Thursday, July 28, 2011

Portland-area economy weakens Q1 - Boston Business Journal:

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percent, an accelerating decline compared tothe 13.5 percent (revised) drop in the fourthu quarter of 2008. Of the nine indicatorz included inthe index, six declined said Tim Duy, director of the Oregon Economic Forun and a UO adjunct assistant professor, Labo r market trends continue to Help-wanted advertising in The Oregonian fell during the quarter, consistent with a decreas in hiring demand. Similarly, initialo unemployment claims continuedto rise, reaching a month average of 16,819 claims. Non-farm payrollsx continue to fall as under the dual forcesw of increased layoffs and slack hiring payrollsstand 3.
9 percent lower than year-ago The expected slowdown in lodging activity finallyg came to pass, said Duy,with estimatedr lodging revenue (seasonally and inflatiobn adjusted) down 15.4 percent from the fourtb quarter. Passenger traffic at Portland International Airportt was effectively unchanged from thepreviousa quarter. Housing markets were generally Housing sales wereeffectivelyt unchanged, while average days-on-market partially offsetting a particularly sharp rise in the fourtbh quarter of 2008, attributable to the intensification of the financialk crisis and unusual weather conditions, said Duy.
Ongoinyg declines in the in point to continued economif deterioration in the Portland he added. Signs of stabilization are difficult to he said; expectations for a firming of economic activith in the second half of 2009 are largelh based on some tentative signs of stability in the nationaol economy. Moreover, the impacyt of fiscal and monetary policies should become more evident as theyear Still, the pace of the recovery is expecterd to be subdued as the economy adjusts to an environmentf less dependent on debt-supported consumer spending growth.

Saturday, July 23, 2011

SunTrust to raise $1.4 billion in stock offer - Birmingham Business Journal:

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billion through a stock offerinyg to boost its capital to meet federalgovernmentf requirements, the Atlanta-based bank said Monday. The Atlanta-based bank wantz to sell 108 million sharesat $13 a In relation to the SunTrust (NYSE: STI) suspended its previouslyt announced $1.25 billion “at the market” which raised $260 million. Further, SunTrustg began an offer to buy upto $1 billiomn liquidation preference or amount of certain of its currently outstanding preferrede and hybrid securities for cash usinhg proceeds from the $1.4 billionh equity offering. The moves come after the federap government’s “stress test” found SunTrust needed to raise $2.
2 billion in capital. And while SunTrust had sufficient tier 1 capitap to absorb projectedloan losses, its capital “tilted too to sources other than common the stress test revealed. After completing the offeringsw announced Monday and SunTrust expects to have fully satisfiedsits obligation. "Today's announcement underscore s that we are on a clear path to achievse our previously announced capital objectives as we intensify our focu onthe future," said James M.
Wells III, SunTrust chairman and CEO, in a Wells also noted completion ofthe company'as capital-related initiatives will boost its ability to repay, upon regulatory approvak and at the appropriate time, preferred stoclk gotten through participation in the U.S. Treasury's Capitapl Purchase Plan.

Thursday, July 21, 2011

Minneapolis / St. Paul Business Journal: Minneapolis / St. Paul Commercial Real Estate Listings - View Commercial Real Estate

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Sunday, July 17, 2011

European companies seek stimulus money to locate in Jacksonville - Dayton Business Journal:

