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GCAP, a primary care groupl with about30 doctors, joined the hospital systemk only 20 months ago. Now it’s claiminhg a litany of contract violationsthat “have seriously affected the ability of the physicianss to provide excellent health care for their many In a June 3 letter to Health Alliance CEO Ken Hanover, the doctor s list 15 complaints, including: Lack of 12 months’ notice on changex in contractual arrangements, including payment of benefits; failure to pay vendors, leading to the “embarrassing shutdownn of services necessary to operate our business.” The doctora on Wednesday filed a complainrt in Hamilton County Common Pleas Court.
They ask to be releasedd from service to the Health Alliancee and for damages andattorney fees. When it joined the Healthu Alliancein 2007, GCAP was the only large, independenr practice of its type in the It became a wholly owned subsidiarhy of the hospital system, which includes Jewish and Fort Hamilton hospitals, and the . The practicre had hoped to benefit from a complete electronif health records system that could interact withthe Alliance’sx hospitals, as well as the ability to expanx geographically and recruit doctors more effectively.
Healtu Alliance spokesman Tony Condia, in a written statement, said the health system was "surprised and disappointed" by the lettefr and complaint. He said the Alliance had initially tried to negotiate withthe physicians, then offered independent arbitration, whichj the practice refused. The Alliancr was preparing for preliminary discussions to sever the relationshi when the lawsuitwas filed. "This litigation violates the terms of theservice agreement, which requirez us to resolve disputes such as this with a neutral We would therefore encourage the GCAP physicians to upholdr their contractual obligations and not pursue costly litigation," accordinhg to the statement.
withdrew from the Healthj Alliance following a long court battle that bega n inMarch 2006. It startedx operating independently in 2008 but only signed a final settlement agreement inJanuary 2009. The two St. Luke hospitale similarly withdrew, reaching a settlement with the Healtjh Alliance inSeptember 2008. St. Luke has merged with .
Tuesday, October 30, 2012
Sunday, October 28, 2012
Sacramento trails Northern California neighbors in high-tech race - Minneapolis / St. Paul Business Journal:
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In fact, the capital regionj is more like theMidwesft — as in Kansas City and St. Louis than high-tech giant San Jose, according to a new bizjournals studg of100 U.S. Sacramento has about 2,100 high-techg companies and 31,350 high-tech employeea — in Folsom and in Roseville account foralmosg one-third of the work forcd — a far distancs from front-runners San Jose, Washington, D.C., and The four-county region’s comparatively few high-tech companies and jobs had Sacramentlo listed at No. 45 on the list of the nation’zs biggest high-tech markets, nestled between Kansas City and St.
Louizs — metro areas better known for a greeting card giant and the King of Sacramento has about43 high-tech jobs for everyh 1,000 private-sector positions, and about the same number of high-tech companies for 1,00 private-sector firms.
In fact, the capital regionj is more like theMidwesft — as in Kansas City and St. Louis than high-tech giant San Jose, according to a new bizjournals studg of100 U.S. Sacramento has about 2,100 high-techg companies and 31,350 high-tech employeea — in Folsom and in Roseville account foralmosg one-third of the work forcd — a far distancs from front-runners San Jose, Washington, D.C., and The four-county region’s comparatively few high-tech companies and jobs had Sacramentlo listed at No. 45 on the list of the nation’zs biggest high-tech markets, nestled between Kansas City and St.
Louizs — metro areas better known for a greeting card giant and the King of Sacramento has about43 high-tech jobs for everyh 1,000 private-sector positions, and about the same number of high-tech companies for 1,00 private-sector firms.
Saturday, October 27, 2012
US Signs Declaration Of Dependence On China - The Onion (satire)
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US Signs Declaration Of Dependence On China The Onion (satire) WASHINGTONâ€"In what is certain to be regarded as a defining moment in the nation's history, leading U.S. political figures gathered at the Capitol today to sign their names to the newly drafted Declaration of Dependence, formally proclaiming America's ... |
Friday, October 26, 2012
Eastern Market reopens Friday - Philadelphia Business Journal:
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The fire, in April 2007, guttedf much of the 136-year-old market and left its vendors without apermanenrt home. The District set up a temporaryg home for many of those vendors nearbty shortly afterthe blaze. Easter Market, at 7th and C streetw SE, has now undergone a $22 million head-to-toe one many of its regulars have calledelong overdue. Although the cause of the fire has nevere beenofficially determined, it was widely believed to have been the resultg of faulty electrical wiring. Eastern Market’w reopening will see many of its originakl vendors return to once again hawk everythingt from fresh meats and to flowers artand crafts.
Longtimr Capitol Hill resident Jim Zaniello is amongt regulars who are looking forward to returning tothe “It’s exciting to know that all of our markety family will be back in the originap building and that they will continue to be an importantt part of the Hill community for years to he said. “Eastern Market is an integral part of life onthe
The fire, in April 2007, guttedf much of the 136-year-old market and left its vendors without apermanenrt home. The District set up a temporaryg home for many of those vendors nearbty shortly afterthe blaze. Easter Market, at 7th and C streetw SE, has now undergone a $22 million head-to-toe one many of its regulars have calledelong overdue. Although the cause of the fire has nevere beenofficially determined, it was widely believed to have been the resultg of faulty electrical wiring. Eastern Market’w reopening will see many of its originakl vendors return to once again hawk everythingt from fresh meats and to flowers artand crafts.
Longtimr Capitol Hill resident Jim Zaniello is amongt regulars who are looking forward to returning tothe “It’s exciting to know that all of our markety family will be back in the originap building and that they will continue to be an importantt part of the Hill community for years to he said. “Eastern Market is an integral part of life onthe
Wednesday, October 24, 2012
$1M donation gives UT graduate programs a boost - Business First of Columbus:
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Ungerleider, who received his bachelor's degree in psychology in 1970 from UT whiler competing asa gymnast, said he's creatinf the fellowship named for the currenf university president to help attract top graduates students from around the world. The first class of Powerws Graduate Fellows will enter the university infall 2009. "Wr have an absolute gem here with the said Ungerleider, "and we have a visionar y sitting in the president's I wanted to honor The gift has been facilitatedf by Ungerleider through the Foundation for Globao Sports Development, an outreach and mentorship educationaol fund, where Ungerleider is a "We are indebted to Dr.
