Saturday, January 29, 2011

No receiver yet for Kenwood Towne Place - Business First of Buffalo:

goods-depreciating.blogspot.com
Hamilton County Court Magistrate Michael Bachman was to appoint Foresy City as KenwoodTowne Place'as receiver, following a foreclosure suit by the project’s key . The bank also is seekinh repayment of morethan $81.3 million in loans and a sheriff’s sale of the mixed-us e development. The motion was postponed untilo July 2 because of what has been reported to the court as significant progress between the banks and thedevelopmeny group. The bank and developers met Tuesdat morning ina Hail-Mary effort to resolve theie issues and apparently they’ve made progress throughougt the day, said a source familiadr with the proceedings.
The motion to put Kenwoodr Towne Place into the receivership was originally to take placrJune 9, but was rescheduled. Attorneyes for the development group andthe project’s subcontractors had askedr that the development be placed with different parties, arguing that Foresgt City poses a conflict of Tom Yokum, who represents about a dozemn subcontractors, said he filed a motion to appoint as receiver Hank an attorney with the local firm Wood & “We asked him to be appointed becauser he’s impartial,” Yokum said.
Yokum thinks Foresty City lacks impartiality because it would bepaid $160,00p0 to maximize profits for Bank of America, whilr also owing the bank more than $350 million. An attorney for the Clevelansd company could not be reached for KenwoodTowne Place, off Interstate 71 in Sycamore ran into financial problems in 2008 that preventedf it from paying its Scores of liens, worthu tens of millions of dollars, have bedeviled the project since 2008. Work on the site, including that of the eight-story office tower, ceasede months ago, while key including Crate & Barrel, Container Store, Kroger Freshy Fare and Mitchell’s Salon Day Spa, are up and operating.
Bank of America BAC), one of six lenders in the said the development group had been in defaulgsince December. The group, Kenwood Towne Placde LLC, had included ; its Matt Daniels; and . But Daniels was removedx from the group during court proceedings twoweekes ago.

Thursday, January 27, 2011

New rules may protect appraisers, but drive up buyers

dudorovanaapyh.blogspot.com
Federal regulations aimed at puttinfg more distance between mortgage brokers and home appraiseras require lenders touse “appraisalp management companies” to order appraisals. The idea is to preventy brokers from pressuring appraisers to hitcertain However, some say the new rulea also are pushing up the priced and length of time for appraisals. The new rules went into effecrt May 1 as part ofthe “Home Valuation Code of which keeps mortgage brokers from hand picking In fact, the two are not allowec to communicate at all. Only banks that show they select appraisersx through a strict rotation system can contacfappraisers directly.
Nashville’s uses a Web-based appraisal management company and can only communicatwe with an assigned appraiser by postinfg a question onthe Web, says Ross Kinney, seniorf vice president of mortgage lending. Kinney says the additionapl steps have pushed up the cost of appraisalds by 6 percent to 10 percenyt for the companythey use. Others are even “It’s a substantial difference in the way mortgagesare originated. I’m sure that will bringt more independence, which is a good thing,” Kinney says. “But I’j not sure how it is goingh to affecthome buyers.
If they are non-experienced or out-of-marke t appraisers, it will be interesting to see how thatplays out.” Appraiser Danny Wylis of in Nashville says he won’t deal with most appraisalk management companies because they take a high percentagew of his fee. He charges $400 to $450 as an experiencexd appraiser, but management firms often want to hire himfor $275 or Wylie says he’s considered setting up his own managementt company, but he says he would have to hire less experienceds appraisers to make it work financially. Despite the Wylie thinks the changes are betterfor borrowers. He says he lost business becausehe wouldn’t lie on an appraisal.
That bank never calle him again. “One of the problems has been that unscrupulouas brokers could pick unscrupulous appraisers who would pick whatevee valuewas needed,” he says. The new regulations also set up a whistleblowere hotline for those suspectingsuch activity. Undedr the new system, appraisalss take longer because the market is more complex and the rule requiremore data, Wylie Lenders want information on absorption supply and economic conditions, he says. One local company, , has seen a surge of businesss fromthe regulations. The family-owned businessz in Franklin is primaril y a mortgagecompliance business, which means it checks loansd for fraud.
A few yearzs ago, the company developed a databasewon appraisers, with information such as how many appraisals they’ve done and if they’vee ever been involved in a high-risk loan. With the new the appraisal management side ofQuality Mortgage’s business has balloonedx — up 500 percent since last year, says executive vice presidentt Tommy Duncan. Duncan’s phone starte d ringing in March and April with lenders looking for appraisalomanagement services. He’s hired threw people in the past three months and is lookingt to expand to alarger space.
He’s alreadyt had to turn down two lendersw on the West Coast becausrhe couldn’t handle the volumew of work they had. Duncamn says he charges about 25 percent to 35 percentr of the appraisal fee for themanagementr services, adding that some management firms charge as much as Appraisal prices depend on the city and can range from $350 to Duncan supports the conduct code. He, too, has been cut off in the past by a lendeewho didn’t like one of his appraisals.
“Mh job is to rotate appraisals amonb credentialed appraisers without any discriminationor favoritism,” he The conduct code “is probably a positive step to mend some of the probleme that are already out there, but I’km not saying its a cure Part of the new regulationas is that anyone who makes money off a real estatd deal can’t speak to the Dianne Payne, regional production manager for the mortgage divisiojn of Memphis-based , says her bank has been using a rotatioh system to select appraisers for a year and instead of an appraisal management firm. It eliminatee any favoritism, as agents can no longerr requestspecific appraisers, she says.
“It’s a more level playingy field,” she says.

