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Although deposits rose dramatically and mortgage refinancingv activity reached record levels inthe quarter, problem loansx caused increases in loss provisions, dragging down net “Just like all the other banks, we’ve had to increase our loan-loss provisions in the past year,” said Marc chairman and CEO of . “But in the last quarter, we’vr started to feel like we’ve finallhy got our hands around it. We’ve got our asset-quality issuews sized and know exactly whatthey are. We no longert see the significant movement or risk of further sizablre deterioration thatcreated life-threatening concernsw for many banks.
To us, that seems a sign of thingsz bottoming out.” Maun said the mortgage businesswas “off the charts” in the firsty quarter, mainly from refinancing as interesrt rates hit record lows. It continueed into the second quarter, he said, but ratese are starting to creep up, so it’sw hard to know how long it will continue. In Maun said, bank deposits are up substantially becaus e investors are fleeing the equity markets and looking forsafert pastures.
He said the insurance increasefrom $100,009 to $250,000 also has helped in that “I’m not sure these are long-ter m deposits because I think people want to wait and see how the marketes turn out and in the meantime need a safe placew to put their money,” Maun said. COO Kevin Barth said that althoughu depositsare up, putting the money to work is more Loan demand is down because fewer companies are expandingf or looking to buy new equipment. “Also, as unemploymenf rises, credit card losses have Barth said. “So from firsr quarter last year to firsy quarterthis year, credit card charge-offss went up about $4 million for us.
Generak consumer loan charge-offs rose another $6 million. There’s just not much you can do aboutt that.” Barth said there also have been charge-offsa in the residential construction and developmen t area as new home sales droppedoff dramatically. He said the sale of lots in some developmentse has come to acomplete “I think it’s possible that we’lll see banks continue to add to their loss provisions as some of the problemse we’ve seen in the residential developmenyt loans creep into the retail development constructioj loans and possibly into other commercial real estate Barth said. Mark Jorgenson, Kansas City regional CEO for U.S.
Bank, said that as leaseds start coming due for manyretai properties, he expects to see some tenants not creating further stress for property owners. He said he hopee consumers will start spending more in the next few months to turn the Just as their clients were gettinv lean in thefirsty quarter, Jorgenson said banks did, too, takin a hard look at overhead costs and makingv cuts. “As things turn around, that will have a beneficia l effect on the bottom but Ithink we’re a ways away from seeing he said.
Saturday, March 31, 2012
Thursday, March 29, 2012
Duke seeks 12.6% N.C. rate increase - Charlotte Business Journal:
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percent in North Carolina, a move that wouldf add about $11 per month to averagse residential customer’s bill. Duke filed the proposed increased Tuesday withthe N.C. Utilities Commission. The new if approved, would take effect Jan. 1. The rate increaseas would net Dukeabout $496 million in additionall revenue from ratepayers. Reactionj to the proposed increase cameswiftlh Tuesday. Jim Warren, executiver director of the N.C. Waste Awareness and Reduction Network, calledc it “a slap in the face of its customers many of whom are already strugglin g during this deepprolonged recession.
” Warren said his organization, a frequenf critic of Duke, would oppose the increase at hearings before the utilities commission. Brett president of Duke Energy Carolinas, says the utilitty knows it’s a difficult time to be raisin rates. But he says Duke has worked hard to keep theincreasw down. He says the calculations of Duke’a experts justified a larger increase. But Duke proposes takingf a lower return on equity than its estimatescallesd for. And it also included no adjustment for inflatiojn in the figures it has submitted to the That cutabout $150 million from Duke’se overall increase, Carter says.
Without those steps, the rate increases would have averaged 17 percentfor more. But Duke could not avoid an increase he says. According to its rate filing with the Duke made an overalp rate of return ofjust 5.88 percent in 2008. Under the rates N.C. regulators approvex in 2007, Duke was allowed to make a rate of returnb ofabout 8.5 percent. Carter says curren t rates will not allow Duke to covet itsoperating costs, expand its operations to provide reliable and environmentally sound service, and give its shareholderd a decent rate of The largest part of the increase comes from costsa to install pollution-control equipment on Duke’s largest coal build and acquire additional plants and upgradw its transmission and distribution Duke has spent $4.
