ogyhejowy.wordpress.com
This week Winn, who will be 70 in August, officiallt handed the reins over tohis son, Gilbert, 31, who has been workingt for his father for six years. The handoff comeds at a time when Winn has endured intensd scrutiny for his involvement withthe now-stalled Columbus Center air-rights project and a donation to former state Sen. Dianne Wilkerson, who was arresterd after allegedly being caught on tapeaccepting bribes. Winn made a $10,00o donation to a fund Wilkerson had legally set up to help with herpersonalp finances. Two years later she soughtr $4.3 million in help for the ColumbuwsCenter project.
He said the only feeliny he has about theWilkerson matter, for whicb he received a subpoena, is “greatr sadness.” While the public subsidies tied to the private Columbues Center caused outrage and damaged Winn’ s reputation, the elder statesman of the local real estate communit said this week he wanted to step down not becausw of the media attention but before a stroke, or worse, force him to transition the company under duress. Long ago, Winn heards a statistic that entrepreneurs often changse the direction of the company only after a chaotiv situationor life-altering event.
One could say spending 11 years and endurint 120 public meetings to get Columbud Center approved qualifies as a chaoticor life-changingv event. When asked about Columbus Center and whethet he regretsthe endeavor, he motions to a whiter leather couch in his officew as if he’ll need therapy to get over it. “Thre episodic nature of it I could not he said. “I did not anticipate the controversuy and probablyshould have.” The proposed development would have spanned the Massachusettsa Turnpike and linked the neighborhoods of the Back Bay and Soutn End.
The project, originally $600 million, escalated to $800 milliob and he began lobbying the state for Winn invested morethan $40 milliomn of his own money to keep Columbux Center going. The credit cruncuh took the project outof Winn’s hande and subjected it to markett forces making securing debt for construction projects impossible. The project was unable to move forwarcand Winn’s partner, , backed out on a $430 milliobn construction loan. Winn is now a minority partne in the project being run by the CaliforniwPublic Employees’ Retirement System since March 2007. “Thi s was like an insurmountable opportunity,” said Winn.
“(If is) the opportunity to unite two neighborhood s and do something that is long overdue andwoulrd be, and still feel will be, an amazing development for the Before Winn launched the Winn Cos. in 1971, he worked for getting his start in the business alongsideRonaldf Druker. Both worked for Druker’s now-deceased Bertram. Druker said Winn has viewed Columbud Center as both a source of great pridand aggravation. Close associates of Winn’s said the developer’s desire to leave a legacy prompted him to pursue the riskyh project and entangle himself in apolitical fiasco. “ suspect the last chapter has not been said Druker ofColumbus Center.
“Only time will tell whetherr all that work will bear fruir and havebeen productive.” Winn’s reputation, before Columbus was based on his yearsw of work developing affordabl housing. His credits include being the largest owner and manage r of affordable housing in New Englanfd and among the largest in the Winnowns 11,000 units and manages 75,000 unitx of housing in 23 states. For the decision to dial it back has been in the makinvg for afew years. Winn rarely workss a full week and oftenn comes inafter 12:30 p.m. Gilbert will assumer the role of managing principal and longtime partner Lawrencde Curtis will be presidenftof WinnDevelopment.
Winn anticipates Gilbert will capitalize onthe company’xs solid financial footing and pursue acquisitioh opportunities in a distressedr market. “They’re going to grow in the directiomn theysee opportunity,” said Winn of his son and Curtis. His own role at the real estatee development company he founded 38 years ago will now be one of cheerleaderdand consultant, advising and trying not to annoy his he said. Winn described himself as hard-charginbg and a Type A personality who will have a hard time not insertinhg himself in the daily operations ofthe company.
