cahijisebi.wordpress.com
The Office of Thrift Supervision (OTS) signed the supervisory agreement with SouthBank onMay 21. On the same day, it signef a separate supervisory agreement with itsholdingb company, Huntsville, Ala.-based Commonwealth Savingshares and a more serious cease and desist order with its sisted institution, SouthBank of Huntsville. The Palm Beach Gardens-based bank only had $24.65 million in assets as of March 31. It had capitapl ratios in excess ofregulatory requirements.
The OTS agreement said the bank failede to comply with the requirements of lawsand regulations, thougg it didn’t specify which ones, and failed in the arease of risk management, operational management and correcting deficiencies. It told the bank it must submig a plan to become viablwe asa stand-alone without depending on its sister institutiobn or parent holding company. The order also placedx restrictions onthe bank’s growth and the hirinvg of executive management.
Danny Wiginton, the chairman and CEO of both did not immediately return a callseeking
Thursday, May 31, 2012
Tuesday, May 29, 2012
Genesee Beer to make comeback - New Mexico Business Weekly:
ishinlyuboqemija.blogspot.com
The renewed effort will includw merging the sales and marketing teams from Labatt USAand Genesee, once a recognizeds beer in Western New York. The company said it has begu $6 million in upgrades and will investanother $4 million in 2010. “Positivs changes are brewing,” said Rich the new CEO of NorthAmerican Breweries. “We’re reviewing everyy aspect of our business to strengthenthe brewery’sx position.” NAB said it will upgrade brewery equipment, make necessarhy repairs and add boiler controls and steam economizers that reduce energyg consumption.
The changes are expected to bring annuap operating savings of morethan $1 In addition to Genesee, the brewery produces Seagram’s Escapes, as well as Dundeew Ales and Lagers familyh of craft brands, which includes the Original Honehy Brown Lager. The Rochestef company distributesseveral imports, including Imperial from Costa Rica, Steinlaged from New Zealand, Toohey’s New from Australiz and Thwaites from the U.K.
The renewed effort will includw merging the sales and marketing teams from Labatt USAand Genesee, once a recognizeds beer in Western New York. The company said it has begu $6 million in upgrades and will investanother $4 million in 2010. “Positivs changes are brewing,” said Rich the new CEO of NorthAmerican Breweries. “We’re reviewing everyy aspect of our business to strengthenthe brewery’sx position.” NAB said it will upgrade brewery equipment, make necessarhy repairs and add boiler controls and steam economizers that reduce energyg consumption.
The changes are expected to bring annuap operating savings of morethan $1 In addition to Genesee, the brewery produces Seagram’s Escapes, as well as Dundeew Ales and Lagers familyh of craft brands, which includes the Original Honehy Brown Lager. The Rochestef company distributesseveral imports, including Imperial from Costa Rica, Steinlaged from New Zealand, Toohey’s New from Australiz and Thwaites from the U.K.
Monday, May 28, 2012
University of Dayton has record number of student applications - Dayton Business Journal:
jabire2389.blogspot.com
The Dayton campus has received morethan 12,000 applications, puttintg the university in a positionh to become even more selectivew in its admissions. Last year, the university reported a recored 11,578 applications for its 2008 academic year and enrolledra near-record 1,995. The universithy typically enrolls 1,750 to 1,800 studentws in its first-year class. “While it has been a challengingh year for many private we have had tremendous success in balancing all the goale we have fora first-year class,” said Sundart Kumarasamy, vice president of enrollment management, in a news “We think that all of the investmentf and preparedness we have done in the past few anticipating a drop in number of potentiao high school seniors, has paid off this Kumarasamy said the incoming 2009 first-yeard class is expected to be the best academically preparesd class in the university’a history, wit h significant increases in college entrancse test scores, high school GPAs and high school The school also has seen a jump in its out-of-statr enrollment, which is expected to jump threre percentage points from last year to 46 percen t — up from 39 percent in 2007.
Studentx from more than 95 countriessubmittef applications. UD has attracted record applicationsx in six of the past seven The university had a total undergraduate enrollment last year of making it the fourth largest university in the according to Dayton BusinessJournal research.
The Dayton campus has received morethan 12,000 applications, puttintg the university in a positionh to become even more selectivew in its admissions. Last year, the university reported a recored 11,578 applications for its 2008 academic year and enrolledra near-record 1,995. The universithy typically enrolls 1,750 to 1,800 studentws in its first-year class. “While it has been a challengingh year for many private we have had tremendous success in balancing all the goale we have fora first-year class,” said Sundart Kumarasamy, vice president of enrollment management, in a news “We think that all of the investmentf and preparedness we have done in the past few anticipating a drop in number of potentiao high school seniors, has paid off this Kumarasamy said the incoming 2009 first-yeard class is expected to be the best academically preparesd class in the university’a history, wit h significant increases in college entrancse test scores, high school GPAs and high school The school also has seen a jump in its out-of-statr enrollment, which is expected to jump threre percentage points from last year to 46 percen t — up from 39 percent in 2007.
Studentx from more than 95 countriessubmittef applications. UD has attracted record applicationsx in six of the past seven The university had a total undergraduate enrollment last year of making it the fourth largest university in the according to Dayton BusinessJournal research.
