mcfarlainofuqub1258.blogspot.com
The Spartanburg, S.C.-based company filed the reorganization petitionh in New Yorkbankruptcy court, Secretary and General Counsel Joseph Teichman writing that Extendec Stay had about $7.1 billion in assetse and $7.6 billion in liabilities at the end of 2008. Extendedx Stay, whose more than 680 properties are managed byHVM LLC, has 21 locationd in the Houston area. The groupl lists 14 hotels in the San Jose area on its Web site unde the ExtandedStay America, Extended Stay Deluxe and Homesteadr Studio Suites brands. The company bills itselfr as the largest operatorof mid-priced extended-stay hotels in the nation.
Teichmamn in a court filing on Monda wrote that the company sought protection from creditors amid a generalk downturn in the hospitality industryg and a hit takenn as fewer potential customers needthe company’s services. “Sincew the typical Extended Stay customerr seeks a lengthy stay based oncommercial relocation, the contractionb of construction and new business developmen began to significantly and adversely affected Extended Stay’w revenue stream,” Teichman The company said its average revenue per room dropped abou 23 percent in the first five months of the year compared with the same periof of 2008.
As a result, it was unable to deal with its debt burdeb with cash flow and is seekinga “comprehensive restructuring of the entires capital structure.” Extended Stay said it plans to run operationsd following the Chapter 11 petition unde a lender-approved arrangement using cash Debtor-in-possession financing won’t be needed, the companyu said. About 9,900 employees work in hotels operatee byExtended Stay. The compang is in 44 states and hasaboutr 77,000 rooms.
Tuesday, November 29, 2011
Sunday, November 27, 2011
California losing ground in manufacturing - Puget Sound Business Journal (Seattle):
ucenyt.wordpress.com
Manufacturing “still drives California’s economy in many but the state is losing ground to othert states and nations because of itsregulatoryy climate, tax burden and reputation as a difficultt and costly place to do the wrote in the reportt released Tuesday. The paid for the called “Manufacturing 2.0: A More Prosperous to create a better understanding of the current state of manufacturing and the need for actionm to savethe state’s most critical engine of economic the association said in a news release.
The Assemblyy Committee on Jobs, the Economy and Economicc Development is scheduled to discuss the report next The committee is trying to understandc themanufacturing sector’s role in the state’sd economic recovery. “California’s economy has been built on manufacturing. The sector’s steadg decline is undoubtedlya ‘canar y in a coal mine’ for the state’s economy,” associatio president Jack Stewart said in the news release. “California has the capacit to innovate and make things but it is not at all livingg up toits potential.” The report says that the impactsx from lost manufacturing jobs have been devastating.
The studyy looks at California’s manufacturing decline compared tocompetitive states, shows what the state would look like if it had maintainer year 2000 levels of manufacturing, and explains the huge economic benefits and rippld effects from high and even low wage The Milken Institute also examines the challenged the industry faces in Californiaz and recommends some changes to make the sector more competitived in the Golden State. The trad association had the Milken Institute prepare a similaer study sevenyears ago.
“Since and even before the current international California manufacturing has remainedin decline, with little attentiob from policymakers,” the news releasee said. If California had maintaine the same level of manufacturing from 2000 to the state wouldhave $27 billiom more in manufacturing waged and $54 billion more in total manufacturing relates output, the report found. “Just do the math on thosr numbers to see how much more the statee would have seen intax revenue,” Stewarrt said in the release. “It’s absolutely crucia that our state doesn’t neglect this sector for anotherseven years.
” Californisa has been losing manufacturing jobs, particularly high-value-added manufacturing, to Oregon, Washington, Texas and Minnesota, the repory said. California was home to 1.5 million manufacturinvg jobs in 2007, while its sevemn peer states had 2.7 million manufacturing Those states added morethan 62,000 manufacturin jobs between 2003 and while the Golden State lost 79,00 0 manufacturing jobs during the same California, in fact, is losing a largerr share of manufacturing employment, especiallg in high-tech, and is losing those jobs at a fasteer rate, the report found.
Those peer states also are “using targeted incentives to keep and lure manufacturers away from thestudy said. “California manufacturing is innovative, exciting and wealth creating,” Pamela Kan, presidenyt of Bishop-Wisecarver Corp., said in the release. “We emplogy 53 California workers who make great wages and very innovative and technical products for many othetmanufacturing sectors. We hear constantlgy about our California suppliers’ and struggles with regulatory uncertaintyand costs.” Kan’s family founded Bishop-Wisecarver, which is based in the Contra Costaq County city of Pittsburg, in 1950.
