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Framing lumber prices, including the cost of yellow pine used in the have plummeted over thepast year, causingh mill slowdowns and increased buyinb among contractors despite a recent slowdown in new home Keith Grant, principal of Keith and David Granyt New Homes, says he doesn't think the price drop has been as significanrt here as it has elsewhere. "Lumber prices droppedx in August," Keith Grant says. "I was a significant decrease, but it still wasn'gt even 5%." But in this market, every littlre thing helps, he says, notingt the ongoing increasesin concrete, copper, steep and petroleum prices.
"Low framing lumber prices have helped keep buildingfcosts down, but other material costs are stil rising," Grant says. Prices of southern pine used in residentiap framing inthe Mid-South have droppecd 22% from $368 per thousand board feet in Decembetr 2005 to $286 per thousand boarsd feet in December 2006, according to the Souther Pine Composite prices provided by , a fores products information company. sold in heavy volumeds daily," says Shawn Church, editofr for Random Lengths. "Like all commoditiesa it tends tobe volatile, moving both up and down in an open tradingb environment." Jimmy Whittington, owner of in attributes the price drop to a slowdown in the U.S.
housing market as a wholew during the second partof 2006. "It's a resulty of having too muchproduct (framing lumber) for the demand," Whittington "Home sales have slowed but all in all the economy is not in bad Memphis has never reallyy been a boom or bust town he says. Framing lumber demand is drivem by the construction ofnew housing, and pricese have come down in the Mid-South market as a resul t of significant slowdowns in new home constructiojn on the West and East coasts.
Church says the December composite price for southern pine framing lumbetrof $286 per thousand boardc feet is a result of lumber slow reaction coming out of the recordx housing market years in 2003 and 2004. "The lumber industrt had geared up to produce coming off recor d years just as the marke t started to fallin 2006," he "They didn't start making production corrections this year untipl prices fell to levels where they had to make productionh corrections." He says some lumber prices have fallenj to 10-year lows.
In mid to late Octobeer 2006 and intoNovemberd 2006, lumber mills began to cut back operations and slow he says, as the Southern Pine Composite pric e hit its low pointy for the year in October at $269 per thousand boar feet. Tim Wilson, president of Chamberlain & McCreery's residential says low framing prices have helped volumre home builders offset some of the increasedmaterialk costs. "It's helped, especially with what we're goingy through here in Shelby Counthy with the newseismic requirements," Wilson says.
"For a 2,800-square-foott house, you're looking at an added $3,000 to $4,000 per housde to comply with that, and a lot depends on the fronty elevation of the home and spacinbof windows." The Code Enforcemenft departments of Memphis and Shelby County, Bartlett and Collierville begam enforcing the updated seismic requirements for singld family homes in November 2006.
Saturday, September 29, 2012
Friday, September 28, 2012
Aussies inject colour into a grey France - Sydney Morning Herald
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Sydney Morning Herald | Aussies inject colour into a grey France Sydney Morning Herald BENEATH leaden skies and intermittent rain, designer Akira Isogawa yesterday brought a burst of Australian colour and light to Paris during the city's Fashion Week. Vibrant bird and orchid prints and lightweight draped dresses in fuchsia, intense red ... |
Thursday, September 27, 2012
Washington has third-highest internet use in U.S. - New Mexico Business Weekly:
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behind only Alaska and New Hampshire, accordingy to information released Wednesday bythe U.S. Census. Accordin to the Census, Alaskaa has the highest rate ofinternet use, with 76.1 percentr of its residents having access to the internef at any location, followed by New Hampshire (74.6 and Washington (73.4 percent). Mississippi has the lowesg internet-usage rate (51.5 percent), followed by West Virginiaw (52.9 percent). The national average is 62.4 percen t The Census said that 75.7 percent of Washington residents have access to the internet at their which is third agaih behind NewHampshire (82.6) and Alaska percent, and well above the national averagwe of 67.1 percent.
“As access to high-speedr connections have becomemore prevalent, so too have the numbet of people that connect to the internet at Thom File, a statistician with the Censuse Bureau's Housing and Household Economic Statisticws Division, said in a statementt Wednesday. Nationwide, internet use strongl correspondsto education. Eighty-seven percent of peoplwe 25 and older with acollegr bachelor’s degree used the interneyt in 2007, versus 74 percent for those with only some 49 percent for those with only a high schoolo diploma and 19 percent for those who didn't finish high school.
Among age groups 73 percent of 18- to 34-year-olds use the 56 percent of people 3to 17, and 35 percentf of people 65 and Among ethnic groups nationwide, 73 percentg of Asian Americans used the internet in 2007, 69 percent of whites, 51 perceng of blacks and 48 percent of Hispanics.
behind only Alaska and New Hampshire, accordingy to information released Wednesday bythe U.S. Census. Accordin to the Census, Alaskaa has the highest rate ofinternet use, with 76.1 percentr of its residents having access to the internef at any location, followed by New Hampshire (74.6 and Washington (73.4 percent). Mississippi has the lowesg internet-usage rate (51.5 percent), followed by West Virginiaw (52.9 percent). The national average is 62.4 percen t The Census said that 75.7 percent of Washington residents have access to the internet at their which is third agaih behind NewHampshire (82.6) and Alaska percent, and well above the national averagwe of 67.1 percent.
“As access to high-speedr connections have becomemore prevalent, so too have the numbet of people that connect to the internet at Thom File, a statistician with the Censuse Bureau's Housing and Household Economic Statisticws Division, said in a statementt Wednesday. Nationwide, internet use strongl correspondsto education. Eighty-seven percent of peoplwe 25 and older with acollegr bachelor’s degree used the interneyt in 2007, versus 74 percent for those with only some 49 percent for those with only a high schoolo diploma and 19 percent for those who didn't finish high school.
Among age groups 73 percent of 18- to 34-year-olds use the 56 percent of people 3to 17, and 35 percentf of people 65 and Among ethnic groups nationwide, 73 percentg of Asian Americans used the internet in 2007, 69 percent of whites, 51 perceng of blacks and 48 percent of Hispanics.
Tuesday, September 25, 2012
Villa Rica-based Community Bank of West Georgia fails - Dayton Business Journal:
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No bidder was found for Community Bank’s operations — one branch in the Atlanta suburb and the bank will be The will mail depositors checks for their insured fundsnext week, according to a releas from the Georgia Department of Banking and Until then, depositors will not have accessz to their money via ATMs, checks or the bank’sd Web site. As of first quarter 2009, the bank had $182. 5 million in total The FDIC estimates $1.1 million in customer depositsare uninsured. Currentlyh the FDIC guarantees upto $250,000 in depositss per account.
Blairsville-based will act as the deposir agent for any federal funds customerds would normally receive from the bank viadirect deposit, including Social Security and Veterans’ payments. This is the seconrd seizure without a buyer in Georgia since the banking was . Stockbridge-based bank failed in Marcn 2009, and served as the deposiyt agent for federal money for customerz inthat deal. Community Bank, like a growing catalogh of failedGeorgia banks, gambled heavily on residentiakl real estate loans, and lost. The bank was created at the beginningw of the home buying andconstruction boom, in 2003.
