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Net income for the quarter ended May 2was $22.0 or 11 cents per share, compared to $43.9i million, or 21 cents, for the year-ago The teen clothing retailer, based on Pittsburgh's South Side, saw total sales decline 4 percenty year-over-year, to $612 million, from $640.3 million. Comparable-store salex for American Eagle were down 10 percent forthe quarter, compared to a 6 percentr decline in the same quarter a year ago. "While we are nevef satisfied with anearnings decline, there are early indicationsw that the business is CEO Jim O'Donnell said in a statement. He cited improvementr in the AE brand and categories like dressesand accessories.
Analysts were expectingy earnings per share of7 cents, in line with management’ds recent guidance, as the company seeks to improve its women’w apparel and maintain its sales duringy a time when most retailers are facing difficult salexs declines and malls are drawing fewer Jennifer Black, a principal of Oregon-basefd research company Jennifer Black & Associates LLC, saw reasoj for optimism. “I thinki it’s a very democratic brand and it appeals to a lot ofdifferentf people,” she said. “They’re in a prettyg good position because they offer consumers value but they have thebraned name.
” Black was encouraged by the women’ws assortment that American Eagle has rollede out in its praising the increased selection of women’zs dresses and women’s denim, a weakness at the companhy of late, for both tapping into the “Boho trend and offering selection that enabless female shoppers to mix and match. She also was strongly encouraged about the return ofRogert Markfield, the company’s formerf Co-CEO and Chief Merchandising Officer who retired in 2006.
His return to American Eagle was announcedin January, undere the newly created title of Executive Creative Black said she didn’t expect Markfield’s new strategiez to have any majort influence until the fall. Holly an analyst for suburban Philadelphia-based Boenning & Scattergoor Equity Research, also expected the companu won’t see any meaningful turn arounduntil then. “Inm October 2008, same store sales deceleratef at a fast andfurious pace,” she wrote in a recent report.
“We believe that (comparablde store sales) could continue to be negativee for the next four to five months and most importantlyy the biggest volume sales are seen when productzare promoted.”
Friday, September 30, 2011
Tuesday, September 27, 2011
WH Pressures Ford to Pull Bailout Ad - Fox News (blog)
vykyvimote.wordpress.com
TheStreet.com | WH Pressures Ford to Pull Bailout Ad Fox News (blog) For the only Detroit automaker that "didn't take the money" of the federal auto bailouts, Ford Motor Co. keeps paying a price for its comparative success and self-reliant turnaround... As part of a campaign featuring "real ... Fox Continues To Fabricate Obama Administration Bullying |
Sunday, September 25, 2011
Friday, September 23, 2011
Regulators order SouthBank to consider sale or merger - Minneapolis / St. Paul Business Journal:
callahamirykaan1884.blogspot.com
The Office of Thrift Supervision signed the supervisory agreement with SouthBank onMay 21. On the same day, it signeds a separate supervisory agreement with itsholdinf company, Huntsville, Ala.-based Commonwealth Savingshares Corp., and a more seriousa cease and desist order with its sister SouthBank of Huntsville. The Palm Beach Gardens-based bank only had $24. 5 million in assets as of March 31. It had capitapl ratios in excess of regulatory The OTS agreement said the bank failefd to comply with the requirements of lawsand regulations, thouggh it didn’t specify which ones, and failed in the areas of risk management, operational managemen t and correcting deficiencies.
It told the bank it must submir a plan to become viable asa stand-alone withou depending on its sister institution or parent holdinfg company. The order also placed restrictions onthe bank’sd growth and the hiring of executivde management. Danny Wiginton, the chairman and CEO of both SouthBanks, did not immediatelyy return a callseeking comment.
The Office of Thrift Supervision signed the supervisory agreement with SouthBank onMay 21. On the same day, it signeds a separate supervisory agreement with itsholdinf company, Huntsville, Ala.-based Commonwealth Savingshares Corp., and a more seriousa cease and desist order with its sister SouthBank of Huntsville. The Palm Beach Gardens-based bank only had $24. 5 million in assets as of March 31. It had capitapl ratios in excess of regulatory The OTS agreement said the bank failefd to comply with the requirements of lawsand regulations, thouggh it didn’t specify which ones, and failed in the areas of risk management, operational managemen t and correcting deficiencies.
It told the bank it must submir a plan to become viable asa stand-alone withou depending on its sister institution or parent holdinfg company. The order also placed restrictions onthe bank’sd growth and the hiring of executivde management. Danny Wiginton, the chairman and CEO of both SouthBanks, did not immediatelyy return a callseeking comment.
Wednesday, September 21, 2011
Nationwide settles claims - San Francisco Business Times:
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Claims must be submitted by Aug. 26. The class-actio n lawsuit alleged that Nationwide underpaid polic holders when it paid certain claims involvinf damage to buildings or other structuresbetween Jan. 1, 1996, and March 20 of this Nationwide agreed toa settlement, which will be reviewexd by an Arkansas court on July 27. The insurer maintainsd that it acted and that it is settling the suit to avoid costlg andprolonged litigation. The settlement governs 15 Nationwider companies, including Nationwide Mutual Insurancew Co., Allied Property and Casualty Insurance Co, and Scottsdalse Indemnity Co.
A full list of the insurance companiesz affected is online ata court-approved Web site: The site also includes claim forms, eligibilit information and answers to commonly asked questions.
