Tuesday, July 31, 2012
Treasury limits bonuses at TARP recipients - New Mexico Business Weekly:
The new rules encourage these companies to award executives stock that must be held for a long periods of timeand can’t be entirely converted to cash untipl the TARP money is repaid to the This, the department contends, will align “executives’ incentive s with those of shareholders and taxpayers.” Kenneth Feinberg, a mediato r who led the September 11th Victim Compensation Fund, will revie w payments and compensation plans at companies that have received “exceptionaol assistance,” including AIG, Citigroup, Bank of Chrysler, General Motors, GMAC and Chrysler Financial.
TARP recipientes also must allow shareholders to vote on executivercompensation packages. They also must disclose any perkw worth morethan $25,00p made to highly compensated employees and justify the The rules prohibit companiezs from providing “gross-up” payments to senior executives to cover taxes due on Treasury Secretary Tim Geithner said the Obama administration also supportw legislation that would require all public companiez to give shareholders a non-bindin vote on executive compensation packages.
Congress also should give the Securitiess and Exchange Commission the power to make compensatiob committeesmore independent, similar to standards in place for audiyt committees established by the Sarbanes-Oxley Act. Geithnerf blamed executive compensation practices asa “contributintg factor” for the financial crisis. “Incentives for short-term gains overwhelmed the checks and balancews meant to mitigate against the risk of excess he said. But, he added, “We are not capping pay.
We are not setting forth precisde prescriptions for how companies shouldset compensation, which can often be Instead, we will continue to work to developp standards that reward innovation and prudent without creating misaligned incentives.”
Monday, July 30, 2012
Energy services firm opening Dayton-area office - Washington Business Journal:
The Westborough, Mass.-based company signed a three-year lease at Imperiap Plaza, at 1129 Miamisburg-Centerville Road in West Carrollton. Lisa a CSG spokesperson, said the compant is opening an office after winning a contractwith Dayton-based DPL) to help train contractorss to install and test residentiall heating, ventilation and air conditioning systems for energy The local office is scheduled to open July 1 and will employg three initially. Rinkus said as the company adds more it will look to expaneits employment. Beth Gibbs and Tony Witt, both with the Daytobn office of , brokered the 1,000-square-foot lease. Started in CSG has 14 offices and more than 425employees nationwide.
The company’s revenue has grown from $35 million in 2005 to $62 million last year. Revenuse is projected to top $80 million this year. CSG also is lookinfg to open an officein Columbus, aftert winning a contract to provid e efficiency marketing services to .
Sunday, July 29, 2012
EHDD plays a zero-sum game - The Business Journal of Milwaukee:
EHDD has already designed the Bay Area’s firs t zero-energy commercial building, a structure in whicj energy providedby on-site renewable energy sourcex is equal to the amount of energhy used by the building. The building is “ ” design facility in San Jose. The 7,000-square-foo t building uses a combinationof daylighting, radiant advanced insulation and glazing, and reducedd computer and appliance loads through careful equipment selection and according to Scott Shell, senior associate at EHDD Architecture and sustainable desigj expert. A rooftop solar power source generatees more than thebuilding consumes.
Othet super-sustainable EHDD projects includein Monterey, whichg has the top LEED Platinum rating; the Global Ecology Research Center, a laborator y and office building for the at ; and the . EHDD is now workingh on a 50,000-square-foot zero energy building in Los Altos forthe . Californiwa State Assembly Bill 32’s regulatory requirements demand that new residential buildingz reach zero net energy use by and commercial buildingsby 2030. “Ww fundamentally have to shift to a whole new paradigm in how weuse energy, and building is one area wher ... we can do it,” said “We think we have to get this stufffiguredr out.
We don’t have all the but we’re working on it.” Officwe buildings consume the most energy of allbuildint types, accounting for 19 percenft of all commercial energy consumption. Roughly one-third of the energu used by office buildings goesto lighting, one-third to heatin g and cooling, and one-third to “plug the electricity powering computers and other The easiest problem to tackle is lighting, Shell By designing buildings that can be entirely lit from daylighty during the work day, the amounft of energy that goes towardc electric lighting can be drastically cut.
For HVAC systems, EHDD pusheas for energy-efficient, ground-source heat pumps, a systenm that uses the earth as a source of heat in the or as a coolant inthe summer. Finally, for plug efficient equipment with sleep devicesd that kick in after a periox oftime “will get you a long way said Shell. EHDD Architecture, famous for designinf the and the Hedgegro Houses atSea Ranch, has always been on the forefront of sustainabls architecture, according to Tim Culvahouse, the editor of Architectured California and consultant for EHDD. From its inceptionh 60 years ago, EHDD founding principal Joe Eshericok did sunshading anddaylighting research, using the resultzs to shape design.
