Saturday, September 29, 2012

Hospitality service firm challenges single-family home rental ban - South Florida Business Journal:

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Miami Beach-based filed a lawsuit in Miami-Dade County Circuit alleging the city's prohibition on single-family home rentals of less than six monthes is unconstitutional because it underminesthe owner's propert y rights. Villazzo, which provides services - from chauffeurs to homew - to the rich and famous, also alleges the city nevef turned the policyinto law, makint it unenforceable. "Despite its failure to have codifiedthis administration'sd interpretation, the city continue to enforce it and give it full legal forcee and effect," the lawsuit says of the seven-year-old The complaint, filed Sept.
17 in Miami-Dadwe County Circuit before JudgeKevin Emas, namews Villazzo and the 9,900-square-foot waterfront mansion it owns at 10 Palm on Palm Island, as plaintiffs. Plaintiff's attorney John Shubin said city planning directoe Jorge Gomez authoredthe "administrative as a reaction to complaintz from disgruntled neighbors about fly-by-night renters, their "party houses" and "obnoxious behavior." Gomeaz did not return several calls seeking comment. Jose Miami Beach's attorney, said the case was frivolouss andthe city's position was legally sound.
He would not comment on allegation s made inthe lawsuit, including the fact that city stafc is executing a policy that was not approvexd by the commission. In the last decade, Miamk has become a chic location for internationally televised event like theLatin Grammys, the MTV Videol Music Awards, and the Superd Bowl. Post-event parties held in waterfronty mansions have gotten as much press as the events Some hostsof "hip-hoo parties" from a few years ago charged to get in, turningg events in single-family neighborhoods into a commercial enterpris - another city no-no, according to Villazzp principal Richard Freeman.
The city'sz code enforcement department cited the owner ofa single-family home on Pine Tree Drivw because of a party sponsored by fashion and perfume companuy Chanel, said Kevin an broker based in Miami The city interprets corporate sponsorshipl of a party as a commercialo enterprise, which is prohibited in single-family Short-term rentals are a hot topic in vacation destinations such as Key West and Miami with local officials claiming they spur crimes and drive up traffic in residential neighborhoods. The issue has taken on nationao prominence as propertyrights organizations, such as the Calif.
-based , have filed lawsuits againsyt governments across the country - including Brevard which challenged prohibitions on vacatiob rentals. Freeman characterizes the city policy asan antibiotic, a broadc remedy to the issue the city was tryinvg to address. "The city can't say no to any hip-hol - that's discrimination. So, it has to either pass a law or enforced a law or interpret existingy laws in a way that woulcd be a broad net that would not be guilty of Freeman said. "This is like sayingt 'because some people drive recklessly, then we will ban all driving.
'" Tomlinso said demand for high-end, short-term home rentale was high in theearly 1990s, but has diminished because of the advent of high-end condo-hotelzs such as the Setai in South He said EWM doesn'tt rent houses for less than six months becauser of the prohibition, but it can rent luxurt condos in the Setai, Acoya and other buildings if the condominium documents alloqw it. He said one housed in high demand on North Bay Road has a monthly carryinbg costof $40,000 and rents for $80,000 a But Freeman said most owners aren'rt in it to make a profit, they want to reduce their carrying costs.
He said like his Villazzo partner, Christian Jagodzinski, primarily live and spenc most of their time in Europe or Latin Renters are at the top ofthe "wealth seeking homes valued at betweenn $5 and $25 million. Thirty-day leasesa were typical, but now run to seven months. Well-heeled renters from the Northeast seek luxurious accommodations without goinf toa resort. Some celebrities seek out single-family mansionds because they want to avoiethe paparazzi. "Clients from Latin America have severalp children and are afraid of kidnappingxand don't want to go to a Freeman said.

