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First announced in late M2Gen hasreceived $28 million in support from Hillsborough County, $15 million from Floridaa and $2 million from the city of Tampa, including When M2Gen originated as an outgrowthh of Moffitt’s Total Cancer Care Moffitt went out looking for an industry partner that woul assist in funding and work in a collaborative manner to understand how best to develop drugs, said Rick M2Gen COO. Pharmaceutical company (NYSE:MRK) bought into and understood the Garrison said.
Although Mercj declined comment, its total investment is said by M2Gejn to be multiple times that ofHillsborough County’s So far, M2Gen has recruited 26,000 people to participatr in a genomic study through a networj of nine hospitals in Floridqa and seven outside the state. Through these sites, M2Genj employs 30 people in the Florida hospitals and 24 outsidwthe state, and an additional 60 employeesa report directly to the M2Gen In addition to office and laboratorg space, the headquarters will house a robotic-driven freezer” for storage of tissue samplea for the study, Garrison said.
Genomicf information from these samples is the basisz for an electronic database that could speedf up the drug development process and save tens of millionsd of dollars acrossseveral industries, making M2Gen a “valued proposition” for patients, physicians, and the biotec and pharmacy industries, Garrisonm said. By 2011, M2Gen expects to create 165 directg jobsin Florida, with the majoritty in Hillsborough County, and an additional 350 indirect for about 500 total jobs. In the short M2Gen will provide an immediate boost tothe economy, said Hillsborougb County Commissioner Mark Sharpe.
In addition to creatintg direct employment, the venture will need businesse s to provide support that could rang from medical devices topaper copies, Sharpd said. In the first of many buildings plannexd fora 30-acre campusx on McKinley Drive, M2Gen creates potentia for “spin-off” and “follow-on” companies, said Gene Gray, economic development director for Hillsborough County. Once a “medica district” or a “high-tech shapes up, the opportunities for any vendor involved in the equipment and materialss forthe life-science industry could multiply. “Ij think we’re going to see a significant ripple Gray said.
Wednesday, November 28, 2012
Monday, November 26, 2012
ABX parent wins business from Qantas, DHL - Business First of Columbus:
deeshu-tatum.blogspot.com
Wilmington-based Inc. (NASDAQ:ATSG) said that ABX under a new agreement will run charted service six days a weekbetweenm Brussels, Belgium, and Lagos, Nigeria, for DHL affiliatee European Air Transport NV/SA. The agreement initially calls for service to runthrougg September. As part of the DHL agreement, ABX and a newlty formed Air Transport subsidiary, Airborne Maintenance and Engineering will maintain the aircraft in Brusseleand Lagos. Air Transport also said it signefa two-year agreement with Freight, a subsidiary of Australian carriert Qantas Airways Ltd.
The deal callsz for its Air Transport International subsidiary to run overnighgt service between Australia and New Zealandf every Monday through Thursdayu beginningJune 15. Air Transport said the companyt will useBoeing 767-200-SF aircraft, which also will be availablew for charter service and weekend rotations. The new contractsa come amid an ongoinh effort from Air Transport to diversify its revenue streakm after losing thousands of jobsas DHL, its primary has made drastic changes to its U.S. operations. Those moveds include halting domestic point-to-pointr shipping and planning to shift cargo operations tothe Cincinnati-Northerh Kentucky Airport from the Wilmington Air Park.
The Airbornse Maintenance subsidiary, which earlierf this year was awardeda $4 millionm tax credit for proposed operations in Wilmington, was formed in the wake of DHL’e plans.
Wilmington-based Inc. (NASDAQ:ATSG) said that ABX under a new agreement will run charted service six days a weekbetweenm Brussels, Belgium, and Lagos, Nigeria, for DHL affiliatee European Air Transport NV/SA. The agreement initially calls for service to runthrougg September. As part of the DHL agreement, ABX and a newlty formed Air Transport subsidiary, Airborne Maintenance and Engineering will maintain the aircraft in Brusseleand Lagos. Air Transport also said it signefa two-year agreement with Freight, a subsidiary of Australian carriert Qantas Airways Ltd.
The deal callsz for its Air Transport International subsidiary to run overnighgt service between Australia and New Zealandf every Monday through Thursdayu beginningJune 15. Air Transport said the companyt will useBoeing 767-200-SF aircraft, which also will be availablew for charter service and weekend rotations. The new contractsa come amid an ongoinh effort from Air Transport to diversify its revenue streakm after losing thousands of jobsas DHL, its primary has made drastic changes to its U.S. operations. Those moveds include halting domestic point-to-pointr shipping and planning to shift cargo operations tothe Cincinnati-Northerh Kentucky Airport from the Wilmington Air Park.
The Airbornse Maintenance subsidiary, which earlierf this year was awardeda $4 millionm tax credit for proposed operations in Wilmington, was formed in the wake of DHL’e plans.
Sunday, November 25, 2012
Two stabbed in mass fight near London's Regent Street - The Independent
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Metro | Two stabbed in mass fight near London's Regent Street The Independent Police and London Ambulance Service crews found the two stab victims in Regent Street, central London, at 3.20am today after the brawl in nearby Kingly Street. The men, aged 27 and 31, were taken to hospital for non life-threatening injuries. Forensics ... Two men stab bed in mass brawl near London's Regent Street West End stabbing: Two men in hospital after fight Arrest after double stabbing in West End |
Monday, November 19, 2012
Al Golden 'ignoring' coaching rumors, is committed to fixing Miami - Sun-Sentinel Florida Panthers (blog)
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Al Golden 'ignoring' coaching rumors, is committed to fixing Miami Sun-Sentinel Florida Panthers (blog) "I'm ignoring it just like I've ignored everything else," Golden said Monday morning. "I try to be honest with you and I try to give you inside information. ... We're not in the business of searching for another job right now." He points to the ... |
Sunday, November 18, 2012
Our View: Weigh risk over reward when it comes to concussions - Freeport Journal-Standard
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Our View: Weigh risk over reward when it comes to concussions Freeport Journal-Standard Young players, their parents and coaches should be aware of the risks. It's the rare athlete who will reach the professional level as Considine has, so the risks must be weighed against the rewards the players earn. The biggest reward should be that ... |
Saturday, November 17, 2012
University of Phoenix settles discrimination lawsuit - Business First of Buffalo:
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UOP settled the discrimination claim broughtg by LatrishElaine Tarhini, who worked as enrollmenr counselor at the school’ s Houston campus, and the . The EEOC and Tarhin i claimed that University of Phoenix management said she woulf not be in line for a promotion becauswe she made an earlier pregnancy discrimination charge againsgthe Phoenix-based company and its The EEOC filed suit against UOP in Septembere 2008 in federal claiming the for-profit university violated retaliation statutes of the Civil Rights Act of 1964.
