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And the company hopexs to break ground on its permanent headquartersz earlynext year. BlueHarbor opened in January afte raising morethan $20 milliom in startup capital. The bank, headed by Chiefc Executive Jim Marshall, is targeting small-busineszs and retail customers in the Lake Norman Marshall hopes to openthe bank'sd second location in a branch buildinf formerly occupied by "We think it's a great opportunity for us," says Marshall, who previously was CEO of and spen t 15 years with First Citizens "We're pleased with where we are in our youngv life cycle.
" BlueHarbor pland to build its permanent headquarters on the same lot where its temporary building is located in the Morrisom Plantation development. At the end of the firstt quarter, BlueHarbor had $26 million in assets and reporte a lossof $1.3 Startup banks typically don't turn a profit in their firsr two years of business as they build up loanz to generate interest income. Marshall says the bank is makingg a fair number of loans to small but it's doing relatively few constructiojn and development deals due to the real estate The bank has hired a branch managert for its new location -- a former employeed of the former , which was recently acquired by Cincinnati-based .
Marshalol says a few First Charterf customers have visited BlueHarbor expressing interestg in movingtheir accounts, which he says is standard when a loca bank disappears because of merger. "Fifth Third can do everything but there's just a certain amount of peopl that want to remain with a locall bank," he says. Much of BlueHarbor'es business model is based on the approachof Portland, Ore.-baser . The company favors stylish "stores" that offer free wireles Internet access andthe bank's own brand of coffee. BlueHarborf is already offering its own a Costa Rican blendd made for the bank byDilworth Coffee.
"Wee recognize we're in the marketing businessx -- we're just marketing bank products and servicesa and giving them a retail spin that mostbanks don't employ," Marshall says. When Fift h Third Bancorp's acquisition of Charlotte-basedx First Charter Corp. closed this the majority of the company's more than 35 million shares were exchangeds for FifthThird stock. As part of its purchase, Fiftb Third agreed to pay cash for upto 30% of Firsty Charter's total shares.
After last week, some of thoser new Fifth Third shareholders may be wishing they had been part ofthat 30% Last Friday, shares of Fifth Third dropped more than 10% as an analysgt at projected the $111 billion-asset bank will have to cut its dividenx and raise new capital due to anticipated loan losses in its mortgags portfolio. About a third of the bank's loan portfolio is in Floridsand Michigan, two states hit hard by the housing The stock price dropped an additional 14% Wednesdayg morning, after Fifth Third said it would slashj its second-quarter dividend to 15 cents per sharde from the 44 cents it paid in the firsty quarter.
Also, the company confirmed it is launchingf a stock offering in an effortg to shore up itscapital position. In addition, the Cincinnati-basexd bank plans to sell severalnoncore businesses. It didn'g identify which businesses it will Bynoon Wednesday, Fifth Third shares had dropped to $10.89 from Tuesday' closing price of $12.73. Fifth Third paid $31 for each shar of First Charter, or about $1.1 billion for the $4.8 billion-asset The deal has given it 57 branches in North Carolina and two insuburbamn Atlanta. The bank converteds First Charter's computer systems and branches on June 9 and unveiles new signs thesame day.
Bob James, formerly chiefv executive of First Charter, is president of Fifth Third's Northu Carolina affiliate.
Tuesday, May 31, 2011
Sunday, May 29, 2011
Report: 4 million Americans lost health insurance since recession began - Phoenix Business Journal:
zyluzugizovota.blogspot.com
The report also claims at least half of the 4 millionm who lost their insurance coverage stillare uninsured. Beforer the recession started there were an estimated 46 million Americanes withouthealth insurance. The recentg rocky economic climate, however, has likelty increased the number of uninsuredd at the rateof 14,000 a day, accordinh to the center. The report uses estimates from Urban Institute researchers that a one percentager point rise in the national unemploymen t ratecauses 2.4 million people to lose employer-sponsoredr health coverage. Of thoswe people, 1 million rely on Medicaid orthe Children’as Health Insurance Program and 1.1 million end up uninsured.
Sinc data was last collected in thesprinbg 2007, the unemployment rate has grownh from 4.4 percent to 7.6 percent, and as a an estimated 3.5 million people have lost their health insurancee and are now
The report also claims at least half of the 4 millionm who lost their insurance coverage stillare uninsured. Beforer the recession started there were an estimated 46 million Americanes withouthealth insurance. The recentg rocky economic climate, however, has likelty increased the number of uninsuredd at the rateof 14,000 a day, accordinh to the center. The report uses estimates from Urban Institute researchers that a one percentager point rise in the national unemploymen t ratecauses 2.4 million people to lose employer-sponsoredr health coverage. Of thoswe people, 1 million rely on Medicaid orthe Children’as Health Insurance Program and 1.1 million end up uninsured.
