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Judge Caryl E. Delano of the ’sd Middle District of Florida, approved a plan Wednesdat that would turn over the Treasure Island Causeway clubto . Keys are expectesd to be turned over by the end of the day The changing of hands was part of a revisedx reorganization plan filed in March by theTennisz & Yacht Club following its Chapter 11 bankruptcy. “The court’sw ruling today provides a mechanisn for a distinct bank subsidiary to take total ownership of all club assets in a mannert thatis faster, less expensive and leastr intrusive to the operation” of the club, said John Anthonty of , who represented Regions Bank in the in a statement.
The takeover will allow Regions Bank to market the 17 waterfront acres topotential buyers, Anthonhy said. When the Tennis & Yacht Club filedr for bankruptcy, it reporte d assets and liabilitiesbetweejn $1 million and $10 The club’s largest unsecured creditor last October was of Palmetto for $13,502. However, the club owed Regionsx Bank as muchas $9.5 million, which ownedc the mortgage on the property. The club issued taxablwe variable rate demand bondsfor $6 million through Regions Bank in Septembert 2005 to help finance construction on a new which was completed in early 2008. The club issuecd a second bond in March 2006for $1 million and a third in April 2007 for $1.8 million.
Regionsd Bank provided letters of credit for according tocourt documents. The Tennis & Yachtg Club paid its principal on the debt in October but its efforts to have Regions Bank restructure the loan were forcing the club into Employees at the club are expected to remain on the payroll duringthe transition, and schedulee activities — including this weekend’sa Fourth of July event — will continue as planned, Anthony said.
The Tennis & Yachg Club was founded in 1986 and as of its bankruptc filing had450 members, according to court
الثلاثاء، 9 أكتوبر 2012
الاثنين، 8 أكتوبر 2012
MillerCoors opens $21.8M Chicago headquarters - St. Louis Business Journal:
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million. The new headquarters, at 250 S. Wacker for the joint venture thatcombinesw Milwaukee's and Colorado's will bring 325 jobs to according to a Daley press “The decision of MillerCoors to locate its headquarterss here strengthens our reputation as an important globalk center from which to conduct business and confirmsa that Chicago is seen as a desirables place to live, work and raise a family,” Daleh said at a news conference held at the company’s MillerCoors was created in June 2008 and plc of London and of Denver combined the U.S. and Puerto Rico operationds of their respective Millerand Coors, into the joint venture.
The brewer announcedf in July 2008 that it would locate the headquarterx in the neutral city of Chicaglo in fairness to the citiexs of Milwaukeeand Golden, Colo. The headquarterzs will include the majority of MillerCoorswsenior executives, as well as marketing, humanj resources, legal, finance, information technology and communicationes divisions. MillerCoors’ total projects costs are currently estimated tobe $21.8 million and include substantialk tenant build-out as well as improvements to a riverr walk just west of the building.
The city of Chicagp agreed to provide $6 million in tax incremental financiny funds for redevelopment of the In addition, the state of Illinois pledged an economifc package of roughly $18 million to lure MillerCoorw to Chicago over Dallas. MillerCoorsa has applied for silver levek certification under the Leadershipo in Energy and EnvironmentalDesign (LEED) Greejn Building Rating System of the U.S. Green Buildinb Council.
million. The new headquarters, at 250 S. Wacker for the joint venture thatcombinesw Milwaukee's and Colorado's will bring 325 jobs to according to a Daley press “The decision of MillerCoors to locate its headquarterss here strengthens our reputation as an important globalk center from which to conduct business and confirmsa that Chicago is seen as a desirables place to live, work and raise a family,” Daleh said at a news conference held at the company’s MillerCoors was created in June 2008 and plc of London and of Denver combined the U.S. and Puerto Rico operationds of their respective Millerand Coors, into the joint venture.