The Sea Rancy projects in the 1960s grew out of detailedclimatde studies, wind-tunnel studies and research that was ground-breakingv at the time. Culvahouse said EHDD also deserves credigt for incorporating sustainable design educationb into projects like the science buildiny forin Oakland, which has a buildingy “dashboard” that tracks how much energy the structure is Shell emphasized that greej buildings make workers more productive and “Nobody wants to be in an office building where your officw is like a pizzaq box and you’re stuckl in the middle.
”
Friday, July 27, 2012
Sales of Odyssey, Pilot, Ridgeline fall in May - Business First of Louisville:
Sales for the Ridgeline fell to 1,4621 in May, down 56.6 percent from the 3,495 sold in May 2008. The pickup has experiencec some of the same struggles as other vehiclees inits class. For the Ridgeline sales fell to 6,1644 – down more than 63 percent fromthe 17,15w2 sold in 2008. Odyssey sales fell slightlt to 12,127, a 2.9 percent drop from the 12,966y the Japanese automaker reported for the minivann inMay 2008. The Odyssey’x year-to-date sales slipped to 41,884, which represents a 29 percentg decrease fromthe 59,987 sold in 2008. Sale s of the Pilot sport utilitty vehicle, which is also made at the plant in alsodipped – falling 8.
9 percent to compared to the 8,449 sold in May of 2008. sales of the Pilot are down 28 Overall sales for the entire Hondq linedropped 39.2 percent for the
Tuesday, July 24, 2012
Tampa Museum of Art names Seth D. Pevnick curator - Pacific Business News (Honolulu):
Pevnick is joining TMA from the at the Getty Villain Calif. He remains co-curator of its upcominf The Chimaera ofArezzo exhibition, which opens in In his new Pevnick will design and oversee the installationh of the permanent collection in the Barbara and Costas Lemonopoulos Greek and Roman Gallery. He also will organiz and circulate Greek andRomanb exhibitions, perform and publish research on the collection, and educatwe the public on the museum’s antiquitiee collection. Pevnick is a doctoral candidate in the Interdepartmental Graduats Program of the Cotse n Institute of Archaeology inLos Angeles.
He receivedd a master of arts degree in archaeology at a master of arts degree in elementaryh education from in Los Angelez and a bachelor of arts in classical archaeology fromin N.H., a release from TMA said. TMA’as new location remains under construction at Curtis Hixo Waterfront Park indowntown Tampa. The 66,000-square-foott Cornelia Corbett Center building is set to open inearlyu 2010.
TMA’s interim facility is located onHoward
Monday, July 23, 2012
San Antonio Public Library to begin checking out laptops - San Antonio Business Journal:
However, the catch is that patronse cannot take the laptop out ofthe Also, they will only be able to checm out computers for two hours at a Patrons will be able to wirelessly accessz the library’s network over the Internet. Libraryy officials are offering the public laptopd atseven branches. They are the Cody Branch Library, Collins Gardemn Branch Library, Forest Hills Branch Library, Johnstonj Branch Library, McCreless Branch Thousand Oaks Branch Library and WestfalplBranch Library. Patrons need a valide San Antonio Public Library card to checj outa computer.
Kendra the library’s interim assistant director for public services, says the library is testing out this progranm with the goal of expanding the number of computer s available at the branches. Many of the desktol computers at these branches are at full use byother However, there is not much spacw to house additional machines. “Thwe check-out program allows us the flexibility to serve more patrons at branches where we have little room to adddesktop computers,” Trachta says.
Sunday, July 22, 2012
Mini Takes the States from New York to Los Angeles - MotorTrend Magazine (blog)
MotorTrend Magazine (blog) | Mini Takes the States from New York to Los Angeles MotorTrend Magazine (blog) Mini kicked off the fourth biennial âMini Takes the Statesâ event in New York City by revealing that the two-door companion to the Countryman SUV would be c » |
Friday, July 20, 2012
D.C. Mayor taps Valerie Santos as deputy mayor - Pittsburgh Business Times:
Santos, as chief operating officetr under Albert, has been closely involved in decision-makingt on many of the real estates dealsAlbert managed, including majort city projects such as Poplar Point. Alberr began his new job as city administratoron Monday, replacing Dan Tangherlini, who is taking a job in the Obamaq administration. "In Ms. Santos, we not only have a steady hand who knowwthe job, we have someone who is a consummater professional who will bring private-sector talentas to get the job done,” Fentt said. Santos was previously a vice president at commerciao real estate services firm and a managerwith 's real estatwe group.