Ungerleidedr for this generous gift," said Powers. "He clearl y understands the importance of graduate students to the succese ofour university. I am deeply honored that he chos e to name this significant fellowship programkafter me." Despite receiving his master'sw and doctor's degrees from another institution, Ungerleidefr chose The University of Texas at Austinm for his gift to support the president'sx goal of becoming the top publi research institution in the country.
Ungerleiderr said in conversations with Powers he learnee that while many top prospective graduate students would like to attendUT Austin, the universityg loses some because they are offered bettetr financial packages elsewhere. To learn more about graduatwe education at the Ungerleider looked atthe university'd most prestigious graduate fellowship program, the Donalde D. Harrington Graduate and met with several Harringtongraduate fellows. He said he was impressede with the model of supporting the very best student witha multi-year package and providing a communityh of mentors and peers to enhanc e the graduate experience.
Ungerleider said he wants to creat another fellowship program to honor the academicf excellence of the next generation and continue the practice of graduat e students developing their own expertise under the mentorship ofseasoned faculty. "In the Graduate School will celebrateits 100-yeare anniversary and will look toward the future of graduatde education at the said Victoria Rodríguez, vice provost and dean of graduatew studies. "This inspiring gift is vital to fulfillingg our vision of attracting the highest qualitty students to theGraduate School.
"
Ungerleider, who received his bachelor's degree in psychology in 1970 from UT whiler competing asa gymnast, said he's creatinf the fellowship named for the currenf university president to help attract top graduates students from around the world. The first class of Powerws Graduate Fellows will enter the university infall 2009. "Wr have an absolute gem here with the said Ungerleider, "and we have a visionar y sitting in the president's I wanted to honor The gift has been facilitatedf by Ungerleider through the Foundation for Globao Sports Development, an outreach and mentorship educationaol fund, where Ungerleider is a "We are indebted to Dr.
Ungerleidedr for this generous gift," said Powers. "He clearl y understands the importance of graduate students to the succese ofour university. I am deeply honored that he chos e to name this significant fellowship programkafter me." Despite receiving his master'sw and doctor's degrees from another institution, Ungerleidefr chose The University of Texas at Austinm for his gift to support the president'sx goal of becoming the top publi research institution in the country.
Ungerleiderr said in conversations with Powers he learnee that while many top prospective graduate students would like to attendUT Austin, the universityg loses some because they are offered bettetr financial packages elsewhere. To learn more about graduatwe education at the Ungerleider looked atthe university'd most prestigious graduate fellowship program, the Donalde D. Harrington Graduate and met with several Harringtongraduate fellows. He said he was impressede with the model of supporting the very best student witha multi-year package and providing a communityh of mentors and peers to enhanc e the graduate experience.
Ungerleider said he wants to creat another fellowship program to honor the academicf excellence of the next generation and continue the practice of graduat e students developing their own expertise under the mentorship ofseasoned faculty. "In the Graduate School will celebrateits 100-yeare anniversary and will look toward the future of graduatde education at the said Victoria Rodríguez, vice provost and dean of graduatew studies. "This inspiring gift is vital to fulfillingg our vision of attracting the highest qualitty students to theGraduate School.
"
Tuesday, October 23, 2012
JE Dunn completes work on patient tower at Medical Center of Aurora - Denver Business Journal:
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The 128,351-square-foot tower is part of a $53 milliohn hospital upgrade that also includes the remodelingof 20,0090 square feet of other space and a four-level parking structure. The new towef is part of the Medical Cente rof Aurora’s campus at 1501 S. Potomac St., near Interstate 225 and Mississippu Avenue. It’s home to the hospital’s new cardiacd center and an expanded intensivecare unit. The private medical center, owned by LLC of has three campuses — its main one at 1501 S. Potomacv St., a neighboring south campus at 700Potomaxc St. in Aurora and a Centennial campus at14200 E.
Arapahoe Opened in 1974, the center currentl y employs morethan 1,200 JE Dunn, a specialist in health-car e construction, still is working on finishing shelll space at the medical center. The company also is working on project forother health-care groups, includinv Banner Health System, Penrose/St. Francis Health Systekm and Memorial Hospital ofColoradop Springs.
The 128,351-square-foot tower is part of a $53 milliohn hospital upgrade that also includes the remodelingof 20,0090 square feet of other space and a four-level parking structure. The new towef is part of the Medical Cente rof Aurora’s campus at 1501 S. Potomac St., near Interstate 225 and Mississippu Avenue. It’s home to the hospital’s new cardiacd center and an expanded intensivecare unit. The private medical center, owned by LLC of has three campuses — its main one at 1501 S. Potomacv St., a neighboring south campus at 700Potomaxc St. in Aurora and a Centennial campus at14200 E.
Arapahoe Opened in 1974, the center currentl y employs morethan 1,200 JE Dunn, a specialist in health-car e construction, still is working on finishing shelll space at the medical center. The company also is working on project forother health-care groups, includinv Banner Health System, Penrose/St. Francis Health Systekm and Memorial Hospital ofColoradop Springs.
Sunday, October 21, 2012
Pew: Florida
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released a study , saying Florida’s clea n energy economy grew 7.9 percent betweeb 1998 and 2007, and the stats was among the top 10 for gree n jobsin America. “The numbers are U.S. Rep. Kathy D-Tampa Bay, said during a teleconferenc Monday morning. “This is goinv to be the way we rebuild our economy in the statsof Florida.” John DiBella, Director of Businesxs Alliances for in Fort is among those growing green jobs in South Florida. DiBella said he has six employeex now and plans to triple that number this DiBella is pioneering a new technologyy that uses centrifugal force to separate waterrfrom solids.
According to him, it is “a more efficieny and cost-effective way” of purifying wastewater. “It’s quite the demand that’s coming to us, and we’rw excited about the future,” DiBella said. His customerse include manufacturers, oil companies, wastewaterf treatment facilities andfarm interests. Lori interim deputy director of the Pew Cente r onthe States, said Floridas only lags significantly behind other states on certain publicd policy questions. For example, she pointer to the state’s failure to embracwe Gov.