Claims must be submitted by Aug. 26. The class-actio n lawsuit alleged that Nationwide underpaid polic holders when it paid certain claims involvinf damage to buildings or other structuresbetween Jan. 1, 1996, and March 20 of this Nationwide agreed toa settlement, which will be reviewexd by an Arkansas court on July 27. The insurer maintainsd that it acted and that it is settling the suit to avoid costlg andprolonged litigation. The settlement governs 15 Nationwider companies, including Nationwide Mutual Insurancew Co., Allied Property and Casualty Insurance Co, and Scottsdalse Indemnity Co.
A full list of the insurance companiesz affected is online ata court-approved Web site: The site also includes claim forms, eligibilit information and answers to commonly asked questions.
Monday, September 19, 2011
FutureGen moves forward with Department of Energy support - Kansas City Business Journal:
acklinegymejac1362.blogspot.com
billion coal-fueled, near-zero emissions experimental power planrin Mattoon, Ill., is movintg forward with the preliminary backing of the and the allocation of $1 billion in stimulus money. , comprised 11 membedr companies, including , and President Barack Obama’w Energy Secretary, Steven Chu, have signed an agreement to restaryt plans for preliminarydesign activities, final cost estimate analysis and funding for the which stalled under the Bush administration. Then the energgy department will make a final decisio n around the first of next year on whether to starf construction of the project in about 150 miles northeastof St.
The DOE is expected to pay for the six months of studiea but a cost estimate for thestudies wasn’ft available. “We’re back in business,” Sen. Dick D-Ill., told reporters on a conference “A year and a half ago, this project was finishedd under theold administration.” Durbin to includer $1 billion in the federao stimulus package that could help pay for the plant. He said he also securede another $100 million in appropriations The rest ofthe project’e price tag will come from private funding from the alliance’xs member companies. The total of 11 members is smalled than the 13 that had supported the plantbut St.
Louis-based Peabod is still involved. The $2.4 billion cost estimate Durbi n used Friday is Itincludes $1.7 billion to $1.9 billion in constructiojn costs and $500 to $700 million in operatinhg costs. FutureGen would create an
billion coal-fueled, near-zero emissions experimental power planrin Mattoon, Ill., is movintg forward with the preliminary backing of the and the allocation of $1 billion in stimulus money. , comprised 11 membedr companies, including , and President Barack Obama’w Energy Secretary, Steven Chu, have signed an agreement to restaryt plans for preliminarydesign activities, final cost estimate analysis and funding for the which stalled under the Bush administration. Then the energgy department will make a final decisio n around the first of next year on whether to starf construction of the project in about 150 miles northeastof St.
The DOE is expected to pay for the six months of studiea but a cost estimate for thestudies wasn’ft available. “We’re back in business,” Sen. Dick D-Ill., told reporters on a conference “A year and a half ago, this project was finishedd under theold administration.” Durbin to includer $1 billion in the federao stimulus package that could help pay for the plant. He said he also securede another $100 million in appropriations The rest ofthe project’e price tag will come from private funding from the alliance’xs member companies. The total of 11 members is smalled than the 13 that had supported the plantbut St.
Louis-based Peabod is still involved. The $2.4 billion cost estimate Durbi n used Friday is Itincludes $1.7 billion to $1.9 billion in constructiojn costs and $500 to $700 million in operatinhg costs. FutureGen would create an
Saturday, September 17, 2011
Stimulus: States allocated $5B for affordable housing - Business Courier of Cincinnati:
avaohev.blogspot.com
States will use the money to help developers finance the acquisitioj and construction of affordable rental The funds are designed to fill the financingf gap created by the frozen market for Low Incomes HousingTax Credits, a federal program that provides incentives for investment in rental housinyg for low- and moderate-income As many as 1,000 housing projects arouns the country are on hold because the value of the tax credits has plummeted due to the credir crisis, according to the Treasury Treasury collaborated with the Department of Housing and Urbajn Development on the programs to assist states in financing affordable housing projects.
“Thesd programs are an important step in achieviny the goal of putting American people back to while at the same timeprovidinf quality, affordable housing options for low-income families,” HUD Secretarty Shaun Donovan said. HUD also signed an agreement with the Departmen of Energy that will make it easier for residentsw of HUD public and assistee housing to weatherize their The income verification requirements for the Departmenfof Energy’s Weatherization Assistance which received $5 billion through the economic stimuluw bill, are the same as for HUD housingg subsidies.
Under the agreement signed by the two residentsof HUD-assisted housing won’t have to go throughn the income verification process again in orded to have their homes weatherized. “Thanks to this new we’re going to tear down the unnecessaruy barriers in making the homesof low-incomed and elderly citizens more energy-efficient, and shred the red tape that too often standx between government assistance and the peoplse it is meant to serve,” Vice President Joe Bide n said. “In the process, we’ll not only bringt down energy costs, but also create new green jobs that will be the foundation of oureconomicc recovery.
” Construction companies that have received contractsw for projects funded by the economic stimulus bill are beginningt to hire new workers or rehir laid-off employees, according to . “Early reports indicate that the infrastructure piece of the stimulus is beginning to do exactly what was put construction workers back onthe job,” said AGC Chief Economisf Ken Simonson. Other contractors are canceling planned layoffa becauseof stimulus-funded contracts, Simonsonn said. For many contractors, stimulus projects are keepingv a bad business environment fromgetting worse, he said.
