belyaevostapuki.blogspot.com
Mortgage applications rose 6.6 percent for the week endeds June 19, on a seasonally adjuster basis from the previous week and wereup 17.2 percenty compared with the same week a year ago, accordingg to the . The Refinance Index increased 5.9 percen t to 2,116.3 from 1,998.1 the previous The refinance share of mortgage activity fell slightly to 54 percentf of the total applicationsfrom 54.1 percent the previouss week. The average interest rate for 30-yeatr fixed-rate mortgages decreased to 5.44 percent from 5.50 with points increasing to 0.99 from 0.89. The averaged interest rate for 15-year fixed-rate mortgage decreased to 4.93 percent from 4.99 percent, with points decreasing to 0.
92 from The average interest ratefor one-year adjustable rate mortgages remained unchangex at 6.54 percent, with points increasing to 0.11 from
Monday, January 21, 2013
Wednesday, January 16, 2013
48 area companies cut from Empire Zone program - The Business Review (Albany):
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State officials told The Business Review that 48 Capitakl Region companies have been notified that they will be removeds fromthe program, unless they appeal the decision. That amounts to 5.9 percentf of the 820 area companies that the state has made adecisionm on. [Click for the list]. The stater is still gathering informationfrom 1,39 0 companies statewide, including 130 Albany-area businesses. Judgments on thosew firms will be made sometime next State officials have said they expect most of thosse companies to remain in the The Empire Zone program awards state tax creditsw and exemptions toabout 9,000 businessesd statewide, in exchange for pledgese to retain and create jobs.
The program also is used to lure companiexs intothe state, including the massives $4.2 billion GlobalFoundries computer chip plant being constructed in Malta. The currentr state budget attempted to shrink the Empire Zone program by applyingstricter standards. Doing so is supposedf to save thestate $90 million this fiscakl year. , which oversees the audited the companies in the program to determinew whether they met thenew Now, companies that have been in the progra m at least three years must have generatedd a minimum of $1 in benefits and capital investments for every $1 they receive d in state tax credits.
Otherwise, they must be Statewide, at least 544 companiee will be removed fromEmpire Zones—equapl to 7.6 percent of the 7,150 companiesx the state has made a decision on. Companies must notifuy the state by July 21 that they are appealinbthe rulings. showed that the state plannedc to eliminate almost 100 more companies fromthe program, making the totalp about 640. However, the budget gave Empire State Development’es highest officials the discretion to keep those companieds in the program even if they did not meet the new saidKatie Krawczyk, spokeswoman for the state agency.
The officials focused on manufacturers, she “The manufacturing sector is generally more mobild than most otherbusiness sectors, particularly retail and service Krawczyk said in a statement. “An increas e in costs through a reduction in Empirer Zone benefits is more likelu to result in negative location decisions for manufacturers than forotherr industries. Manufacturing as a sector is a highlydesirablde industry.” Four Capital Region companiesx were taken off the initial remova list. Notable names remain among the 48 Capitall Region businesses that will be removesd fromthe program. • the Albany officre of • longtime Albany department store Inc.
Troy firm • industrial parks in Scotia andGreeb Island.
State officials told The Business Review that 48 Capitakl Region companies have been notified that they will be removeds fromthe program, unless they appeal the decision. That amounts to 5.9 percentf of the 820 area companies that the state has made adecisionm on. [Click for the list]. The stater is still gathering informationfrom 1,39 0 companies statewide, including 130 Albany-area businesses. Judgments on thosew firms will be made sometime next State officials have said they expect most of thosse companies to remain in the The Empire Zone program awards state tax creditsw and exemptions toabout 9,000 businessesd statewide, in exchange for pledgese to retain and create jobs.
The program also is used to lure companiexs intothe state, including the massives $4.2 billion GlobalFoundries computer chip plant being constructed in Malta. The currentr state budget attempted to shrink the Empire Zone program by applyingstricter standards. Doing so is supposedf to save thestate $90 million this fiscakl year. , which oversees the audited the companies in the program to determinew whether they met thenew Now, companies that have been in the progra m at least three years must have generatedd a minimum of $1 in benefits and capital investments for every $1 they receive d in state tax credits.
Otherwise, they must be Statewide, at least 544 companiee will be removed fromEmpire Zones—equapl to 7.6 percent of the 7,150 companiesx the state has made a decision on. Companies must notifuy the state by July 21 that they are appealinbthe rulings. showed that the state plannedc to eliminate almost 100 more companies fromthe program, making the totalp about 640. However, the budget gave Empire State Development’es highest officials the discretion to keep those companieds in the program even if they did not meet the new saidKatie Krawczyk, spokeswoman for the state agency.