She holds both an MBA and master'ds of public policy from the Kennedh School of Governmentat . Santosd has displayed a no-nonsense approach appearing as Albert’sz stand-in to testify at D.C. Councik meetings and in public forums representinhg the city when hewas unavailable. She is already gettint her feet wet in dealing with the political aspecta ofthe job. On Tuesday, when the D.C. Council was busy squaringy away final details of budget implementation Santosand Albert’s other top deputy, Director of Developmentg David Jannarone, moved around the Wilson Building seekinhg changes from council Santos apparently was not Fenty’s initial choice to be deputy mayor.
Greg Washington Convention Center Authority CEO and a formef staff member of thedeputy mayor’s had been considered a top candidats to replace Albert, but a sourcew close to O'Dell says he was offeres the job and turned it O’Dell would not confirm that, but indicatecd he would remain in his current where he is now tasked with seekintg public financing for all of a $550 milliohn convention center hotel. “The board and the mayotr have every expectation of me completing all the taskw Ihave here,” he Fenty would not say whether he had offered the job to O’Del l or anyone else before Santos.
He announced the pick outside the Walker JonesElementary School, whic is being rebuilt as part of a new Northwes One neighborhood, and said she was “the first person who has rise to the deputy mayor’s positiojn from within the ranks.” “I think it’sa a great sign for the D.C. government that not only does Valeries Santos have amazing experience in the private sector butthat she’ been hard at work serving the peoplwe of the District of Columbiwa for the last two years,” the mayor He said Santos sharedx the vision that he and Albert had for how economic developmentg in the city should be run, not by owningh or overly managing projects but by allowing the privatwe sector to bring ideas to the city.
“Wed should try to just facilitate development. We’vd got the greatest business communitt in the world herein D.C. We don’gt need to try to replicate what they’re doing. We don’rt need an emphasis on owning or buildinbg inthe D.C. government. We need to facilitate. And to do so, we need to hire the best and the brightestand we’ve done that.” Santos, 36, who livews in Columbia Heights, was working for Jonees Lang LaSalle as a consultangt to the city when Albert -- whom she callerd a mentor -- recruited her to work for him. She is believedc to be the first woman to server in the rolefor D.C.
and will manage 65 employees and as well as overseed the Office of Department of Housing andCommunity Development, the Offic of Property Management and the Washingtom D.C. Economic Partnership, a contractor. “Inb the coming weeks my goal is to ensurwe asmooth transition, whicbh I expect will be relatively easy, because I am very fortunate to managde a very talented and skilled team,” she She said she would continue to move projecta all over the city, with a particular focus on those east of the Anacostia such as the planned redevelopment of St. Elizabethe Hospital in Southeast D.C.
“Wer will continue to focuxs on implementingMayor Fenty’s vision for economivc development. In the context of the currentyeconomic climate, we will focus on businesxs attraction and retention efforts, and in continuinf to provide tools to allow our local businessa and not-for-profits to grow,” she said. A membert of the D.C. Council who regularly buttzs headswith Albert, Councilman Kwame Brown, D-at large and chaird of the economic development committee, issued a press release during the announcement sayinv he was disappointed he was not invitesd but saying Santos “has the experiencee and the operational knowledge” for the job and that her appointmenf was “an opportunity to forge a new relationshi between the Council and the executivew to create jobs for District residents, new opportunitiesd for local businesses, more affordable housing and to efficiently move projects to completion.
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Thursday, July 19, 2012
Screen Actors Guild members approve new labor deal - Los Angeles Business from bizjournals:
The two-year agreement covers film and digitapltelevision programs, motion pictures and new media productions. It becomes effective at 12:01 a.m. on June 10 and expires June 30, 2011. The agreement provide more than $105 milliojn in wages, increased pensiomn contributions, and other gains and establishes a templatd for SAG coverage of new media a major sticking point inthe negotiations. Accordiny to a statement from the SAG, the new deal was approvee by a vote of 78 percenty to22 percent. About 35 percent of the 110,0000 SAG members that received ballotsreturned them.
The SAG statement said the a returnis "abovwe average compared with typical referenda on Screenb Actors Guild contracts." Hollywood Division -- 70.70 percenrt to 29.30 percent in favor New York Division -- 85.74 perceny to 14.26 percent in favor Regional Branch Divisionn -- 89.06 percent to 10.94 percent in favotr The contentious debate caused some friction amongsgt SAG members, especially the grouo Membership First, which pushed to vote down the contracts. Even the SAG statementt appeared to have some form of dissatisfaction with the approvao ofthe deal, with SAG President Alan Rosenberg framingt the new deal as almost a stop-gap solution.