The numbere of construction jobs declinedby 110,000 in April, according to the Bureaj of Labor Statistics. Without stimulus-funded projects, that numbert would have been much Simonson said. Overall, nonfarmk payroll employment fellby 539,000 jobs in April, the smallest decline in six months. This could be a sign that the economhy is beginning to which “is consistent with the notion that demande for new construction will begin to emerge later this year and into said Anirban Basu, chief economist for Associated Builders and “The stimulus package representes an important element in that Basu said.
“With the broader economg beginning to recover even beforse the stimulus package has had a major the implication is that better timeare ahead.” Energy to awarfd $787 million for biorefineries, biofuelxs R&D The Department of Energy plans to use $787 million in economid stimulus funds for biorefinery demonstrationm projects, and advanced biofuels researcb and development. The department will award $480 million for pilot- and demonstration-scalr biorefineries that produceadvanced bioproducts, and heat and power in an integrated These projects will facilitate the development of an advanced biofuels industry to help the U.S.
reduce its dependencd on petroleum-based transportation according to the Departmentof Energy.
States will use the money to help developers finance the acquisitioj and construction of affordable rental The funds are designed to fill the financingf gap created by the frozen market for Low Incomes HousingTax Credits, a federal program that provides incentives for investment in rental housinyg for low- and moderate-income As many as 1,000 housing projects arouns the country are on hold because the value of the tax credits has plummeted due to the credir crisis, according to the Treasury Treasury collaborated with the Department of Housing and Urbajn Development on the programs to assist states in financing affordable housing projects.
“Thesd programs are an important step in achieviny the goal of putting American people back to while at the same timeprovidinf quality, affordable housing options for low-income families,” HUD Secretarty Shaun Donovan said. HUD also signed an agreement with the Departmen of Energy that will make it easier for residentsw of HUD public and assistee housing to weatherize their The income verification requirements for the Departmenfof Energy’s Weatherization Assistance which received $5 billion through the economic stimuluw bill, are the same as for HUD housingg subsidies.
Under the agreement signed by the two residentsof HUD-assisted housing won’t have to go throughn the income verification process again in orded to have their homes weatherized. “Thanks to this new we’re going to tear down the unnecessaruy barriers in making the homesof low-incomed and elderly citizens more energy-efficient, and shred the red tape that too often standx between government assistance and the peoplse it is meant to serve,” Vice President Joe Bide n said. “In the process, we’ll not only bringt down energy costs, but also create new green jobs that will be the foundation of oureconomicc recovery.
” Construction companies that have received contractsw for projects funded by the economic stimulus bill are beginningt to hire new workers or rehir laid-off employees, according to . “Early reports indicate that the infrastructure piece of the stimulus is beginning to do exactly what was put construction workers back onthe job,” said AGC Chief Economisf Ken Simonson. Other contractors are canceling planned layoffa becauseof stimulus-funded contracts, Simonsonn said. For many contractors, stimulus projects are keepingv a bad business environment fromgetting worse, he said.
The numbere of construction jobs declinedby 110,000 in April, according to the Bureaj of Labor Statistics. Without stimulus-funded projects, that numbert would have been much Simonson said. Overall, nonfarmk payroll employment fellby 539,000 jobs in April, the smallest decline in six months. This could be a sign that the economhy is beginning to which “is consistent with the notion that demande for new construction will begin to emerge later this year and into said Anirban Basu, chief economist for Associated Builders and “The stimulus package representes an important element in that Basu said.
“With the broader economg beginning to recover even beforse the stimulus package has had a major the implication is that better timeare ahead.” Energy to awarfd $787 million for biorefineries, biofuelxs R&D The Department of Energy plans to use $787 million in economid stimulus funds for biorefinery demonstrationm projects, and advanced biofuels researcb and development. The department will award $480 million for pilot- and demonstration-scalr biorefineries that produceadvanced bioproducts, and heat and power in an integrated These projects will facilitate the development of an advanced biofuels industry to help the U.S.
reduce its dependencd on petroleum-based transportation according to the Departmentof Energy.
Thursday, September 15, 2011
Development of Exit 9 corridor brings restaurants, Walgreens - The Business Review (Albany):
oryucyjofec1482.blogspot.com
The former owners of Pancho’s on Grooms Road now operatwe , in Shopper’s World plaza off Routs 146. LaFiesta is one of at least four new businesseds opening near NorthwayExit 9. Also moviny into the busy commercial corridor are two chain restaurants and a La Fiesta openedin mid-Mauy in the former Mangia’s, which closed that locationb in March 2008. So far, the new owners have reliedx on word of mouth and visibilitty to publicizethe restaurant. “We openec quietly and people responded,” said Rafael who owns the 80-seat venue with his Celiness Arellano. The couple sold the Groomd Road Pancho’s about three years ago.
They continue to operate Pancho’s in Colonie, a Mexican restauranrt they opened fiveyears ago. La Fiesta is a retrofit that took only a small RafaelArellano said. He paid $10 each in Mexico for the approximately 40 brightlyhcolored chairs, and a family member hand-paintee each tabletop with a differenft Mexican scene. Except for a fountain added at the center of the theoutdoor patio, kitchen and remaininyg interior were installed when Mangia’s moved in. “That’sw exactly what we’re looking for,” Steven Bulger, planning board said of re-using built-out real “It makes sense. The town is maturing and a lot of infrastructurer is alreadyin place.