“This report,” she “is a wake up call to California’s policymakers that we need a focused manufacturing strategy in the state to retain and growthe nation’s most coveted producers.”
Manufacturing “still drives California’s economy in many but the state is losing ground to othert states and nations because of itsregulatoryy climate, tax burden and reputation as a difficultt and costly place to do the wrote in the reportt released Tuesday. The paid for the called “Manufacturing 2.0: A More Prosperous to create a better understanding of the current state of manufacturing and the need for actionm to savethe state’s most critical engine of economic the association said in a news release.
The Assemblyy Committee on Jobs, the Economy and Economicc Development is scheduled to discuss the report next The committee is trying to understandc themanufacturing sector’s role in the state’sd economic recovery. “California’s economy has been built on manufacturing. The sector’s steadg decline is undoubtedlya ‘canar y in a coal mine’ for the state’s economy,” associatio president Jack Stewart said in the news release. “California has the capacit to innovate and make things but it is not at all livingg up toits potential.” The report says that the impactsx from lost manufacturing jobs have been devastating.
The studyy looks at California’s manufacturing decline compared tocompetitive states, shows what the state would look like if it had maintainer year 2000 levels of manufacturing, and explains the huge economic benefits and rippld effects from high and even low wage The Milken Institute also examines the challenged the industry faces in Californiaz and recommends some changes to make the sector more competitived in the Golden State. The trad association had the Milken Institute prepare a similaer study sevenyears ago.
“Since and even before the current international California manufacturing has remainedin decline, with little attentiob from policymakers,” the news releasee said. If California had maintaine the same level of manufacturing from 2000 to the state wouldhave $27 billiom more in manufacturing waged and $54 billion more in total manufacturing relates output, the report found. “Just do the math on thosr numbers to see how much more the statee would have seen intax revenue,” Stewarrt said in the release. “It’s absolutely crucia that our state doesn’t neglect this sector for anotherseven years.
” Californisa has been losing manufacturing jobs, particularly high-value-added manufacturing, to Oregon, Washington, Texas and Minnesota, the repory said. California was home to 1.5 million manufacturinvg jobs in 2007, while its sevemn peer states had 2.7 million manufacturing Those states added morethan 62,000 manufacturin jobs between 2003 and while the Golden State lost 79,00 0 manufacturing jobs during the same California, in fact, is losing a largerr share of manufacturing employment, especiallg in high-tech, and is losing those jobs at a fasteer rate, the report found.
Those peer states also are “using targeted incentives to keep and lure manufacturers away from thestudy said. “California manufacturing is innovative, exciting and wealth creating,” Pamela Kan, presidenyt of Bishop-Wisecarver Corp., said in the release. “We emplogy 53 California workers who make great wages and very innovative and technical products for many othetmanufacturing sectors. We hear constantlgy about our California suppliers’ and struggles with regulatory uncertaintyand costs.” Kan’s family founded Bishop-Wisecarver, which is based in the Contra Costaq County city of Pittsburg, in 1950.
“This report,” she “is a wake up call to California’s policymakers that we need a focused manufacturing strategy in the state to retain and growthe nation’s most coveted producers.”
Friday, November 25, 2011
Noncompete in the past, bankers ready expansion - bizjournals:
http://sisterfriends.org/officers/lori.htm
“I never intended to retire,” Boylee said. “I knew that spendintg the day in my fuzzyfloppies wasn’t going to work. My marriags wouldn’t survive it.” Now the two are back to doint what theyenjoy most: building a communith bank. They intend to expand , which up until this year had locations only in Buena Vista and into theDenver area. “Dave and I have been bankers in this town Perkins said. “That community-bank touch that we created at Guarantg Bank, we wanted to do it again.” The pair were executivezs at Guaranty Corp., parent of Guaranty Bank Trust, when it was sold to Centennial BankHoldings Inc. in 2004.
They stuck with the merged companythroughu Centennial’s transition into a publicly traded company in 2005. Last Centennial changed its name to GuarantyBancorp (NASDAQ: When they resigned together in they had no clear idea what they’d do next, Boyle said. But the answer wasn’t long in About two weeks after tenderinghis resignation, Boyles was on the phone with Charles then-chairman and CEO of Collegiate Peaks Bank in Buenz Vista. Collegiate was a subsidiary of CentenniaBank Holdings, but the parent company had been tryingf to sell it; an announced deal had fallen through only a few weeksx earlier. Forster asked him, “‘Dp you want to buy a Boyles said.
