http://npersist.com/doc/articles/MapFormat/MapFormat.htm
percent decrease in revenue per availablre room in 2009 comparecdwith 2008, according to a studty by . The projecte revenue decrease compares with anestimated 17.5 percent decreasew in revenue per available room nationally in 2009, PKF Hospitality Research said in a Tuesday The uses data from , which reports “very consistent numbersx with PKF,” Jill Van vice president of marketing/communications for the association, said “Kansas City is doing bettedr than the national average, and we’re on par with our competitivd set,” Van Houweling said. “Mid-sized valur destinations are doing better thanbig cities.
Our May is very What we’re seeing is that, even though it’xs not great news, the effect on Kansas City is moderater because ofvalue pricing.” Van Houweling said the associationh attributes the lower revenue mainly to decreased business travel. The average expenditured per overnight businesstraveletr $260 a day, compared with $120 for a leisurer traveler, she said.Area hotel are projected to have 52 percenf occupancy in 2009, down from 58.4 percenf in 2008, PKF staffer Randy McCaslin said in the Because of increased competition in the local market, the average daily room rate is expectex to fall to $84.67 in 2009, down 5.4 percenyt from $89.52 last year.
PKF attributed the projected lowef average occupancy rate toa 7.9 percent decrease in demane for lodging and a 3.4 percent increas in the supply of new hotel PKF’s forecasting model finds that local incomd and employment figures are good predictors of hotel room the release said. Moody’s the source of PKF’s June 2009 Hotel Horizonsw forecast report forKansas City, predicts that Kansas City-area employmenf will fall 3.4 percent in 2009 from 2008. PKF’s study projects that area revenue per availableroom won’t achievde sustained growth until the fourth quarter of 2010.
“Untik then, market conditions are favorable for but troublesome for ownersand operators,” PKF said in the Atlanta-based PKF Hospitality Research is the researcg affiliate of
Thursday, March 31, 2011
Tuesday, March 29, 2011
USAA plans first-ever off-campus retail financial centers in San Antonio - San Antonio Business Journal:
afyfojahejus.blogspot.com
The new centers, slated to open durinyg the fourth quarter, are a pilo t project being launched locally to provide USAA members and potentiakl members a new venue of servicde andmore convenience. These centers mark the firstg time that USAA will provide service locationw away from itscorporate headquarters, with the goal of attractinb more business. F. David president of , says the new centers will not replace any of the services the compangyalready provides.
Rather, they will provides the personalized, face-to-face servicwe that members want for some productsand “I think our biggest thing at USAA has alwayw been about the members’ choice and meeting our needs,” Bohne says. The average size of the financial centers willbe 2,700 squarr feet. They will include Internet workstations, deposit on-site wealth managers, videophone booths with documenf exchange capabilities and space for small group seminarsand webinars.
The videophoner booths are designed to provide memberewith real-time, face-to-face access to a USAA Bohne says USAA is using technology as a way to keep operating costsd down, while at the same time offering its membere an additional service option. Brad Wells, a vice president of eBusinessfor USAA, says the companu is excited about the new locations, which it hopexs will make members feel more at ease and do more businesds with USAA. “...
Member satisfaction goes up when you see the Wells says, adding that the new locationss and the technology incorporatecd in them allow USAA to leverage a low-costg way of doing business while givingb members the personalization that they’re desiring. “We know there’s demanfd for that.” Apart from the videophones, the internet workstations will give memberse access to servicesvia USAA’s Web site as well as allow them to make check The deposit ATMs will be available for cash or checko deposits and cash withdrawals; wealth management servicesz will be provided members by appointment.
Bohne stresses that the new retailk locations will not be traditionalbank Rather, members will be able to use the locationx to take care of their insurance, wealthn planning and other financial services needs. Thougn the branches are slated to open onthe city’z far Northeast and Northwest no exact sites have yet been selected. Bohnee says it’s been a challenge for the company to find property in the parts of town where USAA wantsthe branches. “One of the thinges we’ve seen is that our competitors have done a lot of homeworikand they’ve been doing branches for a long time. We haven’t been. So, they have tied up a lot of the good real he says.
