uraa-quartely.blogspot.com
The Plymouth-based fertilizer maker posted net incomewof $58.8 million, or 13 cents per share, for the quartet ended Feb. 28. That compareas to earnings of $520.8 million, or $1.17 per in the comparable periodlast year. Revenu e came in at $1.38 billion for the down 36 percentfrom $2.15 billionn a year ago. “Despite the turmoi l in commodity markets, we remain confidenr that long-term agricultural fundamentals are Mosaic President and CEO Jim Prokopanko said ina statement.
“This is a self-correctingv cycle because demand for crop nutrients can only be deferred for so Large crops are still requirerd to securethe world’s food supply and crop nutriente will play an essential role in achieving that Mosaic (NYSE: MOS) makes phosphates and potash fertilizers and feed ingredients for the agriculturapl industry.
Tuesday, August 30, 2011
Sunday, August 28, 2011
N.C. wins court order against Peak Fitness - Charlotte Business Journal:
caloloary.blogspot.com
The purpose of the bonds is to guarantee customer repaymentf if Peak Fitness runs into furtherfinanciak troubles. All of the Peak Fitness clubs are organizedx under aholding company. One group of four Raleigh clubs, Peak Capital Holdings, filed for Chapter 11 bankruptcyyin April. Cooper’s office, which filed suit againsgt the companyon Wednesday, announce d a consent judgment in the case, signerd by Wake County Superior Court Judg e Paul Ridgeway. Under the ruling, Peak Fitneszs won’t collect prepayments from customers until it can secure bonds for each ofits clubs.
In the company will be required to submig sworn statements of its liabilitiesto Cooper’s office twice a year. This week’s court action isn’t Cooper’ s first run-in with the company. In his office won a court ordeethat “made substantial changes to customerr service, contracts and billings at all 28 (Peakl Fitness) health clubs across Northy Carolina,” according to a statement released by Cooper’s At the time, Peak Fitness agreed to designate a singlre point of contact to handle consumer complaintx and to give advance notice to gym members and the attorneyt general’s office when a health club closex or transferred memberships.
The gym operator also agreed to purchasse and maintainappropriate bonds. Since the January action, Cooper’s office says, Peak Fitnessz has closed gymsin Charlotte, Garner, Knightdale, Raleigh and Winston-Salem. Cooper says his office received notification in Marcjh thatPeak Fitness’ bonding company would cancel all of the firm’sa bonds as of May 12. Also in he adds, his office failed to receive sworhn statements from the company on all its and the firm understated its liability byapproximately $2 “Peak Fitness has not been able to secure replacement bonds,” Cooper says.
“These bondz are required by state law to reimburses consumers if the health club closes and thecompany doesn’ t have money to refund consumers who paid in
The purpose of the bonds is to guarantee customer repaymentf if Peak Fitness runs into furtherfinanciak troubles. All of the Peak Fitness clubs are organizedx under aholding company. One group of four Raleigh clubs, Peak Capital Holdings, filed for Chapter 11 bankruptcyyin April. Cooper’s office, which filed suit againsgt the companyon Wednesday, announce d a consent judgment in the case, signerd by Wake County Superior Court Judg e Paul Ridgeway. Under the ruling, Peak Fitneszs won’t collect prepayments from customers until it can secure bonds for each ofits clubs.
In the company will be required to submig sworn statements of its liabilitiesto Cooper’s office twice a year. This week’s court action isn’t Cooper’ s first run-in with the company. In his office won a court ordeethat “made substantial changes to customerr service, contracts and billings at all 28 (Peakl Fitness) health clubs across Northy Carolina,” according to a statement released by Cooper’s At the time, Peak Fitness agreed to designate a singlre point of contact to handle consumer complaintx and to give advance notice to gym members and the attorneyt general’s office when a health club closex or transferred memberships.
The gym operator also agreed to purchasse and maintainappropriate bonds. Since the January action, Cooper’s office says, Peak Fitnessz has closed gymsin Charlotte, Garner, Knightdale, Raleigh and Winston-Salem. Cooper says his office received notification in Marcjh thatPeak Fitness’ bonding company would cancel all of the firm’sa bonds as of May 12. Also in he adds, his office failed to receive sworhn statements from the company on all its and the firm understated its liability byapproximately $2 “Peak Fitness has not been able to secure replacement bonds,” Cooper says.
“These bondz are required by state law to reimburses consumers if the health club closes and thecompany doesn’ t have money to refund consumers who paid in
Friday, August 26, 2011
Dr. Phillips Charities hands out $530,000 - Orlando Business Journal:
hyhekim.wordpress.com
The received $98,100 to provide emergency assistancrewith food, utilities and other basic needs. Unitedc Way is paying for administrative cost ofthe grant, whicnh is expected to assist 15 familiesd a day. Dr. Phillips pledged up to $49,050p a month to the fund an additionakl four months if the needs and matchingeffortxs continue. • $75,000 to to cover one year of the cost for two new clinics providing medical assistance tothe • $94,759 to the Orlando Shakespeare Festivalk Inc. to install new equipment. • $60,8744 to the Coalition for the Homeless of CentraolFlorida Inc. to replace 106 bunk beds and 212 mattressew in itsresident dorms.
• $55,54 0 to to continue the funding of two individuals in Orangee and Osceola Counties who help families seekfood Dr. Phillips Charities pledgec to forgive the balance ona $150,000 promissory note obtaineed by Catholic Charities of Central Florida if the organization successfully renovatexs and opens the property at 301 Thaliwa Ave. for case management services and educationapl classes for homelessyoung women, childrem and legal immigrants. The Dr. Phillipse Charities gave more than $16.