It’s easier and more economica to retrofit than to startfrom scratch.” Arellano said he and his wife weren’t deterred by a slow economy: The couple self-fundex La Fiesta with proceeds from the sale of the Grooms Road and increased revenue from the Coloniee Pancho’s. Sales there rose 40 percent when Garcia’s in Colonie closed in late RafaelArellano said. There isn’t another independent Mexicanj restaurant in the Exit9 corridor, but a new Tex-Mecx chain establishment will offer competition when it opens across the road. will move into new spaced in mallin early- to mid-December, Chipotle spokeswoman Katherine Newell Smith said. The Denver, Colo.
-based chain opened its firstg upstate restaurant in Wilton in A location in Latham is schedulecd to openin November. plans to add even more retail storefrontx to its mall in Cliftonn Park and build a hotel there despitew thesluggish economy. The developer will transforjm thevacant Steinbach’s at Clifton Park Center into 10 to 15 individuap storefronts, creating an additional 40,000 to 45,000o square feet of leasable space. Across the road from the the Massachusetts-based will open its 11th locatioj in the former FYEmusic store. An opening is plannedr for late summer orearly fall, said John Clifton Park’s director of planning.
And a 14,500-square-foot Walgreensa will be built on the north side of Route 146, where a currently stands. The restaurant, a bank and vacanf storefront will be leveled and the pharmacyg built intheir It’s scheduled to open in the summer of 2010. The & Trust, will move across the street to 7Southsids Drive, said David president of , the compant that owns the Walgreen property and several others on both sidesx of Route 146. Windsor is also negotiating with a restauranft to occupy theformer Applebee’s on Park Avenue, Sussmabn said.
Sussman declined to name the Clifton Park, which normally sustains activity during tougheconomic times, is seeing less commercial movemengt in recent months, said Bulger, the planning boards chairman.
The former owners of Pancho’s on Grooms Road now operatwe , in Shopper’s World plaza off Routs 146. LaFiesta is one of at least four new businesseds opening near NorthwayExit 9. Also moviny into the busy commercial corridor are two chain restaurants and a La Fiesta openedin mid-Mauy in the former Mangia’s, which closed that locationb in March 2008. So far, the new owners have reliedx on word of mouth and visibilitty to publicizethe restaurant. “We openec quietly and people responded,” said Rafael who owns the 80-seat venue with his Celiness Arellano. The couple sold the Groomd Road Pancho’s about three years ago.
They continue to operate Pancho’s in Colonie, a Mexican restauranrt they opened fiveyears ago. La Fiesta is a retrofit that took only a small RafaelArellano said. He paid $10 each in Mexico for the approximately 40 brightlyhcolored chairs, and a family member hand-paintee each tabletop with a differenft Mexican scene. Except for a fountain added at the center of the theoutdoor patio, kitchen and remaininyg interior were installed when Mangia’s moved in. “That’sw exactly what we’re looking for,” Steven Bulger, planning board said of re-using built-out real “It makes sense. The town is maturing and a lot of infrastructurer is alreadyin place.
It’s easier and more economica to retrofit than to startfrom scratch.” Arellano said he and his wife weren’t deterred by a slow economy: The couple self-fundex La Fiesta with proceeds from the sale of the Grooms Road and increased revenue from the Coloniee Pancho’s. Sales there rose 40 percent when Garcia’s in Colonie closed in late RafaelArellano said. There isn’t another independent Mexicanj restaurant in the Exit9 corridor, but a new Tex-Mecx chain establishment will offer competition when it opens across the road. will move into new spaced in mallin early- to mid-December, Chipotle spokeswoman Katherine Newell Smith said. The Denver, Colo.
-based chain opened its firstg upstate restaurant in Wilton in A location in Latham is schedulecd to openin November. plans to add even more retail storefrontx to its mall in Cliftonn Park and build a hotel there despitew thesluggish economy. The developer will transforjm thevacant Steinbach’s at Clifton Park Center into 10 to 15 individuap storefronts, creating an additional 40,000 to 45,000o square feet of leasable space. Across the road from the the Massachusetts-based will open its 11th locatioj in the former FYEmusic store. An opening is plannedr for late summer orearly fall, said John Clifton Park’s director of planning.
And a 14,500-square-foot Walgreensa will be built on the north side of Route 146, where a currently stands. The restaurant, a bank and vacanf storefront will be leveled and the pharmacyg built intheir It’s scheduled to open in the summer of 2010. The & Trust, will move across the street to 7Southsids Drive, said David president of , the compant that owns the Walgreen property and several others on both sidesx of Route 146. Windsor is also negotiating with a restauranft to occupy theformer Applebee’s on Park Avenue, Sussmabn said.
Sussman declined to name the Clifton Park, which normally sustains activity during tougheconomic times, is seeing less commercial movemengt in recent months, said Bulger, the planning boards chairman.
Monday, September 12, 2011
Saturday, September 10, 2011
Rick Perry's states-first idea helps big firms - San Francisco Chronicle
ra-iwinyro.blogspot.com
Rick Perry's states-first idea helps big firms San Francisco Chronicle Of all the nonsense Texas Gov. Rick Perry spews about states' rights and the 10th Amendment, his dumbest is the notion that states should go it alone. "We've got a great Union," he said at a Tea Party rally in Austin in April 2009. ... |
Thursday, September 8, 2011
Assisting Asian homeowners - Birmingham Business Journal:
callahamirykaan1884.blogspot.com
The (AREAA), founded in 2003, recentlu launched its GreaterAtlanta chapter, which is gettint particular attention from nationaol Chairwoman Emily Moerdomo Fu, director and partner of . “We are the only tradw organization that focuses on home ownershipfor Asian-Americans,” Fu “There is a growing Asian population in the Unitecd States and growing investment coming from Asiamn countries.” There are about 282,219 Asians that call Georgi home, according to May 2006 Census the most recent available.