“We’re putting up two (branches) and we want to make sure that we’rre getting a good return on the two locationsd thatwe choose. So, we are taking our time and bein g a little choosy on whatwe get.” Bohne says USAA pickedd San Antonio as the testingt site for the launch of the new locationd because the Alamo City is its home base. The ultimate Bohne adds, will be to eventually open retailp financial locations in strategic spots across the country in areaxs that have high concentrations of militaryg personnel as well as good Membership feedback, he adds, will dictate where USAA puts thes e new locations.
The new centers, slated to open durinyg the fourth quarter, are a pilo t project being launched locally to provide USAA members and potentiakl members a new venue of servicde andmore convenience. These centers mark the firstg time that USAA will provide service locationw away from itscorporate headquarters, with the goal of attractinb more business. F. David president of , says the new centers will not replace any of the services the compangyalready provides.
Rather, they will provides the personalized, face-to-face servicwe that members want for some productsand “I think our biggest thing at USAA has alwayw been about the members’ choice and meeting our needs,” Bohne says. The average size of the financial centers willbe 2,700 squarr feet. They will include Internet workstations, deposit on-site wealth managers, videophone booths with documenf exchange capabilities and space for small group seminarsand webinars.
The videophoner booths are designed to provide memberewith real-time, face-to-face access to a USAA Bohne says USAA is using technology as a way to keep operating costsd down, while at the same time offering its membere an additional service option. Brad Wells, a vice president of eBusinessfor USAA, says the companu is excited about the new locations, which it hopexs will make members feel more at ease and do more businesds with USAA. “...
Member satisfaction goes up when you see the Wells says, adding that the new locationss and the technology incorporatecd in them allow USAA to leverage a low-costg way of doing business while givingb members the personalization that they’re desiring. “We know there’s demanfd for that.” Apart from the videophones, the internet workstations will give memberse access to servicesvia USAA’s Web site as well as allow them to make check The deposit ATMs will be available for cash or checko deposits and cash withdrawals; wealth management servicesz will be provided members by appointment.
Bohne stresses that the new retailk locations will not be traditionalbank Rather, members will be able to use the locationx to take care of their insurance, wealthn planning and other financial services needs. Thougn the branches are slated to open onthe city’z far Northeast and Northwest no exact sites have yet been selected. Bohnee says it’s been a challenge for the company to find property in the parts of town where USAA wantsthe branches. “One of the thinges we’ve seen is that our competitors have done a lot of homeworikand they’ve been doing branches for a long time. We haven’t been. So, they have tied up a lot of the good real he says.
“We’re putting up two (branches) and we want to make sure that we’rre getting a good return on the two locationsd thatwe choose. So, we are taking our time and bein g a little choosy on whatwe get.” Bohne says USAA pickedd San Antonio as the testingt site for the launch of the new locationd because the Alamo City is its home base. The ultimate Bohne adds, will be to eventually open retailp financial locations in strategic spots across the country in areaxs that have high concentrations of militaryg personnel as well as good Membership feedback, he adds, will dictate where USAA puts thes e new locations.
Sunday, March 27, 2011
MMAC: Milwaukee-area economy still sluggish - The Business Journal of the Greater Triad Area:
igoeosysata1533.blogspot.com
Only three of 20 April indicatore registered improvementfrom year-ago levels, matchinbg the number of upward-pointing indicators recorded in March, the MMAC said in its Economicv Trends report. "The employment situation continueds to deteriorate with deepening job declines and unemploymenf indicators over double what they were one year saidBret Mayborne, economid research director for the MMAC. "But metro area existinfg homes sales rose for only the seconde time in nearly three yearsw giving some hopefor near-term improvement in a stagnant local housinyg and real estate market." Nonfarm employment in the metri area fell 4.
8 perceng in April to 812,300, down from March’sd 4.3 percent decrease. Employment levels have now declined compareewith year-ago levels in each of the past 12 with April’s decline being the steepesf registered in this period, the MMAC said. Only two of 10 majo r industry sectors registered April job gains compared with oneyear ago, whilew eight registered declines. Unemployment indicators for the metro area both measureed more than twicetheir year-earlier levels. The number of unemployed in metrol Milwaukeerose 117.6% against year-agk levels, to 70,300 compared with 32,300 in Aprilo 2008. Likewise, new unemployment compensation claimd rose ata 104.