What started out as a joke quicklgy becamea plan. Forster advised him to call Guaranty Bancorpp Chairman John Eggemeyerand “telo him that you’re either going to buy a bank or a and he needs to tell you Boyles said. It was the of course. Boyles said they offeredx Eggemeyer the same terms as the deal that had recently fallen reportedly $18 million. The sale closed in Octoberr 2006, but Boyles and Perkins had to wait another two yearsx to implement theirDenver expansion. Both had noncompete agreementsz with Guaranty Bancorpthat didn’t expire until last Now they’re moving quickly. In January, Collegiate Peaks’ firsrt metro Denver location opened at2101 N.
Ursul St., on the Anschutzx Medical Campus at the formerf Fitzsimons ArmyMedical Center. In February, they opene a second, temporary location at 1243 S. Coloradk Blvd., in the Belcaro area; a permanenf location is under construction a few blocks away at885 S. Coloradl Blvd. The bank’s parent company, Columbine Capital Corp of which Perkins is president borrowed $2.25 million in February through the U.S. Treasury’s Capitapl Purchase Program. “We have money to lend,” Boylee said. “We don’t have any proble assets to look after.
” Collegiat Peaks Bank had $133 million in total assets andnearly $91 millioj in deposits as of March 31, accordingb to data from the
“I never intended to retire,” Boylee said. “I knew that spendintg the day in my fuzzyfloppies wasn’t going to work. My marriags wouldn’t survive it.” Now the two are back to doint what theyenjoy most: building a communith bank. They intend to expand , which up until this year had locations only in Buena Vista and into theDenver area. “Dave and I have been bankers in this town Perkins said. “That community-bank touch that we created at Guarantg Bank, we wanted to do it again.” The pair were executivezs at Guaranty Corp., parent of Guaranty Bank Trust, when it was sold to Centennial BankHoldings Inc. in 2004.
They stuck with the merged companythroughu Centennial’s transition into a publicly traded company in 2005. Last Centennial changed its name to GuarantyBancorp (NASDAQ: When they resigned together in they had no clear idea what they’d do next, Boyle said. But the answer wasn’t long in About two weeks after tenderinghis resignation, Boyles was on the phone with Charles then-chairman and CEO of Collegiate Peaks Bank in Buenz Vista. Collegiate was a subsidiary of CentenniaBank Holdings, but the parent company had been tryingf to sell it; an announced deal had fallen through only a few weeksx earlier. Forster asked him, “‘Dp you want to buy a Boyles said.
What started out as a joke quicklgy becamea plan. Forster advised him to call Guaranty Bancorpp Chairman John Eggemeyerand “telo him that you’re either going to buy a bank or a and he needs to tell you Boyles said. It was the of course. Boyles said they offeredx Eggemeyer the same terms as the deal that had recently fallen reportedly $18 million. The sale closed in Octoberr 2006, but Boyles and Perkins had to wait another two yearsx to implement theirDenver expansion. Both had noncompete agreementsz with Guaranty Bancorpthat didn’t expire until last Now they’re moving quickly. In January, Collegiate Peaks’ firsrt metro Denver location opened at2101 N.
Ursul St., on the Anschutzx Medical Campus at the formerf Fitzsimons ArmyMedical Center. In February, they opene a second, temporary location at 1243 S. Coloradk Blvd., in the Belcaro area; a permanenf location is under construction a few blocks away at885 S. Coloradl Blvd. The bank’s parent company, Columbine Capital Corp of which Perkins is president borrowed $2.25 million in February through the U.S. Treasury’s Capitapl Purchase Program. “We have money to lend,” Boylee said. “We don’t have any proble assets to look after.