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European alternative energy companies, such as , a subsidiarg of a French company, and an Italian biodieselp company that the has yet to want to come to Jacksonville for some of the same reasona other European companies have recentlylocatedd here: Access to the port and the growing Southeast market, cheaper skilled labor and manufacturing their goodas closer to American consumers. “The big guys in alternative energy are Europeahbecause they’ve had government said Michael Breen, director of internationap development for Cornerstone, the chamber’s economiv development arm. “Now that we’re getting governmenrt support, it makes more sensw for them tocome over.
” Government incentives contained in the federal stimulus program are the big draw for the Saft America won’t build a $200 million facility at Cecil Commerce Center and employ about 800 unlesx it gets a $100 million grant through the stimulus package, said Peteer Denoncourt, vice president of manufacturing for the company’s Ga., plant. The company expectsz to find out in July whether it can tap intothe $1.5 billiobn available for manufacturers of high-efficiency batteries. “We’res pretty optimistic,” Denoncourt “We’re one of the technologt leadersand we’ve been building lithium-iomn batteries for decades.
” spokeswoman Jen Stutsmanh said the department received 165 grant applications by the May 19 She didn’t know the total amount of money requestedd in the applications. Like Saft America, the Italianb company that produces biodiesel fuel from oldtired won’t come to town unlessw it can get tax credits from the city and incentives through the stimulus package. The company, whichj would bring about 15 jobs, is expected to confirj its plans in aboutthree months. Anothee Italian company that the chamber has yet to identifyg extracts silicon from rice huskws to build solar panels and is also considerin opening a plantin Jacksonville, Breeh said.
Several European wind turbine manufacturersd are also interested in opening plants in but their businesses are also dependenyt on plugging into the alternative industrh provisions in the stimulus Denoncourt said Saft Americaa was attracted to Jacksonville becauswe ofthe area’s U.S. Navy-trained work which has the skills needer toproduce lithium-ion batteries. The batteries will be sold to the U.S. militarh for a hybrid fleet that ranges from trucks to The lithium-ion batteries are also increasingly used in passengeer planes because they are about a third lighted than conventional nickel-cadmium batteries and so reducse the amount of fuel the planes use, Denoncouryt said.
The lithium-ion batteries that he hope to produce in Jacksonville would also be sold to the telecommunicationsd industry since their smaller size gives provideras more backup power without forcing them to altefr the infrastructure to handlebigger batteries. The planned manufacturintg facility would also develop batteriee capable of storingalternative energy. If Saft Americ builds a facilityin Jacksonville, it would add prestige to the area and possiblyh spur more alternative energg companies to consider moving to Breen said. The city recentlgy formed a committee headed by President Matt Kenyon to attrac more alternativeenergy companies.
Aside from being certifiedf tobuild energy-efficient buildings, Dana B. Kenyonb is tapping into federal stimulus funding througn its energyconsulting division, kpower. , whicj is based in Jacksonville, has alreadty been helped by the alternative energyg provisions in thestimulus package. It expects its annual revenue to doubledto $12 million this year, said Wayn Hildreth, the company’s president. The company, which providesz consulting and installation of wind turbinesd for schoolsand businesses, benefited from the stimulu s package’s 30 percent investment tax credit.
Wind Energy expectas to double its work force of nearly 30 by the end ofthe

Thursday, July 14, 2011

Comic Book Review: Damaged #1 by Michael and John Schwarz, David Lapham and ... - Seattle Post Intelligencer (blog)

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Comic Book Review: Damaged #1 by Michael and John Schwarz, David Lapham and ...

Seattle Post Intelligencer (blog)


Self-rated "mature," Radical Comics' six-ish mini-series Damaged opens on a suitably violent note. In it, a heavily scarred Frankenstein-ian figure with a police badge scar on his chest walks into a redneck bar in ...



and more »

Tuesday, July 12, 2011

Quantum Group moves to AMEX - Kansas City Business Journal:

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million - and is now listed on the AmericannStock Exchange. The Wellington-based companyy will trade under thesymbol "QGP." It formerlyg traded on the Over the Counter Bulletin Board undeer the symbol "QGP.U." The Quantum Group provides administrative and support to organizations that market Medicar e Advantage managed health care plans and health care providerw in Florida through its subsidiaries, includinfg Renaissance Health System of Florida. The offering consisted of 1.
2 milliobn units of three shares ofcommon stock, two seven-yearr non-callable Class A warrants and two seven-year non-callable Class B Quantum plans to use the proceedsw to further develop its medical servicd provider networks and managemen support services, repay debt, expand its technology pay accrued compensation to its executiver management and as general workingf capital. acted as the lead managetr on the offering, and and actef as co-managers. Shares closed at $3.25.

Sunday, July 10, 2011

Free Chick-fil-A meal on July 10 - Boston Business Journal:

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The giveaway is part of the Atlanta-basefd chain’s fifth-annual Cow Appreciation Day, which honors its "Eayt Mor Chikin" Cows. In a related parents can enter photos oftheir cow-clad childre n as part of a "Show Us the online photo contest, for a chance to win a $1,009 U.S. Savings Bond. Between now and Aug. 31, childrenj ages 10 and younger are encouraged to work with an adult to submirt creative photos of themselves dressedas cows. The contesrt Web site, www.CowAppreciationDay.com, has details about uploadint photos forthe contest. Once the picturez are uploaded, the public can vote for theidr favorite photothrough Aug. 31.
The 20 photographs that get the most Interneg votes will benamed semifinalists. From the semifinalists, Chick-fil-A will selecty five finalists and one grandf prize winner based onoverall quality, appearance, creativity and skill. The entrant's age will be takenj into accountfor judging, Chick-fil-Az said. The grand prize winner will receivea U.S. Seriesa EE Savings Bond with a maturity valuwof $1,000, a catered partuy for their classroom, free Chick-fil-Aq Kid's Meals for a year and a digita camera, among other gifts. Also each Kid's Meal from June 22 to July 25 will included miniatureCow figurines, while supplies last.
One out of every 100 of the cows will have gold spotds instead of the traditional blacm spots and will be packaged with a card redeemable for a freeIce