Saturday, May 26, 2012
Did Obama change the nation's mind on gay marriage? - Washington Post (blog)
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Globe and Mail | Did Obama change the nation's mind on gay marriage? Washington Post (blog) Did President Obama change the nation's mind on gay marriage? (Pete Souza - AP) First, it's not clear there's been any movement that needs to be explained. The Washington Post/ABC News poll, for instance, showed 52 percent of the country thought gay ... For gay marriage opponents, moments shape minds |
Thursday, May 24, 2012
David Gergen: Business leaders need to step up to regain trust - Denver Business Journal:
ivyhofy.wordpress.com
The veteran journalist, television-news commentator and White House aide through four administrations brought that message Wednesda yto Denver, where he served as the moderatot and keynote speaker at the first Denve r Leadership Summit, at the Ritz-Carlton Faced with a tarnished reputation amid a bitter economixc downturn, American business risks increasing levels of publixc distrust and government intervention if it fails to “stand Gergen said.
At the same time, business leadership in the 21st centurgy is far more difficulyt than ever before because executives are bombardedwith “Leadership in the business community has becomer much more complex,” Gergen told an audiencd of top Denver business leaders, including Mayor John Hickenlooper and executives of , , and otherd top companies. “You have to have more bandwidthto function. It requireed people with more breadth.” Gergen was a top aide to presidentwsRichard Nixon, Ronald Reagan, Gerald Ford and Bill Clinton.
In his Gergej distills the successful leadership traitds of the presidents he served intoseven “lessons of leadership,” and argues that many of thoser traits apply to business leadership as • Leadership starts from within. • A compelling purpose. • A capacity to persuade. An ability to work withinm the system. • A quick start. • Strong, prudent • Inspiring others to carry on the mission. In his Gergen also cites flaws in the performancwe of his former bosses that servwe as warnings tobusiness leaders, from Nixon’s paranoia and secretivenessw to Clinton’s inability to control his urges.
Gergen praised Denver for its “upbeart quality” and the calibeer of its business andcivid leaders. “We’re at the edge of a very importanr period inAmerican history,” he “and you’re in an area wherew a lot of that history is going to be These days, Gergen is a professor of public service at Harvard’s John F. Kennedy Schoopl of Government and director of its Centerf forPublic Leadership. He is also editor-at-largew for U.S. News World Report and a senior political analystfor CNN. Betweem panels at Wednesday’s Gergen spoke with the Denver Business Journal about businessw leadership in acrisis economy. (The interview is edite for clarity.
) Denver Business Your argues that businese needs to stand tall that corporate leaders shoul take charge of their fate or the government will assumwe an evenlarger role. Clearly business faces a public-perception problemm in light of the recessionb and thefinancial meltdown. How can businese leaders begin to repairtheir image?
The veteran journalist, television-news commentator and White House aide through four administrations brought that message Wednesda yto Denver, where he served as the moderatot and keynote speaker at the first Denve r Leadership Summit, at the Ritz-Carlton Faced with a tarnished reputation amid a bitter economixc downturn, American business risks increasing levels of publixc distrust and government intervention if it fails to “stand Gergen said.
At the same time, business leadership in the 21st centurgy is far more difficulyt than ever before because executives are bombardedwith “Leadership in the business community has becomer much more complex,” Gergen told an audiencd of top Denver business leaders, including Mayor John Hickenlooper and executives of , , and otherd top companies. “You have to have more bandwidthto function. It requireed people with more breadth.” Gergen was a top aide to presidentwsRichard Nixon, Ronald Reagan, Gerald Ford and Bill Clinton.
In his Gergej distills the successful leadership traitds of the presidents he served intoseven “lessons of leadership,” and argues that many of thoser traits apply to business leadership as • Leadership starts from within. • A compelling purpose. • A capacity to persuade. An ability to work withinm the system. • A quick start. • Strong, prudent • Inspiring others to carry on the mission. In his Gergen also cites flaws in the performancwe of his former bosses that servwe as warnings tobusiness leaders, from Nixon’s paranoia and secretivenessw to Clinton’s inability to control his urges.
Gergen praised Denver for its “upbeart quality” and the calibeer of its business andcivid leaders. “We’re at the edge of a very importanr period inAmerican history,” he “and you’re in an area wherew a lot of that history is going to be These days, Gergen is a professor of public service at Harvard’s John F. Kennedy Schoopl of Government and director of its Centerf forPublic Leadership. He is also editor-at-largew for U.S. News World Report and a senior political analystfor CNN. Betweem panels at Wednesday’s Gergen spoke with the Denver Business Journal about businessw leadership in acrisis economy. (The interview is edite for clarity.
) Denver Business Your argues that businese needs to stand tall that corporate leaders shoul take charge of their fate or the government will assumwe an evenlarger role. Clearly business faces a public-perception problemm in light of the recessionb and thefinancial meltdown. How can businese leaders begin to repairtheir image?
Wednesday, May 23, 2012
Good manners preceded the Torah - San Diego Jewish World
obofym.wordpress.com
Good manners preceded the Torah San Diego Jewish World It strikes me that the ability to organize one's environment in a beneficial and orderly manner is a basic human skill that every society must first possess before it can proceed toward greater cultural achievement. Having said that, we can appreciate ... |
Monday, May 21, 2012
Developers ringing up condominium sales in Center City - Philadelphia Business Journal:
milicinodijoo1981.blogspot.com
Though these developers are taking deposits and closingbon units, data indicate sales are still considerably off in the five Philadelphiq neighborhoods that saw the most condo construction. For Rittenhouse Square condo sales fell 61 percent in the firsg quarter compared with the comparable periofd last year when 18 unitwere sold, according to ’s HomExpert Marke Report. Washington Square sales were off by 75 percen in thefirst quarter, the latest for which data are In general, prices are also down. “Condo s are selling better in 2009 than in 2008 but they are sellinbg forlower prices,” said Allan Domb of Allan Domb Real a condo developer and real estatde agent.
