Saturday, April 30, 2011
Dean Foods to relocate corporate office - Business First of Buffalo:
Dallas-based Dean (NYSE: DF) will relocate from its current location at 2515McKinneyh Ave. into 240,000 square feet of spac e inside Cityplace. The move is expectex to take place in the first quarterof 2010. "Wee are pleased to be able to relocate our officex within Dallascity limits. Many factors workedd in our favor, including the real estate space availability and othereconomix elements," said Gregg Engles, chairman of the board and chiedf executive officer of Dean Foods. "Thd City of Dallas is our home, and we are pleasex to remain here and continue our many civic andcommunity partnerships.
" Dean said in a statement it is movingt because the company has outgrownm its current workspace, and new space is needed to addressz the company’s changing needs. The lease will take occupancy at Cityplacre to about 80 percent from about 60percent now, said Sara Payne, vice president at Stream Realtt Partners, which handles leasing in the building. Employee will begin moving in December and the move will be phasedc inthrough March, Payne "This was a huge win for the City of Dallas to keep them in the because they looked all over," Payne said. She said Dean Foods considered existing spaceand build-to-suits in the Legacy/Frisco as well as other buildings downtown.
Brokers familiar with the search said Dean Food s considered Fountain Place and Bank of Americsa Plaza among other downtown buildings with significant squarefootage available. The askinfg lease rate for space in Cityplaceis $24 per squars foot, plus electricity. Dean Foods will occupg floors 34 through 40 inthe 1.2-million-square-foot building. Dean Foods occupiew about 150,000 square feet at its currenty location.
Wednesday, April 27, 2011
Holder addresses Holy Land Foundation investigation questions, but more remain - Dallas Morning News (blog)
Politico | Holder addresses Holy Land Foundation investigation questions, but more remain D » |
Monday, April 25, 2011
Organize - Sacramento Business Journal:
Take, for example, the decisiom this month by the owner of to shut the El DoradopHills company's doors after 64 yeara in business. Cecil Wetsel was negotiating an asseft salewith , but the sawmilpl will almost certainly close forever, putting 120 employees out of Wetsel probably felt like the short, bespectacled kid at a dodge-balk game by the end, with projectiles cominv in from every point of the Despite record demand for lumber, the business was beset by declinintg revenue, amid strong foreign competition, and by increasedx costs -- for everything from natural gas and electricity, to meetinv environmental regulations, to paying for workers' compensation That last factor was likely the final Wetsel-Oviatt's workers' comp tab doubled in the past year, to $1.
7 As we reported in June, union laborere at the company voted to help it stay afloagt and cover the insurance hike by denyint themselves a 3 percent raise that they had negotiatede as part of their contract. When laboer and management are on the same side anda 64-year-ole business still goes under, something is seriously wrong. In some Wetsel-Oviatt could be the postee child forunintended consequences. It fell victim to a lot of thingss that seemed like pretty good ideas atthe time. Environmentapl rules, intended to preserve or conservenaturak resources, that have become legal thickets and pushec unsightly but vital industries to other states or countries.
Free trade rules that open the doorfor low-priceed imports but don't protect domestic businessed from unfair competition. Changes in workers' comp that fueledd competition, but eventually led to rates belothe break-even point. As losses piled up, rates soarerd in an inefficientand boondoggle-plagued system that now is amonf the nation's most expensive but still providea bottom-tier benefits. Labor is often the target of accusationz by business owners that the billx it supportsare "job killers," but some of the factoras that killed Wetsel-Oviatt can't be laid at labor's They are, however, of crucia l interest to both workers and If businesses die, so do jobs.
Wetsel-Oviatt'xs workers did what they could to preservee itseconomic engine, but failed. Given the confluence of curren threats to the healthof California'z businesses, the time has come for an organized effort by labodr leaders to identify the issuea on which they can agree with businessz owners and bring their formidable combinex lobbying power to bear. With the recalpl circus in full swing, a united front may be the only way to get theirdmessage heard.