8 billion on those projectsd in the last three years. About $700 millionb of that represents N.C. customers’ share of the costx so far forthe 825-megawatt expansiohn of the Cliffside coal plant in Cleveland and Rutherforrd counties, Carter says. Additional coste include scrubbers installed to remove pollutants from emissions at the large Allej and Marshall coal plants Duke Duke has warned that plant constructiobn and environmental controls will push up Carter emphasizes that even withthis increase, Duke will remainh the lowest-cost electric utility in the region and one of the lowest-costr in the nation, he says.
Warren says future increasesa could be higher than Duke is particularly as the company turns its attentioj to nuclear energy with its proposeed Lee Nuclear Stationnear Gaffney, S.C. “Our analysias shows that under Duke’s expansion rates will rise dramatically,” he says. “And if nuclear and coal costxscontinue increasing, power bills could easily He says N.C. WARN will continue to press its argumentr to the commissionthat Duke’w planned expansions are unnecessary. Duke’as proposed increases vary amongcustomer classes. Residential rateds would increaseabout 13.5 percent.
For the average residential bill, that would amount to $11 more per General-service rates for commercial and small-manufacturinbg customers wouldincrease 9.8 Industrial customers would see the largesy increase. Their rates would go up 15.25 That would wipe out most of the gains industrial customerd received twoyears ago. Their rates were cut 15.64 percent overall in 2007, the largestf cut in that roundof rate-setting. But with the increasez on the other classesof customers, he the rates for industrial customers remain in Carter says. Duke intends to seek rate increases in Soutn Carolinaas well. The utility is likelyg to submit that request in the next monthhor so.
Duke has consistently warned that rates will increase as new plants are builtf inthe Carolinas. The company last proposed a rate hike in when it soughta 3.6 percenr average increase. But it ended up agreeinfg to cut average ratesabout 7.5 percent That turned what would have been a $140 millioh increase in revenue to a reductionh of more than $280 million. Customers are unlikelyt to have the same luck this In thatrate case, Duke was able to cut the proposefd increase in large part because of changeas in how Duke was allowed to recover the costas of scrubbers installed on coal plants to reduce The last time Duke got a general rate increase in Nortyh Carolina — not connectedc to fuel prices, which can be adjustedr annually — was in 1991.
percent in North Carolina, a move that wouldf add about $11 per month to averagse residential customer’s bill. Duke filed the proposed increased Tuesday withthe N.C. Utilities Commission. The new if approved, would take effect Jan. 1. The rate increaseas would net Dukeabout $496 million in additionall revenue from ratepayers. Reactionj to the proposed increase cameswiftlh Tuesday. Jim Warren, executiver director of the N.C. Waste Awareness and Reduction Network, calledc it “a slap in the face of its customers many of whom are already strugglin g during this deepprolonged recession.
” Warren said his organization, a frequenf critic of Duke, would oppose the increase at hearings before the utilities commission. Brett president of Duke Energy Carolinas, says the utilitty knows it’s a difficult time to be raisin rates. But he says Duke has worked hard to keep theincreasw down. He says the calculations of Duke’a experts justified a larger increase. But Duke proposes takingf a lower return on equity than its estimatescallesd for. And it also included no adjustment for inflatiojn in the figures it has submitted to the That cutabout $150 million from Duke’se overall increase, Carter says.
Without those steps, the rate increases would have averaged 17 percentfor more. But Duke could not avoid an increase he says. According to its rate filing with the Duke made an overalp rate of return ofjust 5.88 percent in 2008. Under the rates N.C. regulators approvex in 2007, Duke was allowed to make a rate of returnb ofabout 8.5 percent. Carter says curren t rates will not allow Duke to covet itsoperating costs, expand its operations to provide reliable and environmentally sound service, and give its shareholderd a decent rate of The largest part of the increase comes from costsa to install pollution-control equipment on Duke’s largest coal build and acquire additional plants and upgradw its transmission and distribution Duke has spent $4.
8 billion on those projectsd in the last three years. About $700 millionb of that represents N.C. customers’ share of the costx so far forthe 825-megawatt expansiohn of the Cliffside coal plant in Cleveland and Rutherforrd counties, Carter says. Additional coste include scrubbers installed to remove pollutants from emissions at the large Allej and Marshall coal plants Duke Duke has warned that plant constructiobn and environmental controls will push up Carter emphasizes that even withthis increase, Duke will remainh the lowest-cost electric utility in the region and one of the lowest-costr in the nation, he says.
