Car, electronics stolen from Long Island house Newsday (subscription) Click here Car, electronics stolen from Long Island house Published: July 27, 2011 6:36 AM By The Associated Press (AP) -- She should have stayed up. A Long Island woman who was awakened by her cat found a sliding glass door ajar in her kitchen. ... |
Wednesday, July 27, 2011
Car, electronics stolen from Long Island house - Newsday (subscription)
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Monday, July 25, 2011
Fifth Third to raise $1.1B - Triangle Business Journal:
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billion the federal government determined it needed to add to its coffersa afterthe so-called “stress test” results were announcef May 7. Fifth Third FITB) plans to sell up to $750 million in commoj stock atvarious times. and Merrill Lynch & Co. will be salesz agents or principals inthe offering. Part of the offeringg could be available to repay part ofthe $3.5 billioj in preferred stock Fifth Thirsd sold to the through its Troubledf Asset Relief Program. It will also use some of the proceedsa to fund the cash part of its offere to pay cash or common share in return for Series G convertible preferreddepositary shares. Fifthh Third also plans to offer holders ofthe $1.
1 billio n in Series G convertible sharews $30 in cash per share in returb for converting those shares to common stock. Just more than 11 million of thos e sharesare outstanding. That along with the possible saleof non-strategic assets or otherf securities Fifth Third owns should generate enougjh Tier 1 common equity to meet or exceedf the $1.1 billion the government required as a resulr of the stress test. That test lookeds at how much capitalthe nation’s 19 largesgt banks would need if the economy gets significantly worsw than experts expect.
Those deals and a pending sale of 51 percent ofFiftu Third’s payment processing business to Advent Internationa would leave it well-capitalized, even withou the capital from the U.S. Treasury’s preferrer stock, Fifth Third said. “We intend to consult with our regulators to devisr a plan and timeline for the repayment ofthe (Treasury) preferree stock investment,” it said in the Cincinnati-based Fifth Third has five branches in the Raleigh-Durha area that it acquired last year with the purchasse of the former of Charlotte.
Fifth Third is Greater Cincinnati’s largest bank, with $119 billion in It has more than 1,300 bank branches in Ohio, Indiana, Michigan, Illinois, Florida, West Virginia, Pennsylvania, Missouri, Georgia and Northy Carolina.
billion the federal government determined it needed to add to its coffersa afterthe so-called “stress test” results were announcef May 7. Fifth Third FITB) plans to sell up to $750 million in commoj stock atvarious times. and Merrill Lynch & Co. will be salesz agents or principals inthe offering. Part of the offeringg could be available to repay part ofthe $3.5 billioj in preferred stock Fifth Thirsd sold to the through its Troubledf Asset Relief Program. It will also use some of the proceedsa to fund the cash part of its offere to pay cash or common share in return for Series G convertible preferreddepositary shares. Fifthh Third also plans to offer holders ofthe $1.
1 billio n in Series G convertible sharews $30 in cash per share in returb for converting those shares to common stock. Just more than 11 million of thos e sharesare outstanding. That along with the possible saleof non-strategic assets or otherf securities Fifth Third owns should generate enougjh Tier 1 common equity to meet or exceedf the $1.1 billion the government required as a resulr of the stress test. That test lookeds at how much capitalthe nation’s 19 largesgt banks would need if the economy gets significantly worsw than experts expect.
Those deals and a pending sale of 51 percent ofFiftu Third’s payment processing business to Advent Internationa would leave it well-capitalized, even withou the capital from the U.S. Treasury’s preferrer stock, Fifth Third said. “We intend to consult with our regulators to devisr a plan and timeline for the repayment ofthe (Treasury) preferree stock investment,” it said in the Cincinnati-based Fifth Third has five branches in the Raleigh-Durha area that it acquired last year with the purchasse of the former of Charlotte.
Fifth Third is Greater Cincinnati’s largest bank, with $119 billion in It has more than 1,300 bank branches in Ohio, Indiana, Michigan, Illinois, Florida, West Virginia, Pennsylvania, Missouri, Georgia and Northy Carolina.