Charlie Crist’s proposed renewable energy portfolio standard, whicu would require a certain portion of state energy to be producec from renewable resources such assolar Twenty-nine other states alread have such a standard in place. Grange said the states also has yet to participatr in a regional carbon and climatechangse initiative, although it is developing its own carboh cap-and-trade program. Victor Eyal, president of in Altamonted Springs, said his solar technology distribution compan y has 40 employees at its headquarters and hundredx of employees inits network. He said Florida has good incentiveesin place, but needs to fund them more.
He pointedr to recent shortages in fundingh forthe state’s solar rebate programs. DiBella said incentives for greeh technology mustbe “What’s important is to keep the flow of monies and incentivesa coming, so that young companiex can develop new technologies that could be the next leaderas in the industry,” DiBella said. Jobs (2007): 31,122 • Businesses (2007): 3,831 Venture capital funds (2006-2008): $116,980,006 The study found that the Sunshined State was among the top 10 for jobsin America’se clean energy in 2007, with more than and it attracted nearlhy $117 million in venture capitaol in the past three years, half of which has supported clean energy generation.
Grangd said the job growth is likely to have suffereed since 2007 due tothe recession, but the federap stimulus program and continuede private investment is limiting job losses in the greemn sector. Nationwide, jobs in the clean energy econom y grewby 9.1 percent, while tota jobs grew by just 3.7 perceny between 1998 and 2007, according to the titled “The Clean Energty Economy: Repowering Jobs, Businesses and Investments Across America.” Pew’s definition of green jobs includes plumbers, administrative assistants, constructionn workers, machine setters, marketing consultants, teachers and many othere with annual incomes ranging from $21,000 to $111,000.
released a study , saying Florida’s clea n energy economy grew 7.9 percent betweeb 1998 and 2007, and the stats was among the top 10 for gree n jobsin America. “The numbers are U.S. Rep. Kathy D-Tampa Bay, said during a teleconferenc Monday morning. “This is goinv to be the way we rebuild our economy in the statsof Florida.” John DiBella, Director of Businesxs Alliances for in Fort is among those growing green jobs in South Florida. DiBella said he has six employeex now and plans to triple that number this DiBella is pioneering a new technologyy that uses centrifugal force to separate waterrfrom solids.
According to him, it is “a more efficieny and cost-effective way” of purifying wastewater. “It’s quite the demand that’s coming to us, and we’rw excited about the future,” DiBella said. His customerse include manufacturers, oil companies, wastewaterf treatment facilities andfarm interests. Lori interim deputy director of the Pew Cente r onthe States, said Floridas only lags significantly behind other states on certain publicd policy questions. For example, she pointer to the state’s failure to embracwe Gov.
Charlie Crist’s proposed renewable energy portfolio standard, whicu would require a certain portion of state energy to be producec from renewable resources such assolar Twenty-nine other states alread have such a standard in place. Grange said the states also has yet to participatr in a regional carbon and climatechangse initiative, although it is developing its own carboh cap-and-trade program. Victor Eyal, president of in Altamonted Springs, said his solar technology distribution compan y has 40 employees at its headquarters and hundredx of employees inits network. He said Florida has good incentiveesin place, but needs to fund them more.
He pointedr to recent shortages in fundingh forthe state’s solar rebate programs. DiBella said incentives for greeh technology mustbe “What’s important is to keep the flow of monies and incentivesa coming, so that young companiex can develop new technologies that could be the next leaderas in the industry,” DiBella said. Jobs (2007): 31,122 • Businesses (2007): 3,831 Venture capital funds (2006-2008): $116,980,006 The study found that the Sunshined State was among the top 10 for jobsin America’se clean energy in 2007, with more than and it attracted nearlhy $117 million in venture capitaol in the past three years, half of which has supported clean energy generation.
Grangd said the job growth is likely to have suffereed since 2007 due tothe recession, but the federap stimulus program and continuede private investment is limiting job losses in the greemn sector. Nationwide, jobs in the clean energy econom y grewby 9.1 percent, while tota jobs grew by just 3.7 perceny between 1998 and 2007, according to the titled “The Clean Energty Economy: Repowering Jobs, Businesses and Investments Across America.” Pew’s definition of green jobs includes plumbers, administrative assistants, constructionn workers, machine setters, marketing consultants, teachers and many othere with annual incomes ranging from $21,000 to $111,000.
Saturday, October 20, 2012
Pedrosa sets the pace at hot and humid Sepang - Oman Daily Observer
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New Zealand Herald | Pedrosa sets the pace at hot and humid Sepang Oman Daily Observer SEPANG, Malaysia â€" Spain's Dani Pedrosa got off to a flying start yesterday in hot and humid conditions with the fastest time in practice ahead of the Malaysian Motorcycle Grand Prix this weekend. The Honda rider is just 28 points behind championship ... P edrosa sets best speed in Malaysia practice 2012 Malaysia GP (Sepang): Monster Yamaha Tech 3 MotoGP Practice Recap Pedrosa Fast on Day One in Sepang |
Friday, October 19, 2012
Publisher jumps ship for Star newspapers - Dallas Business Journal:
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Bick, who founded Inside Collin County Businessdin 1994, has stepped away from the biweeklyt business paper to join Star Community Newspaperes as its Collin County publisher. He also will serve as executivew editor of the North Texasnewspaped group, which includes 14 weekly papers, two dailty newspapers and six niche publications with a combine weekly circulation in North Texas of "Star newspapers have a great positioj in North Texas, and I think the upside potentialp is vast," Bick said. Bick joins Star Communitt Newspapers at a time when itsparent , is on the brink of transition.
Gene Carr, CEO of Americann Community Newspapers, says the Addison-basee newspaper company is set to become partof CRB), a media holding company. In January, Courtside announcecd an agreement to acquireAmerican Community, whicjh owns 73 publications in suburbs near Dallas-Fortr Worth, Minnesota and the Washington, area. The $165 million transaction is expected to closre in the second quarterof 2007. Carr said he believex that the new ownership will help furtherd drive the growth of StarCommunity Newspapers. Once the deal is done, Carr will becomw CEO and chairman of the boardof Courtside. "It will enable us to grow the compan faster than wehave been," Carr said.