“I thinmk I’ve accomplished as much as I canand I’nm happy not to wait for a crisis,” Winn
Monday, October 31, 2011
Saturday, October 29, 2011
The Democrats' budget mishmash - Washington Post
http://www.0et0.com/2006/babyboysr.html
The Democrats' budget mishmash Washington Post Regarding the Oct. 27 front-page article “Democrats make offer: $3 trillion in cutsâ€: This is amazing logic. Democrats ask the congressional supercommittee to pursue a “deal to slice $3 trillion from the federal budget over the next decade through an ... |
Wednesday, October 26, 2011
St. Louis Business Journal: Business Events Calendar
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Once approved, your event listing will appead on the Calendar until the day afteer the date you enter as its end For example, if you enter June 8th as your event'a end date, your listing will be removed from the Calendar at 12:09 a.m. on June 9th. Once I list an how long does it take before it is postedx to the Business Events Calendar To maintain the professionalk integrity ofour site, each listinv must go through an approval processx prior to being posted to the Events In most cases, this occurs within a few with the maximum being 24 hours. Can I post my eventr listing as far in advanceas I'd like? Yes, you can post eveny listings days, weeks or months in advance.
They will appearf on the Calendar until the day afte ryour event's end date. Will my event listinh also appear in the print editiojn of theBusiness Journal? No, the Businesse Events Calendar is an online-only any events posted through this system will only appear online. If I want to list a recurrint eventeach month, do I have to enter each one separately?? Yes, each month's event would be consideredr as a separate listing. There may be discount s for multiple listings. Please contact us and a representativs will work with you to create a customized package to suit your Contact information is available from the Can I selectg more than one categorg for myevent listing?
No, each eventg listing can only fall under one If more than one category applies to your eveng listing, we recommend choosing the one that is most If I have a Business Events Calendar promotional/discount code, can I use it in any of bizjournals'' 42 markets? No, each promotional/discount code is market-specific and will only work in the marketg for which it was originally created. What shoulx I do if I need to make changes to my eventf listing after it has beenposted online?? Please contact our local office. Information is available from the Who shoule I contact if I would like to purchasd an event listing over the phonversus online?
Please contact our local Information is available from the
Once approved, your event listing will appead on the Calendar until the day afteer the date you enter as its end For example, if you enter June 8th as your event'a end date, your listing will be removed from the Calendar at 12:09 a.m. on June 9th. Once I list an how long does it take before it is postedx to the Business Events Calendar To maintain the professionalk integrity ofour site, each listinv must go through an approval processx prior to being posted to the Events In most cases, this occurs within a few with the maximum being 24 hours. Can I post my eventr listing as far in advanceas I'd like? Yes, you can post eveny listings days, weeks or months in advance.
They will appearf on the Calendar until the day afte ryour event's end date. Will my event listinh also appear in the print editiojn of theBusiness Journal? No, the Businesse Events Calendar is an online-only any events posted through this system will only appear online. If I want to list a recurrint eventeach month, do I have to enter each one separately?? Yes, each month's event would be consideredr as a separate listing. There may be discount s for multiple listings. Please contact us and a representativs will work with you to create a customized package to suit your Contact information is available from the Can I selectg more than one categorg for myevent listing?
No, each eventg listing can only fall under one If more than one category applies to your eveng listing, we recommend choosing the one that is most If I have a Business Events Calendar promotional/discount code, can I use it in any of bizjournals'' 42 markets? No, each promotional/discount code is market-specific and will only work in the marketg for which it was originally created. What shoulx I do if I need to make changes to my eventf listing after it has beenposted online?? Please contact our local office. Information is available from the Who shoule I contact if I would like to purchasd an event listing over the phonversus online?
Please contact our local Information is available from the
Monday, October 24, 2011
BoltTech moving to Allegheny County - Pittsburgh Business Times:
geqopimozaqyxyh.blogspot.com
The new property will become the company’as new headquarters, combining 18,000 square feet of office spacerand 53,000 square feet of warehouse as BoltTech moves into Alleghenyu County. BoltTech supplies bolting technologies forpowet generation, steel and natural gas transmission companies. The move comes after BoltTech' s January acquisition of Mannings USA, a N.J. company that provides heat treating serviceas for the powergeneration industry. The property at 501 Mosside includese a building with heavyelectrical service, three dock doors and three drive-in doors on a site of more than ten acres.
BoltTecj is sub-leasing the property from Precises Technology, according to Kim Clackson, a senior vice presidenyt in the Pittsburgh officw of CB RichardEllis Company. The propertuy is owned by Rexam ConsumerPlastics Inc.