As of firsgt quarter 2009, roughly one-third of the bank’as $129 million in total loans were in some stagesof delinquency, default or had becomee bank-owned foreclosures. By the time of the bank’s it had $27 million in foreclosed real estate onits $11 million in loans that appeared unlikelgy to be repaid and only $7.3 million in equit y capital to absorb losses. The bank’s Texasx Ratio — or a comparison of its loan problema to itsequity capital, an industryg metric created during the S&L Crisis to measurse banks’ health throughout Texas — was 294 percen at the end of firstf quarter 2009.
Most of the baker’s dozemn bank failures in Atlanta had Texas Ratios in excesd of300 percent, and is becominb a common indicator of banks likely to be seizerd by regulators. The failure is expectedf to costthe FDIC’s hard hit insurance fund $81 Developing...
No bidder was found for Community Bank’s operations — one branch in the Atlanta suburb and the bank will be The will mail depositors checks for their insured fundsnext week, according to a releas from the Georgia Department of Banking and Until then, depositors will not have accessz to their money via ATMs, checks or the bank’sd Web site. As of first quarter 2009, the bank had $182. 5 million in total The FDIC estimates $1.1 million in customer depositsare uninsured. Currentlyh the FDIC guarantees upto $250,000 in depositss per account.
Blairsville-based will act as the deposir agent for any federal funds customerds would normally receive from the bank viadirect deposit, including Social Security and Veterans’ payments. This is the seconrd seizure without a buyer in Georgia since the banking was . Stockbridge-based bank failed in Marcn 2009, and served as the deposiyt agent for federal money for customerz inthat deal. Community Bank, like a growing catalogh of failedGeorgia banks, gambled heavily on residentiakl real estate loans, and lost. The bank was created at the beginningw of the home buying andconstruction boom, in 2003.
As of firsgt quarter 2009, roughly one-third of the bank’as $129 million in total loans were in some stagesof delinquency, default or had becomee bank-owned foreclosures. By the time of the bank’s it had $27 million in foreclosed real estate onits $11 million in loans that appeared unlikelgy to be repaid and only $7.3 million in equit y capital to absorb losses. The bank’s Texasx Ratio — or a comparison of its loan problema to itsequity capital, an industryg metric created during the S&L Crisis to measurse banks’ health throughout Texas — was 294 percen at the end of firstf quarter 2009.
Most of the baker’s dozemn bank failures in Atlanta had Texas Ratios in excesd of300 percent, and is becominb a common indicator of banks likely to be seizerd by regulators. The failure is expectedf to costthe FDIC’s hard hit insurance fund $81 Developing...
Monday, September 24, 2012
Cutting noncore expenses can be at the heart of survival - Kansas City Business Journal:
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The COO of pharmacy distributor PBA Healtjh got a call from a fellow churcn member who did consultinh asking whether PBA could reducseits spending. Balcom was somewhat hesitant. “There’z always a reluctance on those who oversee thesee kinds of areas of the company to lift the hood and see howwell we’rr doing,” Balcom said. Nevertheless, the companyg hired to see whether it could cut somenoncoree spending. In packaging and freight alone, the companuy was spending $650,000 annually between and On the advice of the PBA recast its request for proposals to carriers on its Inthe end, the process spared PBA Healtyh $80,000 to $90,000 annually.
Balcom said those savings translate into twoto 2.5 full-timd equivalents in the office and four in the With companies quick to shed employeesx to save costs, noncore expense reduction has emerged as an alternatives to job cuts and compromising production and “When you save on you save on telecommunications that’s all savings that drops on your bottojm line and that does not adverseluy affect service,” Balcom At its simplest, noncore spendingg amounts to costs associated with runninyg a business that don’t involve direct personnel expenses or raw materials.
“Overhead” and “indirect are interchangeable terms commonly associatedr withnoncore expenses. On these costs can represent 15 percent ofa company’s expenditures, said Kris director of Expense Reduction Analysts in Leawood. “Here’sz the way I typically frame it: It is prettyu much anything that is important but supportivd ofthe business,” he said. “Fotr most of our clients, telecommunications do not definwa business, but they are important.” Information supplies, phones, computers, equipment maintenance and equipment such as copiers typicallh encompass noncore expenses.
Steve Cattron, managinb director of Expense Reduction Analysts, said CFOs and COOs ofte don’t know how many minute noncores expensesthey incur. “At the it’s surprising the lack of detailedr knowledge that exists about spending incertain categories,” he said. “Thegy don’t know how much they’re spending on small-packagd freight.” Kauss said that finding noncore expenses starts with identifying areas that supporta business’s outpurt but do not tie in directlyh with its product or A law firm, for would not find noncore expenses in its asseta — the lawyers — but perhaps in paper, copy equipment and insurance.
According to Expense Reductionm Analysts, payroll processing, janitorial supplies, office productsz and merchant card fees are among the categories that typicallgy can reveal the largest cost savingsby percentage, with each drawing average savings of more than 30 Many noncore expenses are tied up in contracts or lease with vendors and suppliers. Slicingy many noncore expenditures lies in renegotiatin those contracts beforethey elapse. Kauss and Cattron said significangt savings can be foundd in reworkinga contract. Furthermore, many vendor have grown amenable to requests to change the terms of theirf arrangementswith customers, fearful of losing business.
“Today’s suppliera don’t want to experience any more attritionn than theyalready have,” said Brian managing partner of spend management advisor y solutions for ’s Kansas City “Something is better than nothing, so even if suppliers have to get a 5 percentr reduction in unit costss across the board, that’s something they will give up to keep from losingh that business.
”
The COO of pharmacy distributor PBA Healtjh got a call from a fellow churcn member who did consultinh asking whether PBA could reducseits spending. Balcom was somewhat hesitant. “There’z always a reluctance on those who oversee thesee kinds of areas of the company to lift the hood and see howwell we’rr doing,” Balcom said. Nevertheless, the companyg hired to see whether it could cut somenoncoree spending. In packaging and freight alone, the companuy was spending $650,000 annually between and On the advice of the PBA recast its request for proposals to carriers on its Inthe end, the process spared PBA Healtyh $80,000 to $90,000 annually.
Balcom said those savings translate into twoto 2.5 full-timd equivalents in the office and four in the With companies quick to shed employeesx to save costs, noncore expense reduction has emerged as an alternatives to job cuts and compromising production and “When you save on you save on telecommunications that’s all savings that drops on your bottojm line and that does not adverseluy affect service,” Balcom At its simplest, noncore spendingg amounts to costs associated with runninyg a business that don’t involve direct personnel expenses or raw materials.
“Overhead” and “indirect are interchangeable terms commonly associatedr withnoncore expenses. On these costs can represent 15 percent ofa company’s expenditures, said Kris director of Expense Reduction Analysts in Leawood. “Here’sz the way I typically frame it: It is prettyu much anything that is important but supportivd ofthe business,” he said. “Fotr most of our clients, telecommunications do not definwa business, but they are important.” Information supplies, phones, computers, equipment maintenance and equipment such as copiers typicallh encompass noncore expenses.
