Crescent Resources files Chapter 11 - Triangle Business Journal:

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Crescent and its subsidiaries were saddled with morethan $1 billio n in liabilities, according to bankruptcy The Charlotte-based development firm’s chief executive, Arthud Fields, has retired and will work with Crescengt in an advisory capacity, the company says. Andrew Crescent’s chief restructuring has beennamed CEO. “We have been in active discussions with our lenders and other stakeholderse as we work towards an agreement that will bring our capitakl structure in line with the current economic environment,” Hede says. Crescent has more than 5,000 creditors, according to its filing.
Its assets are estimaterd at morethan $1 Crescent says it intends to operate its continuing businesses without any significant interruption during the restructuringy process. The company says that’s possiblr because of a recentlyobtained debtor-in-possession financingg facility of $110 million from a group of its existint lenders. As part of the Chapterf 11 filing, Crescent says it seeks court approval “ti make certain payments and to maintaib key agreementswith employees, vendors and partners of continuinvg operations to ensure the compan can maintain its commitmenyt to delivering a high leveol of amenities and services.
” Crescent says the filing is necessar y to reorganize its finances, reduce its debt level and improve its capital “We intend to reach an agreemenr on our new capital structure and emerge from bankruptcy quickly,” Hede says. A hot line has been set up as part of the Crescenr restructuringat (877) 204-8611. The Chapter 11 petitionas were filed inthe U.S. Bankruptcy Court in the Westerj Districtof Texas, Austin division. The company has 120 days from the filinf date to submit areorganization plan. A hot line has been set up as part of the Crescenyt restructuringat (877) 204-8611. Attorney Eric Taubee of LLP in Austin, Texas, will representr Crescent in the proceedings.
The company jointly owned by and — is best known in the Charlotte areafor high-end real estate communitiesd such as The Peninsula and Ballantyne Countrg Club. In the Raleigh-Durham area, Crescent developed the 588-acres Hidden Lake gated community in Youngsville andthe 400-acre The Parks at Meadowview communitt in Pittsboro. Before the Chapter 11 filing, Crescent facex payments on its debtof $50 millionm by the end of this $75 million in 2010 and $100 million in 2011. Duke formed Crescent in 1969 to develo property it acquired through its core utilitty business thatit didn’t need for powe r generation.
In September Duke entered into a joint venturs with Morgan StanleyReal Estate. Morgan paid Duke $415 milliohn in cash and assumed $656 millio in debt for its stake in the thenworth $2.1 As part of the transaction Crescenrt borrowed $1.2 billion and distributed the proceedds to Duke to transfer the debt off Duke’s balancd sheet. Duke and Morgajn Stanley each have a 49 percent stakerin Crescent. The remaining 2 percent interestf inCrescent — which would have been worth $42 milliomn when the deal closed ­— was issued to formef CEO Fields. The disposition of that interest will be determined through thereorganization proceedings, accordingf to a spokesman for Crescent.
Duke no longert reports Crescent’s financial but its own and those fromMorgan Stanley, shed light on Crescent’s financiak troubles.

Bills, Fitzpatrick reach agreement on $59 million deal - Buffalo News

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Buffalo News

Bills, Fitzpatrick reach agreement on $59 million deal Buffalo News Sometimes it's hard to remember that back in April as the Buffalo Bills prepared for the NFL draft, the franchise seriously considered selecting a quart erback who would someday replace Ryan Fitzpatrick. Quite a bit has happened in ... and more »

Real Development set to buy SC Telcom Building - Wichita Business Journal:

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The building, located at 125 N. is owned by Union Land and Management Co. in Union President Dan Bakeer says he has reached a tentative agreementf withReal Development. He hopes to have the sale complets by no laterthan mid-February. Unionh has owned the building, formerluy the headquarters for telecommunications firm SC since 1997. "We had been talking off and on for a Baker says. "At the end of the day, we made the decisio n that we really wantedto That, Baker says, is because Union had alread y sold its two other Wichita propertiees -- the Market Centre building at 155 N. Market and the -- and wanter to concentrate on itsother markets.
Bakert says he thinks the SC Telcombuilding doesn't need much more than additionall tenants. "Maybe with their energy and freshideas they'lkl be able to bring new tenants to the building," he Baker declined to release the intended sale cost, but the buildinfg is appraised by the Sedgwick County Appraiser's Office for $2.3

RECOFTC เลือก 6 ตำบลใน จ.ตราด พัฒนาเป็นศูนย์เรียนรู้ที่มีชีวิตและถอดเป็น ... - สำนักข่าวกรมประชาสัมพันธ์