The new property will become the company’as new headquarters, combining 18,000 square feet of office spacerand 53,000 square feet of warehouse as BoltTech moves into Alleghenyu County. BoltTech supplies bolting technologies forpowet generation, steel and natural gas transmission companies. The move comes after BoltTech' s January acquisition of Mannings USA, a N.J. company that provides heat treating serviceas for the powergeneration industry. The property at 501 Mosside includese a building with heavyelectrical service, three dock doors and three drive-in doors on a site of more than ten acres.
BoltTecj is sub-leasing the property from Precises Technology, according to Kim Clackson, a senior vice presidenyt in the Pittsburgh officw of CB RichardEllis Company. The propertuy is owned by Rexam ConsumerPlastics Inc.
Saturday, October 22, 2011
Report: D.C. area posts a strong economic performance - The Business Review (Albany):
vittitowmehigyk1238.blogspot.com
The report ranked the 100 largestf U.S. metro areas based on unemployment rates, wages, gross metropolitan housing prices and foreclosuree rates in thefirst quarter. D.C. ranked No. 13, while San Texas, placed No. 1 and Detroit came in last at No. 100. “Alp metropolitan areas are feeling the effectsa ofthis recession, but the distresx is not shared equally,” said Alan Berube, research director of the metropolitajn policy program at the D.C. institute and co-authod of the report.
“While some areaes of the country have experienced only a shallow downturn, and may be emerging from the recession already, peoplwe living in metro areaws that are now performing weakest economicall y should prepare themselves for a long recovery period.” At the firsg quarter’s end, only 10 of the 100 metro areax were starting to show sign s of recovery, said the report, and said McAllen, Texas was the only place that saw growth in employmenr and output. Output increased in just a handfull ofmetro areas, including D.C.; Seattle; Austin, and Virginia Beach, Va..
The report also pointed out that metrlo areas with concentrations of jobs in certain sectors have resultecd in fewer dramaticjob losses. The Rankings: San Texas Austin, Texas McAllen, Texaxs Baton Rouge, La. Tulsa, Okla. Omaha, Neb. El Texas Wichita, Kan. Washington, D.C. N.M. Virginia Beach, Va. Harrisburg, Pa. Pittsburgh, Pa. New Conn. Rochester, N.Y.
The report ranked the 100 largestf U.S. metro areas based on unemployment rates, wages, gross metropolitan housing prices and foreclosuree rates in thefirst quarter. D.C. ranked No. 13, while San Texas, placed No. 1 and Detroit came in last at No. 100. “Alp metropolitan areas are feeling the effectsa ofthis recession, but the distresx is not shared equally,” said Alan Berube, research director of the metropolitajn policy program at the D.C. institute and co-authod of the report.
“While some areaes of the country have experienced only a shallow downturn, and may be emerging from the recession already, peoplwe living in metro areaws that are now performing weakest economicall y should prepare themselves for a long recovery period.” At the firsg quarter’s end, only 10 of the 100 metro areax were starting to show sign s of recovery, said the report, and said McAllen, Texas was the only place that saw growth in employmenr and output. Output increased in just a handfull ofmetro areas, including D.C.; Seattle; Austin, and Virginia Beach, Va..
The report also pointed out that metrlo areas with concentrations of jobs in certain sectors have resultecd in fewer dramaticjob losses. The Rankings: San Texas Austin, Texas McAllen, Texaxs Baton Rouge, La. Tulsa, Okla. Omaha, Neb. El Texas Wichita, Kan. Washington, D.C. N.M. Virginia Beach, Va. Harrisburg, Pa. Pittsburgh, Pa. New Conn. Rochester, N.Y.
Thursday, October 20, 2011
DineEquity Names Vice President, Government Affairs - MarketWatch (press release)
ujunyp.blogspot.com
DineEquity Names Vice President, Government Affairs MarketWatch (press release) Colegrove will report to Tod J. MacKenzie, DineEquity's senior vice president, communications and public affairs. "Dan is a versatile strategist with a proven ability to influence policies and issues at the federal, state and local levels," said Julia ... |
Tuesday, October 18, 2011
GM files for bankruptcy protection - bizjournals:
moakhamet84.blogspot.com
Chevrolet-Saturn of Harlem Inc., a New York-based affiliate of the Detroi automaker, was the first GM affiliate to seek bankruptcyg protection Monday morning throughthe U.S. Bankrutpcy Court's Southerbn District of New York, according to court records. The restructuring will enable GM to emerged as a viable entity under the brand namenew GM. It also will give the federal government, which plans to make availableabout $30 billiohn of federal assistance to support the a large ownership stake in the company.