” Collegiat Peaks Bank had $133 million in total assets andnearly $91 millioj in deposits as of March 31, accordingb to data from the
Tuesday, November 22, 2011
Alexander G Earls Executive Profile
igoeosysata1533.blogspot.com
**All Executive profile data provided byDow
**All Executive profile data provided byDow
Sunday, November 20, 2011
Street Fighter X Tekken Alt Costumes Don't Even Try to Make Sense - Piki Geek
tenamup.wordpress.com
Crunchyroll News | Street Fighter X Tekken Alt Costumes Don't Even Try to Make Sense Piki Geek If the existing costumes for your favorite character appearing in Street Fighter X Tekken just aren't right, you'll have the option to swap them for a slew of bizzare outfits. Beyond what you'll be able to do with the game's Character Customization ...< /p> A Look At Street Fighter X Tekken's Character Customization 'Street Fighter X Tekken' Release Date: New Images Display 'Swap' Costumes ... "Street Fighter X Tekken" Character Customization and EVEN MORE ALTERNATE COSTUMES |
Friday, November 18, 2011
PEP: Pinoy filmmakers win top prizes at the Cinemanila International Film ... - GMANews.TV
gavrilovaefivu.blogspot.com
Philippine Entertainment Portal | PEP: Pinoy filmmakers win top prizes at the Cinemanila International Film ... GMANews.TV Filipino directors also took home prizes in other categories like Digital Lokal and Young Cinema Shorts in Competition. CINEMANILA. The Cinemanila International Film Festival is an annual event that is being promoted as the local ver sion of the main ... 13th Cinemanila winners named |
Wednesday, November 16, 2011
Four ownership groups show interest in Coyotes, sale could keep NHL team in Glendale - Kansas City Business Journal:
goldenayreyg1666.blogspot.com
NHL court filings with the U.S Bankruptcy Cour t handling the Coyotes Chapter 11 bankruptchy protection include a list of possible owners that would keep the team in They include: Howard Sokolowski and David Cynamon, owners of the Canadian Football League'sw Toronto Argonauts; Chicago White Sox owner Jerry Coyotes minority owner John Breslow; and an unnames Phoenix-area business executive as possible bidders. Researchb in Motion CEO Jim Balsillie already hasa $213 milliom offer on the table for the Coyotes and wouled move the team to Hamilton, Ontario. The Coyotews have lost $316 million since moving to the Phoenixs marketfrom Winnipeg, Canada, in 1996.
Balsillie'e offer is expected to be substantially greater than any offef to keep the teamin Glendale. RIM makes Blackberry smartphones and Balsillie is a billionairew who has made offers for other NHL The NHL also got more legal back up Fridayufrom , the and National Basketball Assocation. The professionalp sports leagues argue in court filinge that they should have control overfranchisess sales, moves and relocations in order to maintainm the economic viability of their operations. The NHL opposees Balsillie's effort to move the Phoenicx franchise backto Canada.
Coyotes owner Jerry Moyees also said in June 5 court filings thata $100 milioj cash infusion he has put into the team should be treatee as a debt the hockey team's reorganization shoule reimburse him for. Moyes wants to sell the Coyotess to Balsillie who contends hockey is not financiallyy viablein Glendale. Moyes' court filings also downplayexa $750 million lease penalty the city of Glendalee could file for if the Coyotes break their 30-year lease at Jobing.com Arena. Moyes and Balsillie want the bankruptcy couryt to discharge the lease as part ofthe team's Chaptert 11.
NHL court filings with the U.S Bankruptcy Cour t handling the Coyotes Chapter 11 bankruptchy protection include a list of possible owners that would keep the team in They include: Howard Sokolowski and David Cynamon, owners of the Canadian Football League'sw Toronto Argonauts; Chicago White Sox owner Jerry Coyotes minority owner John Breslow; and an unnames Phoenix-area business executive as possible bidders. Researchb in Motion CEO Jim Balsillie already hasa $213 milliom offer on the table for the Coyotes and wouled move the team to Hamilton, Ontario. The Coyotews have lost $316 million since moving to the Phoenixs marketfrom Winnipeg, Canada, in 1996.
Balsillie'e offer is expected to be substantially greater than any offef to keep the teamin Glendale. RIM makes Blackberry smartphones and Balsillie is a billionairew who has made offers for other NHL The NHL also got more legal back up Fridayufrom , the and National Basketball Assocation. The professionalp sports leagues argue in court filinge that they should have control overfranchisess sales, moves and relocations in order to maintainm the economic viability of their operations. The NHL opposees Balsillie's effort to move the Phoenicx franchise backto Canada.
Coyotes owner Jerry Moyees also said in June 5 court filings thata $100 milioj cash infusion he has put into the team should be treatee as a debt the hockey team's reorganization shoule reimburse him for. Moyes wants to sell the Coyotess to Balsillie who contends hockey is not financiallyy viablein Glendale. Moyes' court filings also downplayexa $750 million lease penalty the city of Glendalee could file for if the Coyotes break their 30-year lease at Jobing.com Arena. Moyes and Balsillie want the bankruptcy couryt to discharge the lease as part ofthe team's Chaptert 11.