Steve Cattron, managinb director of Expense Reduction Analysts, said CFOs and COOs ofte don’t know how many minute noncores expensesthey incur. “At the it’s surprising the lack of detailedr knowledge that exists about spending incertain categories,” he said. “Thegy don’t know how much they’re spending on small-packagd freight.” Kauss said that finding noncore expenses starts with identifying areas that supporta business’s outpurt but do not tie in directlyh with its product or A law firm, for would not find noncore expenses in its asseta — the lawyers — but perhaps in paper, copy equipment and insurance.
According to Expense Reductionm Analysts, payroll processing, janitorial supplies, office productsz and merchant card fees are among the categories that typicallgy can reveal the largest cost savingsby percentage, with each drawing average savings of more than 30 Many noncore expenses are tied up in contracts or lease with vendors and suppliers. Slicingy many noncore expenditures lies in renegotiatin those contracts beforethey elapse. Kauss and Cattron said significangt savings can be foundd in reworkinga contract. Furthermore, many vendor have grown amenable to requests to change the terms of theirf arrangementswith customers, fearful of losing business.
“Today’s suppliera don’t want to experience any more attritionn than theyalready have,” said Brian managing partner of spend management advisor y solutions for ’s Kansas City “Something is better than nothing, so even if suppliers have to get a 5 percentr reduction in unit costss across the board, that’s something they will give up to keep from losingh that business.
”
Saturday, September 22, 2012
New Cousins CEO encouraged about the market - Washington Business Journal:
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"This isn't going to be a V-shaped Gellerstedt said Monday in an intervie with AtlantaBusiness Chronicle. "But, we'ree going to see many opportunitiesto Gellerstedt, who joined Cousins in 2005, will take over for currentr CEO Tom Bell on July 1. who turns 60 this year, announced his retiremenyt to the companyMonday morning. Cousins is a storied Atlanta realestated developer. Founded in 1958 by Tom the company has been involved in some ofthe city's biggestr real estate projects, including the developmenr of the 55-story Bank of America Plazq in 1989. The market isn't providin the best timing for Gellerstedt.
He takes the helm during the nation's worst real estats downturn in at leasta generation. While the marketf is showing some signs of it has nosedived from its peak inearlgy 2007. Cousins has one of the four new officee towers under developmentin Buckhead, a part of the city that absorb s about 350,000 to 500,000 square feet of office spacew annually. Office vacancy in Buckhead could surpass 30 percenrt by this timenext year, some commercial real estatee developers and brokers predict. There are signs, however, that the marke t is picking up, Bell and Gellerstedt said.
For one, the gap betweenb what investors are willing to pay for propertiexs and what owners are willing to sell them for continues to While that spread was 400 basiw points a fewmonths ago, it is closee to 100 points today, Bell Also, banks have a clearer picturde of their capital levels than they did earlierd this year, and regulators are increasingly pushingt them to deal some of their real estatde owned assets. Cousins (NYSE: CUZ) , postingy net income of $164.2 million on $49 milliomn in revenue.
At the end of the the company’s portfolio of operational officew buildings was 90 percent its portfolio of operational retail centers was 83 percenrt leased and its operational industrial buildings were 40perceng leased. Gellerstedt began his career in 1978 as an estimatort and project managerwith , where he worked on the High Museukm and the AT&T Long Lines Building in At only 26, he founded , a Beerse subsidiary that focused on health-care Gellerstedt was later named Beersa chairman and CEO.
Cousins acquired his firm, the , in June and he joined the Gellerstedt was one of the architectsx of turning around the fortunes of One NinetyyOne Peachtree, the 50-story downtown tower Cousinsx acquired in 2006. The improvementsz at One Ninety One have symbolized a returnm to prosperity for many partsof downtown, its economic boosters say. Shortly after Gellerstedt joined One Ninety One had lost major tenantsand , and downtownj Atlanta was suffering from the exodusx of those firms and Gellerstedt was instrumental in the rejuvenation of One Ninetuy One, Bell said. "We basically gave this building to Bell said.
"I remembed when we were walking through the atriumn several years ago that there was nothingin there. It had this echo And I said to Larry, 'What are we goingy to about this echo?' And Larry came righyt back and said, ‘ I tell you what we're goin g to do. We're going to fill this atriujm and thisbuilding up.’ It's a totally different building today." One Ninety One was nearly 90 percentr leased at the beginning of the Cousins also landed the Italianm restaurant Il Mulino which has also helped to revive the atrium. "Ij spent most of my career Gellerstedt said. "I've alway s thought that One Ninety One is atimeless asset.
"
"This isn't going to be a V-shaped Gellerstedt said Monday in an intervie with AtlantaBusiness Chronicle. "But, we'ree going to see many opportunitiesto Gellerstedt, who joined Cousins in 2005, will take over for currentr CEO Tom Bell on July 1. who turns 60 this year, announced his retiremenyt to the companyMonday morning. Cousins is a storied Atlanta realestated developer. Founded in 1958 by Tom the company has been involved in some ofthe city's biggestr real estate projects, including the developmenr of the 55-story Bank of America Plazq in 1989. The market isn't providin the best timing for Gellerstedt.
He takes the helm during the nation's worst real estats downturn in at leasta generation. While the marketf is showing some signs of it has nosedived from its peak inearlgy 2007. Cousins has one of the four new officee towers under developmentin Buckhead, a part of the city that absorb s about 350,000 to 500,000 square feet of office spacew annually. Office vacancy in Buckhead could surpass 30 percenrt by this timenext year, some commercial real estatee developers and brokers predict. There are signs, however, that the marke t is picking up, Bell and Gellerstedt said.
For one, the gap betweenb what investors are willing to pay for propertiexs and what owners are willing to sell them for continues to While that spread was 400 basiw points a fewmonths ago, it is closee to 100 points today, Bell Also, banks have a clearer picturde of their capital levels than they did earlierd this year, and regulators are increasingly pushingt them to deal some of their real estatde owned assets. Cousins (NYSE: CUZ) , postingy net income of $164.2 million on $49 milliomn in revenue.
At the end of the the company’s portfolio of operational officew buildings was 90 percent its portfolio of operational retail centers was 83 percenrt leased and its operational industrial buildings were 40perceng leased. Gellerstedt began his career in 1978 as an estimatort and project managerwith , where he worked on the High Museukm and the AT&T Long Lines Building in At only 26, he founded , a Beerse subsidiary that focused on health-care Gellerstedt was later named Beersa chairman and CEO.
Cousins acquired his firm, the , in June and he joined the Gellerstedt was one of the architectsx of turning around the fortunes of One NinetyyOne Peachtree, the 50-story downtown tower Cousinsx acquired in 2006. The improvementsz at One Ninety One have symbolized a returnm to prosperity for many partsof downtown, its economic boosters say. Shortly after Gellerstedt joined One Ninety One had lost major tenantsand , and downtownj Atlanta was suffering from the exodusx of those firms and Gellerstedt was instrumental in the rejuvenation of One Ninetuy One, Bell said. "We basically gave this building to Bell said.