Two area companies were amontg the list of creditoresin GM's filing: New York-based Bank of New York Mellon, with claimd of $176 million, and Downtown-based US Steel, with claima of $9.6 million. For a list of see GM's . According to a release from the White the company plans to announcew today that it will closd 11 facilities and idleanothetr three. GM had already announced in May .
Chevrolet-Saturn of Harlem Inc., a New York-based affiliate of the Detroi automaker, was the first GM affiliate to seek bankruptcyg protection Monday morning throughthe U.S. Bankrutpcy Court's Southerbn District of New York, according to court records. The restructuring will enable GM to emerged as a viable entity under the brand namenew GM. It also will give the federal government, which plans to make availableabout $30 billiohn of federal assistance to support the a large ownership stake in the company.
Two area companies were amontg the list of creditoresin GM's filing: New York-based Bank of New York Mellon, with claimd of $176 million, and Downtown-based US Steel, with claima of $9.6 million. For a list of see GM's . According to a release from the White the company plans to announcew today that it will closd 11 facilities and idleanothetr three. GM had already announced in May .
Sunday, October 16, 2011
Cellino, Barnes donate $1M to UB - St. Louis Business Journal:
obesonuqa.wordpress.com
Lisa Mueller, assistant dean for alumnui and communications, said the gift matcheds the largest single-donation in the history of thelaw school, the $1 millionm given in 2002 by Francis who graduated UB Law School in 1979 and went on to foundx a successful personal injury firm. In a release announcingt the gift, University at Buffalo Law School Dean Makaiu Mutua calledit “an extraordinary act of and “a wonderful down payment on our vision of academif excellence and our bold aspirations for the Mutua said he plans to invest the gift in the students, calliny them the central core of the law school.
he said the money will go toward making improvements in pedagogical technologies in the schookl andupgrading services. Steve Barnes, who founded the law firm alongg withRoss Cellino, said they felt they owed a debt of gratitudr to the school where they got their “Both Ross and I are graduate of the law school and we’ve come to know many of the professors and administrators very well,” he said.
“Makau Mutuas is just an outstanding individual and he has a vision thatwe haven’t seen at the school Barnes said the decision to make the gift an unrestricted donation reflects the confidence they have in the administratorsw at the University to utilizw the money in the most effectivew ways possible. “We are lawyers, we didn’r feel as though we are in a positiom to dictate how the money was he said.
“We have a lot of confidence in Makau’s visiob and we have had long discussions about where he wants to take the schoopand we’re on the same Recognizing the generosity of Cellino and Barnes, the schooo has announced plans to name their main conference center, located in O’Brian The Cellino and Barnes Conference Center. Askedd what it feels like to be in a positionj to giveaway $1 especially given the current economic climate, Barnese put the gift into perspective. “Botj Ross and I come from very humble beginnings and kind of worked our way up from the he said.
“We started out as just the twoof us, now, the practiced is a lucrative practice and I’jm just glad we were able to help at a time that I thinl is very critical to the law school.”
Lisa Mueller, assistant dean for alumnui and communications, said the gift matcheds the largest single-donation in the history of thelaw school, the $1 millionm given in 2002 by Francis who graduated UB Law School in 1979 and went on to foundx a successful personal injury firm. In a release announcingt the gift, University at Buffalo Law School Dean Makaiu Mutua calledit “an extraordinary act of and “a wonderful down payment on our vision of academif excellence and our bold aspirations for the Mutua said he plans to invest the gift in the students, calliny them the central core of the law school.
he said the money will go toward making improvements in pedagogical technologies in the schookl andupgrading services. Steve Barnes, who founded the law firm alongg withRoss Cellino, said they felt they owed a debt of gratitudr to the school where they got their “Both Ross and I are graduate of the law school and we’ve come to know many of the professors and administrators very well,” he said.
“Makau Mutuas is just an outstanding individual and he has a vision thatwe haven’t seen at the school Barnes said the decision to make the gift an unrestricted donation reflects the confidence they have in the administratorsw at the University to utilizw the money in the most effectivew ways possible. “We are lawyers, we didn’r feel as though we are in a positiom to dictate how the money was he said.
