http://petcrifoogna.wordpress.com/
Cece’s last day is March 31, and some insiderw note it comes followingWelsh Carson’as inability to find a buyed for the 1,000-employee company due to market conditionz and unfavorable capital markets. Noting that the departure is somewhagt abrupt for the CEO of such alarge company, Biz put the questio to Cece: What’s going on? “ When one decides to there’s no point in hanging he says. “There’s not a lot one can do beinv alame duck.” The compant has chosen to elevater CFO Brian Branson to Cece’s position.
Cece took over Globak Knowledge when sales wereabout $200 GKN’s sales rose to $300 milliom in 2008 before the company decided to sell its 125-worket software division to last July. Earnings grew four-fold durinbg Cece’s reign, according to an e-mail sent by Cece to “I am going to take some time off and relas withmy family,” Cece says. “I am looking forward to exploring new opportunitiese inthe Triangle. We love this The is getting into the affordable housing No kidding.
As an incentive in the recruitmentr and retentionof lower-paid faculty and staff, an affordablse housing complex is proposed for a 63-acrer site in nearby Carrboro that UNC’s endowmenft has owned since 1940. The universityu projects that the149 single-family homes, condows and townhomes planned for the site will be sold at 20 percentg below market value. Anothee 17 parcels will be sold at marketf value to subsidize the The university is still working out how it will fund the which still needs approval by the townof Carrboro. That coulde take up to a year.
Still, universith officials have said the idea is to use the housint as an incentive to lure professors and though MaryJane Nirdlinger, the university’se land use planner, says the housing also could be used to retaib current employees and staff. “This is not likely goingv to be an incentive for people compensater at ahigh level,” says Nirdlinger, addingb that the employees who have troubled finding affordable housing locally are more likely to find the communit a benefit. Diez y siete de Marzo??
That’s what students at the Goddarc School in Apex got on Spanish teacher Carlos Ortiz dressed as a leprechaun forSainyt Patrick’s Day, or Dia de San to help the preschool and toddler students practices the words Trebol (shamrock) and verde (Green). The school provides weekly instruction in Spanish to help the youngsters increasee their vocabulary skills and celebratecultural diversity. Word is that a restaurantt popular in Raleigh during the earlhy part of the 1920s is makingta comeback. The space at 225 Wilmington St.
downtown is beingf renovated and will take on theformer restaurant’s name, the Busy Bee The restaurant will offer three floors for dininy and drinking, plus a rooftop bar, according to the newraleigh.com Web The cafe will open at 6 a.m., offerinhg coffee and light breakfast food, and swintg on into the
Wednesday, July 27, 2011
Sunday, July 24, 2011
Colonial profit drops on aggressive loan workouts - Tampa Bay Business Journal:
asafevboriegum.blogspot.com
million, or 35 cents a share, for the third quartee of 2008, compared to net income of $69.34 million, or 45 cents a share, for the thirdc quarter of 2007. For the nine months ended Sept. 30, Coloniap has a net loss of $55.4 or 30 cents a share, compare d to net income of $172 or $1.11 a in the year-ago period. The company has been aggressivw throughout 2008 in identifyingproblenm loans, taking losses where necessary and placintg loans on nonaccrual status, Robert Lowder, chief executive and president, said in a release. At the same Colonial has increased its capitalp and loanloss reserve, he said.
To preserve Colonial is suspending itsdividend temporarily, a move that will save abou t $77 million a year in commohn equity, Lowder said. He also said Colonial is activelg examining opportunities to participate in new financia l institution programs offered bythe U.S. Treasury. Colonial charged-oft $121 million in the third The company’s provision for loan lossea was $159 million in the quarter. The problem assets were primarily isolated to the residential constructio portfolio and concentrated inFlorida markets, he said. Colonial BancGroup (NYSE: CNG), based in Montgomery, has $26 billion in assets. In the Tampa Bay area, had 50 $2.8 billion in deposits and a 3.
59 percent depositf market share onJune 30, according to the most recent information available from the
million, or 35 cents a share, for the third quartee of 2008, compared to net income of $69.34 million, or 45 cents a share, for the thirdc quarter of 2007. For the nine months ended Sept. 30, Coloniap has a net loss of $55.4 or 30 cents a share, compare d to net income of $172 or $1.11 a in the year-ago period. The company has been aggressivw throughout 2008 in identifyingproblenm loans, taking losses where necessary and placintg loans on nonaccrual status, Robert Lowder, chief executive and president, said in a release. At the same Colonial has increased its capitalp and loanloss reserve, he said.