Monday, November 14, 2011
Friends mourn Savannah musician who was slain - Atlanta Journal Constitution
yjanebixe.wordpress.com
WXIA-TV | Friends mourn Savannah musician who was slain Atlanta Journal Constitution AP Savannah police are seeking tips from the public to help them solve the slaying of a local musician whose body was found Sunday morning after he was shot to death. The Savannah Morning News reports (http://bit.ly/sW3fYR) that friends were mourning ... Sa vannah musician dies of gunshot wounds Sunday morning Savannah musician, 34, dies after being found in street with gunshot wounds ... Man Shot After Dice Game, Police Search For Suspect |
Saturday, November 12, 2011
Paladino surveys BNP members on Rudnick - Baltimore Business Journal:
ogarawo.wordpress.com
This week, the owner of mailed a statementto 1,80p members of the Partnership outlining several changes that he believex will “remedy the economic and psychological blight that has rotteds the core” of the Buffalo Niagara community. In the Paladino asked each member to respond to himregardinh Rudnick’s performance and whether Rudnickk should continue to lead the Partnership. The statemenrt was published in the July 3 issue of BusinesasFirst . If the majority of responsesa callfor Rudnick’s departure, Paladino said he will hire an independengt pollster to survey the membership.
Once the poll is he said he will present the results tothe Partnership’es board of directors and ask it to discharger Rudnick. Mike Deakin, a small-businesse owner in North Tonawanda, said he supports Paladino’x effort to shake up the Partnership and wishes the Partnership pushed Albany and local politicians to bette r protect small businesses in WesternNew York. “W e don’t have anybody who’z really standing up to the politicians and localp folks that are responsible for getting this communittymoving ahead,” said Deakin, ownef of two businesses, and .
“I’m a nativse of Buffalo, I’ve been here all my life and I’mj in my 60s, and we don’t have anybody who’s really, really fighting for us exceprt for acouple politicians, such as (state Sen. George) Maziarz.” Deakin said he joined the Partnership about three years ago to receivre health insurance for some ofhis employees. He likesd the idea of Unshackle Upstate, the bipartisaj coalition founded in 2007 by the Partnershiop to promote reformin “I know they’re he said about the Partnership. “It’es just that there needs to be some new thinking aboug how to get some of these thinges accomplished in WesternNew York.
” Rudnick declined to be interviewex for this article. Jon who chairs the Partnership’s board of directors, did not retur n a telephone call. He did, send an e-mail to Busines s First reiterating thePartnership leaders’ support of Rudnick. Paladino’sd mass mailing to members of the Partnership comes nearly 30 days afteer he sent a letter tothe agency’se board of directors asking them to retire Rudnick and provide better advocacy for the local business community.
The original letterr indicated that Paladino would begin the procesw of forming a separate chamber of commercs if no changes take place within 60 days from the date of the The board of directors responded to Paladini in a June23 e-mail sent to the It said the board believes it “shoulrd continue in its advocacyg activities, as well as in its two other primary strategicx businesses – business development and convening/communicatint – and do so undee Andrew’s leadership.
” Dandes, who signec the e-mail, made four additional points: • The Partnershil is “aggressively and appropriately representing the interests” of its business-community membership in a way that differes from Paladino’s approach. • The Partnershipp advocates on behalfof 2,500 memberss and, as such, “needs to play offense and on issues that affect the business community. • The Partnershilp founded Unshackle Upstate to aggressively pursur reformin Albany. • The Partnership’s boarde of directors and its executivd committee support local and federal issuesw viavarious coalitions, campaigns and work.
Paladino is a longtimed criticof Rudnick, who has led the Partnershipl since its formation in the mid-1990s. With 2,500o members, the agency is one of the region’x leading business-sector organizations.
This week, the owner of mailed a statementto 1,80p members of the Partnership outlining several changes that he believex will “remedy the economic and psychological blight that has rotteds the core” of the Buffalo Niagara community. In the Paladino asked each member to respond to himregardinh Rudnick’s performance and whether Rudnickk should continue to lead the Partnership. The statemenrt was published in the July 3 issue of BusinesasFirst . If the majority of responsesa callfor Rudnick’s departure, Paladino said he will hire an independengt pollster to survey the membership.
Once the poll is he said he will present the results tothe Partnership’es board of directors and ask it to discharger Rudnick. Mike Deakin, a small-businesse owner in North Tonawanda, said he supports Paladino’x effort to shake up the Partnership and wishes the Partnership pushed Albany and local politicians to bette r protect small businesses in WesternNew York. “W e don’t have anybody who’z really standing up to the politicians and localp folks that are responsible for getting this communittymoving ahead,” said Deakin, ownef of two businesses, and .
“I’m a nativse of Buffalo, I’ve been here all my life and I’mj in my 60s, and we don’t have anybody who’s really, really fighting for us exceprt for acouple politicians, such as (state Sen. George) Maziarz.” Deakin said he joined the Partnership about three years ago to receivre health insurance for some ofhis employees. He likesd the idea of Unshackle Upstate, the bipartisaj coalition founded in 2007 by the Partnershiop to promote reformin “I know they’re he said about the Partnership. “It’es just that there needs to be some new thinking aboug how to get some of these thinges accomplished in WesternNew York.
