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Park plans to open his second store later this year inBeverly Hills, just off prestigiouw Rodeo Drive. He’s also looking to double his space at the this less than two years aftermovin in. Park’s growth has stemmed from a carefukl cultivation of customers andvendors — he’s the only authorizedc retailer for several brands — and a savvyg use of technology to promote a traditional, low-tecjh product. Part of Park’s strategy to expand his 5-year-old businesse has been to nurture his, and the reputation as an expertin men’as shoes and fashion. And he’ds undeterred by the recession, even thoughg the shoes he sellds retail upwardsof $500 per pair.
“I’ 100 percent confident I’m goingt to do well,” he said of the California move. He has done his and met with his online clientsa to make sure that the marke tis there. Leather Soul had revenues of $1.3 million last year 35 percent of that from Internetsalesx — which exceeded Park’s goal by 30 percent. This year he wantsx to best that by another30 percent. He’s financingf the expansion to Beverly Hillds with hisown money, with assistance from Bank of Hawaik and help from some childhood friends. The brandse at Leather Soul — the American-mades Alden; British brands Edward Green, John Lobb and Gazianpo & Girling, and the French label J.M.
Westo — are not available anywhere elsein “The products I sell, they’rwe all the best quality,” he “Even in a bad economy, people stilk want good quality.” The decision to go to the Los Angelesz area came about after the sales representative from Massachusetts-based Alden approachedf Park about an opportunity to take over the shoe department of a well-knowb men’s store in Beverly Hills. The companyt had a dealer in Northern California, but no presence in the southern part of the Park met with people from the store, which he declinesd to name, and thought it seemedx like a good opportunity.
But while driving around the he began to notice a lot of vacantretail space. “If you thini Hawaii is bad, it’s twicw as bad in L.A.,” he “I just thought there must be some opportunityt for agood deal.” He returned to Los Angeles a month later, met with real estate brokers and began looking at retai spaces. The place he pickedf was one that hejust “stumbled” a historic building at the corner of Rodeo Drive and Littles Santa Monica Boulevard. The ground-floor space is also next to a shoe-repaitr shop. Park found that landlordsx are much more willinyg to negotiate in this economy than they were just a coupled ofyears ago.
A half-dozen retail spacex on Rodeo Drive, less than a block from the one Park is are listed for lease withrent “negotiable,” according to Park has signed a letter of intent for a 650-square-foot spac e and is in negotiations for the aiming for a December opening. “The same spot a year-and-a-halft ago would have been twiceas expensive,” he He’s also talking with the Festival Cos., which manages the Royalp Hawaiian Center, about movint to a space that’s twice the size of his 600-square-foot store on the third level of Building A.
Monday, January 30, 2012
Saturday, January 28, 2012
Tourism pushes have
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has announced “Epic Summer,” a first-time offering of guided group tourz aimed at getting people to visit the popular winteer destinations during the typically slowe rsummer season. And officials from Colorado’s Eastern Plains were in Denvere recentlypromoting “Our Journey,” a package offerin g 13 free museum tours and free prizes for visitorx who hit a majority of them. The efforts, in combinatioj with the ColoradoTourism Office’s new push for cultural heritage tours in outlying areas of the mark the most substantiap efforts in memory to nudge Denveritw vacationers to neighboring counties.
“What we are hearing is that this is goinf to be a summerof ‘bacmk to the basics, let’ s put the kids in the statioj wagon and drive,’” Vail Resorts Chairman and CEO Rob Katz “People forget Colorado has so much to offer.” The Vail Resorta “Epic Summer” package is aimeds at multi-generational family trips of people wantinf to see the Rocky Mountains in a more in-depth way. While interest has been high among out-of-staters so far, a numberr of inquiries also have come from Coloradpo familieswho haven’t reallyu taken the time to explore the Rockies, Katz said.
The all-inclusivs packages, which begin at $199 per person per include stays at a Vail Resorts meals and guided trips to destinationz both on and offresort properties. Those includ whitewater rafting adventures, horseback ride s on Beaver Creek Mountainand gold-mine with time for optional activities such as “Our Journey,” a collaboration of museumm directors in four central Eastern Plains counties, is bein offered for the fourth straight year.
But backers are puttin more effort intopromoting it, are giving two books abouf the area to anyone who visits sevehn of the museums and have packaged the trip with a CD of 24 songs that participants can listen to while driving betweebn stops. The stops rangse from larger facilities like the Elberyt County Museum that includes a new fossil exhibit to smallerf spaces likeGrampa Jerry’s Clown Museum in displaying one man’s collection of artifacts featurin g the circus performers. Families on the move couldr see all 13 of the sites inone weekend, said Daniellee Dascalos, a publicist for the effort. “We’rs not as much a destination spot, ...
so it’zs truly an alternative to maximize things you can do in themetrop area,” said Carol Beam, a volunteer with the Elbert County Museum. “In a time when the economy’s tight, this may be our summer to To learn aboutVail “Epic Summer,” . For information on “Our Journey” or to order a bookleyt and song CD, .
has announced “Epic Summer,” a first-time offering of guided group tourz aimed at getting people to visit the popular winteer destinations during the typically slowe rsummer season. And officials from Colorado’s Eastern Plains were in Denvere recentlypromoting “Our Journey,” a package offerin g 13 free museum tours and free prizes for visitorx who hit a majority of them. The efforts, in combinatioj with the ColoradoTourism Office’s new push for cultural heritage tours in outlying areas of the mark the most substantiap efforts in memory to nudge Denveritw vacationers to neighboring counties.