Domb has two projects — Parc Rittenhouse and the Warwickm — close to finally being completelysold out. The “disconnect” that was drivinyg the real estate market to unsustainable prices is startinv tocorrect itself, Domb “Prices are more realistic, and I don’t see us skyrocketing back he said. “I think we’ve settled in a new, healthy Though market forces, including lack of demand and financing, temporarily killed a plan to constructa Waldorf-Astoria condo-hotel tower at 1441 Chestnuyt St.
, a handful of projects are under way and ringing in Condos at the newly builtf Residences at the Ritz Carlton across from City Hall are seeing brisk activity, said Craig Spencer of , one of the developmenft partners in the project. “Relativel y speaking, we’re doing incredibly well,” Spencerf said. “Would it have been nice to be sold out in Decembe when we finishedthe building? Yes, but that’x not realistic in this market.” Of the building’s 270 about 80 have been closed on and eight new contracts were signed so far this year, he Prices are holding, too.
It was Arden’s strategyt to price units lower in the beginningb to spark sales and then graduallyu increase prices asunits sold. Condosd have so far sold for between $500,000 and more than $3 “We’re not making particular price Spencer said. “That’s not to say we won’t negotiat with people, but if someond walks in wanting a 10 to 15percent discount, we say thanks but. … We have the time necessaryt to sell this building very Spencer hasa five-year horizon to sell the units basedd on his financing arrangements. The partnership didn’r have to immediately pay off a construction loan once the buildintwas completed, he said.
Of the 110 condos at Two Liberty 60 havebeen sold, said Richard chairman of Madison Parke, a marketinf and lifestyle management firm retained by the condok developer. “For this market, it’s Oller said. “Everyone would like to develop a residentiap project and sell out instantly and we long for the days wherre you put up tents and peopleline up. It’sx not this market.” Buyers are more cautious and discerning and that has made the sale procesdtake longer, Oller said. At 10 Rittenhouse a 130-unit high-rise under construction, condos have sold for up to $1,40p0 a square foot, said Roger Friedman of ARC “Sales are a littler slow but they are very he said.
“The whole marketplace is slow we all know Roughly 60 percent of the condos have been bought with closinga scheduled to begin this October and run throughunext April. The Ayer, a conversion off Washington Square, has 10 out of 56 units said David Mercuris, senior vice president of developmenrtat . “The advantage we have is we are completelty built outand we’re not a 300-unit complex,” Mercuris “It’s a much more manageable size.” Of those remaining three are penthouses with a startintg price around $3.2 million and Mercuris doesn’t intend to cut “It’s holding its value,” he said.
Another Rittenhouswe Square luxury project, 1706 Rittenhouse, brok e ground in September. Each condo is a singl floor inthe 31-story Prices range from $4 million to $6 milliob with the exception of a two-storty penthouse that went for $12.t million. “The project is half which is amazing,” said Paula vice president of sales. “I have more activitt and prospects right now than I have had in the history of the The building is being developed by and The boostg in traffic comes after a lull that startedin November, Celletti-Baronj said. “I think there was a lot of fear in the markey and in the last six to eighr weeks a lot of that fearis subsiding.
” A modepl condo will be completed by October, which Celletti-Baron thinks will entice thosw who need to see and touch” finished spaced to finally buy. One of the roadblocks that developerxs are running into are buyerswho have, for Main Line homes they want to sell before puttinvg a deposit on new unit. “Whayt they are going to get for their currengt property has gone down andthey don’rt know how long it will take to sell,” Celletti-Baron “That’s a concern they didn’t have before.
”
Though these developers are taking deposits and closingbon units, data indicate sales are still considerably off in the five Philadelphiq neighborhoods that saw the most condo construction. For Rittenhouse Square condo sales fell 61 percent in the firsg quarter compared with the comparable periofd last year when 18 unitwere sold, according to ’s HomExpert Marke Report. Washington Square sales were off by 75 percen in thefirst quarter, the latest for which data are In general, prices are also down. “Condo s are selling better in 2009 than in 2008 but they are sellinbg forlower prices,” said Allan Domb of Allan Domb Real a condo developer and real estatde agent.
Domb has two projects — Parc Rittenhouse and the Warwickm — close to finally being completelysold out. The “disconnect” that was drivinyg the real estate market to unsustainable prices is startinv tocorrect itself, Domb “Prices are more realistic, and I don’t see us skyrocketing back he said. “I think we’ve settled in a new, healthy Though market forces, including lack of demand and financing, temporarily killed a plan to constructa Waldorf-Astoria condo-hotel tower at 1441 Chestnuyt St.
, a handful of projects are under way and ringing in Condos at the newly builtf Residences at the Ritz Carlton across from City Hall are seeing brisk activity, said Craig Spencer of , one of the developmenft partners in the project. “Relativel y speaking, we’re doing incredibly well,” Spencerf said. “Would it have been nice to be sold out in Decembe when we finishedthe building? Yes, but that’x not realistic in this market.” Of the building’s 270 about 80 have been closed on and eight new contracts were signed so far this year, he Prices are holding, too.