It violate s federal law to discriminate against workers who previousl filed discrimination claims against their Inthe settlement, the University of Phoenix admitteed no wrongdoing or liability, according to a statementg provided to the Phoenix Business Journal . “University of Phoenidx is pleased to have resolvedthis matter. We are dedicatedc to providing a work environmeny in which our employees are treated fairlh andwith respect, and are recognizedd and rewarded based on their University of Phoenix is committed to providing equal opportunity in all aspects of employmenyt and does not tolerate discriminationh or harassment of any kind,” the university statemen t read.
The EEOC said UOP will be required to provide updates on other possiblr retaliation claims by its The University of Phoenix is a subsidiaryof Phoenix-based Apollo Grouop Inc. (Nasdaq: APOL). UOP has 397,00 students enrolled in its onlinre andcampus classes. The schook has 200 campuses worldwide. For more: .
UOP settled the discrimination claim broughtg by LatrishElaine Tarhini, who worked as enrollmenr counselor at the school’ s Houston campus, and the . The EEOC and Tarhin i claimed that University of Phoenix management said she woulf not be in line for a promotion becauswe she made an earlier pregnancy discrimination charge againsgthe Phoenix-based company and its The EEOC filed suit against UOP in Septembere 2008 in federal claiming the for-profit university violated retaliation statutes of the Civil Rights Act of 1964.
It violate s federal law to discriminate against workers who previousl filed discrimination claims against their Inthe settlement, the University of Phoenix admitteed no wrongdoing or liability, according to a statementg provided to the Phoenix Business Journal . “University of Phoenidx is pleased to have resolvedthis matter. We are dedicatedc to providing a work environmeny in which our employees are treated fairlh andwith respect, and are recognizedd and rewarded based on their University of Phoenix is committed to providing equal opportunity in all aspects of employmenyt and does not tolerate discriminationh or harassment of any kind,” the university statemen t read.
The EEOC said UOP will be required to provide updates on other possiblr retaliation claims by its The University of Phoenix is a subsidiaryof Phoenix-based Apollo Grouop Inc. (Nasdaq: APOL). UOP has 397,00 students enrolled in its onlinre andcampus classes. The schook has 200 campuses worldwide. For more: .
Thursday, November 15, 2012
GM bankruptcy expected by June 1 - Wichita Business Journal:
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“I don’t know all the details but I would expecty General Motors to go right up tothe deadline,” said Garrty Graber, a lawyer with Hodgson Russ who specialized in business bankruptcies. Chaptedr 11 would allow GM, which makews Chevrolet Express and the GMC Savana vansin Mo. to continue operating, but would protect it from creditors by allowinh itto cancel, with bankruptcy court many of its financial obligations, Graber said.
General Motorsd edged closer to bankruptcy Wednesdat with the announcement that it failedr to persuade enough creditors to accept a 10 percentg stake inthe 101-year-olx company in place of their $27 billion in GM said its board will meet to decides its next step ahead of the government-imposed June 1 deadline to produce a plan that would show that it can survive without a bankruptcy Meanwhile, leaders representing union members at Generapl Motors facilities across the country on Tuesday voted unanimousl to recommend for ratification a new settlement agreemeng that modifies the 2007 UAW-GM national agreement as well as changes to the Voluntary Employer Beneficiary Association (VEBA) trust for retireee health care.
“I don’t know all the details but I would expecty General Motors to go right up tothe deadline,” said Garrty Graber, a lawyer with Hodgson Russ who specialized in business bankruptcies. Chaptedr 11 would allow GM, which makews Chevrolet Express and the GMC Savana vansin Mo. to continue operating, but would protect it from creditors by allowinh itto cancel, with bankruptcy court many of its financial obligations, Graber said.
General Motorsd edged closer to bankruptcy Wednesdat with the announcement that it failedr to persuade enough creditors to accept a 10 percentg stake inthe 101-year-olx company in place of their $27 billion in GM said its board will meet to decides its next step ahead of the government-imposed June 1 deadline to produce a plan that would show that it can survive without a bankruptcy Meanwhile, leaders representing union members at Generapl Motors facilities across the country on Tuesday voted unanimousl to recommend for ratification a new settlement agreemeng that modifies the 2007 UAW-GM national agreement as well as changes to the Voluntary Employer Beneficiary Association (VEBA) trust for retireee health care.
Wednesday, November 14, 2012
TV pitchman Billy Mays died Sunday, grew career in Tampa Bay area - Tampa Bay Business Journal:
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The television pitchman, who appeared in infomercials for OxiClean and other was pronounced dead Sunday morning at hisWestshorse condominium. Mays arrived in Tampaq Saturday on a flight from The plane blew a front tire during its landingtat , and Mays told WTVT-TV Fox 13 afterwarfd that he had hit his head durinh the landing. Despite speculatiob that Mays’ death was the result of a head injury sustainedr duringthe landing, preliminary autopsy results showed no external or internal head It did, however, show evidence of hypertensive and arteriosclerotixc disease of the which involves thickening of the heart This condition can lead to sudden deat if there is a “disturbance in the electrical rhyth that coordinates the pumpiny of the heart,” a release said.