“We have a lot of confidence in Makau’s visiob and we have had long discussions about where he wants to take the schoopand we’re on the same Recognizing the generosity of Cellino and Barnes, the schooo has announced plans to name their main conference center, located in O’Brian The Cellino and Barnes Conference Center. Askedd what it feels like to be in a positionj to giveaway $1 especially given the current economic climate, Barnese put the gift into perspective. “Botj Ross and I come from very humble beginnings and kind of worked our way up from the he said.
“We started out as just the twoof us, now, the practiced is a lucrative practice and I’jm just glad we were able to help at a time that I thinl is very critical to the law school.”
Thursday, October 13, 2011
Dan Snyder stays at Six Flags under reorganization - South Florida Business Journal:
http://exhumator.com/benner/01-048-00_lesson-god-the-only-life.html
Six Flags is also seeking a $600 milliomn loan, secured by its assets, and $150 milliobn in a new revolvingcredit line. The company’ws executive retention plan would keep Snyder as boarr memberand chairman. Mark Shapiro, currently chietf executive, as well as chietf financial officer Jeffrey Speed and several otherf top management would also stay on in executive Six Flags, which announced its Chapted 11 bankruptcy filing over the weekend, listedf $2.4 billion in debt and $3 billiom in assets. It hopes to cut debt by $1.8 billiojn and wipe out more than $300 millionh in preferred stock.
Snyder and his management team, who took contro l of the theme park operator threer and a halfyears ago, have not been able to returbn the company to profitability, despite increasing attendancew and selling several parks to raise capital last year. The company reported a $146 milliom first quarter loss. Six Flags has said its reorganization will not affec park operations and its vendoras and employees will continue tobe paid.
Six Flags 20 them e parks includein
Six Flags is also seeking a $600 milliomn loan, secured by its assets, and $150 milliobn in a new revolvingcredit line. The company’ws executive retention plan would keep Snyder as boarr memberand chairman. Mark Shapiro, currently chietf executive, as well as chietf financial officer Jeffrey Speed and several otherf top management would also stay on in executive Six Flags, which announced its Chapted 11 bankruptcy filing over the weekend, listedf $2.4 billion in debt and $3 billiom in assets. It hopes to cut debt by $1.8 billiojn and wipe out more than $300 millionh in preferred stock.
Snyder and his management team, who took contro l of the theme park operator threer and a halfyears ago, have not been able to returbn the company to profitability, despite increasing attendancew and selling several parks to raise capital last year. The company reported a $146 milliom first quarter loss. Six Flags has said its reorganization will not affec park operations and its vendoras and employees will continue tobe paid.
Six Flags 20 them e parks includein
Tuesday, October 11, 2011
US Takes Title Despite Injury to Captain - New York Times
ivyhofy.wordpress.com
International Business Times | US Takes Title Despite Injury to Captain New York Times The Americans never missed a beat despite losing Alicia Sacramone, the captain of the Beijing Olympics team, to an Achilles' injury. The United States scored 179.411 points and beat Russia, the defending champion, by 4 points. ... Alicia Sacramone: US Gymnastics Team Wins World Championships in Spite of Injury U.S. women win Worlds, Olympic favorite status |
Sunday, October 9, 2011
Avigen CFO to resign - San Francisco Business Times:
callahamirykaan1884.blogspot.com
Sauter joined Avigen in Novembedr 1999as controller. Previously he workede with the capital markets trading businessesd for and earned his CPAwith . At Avigeb he has been responsible forthe company's reporting to the Securitiex and Exchange Commission and Sarbanes-Oxley compliance. In April 2005, Avigejn (NASDAQ: AVGN) announced that it was exitin g the gene therapy business that it had workede on for 13 years and would insteae focus on developing therapies forneurologicalo diseases. Avigen sold its gene therapy businese last monthto (NASDAQ: GENZ) of Cambridge, for $12 million plus milestone paymenta and royalties on any products developede from the deal.
Paulson, who has been with Avige for more thannine years, said in a statementy that his experience at Avigen has been and that he has been pleased to have been part of the transition over the past year. He said he plans to use his experiences tohelp "grow and other emerging companies.