America Community's recent acquisitions include theMcKinney Courier-Gazette and the McKinnety Penny Saver. Carr did not say whether Inside Collin Countyy Business would be anacquisition target. "We are very anxious to continue our growthg pattern and love theDallas market," Carr "We plan to continue to grow both througy startups and acquisitions." Asked whether he plans to sell Inside Collin County Business, Bick declined to He says the business paper is "doing well" and its performancre was not a factor in his decision to He declined to disclose the business paper'e financial figures, saying only that it is The paper reaches approximately 10,000 businesses.
"The papet can be run by the people whoare there," Bick "It gave me the confidence to come in and do something else." Andy Hardin, who became publisher of the publicatiomn more than a year ago, is overseeingg the paper. Bick's wife, Angie Bick, has been promoteed to executivevice president. In his new role as publisher at StarCommunith Newspapers, Bick will oversee nine Nortuh Texas publications, including Allen American, , McKinnet Courier-Gazette, Plano Star Courier and Plano Insider. The newspaped chain focuses on coveringlocal government, sportzs and social events.
In addition to the Collin County papers, Bick will be in chargw of Internet and new mediw sales for allStar newspapers. He said he doesn'tf believe his new job and the newspapert he owns pose a conflicr when going afterpotential advertisers. "I don'gt see it as a big conflic of interest," Bick said. "Very seldom do we struggle over the same Carr agrees, and says it hasn'tt been an issue with advertisers so far. "Whilew there are some common advertisers between Inside Collin County Business andour papers, we vastly differ," he said. "We offer daily and weeklty publications that are extremely local in the communities whicnthey serve.
" Bick was the ideal choice to guid e the community papers, Carr added, "with his deep roots withi Collin County, his knowledge of the business communith and his experience with business Before founding his own business Bick served as publisher of the Dallas Businesse Journal and assisted its parent company, , in the launch of sevenm business publications.
Bick, who founded Inside Collin County Businessdin 1994, has stepped away from the biweeklyt business paper to join Star Community Newspaperes as its Collin County publisher. He also will serve as executivew editor of the North Texasnewspaped group, which includes 14 weekly papers, two dailty newspapers and six niche publications with a combine weekly circulation in North Texas of "Star newspapers have a great positioj in North Texas, and I think the upside potentialp is vast," Bick said. Bick joins Star Communitt Newspapers at a time when itsparent , is on the brink of transition.
Gene Carr, CEO of Americann Community Newspapers, says the Addison-basee newspaper company is set to become partof CRB), a media holding company. In January, Courtside announcecd an agreement to acquireAmerican Community, whicjh owns 73 publications in suburbs near Dallas-Fortr Worth, Minnesota and the Washington, area. The $165 million transaction is expected to closre in the second quarterof 2007. Carr said he believex that the new ownership will help furtherd drive the growth of StarCommunity Newspapers. Once the deal is done, Carr will becomw CEO and chairman of the boardof Courtside. "It will enable us to grow the compan faster than wehave been," Carr said.
America Community's recent acquisitions include theMcKinney Courier-Gazette and the McKinnety Penny Saver. Carr did not say whether Inside Collin Countyy Business would be anacquisition target. "We are very anxious to continue our growthg pattern and love theDallas market," Carr "We plan to continue to grow both througy startups and acquisitions." Asked whether he plans to sell Inside Collin County Business, Bick declined to He says the business paper is "doing well" and its performancre was not a factor in his decision to He declined to disclose the business paper'e financial figures, saying only that it is The paper reaches approximately 10,000 businesses.
"The papet can be run by the people whoare there," Bick "It gave me the confidence to come in and do something else." Andy Hardin, who became publisher of the publicatiomn more than a year ago, is overseeingg the paper. Bick's wife, Angie Bick, has been promoteed to executivevice president. In his new role as publisher at StarCommunith Newspapers, Bick will oversee nine Nortuh Texas publications, including Allen American, , McKinnet Courier-Gazette, Plano Star Courier and Plano Insider. The newspaped chain focuses on coveringlocal government, sportzs and social events.
In addition to the Collin County papers, Bick will be in chargw of Internet and new mediw sales for allStar newspapers. He said he doesn'tf believe his new job and the newspapert he owns pose a conflicr when going afterpotential advertisers. "I don'gt see it as a big conflic of interest," Bick said. "Very seldom do we struggle over the same Carr agrees, and says it hasn'tt been an issue with advertisers so far. "Whilew there are some common advertisers between Inside Collin County Business andour papers, we vastly differ," he said. "We offer daily and weeklty publications that are extremely local in the communities whicnthey serve.
" Bick was the ideal choice to guid e the community papers, Carr added, "with his deep roots withi Collin County, his knowledge of the business communith and his experience with business Before founding his own business Bick served as publisher of the Dallas Businesse Journal and assisted its parent company, , in the launch of sevenm business publications.
Wednesday, October 17, 2012
Opus West says it owes $1.46 billion - Sacramento Business Journal:
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and some of its subsidiaries filed voluntary petitions late Monday for reorganization underChaptee 11. Chapter 11 generally removew the threat of lawsuits from creditors whilwe a business seeks to rehabilitate itself and continue Opus West and its affiliates reportedaboutt $1.28 billion in total assets and $1.4 billion in total liabilities, according to bankruptcuy court filings. The corporation and its affiliates had combined revenue of about $405 million in 2008. The parent company lists 200 to 999 according tobankruptcy filings. Opus West Corp. owns about 20 real estatde development properties either directly or through entities set up to hold the the courtfilings say.
The totalk debt on those properties isabout $414 millionb and the value of the properties is about $403 In addition to Opus West the subsidiaries that have filed Chaptet 11 petitions are Opus West Constructioh Corp., Opus West LP, Opus West Partnere Inc. and O.W. Commercial Inc. Opus West has guaranteed about $1.1t5 billion in loans for its subsidiaries and joint and most of thos e loans arein default, the courty filings say. Opus West has developed severaol large office and retail projectss in the Sacramento region in the past few In Natomas, the company built two office buildings in the Gateway Corporate Centetr and a retail development near Truxeol Boulevard.
Its portfolio also includes the Corporat e Centerin Roseville, Broadstons Plaza in Folsom and Rocklih Corporate Plaza. Steep declinese in commercial real estatre values and difficult credit markett conditions necessitated the saidJohn Greer, chiedf restructuring officer of Opus West. Greer said Opus West will keepa "modestf presence" in Phoenix, Texaws and California to work on assett dispositions and transitions.