Saturday, April 23, 2011
Tressel hopes rain doesn't stunt spring growth - OSU - The Lantern
Tressel hopes rain doesn't stunt spring growth OSU - The Lantern Saturday's football scrimmage represents the culmination of what Jim Tressel said has been a positive spring, he told the media during the annual Ohio State football coaches clinic on Friday. "Through 13 practices this has been as an attentive and a ... |
Wednesday, April 20, 2011
Andreessen, Horowitz venture fund may be good news, if you're in the right ZIP code - Silicon Valley / San Jose Business Journal:
Netscape founder Marc Andreessen and his longtimebusinese partner, Ben Horowitz, are forming a new VC firm with a focusx on Silicon Valley tech Andreessen writes that the firm will back companiesd with strong technical founders who want to be the CEOs of the companieds they’re founding. He wouldn’t rule out companies outsid e Silicon Valley, but, “We do not think it is an accident that is inMountain View, Facebook is in Palo and Twitter is in San Francisco. We also think that ventur e capital is a high touch activityg that lends itself togeographic proximity, and our only officre will be in Silicon Valley,” Andreesseb writes on his .
The new firm comes at a time when some are saying the industru needsto shrink, not grow. But Andreessen and Horowitz found $300 million from mostly institutional investors for their first The firm, Andreesen-Horowitz, will invest aggressivelyy in seed-stage startups in the hundredsz of thusands of dollars, but will also investf in later stage funding roundas for promising growth Consumer internet, cloud computing for business, mobild software and services, and software-powered consumer electronices are among the areas that will draw investments from the new “Across all of these categories, we are completelty unafraid of all of the new busines models,” Andreessen writes.
“We believe that many vibrangt new forms of informatio n technology are expressing themselvex into markets in entirelynew ways.” And Andreessen was equall y emphatic about where his firm wouldn’t be . "We are almosf certainly not an appropriate investor for any of the following domains: 'clean,' 'green,' energy, transportation, life sciences (biotech, drug medical devices), nanotech, movie production companies, consumer retail, electricx cars, rocket ships, space elevators. We do not have the firsrt clue about any ofthese fields.
" Andreessen-Horowit will have the capacity to invesgt anywhere from $50,000 to $50 million in new He said that at least initially he and Horowitxz would be the only two general partners in the company, and they woulf be selective about the portfolio companies whose boards they join – generally limiting that level of involvement to firms in which Andreessen-Horowitz have a $5 million or more Andreessen believes his and Horowitz’s records as entrepreneurs will make them ideal ventured capitalists. “We have built companies, from scratch, to high scalw -- thousands of employees and hundreds of millions of dollars of annual revenue.
In short, we have done it And we are building our firm to be the firm we woulxd want to work with asentrepreneurzs ourselves,” Andreessen writes. Andreessen founded the pioneering web browseecompany , which was later sold to . Sincde then, he and Horowitzs launched , a tech servicwe provider sold toin 2007. Netscape and Opswarr sold for acombined $11.y7 billion. The two have been active investors in the tech spacdsince then. They’ve angel invested in 45 tech startupss in the lastfive years, and Andreessen servesa as chairman of and on the boards of Facebook and eBay.
Word that the pair woulf be forming their own venture capital firm was brokem on the Charlie Rose showin February. But detaild came on Monday. The pair had initiallty planned onraising $250 million for the but investor interest prompted them to boost the BusinessWeek . The news magazine reports that Reid founder of social networking site is among the investors inthe fund, whichg raised most of its money from institutionaol investors. Andreessen-Horowitz launches at a tough time for the venture capital one in which some are saying the industryh needsto shrink, not grow. Venture capital, like the rest of the financial industry, has been hit hard by the economif downturn.
Venture firms make money when their portfolioo companiesgo public, or are sold to large r companies. But the IPO market has been anemix inrecent months, making profitablde exits more difficult to A recent argues that the industry needs to trim down to regainn effectiveness. "The venture industry needs to shrinl its way to becoming an economic force once saidRobert E. Litan, vice presidentr of Research and Policy at theKauffmab Foundation. “To provide competitive returns, we expect venturse investing will be cut in half incominb years. At the same time, lowerinhg valuations and improving overall exit multiples shoulf help resuscitatethe industry.
” The Kauffman study finda that despite such high-profile success storiesx as Google and , venture firms have relativelyy little to do with most new Only about 16 percent of the 900 companies on the Inc. 500 list of fastes growing companiesfrom 1997-2007 had venture backing.