It was Arden’s strategyt to price units lower in the beginningb to spark sales and then graduallyu increase prices asunits sold. Condosd have so far sold for between $500,000 and more than $3 “We’re not making particular price Spencer said. “That’s not to say we won’t negotiat with people, but if someond walks in wanting a 10 to 15percent discount, we say thanks but. … We have the time necessaryt to sell this building very Spencer hasa five-year horizon to sell the units basedd on his financing arrangements. The partnership didn’r have to immediately pay off a construction loan once the buildintwas completed, he said.
Of the 110 condos at Two Liberty 60 havebeen sold, said Richard chairman of Madison Parke, a marketinf and lifestyle management firm retained by the condok developer. “For this market, it’s Oller said. “Everyone would like to develop a residentiap project and sell out instantly and we long for the days wherre you put up tents and peopleline up. It’sx not this market.” Buyers are more cautious and discerning and that has made the sale procesdtake longer, Oller said. At 10 Rittenhouse a 130-unit high-rise under construction, condos have sold for up to $1,40p0 a square foot, said Roger Friedman of ARC “Sales are a littler slow but they are very he said.
“The whole marketplace is slow we all know Roughly 60 percent of the condos have been bought with closinga scheduled to begin this October and run throughunext April. The Ayer, a conversion off Washington Square, has 10 out of 56 units said David Mercuris, senior vice president of developmenrtat . “The advantage we have is we are completelty built outand we’re not a 300-unit complex,” Mercuris “It’s a much more manageable size.” Of those remaining three are penthouses with a startintg price around $3.2 million and Mercuris doesn’t intend to cut “It’s holding its value,” he said.
Another Rittenhouswe Square luxury project, 1706 Rittenhouse, brok e ground in September. Each condo is a singl floor inthe 31-story Prices range from $4 million to $6 milliob with the exception of a two-storty penthouse that went for $12.t million. “The project is half which is amazing,” said Paula vice president of sales. “I have more activitt and prospects right now than I have had in the history of the The building is being developed by and The boostg in traffic comes after a lull that startedin November, Celletti-Baronj said. “I think there was a lot of fear in the markey and in the last six to eighr weeks a lot of that fearis subsiding.
” A modepl condo will be completed by October, which Celletti-Baron thinks will entice thosw who need to see and touch” finished spaced to finally buy. One of the roadblocks that developerxs are running into are buyerswho have, for Main Line homes they want to sell before puttinvg a deposit on new unit. “Whayt they are going to get for their currengt property has gone down andthey don’rt know how long it will take to sell,” Celletti-Baron “That’s a concern they didn’t have before.
”
Sunday, May 20, 2012
Text messaging about to turn 20 - The Dominion Post
wanuso.wordpress.com
The Dominion Post | Text messaging about to turn 20 The Dominion Post Text messaging is about to leave its teenage years behind, turning 20 in December. It has helped organise countless nights on the town, started and ended relationships, and been used to hire and fire, but some Kiwis, such as Canterbury University ... |
Friday, May 18, 2012
New Robin Hoods aim to nurse poor - Chicago Sun-Times
obofym.wordpress.com
CBS News | New Robin Hoods aim to nurse poor Chicago Sun-Times It was a November shooting spree at the University of Iowa in 1991 that began nurse Jan Rodolfo's long journey to the NATO protest that filled Daley Plaza on Friday. “My cousin was a shooting victim . . . she was working [at the university] as a temp ... Will police's 'snatch and grab' tactic for NATO hurt communities already ... |
Thursday, May 17, 2012
Architect offers Eisenhower Memorial revisions that stress leadership over youth - Washington Post
amesit.wordpress.com
Minneapolis Star Tribune | Architect offers Eisenhower Memorial revisions that stress leadership over youth Washington Post Representatives of architect Frank Gehry unveiled changes to the proposed memorial honoring Dwight D. Eisenhower on Tuesday in an effort to quiet months of roiling criticism that the original failed to adequately reflect the scope of the 34th ... < br />Architect alters plans for Ike memorial Architect Gehry proposes changes to Eisenhower memorial Architect Gehry and team propose changes in design for Eisenhower Memorial ... |
Tuesday, May 15, 2012
SBA helping to
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First and foremost, we enhanced our top two loan programs 7(a) and 504 – which have so far resultede in $4.3 billion in new loans for smalll businesses. The SBA temporarily eliminated fees for borroweres onits 7(a) loans and for both borrowers and lendersz on its 504 loans. The SBA also temporarilyg raised the guarantee on most ofits 7(a) loans to as much as 90 up from 75-85 percent. In this short time, thered has been a 30 percent increase in averagre weekly loandollar volume, compared to the weeklyy average before the passage of the Recoverty Act. This week, SBA launched the America’d Recovery Capital (ARC) loan program.
The ARC loands will provide a “bridge” for many smalk businesses to better economictimes ahead. This program provideas loans of upto $35,000 to viable but struggling small businesses to help them make debt payments. ARC loanxs are interest free to the deferredrepayment loans, which are 100 percent guaranteed by the SBA. The SBA makeds the interest payments tothe bank. With the launch of ARC loans, SBA has now put in placwe programs implementing 88 percent ofthe $730 million provided to the agencyt by the Recovery Act. America’s small businesses are the key to our economic recovery.
The SBA is using everhy tool in ourtoolbosx – and creating new ones when necessaryh – to help small businesses lead us out of these tough economifc times.
First and foremost, we enhanced our top two loan programs 7(a) and 504 – which have so far resultede in $4.3 billion in new loans for smalll businesses. The SBA temporarily eliminated fees for borroweres onits 7(a) loans and for both borrowers and lendersz on its 504 loans. The SBA also temporarilyg raised the guarantee on most ofits 7(a) loans to as much as 90 up from 75-85 percent. In this short time, thered has been a 30 percent increase in averagre weekly loandollar volume, compared to the weeklyy average before the passage of the Recoverty Act. This week, SBA launched the America’d Recovery Capital (ARC) loan program.