Friday, September 28, 2012

Small airports making the most of limited improvement dollars - Pittsburgh Business Times:

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As airport manager and presidentof , the airport'ws fixed base operator, Holman plans to add a general aviatioj air park, an industrial park, a new administratiob building with a restaurant and additional aviation spacw for corporations. All he needs is the fundinfg tomove forward. Yet, there is a limited amount offunding available. PennDot'se Bureau of Aviation receives onlybetween $6 millionn and $8 million annually for its airporft development program.
This money, in is doled out to 138 public-use airports in Pennsylvani fordevelopment projects, such as building hangars, terminapl buildings, runways or Some of it -- abougt 65 percent -- is matched with federal according to Brian Gearhart, engineering manager for PennDot's Bureau of Aviation. And, it can be difficultt for airports to get fundinh from sources outside of the stat andfederal government.
Although almost every locakl airport has something goingon -- ranging from extendingv runways to coming up with new 20-year development plans -- they stillo are struggling to becomr independent from state and federal funding, accordint to Sara Walfoort, transportationb planning manager at the Downtown-based , the regionapl planning agency for a 10-count y area in southwestern Pennsylvania. "Aviatio has made a remarkable comeback since she said. "Now, if we couldx see an economic upturn and get morebusinessw activity, that would be wonderful. Airports are stil struggling tobe self-sufficient and come up with new ways to make Airports such as Latrobe-based get most (97.
5 percent) of their funding for capital projects through state and federak grants. However, the last part is fundes through a local match that comes from the airport and the This money, as well as the airport's operating expenses, come from serviceas such as landing fees, fuel sales, car rentalws and revenue brought in from the airport'ss restaurant. The airport also sometimes issues bonds to get the local monet for thecapital projects, according to Dwayned Pickels, a spokesman for the Westmorelandx County Airport Authority. Butler County Airporyt and Arnold Palmer are both extending their runwaysz to makethem safer.
While Arnold Palmer receiver $9 million in state, federal and local grantws forthe funding, Butler County Airport has received $4 At Arnold Palmer, the move will enable the airport to accommodate a 757 and better servs its charter aircraft by allowing them to take off with more fuel and according to airport manager Gabe Monzo. And, Rock Airporg of Pittsburgh hasreceived $9.3 milliohn in state funding to help pay for a runwaty extension.
The airport just opened up its runway to traffic at the end of January for the firstt time since it began the project fouryear ago, according to Rock Ferrone, president of Ferrone is now working to get additionalp funding for the development of Rock Airport and hopeds the airport will be selected as part of a new federao pilot program designed to pay airports what the valued of the land would be if it were developedf as something else such as a He plans to raise $11 million in fundintg to build a hangar facility, termina building, fuel facility and FBO, as well as for additionapl lighting and a ramp area.
Of the $11 the state has already committed $5 milliobn and Ferrone hopes to get theadditional $6 million from the pilort program. Ferrone expects to find out within the next 90 days whetherf the airport is selected for the If not, he plans to seek out privated lenders. "We would be the first airporrt in the nation to participatein (this) speciall pilot program," he said. "It cures the development rights of privatelyownerd airports.
"

Wednesday, September 26, 2012

Obama Works Virginia Base Voters as Romney Pushes Turnout - Businessweek

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Obama Works Virginia Base Voters as Romney Pushes Turnout

Businessweek


The president has “got a little bit of catch-up work to do,” said Connolly, whose House district covers parts of Prince William and Fairfax counties. “I don't think he's quite closed the deal yet.” Obama in 2008 became the first Democrat to capture ...



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Tuesday, September 25, 2012

Home inventory drops to 8-month supply - Orlando Business Journal:

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Association members sold 2,131 homes last month in the Orlando metropolitannstatistical area, and the sales growth has helpef pare down area inventory supply to single digits for the firsr time this year. June’ws inventory had 17,831 homes available through the MultiplwListing Service, which reflects an 8.4-month supply at the current salesz pace. In January, the Orlando MSA had an inventory leveo that reflecteda 23.6-month supplgy and it has steadily decreasee since.
A market with six months of supply is considererd by housing economists to be balancede between buyersand sellers, the association Inventory is down by 1,292w homes from May 2009, meaning 1,292 more home left the market than entered the market. low prices have primarily driven the increasewin sales, as nearly 46 percenf of the homes were either bank-owneed or distressed property sales. Orlando’s media home price in June was $131,200, a 39 percenr decrease when compared withJune 2008, but a slight increase when comparef with May 2009. Homes in the Orlando area spenf an average of 104 days on the market beforr being sold inJune 2009, and the averagre home sold for 93.
8 percent of its listing price. About 184 single-familu homes sold in the $200,000-$250,000p range, while 10 homes sold for $1 million or more and 118 homea sold for less than All agents in the OrlandoMSA — Lake, Orange, Osceolz and Seminole counties — sold 2,7745 existing homes in June, a 56.9 percent jump when comparer with the 1,768 homes sold in June 2008. To MSA sales are up 53.8 percentf over this time last year, with 12,86w3 sold last month and 8,364 sold in the same month a year Along withstronger sales, 7,230 homes were awaitinbg closings, more than double the 3,329 that were pending at this time last year.
Orlando condpo market resales, meanwhile, went from 136 sold in June 2008 to 394 saleaslast month. To date, 1,781 condos sold this a huge spike from the 691 posted at this timein 2008. There 176 condo units that sold for upto $50,000, whilse 61 sold in the $50,000-$60,000 range and 11 sold for more than Duplex, townhome and villa resales also jumped nearly 32.8 percent, from 131 in June 2008 to 174 last

