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Monday, January 31, 2011
Friday, January 28, 2011
Rolling Mill Hill condos head into receivership - St. Louis Business Journal:
grihanovveimavox.blogspot.com
The Rolling Mill Hill condominiumws were forced into receivership Tuesday by a lawsuit filer by on behalf of itself andothef lenders. The suit also asks the court to allow foreclosur e onthe three-building project on Hermitage Avenue. The lenderw claims non-payment of $21.4 millio in construction loans taken out bythe property’se owners, , a Wisconsin-based holding company for the project’s investors. The original construction loanswere $42.78 million, but that amount was reduced in a loan amendmentg on Sept. 26. , out of Green Bay, was teaming with the to redevelopthe 34-acrew Rolling Mill Hill site sout h of downtown along the Cumberland River.
Direct had plannedx a $55 million project with four condo buildingsw on the site of theold , but cancelerd plans for one of the buildings last John Hopfensperger, president of said Tuesday that his firm was no longer involved in the and that the remaininv development was being handled by the investor RMH. A contact with RMH could not be reachedffor comment. The lenders’ suit says the loan has been in defaulysince Jan. 14, and the owners are now so short on cash that they were unabld to pay their utility which resulted in water service to the buildingd being shut offlast week.
Though the project was completerby mid-April, no units in any of the buildingds have been purchased, according to recordss with the Davidson County Register of Deeds. The roughly 75 condo s were primarly pricedbetween $230,000 to Fifteen of the project’s units had been designate d as “affordable housing” and were priced at $139,000 per The development ran into problems because Direct was undercapitalized, without enough money to pay for expenses even afte r work was completed, says Walker Mathews, president of , generaol contractor for the project. He says the condos have greagt features, and construction was finished byApril 14, as promisef two years earlier.
“The unfortunate thingt is we got all the way to the finish and it turns intoa mess,” Mathews says. It is too early to tell what will happen withthe properties. John who has been appointed receiver ofthe project, will have to evaluats the potential avenues for disposing of the property, says John Kellehy of , which is representing the A Davidson County Chancery Court date is set for Wednesdayu for Cheatle to present his initial findings. The condod are just a portion of Metro Nashville’s larger Rolling Mill Hill revitalizatiomn effort, which has been in the workd for more than a decade.
A public-privat partnership between MDHA andselect developers, the projec t includes plans for retail shope and apartments. A timeline for the buildoutf remains unclear. But Tuesday’s filing includes only the threed existing residentialcondos — two new high-ris buildings and a renovated historic hospita l buildling. This isn’t the first setbac for the project. Last September, Baltimore-based , who had eyed the site on the west bank of the Cumberlanf River for amajor mixed-use closed its Nashville office and abandoned efforts with the development. Plans had calledc for 214 condos, a 224,000-square-foot officw building and up to 50,00p0 square feet of retail.
Metro has already put about $10 milliobn into the purchase of land and infrastructure for the condos and has establishedra $3.5 million tax increment finance zone around the project to pay off development bonds, says Joe Cain, development director for the housinh agency, which is acting as the maste developer for the area. But the city retainas no ownership of the property and has no futuree liabilityfor it, he says. The project has faced the same trouble as manynew condos, Cain says. “Justf like it’s hit everywhere across the these projects coming on line are havingh trouble gettingthe (units) sold,” he says.
This is the third large-scale condo development to go into receivership in the past six following5th & Main, just across the Cumberland Rivef from downtown Nashville, and the Braxton in Ashlandr City.
The Rolling Mill Hill condominiumws were forced into receivership Tuesday by a lawsuit filer by on behalf of itself andothef lenders. The suit also asks the court to allow foreclosur e onthe three-building project on Hermitage Avenue. The lenderw claims non-payment of $21.4 millio in construction loans taken out bythe property’se owners, , a Wisconsin-based holding company for the project’s investors. The original construction loanswere $42.78 million, but that amount was reduced in a loan amendmentg on Sept. 26. , out of Green Bay, was teaming with the to redevelopthe 34-acrew Rolling Mill Hill site sout h of downtown along the Cumberland River.
