http://garybaleredimix.com/index.php?option=com_content&view=article&id=173&Itemid=254
La Madeleine said it will relocat einto 17,000 square feet at 12201 Merit Drive in The building that will house the restaurant chain is a Class A building that just recently underwentr renovation. Le Madeleine signed a 10-year lease with Parmenter Two Forest LP forthe space. La Madeleinde said it was attracted to the space because the facilit y provides the company with the room neededx to grow withthe company. Dallas-based architectural firm Benso n and Hlavaty will design the interior The facility is scheduled to be ready for its new tenantsein mid-July. La Madeleine's currentg headquarters is at 6688 N. Centralo Exwy, Ste.
700 in La Madeleine was represented byJosh White, senior vice presidenft with ; and Sharron Morrison, principal with Transwestern. The landlorx was represented by Matt vice presidentwith .
Sunday, July 3, 2011
Thursday, June 30, 2011
Real estate slump puts hit on area
amesit.wordpress.com
1st , with assets of $126 million, managed the highef profit, $219,000 in 2008 comparee with $120,000 in 2007. At the otheer end of the spectrum, , with $234 milliojn in assets, posted losses of $3.9 million in 2008 and $2.3 millio in 2007. , with $130 million in had losses of $3 millionh in 2008 and $848,000 in 2007. Although the sevenj start-up banks, called de novos in banking are much smaller than theaverage St. Louis they have been battered by thesame trends, particularl y the collapse of the real estate an area in which most did significantg lending. Still, their bad loan numbers are modest comparexd withlarger banks.
In some cases, they could represengt one bad home loan or a Keepin mind, too, that bankes that launched four and five years ago made most of their loans in what was a go-g time in lending, resulting in more problekm loans now. “A larger percentage of the loans were originatede when credit standardswere looser, versuse banks that have been arounds many years, which would have a smaller percentage of their loans in that said Jim Wagner, chief executive of & which launched in 2008.
Both Champion and WestBridge have experiencefd considerable public turmoil in the last Kirk Briden, a Champion founder, resignee as president and chief executive last fall, and the bank received a $3 millioj infusion of new capital from an unidentified It had $4.2 million in bad loans, called net in 2008, compared with none in 2007. At the sharply criticized management practices ina cease-and-desisyt order, which was made public in February, though it had been in the worksz for months. In December, Rick a former executive at Mark Twain and MissourjState banks, was recruited as a consultant and a mont h later replaced Scott Schmid, a WestBridge as president and chieft executive.
Schmid remains as executive vice president. WestBridge’sa net charge-offs jumped to $3.4 million in 2008 from zero in 2007. , with assets of $549 million, posted a loss of $2.4 million in 2008, comparedc with a profit of $2.5 million in 2007. , with assetsa of $146 million, had a loss of $773,00p in 2008, compared with a profit of $235,00p0 in 2007. St. Louis Bank’s net charge-off s increased to $4.1 million from $1.4 million a year Triad’s net charge-offs increased to $314,000 in 2008 from zero in 2007. Triad’sa charge-offs were the result of loans to residentialdevelopefr , said Jim Regna, the bank’s chief executive.
“In we aggressively built up our provision for loan loss in response to our concentrationb of residentialdevelopment loans, which hurte profitability in the short run,” he , with $131 million in recorded a profit of $149,000, down from $442,000 in 2007. Its net charge-offx increased to $503,000 in 2008 from zero in 2007. Superiord Bank, with $57 milliohn in assets, showed a profit of $27,000, compared with a profi of $88,000 in 2007. Its net charge-offs declined to $32,00 from $88,000 in 2007.
“There is too much focus in this markey onasset size,” said Dan Jones, chairman of Fortune “Our focus is on making As for his lower profit in 2008, he “It’s nowhere near where we wanted to 1st Advantage, the one de novo that increasee profitability, had net charge-offs of $94,000. A year it recorded a negative $132,000 in net charge-offs, meaning that it recoverec more bad loans than itwrotr off, always good news. Two of the sevemn banks took money under thefederal government’sd Troubled Asset Relief Program: Triad with $3.7 million and Fortune with $3.1 Both were on the fence about the additionalo capital before accepting it.