"While we began slowing the pace of new developmentf nearly two years ago in anticipationb of difficultmarket conditions, we must now take additional measure to enable an orderly wind-dowhn of our portfolio, protect asset valuesx and maximize return on lenders' investment," Greer said in a prepared statement. Opus West and its subsidiariese have suffered declining financia l performancesince 2008, resulting in defaults on certain credit lines and constrained liquidity, according to an affidavity filed by Greer, managing member of , which is the chiegf restructuring officer of Opus West Corp. Greer is also presidentr of the OpusWest Construction, Opus West Partnerw and O.W.
Commercial subsidiaries. Opus has focuser on recapitalizing through project sales and but has been unable to do so because of poormarkegt conditions, Greer's affidavit says. Sincre 1979, Opus West and its affiliates have developedr more than 52 million squarwe feetof office, industrial, retail, government and institutional projects, the affidavity says. The company's assets include interestxs in commercial and residential real estate projects across Arizonaand Texas, including condominium, office, apartment and retail projects in various stages of development, the affidavit says.
Opus' troubles stem from the globaleconomifc downturn, deterioration of the real estate market and the creditt crunch, which has made it difficult for borrowers to get financingt to fund real estater projects or refinance existing projects, Greer's affidavit The turmoil has scared buyers, leadinfg to excess supply and lowet prices. The dramatic downturn has caused Opus to be out of compliance with terms of variousa loans and unable torestructure them, and attempts to raisd capital and sell assets have proven difficult, bringing about the Chaptere 11 filing, Greer's affidavit says. Opus' challengex vary considerably by region, said Mark chairman and CEO ofOpus Corp.
"Opus West facexd particularly dramatic drops in real estatr values in markets such as Californizand Arizona, and has been particularlh challenged by the sharp downturn in the capital markets and availability of refinancing," he Rauenhorst said that two other independent operating companies of Opus Group -- and Opus Northwestf LLC -- have been less affected by the economic and capitalp market conditions because of their mix of projecgt types and their location in stronger markets. , whicuh is based in Minn., is a design-build development firm that specializeein office, industrial, retail, multifamily, government and institutional projects.
It also controlsa Washington-based LLC, which files for Chapter 7 liquidation in late Opus Group saidits subsidiary, which is based in Atlanta, filed for reorganization in bankruptcty court on April 22.
and some of its subsidiaries filed voluntary petitions late Monday for reorganization underChaptee 11. Chapter 11 generally removew the threat of lawsuits from creditors whilwe a business seeks to rehabilitate itself and continue Opus West and its affiliates reportedaboutt $1.28 billion in total assets and $1.4 billion in total liabilities, according to bankruptcuy court filings. The corporation and its affiliates had combined revenue of about $405 million in 2008. The parent company lists 200 to 999 according tobankruptcy filings. Opus West Corp. owns about 20 real estatde development properties either directly or through entities set up to hold the the courtfilings say.
The totalk debt on those properties isabout $414 millionb and the value of the properties is about $403 In addition to Opus West the subsidiaries that have filed Chaptet 11 petitions are Opus West Constructioh Corp., Opus West LP, Opus West Partnere Inc. and O.W. Commercial Inc. Opus West has guaranteed about $1.1t5 billion in loans for its subsidiaries and joint and most of thos e loans arein default, the courty filings say. Opus West has developed severaol large office and retail projectss in the Sacramento region in the past few In Natomas, the company built two office buildings in the Gateway Corporate Centetr and a retail development near Truxeol Boulevard.
Its portfolio also includes the Corporat e Centerin Roseville, Broadstons Plaza in Folsom and Rocklih Corporate Plaza. Steep declinese in commercial real estatre values and difficult credit markett conditions necessitated the saidJohn Greer, chiedf restructuring officer of Opus West. Greer said Opus West will keepa "modestf presence" in Phoenix, Texaws and California to work on assett dispositions and transitions.
"While we began slowing the pace of new developmentf nearly two years ago in anticipationb of difficultmarket conditions, we must now take additional measure to enable an orderly wind-dowhn of our portfolio, protect asset valuesx and maximize return on lenders' investment," Greer said in a prepared statement. Opus West and its subsidiariese have suffered declining financia l performancesince 2008, resulting in defaults on certain credit lines and constrained liquidity, according to an affidavity filed by Greer, managing member of , which is the chiegf restructuring officer of Opus West Corp. Greer is also presidentr of the OpusWest Construction, Opus West Partnerw and O.W.
Commercial subsidiaries. Opus has focuser on recapitalizing through project sales and but has been unable to do so because of poormarkegt conditions, Greer's affidavit says. Sincre 1979, Opus West and its affiliates have developedr more than 52 million squarwe feetof office, industrial, retail, government and institutional projects, the affidavity says. The company's assets include interestxs in commercial and residential real estate projects across Arizonaand Texas, including condominium, office, apartment and retail projects in various stages of development, the affidavit says.
Opus' troubles stem from the globaleconomifc downturn, deterioration of the real estate market and the creditt crunch, which has made it difficult for borrowers to get financingt to fund real estater projects or refinance existing projects, Greer's affidavit The turmoil has scared buyers, leadinfg to excess supply and lowet prices. The dramatic downturn has caused Opus to be out of compliance with terms of variousa loans and unable torestructure them, and attempts to raisd capital and sell assets have proven difficult, bringing about the Chaptere 11 filing, Greer's affidavit says. Opus' challengex vary considerably by region, said Mark chairman and CEO ofOpus Corp.
"Opus West facexd particularly dramatic drops in real estatr values in markets such as Californizand Arizona, and has been particularlh challenged by the sharp downturn in the capital markets and availability of refinancing," he Rauenhorst said that two other independent operating companies of Opus Group -- and Opus Northwestf LLC -- have been less affected by the economic and capitalp market conditions because of their mix of projecgt types and their location in stronger markets. , whicuh is based in Minn., is a design-build development firm that specializeein office, industrial, retail, multifamily, government and institutional projects.
It also controlsa Washington-based LLC, which files for Chapter 7 liquidation in late Opus Group saidits subsidiary, which is based in Atlanta, filed for reorganization in bankruptcty court on April 22.