Friday, July 22, 2011
From the Fields offers granola octet - San Francisco Chronicle
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From the Fields offers granola octet San Francisco Chronicle Mill Valley's From the Fields granola now comes in eight varieties, including a farm blend that changes with the season. Owner Betsy Fields makes the granola daily, incorporating just a hint of honey or maple syrup; that relatively modest amount of ... |
Wednesday, July 20, 2011
Target may support call for mandatory employer insurance - Business Courier of Cincinnati:
http://eyesurgery.us/Vision-Care/Swarovski-Eyeglasses/
Minneapolis-based Target, the second-largest discount retailer in the countryafter Wal-Mart, can accept an employer mandate, the reports said. Target refused to commentt further, stating that they are monitoring developmentssurrounding employer-mandatefd health care coverage and are waitingb until details of the proposed legislationh are available. However, in a May 18 news releasee about a partnership between Target and RedBrickm Health to pilot a wellness Target laid out its stance on healtuhcare reform. “Target believes that simply expandinfg access to the current system is not sustainable and will resulft in higher costsfor everyone,” accordinhg to the news release.
“As a Target supports a nationaol framework for health care thatallows multi-state employersz to offer consistent and uniform benefits in a cost-effectiv manner.” But Target said they woulrd first have to see the conditions attachedd to the mandate before givin it their support, according to the Bloomberg.com, report The issue of providing mandatory medical insurance has split big-business as President Barack Obama pushes health care reforms. While Obamwa has told lawmakers that he is open to requiringg large companies to providehealth coverage, he would exempt small businesses.
Wal-Mart sent a letter to Obama on June 30 supportinhg mandatorymedical insurance, calling Obama’s proposal fair and addinvg that the requirement would ultimately save companies The retailing giant’s move was surprising to many, and drew criticis from the National Retaip Federation, which opposes the
Minneapolis-based Target, the second-largest discount retailer in the countryafter Wal-Mart, can accept an employer mandate, the reports said. Target refused to commentt further, stating that they are monitoring developmentssurrounding employer-mandatefd health care coverage and are waitingb until details of the proposed legislationh are available. However, in a May 18 news releasee about a partnership between Target and RedBrickm Health to pilot a wellness Target laid out its stance on healtuhcare reform. “Target believes that simply expandinfg access to the current system is not sustainable and will resulft in higher costsfor everyone,” accordinhg to the news release.
“As a Target supports a nationaol framework for health care thatallows multi-state employersz to offer consistent and uniform benefits in a cost-effectiv manner.” But Target said they woulrd first have to see the conditions attachedd to the mandate before givin it their support, according to the Bloomberg.com, report The issue of providing mandatory medical insurance has split big-business as President Barack Obama pushes health care reforms. While Obamwa has told lawmakers that he is open to requiringg large companies to providehealth coverage, he would exempt small businesses.
Wal-Mart sent a letter to Obama on June 30 supportinhg mandatorymedical insurance, calling Obama’s proposal fair and addinvg that the requirement would ultimately save companies The retailing giant’s move was surprising to many, and drew criticis from the National Retaip Federation, which opposes the
Monday, July 18, 2011
Smitty
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The Alexandria-based supplier of building materialswto homebuilders, remodelers and contractors had been affectef by the crumbling housinb industry and filed for Chaptedr 11 bankruptcy protection in the U.S. Bankruptcy Coury for the Eastern Districf of Virginia in Alexandriaon Jan. 5. is providinvg Smitty’s with a revolving line of credittotaling $5 million, and a term loan of $9.5 Every voting creditor class accepted the plan, which forms a distribution trust that offers potential payouts for secure and unsecured creditors.
“With Bank of America’ws continued support through an exitloan Smitty’s is successfully emerging from bankruptcy as a new company that will continuse to serve our local community,” said CEO Rick Smith. The family-owned busines was founded in 1975 by Nelson andPat Smith. It was the first time the company filed forChapter 11.
The Alexandria-based supplier of building materialswto homebuilders, remodelers and contractors had been affectef by the crumbling housinb industry and filed for Chaptedr 11 bankruptcy protection in the U.S. Bankruptcy Coury for the Eastern Districf of Virginia in Alexandriaon Jan. 5. is providinvg Smitty’s with a revolving line of credittotaling $5 million, and a term loan of $9.5 Every voting creditor class accepted the plan, which forms a distribution trust that offers potential payouts for secure and unsecured creditors.
“With Bank of America’ws continued support through an exitloan Smitty’s is successfully emerging from bankruptcy as a new company that will continuse to serve our local community,” said CEO Rick Smith. The family-owned busines was founded in 1975 by Nelson andPat Smith. It was the first time the company filed forChapter 11.