Direct had plannedx a $55 million project with four condo buildingsw on the site of theold , but cancelerd plans for one of the buildings last John Hopfensperger, president of said Tuesday that his firm was no longer involved in the and that the remaininv development was being handled by the investor RMH. A contact with RMH could not be reachedffor comment. The lenders’ suit says the loan has been in defaulysince Jan. 14, and the owners are now so short on cash that they were unabld to pay their utility which resulted in water service to the buildingd being shut offlast week.
Though the project was completerby mid-April, no units in any of the buildingds have been purchased, according to recordss with the Davidson County Register of Deeds. The roughly 75 condo s were primarly pricedbetween $230,000 to Fifteen of the project’s units had been designate d as “affordable housing” and were priced at $139,000 per The development ran into problems because Direct was undercapitalized, without enough money to pay for expenses even afte r work was completed, says Walker Mathews, president of , generaol contractor for the project. He says the condos have greagt features, and construction was finished byApril 14, as promisef two years earlier.
“The unfortunate thingt is we got all the way to the finish and it turns intoa mess,” Mathews says. It is too early to tell what will happen withthe properties. John who has been appointed receiver ofthe project, will have to evaluats the potential avenues for disposing of the property, says John Kellehy of , which is representing the A Davidson County Chancery Court date is set for Wednesdayu for Cheatle to present his initial findings. The condod are just a portion of Metro Nashville’s larger Rolling Mill Hill revitalizatiomn effort, which has been in the workd for more than a decade.
A public-privat partnership between MDHA andselect developers, the projec t includes plans for retail shope and apartments. A timeline for the buildoutf remains unclear. But Tuesday’s filing includes only the threed existing residentialcondos — two new high-ris buildings and a renovated historic hospita l buildling. This isn’t the first setbac for the project. Last September, Baltimore-based , who had eyed the site on the west bank of the Cumberlanf River for amajor mixed-use closed its Nashville office and abandoned efforts with the development. Plans had calledc for 214 condos, a 224,000-square-foot officw building and up to 50,00p0 square feet of retail.
Metro has already put about $10 milliobn into the purchase of land and infrastructure for the condos and has establishedra $3.5 million tax increment finance zone around the project to pay off development bonds, says Joe Cain, development director for the housinh agency, which is acting as the maste developer for the area. But the city retainas no ownership of the property and has no futuree liabilityfor it, he says. The project has faced the same trouble as manynew condos, Cain says. “Justf like it’s hit everywhere across the these projects coming on line are havingh trouble gettingthe (units) sold,” he says.
This is the third large-scale condo development to go into receivership in the past six following5th & Main, just across the Cumberland Rivef from downtown Nashville, and the Braxton in Ashlandr City.
Wednesday, January 26, 2011
DMHC licenses first
symowugebeda.blogspot.com
The Family Care plan will offer discounted access to a rangeof physician, pharmacy, outpatient (such as physical therapy and mental health), radiology and imaging, chiropractic, vision and hearing-care services. The program will offe r membership to a household fora $99 enrollment fee and a monthlh charge of $99.95, accordint to DMHC, with discounts rangin g from 5 to 40 percent for most However, the Houston-based health plan’s initiapl license is only valid for two reflecting caution on the part of the Sacramento-basesd agency, which previously has cracked down on variousd discount health-care card companies in the state.
Familyu Care is licensed to operatethroughout Marin, San Francisco, San Mateo, Santaa Clara, Napa, Santa Solano, Orange and San Diego as well as the most populated arease of Sacramento, Los Angeles, Riverside, San Bernardino, and 41 other according to the department, and a numbef of local providers are already listed on its www.familycarecalifornia.comm web site. The DMHC said the economic environment playe a role in its decision to approvrFamily Care’s application for a Thanks to the continuing economic downturn, which has resulteed in many individuals and families losinb health coverage, “it is in the best interest of consumers to regulate and license legitimate discountg health plans,” Cindy Ehnes, the DMHC’s said in a June 9 statement.
She addedf that licensure will ensure that consumerss will get promised discountsand “fully understaned that these products are not healtu insurance.” In the last six the agency’s Help Centef has received more than 925 complaintx from consumers who were victime of fraudulent discount health card the DMHC said. Those consumers were misledf into thinking they were purchasing regularr health insurance or were unable to find doctor s who supposedly had contracted with thediscount company.