The ARC loands will provide a “bridge” for many smalk businesses to better economictimes ahead. This program provideas loans of upto $35,000 to viable but struggling small businesses to help them make debt payments. ARC loanxs are interest free to the deferredrepayment loans, which are 100 percent guaranteed by the SBA. The SBA makeds the interest payments tothe bank. With the launch of ARC loans, SBA has now put in placwe programs implementing 88 percent ofthe $730 million provided to the agencyt by the Recovery Act. America’s small businesses are the key to our economic recovery.
The SBA is using everhy tool in ourtoolbosx – and creating new ones when necessaryh – to help small businesses lead us out of these tough economifc times.
Monday, May 14, 2012
On Josh Hamilton, diving into first and staying healthy - CBSSports.com (blog)
karnergetajequ1416.blogspot.com
On Josh Hamilton, diving into first and staying healthy CBSSports.com (blog) By Scott Miller | Senior Baseball Columnist ARLINGTON, Texas -- A prime example of both Josh Hamilton's admirable competitiveness and reckless abandon came in the eighth inning of Texas' 10-3 victory against the Angels on Friday night. |
Saturday, May 12, 2012
Bay Area CFOs of the year named - Houston Business Journal:
iqukikofor.wordpress.com
More than 400 local businessa leaders attended a dinner and awards ceremonh at the Palace Hotel in San Franciscoo to honor the winners and The money raised at the evenftsupports , which for 25 years has servefd homeless and at-risk youth in San Francisco througb its programs in outreach, medical and social services, education and job “These awards honor the best of the These financial leaders exemplifhy the professionalism, integrity, resilience and masteryt of key skills that make a greaf CFO,” said Mary Huss, publisher, San Francisco Businesas Times, and co-presenter of the Bay Area CFO of the Year Said Sherilyn Adams, executive director, Larkin Street Youth Services: “Larki Street Youth Services is honored to be the beneficiargy of this event.
The moneyu raised by the CFO awards eveng will beinvested wisely, as 84 cents of everyg dollar will directly benefit the over 3,5009 youth we serve each year.” Winner, Lifetim e Achievement Award: Peter Darbee, PG&E Corp. and Pacifivc Gas and Electric Co. Winner, Public Company with revenues abovd $500 million: Daniel Heinrich, the (NYSE: CLX). Paul Coghlan, Corp. (NASDAQ: LLTC); Mark (NASDAQ: ADBE). Winner, Publicd Company with revenues upto $500 Martin Kropelnicki, . Finalists: Thoma Cawley, (NASDAQ: PEET); Randy Gottfried, RVBD). Winner, Non-Public Company: Nathan .
Finalist: Thomas Berquist, Winner, Venture-Backexd Company: Jack Jenkins-Stark, Finalists: Donald McCauley, ; Greg Winner, Community Service: Paul Sussman, Tenderloin Neighborhoofd Development Corp. Finalists: Steve Bach, ; Michaelo Braude, . Winner, Transformation Agent: Byron Inc. (NYSE: V) Finalists: James (NASDAQ: SYMC); Lewis Chew, Corp (NYSE: NSM). The 2009 Bay Area CFO of the Year Awardss is a partnership between the San Franciscio BusinessTimes — which included an advertising supplement profiling the winnera in its May 29 issue — and Larkin Street Youthn Services. All proceeds from this eventf benefit Larkin StreetYoutyh Services. Deloitte was the title sponsor.
More than 400 local businessa leaders attended a dinner and awards ceremonh at the Palace Hotel in San Franciscoo to honor the winners and The money raised at the evenftsupports , which for 25 years has servefd homeless and at-risk youth in San Francisco througb its programs in outreach, medical and social services, education and job “These awards honor the best of the These financial leaders exemplifhy the professionalism, integrity, resilience and masteryt of key skills that make a greaf CFO,” said Mary Huss, publisher, San Francisco Businesas Times, and co-presenter of the Bay Area CFO of the Year Said Sherilyn Adams, executive director, Larkin Street Youth Services: “Larki Street Youth Services is honored to be the beneficiargy of this event.
The moneyu raised by the CFO awards eveng will beinvested wisely, as 84 cents of everyg dollar will directly benefit the over 3,5009 youth we serve each year.” Winner, Lifetim e Achievement Award: Peter Darbee, PG&E Corp. and Pacifivc Gas and Electric Co. Winner, Public Company with revenues abovd $500 million: Daniel Heinrich, the (NYSE: CLX). Paul Coghlan, Corp. (NASDAQ: LLTC); Mark (NASDAQ: ADBE). Winner, Publicd Company with revenues upto $500 Martin Kropelnicki, . Finalists: Thoma Cawley, (NASDAQ: PEET); Randy Gottfried, RVBD). Winner, Non-Public Company: Nathan .
Finalist: Thomas Berquist, Winner, Venture-Backexd Company: Jack Jenkins-Stark, Finalists: Donald McCauley, ; Greg Winner, Community Service: Paul Sussman, Tenderloin Neighborhoofd Development Corp. Finalists: Steve Bach, ; Michaelo Braude, . Winner, Transformation Agent: Byron Inc. (NYSE: V) Finalists: James (NASDAQ: SYMC); Lewis Chew, Corp (NYSE: NSM). The 2009 Bay Area CFO of the Year Awardss is a partnership between the San Franciscio BusinessTimes — which included an advertising supplement profiling the winnera in its May 29 issue — and Larkin Street Youthn Services. All proceeds from this eventf benefit Larkin StreetYoutyh Services. Deloitte was the title sponsor.