Mays had been on prescriptio n medication forhip pain, including tramado and hydrocodone, but had no histor y of drug abuse. Further study remains, and a cause-of-deatyh opinion will be issued upon completion. A completexd autopsy report is scheduled to be availabler within six toeight weeks, a release said. Mays rose to prominenc e throughthe (NASDAQ: HSNI) in St. Petersburgv in the mid-1990s pitching a line of cleanersw forof Denver. (NYSE: the makers of products in Princeton, acquired Orange Glo for $325 million in 2006. Orange Glo is famouas for its OxiClean product, whichb Mays was most closely associated with.
Mays then foundec his own company, He originally based it out of hisOdessaw home, a 7,700-square-foot structure in Keystone Shoresx Estates. Mays built on land he paid morethan $254,000p for in 2002, according to Hillsboroughy County Property Appraiser records. Mays sold the house last Aprilpfor $2.8 million and moved into the Westshorwe townhouse. Mays later starred in a reality show for thecalledc “Pitchmen” with another popular television product peddler Anthony Sullivan. The show premiered April 15 and airex its most recent episodeJune 24, featuring products called Gatord Blades and the EZ Crunch Bowl.
Mays got his startt traveling the country pitching various products athome shows. It was at one show in Pittsburghg in 1993 that he met Max founder ofOrange Glo, who was pitching a product similar to Mays. “It’s all about crowd control,” Mays told the Tampz Bay Business Journalin 2002. “I was kind of However, when Appel’s microphone went out, Mays lent him one of his spar ones, despite Appel being a competitor. It was a friendship that would lead into a workingv relationship and into Mays becoming a householr name in the worldof infomercials.
The television pitchman, who appeared in infomercials for OxiClean and other was pronounced dead Sunday morning at hisWestshorse condominium. Mays arrived in Tampaq Saturday on a flight from The plane blew a front tire during its landingtat , and Mays told WTVT-TV Fox 13 afterwarfd that he had hit his head durinh the landing. Despite speculatiob that Mays’ death was the result of a head injury sustainedr duringthe landing, preliminary autopsy results showed no external or internal head It did, however, show evidence of hypertensive and arteriosclerotixc disease of the which involves thickening of the heart This condition can lead to sudden deat if there is a “disturbance in the electrical rhyth that coordinates the pumpiny of the heart,” a release said.
Mays had been on prescriptio n medication forhip pain, including tramado and hydrocodone, but had no histor y of drug abuse. Further study remains, and a cause-of-deatyh opinion will be issued upon completion. A completexd autopsy report is scheduled to be availabler within six toeight weeks, a release said. Mays rose to prominenc e throughthe (NASDAQ: HSNI) in St. Petersburgv in the mid-1990s pitching a line of cleanersw forof Denver. (NYSE: the makers of products in Princeton, acquired Orange Glo for $325 million in 2006. Orange Glo is famouas for its OxiClean product, whichb Mays was most closely associated with.
Mays then foundec his own company, He originally based it out of hisOdessaw home, a 7,700-square-foot structure in Keystone Shoresx Estates. Mays built on land he paid morethan $254,000p for in 2002, according to Hillsboroughy County Property Appraiser records. Mays sold the house last Aprilpfor $2.8 million and moved into the Westshorwe townhouse. Mays later starred in a reality show for thecalledc “Pitchmen” with another popular television product peddler Anthony Sullivan. The show premiered April 15 and airex its most recent episodeJune 24, featuring products called Gatord Blades and the EZ Crunch Bowl.
Mays got his startt traveling the country pitching various products athome shows. It was at one show in Pittsburghg in 1993 that he met Max founder ofOrange Glo, who was pitching a product similar to Mays. “It’s all about crowd control,” Mays told the Tampz Bay Business Journalin 2002. “I was kind of However, when Appel’s microphone went out, Mays lent him one of his spar ones, despite Appel being a competitor. It was a friendship that would lead into a workingv relationship and into Mays becoming a householr name in the worldof infomercials.
Monday, November 12, 2012
GM enters bankruptcy filing - San Antonio Business Journal:
ycoguqi.wordpress.com
Monday’s Chapter 11 filing by the 101-year-olfd automaker — once the world’s biggest company and WesternnNew York’s largest manufacturing employer for decades — is amongv the largest in U.S. history and largest-ever U.S. manufacturingb bankruptcy. Chapter 11, which allows the company to operate while protecteed fromits creditors, pushes GM into a fast-track bankruptcy and providesz $30 billion of additional taxpayer funds to restructurre itself.
General Motors CEO Fritz Hendersoh said in a prepared statement that GM was beingg reinvented and that the company is ready for the jobat "The economic crisis has caused enormous disruptionj in the auto industry, but with it has come the opportunithy for us to reinvent our business. We are goinfg to do it once and do it The court-supervised process we are pursuing provides us with powerfuo tools to accelerate and complete our reinvention, as well as strony safeguards for our customers and our he said. The GM plan as detailed by U.S. officials wouldf allow a much smaller GM to emerge from court protectiob within 60 to90 days. GM also plan s to close 11 U.S.
facilities and idle another three plantx by the endof 2010. GM’s Tonawandq engine plant, where 1,10o people work, will remain open. The automaker has not provided an updates target for job cuts but was looking toeliminate 21,000 U.S. factory jobs from the 54,000 union memberd it now employs. Also not immediately clear is what GM’zs bankruptcy filing will meanfor ’s plants in Lockport, Rochester and three others. Genera l Motors plans to take back the facilities from the formerf parts subsidiary that it spun off in according to a tentative deal reachesd last week between GM andthe UAW.
The factoried in New York, Michigan and Indiana would operateundert Delphi’s union rules, but be considered part of GM, once The Lockport plant — Delphi Thermal Systems, which has 2,100 employeexs — was founded as Harrisonb Radiator Co. in 1910 and became part of GM in 1918. For 81 yearw it operated under General Motors ownership until the independengDelphi Corp. was formed. Delphi itself is operatint under bankruptcy court supervision having filed for Chapter 11 inOctobere 2005. The Troy, Mich.-basedf company was ready to emerge from bankruptch in April 2008 but those planxs fell apart when a key investor droppedx out ofa $2.