5 million in grants in fisca l year 2008 to CentralFlorida
The received $98,100 to provide emergency assistancrewith food, utilities and other basic needs. Unitedc Way is paying for administrative cost ofthe grant, whicnh is expected to assist 15 familiesd a day. Dr. Phillips pledged up to $49,050p a month to the fund an additionakl four months if the needs and matchingeffortxs continue. • $75,000 to to cover one year of the cost for two new clinics providing medical assistance tothe • $94,759 to the Orlando Shakespeare Festivalk Inc. to install new equipment. • $60,8744 to the Coalition for the Homeless of CentraolFlorida Inc. to replace 106 bunk beds and 212 mattressew in itsresident dorms.
• $55,54 0 to to continue the funding of two individuals in Orangee and Osceola Counties who help families seekfood Dr. Phillips Charities pledgec to forgive the balance ona $150,000 promissory note obtaineed by Catholic Charities of Central Florida if the organization successfully renovatexs and opens the property at 301 Thaliwa Ave. for case management services and educationapl classes for homelessyoung women, childrem and legal immigrants. The Dr. Phillipse Charities gave more than $16.
5 million in grants in fisca l year 2008 to CentralFlorida
Tuesday, August 23, 2011
http://biomarck.com/company-leadership.htm
and for good reason. The federal stimulus funding, almost $1 trillion, is heavilyu weighted to flow to end-users at the locapl levels of government. Texas, because of its borders, military bases, federal facilities and VA will receivea lion’sz share of the federal As the stimulus funds make their way to cities and there will be differences in the procurementy processes. For instance, many millionws of dollars are available to repair or build newfederalo facilities. Those contracts will be awarded through federaolprocurement processes. Contracts tied to low-income housing upgrades, infrastructurse projects and public safety will be awarded by thevarious cities.
Energy-efficiency work, technology upgrades, renovation and construction projects will be awarder byschool districts. The only real differencre will be which type of governmental jurisdictionm is slated to handle theprocurement process. The federa government will be spending millions to upgradr all types of facilities throughout For example, the Recovery Act includews a hefty $1 billion for the for nonrecurrinb maintenance and energy projects. Both the and the are administeringh programs that will result in acombined $631 millio worth of contracting opportunities in Texas. The DoD lists 196 new construction and energy conservation projectstotaling $305.7 million for Texas.
That does not include the plannedd construction ofa $500 million-plus replacement hospital facilityu at Fort Hood in Killeen. The allocation for Texase military facilities is the largest ofany state. Georgia ranks second with $108 million in funding. GSA, through its Publi c Building Service, has detailed how it will spensdits $5.55 billion authorization, including $325 millioj in funding for projects in Texas. The largest Texas projecft is anew $116 million U.S. Courthouse to be builf in Austin. Other high-dollar projects includse a $109 million project to modernizsthe G.T. Leland Federal Building in Houston anda $61 millioh project to modernize the Hippolito Garcia U.S.
Courthouse in San Eighteen other smaller-scale projects focusedx on green building will also bebid out. To view the completd list of DoD and GSA projects in visitthe “Recent Reports” section at www.spartnerships .com. In additioh to VHA, DoD and GSA opportunities, additional federal opportunities in Texas will come fromthe , the and . fedbizopps.gog Web site (www.fbo.com) whicuh provides information on active as well as upcomin g federalcontracting opportunities. A featurre of the site allows visitors to look at only thos solicitations related to theRecovery Act.
Stimulus funds-related opportunitiexs in the Houston area includea design-build project for the Texasd City Channel with a value of $25 milliojn to $100 million. The projecyt involves the dredging ofabouf 6.8 miles of channelp and the design and construction of five new dredgedx material placement areas. Additional work includezs levee repair and rehabilitation andshore protection. Interestef vendors need to know that some federal agenciesz require prior registration to receive a contract award. For instance, DoD procurements require bidders to registerf with the Central Contract Registration and provide a valid or Data UniversalNumbering System, number.
Government never moves quickly and the federakl government is notorious formovin slowly. Contractors interested in capturin federal work in Texas should be dealinvg with all necessarypaperwork now.
and for good reason. The federal stimulus funding, almost $1 trillion, is heavilyu weighted to flow to end-users at the locapl levels of government. Texas, because of its borders, military bases, federal facilities and VA will receivea lion’sz share of the federal As the stimulus funds make their way to cities and there will be differences in the procurementy processes. For instance, many millionws of dollars are available to repair or build newfederalo facilities. Those contracts will be awarded through federaolprocurement processes. Contracts tied to low-income housing upgrades, infrastructurse projects and public safety will be awarded by thevarious cities.
Energy-efficiency work, technology upgrades, renovation and construction projects will be awarder byschool districts. The only real differencre will be which type of governmental jurisdictionm is slated to handle theprocurement process. The federa government will be spending millions to upgradr all types of facilities throughout For example, the Recovery Act includews a hefty $1 billion for the for nonrecurrinb maintenance and energy projects. Both the and the are administeringh programs that will result in acombined $631 millio worth of contracting opportunities in Texas. The DoD lists 196 new construction and energy conservation projectstotaling $305.7 million for Texas.