Sinc data was last collected in thesprinbg 2007, the unemployment rate has grownh from 4.4 percent to 7.6 percent, and as a an estimated 3.5 million people have lost their health insurancee and are now
Friday, May 27, 2011
Federal Way wants promised rail line - The Seattle Times
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The Seattle Times | Federal Way wants promised rail line The Seattle Times Federal Way's mayor lamented to Sound Transit Thursday that his "working-class" suburb is being shortchanged in the struggle for transportation now that Link light rail won't make it there by 2023. By Mike Lindblom "Seattle Mayor Mike McGinn pointed to ... |
Tuesday, May 24, 2011
New investment bank carves out its niche - Atlanta Business Chronicle:
wood siding installation
You’d be wrong, according to Doug Reynolds, who just foundex , a boutique investmeny bank specializing in mergersand acquisitions. “Wr think it’s a great time to do Reynolds said. “It may result in more difficulrt deals out ofthe chute, because ther e are very few industries that haven’t been impactedx by this environment. But given our business model and the fact that we have enoughu capital to go through this and come out the othe rside ... we have the ability to take very difficulrt transactions and turn them intoprofitable outcomes.
” a former managing director at Denver-based investmen t bank Headwaters MB, has teamed with Rod who previously headed ’ Los Angeles investment banking office. They are joinedc by Sue Field, most recentl CFO of Lakewood-based Vitamin Cottage Natural Field worked forMerrill Lynch’s mergers-and-acquisitions group in New York from 1985 to becoming the company’s third female managing director in 1996. She led a strategi reprioritizationat Sears, Roebuck in the late Reynolds, Essen and Fields collectively have completes 240 transactions worth an aggregate $64 billion, they Reynolds and Essen met years ago at A.G. where Reynolds worked for 17 years and Esse nfor 11.
What they learned at A.G. Edwards still guidesz them, Reynolds said. “There was an environment therw that allowed us to practice our own judgmentg about what was best forthe client,” he “What was interesting was that it develope d into a very profitable thing.” For in the mid-1990s, Reynolds helped sell Walclo International, a large veterinary supply companyh based in Porterville, Calif. He learnesd after the engagement thatthe company’d founder, F. Willard had end-stage cancer. “We thought we were very closre to closing a but it ended up taking us over a Reynolds said.
“We went over accounting fraud, we had to redo his entirw estate becauseit didn’t allow for a proper we had a big family fight to deal we had litigation from an employee to deal we had to restructure the deal’s financing to provids liquidity to the future widow, and then we had his deatyh in the middle of the We had this giant soap opera. “It was only a $600,000 fee, whichy in our world isn’t a wholes lot,” Reynolds said. “To make 15 trips to Calif., and spend two-thirds of my year on the … But every time I’d go up to Ben who was our chairman atthe he’d say ‘just do the right thing.’ That was all he carec about.
” The happy ending came when Bain Capital, a Boston-basexd investment firm, bought Walco in 1997 for $100 Wall’s widow invested the money with A.G. Edwards, and Reynolds got $10 million in referrapl business and a seaton Walco’s board of he said. That commitment to personal service is what he intends to bringh to ReynoldsAdvisory Partners. “We’re tryinb to differentiate ourselves by the level of experience andservice we’rw going to provide,” he said.
“Buy keeping the relationship strong, you builsd up such a client trust that it allow for a veryhigh [deal] close
You’d be wrong, according to Doug Reynolds, who just foundex , a boutique investmeny bank specializing in mergersand acquisitions. “Wr think it’s a great time to do Reynolds said. “It may result in more difficulrt deals out ofthe chute, because ther e are very few industries that haven’t been impactedx by this environment. But given our business model and the fact that we have enoughu capital to go through this and come out the othe rside ... we have the ability to take very difficulrt transactions and turn them intoprofitable outcomes.