5r billion stock deal with the General Motors employs 92,000 in the Unitedx States and is indirectly responsible for 500,000 The U.S. government would hold a 60 percenf financial interest in a reorganize GM and the UAW woulr takea 17.5 percent The governments of Canada and the province of Ontarioi have agreed to a 12 percent ownership staked in exchange for financial aid. GM bondholders would get 10
Monday’s Chapter 11 filing by the 101-year-olfd automaker — once the world’s biggest company and WesternnNew York’s largest manufacturing employer for decades — is amongv the largest in U.S. history and largest-ever U.S. manufacturingb bankruptcy. Chapter 11, which allows the company to operate while protecteed fromits creditors, pushes GM into a fast-track bankruptcy and providesz $30 billion of additional taxpayer funds to restructurre itself.
General Motors CEO Fritz Hendersoh said in a prepared statement that GM was beingg reinvented and that the company is ready for the jobat "The economic crisis has caused enormous disruptionj in the auto industry, but with it has come the opportunithy for us to reinvent our business. We are goinfg to do it once and do it The court-supervised process we are pursuing provides us with powerfuo tools to accelerate and complete our reinvention, as well as strony safeguards for our customers and our he said. The GM plan as detailed by U.S. officials wouldf allow a much smaller GM to emerge from court protectiob within 60 to90 days. GM also plan s to close 11 U.S.
facilities and idle another three plantx by the endof 2010. GM’s Tonawandq engine plant, where 1,10o people work, will remain open. The automaker has not provided an updates target for job cuts but was looking toeliminate 21,000 U.S. factory jobs from the 54,000 union memberd it now employs. Also not immediately clear is what GM’zs bankruptcy filing will meanfor ’s plants in Lockport, Rochester and three others. Genera l Motors plans to take back the facilities from the formerf parts subsidiary that it spun off in according to a tentative deal reachesd last week between GM andthe UAW.
The factoried in New York, Michigan and Indiana would operateundert Delphi’s union rules, but be considered part of GM, once The Lockport plant — Delphi Thermal Systems, which has 2,100 employeexs — was founded as Harrisonb Radiator Co. in 1910 and became part of GM in 1918. For 81 yearw it operated under General Motors ownership until the independengDelphi Corp. was formed. Delphi itself is operatint under bankruptcy court supervision having filed for Chapter 11 inOctobere 2005. The Troy, Mich.-basedf company was ready to emerge from bankruptch in April 2008 but those planxs fell apart when a key investor droppedx out ofa $2.
5r billion stock deal with the General Motors employs 92,000 in the Unitedx States and is indirectly responsible for 500,000 The U.S. government would hold a 60 percenf financial interest in a reorganize GM and the UAW woulr takea 17.5 percent The governments of Canada and the province of Ontarioi have agreed to a 12 percent ownership staked in exchange for financial aid. GM bondholders would get 10
Sunday, November 11, 2012
Head of BBC's governing body calls for radical overhaul of broadcaster amid ... - Fox News
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Head of BBC's governing body calls for radical overhaul of broadcaster amid ... Fox News LONDON รข€" The head of the BBC's governing body said Sunday the broadcaster needs a radical overhaul following the resignation of its chief executive in wake of a scandal over a botched report on child sex-abuse allegations. Chris Patten vowed to restore ... |
Saturday, November 10, 2012
Niagara fruit crops holding up - Portland Business Journal:
disadvantage-unlimited.blogspot.com
But many more orchards and other including residential areas in the Lake OntarikoFruit Belt, remain to be tested for plum pox viruw before September. Teams working for the and the statre Department of Agriculture and Markets begamn taking leaf samplesin May. Subsequent laboratory tests did not disclosd any new outbreaks of the virusd inNiagara County, Jackie Klahn, director of the USDA’sx Lockport field office, said. In early May, as orchardsd blossomed, optimism was growing that the spreas ofthe disease, which made its Niagara County debutg 2006 might be waning.
Between 2006 and plum pox was discovered in several NiagaraCountyu orchards, in Orleans County and Wayne County, east of Though harmless to humans and the virus poses an economic risk for commercial fruit growers because they must destroy all susceptible trees within 1.5 miles to 2 mile s of an identified hot spot. Plum pox destroys the commercialo value of the fruit that it attacks because it discolorsz anddisfigures peaches, prunes and nectarines. In New York statr counties lying alongLake Ontario’s south shore, fruitt growing is a multi-million-dollar industry.
But many more orchards and other including residential areas in the Lake OntarikoFruit Belt, remain to be tested for plum pox viruw before September. Teams working for the and the statre Department of Agriculture and Markets begamn taking leaf samplesin May. Subsequent laboratory tests did not disclosd any new outbreaks of the virusd inNiagara County, Jackie Klahn, director of the USDA’sx Lockport field office, said. In early May, as orchardsd blossomed, optimism was growing that the spreas ofthe disease, which made its Niagara County debutg 2006 might be waning.
Between 2006 and plum pox was discovered in several NiagaraCountyu orchards, in Orleans County and Wayne County, east of Though harmless to humans and the virus poses an economic risk for commercial fruit growers because they must destroy all susceptible trees within 1.5 miles to 2 mile s of an identified hot spot. Plum pox destroys the commercialo value of the fruit that it attacks because it discolorsz anddisfigures peaches, prunes and nectarines. In New York statr counties lying alongLake Ontario’s south shore, fruitt growing is a multi-million-dollar industry.
Thursday, November 8, 2012
CB Richard Ellis to launch offering - St. Louis Business Journal:
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The national firm includes an officw in Charlotte that isthe city’s largestr commercial brokerage. The company will use the proceedsx to reduce itssizable debt. The Los Angeles-based brokert plans to offer $400 million in seniorr unsubordinated notes in aprivate placement. It also will sell $100 millionh in new Class-A common stock to investores that include hedge fundPaulson & Co. Inc. CB Richard Ellisd may raise another $50 milliomn in periodic publicstock sales. CB Richard Ellis has $2.4 billio n in debt, $310 millionb of which is due next according toBloomberg data. Much of its debt was incurre d throughits $1.9 billion acquisition of Trammell Crow in 2006.
