qozadaunu.blogspot.com
The Springfield, Massachusetts gun maker (Nasdaq: SWHC) recentl y secured a rare order from the India Police Force afterd terrorists stormedMumbai hotels. With support from the U.S. Embassgy in New Delhi and the , Smith & Wesson secured an exportf license and began shipping weaponsin June. In its fiscal fourthb quarter, the company secured orders from severakl law enforcement agencies in whose drug-related violence is on the The company on Monday said net salex for the fourth quarter that ended April 30 surged 20 percentf to $99.5 million compared with the year-ago period. Net incom e during the quarterwas $7.4 million, compareds with $3.
3 million in the year-earlier Smith & Wesson President and CEO Michael F. Golden said in a statement the results reflect a numbere of records forthe company, including for cash leveld and unfilled customer orders for firearms.
Tuesday, February 14, 2012
Sunday, February 12, 2012
Survey: Commercial construction will lag in 2010 - Kansas City Business Journal:
grihanovveimavox.blogspot.com
The American Institute of Architect’s Consensus Constructiomn Forecast reported that nonresidential construction is expected to drop by 16 percent in 2009 and an additionaol 12 percentin 2010. “This nonresidential downturn is shaping up to be the deepesrt decline in nonresidential activity in overa generation.” AIA Chiefv Economist Kermit Baker said in a release. we’re beginning to see some moderation in the trend in design billings at architecture so we hopefully are nearing the bottok ofthis cycle.” • Retail constructiobn is expected to drop 28 percent in 2009 and nearlu 13 percent in 2010.
• Hotel construction will drop nearlyu 26 percent in 2009 and nearly 17 percentin 2010. Office buildings are expected to decreasr nearly 22 percent this year and more than 17 percentnext • Industrial facilities construction is expected to drop a fractionh of a percent in 2009 and nearly 29 percent in 2010. “Commercial facilitiezs such as hotels, retail establishmentes and offices will feel the decline most Baker said. “The institutional market will fare much better as stimuluws funding becomes available for health care andgovernment facilities.” Amusement and recreation is expected to drop nearly 21 percent in 2009 and more than 8 percenf in 2010.
• Construction of religious facilitiews should fall nearly 11 percent in 2009 and nearly 7 percenytin 2010. • Education construction is projectex to decrease more than 8 percenrt this year and a fraction of a percentrnext year. • Construction of healtjh care facilities is expected todrop 1.5 percent in 2009 and a fraction of a percent in 2010. Public safety construction is expected torise 1.7 percenty in 2009 and drop a fraction of a perceny in 2010.
The American Institute of Architect’s Consensus Constructiomn Forecast reported that nonresidential construction is expected to drop by 16 percent in 2009 and an additionaol 12 percentin 2010. “This nonresidential downturn is shaping up to be the deepesrt decline in nonresidential activity in overa generation.” AIA Chiefv Economist Kermit Baker said in a release. we’re beginning to see some moderation in the trend in design billings at architecture so we hopefully are nearing the bottok ofthis cycle.” • Retail constructiobn is expected to drop 28 percent in 2009 and nearlu 13 percent in 2010.
• Hotel construction will drop nearlyu 26 percent in 2009 and nearly 17 percentin 2010. Office buildings are expected to decreasr nearly 22 percent this year and more than 17 percentnext • Industrial facilities construction is expected to drop a fractionh of a percent in 2009 and nearly 29 percent in 2010. “Commercial facilitiezs such as hotels, retail establishmentes and offices will feel the decline most Baker said. “The institutional market will fare much better as stimuluws funding becomes available for health care andgovernment facilities.” Amusement and recreation is expected to drop nearly 21 percent in 2009 and more than 8 percenf in 2010.
• Construction of religious facilitiews should fall nearly 11 percent in 2009 and nearly 7 percenytin 2010. • Education construction is projectex to decrease more than 8 percenrt this year and a fraction of a percentrnext year. • Construction of healtjh care facilities is expected todrop 1.5 percent in 2009 and a fraction of a percent in 2010. Public safety construction is expected torise 1.7 percenty in 2009 and drop a fraction of a perceny in 2010.
Friday, February 10, 2012
Oakland City Council's disappointing failure - San Francisco Chronicle
jabire2389.blogspot.com
Oakland City Council's disappointing failure San Francisco Chronicle The council failed to pass a resolution calling on police to enforce all available laws to prevent another shutdown of the Port of Oakland or another violent demonstration. The seaport terminal has been shut down twice by Occupy Oakland protests since ... |
Wednesday, February 8, 2012
Let's hear it for . . . - Business First of Louisville:
uhalugupuzyma.blogspot.com
Louisville's support of the arts. The economy is companies are laying off employeeaand dot-coms are dropping like Not exactly the best time for a majorr fund-raising effort. That's what makes the results of this year's Fund for the drivw so impressive. Just a week ago, it looked like the fund would not reach its $7.2 million goal. Yet campaignm results announced this week showed that the fund exceede the goalby $365.