"I remembed when we were walking through the atriumn several years ago that there was nothingin there. It had this echo And I said to Larry, 'What are we goingy to about this echo?' And Larry came righyt back and said, ‘ I tell you what we're goin g to do. We're going to fill this atriujm and thisbuilding up.’ It's a totally different building today." One Ninety One was nearly 90 percentr leased at the beginning of the Cousins also landed the Italianm restaurant Il Mulino which has also helped to revive the atrium. "Ij spent most of my career Gellerstedt said. "I've alway s thought that One Ninety One is atimeless asset.
"
Friday, September 21, 2012
Report: GM bankruptcy expected as early as next week - St. Louis Business Journal:
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is expected to file bankruptcuy late next week and could get upto $30 billionn in additional federal bailout funds, according to a Fridayy report in the Washington Post. The newspapee quoted sources familiar with the discussionsw betweenGM (NYSE: GM) and Presidenft Barack Obama’s administration, and said the government is expected to steer the automaker toward filing either late next or in the first week of The investment of up to $30 billion is said to be somethinb that could change, but at that amounft it would bring the federakl government's investment in GM to nearly $45 billion. The governmenft would have a 50 percent stake ina new, more competitive GM.
A deal to take GM into bankruptcy comesx as the newspaper also quoted sourcesw in the industry as sayinhg could come as early asnext week. GM with the on Thursdauy for concessions to its labor contract as part of its plan to seek deals with its union and The talks with bondholders are believefd tobe continuing. Both GM and Chrysler have accepted billionsw in federal bailout funds and have announced a combinednearly 1,9090 dealerships would be cut as they trim their dealet franchise numbers and make cuts to their work forces.
is expected to file bankruptcuy late next week and could get upto $30 billionn in additional federal bailout funds, according to a Fridayy report in the Washington Post. The newspapee quoted sources familiar with the discussionsw betweenGM (NYSE: GM) and Presidenft Barack Obama’s administration, and said the government is expected to steer the automaker toward filing either late next or in the first week of The investment of up to $30 billion is said to be somethinb that could change, but at that amounft it would bring the federakl government's investment in GM to nearly $45 billion. The governmenft would have a 50 percent stake ina new, more competitive GM.
A deal to take GM into bankruptcy comesx as the newspaper also quoted sourcesw in the industry as sayinhg could come as early asnext week. GM with the on Thursdauy for concessions to its labor contract as part of its plan to seek deals with its union and The talks with bondholders are believefd tobe continuing. Both GM and Chrysler have accepted billionsw in federal bailout funds and have announced a combinednearly 1,9090 dealerships would be cut as they trim their dealet franchise numbers and make cuts to their work forces.
Thursday, September 20, 2012
Cascade Financial sees up to $21M loss - Boston Business Journal:
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Everett, Wash.-based Cascade Financial, the parent companyu of , said it expects to take a $15 milliob provision against badloans — among the highesty quarterly provisions in the company’s recent history, said Lars chief financial officer. Its total provision for bad loanswas $25 milliojn at the end of March. with 22 branches across the also said it expects to take a charge of $12 million related to its 2005 purchase of Issaquahy Bank. Second quarter results are dueJuly 27.
Like many Pugegt Sound region banks, Cascade is struggling with construction loans that have gone bad as developerds default amid thehousing market’s Cascade has not released its anticipated number of problejm loans for the second quarter, but they “will be Johnson said. In the first quarter, the bank’ss nonperforming assets — one measures of bad loans — were $59.7 million, or 3.6 percent of totapl assets. That number includes $9.1 millio n in property the bank has takenb backthrough foreclosure, Johnson said. It’s unclear whethe the bank will face further regulatory scrutinhy like at least seven other bankeacross Washington.
“It’s hard to said Johnson. “We woul hope not. But some of our peerse and brethren wereunpleasantly surprised, so it’s really hard to make any
Everett, Wash.-based Cascade Financial, the parent companyu of , said it expects to take a $15 milliob provision against badloans — among the highesty quarterly provisions in the company’s recent history, said Lars chief financial officer. Its total provision for bad loanswas $25 milliojn at the end of March. with 22 branches across the also said it expects to take a charge of $12 million related to its 2005 purchase of Issaquahy Bank. Second quarter results are dueJuly 27.
Like many Pugegt Sound region banks, Cascade is struggling with construction loans that have gone bad as developerds default amid thehousing market’s Cascade has not released its anticipated number of problejm loans for the second quarter, but they “will be Johnson said. In the first quarter, the bank’ss nonperforming assets — one measures of bad loans — were $59.7 million, or 3.6 percent of totapl assets. That number includes $9.1 millio n in property the bank has takenb backthrough foreclosure, Johnson said. It’s unclear whethe the bank will face further regulatory scrutinhy like at least seven other bankeacross Washington.
“It’s hard to said Johnson. “We woul hope not. But some of our peerse and brethren wereunpleasantly surprised, so it’s really hard to make any
Tuesday, September 18, 2012
Prime Rocky Point properties on the block - Tampa Bay Business Journal:
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Now two of its seven office buildings, Waterfor Plaza and , are being actively shopped. plans to sell the circa-1980 buildings that have a combined square footage ofabouy 482,328. It has retained . Listing broker Mike Davids of Cushman & Wakefield declinede comment. Rocky Point’s buildings are typically held for brokers said. It's a sought-afterd location with prime Tampa Bay views and proximity to Pinellad and Hillsborough countiesand , Prudential acquirec the two buildings in 2004 when it paid $2.1 billiom for ’s retirement At the time, brokers estimated Prudential paid $68 million, or roughlgy $140 a square foot.
Hillsborough property records show that Prudentia paid slightly lessat $67 It’s unclear how much the buildinges might sell for today. The credit freeze has made it tougbh for investors toobtain loans, and demand has diminishedf for commercial real estatew as investors wait for a sign the market has trulu hit bottom. Deal volume has dropped off markedly, some contendd by more than 70 percent. Waterford Plaza is at 7650 W. Courtneyy Campbell Causeway, and Island Center is at 2701 RockPoint Drive. Brokers contend therde are investors, including institutional buyers such as with cashto spend.
But buyers are typicallg looking for abig “There’s still a gap betweej sellers’ expectations and buyers’ expectations,” said Dan VP of in Tampa. Highwoods, one of the region’s largesft office developers, owns Rocky Point’s Harborvieqw Plaza, built in 2002. “Relatively speaking it’s one of the strongestf submarkets in the TampaBay area,” Woodward While supply in Rocky Point, which has 1.4 milliobn square feet office space, is constrained, the island’s buildings aren’g insulated from the recessionary economy. The seven Rocky Pointr buildings have an overalpl vacancy rateof 18.
2 slightly higher than the Tampa Bay region’s first-quarter 17.9 according to Cushman & Wakefield. Waterford Plaza’s vacanc rate of 9.3 percent is nearly half Rocky Point’ss overall rate. But Island Center’s 19.3 percent rate is higher. “Because of the slowdown in job growth and resultin effect onoffice demand, everyone is pushinfg to get tenants out there,” Woodward
Now two of its seven office buildings, Waterfor Plaza and , are being actively shopped. plans to sell the circa-1980 buildings that have a combined square footage ofabouy 482,328. It has retained . Listing broker Mike Davids of Cushman & Wakefield declinede comment. Rocky Point’s buildings are typically held for brokers said. It's a sought-afterd location with prime Tampa Bay views and proximity to Pinellad and Hillsborough countiesand , Prudential acquirec the two buildings in 2004 when it paid $2.1 billiom for ’s retirement At the time, brokers estimated Prudential paid $68 million, or roughlgy $140 a square foot.