Monday, September 24, 2012

Refined Copper Imports by China Drop on Economy; Exports Fall - Businessweek

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Refined Copper Imports by China Drop on Economy; Exports Fall

Businessweek


China's refined-copper imports declined 1.3 percent in August from a month earlier as a slowdown deepened in the world's second-largest economy. Inbound shipments were 251,008 metric tons last month, compared with 254,339 in July, according to data ...



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Saturday, September 22, 2012

Cleveland Indians add a few new ingredients against Kansas City for familiar ... - Plain Dealer

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Plain Dealer


Cleveland Indians add a few new ingredients against Kansas City for familiar ...

Plain Dealer


Enlarge Plain Dealer wire services Cleveland Indians first baseman Casey Kotchman watches his throw that put out Kansas City Royals' Eric Hosmer during the fourth inning of a baseball game at Kauffman Stadium in Kansas City, Mo., Friday, Sept. 21, 2012.



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Friday, September 21, 2012

Surprises ahead at Sunday's Primetime Emmy Awards - Washington Post

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Surprises ahead at Sunday's Primetime Emmy Awards

Washington Post


Culture Connoisseurs consistently offer thought-provoking, timely comments on the arts, lifestyle and entertainment. More about badges | Request a badge. Fact Checker Badge. Fact Checkers contribute questions, information and facts to The Fact Checker.



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Wednesday, September 19, 2012

Jim Ryan, Ryan Cos. CEO, dies at 66 - Minneapolis / St. Paul Business Journal:

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Jim Ryan, the CEO of , died Thursdayg morning. Ryan, 66, had been battling melanomq cancer for the past10 months. Duringh his career he helped builxdRyan Cos. into one of the largest constructiob and development firms in Jim became CEO of the compantyin 1989, when he took over for his fatherf Russell. He also was an active philanthropist. He helpedr establish the and , both in southu Minneapolis in 2007. Pat Ryan, Jim’s cousimn and business partner is expected to succeed Jim as CEO ofthe Minneapolis-basex firm, which had 2008 revenue of more than $1 In a statement, Pat Ryan said, “Jim’s goal was not to builc the biggest buildings or be the largesgt company.
His goal was to build charactefr inhis employees, build confidence in our customers and to buile better communities. This world would be a better place if therew were more CEOs withJim Ryan’s values.” Jim is survivef by his wife of 37 yearsa Colleen, children Molly (Mike) Carson, Maggie (Craig) Kate (Zach) Hegman, Tim, Nell, Dan, Sean and and six grandchildren. Funeral arrangements are Among hismany honors, Ryan of the Businesas Journal ’s Best in Real Estate Caree Achievement Award. Jim Campbell, a retired Wells Fargko executive and friend of 25 yearsesaid he's never known a more solicd and wholesome guy than Jim Ryan.
"I've nevedr ever heard anyone say a negative word about Jim and that's from a wide variety of Ryan always had a vision for what coul d be done, Campbell said. The formee Sears building on Lake Street in Minneapoli s thatRyan Cos. helped transform into the MidtownExchange mixed-use project is a greayt example of his work. "That building sat there, with the lightsw out for 10 years and he always had faithg that somehow it wouldcome together," Campbello said. Despite so many challenges to that Ryan just kept plowing Campbell saidRyan Cos. is well situatesd to succeed in the future due to its stronghfamily culture.
"These are interesting times for all andRyan [Cos.] is committed to keep going forward just in the way that Jim had alwayxs envisioned."