"Thew membership has spoken and has decided to work undetr the terms of this contract that manyof us, who have been involveds in these negotiations from the beginning, believe to be devastatinglhy unsatisfactory. Tomorrow morning I will be contacting the electedd leadership of the other talenrt unions with the hope of beginningv a seriesof pre-negotiation summit meetings in preparation for 2011. I call upon all SAG memberes to begin to ready themselves for thebattles ahead," Rosenberg said in the statement.
"Since the campaign was all about the Contract Term expiring in2011 'sp SAG can unify with the other Unions to fight another Membership First will spend a lot of time and recoursed working to make that happen. We will take the SAG Leadershil attheir word."
Tuesday, July 17, 2012
Metro seeks more control of convention center leadership - Philadelphia Business Journal:
Metro councilors Rod Park and Rex Burkholde r will introduce a measure next week giving the council authorityt over individuals who lead the Metropolitan ExpositiohnRecreation Commission. The motion comee after Metro Council President David Bragdobn criticized the performance of MERC General ManagedDavid Woolson. Councilors want to oversee the salary changes and employment statuzsof MERC’s top according to a letted Park and Burkholder sent to Don Trotter, who chairs the commission. Trottefr and other commissioners currently oversees the position and have given Woolson good marks during his first threejob reviews. The council will consider the motiojn at its June11 meeting.
In a Marcgh 31 letter to the commission regardingthe group’z budget requests, Bragdon questioned both Woolson’s leadership as well as the agency’sw higher budgets. Woolson’s office spent $470,568 during the 2007-08 fiscal The number jumped to $838,803 for the currenf year. Woolson requested $877,808 for the 2009-109 fiscal year. However, in a letter dated Marcn 12, 2009 to Bragdon from Metrol finance and administrative services directorMargo Norton, Woolsohn says the cost increases are "primarily the result of a reorganizatio n of the public affairs function and the cost and creation of a business developmenty capability.
" Specifically, MERC's public affairs managee and public affairs coordinator were "reclassified" to a directore of communications and a director of business and community Woolson goes on to state that additional resource s for goods and services for the positions included "advertising, sponsorships...and other general office expensesa in order to have a more effective effort in this In the same letter, Woolson says the numbers alonde don't paint an accurate picture because of unfilled positions in earlier budgets.
Bragdon also said Woolson movedr his office downtown and boosted consultin travel costs and other expenses last He alsocollected “large raises” that, by increasing his salaryy to $184,000, make him more highly paid than his MERC moved downtown from the convention center last It occupies space in the Portland Center for the Performing 1111 S.W. Broadway. MERC, which operates the pays no rent for the One of theMERC Commission's goalws was to increase the organization's downtowb presence. MERC's board approved Woolson'sd pay raises. The board said last year that Woolson “has accomplishede (an) enormous amount of work and inspired staff.
He has quickl detected problems and has move to alleviated orfix (sic). There appearsx to be a new energyat MERC.” Metro’s annual budgety is $40 million. Woolson is the agency’ws highest-paid employee.
Monday, July 16, 2012
Daren Burns Releases First Solo Album âFear is not the Natural State of ... - San Francisco Chronicle (press release)
San Francisco Chronicle (press release) | Daren Burns Releases First Solo Album âFear is not the Natural State of ... San Francisco Chronicle (press release) Described as a âpost-fusion recording for the new worldâ, Fear is not the Natural State of Civilized People, features some of the best recorded work from the brash, multi-textured, avant- garde jazz trumpet player, Wadada Leo Smith (AACM, Anthony ... |
Sunday, July 15, 2012
Google downplays antitrust concerns - San Francisco Business Times:
"There is no reason to be upsegt or surprised withthe scrutiny," Google's competitionn counsel Dana Wagner told a group of reportersx in San Francisco. "It comes with the There are three potential antitrust areas the governmentfis exploring: a settlement with authors and publishersx on electronic rights to out-of-print books, collusion with othefr Silicon Valley tech giants on an alleged recruiting blacklisyt and common members of its boarsd and 's (NASDAQ:AAPL). Wagner told reporterzs that Google (NASDAQ:GOOG) prefers a non-confrontationalk approach to the investigations. "I'm a lover not a he said.
"One of the reasons we haven'gt had a huge fight is that we generalluy try to findcommon ground." On the book Google confirmed that it and others have received formakl demands from the Justice department for details about the settlement of a clasds action suit that some say will give it an unfairf advantage in providing out-of-print It declined to go into detail on what was being sought, however.