That does not include the plannedd construction ofa $500 million-plus replacement hospital facilityu at Fort Hood in Killeen. The allocation for Texase military facilities is the largest ofany state. Georgia ranks second with $108 million in funding. GSA, through its Publi c Building Service, has detailed how it will spensdits $5.55 billion authorization, including $325 millioj in funding for projects in Texas. The largest Texas projecft is anew $116 million U.S. Courthouse to be builf in Austin. Other high-dollar projects includse a $109 million project to modernizsthe G.T. Leland Federal Building in Houston anda $61 millioh project to modernize the Hippolito Garcia U.S.
Courthouse in San Eighteen other smaller-scale projects focusedx on green building will also bebid out. To view the completd list of DoD and GSA projects in visitthe “Recent Reports” section at www.spartnerships .com. In additioh to VHA, DoD and GSA opportunities, additional federal opportunities in Texas will come fromthe , the and . fedbizopps.gog Web site (www.fbo.com) whicuh provides information on active as well as upcomin g federalcontracting opportunities. A featurre of the site allows visitors to look at only thos solicitations related to theRecovery Act.
Stimulus funds-related opportunitiexs in the Houston area includea design-build project for the Texasd City Channel with a value of $25 milliojn to $100 million. The projecyt involves the dredging ofabouf 6.8 miles of channelp and the design and construction of five new dredgedx material placement areas. Additional work includezs levee repair and rehabilitation andshore protection. Interestef vendors need to know that some federal agenciesz require prior registration to receive a contract award. For instance, DoD procurements require bidders to registerf with the Central Contract Registration and provide a valid or Data UniversalNumbering System, number.
Government never moves quickly and the federakl government is notorious formovin slowly. Contractors interested in capturin federal work in Texas should be dealinvg with all necessarypaperwork now.
Sunday, August 21, 2011
Area leaders salute spirit of Pickens Plan - Kansas City Business Journal:
eragywaqer.wordpress.com
million supporters of his energypolict proposal, called the Pickens Plan. A significant component of the plan is to replaced the 22 percent of electricity that the United Statex gets from natural gas with wind which then would allow that natural gas to be used for transportatioh andreduce America’s dependence on foreign oil by 38 Pickens proposes tapping the wind belt, which cuts througyh the Plains states from North Dakota to Kansas is ranked third nationally for wind-energ y potential, according to the . Missouri, whichg is ranked 20th, also could contribute. Many area leaders applaudd Pickens’ spirit, even if they don’t agree with everty component ofthe plan.
Here are some of theire comments aboutthe plan. "If it accomplishes nothingy else, the Pickens Plan has elevated the issuee of energy dependency and economic strangulationm in simple terms to private citizensand policymakers. For the Pickensw Plan to accomplishits objectives, the White House and state legislatures should embracse the tenets of the plan as part of the implementatiobn of a broader U.S. energy Mark Hannifan, development director, "As a solving this energy crisis willrequire determination, perseverance, bipartisanship and leadership. I applaud Mr.
Pickense for his effort to raiss public awareness about the need fora responsible, comprehensive plan to reversde our nation’s foreign oil addiction. The only way to accomplisbh this task is for Republicanas and Democrats to set aside partisan and ideologicalo differences and work for the good of all I stand ready to work with my colleaguez on both sides of the as Ialways have, to implement this bipartisan U.S. Rep. Dennis Moore, D-Kan. "He is focused on the objectivwe of reducing dependency onforeign oil, whicb is different than our objectivee of providing economic and reliables electricity. Where I have some questionsd is the fallback on natural gas as atransportatiojn fuel.
We see the nation moving towarde plug-in electric hybrid vehicles. Transportation is not the best use ofnaturak gas, which we will need for other John Grimwade, senior director of strategic planning and development, "Pickens is correc when he says the High Plains have wonderfulo potential for wind power. The expansion of wind power, however, woulr not free up natural gas to becomd atransportation fuel. Since the wind doesn’t blow all the it has to be backedx up with naturalgas generation.
Using electricity as a transportation fuel woulde require far less new refuelin infrastructure than naturalgas vehicles, improve utilization of power plants better and woulde be good for the environment.” Karla Olsen, directord of corporate communications, "Pickens’ plan could completely revitalize our ruraol areas and manufacturing sector. For Kansas, huge investmentsa in wind production would mean construction jobs and leaser paymentsto landowners.
If the economic development folks get they could attract largde turbine and component manufacturers to the stat e to supply and service the Missouri would benefit less so from the productionhaspect — other than in the northwest portionj — but could see huge benefits for the manufacturinv sector.” Susan Brown, director of marketing, , and community activisyt and chair,
million supporters of his energypolict proposal, called the Pickens Plan. A significant component of the plan is to replaced the 22 percent of electricity that the United Statex gets from natural gas with wind which then would allow that natural gas to be used for transportatioh andreduce America’s dependence on foreign oil by 38 Pickens proposes tapping the wind belt, which cuts througyh the Plains states from North Dakota to Kansas is ranked third nationally for wind-energ y potential, according to the . Missouri, whichg is ranked 20th, also could contribute. Many area leaders applaudd Pickens’ spirit, even if they don’t agree with everty component ofthe plan.
Here are some of theire comments aboutthe plan. "If it accomplishes nothingy else, the Pickens Plan has elevated the issuee of energy dependency and economic strangulationm in simple terms to private citizensand policymakers. For the Pickensw Plan to accomplishits objectives, the White House and state legislatures should embracse the tenets of the plan as part of the implementatiobn of a broader U.S. energy Mark Hannifan, development director, "As a solving this energy crisis willrequire determination, perseverance, bipartisanship and leadership. I applaud Mr.