To preserve Colonial is suspending itsdividend temporarily, a move that will save abou t $77 million a year in commohn equity, Lowder said. He also said Colonial is activelg examining opportunities to participate in new financia l institution programs offered bythe U.S. Treasury. Colonial charged-oft $121 million in the third The company’s provision for loan lossea was $159 million in the quarter. The problem assets were primarily isolated to the residential constructio portfolio and concentrated inFlorida markets, he said. Colonial BancGroup (NYSE: CNG), based in Montgomery, has $26 billion in assets. In the Tampa Bay area, had 50 $2.8 billion in deposits and a 3.
59 percent depositf market share onJune 30, according to the most recent information available from the
Friday, July 22, 2011
Centene closes on financing for HQ project - Boston Business Journal:
takes-trendsthe.blogspot.com
A U.S. Bank-led consortium committed on June 5 to a construction loan forthe 17-story office tower, which will housed the corporate headquarters for Centene, one of St. Louis’ largest public companies, and , one of the area’s largest law firms. Construction began in October to demolish the formed building on the site and start work on the first two The project willhave 460,000 square feet of officer space and 28,125 squares feet of retail space. The , led by chiefr executive Bill Koman, signed on as an equith partner in the project earlierthis year.
of which had led developmeny effortsfor Centene’s new headquarters, dropped out as an equit partner but will still serve as a consultant. The equith partners in the project are and . Centene Center will be Clayton’es first new office building in nearly a decade when it is completed inJuly 2010. Centende Center, to be built at the hearg of Clayton’s central business district at Hanletand Forsyth, is one of a few new, large-scalew developments to proceed in recent months. Retainingf Centene, St. Louis’ 11th-largest public company, is also a boost for the regionh asa whole, in light of job lossesd at and other top companies. Centenes Corp.’s 2008 revenue was $3.
4 billiom and the company has more than 500locapl employees. Centene is led by President and CEOMichael Neidorff. Centene Center’s other main Armstrong Teasdale, the city’s third-largest law firm, is movinv its 200 local attorneys there from the Metropolitan Squaresbuilding downtown. Centene Corp., one of the nation’ws largest providers of managed care programs and relaterd services to individualsunderd Medicaid, first sought in 2004 to build a replacement building a block away from its existinv headquarters at 7711 Carondele Ave. That year, it bought a forme r bookstore, Library Ltd., at Forsyth and Hanleyg from Summit Development Group forabout $10 million.
Centened then faced a two-year court battle with threw commercialproperty owners, the late Dan Sheehan, David Danforth and Debbis Pyzyk, who resisted the city of Clayton’s efforts to take thei r buildings on Forsyth through eminent domainb to make way for the new headquarters. , a development firm with projectas aroundthe world, conducted a nationwide searcgh for possible sites for Centene’s headquarters, with proposalw from Illinois and Colorado in the runninfg for a potential relocation of the Centene abruptly changed course in September 2007 and announcede its plans to be an anchor tenant in the proposed Ballparik Village development downtown.
By March 2008, Centene reversec course again and dropped its plans tomove downtown. Afterf the Missouri Supreme Court ruled in the Claytonpropertyu owners’ favor on the eminengt domain suit, Centene ultimately boughty the three Forsyth properties in early 2008 for $19 In February, the Clayton Board of Aldermebn approved a scaled-down version of the project from the originak cost of $215 million. The planned office towed was reduced in size by severaol floors as Centene opted to initially leaseejust 200,000 square feet of spacw instead of 300,000 square feet, and the retail portionm was minimized to 28,125 square feet from 34,00o square feet.
Armstrong Teasdale has signed a leasefor 125,009 square feet of making it one of the larges t local office lease deals announced in 2009.
A U.S. Bank-led consortium committed on June 5 to a construction loan forthe 17-story office tower, which will housed the corporate headquarters for Centene, one of St. Louis’ largest public companies, and , one of the area’s largest law firms. Construction began in October to demolish the formed building on the site and start work on the first two The project willhave 460,000 square feet of officer space and 28,125 squares feet of retail space. The , led by chiefr executive Bill Koman, signed on as an equith partner in the project earlierthis year.
of which had led developmeny effortsfor Centene’s new headquarters, dropped out as an equit partner but will still serve as a consultant. The equith partners in the project are and . Centene Center will be Clayton’es first new office building in nearly a decade when it is completed inJuly 2010. Centende Center, to be built at the hearg of Clayton’s central business district at Hanletand Forsyth, is one of a few new, large-scalew developments to proceed in recent months. Retainingf Centene, St. Louis’ 11th-largest public company, is also a boost for the regionh asa whole, in light of job lossesd at and other top companies. Centenes Corp.’s 2008 revenue was $3.