The DMHC said it has issueed several Cease and Desist orders in an ongoing investigatiob into this growing which in turn led to settingb up a licensing structure to protecrt consumers and providestate oversight. As a some companies decided to seek licenses provingg they metregulatory standards. The current licensing requirements include verification ofdiscounts offered, legitimate contracts with doctorss and other health care truthful advertising, and a process for consumerx to resolve disputes with the according to DMHC.
Plans also must prominently disclose that they are notofferinyg insurance, but rather a discount productf through which members pay provideras a discounted fee, usually at the time of Family Care’s web site displays such a statement at the bottom of each web page.
The Family Care plan will offer discounted access to a rangeof physician, pharmacy, outpatient (such as physical therapy and mental health), radiology and imaging, chiropractic, vision and hearing-care services. The program will offe r membership to a household fora $99 enrollment fee and a monthlh charge of $99.95, accordint to DMHC, with discounts rangin g from 5 to 40 percent for most However, the Houston-based health plan’s initiapl license is only valid for two reflecting caution on the part of the Sacramento-basesd agency, which previously has cracked down on variousd discount health-care card companies in the state.
Familyu Care is licensed to operatethroughout Marin, San Francisco, San Mateo, Santaa Clara, Napa, Santa Solano, Orange and San Diego as well as the most populated arease of Sacramento, Los Angeles, Riverside, San Bernardino, and 41 other according to the department, and a numbef of local providers are already listed on its www.familycarecalifornia.comm web site. The DMHC said the economic environment playe a role in its decision to approvrFamily Care’s application for a Thanks to the continuing economic downturn, which has resulteed in many individuals and families losinb health coverage, “it is in the best interest of consumers to regulate and license legitimate discountg health plans,” Cindy Ehnes, the DMHC’s said in a June 9 statement.
She addedf that licensure will ensure that consumerss will get promised discountsand “fully understaned that these products are not healtu insurance.” In the last six the agency’s Help Centef has received more than 925 complaintx from consumers who were victime of fraudulent discount health card the DMHC said. Those consumers were misledf into thinking they were purchasing regularr health insurance or were unable to find doctor s who supposedly had contracted with thediscount company.
The DMHC said it has issueed several Cease and Desist orders in an ongoing investigatiob into this growing which in turn led to settingb up a licensing structure to protecrt consumers and providestate oversight. As a some companies decided to seek licenses provingg they metregulatory standards. The current licensing requirements include verification ofdiscounts offered, legitimate contracts with doctorss and other health care truthful advertising, and a process for consumerx to resolve disputes with the according to DMHC.
Plans also must prominently disclose that they are notofferinyg insurance, but rather a discount productf through which members pay provideras a discounted fee, usually at the time of Family Care’s web site displays such a statement at the bottom of each web page.
Sunday, January 23, 2011
Olbermann Gone. Who Cares? - Huffington Post (blog)
http://www.readingagency.org.uk/mt/mt-cp.cgi?__mode=view&blog_id=15&id=3097
Olbermann Gone. Who Cares? Huffington Post (blog) I have to preface this by saying I've never been a fan of Keith Olbermann. But then I've never been a fan of any particular commentator. ... |
Thursday, January 20, 2011
2 Opus subsidiaries facing bankruptcy - Business First of Columbus:
http://wndcfoundation.org/page/How-to-Revise-for-Your-Professional-Qualifications.html
Washington, D.C.-based Opus East LLC, an independent operating arm of Opus filed for Chapter 7 liquidatiohthis week. Sister company Opus West Corp. of Phoenic said it will file a voluntaryy petition for Chapter 11 bankruptcyt protectionthis month. The Opus Group is a full-service design-builed development firm that specializewsin office, industrial, retail, multifamily, government and institutionap projects. The weak economy and slouchingt market for industrial and office space led OpusNortbh Corp., a sister compangy of Opus East and Opus to close its Columbus developmentf office last week.
The Columbus office closed after arriving in the area in the earlu 1990s to build a distribution center for Whirlpool Corp. in Groveport. Opus Group said the bankruptcyh filings are a result of a steep decliner in commercial real estate valuea and difficult creditmarket conditions. The company also indicated that Opus Northn and Opus Northwest have been less affectedr by shaky economic conditions because of their mix of projecrt types instronger markets.