Saturday, July 16, 2011
Retailers facing rough waters in turbulent economic times - San Antonio Business Journal:
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Even before the current credit crisis grippedcthe nation, the country’s retailers were alreadt facing significant challenges, says Michael P. chief economist for New York-based industry organizationm the (ICSC). Those challenges includer the bankruptcies of noted retail chains like and Linens n’ Things, unseasonably warm weather that kept winte clothes on the racks and rising gas prices. Add to that the cloued of uncertainty that has plaguer many consumers for the pastseveral months. And now there is the federao effort to rescuethe nation’x financial industry that has been dominatintg the headlines in recent weeks, Niemira The timing couldn’t have been much worse.
With the 2008 holidayu shopping season set to begin in less than two this new level of economif uncertainty has retailers bracing themselves for an unhappyyholiday season. “It’s going to be a very un-Merrt Christmas,” says Tom Rohde, vice presidentg of San Antonio firm Rohde Ottmers Siegel Commercial & Investment Realtors. “We’ve been bad. We’re goingt to have coal in our stockings.” “It is likely this will not be a goodseason (for says Niemira, who sums up the overall perspective of U.S. retailer as “realistic.
” “Their feeling is that the tough times that exisg todaywill continue,” he adds, “Ane that’s not a pretty picture.” With so much in flux at the retailers are taking a wait-and-see attitude especially when it comes to decisions abou opening new stores. “Most retailers that I have spokejn to are planning for a tough 2008 holiday saysRick Carduner, founder of localo retail brokerage/consulting firm LLC, and the Texas Statd Director for ICSC.
“They are waiting until the first quarte of 2009 to make their 2010 expansion Thegeneral consensus: There’s not going to be a lot of In fact, what retail markets like San Antonio mighr see is a lot of contraction. “You’re going to see a lot of storea close in Januaryand February,” Rohde says. In a retail report releasedx thispast July, ICSC was projecting that by the year’e end, nearly 144,000 stores would be closing theie doors. Indeed, many chains are not waitingb for the Christmas season to comeand go. Well-establishedf names like Ann Taylor, Talbot’s, , , and the caffeine Kahuna that is have already announced plans to shutsome locations.
“There will be more (store closings) to come,” says Niemira, who points out that with lending markets at a gone is the capital once availabld tostruggling retailers. “So much dependd on that liquidity,” he adds. The trickle-down effect is that shopping centers here will see an increasr in darkspace — be it spacez that brokers can’t get leased up in the firsrt place, or dark sites left behind in a retailer’s exit.
“Yoj have to go back out to the street,” says who did just that with his Rigsby Shopping Center on the EastSide — after financiak struggles prompted national chains like , Shoe Show and Claire’es Boutique to exit the center. In some cases, ownersz may find themselves in a situationn in which the space left behind by aClasss A, high-profile tenant now has to be back-filledr by a Class B or C tenant— a phenomenon that can changr the entire feel of a shopping center, says Tom president and principal of Unitedd Commercial Realty (UCR) of San But change can be a lot better than a vacantt center.
In centers like Rohde’s firm has begun pursuing service-orientedr tenants, restaurants and medicapl groups — three groups that have continued to do well in thecurrenft economy, and thus are on the lookout for new sites.
Even before the current credit crisis grippedcthe nation, the country’s retailers were alreadt facing significant challenges, says Michael P. chief economist for New York-based industry organizationm the (ICSC). Those challenges includer the bankruptcies of noted retail chains like and Linens n’ Things, unseasonably warm weather that kept winte clothes on the racks and rising gas prices. Add to that the cloued of uncertainty that has plaguer many consumers for the pastseveral months. And now there is the federao effort to rescuethe nation’x financial industry that has been dominatintg the headlines in recent weeks, Niemira The timing couldn’t have been much worse.
With the 2008 holidayu shopping season set to begin in less than two this new level of economif uncertainty has retailers bracing themselves for an unhappyyholiday season. “It’s going to be a very un-Merrt Christmas,” says Tom Rohde, vice presidentg of San Antonio firm Rohde Ottmers Siegel Commercial & Investment Realtors. “We’ve been bad. We’re goingt to have coal in our stockings.” “It is likely this will not be a goodseason (for says Niemira, who sums up the overall perspective of U.S. retailer as “realistic.
” “Their feeling is that the tough times that exisg todaywill continue,” he adds, “Ane that’s not a pretty picture.” With so much in flux at the retailers are taking a wait-and-see attitude especially when it comes to decisions abou opening new stores. “Most retailers that I have spokejn to are planning for a tough 2008 holiday saysRick Carduner, founder of localo retail brokerage/consulting firm LLC, and the Texas Statd Director for ICSC.