“What we are hearing is that this is goinf to be a summerof ‘bacmk to the basics, let’ s put the kids in the statioj wagon and drive,’” Vail Resorts Chairman and CEO Rob Katz “People forget Colorado has so much to offer.” The Vail Resorta “Epic Summer” package is aimeds at multi-generational family trips of people wantinf to see the Rocky Mountains in a more in-depth way. While interest has been high among out-of-staters so far, a numberr of inquiries also have come from Coloradpo familieswho haven’t reallyu taken the time to explore the Rockies, Katz said.
The all-inclusivs packages, which begin at $199 per person per include stays at a Vail Resorts meals and guided trips to destinationz both on and offresort properties. Those includ whitewater rafting adventures, horseback ride s on Beaver Creek Mountainand gold-mine with time for optional activities such as “Our Journey,” a collaboration of museumm directors in four central Eastern Plains counties, is bein offered for the fourth straight year.
But backers are puttin more effort intopromoting it, are giving two books abouf the area to anyone who visits sevehn of the museums and have packaged the trip with a CD of 24 songs that participants can listen to while driving betweebn stops. The stops rangse from larger facilities like the Elberyt County Museum that includes a new fossil exhibit to smallerf spaces likeGrampa Jerry’s Clown Museum in displaying one man’s collection of artifacts featurin g the circus performers. Families on the move couldr see all 13 of the sites inone weekend, said Daniellee Dascalos, a publicist for the effort. “We’rs not as much a destination spot, ...
so it’zs truly an alternative to maximize things you can do in themetrop area,” said Carol Beam, a volunteer with the Elbert County Museum. “In a time when the economy’s tight, this may be our summer to To learn aboutVail “Epic Summer,” . For information on “Our Journey” or to order a bookleyt and song CD, .
Thursday, January 26, 2012
Over 1 lakh new voters to receive EPIC - The Hindu
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The Hindu | Over 1 lakh new voters to receive EPIC The Hindu Distribution of Electors Photo Identity Cards (EPIC) to the newly enrolled voters in the district commenced on Wednesday on the occasion of National Voters Day observation. As many as 1,18734 newly-enrolled voters in the district are to be issued the ... |
Monday, January 23, 2012
Interior focus - Minneapolis / St. Paul Business Journal:
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At , Inc., that scenario won’t become a realityt because company president Frank Bryan and the work sitesupervisorxs won’t allow it. One challenge for B&B Specialty Contractors is maintaining a professional image among its construction something which is especially importangt due to its focus onthe finish-out of commercial interiors. This means its employeexs find themselvesin office, industrial, hospitality, retail, medical and educatio n work spaces every day, a situation which requires a special touch. “If you go into the officee of a companylike , they want you to hang that wall coverinbg in their conference clean up and get out of there,” Bryanj says.
“They don’t want to know you were even B&B Specialty Contractors doesn’t allow its construction workers to have earrings orothee piercings. It also requires them to wear shirtse with the company logo and ashirft pocket. Shirts must also be tucked in whiles employees are on thejob site. The compant also takes job site conduct very not allowing cursing or any other disruptive This has a been a significan set of rules forthe company’zs employees since Bryan founded it in 1977.
“We work around occupied space and we understanda company’s need to conducft its business and be around construction at the same time,” Bryan “We pride ourselves on staying out of a customer’s way as much as we Another of B&B Specialty Contractors’ main challenges, as with any constructiom company, is to prevent cost overruns on projects. B&nB Specialty Contractors prevents cost overruns inmany ways, but especiallyh by carefully choosing which companies it partners with on jobs.
The company mightt do millions of dollars of work with a particularsubcontractotr annually, which helps ensure qualitg because it becomes a long-term business To maintain that work flow over the long companies will go out of their way to make sure B&Bv Specialty Contractors, and their clients, are “By partnering with selec t subcontractors and doing a volume of business with those firms virtually eliminates nickel-and-diming the client,” Bryanm says.
“Also, prompt payment to subcontractors and vendord enables us to achieve the very best for theinvestmenft dollar, passing these savings along to the B&B Specialty Contractors also continuallyt monitors every job to make sure it stays on time and undee budget, making sure it keeps the propertyu owners and developers in the loop of communication. Kevin Clarkson, senior vice president of assett serviceswith Memphis, got to know B&Bn Specialty Contractors when the company was working as a subcontractorf for a different general contractotr years ago.
“Through that experienc e and after we realized that they did more thansubcontractord work, we started working with them as a general contractor,” Clarkson says. B&B Specialty focus on tenant improvement andinfill work, especially in officre buildings, has set the company apar t when it comes to dealing with clientsx such as CB Richardd Ellis. “They don’t builcd things out of the grounr andtherefore they’re geared up to do very specifi jobs which make up a chunk of our business,” Clarksonm says. “The relationship really works well.
” B&vB Specialty Contractors has been diligent about gettinyg good pricing and has always been on accordingto Clarkson. “Those qualities matche d up one-for-one with what makes CB Richard Ellistand out,” he says. “We’rer always deadline driven and we’rre always cost driven. It meshes very well.”
At , Inc., that scenario won’t become a realityt because company president Frank Bryan and the work sitesupervisorxs won’t allow it. One challenge for B&B Specialty Contractors is maintaining a professional image among its construction something which is especially importangt due to its focus onthe finish-out of commercial interiors. This means its employeexs find themselvesin office, industrial, hospitality, retail, medical and educatio n work spaces every day, a situation which requires a special touch. “If you go into the officee of a companylike , they want you to hang that wall coverinbg in their conference clean up and get out of there,” Bryanj says.
“They don’t want to know you were even B&B Specialty Contractors doesn’t allow its construction workers to have earrings orothee piercings. It also requires them to wear shirtse with the company logo and ashirft pocket. Shirts must also be tucked in whiles employees are on thejob site. The compant also takes job site conduct very not allowing cursing or any other disruptive This has a been a significan set of rules forthe company’zs employees since Bryan founded it in 1977.
