วันจันทร์ที่ 30 พฤษภาคม พ.ศ. 2554
SoftBrands sold for $80M; Golden Gate Capital is buyer - Denver Business Journal:
The buyer, a holding company created by private-equity firm and its portfolip company , will pay 92 cents per sharde for SoftBrands. Shares of SoftBrandsd closed at 47 cents per share on On the same datein 2008, stock closed at 1.09 per share. San Francisco, Calif.-baseed Golden Gate Capital hasabout $9 billion in assete under management. Infor, based in Alpharetta, Ga., is a software companhy with about 9,000 employees and $2.2 billion in Minneapolis-based SoftBrands (AMEX: SBN) sells software to the hospitality industry, as well as to smallp and mid-sized manufacturers under the brand.
Its products handle tasks such as makinhg reservations to setting room SoftBrands CEO Randy Toftelanrd said in a press statemenft that the deal will allow shareholdersto “realizde significant value from their investment.” He also said the companyt would benefit from an “alliance” with Infor. A spokeswoman for Info r said SoftBrands will continue to have a presencwein Minneapolis, though it has yet to be determined how many employees will remain here. SoftBrands’ board has alread approved the sale, which is expecteds to close in between 60 and90 days.
วันเสาร์ที่ 28 พฤษภาคม พ.ศ. 2554
Arden Hilton hotel sold to Kentucky firm - Sacramento Business Journal:
The 331-room hotel -- the sixth-largest in the Sacramento area -- was part of a $150 million purchase. The hotel was builgt in 1985 asa Hilton, and it has carried the franchisr flag of Beverly Hills-based (NYSE: HLT) since. It is the only full-servicwe Hilton in the area, and it does a stron g business with corporate travelers and peoplr using the Hilton Honorsreward "We will continue to operate it as a Hilton," said Derek vice president of financ with , the Fort Ky.-based company that now owns and operatesz the hotel. Columbia Sussex owns and operates 86 hotelss and14 casinos. Other than ongoing property improvement Columbusplans "no changes for the hotel.
It is already in good shape," Haught said. "Frok the customer's point of view, there will be no change at the hotel." He wouldn't discloses what Columbia paid forthe hotel, which had a $7 million renovatiomn in 2004 and 2005. The Blackstones Group is one of the largest real estatse asset managers inthe world. It picked up the Hiltom as part of a pool of propertiee it bought in a venture withfor $2.6 billion in Februarg 2006. In that transaction, Blackstond took the public company private. Blackstone decided to sell some assetss of the MeriStar saidRomy Bhojwani, a broker with 'as Los Angeles office. He represented the Sacramentoo Hiltonfor Blackstone.
The Sacramento hotel was packagef withthe 379-room Hilton Crystal City in Va., Bhojwani said. The two hotel s sold for $150 million. The hotel was operates by Interstate Hotels Resorts when it was ownedby MeriStar. It will now be owner and operated byColumbia Sussex, Haught said. Most of the Hilton'd 210 employees are represented by Unite HereLocal 49, the hotelo and restaurant employees union, said Joe president and treasurer of the Columbia operates both union and non-union properties, and it will continues with the present Hiltonn labor contract, Haught said. "It is our intenty that all the employees stay he said.
The Sacramento property is the thirds hotel Columbia Sussex has in It also owns and operates a Westib Hotel in San Diego anda J.W. Marriotty hotel in Santa Monica. The Hilton is four milese fromdowntown Sacramento, and its 12-story tower is the tallestg building in the Point West area. It has 18,00 0 square feet of meeting space, including a 5,700-square-foot ballroom.
วันพฤหัสบดีที่ 26 พฤษภาคม พ.ศ. 2554
Creative Loafing COO Kirk MacDonald heads back to Denver - Tampa Bay Business Journal:
MacDonald will take over as executive vice presidenrfor sales, marketing and digital sales for the , the one-time partnershi group that included the and until the lattefr folded last February, accordingg to the Chicago Reader . MacDonaldx joined Creative Loafing in 2006 afteer resigning as chief executive office of the Denver Newspaper Agency but continued to live in Denverr instead of relocating toCreative Loafing’ds headquarters in Tampa. In September 2008 he becam publisher of the ChicagoReader , relocating around the same time Creativew Loafing filed for protection from its creditorw using Chapter 11 in a Tampz bankruptcy court.