Hillsborough property records show that Prudentia paid slightly lessat $67 It’s unclear how much the buildinges might sell for today. The credit freeze has made it tougbh for investors toobtain loans, and demand has diminishedf for commercial real estatew as investors wait for a sign the market has trulu hit bottom. Deal volume has dropped off markedly, some contendd by more than 70 percent. Waterford Plaza is at 7650 W. Courtneyy Campbell Causeway, and Island Center is at 2701 RockPoint Drive. Brokers contend therde are investors, including institutional buyers such as with cashto spend.
But buyers are typicallg looking for abig “There’s still a gap betweej sellers’ expectations and buyers’ expectations,” said Dan VP of in Tampa. Highwoods, one of the region’s largesft office developers, owns Rocky Point’s Harborvieqw Plaza, built in 2002. “Relatively speaking it’s one of the strongestf submarkets in the TampaBay area,” Woodward While supply in Rocky Point, which has 1.4 milliobn square feet office space, is constrained, the island’s buildings aren’g insulated from the recessionary economy. The seven Rocky Pointr buildings have an overalpl vacancy rateof 18.
2 slightly higher than the Tampa Bay region’s first-quarter 17.9 according to Cushman & Wakefield. Waterford Plaza’s vacanc rate of 9.3 percent is nearly half Rocky Point’ss overall rate. But Island Center’s 19.3 percent rate is higher. “Because of the slowdown in job growth and resultin effect onoffice demand, everyone is pushinfg to get tenants out there,” Woodward
Monday, September 17, 2012
FAR economist Lawrence Yun stays positive in Tampa trip - Business First of Columbus:
aleshnikovenil.blogspot.com
Those were just some of the insightsx chief economist Lawrence Yun shared with members of theThursday “We have the lowest mortgage rates since President Eisenhower but not with jumbo Yun said. “We hear about the 50-year low mortgage rate s at 4.9 percent or 4.8 percent, but with jumbk mortgages, they still remain stubbornly highat 6.5 percent and 7 Fannie and Freddie can’t buy those, so they have to charg e a higher interest rate.” At the same time help is neededf to sell homes listing for more than Yun said. “The government needs to raise the loan limit or get rid of the loan limiy altogether if they want the housing marketto stabilize,” he said.
“In the middle market, we are seein g a rise in foreclosures, and the high end will beginm to suffer if there are no If there areno buyers, then they have to reduc prices, and reduce prices and reduce prices, and we’ll never find a bottom.” Last many of the foreclosures hitting the marketr came from interest rate resetxs caused by adjustable rate mortgages. Now, however, other economic issues like job loss and otheer large bills are fueling that particular which is likely to stay stronvg through the rest of the Yun said.
“This area has had larg job creation inrecent years, but now we’re seeing job cuts that are much deepetr than in past recessions,” Yun said. One of the leadin industries with job lossesis construction, but financiap jobs and business services aren’f that far behind, he In fact, the only areas that seem to be showing solif growth are education and health care. “Independen of any political philosophy, the most likely occurrencwe is that there will be increased healty care spending and increasededucationb spending, so we’ll probably continue to see growtbh in those areas over the next four years,” Yun said.
On a broadee scale, the United States is facingt some of its biggest budget deficits ever, which could force the government to call on the more, thus boostinfg inflation. Such a move couldf be good for homebuyers. “In an inflationar society, the winners wouldr be property owners as they would see theitvalues rise,” Yun said. “If it’s a the losers would be responsiblre homeownerswith mortgages.” The signs are in place for a home salesd rebound. During the economic downturn ofthe 1980s, home sales droppee dramatically because mortgage rates were rising from 10 to 18 Yun said. In the most recent prior followingthe Sept.
11, 2001, terroris attacks, home sales actually rose mostly because mortgage rates were falling from 8 perceng downto 6.5 percent. “Today, it is 5 and it’s likely to be 5.5 percentr by the year’s Yun said. “That represents great Home salescan rise, even in a recession, when the mortgag e rates are favorable. We may be facing an unemployment rate of 10 which is a highunemploymeng rate, but that still means therwe are 90 percent of the people out therse with jobs.
”
Those were just some of the insightsx chief economist Lawrence Yun shared with members of theThursday “We have the lowest mortgage rates since President Eisenhower but not with jumbo Yun said. “We hear about the 50-year low mortgage rate s at 4.9 percent or 4.8 percent, but with jumbk mortgages, they still remain stubbornly highat 6.5 percent and 7 Fannie and Freddie can’t buy those, so they have to charg e a higher interest rate.” At the same time help is neededf to sell homes listing for more than Yun said. “The government needs to raise the loan limit or get rid of the loan limiy altogether if they want the housing marketto stabilize,” he said.
“In the middle market, we are seein g a rise in foreclosures, and the high end will beginm to suffer if there are no If there areno buyers, then they have to reduc prices, and reduce prices and reduce prices, and we’ll never find a bottom.” Last many of the foreclosures hitting the marketr came from interest rate resetxs caused by adjustable rate mortgages. Now, however, other economic issues like job loss and otheer large bills are fueling that particular which is likely to stay stronvg through the rest of the Yun said.
“This area has had larg job creation inrecent years, but now we’re seeing job cuts that are much deepetr than in past recessions,” Yun said. One of the leadin industries with job lossesis construction, but financiap jobs and business services aren’f that far behind, he In fact, the only areas that seem to be showing solif growth are education and health care. “Independen of any political philosophy, the most likely occurrencwe is that there will be increased healty care spending and increasededucationb spending, so we’ll probably continue to see growtbh in those areas over the next four years,” Yun said.
On a broadee scale, the United States is facingt some of its biggest budget deficits ever, which could force the government to call on the more, thus boostinfg inflation. Such a move couldf be good for homebuyers. “In an inflationar society, the winners wouldr be property owners as they would see theitvalues rise,” Yun said. “If it’s a the losers would be responsiblre homeownerswith mortgages.” The signs are in place for a home salesd rebound. During the economic downturn ofthe 1980s, home sales droppee dramatically because mortgage rates were rising from 10 to 18 Yun said. In the most recent prior followingthe Sept.
11, 2001, terroris attacks, home sales actually rose mostly because mortgage rates were falling from 8 perceng downto 6.5 percent. “Today, it is 5 and it’s likely to be 5.5 percentr by the year’s Yun said. “That represents great Home salescan rise, even in a recession, when the mortgag e rates are favorable. We may be facing an unemployment rate of 10 which is a highunemploymeng rate, but that still means therwe are 90 percent of the people out therse with jobs.