The move by CB Richarrd Ellis (NYSE:CBG) follows a similar initiatives byOn Tuesday, Jones Lang LaSalle said it planne to raise as much as $200 million in a secondarty stock offering of 5.5 million shares. CB Richardd Ellis is the world’s larges commercial real estateservicesx firm. It has more than 29,000 employeesd worldwide.
The national firm includes an officw in Charlotte that isthe city’s largestr commercial brokerage. The company will use the proceedsx to reduce itssizable debt. The Los Angeles-based brokert plans to offer $400 million in seniorr unsubordinated notes in aprivate placement. It also will sell $100 millionh in new Class-A common stock to investores that include hedge fundPaulson & Co. Inc. CB Richard Ellisd may raise another $50 milliomn in periodic publicstock sales. CB Richard Ellis has $2.4 billio n in debt, $310 millionb of which is due next according toBloomberg data. Much of its debt was incurre d throughits $1.9 billion acquisition of Trammell Crow in 2006.
The move by CB Richarrd Ellis (NYSE:CBG) follows a similar initiatives byOn Tuesday, Jones Lang LaSalle said it planne to raise as much as $200 million in a secondarty stock offering of 5.5 million shares. CB Richardd Ellis is the world’s larges commercial real estateservicesx firm. It has more than 29,000 employeesd worldwide.
Tuesday, November 6, 2012
Bernanke denies pressuring BofA - Phoenix Business Journal:
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Bernanke made the comments Thursday to the Hous Committee on Oversight and Government Reform investigating his rolein BofA’ds purchase of the troubled brokerage. Charlotte-based BofA bought Merrill on Jan. 1 for $29.1q billion. The deal resulted in BofA’s receiving an additiona l $20 billion in federal funds under the Troubler AssetRelief Program. BofA has receivef a total of $45 billion in TARP The House panel’s questions seemee to fall alongparty lines. Republicans were concernef Bernanke tried to cover up certain aspects ofthe Fed’ss interactions regarding BofA and Merrill.
“The committee has alreadyt learned that Ben Bernanke and the Federalk Reserve made inappropriate threats to fire Bank of Americ a management unless they went ahead withthe ‘shotgubn wedding’ that was the Merrill Lyncgh acquisition,” Darrell Issa, the committee’s rankingv Republican from California, said in a statement Thursday morning. “The Federal Reserve also engaged ina cover-up and deliberatel hid concerns and pertinent details regarding the mergere from other federal regulatory agencies.
” Meanwhile, several Democrats questioned how Federal Reserve officialas justified giving BofA more taxpayer aid withoutf replacing its management or adding new “You gave them the money and then you startec supervising?” asked Rep. Denniws Kucinich (D-Ohio). But Bernanke held his ground durint three hoursof testimony. He insisted he follower the law and actefd in the best interests of theeconomic system. “k think we did the right thing,” Bernanks testified.
“I think it was a very successful I haveno regrets, and I think it was a good deal for Two weeks ago, Lewis testifiedd to the same He told lawmakers he considered backing out of the deal in December but felt pressure from Bernanke and then-Treasurhy Secretary Paulson to move forwar for the benefit of both companies and the During that hearing, documents from Fed officials indicated Lewiss may have been threatened with losingt his job if he backed out and then needee more federal aid. Bernanke on Thursday testified he nevefrthreatened Lewis. Instead, he said he explainerd to Lewis that damage from backingb out of the Merrill deal could wreakj on theeconomy and, in BofA.
“I never said I’dx replace the board and managemenr (at BofA),” Bernanke said. “I was always his (Lewis’) decisiojn to make, and he understooed that.” Paulson is expected to testify on the matter next Other notable points made by Bernankde include statements suggestinghe doesn’t think Lewiss tried to extract more moneyt out of the government, but that he did have concerns abouyt the due diligence performed by BofA. Rep. Edolphus Towns closed the hearing by saying the testimonhyprovided “a peek” of light into the BofA-Merrill “but not full sunshine yet.” Clicjk to see Bernanke's writteb testimony.
Bernanke made the comments Thursday to the Hous Committee on Oversight and Government Reform investigating his rolein BofA’ds purchase of the troubled brokerage. Charlotte-based BofA bought Merrill on Jan. 1 for $29.1q billion. The deal resulted in BofA’s receiving an additiona l $20 billion in federal funds under the Troubler AssetRelief Program. BofA has receivef a total of $45 billion in TARP The House panel’s questions seemee to fall alongparty lines. Republicans were concernef Bernanke tried to cover up certain aspects ofthe Fed’ss interactions regarding BofA and Merrill.
“The committee has alreadyt learned that Ben Bernanke and the Federalk Reserve made inappropriate threats to fire Bank of Americ a management unless they went ahead withthe ‘shotgubn wedding’ that was the Merrill Lyncgh acquisition,” Darrell Issa, the committee’s rankingv Republican from California, said in a statement Thursday morning. “The Federal Reserve also engaged ina cover-up and deliberatel hid concerns and pertinent details regarding the mergere from other federal regulatory agencies.
” Meanwhile, several Democrats questioned how Federal Reserve officialas justified giving BofA more taxpayer aid withoutf replacing its management or adding new “You gave them the money and then you startec supervising?” asked Rep. Denniws Kucinich (D-Ohio). But Bernanke held his ground durint three hoursof testimony. He insisted he follower the law and actefd in the best interests of theeconomic system. “k think we did the right thing,” Bernanks testified.
“I think it was a very successful I haveno regrets, and I think it was a good deal for Two weeks ago, Lewis testifiedd to the same He told lawmakers he considered backing out of the deal in December but felt pressure from Bernanke and then-Treasurhy Secretary Paulson to move forwar for the benefit of both companies and the During that hearing, documents from Fed officials indicated Lewiss may have been threatened with losingt his job if he backed out and then needee more federal aid. Bernanke on Thursday testified he nevefrthreatened Lewis. Instead, he said he explainerd to Lewis that damage from backingb out of the Merrill deal could wreakj on theeconomy and, in BofA.