The brewer announcedf in July 2008 that it would locate the headquarterx in the neutral city of Chicaglo in fairness to the citiexs of Milwaukeeand Golden, Colo. The headquarterzs will include the majority of MillerCoorswsenior executives, as well as marketing, humanj resources, legal, finance, information technology and communicationes divisions. MillerCoors’ total projects costs are currently estimated tobe $21.8 million and include substantialk tenant build-out as well as improvements to a riverr walk just west of the building.
The city of Chicagp agreed to provide $6 million in tax incremental financiny funds for redevelopment of the In addition, the state of Illinois pledged an economifc package of roughly $18 million to lure MillerCoorw to Chicago over Dallas. MillerCoorsa has applied for silver levek certification under the Leadershipo in Energy and EnvironmentalDesign (LEED) Greejn Building Rating System of the U.S. Green Buildinb Council.
الأحد، 7 أكتوبر 2012
City Council approves MLS plan - Portland Business Journal:
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The move effectively decouplesthe $37 million PGE Park project from a proposef new $48 million baseballp park for Paulson’s minor-league Portland Beavers. Both the Beaverw and Paulson’s minor-league soccer franchise the sharedPGE Park. But because MLS requires soccer-specifi stadiums for its franchises, Paulson is pursuinf separate stadium projects for both But efforts to find a location for the baseballk parkhave stalled, leading to concernws that Paulson could miss his 1 deadline to secure a financinf plan for PGE Park. The MLS team would starrt playin 2011. Earlier attempts to placwe the stadium at the RoseQuartef failed.
Then late last week, Paulsonb announced he was pulling a requestr to locate the stadium in the Southeasrt Portland neighborhood of Lents after public support appearefd to turn againstthe plan. Paulsojn said he was committed to keepinb theBeavers “in Portland or the Portland evoking the specter that the club could leave the city limits. That led to a verbal rebukde from Commissioner RandyLeonard — a one-time ardentt supporter of the MLS plan — who threatened to withdraw his support for the PGE Park plan unlesss Paulson reconsidered.
But now the city appears to be looking into possiblsthird sites, and Leonard supported the resolution The bill passed 4-1, with Commissioner Amanda Fritz casting the lone opposition Paulson, in a statement, said he looks forwars to working with city officials on a financing deal for PGE Park.
The move effectively decouplesthe $37 million PGE Park project from a proposef new $48 million baseballp park for Paulson’s minor-league Portland Beavers. Both the Beaverw and Paulson’s minor-league soccer franchise the sharedPGE Park. But because MLS requires soccer-specifi stadiums for its franchises, Paulson is pursuinf separate stadium projects for both But efforts to find a location for the baseballk parkhave stalled, leading to concernws that Paulson could miss his 1 deadline to secure a financinf plan for PGE Park. The MLS team would starrt playin 2011. Earlier attempts to placwe the stadium at the RoseQuartef failed.
Then late last week, Paulsonb announced he was pulling a requestr to locate the stadium in the Southeasrt Portland neighborhood of Lents after public support appearefd to turn againstthe plan. Paulsojn said he was committed to keepinb theBeavers “in Portland or the Portland evoking the specter that the club could leave the city limits. That led to a verbal rebukde from Commissioner RandyLeonard — a one-time ardentt supporter of the MLS plan — who threatened to withdraw his support for the PGE Park plan unlesss Paulson reconsidered.
But now the city appears to be looking into possiblsthird sites, and Leonard supported the resolution The bill passed 4-1, with Commissioner Amanda Fritz casting the lone opposition Paulson, in a statement, said he looks forwars to working with city officials on a financing deal for PGE Park.
الجمعة، 5 أكتوبر 2012
Darden to open 10th Seasons 52 - Orlando Business Journal:
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making it the chain’s 10th location. The new locatiojn in the King of Prussia Mall is the secone eatery the chain will have openedf outsidethe Southeast, the first one being a restaurant that debutedr in March in Cherry Hill, N.J. The news also markxs the second new restauranr announcement chainowner (NYSE: DRI) made this year. The company announced plans in June to open its nint locationin Tampa, also in sprinfg 2010. Prior to that, Darden hadn’t opened a new Seasons 52 in more than two In its fiscal2009 fourth-quarter earnings conference call last Orlando-based Darden said it plans to open up to threer Seasons 52 restaurants in fiscal 2010.
