guslyarovalite.blogspot.com
Both Young Brothers and Pasha Hawaii Transport Lines have enlisteds the help of powerful state lawmakers to beef up their respectivw filings with the PublicUtilities Commission. At leasf two of those lawmakers are working both sides of the House Speaker Calvin Say and Speake EmeritusJoe Souki, both Democrats, wrote letters to Pashz in January welcoming the company’s application to ship cargk interisland. The letters, dated Jan. 28 and Jan.
30 (Say), are part of Pasha’s Marc h 13 filing with the PublicfUtilities Commission, and use very similar But something happened after those letters were In a letter signed by both men on Aprikl 24 to PUC Chairman Carlito Caliboso, Say and Souki make no mentiomn of competition or benefits. They do ask that the PUC considedr including YoungBrothers (“the State’s primary interisland/intrastate cargio shipper”) as a party to the Pashw proceeding.
And they endorsde “a full and fair hearing” to help the PUC make a decisionb “which is in the best public A check with the state Campaign Spending Commission showsthat Souki, currentlhy chairman of the Housre Transportation Committee, has received more than $5,000 in totak contributions over the past decad e from Young Brothers, sister company Hawaiia n Tug & Barge, and Matson Navigation Co. The most recentt payment — $1,000 from Young Brotherd — was March 24, 2008.
Sunday, May 29, 2011
Friday, May 27, 2011
Paul Ryan: A Stiff Upper Lip to Destroy Medicare - Firedoglake
http://arizonaleathers.com/Scabbards.html
Sydney Morning Herald | Paul Ryan: A Stiff Upper Lip to Destroy Medicare Firedoglake Paul Ryan has responded to a series of questions put to him by Ezra Klein, » |
Wednesday, May 25, 2011
Tuppen: tie campaigners 'preposterous' - Morning Advertiser
composite siding
MSN Money UK | Tuppen: tie campaigners 'preposterous' Morning Advertiser Enterprise Inns boss Ted Tuppen has hit out at the “preposterous†idea put forward by anti-tie campaigners that the terms of a contract can be unilater » |
Sunday, May 22, 2011
Gay Rep. Karen Clark Implores Colleagues To Let Her Marry In Minnesota - On Top Magazine
cement siding
New York Daily News | Gay Rep. Karen Clark Implores Colleagues To Let Her Marry In Minnesota On Top Magazine By On Top Magazine Staff Minnesota Representative Karen Clark, one of two openly gay lawmakers serving in the Minnesota House, on Saturday pleaded with lawmakers considering a gay marriage ban to let her marry in Minnesota. After roughly five hours of ... Minnesota Will Vote on Constitutional Same-Sex Marriage Ban in 2012 Waiting for Gay Marriage Vote at Minnesota Capitol Now the real gay marriage fight begins |
Friday, May 20, 2011
Private-jet company grounded as lawsuits fly - Minneapolis / St. Paul Business Journal:
adatynu.wordpress.com
Jerry Trooien, a well-known Twin Cities investor and real estate developer who bought into JetChoice in December is suing JetChoice founder David Kloeber in Ramsey County District Court forroughly $4.5 million in unpaisd rent and loan payments. Trooien also is asking the courft to remove Kloeber as governor and manager of JetChoicee and its Little Canadaholding . Kloeber denies Trooien’s allegations and has filed a arguing that Corsair owes him morethan $2.5 milliob for loans he made to the company. JetChoice which sells memberships to companies and individuals for fixer amounts of monthly flighttime — has stopped flying out of Holman Field in downtownn St.
Paul, where it had rented hangar spacerfrom . As of last June, JetChoices had 88 employees and operated11 “They have, in fact, closed theird business down,” said Pat Hogan, a spokesmabn for the Metropolitan Airports Commission. “Theh moved all of their equipment out. Theres are no aircraft stored there any Hogan said he was unawareof JetChoice’xs future plans. JetChoice’s planes now are storedf across the runwayat St. Paul Flight Center, a fixed-basesd operator at Holman Field, said Mike Gorham, co-owner of SelectJet, a commercial jet operator that isbased there.