Tuesday, September 18, 2012

Ahoy! New biz in the air - Pacific Business News (Honolulu):

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But a new door of opportunity for Cunningham’zs opened when the city of Tavares voted to designate a virtua runway for seaplanes in the middle of Lake Dora inJuly 2007. That led to a cost-saving deal with Orlando-based aircraft maker , which wantsd to be near what’s turnint into one of the largestf seaplane bases in Florida with its specialthyproduct — the SeaRey — an assembly kit seaplane. a small, family-owned firm, wants to expanrd to Tavares and could find no betted placethan Trident’s 23,000-square-foot boat production facilitgy on Lake Idamere near State Road 19. Aerodyne now is negotiatingt to lease halfthe facility.
The process of building boatsd and seaplanes is similar when it comes to welding and fiberglase andaluminum production. “The idea is to reduce the cost of Cunningham said. “Even though the productzs are different, they’re similar enough and thers can be a lot of Despite theeconomic recession, both firms will add a handful of new employees to theirr businesses when they settle in together on Lake Idamere. With businesz waning in the U.S., both firms have begun usingv new business models to expand theircustomefr base.
Darrell Lynds, general manager for Aerodyne, said his companyh is eyeing China to meetthe pent-u demand for civilian aircraftr as the country begins opening airspace to the Trident has a similar idea in mind when it comesd to selling pontoon boats. Until 70 percent of Trident’s products were exportedd overseas, bringing in $2.4 million annually. Since then, the company has focused on domestic sales, but in they only brought in $1.3 million. This caused the companyt to focus on exporting overseas again.
Seaplanes have been landingg on Lake Dorafor decades, but when the Tavaresz City Council voted to create a designated landinb zone on the lake that will be operationakl next year, seaplane enthusiast and local businesses alike got excited. Sincwe then, 14 new businesses have opened in the downtown area, many of them catering to the seaplanew community, said Tavares city administratot John Drury. , on the edge of Lake has seen its fair share of seaplane pilotzs in its 25 years of But ownerAndrew O’Keefe doesn’t expect business to pick up until the seabase is completed in Februarty 2010. Still, he’s happy to see the changes.
“Th e city is working on bringing a lot of attractionsd tothe area.” The plannexd seaplane base is economic developmentf in its purest form, Drury “By proposing a seaplane base a year ago, the result is an attraction that will created high-wage jobs.” The city is workintg with the and the to lay out the virtuap runway and its holdinh patterns over the lake. Althoughn the lake won’t have any physicak markers, pilots will have aeronautical chartsd to tell them where they should landor “The way they are marketing this, they’rr going to make it one of the largest seaplane bases on the east coast,” said Progressive Aerodyne ownee Kerry Richter.
“It’ll be an attraction for seaplane pilotsx in the area and it will have uniquenessfor

Monday, September 17, 2012

Stamps launch formal study into knee injury epidemic - Calgary Herald

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Stamps launch formal study into knee injury epidemic

Calgary Herald


But because this is a high incidence, it's reasonable for our medical staff to investigate it and make sure that there isn't something we can do preventively.” Worth noting is that more than half of those knee injuries took place at McMahon Stadium ...



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Saturday, September 15, 2012

Paul Ryan taps Ted Olson to play Biden in debate prep - Washington Post

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ABC News (blog)


Paul Ryan taps Ted Olson to play Biden in debate prep

Washington Post


Republican vice presidential nominee Paul Ryan has tapped former U.S. solicitor general Ted Olson to play the role of Vice President Biden in preparations for next month's debate. Olson is best known as the top Republican attorney who, along with New ...


Paul Ryan's Debate Prep Partner Will Be Attorney Ted Olson

ABC News (blog)


Ryan Debate Partner Revealed

Fox News (blog)


Ted Olson to play Biden in Ryan debate prep

CBS News


Huffington Post -CNN (blog) -NBCNews.com


 »

Friday, September 14, 2012

Survey: Employee morale improving - Jacksonville Business Journal:

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Twenty-four percent of respondents thoughf morale hadgone down. “These results prove that employees are happier and more likely to stay with their companies due to the quality oftheier management,” Burton Goldfield, president and chief executiver officer of TriNet, said in a news “Companies that develop the skills of theie leaders boost their employment brand which then positivelgy contributes to employee morale.” Compan y culture and reputation was the biggest factor that held morald together, according to 36 percent of respondents. Othef factors included flexibility, a good balancse between work and life, and job security.
The surveyh also found that while the intent to hire had all but disappeared fromlate 2008, hiring was on a slighft upswing over the past three months with more than 60 percent of respondents saying they were currently hiring or tryin to attract talent, comparedd with 55 percent in the firstt quarter of 2009. More than 250 small-business leaderds responded tothe survey. San Leandro, Calif.-basex TriNet provides human resources outsourcing and consultingh services tosmall

Thursday, September 13, 2012

Conklin-Fangman will fight GM

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The midtown Kansas City dealer plans toappeal ’s decision to end its franchise agreement next year and is repealing the June 13 closing date it had set, Generao Manager David Hughes said Friday. “We have every intention of staying in the game as longas we’rs allowed to,” he said. “We intend to fight it with everythingy we can and stayin business. We have a grea t location in the middle of a great city withwinninb employees.” But they’ll have to move fast. Additionall information must be e-mailed to GM by the close of business on GM spokeswoman SusanGarontakow said.
The company will take the information into considerationb andrespond immediately, either reinforcinvg its decision or mailinhg a participation agreement by June 12. GM alreadyy has sales and revenue data, so the additional information wouldbe separate, she said, thoughb she didn’t provide examples. we feel that we’ve identified all of the aread that particular dealers may have been underperforming Garontakos said. “But you never know, there’s always a chance for error.” She said that she wouldf expect errors to be minimal but that GM wants to makesure it’s been fair about a “very serious business decision.
” Garontakos pointed out that in a hearing before Congress this week, GM CEO Fritz Henderson said that 11 decisions had been Conklin-Fangman, at 3200 Main St. in Kansaes City, was notified by GM (NYSE: GM) on Tuesdayt that its franchise agreement wouls not be renewed inOctober 2010. The which has about 130 Pontiac, Buick, GMC and Cadillaxc vehicles onits lot, employsz 80 people and has existed for more than a from . Before that, it had been a GM franchise for 99 years with theMajord family. The dealership’s holding company, , also owns dealershipsw called Conklin Carsin Salina, Hutchinson and Newton, Kan.
GM, y, is tryinv to pare its 6,000-dealer network to the 3,600 top-performingb dealers. The company’s sales have plummetecd amid the recession.

Tuesday, September 11, 2012

Boston Business Journal: Boston Commercial Real Estate Listings - View Commercial Real Estate

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Monday, September 10, 2012

West Jefferson skill players put Bucs a step ahead of competition - NOLA.com

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NOLA.com


West Jefferson skill players put Bucs a step ahead of competition

NOLA.com


No one needs to tell West Jefferson quarterback Chavin Gouges that he's a lucky man. When asked about all the resources at his disposal, the junior coming into his second year as the starter just sat back in his chair and smiled. “It makes my job super ...



Saturday, September 8, 2012

GE Healthcare opens $165M N. G

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The new 230,000-square-foot facility includeas a 60,000-square-foot cleanroom. The digital X-ray detectors that will be made at the plant are used inmammogramm screening, a growing $1 billion market for breast cancef testing. Much like the transition from papet medical records to streamlined electronicrecor keeping, digital X-rays are slowlyg replacing traditional film X-ray In addition to the 100 new jobs scheduled for the 50 people will transfer to the tech park from GE’s researcg center in Niskayuna.
Positions at the new site will includew15 engineers, 15 administrators and 120 technicians and supportg staff with an average annual salary of The plant is expected to have an annual payrol of $10 million. GE develope its digital X-ray technology at GE Global Researchin Niskayuna. GE said this is the company’zs first expansion of high tech medical equipmen t manufacturing by its health care operation intoNew ”This a wonderful example of how a long-ter m commitment to technology can spur the growth of our manufacturinf base and create new, high-tech jobs,” said Mark GE senior vice president and director of the researcjh center.
GE Healthcare spent 15 years and morethan $200 milliohn developing its digital flat panel X-ray The flat-panel detector is a critical component of an X-rayt system and plays a role in providingf an improved image.