Opus West is explorintg restructuring options, the company
Washington, D.C.-based Opus East LLC, an independent operating arm of Opus filed for Chapter 7 liquidatiohthis week. Sister company Opus West Corp. of Phoenic said it will file a voluntaryy petition for Chapter 11 bankruptcyt protectionthis month. The Opus Group is a full-service design-builed development firm that specializewsin office, industrial, retail, multifamily, government and institutionap projects. The weak economy and slouchingt market for industrial and office space led OpusNortbh Corp., a sister compangy of Opus East and Opus to close its Columbus developmentf office last week.
The Columbus office closed after arriving in the area in the earlu 1990s to build a distribution center for Whirlpool Corp. in Groveport. Opus Group said the bankruptcyh filings are a result of a steep decliner in commercial real estate valuea and difficult creditmarket conditions. The company also indicated that Opus Northn and Opus Northwest have been less affectedr by shaky economic conditions because of their mix of projecrt types instronger markets.
Opus West is explorintg restructuring options, the company
Monday, January 17, 2011
Lastar Inc. fuels continued growth through online retailers - Dayton Business Journal:
http://olealawyers.com/2009/03/oleas-commitment-to-socially-conscious-lawyering/
Based on what each Web site shoppers often pressthe “click” button and the cable is addedd to the order. Because of partnershipzs with online retailers suchas , Moraine-basedf ’s products are the cables consumers are clicking to buy. These online retailers are helping fuel continued growthjfor Lastar, which grew sales 20 percenyt to $110 million last year, from $91.4 million in 2007. Lastar, whicbh makes and distributes cablesand connectors, has doubled revenuse from the $53.6 million it pulled in 2005. The company has about 800 global employees, compared to 370 in 2007. It has aboutf 220 employees in Moraine.
The founded in 1984, sells directly to consumerxs and retailers, and also througn key distributors suchas , a $34.3 billion, global information technology wholesale distributor. “Irt seems like the biggedr you get, the more you want and the more you want to saidMichael Shane, Lastar chairman and chieft executive officer. Back in 2004, the company built a strong fiel d sales organizationand “throttled up our programsd with big players,” said Bill Lastar president. In the course of severaol years, online sales have grownj significantly and Lastar has partnerexd with retailers through allthe growth.
Shopperws looking or buying online has increasedf steadilysince 2005, according to a study from Arlington, Va.-basesd . In 2008, one in five buyers expecrt to significantly or somewhat increase their purchases of electronicds products through the onlineretail channel, according the association. “The numbers suggest onlinw activity is onthe rise,” said Steve Kidera, senior communications coordinator at the And Lastar partners include , Buy.com, TigerDirect.com, PCconnection.comj and , an $8 billion a year technology product suppler. To land online Lastar educates them about its various cablesand components.
Lastar’s cable Cables to Go, sells more than 6,000p cord and connectors, allowing it to identify selling opportunities and also provide connectivity advice forpotentialp customers. Lastar also provides information and advicre forsmall retailers; in terms of product descriptions, technicalo specifications and layouts for electronic setups. That is importanrt because a $20 cable could be the hang-u when thousands of dollars in electronics are at When the wrong product is shipped or consumers will blame not onlythe re-seller, but coulc hurt the “Cables To Go” reputation. To keep positivd results, Lastar partners with the online retailerds to deliveron time.
It also offers a lifetime warrantg and a myriad of customeesupport avenues, via phone, e-mail and live chat. “Iyt starts with answering the phone e-mail fast and chat fast,” Diedericb said. “When you sell what we that ingredient is thefinal piece. The sense of urgenct is very high and quick responsea and knowledgeable sales people makethe difference.” A quic search on Amazon.com shows that Lastar’s efforts are paying off, as many of theirf cables and connectors have five-out-of-five star reviews from hundreds of consumers.
On too, Cables To Go products make up six of the 10 top sellingg items Despite its growingonline offering, the company is aboutt 10 percent down compared with 2008 due the economy and has even shed a few Shane said. Nevertheless, officials expect to double revenue everyfour years, thougy the current economy might stunt its growth for a “I don’t think (the slowdown) changes our aspirationw for growth over the long haul,” Shanwe said.