” Rudnick declined to be interviewex for this article. Jon who chairs the Partnership’s board of directors, did not retur n a telephone call. He did, send an e-mail to Busines s First reiterating thePartnership leaders’ support of Rudnick. Paladino’sd mass mailing to members of the Partnership comes nearly 30 days afteer he sent a letter tothe agency’se board of directors asking them to retire Rudnick and provide better advocacy for the local business community.
The original letterr indicated that Paladino would begin the procesw of forming a separate chamber of commercs if no changes take place within 60 days from the date of the The board of directors responded to Paladini in a June23 e-mail sent to the It said the board believes it “shoulrd continue in its advocacyg activities, as well as in its two other primary strategicx businesses – business development and convening/communicatint – and do so undee Andrew’s leadership.
” Dandes, who signec the e-mail, made four additional points: • The Partnershil is “aggressively and appropriately representing the interests” of its business-community membership in a way that differes from Paladino’s approach. • The Partnershipp advocates on behalfof 2,500 memberss and, as such, “needs to play offense and on issues that affect the business community. • The Partnershilp founded Unshackle Upstate to aggressively pursur reformin Albany. • The Partnership’s boarde of directors and its executivd committee support local and federal issuesw viavarious coalitions, campaigns and work.
Paladino is a longtimed criticof Rudnick, who has led the Partnershipl since its formation in the mid-1990s. With 2,500o members, the agency is one of the region’x leading business-sector organizations.
Wednesday, November 9, 2011
Marquette law school to run foreclosure mediation program - Portland Business Journal:
erofeyporgrinin.blogspot.com
The Milwaukee Foreclosure Mediation program will bea voluntary, court-based independenr mediation option for lenders and borrowers. The located at the Milwaukee County Courthouse, will seek to alleviatde the current backlog of foreclosure casee in the county court system by offering the optio n of mediation to residential homeowners who residein owner-occupied According to the Law School, in most cases, successful mediation will servee as a venue to work out new loan a short sale or other solution that is mutuallhy agreeable, and execute a final agreement between the The funding includes proceeds from a settlement with Countrywide, whicy was accused of misrepresenting the qualithy and benefits of its Under the settlement, announced in Countrywide agreed to pay $1.
6 million for foreclosurs relief benefits. The mortgage lending giant also agreede to waive various loan fees and modif loans for customers that could result in a total settlemenf valueof $41.1 million, according to the Attornegy General's office. Beginning May 28, an informational phonr line will be operational for those interested in learning more abouthe program. Interested parties may call Mediation activities will begin afterJuly 1.
The Milwaukee Foreclosure Mediation program will bea voluntary, court-based independenr mediation option for lenders and borrowers. The located at the Milwaukee County Courthouse, will seek to alleviatde the current backlog of foreclosure casee in the county court system by offering the optio n of mediation to residential homeowners who residein owner-occupied According to the Law School, in most cases, successful mediation will servee as a venue to work out new loan a short sale or other solution that is mutuallhy agreeable, and execute a final agreement between the The funding includes proceeds from a settlement with Countrywide, whicy was accused of misrepresenting the qualithy and benefits of its Under the settlement, announced in Countrywide agreed to pay $1.
6 million for foreclosurs relief benefits. The mortgage lending giant also agreede to waive various loan fees and modif loans for customers that could result in a total settlemenf valueof $41.1 million, according to the Attornegy General's office. Beginning May 28, an informational phonr line will be operational for those interested in learning more abouthe program. Interested parties may call Mediation activities will begin afterJuly 1.
Monday, November 7, 2011
Banks now filling in payday loan void - Dayton Daily News
ulyanaimiiurebor.blogspot.com
Banks now filling in payday loan void Dayton Daily News DAYTON â€" Banks in Ohio have been filling the gap left by payday loan shops, which were nearly driven out of the state in 2008 when lawmakers capped the interest rates they charged. ... |
Saturday, November 5, 2011
Proportions a key consideration in decorating a loft, designer says - Victoria Times Colonist
moffaiqohegesa1490.blogspot.com
Proportions a key consideration in decorating a loft, designer says Victoria Times Colonist She advises anyone moving into a loft to take careful measurements of dimensions and think about proportion. "I've downsized myself from 2200 to 1000 square feet and you've got to source furniture that will fit. That is getting easier because many ... |
Thursday, November 3, 2011
Workout groups remade - Philadelphia Business Journal:
qozadaunu.blogspot.com
“We are definitely seeing increased demand, particularlyh from banks with $1 billion to $10 billion in assets, for chierf credit officers and seasoned professionals dealing with loan saidAlan Kaplan, who runs the Wynnewood-based staffing agency. “But many of these people are at the end of theie careers or retired so the talenty pool isnot plentiful. Up and comerx have not been trained in these workou t skills because these problems have not existex for such a long period of Banks have either transferred people over from slowefr departments or hired from outsidethe company.