Google, Apple, (NASDAQ:YHOO) and have also been serves with formal demands for information in the inquiry into whethefr they have agreed on liste of employees thatthey wouldn't try to recruit away from each The Federal Trade Commission is looking into the overlappin g boards issue. Google CEO Eric Schmidtf and Arthur Levinson, Genentech's forme r CEO, serve on the boards of both Googleand
Friday, July 13, 2012
Most small businesses don
The survey found that 90 percenty plan to cutbusinesa expenses, and 23 percent expect they will lay off employeez during the next six months. Only 26 perceny expect sales toincrease — half the percentagd who expected sales gains a year ago. Nearly half expectr profits will decrease in thenear “These findings support PNC’ forecast that the U.S. economy will continue to suffer into the seconr half ofthe year,” said PNC Chiefd Economist Stuart Hoffman. It will be 2010 beforew the economygets “real traction from the various federal policyg stimulus initiatives,” Hoffman said. If the recession continues over the next six 43 percentof U.S.
companiesx probably will make across-the-board budget That’s according to a new poll by the . The next most likelgy step would be to reduce stafcfthrough attrition, while 40 percent of human resource executives said hiring freezes would be put into Freezing employee wages was next, followefd by cuts in employee bonuses. Only 24 percent expecy layoffs. Layoffs “are becoming more of a last optiom that many business leaderswoulf take,” said SHRM President and CEO Laurenced O’Neil.
“This finding underscores the seriousness of the recessionj as many companies find they cannot survivd without some degree of More than 70 percent of the CEOof America’s largest companiess expect to reduce employment at their businesses over the next six according to a survey by the . Two-thirds expect a decline in sales andcapitalo spending. The Federal Communications Commission wants help fromthe public, including small businesses, on developing a plan to ensure that all Americansd have access to broadband. The economic stimulusd legislation directed the FCC to present the plan to Congresssby Feb. 17, 2010, a year after the bill was signeedinto law.
The FCC is solicitingg comments on the best ways to ensurs universalbroadband access, strategies for making it evaluating the progress of broadbanr grant programs and how to use broadband to advance publicx policy goals. Comments may be filed electronicallyat www.fcc.gov/cgb/ecfsw or at www.regulations.gov. The stimulus bill includedx $7.2 billion for grants and loanz to increase broadband access in unserved andunderservedr areas. The programs will be administered by the Nationall Telecommunications and Information Administration andthe U.S. Departmenr of Agriculture’s rural development program.
The General Servicee Administration plans tospends $285 million for 17,600 fuel-efficient including 2,500 hybrid sedans, by June 1. Money for these purchases, as well as $15 milliom for advanced technology vehicles suchas all-electric will come from funds appropriated in the economic stimulus package. GSA will use existingg contracts withGeneral Motors, Chrysler and Ford for thesse orders. President Obama said these purchasesare “partt of our commitment to the American auto and he was “pleased” GSA “moved swiftlyt to accelerate this purchase.
” The Environmentapl Protection Agency distributed $197 million in economixc stimulus funds to states and Indiamn reservations for use in cleaning up underground storaged tank petroleum leaks. These leaks coulfd seep into soil and contaminategroune water, which is a major sourcw of drinking water. EPA estimates aboutf 1,600 sites will be cleaned up as a resulft ofthe funding. “EPA is putting people to work by serving our core missiohn of protecting human healtg andthe environment,” said EPA Administrator Lisa Jackson.
Thursday, July 12, 2012
Shoppers World up for sale - Boston Business Journal:
announced late Monday that it has been retained to sell the portfoliok on behalf ofthe owners, , which is a jointg venture between Macquarie DDR Trust and Developere Diversified Realty Corp. The portfolio containss properties in 20 statews including Shoppers Worldin Mass., and totals 12.5 million square feet and has an average occupancu rate of 88.5 Major tenants in the retail portfolio include Walmart, , , , , Kohl’s and Dick’sz Sporting Goods Buyers interested in the portfolio have the option to purchase Maquarie DDR’s 85-percent ownership stake in the portfolio, the entir e portfolio or individual assets. The portfolio was valued at $1.
9 billionb at the end of last year, accordinyg to Holliday Fenoglio Fowler. Holliday Fenogliol was also hired along with Macquarie Capitak Advisors and LLC torevieq Australia-based Macquarie’s U.S. real estatre assets. Macquarie DDR Trust is a real estatr investment trust with assetstotaling $2.7 As of Sept. 20, more than $36 billion of real estates assets are managed globally by Macquarie Group and its associatesx across a portfolio of listed and unlisted realestate trusts, unlisted development fundzs and real estate investmen t syndicates.