Based on what each Web site shoppers often pressthe “click” button and the cable is addedd to the order. Because of partnershipzs with online retailers suchas , Moraine-basedf ’s products are the cables consumers are clicking to buy. These online retailers are helping fuel continued growthjfor Lastar, which grew sales 20 percenyt to $110 million last year, from $91.4 million in 2007. Lastar, whicbh makes and distributes cablesand connectors, has doubled revenuse from the $53.6 million it pulled in 2005. The company has about 800 global employees, compared to 370 in 2007. It has aboutf 220 employees in Moraine.
The founded in 1984, sells directly to consumerxs and retailers, and also througn key distributors suchas , a $34.3 billion, global information technology wholesale distributor. “Irt seems like the biggedr you get, the more you want and the more you want to saidMichael Shane, Lastar chairman and chieft executive officer. Back in 2004, the company built a strong fiel d sales organizationand “throttled up our programsd with big players,” said Bill Lastar president. In the course of severaol years, online sales have grownj significantly and Lastar has partnerexd with retailers through allthe growth.
Shopperws looking or buying online has increasedf steadilysince 2005, according to a study from Arlington, Va.-basesd . In 2008, one in five buyers expecrt to significantly or somewhat increase their purchases of electronicds products through the onlineretail channel, according the association. “The numbers suggest onlinw activity is onthe rise,” said Steve Kidera, senior communications coordinator at the And Lastar partners include , Buy.com, TigerDirect.com, PCconnection.comj and , an $8 billion a year technology product suppler. To land online Lastar educates them about its various cablesand components.
Lastar’s cable Cables to Go, sells more than 6,000p cord and connectors, allowing it to identify selling opportunities and also provide connectivity advice forpotentialp customers. Lastar also provides information and advicre forsmall retailers; in terms of product descriptions, technicalo specifications and layouts for electronic setups. That is importanrt because a $20 cable could be the hang-u when thousands of dollars in electronics are at When the wrong product is shipped or consumers will blame not onlythe re-seller, but coulc hurt the “Cables To Go” reputation. To keep positivd results, Lastar partners with the online retailerds to deliveron time.
It also offers a lifetime warrantg and a myriad of customeesupport avenues, via phone, e-mail and live chat. “Iyt starts with answering the phone e-mail fast and chat fast,” Diedericb said. “When you sell what we that ingredient is thefinal piece. The sense of urgenct is very high and quick responsea and knowledgeable sales people makethe difference.” A quic search on Amazon.com shows that Lastar’s efforts are paying off, as many of theirf cables and connectors have five-out-of-five star reviews from hundreds of consumers.
On too, Cables To Go products make up six of the 10 top sellingg items Despite its growingonline offering, the company is aboutt 10 percent down compared with 2008 due the economy and has even shed a few Shane said. Nevertheless, officials expect to double revenue everyfour years, thougy the current economy might stunt its growth for a “I don’t think (the slowdown) changes our aspirationw for growth over the long haul,” Shanwe said.
Saturday, January 15, 2011
Positive Energy expands to Duke City - New Mexico Business Weekly:
http://goforadventure.com/kids_adventures.html
A full-service renewable energty company foundedin 1997, Positivee Energy has doubled in the past threed years. The company wanted a presence in Albuquerque and locatedx in EDO because of its proximity to the Rail Runne rcommuter train, which runs between Belen and Santa Fe. Tim McGivernb will be the company’s Albuquerque sales and servicew representative, PES customers include large commercial enterprises as well as smalle rresidential installations. Solar applications are increasing becausde of higherenergy costs, lowerr solar module costs and a 40 percent federal and statee tax credit available for qualifying applications.
The new office will be powere d by solar modules in the form of door and window awnings, and EPS is in preliminar discussions about a rooftop installatiob to power the common area of one of EDO condominiu m buildings.
A full-service renewable energty company foundedin 1997, Positivee Energy has doubled in the past threed years. The company wanted a presence in Albuquerque and locatedx in EDO because of its proximity to the Rail Runne rcommuter train, which runs between Belen and Santa Fe. Tim McGivernb will be the company’s Albuquerque sales and servicew representative, PES customers include large commercial enterprises as well as smalle rresidential installations. Solar applications are increasing becausde of higherenergy costs, lowerr solar module costs and a 40 percent federal and statee tax credit available for qualifying applications.
The new office will be powere d by solar modules in the form of door and window awnings, and EPS is in preliminar discussions about a rooftop installatiob to power the common area of one of EDO condominiu m buildings.
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