”
Saturday, September 15, 2012
Lenders may be flexible when borrowers can
xeconatyxex.blogspot.com
That’s the advice locao bankers offer any businessperson who’s afraid of running late on Bankers are often willing to work with a customefr to lower payments on business They’ll even suspend payments altogether for a definesd period of time. But theier flexibility hinges on trust. And trust is established when a busineses client approaches the bank with full information about what kindz of problems the busineswis having, backed with full financial That includes not only a currentg income statement and balance but also a report on aging said Marlene Roberts, senior regional chief credir officer at in Portland.
“Wer need to know, what’s 30 days past due, 60 90 days, and what are you doingb to collect thoseaccounts receivable?” she said. “Sometimes that helpsd the businessowner too. A lighyt bulb goes off, and they say, ‘I’mn so busy I didn’t even know where we were.’” Full financiapl information can help the banker see other ways a business ownee might recoversome cash. A businesz could sell off inventory ata discount, or sell equipmen t that’s not needed and won’r be any time soon. But the bankerf will also expect clients to come in with a few ideas of their own about how to improvecash flow.
“We’ expect them to recognize the problem and have givehn some thought to how they believe they can workthrougyh it,” Roberts said. Banks often want to see a businesz owner’s personal financial information, in additionj to the business statements. That lets the bank determinee whether the customer can personally guaranter arenegotiated loan. Banks have more leewat than onemight think, and will use it for a good “We can rewrite loans, we can extend the term, we can skip some said David Sorenson, senior vice president of businesds banking for in Banks seldom forgive debt.
Any banker that allowz a customer to skip payments will expect the customer to eventually catch up and pay back both principal andinterest owed. Business owners should keep in mind that banks are motivatefd tohelp them, as long as they have the righ information to help them do it, said Jeff chief lending officer and co-founder of . “Thew bank does not want your collateral,” Sumpter said.
“Igt wants to work out something on thepaymre
That’s the advice locao bankers offer any businessperson who’s afraid of running late on Bankers are often willing to work with a customefr to lower payments on business They’ll even suspend payments altogether for a definesd period of time. But theier flexibility hinges on trust. And trust is established when a busineses client approaches the bank with full information about what kindz of problems the busineswis having, backed with full financial That includes not only a currentg income statement and balance but also a report on aging said Marlene Roberts, senior regional chief credir officer at in Portland.
“Wer need to know, what’s 30 days past due, 60 90 days, and what are you doingb to collect thoseaccounts receivable?” she said. “Sometimes that helpsd the businessowner too. A lighyt bulb goes off, and they say, ‘I’mn so busy I didn’t even know where we were.’” Full financiapl information can help the banker see other ways a business ownee might recoversome cash. A businesz could sell off inventory ata discount, or sell equipmen t that’s not needed and won’r be any time soon. But the bankerf will also expect clients to come in with a few ideas of their own about how to improvecash flow.
“We’ expect them to recognize the problem and have givehn some thought to how they believe they can workthrougyh it,” Roberts said. Banks often want to see a businesz owner’s personal financial information, in additionj to the business statements. That lets the bank determinee whether the customer can personally guaranter arenegotiated loan. Banks have more leewat than onemight think, and will use it for a good “We can rewrite loans, we can extend the term, we can skip some said David Sorenson, senior vice president of businesds banking for in Banks seldom forgive debt.
Any banker that allowz a customer to skip payments will expect the customer to eventually catch up and pay back both principal andinterest owed. Business owners should keep in mind that banks are motivatefd tohelp them, as long as they have the righ information to help them do it, said Jeff chief lending officer and co-founder of . “Thew bank does not want your collateral,” Sumpter said.
“Igt wants to work out something on thepaymre
Friday, September 14, 2012
UNCC honors Rodgers Builders CEO - Birmingham Business Journal:
lehoquvuhu.wordpress.com
The Charlotte-based company has worked on severaluniversity projects, includinb the Barnhardt Student Activity Center, Irwin Belk Trackk and Field Center, Lynch Residence Hall and the Bioinformatics Research Center. Rodgers Builders also is the constructiojn manager onthe university’s new, $50.4 million Center City Buildingt project that is slated to open in the fall of 2011. A groundbreakinhg ceremony was held in April forthe 12-story, classroojm building at the corner of Ninth and Brevardc streets in uptown Charlotte.
“Whay sets Pat apart from most is her she remains personally invested in the institutionx and organizations she touches long after her formap involvementhas ended,” says Philip Dubois, UNC Charlotte chancellor. “Heer commitment to the betterment of our communithy extends to herbusiness philosophy. In fact, Rodgerx Builders has been hailedr time and again as the epitomreof civic-minded business.” Rodgers is also chair of the Charlotter Symphony board and will assume the chairmanship of the Charlottse Chamber board in 2011. The university establishefd the Distinguished Service Awardin 1987.
It honors individuals who have provided outstanding leadership and service to the Charlott e community and to the advancemen t ofUNC Charlotte. Rodgers was honored Tuesday during a luncheon at the UNC Charlotte isthe fourth-largest campus among the 17 institutionw of the UNC system. It is the largest institutiohn of higher education in theCharlottw region, offering doctoral, master’s and bachelor’sw programs. Fall 2008 enrollment was 23,300, including nearly 5,00o0 graduate students.
The Charlotte-based company has worked on severaluniversity projects, includinb the Barnhardt Student Activity Center, Irwin Belk Trackk and Field Center, Lynch Residence Hall and the Bioinformatics Research Center. Rodgers Builders also is the constructiojn manager onthe university’s new, $50.4 million Center City Buildingt project that is slated to open in the fall of 2011. A groundbreakinhg ceremony was held in April forthe 12-story, classroojm building at the corner of Ninth and Brevardc streets in uptown Charlotte.
“Whay sets Pat apart from most is her she remains personally invested in the institutionx and organizations she touches long after her formap involvementhas ended,” says Philip Dubois, UNC Charlotte chancellor. “Heer commitment to the betterment of our communithy extends to herbusiness philosophy. In fact, Rodgerx Builders has been hailedr time and again as the epitomreof civic-minded business.” Rodgers is also chair of the Charlotter Symphony board and will assume the chairmanship of the Charlottse Chamber board in 2011. The university establishefd the Distinguished Service Awardin 1987.
It honors individuals who have provided outstanding leadership and service to the Charlott e community and to the advancemen t ofUNC Charlotte. Rodgers was honored Tuesday during a luncheon at the UNC Charlotte isthe fourth-largest campus among the 17 institutionw of the UNC system. It is the largest institutiohn of higher education in theCharlottw region, offering doctoral, master’s and bachelor’sw programs. Fall 2008 enrollment was 23,300, including nearly 5,00o0 graduate students.
Thursday, September 13, 2012
Exco Resources sells $375M in assets - Dallas Business Journal:
kleopatraxnibe.blogspot.com
The sale, which is expected to be completer byAugust 2009, includes Dallas-based Exco Norge Marchland Unit in Grady County, Okla., as well as its Gladewaterd Field and Overton Field assets in Upshur and Smith counties. Other assets included in the sale are locatefdin Oklahoma, Kansas and in the Texaws Panhandle. The properties includedf in the sale will provide Encorr Operating LPwith 4.7 millioh barrels of oil and 148 billiomn cubic feet of natural gas or 176 billion cubic feet of natural gas equivalent, Exco Resources said. The net production levels are know n toreach 1,223 barrels of oil each day and 26.9 million cubix feet of natural gas per day.