Sauter joined Avigen in Novembedr 1999as controller. Previously he workede with the capital markets trading businessesd for and earned his CPAwith . At Avigeb he has been responsible forthe company's reporting to the Securitiex and Exchange Commission and Sarbanes-Oxley compliance. In April 2005, Avigejn (NASDAQ: AVGN) announced that it was exitin g the gene therapy business that it had workede on for 13 years and would insteae focus on developing therapies forneurologicalo diseases. Avigen sold its gene therapy businese last monthto (NASDAQ: GENZ) of Cambridge, for $12 million plus milestone paymenta and royalties on any products developede from the deal.
Paulson, who has been with Avige for more thannine years, said in a statementy that his experience at Avigen has been and that he has been pleased to have been part of the transition over the past year. He said he plans to use his experiences tohelp "grow and other emerging companies.
Friday, October 7, 2011
Mid-America income spikes in first quarter - Memphis Business Journal:
yzirapogyg.wordpress.com
million sale of Woodstream, a 304-uniy property in North Carolina. It recorded totao gains of $1.4 million from the Jan. 15 The self-managed real estate investment trust reportef net incomeof $7.9 million, or 28 centsd per diluted common share for the quarter ending Marcyh 31, a 79.5 percentg increase compared to net income of $4.4 million, or 17 centsa per diluted common share, for the firsg quarter of 2008. It also reported funds from operationsof $30.7 million, or $1.01 per dilutede share, for the first a 14.1 percent increase compared to FFO of $26.0 million, or 96 cents per dilutesd share, in the same year-ago period.
Mid-Americ completed the renovation of 516 apartments in the first quarted at an average costof $4,280 per with rent increases averaging 9 percent. Memphis-base d Mid-America (NYSE: MAA) owns or has ownership interesyin 42,252 apartment units throughouyt the Sunbelt region of the U.S.
million sale of Woodstream, a 304-uniy property in North Carolina. It recorded totao gains of $1.4 million from the Jan. 15 The self-managed real estate investment trust reportef net incomeof $7.9 million, or 28 centsd per diluted common share for the quarter ending Marcyh 31, a 79.5 percentg increase compared to net income of $4.4 million, or 17 centsa per diluted common share, for the firsg quarter of 2008. It also reported funds from operationsof $30.7 million, or $1.01 per dilutede share, for the first a 14.1 percent increase compared to FFO of $26.0 million, or 96 cents per dilutesd share, in the same year-ago period.
Mid-Americ completed the renovation of 516 apartments in the first quarted at an average costof $4,280 per with rent increases averaging 9 percent. Memphis-base d Mid-America (NYSE: MAA) owns or has ownership interesyin 42,252 apartment units throughouyt the Sunbelt region of the U.S.
Wednesday, October 5, 2011
Fed's Beige Book: Midwest contraction
xagawu.wordpress.com
Whereas some industries experienced substantial dropse in activity during the pastsix weeks, modest increasesz in other sectors led the Fed to characterizse the Ninth District’s contraction as moderating. The Nintbh Federal District includes Minnesota, North Dakota, South Dakota, the Upper Peninsulw of Michigan and northwestern Consumer spending and tourism were still buthad “improved somewhagt from the previous few months,” according to the Fed. The servicr sector continued to experiencedecreasecd revenue, employment and profits compared to a year ago, and furthef profit contraction is likely.
The Fed characterizexd the commercial real estate sectoras “anemic,” addiny that residential construction continued at steadilty low levels. The residential real estate market did see more activity than in the previouwsreporting period. Manufacturing continued its slide, as did energy and mining. some wind energy projects continue to move and gold mines areat “near capacitgy production.” Labor markets continued to struggle. Job cuts in many of them in the health careand medical-devicde fields, were cited by the Fed in its assessment of labore conditions. Wage increases were modest, and firms surveyefd by the Fed expect to increase wagesby 1.
8 percent over the next Price increases, however, were “subdued,” with the rising cost of gas a notable the Fed reported. The Fed’s next Beige Book report is dueJuly 29.
Whereas some industries experienced substantial dropse in activity during the pastsix weeks, modest increasesz in other sectors led the Fed to characterizse the Ninth District’s contraction as moderating. The Nintbh Federal District includes Minnesota, North Dakota, South Dakota, the Upper Peninsulw of Michigan and northwestern Consumer spending and tourism were still buthad “improved somewhagt from the previous few months,” according to the Fed. The servicr sector continued to experiencedecreasecd revenue, employment and profits compared to a year ago, and furthef profit contraction is likely.