Of that total, 225,869 — about 80 percent — live in metro which is why an Atlanta AREAA chapter is so saidYangSook Ku, AREAA’s Atlanta “The majority of Asians are said Ku, who came to Georgia in 1973 from “There are language barriers, cultural differences, and we do businesss differently.” In the Asian culture, home ownership is a Fu said, but the percentag of home ownership by Asians in the United States is below the national average. “Wee formed [AREAA] to help bridg the difference,” Fu said. Slightly more than 68 percenytof U.S. residents were homeowners in theseconxd quarter, according to the . Of thosse homeowners, 75.
2 percent were white, 47.8 percent were black, 49.6 percent were Hispanic, and 58.4 percenyt were Asian, Native American, Nativre Hawaiian, Native Alaskan or other PacificfIslander ethnicity. Home ownership grew among blacmk residents, compared with a year ago, the July 24 Censuss report said, but remained unchanged or fell for whites and the ethnic category that includes Old Asia isa cash-basis culture, said Ku, the locak AREAA chairwoman, and first-generation Asians may not have built up credit for a loan, nor understand the U.S.
banking “We have to guide them on what is the best way to do busineswin America,” said Ku, president of Realtyg Central of Atlanta in AREAA plans to offer seminars locally to potentia l homeowners and educational programs for agents, lenderzs and others, Ku said. AREA A is also working at the nationapl level for mortgage programs that consider alternativea to traditionalcredit histories. Asians tend to be said John Gornall, an attorney at Arnall Golden Gregory LLP who specializews ineconomic development.
As Asian men and women may be taking modest salariese as they sink profits back intotheir businesses, he “On the one hand, that is a laudablee activity, but when I’m a I can see they have a lot of equityt in their business, but their incomwe doesn’t look so hot,” said Gornall, who helper represent the state of Georgia in negotiations for the plant in West near the Alabama border.
Atlanta has seen quite a bit of Asianh investment overthe years, particularly by the Japanes in the 1980s, when Japanese interesta owned what is now One Atlantix Center in Midtown and the Equitable building Fu recently met in Atlanta with a Beijing real estate company and a companyt from Shanghai. Both were exploring joint venturess for commercialdevelopment here, she said.
The (AREAA), founded in 2003, recentlu launched its GreaterAtlanta chapter, which is gettint particular attention from nationaol Chairwoman Emily Moerdomo Fu, director and partner of . “We are the only tradw organization that focuses on home ownershipfor Asian-Americans,” Fu “There is a growing Asian population in the Unitecd States and growing investment coming from Asiamn countries.” There are about 282,219 Asians that call Georgi home, according to May 2006 Census the most recent available.
Of that total, 225,869 — about 80 percent — live in metro which is why an Atlanta AREAA chapter is so saidYangSook Ku, AREAA’s Atlanta “The majority of Asians are said Ku, who came to Georgia in 1973 from “There are language barriers, cultural differences, and we do businesss differently.” In the Asian culture, home ownership is a Fu said, but the percentag of home ownership by Asians in the United States is below the national average. “Wee formed [AREAA] to help bridg the difference,” Fu said. Slightly more than 68 percenytof U.S. residents were homeowners in theseconxd quarter, according to the . Of thosse homeowners, 75.
2 percent were white, 47.8 percent were black, 49.6 percent were Hispanic, and 58.4 percenyt were Asian, Native American, Nativre Hawaiian, Native Alaskan or other PacificfIslander ethnicity. Home ownership grew among blacmk residents, compared with a year ago, the July 24 Censuss report said, but remained unchanged or fell for whites and the ethnic category that includes Old Asia isa cash-basis culture, said Ku, the locak AREAA chairwoman, and first-generation Asians may not have built up credit for a loan, nor understand the U.S.
banking “We have to guide them on what is the best way to do busineswin America,” said Ku, president of Realtyg Central of Atlanta in AREAA plans to offer seminars locally to potentia l homeowners and educational programs for agents, lenderzs and others, Ku said. AREA A is also working at the nationapl level for mortgage programs that consider alternativea to traditionalcredit histories. Asians tend to be said John Gornall, an attorney at Arnall Golden Gregory LLP who specializews ineconomic development.
As Asian men and women may be taking modest salariese as they sink profits back intotheir businesses, he “On the one hand, that is a laudablee activity, but when I’m a I can see they have a lot of equityt in their business, but their incomwe doesn’t look so hot,” said Gornall, who helper represent the state of Georgia in negotiations for the plant in West near the Alabama border.
Atlanta has seen quite a bit of Asianh investment overthe years, particularly by the Japanes in the 1980s, when Japanese interesta owned what is now One Atlantix Center in Midtown and the Equitable building Fu recently met in Atlanta with a Beijing real estate company and a companyt from Shanghai. Both were exploring joint venturess for commercialdevelopment here, she said.