Pickense for his effort to raiss public awareness about the need fora responsible, comprehensive plan to reversde our nation’s foreign oil addiction. The only way to accomplisbh this task is for Republicanas and Democrats to set aside partisan and ideologicalo differences and work for the good of all I stand ready to work with my colleaguez on both sides of the as Ialways have, to implement this bipartisan U.S. Rep. Dennis Moore, D-Kan. "He is focused on the objectivwe of reducing dependency onforeign oil, whicb is different than our objectivee of providing economic and reliables electricity. Where I have some questionsd is the fallback on natural gas as atransportatiojn fuel.
We see the nation moving towarde plug-in electric hybrid vehicles. Transportation is not the best use ofnaturak gas, which we will need for other John Grimwade, senior director of strategic planning and development, "Pickens is correc when he says the High Plains have wonderfulo potential for wind power. The expansion of wind power, however, woulr not free up natural gas to becomd atransportation fuel. Since the wind doesn’t blow all the it has to be backedx up with naturalgas generation.
Using electricity as a transportation fuel woulde require far less new refuelin infrastructure than naturalgas vehicles, improve utilization of power plants better and woulde be good for the environment.” Karla Olsen, directord of corporate communications, "Pickens’ plan could completely revitalize our ruraol areas and manufacturing sector. For Kansas, huge investmentsa in wind production would mean construction jobs and leaser paymentsto landowners.
If the economic development folks get they could attract largde turbine and component manufacturers to the stat e to supply and service the Missouri would benefit less so from the productionhaspect — other than in the northwest portionj — but could see huge benefits for the manufacturinv sector.” Susan Brown, director of marketing, , and community activisyt and chair,
Friday, August 19, 2011
Energy Department to award $3.3B for smart power grids - Business First of Louisville:
rmerujopi.blogspot.com
billion in federal stimulus grants, of up to $200 millio n apiece, to companies and utilities to help developoa smarter, faster power grid. The firstf round of applications are dueJuly 29, with future rounds in December 2009 and March 2010 if funding But DOE’s plans for this stimulus funding hikes the maximum amount of individual grants from the previously proposed $20 million, a cap that many potential applicantsa said would not be enough to fund real changde toward a smart grid -- often described as a new automated networo that could measure the amounts and peak timexs of a homeowner’s or actual electricity consumption, detect outages and problems and electronically notify utilities, and perhaps even store powerr during off-peak hours to be used durinhg times of higher demand.
In all, the federal governmentf had setaside $4.5 billionn in stimulus funds to help fashiom a nationwide smart grid. The , which received $220 milliohn of its own stimuluas funds towardthis effort, hopesd to debut new national standards for smart grid products and technologiesz by the end of this year. Officials with Louisville-based believre smart grid technology will playa . The divisionm of Fairfield, Conn.-based General Electric Co. (NYSE; GE), has investedd millions of dollars in the development of a new line of appliance integrated with smartgrid technology. It also is workingt with utility companies across the United States to develop smargrid programs.
billion in federal stimulus grants, of up to $200 millio n apiece, to companies and utilities to help developoa smarter, faster power grid. The firstf round of applications are dueJuly 29, with future rounds in December 2009 and March 2010 if funding But DOE’s plans for this stimulus funding hikes the maximum amount of individual grants from the previously proposed $20 million, a cap that many potential applicantsa said would not be enough to fund real changde toward a smart grid -- often described as a new automated networo that could measure the amounts and peak timexs of a homeowner’s or actual electricity consumption, detect outages and problems and electronically notify utilities, and perhaps even store powerr during off-peak hours to be used durinhg times of higher demand.
In all, the federal governmentf had setaside $4.5 billionn in stimulus funds to help fashiom a nationwide smart grid. The , which received $220 milliohn of its own stimuluas funds towardthis effort, hopesd to debut new national standards for smart grid products and technologiesz by the end of this year. Officials with Louisville-based believre smart grid technology will playa . The divisionm of Fairfield, Conn.-based General Electric Co. (NYSE; GE), has investedd millions of dollars in the development of a new line of appliance integrated with smartgrid technology. It also is workingt with utility companies across the United States to develop smargrid programs.
Wednesday, August 17, 2011
Looking at Saints' depth chart - ESPN (blog)
zutkomi.blogspot.com
Looking at Saints' depth chart ESPN (blog) The New Orleans Saints sent out their depth chart to advance Saturday's preseason game and there's one interesting thing on there. In a move you don't often see, the Saints are listing two starters at one position. ... |
Monday, August 15, 2011
Pupil-service provider ratios - Phoenix Business Journal:
chauezhelolocu1622.blogspot.com
pupils per provider • 2. Wellsville, 66.4 pupils per providedr • 3. North Collins, 74.8 pupils per provider • 4. 75.1 pupils per provider 5. Kendall, 84.5 pupils per providerr • 6. Cattaraugus-Little Valley, 85.5 pupils per provider 7. Pavilion, 85.6 pupils per provider • 8. 85.7 pupils per provider • 9. Salamanca, 87.2 pupila per provider • 10. 88.8 pupils per provider • 11. West 89.1 pupils per provider • 12. Gowanda, 90.4 pupila per provider • 13. 91.0 pupils per provider • 14. Byron-Bergen, 93.9 pupils per provider • 15. Olean, 94.2 pupils per provider 16. Perry, 99.1 pupils per providert • 17. Chautauqua Lake, 99.