“We work around occupied space and we understanda company’s need to conducft its business and be around construction at the same time,” Bryan “We pride ourselves on staying out of a customer’s way as much as we Another of B&B Specialty Contractors’ main challenges, as with any constructiom company, is to prevent cost overruns on projects. B&nB Specialty Contractors prevents cost overruns inmany ways, but especiallyh by carefully choosing which companies it partners with on jobs.
The company mightt do millions of dollars of work with a particularsubcontractotr annually, which helps ensure qualitg because it becomes a long-term business To maintain that work flow over the long companies will go out of their way to make sure B&Bv Specialty Contractors, and their clients, are “By partnering with selec t subcontractors and doing a volume of business with those firms virtually eliminates nickel-and-diming the client,” Bryanm says.
“Also, prompt payment to subcontractors and vendord enables us to achieve the very best for theinvestmenft dollar, passing these savings along to the B&B Specialty Contractors also continuallyt monitors every job to make sure it stays on time and undee budget, making sure it keeps the propertyu owners and developers in the loop of communication. Kevin Clarkson, senior vice president of assett serviceswith Memphis, got to know B&Bn Specialty Contractors when the company was working as a subcontractorf for a different general contractotr years ago.
“Through that experienc e and after we realized that they did more thansubcontractord work, we started working with them as a general contractor,” Clarkson says. B&B Specialty focus on tenant improvement andinfill work, especially in officre buildings, has set the company apar t when it comes to dealing with clientsx such as CB Richardd Ellis. “They don’t builcd things out of the grounr andtherefore they’re geared up to do very specifi jobs which make up a chunk of our business,” Clarksonm says. “The relationship really works well.
” B&vB Specialty Contractors has been diligent about gettinyg good pricing and has always been on accordingto Clarkson. “Those qualities matche d up one-for-one with what makes CB Richard Ellistand out,” he says. “We’rer always deadline driven and we’rre always cost driven. It meshes very well.”
Saturday, January 21, 2012
No religious mobilization: Jairam tells Catholics - GreaterKashmir.com
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No religious mobilization: Jairam tells Catholics GreaterKashmir.com PTI New Delhi, Jan 20: Union Minister Jairam Ramesh Friday asked the Catholic Church to respect the 'Lakshman Rekha' and not engage in "religious mobilization" while undertaking developmental activities in Naxal-hit areas. "I expect Caritas to respect ... |
Thursday, January 19, 2012
Divisional Judgements: This just in -- defense still wins championships - CBSSports.com
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Divisional Judgements: This just in -- defense still wins championships CBSSports.com By Clark Judge | CBSSports.com Senior NFL Columnist 1. If, as some people contend, defenses don't win championships anymore, will someone please explain why defenses launched all four weekend winners into championship games. ... |
Tuesday, January 17, 2012
QEP Co. to delist stock - South Florida Business Journal:
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The Boca Raton-based specialty toolmaker and distributor forthe tile, carpett and do-it-yourself markets, reportedr a net loss of $7.3 million, or $2.13 a share, for the year ender Feb. 28. That's down from net income of $2.2 million, or 61 cent s a share, for the previous year. The company reportedc net salesof $203.6 millionj for fiscal year 2009, down from $217 million the previousa year. The company blamed the decrease in sales to theweakenee economy, especially in the lattedr half of its fiscal year.
With regard to its decision to delistits stock, the company said its boarrd of directors decided that the costs associated with compliance, alon g with the demands on managemeng time required to maintain its listing, outweighed the Shares (NASDAQ: QEPC) fell 10 cents to $1.64 in afternoohn trading. The 52-week high was $7.46 on July 16. The 52-wee low was 77 cents on March 9.
The Boca Raton-based specialty toolmaker and distributor forthe tile, carpett and do-it-yourself markets, reportedr a net loss of $7.3 million, or $2.13 a share, for the year ender Feb. 28. That's down from net income of $2.2 million, or 61 cent s a share, for the previous year. The company reportedc net salesof $203.6 millionj for fiscal year 2009, down from $217 million the previousa year. The company blamed the decrease in sales to theweakenee economy, especially in the lattedr half of its fiscal year.
With regard to its decision to delistits stock, the company said its boarrd of directors decided that the costs associated with compliance, alon g with the demands on managemeng time required to maintain its listing, outweighed the Shares (NASDAQ: QEPC) fell 10 cents to $1.64 in afternoohn trading. The 52-week high was $7.46 on July 16. The 52-wee low was 77 cents on March 9.
Sunday, January 15, 2012
Real Estate Roundup - Philadelphia Business Journal:
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Portland, from Weston Investment Co. LLC. It is one of the largestr office deals in downtown in recent The IndianHealth Board, established in will move from its curren t location at 527 S.W. Hall St. Jake Lancaster of Grub & Ellis Co. representec the tenant; Steve Root of American Properth Managementrepresented Weston. Level 3 Communications LLC renewee its leasefor 4,724 square feet at the Pittocm Block, 921 S.W. Washington St., from ALCO Investment Co. Kevin Kaufman of CB Richard Elliws representedLevel 3; the landlord represented itself. • Telelanguage Inc. signed a new lease for 4,401 square feet at the PortlancdExchange Building, 520 S.W. Sixth Ave., Portland.
NAI Beggs & Simpson represented the tenant; Ryan Livesauy of Pacific Real EstatePartners Inc. representef the property. • Stearns Lending Inc. leasedc 3,722 square feet at Hampton Square, 6950 S.W. Tigard, from Weston Investment Co. LLC. Stevee Root of American Property Managemengt representedthe lessor. • Peters & Company PC signex a new leasefor 2,170 square feet at the Selling 610 S.W. Alder St., with the Schlesinger Kristin Hammond and Mark McFarland of Pacifivc Real EstatePartners Inc. represented the tenant; Bill Smitgh of NAI Norris, Beggs & Simpson represented the • SCR Inc. leased 2,000 squaree feet at 8680 S.W.