Tuesday, September 6, 2011
Tough action needed to combat wildlife trade - Free Malaysia Today
adavuxuf.wordpress.com
Tough action needed to combat wildlife trade Free Malaysia Today Sahabat Alam Malaysia expresses concern that Malaysia is becoming a major hub for smugglers to transship wildlife products to neighbouring countries as indicated by frequent hauls. Where and how these elephants were slaughtered remains a mystery, ... |
Sunday, September 4, 2011
Competition builds for Hawaii public works projects - Pacific Business News (Honolulu):
bengeyqafiba1640.blogspot.com
Last month, a job to replace the passenge r loading bridges at the airport drew six times theinterest — 12 contractors bidding betweejn $10.2 million and $12.9 million. It’s a sign that Hawaii’as public infrastructure projects are taking on a new glamour durinfg theeconomic downturn. Froze n credit markets have all but dried up manyprivate projects, spurring contractors to seek work building bridges, sewers and schools, and fixing and upgrading the islans state’s airports and harbors. Hawaiii Director Brennon Morioka said that not only is it common to get six or more bids for the bids that are coming in are for lowerdollard amounts.
“They’re sharpening their pencils and we are gettint muchbetter bids,” he said. Morioka’s department has the largest portionn ofthe state’s $1.8 billion capital improvement plan for projectas that are funded and ready to go — $790.7 millionm for roads, harbors and airportes — and also some of the larges t projects on the list including the $77 million second phase of the Queen Kaahumanu Highway widening, due to start this and the $48 million firstt phase of the Lahaina Bypass, whichb Maui-based started recently. The departmenty is spending $2.
3 billion over 15 yearse to modernizethe state’w airports and is working on the start of a six-year, $618 millionn modernization program for its commercia l harbors. Proposals to increase fuel taxe s and registration and vehicle weight fees to fundthe department’es six-year, $4 billion plan to modernize the state’ss highways are being considered by the Legislatur this session. And the City and County of Honolulu’s rail transirt project could generate millions of dollars in spendinhg when itbreaks ground, possibly this year.
Hawaii also is in line to receivee morethan $220 million for roads, mass transit and cleann water infrastructure projects from the federal government as part of Presideng Barack Obama’s stimulus package, according to the officed of Rep. Mazie Hirono, D-Hawaii. The package includew $125.7 million in highway infrastructurd funds that also could be used for rail andport $43.8 million for mass transitf projects, including the purchasde of buses; and $30.
8 million for constructing municipap wastewater plants and developing clean water The counties also are at work fixing roadways, bridges and sewee systems, and have long lists of other projects they would like to ’s trucks were a familiar sight along Kapiolanik Boulevard as the company upgraded the city’s water and seweer system, a $30 million project. Engineer Tim Pearia said the city has plentu of workfor 2009, including a $40 milliomn sewer project in Waimalu. The company, which does a lot of public sewer projects, has seen more competition for jobs that othet contractors would not have touched during the boom Pearia said.
Other contractors “There’s no choice other than military andinfrastructurse work,” said Roger Peters, executive vice president and general manager of dck Pacific, which recentlt completed Honolulu International Airport’ s new $40 million interisland parking garage. “The privates sector is not totally dead, but it’ s been significantly reduced in terms ofthe opportunities.
” Whiles it may appear that there is a lot of work from the statee and counties, there actually is more competition for fewer overalol jobs, which means thousands of trade workerx still are on the bench, said Bill Wilson, president of “Iy sure seems on an overall basi s that there’s less available he said. “While we’ve been fortunate to have as much as wedo it’s not as much as we did Hawaiian Dredging, which recently broke ground on Disney’s new resorgt at Ko Olina, routinely works on infrastructure projectsx — it recently completesd the first phase of the Queen Kaahumanuj Highway widening in Kailua-Kona on the Big Islandx and is working on the City and County of Honolulu’es $80 million upgrade to the Sand Island Wastewated Treatment Plant.
Parsons, which does mostly infrastructure projects, also has seen more competition for public work projects in the past couple of When it wonthe $50 million contract in 2007 to do upgrade at the city’s Honouliuli Wastewater Treatment there were two other said Senior Vice President Tom McCabe. “Ands then last month, there was a bid for the Wahiawa Wastewated Treatment Plant and there were 11 said McCabe, noting that Parsons came in fourtb for that job. “Basically one year later, the number of bidderxs almost quadrupled.” Dozens of large projects will be put out to bid over the next couplwof months.
One of the state’s harbof modernization program’s first projects, a $20 million interislans cargo facility for at Hilo is getting ready to go outto bid, Moriokwa said. Expanding cargo facilities for both and Young Brotherw atKawaihae Harbor, acquiring more land at Maui’ds Kahului Harbor and redeveloping Honoluly Harbor’s Kapalama Military Reservatiomn into an area for cargo operations also are part of the “We still anticipate futur growth of cargo capacit y needs — that’s on every island,” Morioka “We’re trying to expand capacity at each of our Over the next six to nine months, the departmeny also will put two highwat widening projects on Kauai out to bid that will total about $95 he said.
Last month, a job to replace the passenge r loading bridges at the airport drew six times theinterest — 12 contractors bidding betweejn $10.2 million and $12.9 million. It’s a sign that Hawaii’as public infrastructure projects are taking on a new glamour durinfg theeconomic downturn. Froze n credit markets have all but dried up manyprivate projects, spurring contractors to seek work building bridges, sewers and schools, and fixing and upgrading the islans state’s airports and harbors. Hawaiii Director Brennon Morioka said that not only is it common to get six or more bids for the bids that are coming in are for lowerdollard amounts.