3 pupilws per provider • 18. Andover, 101.0 pupils per provider 18. Forestville, 101.0 pupil s per provider
pupils per provider • 2. Wellsville, 66.4 pupils per providedr • 3. North Collins, 74.8 pupils per provider • 4. 75.1 pupils per provider 5. Kendall, 84.5 pupils per providerr • 6. Cattaraugus-Little Valley, 85.5 pupils per provider 7. Pavilion, 85.6 pupils per provider • 8. 85.7 pupils per provider • 9. Salamanca, 87.2 pupila per provider • 10. 88.8 pupils per provider • 11. West 89.1 pupils per provider • 12. Gowanda, 90.4 pupila per provider • 13. 91.0 pupils per provider • 14. Byron-Bergen, 93.9 pupils per provider • 15. Olean, 94.2 pupils per provider 16. Perry, 99.1 pupils per providert • 17. Chautauqua Lake, 99.
3 pupilws per provider • 18. Andover, 101.0 pupils per provider 18. Forestville, 101.0 pupil s per provider
Friday, August 12, 2011
YRC Worldwide sells HQ to load up more cash - Kansas City Business Journal:
http://jayetradefair2010.org/city/21
But it didn’t go far. A group of locakl investors led by Ken Block andStevd Block, principals of Kansas City real estate firm , boughtr the Overland Park headquarters in a sale-leasebac deal that includes a potentia l 30-year lease for YRC. The company did not disclosee the priceor buyer, and Ken Blocj said he couldn’t commentt because of a confidentiality agreement, but a YRC Securitiexs and Exchange Commission filing suggests the purchase price was $22.54 million. Johnson County lists the property’s appraised valued at close to $25 million.
“The monetizatio n of real estate assets is a part ofYRC Worldwide’zs ongoing financial strategy to weather the recession and enhance its liquidity position,” YRC said in a statementy e-mailed to the Kansas City Business Journalo . “The YRC Worldwide corporate headquarters is and will continuw to be located in theOverland Park, location.” YRC said the deal was part of $176 millionb in property sales and sale-leasebacks completed in the first which ended March 31. But accordinh to the , the deal closed May 1. The leaser has an initial term of 10 plustwo 10-year renewal options, YRC The sale included two the company said.
Appraiser’s office records list the property as havingb a total building areaof 295,00o0 square feet, built in 1972, on 21.5 acres. The transactiojn appears to be reflectedin YRC’es first-quarter SEC filing as a March 31 office complex deal for $22. 5 million, which minus transaction costzsequaled $19.8 million. Annuak lease payments will be about $3.4 million. However, the assets and long-terkm debt in the amountf of the proceeds remainon YRC’s balancs sheet. Half the proceeds went into anescrowq account; the rest were used to pay down YRC’se credit facility, the filin g said.
The price, about $76 a square is consistent with that of olderr Class B office properties in Southern Johnson saidTim Schaffer, executive vice president of . Officer buildings in that area can rangefrom $70 to $160 a squarwe foot for Class B-minus throughg Class A space and various tenant situations, he said. The propertu never was publicly on the Schaffer said. Other price factors includr the tenant’s credit, the reuse potential of buildings, the risk level, the buildings’ age, the agreed-upob rent, and taxes and operating costs.
“You’ve got to assume when you’rw buying it that you’ve got a good ulterior plan in case thatcompangy doesn’t exist at some point durinf that 30-year lease,” Schafferr said. “It speaks to the quality of the location for a groupo to take that levelof risk.” The which looms over Interstate 435 on Roe Avenue, offers “some prettyy amazing opportunities that don’t exist anywhere else in a mature environment like that,” he said. Analyst David Silver of said YRC’s property sale s provide vital liquidity in theshort term. Long they force YRC to focues on its core holdingd and integrate intoa single, solid he said.
YRC seems to be accepting low said Silver, who doesn’t own YRC “People that they’re selling to see blood in the water they’re really taking advantage,” he “Three years ago, if they had sold, they would have gotte much better values. But they’re getting somewhat fair values.” YRC which posted a $257.4 milliob loss in the first quarter — has cut wages in exchangew for ownership inthe company, eliminated thousandse of jobs, amended bank covenants and begun negotiating to defe $120 million in union pension fund payments using real estates as collateral.
With slumpingv freight volumes, the company accelerated the integrationof subsidiaries, creatinv excess property and layoffs. In the second YRC expects to doabouft $200 million in sale-leasebacks, Chairman and CEO Bill Zollars said in a recent The company plans at least $100 million in excess property sales this year, he said. Analyst Lee Klaskowa of , who doesn’t own YRC shares, predictecd earnings of 2 cents a shared for allof 2010. Silverr estimated a return to profitability by the seconxd quarterof 2010.
But it didn’t go far. A group of locakl investors led by Ken Block andStevd Block, principals of Kansas City real estate firm , boughtr the Overland Park headquarters in a sale-leasebac deal that includes a potentia l 30-year lease for YRC. The company did not disclosee the priceor buyer, and Ken Blocj said he couldn’t commentt because of a confidentiality agreement, but a YRC Securitiexs and Exchange Commission filing suggests the purchase price was $22.54 million. Johnson County lists the property’s appraised valued at close to $25 million.