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สำนักข่าวกรมประชาสัมพันธ์

RECOFTC เลือก 6 ตำบลใน จ.ตราà¸" พัà¸'นาเป็นศูนย์เรียนรู้ที่มีชีวิตและถอà¸"เป็น ... สำนักข่าวกรมประชาสัมพันธ์ ... เปิà¸"เวทีประชุมพร้อมเปิà¸"โครงการเสริมสร้างความเข้มแข็งของเครือข่ายการจัà¸"การทรัพยากรชายฝั่ง โà¸"ยชุมชนผ่านศูนย์เรียนรู้ชุมชน ในพื้นที่ 6 ตำบล จังหวัà¸"ตราà¸" ซึ่งแผนงานประเทศไทย ศูนย์ฝึกอบรมวนศาสตร์ชุมชนแห่งภูมิภาคเอเชียแปซิฟิก (RECOFTC : Regional Community ...

Wal-Mart to hire 22,000 - Kansas City Business Journal:

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Wal-Mart's announcement came on a day the government releasexd mildly encouraging weekly unemployment But it also hit as the retaiol industry reported some overallpdismal results, with same store sales figures fallingv an average of 4.8 percent for May. The discount retail gian t it willhire 22,000 peoplee to staff new or expandedc stores this year. "During this difficult economic we're proud to be able to create quality jobs for thousands of Americansthis year," Eduardo vice chairman of , said in a statement. But even Wal-Mart isn’r hiring at the same pace it has in the The Bentonville, Ark.-based retailer added 33,000 jobs in the U.S.
last Still, Wal-Mart’s low prices on everything from food to electronicse have allowed it to gain markeft share and have kept it positioned asthe nation’a number one retailer. Unlike its peers, Wal-Mart did not release monthly sales figures, instead focusing its attentionm on itshiring announcement. Wal-Mart’as announcement, on the eve of its annuakl shareholder’s meeting, came as the U.S. Labor Departmeng released jobless figures showing the recession may be losing at least some ofits momentum. Initial for statde unemploymentfell 4,000 to 621,000 in the week that ended May 30. That’se the third straight week fewer workers filednew claims.
And the tally of claims drawn by workers for more than one week in the week endec May 23fell 15,000 to 6,735,000 -- the first decline in that figure since Jan. 3. But that news isn’t exactlu good. It’s just less bad than other and experts expectto come. Chief financial officer polled recently by Duke University and CFO magazine expecyt the recession to last througnh the endof 2009. CFOs in the U.S. and Europes expect unemployment to keep rising in the next 12 perhaps to as high as 12percentt domestically. Meanwhile, the nonfarm payrolls from the government Fridayh is expected toshow 550,000 jobs lost in May, and unemploymengt climbing above 9 percent.
While Wal-Mar t announced its hiring plans, otheer retailers reported forMay same-store Sales fell 4.8 percent at the 30 retailers trackesd by Thomson Reuters. Sales fell 6.1 percent at , sales fell more than 9 and sales dipped 7 Such pessimism adds weightto Wal-Mart’z decision to keep on hiring, despite the fact that like and Macy’xs have slashed payrolls in recent months. Wal-Mart this year will from cashier and sales associatesto pharmacists, human resource managers and custome service associates.
The company will add 1,0090 or more workers in Arizona, California, Florida, New Jersey, South Carolina, Utah and But the generally grim climate raises the Is anybody out there otherthan Wal-Mart on the hunt for new employees The answer in one major Southeast market is encouraging. The reports that there are jobs to be had even in Bankof America’d hard-hit hometown, where local unemployment is over 11 percent. You just have to know wherer to look. “The defining featur for who is hiring is not the size of the butquite frankly, what is that firm doing?” N.C. State economis Mike Walden told thebusinesx journal.
Notably, among the firms the Charlotte Business Journa cited as in thehiring game: discounft retailers, just like Wal-Mart.

Instant view: Jobless claims fall in latest week - Reuters

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AFP	Instant view: Jobless claims f »

Wedge Energy International Inc.: Convertible Notes Exercised - MarketWatch (press release)

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Wedge Energy International Inc.: Convertible Notes Exercised MarketWatch (press release) OTTAWA, ONTARIO, Oct 17, 2011 (MARKETWIRE via COMTEX) -- Wedge Energy International Inc. ("Wedge" or the "Company") (cnsx:WEG) announced that four of the holders of the convertible notes originally issued on January 26, 2010 exercised their conversion ... and more »

Texas solar bill's death could benefit Tennessee - Memphis Business Journal:

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Over the weekend, Texas legislators let the clock run out on a bill that woul have createda $500 millioh rebate program to build solar installations in the Lone Star State. On Tennessee’xs Capitol Hill Monday, Sen. Jim Kyle was quiclk to capitalize. “To any company that had an eyeon Texas, we say come on up to said Kyle, D-Memphis, who is sponsoring Gov. Phil Bredesen’s energty bill. Bredesen has proposed usinfg $600 million in stimulus bill funds and new companies investing here that will producedsolar components, including in Bradley County and in Those companies were attracted by a package of stater incentives and infrastructure-ready industrial megasites.
“West Tennessee is well positionex to attract companies that will bring in 21st century The new energy industry can play a big part in gettint our local economies back ontheie feet,” said Sen. Roy D-Dresden, who worked with Finneuy to get an industria l megasite inWest Tennessee. Bredesen hopes to positionn the state as a leader in developing alternative energy sources as part of his legacy asa two-tern governor.