” a former managing director at Denver-based investmen t bank Headwaters MB, has teamed with Rod who previously headed ’ Los Angeles investment banking office. They are joinedc by Sue Field, most recentl CFO of Lakewood-based Vitamin Cottage Natural Field worked forMerrill Lynch’s mergers-and-acquisitions group in New York from 1985 to becoming the company’s third female managing director in 1996. She led a strategi reprioritizationat Sears, Roebuck in the late Reynolds, Essen and Fields collectively have completes 240 transactions worth an aggregate $64 billion, they Reynolds and Essen met years ago at A.G. where Reynolds worked for 17 years and Esse nfor 11.
What they learned at A.G. Edwards still guidesz them, Reynolds said. “There was an environment therw that allowed us to practice our own judgmentg about what was best forthe client,” he “What was interesting was that it develope d into a very profitable thing.” For in the mid-1990s, Reynolds helped sell Walclo International, a large veterinary supply companyh based in Porterville, Calif. He learnesd after the engagement thatthe company’d founder, F. Willard had end-stage cancer. “We thought we were very closre to closing a but it ended up taking us over a Reynolds said.
“We went over accounting fraud, we had to redo his entirw estate becauseit didn’t allow for a proper we had a big family fight to deal we had litigation from an employee to deal we had to restructure the deal’s financing to provids liquidity to the future widow, and then we had his deatyh in the middle of the We had this giant soap opera. “It was only a $600,000 fee, whichy in our world isn’t a wholes lot,” Reynolds said. “To make 15 trips to Calif., and spend two-thirds of my year on the … But every time I’d go up to Ben who was our chairman atthe he’d say ‘just do the right thing.’ That was all he carec about.
” The happy ending came when Bain Capital, a Boston-basexd investment firm, bought Walco in 1997 for $100 Wall’s widow invested the money with A.G. Edwards, and Reynolds got $10 million in referrapl business and a seaton Walco’s board of he said. That commitment to personal service is what he intends to bringh to ReynoldsAdvisory Partners. “We’re tryinb to differentiate ourselves by the level of experience andservice we’rw going to provide,” he said.
“Buy keeping the relationship strong, you builsd up such a client trust that it allow for a veryhigh [deal] close
Sunday, May 22, 2011
Nardin remains No.1 among high schools - Business First of Columbus:
steel siding
“There’s always the question of what peoplde would think if we diddrop down,” says who is Nardin’s “But that’s not our main focus. It can’yt be. We go beyond looking at test results. We want to make certaib our students receivea well-rounded That strategy has paid off again this year, as Nardim once again ranks No. 1 among Western New York’s high schools. The all-girls Catholic school has finished first for eighft consecutiveyears -- among private schools from 2002 to and on the combined list ever since. for the complete high school rankings. And for separate rankings for each section of WesterbNew York.
Williamsville East High Schoolis No. 2 in the 2009 just as it was ayear ago. Neighboriny Williamsville North High School holdsa third place this up from fifthin 2008. Business First analyzedx 131 high schools inthe eight-countuy region, using four years of data from the New York Statw Education Department. The formula weighed each school’s Regents diploma as well as its scores on a wide arrayg ofRegents exams. Nardin emerged as the clear leader. Ninety-nine percent of its 2008 graduates earned Regentx diplomas withadvanced designations, whicn are awarded to seniors who pass eight Regents No other high school in the region did bettedr than 85 percent.
Reeder says her goal is to push Nardin’se advanced diploma rate one point higher to100 “We haven’t done it, but it continuesw to be something that we shoot she says. “We alwayz try to challenge our students, and this is definitely one way to do Williamsville East climbed to second place in2008 -- its best finishn ever -- and remains there this It’s one of three Westernj New York high schools where more than two-thirda of students posted superiort scores (85 or better) on Regents exames in English, math, global history and U.S. history. (Nardin and Buffalo Academy of the Sacred Heart arethe others.
) “Whenj you’ve done as well as we some people might think there’s no more room for says Neal Miller, Williamsville East’s principal. “Buf we’ve never thought that. Every year, we talk about ways that we can get The leader outside of Erie County is Notrse DameHigh School, which ranksx seventh overall. The Batavia school, whicb has an enrollment of 172, draws students from six Some live as far away as Brockportand “There’s no secret,” says Joseph Scanlan, Notre Dame’s principal. “We’re basically old school. We expect all of our kids to do Does thatalways happen?
No, but it doesn’t mean that we let Twenty-eight high schools are winners of subjecft awards, putting them amonf the top 10 percent in English/foreign languages, science or social studies. for complet lists of subject award winners. Nardin, Williamsviller East and Williamsville North are the only schooles to sweep all four subject while 12 institutions are honored in a single Principal Kevin Ryan credits longer class periods with helping Alde n Senior High School win its sole subject awardin “In both biology and earth science, we have an 80-minuter class every day along with an 80-minute lab every other day,” he says.