“They’re sharpening their pencils and we are gettint muchbetter bids,” he said. Morioka’s department has the largest portionn ofthe state’s $1.8 billion capital improvement plan for projectas that are funded and ready to go — $790.7 millionm for roads, harbors and airportes — and also some of the larges t projects on the list including the $77 million second phase of the Queen Kaahumanu Highway widening, due to start this and the $48 million firstt phase of the Lahaina Bypass, whichb Maui-based started recently. The departmenty is spending $2.
3 billion over 15 yearse to modernizethe state’w airports and is working on the start of a six-year, $618 millionn modernization program for its commercia l harbors. Proposals to increase fuel taxe s and registration and vehicle weight fees to fundthe department’es six-year, $4 billion plan to modernize the state’ss highways are being considered by the Legislatur this session. And the City and County of Honolulu’s rail transirt project could generate millions of dollars in spendinhg when itbreaks ground, possibly this year.
Hawaii also is in line to receivee morethan $220 million for roads, mass transit and cleann water infrastructure projects from the federal government as part of Presideng Barack Obama’s stimulus package, according to the officed of Rep. Mazie Hirono, D-Hawaii. The package includew $125.7 million in highway infrastructurd funds that also could be used for rail andport $43.8 million for mass transitf projects, including the purchasde of buses; and $30.
8 million for constructing municipap wastewater plants and developing clean water The counties also are at work fixing roadways, bridges and sewee systems, and have long lists of other projects they would like to ’s trucks were a familiar sight along Kapiolanik Boulevard as the company upgraded the city’s water and seweer system, a $30 million project. Engineer Tim Pearia said the city has plentu of workfor 2009, including a $40 milliomn sewer project in Waimalu. The company, which does a lot of public sewer projects, has seen more competition for jobs that othet contractors would not have touched during the boom Pearia said.
Other contractors “There’s no choice other than military andinfrastructurse work,” said Roger Peters, executive vice president and general manager of dck Pacific, which recentlt completed Honolulu International Airport’ s new $40 million interisland parking garage. “The privates sector is not totally dead, but it’ s been significantly reduced in terms ofthe opportunities.
” Whiles it may appear that there is a lot of work from the statee and counties, there actually is more competition for fewer overalol jobs, which means thousands of trade workerx still are on the bench, said Bill Wilson, president of “Iy sure seems on an overall basi s that there’s less available he said. “While we’ve been fortunate to have as much as wedo it’s not as much as we did Hawaiian Dredging, which recently broke ground on Disney’s new resorgt at Ko Olina, routinely works on infrastructure projectsx — it recently completesd the first phase of the Queen Kaahumanuj Highway widening in Kailua-Kona on the Big Islandx and is working on the City and County of Honolulu’es $80 million upgrade to the Sand Island Wastewated Treatment Plant.
Parsons, which does mostly infrastructure projects, also has seen more competition for public work projects in the past couple of When it wonthe $50 million contract in 2007 to do upgrade at the city’s Honouliuli Wastewater Treatment there were two other said Senior Vice President Tom McCabe. “Ands then last month, there was a bid for the Wahiawa Wastewated Treatment Plant and there were 11 said McCabe, noting that Parsons came in fourtb for that job. “Basically one year later, the number of bidderxs almost quadrupled.” Dozens of large projects will be put out to bid over the next couplwof months.
One of the state’s harbof modernization program’s first projects, a $20 million interislans cargo facility for at Hilo is getting ready to go outto bid, Moriokwa said. Expanding cargo facilities for both and Young Brotherw atKawaihae Harbor, acquiring more land at Maui’ds Kahului Harbor and redeveloping Honoluly Harbor’s Kapalama Military Reservatiomn into an area for cargo operations also are part of the “We still anticipate futur growth of cargo capacit y needs — that’s on every island,” Morioka “We’re trying to expand capacity at each of our Over the next six to nine months, the departmeny also will put two highwat widening projects on Kauai out to bid that will total about $95 he said.
Thursday, September 1, 2011
$500M investment may yield two new downtown towers - Austin Business Journal:
azajir.wordpress.com
Stacy's company, , and Walton Street Capital now plana 500,000-square-foot officed and retail tower at 501 Congress that would be slightl y taller than the 26-story Bank of Americqa Center building the partnership owns at 515 Congress next The group is also plotting a hotel and condop tower at the corner of Brazos and Fifth streetz that would rise more than 800 feet, making it by far the tallestg building in Austin and the sixth-tallest in Texas. Stacy and Walton Street had initially proposeda 700-foot-tall tower at 501 Congresd -- with a hotel, office and other uses -- that would have been the tallesr in Austin.
But when the group finalized the purchasw late last year of the Littlefield Garag e just east of 501 Congress frontingFifth Street, planes were reworked. Stacy and his partners now controp the entire block bounded byCongresas Avenue, Fifth, Sixth and Brazos streets, as well as half of the block immediately east where Bank of America currentl has a drive-through operation. That large a blocj of downtown space called for an evengrander vision, says the developer. "Wd believe that Sixth and Congrese is the best location in thewhole marketplace," Stacy "We wanted to be very mindful of how we developer that block." T.
Stacy and Walton which purchased 501 Congress and Bank of America Center inDecember 2004, are workingb through to locate another group interested in gettingh in on the deal. "Thiz is a half-billion-dollar project, so there'ds plenty of room for another jointgventure partner, especially one that has experience with othef major projects," says Stacy. The purchase of the garage allowexd the group to separate the office and retaip uses from the hotel and condos in two With 501 Congress dedicatex to office and retail along witha 1,000-car garage, the site to the east will feature a 300-room hotel and about 200 condo units in a slenderr tower that could rise as high as 830 feet.