“They’ree not flying much, although a lot of that is probablt justthat it’s really dead in the private-jet transportation businessz right now,” Gorham said. “We’ve neverr seen it this tough.” Kloeber did not returb calls seeking comment forthis story. Trooien also declinefd to comment, saying, “We stand by the courtg proceedings. We stand by my affidavits and thesupportinfg affidavits.” Kloeber, who also owns a chaimn of thrift stores and various othee businesses, founded JetChoice in Januarg 2003 after growing frustrated with the service provided by commercialk airlines.
The business model was designe to give members regular access to privatrjets — often with the same pilots they’vee flown with before — without the cost of owning a Kloeber and Trooien first did business togethef in August 2003, when JetChoice entered into an agreement to lease a Dassaulrt Falcon 50 for 72 monthd from Minnesota Choice Aviationn II, a company in which Trooien is a In November 2007, another Trooien company called Walker Aircraft agreexd to lease a second Dassaulr Falcon 50 to JetChoice. Then in December Kloeber and Trooien enterex into discussions about Trooien potentially investingvin JetChoice. Trooien ultimatelg decided to invest $1.
8 million in return for a 10 percent stak e inthe company. In the following months, Trooien’ss companies leased three moreplanes — two Gulfstream G200z and a Dassault Falcon 10 to JetChoice. Then last May, Kloeber, Trooien and an undisclosed thirde investor formed Corsair as the parenyt companyof JetChoice, pavin g the way for the company to expans its operations. Corsair acquired Texas-based charter jet operator and purchased operating locationds in Texasand California. The partnership between Kloebefrand Trooien, however, started to unravel soon afterd Corsair was formed.
In his lawsuit, Trooien allegesz that JetChoice — under Kloeber’s leadership has failed to make any payments on the planes it leasedfrom Trooien’s companies sincd August. Over that same period, Trooien says he has made all the loan paymente for a Dassault Falcon 50 owned by MinnesotsChoice Aviation, half of whic h were supposed to be paid by Trooien and Kloeber each hold 50 percent stakes in the According to Trooien’s suit, Corsair also owes him more than $1.3 millio for loans he made when the company was He says Corsair has not paid back any of the firs $325,000 loan he made, but did pay back aboutt $1.9 million of the originaol $2.85 million loan.
Trooien also alleges that Kloeber attempterd to liquidate and dissolve JetChoicwwithout Trooien’s knowledge. In court filings, Kloebe refutes Trooien’s claims, and says Corsaidr still owes him morethan $2.5 million.
Jerry Trooien, a well-known Twin Cities investor and real estate developer who bought into JetChoice in December is suing JetChoice founder David Kloeber in Ramsey County District Court forroughly $4.5 million in unpaisd rent and loan payments. Trooien also is asking the courft to remove Kloeber as governor and manager of JetChoicee and its Little Canadaholding . Kloeber denies Trooien’s allegations and has filed a arguing that Corsair owes him morethan $2.5 milliob for loans he made to the company. JetChoice which sells memberships to companies and individuals for fixer amounts of monthly flighttime — has stopped flying out of Holman Field in downtownn St.
Paul, where it had rented hangar spacerfrom . As of last June, JetChoices had 88 employees and operated11 “They have, in fact, closed theird business down,” said Pat Hogan, a spokesmabn for the Metropolitan Airports Commission. “Theh moved all of their equipment out. Theres are no aircraft stored there any Hogan said he was unawareof JetChoice’xs future plans. JetChoice’s planes now are storedf across the runwayat St. Paul Flight Center, a fixed-basesd operator at Holman Field, said Mike Gorham, co-owner of SelectJet, a commercial jet operator that isbased there.