Friday, September 7, 2012

Angel Investment Forum moves south to Jupiter site - South Florida Business Journal:

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The Gunster Yoakley & Stewart associate is the new chairman ofthe three-year-olxd nonprofit Angel Investment Forum of Florida (AIFFL). The groul recently changed its name fromthe . It’s a loose-kniyt but individually powerful group whose 50 regulad members have millions of dollars to lend or investf in startups and business Others in the group offercapitapl raising, marketing, accounting and legal “It’s a dynamic group, but has a low profiled because all the meetings have been held in Robbins said. “We are relocating the meetings to the inJupitert – more central for both South Florida and Treasur Coast participants.
” The new venue is located just off Interstatse 95 in the immediate proximit y of ’s Jupiter campus, plus the and biotechnology researcgh sites. The first meeting there is scheduled for 9at 5:30 p.m. AIFFL Executive Director Marcy Brennan said her groupcomprisesz entrepreneurs, investors and professional service “We expect to double the membership this year – especially the angell investors – with this more central and convenientt meeting location,” she said. “Even for thosew in Stuart, it’s not that far away.
” AIFFL used to have a centrak Florida chapter inthe Villages, a large country club communityu south of Ocala, but it closedx in January. “We expected the Villages’ residents to be a good sourcsof investment, and to draw entrepreneurds from Tallahassee, Gainesville, Tampa and Orlando, but it just didn’gt work out that way on a regular basis,” Brennan There will likely be substantial crossovefr between members of the AIFFLo and the (GCVCA), which meets regularly in Boca “I think it’s good for the communitty that AIFFL is widening its footprint,” said David Bates, GCVC A chairman and a shareholder in Gunster Yoakleyy & Stewart.
He sees the Jupiter move as a shrewdf marketing strategy togrow quickly, citing his group’ss membership, which grew to more than 300 over the last two yearss in southern Palm Beach County. “Thers are more than enough investment angels looking for good dealwsin today’s competitive environment for both organizations,” Bates GCVCA is typically pitched by young companies lookingv for mezzanine investing in the $1 million to $5 milliom range, while AIFFL gets pitched more by startuo companies looking for $50,000 to $1 million.
Brennam said: “We have seen some remarkable ground-floor opportunities in medical devices and great creativity across the board in the technology Web site: E-mail: marcy@aiffl.org

Thursday, September 6, 2012

Familiar name gets warm reception as W&R's new face - Dallas Business Journal:

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Now comes the tough part -- revivingh the company's sagging sales channel and batterefpublic image. New CEO Henry Herrmann said he will leveragerelationships he's builtg through the course of 34 yeards with Waddell & Reed shareholders, clients and investmenyt advisers to boost the mutual fund company'ws fortunes. "We need to do whatever we can to make sure that our clientss and our advisers are comfortable with our commitment to our business and to the best interest ofour clients," he said. "We will be workingf hard to makesure that's the case and that'xs understood.
" Herrmann, 62, can shoulder that load, formeer Waddell & Reed Chairman Ben Korschot said. Korschot, who retireed from the company in worked closely with Herrmann in the 1970sand '80as and groomed him to become the company's chief investment officer, a titlew Herrmann assumed in 1987. "He's very sound, very good, and he knowes this company backwardsand forwards," Korschot said.
"u think Waddell & Reed is going to be off and Locally, there's a positive vibe about Herrmanmn taking overas CEO, said Robert Smart, president of Fairwayh brokerage Herrmann has been with Waddell & Reed sincr 1971 and is well-known in the "The way I sense the thing is there's a great sigh of relief, and they got a guy in therw who has a great history with Waddell Reed, and he knows what he's doing," Smartr said. Herrmann received a vote of confidencre from Wall Streetas Inc. and Inc. upgraded rating s on Waddell & Reed's stock WDR) after his promotion. The company'sa stock price has increased from a closeof $17.
50 on May 25 -- just beforwe the announcement of Tucker's resignation -- to a closwe of $19.36 on June 1. But in recenty days, analysts warned that turning aroundWaddellp & Reed's sales won't be easy. For the quarter that ended March 31, sales of proprietary investment products by the company's sales channelk decreased $60 million, or 11 percent, from the same perioc a year ago, according to the company's quarterlyu report. Waddell & Reed's overall net income for the quarterf decreased 18 percent from theprevious year.
"It will take some time to get the proprietar y distribution system backon track," wrote Robert Lee, an analysrt for Keefe Bruyette Woods in New York. "Operational challenges coulrd persist for at least the nextseverao quarters." Herrmann said his first priority is improving the performancw of Waddell & Reed's nationa l sales network, which today includes 2,453 advisers. He said he thinksw Waddell & Reed's top producers are energized by the new managemenrt the company introduced earlierthis year. That includesz Chief Marketing OfficerTom Butch, National Salesx Manager Steve Anderson and Associate National Salezs Manager Brad Hofmeister.
He described Anderson and Hofmeisteeras "hands-on guys" who bring to their new jobs yearw of experience in the field as regionak vice presidents. Herrmann said he wants to build on that enthusias with greater emphasis on sales training and recruitingnew advisers. "We've probablyu spent too much time focusing on financial planningb and a little less emphasis helpingg advisers dial in and sharpen thei skills in the areaof sales," he said.
Analysts have argued that Waddell & Reed has spent too much time fighting legal battlews with former parent company and regulatoryg issues raised bythe , whicgh filed a 2004 complaint against the compan y concerning its handling of variable annuities. The compant resolved the bulk of thesew issueswith $32.5 million in settlements announced in late April. But Herrmanj said he knows Waddell & Reed has sufferesd damage to its public In thenext month, he plans to spendr considerable time with shareholders of Waddell & Reed and its mutua funds "so they can get to know me better.
" Lee, the Keefed Bruyette & Woods analyst, said he expects given Herrmann's age, successiomn planning soon will be a focu of Waddell & Reed's board of But the new CEO said he has no plans to slow "There's no mandatory retirement. I'mm physically fit, I love the business, and I love Waddell Reed," Herrmann said. "If I think it's appropriate and I'm still contributing, I may stay on longer than thenormalk 65.
"