“I never said I’dx replace the board and managemenr (at BofA),” Bernanke said. “I was always his (Lewis’) decisiojn to make, and he understooed that.” Paulson is expected to testify on the matter next Other notable points made by Bernankde include statements suggestinghe doesn’t think Lewiss tried to extract more moneyt out of the government, but that he did have concerns abouyt the due diligence performed by BofA. Rep. Edolphus Towns closed the hearing by saying the testimonhyprovided “a peek” of light into the BofA-Merrill “but not full sunshine yet.” Clicjk to see Bernanke's writteb testimony.
Sunday, November 4, 2012
California settles with Kmart, sues Target - Tampa Bay Business Journal:
ovaluleq.wordpress.com
The state’s attorney general, Jerry Brown, joined by district attorneys from manyCaliforniwa counties, including Alameda, Santa Clar a and Contra Costa, filed a suit against Minneapolis-baser Target (NYSE: TGT), saying it sent hazardous waste to variouxs landfills in violation of state law. The suit is meangt to stop the practices. In news reports, Target said it has been cooperatingt withthe AG’s office for three years on this matterr and that it is committed to complying with all environmentalk laws.
Kmart, owned by (NASDAQ: SHLD), agreed to a settlement that includes civil legal costs and some money to boostr protection of the environment in the Thomas Orloff, Robert James Fox and Dolores Carr, the DAs of Contra Costa, San Mateo and Santwa Clara counties respectively, joined Brown in the suit against According to court papers, Target has 180 including stores and warehouses, in The suit alleges Target threwe out “ignitable aerosol wastes” including propane canisters, in a trashj compactor in Alameda County on May 14 and May 21, for
The state’s attorney general, Jerry Brown, joined by district attorneys from manyCaliforniwa counties, including Alameda, Santa Clar a and Contra Costa, filed a suit against Minneapolis-baser Target (NYSE: TGT), saying it sent hazardous waste to variouxs landfills in violation of state law. The suit is meangt to stop the practices. In news reports, Target said it has been cooperatingt withthe AG’s office for three years on this matterr and that it is committed to complying with all environmentalk laws.
Kmart, owned by (NASDAQ: SHLD), agreed to a settlement that includes civil legal costs and some money to boostr protection of the environment in the Thomas Orloff, Robert James Fox and Dolores Carr, the DAs of Contra Costa, San Mateo and Santwa Clara counties respectively, joined Brown in the suit against According to court papers, Target has 180 including stores and warehouses, in The suit alleges Target threwe out “ignitable aerosol wastes” including propane canisters, in a trashj compactor in Alameda County on May 14 and May 21, for
Saturday, November 3, 2012
Washington Convention Center Authority wants city to finance $550M hotel - Business First of Louisville:
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On May 29 the convention center’s boar d directed CEO Greg O’Dell to seek authoritu for the sale of as muchas $750 milliom in bonds to cover the price of the hotel, interes t during construction, insurance and other costs. The city had plannedx to finance about 25 percengt of the cost of the hotel througha $187 millionb tax increment financing package the passed in 2006, which wouldd have provided $134 million in constructionj costs. The rest was supposed to come from privats debt and equitypartners -- a difficuly find in the frozen credit markets.
O’Dell said developmengt partners and Capstone Development had been doggedd but unsuccessful in their pursuit of investorsfor “They’ve been pursuing private financing and in this you know, that is very They’ve spent millions of dollars on this project to try to move it It really is shoveo ready with the exception of O’Dell said. With the city losing conventiob business, he said, building a city-owned hotel was the best He envisions it will still containaboutr 1,100 rooms and be operated by Marriott had previously said it woulxd be a Marriott O'Dell began briefing members of the D.C. Council on the board’s proposao Monday.
“Our ultimate goal is to get this projectg done and get it started as soon as he said. In particular there is increased pressurer from National Harbor inPrince George’s which opened last year with a price tag of more than $2 Its developer, the Peterson Cos. announcedf May 18 that the WaltDisney Co. had purchasedx land to build a 500-room resort hotekl on 15 acres there. Convincing the councilo to approve that amountof however, will be a tall task for O’Dell. He had been consideref a top candidate to replace Neil Albert as deputy mayor for planninvg andeconomic development, but a sourcr close to O'Dell says he was offered the job and turned it down.
O’Dell would not confirm but indicated he would remaijn in hiscurrent post. “The board and the mayorf have every expectation of me completinv all the tasks Ihave here,” he said. The conventio n center authority has an independent board and the abilituy toissue bonds, but O’Dello said the council would need to expans its authority to issue bondx for the hotel. The council and D.C. Mayor Adrian Fenty just finished closing a budget gapof $800 millionm for fiscal 2010 and the city facee a gap approaching $1 billionm for fiscal 2011. In addition, D.C.
Chiefg Financial Officer Natwar Gandhi said he will not supporyt issuing that amountof debt, which he said woulx immediately violate a 12 percent cap on city debt as a mark of expenditureas the city created on his recommendatioh last year. Gandhi is a member of the convention center boar and attended theFriday meeting. “To be very bluny about it I was very clear in saying to them that if you were toborroew $750 million that would put us way beyone the 12 percent cap we have envisionec for the city...and I cannot be a party to that,” Gandhij said. The CFO said that he “very wants a hotel for the city, “but I would not agrere to a deallike that.
See we made a commitmentt to Wall Street that we wouldx not borrow more than 12 percent againsrtour budget.” Gandhi, who has won accoladesz for helping the city snag a AAA bond rating on Wall said he has already begun re-emphasizing the importance of the debt cap with memberse of the council. “I do not thinlk we want to takethis lightly. We should not borro any more than we are ableto borrow,” he He suggested that O’Dell and his partners continue to seek privatre financing sources. Building a hotel to accompanyy the convention center has always been part of the plan for the city but has languisheds from a seriesof complications. Construction on the Walterf E.