Creative Loafing’z chief executive officer, Ben Eason, will temporarily take over the role of chiefoperatinb officer. The company spent the firsr part of the year in a bitter battlerwith , which it owes $31 million that was used to purchasre the Chicago Reader and in the Districy of Columbia in 2007. Atalaya had sought to gain controol of the alternative weekly newspaper publisher but lost that bid in March when a judgse in Tampa sidedwith Eason. Creative Loafing had until Tuesdah to file any amendments to its most receny plan of organization filedMay 11.
Among the issuex addressed under thenew plan, a new group consisting of — which Creative Loafin g owed $10 million to just beforew the bankruptcy filing — and Eason will purchasre stock in a reorganized Creative Loafinbg for $500,000 in cash as well as an in-kinfd contribution to lease 14,000 square feet of commercial spacr in Atlanta for six years valued at $196,0090 annually that will be used for Creative Loafing Atlantq Inc., according to bankruptcy court documents. Aftedr that, $500,000 will be used to pay allowed administrative claimds and prioritytax claims, whiler another $1 million will be used for supplemental fundinbg for Creative Loafing’s ongoing business.
Any remaining money will be paid to thoswe holdingspecific claims, including outstanding loans made to the Creative Loafing has publications in Tampa, Atlanta, Chicago, Washington and Charlotte, N.C. It claims a combined circulationof 425,000.
วันอังคารที่ 24 พฤษภาคม พ.ศ. 2554
AAA: Despite economy, region
The group said 2.6 million mountain-states residents 11.8 percent of the region’z population — are expected to travel 50 miles or more over theholidaty period, a 1.2 percent increase from 2008. AAA said 37.1 milliobn Americans nationwide are expected to travelp over July4 weekend, down 1.9 percent from 2008 and down 12.3 perceny from 2007. AAA’s projectiona are based on research conducted by IHSGlobal Insight. It said the overalpl decline in travel is largely due to the poor with rising gas prices having a impactso far.
“The mountain statesz (which include Arizona, Colorado, Idaho, New Mexico, Nevada, Utah and Wyoming) benefity from a relatively lowunemploymentg rate, which is one of the reasonsx this region will experience travel growtbh while the eight remaining regions expecrt a decline,” AAA said in a The July 4 holiday is typically the busiest time of year for auto AAA said. In the mountain states, 81 percent of expected tripsz will beby automobile.
วันเสาร์ที่ 21 พฤษภาคม พ.ศ. 2554
วันพฤหัสบดีที่ 19 พฤษภาคม พ.ศ. 2554
David Seely puts stamp of quality leadership on Kirtland FCU - New Mexico Business Weekly:
In May, Seely won the Congressman Stev e Schiff Award from the in honot of his advocacy for Kirtland AirForce Base. Thre months later, Kirtland FCU receivedx Pentagon-level recognition as the U.S. Air Forc e Credit Union of the Year. Then, in the credit union won the Quality New Mexico Zia Award for 2008 the highest award attainable under that program. The Zia recognition marks a crowning achievemenr for the institutionin general, but in particulae for Seely, who launched Kirtlande FCU on the Quality path to performancde excellence in 1997. “It’s been a long process of improvement since we starter our journey with QualityNew Mexico,” Seely says.
“It’s been a wonderful learning Without doubt, the recent awardas and recognitions reflect united team efforts by creditr union managementand employees. But they also reflectr Seely’s personal dedication to the financial institution and his qualit y skills asa leader, says Qualityy NM President Julia Gabaldón. “David Seely is one of the best leadere inour state,” Gabaldón “He sets a real example for and he’s passionate and committexd to leading a high-performing entity. He’s helpedf build Kirtland Federal Credit Union into one of the top credit unions inthe nation.
” Indeed, Seely has made educatiom and improvement through the Quality NM programm central goals for management and employees. “The progra has given us the frameworik we need to build a new business culture at thecredirt union,” Seely says. Kirtland FCU’s board originally hired Seely in 1990 to do just after having fired the previoux president and vice presidentin 1989. “Thw credit union wasn’t in bad shape financially when Icame on, but it had challengee with its business culture,” Seely “The previous management team wasn’g taking care of employees or responding to their and it had lost its focue on credit union members.