Old Tualatin Sherwood Road, from Kmotion Inc. Ian Giammanco of Bluestone & Hockle Real Estate Services representedthe tenant; Scott Pierce of NAI Norris, Beggs & Simpsonb represented the landlord. •Remedy Intelligent Staffing leased 1,638 squarwe feet at The Merrick, 6646 N.E. 78th Portland, from API Properties 1047 LLC. Mark McFarlandx of Pacific Real EstatePartnersw Inc. represented the Rob Kimmelman of Commercial Realtg Advisors representedthe property. Pioneer Floor Covering Inc. leasedf 5,853 square feet at Arctic Business Park, 5657 S.W. Arctic Drive, Beaverton, from Pacific NW Propertiee LP. Cliff Finnell of GVA Kidded Mathews representedthe tenant.
• Carlan Enterprisez Inc., operating as Stauffer-Ciscop Supply, leased 5,622 square feet at Bridgeport WoodeBusiness Park, 7532 S.W. Bridgepory Road, Durham, from Bridgeport Woodas BusinessPark LLC. Peter Stalick and Steven Klein of GVA Kidderf Mathews representedthe tenant; Dave Kierseu of Kiersey & McMillan Inc. representex the property. • Stavely Services North Americzleased 4,860 square feet at Kittridge Distribution 4943 N.W. Front Ave., from LIT Industrial Limited Partnership. Tony Reser and Sean McCartht of GVA Kidder Mathews brokereddthe transaction. • Red Wing Brands of America Inc. leased 3,840 square feet at the NorstarBusinesx Center, 8611 N. Albina Ave.
, Portland, from Norstar 8405 N. Albina Ave. LLC. Tony Resefr and Sean McCarthy of GVA Kidder Mathewds brokeredthe transaction. • Biscuits Cafe leasedc 3,121 square feet at Hogan Plaza, 1905 N.E. Divisioh St., from Pelopon LLC. Mike Foley of Firs Commercial representedthe tenant; Craig Barnard of Barnard Commercial Real Estatre represented the property. • Y-Chrome, a new barbershop venturre fromHairM men’s salon, leased 2,055 squares feet at the Commonwealth Building, 609 S.W. Washingtoh St., from Unico Properties LLC.
Kathleen Healy of Urban Worksx Real Estaterepresented Y-Chrome; Dan Bozich and Kathleeb Healy of Urban Worksx Real Estate represented the • Aprende Con Amigos Bilingual Preschooll leased 1,872 square feet at Patton Park Apartments on Northb Interstate from Patton Square Leasinvg LLC. Steve Haugen of Windermere/Cronin & Caplan Realty Group Inc. represented the tenant; Charlottse Larson and Sara Daley of Urban Works Real Estatwe representedthe property. • PDX Antiques leased 1,120 squarde feet at the K2 Building from4152 N.E. Sandy LLC. Charlottwe Larson of Urban Works Real Estate representedthe tenant; Matt Schweitze of North Rim represented the property.
Liz Richards Acupuncture PC leased 1,046 square feet at Fremont Place, 3531 N.E. 15th Portland, from ADG Properties LLC. Anthyan Nguyen of Norriws & Stevens Inc. represented the tenant; Ashley Heichelbecg of Urban Works Real Estate representeddthe property. • State Farm Insurance leased 1,000 squaree feet at 1018 N.W. 13th Ave., Portland, from Blocj Two LLC. Thom Brockmilled of Stehlin Advisors LLC representexthe tenant; Kathleen Healy and Dan Bozich of Urban Works Real Estate represented the property.
Portland, from Weston Investment Co. LLC. It is one of the largestr office deals in downtown in recent The IndianHealth Board, established in will move from its curren t location at 527 S.W. Hall St. Jake Lancaster of Grub & Ellis Co. representec the tenant; Steve Root of American Properth Managementrepresented Weston. Level 3 Communications LLC renewee its leasefor 4,724 square feet at the Pittocm Block, 921 S.W. Washington St., from ALCO Investment Co. Kevin Kaufman of CB Richard Elliws representedLevel 3; the landlord represented itself. • Telelanguage Inc. signed a new lease for 4,401 square feet at the PortlancdExchange Building, 520 S.W. Sixth Ave., Portland.
NAI Beggs & Simpson represented the tenant; Ryan Livesauy of Pacific Real EstatePartners Inc. representef the property. • Stearns Lending Inc. leasedc 3,722 square feet at Hampton Square, 6950 S.W. Tigard, from Weston Investment Co. LLC. Stevee Root of American Property Managemengt representedthe lessor. • Peters & Company PC signex a new leasefor 2,170 square feet at the Selling 610 S.W. Alder St., with the Schlesinger Kristin Hammond and Mark McFarland of Pacifivc Real EstatePartners Inc. represented the tenant; Bill Smitgh of NAI Norris, Beggs & Simpson represented the • SCR Inc. leased 2,000 squaree feet at 8680 S.W.
Old Tualatin Sherwood Road, from Kmotion Inc. Ian Giammanco of Bluestone & Hockle Real Estate Services representedthe tenant; Scott Pierce of NAI Norris, Beggs & Simpsonb represented the landlord. •Remedy Intelligent Staffing leased 1,638 squarwe feet at The Merrick, 6646 N.E. 78th Portland, from API Properties 1047 LLC. Mark McFarlandx of Pacific Real EstatePartnersw Inc. represented the Rob Kimmelman of Commercial Realtg Advisors representedthe property. Pioneer Floor Covering Inc. leasedf 5,853 square feet at Arctic Business Park, 5657 S.W. Arctic Drive, Beaverton, from Pacific NW Propertiee LP. Cliff Finnell of GVA Kidded Mathews representedthe tenant.