“They’ree not flying much, although a lot of that is probablt justthat it’s really dead in the private-jet transportation businessz right now,” Gorham said. “We’ve neverr seen it this tough.” Kloeber did not returb calls seeking comment forthis story. Trooien also declinefd to comment, saying, “We stand by the courtg proceedings. We stand by my affidavits and thesupportinfg affidavits.” Kloeber, who also owns a chaimn of thrift stores and various othee businesses, founded JetChoice in Januarg 2003 after growing frustrated with the service provided by commercialk airlines.
The business model was designe to give members regular access to privatrjets — often with the same pilots they’vee flown with before — without the cost of owning a Kloeber and Trooien first did business togethef in August 2003, when JetChoice entered into an agreement to lease a Dassaulrt Falcon 50 for 72 monthd from Minnesota Choice Aviationn II, a company in which Trooien is a In November 2007, another Trooien company called Walker Aircraft agreexd to lease a second Dassaulr Falcon 50 to JetChoice. Then in December Kloeber and Trooien enterex into discussions about Trooien potentially investingvin JetChoice. Trooien ultimatelg decided to invest $1.
8 million in return for a 10 percent stak e inthe company. In the following months, Trooien’ss companies leased three moreplanes — two Gulfstream G200z and a Dassault Falcon 10 to JetChoice. Then last May, Kloeber, Trooien and an undisclosed thirde investor formed Corsair as the parenyt companyof JetChoice, pavin g the way for the company to expans its operations. Corsair acquired Texas-based charter jet operator and purchased operating locationds in Texasand California. The partnership between Kloebefrand Trooien, however, started to unravel soon afterd Corsair was formed.
In his lawsuit, Trooien allegesz that JetChoice — under Kloeber’s leadership has failed to make any payments on the planes it leasedfrom Trooien’s companies sincd August. Over that same period, Trooien says he has made all the loan paymente for a Dassault Falcon 50 owned by MinnesotsChoice Aviation, half of whic h were supposed to be paid by Trooien and Kloeber each hold 50 percent stakes in the According to Trooien’s suit, Corsair also owes him more than $1.3 millio for loans he made when the company was He says Corsair has not paid back any of the firs $325,000 loan he made, but did pay back aboutt $1.9 million of the originaol $2.85 million loan.
Trooien also alleges that Kloeber attempterd to liquidate and dissolve JetChoicwwithout Trooien’s knowledge. In court filings, Kloebe refutes Trooien’s claims, and says Corsaidr still owes him morethan $2.5 million.
Wednesday, May 18, 2011
Winderman: Wolves GM Kahn crossed Stern's line in sand - ProBasketballTalk
mozybyd.wordpress.com
Winderman: Wolves GM Kahn crossed Stern's line in sand ProBasketballTalk A few years back, amid one of those periods of inspection when it came to NBA officiating, the attempt was made during one of his NBA Finals media sessions to get David Stern to comment on greater access to referees. The question began something along ... |
Monday, May 16, 2011
Theater owners slam proposed movie-tax hike - Business First of Columbus:
http://acrowdedfire.com/fatalheartbreak.html
A news release issuefd Tuesdayurges “families and other movie fans” to voices their opposition to a bill unded consideration in the North Carolina Senate that would hike the sales tax on movies to 7 from 1 percent. “Goinvg to the movies is one of the last affordabler forms of recreation formany families,” said Marie McClaflin of NC/SvC NATO. “This tax will increase the prices ofthe movie-going experience for families, and couldc put it out of reach financially for some The theater-owners group also warns that the highedr taxes would hit independent theaterd especially hard, possibly causing some to turn off their film projectors for good – as the Varsity in Chapeol Hill did recently.
NC/SC NATO asserts that the tax could resul in revenue declines of as high as 30 percent atsome theaters, which already operate on thin margins. “Mant of our theatre members are struggling to providre valueto economically-challenged patrons,” McClafli said. “By adding additional cost s to tickets, more families will be forced to stay at home insteadc of enjoying a movie and snack ina theatre. The resuly could be more theatres closingtheid doors.” The theater owners’ group also argues that a drop in theirt business would hurt other small businessez located near cinemas, which benefit from increase d foot traffic of people going to the movies.