Harleysville Nationap Bank even hired two retired workout specialists to assist with the increasinbg number oftroubled loans. Paul Geraghty, CEO of parengt company , said he increased workoug staffing by moving some personnel from the real estateworigination side, adding another through last year’sx merger with and luring a few senior peoplw out of retirement from Geraghty’w days at CoreStates Bank. “Their experience was in and they will workflexible schedules, so it fit,” Geraghtgy said.
“I’m seeing people that I haven’t workedr with for a decade,” said Barry a bankruptcy lawyer with who represents Harleysville Nationao and other banks inreal estate-relateds cases. Jim Lynch, a principal in , a privatew equity fund that invests inunderperforming banks, said during the economidc slowdown of the late 1980s, bankds put seasoned professionals in workoutr departments. But by the mid-1990s, workout professionals were no longerin demand.
“Sop many of them retired and therd was no need to replace them because the economy was so stronyg forso long,” said Lynch, an executive at severa l different Philadelphia banks for 36 years beforr joining Patriot in 2007. Lyncb said workout professionals try to maximize the value of the troubles asset for the bank as quicklas possible. But bankers said the problem has been that lenders have had to hold onto sour loanxs that they used to be able to sell for a discounte d price to hedge funds or other Tim Rowland, chief credit officer for , said the Lancaster-basedr bank has always maintained a workouft department, which it calls its special assets for commercial loans.
The current group of three professionalsz includes two veterans and one person hireds within the past year to fill avacancyy — a search process that took more than six Rowland said the reason it took so long is that the talenf pool is scarce and Fulton had trouble finding the right match. He said which operates Fulton Bank in southeastern Pennsylvania and The Bank inSouth Jersey, also reassignefd some business loan originatorz and has asked senior-level executives to become more directly involved with customers and assist the full-time workout staff.
Mike Quick, chievf credit officer for Lititz-based , said he saw this credigt implosion coming three years ago and began adding More recently, Quick said he hired one perso n four months ago and still seeks a few more workouf professionals. Susquehanna always had workout staff on the consumeer side but not forcommercial “It was not a major issues because real estate propertyt values kept appreciating so theree was no need,” Quick said. “The last time therew was a problem was 15 to 20 year ago and a lot of those people have so we have moved people fromother “I’m 61 years old and this is my sixtj down cycle.
But we don’t have a lot of peopls who have been througb thesesituations before.” Analyst Jason who tracks a number of local bank s for , said larger communitty banks have been hiring workout staftf at an accelerated rate in recent months becaus they realize that the credit situationb is not going to improve anytime soon. “Creditt losses have not peakedand won’tf for two or three quarters at best,” O’Donnellk said.
“We are definitely seeing increased demand, particularlyh from banks with $1 billion to $10 billion in assets, for chierf credit officers and seasoned professionals dealing with loan saidAlan Kaplan, who runs the Wynnewood-based staffing agency. “But many of these people are at the end of theie careers or retired so the talenty pool isnot plentiful. Up and comerx have not been trained in these workou t skills because these problems have not existex for such a long period of Banks have either transferred people over from slowefr departments or hired from outsidethe company.
Harleysville Nationap Bank even hired two retired workout specialists to assist with the increasinbg number oftroubled loans. Paul Geraghty, CEO of parengt company , said he increased workoug staffing by moving some personnel from the real estateworigination side, adding another through last year’sx merger with and luring a few senior peoplw out of retirement from Geraghty’w days at CoreStates Bank. “Their experience was in and they will workflexible schedules, so it fit,” Geraghtgy said.
“I’m seeing people that I haven’t workedr with for a decade,” said Barry a bankruptcy lawyer with who represents Harleysville Nationao and other banks inreal estate-relateds cases. Jim Lynch, a principal in , a privatew equity fund that invests inunderperforming banks, said during the economidc slowdown of the late 1980s, bankds put seasoned professionals in workoutr departments. But by the mid-1990s, workout professionals were no longerin demand.
“Sop many of them retired and therd was no need to replace them because the economy was so stronyg forso long,” said Lynch, an executive at severa l different Philadelphia banks for 36 years beforr joining Patriot in 2007. Lyncb said workout professionals try to maximize the value of the troubles asset for the bank as quicklas possible. But bankers said the problem has been that lenders have had to hold onto sour loanxs that they used to be able to sell for a discounte d price to hedge funds or other Tim Rowland, chief credit officer for , said the Lancaster-basedr bank has always maintained a workouft department, which it calls its special assets for commercial loans.