Tuesday, September 4, 2012

Baltimore to sell land to developers for Hyatt-anchored project - Baltimore Business Journal:

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million deal Wednesday to sell a blocm of land in downtown Baltimore to a team of developeres planning to build a pair ofHyatt hotels. A development team led by Mark Benjamin Greenwald and Joseph Haskins plan to construcyta 450,000-square-foot complex anchored by a Hyatt Placde and Hyatt Summerfield Suites with a combined 300 hotelp rooms. Under the terms of the the developers purchased propertiesat 26-36 Calverty St., 110 E. Lombard St. and 117 Watetr St. The redevelopment does not includee the neighboring BrookshireSuites Hotel. The $80 million “Hyatrt at City Center” development also calls for a 300-spacr parking garage and commercial space.
estimates the development will created 450 construction jobs and 140 permanent jobs that shouldxpump $60 million in new taxes to city coffers. “Hyatt at City Cente is another exciting private investment in the city of creating jobs and generating taxes in a key underutilizeddowntown site,” BDC President M.J. “Jay” Brodie said in a statement. BDC begahn acquiring eight properties in the blockl in 2002 in hopes of sparkinhfuture redevelopment. The $4.5 million land sale price is equal to the appraised value of the BDC said.

Monday, September 3, 2012

Reno's Tucker takes listeners on 9-track ride - Reno Gazette Journal

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Reno's Tucker takes listeners on 9-track ride

Reno Gazette Journal


A songwriter adept at spinning melodic lines is already halfway to victory in landing the listener. Longtime Reno musician and recording-studio owner Tim Tucker completes the conquest of soft-rock lovers on ìTucker Tooî (available on www.cdbaby.com).



Saturday, September 1, 2012

F.N.B. appoints Campbell as chairman - Austin Business Journal:

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Campbell formerly served as F.N.B.’s (NYSE:FNB) lead directodr and serves on several committees. He has been a directoe since 1975. “Bill is one of our longest servingv and most dedicated Gurgovits said ina statement. F.N.B. previously said it woul d appoint a new chairman to enablr Gurgovits to focus on his corporate responsibilities and to conformto F.N.B.’s corporate guidelines. Gurgovits, who has worked at for 48 years, had taken the chairmah role in April 2008 when Robertr New was named CEO and presidentg after anearly two-year search. New resignedr 10 months later and Gurgovits steppedr back in on an interim basis He accepted the post fulltime onJune 2.
is based in Hermitage, north of and had assets of $8.5 billiom as of March 31.