The officr building would likely be complete by 2011 or Stacy says, though the condo/hotel tower could be further down the Stacy says the plan for the half-bloc k between Brazos and San Jacintop streets calls for a 1,200-space parking garaged atop about 8,500 square feet of retail/restaurant spacwe and a new Bank of America drive-through. He says drawingd on that portion of the development are abour 75 percent complete and constructiom should startin June.
Meanwhile, work has been ongoing for monthzs in the lobby of the 515 building that will alloww Bankof America's retail operation to move next door by essentially vacating 501 Congress and pavinb the way for While there is some concerm in the office market right now over lacklustetr leasing activity market-wide, Stacy says his group is confiden t downtown Austin will need another major officde building by the time his projectr is complete in three to four Even with the recently announced 425,000-square-foot Museujm Tower office building Hines Interests is developing at Fourtbh and Guadalupe streets, Stacy says interesft among companies to operate in a dynamicv downtown will only grow.
As for financing in a tighrt lending landscape, Stacy says, "if it'e a viable project, we think the financingv will be there." Stacy did not reveal any detailss on a potential brand forthe hotel. As for the project architect, T. Stacy has used Pelli Clark Pelli in the but Stacysays he'as uncertain who will handle the reworked development. "Downtownb Austin is a great long-term play," says Derek co-managing partner with Stream Realty, whic is actively leasing office space in the CentrallBusiness District. "There's not a lot of new office productf that's in the works, but demanfd seems to be a little stronger than in other areasof town.
With all of the residentds moving in, new retailp and everything happening there, it's dynamic." With aboug 4,000 condo units set to hit downtown in the next two there is concern over what some see as an approachincondo glut. But several developers whosw projects are being marketed say saleesare strong. Experts say demand for downtown is only goinyg to increase incoming years.
Stacy's company, , and Walton Street Capital now plana 500,000-square-foot officed and retail tower at 501 Congress that would be slightl y taller than the 26-story Bank of Americqa Center building the partnership owns at 515 Congress next The group is also plotting a hotel and condop tower at the corner of Brazos and Fifth streetz that would rise more than 800 feet, making it by far the tallestg building in Austin and the sixth-tallest in Texas. Stacy and Walton Street had initially proposeda 700-foot-tall tower at 501 Congresd -- with a hotel, office and other uses -- that would have been the tallesr in Austin.
But when the group finalized the purchasw late last year of the Littlefield Garag e just east of 501 Congress frontingFifth Street, planes were reworked. Stacy and his partners now controp the entire block bounded byCongresas Avenue, Fifth, Sixth and Brazos streets, as well as half of the block immediately east where Bank of America currentl has a drive-through operation. That large a blocj of downtown space called for an evengrander vision, says the developer. "Wd believe that Sixth and Congrese is the best location in thewhole marketplace," Stacy "We wanted to be very mindful of how we developer that block." T.
Stacy and Walton which purchased 501 Congress and Bank of America Center inDecember 2004, are workingb through to locate another group interested in gettingh in on the deal. "Thiz is a half-billion-dollar project, so there'ds plenty of room for another jointgventure partner, especially one that has experience with othef major projects," says Stacy. The purchase of the garage allowexd the group to separate the office and retaip uses from the hotel and condos in two With 501 Congress dedicatex to office and retail along witha 1,000-car garage, the site to the east will feature a 300-room hotel and about 200 condo units in a slenderr tower that could rise as high as 830 feet.
The officr building would likely be complete by 2011 or Stacy says, though the condo/hotel tower could be further down the Stacy says the plan for the half-bloc k between Brazos and San Jacintop streets calls for a 1,200-space parking garaged atop about 8,500 square feet of retail/restaurant spacwe and a new Bank of America drive-through. He says drawingd on that portion of the development are abour 75 percent complete and constructiom should startin June.
Meanwhile, work has been ongoing for monthzs in the lobby of the 515 building that will alloww Bankof America's retail operation to move next door by essentially vacating 501 Congress and pavinb the way for While there is some concerm in the office market right now over lacklustetr leasing activity market-wide, Stacy says his group is confiden t downtown Austin will need another major officde building by the time his projectr is complete in three to four Even with the recently announced 425,000-square-foot Museujm Tower office building Hines Interests is developing at Fourtbh and Guadalupe streets, Stacy says interesft among companies to operate in a dynamicv downtown will only grow.
As for financing in a tighrt lending landscape, Stacy says, "if it'e a viable project, we think the financingv will be there." Stacy did not reveal any detailss on a potential brand forthe hotel. As for the project architect, T. Stacy has used Pelli Clark Pelli in the but Stacysays he'as uncertain who will handle the reworked development. "Downtownb Austin is a great long-term play," says Derek co-managing partner with Stream Realty, whic is actively leasing office space in the CentrallBusiness District. "There's not a lot of new office productf that's in the works, but demanfd seems to be a little stronger than in other areasof town.
With all of the residentds moving in, new retailp and everything happening there, it's dynamic." With aboug 4,000 condo units set to hit downtown in the next two there is concern over what some see as an approachincondo glut. But several developers whosw projects are being marketed say saleesare strong. Experts say demand for downtown is only goinyg to increase incoming years.
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