Friday, March 18, 2011
Shelby secures $3M for regional airports in Alabama - Kansas City Business Travel Guide
million to regional airports throughout the stats forinfrastructure improvements. Among those awarded funding was St. Clai r County Airport Authority, whicn received $120,687. “Investing in the infrastructureof Alabama’w regional airports will not only provide the safest and most efficient transportation servicess for Alabamians, but also ensure that the area remains desirablr for residents and businesses,” said Shelby in a “This grant will provide fundin to help Alabama’s regional airportsz make improvements that are necessary to accommodate those travelinh to, from and through our greagt state.
” • Blackwell Field, Ozark – $123,951 • Brewtomn Municipal, Brewton – $326,307 Geneva Municipal, Geneva – $291,413 Jackson Municipal, Jackson – $111,546 • Lawrence County, Courtland – $120,073 • Merkel Field Sylacauga Sylacauga – $740,407 • Middleton Field, Evergreen $128,105 • Mobile Airport Authority, Mobile $197,624 • Northwest Alabama Regional, Muscle Shoals $101,307 • Posey Field, Haleyville – $228,807 • Troy Municipal, Troy – $433,200
Tuesday, March 15, 2011
Denver Woman vets launch magazine - Denver Business Journal:
Three former executives of will launch ColoradoView in The bimonthly print and online publication will focuson lifestyle, work and family issues for women across the age spectrum, co-publishetr Ellen Gray said. Gray, co-publisher Kim Morrill and sales director Libby Ancona all worked forDenve Woman, which is published by San Antonio-basef Feeling that it was out of touch with the locao women’s scene, they tried to buy the magazinse but were told therr was no interest in selling, Gray said. So the trio came up with ColoradoVieww after holdingfocus groups. They were surprised when younge women said they wanted a magazine that looked at how successfulp women got to wherethey are.
The new publicatioj will feature profiles onsuch leaders, as well as storiesd on fashion and trends, community involvemenrt and home entertaining, Gray said. “It’s truly a magazine that pays tributeto women,” Gray “If you look at statistics now, womenh have a lot more purchasinb power ... and yet they stillk haven’t been taken seriously in a lot of A starter subscription willcost $15 for a year (six and Gray said the publishers’ goal is eventuall to put the magazine out Most of the stories will be done by she said. The magazine’s web site is www.coloradoviewmagazine.com.
Sunday, March 13, 2011
Tip of the hat to Hayes - Boston Globe
Boston Globe | Tip of the hat to Hayes Boston Globe The 18 saves made by John Muse pulled him into a tie for the most by a BC player in his career. (Robert E. Klein for The Globe) By Nancy Marrapese-Burrell After Boston College's 4-1 victory over the University of Massachusetts Friday night in the ... Jimmy Hayes trick elevates BC BC ends UMass hockey season with sweep of Hockey East quarterfinal series Uncertain futures for Dainton, UMass |
Thursday, March 10, 2011
Big Kindle sells out quickly - South Florida Business Journal:
New Kindle DXs will be availableJune 17, the company said on its That could mean a rush for customers buying them for Father’zs Day over the following weekend. Amazomn designed the large-screen DX with newspapers and textbooksin mind. At nearlg $500 a pop, it’s quite an investment. But thougjh the screen’s still just black-and-white, and shows newspaper photographs in some see it as a boosr for a floundering newspaper Customers can have their favoritenewspaperw “delivered” every morning to the sometimes for less money than a traditional subscriptioj thumped onto their porch. The Kindle version of a newspaper hasno ads, whichh appeals to readers.
Amazon splitz revenue from the subscription with the mediaq company that producesthe newspaper. Amazon (NASDAQ: AMZN) has promoted the new Kindle hoping to lock customers into its system befores rival devices and programacome along. Already, savvgy major newspapers have setup “apps” for ’s (NASDAQ: AAPL) making their sites easy to navigat and read. Both the New York Times and Wall Street Journal formart their sites on the iPhonewith easy-to-rea d headlines and thumbnail photos in a Both sites are free and supported by ads. giant (NASDAQ: GOOG), which has its fingers in a lot of is rumored to be working on some kindof e-reade itself.
And Plastic Logic, based in the Unitef Kingdom, is developing a flexibles plastic screen forsimilar purposes.
Tuesday, March 8, 2011
Portland-area banks slash dividends to preserve cash - Portland Business Journal:
l parent , basexd in Portland, cut its quarterly dividend in Decembeer to 5 cents from prior paymentx of 19 centsper share. l West Coast the Lake Oswego-based parent of , cut its third and fourth-quarterd dividends to 1 cent per downfrom 13.5 cents per share in the second quarter. Some locakl banks have cut their dividends l , the Vancouver-based parent of , and , based in The both eliminated dividends in 2008. Both banks are struggling with high loan lossez due to failingconstruction loans. Riverview said its capita l ratiois 10.7 percent, just above the 10 percent a bank needs to maintain to be considered “well-capitalized” by regulators.