Fort Worth-based Encore Operating LP, which is an oil and gas field exploration company, will be acquiring 66,700 net acresx as well as various gathering systems in the
The sale, which is expected to be completer byAugust 2009, includes Dallas-based Exco Norge Marchland Unit in Grady County, Okla., as well as its Gladewaterd Field and Overton Field assets in Upshur and Smith counties. Other assets included in the sale are locatefdin Oklahoma, Kansas and in the Texaws Panhandle. The properties includedf in the sale will provide Encorr Operating LPwith 4.7 millioh barrels of oil and 148 billiomn cubic feet of natural gas or 176 billion cubic feet of natural gas equivalent, Exco Resources said. The net production levels are know n toreach 1,223 barrels of oil each day and 26.9 million cubix feet of natural gas per day.
Fort Worth-based Encore Operating LP, which is an oil and gas field exploration company, will be acquiring 66,700 net acresx as well as various gathering systems in the
Tuesday, September 11, 2012
DAS manager at center of probe over COBRA checks - Portland Business Journal:
hyperwave-exhausted.blogspot.com
The Office of the Statr Inspector General, in a report releasedc Tuesday, outlined an investigation into the specifically the operation that administers the Consolidatefd Omnibus BudgetReconciliation Act, or COBRA, That piece of 1986 federalp legislation allows unemployed workers to buy healthy insurance coverage for up to 18 months. Davif Holbrook, chief of the COBRqA division sincelast year, is the target of the state’e effort to fire him after investigators said hundredw of COBRA payment checksa went missing under his watch. Investigators found more than 500 about 200 more thanoriginallyy thought, valued at abouft $214,000 in a credenza in Holbrook’s officre on April 10.
Holbrook, 45, by that time was on paid administrativde leave and no longef had anoffice key. He denied any knowledge of the checka or how they got intohis office. Accordingh to the report, it was unclear if he was purposefully holdingthe checks. The department said Tuesdayg therewas “no indication that premium fundsz were misappropriated.” A key factor behind the missinf checks, the probe was a “dual accounting that was employed because the departmeny opted not to switch its COBRAz records to a new Ohio Administrative Knowledge System, or OAKS, aimedx at improving operations.
That decision, combinedr with the retirement ofthe division’w former chief, triggered what the report callef a “disaster” in The probe also found Holbrook, who once worke in the state Department of Natural Resourcees and Department of Youth Services, had a records of inappropriate conduct in state jobs that was describexd as a “pattern of dishones behavior.” At the Administrativ e Services Department, he earned a base annual wage of The department in a statemenft Tuesday said it has put in place stronger controlsw on COBRA processing, specifically switching to and worked with those affecte d by the misplaced checks.
The state probde had recommended changes to COBRA processing operationws along withan audit. The Department of Administrative Servicesx also indicated disciplinary actions might notbe over. “We are reviewin the Inspector General’s report and determiningt the appropriate course of actiojn for otheremployees involved,” Director Hugh Quill said. Investigators also looked into anonymous tips thatHolbroook didn’t follow time reportinb policies and refused to pay employeexs for denied vacation time they were permittef to cash in.
The inspector’ss office found some instances of wrongdoing or omissionson Holbrook’sx part and that of the department at large, recommending that the vacation policy itself be reviewed.
The Office of the Statr Inspector General, in a report releasedc Tuesday, outlined an investigation into the specifically the operation that administers the Consolidatefd Omnibus BudgetReconciliation Act, or COBRA, That piece of 1986 federalp legislation allows unemployed workers to buy healthy insurance coverage for up to 18 months. Davif Holbrook, chief of the COBRqA division sincelast year, is the target of the state’e effort to fire him after investigators said hundredw of COBRA payment checksa went missing under his watch. Investigators found more than 500 about 200 more thanoriginallyy thought, valued at abouft $214,000 in a credenza in Holbrook’s officre on April 10.
Holbrook, 45, by that time was on paid administrativde leave and no longef had anoffice key. He denied any knowledge of the checka or how they got intohis office. Accordingh to the report, it was unclear if he was purposefully holdingthe checks. The department said Tuesdayg therewas “no indication that premium fundsz were misappropriated.” A key factor behind the missinf checks, the probe was a “dual accounting that was employed because the departmeny opted not to switch its COBRAz records to a new Ohio Administrative Knowledge System, or OAKS, aimedx at improving operations.
That decision, combinedr with the retirement ofthe division’w former chief, triggered what the report callef a “disaster” in The probe also found Holbrook, who once worke in the state Department of Natural Resourcees and Department of Youth Services, had a records of inappropriate conduct in state jobs that was describexd as a “pattern of dishones behavior.” At the Administrativ e Services Department, he earned a base annual wage of The department in a statemenft Tuesday said it has put in place stronger controlsw on COBRA processing, specifically switching to and worked with those affecte d by the misplaced checks.
The state probde had recommended changes to COBRA processing operationws along withan audit. The Department of Administrative Servicesx also indicated disciplinary actions might notbe over. “We are reviewin the Inspector General’s report and determiningt the appropriate course of actiojn for otheremployees involved,” Director Hugh Quill said. Investigators also looked into anonymous tips thatHolbroook didn’t follow time reportinb policies and refused to pay employeexs for denied vacation time they were permittef to cash in.
The inspector’ss office found some instances of wrongdoing or omissionson Holbrook’sx part and that of the department at large, recommending that the vacation policy itself be reviewed.
Monday, September 10, 2012
The special one - Herald Scotland
ejoxot.wordpress.com
The special one Herald Scotland Instead of finalising preparations for the new Scottish Football Association performance school in Dundee, Ian Cathro was watching his new club, Rio Ave, defeat Real Valladolid, from Spain's La Liga, in a pre-season friendly. At the age of just 26 ... |
Sunday, September 9, 2012
Amelia Boynton Robinson, 101-Year-Old Voting Rights Activist, Attends The ... - Huffington Post
lehoquvuhu.wordpress.com
Amelia Boynton Robinson, 101-Year-Old Voting Rights Activist, Attends The ... Huffington Post CHARLOTTE, N.C. -- On Thursday afternoon, an old lady in a wheelchair and her caregiver waited near the exit of the convention center here, delayed from their next stop by one of the week's intermittent downpours. The woman in the wheelchair was Amelia ... Delegates vow to fight against voter ID At 101 years voters rights activist still on the case |
Friday, September 7, 2012
Asia stocks drift ahead of ECB meeting - Boston.com
sasutezew.blogspot.com
Asia stocks drift ahead of ECB meeting Boston.com So there's probably an inclination for the markets to drift until a lead comes in from the macro side,'' said Lorraine Tan, director at Standard & Poor's equity research in Singapore. She said she didn't expect a big improvement in key economic data ... |
Thursday, September 6, 2012
Census: American Internet use surges - Business First of Louisville:
azajir.wordpress.com
That's according to a report released Wednesday bythe , which also showss that 62 percent of the nation's households report using the Internett at home in 2007, an 18 percengt increase from 1997. Among households usinh the netin 2007, 82 percent reportesd using a high-speed connection, and 17 percent used a dial-up connection. “As access to high spees connections have become more so too have the numberf of people that connect to the Internegtat home,” said Thom File, a statistician with the Census Bureauy Housing and Household Economic Statistics Division.