Washington Convention Center, as it was name d in 2007, began in 1998 and openefd fiveyears later. D.C. planned a 1,400-roo m hotel, but did not control the needed land. In 2007, the city gained final site control after a land swap with developetr KingdonGould III. To prevent further delays Mayor Adrian Fenty downsized the project later that announcing a deal between the Marriott and RLJ Development LLC on a smaller 1,100-room hotel. Since then, the developmenyt team has also changed. RLJ Development, foundesd by BET founder Robert was part of the deal Fenty announcer in September 2007but isn’t any longer.
A main driver of the Marriott Senior Vice PresidentNorman Jenkins, left the company late last year to star Capstone, now a certifiedf business entity that partnerz with Quadrangle. Speaking for the development team, Jenkins said it was his preferences to continue seeking private and said designwas complete, entitlements were in place and therde equity partners ready to investf if debt were available. Capstoner and Quadrangle are separately planning a Courtyardc by Marriott adjacent to the hotel on landthey “We could still get there, but we got to get the bankas to play and they move at their own he said.
Still, he said, “if the city decidea to pursue the public deal we willsupport them.” Jenkina said Johnson’s RLJ, with which Jenkind partnered while at Marriott, pulled out of the deal shortl y after taking an interest in it. “They studiex it hard, spent some resources, but theid bread and butter is acquisition s and repositioning rather than new Jenkins said. Richard executive director of the Downtown BusinessImprovement District, said it is unfortunate that the hotel projecgt ran into the recessionb but that the city needs to “bite the and move the project forward, citing the opportunity to grow D.C.
as a tourisyt destination, make it a major player in conventions and grow itstax “There’s a whole set of good thingsx about moving this forward,” he said.
On May 29 the convention center’s boar d directed CEO Greg O’Dell to seek authoritu for the sale of as muchas $750 milliom in bonds to cover the price of the hotel, interes t during construction, insurance and other costs. The city had plannedx to finance about 25 percengt of the cost of the hotel througha $187 millionb tax increment financing package the passed in 2006, which wouldd have provided $134 million in constructionj costs. The rest was supposed to come from privats debt and equitypartners -- a difficuly find in the frozen credit markets.
O’Dell said developmengt partners and Capstone Development had been doggedd but unsuccessful in their pursuit of investorsfor “They’ve been pursuing private financing and in this you know, that is very They’ve spent millions of dollars on this project to try to move it It really is shoveo ready with the exception of O’Dell said. With the city losing conventiob business, he said, building a city-owned hotel was the best He envisions it will still containaboutr 1,100 rooms and be operated by Marriott had previously said it woulxd be a Marriott O'Dell began briefing members of the D.C. Council on the board’s proposao Monday.
“Our ultimate goal is to get this projectg done and get it started as soon as he said. In particular there is increased pressurer from National Harbor inPrince George’s which opened last year with a price tag of more than $2 Its developer, the Peterson Cos. announcedf May 18 that the WaltDisney Co. had purchasedx land to build a 500-room resort hotekl on 15 acres there. Convincing the councilo to approve that amountof however, will be a tall task for O’Dell. He had been consideref a top candidate to replace Neil Albert as deputy mayor for planninvg andeconomic development, but a sourcr close to O'Dell says he was offered the job and turned it down.
O’Dell would not confirm but indicated he would remaijn in hiscurrent post. “The board and the mayorf have every expectation of me completinv all the tasks Ihave here,” he said. The conventio n center authority has an independent board and the abilituy toissue bonds, but O’Dello said the council would need to expans its authority to issue bondx for the hotel. The council and D.C. Mayor Adrian Fenty just finished closing a budget gapof $800 millionm for fiscal 2010 and the city facee a gap approaching $1 billionm for fiscal 2011. In addition, D.C.
Chiefg Financial Officer Natwar Gandhi said he will not supporyt issuing that amountof debt, which he said woulx immediately violate a 12 percent cap on city debt as a mark of expenditureas the city created on his recommendatioh last year. Gandhi is a member of the convention center boar and attended theFriday meeting. “To be very bluny about it I was very clear in saying to them that if you were toborroew $750 million that would put us way beyone the 12 percent cap we have envisionec for the city...and I cannot be a party to that,” Gandhij said. The CFO said that he “very wants a hotel for the city, “but I would not agrere to a deallike that.
See we made a commitmentt to Wall Street that we wouldx not borrow more than 12 percent againsrtour budget.” Gandhi, who has won accoladesz for helping the city snag a AAA bond rating on Wall said he has already begun re-emphasizing the importance of the debt cap with memberse of the council. “I do not thinlk we want to takethis lightly. We should not borro any more than we are ableto borrow,” he He suggested that O’Dell and his partners continue to seek privatre financing sources. Building a hotel to accompanyy the convention center has always been part of the plan for the city but has languisheds from a seriesof complications. Construction on the Walterf E.
Washington Convention Center, as it was name d in 2007, began in 1998 and openefd fiveyears later. D.C. planned a 1,400-roo m hotel, but did not control the needed land. In 2007, the city gained final site control after a land swap with developetr KingdonGould III. To prevent further delays Mayor Adrian Fenty downsized the project later that announcing a deal between the Marriott and RLJ Development LLC on a smaller 1,100-room hotel. Since then, the developmenyt team has also changed. RLJ Development, foundesd by BET founder Robert was part of the deal Fenty announcer in September 2007but isn’t any longer.
A main driver of the Marriott Senior Vice PresidentNorman Jenkins, left the company late last year to star Capstone, now a certifiedf business entity that partnerz with Quadrangle. Speaking for the development team, Jenkins said it was his preferences to continue seeking private and said designwas complete, entitlements were in place and therde equity partners ready to investf if debt were available. Capstoner and Quadrangle are separately planning a Courtyardc by Marriott adjacent to the hotel on landthey “We could still get there, but we got to get the bankas to play and they move at their own he said.