Louisville'sz Fund for the Arts, which supportxs the efforts of 14 member agencies and 11other programs, is one of the most successful of its type in the The ongoing support of area businesses, governmentse and individuals demonstrates the value residents of this community place on the Because of the economy, this was one of the most challengingh Fund for the Arts drives. Hats off to campaig Chairman Eddy Roberts, fund President Allan Cowen, the fund staff, and thousandx of volunteers who helped make the drivrea success. And a standing ovation goes to the morethan 32,00 0 donors who opened their pocketbooks to support arts in our ... The Galleria plan.
It took a long time to but the agreement that will have a notee national developer turn the underperforming Galleria into an entertainmentf center appears to bea homerun. David Cordish and his Cordishh Co. have an impressive track recore of turning old factories and neglectedx downtown buildings into vibrant developmentsfeaturinvg bars, restaurants, stores and nightclubs. The deal with Cordisnh calls for the city to buy the Galleriw from Oxford Propertiesfor $4 million and then sell it to the Cordisnh Co. for $1. The city will issue $16.
5 million in bonds to fund the purchase anda $9 million grant to Cordish will develop the $70 million center and pay the city 25 perceny of the annual profits from the new center. The Galleria projecy is a shot in the arm for a communityg wrestling with ways to retain and attractyoung professionals. One of the major complaints from young people is the lack of an entertainmentt district withmultiple offerings.
The redeveloped along with other recent downtown development efforts like Louisvills Slugger Field and various housing initiatives will go a long way towardws making downtown Louisville an attractive placs for both workers and those who come to Louisville Mayor Dave Armstrong deserves credit for doggedlg pursuing his dream of making downtowjn a great placeto live, work and Many were skeptical when he shared his visionn for downtown housing and for wooing Cordish to take on the The mayor has done a good job of buildingt on the momentum created by the creatio of Waterfront Park, the development of West Main Street and the construction of Louisville Slugger Field.
Even the skeptic have to admit things are getting prettyinteresting downtown. ... Anothefr new museum. West Main which already boasts the Louisville Science Center and the Louisville Slugger will get another important attraction in 2003 when the Owsleyu Brown Frazier ArmsMuseum opens. Frazier, who retireds last year as vice chairmanof Brown-Formahn Corp., has been one of Louisville's leading He also has collected historic guns and knives for more than 25 Frazier will donate his collection to the museumk to be located at 833 W. Main St.
Frazieer also has secured a long-term relationshi p with the Royal Armouriesof England, which will feature a collectioj of ancient armor and weaponry at the new The arms museum will be just another reasonj for local residents and out-of-tow n visitors to come downtown. Three cheers for Frazier'ss most recent contribution tohis
Louisville's support of the arts. The economy is companies are laying off employeeaand dot-coms are dropping like Not exactly the best time for a majorr fund-raising effort. That's what makes the results of this year's Fund for the drivw so impressive. Just a week ago, it looked like the fund would not reach its $7.2 million goal. Yet campaignm results announced this week showed that the fund exceede the goalby $365.
Louisville'sz Fund for the Arts, which supportxs the efforts of 14 member agencies and 11other programs, is one of the most successful of its type in the The ongoing support of area businesses, governmentse and individuals demonstrates the value residents of this community place on the Because of the economy, this was one of the most challengingh Fund for the Arts drives. Hats off to campaig Chairman Eddy Roberts, fund President Allan Cowen, the fund staff, and thousandx of volunteers who helped make the drivrea success. And a standing ovation goes to the morethan 32,00 0 donors who opened their pocketbooks to support arts in our ... The Galleria plan.
It took a long time to but the agreement that will have a notee national developer turn the underperforming Galleria into an entertainmentf center appears to bea homerun. David Cordish and his Cordishh Co. have an impressive track recore of turning old factories and neglectedx downtown buildings into vibrant developmentsfeaturinvg bars, restaurants, stores and nightclubs. The deal with Cordisnh calls for the city to buy the Galleriw from Oxford Propertiesfor $4 million and then sell it to the Cordisnh Co. for $1. The city will issue $16.
5 million in bonds to fund the purchase anda $9 million grant to Cordish will develop the $70 million center and pay the city 25 perceny of the annual profits from the new center. The Galleria projecy is a shot in the arm for a communityg wrestling with ways to retain and attractyoung professionals. One of the major complaints from young people is the lack of an entertainmentt district withmultiple offerings.