The concept continue to deliver strong unit volumes in the fourtbh quarter despite thechallenging environment, the company said in the Seasons 52, which debuted in operates locations five existinb locations in Florida — including Orlando and Altamonte Springe — as well as eateries in Georgia and New
making it the chain’s 10th location. The new locatiojn in the King of Prussia Mall is the secone eatery the chain will have openedf outsidethe Southeast, the first one being a restaurant that debutedr in March in Cherry Hill, N.J. The news also markxs the second new restauranr announcement chainowner (NYSE: DRI) made this year. The company announced plans in June to open its nint locationin Tampa, also in sprinfg 2010. Prior to that, Darden hadn’t opened a new Seasons 52 in more than two In its fiscal2009 fourth-quarter earnings conference call last Orlando-based Darden said it plans to open up to threer Seasons 52 restaurants in fiscal 2010.
The concept continue to deliver strong unit volumes in the fourtbh quarter despite thechallenging environment, the company said in the Seasons 52, which debuted in operates locations five existinb locations in Florida — including Orlando and Altamonte Springe — as well as eateries in Georgia and New
الخميس، 4 أكتوبر 2012
iPhone 5 sleuth work points to $199 component costs - Reg Hardware
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iPhone 5 sleuth work points to $199 component costs Reg Hardware iPhone 5 sleuth work points to $199 component costs. Virtual deconstruction. By Tony Smith • Get more from this author · 19th September 2012 09:32 GMT · Want a new cell phone or contract? Amazon Wireless. Each iPhone 5 costs Apple $207 to make, it has ... |
الثلاثاء، 2 أكتوبر 2012
FDIC: Banks rebound to $7.6B profit - Dayton Business Journal:
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billion in profits in the first down 60.8 percent from the $19.34 billion the industry earned in the first quarter of 2008. However, the latest figures are an improvemenft over therecord $26.2 billion loss the sectore suffered in the fourth quarter. Higher loan-loss provisions, increased goodwill write-downs and reducefd income from securitization activities all contributed tothe year-over-yeae earnings decline.
Three out of five insured institutions reported lowefr net income in thefirstt quarter, and one in five was “The first-quarter results are telling us that the banking industruy still faces tremendous challenges, and that goin g forward, asset quality remains a major concern,” says FDIC Chairmanj Sheila Bair. “Banks are making good effortws to deal with thechallenges they’re but today’s report says that we’rs not out of the woods To that point, 21 FDIC-insuredx institutions failed during the first quarter the largest number since the fourthy quarter of 1992. Insured institutions set aside $60.
9 billion in provisionzs for loan losses in thefirst That’s up $23.7 billion, or 63.6 percent, from the first quartef of 2008. Expenses for goodwill impairment andotheer intangible-asset expenses totaled $7.2 billion, up from $2.8 billion a year Those negative factors outweighed the positiver effects of increased noninterest income (up $7.8 or 12.8 percent) and higher net interest income (up $4.4 or 4.7 percent). Insured institutions charged off $37.78 billion in bad loans in thefirsr quarter, almost twice the $19.
6 billion of a year Tier 1 capital reached a record high of almostg $70 billion, the largest quarterly increase ever reported by the However, much of the increase occurred at institutions that received capital from the U.S. Treasury Department’e Troubled Asset Relief Program. Total assets declined by $302 billion due to downsizinyg by a fewlarge banks. Two-thirds of all institutions reportedx asset growth inthe quarter, but reductions at eighft large banks caused the industry total to decline. Total loans and leases fell by $159.76 billion (2.1 percent), while assets in tradinfg accounts declinedby $144.5 billion (14.9 percent).
billion in profits in the first down 60.8 percent from the $19.34 billion the industry earned in the first quarter of 2008. However, the latest figures are an improvemenft over therecord $26.2 billion loss the sectore suffered in the fourth quarter. Higher loan-loss provisions, increased goodwill write-downs and reducefd income from securitization activities all contributed tothe year-over-yeae earnings decline.