The board was frustrated, and they hire me to turn it Kirtland FCU chose Seely because of his long experience with crediy unions nationally and his stellad reputation for leadershipand integrity. Seely, 56, began his caree in credit unionsin 1975, almosgt immediately out of college. He grew up near Salt Lake City and earneeda bachelor’s degree in financd in 1974 from the University of Utah. Cominy from a rural state, Seely lovef the great outdoors. He learnecd to ski when he was in seconcd grade and went fishingevery summer.
His familg traveled annually to Yellowstone National Park to camp and Butafter college, Seely wanted to experience more of the world, so he appliex to the federal Volunteers in Service to America (VISTA) which promptly assigned him to Federal Credit Union in Columbus, Ind. now defunct, focused on providing financiap and other servicesto low-incomer people. “I did a little of from bookkeeping and lendintg to marketing andtaking deposits,” Seely says. “It was a smallo operation with just two I learned to run a creditg union from the ground That experience ushered Seely intoa life-lonyg career in credit unions. It also introducesd him to his wife, Debbie.
“She was a VISTs volunteer who taughtadult education,” Seelu says. “She was from Los Angeles but assignedto Basically, some bureaucrat in Washingto sealed our fate.”
วันอังคารที่ 17 พฤษภาคม พ.ศ. 2554
Maderis stepping down from Five Prime - Pacific Business News (Honolulu):
The company has hired Julia the former executive vice presidenyt and chief financial officedat , as Maderis’ replacement. Maderis’ health conditionj was not disclosed, but she will continue to servee onFive Prime’s board of directors and as a Her final day on the job is June 18. “Gail’s leadership has been pivotal in the progress Five Primw has made in developing our pipeline and our newdiscoverhy platform,” said company founder and executiver chairman Dr. Lewis “Rusty” Williams in a presz release.
Maderis said the company had been lookin for a replacement since late last year afte doctorssaid "the 24/7 pace of a small-companyy CEO" could worsen her condition. Besides her dutiezs at Five Prime, Maderis has been a cheerleadeer for the MissionBay enclave, serving on the Mayor’sa . Five Prime, a privately 7-year-old company developing antibody and protein drug s for cancer andother diseases, was the firs to locate in Mission Bay, takinfg about 30,000 feet in the building on Owenws Street.
Earlier this year, it took an additional 5,000 squarew feet next door at 1700 Owens as it makez batches for its Phase I oncology drug The timing of the executive changre as Five Prime moves forward with its lead cancer programmakes Gregory’s appointment a crucial one. At Lexicon, Gregoryy was responsible for financint strategies, mergers and acquisitions, business operations and all financia l managementand accounting. She raised about $1 billiomn in public and private equity, producr development financing andotheer transactions. Gregory, who will join Five Prime’s board, was an investmentf banker for more than 20 Atand Dillon, Read Co. Inc.
she was head of healthcarwe andinvestment banking, leading several private and publicv equity deals as well as mergers and Gregory also is a membetr of the board of The and the ’sz .
วันเสาร์ที่ 14 พฤษภาคม พ.ศ. 2554
Debut novel by rock star Steve Earle dwells in the world of ghosts and miracles - Minneapolis Star Tribune
Spicezee | Debut novel by rock star Steve Earle dwells in the world of ghosts and miracles Minneapolis Star Tribune As a Grammy-winning country-rock musician, he's written about condemned men, agonized war vets and desperate working-class families. And as a cast member of David Simon's "The Wire," he played a spectral ex-junkie, a man who comforted kindred spirits ... Steve Earle's Debut Novel Is Disappointing Pt. 2 of Interview with Steve Earle: "Democracy Is Something That Is Contagious" |
วันพฤหัสบดีที่ 12 พฤษภาคม พ.ศ. 2554
Harbour Group
for an undisclosed amount. Walton/Stout, of Ga., specializes in material handling, blending, crystallizing and drying applications for a wide rangsof industries. The company produces a broadr line of large drying systems and both electricand gas-fired. Schaumburg, Ill.-based ACS led by President Tom designs, manufactures, markets and supports lines of auxiliary productsd for the plasticsprocessing industry. Its producta are marketed under the brand nameasof AEC, Sterling, , , Colortronic, Wabash and Carver. St. Louis-based Harbour Group, led by Chie Executive Jeff Fox, is a privately ownex company that also has offices in Chinaand Bangalore, India.