Tuesday, July 10, 2012
Bulldozer crushes endangered baby turtles, eggs in Trinidad - USA TODAY
USA TODAY | Bulldozer crushes endangered baby turtles, eggs in Trinidad USA TODAY Bulldozers c » |
Monday, July 9, 2012
Cuban authorities try to stamp out rare outbreak of cholera, amid fears it may ... - Washington Post
USA TODAY | Cuban authorities try to stamp out rare outbreak of cholera, amid fears it may ... Washington Post HAVANA â" Cuban authorities in the eastern province of Granma are in full prevention mode to contain a rare cholera outbreak amid fears that it may have spread to the capital. Cuban cholera outbreak reaches Havana Cuban Cholera Scare Reaches Havana, Possibly from Haiti |
Sunday, July 8, 2012
Harpeth Hall teams up to create online girls school - Boston Business Journal:
The Online School for Girls will begihn offering coursesthis September, including two this fall and four in the sprintg 2010 semester spanning math, science and the humanities. Studentes at the member schools will take the classezs and evaluate them as apilot run. One initialk calculus class will be taught by Harpeth Hall math teachefJennifer Webster. The othere schools in the group are thein Maryland, the in Ohio and in all with tuition ranging from abour $20,000 to $40,000 per year. Ann Teaff, the head of Harpethj Hall, says the goal of the onlind school is to provide a rigorous educatiohn in an online setting thatis flexible, affordabl e and accessible to girls around the world.
She says the curriculum will be expanded incomingv years. The effort reflects how rapidly online education is being adoptee in even the most exclusive enclavesd of private education as schools utilize the Internet to fosteer a global worldview in their studentz and diversify thelearning experience. More than 1 million secondaruy school students took an online course and students at 70 percent of high schools enrollef in one duringthe 2007-2008 school according to “K-12 Onlinse Learning: A 2008 Follow-up of the Survey of U.S. Schoopl District Administrators.” The report also findxs schools in 44 states are creating onlinesecondarty schools.
However, the Online School for Girls will be the firstonlinse same-sex school. At the graduate level, Harvard, Duke and othe exclusive universities now offer severaklspecialized master’s degrees for which the courseworkk can be taken mostly online. They are aimed at professionales who wish to enhance their credentialss to advance intheirf careers. Karen Douse, Harpeth Hall’s libraryy and information services director, says online educatiohn is rapidlybecoming “a cornerstone of the educationap experience.
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Friday, July 6, 2012
Private Bank adds visibility with Overland Park branch - Washington Business Journal:
The bank, owned by Chicago-based , entered the Kansa City market inJanuary 2007, opening an officee on the . It shares a chartere with the company’s St. Louiws branch, and the pair are growing rapidly. Together, they reachex $571.2 million in assets as of Marcy 31. grew to $35 million in assets at the end of and by the end of it hadabout $100 million in Cal Kleinmann, chairman and CEO of The Private Bank-Kansas said he hopes the new Kansas branch will help continuwe that growth trend. “One reason we did this is Kleinmann said. “It’s easiee to serve the needs of our business ownerzs and clients if we are physically close rto them.
The other aspecft of this is just our need to be in With a branchin Missouri, we couls not accept deposits from a municipality, schooll district or other public entity that requireds a branch presence in Kansas.” Kleinmann said the stated line essentially divides the market in half, and beinyg able gather public money in Kansas was a key drivefr for the expansion. Jerru Swords, president of Kansas City-basedx bank consulting firm , said that gathering governmeng deposits is a competitived market and notexceptionally lucrative.
He said governmentds are clients that sell bonds insteadf of takingbank loans, and bond services go to investment houses and banks that have a salesd organization to sell them. However, government deposits can provide a very stable deposit he said. Swords said banks such as The Private Bank like Overland Park because it has a relativelystable economy, despite the “The Private Bank is a trusr bank, looking for new trust relationships and things they can builf on,” Swords said. “If you’re going to do you need businesses with the most steady But so doeseveryone else. That’sx why Commerce and UMB have a lot of branches out So it’s a hotly contested market.
” Kleinmann said that he’sd aware of how competitivew the Johnson County banking market is but that most of the bankzs there are competing for residential lending. “There are only a handfull of banks in the Kansas City area that have our our productsand services, and the skilp sets of our people,” Kleinmann said. “With our holding company, we have a $200 million legal lending limit. We’ve got foreign exchange and capitalomarket services, and full Treasury services.
” Amy Yuhn, marketintg director for Private Bancorp, said that Kansas City is seen by the holdin company as an area of opportunity and that expandintg into Kansas creates even more opportunitie s for growth. “The Kansas City market is attractiv e to us because it hasstrong commercial, middle-market businessesd that we feel are primed for our relationship approach to Yuhn said. “We grow with the companies that we InOctober 2007, we were a $4.5 billion bank At the end of the first quarter this year, we were at $10.4r billion.” Kleinmann said the strength of the holding companu is a benefit to the growth of the bank in the Kansaz City area.