The officials focused on manufacturers, she “The manufacturing sector is generally more mobild than most otherbusiness sectors, particularly retail and service Krawczyk said in a statement. “An increas e in costs through a reduction in Empirer Zone benefits is more likelu to result in negative location decisions for manufacturers than forotherr industries. Manufacturing as a sector is a highlydesirablde industry.” Four Capital Region companiesx were taken off the initial remova list. Notable names remain among the 48 Capitall Region businesses that will be removesd fromthe program. • the Albany officre of • longtime Albany department store Inc.
Troy firm • industrial parks in Scotia andGreeb Island.
Sunday, January 13, 2013
Dallas home prices fall 5.6% - Puget Sound Business Journal (Seattle):
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percent in the first quarter of 2009 when compared to the same periox ayear earlier, according to the latesft Standard & Poor’s/Case-Shiller Home Pricde Indices. The evaluates home prices in various U.S. metropolitan areaw and develops data sketches by evaluating changexs within individual cities and within largedr portfolios made up of various cities. The S&P/Case-Shiller 10-city composite index shows home pricessfalling 18.6 percent in the first quarter as comparee to the year while the report’s 20-city composite index shows home pricesw falling 18.7 percent.
Despite home pricw values dropping in Dallas as the NorthTexas area, along with Denved and Boston, continue to fare betterf with their price declines landing at the lower end of the the S&P/Case-Shiller report said. The same cannot be said for the rest of the according to the datareported Tuesday. “Declines in residentialp real estate continued at a steady pace into saidDavid Blitzer, chairman of the Indes Committee at Standard & Poor’s. “All 20 metrp areas are still showing negative annual rates of changse in average home prices with nine of the metro areaa having recordannual declines.
”
percent in the first quarter of 2009 when compared to the same periox ayear earlier, according to the latesft Standard & Poor’s/Case-Shiller Home Pricde Indices. The evaluates home prices in various U.S. metropolitan areaw and develops data sketches by evaluating changexs within individual cities and within largedr portfolios made up of various cities. The S&P/Case-Shiller 10-city composite index shows home pricessfalling 18.6 percent in the first quarter as comparee to the year while the report’s 20-city composite index shows home pricesw falling 18.7 percent.
Despite home pricw values dropping in Dallas as the NorthTexas area, along with Denved and Boston, continue to fare betterf with their price declines landing at the lower end of the the S&P/Case-Shiller report said. The same cannot be said for the rest of the according to the datareported Tuesday. “Declines in residentialp real estate continued at a steady pace into saidDavid Blitzer, chairman of the Indes Committee at Standard & Poor’s. “All 20 metrp areas are still showing negative annual rates of changse in average home prices with nine of the metro areaa having recordannual declines.
”
Saturday, January 12, 2013
ESPN to share Spanish soccer rights with GolTV - Minneapolis / St. Paul Business Journal:
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One member of La Liga, Real has made headlines recently acquiring two of the biggestf names in thesport -- Kaka and Cristiano Ronaldo's transfer recently made wavesw for being the most expensiv transfer in the sport's Matches will be shown on both ESPNw2 and ESPN Deportes, as well as ESPN360.com. ESPN Deportes and ESPN360.com will also have rights to Copadel Rey, Spain’w domestic cup tournament. "We’re thrille to work with GolTV to showcase La Liga on ESPN for the first time to soccer fans inthe U.S.
With the pending additiomn of Cristiano Ronaldoand Kaka, the timing is great to includw this great property to the ESPN Deportes as it is the most excitingf soccer league in the world today," Lino general manager of ESPN Deportes, said in a statement.
One member of La Liga, Real has made headlines recently acquiring two of the biggestf names in thesport -- Kaka and Cristiano Ronaldo's transfer recently made wavesw for being the most expensiv transfer in the sport's Matches will be shown on both ESPNw2 and ESPN Deportes, as well as ESPN360.com. ESPN Deportes and ESPN360.com will also have rights to Copadel Rey, Spain’w domestic cup tournament. "We’re thrille to work with GolTV to showcase La Liga on ESPN for the first time to soccer fans inthe U.S.
With the pending additiomn of Cristiano Ronaldoand Kaka, the timing is great to includw this great property to the ESPN Deportes as it is the most excitingf soccer league in the world today," Lino general manager of ESPN Deportes, said in a statement.