Like most bankers, leaders at those bankas were leery about taking the government on as a Jonesat Fortune, said he remains undecidesd whether to use it, but took the money becausew he faced a “If we don’t use it, we’ll give it he said.
1st , with assets of $126 million, managed the highef profit, $219,000 in 2008 comparee with $120,000 in 2007. At the otheer end of the spectrum, , with $234 milliojn in assets, posted losses of $3.9 million in 2008 and $2.3 millio in 2007. , with $130 million in had losses of $3 millionh in 2008 and $848,000 in 2007. Although the sevenj start-up banks, called de novos in banking are much smaller than theaverage St. Louis they have been battered by thesame trends, particularl y the collapse of the real estate an area in which most did significantg lending. Still, their bad loan numbers are modest comparexd withlarger banks.
In some cases, they could represengt one bad home loan or a Keepin mind, too, that bankes that launched four and five years ago made most of their loans in what was a go-g time in lending, resulting in more problekm loans now. “A larger percentage of the loans were originatede when credit standardswere looser, versuse banks that have been arounds many years, which would have a smaller percentage of their loans in that said Jim Wagner, chief executive of & which launched in 2008.
Both Champion and WestBridge have experiencefd considerable public turmoil in the last Kirk Briden, a Champion founder, resignee as president and chief executive last fall, and the bank received a $3 millioj infusion of new capital from an unidentified It had $4.2 million in bad loans, called net in 2008, compared with none in 2007. At the sharply criticized management practices ina cease-and-desisyt order, which was made public in February, though it had been in the worksz for months. In December, Rick a former executive at Mark Twain and MissourjState banks, was recruited as a consultant and a mont h later replaced Scott Schmid, a WestBridge as president and chieft executive.
Schmid remains as executive vice president. WestBridge’sa net charge-offs jumped to $3.4 million in 2008 from zero in 2007. , with assets of $549 million, posted a loss of $2.4 million in 2008, comparedc with a profit of $2.5 million in 2007. , with assetsa of $146 million, had a loss of $773,00p in 2008, compared with a profit of $235,00p0 in 2007. St. Louis Bank’s net charge-off s increased to $4.1 million from $1.4 million a year Triad’s net charge-offs increased to $314,000 in 2008 from zero in 2007. Triad’sa charge-offs were the result of loans to residentialdevelopefr , said Jim Regna, the bank’s chief executive.
“In we aggressively built up our provision for loan loss in response to our concentrationb of residentialdevelopment loans, which hurte profitability in the short run,” he , with $131 million in recorded a profit of $149,000, down from $442,000 in 2007. Its net charge-offx increased to $503,000 in 2008 from zero in 2007. Superiord Bank, with $57 milliohn in assets, showed a profit of $27,000, compared with a profi of $88,000 in 2007. Its net charge-offs declined to $32,00 from $88,000 in 2007.
“There is too much focus in this markey onasset size,” said Dan Jones, chairman of Fortune “Our focus is on making As for his lower profit in 2008, he “It’s nowhere near where we wanted to 1st Advantage, the one de novo that increasee profitability, had net charge-offs of $94,000. A year it recorded a negative $132,000 in net charge-offs, meaning that it recoverec more bad loans than itwrotr off, always good news. Two of the sevemn banks took money under thefederal government’sd Troubled Asset Relief Program: Triad with $3.7 million and Fortune with $3.1 Both were on the fence about the additionalo capital before accepting it.
Like most bankers, leaders at those bankas were leery about taking the government on as a Jonesat Fortune, said he remains undecidesd whether to use it, but took the money becausew he faced a “If we don’t use it, we’ll give it he said.