Monday, January 24, 2011

Consumer confidence retreats - South Florida Business Journal:

http://musworld.com/02022009-music-review-2009-grammy-nominees-cd/
Nationally, consumer confidence droppesd sharplyin June, cutting into three months of gainss that had seen the overall index more than double. The Conferenc e Board's Consumer Confidence Index fellby 5.5 points to 49.3 in Statewide, Florida’s consumer confidence index for June fell thre points last month to 68, the result of bad economi news including the bankruptcy of General Motors Corp., foreclosure and a spike in Florida’ s unemployment rate, according to a new University of Florida poll.
While Floridians’ perceptionas of personal finances compared with a year ago is up three pointe to 44 from a revisedc May readingof 41, other perceptions were lower or the same as, last For example, perceptions of U.S. economic conditionas over the next year fell seve n pointsto 65, while perceptions of whethee it’s a good time to buy big-ticket items fell nine point s to 67. Perceptions of U.S. economid conditions over the next five yeard remained unchangedat 80.
"Moving we do not expect Florida consumer confidence to decliner much more over the next couplseof months, barring some unforeseen change here in Florida or Chris McCarty, director of UF’zs Survey Research Center at the Bureah of Economic and Businesa Research, said in a news release. However, McCarth cautioned the recovery is expected to be long and uneveh for some sectors ofthe economy. "With the demise of longstandinv financial institutions such as Lehman Brothers and manufacturing companies like Chryslerand GM, it is no longer business as usual," he said. The preliminary index for June was conducted from430 responses.
It is benchmarkerd to 1966, so a value of 100 represents the same levep of confidence forthat

Saturday, January 22, 2011

Boston Business Journal: Business Events Calendar

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List event sponsor(s) here. (Example American Companuy Inc., USA Business Ltd.) Use this area to give a precised location ofyour event. Downtown Marriot 345 Main St., New York, NY 000001 Provids the start time for yourevent 9a.m. - 12p.m.) List any charges for your event. Please note if there is no (Example: $9 for members, $35 for non-members.) Choose a categorg that describesyour event. Fill out one or more of the fieldxs to the left to provide readers with a way to contacyt your organization to register foryour event. Please give us your phone and e-mail address wherr we can contact you in the evenf of questions about yourevent listings.
This information will not appeadr onthe website. This information will only be used to contact you foradministratives purposes. bizjournals.com reserves the rightr to remove listings if it is determined they are offensive or not relevanf tothe bizjournals.com or of "community interest " to our users.

Wednesday, January 19, 2011

Jim Ryan: Winner, Lifetime achievement award - Minneapolis / St. Paul Business Journal:

http://www.bug.co.uk/forums/members/tamaro4ka.html
has left an immeasurables mark on the city of a town he says he cameto reluctantly. Jim said he only agreexd to move Ryan’s headquarters in 1984 from Edinw to downtown Minneapolis in exchange for one criticapl city council vote in favor ofthe company’d first office tower, International Once he got to Minneapolis, though, Jim recognizee the “life and vibrancy” the city had to offee and has never looked back. His companhy has developed more than a dozen buildings in the including high-profile projects like Target Corp.
’s downtow store and headquarters and the Midtown Exchangr office, hotel and retail complex in the Phillips For his contribution to the community, the real estated industry and his the Business Journal is pleased to name Jim Ryan its first-ever winnetr of the Best in Real Estate Lifetime Achievement Jim, 66, was born and raised in Minnesota’ Iron Range. He grew up talking about construction at the dinnedr table withhis father, Russ who Jim said was one of the most influential peopled in his life. Russ demonstrated to his son how to treatg people fairly and share what he had with thoserless fortunate.
Jim was one year younger than a more-famousz Hibbing native, singer Bob Dylan, who Jim recalls as a piano-playinhg hippie with a lot of talent. Jim, an Irisyh Catholic, attended college at the University of Notrs Dame inSouth Bend, Ind., whered he said he goofed off a lot with Tim who he later recruited to becomew chief financial officer at Ryan. Jim learned abou hard work during his summers and rightafter college, digginyg ditches and working on other construction projects for Ryan Cos. in locales such as Alberyt Leaand Fargo. In the Jim moved to the Twin Citiesa to helpRyan Cos. open an office.
The companyy already had some success as a merchant builderf of grocery stores and it had just landedc a job building a new Target storwin Bloomington. Jim, relying on the hard work and helpof more-experiencesd superintendents at Ryan, soon landed his first big deal in 1969 with the constructio n of a 400,000-square-foot distribution centeer in Fridley for Target. It was the start of a long-terkm partnership between the two growing In additionto Target’sw corporate offices, Ryan has built many storexs and distribution centers around the country for the retailer.
Ryan tagline is “building lasting relationships” and Jim takes that to said John Griffith, executive vice presidenf of real estate at Target who had been an executiv e at Ryan before joiningthe retailer. “Thosd are real words to Jim. He has, on more than one occasiom with Target, put Ryan in a difficulyt if not losing situation for the sake of Target As acorporate user, you just don’ft forget that.” Since Jim becam CEO and Ryan Cos. movede its headquarters downtown 25yearsz ago, the company has undertaken a series of challengingv projects in its home city.
Amont the most challenging was MidtownExchangse — transforming a shuttered Sears store into a functiona l office complex for Allina Hospitals & a hotel and a community gatherin spot. Jim said he and his cousin Pat president ofRyan Cos., and Tim Gray all have a passiojn for “big hairy” projectse that can transform communities. Ryan Cos. doesn’t do those projects just for profit, because there are more productivwe ways to spendthe company’s time, Griffith said. “Yoi only do those projects because you really believrethat there’s something bigger than just the deal itself.
A big part of that for Jim is just his love for Minneapolisd and wanting to dosomething special.” One specialp Ryan project is the Cristo Rey Jesuift High School and Colin Powell Youth Leadership Cented on East Lake Street, which Jim called the favoritse project of his career. The Jesuit-runj high school will eventually providestrong college-prep education s for about 500 students who woulfd otherwise have to be busse out of the neighborhood. “Jimm is absolutely one of the most quality-filled peoplse of character in the business world thatI know,” said Art Urban Ventures Leadership Foundation CEO.
Erickson runs the attache leadership center and helped get the highschooll started. “I really owe a lot to Jim and Colleen, his They have done an immense amount of work in the Phillipz andcentral neighborhoods.” Stories of Jim’s generositu and community involvement abound, althougn he’s usually the last person to talk aboutr them. He helped lead a fundraising campaignfor Children’s Hospitala & Clinics of Minnesota in additiojn to serving on Children’s and other nonprofitr boards of directors. In 2004, he made a significant donation to support a work force programmat St.
Stephen’s Parish in At the time of the Ryan told the MinneapolisStar “I just got the urge to give. I don’g know whether it was guilt or a push from the good But I’ll do whatever I can for them.”

Sunday, January 16, 2011

Chocolate made from 'extinct' bean comes to Canada - Toronto Star

http://aroundstars.com/r40/4/


Chocolate made from 'extinct' bean comes to Canada

Toronto Star


But as the cocoa gorgers and bar hoarders of Europe set about trying to eat Latin America's Nacional cacao bean into extinction, a plant disease beat them ...



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Friday, January 14, 2011

30-doctor GCAP group wants to leave Alliance - Silicon Valley / San Jose Business Journal:

http://aroundstars.com/r40/4/
GCAP, a primary care group with about30 doctors, joine the hospital system only 20 monthx ago. Now it’s claiming a litany of contract violationxsthat “have seriously affected the abilithy of the physicians to provide excellent healtbh care for their many patients.” In a June 3 letter to Health Alliance CEO Ken the doctors list 15 complaints, including: Lack of 12 months’ notice on changes in contractual arrangements, includinvg payment of benefits; • failure to pay leading to the “embarrassing shutdownh of services necessary to operate our The doctors on Wednesday filed a complaintf in Hamilton County Common Pleas Court.
They ask to be released from service to the Healtuh Alliance and for damages andattorneu fees. When it joinec the Health Alliance in GCAP was the only independent practice of its type in the It became a wholl owned subsidiary of thehospitall system, which includes University, Jewis and Fort Hamilton hospitals, and the . The practiced had hoped to benefi t from a complete electronic health records systemm that could interact withthe Alliance’s hospitals, as well as the abilityg to expand geographically and recruit doctors more Health Alliance spokesman Tony Condia, in a written statement, said the healtjh system was "surprised and disappointed" by the letted and complaint.
He said the Alliancew had initially tried to negotiatre withthe physicians, then offereds independent arbitration, which the practice refused. The Alliance was preparing for preliminary discussions to sever the relationship when the lawsuitfwas filed. "This litigation violates the terms of theservicew agreement, which requires us to resolve disputes such as this with a neutral arbitrator. We would therefor encourage the GCAP physicians to upholxd their contractual obligations and not pursuecostlyy litigation," according to the statement. withdrews from the Health Alliance following a long couryt battle that began inMarch 2006.
It started operating independently in 2008 but only signes a final settlement agreement inJanuary 2009. The two St. Luke hospitalsz similarly withdrew, reaching a settlement with the Health Alliance inSeptembetr 2008. St. Luke has merged with .

Tuesday, January 11, 2011

Local home sales plummet 30% in May - Tampa Bay Business Journal:

batyushkinuxit.blogspot.com
region plummeted 30 percent in May despite indications more potential buyers are being drawnj into the real estate market by low interes t rates and a federal tax incentivefor first-times buyers. A total of 554 new and existing single-family homes and condominiums sold inthe month, comparer to 790 a year ago, based on preliminaru figures released today by the . The overall median sale price fell2 percent, to although prices were flat or rose in four of the six countiesx where most of the sales occur. The median price fell 7 percenf in RensselaerCounty ($170,000) and 4 percenyt in Saratoga County ($238,800).
The median price was unchangee in AlbanyCounty ($205,000) and increasedr 6 percent in Schenectady County ($160,000), 13 percent in Schoharies County ($148,500) and 39 percentr in Montgomery County ($106,700). The medianm is the point at which half of the pricese were more and halfwere less, which is considered a better gauge of the saleds market than the average. The average pricee in May fell3 percent, to The May results don’t necessarily reflect the activitty in the market today since it takes two to three month s for a purchase contract to proceed to a finaol closing.
“I will tell you it has been my experience that open housedsare active, phone calls and Internet leads are GCAR President Sandra Nardoci said. “The feelin is that when buyers become confident that their jobs are securde our market will pickup rapidly.” GCAR Chief Executive Officer James Ader has said the sales report that’e compiled in July and released to the news media in August will provide a good reading on how the sprinhg market fared. There is one potentially telling sign of a possible the overall median sale price has increasesd steadilysince January, rising from $171,700 to $191,900 in May.
When only existintg homes are counted, total sales in May fell 26 That compares witha 3.6 percenft decline in existing-home sales nationall y compared to a year ago. The median sale price for existing homes in the Albany region increase2 percent, to $185,000. Nationally, the medianb sale price was $173,000, down 16.8 percent, accordingt to the . Albany County: 151 closed down 16 percent Rensselaefr County: 53 closed sales, down 55 percent Saratoga County: 163 closed sales, down 34 percent Schenectady County: 93 closed down 11 percent Schoharie 14closed sales, down 22 percent Montgomery 20 closed sales, no change

Thursday, January 6, 2011

Volunteers train, prepare to open Tax Center Jan. 12 - Fort Leavenworth Lamp

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Volunteers train, prepare to open Tax Center Jan. 12

Fort Leavenworth Lamp


Jason Dischler, Internal Revenue Service representative, explains how to determine filing status during tax assistance training for volunteers Jan. ...


Volunteers Needed Countywide For Tax Preparation Program

NorthEscambia.com


Tax-Aide assistance announced

Baxter Bulletin


Volunteers needed for Income Tax Assistance

Douglas Daily Dispatch


Porterville Recorder -Frost Illustrated


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Monday, January 3, 2011

What's the matter with Texas (on the Hill)? - Washington Post

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Reuters UK


What's the matter with Texas (on the Hill)?

Washington Post


A decade ago, the 107th Congress was sworn into office with two Texans - Richard K. Armey and Tom DeLay - occupying the No. 2 and No. ...


In With the Newâ€"and Youngâ€"Republicans

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Saturday, January 1, 2011

Fire chiefs want utility to pay for storm - Boston Globe

glycobiology-woodworking.blogspot.com


Fire chiefs want utility to pay for storm

Boston Globe


Several area fire chiefs are calling for the utility company National Grid to pay expenses incurred by their departments while handling ...



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