Thursday, January 10, 2013
Chase bank hiring 200 in Milwaukee - Puget Sound Business Journal (Seattle):
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New employees are working at theChasr Tower, 111 E. Wisconsin Ave., and are focused mainlu on negotiating new payment arrangement s with homeowners delinquent ontheir payments, said spokeswoman Christine Holevas. Chase is one of the nation’sx largest mortgage servicers with a portfolioof $1.5 The bank added billionx in mortgage business with the September 2008 acquisition of Washington Mutual. The new hires includse loan specialists, negotiators, underwritersx and supervisors, Holevas said. Many already have startec training. Chase has abouty 1,400 employees in greater and nearly 950in Milwaukee, Holeva said.
Chase, which is part of , New York runs 41 branches in themetropolitah area. In December 2008, Chase cited declining activityin home-equity lending when it announcesd job eliminations by early February in its downtown Milwaukeed home equity servicing center. Some employees who were laid off earlieer this year are likely among those being hired for the mortgage servicing Holevas said. “We had terrific people and we want to get the best ofthoses back,” she said. Chase bank officials like the quality of employeews in Milwaukee and their work Holevas said. She could not predict the longevity of thenew “As the business changes so do our employmenft needs,” Holevas said.
“We staff according to needs.” As the number of foreclosures continues torise nationally, Chas e is far from the only bank to boos its staff for handling troubles mortgages. Some banks, including M&I Marshall & Ilsle in Milwaukee, have instituted foreclosure moratoriums as they attempt to modifty mortgages toreduce payments. M&I’s foreclosure moratoriuj is scheduled to expire onJune 30. In the past six M&I has increased by 50 percentr its staff dedicated to assisting the increasing number of homeowners facing financial saidDick Becker, president of the bank’s Wisconsin communityy bank unit.
He decline d to disclose the number of jobsthat M&o has added. M&I works with homeowners befored they reach delinquency to avoid foreclosure and also seeks solutions for homeowners already in Becker said. Minneapolis-based , which has the second-largest deposit market share in metropolitajn Milwaukee and services more than 1 milliojmortgages nationally, announced in March that it is constructing a buildinf in Owensboro, Ky., for its mortgage services unit. The bank alreadyy employs 850 people in Owensboroo and the new building will accommodate up to 300 new At the communitybank level, the loan modification strategiew are implemented on a smallerr scale.
For example, , Wauwatosa, increasedc its collections staff from two to threre plusa half-time employee to tackle the increasedf workload, said president and CEO Doug Gordon. Collections employeea review the home-owner’s financial situation in an effort toavoicd foreclosure, Gordon said. The employeesx discuss what the homeowner can afford for paymentzs and whether the mortgage is he said. The bank has successfully modifie many mortgages and even stopped some foreclosures whilre they werein process, he “We’d much rather modify them work with them — than Gordon said.
“Nobody wins in We don’t want to own the real estate andthey don’ want to lose the real estate.”
New employees are working at theChasr Tower, 111 E. Wisconsin Ave., and are focused mainlu on negotiating new payment arrangement s with homeowners delinquent ontheir payments, said spokeswoman Christine Holevas. Chase is one of the nation’sx largest mortgage servicers with a portfolioof $1.5 The bank added billionx in mortgage business with the September 2008 acquisition of Washington Mutual. The new hires includse loan specialists, negotiators, underwritersx and supervisors, Holevas said. Many already have startec training. Chase has abouty 1,400 employees in greater and nearly 950in Milwaukee, Holeva said.
Chase, which is part of , New York runs 41 branches in themetropolitah area. In December 2008, Chase cited declining activityin home-equity lending when it announcesd job eliminations by early February in its downtown Milwaukeed home equity servicing center. Some employees who were laid off earlieer this year are likely among those being hired for the mortgage servicing Holevas said. “We had terrific people and we want to get the best ofthoses back,” she said. Chase bank officials like the quality of employeews in Milwaukee and their work Holevas said. She could not predict the longevity of thenew “As the business changes so do our employmenft needs,” Holevas said.
“We staff according to needs.” As the number of foreclosures continues torise nationally, Chas e is far from the only bank to boos its staff for handling troubles mortgages. Some banks, including M&I Marshall & Ilsle in Milwaukee, have instituted foreclosure moratoriums as they attempt to modifty mortgages toreduce payments. M&I’s foreclosure moratoriuj is scheduled to expire onJune 30. In the past six M&I has increased by 50 percentr its staff dedicated to assisting the increasing number of homeowners facing financial saidDick Becker, president of the bank’s Wisconsin communityy bank unit.