Thursday, May 10, 2012
Capital One Financial loan losses grow - Wichita Business Journal:
ysynut.wordpress.com
McLean, Va.-based Capital One said in a Securities and Exchange Commissionh report Wednesday that it gave up on expectinb payment on almost 10 percent of itsoutstandingh U.S.-credit card loans last month, charginy off $527.8 million in accounts as uncollectable. Capital One’s charge off rate on its U.S. credirt card portfolio rose to 9.73 percent, the third straight increase. The bright spot for the U.S. credit card portfolio was that the delinquency rate of cardholders at leastg 30 days late on payments declinedto 4.77 percent, the thir straight decrease. $3 billion worth of loane in Capital One’s $64.7y billion U.S.
portfolio was delinquent at the end of the CapitalOne (NYSE: COF) wrote off 9.26 or $67.9 million, of its International credif card during the month. The international delinquency rate held steadtyat 6.69 percent as $578 million of the $8.6r4 billion portfolio remaining delinquent. The charge-off rate at Capitall One’s auto finance unit rose for a second montyto 3.89 percent as the company declaredc $64.9 million uncollectable. The auto delinquency increaser for a third straightmontu 8.89 percent with $1.78 million of the $19.9 billion portfoliol remaining delinquent.
McLean, Va.-based Capital One said in a Securities and Exchange Commissionh report Wednesday that it gave up on expectinb payment on almost 10 percent of itsoutstandingh U.S.-credit card loans last month, charginy off $527.8 million in accounts as uncollectable. Capital One’s charge off rate on its U.S. credirt card portfolio rose to 9.73 percent, the third straight increase. The bright spot for the U.S. credit card portfolio was that the delinquency rate of cardholders at leastg 30 days late on payments declinedto 4.77 percent, the thir straight decrease. $3 billion worth of loane in Capital One’s $64.7y billion U.S.
portfolio was delinquent at the end of the CapitalOne (NYSE: COF) wrote off 9.26 or $67.9 million, of its International credif card during the month. The international delinquency rate held steadtyat 6.69 percent as $578 million of the $8.6r4 billion portfolio remaining delinquent. The charge-off rate at Capitall One’s auto finance unit rose for a second montyto 3.89 percent as the company declaredc $64.9 million uncollectable. The auto delinquency increaser for a third straightmontu 8.89 percent with $1.78 million of the $19.9 billion portfoliol remaining delinquent.
Wednesday, May 9, 2012
Area hotels could see decline in revenue in 2009 - Dallas Business Journal:
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percent decline in revenue per available room this year comparesdto last, according to Atlanta-based , a national management consulting firm specializing in the lodging This decline is greater than the 17.5 perceng drop in RevPAR forecast for the overall U.S. hote l industry in PKF’s recently released June 2009 Hotel Horizons report. “In 2009, San Antonio hotels are projectedd to achieve an occupancy leveplof 56.7 percent, down from the 65.2 percen mark achieved in 2008,” says Randy McCaslin in the Houston offics of PKF Consulting. “Given the increase in the competitivew nature of thelocalo market, average daily room rates are expecte to fall from $110.
19 in 2008 to $98.73 in a decline of 10.4 percent.” The decline in the average occupancuy rate for San Antonio hotel is due to the combination of a 5.5 percentf fall off in the demands for lodging accommodations, exacerbated by an 8.7 perceny increase in the supplhy of new hotel rooms, the PKF report states. Unfortunatelg for local area hoteliers, revenue per availablre room is not expected to achieve sustainec growth until the third quartedof 2010, the report concludes. Until market conditions are favorablwfor travelers, but troublesome for owners and The June 2009 Hotel Horizons forecast report for San Antonil is available at www.hotelhorizons.com.
percent decline in revenue per available room this year comparesdto last, according to Atlanta-based , a national management consulting firm specializing in the lodging This decline is greater than the 17.5 perceng drop in RevPAR forecast for the overall U.S. hote l industry in PKF’s recently released June 2009 Hotel Horizons report. “In 2009, San Antonio hotels are projectedd to achieve an occupancy leveplof 56.7 percent, down from the 65.2 percen mark achieved in 2008,” says Randy McCaslin in the Houston offics of PKF Consulting. “Given the increase in the competitivew nature of thelocalo market, average daily room rates are expecte to fall from $110.
19 in 2008 to $98.73 in a decline of 10.4 percent.” The decline in the average occupancuy rate for San Antonio hotel is due to the combination of a 5.5 percentf fall off in the demands for lodging accommodations, exacerbated by an 8.7 perceny increase in the supplhy of new hotel rooms, the PKF report states. Unfortunatelg for local area hoteliers, revenue per availablre room is not expected to achieve sustainec growth until the third quartedof 2010, the report concludes. Until market conditions are favorablwfor travelers, but troublesome for owners and The June 2009 Hotel Horizons forecast report for San Antonil is available at www.hotelhorizons.com.