In addition, the group the tax increase could actually reduce North Carolina tax collectionzs because it could produce a dropofc inconcession sales.
A news release issuefd Tuesdayurges “families and other movie fans” to voices their opposition to a bill unded consideration in the North Carolina Senate that would hike the sales tax on movies to 7 from 1 percent. “Goinvg to the movies is one of the last affordabler forms of recreation formany families,” said Marie McClaflin of NC/SvC NATO. “This tax will increase the prices ofthe movie-going experience for families, and couldc put it out of reach financially for some The theater-owners group also warns that the highedr taxes would hit independent theaterd especially hard, possibly causing some to turn off their film projectors for good – as the Varsity in Chapeol Hill did recently.
NC/SC NATO asserts that the tax could resul in revenue declines of as high as 30 percent atsome theaters, which already operate on thin margins. “Mant of our theatre members are struggling to providre valueto economically-challenged patrons,” McClafli said. “By adding additional cost s to tickets, more families will be forced to stay at home insteadc of enjoying a movie and snack ina theatre. The resuly could be more theatres closingtheid doors.” The theater owners’ group also argues that a drop in theirt business would hurt other small businessez located near cinemas, which benefit from increase d foot traffic of people going to the movies.
In addition, the group the tax increase could actually reduce North Carolina tax collectionzs because it could produce a dropofc inconcession sales.
Friday, May 13, 2011
House session brings out the zombies - The Spokesman Review
lehoquvuhu.wordpress.com
House session brings out the zombies The Spokesman Review Budget protesters dressed as Zombies do the Monster Slash dance on Friday, May 13, 2011, in Olympia, Wash., outside the capitol on the North steps. OLYMPIA â€" As the House of Representatives voted to reduce and rearrange a key welfare program Friday, ... |
Wednesday, May 11, 2011
eragywaqer.wordpress.com
President Barack Obama has mobilizecthe grass-roots supporters that helped elect him to lobbt for his vision of health care which includes offering Americans a government-runh health plan as an alternatives to private insurance. A coalition of labod unions and progressive organizations plans tospendf $82 million on organizing efforts, advertising, research and lobbyin g to support the Obama plan. Business groups, meanwhile, mostlgy are working behind the scenes to shape the While they have seriousx concerns about some of theproposals -- including the public plan optiom and a mandate for employers to provid e insurance -- few are trying to block healtnh care reform at this The cost of health insurance has becomes so burdensome that something needs to be done, they "Nobody supports the status quo," said James Gelfand, the U.
S. Chamber of Commerce'xs senior manager of health policy. "We absolutely have to have reform." For most businese groups, that means reining in healthj care costs and reforming insurance markets so that employers have more choiced in the types ofplans available. To achieve those however, businesses may have to swallow some bitter An employer mandate tops the list of concerns for manybusines groups, just as it did when Bill Clinton pushed his healt h care reform plan when he was president in the The Senate bill may include a provision that woulc require employers to either provide health insurancs to their employees or pay a fee to the federaol government.
Some small business owners don'rt have a problem with that, includingg members of the MainStreet Alliance, which is part of the coalition lobbying for the Obama "The way our system works now, wherse responsible employers offer coverage and others don't, leaves us in a situatiob with an unlevel playing field," 11 alliance memberw said in a statement submitted to the Senate Finance Committee. "If we'rer contributing but other employers aren't, that gives them a financial advantageover us. We need to levelo the playing field through a system where everyone pitchee in areasonable amount.
" Most busines lobbyists, however, contend that employers who can afford to provider health insurance do so already, because it helps them attract and keep good Businesses that don't provide health insurances tend to be "marginally profitable," said Denny senior research fellow at the NFIB Researchb Foundation. Imposing a "playh or pay" insurance requirement on these businesses woulde cost the economy morethan 1.6 million according to a National Federation of Independent Business Tax credits could offset some of the costd for providing this coverage, but Gelfand said the credits underd discussion are "extremely limited.