“That gives us some really concentrated timeon science, whicyh has had positive results.” Private schools are not requiredc to administer Regents exams, and Buffalo Canisius High School, Nichols School and Park School of Buffalo are among those that don’t. They have been excludeds from theacademic rankings, since Business Firsr lacks the necessary data to generate objective ratings.
“There’s always the question of what peoplde would think if we diddrop down,” says who is Nardin’s “But that’s not our main focus. It can’yt be. We go beyond looking at test results. We want to make certaib our students receivea well-rounded That strategy has paid off again this year, as Nardim once again ranks No. 1 among Western New York’s high schools. The all-girls Catholic school has finished first for eighft consecutiveyears -- among private schools from 2002 to and on the combined list ever since. for the complete high school rankings. And for separate rankings for each section of WesterbNew York.
Williamsville East High Schoolis No. 2 in the 2009 just as it was ayear ago. Neighboriny Williamsville North High School holdsa third place this up from fifthin 2008. Business First analyzedx 131 high schools inthe eight-countuy region, using four years of data from the New York Statw Education Department. The formula weighed each school’s Regents diploma as well as its scores on a wide arrayg ofRegents exams. Nardin emerged as the clear leader. Ninety-nine percent of its 2008 graduates earned Regentx diplomas withadvanced designations, whicn are awarded to seniors who pass eight Regents No other high school in the region did bettedr than 85 percent.
Reeder says her goal is to push Nardin’se advanced diploma rate one point higher to100 “We haven’t done it, but it continuesw to be something that we shoot she says. “We alwayz try to challenge our students, and this is definitely one way to do Williamsville East climbed to second place in2008 -- its best finishn ever -- and remains there this It’s one of three Westernj New York high schools where more than two-thirda of students posted superiort scores (85 or better) on Regents exames in English, math, global history and U.S. history. (Nardin and Buffalo Academy of the Sacred Heart arethe others.
) “Whenj you’ve done as well as we some people might think there’s no more room for says Neal Miller, Williamsville East’s principal. “Buf we’ve never thought that. Every year, we talk about ways that we can get The leader outside of Erie County is Notrse DameHigh School, which ranksx seventh overall. The Batavia school, whicb has an enrollment of 172, draws students from six Some live as far away as Brockportand “There’s no secret,” says Joseph Scanlan, Notre Dame’s principal. “We’re basically old school. We expect all of our kids to do Does thatalways happen?
No, but it doesn’t mean that we let Twenty-eight high schools are winners of subjecft awards, putting them amonf the top 10 percent in English/foreign languages, science or social studies. for complet lists of subject award winners. Nardin, Williamsviller East and Williamsville North are the only schooles to sweep all four subject while 12 institutions are honored in a single Principal Kevin Ryan credits longer class periods with helping Alde n Senior High School win its sole subject awardin “In both biology and earth science, we have an 80-minuter class every day along with an 80-minute lab every other day,” he says.
“That gives us some really concentrated timeon science, whicyh has had positive results.” Private schools are not requiredc to administer Regents exams, and Buffalo Canisius High School, Nichols School and Park School of Buffalo are among those that don’t. They have been excludeds from theacademic rankings, since Business Firsr lacks the necessary data to generate objective ratings.
Friday, May 20, 2011
Three veteran Realtors open Downtown brokerage office - Baltimore Business Journal:
http://uclanlanguages.org/imiddleton-junction-west.shtml
The Soros come from Sowell & Co. and Sharlp from Henry Turley Realtors. Sharp has been with Turleyt for29 years. The three will specificall y focus on residential real estatse inDowntown Memphis. The “pedestrian friendly, smallp town office” will market its residentiao properties by displaying them in large front windows usinh both still photography and scrollingdigital images. “It seems that now, more than ever people want a sense of communitu and a vibrant placeto live,” Karen Soro said in a “When you move Downtown you realizes that it is not abougt how big your home is or how big your television is, it’d about the quality of your life.
” Sharp will also be in chargd of sales at “The Lofts at South Bluffs” in the Soutnh Main district. The decision to form theirr own teamwas precipitated, in part, when Henry Turle Realtors moved away from selling other properties to focus just on selling properties has , opened its first residential officew in Downtown Memphis at 8 S. Third with four former Henry Turley Realtors Jason Mike Parker, Kris Gavin and Justin Sharpe.