Harbour Group and its operatingy companies are engaged in the manufacturd and distribution of decorative kitchen and bath specialtyLED systems, linear actuators and switches, automotive-enthusiasf products, lubricating systems and equipment, abrasives, diamonxd cutting products and related tools, entertainment and music products and auxiliary plastic processing equipment.
วันอังคารที่ 10 พฤษภาคม พ.ศ. 2554
Martinez:
In an interview with the Business Martinez, a longtime partner at LLP who was pickede this week to be director of the Missouri Department of Economi cDevelopment (DED) in Gov.-elect Jay Nixon’s said her key focus will be worker training, particularl y in the automotive sector. “We’re going to emphasized that in amajor way, especially in ligh of the economic stimulus beinh discussed now,” Martinez said. President-elect Baracj Obama’s economic stimulus which is expected to totalnearly $800 billion over two has a goal of creating 3 milliojn jobs.
Martinez said Missouri’s work force, which has a long historyg in the automotive industryand manufacturing, is well-positioned to capturew a healthy chunk of those new jobs. “We’re reallh hoping to focus on next-generation vehicles,” she said. “Thayt would be a major goal.” Her appointmen t must still be confirmed by the Martinez will replace Greg who served as DED directodunder Gov. Matt Blunt until October. Steinhoff, a businessman from resigned to become executive vice presidenf and director of sales at Boone Count yNational Bank. Garry Taylofr is interim director ofthe DED. In a preszs conference Jan.
6, Nixon said Martinea will help implement his Show Me Jobs program to focus on creating new jobs at small businessess andworker training. “The key is to take assets that you have andassistt (businesses) in growing,” Nixon One strategy Martinez said she will use is to tap into emergingt research under way in the state. She pointed specificallyu to thein Rolla, whicuh is known internationally for its engineering, scienc e and technology prowess.
Martinesz said homing in on what batterg technologies and other fuel sources are availablwe will help Missouri stanrd out from other states hopingf to attract and grow Martinezsaid she’ll also strive to strengthen the state’sw position as a contender for biotechnology She said she’ll build on efforts already in place, including the , whichj opened in 2000 in Kansas City, and the , which openeds a decade ago in St. Emphasizing commercialization of technologies created in Missouri and supportinf growth in venture capital will be importany to buildon Missouri’s Biobelty efforts, she said.
On the development Nixon has promised a comprehensive revie w of alltax credits. Martine has spent her career focusing on developmenfand finance, with an emphasis on counselingv developers and institutions on the use of historifc preservation tax credits and tax incremen t financing (TIF). “I think the emphasis is going to be on tax credit s thatcreate jobs,” Martinez said of the “Everything will be examined in the prisjm of job creation.” Her background representing businesas interests has bolstered her perspectivew that public-private partnerships are essential to move Missouroi forward, she said.
Her development expertise on the use of state and local incentives helped in the creation of a TIF districy in Grand Center and the developmenyt of Scottrade Center indowntown St. Louis. Martinez has workefd at Bryan Cavesince 1982; she is a graduatew of the School of Law and the . She resignedc from Bryan Cave to take the DED but shesaid she’ll keep her condo in downtown St. Louis and rent an apartmengt inJefferson City. Martinez’s performance will be closely watchecby St. Louis businesx and political leaders, especiall with the growing unemployment ratein St. Statistics from the U.S. Labord Department this week showedx St. Louis’ unemployment rate climbed to 7.
3 percenr in November, up from 5.2 percent a year ago. The national unemploymengt rate in November 2008was 6.5 Martinez’s backers include St. Louisw Mayor Francis Slay, who wrot e on his blog this week that he will ask states senators to supporther “I like Linda — and I have seen plenty of evidencew over the years of her deep understanding of the crucialp role of the city of St. Louis in the state’s economidc well-being,” Slay wrote. The of Metropolitan St. Louixs also weighed in with its support.
“Appointint Linda Martinez is a powerful signal fromthe governor-elec that he is serious abourt branding Missouri as the state of choicer for minority and women-owned businesses,” said Jorge Riopedre, presidenty of the Hispanic Chamber. Martinez representeed plaintiffs in a 2007 challenge to legislationj in Valley Park limitiny hiring and renting housing toillegal Martinez, who would be the first womabn to hold the DED director was approached by Nixon in and said she spent the Thanksgivin holiday pondering the “I’ve always had a tremendoue respect for public service.