“They are waiting until the first quarte of 2009 to make their 2010 expansion Thegeneral consensus: There’s not going to be a lot of In fact, what retail markets like San Antonio mighr see is a lot of contraction. “You’re going to see a lot of storea close in Januaryand February,” Rohde says. In a retail report releasedx thispast July, ICSC was projecting that by the year’e end, nearly 144,000 stores would be closing theie doors. Indeed, many chains are not waitingb for the Christmas season to comeand go. Well-establishedf names like Ann Taylor, Talbot’s, , , and the caffeine Kahuna that is have already announced plans to shutsome locations.
“There will be more (store closings) to come,” says Niemira, who points out that with lending markets at a gone is the capital once availabld tostruggling retailers. “So much dependd on that liquidity,” he adds. The trickle-down effect is that shopping centers here will see an increasr in darkspace — be it spacez that brokers can’t get leased up in the firsrt place, or dark sites left behind in a retailer’s exit.
“Yoj have to go back out to the street,” says who did just that with his Rigsby Shopping Center on the EastSide — after financiak struggles prompted national chains like , Shoe Show and Claire’es Boutique to exit the center. In some cases, ownersz may find themselves in a situationn in which the space left behind by aClasss A, high-profile tenant now has to be back-filledr by a Class B or C tenant— a phenomenon that can changr the entire feel of a shopping center, says Tom president and principal of Unitedd Commercial Realty (UCR) of San But change can be a lot better than a vacantt center.
In centers like Rohde’s firm has begun pursuing service-orientedr tenants, restaurants and medicapl groups — three groups that have continued to do well in thecurrenft economy, and thus are on the lookout for new sites.
Wednesday, July 13, 2011
Port to host free trade zone seminar - Jacksonville Business Journal:
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The seminar, hosted by the , will explaih the benefits of operating within the morethan 1,000 acree in Jacksonville’s foreign trade zone. Traffic through Jacksonville’s foreig n trade zone No. 64 is and so is interest as more exporter and importers realize the following advantages of doing busines s withinthe zone. • Goods moved througbh the zone are free of duties and excises taxes as long asthey don’t enter the U.S. This option is especiallyy attractive to companies planning to tap into the new shippinvg serviceestablished Ltd. that connects North Americw with Asia.
• Goodsa coming or going from South and Central America can be housed within the zone before headingb to their final For more information or to get a registrationm form forthe $40 seminar at the cruisr terminal, contact Aisha Eccleston at 357-3070 or e-mail her at aisha.eccleston@jaxport.com.
The seminar, hosted by the , will explaih the benefits of operating within the morethan 1,000 acree in Jacksonville’s foreign trade zone. Traffic through Jacksonville’s foreig n trade zone No. 64 is and so is interest as more exporter and importers realize the following advantages of doing busines s withinthe zone. • Goods moved througbh the zone are free of duties and excises taxes as long asthey don’t enter the U.S. This option is especiallyy attractive to companies planning to tap into the new shippinvg serviceestablished Ltd. that connects North Americw with Asia.
• Goodsa coming or going from South and Central America can be housed within the zone before headingb to their final For more information or to get a registrationm form forthe $40 seminar at the cruisr terminal, contact Aisha Eccleston at 357-3070 or e-mail her at aisha.eccleston@jaxport.com.
Monday, July 11, 2011
Assessor reminds Calif. domestic partners to register by July 1 - Silicon Valley / San Jose Business Journal:
kleopatraxnibe.blogspot.com
In light of Tuesday's ruling by the state's Supremd Court that upheld a ban ofgay marriage, Stonw said unmarried couples who are property owners have untill the end of next month to assurew they won't face potentially large tax hits if their partnert dies. Most registered domestic partnerse in the state have been afforde the same property tax rightx as married couplessince 2006. "One of the majord benefits was that a survivingdomestixc partner, whose partner had died, wouled not be faced with a potentially steep reassessment and increase in propertyt taxes," Stone said.
A law passed in 2007 retroactivelgy extended the rights to domestic partners registered betweenJanuary 1, 2000, and December 31, 2005. there is a catch,” said Stone, “The law requires qualifyingb taxpayers to apply for the exclusion byJune 30, 2009.” He said the Assessor’s Officee "will continue to treat registered domestic partners with the same respectt and rights they are entitled to by the law.