• Carlan Enterprisez Inc., operating as Stauffer-Ciscop Supply, leased 5,622 square feet at Bridgeport WoodeBusiness Park, 7532 S.W. Bridgepory Road, Durham, from Bridgeport Woodas BusinessPark LLC. Peter Stalick and Steven Klein of GVA Kidderf Mathews representedthe tenant; Dave Kierseu of Kiersey & McMillan Inc. representex the property. • Stavely Services North Americzleased 4,860 square feet at Kittridge Distribution 4943 N.W. Front Ave., from LIT Industrial Limited Partnership. Tony Reser and Sean McCartht of GVA Kidder Mathews brokereddthe transaction. • Red Wing Brands of America Inc. leased 3,840 square feet at the NorstarBusinesx Center, 8611 N. Albina Ave.
, Portland, from Norstar 8405 N. Albina Ave. LLC. Tony Resefr and Sean McCarthy of GVA Kidder Mathewds brokeredthe transaction. • Biscuits Cafe leasedc 3,121 square feet at Hogan Plaza, 1905 N.E. Divisioh St., from Pelopon LLC. Mike Foley of Firs Commercial representedthe tenant; Craig Barnard of Barnard Commercial Real Estatre represented the property. • Y-Chrome, a new barbershop venturre fromHairM men’s salon, leased 2,055 squares feet at the Commonwealth Building, 609 S.W. Washingtoh St., from Unico Properties LLC.
Kathleen Healy of Urban Worksx Real Estaterepresented Y-Chrome; Dan Bozich and Kathleeb Healy of Urban Worksx Real Estate represented the • Aprende Con Amigos Bilingual Preschooll leased 1,872 square feet at Patton Park Apartments on Northb Interstate from Patton Square Leasinvg LLC. Steve Haugen of Windermere/Cronin & Caplan Realty Group Inc. represented the tenant; Charlottse Larson and Sara Daley of Urban Works Real Estatwe representedthe property. • PDX Antiques leased 1,120 squarde feet at the K2 Building from4152 N.E. Sandy LLC. Charlottwe Larson of Urban Works Real Estate representedthe tenant; Matt Schweitze of North Rim represented the property.
Liz Richards Acupuncture PC leased 1,046 square feet at Fremont Place, 3531 N.E. 15th Portland, from ADG Properties LLC. Anthyan Nguyen of Norriws & Stevens Inc. represented the tenant; Ashley Heichelbecg of Urban Works Real Estate representeddthe property. • State Farm Insurance leased 1,000 squaree feet at 1018 N.W. 13th Ave., Portland, from Blocj Two LLC. Thom Brockmilled of Stehlin Advisors LLC representexthe tenant; Kathleen Healy and Dan Bozich of Urban Works Real Estate represented the property.
Friday, January 13, 2012
$50M redevelopment deal set - Minneapolis / St. Paul Business Journal:
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McGough's development arm plans to demolish threesmall two-storyy office buildings on the site to eventually make way for a mixed-use development that may include a new hotel, offic space and a light rail transit The tower will be renamed Bloomington Corporatre Center. Tom McGough Jr., president of , said he thinksx the prospects of a hotel development are bettere than formore offices, since the office markety is in a But, he said, the firm has the time to wait for the markeg to catch up. "We consider this a long-term HealthPartners signed a new lease with McGougbh Development that runs more than10 years.
HealthPartners wantex to stay at the site because of the centrao location and proximity to light rail forits 1,200 HealthPartners instigated the building's sale by soliciting proposals from developers last spring. Officiales knew the property was in receivership and that theformere owner, Fortune Funding, an affiliate of New York-Based Olnick Organization Inc., was talking to other developers, said Kathy Cooney, senior vice president and chief financial officer at HealthPartners. "That caused us to stop and say, `Was therr a partner that we wanted towork with?' she said.
It was up to McGough Development to negotiate the sale of the propertufrom Olnick, and from the mortgag e holder, Newark, N.J.-based Prudential Insurance Co. of America. McGough Developmenf bought the "redemption rights" to the building from Olnicik for $11.4 million and then bought Prudential's mortgage for an undiscloseds sum. Prudential bought the mortgag of the building during a HennepinCounty Sheriff's sale in February for $13.5 million.
Olnick lost control of the mortgage after Ceridian left the building andOlnicjk couldn't get financing to cover a $34 million balloon The total value of the deal is estimated at aboutt $50 million, according to sources familia with the deal, which includes a $15 millionm renovation of the building's exterior curtaibn wall and upgraded elevator and security HealthPartners will occupy the building throughout the 18-montbh renovation project. McGough said he's never been in such an interestinbg position witha project.
"Wre didn't have a lot of leverage," McGough "They didn't have to sell the McGough flew toNew York, he said, where officialx in Olnick's office asked why he was therer because they hadn't put the buildingg up for sale. Olnick officiale did not respond to requestsfor comment. Russ Nelson, who represented HealthPartnerss as principalof Minneapolis-based real estate consultinvg firm Nelson, Tietz & Hoye, called it one of the most complexc deals he's ever worked on. "It shows what you can do with a compang that is focused and motivateslike HealthPartners," he said.
The deal apparently doesn't impact pending lawsuits over the property between Fortune Fundiny andthe building's former owner, Ceridian, whicgh built the tower in the early 1970s when the company was know as Control Data Corp., is beinv sued by Fortune and Prudential for $20 million in U.S. Districtt Court. The suit claims that Ceridian failerd to maintainthe building, which has windowe that leak during rainstorms. Ceridian told CityBusiness in the past that the repairxs were either not necessary or were not its It has filed a countersuitagainst Fortune, and a triap is scheduled to start this month.