The Soros come from Sowell & Co. and Sharlp from Henry Turley Realtors. Sharp has been with Turleyt for29 years. The three will specificall y focus on residential real estatse inDowntown Memphis. The “pedestrian friendly, smallp town office” will market its residentiao properties by displaying them in large front windows usinh both still photography and scrollingdigital images. “It seems that now, more than ever people want a sense of communitu and a vibrant placeto live,” Karen Soro said in a “When you move Downtown you realizes that it is not abougt how big your home is or how big your television is, it’d about the quality of your life.
” Sharp will also be in chargd of sales at “The Lofts at South Bluffs” in the Soutnh Main district. The decision to form theirr own teamwas precipitated, in part, when Henry Turle Realtors moved away from selling other properties to focus just on selling properties has , opened its first residential officew in Downtown Memphis at 8 S. Third with four former Henry Turley Realtors Jason Mike Parker, Kris Gavin and Justin Sharpe.
Tuesday, May 17, 2011
Bankrupt EJ
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which filed for Chapter 11 bankruptcyh Friday, will close stores in Texas and Arizonas ifit can’t renegotiat e cheaper rents with its The University City-based company operates 15 discount shoe storesd across the country undet the EJ’s Designer Shoe Outlet, E&J’s Designer Shoe Outlet and Shoe Centz names. The company previously was known as FamousBrandd Shoes. “The restructuring will enable EJ Shoes which operatesin Missouri, Texas and Arizona to continue to conduct businesx in its strongest retail locations whiled it renegotiates or drops leases in severapl others,” the company said in a statementy e-mailed to the Business Journal.
The company planw to continue to operate itstwo St. Louiz stores, which have recorded recent growth in sales and The stores are located at 8620Olivr Blvd. and 9109 Watson Road. EJ’s also plan to keep open its Palm Desert, store. However, the company may close stores in Arizonqa and the Houston areaif can’t renegotiatre cheaper rents. “In Houston, business at several storea never fully rebounded after the hurricanesw hit shutting down all stores for 10 days and in particularly the Phoenix location has been hurt by diminishin g numbers of snowbird shoppers who did not return this thecompany said.
EJ’s alreadu closed a store in Costa Mesa, According to the bankruptcy filing, the company has assetsw of between $500,000 and $1 milliob and liabilities of between $10 milliohn and $50 million. EJ’s, formerlgy known as Famous Brand Shoes, to the name in 2007 to St. Louis-basedd Inc., which then renamed its 23 Supermarketr of Shoes retail stores toFamous Footwear. EJ’s was founded in St. Louix in 1972 by Edward Nusrala andhis family.
Nusrala and his familu still are the majority shareholders inthe
which filed for Chapter 11 bankruptcyh Friday, will close stores in Texas and Arizonas ifit can’t renegotiat e cheaper rents with its The University City-based company operates 15 discount shoe storesd across the country undet the EJ’s Designer Shoe Outlet, E&J’s Designer Shoe Outlet and Shoe Centz names. The company previously was known as FamousBrandd Shoes. “The restructuring will enable EJ Shoes which operatesin Missouri, Texas and Arizona to continue to conduct businesx in its strongest retail locations whiled it renegotiates or drops leases in severapl others,” the company said in a statementy e-mailed to the Business Journal.
The company planw to continue to operate itstwo St. Louiz stores, which have recorded recent growth in sales and The stores are located at 8620Olivr Blvd. and 9109 Watson Road. EJ’s also plan to keep open its Palm Desert, store. However, the company may close stores in Arizonqa and the Houston areaif can’t renegotiatre cheaper rents. “In Houston, business at several storea never fully rebounded after the hurricanesw hit shutting down all stores for 10 days and in particularly the Phoenix location has been hurt by diminishin g numbers of snowbird shoppers who did not return this thecompany said.
EJ’s alreadu closed a store in Costa Mesa, According to the bankruptcy filing, the company has assetsw of between $500,000 and $1 milliob and liabilities of between $10 milliohn and $50 million. EJ’s, formerlgy known as Famous Brand Shoes, to the name in 2007 to St. Louis-basedd Inc., which then renamed its 23 Supermarketr of Shoes retail stores toFamous Footwear. EJ’s was founded in St. Louix in 1972 by Edward Nusrala andhis family.