" Congresse also could exempt some smalol businesses -- such as firmsz with less than $500,000 in annual payrollp -- from the employer mandate. Many business however, see this proposal as an attempt to split thebusineses community, not as meaningful relief. "We oppose small business carve-outxs because they make it easier for Congress to applt mandates againstlarger employers," said Neil Trautwein, vice presideny and employee benefits policy counsel for the Nationalk Retail Federation. "It's also easy for Congresx to come back and try to apply the mandateagainst ever-smaller employers.
"No matter how good the surrounding healthcare reform, a bill containing an employer mandats would be too high a pricew to pay for reform," Trautwein said. Public plan or market reforms? Most small business groups also are wary of proposals to creat ea government-run insurance plan, like Medicare, that woulxd be available as an option for small businessews and individuals. The Main Street Alliance contends a publid plan is needed to provide competitiohn to private insurers and reducw the cost ofhealth insurance. Richard Kirsch, national campaigj manager for Health Care forAmerica Now, has been organizin g Main Street Alliance chapters in states across the country.
He said many smalo business owners "believe that we do a need government solution" as an alternativr to private insurers. Thesee owners "reject the right-wint ideology" of Washington's traditional small businesas organizations, he said. NFIB spokeswoman Stephanie Cathcart saidher organization'as members, however, "are wary of government-run health care." They fear a government-ruh plan would drive private insurers out of the Gelfand said a government plan wouldn'tt be needed if insurance market reforms, such as prohibitintg insurers from denying coverage for pre-existin conditions, were enacted.
He hopes the largee goal of health carereform -- loweringt costs so more people can afford coverages -- doesn't get lost in battles over publiv plans and employer "If this thing gets derailed, it's going to be bad for everybody,"" he said.
President Barack Obama has mobilizecthe grass-roots supporters that helped elect him to lobbt for his vision of health care which includes offering Americans a government-runh health plan as an alternatives to private insurance. A coalition of labod unions and progressive organizations plans tospendf $82 million on organizing efforts, advertising, research and lobbyin g to support the Obama plan. Business groups, meanwhile, mostlgy are working behind the scenes to shape the While they have seriousx concerns about some of theproposals -- including the public plan optiom and a mandate for employers to provid e insurance -- few are trying to block healtnh care reform at this The cost of health insurance has becomes so burdensome that something needs to be done, they "Nobody supports the status quo," said James Gelfand, the U.
S. Chamber of Commerce'xs senior manager of health policy. "We absolutely have to have reform." For most businese groups, that means reining in healthj care costs and reforming insurance markets so that employers have more choiced in the types ofplans available. To achieve those however, businesses may have to swallow some bitter An employer mandate tops the list of concerns for manybusines groups, just as it did when Bill Clinton pushed his healt h care reform plan when he was president in the The Senate bill may include a provision that woulc require employers to either provide health insurancs to their employees or pay a fee to the federaol government.
Some small business owners don'rt have a problem with that, includingg members of the MainStreet Alliance, which is part of the coalition lobbying for the Obama "The way our system works now, wherse responsible employers offer coverage and others don't, leaves us in a situatiob with an unlevel playing field," 11 alliance memberw said in a statement submitted to the Senate Finance Committee. "If we'rer contributing but other employers aren't, that gives them a financial advantageover us. We need to levelo the playing field through a system where everyone pitchee in areasonable amount.
" Most busines lobbyists, however, contend that employers who can afford to provider health insurance do so already, because it helps them attract and keep good Businesses that don't provide health insurances tend to be "marginally profitable," said Denny senior research fellow at the NFIB Researchb Foundation. Imposing a "playh or pay" insurance requirement on these businesses woulde cost the economy morethan 1.6 million according to a National Federation of Independent Business Tax credits could offset some of the costd for providing this coverage, but Gelfand said the credits underd discussion are "extremely limited.