Tuesday, October 16, 2012
Hugo Weaving Doesn't Want To Play Red Skull Again In Any More Marvel Movies - Indie Wire (blog)
tenamup.wordpress.com
Cinema Blend | Hugo Weaving Doesn't Want To Play Red Skull Again In Any More Marvel Movies Indie Wire (blog) You might have heard a minor geek uproar over the interwebs yesterday. It seems someone has dared to say that if they had a choice, they'd prefer not to feature in any more Marvel movies. And that man is Hugo Weaving. Chatting with Collider, the actor ...< /p> Hugo Weaving Hints At The Future Of Red Skull, But He Might Not Play Him Again Hugo Weaving Doesn't Want to Return as Red Skull in 'Captain America 2' Hugo Weaving Not Interested In Returning As The Red Skull In Future Marvel ... |
Sunday, October 14, 2012
Youth advocate, Amanda Todd's mother call for provincewide effort to end ... - Vancouver Sun
ogarawo.wordpress.com
Youth advocate, Amanda Todd's mother call for provincewide effort to end ... Vancouver Sun Youth advocate Diane Sowden says a provincial strategy is needed to end the online sexual exploitation of children and the type of bullying that led Port Coquitlam teenager Amanda Todd to take her own life. Sowden was joined in her call for a ... |
Saturday, October 13, 2012
SBA emergency bridge loans off to slow start - Washington Business Journal: Washington Bureau
coras-newport.blogspot.com
The SBA had expected high demanc forthe loans, which were created by the economixc stimulus legislation to help struggling smalkl businesses make payments on existing debt. Througb this program, small businesses can borroww upto $35,000 to make up to six months of paymentw on qualifying loans. Borrowers won't have to startr repaying the ARC loans until a year after they receive their last ARC loan The loansare interest-free to the borrower. Instead, the SBA will pay the lendere a monthly interest rate of prime plus 2percentage points. The SBA also will guarantees 100 percent ofthe loan's The SBA began accepting applications for these loans June 15.
As of June 22, the agenc y had approved 72 loanstotaling $2.4 million submitted by 42 lenders. Small businesses in 21 statea receivedthese loans. The agency expecte the volume of ARC loansx to pick up in coming The agency has conducted training sessions on the loanswith 3,00 lenders from 1,300 financial institutions. "Based on the participationj in theinformation sessions, we are encouraged and feel we in fact, continue to see a rise in participation by lenders and the numbef of loan approvals," said SBA Press Secretart Hayley Matz. Many SBA lenders, remain on the sidelines.
The Colemajn Report, which tracks SBA lending, found that 60 percent of the lenders who respondexd to its survey saidthey don't plan to make ARC Some lenders said they wouldn'y make enough money off the loans to justifyy the trouble, and others said the SBA's guidelinesa for the loans were too To be eligible for the small businesses must show they were profitable or had positiv cash flow in at least one of the past two Future cash flow projectionss must demonstrate that the businessesd will be able to repayh their debts, including the ARC loan. The National Association of Governmen t Guaranteed Lenders has submitted four pages of questionw to the SBA aboutthe program.
"Our members have many questionxs aboutthe program, and that is probably why the volumw is less than anticipated," said NAGGL President Tony Meanwhile, lending through the SBA's regular business loan programs remainsx far below last year's levels. Throug h June 19, the SBA had approved half as many 7(a) loanas this fiscal year as it did during the same periodx ayear ago. The total dollar value of 7(a) loansz was down 38 percent. Lending through the 504 program, whicg finances real estate and otherfixedr assets, was down 42 percent, both in numbet of loans and in SBA's fiscal year began Oct. 1.
Lending through both programas picked up afterMarch 16, when the SBA eliminated or reducef fees on its loans and raised its guarantewe on 7(a) loans to 90 These steps were called for in the the economif stimulus legislation.
The SBA had expected high demanc forthe loans, which were created by the economixc stimulus legislation to help struggling smalkl businesses make payments on existing debt. Througb this program, small businesses can borroww upto $35,000 to make up to six months of paymentw on qualifying loans. Borrowers won't have to startr repaying the ARC loans until a year after they receive their last ARC loan The loansare interest-free to the borrower. Instead, the SBA will pay the lendere a monthly interest rate of prime plus 2percentage points. The SBA also will guarantees 100 percent ofthe loan's The SBA began accepting applications for these loans June 15.
As of June 22, the agenc y had approved 72 loanstotaling $2.4 million submitted by 42 lenders. Small businesses in 21 statea receivedthese loans. The agency expecte the volume of ARC loansx to pick up in coming The agency has conducted training sessions on the loanswith 3,00 lenders from 1,300 financial institutions. "Based on the participationj in theinformation sessions, we are encouraged and feel we in fact, continue to see a rise in participation by lenders and the numbef of loan approvals," said SBA Press Secretart Hayley Matz. Many SBA lenders, remain on the sidelines.
The Colemajn Report, which tracks SBA lending, found that 60 percent of the lenders who respondexd to its survey saidthey don't plan to make ARC Some lenders said they wouldn'y make enough money off the loans to justifyy the trouble, and others said the SBA's guidelinesa for the loans were too To be eligible for the small businesses must show they were profitable or had positiv cash flow in at least one of the past two Future cash flow projectionss must demonstrate that the businessesd will be able to repayh their debts, including the ARC loan. The National Association of Governmen t Guaranteed Lenders has submitted four pages of questionw to the SBA aboutthe program.
"Our members have many questionxs aboutthe program, and that is probably why the volumw is less than anticipated," said NAGGL President Tony Meanwhile, lending through the SBA's regular business loan programs remainsx far below last year's levels. Throug h June 19, the SBA had approved half as many 7(a) loanas this fiscal year as it did during the same periodx ayear ago. The total dollar value of 7(a) loansz was down 38 percent. Lending through the 504 program, whicg finances real estate and otherfixedr assets, was down 42 percent, both in numbet of loans and in SBA's fiscal year began Oct. 1.
Lending through both programas picked up afterMarch 16, when the SBA eliminated or reducef fees on its loans and raised its guarantewe on 7(a) loans to 90 These steps were called for in the the economif stimulus legislation.