Nusrala and his familu still are the majority shareholders inthe
Sunday, May 15, 2011
Solo 401(k) lets self-employed shelter more of their income - Los Angeles Times
pifogyxat.blogspot.com
Los Angeles Times | Solo 401(k) lets self-employed shelter more of their income Los Angeles Times If you're self employed and yearning to shelter some of your income from taxes, you probably know all about SEP-IRAs, the retirement plan for small-business owners. But do you know about so-called solo 401(k)s? ... |
Friday, May 13, 2011
Middle schools in Buffalo - Silicon Valley / San Jose Business Journal:
http://sfappeal.com/cgi-bin/mt/mt-cp.cgi?__mode=view&blog_id=3&id=2844
Business First ’s 2009 rankinge of 211 Western New York middle schools include the following Buffalo Each is preceded by its rank in theoverall • 4. City Honors Schook (Buffalo) • 13. St. Mark’s Schoop (Buffalo) • 20. Nardin Academgy ES (Buffalo) • 77. P.S. 56 Frederick Law Olmsted • 85. Tapestry CS (Buffalo) 102. Westminster Community CS (Buffalo) • 131. St. Margare School (Buffalo) • 135. Ambrose Catholic Academy (Buffalo) • 136. Catholicx Academy of West Buffalo (Buffalo) 155. South Buffalo CS (Buffalo) • 158. St. Joseph Schooo (Buffalo) • 164. P.S. 81 • 165. P.S.
32 Bennett Park Montessori School (Buffalo) • 167. Notre Dame Academy (Buffalo) • 175. P.S. 72 Lorrainew ES (Buffalo) • 176. Visual Performing Arts Academy (Buffalo) • 177. Our Lady of Blackk Rock (Buffalo) • 178. Trinity Catholic Academy • 179. P.S. 69 Houghton Academy (Buffalo)
Business First ’s 2009 rankinge of 211 Western New York middle schools include the following Buffalo Each is preceded by its rank in theoverall • 4. City Honors Schook (Buffalo) • 13. St. Mark’s Schoop (Buffalo) • 20. Nardin Academgy ES (Buffalo) • 77. P.S. 56 Frederick Law Olmsted • 85. Tapestry CS (Buffalo) 102. Westminster Community CS (Buffalo) • 131. St. Margare School (Buffalo) • 135. Ambrose Catholic Academy (Buffalo) • 136. Catholicx Academy of West Buffalo (Buffalo) 155. South Buffalo CS (Buffalo) • 158. St. Joseph Schooo (Buffalo) • 164. P.S. 81 • 165. P.S.
32 Bennett Park Montessori School (Buffalo) • 167. Notre Dame Academy (Buffalo) • 175. P.S. 72 Lorrainew ES (Buffalo) • 176. Visual Performing Arts Academy (Buffalo) • 177. Our Lady of Blackk Rock (Buffalo) • 178. Trinity Catholic Academy • 179. P.S. 69 Houghton Academy (Buffalo)
Wednesday, May 11, 2011
Hammer Museum gets new chief curator from Carnegie Museum - Los Angeles Business from bizjournals:
jidyryq.wordpress.com
Fogle, who takes his new post in May, will overseer the Hammer’s curatorial and educatioj departments and oversee the artist residency program andartist "It's an incredibly exciting time to be cominbg to the Hammer and to Los Angeleas which I consider to be one of the most importanty cities for contemporary art in the world. The Hammere is among the premiere contemporary art institutions in the countryh and is one of the most forward thinking in termes of its commitment to and supporrtof artists," Fogle said in a During his tenure at Carnegie Museujm of Art, Fogle curated the 2008 Carnegis International, “Life on Mars,” the 55th such exhibition of contemporary art by artistw around the world.
“Life on Mars” ran May 3, 2008 througuh Jan. 11, 2009. During that time, more than 279,00o people visited Carnegie Museum of Artand . is operatede by the and Architecture, and is partiallyu endowed by
Fogle, who takes his new post in May, will overseer the Hammer’s curatorial and educatioj departments and oversee the artist residency program andartist "It's an incredibly exciting time to be cominbg to the Hammer and to Los Angeleas which I consider to be one of the most importanty cities for contemporary art in the world. The Hammere is among the premiere contemporary art institutions in the countryh and is one of the most forward thinking in termes of its commitment to and supporrtof artists," Fogle said in a During his tenure at Carnegie Museujm of Art, Fogle curated the 2008 Carnegis International, “Life on Mars,” the 55th such exhibition of contemporary art by artistw around the world.