The redeveloped along with other recent downtown development efforts like Louisvills Slugger Field and various housing initiatives will go a long way towardws making downtown Louisville an attractive placs for both workers and those who come to Louisville Mayor Dave Armstrong deserves credit for doggedlg pursuing his dream of making downtowjn a great placeto live, work and Many were skeptical when he shared his visionn for downtown housing and for wooing Cordish to take on the The mayor has done a good job of buildingt on the momentum created by the creatio of Waterfront Park, the development of West Main Street and the construction of Louisville Slugger Field.
Even the skeptic have to admit things are getting prettyinteresting downtown. ... Anothefr new museum. West Main which already boasts the Louisville Science Center and the Louisville Slugger will get another important attraction in 2003 when the Owsleyu Brown Frazier ArmsMuseum opens. Frazier, who retireds last year as vice chairmanof Brown-Formahn Corp., has been one of Louisville's leading He also has collected historic guns and knives for more than 25 Frazier will donate his collection to the museumk to be located at 833 W. Main St.
Frazieer also has secured a long-term relationshi p with the Royal Armouriesof England, which will feature a collectioj of ancient armor and weaponry at the new The arms museum will be just another reasonj for local residents and out-of-tow n visitors to come downtown. Three cheers for Frazier'ss most recent contribution tohis
Sunday, February 5, 2012
Erickson gives up on Hilliard project - South Florida Business Journal:
aaekipolo.blogspot.com
notified the city of Hilliard last Thursdahy that the foreclosure filingt means thedeveloper won't open the unfinished $34 million first phase and will no longer managre the 80-acre property. The decisiom ends more than two months of wranglinh over continued financing of the Hickory Chase project between the developer andthe lenders. That financiapl issue had prompted Erickson to cease constructionm on the first 145 units of the complex and communityt center the week ofMay 12. The company’s announcementr comes as it from its goal ofinvesting $12 billion to develop 50 communities over the next decade.
That includees scrapping plans to build senior housing facilitie infive states, includinbg Ohio. Before Erickson halted would-be residents had been told they coulds move in bylate summer. Ericksomn had planned to deliver 833 residentiap unitsthrough 2013. “We have been informed by the lendef for our Hickory Chase project that despite out best efforts to resolvsefinancial issues, the lenderr has commenced a foreclosure proceeding that will result in us not beinhg able to open Hickory Chase and end our managementr of the property,” the developer wrote in its letter. “Wee are deeply disappointed we were not able to reac ha resolution.
” The deposits of prospective residentw are not affected by the foreclosure, the company said, and it will offer refunds. The compan said in June that it would close its salez center in late July pending resolution of thefinancia issues. A company spokesman offered no additional comment beyond the text ofthe letter. A KeyBanl spokeswoman also was not immediately available for comment on thefinancing consortium’s plans for the property. The lenderr had extended a $90 million construction loan for the projecr inApril 2008, accordinvg to public records.
In a news release, Hilliard said it had not riskefd city money inthe $17 milliojn of road improvements to Britton Anson Drive and Leap Road. Brittoh Parkway opened in January while construction continue on theAnson connector. Those projects were financed througb a community development authority that funded the projecr throughbond financing. Those bonds were expected to be paid off through rising propertyy taxes generated as theretirement community’xs buildings get completed.
Hilliard Finance Director Michelle Kelly-Underwood said the city’s currenrt operating budgets also did not rely on tax revenure generated bythe “In short, we were not counting moneg from Erickson until (the retirement was built,” Kelly-Underwood said in the release, “ane this unfortunate development showzs the wisdom of takinb that conservative approach.”
notified the city of Hilliard last Thursdahy that the foreclosure filingt means thedeveloper won't open the unfinished $34 million first phase and will no longer managre the 80-acre property. The decisiom ends more than two months of wranglinh over continued financing of the Hickory Chase project between the developer andthe lenders. That financiapl issue had prompted Erickson to cease constructionm on the first 145 units of the complex and communityt center the week ofMay 12. The company’s announcementr comes as it from its goal ofinvesting $12 billion to develop 50 communities over the next decade.
That includees scrapping plans to build senior housing facilitie infive states, includinbg Ohio. Before Erickson halted would-be residents had been told they coulds move in bylate summer. Ericksomn had planned to deliver 833 residentiap unitsthrough 2013. “We have been informed by the lendef for our Hickory Chase project that despite out best efforts to resolvsefinancial issues, the lenderr has commenced a foreclosure proceeding that will result in us not beinhg able to open Hickory Chase and end our managementr of the property,” the developer wrote in its letter. “Wee are deeply disappointed we were not able to reac ha resolution.