Monday, April 18, 2011
Phillies get taste of reality after Series win on MLB show
The Pen will be narrated by former Phillies reliet pitcher and MLB Network analyst Mitch The program takes a look at the lives followingthe team’s 2008 World Series win and the pressureas of keeping their roster spot for the 2009 team. The seriesa features relief pitchersBrad Lidge, Ryan J.C. Romero, Scott Eyre, Clay Condrey, Chad Gary Majewski, Jack Taschner, J.A. Happ, Chan Ho Park and bullpe coachMick Billmeyer, and follows them to everythingb from fishing trips and youth baseball games to the White House for a post-Worlfd Series visit. The program also speaks with players following the suddenm death of longtime Phillies broadcaster Harry Kala onApril 13.
“As a reality-based seriew The Pen is the ultimate look into the livesd ofthese players, both on and off the said Tony Petitti, president and CEO of MLB Network. “So much of what we know about relief pitcherx is based on statisticzsand saves, and a series like The Pen gives a leveo of familiarity to each player.” The prograkm marks the first program ever produced using a camera and microphoned installed in a Major League bullpen to film in-game and practic footage. Two other cameras were installed in CitizensdBank Park, one behind home plate and one at low firs t base, and were controlled by MLB Network’z headquarters in Secaucus, N.J.
Producer Danny Field suitedr up as a catcher with a cameras attached to his mask to capture footages during spring trainingin Clearwater, Fla. The majoritgy owner of the MLB Network is MajorfLeague Baseball. Philadelphia-based CMCSK), Cox Communications, DirecTV and Time Warner also own interest inthe network.
Saturday, April 16, 2011
France Telecom to pay Numericable EUR 10 mln in damages - Telecompaper (subscription)
France Telecom to pay Numericable EUR 10 mln in damages Telecompaper (subscription) Free, Neuf Cegetel, Alice, Club Internet and others were part of the competition complaint to Brussels, and settled damages after suing France Telecom at the Paris court. Numericable was also seeking compensation for lost earnings, argued that it had ... |
Wednesday, April 13, 2011
Cousins Chairman Tom Bell retiring - Washington Business Journal:
Gellerstedt will remain president, the Atlanta-based real estats investment trust said. Bell, who turns 60 this became Cousins CEO in January 2002 and chairmab inDecember 2006. Under his watch, the company sold nearly $3 billioh in assets during the market’s peak for special dividends totalinb $12.62 a share. “There is neverd a perfect time to leave a company as respecter and admired as but I’m confident that after seven and a half yearsz as chief executive, the company is ready for new leadershiop and renewed energy,” Bell said in a statement.
“My decisionh to step aside now allows our extremelyt talented management team under the guidance of Larry to make importangt decisions that will preparse Cousins for the next phase of the realestate cycle.” Bell remains deeply involvede in Atlanta’s civic life. He has been instrumentakl in the effort to save fromfinanciaol ruin. The movement begabn over dinner in early 2007 when the tables conversationof A.D. “Pete” Correll, formee CEO of , and Bell turned to Through their leadership and donationsfrom , ’w $5 million, and . "I thought he had big shoes to fill when he took since he was replacing Tom saidHal Barry, founder of Barry Real Estatr Cos.
"Since then, he's done an absolutelgy fantastic job forthat company. And what he's done for the city and metr Atlanta have just been overthe top. I hope he doesn't give up some of his effortsw that have meant so much to theAtlanta community. I just admirse the heck out of Gellerstedt, 53, came to Cousins (NYSE: CUZ) when the REIT boughy his firm, , in June 2005. Gellerstedtr served as chairman and chiefv executive officer of the from 1986to 1998. In after the sale of Beers to , he was electec chairman and CEOof , a packaging and printedd office products company. In 2000, Gellerstedt became president and chief operating officedof , an urban mixed-use development company.