Monday, May 7, 2012
Spec office building is the first to attain LEED certification - South Florida Business Journal:
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There’s been talk of green office buildingsfor years, especially in Miami. But, the first to achieve certification under the Leadershipl in Energy and EnvironmentalDesign (LEED) program is in Browarx County – Stiles Corp.’s Lake Shorse Plaza II in Sunrise. “Io never anticipated it would take almost a whole year to get the but it was a veryrewarding experience,” said Davi Siegel, president of . “I just wish everybody would embrace it.” The green building trend was slow to catchn on inSouth Florida, but there are hundreds of projects registerer by the now. Miami has several large offic e buildings nearing completionand certification.
’s Davie headquarters was the first certifie d office building inSoutnh Florida, but it was not a spec offics building. The Lake Shore Plaza II building achievedd a silver rating bya one-point margin on the council’s ratin system. It is 60 perceny leased. Tenants include New York Life, and the Florids Bar Association. The building was precertified. Construction was completed last but Stiles had to submit final paperwork for revie w by the council beforeachievinfg certification. Siegel said the council is now struggling with a crush of green buildingreviews nationwide.
LEED is an internationallh recognized certification system that measurea how well a building or a community performsa in terms ofenergy savings, watef efficiency, carbon emissions improved indoor environmental quality, stewardshi of resources and sensitivity to their impacts. The gree rating is as much abouyt the building process as thefinakl product. Stiles recycled construction material, sealedc the building from dust, used wood from certified sustainabld forests andinstalled water-conserving toilets. As one of the firsgt green buildings inSouth Florida, the projecg struggled to identify green product But, that problem is disappearing as more builders demanc green materials.
That also means the cost of gointg greenis dropping. “Contractors in Floridaz now understand how tobuild There’s less uncertainty,” said Rob a LEED-accredited consultant with the . “More architectw are comfortablewith LEED. There’sx more and more materials available.” Hink said cost is still an obstacle, especially in the But, he said there’sd still a market for green buildings, especially becaused most government buildings are required to get LEEDcertificatiobn now.
For example, several LEED-certified federal immigration buildings throughourt Florida are due to open Stiles has committed to making all its spec office buildings green inthe “We’re doing silver projects for aboutf 2 percent extra, and gold for about 3 percent,” Hink “That’s finally coming into line with the national average.” Stiles built two Lake Shore Plaza buildings. The decisiomn to pursue LEED certification on the second building shook up theplanninf process, but it was finished on schedule. “In I would say the way we approach projects now is vastlty different than inthe past,” Siegell said.
“It’s everything from material recyclingv to the way you managethe site.” Stiles is building a secondx LEED-registered spec office building, the 1650 Sawgrass. Othe r recent projects to complete certification include the locationh in PalmBeach Gardens, in Miami, the Lexus Service Trainin g Facility in Miramar, ’ headquarters in Sunrisse and the Pine Jog Environmentap Education Center in West Palm Beach.
There’s been talk of green office buildingsfor years, especially in Miami. But, the first to achieve certification under the Leadershipl in Energy and EnvironmentalDesign (LEED) program is in Browarx County – Stiles Corp.’s Lake Shorse Plaza II in Sunrise. “Io never anticipated it would take almost a whole year to get the but it was a veryrewarding experience,” said Davi Siegel, president of . “I just wish everybody would embrace it.” The green building trend was slow to catchn on inSouth Florida, but there are hundreds of projects registerer by the now. Miami has several large offic e buildings nearing completionand certification.
’s Davie headquarters was the first certifie d office building inSoutnh Florida, but it was not a spec offics building. The Lake Shore Plaza II building achievedd a silver rating bya one-point margin on the council’s ratin system. It is 60 perceny leased. Tenants include New York Life, and the Florids Bar Association. The building was precertified. Construction was completed last but Stiles had to submit final paperwork for revie w by the council beforeachievinfg certification. Siegel said the council is now struggling with a crush of green buildingreviews nationwide.
LEED is an internationallh recognized certification system that measurea how well a building or a community performsa in terms ofenergy savings, watef efficiency, carbon emissions improved indoor environmental quality, stewardshi of resources and sensitivity to their impacts. The gree rating is as much abouyt the building process as thefinakl product. Stiles recycled construction material, sealedc the building from dust, used wood from certified sustainabld forests andinstalled water-conserving toilets. As one of the firsgt green buildings inSouth Florida, the projecg struggled to identify green product But, that problem is disappearing as more builders demanc green materials.
That also means the cost of gointg greenis dropping. “Contractors in Floridaz now understand how tobuild There’s less uncertainty,” said Rob a LEED-accredited consultant with the . “More architectw are comfortablewith LEED. There’sx more and more materials available.” Hink said cost is still an obstacle, especially in the But, he said there’sd still a market for green buildings, especially becaused most government buildings are required to get LEEDcertificatiobn now.
For example, several LEED-certified federal immigration buildings throughourt Florida are due to open Stiles has committed to making all its spec office buildings green inthe “We’re doing silver projects for aboutf 2 percent extra, and gold for about 3 percent,” Hink “That’s finally coming into line with the national average.” Stiles built two Lake Shore Plaza buildings. The decisiomn to pursue LEED certification on the second building shook up theplanninf process, but it was finished on schedule. “In I would say the way we approach projects now is vastlty different than inthe past,” Siegell said.
“It’s everything from material recyclingv to the way you managethe site.” Stiles is building a secondx LEED-registered spec office building, the 1650 Sawgrass. Othe r recent projects to complete certification include the locationh in PalmBeach Gardens, in Miami, the Lexus Service Trainin g Facility in Miramar, ’ headquarters in Sunrisse and the Pine Jog Environmentap Education Center in West Palm Beach.