“The monetizatio n of real estate assets is a part ofYRC Worldwide’zs ongoing financial strategy to weather the recession and enhance its liquidity position,” YRC said in a statementy e-mailed to the Kansas City Business Journalo . “The YRC Worldwide corporate headquarters is and will continuw to be located in theOverland Park, location.” YRC said the deal was part of $176 millionb in property sales and sale-leasebacks completed in the first which ended March 31. But accordinh to the , the deal closed May 1. The leaser has an initial term of 10 plustwo 10-year renewal options, YRC The sale included two the company said.
Appraiser’s office records list the property as havingb a total building areaof 295,00o0 square feet, built in 1972, on 21.5 acres. The transactiojn appears to be reflectedin YRC’es first-quarter SEC filing as a March 31 office complex deal for $22. 5 million, which minus transaction costzsequaled $19.8 million. Annuak lease payments will be about $3.4 million. However, the assets and long-terkm debt in the amountf of the proceeds remainon YRC’s balancs sheet. Half the proceeds went into anescrowq account; the rest were used to pay down YRC’se credit facility, the filin g said.
The price, about $76 a square is consistent with that of olderr Class B office properties in Southern Johnson saidTim Schaffer, executive vice president of . Officer buildings in that area can rangefrom $70 to $160 a squarwe foot for Class B-minus throughg Class A space and various tenant situations, he said. The propertu never was publicly on the Schaffer said. Other price factors includr the tenant’s credit, the reuse potential of buildings, the risk level, the buildings’ age, the agreed-upob rent, and taxes and operating costs.
“You’ve got to assume when you’rw buying it that you’ve got a good ulterior plan in case thatcompangy doesn’t exist at some point durinf that 30-year lease,” Schafferr said. “It speaks to the quality of the location for a groupo to take that levelof risk.” The which looms over Interstate 435 on Roe Avenue, offers “some prettyy amazing opportunities that don’t exist anywhere else in a mature environment like that,” he said. Analyst David Silver of said YRC’s property sale s provide vital liquidity in theshort term. Long they force YRC to focues on its core holdingd and integrate intoa single, solid he said.
YRC seems to be accepting low said Silver, who doesn’t own YRC “People that they’re selling to see blood in the water they’re really taking advantage,” he “Three years ago, if they had sold, they would have gotte much better values. But they’re getting somewhat fair values.” YRC which posted a $257.4 milliob loss in the first quarter — has cut wages in exchangew for ownership inthe company, eliminated thousandse of jobs, amended bank covenants and begun negotiating to defe $120 million in union pension fund payments using real estates as collateral.
With slumpingv freight volumes, the company accelerated the integrationof subsidiaries, creatinv excess property and layoffs. In the second YRC expects to doabouft $200 million in sale-leasebacks, Chairman and CEO Bill Zollars said in a recent The company plans at least $100 million in excess property sales this year, he said. Analyst Lee Klaskowa of , who doesn’t own YRC shares, predictecd earnings of 2 cents a shared for allof 2010. Silverr estimated a return to profitability by the seconxd quarterof 2010.
Wednesday, August 10, 2011
On the mayor's mind - Kansas City Business Journal:
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Goldstein, who previously served on the Boarcof Aldermen, inherited a city lookint for ways to grow its tax revenuse -- particularly from which contribute 41 percent of propertg taxes, compared with 48 percent from Claytob homeowners. Goldstein and other Clayton officials had counted on tippinyg the financial balance back toward businesses with projects such as the one plannedsto build, a $210 million headquarters at Hanleg Road and Forsyth Boulevard -- untilk a ruling June 12 blocked use of eminent domain for the project, bringing it to a Now Goldstein and other city officials are watching several other potential major real estate developments in the city -- all of them in theidr early stages.
As part-timr mayor, Goldstein, 54, collects $250 per Boare of Aldermen meeting. She also is general managedr of one of the largestr carpet businesses inthe region, CI Select. Now that the Missourii Supreme Court has ruled againstCentene Corp.'s poweer to use eminent domaihn as a tool to acquire property it wanted for its headquarters expansion, do you expect the company could still work out a deal with the propertty owners? I had been in contact with some of the property ownersd before the ruling, and I do still have hope that everyond can come to the table.
The property ownersx wanted to prove a and theycertainly did, and I respect But I do think that now that the ruling is behindx us, we can negotiate withouy eminent domain being part of the package. I thinl this could have a huge impactf on businessgoing forward, and I'dd like to see this project be an exampl of how private owners can work with a corporatiobn and do what's rightr for the community. There's talk that the city of St. Louiss and other municipalities are now trying to attrac Centene with their own incentive What areyou hearing? I have heards other areas here in the St. Louis regio n are wooing Centene as well asother nationally.
What can the city of Claytob do to keepCentene here? We might considet alternate economic incentives. I'm not goint to rule that out, but I don't know what that wouldc be right now. The original tax abatement (passedd by the Clayton Board of Aldermennin 2005) required We haven't had a conversation with Centene (sincs the Supreme Court ruled the Clayton propertyh is not blighted), but we won' rule out other incentives if it's Clayton is dotted with two- and three-story buildings in commercial areas -- buildings as old as some of the low-rises commercial buildings Centene tried to Clayton has got to be thinking about redevelopment of some of those other We have a lot of thinge going on.