Thursday, July 7, 2011

Bright idea: Marvin Dufner makes millions recycling bulbs - Pittsburgh Business Times:

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After building his fluorescent light bulbrecycling company, H.T.R. Inc., into a national playef with customers thatinclude , Walgreens, and Dufner sold the business in March to Houston-basedr an estimated $12 million. H.T.R.’z revenue reached $6 million last 17 times more thanthe $350,000 the companu made when Dufner bought it in December 1999. A decadw ago, the business recycled about 30,000 fluorescent bulbs a month to keep hazardous mercury out of landfills andwaterd supplies.
That number reached about 18 million bulbs a year by the time of the Dufner andRaymond Kohout, his minorityg partner and chief operating officer, decided they needecd to either invest a large amount of capital to open additiona l recycling facilities or find a strategic partner or buyer for thei r business. Dufner turned to lifelong friend James Stuaryt ofin Clayton. Stuart reached out to contacts atWaste Management, and after about a year of he helped broker H.T.R.’s sale.
Dufner estimated fluorescent bulb recycling isa $100 millionh to $150 million Analyst Michael Hoffman of in Baltimore notexd that garbage disposal is a $52 billion industryh and medical waste disposal accounts for another $3 billion to $4 Add-on services such as recycling can help a company win additionalk market share. “One of Waste Management’s core goals is to grow its medica waste business toabouyt $300 million in revenue in the next 24 Hoffman said. “Now they can walk into health-carer facilities and hospitals and offeer to dispose of their medical regular trash and also theirfluorescent bulbs, which for a hospital is no smalpl thing.
” Waste Management, North America’s largestf waste disposal company, posted net income of $1.0o billion on revenue of $13.4 billion last year and employw about 46,000. Dufner, 54, grew up in Granitr City and St. Louis, attending and at In 1991, he bought one of the first franchisex ofEarth City-based Dent a company that provides paintless dent removal for Dufner moved to Atlanta to run his territory of Georgiz and Alabama. But in 1998, Atlanta-based acquired Dent Wizard and proceedeed to buy outits franchisees.
Dufner sold his business for aboutg $5 million, and at age 45 foune himself looking for a new In 1999, while at the Lake of the Dufner struck up a conversation with an employere of H.T.R., a three-year-old company then basedx in the small town of Golden City in southwest A new federal law regulatinhg the management of wast containing hazardous materials such as mercury had just gone into but H.T.R.’s 14 investors were short on funds to take advantag of potential growth. Dufner bought them out “for a very low and took over the business as Dufnerrecruited Kohout, a friend who owned a gun stors in St.
Louis and was familiafr with dealing with government regulators, to help run the business and expane its service area nationwide. They invested in some tractor-trailers and started picking up burned-out fluorescent bulbzs from all over the countrt and hauling them back to Missourifor processing. Over the next few they relocated the plant to its current locatioin Kaiser, Mo., near Lake As Dufner improved customer service and the speed of waste pickup using third-party freight companies, business boomed. Beginning in H.T.R. secured contracts with Wal-Mart to pick up and recyclwe used bulbs.
Other large several colleges and universities, and states such as Iowa and Missourk also signed upwith H.T.R. All of the materia in the bulbs H.T.R. picked up — mercury, metal and glass was recycled. None went to landfills. But with the Dufner and Kohout also found themselves facing a Expand to keep up withincreasing volume, or find someonde who could do so for “The right way to do it would be to builsd two more recycling plants, one on the West Coast and one on the East to cut transportation distances and freight Dufner said. “Ray and I can’t be in three placesz at one time.
It was goinhg to require a lot more capitalo to open two new facilities and managrethem properly.” So Dufner, who has children ages 3 and 5 with his Renee, decided to look for a buyer last year and eventuallyg struck the deal with Wastee Management. “We thought would make a good fitfor us,” said Rick senior business director for Waste Management’s WM Lamptrackert division. “Over 70 percent of fluorescent lighting in the countrystillk isn’t recycled properly, and that’s where we thinok the upside is.
” The and many statews are targeting a fluorescenty recycling goal of about 75 percent, Kohout Some 800 million fluorescent lamps burn out each and now millions of residential light sockets are also switching from incandesceng to compact fluorescent light bulbs (CFLs). Although Missouri does not requirse residential recyclingof CFLs, many statesw do, he said. “The timing was said Kohout, who continues to run the former operations withinWM Lamptracker. “We are now the largestf lamp recycler in the and Waste Management is really pushing the sustainabilitg andrecycling front. We’vr had nine years of double-digit and we’ve just gotten started.
” As for he is building a home in Ladue and has notdecidec what, if anything, he will do “Am I looking for something? Possibly, but not Dufner said. “That’s how H.T.R. I wasn’t really looking and then it fell inmy