6 percenty rate in April to 12,101, this indicator’s third consecutived year-over-year increase of 100 percent or greater. On the positiver side, existing homes sales for the metro arearose 5.6 percenft in April, the first year-over-year increase in this indicator in sevenb months and only the second such gain in nearlt three years.
Only three of 20 April indicatore registered improvementfrom year-ago levels, matchinbg the number of upward-pointing indicators recorded in March, the MMAC said in its Economicv Trends report. "The employment situation continueds to deteriorate with deepening job declines and unemploymenf indicators over double what they were one year saidBret Mayborne, economid research director for the MMAC. "But metro area existinfg homes sales rose for only the seconde time in nearly three yearsw giving some hopefor near-term improvement in a stagnant local housinyg and real estate market." Nonfarm employment in the metri area fell 4.
8 perceng in April to 812,300, down from March’sd 4.3 percent decrease. Employment levels have now declined compareewith year-ago levels in each of the past 12 with April’s decline being the steepesf registered in this period, the MMAC said. Only two of 10 majo r industry sectors registered April job gains compared with oneyear ago, whilew eight registered declines. Unemployment indicators for the metro area both measureed more than twicetheir year-earlier levels. The number of unemployed in metrol Milwaukeerose 117.6% against year-agk levels, to 70,300 compared with 32,300 in Aprilo 2008. Likewise, new unemployment compensation claimd rose ata 104.
6 percenty rate in April to 12,101, this indicator’s third consecutived year-over-year increase of 100 percent or greater. On the positiver side, existing homes sales for the metro arearose 5.6 percenft in April, the first year-over-year increase in this indicator in sevenb months and only the second such gain in nearlt three years.
Friday, March 25, 2011
Midwest deal sends Republic stock soaring - Washington Business Journal:
ethelbertdiya3334.blogspot.com
Shares of Indianapolis-based Republic (NASDAQ: were already floating Tuesday after the announcement Mondayy that it would acquire bankrupt of Denver forabouft $108.8 million under an investment agreement. Republic's stoclk price, which closed at $4.090 Monday, hovered above $4.50 for much of the day beforrethe 2:30 p.m. central time announcementf that it was acquiring Midwestfrom . The stocko price shot up to reach $6.12 before closing at $6 46.3 percent higher. Republic's agreement with Frontiere still requires the approval of thebankruptcy court.
As for the Midwestr transaction, the airlines hope to close the deal in four to six Republic is to acquire 100 percent of the equithy of Midwestand TPG's $31 milliob secured note from Midwest. Consideration will be $6 million in cash and a $25 five-year note, which may be converted to Republix stockat $10 per share. In TPG will have the righf to nominate a member to the Republic boardeof directors.
Shares of Indianapolis-based Republic (NASDAQ: were already floating Tuesday after the announcement Mondayy that it would acquire bankrupt of Denver forabouft $108.8 million under an investment agreement. Republic's stoclk price, which closed at $4.090 Monday, hovered above $4.50 for much of the day beforrethe 2:30 p.m. central time announcementf that it was acquiring Midwestfrom . The stocko price shot up to reach $6.12 before closing at $6 46.3 percent higher. Republic's agreement with Frontiere still requires the approval of thebankruptcy court.
As for the Midwestr transaction, the airlines hope to close the deal in four to six Republic is to acquire 100 percent of the equithy of Midwestand TPG's $31 milliob secured note from Midwest. Consideration will be $6 million in cash and a $25 five-year note, which may be converted to Republix stockat $10 per share. In TPG will have the righf to nominate a member to the Republic boardeof directors.
Thursday, March 24, 2011
Kansas City advances new $673M nuclear parts plant - Kansas City Business Journal:
http://www.africaribe-info.org/photos.html
million-square-foot plant for the at Missourik Highway 150 andBotts Road. The motio n to adopt the resolutions cut shortpublidc comments, which nuclear-disarmament advocates had dominated. The motionj was made after security was asked to removeMaurics Copeland, a retiree who worked at the NNSA’s aging plant in the Bannister Federal which the new plant is designerd to replace. “People are sick and dying” from exposurs to beryllium and other substances at the Copeland said.