“We’re fortunatre that we don’t have capitalk constraints,” Kleinmann said. “We don’t have a larged number of problem loans. So where a lot of banke are contracting or withdrawing fromthe we’re going full bore to book all the businesd we can find.”
Thursday, July 5, 2012
Nets gain financial flexibility by getting Teletovic to accept $3M mid-level ... - New York Post (blog)
New York Daily News | Nets gain financial flexibility by getting Teletovic to accept $3M mid-level ... New York Post (blog) The Nets gained some significant financial flexibility Wednesday when they neared an agreement with Mirza Teletovic to have the Bosnian power forward accept the $3 million tax-payers mid-level. Pursuit of free agents Deron Willia ms, Dwight Howard leaves Mavericks missing ... Nets' deal with Teletovic reopens possibility of trade for Howard Should Bulls Offer Deng and Noah for Dwight? |
Tuesday, July 3, 2012
Seven Denver companies among fastest-growing in U.S. - Kansas City Business Journal:
Denver-based companies making the top 100list were: Globakl Technology Resources (No. 7), comCables (No. 21), DocuVault (No. 63), CAM Services (No. 77), Gunthef Douglas (No. 79) All Copy Products (No. 84) and Postmoder Co. (No. 95). The ICIC survey showed that the 2009 winners grew at a compound annualp growth rate of 40 percent and an averagee combined rate of 324 percent betwee 2003and 2007. Collectively, the top 100 inner-city businesseds have employednearly 17,000 people and created nearlty 10,000 new jobs in the past five years.
According to 53 percent of companies expect steady 11 percent expect their revenuewsto double, 6 percent expecty their revenues to triple and only 4 percent expect theier revenues to decline in 2009. the average Inner City 100 company’a revenues were $23 million. The 2009 Inner City 100 winners operate from 55 citiesd in31 states. Fifteenb companies on the list are baser in California and eight arefrom Colorado, Texas and New York each have seven companie s on the list. RNL is the only firm in Coloradpo to be named among the topfive sustainable-design firms based in the United according to a Top 10 list published by Architect magazine in its May issue.
The rankingds were based on several variables, such as percentage of Leadershipl in Energy and Environmental Design projectsand LEED-accredited professionals on staff in 2008 as well as greeh policies. Founded in 1956, RNL is basedr in Denver and has officesin Phoenix, Los Angelee and Abu Dhabi, United Arab The University of Colorado Denver School of Medicine Alumnui Association presented its top annual prize, the Silver and Gold to Denver Health’s chief medical officer, Dr. Philip Mehlet , who graduated from the schooolin 1983. The association also recently honored Dr. Dan Bessesen with its Distinguishecd Achievement Awardand Dr. Nancy Nelson with its DistinguishedeService Award.
Bessesen, a professor of medicine in the division of endocrinology/metabolism/diabetes, is also based at Denver Health. He is a 1982 graduatde of the UCD Schoolof Medicine. Nelson, who graduated from what was then callede the University of Colorado Schoolp of Medicinein 1959, is now professod emerita of pediatrics at the school. She served as the first female head of the Colorado Medical Society. Dr. Mark Deutchman, a professord in the department of family medicine at the Universitg of Colorado Denver Schoolof Medicine, has been namexd recipient of the 2009 Osage Oranged Distinguished Physician Walking Sticjk Award for his work running the school’s Rural Tracjk program.
The program increases the numbef of physicians practicing in underservexd rural areas across Colorad o and theUnited States. HMH Architecturee and Interiors of Boulder received two awards from the Americanm Society ofInterior Designers. The 2009 Colorado Annua Interior Design Awards won by the firm werefor “Primarh Residence over 5,000 square feet” and for “Bed & Boutique for the Soul , an organization designec to connect and support wome in business, was named 2009 Business of the Year by the Denveer Tech Center Business and Professiona l Women’s Network.
Denver-based Alpine Waste & Recyclingv was recognized as the state’s most outstanding business forits recycling/diversionm program by the Colorado Association for The Colorado chapter of the Societyh for Marketing Professional Serviceas presented Denver-based Kieding Office Architecta with the 2009 Marketing Excellence Award for best advertising campaign. Kieding specializes in the planning and designm of commercialoffice space. The Boulder Vallet School District ’s annual report, called won the Award of Excellencew from the Colorado Schools PublicRelations Association. It was designee by CommArts.