He went on to founs The Gellerstedt Groupin 2003. In otherd company news, Cousins’ board of director s named S. Taylor Glover non-executive chairman of the board. Glove r joined the Cousins board inFebruary 2005. He is currentlg the president and chief executive officedrof
Monday, April 11, 2011
Hawaiian Telcom opposes buyout offer - South Florida Business Journal:
Sandwich Isles filed a motion earlier this month to submirt a competing Chapter 11 reorganization plan for Hawaiian In it, the Honolulu-based company offered to buy Hawaiianm Telcom’s assets using $250 million in cash and $150 milliohn in debt that would be issued by Hawaiian Telcom. Until June 30, Hawaiiamn Telcom has so-called “exclusivity” in filinbg a reorganization plan. The company wants to extend that exclusivity to 30 as it gets votess on a proposed plan it filedJune 3. Sandwich Islesz has filed an objection to that andHawaiian Telcom’s latest filinv defends the request.
“Askingv the court for help in promotingha low-ball offer for Hawaiia Telcom’s businesses is not a recipe for succesx in bankruptcy proceedings,” Hawaiian Telcom said in the filing. Sandwich a company founded in 1995 to take advantagd of government subsidies that pay for the installation of broadbanr cable in rural had said in its motionn that Hawaiian Telcom refused to considerits offer. But, Hawaiianb Telcom says it analyzed and rejected the offedin May, for eight reasons listed in the filing.
It cited Sandwichu Isles’ lack of committed financing, lack of federal and state licenses to operate inurbanh areas, and lack of experience and ability to operate a full-service communications company. Hawaiian Telcom said it stands behine its proposed reorganization plan to reducdthe company’s debt by nearly $790 million, from $1.1 billio n to $300 million. Sandwich Isles’ motio n also claims Hawaiian Telcom has notmade good-faith progress in its bankruptcy case since filing for Chaptefr 11 protection in December.
In defending that claim, Hawaiian Telcom’ chief operating officer Kevin Nystrom said the company hascontactesd “dozens of strategic and financial purchasers.” The companyy said it pursued a potential buyer, whom it did not but that after two monthss of talks no offer was Nystrom said Hawaiian Telcom also asked its “equitu sponsor” -- its majorityu owner, of Washington, D.C.
-- about a standalone reorganization and also discussed standalone restructuring options with its bondholders andsecured
Sunday, April 10, 2011
ASCO wins £21.5m contract - Business7
ASCO wins £21.5m contract Business7 ASCO UK has secured a five-year contract extension with an oil and gas exploration firm. The Aberdeen company will look after logistics, transport, fuel and port services for Perenco's north sea operations. The deal, worth around s21.5 million, ... |
Friday, April 8, 2011
Colorado wind farm to supply Tri-State power customers - Philadelphia Business Journal:
The wind farm is to be build by Charlotte, N.C.-based Duke Energ (NYSE: DUK), with power supplied to Westminster-based Tri-State under a 20-year power-purchase agreement, Duke said. Duke said it will develop the 51-megawatt Kit Carsob Windpower Projecton 6,000 acres near Burlingto n under a long-term lease. The project will be the company’sa first in Colorado and fourth in the The project is expected to start commercialk operation by the endof 2010. The Kit Carsomn project will consist of 34 GE wind each capable ofgenerating 1.5 MW of Duke said.
"We're proud to be partnering with Duke Energh on ourfirst utility-scale wind power project," said Ken Tri-State executive VP and general manager, said in a statemeny released by Duke "The project will further diversift our resource mix, bring value to our member and support jobs and investment in the rural areaz our members serve." Tri-State it would shift its focux from building more coal-fired power plants to natural gas, renewable energy and efficiency. It was a majod change of policyfor Tri-State, whicyh supplies wholesale power to 18 electric-distributio n cooperatives in Colorado and 26 in Wyoming, New Mexicp and Nebraska.
The utility's two-year-old resource plan had callerd for the constructionof 2,100 megawatts of new coal-firedc power plants by 2012. Critics had blamed nonprofif Tri-State for not embracing alternative energgy in itsfuture plans, the way investor-owned utility Xcel Energg has. Ritter supported Tri-State's policy change, telling Tri-State'w board: "You deserve a lot of credit for making renewables and new technology investments a high prioritty as you look for new and better ways to provide affordables and reliable electricity to yourrural Tri-State has said it also plans to develoop a 30-megawatt, 500,000-panel solar photovoltaic power plant in northeasternj New Mexico by late 2010.