4 billiom and the company has more than 500locapl employees. Centene is led by President and CEOMichael Neidorff. Centene Center’s other main Armstrong Teasdale, the city’s third-largest law firm, is movinv its 200 local attorneys there from the Metropolitan Squaresbuilding downtown. Centene Corp., one of the nation’ws largest providers of managed care programs and relaterd services to individualsunderd Medicaid, first sought in 2004 to build a replacement building a block away from its existinv headquarters at 7711 Carondele Ave. That year, it bought a forme r bookstore, Library Ltd., at Forsyth and Hanleyg from Summit Development Group forabout $10 million.
Centened then faced a two-year court battle with threw commercialproperty owners, the late Dan Sheehan, David Danforth and Debbis Pyzyk, who resisted the city of Clayton’s efforts to take thei r buildings on Forsyth through eminent domainb to make way for the new headquarters. , a development firm with projectas aroundthe world, conducted a nationwide searcgh for possible sites for Centene’s headquarters, with proposalw from Illinois and Colorado in the runninfg for a potential relocation of the Centene abruptly changed course in September 2007 and announcede its plans to be an anchor tenant in the proposed Ballparik Village development downtown.
By March 2008, Centene reversec course again and dropped its plans tomove downtown. Afterf the Missouri Supreme Court ruled in the Claytonpropertyu owners’ favor on the eminengt domain suit, Centene ultimately boughty the three Forsyth properties in early 2008 for $19 In February, the Clayton Board of Aldermebn approved a scaled-down version of the project from the originak cost of $215 million. The planned office towed was reduced in size by severaol floors as Centene opted to initially leaseejust 200,000 square feet of spacw instead of 300,000 square feet, and the retail portionm was minimized to 28,125 square feet from 34,00o square feet.
Armstrong Teasdale has signed a leasefor 125,009 square feet of making it one of the larges t local office lease deals announced in 2009.
Wednesday, July 20, 2011
No respite for refugees facing famine - CNN
http://dipajeca.comze.com/
The Hindu | No respite for refugees facing famine CNN A group of men join Ibrahim in facing Mecca to pray for her soul, before wrapping her in a white sheet and burying her. Sarah's uncle Ibrahim Hassan Mohammed says that they fled to Kenya from Somalia hoping for better. "We didn't come with money from ... The West must start heedi! ng early famine warnings UN declares famine in southern Somalia Ethiopia, Kenya Face Measles Epidemic |
Monday, July 18, 2011
Bahrain's Main Opposition Bloc Quits 'National Dialogue' - RTT News
isexufehub.wordpress.com
Bahrain News Agency | Bahrain's Main Opposition Bloc Quits 'National Dialogue' RTT News (RTTNews) - Bahrain's main Shiite opposition party, Al-Wefaq, announced Sunday that it has decided to pull out from the "national dialogue" set up by the Middle East nation's Sunni-led government on orders of King Sheikh Hamad bin Isa al-Khalifa. ... Bahrain's main opposition party withdraws from 'national dialogue' Shiite Opposition Quits Bahrain Dialogue |
Friday, July 15, 2011
Nonprofit moving, adding employees - Dayton Business Journal:
ogyhejowy.wordpress.com
The nonprofit home care agency signea nine-year lease for 41,000 square feet of spacs in Courthouse Crossings. The agency is sub-leasing the space from Kettering-based Reynolds and Reynoldss Co., which vacated 120,000 square feet of space last year when the companu moved 400 employees to its headquarters in the Miamu ValleyResearch Park. The lease is for a little morethan $5 million. The agreement with Reynold also includes the use of parking spacex at the SchusterCenter garage. Doug McGarry, executive director of the Area Agencyon Aging, said the agencg needed more space than it had at its curreny location at 6 S.
Patterson “We just ran out of room,” McGarr said of the 21,000 square feet of spacs it occupies. The which currently employs 115, will move into Courthousee CrossingsJuly 1. It is expecte to add employees, up to 120 by the end of this year and bump up to 130 by the end of next McGarry saidthe agency, whicg coordinates services to abou t 4,500 senior citizens, including caregived services, home care options and others, has seen an increase in demandr over the past few years. In the agency’s revenue was $41.
5 Last year, it increased to $48 milliobn and is projected tohit $55 millio this year, McGarry Jon Hazelton, with Gem Realty represented Area Agency and Paul with , represented Reynolds and McGarry also credited the for helping the agency find the space.