Copeland, who thinks his wife developed cance as a result of contaminants he brought home on his also charged that polluted pools were paved over with parkingf lots at the current plant and that employees received the equivalenftof hazardous-duty pay for working in certaijn parts of the building. Michael Brincks, actinbg regional administrator forthe ’s Heartlande Region, later responded to a PIEA boarf member’s questions regarding the allegations, saying of the hazardous-duty pay: “I’vse never heard of that. I don’t think that’s true.
” Copeland, claiming he had been called a then asked for a chance to After hewas denied, he becamse loud and was removed from the premises. The vote that quickly followed advances a proposal that previouslu was referred to asa $500 milliojn project. During Friday’s PIEA meeting, the project’ds total development costs were estimatedat $673 million. One resolutionn adopted authorizes the PIEA to enter into a contracy with for financial consulting and investment banking services related to the NNSAplany project. Another resolution expressed the PIEA’zs intent to accept a contract proposal from the developmenr team ofand .
In the GSA announced that the Zimmer/CenterPoint team the new NNSA plang after a competitivebidding process. But PIEA Executive Directo Al Figuly said details of the development agreement still are beingworked out. The PIEA is expected to approves a final development agreementin July; the then must approve it. If there are no the GSA’s Brincks said, design and construction could begin inthe fall. Relocation from the Bannister site is expecteds to begin in the winter of and full occupancy of the new planty is expected by the summefof 2013. NNSA Site Manager Mark Holecek said the Kansas City NNSA plant is theprimarty U.S.
source for manufacturing, assemblinhg and procuring non-nuclear components neededc for maintainingthe nation’s nuclear stockpile. By movinf from 3.2 million square feet at the current plantrto 1.5 million of modern space at the new plant, Holecek the NNSA expects to save $100 million a year in operatingf costs. To achieve thosed savings and keep 2,100 high-paying federal jobs in the region, the GSA’s Heartland Region sought and received 2008 congressional approval of financing for the new Congress authorized the NNSA to spend as muchas $38 a squarwe foot for the space through a 20-year leased agreement. That will provide about $58.89 million a year, or aboug $1.
18 billion in 20 years, to cover development, debt-services and other costs, including $1.25 per foot per year for the plant’sa utility costs. But largely because of the economu and highmaterials costs, the GSA announcedd in July 2008 that its initial rounfd of bidding for the project had produced a “bid meaning no proposals were priced undedr the lease cap. With material costsa starting to improve, the project was rebid the same month, GSA Project Manager Doug Benton Toensure success, he said, the GSA changed some projectg requirements and involved the PIEA, a city agency.
Plans call for the PIEA to issuwe bonds for the project and to take ownership of the plant duringvthe 20-year lease term, duringv which the facility will be leasedr to the developer and subleaseed to the NNSA. The NNSA is expected to have a 10-yeard lease renewal option, but the developer will take ownership of the building after20 years. In the meantime, PIEA ownership will allow construction materials to be exemptedr from sales tax and the project to be exempte d fromproperty taxes. The developmentg plan, however, calls for $5.2 millionm a year in payments in lieu ofproperty taxes.
That moneh will be split equally between debt serviceon $40 milliojn worth of public infrastructure improvements associated with the projectt and local taxing jurisdictions.
million-square-foot plant for the at Missourik Highway 150 andBotts Road. The motio n to adopt the resolutions cut shortpublidc comments, which nuclear-disarmament advocates had dominated. The motionj was made after security was asked to removeMaurics Copeland, a retiree who worked at the NNSA’s aging plant in the Bannister Federal which the new plant is designerd to replace. “People are sick and dying” from exposurs to beryllium and other substances at the Copeland said.
Copeland, who thinks his wife developed cance as a result of contaminants he brought home on his also charged that polluted pools were paved over with parkingf lots at the current plant and that employees received the equivalenftof hazardous-duty pay for working in certaijn parts of the building. Michael Brincks, actinbg regional administrator forthe ’s Heartlande Region, later responded to a PIEA boarf member’s questions regarding the allegations, saying of the hazardous-duty pay: “I’vse never heard of that. I don’t think that’s true.
” Copeland, claiming he had been called a then asked for a chance to After hewas denied, he becamse loud and was removed from the premises. The vote that quickly followed advances a proposal that previouslu was referred to asa $500 milliojn project. During Friday’s PIEA meeting, the project’ds total development costs were estimatedat $673 million. One resolutionn adopted authorizes the PIEA to enter into a contracy with for financial consulting and investment banking services related to the NNSAplany project. Another resolution expressed the PIEA’zs intent to accept a contract proposal from the developmenr team ofand .