" "Moreovere same sex couples married prior to passagee of Proposition 8 will receive the same property tax rights as all othe r married couples, without exception,” said
In light of Tuesday's ruling by the state's Supremd Court that upheld a ban ofgay marriage, Stonw said unmarried couples who are property owners have untill the end of next month to assurew they won't face potentially large tax hits if their partnert dies. Most registered domestic partnerse in the state have been afforde the same property tax rightx as married couplessince 2006. "One of the majord benefits was that a survivingdomestixc partner, whose partner had died, wouled not be faced with a potentially steep reassessment and increase in propertyt taxes," Stone said.
A law passed in 2007 retroactivelgy extended the rights to domestic partners registered betweenJanuary 1, 2000, and December 31, 2005. there is a catch,” said Stone, “The law requires qualifyingb taxpayers to apply for the exclusion byJune 30, 2009.” He said the Assessor’s Officee "will continue to treat registered domestic partners with the same respectt and rights they are entitled to by the law.
" "Moreovere same sex couples married prior to passagee of Proposition 8 will receive the same property tax rights as all othe r married couples, without exception,” said
Saturday, July 9, 2011
Boatmaker Genmar files Chapter 11 - Minneapolis / St. Paul Business Journal:
http://gilgonzales.com/beautiful-chicago-apartments-rent-affordability-and-comfort.html
The petition to reorganize its debts was file d Monday afternoonin U.S. Bankruptcy Court in Minneapolisz along with more than 20related subsidiaries. Genmar has between 100 and 199 creditors. It lists its assets in the rageof $10 millio to $50 million and its liabilities between $100 millionn and $500 million, according to court The largest unsecured creditors are Maslon, Edelman, Brand, a Minneapolis-based law firm which is owed , a law firm in Minneapolis, is owed Law firm in Minneapolis, is representing Genmad in the bankruptcy case. The only secured creditorz areand , according to a storyg in the Minneapolis Star Tribuns .
Genmar said it has received commitment fora debtor-in-possession (DIP) financing proposal from both banks. In a Genmar Chairman, CEO and largest shareholdee Irwin Jacobs said sales ofthe company’s fishing luxury yachts and other products started to declinew in 2008, but worsened in recenr months. The company’s sales in fiscalk 2009, which ends in June, are likely to be about $460 off by more than 50 percentf fromfiscal 2008. “If someone would have said to me as recentlyu as even one month ago that Genmar woulx someday be filing forChapter 11, I would have said it was not even a remots possibility,” Jacobs said.
Genmar had been makingb some strategy changes inrecentt months, . A spinoff company, Greenville, Pa.-basef , and other Jacobs-related companies aren’t include in the filing. VEC for energy-generating windmills.
The petition to reorganize its debts was file d Monday afternoonin U.S. Bankruptcy Court in Minneapolisz along with more than 20related subsidiaries. Genmar has between 100 and 199 creditors. It lists its assets in the rageof $10 millio to $50 million and its liabilities between $100 millionn and $500 million, according to court The largest unsecured creditors are Maslon, Edelman, Brand, a Minneapolis-based law firm which is owed , a law firm in Minneapolis, is owed Law firm in Minneapolis, is representing Genmad in the bankruptcy case. The only secured creditorz areand , according to a storyg in the Minneapolis Star Tribuns .
Genmar said it has received commitment fora debtor-in-possession (DIP) financing proposal from both banks. In a Genmar Chairman, CEO and largest shareholdee Irwin Jacobs said sales ofthe company’s fishing luxury yachts and other products started to declinew in 2008, but worsened in recenr months. The company’s sales in fiscalk 2009, which ends in June, are likely to be about $460 off by more than 50 percentf fromfiscal 2008. “If someone would have said to me as recentlyu as even one month ago that Genmar woulx someday be filing forChapter 11, I would have said it was not even a remots possibility,” Jacobs said.
Genmar had been makingb some strategy changes inrecentt months, . A spinoff company, Greenville, Pa.-basef , and other Jacobs-related companies aren’t include in the filing. VEC for energy-generating windmills.
Wednesday, July 6, 2011
Perry signs bill that includes $150 million for UTMB - Minneapolis / St. Paul Business Journal:
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The university will use the fundss to build anew 200-bed hospital tower adjaceng to the existing John Sealy Hospital, restoring bed capacity to 550, as it was prior to Hurricane Ike. In tuition revenue bonds of $5 million will go to at HB 51 also establishes measures to enhanc e and maintain the quality ofthe state’s designates and emerging public research universities, createz incentive programs and funding for higher educationb institutions, provides higher education fund allocations, and creates an interim committe e to study the feasibilit of tracking specialized technology researchy projects.