Gold Country plans retail store at TCF Bank Stadium - The Business Journal of Milwaukee:

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Goldy’s Locker Room will be located at the main entrance to TCF Bank Stadiujm at the corner of University Avenued andOak Street. The store is schedulde to openin mid-August, about a monthg before the first game at the new football “Goldy’s Locker Room at TCF Bank Stadium will be one of the nation’sw largest, most state-of-the-art college sports retail venues and the go-to destinatiohn for Gopher sports fans from far and wide,” Gold Country CEO Ron Leafblads said in a statement. “We are excited to be part of this historidc moment for the University of Minnesota and continue our longstanding partnershio withthe university’s athletics department.
” The store also will be open on Gold Country operates 12 retail stores and including locations on the Universitty of Minnesota campus and at malls in the Twin Rochester and St. Cloud.

EPA chief tours Denver mixed-use development - Philadelphia Business Journal:

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Jackson, EPA’s administrator, and Denver Mayot John Hickenloopertoured Highlands’ Gardens a 27-acre mixed-use project on the original site of Elitch Gardens amusement park. In 2005, Garden Village was awarded the EPA Nationalo Award for Smart Growtyh Achievement in the category of Overall In 2007, the development received the ’zs Award of Excellence for creativw land-use development and design. In a EPA said it is working with the federal departments of Transportatio and Housing and Urban Developmeny to encourage communitieslike Highlands’ Garden Village that offer affordabls housing and sustainable features close to markets, jobs and recreation.
“Highlands’ Garden Villag e is a great exampleof how, when we work we can bring about socially and environmentally responsibld development,” Hickenlooper said in a statement. “Thixs community is a model for the country that showws we can create an alternative to urban sprawl and reduce greenhousee gas emissions without sacrificing our qualityof life.”

PBA backs expanded River District renewal area - The Business Journal of Milwaukee:

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Sandra McDonough, the alliance’s president and CEO, told the Portland City Counci l on June 17 that the city needw to do everything it can to providmore jobs. The council is reconsiderinf expanding the River District by nearly42 acres, as well as increaser the amount of bonds the city can assume to fund projects withih the district. The council and the Portlande Development Commission had first sought the expansion nearly two years ago but were thwarted by a group complaint.
The Friends of Urban Renewal group had chargedc that the River District expansion which would have alsoredirected $20 million in district-generatedd funds to a new East Portland elementar school, didn’t fit technical urban renewal The council will vote on the measure next McDonough said urban renewal provides funding for investmentsd in infrastructure, housing, social services and public-private “We need to creatse jobs,” she said. “Wer have an opportunity to do just that by adopting theserevised findings, which address the issues that have been raisedr about the River District expansion.
We can then move forward with the importantf projects that depend ontheses funds.” City Commissioner Nick Fish has said that the constructiom of a new homelesss services center could depend on urban renewal funds if constructionh is to begin this year. McDonougnh said the alliance backs usinfg urban renewal funds to buildthe center.

National Oilwell Varco and Ameron close merger - Reinforced Plastics

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National Oilwell Varco and Ameron close merger Reinforced Plastics Kemal Tunç, General Manager of Turkish pipe manufacturer Subor, explains how the company has become a preferred supplier of glass reinforced plastic (GRP) pipes for irrigation projects in the country. Ameron International Corporation reports net income ... and more »

Biotech research center near Rochester lands its first tenant - Minneapolis / St. Paul Business Journal:

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isn't disclosing many details about thefuturde occupant. However, Alex Marks, senior vice president for Calif.-based Tower, said the tenant fits the profile offirme he'd hoped to line up for the biotech-focused which will feature space for research and development, as well as The biotech center is part of a mixed-use project dubbed Elk Run, which Towefr is planning to build in several Tower is expecting to break groundr on the 40,000-square-foot research facility in the fourth quarter.
The building will be the first piece ofthe 200-acrd (BCE) that's part of the overall Tower doesn't have a timelinew to begin construction on other portionw of the project, which it expectw to include housing, commercial and office Marks declined to release the total price tag for the researc center. Tower has built upward of 100 projects in17 states. The company hasn'yt constructed other biotech centered developments, but has named an advisoryy board to guideits efforts. Membersw include Dale Wahlstrom, CEO of St.
Louies Park-based the of Minnesota, and Dave Melin, vice corporate and government affairzsfor Bloomington-based , among "These are representatives who will ensure that we'rew going in the rightg direction," Marks said. Tower received key approvals from city officials to move forwars with the Elk Run project earlierdthis month. The company has hired Perkins + Will, to design the biotech researchg center, and brought on PCL ConstructionServicex Inc., Burnsville, to servwe as its general contractor. Boulder, Colo.-basexd DTJ Design Inc. will serv as land planner.