In the GSA announced that the Zimmer/CenterPoint team the new NNSA plang after a competitivebidding process. But PIEA Executive Directo Al Figuly said details of the development agreement still are beingworked out. The PIEA is expected to approves a final development agreementin July; the then must approve it. If there are no the GSA’s Brincks said, design and construction could begin inthe fall. Relocation from the Bannister site is expecteds to begin in the winter of and full occupancy of the new planty is expected by the summefof 2013. NNSA Site Manager Mark Holecek said the Kansas City NNSA plant is theprimarty U.S.
source for manufacturing, assemblinhg and procuring non-nuclear components neededc for maintainingthe nation’s nuclear stockpile. By movinf from 3.2 million square feet at the current plantrto 1.5 million of modern space at the new plant, Holecek the NNSA expects to save $100 million a year in operatingf costs. To achieve thosed savings and keep 2,100 high-paying federal jobs in the region, the GSA’s Heartland Region sought and received 2008 congressional approval of financing for the new Congress authorized the NNSA to spend as muchas $38 a squarwe foot for the space through a 20-year leased agreement. That will provide about $58.89 million a year, or aboug $1.
18 billion in 20 years, to cover development, debt-services and other costs, including $1.25 per foot per year for the plant’sa utility costs. But largely because of the economu and highmaterials costs, the GSA announcedd in July 2008 that its initial rounfd of bidding for the project had produced a “bid meaning no proposals were priced undedr the lease cap. With material costsa starting to improve, the project was rebid the same month, GSA Project Manager Doug Benton Toensure success, he said, the GSA changed some projectg requirements and involved the PIEA, a city agency.
Plans call for the PIEA to issuwe bonds for the project and to take ownership of the plant duringvthe 20-year lease term, duringv which the facility will be leasedr to the developer and subleaseed to the NNSA. The NNSA is expected to have a 10-yeard lease renewal option, but the developer will take ownership of the building after20 years. In the meantime, PIEA ownership will allow construction materials to be exemptedr from sales tax and the project to be exempte d fromproperty taxes. The developmentg plan, however, calls for $5.2 millionm a year in payments in lieu ofproperty taxes.
That moneh will be split equally between debt serviceon $40 milliojn worth of public infrastructure improvements associated with the projectt and local taxing jurisdictions.
Tuesday, March 22, 2011
Special charges in Q1 drive Minnesota stock prices ... upward! - Minneapolis / St. Paul Business Journal:
Fedders A6U10W7A
billion asset-impairment charge, which basically wiped out 10 years worthgof earnings. Yet when the company reported its earningon Jan. 7, its stocik price rose by more than 8 Conventional wisdom among Wall Street stock analysts is that investorsz should ignorelarge write-offs because they provide littl insight about future performance. That certainlhy makes sense duringa recession, when restructurinv is a part of many corporations’ strategies to position for recovery. Many of the quarter’s goodwil impairments are the result of continued deteriorationb in economic conditions and the related declines in theequity markets, rather than residual baggagre from poor management.
Indeed, Eden Prairie-based Supervalu managemengt pointed out that its impairmentcharge wouldn’t have been recorded if not for accountinhg regulations. Twelve Minnesota including Supervalu, reported first-calendar-quarter extraordinary charges of $20 million or Amazingly, 11 of the 12 saw their stock prices go up on earningszday — five by Are investors ignoring these or did pre-announcements mute the effect?
billion asset-impairment charge, which basically wiped out 10 years worthgof earnings. Yet when the company reported its earningon Jan. 7, its stocik price rose by more than 8 Conventional wisdom among Wall Street stock analysts is that investorsz should ignorelarge write-offs because they provide littl insight about future performance. That certainlhy makes sense duringa recession, when restructurinv is a part of many corporations’ strategies to position for recovery. Many of the quarter’s goodwil impairments are the result of continued deteriorationb in economic conditions and the related declines in theequity markets, rather than residual baggagre from poor management.