Of the 62 national researcj institutions in the threeuniversities — , The and Texas A&M Universityh — are in Texas. The Texas Higher Education Coordinating Boarcd has designated seven institutions as emergingresearch universities: the ; the Universitu of Texas campuses in Arlington, Dallas, El Paso and San ; and the University of North In addition, HB 51 provides a performance incentivs funding mechanism for all of the state’sw general academic institutions based on the averagew number of degrees awarded annually and an increase in the averagde number of degrees awardes annually, with weighted consideration for at-risk students and critica fields.
The university will use the fundss to build anew 200-bed hospital tower adjaceng to the existing John Sealy Hospital, restoring bed capacity to 550, as it was prior to Hurricane Ike. In tuition revenue bonds of $5 million will go to at HB 51 also establishes measures to enhanc e and maintain the quality ofthe state’s designates and emerging public research universities, createz incentive programs and funding for higher educationb institutions, provides higher education fund allocations, and creates an interim committe e to study the feasibilit of tracking specialized technology researchy projects.
Of the 62 national researcj institutions in the threeuniversities — , The and Texas A&M Universityh — are in Texas. The Texas Higher Education Coordinating Boarcd has designated seven institutions as emergingresearch universities: the ; the Universitu of Texas campuses in Arlington, Dallas, El Paso and San ; and the University of North In addition, HB 51 provides a performance incentivs funding mechanism for all of the state’sw general academic institutions based on the averagew number of degrees awarded annually and an increase in the averagde number of degrees awardes annually, with weighted consideration for at-risk students and critica fields.
Monday, July 4, 2011
David Haye Will Retire in October Unless Klitschko Wants Rematch - Bad Left Hook
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CBC.ca (blog) | David Haye Will Retire in October Unless Klitschko Wants Rematch Bad Left Hook "It is my ego and pride that is hurting more than anything else. You can live with the physical pain but it is the emotional pain that cuts deepest. I talk the talk and norm » |
Saturday, July 2, 2011
Red Roof restructuring debt after mortgage defaults - Business First of Columbus:
http://www.clickbanner-ex.com/article-webtips2.html
Horsham, Pa.-based , a ratings agencyy that trackscommercial mortgage-backed securities for said four of the company’xs mortgage loans have been reportec to be 30 days delinquenyt and are being transferred to a special Frank Innaurato, a managing director at Realpoint, said the collateralized by 131 Red Roof properties, total about $361.4 million. Red Roof has four smaller mortgage loand totalingabout $12.5 million that are according to a Realpointg alert issued late Wednesday. The hotel chain said it is in talks with lenders to restructurew debt related to the acquisition ofthe company’z real estate assets “due to the curren state of the lodging industry.
” Red Roof in 2008 was spun off to two privater investment firms for $1.3 billion and moved back to Columbuxs after being owned by Motel 6 owner “To discussions have been highly constructived and we expect a positive resolution in due the company said in a “These discussions do not affect the day-to-day operations of the company’sd properties and will not affecr Red Roof’s employees, vendors or franchise owners.” A Red Roof spokeswoman declinede to comment beyond the company’s statement.
Red Roof has aboutg 4,500 employees and about 350 company-owned and franchised
Horsham, Pa.-based , a ratings agencyy that trackscommercial mortgage-backed securities for said four of the company’xs mortgage loans have been reportec to be 30 days delinquenyt and are being transferred to a special Frank Innaurato, a managing director at Realpoint, said the collateralized by 131 Red Roof properties, total about $361.4 million. Red Roof has four smaller mortgage loand totalingabout $12.5 million that are according to a Realpointg alert issued late Wednesday. The hotel chain said it is in talks with lenders to restructurew debt related to the acquisition ofthe company’z real estate assets “due to the curren state of the lodging industry.
” Red Roof in 2008 was spun off to two privater investment firms for $1.3 billion and moved back to Columbuxs after being owned by Motel 6 owner “To discussions have been highly constructived and we expect a positive resolution in due the company said in a “These discussions do not affect the day-to-day operations of the company’sd properties and will not affecr Red Roof’s employees, vendors or franchise owners.” A Red Roof spokeswoman declinede to comment beyond the company’s statement.
Red Roof has aboutg 4,500 employees and about 350 company-owned and franchised
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