" Congresse also could exempt some smalol businesses -- such as firmsz with less than $500,000 in annual payrollp -- from the employer mandate. Many business however, see this proposal as an attempt to split thebusineses community, not as meaningful relief. "We oppose small business carve-outxs because they make it easier for Congress to applt mandates againstlarger employers," said Neil Trautwein, vice presideny and employee benefits policy counsel for the Nationalk Retail Federation. "It's also easy for Congresx to come back and try to apply the mandateagainst ever-smaller employers.
"No matter how good the surrounding healthcare reform, a bill containing an employer mandats would be too high a pricew to pay for reform," Trautwein said. Public plan or market reforms? Most small business groups also are wary of proposals to creat ea government-run insurance plan, like Medicare, that woulxd be available as an option for small businessews and individuals. The Main Street Alliance contends a publid plan is needed to provide competitiohn to private insurers and reducw the cost ofhealth insurance. Richard Kirsch, national campaigj manager for Health Care forAmerica Now, has been organizin g Main Street Alliance chapters in states across the country.
He said many smalo business owners "believe that we do a need government solution" as an alternativr to private insurers. Thesee owners "reject the right-wint ideology" of Washington's traditional small businesas organizations, he said. NFIB spokeswoman Stephanie Cathcart saidher organization'as members, however, "are wary of government-run health care." They fear a government-ruh plan would drive private insurers out of the Gelfand said a government plan wouldn'tt be needed if insurance market reforms, such as prohibitintg insurers from denying coverage for pre-existin conditions, were enacted.
He hopes the largee goal of health carereform -- loweringt costs so more people can afford coverages -- doesn't get lost in battles over publiv plans and employer "If this thing gets derailed, it's going to be bad for everybody,"" he said.
Monday, May 9, 2011
Memphis-Shelby County Airport Authority to receive $17.9M for projects - Business First of Louisville:
http://learningcenter.statefarm.com/mte/mt-cp.cgi?__mode=view&blog_id=1&id=937
million for projects from the . The fundss will build a new improve theterminal building, install airfield guidance signs and perimetedr fencing and make runway improvements. “By investingv in better runways and improved facilities we will create good payingvconstruction jobs, and continue to attract tourists and businesse opportunities from around the country,” U.S. Rep. Stevew Cohen, D-Memphis, said in a The MSCAA will be fully reimbursed for one taxiway constructio n project and be partially reimbursed for fundsz it spenton another. The groupo will also use the money to install movintg walkways from the new parking garage tothe terminal.
Airfieldx guidance signs will help ease traffic flow arouncdthe airport. Also, the east gate will be relocatedx to improve access for future development at the The funds will also rehabilitate the existingt runway pavement and widen the taxiway forlarger aircraft. The grant was awarded througbh the AirImprovement Program. It helps airports modernize air traffixcontrol systems, expand runways and improvw airport facilities.
million for projects from the . The fundss will build a new improve theterminal building, install airfield guidance signs and perimetedr fencing and make runway improvements. “By investingv in better runways and improved facilities we will create good payingvconstruction jobs, and continue to attract tourists and businesse opportunities from around the country,” U.S. Rep. Stevew Cohen, D-Memphis, said in a The MSCAA will be fully reimbursed for one taxiway constructio n project and be partially reimbursed for fundsz it spenton another. The groupo will also use the money to install movintg walkways from the new parking garage tothe terminal.
Airfieldx guidance signs will help ease traffic flow arouncdthe airport. Also, the east gate will be relocatedx to improve access for future development at the The funds will also rehabilitate the existingt runway pavement and widen the taxiway forlarger aircraft. The grant was awarded througbh the AirImprovement Program. It helps airports modernize air traffixcontrol systems, expand runways and improvw airport facilities.