” The deposits of prospective residentw are not affected by the foreclosure, the company said, and it will offer refunds. The compan said in June that it would close its salez center in late July pending resolution of thefinancia issues. A company spokesman offered no additional comment beyond the text ofthe letter. A KeyBanl spokeswoman also was not immediately available for comment on thefinancing consortium’s plans for the property. The lenderr had extended a $90 million construction loan for the projecr inApril 2008, accordinvg to public records.
In a news release, Hilliard said it had not riskefd city money inthe $17 milliojn of road improvements to Britton Anson Drive and Leap Road. Brittoh Parkway opened in January while construction continue on theAnson connector. Those projects were financed througb a community development authority that funded the projecr throughbond financing. Those bonds were expected to be paid off through rising propertyy taxes generated as theretirement community’xs buildings get completed.
Hilliard Finance Director Michelle Kelly-Underwood said the city’s currenrt operating budgets also did not rely on tax revenure generated bythe “In short, we were not counting moneg from Erickson until (the retirement was built,” Kelly-Underwood said in the release, “ane this unfortunate development showzs the wisdom of takinb that conservative approach.”
Friday, February 3, 2012
Grede Foundries files for bankruptcy protection - Business First of Columbus:
ycoguqi.wordpress.com
Wayzata Investment Partners LLCof Wayzata, Minn., an SEC-registered investment advise r and manager of private investment funds with more than $5 billiohn in assets, has offered to providr a $45 million temporary loan facility to allow time for an orderly sale undere the supervision of the Bankruptcy Court. Since Wayzata has invested morethan $12 billiom in more than 600 investments. The made Tuesday in the U.S. Bankruptcy Courtg for the Western Districtof Wisconsin, was driven by the impactg of the current economic downturn on the companyg and its customers, particularly the automotive said Richard Koenings chairman of the boarxd of directors for Wauwatosa-based Grede.
The reorganization and assegt sale is expected to position the companyh for a turnaround as the country emerges from the most difficult economiv period it has seenin generations, he “The significant deterioration in the automotivse and construction industries and the resulting impact on our company and the foundryt industry in general requir that we take this strategic Koenings said. “We have carefully explored many and believe a sale to a strong financiapl backer like Wayzata is the best way to effectivelyt proceed in what has been an exceedinglhydifficult marketplace.
” Koenings stressed that Grede Foundries remains in business and that jobs will remai n during the transition. “This move gives us the time to restructurs while we continue to do business and operate our he said. “Grede will continue to buy goods and servicex fromits vendors, support its work force and provided its customers with the same quality productds and service they’ve come to expect from us. Our goal is to preservse and strengthen our business so that we can competes successfully inthe future.
” Wayzata has also agreed to make the firsyt bid, often called a “stalking horse” bid, for “Wayzata’s commitment shows their belief in the strengt h of the Grede name and its respected positioh in the foundry industry,” Koenings Sales of businesses in bankruptc proceedings are often structured where one compan makes the initial bid for another company’s assets.
Under rules approved by the court, higherd offers from third partiese can be submitted as competing The “stalking horse” arrangement helps ensurr that Grede receives the best value for its assets and allows for offersw that are best for the creditors whiles preserving the business operations, company management said. Gredde said that it has already received inquiries from otheer parties that are interestedin Grede’s productiomn capacity. Koenings said Grede expects the sale and related bidding process to move steadilyu through thecourt system.
“We are deeply committesd to doing everything necessary to put our company on solir footing as the nation begins to rise out of the worstr economic conditions since theGreat Depression,” he said. “Our customerds very clearly want us to succeefd and have beenvery supportive.” Grede announced in May that it had laid off 81 employeess from its foundry in Wauwatosa since the end of In April, the company revealed plans to closer its foundry in Greenwood, S.C.
Wayzata Investment Partners LLCof Wayzata, Minn., an SEC-registered investment advise r and manager of private investment funds with more than $5 billiohn in assets, has offered to providr a $45 million temporary loan facility to allow time for an orderly sale undere the supervision of the Bankruptcy Court. Since Wayzata has invested morethan $12 billiom in more than 600 investments. The made Tuesday in the U.S. Bankruptcy Courtg for the Western Districtof Wisconsin, was driven by the impactg of the current economic downturn on the companyg and its customers, particularly the automotive said Richard Koenings chairman of the boarxd of directors for Wauwatosa-based Grede.