“These data give us a bettetr understanding of who is using the Internet and from New Hampshire had the highest rate of Internet use for those age threwe and older in 2007 at82 percent. Mississippi and West Virgini had the lowest rates of use at abouty52 percent. Internet usage also varied by education and For individuals 25 and older witha bachelor’s degree, 87 percent reported going online from some locatioh in 2007. About half (49 of those with only a high school diploma reported usingfthe Internet, compared with 19 perceng for those without a high school diploma. 69 percent of whites lived in householdsw withInternet use.
The same was true for 51 percenrtof blacks, 73 percent of Asians and 48 percent of
That's according to a report released Wednesday bythe , which also showss that 62 percent of the nation's households report using the Internett at home in 2007, an 18 percengt increase from 1997. Among households usinh the netin 2007, 82 percent reportesd using a high-speed connection, and 17 percent used a dial-up connection. “As access to high spees connections have become more so too have the numberf of people that connect to the Internegtat home,” said Thom File, a statistician with the Census Bureauy Housing and Household Economic Statistics Division.
“These data give us a bettetr understanding of who is using the Internet and from New Hampshire had the highest rate of Internet use for those age threwe and older in 2007 at82 percent. Mississippi and West Virgini had the lowest rates of use at abouty52 percent. Internet usage also varied by education and For individuals 25 and older witha bachelor’s degree, 87 percent reported going online from some locatioh in 2007. About half (49 of those with only a high school diploma reported usingfthe Internet, compared with 19 perceng for those without a high school diploma. 69 percent of whites lived in householdsw withInternet use.
The same was true for 51 percenrtof blacks, 73 percent of Asians and 48 percent of
Tuesday, September 4, 2012
Gatland seeks his own piece of British Lions folklore - Chicago Tribune
tenamup.wordpress.com
Stuff.co.nz | Gatland seeks his own piece of British Lions folklore Chicago Tribune Gatland seeks his own piece of British Lions folklore. Email · print. 1; 2 · next; | single page. Josh Reich Reuters. 10:14 a.m. CDT, September 4, 2012. LONDON (Reuters) - As a wide-eyed youngster in New Zealand, Warren Gatland could not believe the ... Kiwi Gatland seeks piece of Lions folklore Gatland seeks own piece of British Lions folklore |
Monday, September 3, 2012
Bauer Financial issues Q1 credit union ratings - Business First of Columbus:
ibitasony.wordpress.com
The company uses federal regulatory data to rate crediyt unions based oncapital ratio, profit/loss trend, delinquent loans and othere factors. Bauer's rating ranks from a high of 5 star s to a low of 0 Of the 10 largest South Floridqa credit unions by six maintaineda five-star (superior) rating: IBM Southeastt Employees Credit Union and Brightstar Credity Union held on to their four staras (excellent) in the first quarter. They had been downgradec from five stars in thethird quarter. Priority One Credit Union in Sunrise fell from to three stars from four stars in the first quarterwith 69.9 million in assets, 1.6 percent of whicjh were nonperforming.
, South Florida’s second-largesyt credit union with $738 million in assets, held on to its threwe stars in thefirst quarter. It was downgrades to three stars (adequate) from four stars in the fourthj quarter. The Pembroke Pines-based credit union counted 1.74 percent of its assetas as nonperforming. First Choice in West Palm Beacj also hadthree , the largest in South Florida with $1.62 billion in remained the only credit unioh in the state rated zero stars by The Miramar-based credit union counted 8.6 percent of its assets as nonperforming.
It was placed into conservatorship by Florida regulators on April 24 afterd heavy losses and the ousted its Space Coast Credit Union has shown an in acquirinbEastern Financial.
The company uses federal regulatory data to rate crediyt unions based oncapital ratio, profit/loss trend, delinquent loans and othere factors. Bauer's rating ranks from a high of 5 star s to a low of 0 Of the 10 largest South Floridqa credit unions by six maintaineda five-star (superior) rating: IBM Southeastt Employees Credit Union and Brightstar Credity Union held on to their four staras (excellent) in the first quarter. They had been downgradec from five stars in thethird quarter. Priority One Credit Union in Sunrise fell from to three stars from four stars in the first quarterwith 69.9 million in assets, 1.6 percent of whicjh were nonperforming.
, South Florida’s second-largesyt credit union with $738 million in assets, held on to its threwe stars in thefirst quarter. It was downgrades to three stars (adequate) from four stars in the fourthj quarter. The Pembroke Pines-based credit union counted 1.74 percent of its assetas as nonperforming. First Choice in West Palm Beacj also hadthree , the largest in South Florida with $1.62 billion in remained the only credit unioh in the state rated zero stars by The Miramar-based credit union counted 8.6 percent of its assets as nonperforming.
It was placed into conservatorship by Florida regulators on April 24 afterd heavy losses and the ousted its Space Coast Credit Union has shown an in acquirinbEastern Financial.
Sunday, September 2, 2012
Right90 gets $10M in third round - Silicon Valley / San Jose Business Journal:
grachevakautawil.blogspot.com
The Foster City-based sales forecasting company has takebin $27 million to date. New investor led the and existing VCfunders , and contributed. Foundedr and CEO Kim Orumchian, said Right90 has tripler its customers in the past year and has pickedd up customers suchas Thomson, Seagate and SRS Labs. “We’re growing pretty rapidly and we’re gettintg the word out about what we Orumchian said. He said the companuy sells software asa service, which predictzs sales using a “bottoms-up” approach rather than going with top-down The “90” in the company’s name signifies the numbee of days in a fiscal and how it seeks to make it right everyy time.
Three-quarters of the company’s business comes from smalp to medium-sized firms making under $300 milliom in revenue. Right90 provides updatee forecast information based on individualsales metrics, so that as employees input details, managers can spot trends or debunmk assumptions. “When you really roll up the Orumchian said, “sometimes the data contradict s theprevailing opinion, which helpsd you better track your business.” The companyh has 43 employees and was founded in 2003.
The Foster City-based sales forecasting company has takebin $27 million to date. New investor led the and existing VCfunders , and contributed. Foundedr and CEO Kim Orumchian, said Right90 has tripler its customers in the past year and has pickedd up customers suchas Thomson, Seagate and SRS Labs. “We’re growing pretty rapidly and we’re gettintg the word out about what we Orumchian said. He said the companuy sells software asa service, which predictzs sales using a “bottoms-up” approach rather than going with top-down The “90” in the company’s name signifies the numbee of days in a fiscal and how it seeks to make it right everyy time.
Three-quarters of the company’s business comes from smalp to medium-sized firms making under $300 milliom in revenue. Right90 provides updatee forecast information based on individualsales metrics, so that as employees input details, managers can spot trends or debunmk assumptions. “When you really roll up the Orumchian said, “sometimes the data contradict s theprevailing opinion, which helpsd you better track your business.” The companyh has 43 employees and was founded in 2003.
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