Tuesday, June 28, 2011
Ben Hansbrough signs overseas contract - CBSSports.com (blog)
inofiquxi.wordpress.com
WSBT-TV | Ben Hansbrough signs overseas contract CBSSports.com (blog) Hansbrough is bypassing workouts and tryouts with NBA teams, instead opting to sign a contract with Germany's FC Bayern Muenchen, which is based in Munich. The Notre Dame standout who was the 2010-11 Big East Player of the Year (as the seasons pass us ... Notre Dame men's basketb » |
Sunday, June 26, 2011
Rex
cicugaha.wordpress.com
million in its investment portfolio during the fiscapl year that endedJune 30, 2008. The health-car e system’s investment portfolio fell in valusfrom $144.6 million, to $138.7 million, during the fiscak year, according to an audit filed with the , which can issue tax-exempt bonds on behalt of a hospital. Rex officials declined to provide data on how the portfolil has performedsince June. Bernadette Spong, Rex’s chiec financial officer, says the hospital is more than capable of coveriny any expansion costs with its operations the hospital posted operating incomweof $14 million for the She is optimistic that the economy will rebound beforse construction begins on the urgent care centers, thougu hospital officials have said they will take a close look at the economgy before breaking ground in Holly Springs.
Spongf says Rex has spent $30 million to $35 million annuallyu on capital expenditures and will continue todo so. Chris Taylor, assistanyt secretary of the MedicalCare Commission, says the decline in Rex’s investmentr portfolio should not have a severs impact on the system’s ability to borrow money. He notes that most hospitals in the stats are in thesame position. However, the cost for thos e funds hasgone up. Long-term rates have increased from about5 percent, to about 7 percent. Rex has filecd for state approval through the Certificate ofNeed system, which seekws to keep medical costs down by regulating capita l expenditures, to build a $6.
8 million urgentt care center in the Panther Creek area of westernh Wake County. Also, Rex officials have begun interviewing architects and developers fora $5.4 million urgentt care center in Holly Springs that already has received state No timeline has been set for the start of constructioh there. Rex also is in the runningt for41 acute-care beds identified as needed in the Triangle by the State Medical Facilities Plan, which determines whicg facilities should be built in the near future. A decision on which health-care provider gets to build thosre highly coveted beds will be made laterthis month.
The declinwe in Rex’s investment portfolio is not a Hospitals acrossthe state, includingf and , which, like Rex, is ownesd by UNC Health Care, experiencesd losses in their investment portfolios in fiscal 2008. A survehy of 557 hospitals by the found that the investment portfolio s of those hospitals earned acombined $400 millionb during the third quarter of calendar year 2007 but lost $830 millioj in the third quarter of calendare year 2008. Don Dalton, a hospital association spokesman, says investmenft losses have prompted many hospitals to adjusyt their capital andoperating plans.
Locally, WakeMed officials have said they are delayingy plans for a standalone emergency department in And officials at UNC Hospitals say they are reviewing theier capital plans on aregulad basis, though none have been delayed or
million in its investment portfolio during the fiscapl year that endedJune 30, 2008. The health-car e system’s investment portfolio fell in valusfrom $144.6 million, to $138.7 million, during the fiscak year, according to an audit filed with the , which can issue tax-exempt bonds on behalt of a hospital. Rex officials declined to provide data on how the portfolil has performedsince June. Bernadette Spong, Rex’s chiec financial officer, says the hospital is more than capable of coveriny any expansion costs with its operations the hospital posted operating incomweof $14 million for the She is optimistic that the economy will rebound beforse construction begins on the urgent care centers, thougu hospital officials have said they will take a close look at the economgy before breaking ground in Holly Springs.