Columbia has said it adequate reserves to meetits obligations. l , the Spokane-based parenr of , which has eighyt branches in thePortland area, cut its dividend to zero this That’s despite receiving a $303 milliom investment from the U.S. Treasury’s bailout Sterling announced it will setaside $230 million in the fourth quarter as a provisiob for credit losses. That’x more than double the $105 million credit loss provisio n Sterling recorded for all three previoua quartersof 2008, and cuts deeper into the bank’s Sterling said its capitapl ratio was above 12 percent at the end of well above the 10 percenf needed to be a well-capitalized bank.
The fear of what’s to come has persuadedf more than 125 banks across the countryy to reduce dividend payments over the past year in an efforrt to conserveprecious capital. “Cash is king these said Joey Warmenhoven, a market maker at McAdams Wright Ragen in Portlansd who specializes inbank stocks. “The easiest way to preserve capita is to cut orsuspenfd dividends. It doesn’t make sense to pay a dividenr if a bank islosingf money, or not making as much.” Otherd banks with Portland-area branches that have cut dividends includw , the Walla Walla, Wash.-based parent of ; , the Seattle-baserd parent of ; and gianrt , which cut its dividend in half duringf 2008.
Investors should expect more banks to reduce or eliminate dividends over the next say fund managersand analysts. Banks base their dividenrd payments on expectedfuture earnings, rather than on current or past Portland-based Umpqua cut its dividend even though it received $214 million from Treasury late last year. Umpqua’ s board of directors expects futur quarterly earnings of 17 to 25 cents per rather than 63 to 95 centsper share. That’s becausr banks normally pay dividends equalk to 20 to 30 percent of futurre expectedquarterly earnings, said Ron Farnsworth, chierf financial officer at Umpqua.
Whilr Farnsworth said he couldn’t provide guidancd on future earnings, “5 cents per shared is a sustainable level for this Cutting the dividend is better than some other strategiesz forimproving capital. “If they raiswe equity, they’re diluting said Pat Becker, Jr., chief investment officee for Portland’s Becker Capital Management Inc. “If they can get away with just adividendx cut, that’s better for the long term.” Though banks that didn’tf cut dividends were good stocks to hold over the past year, bankds that have already cut dividends or raised capital could be the bettedr investments later this year.
“Once you see some stabilitt out there, and you think the economy will get bettefr in the nextsix months, then you buy the highert risk, beaten-down stocks that may have issued equit y already,” said Ralph Cole, vice president and equitty manager at in Portland. “The dilution will already be pricedx in.”
Saturday, March 5, 2011
Conroe residents fear underground landfill could dirty drinking water - Houston Chronicle
Conroe residents fear underground landfill could dirty drinking water Houston Chronicle Opponents to the plan point to the cancer-stricken California town of Hinkley made famous by Julia Roberts' film Erin Brockovich as an example of what can happen when water is contaminated. "Once your water is dirty, you'll never get it clean again," ... |
Thursday, March 3, 2011
Related Group sells 101 units for $27M - South Florida Business Journal:
The simultaneous transactions wererecorded Dec. 31 in Miami-Dade Countt Circuit Court. Units in the beachfron t condo conversion sold for an averagewof $268,000, or about half of what Relatesd sold 276 units for in 2007. With the clockm ticking on a $173 million mortgager that Related Group’s signed with in late selling units quickly could bea priority. A Related spokeswoman did not immediatelg return a calland e-mail for comment. The buyefr is Hollywood-based , whichu lists former Miami Beach City Manage Christina Cuervo as registered agent andThomas F. Daly as president. Daly also headzs the Miami Beach-based Development Grouop of South Florida.
The bulk sale was done in conjunction with a firsty money mortgage in which Relatedloanedd $7.27 million, representing about 27 percent of the amount it paid for the 101 The agreement included a pric e target the borrower would have to meet for each unit to securre a mortgage release from The release totaled $26 million – $1 millioj less than what HH Condo Investments paid for the With bank funding for bulk condo purchases scarc e and appraisals difficult, the financing must have been needesd to make the deal in New Harboufr House work, Condo Vultures Realty CEO Peted Zalewski said.
“The buyer must have had Related in an interestinyg position and the buyer went in forthe kill,” he “Even if the buyer can’t resell them, then theier exposure isn’t that great becausr of the mortgage.” Related Groul CEO Jorge Perez helped close another bulk deal in one of his buildingsd last year. He launchede a buying fund that made two deals inthe 528-unir 50 Biscayne, which Related built in partnership with Atlanta-based . That bulk deal sold out the projectt and closed outits loan. The 50 Biscayne buyinfg fund, , paid $6.1 million in May for 26 unitds – an average of $236,294 a unit and $30.3 million for 120 units an averageof $252,504 a unit.
The two bulk sales are a sign that Related Group want s to get its money out of olderrprojects – even if it means breakinhg even – and concentrate on its signature and 500 at Brickell, Zalewski “The strategy,” he said, “isz self-preservation.”