California Treasurer

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Analyst Martin Weiss of said in a June 22 report that California’s financial woes create “aq very high probability” that Californiw will eventually miss debt service payments. “Mr. Weiss’ analysis and to put it kindly, is misinformed,” respondeed Tom Dresslar, a spokesman for state TreasurerfBill Lockyer. “Even the credit rating agencies in announcing possible that the likelihood of defaultfis low. “We can’t stress it stronglty enough.
We have never defaulted on a debt service and we willnot default,” Dresslar said, pointinv out that in the fiscal year there’s $50 billion available to coved about $5 billion in debt service. He also notedx that debt service isa “continuing appropriation,” meaninf that debt service payments are made even if a stats budget hasn’t been adopted. In remarks at an economif conference at earlierthis year, Lockyer said that after education, timelyy payments to bond holders is the state’s highest priority.
The stronf remarks from the treasurer and his officr underscore the steep price Californiqa would likely have to pay in the capital markets for years if it wereto “It’s a situation to be avoided at all Dresslar said. But Weiss said in titled “California collapsing,” that the Golden Statse has lostits shine. “Evenb if you can’t get what you might consider agood price, sell all California papeer now,” Weiss said.
He’s also urging investors to consideer unloading alltheir tax-exempt That’s a reflection of how traumatic a California defaultf would be on the nation’s municipal bond market and the retail investors who have been told for yearas how reliable issuers have been in payingv principal and interest, even duringy the darkest days of the Great Depression. (Warren whose (NYSE: BRK.A) (NYSE: BRK.B) insures muni bonds, says such talk ignores the massive pension obligations that muni bond issuers face Weiss criticizes those who have paid littlre attention paid so farto California’zs financial woes.
“Washington and Wall Street seem to be treatingb California as if it were a sideshow in the financial circua of theseturbulent times. It’s not,” Weiss “There is a very high probability that Californiwwill default.” He urges investors not to under-estimate the impact of “California’s depression” on the rest of the reminding his readers that the state’s $1.8 trillioj economy is larger than that of Brazil, Canada or India. Weissx also criticizes the major debt-rating agencies for “artificially inflating the rating, stallintg downgrades and grossly understating the riskto investors.
” Californisa holds the lowest rating of all Moody’s this month said that it could further downgrade California’e bond ratings. Standard Poor’s said that a downgrade is noting “insufficient or untimely adoption of budget reforms serve to increase the risk ofmisseed [debt] payments.” Earlier, warnec that it might also cut its California bond Moody’s’ decision could lower the “A2” ratinfg it has on California’s general obligation bonds as well as the “Aa3” rating assigned to the state’ federally taxable general-obligation bonds and stem-cell-research bonds.
The move coulds also affect the ratings on other California Worse yet, Moody’s said the state may face a “multi-notcg downgrade” on $60 billion of general-obligation bonds. “Once California’s rating is likely to fall belosw the minimal level legally requirede for most moneymarket funds, forcing them to dump Californis paper posthaste,” Weiss said.

SoftBrands sold for $80M; Golden Gate Capital is buyer - Austin Business Journal:

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The buyer, a holding company createf by private-equity firm and its portfoliokcompany , will pay 92 cent s per share for SoftBrands. Sharesx of SoftBrands closed at 47 cents per share on Thursday. On the same date in SoftBrands’ stock closed at 1.09 per share. San Calif.-based Golden Gate Capital has abouf $9 billion in assets undert management. Infor, based in Alpharetta, Ga., is a softwares company with about 9,000 employeeas and $2.2 billion in revenue. Minneapolis-base d SoftBrands (AMEX: SBN) sells software to the hospitality industry, as well as to smalp and mid-sized manufacturers under the brand. Its productsa handle tasks such as makinhg reservations to settingroom rates.
SoftBrands CEO Randy Toftelanfd said in a press statement that the deal will allows shareholdersto “realize significant valur from their investment.” He also said the compangy would benefit from an “alliance” with Infor. A spokeswoman for Infor said SoftBrands will continuew to have a presencein Minneapolis, though it has yet to be determinedd how many employees will remainm here. SoftBrands’ board has alreaduy approved the sale, which is expected to close in betweenm 60 and90 days.