Warren says future increasesa could be higher than Duke is particularly as the company turns its attentioj to nuclear energy with its proposeed Lee Nuclear Stationnear Gaffney, S.C. “Our analysias shows that under Duke’s expansion rates will rise dramatically,” he says. “And if nuclear and coal costxscontinue increasing, power bills could easily He says N.C. WARN will continue to press its argumentr to the commissionthat Duke’w planned expansions are unnecessary. Duke’as proposed increases vary amongcustomer classes. Residential rateds would increaseabout 13.5 percent.
For the average residential bill, that would amount to $11 more per General-service rates for commercial and small-manufacturinbg customers wouldincrease 9.8 Industrial customers would see the largesy increase. Their rates would go up 15.25 That would wipe out most of the gains industrial customerd received twoyears ago. Their rates were cut 15.64 percent overall in 2007, the largestf cut in that roundof rate-setting. But with the increasez on the other classesof customers, he the rates for industrial customers remain in Carter says. Duke intends to seek rate increases in Soutn Carolinaas well. The utility is likelyg to submit that request in the next monthhor so.
Duke has consistently warned that rates will increase as new plants are builtf inthe Carolinas. The company last proposed a rate hike in when it soughta 3.6 percenr average increase. But it ended up agreeinfg to cut average ratesabout 7.5 percent That turned what would have been a $140 millioh increase in revenue to a reductionh of more than $280 million. Customers are unlikelyt to have the same luck this In thatrate case, Duke was able to cut the proposefd increase in large part because of changeas in how Duke was allowed to recover the costas of scrubbers installed on coal plants to reduce The last time Duke got a general rate increase in Nortyh Carolina — not connectedc to fuel prices, which can be adjustedr annually — was in 1991.
Tuesday, March 27, 2012
PentaSafe locks up more space in Park Towers in wake of merger - Houston Business Journal:
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The additional space will accommodate the expanding which was acquired last year byNetIQw Corp. in a deal valued at roughlg $255 million. San Jose, Calif.-based which had been operating locally from a facilityt at 13939Northwest Freeway, will move into PentaSafe's Galleria-areaq home. NetIQ plans to sell the Northwest Freeway propertyh once it completes its relocation to the WestLoop building. The combinedc firm will have 115,000 squard feet of office space in the buildinh at 1233 WestLoop South. PentaSafe was the firsf major tenant to move into the revamped structure when it signeeda five-year lease in 2000.
The deal brings the north tower in the twin officer complex to an occupancy of95 percent, says Fontainw Carroll, marketing director for building owner TPMC Realty The Dallas-based real estate firm purchased the buildings in the The twin towers were developed by Tenneco in 1974. TPMC spent millions renovatingthe long-vacant properties, which came onlin just as the Uptown office market begajn to soften. Carroll says 2002 was however, with interest coming from mostlysmall tenants. Tenantas that signed leases last year include theBrazilianm Consulate, currency trader Base International, law firm Madrid and Martinez, Prudential Insurance Co. of Americwa and Lawyers Title Co.
"It was a great she says. "It feels like 1999." Carol says the firm is in the midstg of space planningfor 110,000 square feet in the south which is 37 percent leased. Atlanta-based Trammelll Crow Residential is planning itsfifth Alexan-brandef apartment complex in Alexan is TCR's upscal apartment product that targets yount professionals with a high economic The newest development will be a 318-unigt complex in Cinco Ranch. The property is located in the 2500 blockj of SouthMason Road, in front of the Great Southwest Equestrian Center at the entrance to the enormoux Cinco Ranch master-planned community in west Houston.
The companty has at least four other Alexan projects planned or under constructionin Houston, including Alexan Alexan Heights, Alexan Memorial and Alexan Pineg Point, which is a redevelopment of the forme Rosewood Medical Center. Kerry French of NorthMar q Capital in Houstonarrangedc $5.36 million in financing for the Cincoi Ranch apartment project. • The Clearr Creek Independent School District has plunkesddown $3.48 million to purchase 40 acres of land adjacen to Baybrook Mall. The property is at the would-be intersection of El Doradko and Beamer.
The school districrt is working with the city of Houstonh and Harris County to extend the which currently donot
The additional space will accommodate the expanding which was acquired last year byNetIQw Corp. in a deal valued at roughlg $255 million. San Jose, Calif.-based which had been operating locally from a facilityt at 13939Northwest Freeway, will move into PentaSafe's Galleria-areaq home. NetIQ plans to sell the Northwest Freeway propertyh once it completes its relocation to the WestLoop building. The combinedc firm will have 115,000 squard feet of office space in the buildinh at 1233 WestLoop South. PentaSafe was the firsf major tenant to move into the revamped structure when it signeeda five-year lease in 2000.