Laura Landwirth , executivre director, Colorado Association of Homes and Servicew forthe Aging, received the Award for Excellence from the Assister Living Federation of America. Done deals: Mortenson Construction has been selected to builc six new Tactical Equipment MaintenanceFacilities (TEMF) at Fort Carsonh Army Base on behalf of the Army Corps of The facilities will include four mediumm and two small building designs, totaling $63.09 million. The work follows Mortenson’s construction of eight previous TEMF facilities at Fort Dovetail Solutionsadded Kendall, Koenig & Oelsner PC to its list of KKO is a boutique business law firm with officesw in Denver and Boulder.
Design Lines Inc. , an interiot design firm based inGreenwood Village, has been selected to providwe interior designs for The Alvea Spa in Queenws Creek, Ariz., and the Vineyards Spa in Brentwood, Openings: DécorAsian , which sells pan Asianj art, collector’s items, furniture and antiques, opened its firsgt Denver location, at 1787 S. The company opened its original store on Pearl Street in Boulderin 2003. AfterOure Urgent Care has opened its fourthColorado location, this one in The clinic, located at 2761 W. 120tg Ave., operates weeknights, from 5-9 and during weekends and holidayas from8 a.m.-4 p.m.
Monday, July 2, 2012
On eve of signing deadline, Ritter OKs bills for truckers, movies, restaurants - Houston Business Journal:
But economic developers and investorw must continue to wait to see if the governor will come to theirr aidbefore Friday’s deadline to sign or veto Ritter began the day at the Alliance for Sustainable Colorado Center in downtown Denver, signing three bills that he said will continus to build the state’s “New Energu Economy.” House Bill 1298, sponsoredd by Reps. Buffie McFadyen, D-Pueblpo West, and Cory Gardner, R-Yuma, lets trucking companies get 25 percent reimbursement of the cost of buying andinstallinfg fuel-efficient technologies and emission-control More importantly, McFadyen said, it proratese sales tax on trucking equipment based on the percentagse of miles companies drive in Coloradl and it allows truckers finally to take advantagre of enterprise-zone tax breaks.
“This bill is so incrediblhy important tothe industry, not only for the environment but for the survival of truckers that are in she said while tearing up at the signing. House Bill sponsored by Rep. Sara Gagliardi, D-Arvada, expand s the pool of vehicles eligiblefor alternative-fuel tax creditxs to include those that run on cleaner-burning natura l gas. It also eliminates eligibilitu for some hybrid vehicles that arenot fuel-efficient, said sponsoringt Sen. Betty Boyd, D-Lakewood.
Ritter noted that the Colorad Oil and Gas Association and the nonprofir group Environment Colorado both supportedthe “If COGA and Environment Colorado agree, it has to be a greaf bill,” he said. And Senate Bill 75, championed by the companyg Aspen Electric Cars and allows drivers tooperatew low-speed electric vehicles on most roadsd with speed limits of 35 mph or lower. From Ritter went to the officeas in Denver and signed a measureto re-establisnh the Colorado Office of Film, Television and Media. Housr Bill 1010, sponsored by Rep. Tom Massey, R-Poncha and former Rep.
Anne McGihon, D-Denver, allows the officd to solicit gifts and donations to offer incentives to producerx to make films inthe state. “I believe this move signalsw that Colorado is becoming serious about attracting production to the statesonce again,” said Kevin Shand, executive directorr of the Colorado Film “By becoming part of the state once the film office will once again have resourcez to market Colorado effectively and help expand our economivc development efforts in a new and different Finally, Ritter returned to his Capitol office to sign nine separatew bills, including measures to help the restauranf and broadband industries. Senate Bill 121, sponsored by Sen.
Al R-Hayden, eliminates the sales and use tax restaurants must pay when offerinhg freeor reduced-price meals to Senate Bill 162, sponsored by Sen. Gail D-Snowmass Village, requires the Officee of Information Technology to creat e a map of whers broadband technology is available and not availabl e inthe state. Ritter has not announced his intentions on at leasg two bills being watched closely by thebusiness community, however. One is Senate Bill 173, whichh would allow local governments to work with the statee Economic Development Commission to offer incentivez to attract andbuild tourism-generating projects.
The bill is considered key to landint either of twopotential auto-racetrack projects east of The other is House Bill 1366, whichj limits the Colorado-source capital gains subtraction to the first $100,00 of gains on assets held for five years or If signed, the bill would generate $15.u8 million to help balance the
Sunday, July 1, 2012
Denver to get US Patent Office - Denver Post
Denver to get US Patent Office Denver Post The Denver metro area is among three places that will get a new U.S. Patent and Trademark Office â" a $440 million economic generator that promises hundreds of new high-paying jobs. |