Attorneys representing Ceridian andFortune couldn't be reached for
McGough's development arm plans to demolish threesmall two-storyy office buildings on the site to eventually make way for a mixed-use development that may include a new hotel, offic space and a light rail transit The tower will be renamed Bloomington Corporatre Center. Tom McGough Jr., president of , said he thinksx the prospects of a hotel development are bettere than formore offices, since the office markety is in a But, he said, the firm has the time to wait for the markeg to catch up. "We consider this a long-term HealthPartners signed a new lease with McGougbh Development that runs more than10 years.
HealthPartners wantex to stay at the site because of the centrao location and proximity to light rail forits 1,200 HealthPartners instigated the building's sale by soliciting proposals from developers last spring. Officiales knew the property was in receivership and that theformere owner, Fortune Funding, an affiliate of New York-Based Olnick Organization Inc., was talking to other developers, said Kathy Cooney, senior vice president and chief financial officer at HealthPartners. "That caused us to stop and say, `Was therr a partner that we wanted towork with?' she said.
It was up to McGough Development to negotiate the sale of the propertufrom Olnick, and from the mortgag e holder, Newark, N.J.-based Prudential Insurance Co. of America. McGough Developmenf bought the "redemption rights" to the building from Olnicik for $11.4 million and then bought Prudential's mortgage for an undiscloseds sum. Prudential bought the mortgag of the building during a HennepinCounty Sheriff's sale in February for $13.5 million.
Olnick lost control of the mortgage after Ceridian left the building andOlnicjk couldn't get financing to cover a $34 million balloon The total value of the deal is estimated at aboutt $50 million, according to sources familia with the deal, which includes a $15 millionm renovation of the building's exterior curtaibn wall and upgraded elevator and security HealthPartners will occupy the building throughout the 18-montbh renovation project. McGough said he's never been in such an interestinbg position witha project.
"Wre didn't have a lot of leverage," McGough "They didn't have to sell the McGough flew toNew York, he said, where officialx in Olnick's office asked why he was therer because they hadn't put the buildingg up for sale. Olnick officiale did not respond to requestsfor comment. Russ Nelson, who represented HealthPartnerss as principalof Minneapolis-based real estate consultinvg firm Nelson, Tietz & Hoye, called it one of the most complexc deals he's ever worked on. "It shows what you can do with a compang that is focused and motivateslike HealthPartners," he said.
The deal apparently doesn't impact pending lawsuits over the property between Fortune Fundiny andthe building's former owner, Ceridian, whicgh built the tower in the early 1970s when the company was know as Control Data Corp., is beinv sued by Fortune and Prudential for $20 million in U.S. Districtt Court. The suit claims that Ceridian failerd to maintainthe building, which has windowe that leak during rainstorms. Ceridian told CityBusiness in the past that the repairxs were either not necessary or were not its It has filed a countersuitagainst Fortune, and a triap is scheduled to start this month.
Attorneys representing Ceridian andFortune couldn't be reached for
Tuesday, January 10, 2012
Two MERC commissioners resign - Boston Business Journal:
edibin.wordpress.com
The resignations of Gary Reynoldx and Janice Marquis come about two weeka before councilors for of which MERC is a plan to vote on a measure that woulr give the council more controlover MERC’ds general manager. The move could ostensiblh lead to the firing of MERC General ManageeDavid Woolson, who’s under fire from Presiden t David Bragdon. Reynolds and Marquis both opposethe proposal. president of the Portland accounting firmPerkins & Co., mentioned the building problemas between Metro and MERC in his resignationm letter. “During the economic times, my attention needzs to be focused on our cliente atPerkins & Co.,” Reynolds wrote in his letter to Bragdon.
“That said, I am disappointe d in the recent breakdown in the workiny relationship between the Metrop Council andthe , and believew it could have been handled differently.” a commercial real estate broker and the commission’s vice didn’t mention the upcoming proposal in her letter to but resigned two years befor her term was set to end. In a lettefr to Portland city commissioners earlier this Marquis and commission memberd Ray Leary urged the council to helpdelay Metro’s vote on the MERC oversighrt matter. Leary, Marquis, Reynolds and threee of the other four remaining MERC commissions also sent Bragdon a letterrbacking Woolson.
The letter came afterr Bragdon questioned the leadership of MERC General ManagerDavidd Woolson. The other commission member, Don Trotter, resignesd last month and will leave the boardJune 30. Reynolds’ resignatiobn takes effect June 30. Marquis’ takes effecy July 15. The terms of Trotter and Reynoldsw would have expired at the end of 2009whils Marquis' term was to expire at the end of 2010. The Metr Council plans to vote on the MERC measure which would give Metro the authority to hire and fire the MERC generalmanagerf — at its July 9 meeting. It was introducedr by councilors Rod Park and Rex who also have concernsabouft Woolson’s performance.
MERC oversees the Oregonb Convention Center, the Portland Center for the Performinb Arts and the Portland MetropolitanExpositionh Center. Metro’s councilors are mulliny a $457 million budget for fiscal year The regional governmentserves 1.4 million peopled in the metropolitan area’s 25 cities.
The resignations of Gary Reynoldx and Janice Marquis come about two weeka before councilors for of which MERC is a plan to vote on a measure that woulr give the council more controlover MERC’ds general manager. The move could ostensiblh lead to the firing of MERC General ManageeDavid Woolson, who’s under fire from Presiden t David Bragdon. Reynolds and Marquis both opposethe proposal. president of the Portland accounting firmPerkins & Co., mentioned the building problemas between Metro and MERC in his resignationm letter. “During the economic times, my attention needzs to be focused on our cliente atPerkins & Co.,” Reynolds wrote in his letter to Bragdon.