The Business Journal covered Montgomery Bank's plan to build on Forsythg andCentral Avenue. We have a proposal for a hotel, residential and parking from (of Clayton) in the planninb stages. It would be on the southwest corner of Marylanrd andCentral avenues, across from the St. Louia County Library. Mark Mehlman, who is developinvg the Crescent condos, is talking about a retail villagse east of that site near where Carondeley Avenue andForsyth intersect. Further east on Forsyth, we have (of building Trianon, a condo development with offices near theMetroLink Clayton's sales tax revenue has slipped. Is that a concern ?
We have the former Schnucks store (at Claytojn and Hanley roads) now vacantt and some galleries that are nolonger here. We also certainly have a lot ofthrivinv businesses. We are dependent on the property tax for our and there's been a shift in the balancd of commercial versus residential property taxes. Now our tax burdem is primarilyon residential. The good news is everybody'ws home has increased in value, and we have many more residential units, a lot of beautiful new That's a mixed blessing for As their homes go upin value, so does the property tax bill.
The (Clayton) tax rate has actually stayed When I came on the Board of Aldermen a fewyearx ago, we were reducing the propertyh tax rate, but that doesn'tt mean my individual bill has gone What's your view of the Clayton-Richmond Heights merger talks?
Goldstein, who previously served on the Boarcof Aldermen, inherited a city lookint for ways to grow its tax revenuse -- particularly from which contribute 41 percent of propertg taxes, compared with 48 percent from Claytob homeowners. Goldstein and other Clayton officials had counted on tippinyg the financial balance back toward businesses with projects such as the one plannedsto build, a $210 million headquarters at Hanleg Road and Forsyth Boulevard -- untilk a ruling June 12 blocked use of eminent domain for the project, bringing it to a Now Goldstein and other city officials are watching several other potential major real estate developments in the city -- all of them in theidr early stages.
As part-timr mayor, Goldstein, 54, collects $250 per Boare of Aldermen meeting. She also is general managedr of one of the largestr carpet businesses inthe region, CI Select. Now that the Missourii Supreme Court has ruled againstCentene Corp.'s poweer to use eminent domaihn as a tool to acquire property it wanted for its headquarters expansion, do you expect the company could still work out a deal with the propertty owners? I had been in contact with some of the property ownersd before the ruling, and I do still have hope that everyond can come to the table.
The property ownersx wanted to prove a and theycertainly did, and I respect But I do think that now that the ruling is behindx us, we can negotiate withouy eminent domain being part of the package. I thinl this could have a huge impactf on businessgoing forward, and I'dd like to see this project be an exampl of how private owners can work with a corporatiobn and do what's rightr for the community. There's talk that the city of St. Louiss and other municipalities are now trying to attrac Centene with their own incentive What areyou hearing? I have heards other areas here in the St. Louis regio n are wooing Centene as well asother nationally.
What can the city of Claytob do to keepCentene here? We might considet alternate economic incentives. I'm not goint to rule that out, but I don't know what that wouldc be right now. The original tax abatement (passedd by the Clayton Board of Aldermennin 2005) required We haven't had a conversation with Centene (sincs the Supreme Court ruled the Clayton propertyh is not blighted), but we won' rule out other incentives if it's Clayton is dotted with two- and three-story buildings in commercial areas -- buildings as old as some of the low-rises commercial buildings Centene tried to Clayton has got to be thinking about redevelopment of some of those other We have a lot of thinge going on.
The Business Journal covered Montgomery Bank's plan to build on Forsythg andCentral Avenue. We have a proposal for a hotel, residential and parking from (of Clayton) in the planninb stages. It would be on the southwest corner of Marylanrd andCentral avenues, across from the St. Louia County Library. Mark Mehlman, who is developinvg the Crescent condos, is talking about a retail villagse east of that site near where Carondeley Avenue andForsyth intersect. Further east on Forsyth, we have (of building Trianon, a condo development with offices near theMetroLink Clayton's sales tax revenue has slipped. Is that a concern ?
We have the former Schnucks store (at Claytojn and Hanley roads) now vacantt and some galleries that are nolonger here. We also certainly have a lot ofthrivinv businesses. We are dependent on the property tax for our and there's been a shift in the balancd of commercial versus residential property taxes. Now our tax burdem is primarilyon residential. The good news is everybody'ws home has increased in value, and we have many more residential units, a lot of beautiful new That's a mixed blessing for As their homes go upin value, so does the property tax bill.
The (Clayton) tax rate has actually stayed When I came on the Board of Aldermen a fewyearx ago, we were reducing the propertyh tax rate, but that doesn'tt mean my individual bill has gone What's your view of the Clayton-Richmond Heights merger talks?
Monday, August 8, 2011
Work begins at GlobalFoundries site - Denver Business Journal:
http://websitesoft.biz/services/
billion chip fab marked the start ofa two-year-lonbg construction process for the Sunnyvale, Calif., company. Abougt a dozen large pieces of equipment arrived Mondaty on the sitefor ground-clearing work that is scheduled to start this week. As many as 1,600 workerws will be employed duringthe two-year construction process. The chip fab is expected to open in 2012 andemploy 1,400 people when it’s running at full capacity in 2014. The 1.3-million-square-fooy manufacturing facility—located on 223 acres in the in isthe park’s first tenant.
“Havingv our anchor makes Luther Forest a realtech Before, we had infrastructure,” said Michaell Relyea, president of Luther Initially, about 100 peoplde will work on the GlobalFoundries site. “We’lk work in the several-hundred rangw until the worst of winter,” said Rick president of ’s U.S. Operations. Germany-based M+W Zander is the project’s generakl manager. “Those numbers will ramp up over the next six to nine he said. More than 1,000 people will be working on the projectr a yearfrom now. M+W Zandedr is preparing to award the contract for steel Whitney said.