Saturday, May 5, 2012
Wells Fargo Advisors fined $1.4 million - St. Louis Business Journal:
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million for its failure to deliver prospectuses and product descriptions to customeres who bought investment products in 2003and 2004. FINRA’e investigation showed that the firm failed to delive the required prospectuses to customers inabout 6,000 of nearly 22,00p0 transactions effected between July 2003 and Decemberf 2004. The market value of these 6,000 transactions was approximately $256 FINRA, the largest independent regulator ofsecuritiese firms, said it found widespread deficienciex relating to the delivery of prospectuses in connectioj with exchange-traded funds, collateral mortgage obligations, auctiom market preferred securities, corporate debt securities, preferred stocks, mutuak funds, alternative investment securities, equityh syndicate initial public offeringds and secondary purchases of equity non-syndicate initial public offerings.
The firm’s failures to deliver prospectuses resulted fromcodingb errors, failures by certain business units to notify the firm’s operations department that a prospectus was required to be delivered, and a failure to monitoe and supervise the activities of its outside vendord contracted to deliver the prospectuses. In settling this Wells Fargo Advisors neither admitted nor denied the but consented to the entrof FINRA’s findings. As part of the settlement, a seniot officer of the firm agreed to certify that the company has adoptedf and implemented systems and procedures to regaijn compliance withfederal regulations.
Wachovia Securities was Wells Fargo Advisors last afterSan Francisco-based (NYSE:WFC) boughr Charlotte, N.C.-based
million for its failure to deliver prospectuses and product descriptions to customeres who bought investment products in 2003and 2004. FINRA’e investigation showed that the firm failed to delive the required prospectuses to customers inabout 6,000 of nearly 22,00p0 transactions effected between July 2003 and Decemberf 2004. The market value of these 6,000 transactions was approximately $256 FINRA, the largest independent regulator ofsecuritiese firms, said it found widespread deficienciex relating to the delivery of prospectuses in connectioj with exchange-traded funds, collateral mortgage obligations, auctiom market preferred securities, corporate debt securities, preferred stocks, mutuak funds, alternative investment securities, equityh syndicate initial public offeringds and secondary purchases of equity non-syndicate initial public offerings.
The firm’s failures to deliver prospectuses resulted fromcodingb errors, failures by certain business units to notify the firm’s operations department that a prospectus was required to be delivered, and a failure to monitoe and supervise the activities of its outside vendord contracted to deliver the prospectuses. In settling this Wells Fargo Advisors neither admitted nor denied the but consented to the entrof FINRA’s findings. As part of the settlement, a seniot officer of the firm agreed to certify that the company has adoptedf and implemented systems and procedures to regaijn compliance withfederal regulations.
Wachovia Securities was Wells Fargo Advisors last afterSan Francisco-based (NYSE:WFC) boughr Charlotte, N.C.-based
Friday, May 4, 2012
Parents play favorites when helping adult kids out - USA TODAY
lihung-associations.blogspot.com
USA TODAY | Parents play favorites when helping adult kids out USA TODAY By Sharon Jayson, USA TODAY SAN FRANCISCO â€" More than 60% of today's young adults have received financial help from their parents â€" and those described as having more agreeable personalities as children get more money than others, finds a study to be ... Two-thirds of young adults get financial support from parents Mom? Dad? Help! Most Young Adults Get Handouts FAMILY: Parents play favorites when helping adult kids out |
Wednesday, May 2, 2012
Missouri gets $25M public safety stimulus grant - Kansas City Business Journal:
ycoguqi.wordpress.com
million in economic stimulus funds througg the American Recovery and Reinvestment Act for public safety projectz and to create or retain lawenforcement U.S. Attorney General Eric Holder said. The Edward Byrns Memorial Justice AssistanceGrant (JAG) Prograj funds are part of more than $4 billionm in Justice Department Recovery Act funds available to preven t crime, improve the criminal justice systekm and support job creation, Holder’s officd said in a release. Missouri is requirecd to provide part ofthe $25 millioh to local jurisdictions.
The ’s applicationn for the funds said it plans to supporg response strategies to enhance public safethy and reduce violent crime andillegal drugs, whiles continuing to provide alternative sentencing programx and increase training and equipment for child abusw and neglect investigations, according to the JAG grants are allocated according to a formula using population and violentf crime statistics, combined with a minimukm allocation to each state and territory. Sixtyh percent of the allocation is awarded directly to a and 40 percent is set aside for unit oflocal government. Local awards throughu the grant will beannounced later.
The deadlinde for local units of government to submit applications to the isMay 18.
million in economic stimulus funds througg the American Recovery and Reinvestment Act for public safety projectz and to create or retain lawenforcement U.S. Attorney General Eric Holder said. The Edward Byrns Memorial Justice AssistanceGrant (JAG) Prograj funds are part of more than $4 billionm in Justice Department Recovery Act funds available to preven t crime, improve the criminal justice systekm and support job creation, Holder’s officd said in a release. Missouri is requirecd to provide part ofthe $25 millioh to local jurisdictions.
The ’s applicationn for the funds said it plans to supporg response strategies to enhance public safethy and reduce violent crime andillegal drugs, whiles continuing to provide alternative sentencing programx and increase training and equipment for child abusw and neglect investigations, according to the JAG grants are allocated according to a formula using population and violentf crime statistics, combined with a minimukm allocation to each state and territory. Sixtyh percent of the allocation is awarded directly to a and 40 percent is set aside for unit oflocal government. Local awards throughu the grant will beannounced later.
The deadlinde for local units of government to submit applications to the isMay 18.
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