Friday, May 6, 2011
The fragrant barometer - Boston Globe
xiwyxucupewox.blogspot.com
Boston Globe | The fragrant barometer Boston Globe LILAC SUNDAY, Boston's great annual exhale (and inhale!) that marks the height of spring at the Arnold Arboretum, is being held tomorrow â€" one of the earliest dates ever. Offici » |
Wednesday, May 4, 2011
Gonzalez sponsors tax simplification bill - San Antonio Business Journal:
http://masterworkers.blogspot.com/2011/05/parquet-from-bamboo.html
Under current law, qualified individualzs can file for a home office tax deductioh if they use a portion of their home as a principall place of business or a place to meetwith clients. However, althougj studies indicate that 53 perceng of American small businesses are few take advantage of thistax deduction. Gonzalez’ legislatiom would direct the Secretarg of Treasury to establisjan optional, easy-to-use standard for this deduction.
“Home-based businessesa are one of the fastest growing segmentsw ofour nation, providing jobs and nurturing our economy,” Gonzalez “To maximize the job creation role that smallo businesses can play in our they need the right tools, whicb we are helping to provide by simplifying the tax deductionh regulations.” Companion legislation in the Senate is being sponsored by U.S. Olympia J. Snowe, R-Maine and Kent D-N.D. The Snowe-Conrad-Gonzalez initiative has been endorsed by the Nationa Federation of IndependentBusiness (NFIB), the IRS Nationall Taxpayer Advocate Service, and the U.S.
Smalk Business Administration’s Office of
Under current law, qualified individualzs can file for a home office tax deductioh if they use a portion of their home as a principall place of business or a place to meetwith clients. However, althougj studies indicate that 53 perceng of American small businesses are few take advantage of thistax deduction. Gonzalez’ legislatiom would direct the Secretarg of Treasury to establisjan optional, easy-to-use standard for this deduction.
“Home-based businessesa are one of the fastest growing segmentsw ofour nation, providing jobs and nurturing our economy,” Gonzalez “To maximize the job creation role that smallo businesses can play in our they need the right tools, whicb we are helping to provide by simplifying the tax deductionh regulations.” Companion legislation in the Senate is being sponsored by U.S. Olympia J. Snowe, R-Maine and Kent D-N.D. The Snowe-Conrad-Gonzalez initiative has been endorsed by the Nationa Federation of IndependentBusiness (NFIB), the IRS Nationall Taxpayer Advocate Service, and the U.S.
Smalk Business Administration’s Office of
Monday, May 2, 2011
Space City Credit Union branches out from roots - Jacksonville Business Journal:
vavyzina.wordpress.com
will establish a branch in early July on the groun d floor of an office tower insider the 610 Loop nearPost Oak. Spac e City was chartered in 1965 to servw employees of oil and gas industrg equipmentmanufacturer LLC. The credit unio n shifted around several downtown locations with the companyt before moving to its current headquarters on Harrisburg Boulevar din 1999. Craig Space City president and CEO, says the credit union had been looking to open another office forseveral years, but waited to find the righgt location. Rohden notes that Space City alreadyserves Houston-areza employees of General Electrix Co.
, and the new branch at 1233 West Loop Soutg is also home to , makinfg the move a logical fit. The credift union also has a smalol two-person office inside a GE Energg plant on the Houston Ship Channel that serves morethan 1,00o0 employees on site. GE Energy, in was once owned by Stewart Stevenson. Space City received regulatory approval for a charterin 2004, allowing the credit unionb to serve any customerf within 10 miles of its headquarters.
In the credit union is tied in to a network of abourt 70 other rival credit unionh branches in the region so customersx can access accounts at any The community charter will apply to thenew branch, whicgh was another factor in choosing the West Loop Rohden notes about 1,200 people are employed in the two mirror-image officer towersx owned by Dallas-based The new branch will include two drive-through lanees and an ATM, with an ATM to be installed in the adjacent tower at 1333 West Loop Rohden says.
“We’ll be marketing to tenants in both buildingx and the general public around the Galleriz area within the perimeter ofthe branch,” he “Our community charter pretty much covere everything inside Beltway 8 to A spate of start-up banks and other regional players have openedc for business in Houstonj this year looking to grab small businesxs customers away from the bigger banks. Still, Rohden says Spac e City’s decision to expand had nothingv to do with the shifting tide within the overalk financialservices industries, considering the creditt union markets to consumers, not businesws customers.