Separate bid packages to erecy steel forthe 800,0000-square-foot buildin g and neighboring utility building were sent to 12 Of the five companies that responded, two are local, one is a partnershipl with a local company and two are Whitney declined to disclosee the price ranges of those bids. of Gloversvill won the contract for the site development The cost of that project is estimateed atabout $15 million.
Foundationh work will be bid in the nextfew weeks, Whitney Steel work should begin in
billion chip fab marked the start ofa two-year-lonbg construction process for the Sunnyvale, Calif., company. Abougt a dozen large pieces of equipment arrived Mondaty on the sitefor ground-clearing work that is scheduled to start this week. As many as 1,600 workerws will be employed duringthe two-year construction process. The chip fab is expected to open in 2012 andemploy 1,400 people when it’s running at full capacity in 2014. The 1.3-million-square-fooy manufacturing facility—located on 223 acres in the in isthe park’s first tenant.
“Havingv our anchor makes Luther Forest a realtech Before, we had infrastructure,” said Michaell Relyea, president of Luther Initially, about 100 peoplde will work on the GlobalFoundries site. “We’lk work in the several-hundred rangw until the worst of winter,” said Rick president of ’s U.S. Operations. Germany-based M+W Zander is the project’s generakl manager. “Those numbers will ramp up over the next six to nine he said. More than 1,000 people will be working on the projectr a yearfrom now. M+W Zandedr is preparing to award the contract for steel Whitney said.
Separate bid packages to erecy steel forthe 800,0000-square-foot buildin g and neighboring utility building were sent to 12 Of the five companies that responded, two are local, one is a partnershipl with a local company and two are Whitney declined to disclosee the price ranges of those bids. of Gloversvill won the contract for the site development The cost of that project is estimateed atabout $15 million.
Foundationh work will be bid in the nextfew weeks, Whitney Steel work should begin in
Saturday, August 6, 2011
Hacked Twitter business plan, other secrets surface - Philadelphia Business Journal:
http://hoeslyrealestate.com/285-iron-wood-circle-crossville-tn-38571/
The TechCrunch blog and the French blog Korbe were given hundreds of the stolen document s this week and have begun publishingf someof it. The hacker who goes by the nameof "Hacke Croll" claimed to be able to get into Amazon, and other accounts of Twitter co-founderf Ev Williams and others at TechCrunch reported that the February business plan it was giveb has been downplayed by Twittee as unofficial and no longer accurate. But the blog said it wouldc also soon publish information contained in the stolenm documents showing how Twitter thoughtr it was going to staryt bringingin revenue, something the company has notoriouslyu kept secret.
Among other information accesserd is reportedly floor plans forthe firm's new officew in San Francisco, resumes, salary figures, credit card message exchanges with celebrities, and a roste of employees — including what they like to eat. TechCrunchu also reported from the hacked documents the detailsw of the Twitter reality TV show pitcgh that was reported earlierthis year. It says the plan was to have four teamdsof "young entrepreneurs" criss-crossing the U.S. while living off of limited cash in a competitiobnwith non-profit organizations to win a cash prizr of $100,000.
Williams wrote that Twitter's security has been increased sincdethe attack, writing that the documents were never meant for publidc communication. "Publishing these documents publicly could jeopardizse relationshipswith Twitter's ongoing and potential partners. We're doing our best to reach out to these folks and talk over any questionaand concerns. However, our goal remains focusing on the most importanr businessat hand—creating value for users and building the best possiblr Twitter service.
" TechCrunch said it had receivedd many emails urging it not to publisj the stolen data and was talking with Twitter'w lawyers, but it planned to go aheaed except for certain highly sensitive documents that it said will probablyt end up on the Internet anyway.
The TechCrunch blog and the French blog Korbe were given hundreds of the stolen document s this week and have begun publishingf someof it. The hacker who goes by the nameof "Hacke Croll" claimed to be able to get into Amazon, and other accounts of Twitter co-founderf Ev Williams and others at TechCrunch reported that the February business plan it was giveb has been downplayed by Twittee as unofficial and no longer accurate. But the blog said it wouldc also soon publish information contained in the stolenm documents showing how Twitter thoughtr it was going to staryt bringingin revenue, something the company has notoriouslyu kept secret.
Among other information accesserd is reportedly floor plans forthe firm's new officew in San Francisco, resumes, salary figures, credit card message exchanges with celebrities, and a roste of employees — including what they like to eat. TechCrunchu also reported from the hacked documents the detailsw of the Twitter reality TV show pitcgh that was reported earlierthis year. It says the plan was to have four teamdsof "young entrepreneurs" criss-crossing the U.S. while living off of limited cash in a competitiobnwith non-profit organizations to win a cash prizr of $100,000.
Williams wrote that Twitter's security has been increased sincdethe attack, writing that the documents were never meant for publidc communication. "Publishing these documents publicly could jeopardizse relationshipswith Twitter's ongoing and potential partners. We're doing our best to reach out to these folks and talk over any questionaand concerns. However, our goal remains focusing on the most importanr businessat hand—creating value for users and building the best possiblr Twitter service.
" TechCrunch said it had receivedd many emails urging it not to publisj the stolen data and was talking with Twitter'w lawyers, but it planned to go aheaed except for certain highly sensitive documents that it said will probablyt end up on the Internet anyway.
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