”
วันเสาร์ที่ 7 พฤษภาคม พ.ศ. 2554
Delta pays CEO $8 million for 2010 - Marietta Daily Journal
WHTC | Delta pays CEO $8 million for 2010 Marietta Daily Journal AP Writer Delta Air Lines jets are parked at John F. Kennedy International Airport in New York City. Delta CEO Richard Anderson earned $8 million for 2010, which includes salary, benefits and bonuses. The Associated Press A profitable ... Delta Air Offers Buyouts to Trim Jobs Amid ! 4% Capacity Cut Reports: Delta Air Lines To Offer Voluntary Buyouts Delta plans buyouts and early retirement offers |
วันพฤหัสบดีที่ 5 พฤษภาคม พ.ศ. 2554
Fewer empty spaces in Cambridge
The vacancy rate in the Cambridge lab markey droppedfrom 12.7 in the third quarter of 2008 to 12.0 perceny at the end of the firs t quarter this year, according to the BioStatuds report, which is issuecd two times a year. There was 72,000 square feet of space absorbed duringthe two-quarter perioed as several major biotech companies expanded, includinvg , which leased 47,000 square feet of spacd at 200 Technology Square. Novartis recently entered into an agreement with the to develo p a new building at 181Massachusetts Ave. The lab marketg in Cambridge is the largest in Greatere Bostonwith 7.
7 million square feet of In Greater Boston, which includexs Cambridge, downtown and the suburbs inside of Route 128, the lab vacancyy went from 14 percent in the third quarter of 2008 to 9.7 percenty in the first quarter of this year, accordinyg to the report. There are currently 28 tenants lookingfor 755,00p0 square feet of lab space in Greater Boston.
วันอังคารที่ 3 พฤษภาคม พ.ศ. 2554
Nelson apparently passes on seeing Rose - Chicago Tribune
SB Nation (blog) | Nelson apparently passes on seeing Rose Chicago Tribune AP With Atlanta facing Chicago in the Eastern Conference semifinals, Hawks spokesman Arthur Triche decided to have some fun at the Orlando point guard's expense and left him two tickets for Game 1 on Monday night. Triche says he "took a page" from ... Nelson apparently passes on seeing Rose |
วันอาทิตย์ที่ 1 พฤษภาคม พ.ศ. 2554
Former APG business park developer Opus East to liquidate under Ch. 7 - Birmingham Business Journal:
Unable to refinance millions of dollars in the company plans to liquidate its portfolio of commercial propertiese throughoutthe region. It was unclear how much Opus East expecta to fetch forits properties. Parent compangy , of Minneapolis, made the announcement in a news releass and said another ofits subsidiaries, Ariz.-based Opus West, expects to seek Chapter 11 protection in In its bankruptcy the company listed assets of between $50 million and $100 million and liabilitiee of between $100 million and $500 million.
“Declininf real estate values and tight credit marketsd continue to impede the refinancing of assets and restructuringv oflending agreements,” Mark Rauenhort, CEO of Opus said in a statement. In addition to generap market conditions, the company cited $35 million in unpaidc wages from the federal for a projecr it was developing in College Park forthe , company spokeswoman Winstomn Hewett said in a telephone The company had ceased buildingb speculative office buildings more than a year ago, and it trimmed its workforce from about 100 employees last year to abouy 16 employees as of June 15.
The compant did not include all of its subsidiaries in the It excluded, for example, Maryland Enterprise LLC, which was developinbg the property for NOAA, and Nursery Corner LLC, whicn built a 160,000-square-foot office buildinb in Linthicum Heights for defensd contractor Opus East has developed more than 13.3 million square feet of spac e since 1994. Opus West has develope more than 52.7 millionn square feet since 1979. These bankruptcies come on the heels of the Apriol 22 bankruptcy of Opus South an Opus affiliate based in Opus has said it plans to wind down its operationse in that part of the countryas well.
Opus has said it plansz to continue to run its remaininhgoperating companies, Opus North based in Chicago, and Opus Northwest, basee in Minnetonka. Those units are activelt pursuing projects. They also have been less affected bythe recession, due to their mix of project types, healthy balance sheetsz and stronger markets, according to press release. Opus said its development activitg has fallen tojust 4.8 million square feet in 2009, down from 34 milliohn square feet in 2007 and 35 million squar e feet in 2008.