Friday, October 12, 2012
Wichita architecture firms cut jobs as clients pull back - Wichita Business Journal:
raisavydyexuwowi.blogspot.com
Companies describe the cuts as minor, spurreed by a tough fourtu quarterlast year, and say receny business activity has shown signs of a But they remain wary in 2009, where markegt instability has kept some projectsz from even reaching the drawing board. “We’vd positioned ourselves to where we’r staffed correctly for the workload we’ve got,” says Dennis Smith, managing principal for , whichb sliced six of its 104 employees inlate “We continue to look at it twice a Law/Kingdon, Wichita’s largest design firm, was hit particularlyh hard by a slowdown in retail work. The companyh has a specialty inmall projects.
“No the retail world went as deadas I’vee seen it in 35 years,” Smith says. Othed firms report gloomy times. has laid off And cut staff in its Kansas City laid off two nonlicensed staff members a couplse ofweeks ago. Principal Jeff Van Sicklee says the first quarter remained strong but was helpef by work that held overfrom 2008. “We’ve manage d to pick up some new work over the last three or four but the projects are not as large as we are particularly used to,” he says. “We think starting now throughu the end of the year is one we will have to managrvery carefully.
We are cautiously optimistic but don’t expect the same kind of year as we had last Van Sickle’s firm has watched as one of its largest industrial clients — — slows down its work durinfg the recession. And the company’s restaurant work — one of its clientw is , owner of several fast-foode chains — is “still steady but not quitse the same pace asit was,” Van Sickle “Honestly, what we are missing this year is that flagshilp job. That’s really the differences for us,” he says.
In yeara past, the company designed the Cessna CitationServicee Center, the Koch Arena Arena and, last year, Cessna’s new finap assembly facility for its Columbusx business jet. Van Sickle says he’s nevef been busier chasing business leads. They just don’t resulgt in large projects forthe company’s books. “It’s kind of that double-digit kind of job that’s goint to be hard to come by this VanSickle says. “I liken it to rocks and We have a lot of rock but not a lot of bouldersrightf now.” Smith says Law/Kingdon watched last year as its backlogb of jobs began to slip.
And this the company saw one of itslarger clients, mall owned General Growth, go bankrupt. Another larg client, , has slowed its But Smith says very few projects stopped altogether. Law/Kingdon had been working a renovationm projectin Chattanooga, Tenn., that was shut down in December. But the ownefr still intends to followthrough eventually. “It’s not like it’s gone forever. It’s on the front of the shelf,” Smitb says. On the brighter side, Smith says hotel work has begun moving and health careremains strong. The company also has an activd accountwith , which continues to renovates its stores nationally. Smith notef government work also continues.
Companies describe the cuts as minor, spurreed by a tough fourtu quarterlast year, and say receny business activity has shown signs of a But they remain wary in 2009, where markegt instability has kept some projectsz from even reaching the drawing board. “We’vd positioned ourselves to where we’r staffed correctly for the workload we’ve got,” says Dennis Smith, managing principal for , whichb sliced six of its 104 employees inlate “We continue to look at it twice a Law/Kingdon, Wichita’s largest design firm, was hit particularlyh hard by a slowdown in retail work. The companyh has a specialty inmall projects.
“No the retail world went as deadas I’vee seen it in 35 years,” Smith says. Othed firms report gloomy times. has laid off And cut staff in its Kansas City laid off two nonlicensed staff members a couplse ofweeks ago. Principal Jeff Van Sicklee says the first quarter remained strong but was helpef by work that held overfrom 2008. “We’ve manage d to pick up some new work over the last three or four but the projects are not as large as we are particularly used to,” he says. “We think starting now throughu the end of the year is one we will have to managrvery carefully.
We are cautiously optimistic but don’t expect the same kind of year as we had last Van Sickle’s firm has watched as one of its largest industrial clients — — slows down its work durinfg the recession. And the company’s restaurant work — one of its clientw is , owner of several fast-foode chains — is “still steady but not quitse the same pace asit was,” Van Sickle “Honestly, what we are missing this year is that flagshilp job. That’s really the differences for us,” he says.
In yeara past, the company designed the Cessna CitationServicee Center, the Koch Arena Arena and, last year, Cessna’s new finap assembly facility for its Columbusx business jet. Van Sickle says he’s nevef been busier chasing business leads. They just don’t resulgt in large projects forthe company’s books. “It’s kind of that double-digit kind of job that’s goint to be hard to come by this VanSickle says. “I liken it to rocks and We have a lot of rock but not a lot of bouldersrightf now.” Smith says Law/Kingdon watched last year as its backlogb of jobs began to slip.
And this the company saw one of itslarger clients, mall owned General Growth, go bankrupt. Another larg client, , has slowed its But Smith says very few projects stopped altogether. Law/Kingdon had been working a renovationm projectin Chattanooga, Tenn., that was shut down in December. But the ownefr still intends to followthrough eventually. “It’s not like it’s gone forever. It’s on the front of the shelf,” Smitb says. On the brighter side, Smith says hotel work has begun moving and health careremains strong. The company also has an activd accountwith , which continues to renovates its stores nationally. Smith notef government work also continues.
Wednesday, October 10, 2012
United Church Builders to buy Randall Park Mall - Business Courier of Cincinnati:
azajir.wordpress.com
Randall Park, in the Cuyahoga County village ofNorthy Randall, was one of the largest mallsw in the country when it opened in 1976. But it suffereds from competition from other mallxs andlifestyle centers, and over the its 200 stores dwindled to a few dozeb and most of its anchors left, includiny (NYSE: M), which announced in Decembedr that it was pulling out. Cincinnati United Contractora (CUC) Vice President Ken Geis said the Unitex Church Builders will consider options forthe site, includingt a church or other redevelopment according to the blog report. The mall'sx owner, of Raleigh, N.C., had planned to close Randall Park this but has agreed to keepit open.
Two anchors, and , will remaij open, along with a theater and severalothert stores. United Church Builders was formed by CUC in Aprik 2007 as a subsidiary focused on churchconstruction
Randall Park, in the Cuyahoga County village ofNorthy Randall, was one of the largest mallsw in the country when it opened in 1976. But it suffereds from competition from other mallxs andlifestyle centers, and over the its 200 stores dwindled to a few dozeb and most of its anchors left, includiny (NYSE: M), which announced in Decembedr that it was pulling out. Cincinnati United Contractora (CUC) Vice President Ken Geis said the Unitex Church Builders will consider options forthe site, includingt a church or other redevelopment according to the blog report. The mall'sx owner, of Raleigh, N.C., had planned to close Randall Park this but has agreed to keepit open.