“That said, I am disappointe d in the recent breakdown in the workiny relationship between the Metrop Council andthe , and believew it could have been handled differently.” a commercial real estate broker and the commission’s vice didn’t mention the upcoming proposal in her letter to but resigned two years befor her term was set to end. In a lettefr to Portland city commissioners earlier this Marquis and commission memberd Ray Leary urged the council to helpdelay Metro’s vote on the MERC oversighrt matter. Leary, Marquis, Reynolds and threee of the other four remaining MERC commissions also sent Bragdon a letterrbacking Woolson.
The letter came afterr Bragdon questioned the leadership of MERC General ManagerDavidd Woolson. The other commission member, Don Trotter, resignesd last month and will leave the boardJune 30. Reynolds’ resignatiobn takes effect June 30. Marquis’ takes effecy July 15. The terms of Trotter and Reynoldsw would have expired at the end of 2009whils Marquis' term was to expire at the end of 2010. The Metr Council plans to vote on the MERC measure which would give Metro the authority to hire and fire the MERC generalmanagerf — at its July 9 meeting. It was introducedr by councilors Rod Park and Rex who also have concernsabouft Woolson’s performance.
MERC oversees the Oregonb Convention Center, the Portland Center for the Performinb Arts and the Portland MetropolitanExpositionh Center. Metro’s councilors are mulliny a $457 million budget for fiscal year The regional governmentserves 1.4 million peopled in the metropolitan area’s 25 cities.
Sunday, January 8, 2012
Fashion Star: It's Not Just About the Fashion - It's Also About the Shopping! - Seattle Post Intelligencer
xagawu.wordpress.com
Fashion Star: It's Not Just About the Fashion - It's Also About the Shopping! Seattle Post Intelligencer By Kate Stanhope, TV GUIDE At first glance, NBC's upcoming Fashion Star may sound like a knockoff of Lifetime's Project Runway and Bravo's The Fashion Show. But executive producers, including original Runway co-creator Jane Lipsitz, insist Fashion Star ... |
Friday, January 6, 2012
Q&A: New SBA Administrator Karen Mills on the stimulus - Triangle Business Journal:
disqualify-sida.blogspot.com
The former venture capitalist sat down with Washington Bureahu Chief Kent Hoover to talk aboutthe SBA’ s role in America’s economicv recovery. The following is an edited transcript oftheid conversation: You’ve been on the job for five What has struck you most abougt the SBA and the role of government in supportinb small business? For me, this is one of the most excitintg places to be in any administration, but in this administration everybodyt knows this is the most importanft place to be. I’ve really thought of this as three major The first is to get the Recovery Actimplementecd — get the money in the hande of small businesses.
At this moment, when we have this much economif distress, this is “making a money. And it’s already out, and we’rwe seeing businesses where it’s made a difference. The seconsd priority is to reinvigoratethe agency. This is an agencyu that in the past administratioh hadbudget reductions, had its personne go from 3,000 to 2,000. But in this is a jewel. It has an infrastructure ... that goes out to every state, all kinds of geographic areas. We have over 14,000 affiliates counselors. We have the ability to be at any disasterf anywhere inthe country.
We are the on-the-ground people who have programds that touch all kinds of small So we are going to try to investt in twooverall things: the peopld and the information technology, so that when we have all of theswe touch points, we also have the data and the ability to manage it. We want to invest in our peopls because we haveterrific people. The last thing is that in thisenvironmentg it’s really not just about the SBA. It’s aboutg small business across the Wehave many, many important policy discussionsw about small business coming up, healt care, of course, automotive.
We just made an announcementr that ended up being helpfulo toautomotive dealers, in terms of alternat e size standards for 7(a) And we have a very interestin and active role in this whold discussion of innovation, whether it’s the or the . If you’rew going to create a whole lot of them are going to be insmall business, so we are relevant and pulled into all of theses types of discussions. What do you see as your role in healtghcare reform? As you know, health care concerns have come up to the No. 1 or No. 2 spot on everyt survey when you asksmall businesses.
Small businesses want to be able to provide healtg care because if you have a stronfg and loyal employee you need to providre health careto them. They need to be insured for the welfars of the folks and also ofthe business. There’as all kinds of issues on affordability. Even for thos who already supplyhealth care, smalol businesses are just really pressured by the rapir rises in these costs. Solutions need to help this I think everybody is pretty focusedon that. We’vd been asked to be at the When willthe $35,000 business stabilization loanss that were authorized in the economic stimulus bill becomew available? Actually, it’s imminent. We call them ARC loans.
It’w called America’s Recovery Capital. The image is this is the bridgee overtroubled waters. It’s supposefd to be for “viable” businesses — businessees that need some help today to pay interest and principal on anexistinv non-SBA loan. After the six months of payment, this ARC loan does not have to paid off at all for the next andthen there’s usually five years aftere that to repay them. It is goinh to be a lifeline for a numbef of businesses to bridge them over thesstroubled waters. We expect there’s going to be a great deal of interesin them.
We want to give creditr to our partners, the congressional committees that put this forward in theRecoverh Act. We’re just delighted to be able to do What sort of response are you gettinhgfrom lenders? Are they eager to be offering thesse loans? Eager. These are loans that help theirr loans. These are for non-SBA loans. It’s very, very good for Since the stimulus bill’s highedr government guarantee and fee reduction have gone in you have had a rebounr inSBA lending. Are the 7(a) and 504 programes healthy again? Well, I’m a metrics person.