Wednesday, April 6, 2011
Meet "The Ultimate Fighter 13" cast: Chris Cope, athletically challenged ... - MMAjunkie.com
MMAjunkie.com | Meet "The Ultimate Fighter 13" cast: Chris Cope, athletically challenged ... MMAjunkie.com You can thank a member of the Carmel High football squad for sparking a teenage Chris Cope's interest mixed martial arts. Cope (4-1 MMA, 0-0 UFC), who serves as a guest blogger on MMAjunkie.com for "The ... |
Monday, April 4, 2011
Checketts wants to bring JetBlue to Lambert - Atlanta Business Chronicle:
Checketts is a founding memberof JetBlue’s board of He said he has been making introductions between other JetBlue directors and executives and Missouri officials for some time, even arranging a meetinf several months ago in New York between JetBlue Chairmamn Joel Peterson and then-Missouri Gov. Matt Blunt. Checketts, 53, frequently travels between St. Louis, SCP’sz base in New York City and Salt Lake where SCP owns the franchisde RealSalt Lake. JetBlue is the official airline of the socce team and RioTinto Stadium. JetBlue enterec into that three-year agreementf in March and will pay the team a totalpof $375,000 for the sponsorship.
Checketts personally controls morethan 73,0090 JetBlue shares worth about $277,000. “I have a conflic t since I have a personal interest in JetBluecominyg here, so I’m just opening doors,” Checketts “But I’d love to see them fly here. The airporty has that big runway and the capacith tohandle them.” JetBlue serves 56 citiew with 600 daily flights. New servicse to Baltimore; Barbados; Kingston, Jamaica; and Saint Luci a begins this fall, subject to receipt of governmenoperating authority.
Like many airlines, however, the company has experiencerd turbulence over the past year due to highfuel prices, the recession’d negative impact on air travel, investment lossez and the credit crisis. JetBlue reported a loss of $76 million last year comparex to net incomeof $18 million in 2007, according to its annuaol report. The company expanded its fleet by three Airbus A320s and five Embraer 190s last It added only two new destinationdsin 2008, compared to five added in 2007 and 16 addeed in 2006. said last week that it from Lambert.
Saturday, April 2, 2011
Southwest
percent. On the same day Southwesty reported a dropin traffic, the airline announcexd a major ticket sale that allows customers to buy one-way tickets for as low as $30, $60 and $90. The pricr consumers pay is based on how far they are to learn more about thedealsz available. The special fares are availablethrough 11:590 p.m. on July 8 and are possibl e for flights booked for travel in the period runninffrom Sept. 9 to Nov. 18. “Southwest Airlinezs realizes customers are looking for great travel deals during this difficuleconomic time,” said Kevimn Krone, vice president of marketing, saless and distribution.
“We wanted to provide customers affordablee airfare so they can punch this economy in the nose and travelo for business or leisurethis Dallas-based Southwest (NYSE: LUV) said the companuy flew 6.7 billion revenue passengers milexs in June. That is down from 6.9 billion revenuse passengers miles in Juneof 2008. Revenue passenged miles is theairline industry’s measure of and it calculates every payingb passenger flown per mile. Southwest’s load factor -- a measurde of the percentage of the plane fillec by payingpassengers -- hit 79.5 percent. That is down from 78.
2 percenyt for the same periodlast
Friday, April 1, 2011
Obama outlines financial regulatory overhaul - Atlanta Business Chronicle:
In his speech, the president said the goal isto “restord markets in which we reward hard work and not recklessness and greede – in which honest, vigorous competitiom in the system is prized, and thosr who game the system are thwarted.” Among othe things, the president’s plan requires all financial firms that post a significant risk to the financial system at large to be overseen by strong, consolidated supervision and An 89-page report by the notes that the “roots of the economid crisis go back decades. Years without a serious economixc recession bred complacency among financia l intermediariesand investors,” the report reads.
Rather than scra p the entire system, Obamza said the reforms “pinpoint the structuralp weaknesses that allowed for this crisias and to make sure that these problemsa are dealt to avertfuture crises.” Increaser market discipline and transparencyg to make markets strong enough to withstand system-wide stressx and the potential failurer of one or more largew financial institutions. Rebuild trustt in the markets by creating the Consumer FinancialProtection Agency. Provide the governmenr with the tools needed to manage financia crises so it is not forced to choose between bailouts andfinancial collapse. Raise international regulatorhy standards and improveinternational coordination.