Tuesday, July 5, 2011

Eden Alley goes above its duty - Kansas City Business Journal:

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Eden Alley Cafe does. The restauranty is located on the lower level ofthe , which handlesw garbage pickup for the building. But Eden Alley, a vegetariamn restaurant, pays $230 a month to have Recyclinfg dispose of everythingfrom food-preparation leftovers to the stuff customersa leave on their plates. The garbagew is placed in a black, 95-gallon bin in back of the and Missouri Organic picks it up three timeaa week. Missouri Organic, which is locatedf near the at7700 E. U.S. Highway 40, adds the would-bde trash to yard waste.
The result is a soil enrichef the company calls Nature Wise EdenAlley co-owner Greg Clootz said the additional bill is worth it because of the societalp expense of throwing thing s away. The cafe has been contractinvg with Missouri Organic for abouftthree months, diverting about 90 percent of the cafe’ds food waste from the landfill. In busineszs since 1992, Missouri Organic’s Food Residuals Environmentap Diversion program processesbetween 12,000 and 15,000 tons of food waste a Vice President Kevin Anderson said. Contributors include large industrial clients such as the facilityin St. Joseph and ’s soybean-crushinfg plant southeast of Interstate 35 andFrony Street.
Eden Alley’s output of roughlu 400 pounds a week is peanutz compared withthose giants, but Anderson said it just goes to “Everybody has their part to play. Nothin is too small, I guess is the thing.” Eden Alley has been in business for nearlhy15 years, and the Missouri Organixc contract is just one of its greej initiatives. For instance, it buys environmentally friendlyh to-go containers and cutlery fromKansas City-based and Eco-Productx in Boulder, Colo. Compostable cutlery costse about 6 centsan item, Clootz said.
Regular plastic utensils cost abouta half-cent Eden Alley gradually has expandec its green initiatives because of thei expense, but Clootz said it’s worth every penny. “It’s one ecosystemm — our body and the Earth,” he “What you put out theree is whatyou get. So at some point, it’sa got to change somewhere.”

Sunday, July 3, 2011

Constellation Energy to start negotiations on loan for new Calvert Cliffs reactor - Baltimore Business Journal:

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The department has moved Baltimore-based Constellation’s (NYSE: CEG) applicatiobn along with those of three other proposed reactors to a finalkreview process. The Maryland at Calvert Cliffs, had been said to be on a shor t list of projects likely to get some ofthe $18.5r billion available in federal loan guarantees. Constellation coulxd have a loan guarantee commitment by the end of the but thecompany hasn’ft made a final decision to go aheadr with the project, spokeswoman Maureen Brown But site preparation could begin soon after receivinv a guarantee, moving forward a projectf that is expected to create thousands of jobs and help boostt the region’s energy grid.
UniStar Nuclear Energy, a jointf venture between Constellation and Frenchcompanty , would be the developer of the new “The decision by the Department of Energy adds substantiap momentum to a proposed Calvert Cliffs Unit 3 nuclearr facility, and with it, thousands of new construction jobs and permanent positions,” Michael J. Wallace, vice chairman for Constellatiom Energy and chairman of UniStartNuclear Energy, said in a statement. “UniStar is eager to move forward with detailed due diligence and negotiations with the Departmentof Energy.
” There were 19 applicants for the loan which provide lower interest ratesd to finance up to 80 percent of planr construction costs.

Friday, July 1, 2011

BioMed refinances Center for Life Science - Triangle Business Journal:

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The five-year, fixed-rate loan was used to pay off a portion of anexisting $507.1 millio construction loan, with BioMed paying off the remaining balance using an unsecured line of The new mortgage has an interest rate of 7.75 percent and is due in June 2014. According to a statement from the new loan addressesthe “lasrt of BioMed’s debt maturities in 2009.” The loan was providedc by , and AG. arranged the loan on behal of BioMed RealtyTrust (NYSE: a real estate investment trust based in San Calif. The 18-story lab and office buildingv is located in the Longwood Medical and Academic Area and is leasecto , , , and Ltd., a Japaness pharmaceutical company.
The property also includes a six-level, 750-space underground parking garage. BioMed Realtt Trust owns or has interests in69 properties, representinbg 112 buildings with approximatelh 10.5 million rentable squar e feet, including approximately 640,000 square feet of development in progress.