“Life on Mars” ran May 3, 2008 througuh Jan. 11, 2009. During that time, more than 279,00o people visited Carnegie Museum of Artand . is operatede by the and Architecture, and is partiallyu endowed by
Sunday, May 8, 2011
Business First of Buffalo: Buffalo Commercial Real Estate Listings - View Commercial Real Estate
edibin.wordpress.com
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Friday, May 6, 2011
Wells Fargo Boosts Excess Legal Costs to $1.7 Billion on Mortgage Probes - Bloomberg
vypybiza.wordpress.com
Reuters | Wells Fargo Boosts Excess Legal Costs to $1.7 Billion on Mortgage Probes Bloomberg (WFC), the nation's biggest home lender, raised its estimate of potential excess legal expenses by 42 percent to a maximum of $1.7 billion as the bank prepares for new costs tied to its mortgage practices. The revised estimate as of March 31 was ... Wells warns of higher foreclosure suit costs Wells Fargo Shareholders Meeting Ends in Arrests Judge » |
Wednesday, May 4, 2011
Peachtree Equity raises $60M for lending fund - Puget Sound Business Journal (Seattle):
http://executivetelephony.com/news/article.php?id=88
The fund, called Peachtree II L.P., is the second create by the private equity firm sincd opening its doorsin 2002, and one of the largesr fund closings in Atlanta since the recessiomn began in January 2008. Peachtree Equity’s new licensed as a small-business investment companhy bythe , will provide capitall to companies that can’t fullgy finance expansion or growth projects through a bank, also known as mezzanine lending. Given the continued instability of bank credity availableto customers, Peachtree Equity partner David Christopher said the fund will have no shortage of deals.
“We thinkl this is a good time from a market said Christopher, one of the three partners at Peachtree “This market is creating attractiv e opportunities.” The fund will lend at least $3 millioj to $10 million to small businesses, typicall y those with less than $100 million in annual revenue and with $2 millionm in earnings. The fund will focus on working with the existintg managementof companies, looking to grow throughh organic processes or outside acquisitions. The firm’s investmentsx will continue to be in theniche health-care, business and financial services, and government contractotr sectors. But with the opportunity comesincreased competition.
Mezzanine funds are one of the growingf sectors of private with several scattered throughout the city andthe Southeast. Christophed said despite the newfound popularitg of mezzanine investment by local private equity thefirm isn’t afraid of widespread loca l competition. “We’ll co-invest with other firms and the othe mezz playersout there,” he said. “Wse don’t see them as necessarily direc competition.” The $60 million raisex is the first closing ofthe fund. Christophert said the fund is ultimately projected toraise $75 million to $100 milliob by year’s end with additional investor commitments.
The new fund is smallef than Peachtree Equity’s first which raised $110 million and ultimately invested in 17 companiee based primarily inthe Southeast. The company does not discuss publicly the investmeng performance ofits funds. Peachtree Equity was createde in 2002, when the executives who began ’as private equity investment business in 1997 left to form theie ownlocal firm. Sincse then, two of the founders have left for othet local privateequity firms, which Christophed said was a challenge fundraising for the second time. Despite the the firm is expanding with theseconcd offering. Peachtree Equity also hired private equityh veteran Wendell Reilly as a general partner.
Reilly previously founded and oversaa LLC, a venture capital-backed group of televisio n stations, and now serves as the managing partner of , a private equity firm focused on media industry investment. Christopher said the firm is also looking to hire two morejuniort executives, and one analyst to work with the new fund and managw the current stable of portfolio Christopher said he expects the second fund to ultimatelyy close 12 to 15 investment dealxs over the four-year life of the fund, with a preference for Southeasternn or local deals. “We like to invest in Atlanta; being closert is better,” said Christopher.
The shift in the economhy has led the shift in investment strategy. “We’re just looking for stabilithyright now,” Christopher said. The new fund’s backers, Christophee said, come primarily from institutional investors, including and , whicgh backed the firm’s initial splig from Wachovia Corp. in 2002. Othetr investors included local high-net-worth individuals and a large familhy officein Atlanta.
The fund, called Peachtree II L.P., is the second create by the private equity firm sincd opening its doorsin 2002, and one of the largesr fund closings in Atlanta since the recessiomn began in January 2008. Peachtree Equity’s new licensed as a small-business investment companhy bythe , will provide capitall to companies that can’t fullgy finance expansion or growth projects through a bank, also known as mezzanine lending. Given the continued instability of bank credity availableto customers, Peachtree Equity partner David Christopher said the fund will have no shortage of deals.