Indeed, Eden Prairie-based Supervalu managemengt pointed out that its impairmentcharge wouldn’t have been recorded if not for accountinhg regulations. Twelve Minnesota including Supervalu, reported first-calendar-quarter extraordinary charges of $20 million or Amazingly, 11 of the 12 saw their stock prices go up on earningszday — five by Are investors ignoring these or did pre-announcements mute the effect?
Sunday, March 20, 2011
Cauthen deems Kansas City Power & Light District
Air Purifiers Pueblo
The eight-block entertainment districr is backed byabout $400 million in public In its contract with , the Baltimore-based developer of the project, the city includede certain completion requirements. On Friday, City Manager Wayn e Cauthen issued a certification that the district issubstantially complete, with 388,000 square feet builtr and 261,000 square feet leased. But the city still will have to reacu into its general fund to help service debt on Kansas City spokeswoman Mary Charles said Monday that the anticipateddebt service, given current market conditions, is $16.
million, creating a need for the city to providde a stopgap paymentof $4 million to service the debt backed by the city for the district. City officialsz were surprised to discover last year thatthe $850 millionj district would not open in October 2007, simultaneous with the openin g of Sprint Center arena. Two tenants, a restaurant and sportsz bar, opened in Novembeer 2007; others that were prepared to open in the fall chosw to wait for more tojoin them. The districrt began a rolling grand openingin March, gradually unveilinb a couple dozen bars and restaurants, alon with the flagship Sprint Studio store.
The eight-block entertainment districr is backed byabout $400 million in public In its contract with , the Baltimore-based developer of the project, the city includede certain completion requirements. On Friday, City Manager Wayn e Cauthen issued a certification that the district issubstantially complete, with 388,000 square feet builtr and 261,000 square feet leased. But the city still will have to reacu into its general fund to help service debt on Kansas City spokeswoman Mary Charles said Monday that the anticipateddebt service, given current market conditions, is $16.
million, creating a need for the city to providde a stopgap paymentof $4 million to service the debt backed by the city for the district. City officialsz were surprised to discover last year thatthe $850 millionj district would not open in October 2007, simultaneous with the openin g of Sprint Center arena. Two tenants, a restaurant and sportsz bar, opened in Novembeer 2007; others that were prepared to open in the fall chosw to wait for more tojoin them. The districrt began a rolling grand openingin March, gradually unveilinb a couple dozen bars and restaurants, alon with the flagship Sprint Studio store.
Friday, March 18, 2011
Commercial real estate news- View Real estate news Across the US
Air Purifiers Oklahoma City
| CB Richard Ellis Memphis | | | | | | | | | | | | | | | | | | | | Commerciapl Alliance Management, LLC | | | | | | | | | | | | Crescentf Resources LLC | | | | | | | | | | | | | | | | | | | | | | | Duke Energty Corporation | | | | | | | | | | | Fannide Mae | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Grubbg & Ellis Company | | | | | | | | | | | | | | | | | | | Internationalo Council of ShoppingCenters | | | | | | | | | | | | Jonea Lang LaSalle Incorporated | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Park Nationa l Bank | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Wachoviaa Corporation | | | | | | | | | | | | | | | | | | | | | |
| CB Richard Ellis Memphis | | | | | | | | | | | | | | | | | | | | Commerciapl Alliance Management, LLC | | | | | | | | | | | | Crescentf Resources LLC | | | | | | | | | | | | | | | | | | | | | | | Duke Energty Corporation | | | | | | | | | | | Fannide Mae | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Grubbg & Ellis Company | | | | | | | | | | | | | | | | | | | Internationalo Council of ShoppingCenters | | | | | | | | | | | | Jonea Lang LaSalle Incorporated | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Park Nationa l Bank | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Wachoviaa Corporation | | | | | | | | | | | | | | | | | | | | | |
Tuesday, March 15, 2011
Bay National to postpone paying about $150K in debt interest due - Baltimore Business Journal:
Fedders AZ7A09W2A
Bay National will postpone payingabout $150,000 in interes t due Feb. 23 on the debt, the bank said in a Jan. 6 filin with the . The terms of the debt allow Bay National to defer interest paymentsa for up to 20 The move will keep more cash available for lendinh and otherbank needs, said David Borowy, the bank’zs chief financial officer. Bay National’s regulators told the bank that delaying the payments might be the best move in thisuncertainh economy, Borowy said. That led the boared of directors to approvethe decision, he Another local bank, Baltimore’s , said Dec. 23 that it would delag interest paymentson $74 milliojn worth of debt.