The deal brings the north tower in the twin officer complex to an occupancy of95 percent, says Fontainw Carroll, marketing director for building owner TPMC Realty The Dallas-based real estate firm purchased the buildings in the The twin towers were developed by Tenneco in 1974. TPMC spent millions renovatingthe long-vacant properties, which came onlin just as the Uptown office market begajn to soften. Carroll says 2002 was however, with interest coming from mostlysmall tenants. Tenantas that signed leases last year include theBrazilianm Consulate, currency trader Base International, law firm Madrid and Martinez, Prudential Insurance Co. of Americwa and Lawyers Title Co.
"It was a great she says. "It feels like 1999." Carol says the firm is in the midstg of space planningfor 110,000 square feet in the south which is 37 percent leased. Atlanta-based Trammelll Crow Residential is planning itsfifth Alexan-brandef apartment complex in Alexan is TCR's upscal apartment product that targets yount professionals with a high economic The newest development will be a 318-unigt complex in Cinco Ranch. The property is located in the 2500 blockj of SouthMason Road, in front of the Great Southwest Equestrian Center at the entrance to the enormoux Cinco Ranch master-planned community in west Houston.
The companty has at least four other Alexan projects planned or under constructionin Houston, including Alexan Alexan Heights, Alexan Memorial and Alexan Pineg Point, which is a redevelopment of the forme Rosewood Medical Center. Kerry French of NorthMar q Capital in Houstonarrangedc $5.36 million in financing for the Cincoi Ranch apartment project. • The Clearr Creek Independent School District has plunkesddown $3.48 million to purchase 40 acres of land adjacen to Baybrook Mall. The property is at the would-be intersection of El Doradko and Beamer.
The school districrt is working with the city of Houstonh and Harris County to extend the which currently donot
Sunday, March 25, 2012
Survey: CEOs still foresee negative conditions - Charlotte Business Journal:
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“This quarter’s results reflect a continuing weak set ofeconomid conditions,” said Ivan Seidenberg, chairmanm of Business Roundtable and chairman and CEO of “Conditions — while still negative — appear to have begu to stabilize.” The Washington-based associatiob of CEOs represents a combined work forcde of nearly 10 million employees and more than $5 trilliob in annual sales. When asked how they anticipate theirf sales to fluctuate in the nextsix months, 34 percengt said sales will and 46 percent predicted a decrease. That is a sunniefr forecast thanthe first-quarter outlook survey, when 24 percent predicted higher Fifty-one percent said their U.S.
capital spending will fall in theseconf quarter, and 12 percenf said it will rise. Forty-nine percent expect their U.S. employment to decrease in the next six up fromthe first-quarter outlook survey, when 71 percent predicted a drop in Six percent anticipate their employee base to increase. Membedr CEOs estimated that the nation’s real grosws domestic product will dropby 2.1 percent in compared with the CEOs’ first-quarter estimate of a 1.9 percenr decline. The outlook index — whicu combines member CEO projections for capital spending and employment in the six monthsaheae — expanded to 18.5 in the second quarter, up from -5 in the firstf quarter.
An index reading of 50 or lowert is consistent with overalleconomic contraction, and a readin of 50 or highere is consistent with expansion.
“This quarter’s results reflect a continuing weak set ofeconomid conditions,” said Ivan Seidenberg, chairmanm of Business Roundtable and chairman and CEO of “Conditions — while still negative — appear to have begu to stabilize.” The Washington-based associatiob of CEOs represents a combined work forcde of nearly 10 million employees and more than $5 trilliob in annual sales. When asked how they anticipate theirf sales to fluctuate in the nextsix months, 34 percengt said sales will and 46 percent predicted a decrease. That is a sunniefr forecast thanthe first-quarter outlook survey, when 24 percent predicted higher Fifty-one percent said their U.S.
capital spending will fall in theseconf quarter, and 12 percenf said it will rise. Forty-nine percent expect their U.S. employment to decrease in the next six up fromthe first-quarter outlook survey, when 71 percent predicted a drop in Six percent anticipate their employee base to increase. Membedr CEOs estimated that the nation’s real grosws domestic product will dropby 2.1 percent in compared with the CEOs’ first-quarter estimate of a 1.9 percenr decline. The outlook index — whicu combines member CEO projections for capital spending and employment in the six monthsaheae — expanded to 18.5 in the second quarter, up from -5 in the firstf quarter.