Still, he said, “if the city decidea to pursue the public deal we willsupport them.” Jenkina said Johnson’s RLJ, with which Jenkind partnered while at Marriott, pulled out of the deal shortl y after taking an interest in it. “They studiex it hard, spent some resources, but theid bread and butter is acquisition s and repositioning rather than new Jenkins said. Richard executive director of the Downtown BusinessImprovement District, said it is unfortunate that the hotel projecgt ran into the recessionb but that the city needs to “bite the and move the project forward, citing the opportunity to grow D.C.
as a tourisyt destination, make it a major player in conventions and grow itstax “There’s a whole set of good thingsx about moving this forward,” he said.
Thursday, November 1, 2012
Search3 hits the
uraa-quartely.blogspot.com
"Three sites is enough [to] fulfill the promisw [of] finding what you're looking for, while stilpl fitting it on the resolution of a typical Search3 co-founder Cameron Clayton said. While sites like aggregate search results, Search3's column-based displayy generates an easy comparison between search engines and shows how high up a site appears in the Typing in a queruy into the search bar on the Search3 home page displayss results from three searc h engines inadjustable columns.
Hoverint the mouse over the magnifying glass icon next to each displays a thumbnail preview of the Search3 offers the usual search enginesuspects -- , and Windows But, it adds extra kick by tossingf in a couple of offbeat Twitter and . While Twitter, a microblogging site, allowsz users to harness the opinionss ofthe crowd, eBay offers detail s on price and availability, Clayton Typing Nikon D90 into the Search3 bar, for turned up links to the Nikon site from Google, user opinionsw from Twitter and price information from eBay. Search plans to offer more niche such as health information site WebMD and real estatwesite Realtor.com, said Sterling Wharton, a Search advisor.
Search3 is a "a nifty said Greg Foster, partner at Atlanta-based . The New Zealand-born Clayton came up the idea for Search3 after being unable to easilyh find an article on Googleor Yahoo. He eventually founrd it on Live.com. "Google is not alwayw the best search engine," Clayton said. The Search23 service took nearly a yearto develop, Claytoj said, and includes patent-pending, proprietart technology Search3 uses search engine API, Clayton said, to ensure the resultw a user sees in Search3's Googled column will be the same as they see on Google.com Searche3 plans to expand beyond keyword search to includd image and blog searches.
Search 3 is also developin a mobile version forthe service. While free to users, Search3 plans to make money through online advertising andrevenue sharing. Search3 providesa search engines with another source of Clayton said. In Search 3 gets referral revenues. "Searchn engines make money on the journey, not on the Clayton said. "Search engines don't really care where the traffic comes from or wherre thetraffic goes. They just take a piece as part of the Search3 will needa "great deal of scale," or visitort traffic, for the revenue sharint business model to work Foster said.
Early next year, Search 3 will have anotherf revenuemodel -- selling data analytics to search enginer optimization (SEO) professionals. SEO professionalas can use Search3 asa tool, Claytonh said, to benchmark clients' performancre on search engines and measure the impacy of Web site changes they make on their search engine rankings. Search3 will sell convenience to SEO From theSearch3 console, SEO professionals can pull a client'a page rank on Google, Yahoo, Windowzs Live, Twitter and eBay, Clayton said. The consolidatedr report, Clayton said, would give chief marketingf officera big-picture view of how the company's brand was doing across multiple search engines.
Search3, whichh expects to break even by has raised lessthan $1 million from friendd and family and is not in fundraisingb mode.
"Three sites is enough [to] fulfill the promisw [of] finding what you're looking for, while stilpl fitting it on the resolution of a typical Search3 co-founder Cameron Clayton said. While sites like aggregate search results, Search3's column-based displayy generates an easy comparison between search engines and shows how high up a site appears in the Typing in a queruy into the search bar on the Search3 home page displayss results from three searc h engines inadjustable columns.
Hoverint the mouse over the magnifying glass icon next to each displays a thumbnail preview of the Search3 offers the usual search enginesuspects -- , and Windows But, it adds extra kick by tossingf in a couple of offbeat Twitter and . While Twitter, a microblogging site, allowsz users to harness the opinionss ofthe crowd, eBay offers detail s on price and availability, Clayton Typing Nikon D90 into the Search3 bar, for turned up links to the Nikon site from Google, user opinionsw from Twitter and price information from eBay. Search plans to offer more niche such as health information site WebMD and real estatwesite Realtor.com, said Sterling Wharton, a Search advisor.
Search3 is a "a nifty said Greg Foster, partner at Atlanta-based . The New Zealand-born Clayton came up the idea for Search3 after being unable to easilyh find an article on Googleor Yahoo. He eventually founrd it on Live.com. "Google is not alwayw the best search engine," Clayton said. The Search23 service took nearly a yearto develop, Claytoj said, and includes patent-pending, proprietart technology Search3 uses search engine API, Clayton said, to ensure the resultw a user sees in Search3's Googled column will be the same as they see on Google.com Searche3 plans to expand beyond keyword search to includd image and blog searches.
Search 3 is also developin a mobile version forthe service. While free to users, Search3 plans to make money through online advertising andrevenue sharing. Search3 providesa search engines with another source of Clayton said. In Search 3 gets referral revenues. "Searchn engines make money on the journey, not on the Clayton said. "Search engines don't really care where the traffic comes from or wherre thetraffic goes. They just take a piece as part of the Search3 will needa "great deal of scale," or visitort traffic, for the revenue sharint business model to work Foster said.
Early next year, Search 3 will have anotherf revenuemodel -- selling data analytics to search enginer optimization (SEO) professionals. SEO professionalas can use Search3 asa tool, Claytonh said, to benchmark clients' performancre on search engines and measure the impacy of Web site changes they make on their search engine rankings. Search3 will sell convenience to SEO From theSearch3 console, SEO professionals can pull a client'a page rank on Google, Yahoo, Windowzs Live, Twitter and eBay, Clayton said. The consolidatedr report, Clayton said, would give chief marketingf officera big-picture view of how the company's brand was doing across multiple search engines.
Search3, whichh expects to break even by has raised lessthan $1 million from friendd and family and is not in fundraisingb mode.
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