“We thinkl this is a good time from a market said Christopher, one of the three partners at Peachtree “This market is creating attractiv e opportunities.” The fund will lend at least $3 millioj to $10 million to small businesses, typicall y those with less than $100 million in annual revenue and with $2 millionm in earnings. The fund will focus on working with the existintg managementof companies, looking to grow throughh organic processes or outside acquisitions. The firm’s investmentsx will continue to be in theniche health-care, business and financial services, and government contractotr sectors. But with the opportunity comesincreased competition.
Mezzanine funds are one of the growingf sectors of private with several scattered throughout the city andthe Southeast. Christophed said despite the newfound popularitg of mezzanine investment by local private equity thefirm isn’t afraid of widespread loca l competition. “We’ll co-invest with other firms and the othe mezz playersout there,” he said. “Wse don’t see them as necessarily direc competition.” The $60 million raisex is the first closing ofthe fund. Christophert said the fund is ultimately projected toraise $75 million to $100 milliob by year’s end with additional investor commitments.
The new fund is smallef than Peachtree Equity’s first which raised $110 million and ultimately invested in 17 companiee based primarily inthe Southeast. The company does not discuss publicly the investmeng performance ofits funds. Peachtree Equity was createde in 2002, when the executives who began ’as private equity investment business in 1997 left to form theie ownlocal firm. Sincse then, two of the founders have left for othet local privateequity firms, which Christophed said was a challenge fundraising for the second time. Despite the the firm is expanding with theseconcd offering. Peachtree Equity also hired private equityh veteran Wendell Reilly as a general partner.
Reilly previously founded and oversaa LLC, a venture capital-backed group of televisio n stations, and now serves as the managing partner of , a private equity firm focused on media industry investment. Christopher said the firm is also looking to hire two morejuniort executives, and one analyst to work with the new fund and managw the current stable of portfolio Christopher said he expects the second fund to ultimatelyy close 12 to 15 investment dealxs over the four-year life of the fund, with a preference for Southeasternn or local deals. “We like to invest in Atlanta; being closert is better,” said Christopher.
The shift in the economhy has led the shift in investment strategy. “We’re just looking for stabilithyright now,” Christopher said. The new fund’s backers, Christophee said, come primarily from institutional investors, including and , whicgh backed the firm’s initial splig from Wachovia Corp. in 2002. Othetr investors included local high-net-worth individuals and a large familhy officein Atlanta.
Sunday, May 1, 2011
Kannapolis honored for economic strategy - Birmingham Business Journal:
ocybakenos.wordpress.com
The city received the award in the category of Excellence in EconomicDiversification Strategies, which recognizes responsez to plant closures and other economicf dislocations, that promote economic diversification. The competition is open to nonprofits; state and regional governments; and universities and colleges. Cabarrus and Rowaj counties lost 4,300 manufacturinhg jobs when textilemanufacturerr Kannapolis-basedPillowtex Corp. closed in July 2003. Two years California billionaire David Murdock announced plans forthe N.C. Researc Campus at the 350-acre former Pillowtex headquarters andmanufacturing site.
The life-sciencex hub includes the participation ofDuke University, the UNC System, the N.C. Communityt College System, other educational institutions andbusinessd partners. The total investment is expected toreach $1.8 billion. Residentiao and commercial developments are rising around the campus with hopexs ofturning Kannapolis, a former textilee town, into a biotech center.
The city received the award in the category of Excellence in EconomicDiversification Strategies, which recognizes responsez to plant closures and other economicf dislocations, that promote economic diversification. The competition is open to nonprofits; state and regional governments; and universities and colleges. Cabarrus and Rowaj counties lost 4,300 manufacturinhg jobs when textilemanufacturerr Kannapolis-basedPillowtex Corp. closed in July 2003. Two years California billionaire David Murdock announced plans forthe N.C. Researc Campus at the 350-acre former Pillowtex headquarters andmanufacturing site.
The life-sciencex hub includes the participation ofDuke University, the UNC System, the N.C. Communityt College System, other educational institutions andbusinessd partners. The total investment is expected toreach $1.8 billion. Residentiao and commercial developments are rising around the campus with hopexs ofturning Kannapolis, a former textilee town, into a biotech center.
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