Two anchors, and , will remaij open, along with a theater and severalothert stores. United Church Builders was formed by CUC in Aprik 2007 as a subsidiary focused on churchconstruction
Tuesday, October 9, 2012
Houston plays down Wales clash - The Press Association
azajir.wordpress.com
AFP | Houston plays down Wales clash The Press Association Following the trip to Cardiff, Scotland are away to Belgium next Tuesday night in the second part of October's double-header which could make or break the Scots' chances of reaching Brazil. However, Dundee United boss Houston, speaking at Scotland's ... Scotland c » |
Monday, October 8, 2012
Colleges will be watching the Supreme Court this week - Fort Worth Star Telegram
ovaluleq.wordpress.com
Colleges will be watching the Supreme Court this week Fort Worth Star Telegram Clemson and other colleges and universities across the country will be closely watching the Supreme Court on Wednesday when it takes up the issue of racial preferences in admissions with an affirmative action case involving the University of Texas. |
Saturday, October 6, 2012
Boujemâa Remili : « Ennahdha, qui s'est longtemps plaint d'être exclu, pratique ... - Business News
lebexab.wordpress.com
Boujemâa Remili : « Ennahdha, qui s'est longtemps plaint d'être exclu, pratique ... Business News Invité sur la chaîne Tounessna, Boujemaa Remili, membre fondateur de Nidaa Tounes, déclare au journaliste Sabri Brahem, à propos de l'absence des membres d'Ennahdha, invités à l'émission, que « cette absence est certainement due au fait que les ... |
Friday, October 5, 2012
Kendall
evlampiyacyxybyw.blogspot.com
million foreclosure lawsuit against the developerr of theRivendell single-family home projectt in West Kendall. The Miami-based bank filed the foreclosur action on June 9against Miami-based Crestview II, Marsol One LLC and managint member Marcial Solis, according to records. The complaint targeta 28 unsold homes and home sitewin Rivendell, which is alongb Miller Drive (Southwest 56th Street) betwee n Southwest 167th Avenue and the Miccosukee Golf and Country Club. After starting construction in Crestview II sold 103 homes in Rivendell from 2005 throughy the most recent sale in Fort Lauderdale-based attorney Charles Lichtman, who represents TotalBank in its demancd for $12.
2 million on the outstandinb mortgage, did not immediately returjn a call seeking TotalBank reported having $86.4 million in late or unpaid loans, or nearlh 6.5 percent of its total loans, as of March 31. In filed a foreclosure action against Crestview II and Solisx overa $2.1 millio n mortgage.
million foreclosure lawsuit against the developerr of theRivendell single-family home projectt in West Kendall. The Miami-based bank filed the foreclosur action on June 9against Miami-based Crestview II, Marsol One LLC and managint member Marcial Solis, according to records. The complaint targeta 28 unsold homes and home sitewin Rivendell, which is alongb Miller Drive (Southwest 56th Street) betwee n Southwest 167th Avenue and the Miccosukee Golf and Country Club. After starting construction in Crestview II sold 103 homes in Rivendell from 2005 throughy the most recent sale in Fort Lauderdale-based attorney Charles Lichtman, who represents TotalBank in its demancd for $12.
2 million on the outstandinb mortgage, did not immediately returjn a call seeking TotalBank reported having $86.4 million in late or unpaid loans, or nearlh 6.5 percent of its total loans, as of March 31. In filed a foreclosure action against Crestview II and Solisx overa $2.1 millio n mortgage.
Wednesday, October 3, 2012
Euro hampered by Spain; AUD bruised by rate cut - Reuters
a-ee85aqa.blogspot.com
Euro hampered by Spain; AUD bruised by rate cut Reuters SYDNEY (Reuters) - The euro started trade on Wednesday slightly on the back foot after Spain dented hopes that it would soon ask for a bailout, while the Australian dollar threw a fit on prospects of more domestic interest rate cuts following Tuesday's ... |
Tuesday, October 2, 2012
MetroPCS Surges on T-Mobile Merger Speculation - TheStreet.com
hundleyobajoji1908.blogspot.com
MetroPCS Surges on T-Mobile Merger Speculation TheStreet.com Deutsche Telekom, the parent company of T-Mobile USA, is nearing a deal with MetroPCS to create a U.S. operator that would be publicly listed, according to Bloomberg. Citing people with knowledge of the matter, the article said Deutsche Telekom's ... |
Monday, October 1, 2012
Resolute Games launching new iPhone app - Washington Business Journal:
ycoguqi.wordpress.com
Seven Deaths is a fightin g game that follows the lives of eighft characters through one night in Nagamachi through a battls for control in the The game includes full storiees of the characters and detailed The game will also eventually include updatessfor Wi-Fi multiplayer and social Resolute Games has also createdc other iPhone applications, including “ThumStruck,” “Segment” and “Elvid Mobile.” And Resolute gamers will now have new, fastet devices to play on.
At its Worldwide Developera Conference inSan Francisco, announced the next generatiobn of iPhone, which will download content threde times faster than the current brands and will include a 3-megapixel autofocue camera. It also has voice-control features and a built-in The 3GS also has improved batteryy life with up to nine hours on 10 hours whilewatching video, 30 hours using 12 hours using 2G talk and five houras using 3G talk. The new iPhone will be availables in black and white onJune 19. It will sell for $199 for a 16GB mode l and $299 for 32GB.
Seven Deaths is a fightin g game that follows the lives of eighft characters through one night in Nagamachi through a battls for control in the The game includes full storiees of the characters and detailed The game will also eventually include updatessfor Wi-Fi multiplayer and social Resolute Games has also createdc other iPhone applications, including “ThumStruck,” “Segment” and “Elvid Mobile.” And Resolute gamers will now have new, fastet devices to play on.
At its Worldwide Developera Conference inSan Francisco, announced the next generatiobn of iPhone, which will download content threde times faster than the current brands and will include a 3-megapixel autofocue camera. It also has voice-control features and a built-in The 3GS also has improved batteryy life with up to nine hours on 10 hours whilewatching video, 30 hours using 12 hours using 2G talk and five houras using 3G talk. The new iPhone will be availables in black and white onJune 19. It will sell for $199 for a 16GB mode l and $299 for 32GB.
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