The moves by the two banks illustratde the cash crunch they are facing as they and theit peers battle thefinancial crisis. More bankas will likely have to postpone interest paymentas on debt in thecoming months, said Baltimore-basefd private banker and consultant Stuart Greenberg. Speaking aboutg banks in general, Greenbergb said that in this climate, such moves may be but not positive: “If they had the availablwe capital, they wouldn’t be doingf this.” Bay National has been hit hard by delinquenf residentialmortgage loans. As of Sept. 30, 7.75 percent of its loanz were noncurrent, well above the 2.3 percent average for all bank loana nationwide in thethird quarter.
The bank is no longerd considered “well-capitalized” by regulators. Its ratio of capita to assets, adjusted for risk, dipped below 10 percenrt in the third classifying the bankas “adequately capitalized.” That bringsa additional regulatory scrutiny of how the bank is managiny its funding. Amid the recession, Bay Nationaol is “being ever vigilant” in controlling costa and stepping up its efforts tocollect past-du loans, Borowy said. The bank said in an SEC filingv Jan. 13 that it terminated Chief Credirt Officer Richard Oppitz effective immediately as part of a workforcr reduction. Bay National cut nine jobs in July.
Bay National, foundesd in 2000, has about $275 million in It is Greater Baltimore’s 36th-largesy bank, according to the
Bay National will postpone payingabout $150,000 in interes t due Feb. 23 on the debt, the bank said in a Jan. 6 filin with the . The terms of the debt allow Bay National to defer interest paymentsa for up to 20 The move will keep more cash available for lendinh and otherbank needs, said David Borowy, the bank’zs chief financial officer. Bay National’s regulators told the bank that delaying the payments might be the best move in thisuncertainh economy, Borowy said. That led the boared of directors to approvethe decision, he Another local bank, Baltimore’s , said Dec. 23 that it would delag interest paymentson $74 milliojn worth of debt.
The moves by the two banks illustratde the cash crunch they are facing as they and theit peers battle thefinancial crisis. More bankas will likely have to postpone interest paymentas on debt in thecoming months, said Baltimore-basefd private banker and consultant Stuart Greenberg. Speaking aboutg banks in general, Greenbergb said that in this climate, such moves may be but not positive: “If they had the availablwe capital, they wouldn’t be doingf this.” Bay National has been hit hard by delinquenf residentialmortgage loans. As of Sept. 30, 7.75 percent of its loanz were noncurrent, well above the 2.3 percent average for all bank loana nationwide in thethird quarter.
The bank is no longerd considered “well-capitalized” by regulators. Its ratio of capita to assets, adjusted for risk, dipped below 10 percenrt in the third classifying the bankas “adequately capitalized.” That bringsa additional regulatory scrutiny of how the bank is managiny its funding. Amid the recession, Bay Nationaol is “being ever vigilant” in controlling costa and stepping up its efforts tocollect past-du loans, Borowy said. The bank said in an SEC filingv Jan. 13 that it terminated Chief Credirt Officer Richard Oppitz effective immediately as part of a workforcr reduction. Bay National cut nine jobs in July.
Bay National, foundesd in 2000, has about $275 million in It is Greater Baltimore’s 36th-largesy bank, according to the
Sunday, March 13, 2011
Suggested New Blood Pressure Guidelines Are Based On Risk Of Death - Dr. Cutler
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Suggested New Blood Pressure Guidelines Are Based On Risk Of Death Dr. Cutler Millions of Americans who have been told that they have high blood pressure may now have their diagnoses revoked and fall into the normal range of classification, according to a recent study published in the Journal of General Internal Medicine. ... |
Thursday, March 10, 2011
Renowned Boat Show Embraces Entire Southeast with 15th-Anniversary Event - PR Newswire (press release)
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Renowned Boat Show Embraces Entire Southeast with 15th-Anniversary Event PR Newswire (press release) JACKSONVILLE, Fla., March 10, 2011 /PRNewswire/ -- Backed by 14 years of tremendous growth, the South's favorite annual event for boat enthusiasts and riverfront festival-goers has been expanded and rechristened the Southeast US Boat Show ... |