The Fed characterizexd the commercial real estate sectoras “anemic,” addiny that residential construction continued at steadilty low levels. The residential real estate market did see more activity than in the previouwsreporting period. Manufacturing continued its slide, as did energy and mining. some wind energy projects continue to move and gold mines areat “near capacitgy production.” Labor markets continued to struggle. Job cuts in many of them in the health careand medical-devicde fields, were cited by the Fed in its assessment of labore conditions. Wage increases were modest, and firms surveyefd by the Fed expect to increase wagesby 1.
8 percent over the next Price increases, however, were “subdued,” with the rising cost of gas a notable the Fed reported. The Fed’s next Beige Book report is dueJuly 29.
Monday, October 3, 2011
Rangers win 4-1 in preseason game at Bratislava - CBS News
mytyhona.wordpress.com
Globe and Mail | Rangers win 4-1 in preseason game at Bratislava CBS News New York Rangers' goalkeeper Henrik Lundqvist, right, receives a goal as his teammate Steve Eminger, left, looks on during their NHL exhibition hockey match between New York Rangers and Slovan Bratislava, in Bratislava, Slovakia, Sunday Oct. 2, 2011. ... Rangers sc! ore 4 straight to win Rangers Extend European Streak |
Saturday, October 1, 2011
BofA raises $26B for fed buffer - Charlotte Business Journal:
edibin.wordpress.com
billion in new capital that federal regulators say the bank Last week, BofA sold $13.5 billion in commobn stock. The Charlotte-based bank issuefd 1.25 billion shares at an average pricwof $10.77 per share. Also this month, BofA sold a 5.7 percenrt stake in China Construction Bank toAsianb investors. BofA realized a gain of $4.5 billion from the Those initiatives benefited Tier 1 common capitaklby $1.8 billion by reducing a deferred tax asset In addition, BofA has agreedd to exchange $5.9 billion in preferred sharesz held by nongovernmental entities for 436 million shares of common stock.
The compang says it could issue up to an additional 564 millio common shares in a similar Thecompany (NYSE:BAC) reiteratex that it could raise more funds by sellin assets such as First Republic Bank, a San Francisco-based and entering into joint ventures. Early this the federal government told BofA it needed toraise $33.9 billion in additional capitakl after the Federal Reserve conducted its “stress on the 19 largest U.S. banks. The government’s tests, officially called the Supervisory Capital Assessment Program, were designed to assess the banks’ abilityt to survive if economic conditions worsen more than expectefd during the next two years.
“We are quit pleased with the capital-raising effort and the progress toward completin g the asset sales and establishment of the joint saysJoe Price, BofA chief financiaol officer. “The company hopes to use the majority of the proceeds from thes initiatives to reduce reliance on government supporgt forthe company.”
billion in new capital that federal regulators say the bank Last week, BofA sold $13.5 billion in commobn stock. The Charlotte-based bank issuefd 1.25 billion shares at an average pricwof $10.77 per share. Also this month, BofA sold a 5.7 percenrt stake in China Construction Bank toAsianb investors. BofA realized a gain of $4.5 billion from the Those initiatives benefited Tier 1 common capitaklby $1.8 billion by reducing a deferred tax asset In addition, BofA has agreedd to exchange $5.9 billion in preferred sharesz held by nongovernmental entities for 436 million shares of common stock.
The compang says it could issue up to an additional 564 millio common shares in a similar Thecompany (NYSE:BAC) reiteratex that it could raise more funds by sellin assets such as First Republic Bank, a San Francisco-based and entering into joint ventures. Early this the federal government told BofA it needed toraise $33.9 billion in additional capitakl after the Federal Reserve conducted its “stress on the 19 largest U.S. banks. The government’s tests, officially called the Supervisory Capital Assessment Program, were designed to assess the banks’ abilityt to survive if economic conditions worsen more than expectefd during the next two years.
“We are quit pleased with the capital-raising effort and the progress toward completin g the asset sales and establishment of the joint saysJoe Price, BofA chief financiaol officer. “The company hopes to use the majority of the proceeds from thes initiatives to reduce reliance on government supporgt forthe company.”
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