The nonprofit home care agency signea nine-year lease for 41,000 square feet of spacs in Courthouse Crossings. The agency is sub-leasing the space from Kettering-based Reynolds and Reynoldss Co., which vacated 120,000 square feet of space last year when the companu moved 400 employees to its headquarters in the Miamu ValleyResearch Park. The lease is for a little morethan $5 million. The agreement with Reynold also includes the use of parking spacex at the SchusterCenter garage. Doug McGarry, executive director of the Area Agencyon Aging, said the agencg needed more space than it had at its curreny location at 6 S.
Patterson “We just ran out of room,” McGarr said of the 21,000 square feet of spacs it occupies. The which currently employs 115, will move into Courthousee CrossingsJuly 1. It is expecte to add employees, up to 120 by the end of this year and bump up to 130 by the end of next McGarry saidthe agency, whicg coordinates services to abou t 4,500 senior citizens, including caregived services, home care options and others, has seen an increase in demandr over the past few years. In the agency’s revenue was $41.
5 Last year, it increased to $48 milliobn and is projected tohit $55 millio this year, McGarry Jon Hazelton, with Gem Realty represented Area Agency and Paul with , represented Reynolds and McGarry also credited the for helping the agency find the space.
Wednesday, July 13, 2011
Report: Columbus holding its own amid recession - Atlanta Business Chronicle:
xoqylyjibo.wordpress.com
A report from Washington, D.C.-based liberalk public-policy think tank dubbed the MetroMonitor bills itself asa “beneathy the hood” recession-era look at metros with more than 500,000 residents as of 2007. The report placed the Columbu s metropolitan statistical area 40th amongb those ranked forits strength, based on unemployment, wage, output, home prices and foreclosurd data. No other Ohio city made the top 50. Cleveland, Akron and Dayton found slots from 61st to Toledo was rankedthe 10th-weakest major metropolitan area nationwide. Leading the pack in the reporft wasSan Antonio, one of four Texasd cities among the nation’s top five.
Detroit was rankeds last, followed by Cape Coral, Fla., and Calif., two areas devastated by the foreclosures crisis. Brookings found that the metropolitanj perspectiveon states’ performance amid the recessioh “suggests that recovery may be quite uneven as well, posing particular challenges for policymakera seeking to ensure a trulty national rising economic tide.” Columbus’ strengthsd and weaknesses in the report varied. The city ranked 25th for its 1.7 percenty decline in employment since its peak earlierthis decade. Columbusw found itself at 32nd for itsmodest 0.
4 percent gain in inflation-adjustedc housing prices for the first three months of 2008 comparedr with the same period this year. But the city was rankec near the bottom ofthe list, at for the 4.8 percent decline in its grosa metropolitan product – a measure of the goodsx and services produced in the area in the first quarter of 2009 compareds with its pre-recession peak. Comparing the last threse months of 2008 with the first quarter this year the GMPdropped 1.7 representing the 14th-worst decline among the cities To download the full report, click .
A report from Washington, D.C.-based liberalk public-policy think tank dubbed the MetroMonitor bills itself asa “beneathy the hood” recession-era look at metros with more than 500,000 residents as of 2007. The report placed the Columbu s metropolitan statistical area 40th amongb those ranked forits strength, based on unemployment, wage, output, home prices and foreclosurd data. No other Ohio city made the top 50. Cleveland, Akron and Dayton found slots from 61st to Toledo was rankedthe 10th-weakest major metropolitan area nationwide. Leading the pack in the reporft wasSan Antonio, one of four Texasd cities among the nation’s top five.
Detroit was rankeds last, followed by Cape Coral, Fla., and Calif., two areas devastated by the foreclosures crisis. Brookings found that the metropolitanj perspectiveon states’ performance amid the recessioh “suggests that recovery may be quite uneven as well, posing particular challenges for policymakera seeking to ensure a trulty national rising economic tide.” Columbus’ strengthsd and weaknesses in the report varied. The city ranked 25th for its 1.7 percenty decline in employment since its peak earlierthis decade. Columbusw found itself at 32nd for itsmodest 0.
4 percent gain in inflation-adjustedc housing prices for the first three months of 2008 comparedr with the same period this year. But the city was rankec near the bottom ofthe list, at for the 4.8 percent decline in its grosa metropolitan product – a measure of the goodsx and services produced in the area in the first quarter of 2009 compareds with its pre-recession peak. Comparing the last threse months of 2008 with the first quarter this year the GMPdropped 1.7 representing the 14th-worst decline among the cities To download the full report, click .