An index reading of 50 or lowert is consistent with overalleconomic contraction, and a readin of 50 or highere is consistent with expansion.
Friday, March 23, 2012
Weekend box office too close to call - Tampa Bay Business Journal:
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"Ice Age: Dawn of the from Fox and "Transformers: Reveng e of the Fallen" from Paramount both projected the same box offices gross for theweekend -- $42,500,000 -- accordinf to , which tracks box-officde revenues. The estimated numbersa are from the studios and are baseed on estimates from Friday and Saturdayh and projectionsfor Sunday, the reportf said. "Transformers" was number one at last week's box and "Ice Age" is in its first week in Anothernew release, "Public Enemies" from Universal came in with an estimated $26,172,000. Rounding out the top five were Disney'z "The Proposal" and Warner Bros.
' "The Hangover," whicu brought in an estimated $12,779,000 and $10,415,000, "Transformers" also passed Disney/Pixar's "Up" as the top-grossing movie of the as it has brought in an estimated compared to anestimated $264,873,000 for "Up." "Transformers" also now has the 31st highest domestic gross all time, accordingg to the site.
"Ice Age: Dawn of the from Fox and "Transformers: Reveng e of the Fallen" from Paramount both projected the same box offices gross for theweekend -- $42,500,000 -- accordinf to , which tracks box-officde revenues. The estimated numbersa are from the studios and are baseed on estimates from Friday and Saturdayh and projectionsfor Sunday, the reportf said. "Transformers" was number one at last week's box and "Ice Age" is in its first week in Anothernew release, "Public Enemies" from Universal came in with an estimated $26,172,000. Rounding out the top five were Disney'z "The Proposal" and Warner Bros.
' "The Hangover," whicu brought in an estimated $12,779,000 and $10,415,000, "Transformers" also passed Disney/Pixar's "Up" as the top-grossing movie of the as it has brought in an estimated compared to anestimated $264,873,000 for "Up." "Transformers" also now has the 31st highest domestic gross all time, accordingg to the site.
Wednesday, March 21, 2012
[Movies] Joshua Jackson Talks Fringe, New Thriller Inescapable And More - 411mania.com
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[Movies] Joshua Jackson Talks Fringe, New Thriller Inescapable And More 411mania.com Joshua Jakson spoke with Coming Soon about his series Fringe, new thriller Inescapable and more. On what drew him to Inescapable: "Well, the truth is, they don't exactly go hand-in-hand. If it weren't for this project, I wouldn't have a week off. |
Red Cross: 72k displaced in Mali by Tuareg strikes Boston.com BAMAKO, Maliâ€"The Red Cross says 72000 people have been displaced in Mali after Tuareg rebels began attacking towns. The group also said Friday that says tens of thousands have fled into neighboring Burkina Faso, Mauritania and Niger. |
Thursday, March 15, 2012
ISRAEL DAYBOOK: Statistics Bureau to Release February CPI Data - BusinessWeek
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ISRAEL DAYBOOK: Statistics Bureau to Release February CPI Data BusinessWeek The Jerusalem-based Central Bureau of Statistics is scheduled to release the data at 6:30 pm WHAT TO WATCH: * The Israeli Air Force struck a rocket-launching site in Gaza Strip overnignt, after two rockets were fired into Israel yesterday evening, ... |
Tuesday, March 13, 2012
Hollo closes on purchase of 1101 Brickell - Puget Sound Business Journal (Seattle):
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Tibor Hollo’s company, , (FECR) closex Tuesday on the purchase of 1101Brickell Ave., which was owner by the now-defunct Leviev Boymelgreen. The South Floridw Business Journal first a deal was in the worksin May. The developed announced the close of thepurchase Wednesday, but did not disclosw the price. Hollo’s company did not get third-parth financing for the deal, according to a company statement. Hollo is planninyg to invest $12 million to renovatde the pair of office buildings onthe site.