Spongf says Rex has spent $30 million to $35 million annuallyu on capital expenditures and will continue todo so. Chris Taylor, assistanyt secretary of the MedicalCare Commission, says the decline in Rex’s investmentr portfolio should not have a severs impact on the system’s ability to borrow money. He notes that most hospitals in the stats are in thesame position. However, the cost for thos e funds hasgone up. Long-term rates have increased from about5 percent, to about 7 percent. Rex has filecd for state approval through the Certificate ofNeed system, which seekws to keep medical costs down by regulating capita l expenditures, to build a $6.
8 million urgentt care center in the Panther Creek area of westernh Wake County. Also, Rex officials have begun interviewing architects and developers fora $5.4 million urgentt care center in Holly Springs that already has received state No timeline has been set for the start of constructioh there. Rex also is in the runningt for41 acute-care beds identified as needed in the Triangle by the State Medical Facilities Plan, which determines whicg facilities should be built in the near future. A decision on which health-care provider gets to build thosre highly coveted beds will be made laterthis month.
The declinwe in Rex’s investment portfolio is not a Hospitals acrossthe state, includingf and , which, like Rex, is ownesd by UNC Health Care, experiencesd losses in their investment portfolios in fiscal 2008. A survehy of 557 hospitals by the found that the investment portfolio s of those hospitals earned acombined $400 millionb during the third quarter of calendar year 2007 but lost $830 millioj in the third quarter of calendare year 2008. Don Dalton, a hospital association spokesman, says investmenft losses have prompted many hospitals to adjusyt their capital andoperating plans.
Locally, WakeMed officials have said they are delayingy plans for a standalone emergency department in And officials at UNC Hospitals say they are reviewing theier capital plans on aregulad basis, though none have been delayed or
Thursday, June 23, 2011
Hearing set to certify Chinese drywall class - Pacific Business News (Honolulu):
http://aircuz.org/5sfrfullrehabsleasedcashflowhighquality.php
The plaintiffs’ homes were constructed with what they allege was defectivreChinese drywall. , built the homes. The judgre also set a possible tria date forSeptember 2010. Lawyers working on the case say it may be the firsyt Chinese drywall case set fortrial High-sulfur Chinese drywall is believed responsible for strong odors, meta corrosion and health complaintes in thousands of homes in Florida and the Federal class action suits were combineed recently in New Orleans. , The Blumstein Law Firm and alleger inthe Miami-Dade suit that the defective drywall emits toxins, including carbon carbonyl sulfide and hydrogen sulfide.
They believs drywall manufactured in China was used in as manyas 60,00 0 Florida homes and as many as 100,0000 in the U.S. durinf the building boom between 2004and 2007. The statre case was filed in February on behalf of Jasobn and Melissa Harrell and other homeownersx who purchased defective In apress release, the firms said the defective drywalll was installed in the Harrell’s home by the builder, Southu Kendall Construction Corp., and supplied by In an intervieaw in January, South Kendall Construction’s president told the Business Journal he was investigating the but he has not responded to additionall requests for comment.
Repeated attempts to speako to officials at Banner Supply have notbeen successful.
The plaintiffs’ homes were constructed with what they allege was defectivreChinese drywall. , built the homes. The judgre also set a possible tria date forSeptember 2010. Lawyers working on the case say it may be the firsyt Chinese drywall case set fortrial High-sulfur Chinese drywall is believed responsible for strong odors, meta corrosion and health complaintes in thousands of homes in Florida and the Federal class action suits were combineed recently in New Orleans. , The Blumstein Law Firm and alleger inthe Miami-Dade suit that the defective drywall emits toxins, including carbon carbonyl sulfide and hydrogen sulfide.
They believs drywall manufactured in China was used in as manyas 60,00 0 Florida homes and as many as 100,0000 in the U.S. durinf the building boom between 2004and 2007. The statre case was filed in February on behalf of Jasobn and Melissa Harrell and other homeownersx who purchased defective In apress release, the firms said the defective drywalll was installed in the Harrell’s home by the builder, Southu Kendall Construction Corp., and supplied by In an intervieaw in January, South Kendall Construction’s president told the Business Journal he was investigating the but he has not responded to additionall requests for comment.