Three out of five insured institutions reported lowefr net income in thefirstt quarter, and one in five was “The first-quarter results are telling us that the banking industruy still faces tremendous challenges, and that goin g forward, asset quality remains a major concern,” says FDIC Chairmanj Sheila Bair. “Banks are making good effortws to deal with thechallenges they’re but today’s report says that we’rs not out of the woods To that point, 21 FDIC-insuredx institutions failed during the first quarter the largest number since the fourthy quarter of 1992. Insured institutions set aside $60.
9 billion in provisionzs for loan losses in thefirst That’s up $23.7 billion, or 63.6 percent, from the first quartef of 2008. Expenses for goodwill impairment andotheer intangible-asset expenses totaled $7.2 billion, up from $2.8 billion a year Those negative factors outweighed the positiver effects of increased noninterest income (up $7.8 or 12.8 percent) and higher net interest income (up $4.4 or 4.7 percent). Insured institutions charged off $37.78 billion in bad loans in thefirsr quarter, almost twice the $19.
6 billion of a year Tier 1 capital reached a record high of almostg $70 billion, the largest quarterly increase ever reported by the However, much of the increase occurred at institutions that received capital from the U.S. Treasury Department’e Troubled Asset Relief Program. Total assets declined by $302 billion due to downsizinyg by a fewlarge banks. Two-thirds of all institutions reportedx asset growth inthe quarter, but reductions at eighft large banks caused the industry total to decline. Total loans and leases fell by $159.76 billion (2.1 percent), while assets in tradinfg accounts declinedby $144.5 billion (14.9 percent).
الاثنين، 1 أكتوبر 2012
A.M. Best affirms Northwestern Mutual's high ratings - Houston Business Journal:
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A.M. Best affirmed its financial strength ratings ofof A++ and issuer credit ratings of “aaa” of Northwesterh Mutual Life Insurance Co. and its subsidiaruy The outlook for both ratingwsis stable, the Oldwick, ratings organization said The ratings reflect Northwestern Mutual’s sizable and mature individual life insurance conservative operating profile, strong operating performancr and superior risk-adjusted capitalization, A.M. Best Partially offsetting those positive rating factors was the recenf decline inNorthwestern Mutual’sd adjusted capital and surplus due mainlt to realized and unrealized investment A.M. Best said. A.M.
Best also note that Northwestern Mutual maintains an above average aggregate exposurs to privateplacement bonds, belos investment grade, or "junk," bonds, commercial mortgagee and equities. Despite NM increasingh the total number of financial representatives over the pastcouplde years, Northwestern Mutual may be challenged to continude to grow the number of sales professionals while maintaininb current levels of retention and productivity over the long term, A.M.
Best
A.M. Best affirmed its financial strength ratings ofof A++ and issuer credit ratings of “aaa” of Northwesterh Mutual Life Insurance Co. and its subsidiaruy The outlook for both ratingwsis stable, the Oldwick, ratings organization said The ratings reflect Northwestern Mutual’s sizable and mature individual life insurance conservative operating profile, strong operating performancr and superior risk-adjusted capitalization, A.M. Best Partially offsetting those positive rating factors was the recenf decline inNorthwestern Mutual’sd adjusted capital and surplus due mainlt to realized and unrealized investment A.M. Best said. A.M.
Best also note that Northwestern Mutual maintains an above average aggregate exposurs to privateplacement bonds, belos investment grade, or "junk," bonds, commercial mortgagee and equities. Despite NM increasingh the total number of financial representatives over the pastcouplde years, Northwestern Mutual may be challenged to continude to grow the number of sales professionals while maintaininb current levels of retention and productivity over the long term, A.M.
Best
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