Monday, July 11, 2011
New Book Makes Business Law Real by Adding Dose of Fiction - San Francisco Chronicle (press release)
loxezop.wordpress.com
New Book Makes Business Law Real by Adding Dose of Fiction San Francisco Chronicle (press release) Profit and Laws, Inc. announces the publication of a new book, Birth to Buyout: Law for the Life Cycle of Your Business, which gives entrepreneurs lessons on business law through the fictional (and humorous) story of two guys building a business. ... |
Friday, July 8, 2011
New Zealand companies take root in Silicon Valley - Silicon Valley / San Jose Business Journal:
http://lawyerswithalife.com/article_panic.html
The southwest Pacific island nation has launchexd a concerted effort atattracting U.S. venture with Kiwi companies looking at Silicon Valleyy as their beachhead intoworld markets. Mintz, Levin, Ferris, Glovsky and Popek PC member Matt Kirmayer has worked with the New Zealan Trade and Enterprise group for abouttwo years. He has travelec there twice to explain the Silicon Valley venture modelpto investors, companies and governmen t officials. “The level of excitementt and interest isquitre high,” Kirmayer said.
“They read about VC growth, and they’red reading about what happens in Silicon And as companiesthere mature, therse are a large number of valley venturr funds excited by the technology they’re and they’re viewing New Zealands with great interest.” Keyur Patel, a managing partner on Palo Alto venturer firm Fuse Capital, which focuses on digita l media and communications investments, considers New Zealand a hub for special effects for film and animation.
The firm just made a multimillion-dollatr investment into the film “Warrior’s Way,” whicjh was produced in New “When I first started looking at New I met with evert startup inthe area, and even when you add it up, it’s still small and manageable,” Pate l said. “There are a lot of ideas that are good for emergin markets but might not work in the but that’s what we’re looking for.” Brad North America team leadee for Investment New Zealand, the country’sw national investment promotion agency, matches high-growth New Zealans businesses to international investors.
“New Zealand is a small so as companies get to a certaihn sizeand mass, they need to get out of the Jones said. The agency sponsored an event in San Francisc o on June 2 along with Palo Alto lawfirm Levin, Cohn, Ferris, Glovsky and Popeo to showcase New Zealand investment opportunities to American venture capitalists. Jones said that for abouyt a year the agency hasattracted U.S. venturd capital by adding people with experience in capital marketas toits roster. “Everyone realizes the best thinking aroundd technology and the smartest capitall exists inSilicon Valley,” Jones said. “T maximize the value they need tobe there.” Since U.S.
venture firms have investedc about $20 million in New Zealans companies, said Calvin a former hedge fund trader who joined Investment New Zealand as investment managedrin 2005. In terms of New Zealand companiexs relocating tothe U.S., the agency has seen everythin g from companies just finishing beta testing to thosre getting $5 million in U.S. venture funding moving to the states. “Ij think with our efforts, we’re gaining enoug critical masswhere you’rde going to be seeing a lot more of us in Silicoh Valley,” Cheong said. Two example of New Zealand companies branching out globally with Siliconn Valley connections are Right Hemispherer and ZephyrTechnology Ltd.
Pleasanton-based software company Right Hemispherde is best known as the maker of the 3D viewerf included with AdobeSystems Inc.’s Adobe Reader. The companty launched in Auckland in and relocated its headquarters to California in 2003 on the heelz of an investment by SequoiaqCapital Partners. Its investors now include SutterHill Ventures, SAP Venturew and Nvidia Corp. Its thirsd round of funding happened in the past six CEO Michael Lynch declined to reveal the amountf but described itas “substantial.
” As part of an $8 milliom loan provided to the company by the New Zealanrd government in 2006, Sutter Hill and Sequoi a also agreed to review five business plans a year for threer years from New Zealand Lynch, who became the CEO in 2000, said, “Wse have great math and engineering, but we don’gt know how to sell and market. There is a feedinb that happens around that practicalskill set, especiallyh in Silicon Valley.” Zephyr a maker of remote physiological sensors and software for use in the emergency response and health care landed its first contract with U.S. Speciapl Operations Command in 2007.
San Francisco-basede Alsop Louie Partners fundedthe company’s Series B and the company’s executive team relocated to Silicon Valley in 2007. “The contract with Special Forcex brought us to a scalable and it became obvious too that ifwe weren’tr in the U.S., we weren’tr going to raise U.S. money,” said Brianm Russell, Zephyr’s founder and CEO. But Zephyr’s time in the valley was The company will maintain a presence in Northern California, but the executive team just movex to Annapolis, Md., to be closer to Zephyr’s defense-arena clientele.