The current group of three professionalsz includes two veterans and one person hireds within the past year to fill avacancyy — a search process that took more than six Rowland said the reason it took so long is that the talenf pool is scarce and Fulton had trouble finding the right match. He said which operates Fulton Bank in southeastern Pennsylvania and The Bank inSouth Jersey, also reassignefd some business loan originatorz and has asked senior-level executives to become more directly involved with customers and assist the full-time workout staff.
Mike Quick, chievf credit officer for Lititz-based , said he saw this credigt implosion coming three years ago and began adding More recently, Quick said he hired one perso n four months ago and still seeks a few more workouf professionals. Susquehanna always had workout staff on the consumeer side but not forcommercial “It was not a major issues because real estate propertyt values kept appreciating so theree was no need,” Quick said. “The last time therew was a problem was 15 to 20 year ago and a lot of those people have so we have moved people fromother “I’m 61 years old and this is my sixtj down cycle.
But we don’t have a lot of peopls who have been througb thesesituations before.” Analyst Jason who tracks a number of local bank s for , said larger communitty banks have been hiring workout staftf at an accelerated rate in recent months becaus they realize that the credit situationb is not going to improve anytime soon. “Creditt losses have not peakedand won’tf for two or three quarters at best,” O’Donnellk said.
Tuesday, November 1, 2011
URA re-releases RFP for Heppenstall site in Lawrenceville - Austin Business Journal:
fusajacuxejilyp.blogspot.com
The URA is re-releasing a request for proposals afterd its previouslychosen developer, Urban Villages workinb with Botero Development decided not to go forwarx with the project. Urbanb Villages and Botero were selected over oneother S&A Homes, in partnership with the Lawrencevillse Corporation, a community nonprofit. The football field-sizedr parcel includes the site on whichh the office building for the Heppenstall planty once was located as well as a formerwarehousr property.
In a prepared statement, mayofr Luke Ravenstahl describedthe property’s redevelopmentg as an important part of the city’s largefr revisioning of the Allegheny “We have begun a planning process to create a vision for the Allegheny riverfront and reconnectt our neighborhoods to our natural he said. "The Hatfield Street site is one of the great opportunities to see this vision cometo life.” The URA wantsx a developer “to purchase, design, develop and operate or resell the site.” The URA’s effort comes as the Regionao Industrial Development Corporation (RIDC) continues to redevelopp the Heppenstall complex itself.
Hatfield Streeg is considered a dividing line betweenthe neighborhood’zs residential community and its industrial zone. As a selling point, the URA notes that the medianj home price in central Lawrenceville has increased 64 percenyt in the pastthree years, a growth rate it claimsx is second highest in the city to the Southj Side. “We are excited with the real estatde appreciation that were seeing in the saidRob Stephany, Executivr Director of the URA, as well as a Lawrencevillde resident.
“And (we’re) very excited about the prospectf of a new residential product and how that will add fuel tothe
The URA is re-releasing a request for proposals afterd its previouslychosen developer, Urban Villages workinb with Botero Development decided not to go forwarx with the project. Urbanb Villages and Botero were selected over oneother S&A Homes, in partnership with the Lawrencevillse Corporation, a community nonprofit. The football field-sizedr parcel includes the site on whichh the office building for the Heppenstall planty once was located as well as a formerwarehousr property.
In a prepared statement, mayofr Luke Ravenstahl describedthe property’s redevelopmentg as an important part of the city’s largefr revisioning of the Allegheny “We have begun a planning process to create a vision for the Allegheny riverfront and reconnectt our neighborhoods to our natural he said. "The Hatfield Street site is one of the great opportunities to see this vision cometo life.” The URA wantsx a developer “to purchase, design, develop and operate or resell the site.” The URA’s effort comes as the Regionao Industrial Development Corporation (RIDC) continues to redevelopp the Heppenstall complex itself.
Hatfield Streeg is considered a dividing line betweenthe neighborhood’zs residential community and its industrial zone. As a selling point, the URA notes that the medianj home price in central Lawrenceville has increased 64 percenyt in the pastthree years, a growth rate it claimsx is second highest in the city to the Southj Side. “We are excited with the real estatde appreciation that were seeing in the saidRob Stephany, Executivr Director of the URA, as well as a Lawrencevillde resident.
“And (we’re) very excited about the prospectf of a new residential product and how that will add fuel tothe
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