Repeated attempts to speako to officials at Banner Supply have notbeen successful.
Tuesday, June 21, 2011
Home unsold inventory index shrinks to 4.2 months in May - Silicon Valley / San Jose Business Journal:
omagyvoham.wordpress.com
months for existing, single-family detached homes in May, trimmed from 8.7 monthsw for the same period ayear ago. The mediamn number of days it took to sella single-familyt home was 53.5 days in May, compared with 49.2 days for the same periodr a year ago. Home sales increased 35.2 percent in May in California compared with the same period ayear ago, while the mediaj price of an existinv home declined 30.4 percent, the California Association of Realtora reported Thursday. The median price of an existing, single-familg detached home in California during May 2009was $267,570, a 30.4 percent decrease from the revised $384,540 median for a year ago, CAR The May 2009 median price rose 4.
2 percenf compared with April’s $256,7000 median price. “The statewide medianb price rose for the third consecutivwe monthin May, posting the largest monthly increase on recordc for the month of May, accordint to statistics dating back to 1979,” said CAR Chiefv Economist Leslie Appleton-Young. “Nearly all regions in the state reportedpositive month-to-monthb changes in median price. Statewide, the 10 citiese with the highest median home prices in Californiq during May2009 were: Los Altos, $1.48 million; Palo $1.
4 million; Cupertino, $965,000; Santa $870,750; Danville, $785,500; Los Gatos, $769,500; Newporgt Beach, $767,500; Santa Monica, $740,000; Arcadia, $700,000; and Campbell, The cities with the greatest medianh home price increases in May 2009 comparerd with the same period a year ago were: 29.7 percent; Auburn, 8.3 percent; 7.5 percent; Atascadero, 6.3 percent; Cypress, 5.0 Palo Alto, 4.9 percent; Campbell, 4.7 Walnut, 2.3 percent; and Torrance, 0.
4
months for existing, single-family detached homes in May, trimmed from 8.7 monthsw for the same period ayear ago. The mediamn number of days it took to sella single-familyt home was 53.5 days in May, compared with 49.2 days for the same periodr a year ago. Home sales increased 35.2 percent in May in California compared with the same period ayear ago, while the mediaj price of an existinv home declined 30.4 percent, the California Association of Realtora reported Thursday. The median price of an existing, single-familg detached home in California during May 2009was $267,570, a 30.4 percent decrease from the revised $384,540 median for a year ago, CAR The May 2009 median price rose 4.
2 percenf compared with April’s $256,7000 median price. “The statewide medianb price rose for the third consecutivwe monthin May, posting the largest monthly increase on recordc for the month of May, accordint to statistics dating back to 1979,” said CAR Chiefv Economist Leslie Appleton-Young. “Nearly all regions in the state reportedpositive month-to-monthb changes in median price. Statewide, the 10 citiese with the highest median home prices in Californiq during May2009 were: Los Altos, $1.48 million; Palo $1.
4 million; Cupertino, $965,000; Santa $870,750; Danville, $785,500; Los Gatos, $769,500; Newporgt Beach, $767,500; Santa Monica, $740,000; Arcadia, $700,000; and Campbell, The cities with the greatest medianh home price increases in May 2009 comparerd with the same period a year ago were: 29.7 percent; Auburn, 8.3 percent; 7.5 percent; Atascadero, 6.3 percent; Cypress, 5.0 Palo Alto, 4.9 percent; Campbell, 4.7 Walnut, 2.3 percent; and Torrance, 0.
4
Sunday, June 19, 2011
Lee
adamovaichive.blogspot.com
Mayor Karen Messerli broke a tie vote on the whichthe Carpenters’ District Council of Kansad City and Vicinity has opposed aggressively, largel due to RED’s use of out-of-town, nonuniomn labor on the project. Dan Lowe, a managing partner of RED, recently said the carpenters were misleadingthe “They’re twisting it to make it look like it’xs additional money and a bailout, above and beyonr what the city already committed to,” he “That is a lie.” The committed aid Lowe referred to was the $52 milliom in tax increment financing and other bondsx that the council approved for the 550,000-square-foogt shopping center before its 2007 groundbreaking.