The southwest Pacific island nation has launchexd a concerted effort atattracting U.S. venture with Kiwi companies looking at Silicon Valleyy as their beachhead intoworld markets. Mintz, Levin, Ferris, Glovsky and Popek PC member Matt Kirmayer has worked with the New Zealan Trade and Enterprise group for abouttwo years. He has travelec there twice to explain the Silicon Valley venture modelpto investors, companies and governmen t officials. “The level of excitementt and interest isquitre high,” Kirmayer said.
“They read about VC growth, and they’red reading about what happens in Silicon And as companiesthere mature, therse are a large number of valley venturr funds excited by the technology they’re and they’re viewing New Zealands with great interest.” Keyur Patel, a managing partner on Palo Alto venturer firm Fuse Capital, which focuses on digita l media and communications investments, considers New Zealand a hub for special effects for film and animation.
The firm just made a multimillion-dollatr investment into the film “Warrior’s Way,” whicjh was produced in New “When I first started looking at New I met with evert startup inthe area, and even when you add it up, it’s still small and manageable,” Pate l said. “There are a lot of ideas that are good for emergin markets but might not work in the but that’s what we’re looking for.” Brad North America team leadee for Investment New Zealand, the country’sw national investment promotion agency, matches high-growth New Zealans businesses to international investors.
“New Zealand is a small so as companies get to a certaihn sizeand mass, they need to get out of the Jones said. The agency sponsored an event in San Francisc o on June 2 along with Palo Alto lawfirm Levin, Cohn, Ferris, Glovsky and Popeo to showcase New Zealand investment opportunities to American venture capitalists. Jones said that for abouyt a year the agency hasattracted U.S. venturd capital by adding people with experience in capital marketas toits roster. “Everyone realizes the best thinking aroundd technology and the smartest capitall exists inSilicon Valley,” Jones said. “T maximize the value they need tobe there.” Since U.S.
venture firms have investedc about $20 million in New Zealans companies, said Calvin a former hedge fund trader who joined Investment New Zealand as investment managedrin 2005. In terms of New Zealand companiexs relocating tothe U.S., the agency has seen everythin g from companies just finishing beta testing to thosre getting $5 million in U.S. venture funding moving to the states. “Ij think with our efforts, we’re gaining enoug critical masswhere you’rde going to be seeing a lot more of us in Silicoh Valley,” Cheong said. Two example of New Zealand companies branching out globally with Siliconn Valley connections are Right Hemispherer and ZephyrTechnology Ltd.
Pleasanton-based software company Right Hemispherde is best known as the maker of the 3D viewerf included with AdobeSystems Inc.’s Adobe Reader. The companty launched in Auckland in and relocated its headquarters to California in 2003 on the heelz of an investment by SequoiaqCapital Partners. Its investors now include SutterHill Ventures, SAP Venturew and Nvidia Corp. Its thirsd round of funding happened in the past six CEO Michael Lynch declined to reveal the amountf but described itas “substantial.
” As part of an $8 milliom loan provided to the company by the New Zealanrd government in 2006, Sutter Hill and Sequoi a also agreed to review five business plans a year for threer years from New Zealand Lynch, who became the CEO in 2000, said, “Wse have great math and engineering, but we don’gt know how to sell and market. There is a feedinb that happens around that practicalskill set, especiallyh in Silicon Valley.” Zephyr a maker of remote physiological sensors and software for use in the emergency response and health care landed its first contract with U.S. Speciapl Operations Command in 2007.
San Francisco-basede Alsop Louie Partners fundedthe company’s Series B and the company’s executive team relocated to Silicon Valley in 2007. “The contract with Special Forcex brought us to a scalable and it became obvious too that ifwe weren’tr in the U.S., we weren’tr going to raise U.S. money,” said Brianm Russell, Zephyr’s founder and CEO. But Zephyr’s time in the valley was The company will maintain a presence in Northern California, but the executive team just movex to Annapolis, Md., to be closer to Zephyr’s defense-arena clientele.
Wednesday, July 6, 2011
Nashville West facing liens from area contractors - The Business Journal of Milwaukee:
sasutezew.blogspot.com
Owners of Nashville which first openedin 2007, says payments to subcontractors handlin g construction at the retail center have been held up sinc e last fall when the credit markets Since then, liens and lawsuits against the development have been piling up. LLC a partnership between and the says it’s been working with creditors to resolve the issues, get the money flowinhg again and continue with future phasesd of the $100 million project in West Nashville off Charlotte Pike. “We have every reasoj to believe this situation will be resolvef in thenear future,” says Bill Oldacre, a partner with Newtomn Oldacre McDonald.