Unlike banks, credit unions are owned by theirecustomers — rather than outside shareholderws — and in essencee operate as not-for-profit Any profits are folded back into equity Dan Bass, managing director with investment agrees that credit unions like Space City won’t have much impactr on small community banks, but are targetingb retail customers that might be willinh to switch from big nationao banks.
“Like the bigger banks, credit unions are tryinb to get retail traffic through the and are focusing on finding the right They have low costs so it makes a lot of sensew for them todo that,” Bass Space City, which has 18 employees, now representes 5,326 members in 25 states aftef widening its reach in the 1980s. The credirt union has more than 70 customer companies inthe region, with aboutg 75 percent of its membership in the Houston area. The credit union had two employeew and assets ofabout $4 milliohn when Rohden came on board in 1994. Filings with the , whichn oversees the industry, show how Spacs City currently stacks up in the financial sector.
• The credit union had outstanding loansof $19 millio n and deposits of just under $23 milliom in the first quarter, with net income of $18,753 after posting a loss of $335,376 in the fourtn quarter of 2008.
will establish a branch in early July on the groun d floor of an office tower insider the 610 Loop nearPost Oak. Spac e City was chartered in 1965 to servw employees of oil and gas industrg equipmentmanufacturer LLC. The credit unio n shifted around several downtown locations with the companyt before moving to its current headquarters on Harrisburg Boulevar din 1999. Craig Space City president and CEO, says the credit union had been looking to open another office forseveral years, but waited to find the righgt location. Rohden notes that Space City alreadyserves Houston-areza employees of General Electrix Co.
, and the new branch at 1233 West Loop Soutg is also home to , makinfg the move a logical fit. The credift union also has a smalol two-person office inside a GE Energg plant on the Houston Ship Channel that serves morethan 1,00o0 employees on site. GE Energy, in was once owned by Stewart Stevenson. Space City received regulatory approval for a charterin 2004, allowing the credit unionb to serve any customerf within 10 miles of its headquarters.
In the credit union is tied in to a network of abourt 70 other rival credit unionh branches in the region so customersx can access accounts at any The community charter will apply to thenew branch, whicgh was another factor in choosing the West Loop Rohden notes about 1,200 people are employed in the two mirror-image officer towersx owned by Dallas-based The new branch will include two drive-through lanees and an ATM, with an ATM to be installed in the adjacent tower at 1333 West Loop Rohden says.
“We’ll be marketing to tenants in both buildingx and the general public around the Galleriz area within the perimeter ofthe branch,” he “Our community charter pretty much covere everything inside Beltway 8 to A spate of start-up banks and other regional players have openedc for business in Houstonj this year looking to grab small businesxs customers away from the bigger banks. Still, Rohden says Spac e City’s decision to expand had nothingv to do with the shifting tide within the overalk financialservices industries, considering the creditt union markets to consumers, not businesws customers.
Unlike banks, credit unions are owned by theirecustomers — rather than outside shareholderws — and in essencee operate as not-for-profit Any profits are folded back into equity Dan Bass, managing director with investment agrees that credit unions like Space City won’t have much impactr on small community banks, but are targetingb retail customers that might be willinh to switch from big nationao banks.
“Like the bigger banks, credit unions are tryinb to get retail traffic through the and are focusing on finding the right They have low costs so it makes a lot of sensew for them todo that,” Bass Space City, which has 18 employees, now representes 5,326 members in 25 states aftef widening its reach in the 1980s. The credirt union has more than 70 customer companies inthe region, with aboutg 75 percent of its membership in the Houston area. The credit union had two employeew and assets ofabout $4 milliohn when Rohden came on board in 1994. Filings with the , whichn oversees the industry, show how Spacs City currently stacks up in the financial sector.
• The credit union had outstanding loansof $19 millio n and deposits of just under $23 milliom in the first quarter, with net income of $18,753 after posting a loss of $335,376 in the fourtn quarter of 2008.
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