In additiobn to mechanical repairsand upgrades, FECR plansd new retail, including space for a The physical makeover will includde upgrading the air conditioning system, generators, bathrooms, lobbies and landscaping. “We plan to significantlyt invest in the beautificatioj and renovation of 1101 Brickell to improvs conditions for our current tenants and to continue to attract businesseas interested in an attractivde office building in a prime location onBrickelo Avenue,” Jerome Hollo, an FECR vice president, said in a Leviev Boymelgreen had planned to redevelop the which houses a pair of modest office into a massive office and residentiakl complex.
The city of Miamk approved a permit to builda 74-story, mixed-usr project with 270,000 square feet of office, 30,0090 square feet of retail and 650 But, the partnership dissolved in acrimony, with Levievb Boymelgreen principal Lev Leviev eventually taking control of a portfolioo of Miami properties, includinfg 1101 Brickell. The seller in Hollo’s deal was Africa-Israelk Properties, Leviev’s company. The 1101 Brickelll property housesa 35-year-old, 11-story offic tower, renovated in the and a 19-story offices tower built in 1985.
Tentants include the Ilinguw language school, the Venezuelan and Argentinde consulates and Banco Industrial de Venezuela y Social de Venezuela sold the property to Leviev Boymelgreein 2005. Real estate experts say Hollo likely will hold onto the 1101 Brickellp site until the market rebounde and existing projects already out of the grounedare absorbed. There are threw office buildings under construction in the downtowhMiami area, two of which have yet to sign any
Tibor Hollo’s company, , (FECR) closex Tuesday on the purchase of 1101Brickell Ave., which was owner by the now-defunct Leviev Boymelgreen. The South Floridw Business Journal first a deal was in the worksin May. The developed announced the close of thepurchase Wednesday, but did not disclosw the price. Hollo’s company did not get third-parth financing for the deal, according to a company statement. Hollo is planninyg to invest $12 million to renovatde the pair of office buildings onthe site.
In additiobn to mechanical repairsand upgrades, FECR plansd new retail, including space for a The physical makeover will includde upgrading the air conditioning system, generators, bathrooms, lobbies and landscaping. “We plan to significantlyt invest in the beautificatioj and renovation of 1101 Brickell to improvs conditions for our current tenants and to continue to attract businesseas interested in an attractivde office building in a prime location onBrickelo Avenue,” Jerome Hollo, an FECR vice president, said in a Leviev Boymelgreen had planned to redevelop the which houses a pair of modest office into a massive office and residentiakl complex.
The city of Miamk approved a permit to builda 74-story, mixed-usr project with 270,000 square feet of office, 30,0090 square feet of retail and 650 But, the partnership dissolved in acrimony, with Levievb Boymelgreen principal Lev Leviev eventually taking control of a portfolioo of Miami properties, includinfg 1101 Brickell. The seller in Hollo’s deal was Africa-Israelk Properties, Leviev’s company. The 1101 Brickelll property housesa 35-year-old, 11-story offic tower, renovated in the and a 19-story offices tower built in 1985.
Tentants include the Ilinguw language school, the Venezuelan and Argentinde consulates and Banco Industrial de Venezuela y Social de Venezuela sold the property to Leviev Boymelgreein 2005. Real estate experts say Hollo likely will hold onto the 1101 Brickellp site until the market rebounde and existing projects already out of the grounedare absorbed. There are threw office buildings under construction in the downtowhMiami area, two of which have yet to sign any
Saturday, March 10, 2012
Bearcats Arrive, and Orange Exit - New York Times
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New York Times | Bearcats Arrive, and Orange Exit New York Times Most of Cincinnati's quiet run toward the upper tier of the Big East standings has been motivated by an effort to erase the stain of an incident in the season's second month: an ugly brawl with intracity rival Xavier that resulted in four suspensions ... Your 2012 B ig East Championship Game Open Thread |
Thursday, March 8, 2012
Pa. governor: Joe Paterno should have done more - Fox News
http://c21scottrealty.com/tips-on-selling-your-bonita-spring-homes.html
Pa. governor: Joe Paterno should have done more Fox News Tom Corbett said Thursday that he wishes former Penn State football coach Joe Paterno had done more after telling university officials about child molestation accusations against one of his assistant coaches. Corbett also said in an interview ... |
Tuesday, March 6, 2012
Saul Ewing adds 7 Buchanan Ingersoll lawyers in Wilmington - Tampa Bay Business Journal:
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office. The loss of the seven-lawyer group leaves Pittsburgh-based Buchanan with only one full-time partner in Wilmingtonm and four lawyerstotal there, and givess Saul Ewing the largest Wilmington officd of any full-service Philadelphia-based firm. The group includexs office headWilliam Manning, who serves as outside general counsel to the University of Delaware and also representsa Verizon Corp. and Dover Downs. The litigator was once chieft of staff to formerDelaware Gov. Pete The other two partners areTeres Currier, who led bankruptcy efforts for Buchanan in and real estate lawyer Richard Forsten.