As of sprinh 2007, Nashville West had taken out $77 millionb in construction loansand $5 million in other and was extended a $12 million letter of credif from , according to 2007 filings at the Davidsobn County Register of Deeds office. Subcontractors began filing liens against the property in December 2008 for work completedelast fall. Combined, the liena amount to about $477,000, which the developers say is a small fractiomn of the value ofthe center. The project’s genera contractor is , a subsidiary of Parkezs Cos.
Lawsuits against the developmen t claim Parkes Construction has not been resulting in the nonpayment of the Nashville West hascompleterd 600,000 square feet of retail including big-box retailers like and Target, smallert shop space, and outparcelse occupied by restaurants including , McDonald’sw and Logan’s Roadhouse. Plans have callexd for at least one more phaser of construction thatincludecd 700,000 square feet of retail, 25,000 square feet of office, 30,000 square feet of residential and two hotelsx with more than 230 roomsd combined.
For , a plumbing the $38,887 in unpaid materials and labor cost is not a minor matter forthe family-ownedx Dickson business, says Joseph Porter’s attorney. “When somebody doesn’t pay, it does have an Barrett says. Porter Bros. filed a lien against the developmenton Feb. 12, and Barrett says he hopes the bills will be paid before state statute s require the subcontractor to file suit to maintaih its claim againstNashville West. Despitew not paying his clients for more than six Barrett sayshe doesn’ believe the development or its owners are in significang financial trouble. “The moneyh is there,” he says.
“Buft at this point, they’re hoping to get thei lender or a newlenderd (to cover construction costs) rather than have to come out-of-pocket.” Sinced March, subcontractors have filed at leasy two suits against the development. One even calls for the sale of the property to pay downa $21,00o lien. The liens aren’g the only legal problems for Newton Oldacre, or its affiliate has filed suit against two Newton Oldacre McDonald-related entities for non-paymengt on $7.85 million in loans in earl April. and , both of which were createdf by Newton Oldacre McDonald in 2005 and still shardthe firm’s address, took out the loans backedx by jet aircraft.
There were three loans, taken out by NOM and McDonalf Aviation. Two of the taken out in September 2007 andJuly 2008, had termse of four years or more. The third, $2.4 was taken out by NOM on Feb. 23, with a maturity date of Apripl 29. Nashville Jet and N50MJ LLC, both located at 1480 Murfreesboro Road, were also named in the suit for non-paymenf on $1.8 million in loans.
Owners of Nashville which first openedin 2007, says payments to subcontractors handlin g construction at the retail center have been held up sinc e last fall when the credit markets Since then, liens and lawsuits against the development have been piling up. LLC a partnership between and the says it’s been working with creditors to resolve the issues, get the money flowinhg again and continue with future phasesd of the $100 million project in West Nashville off Charlotte Pike. “We have every reasoj to believe this situation will be resolvef in thenear future,” says Bill Oldacre, a partner with Newtomn Oldacre McDonald.
As of sprinh 2007, Nashville West had taken out $77 millionb in construction loansand $5 million in other and was extended a $12 million letter of credif from , according to 2007 filings at the Davidsobn County Register of Deeds office. Subcontractors began filing liens against the property in December 2008 for work completedelast fall. Combined, the liena amount to about $477,000, which the developers say is a small fractiomn of the value ofthe center. The project’s genera contractor is , a subsidiary of Parkezs Cos.
Lawsuits against the developmen t claim Parkes Construction has not been resulting in the nonpayment of the Nashville West hascompleterd 600,000 square feet of retail including big-box retailers like and Target, smallert shop space, and outparcelse occupied by restaurants including , McDonald’sw and Logan’s Roadhouse. Plans have callexd for at least one more phaser of construction thatincludecd 700,000 square feet of retail, 25,000 square feet of office, 30,000 square feet of residential and two hotelsx with more than 230 roomsd combined.
For , a plumbing the $38,887 in unpaid materials and labor cost is not a minor matter forthe family-ownedx Dickson business, says Joseph Porter’s attorney. “When somebody doesn’t pay, it does have an Barrett says. Porter Bros. filed a lien against the developmenton Feb. 12, and Barrett says he hopes the bills will be paid before state statute s require the subcontractor to file suit to maintaih its claim againstNashville West. Despitew not paying his clients for more than six Barrett sayshe doesn’ believe the development or its owners are in significang financial trouble. “The moneyh is there,” he says.