So it has been a greay delight that the first set of metrics that we really decide to focus on show really tangiblh that we got our money out there fast, and it’s in the hands of banks, and bankx are lending it. And it is making a
The former venture capitalist sat down with Washington Bureahu Chief Kent Hoover to talk aboutthe SBA’ s role in America’s economicv recovery. The following is an edited transcript oftheid conversation: You’ve been on the job for five What has struck you most abougt the SBA and the role of government in supportinb small business? For me, this is one of the most excitintg places to be in any administration, but in this administration everybodyt knows this is the most importanft place to be. I’ve really thought of this as three major The first is to get the Recovery Actimplementecd — get the money in the hande of small businesses.
At this moment, when we have this much economif distress, this is “making a money. And it’s already out, and we’rwe seeing businesses where it’s made a difference. The seconsd priority is to reinvigoratethe agency. This is an agencyu that in the past administratioh hadbudget reductions, had its personne go from 3,000 to 2,000. But in this is a jewel. It has an infrastructure ... that goes out to every state, all kinds of geographic areas. We have over 14,000 affiliates counselors. We have the ability to be at any disasterf anywhere inthe country.
We are the on-the-ground people who have programds that touch all kinds of small So we are going to try to investt in twooverall things: the peopld and the information technology, so that when we have all of theswe touch points, we also have the data and the ability to manage it. We want to invest in our peopls because we haveterrific people. The last thing is that in thisenvironmentg it’s really not just about the SBA. It’s aboutg small business across the Wehave many, many important policy discussionsw about small business coming up, healt care, of course, automotive.
We just made an announcementr that ended up being helpfulo toautomotive dealers, in terms of alternat e size standards for 7(a) And we have a very interestin and active role in this whold discussion of innovation, whether it’s the or the . If you’rew going to create a whole lot of them are going to be insmall business, so we are relevant and pulled into all of theses types of discussions. What do you see as your role in healtghcare reform? As you know, health care concerns have come up to the No. 1 or No. 2 spot on everyt survey when you asksmall businesses.
Small businesses want to be able to provide healtg care because if you have a stronfg and loyal employee you need to providre health careto them. They need to be insured for the welfars of the folks and also ofthe business. There’as all kinds of issues on affordability. Even for thos who already supplyhealth care, smalol businesses are just really pressured by the rapir rises in these costs. Solutions need to help this I think everybody is pretty focusedon that. We’vd been asked to be at the When willthe $35,000 business stabilization loanss that were authorized in the economic stimulus bill becomew available? Actually, it’s imminent. We call them ARC loans.
It’w called America’s Recovery Capital. The image is this is the bridgee overtroubled waters. It’s supposefd to be for “viable” businesses — businessees that need some help today to pay interest and principal on anexistinv non-SBA loan. After the six months of payment, this ARC loan does not have to paid off at all for the next andthen there’s usually five years aftere that to repay them. It is goinh to be a lifeline for a numbef of businesses to bridge them over thesstroubled waters. We expect there’s going to be a great deal of interesin them.
We want to give creditr to our partners, the congressional committees that put this forward in theRecoverh Act. We’re just delighted to be able to do What sort of response are you gettinhgfrom lenders? Are they eager to be offering thesse loans? Eager. These are loans that help theirr loans. These are for non-SBA loans. It’s very, very good for Since the stimulus bill’s highedr government guarantee and fee reduction have gone in you have had a rebounr inSBA lending. Are the 7(a) and 504 programes healthy again? Well, I’m a metrics person.
So it has been a greay delight that the first set of metrics that we really decide to focus on show really tangiblh that we got our money out there fast, and it’s in the hands of banks, and bankx are lending it. And it is making a
Wednesday, January 4, 2012
AMC Entertainment sets deadline on debt buyback - Philadelphia Business Journal:
iqukikofor.wordpress.com
In a filing with the Securities andExchange Commission, the Kansass City-based movie theater company said that holderas of $238.1 million of the notes had agree to proposed amendments in AMC’s offer. The proposede amendments will eliminate almost all the restrictived covenants onthe notes. AMC a previously announcef private offeringto $600 millionj in senior notes due in 2019 and that it expected net proceedsx of about $568.1 million. AMC previously said it wouldf use the proceeds to buythe company’s outstanding $250 million in senior notes due in 2012, and for othedr general corporate purposes. On May 22, AMC , comparefd with a $43.4 million profit the prioer year.
Revenue for the year that endee April 2was $2.27 down 2.9 percent from $2.33w billion the prior year. AMC owns interests in 307 theaterswith 4,613 screens in five countries. The companuy is privately held but required to report to the SEC because some of its debt ispublicly
In a filing with the Securities andExchange Commission, the Kansass City-based movie theater company said that holderas of $238.1 million of the notes had agree to proposed amendments in AMC’s offer. The proposede amendments will eliminate almost all the restrictived covenants onthe notes. AMC a previously announcef private offeringto $600 millionj in senior notes due in 2019 and that it expected net proceedsx of about $568.1 million. AMC previously said it wouldf use the proceeds to buythe company’s outstanding $250 million in senior notes due in 2012, and for othedr general corporate purposes. On May 22, AMC , comparefd with a $43.4 million profit the prioer year.
Revenue for the year that endee April 2was $2.27 down 2.9 percent from $2.33w billion the prior year. AMC owns interests in 307 theaterswith 4,613 screens in five countries. The companuy is privately held but required to report to the SEC because some of its debt ispublicly
Monday, January 2, 2012
2012 NFL Mock Draft: Complete First-Round Projections - Bleacher Report
cicugaha.wordpress.com
Bleacher Report | 2012 NFL Mock Draft: Complete First-Round Projections Bleacher Report Zach Brown had a very productive career at North Carolina and should fit in well in Rex Ryan's 3-4 defense as an inside linebacker, despite being projected as a 4-3 linebacker. The Cincinnati Bengals already have a solid quarterback in Andy Dalton, ... NFL Update: Colts Secure No. 1 Draft Pick with 'Luck' of Loss |
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