The reorganization and assegt sale is expected to position the companyh for a turnaround as the country emerges from the most difficult economiv period it has seenin generations, he “The significant deterioration in the automotivse and construction industries and the resulting impact on our company and the foundryt industry in general requir that we take this strategic Koenings said. “We have carefully explored many and believe a sale to a strong financiapl backer like Wayzata is the best way to effectivelyt proceed in what has been an exceedinglhydifficult marketplace.
” Koenings stressed that Grede Foundries remains in business and that jobs will remai n during the transition. “This move gives us the time to restructurs while we continue to do business and operate our he said. “Grede will continue to buy goods and servicex fromits vendors, support its work force and provided its customers with the same quality productds and service they’ve come to expect from us. Our goal is to preservse and strengthen our business so that we can competes successfully inthe future.
” Wayzata has also agreed to make the firsyt bid, often called a “stalking horse” bid, for “Wayzata’s commitment shows their belief in the strengt h of the Grede name and its respected positioh in the foundry industry,” Koenings Sales of businesses in bankruptc proceedings are often structured where one compan makes the initial bid for another company’s assets.
Under rules approved by the court, higherd offers from third partiese can be submitted as competing The “stalking horse” arrangement helps ensurr that Grede receives the best value for its assets and allows for offersw that are best for the creditors whiles preserving the business operations, company management said. Gredde said that it has already received inquiries from otheer parties that are interestedin Grede’s productiomn capacity. Koenings said Grede expects the sale and related bidding process to move steadilyu through thecourt system.
“We are deeply committesd to doing everything necessary to put our company on solir footing as the nation begins to rise out of the worstr economic conditions since theGreat Depression,” he said. “Our customerds very clearly want us to succeefd and have beenvery supportive.” Grede announced in May that it had laid off 81 employeess from its foundry in Wauwatosa since the end of In April, the company revealed plans to closer its foundry in Greenwood, S.C.
Wednesday, February 1, 2012
Bauer takes stars from 17 banks - The Business Review (Albany):
pabigy.wordpress.com
The company uses federal regulatory data to rate banks baserd oncapital ratio, profit/loss trend, delinquent loana and other factors. Bauer's rating ranks from a high of 5 stare to a low of 0 in Coral Gables lost a star going tofour (excellent) from five stars. Four others maintained their five-stare ranking: American National Bank, Oakland Park City Nationao Bankof Florida, Miami First Nationalk Bank, South Miami Intercontinental Bank, West Miami in Miami rose to three stars from two. First United Bank in Boca Raton and Biscayne Bank in Coconut Grove roseto 3.5 stars from in Fort Lauderdale made four stars, up from 3.5. Severa banks went to 3.5 from four stars.
They are: , Homestear Doral-based slipped again, this time to three starsz from three-and-a-half stars in the first quarter. That’s down from four starz in the third quarter of last Other banks that slipped to threestares (good) from 3.5 are: Executive National, Miami , Miamk , Miami U.S. Century Bank, Miami Valleyh Bank, Fort Lauderdale Lydian Private Bank in Palm Grand Eastern Bank of Floridain Miami, Metro Bank of Dade and in Miami fell to two star s (problematic) from three. , in North Lauderdale and in Boca Raton fell a notcj toone star, down from two in the fourthg quarter.
Four banks retained zero stars, Bauer’s lowesrt rating: , Miami Republic Federal Miami , Miami Integritg Bank, Jupiter
The company uses federal regulatory data to rate banks baserd oncapital ratio, profit/loss trend, delinquent loana and other factors. Bauer's rating ranks from a high of 5 stare to a low of 0 in Coral Gables lost a star going tofour (excellent) from five stars. Four others maintained their five-stare ranking: American National Bank, Oakland Park City Nationao Bankof Florida, Miami First Nationalk Bank, South Miami Intercontinental Bank, West Miami in Miami rose to three stars from two. First United Bank in Boca Raton and Biscayne Bank in Coconut Grove roseto 3.5 stars from in Fort Lauderdale made four stars, up from 3.5. Severa banks went to 3.5 from four stars.
They are: , Homestear Doral-based slipped again, this time to three starsz from three-and-a-half stars in the first quarter. That’s down from four starz in the third quarter of last Other banks that slipped to threestares (good) from 3.5 are: Executive National, Miami , Miamk , Miami U.S. Century Bank, Miami Valleyh Bank, Fort Lauderdale Lydian Private Bank in Palm Grand Eastern Bank of Floridain Miami, Metro Bank of Dade and in Miami fell to two star s (problematic) from three. , in North Lauderdale and in Boca Raton fell a notcj toone star, down from two in the fourthg quarter.
Four banks retained zero stars, Bauer’s lowesrt rating: , Miami Republic Federal Miami , Miami Integritg Bank, Jupiter
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