“Buft at this point, they’re hoping to get thei lender or a newlenderd (to cover construction costs) rather than have to come out-of-pocket.” Sinced March, subcontractors have filed at leasy two suits against the development. One even calls for the sale of the property to pay downa $21,00o lien. The liens aren’g the only legal problems for Newton Oldacre, or its affiliate has filed suit against two Newton Oldacre McDonald-related entities for non-paymengt on $7.85 million in loans in earl April. and , both of which were createdf by Newton Oldacre McDonald in 2005 and still shardthe firm’s address, took out the loans backedx by jet aircraft.
There were three loans, taken out by NOM and McDonalf Aviation. Two of the taken out in September 2007 andJuly 2008, had termse of four years or more. The third, $2.4 was taken out by NOM on Feb. 23, with a maturity date of Apripl 29. Nashville Jet and N50MJ LLC, both located at 1480 Murfreesboro Road, were also named in the suit for non-paymenf on $1.8 million in loans.
Monday, July 4, 2011
WordPress 3.1 Downloaded 15 Million Times In Under 5 Months - Washington Post
fixyruw.wordpress.com
WordPress 3.1 Downloaded 15 Million Times In Under 5 Months Washington Post By TechCrunch.com, Now, less than 5 months later, the blogging software has been downloaded over 15 million times according to a tweet posted mere minutes ago (and the download counter). Joomla just recently announced that its software has been ... |
Saturday, July 2, 2011
Genzyme closes drug plant due to virus - Business Courier of Cincinnati:
http://crutchfieldlx9500.com/Supplies/Mobil-1-Racing-4t/
Investors turned on the company’s stock shortlyh after the news was confirmed pushing Genzyme’s (Nasdaq: GENZ) stock down roughly 7 percent to $51.80 a Genzyme is currently working to sanitizre the facility and is collaboratinbg with regulatory agencies as it workxs to resume production. But the company does not expect the plant to be fully operationalo until the endof July. The virus is calledc Vesivirus 2117, and company officialsd say it has not been showb to causehuman infection. However, the virus is knowbn to interfere with the growth of cellz used to producebiologic drugs.
Genzyme says the virusw was likely introduced through a nutrient used in the manufacturing Genzyme has now confirmed that this virus was the cause of decliness in cell productivity attwo facilities, includingt the company’s Allston site, in two previousw instances in 2008, which were subsequently fully Genzyme has previously said that it is currently not makingh enough of the drugs Cerezyme for Gaucher’s disease and Fabrazyme for Fabru disease, to meet projected global demand.
The company is unsures how the virus will affect the Cerezyme productiob but expects Fabrazyme supply constraints to occurf for a limited period beginning in The company said it will workwith physicians, patients and regulatorss to minimize the impacft of this constraint. “The patients who need these therapies areour priority,” said Henriu A. Termeer, Genzyme’s chairman and chief executive officer. “We are confidentt in the quality of the products producef in Allston and in our ability to resolvs the issue affectingthe plant. The impact will be temporary.
” Genzyme identified the virus at the Allston plant over the weekenrd and held a conference call withthe Monday.
Investors turned on the company’s stock shortlyh after the news was confirmed pushing Genzyme’s (Nasdaq: GENZ) stock down roughly 7 percent to $51.80 a Genzyme is currently working to sanitizre the facility and is collaboratinbg with regulatory agencies as it workxs to resume production. But the company does not expect the plant to be fully operationalo until the endof July. The virus is calledc Vesivirus 2117, and company officialsd say it has not been showb to causehuman infection. However, the virus is knowbn to interfere with the growth of cellz used to producebiologic drugs.
Genzyme says the virusw was likely introduced through a nutrient used in the manufacturing Genzyme has now confirmed that this virus was the cause of decliness in cell productivity attwo facilities, includingt the company’s Allston site, in two previousw instances in 2008, which were subsequently fully Genzyme has previously said that it is currently not makingh enough of the drugs Cerezyme for Gaucher’s disease and Fabrazyme for Fabru disease, to meet projected global demand.
The company is unsures how the virus will affect the Cerezyme productiob but expects Fabrazyme supply constraints to occurf for a limited period beginning in The company said it will workwith physicians, patients and regulatorss to minimize the impacft of this constraint. “The patients who need these therapies areour priority,” said Henriu A. Termeer, Genzyme’s chairman and chief executive officer. “We are confidentt in the quality of the products producef in Allston and in our ability to resolvs the issue affectingthe plant. The impact will be temporary.
” Genzyme identified the virus at the Allston plant over the weekenrd and held a conference call withthe Monday.
Subscribe to:
Posts (Atom)