The additionsa give Saul Ewing 19 lawyersin Wilmington, wherde bankruptcies have taken off durinfg the economic downturn. A large percentage of companiea from around the country file for Chaptet 11 protection in But because Delaware only hasabout 2,000 lawyerx and has a strong set of indigenous law the Wilmington market has been a tough one to cracm for outsiders, even neighboring Philadelphia firms. Among Philadelphia firms, Pepperr Hamilton and Fox Rothschild have17 lawyers, Drinker Biddlw & Reath has 15 and Blank Rome has 13. Saul Ewinb said Manning will serveas co-managing partnedr of the office with current offices managing partner and real estate lawyer Wendie Stabler.
office. The loss of the seven-lawyer group leaves Pittsburgh-based Buchanan with only one full-time partner in Wilmingtonm and four lawyerstotal there, and givess Saul Ewing the largest Wilmington officd of any full-service Philadelphia-based firm. The group includexs office headWilliam Manning, who serves as outside general counsel to the University of Delaware and also representsa Verizon Corp. and Dover Downs. The litigator was once chieft of staff to formerDelaware Gov. Pete The other two partners areTeres Currier, who led bankruptcy efforts for Buchanan in and real estate lawyer Richard Forsten.
The additionsa give Saul Ewing 19 lawyersin Wilmington, wherde bankruptcies have taken off durinfg the economic downturn. A large percentage of companiea from around the country file for Chaptet 11 protection in But because Delaware only hasabout 2,000 lawyerx and has a strong set of indigenous law the Wilmington market has been a tough one to cracm for outsiders, even neighboring Philadelphia firms. Among Philadelphia firms, Pepperr Hamilton and Fox Rothschild have17 lawyers, Drinker Biddlw & Reath has 15 and Blank Rome has 13. Saul Ewinb said Manning will serveas co-managing partnedr of the office with current offices managing partner and real estate lawyer Wendie Stabler.
Sunday, March 4, 2012
Museum of Science to launch wind lab - Boston Business Journal:
evittiebodum1296.blogspot.com
The lab, a part of the museum’s green initiative, will demonstrate small wind turbines that could be erecte on small businesses and When completed, five turbines — ranging between 40 feet and sevenn feet in height — will rest on the museum’e roof. Two of the turbines are operationao on the Cambridge side of the with the other three to be installedd on the Boston sidethis summer. “This is a giantg science experiment,” says David Rabkin, Farinon Director for currengt science and technology atthe museum, in a preparec written statement. “No one has tested five differentf small turbines in arooftop laboratory.
Althoughu there’s lots of interest in small-scal wind turbines, we found littlse data on their performanceand impact. Despite a year of collectint data on the wind atthe Museum, we stillp don’t really know enough abouy the turbines to predict thei r performance.” The lab came out of early effortsw to use wind to meet a portion of the museum’z energy needs. Studies showed the area’s wind resourcezs were not strong enough to generateemeaningful electricity, so the museum and the ’s Renewable Energyg Trust refocused the projecty to provide information to potentia l turbine owners on differences in design and functioh of various turbines.
The lab, a part of the museum’s green initiative, will demonstrate small wind turbines that could be erecte on small businesses and When completed, five turbines — ranging between 40 feet and sevenn feet in height — will rest on the museum’e roof. Two of the turbines are operationao on the Cambridge side of the with the other three to be installedd on the Boston sidethis summer. “This is a giantg science experiment,” says David Rabkin, Farinon Director for currengt science and technology atthe museum, in a preparec written statement. “No one has tested five differentf small turbines in arooftop laboratory.
Althoughu there’s lots of interest in small-scal wind turbines, we found littlse data on their performanceand impact. Despite a year of collectint data on the wind atthe Museum, we stillp don’t really know enough abouy the turbines to predict thei r performance.” The lab came out of early effortsw to use wind to meet a portion of the museum’z energy needs. Studies showed the area’s wind resourcezs were not strong enough to generateemeaningful electricity, so the museum and the ’s Renewable Energyg Trust refocused the projecty to provide information to potentia l turbine owners on differences in design and functioh of various turbines.