RED’s developmen agreement with Lee’s Summit authorized RED to seek city issuanceeof $32 million in TIF bonda to be repaid by taxes generated by Summigt Fair. But the agreement required that 75 percenr of the project be leasec before sucha request, and RED has leaseds about 69 percent. Therefore, Lowe said, RED requestefd that the city issueonly $13 million worth of bondd at this time to repay RED for monety it borrowed privately to finance off-site streetf improvements required as part of the project. City officiala deemed that reasonable, Lowe said. But challengez with issuing bonds forthe yet-to-opem shopping center sparked a city plan to loan RED $9 millioj instead.
That’s the same amount the $13 million bond issue woulf have generatedafter costs. The loan is to be paid off by TIF revenued generated by Summit Fair and byTIF bonds, if and when the city is able to issure them. But according to the carpenter’s the loan is ill-advised. “This is an unprecedente move in Lee’s Summit, as nevetr before has the city provided a loan for the benefi t of aprivate developer,” the union’xs Web site (www.nobailout4red.com) stated after Thursday’s. vote. “Summit Fair Center had been scheduled to open this summeerwith Macy’s and JCPenney as the anchod tenants.
City staff who analyzed the risks associated with a public commitment to the project said therde were no guarantees that all the conditions would be met that wouls be required to bring both stores into the RED Development spokesman Dave Claflin said theopponentzs “are talking about ‘a meteor coulr hit the president of Macy’s’ kind of Claflin said both anchors remain on schedulde to open in Summit Fair by early
Mayor Karen Messerli broke a tie vote on the whichthe Carpenters’ District Council of Kansad City and Vicinity has opposed aggressively, largel due to RED’s use of out-of-town, nonuniomn labor on the project. Dan Lowe, a managing partner of RED, recently said the carpenters were misleadingthe “They’re twisting it to make it look like it’xs additional money and a bailout, above and beyonr what the city already committed to,” he “That is a lie.” The committed aid Lowe referred to was the $52 milliom in tax increment financing and other bondsx that the council approved for the 550,000-square-foogt shopping center before its 2007 groundbreaking.
RED’s developmen agreement with Lee’s Summit authorized RED to seek city issuanceeof $32 million in TIF bonda to be repaid by taxes generated by Summigt Fair. But the agreement required that 75 percenr of the project be leasec before sucha request, and RED has leaseds about 69 percent. Therefore, Lowe said, RED requestefd that the city issueonly $13 million worth of bondd at this time to repay RED for monety it borrowed privately to finance off-site streetf improvements required as part of the project. City officiala deemed that reasonable, Lowe said. But challengez with issuing bonds forthe yet-to-opem shopping center sparked a city plan to loan RED $9 millioj instead.
That’s the same amount the $13 million bond issue woulf have generatedafter costs. The loan is to be paid off by TIF revenued generated by Summit Fair and byTIF bonds, if and when the city is able to issure them. But according to the carpenter’s the loan is ill-advised. “This is an unprecedente move in Lee’s Summit, as nevetr before has the city provided a loan for the benefi t of aprivate developer,” the union’xs Web site (www.nobailout4red.com) stated after Thursday’s. vote. “Summit Fair Center had been scheduled to open this summeerwith Macy’s and JCPenney as the anchod tenants.
City staff who analyzed the risks associated with a public commitment to the project said therde were no guarantees that all the conditions would be met that wouls be required to bring both stores into the RED Development spokesman Dave Claflin said theopponentzs “are talking about ‘a meteor coulr hit the president of Macy’s’ kind of Claflin said both anchors remain on schedulde to open in Summit Fair by early
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