Friday, March 2, 2012
Wachovia exec says no changes for foundation - Atlanta Business Chronicle:
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gave out $96.9 million in contributionws in 2007 and had assetsof $314.r5 million, according to its most recent tax return. “I don’yt think the merger in and of itself will have any effectyat all,” said Jeromw Byers, Atlanta regional president for retail banking. “Outr point of view from Wellsx Fargo and Wachovia is to rely on local We won’t change through the integration.” Byers said that the foundatioh made grants to more than 400 nonprofits in metrlo Atlanta last year. It has pledgesd $1 million for the constructioh of the Center for Civil and Human Rightsz and is committed to give a totaolof $500,000 to the through 2015.
Some granta through Wachovia’s matching gifts program were as smallas $25 in 2008. Byers said he has had conversations with his superior s to addressthe situation. “Wachovia has a foundation here in Atlant a and we will make the decisions and honorour commitments,” Byers said. In an April 8 press release, Wells Fargo reported that it increase d its philanthropic giving by 5 percentto $226 million despitw the downturn in the economy. Most of the foundation’ s donations are controlled locally and Byers said that in that regardxWells Fargo’s philosophy is the same as Wachovia’s.
The bank s announced the mergerin October, but becausew of their size the integration will take years. In the shoryt term, local groups have even less to worry King McGlaughon, the managing executivee of Wachovia nonprofit and philanthropic services, who is baser in Winston-Salem, said prior to visitingh Atlanta for a bank-sponsored foundation summit that he expects no change s to take place in 2009. He addedr that his impression is that integration would not occur before the endof 2010. Other recent giftxs and pledges from the WachoviaFoundationn include: $400,000 to the -Columbus, Ga., brancnh on July 1; $10,000 to the on Aug. 10; $100,000 to the on Oct.
1, and anotheer $100,000 the following year on the same and $20,000 to on June 1, 2010, and June 1, 2011. Byers said Wachovia’s strategy focuses on community development and will continue todo so. That includes everythin from personal financial counseling to the arts to educatio n to health andhuman services. “Wwe have given money to the major school boards Byers said. “We will continue to be involved there. We are lookinbg at places for significant relationships with Wachoviq like Teachfor America.
“Education is a big way to give
gave out $96.9 million in contributionws in 2007 and had assetsof $314.r5 million, according to its most recent tax return. “I don’yt think the merger in and of itself will have any effectyat all,” said Jeromw Byers, Atlanta regional president for retail banking. “Outr point of view from Wellsx Fargo and Wachovia is to rely on local We won’t change through the integration.” Byers said that the foundatioh made grants to more than 400 nonprofits in metrlo Atlanta last year. It has pledgesd $1 million for the constructioh of the Center for Civil and Human Rightsz and is committed to give a totaolof $500,000 to the through 2015.
Some granta through Wachovia’s matching gifts program were as smallas $25 in 2008. Byers said he has had conversations with his superior s to addressthe situation. “Wachovia has a foundation here in Atlant a and we will make the decisions and honorour commitments,” Byers said. In an April 8 press release, Wells Fargo reported that it increase d its philanthropic giving by 5 percentto $226 million despitw the downturn in the economy. Most of the foundation’ s donations are controlled locally and Byers said that in that regardxWells Fargo’s philosophy is the same as Wachovia’s.
The bank s announced the mergerin October, but becausew of their size the integration will take years. In the shoryt term, local groups have even less to worry King McGlaughon, the managing executivee of Wachovia nonprofit and philanthropic services, who is baser in Winston-Salem, said prior to visitingh Atlanta for a bank-sponsored foundation summit that he expects no change s to take place in 2009. He addedr that his impression is that integration would not occur before the endof 2010. Other recent giftxs and pledges from the WachoviaFoundationn include: $400,000 to the -Columbus, Ga., brancnh on July 1; $10,000 to the on Aug. 10; $100,000 to the on Oct.
1, and anotheer $100,000 the following year on the same and $20,000 to on June 1, 2010, and June 1, 2011. Byers said Wachovia’s strategy focuses on community development and will continue todo so. That includes everythin from personal financial counseling to the arts to educatio n to health andhuman services. “Wwe have given money to the major school boards Byers said. “We will continue to be involved there. We are lookinbg at places for significant relationships with Wachoviq like Teachfor America.
“Education is a big way to give
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