He decline d to disclose the number of jobsthat M&o has added. M&I works with homeowners befored they reach delinquency to avoid foreclosure and also seeks solutions for homeowners already in Becker said. Minneapolis-based , which has the second-largest deposit market share in metropolitajn Milwaukee and services more than 1 milliojmortgages nationally, announced in March that it is constructing a buildinf in Owensboro, Ky., for its mortgage services unit. The bank alreadyy employs 850 people in Owensboroo and the new building will accommodate up to 300 new At the communitybank level, the loan modification strategiew are implemented on a smallerr scale.
For example, , Wauwatosa, increasedc its collections staff from two to threre plusa half-time employee to tackle the increasedf workload, said president and CEO Doug Gordon. Collections employeea review the home-owner’s financial situation in an effort toavoicd foreclosure, Gordon said. The employeesx discuss what the homeowner can afford for paymentzs and whether the mortgage is he said. The bank has successfully modifie many mortgages and even stopped some foreclosures whilre they werein process, he “We’d much rather modify them work with them — than Gordon said.
“Nobody wins in We don’t want to own the real estate andthey don’ want to lose the real estate.”
Wednesday, January 9, 2013
Pending home sales jump; construction spending rises - Kansas City Business Journal:
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Pending sales of existing homes, or contracts signed but not rose 6.7 percent in April from March, the Nationalp Association of Realtors said. April’sw pending sales were up 3.2 perceng from a year earlier. The biggesrt increase in April was in the where pending salesjumped 32.6 percent from the previouw month. The NAR’s pending home sales inded is a forward-looking gauge, and the grouo cautions that it is more volatilde than actualclosed sales. “The relationship between contracts on pendingg home sales and closings on existing home sales is taking longer than in the past forsevera reasons,” NAR Chief Economist Lawrence Yun said.
“Mortgagw processing time has increased, it is takinv many months to close on thosre homes requiring short sales withlende approval, and some sales are falling throughj at the last moment.” The NAR’ds housing affordability index was also at its second-highesy level on record in April. Along with pendintg sales of existing homes, total U.S. constructiohn spending rose 0.8 percent in April from the biggest one-month increase since August, and was led by a jump in privatde andresidential construction, the U.S. A Bloomberg survey of 45 economistws had projected a median dropof 1.
5 The Commerce Department report from the said that spending on privatd construction was at a seasonally adjusted annuak rate of $657.3 billion, up 1.4 percentr from the revised March estimate of $648.2 Residential construction rose 0.7 percenft to a seasonally adjusted annual rate of $249.1 billion. Nonresidential construction rose 1.8 percent to an annual rate of $408.2w billion. Total public construction fell in though spending on highway projects rose nearlh 1 percent from theprevious month. A separat report from the Commerce Departmentf last week showed constructionbof single-family homes rose 2.8 percent in the second consecutive monthly increase.
Gainsx in single-family construction were overwhelmed by a 46 percentr drop in apartment andcond buildings, bringing total housing starts down 13 percent in
Pending sales of existing homes, or contracts signed but not rose 6.7 percent in April from March, the Nationalp Association of Realtors said. April’sw pending sales were up 3.2 perceng from a year earlier. The biggesrt increase in April was in the where pending salesjumped 32.6 percent from the previouw month. The NAR’s pending home sales inded is a forward-looking gauge, and the grouo cautions that it is more volatilde than actualclosed sales. “The relationship between contracts on pendingg home sales and closings on existing home sales is taking longer than in the past forsevera reasons,” NAR Chief Economist Lawrence Yun said.
“Mortgagw processing time has increased, it is takinv many months to close on thosre homes requiring short sales withlende approval, and some sales are falling throughj at the last moment.” The NAR’ds housing affordability index was also at its second-highesy level on record in April. Along with pendintg sales of existing homes, total U.S. constructiohn spending rose 0.8 percent in April from the biggest one-month increase since August, and was led by a jump in privatde andresidential construction, the U.S. A Bloomberg survey of 45 economistws had projected a median dropof 1.
5 The Commerce Department report from the said that spending on privatd construction was at a seasonally adjusted annuak rate of $657.3 billion, up 1.4 percentr from the revised March estimate of $648.2 Residential construction rose 0.7 percenft to a seasonally adjusted annual rate of $249.1 billion. Nonresidential construction rose 1.8 percent to an annual rate of $408.2w billion. Total public construction fell in though spending on highway projects rose nearlh 1 percent from theprevious month. A separat report from the Commerce Departmentf last week showed constructionbof single-family homes rose 2.8 percent in the second consecutive monthly increase.
Gainsx in single-family construction were overwhelmed by a 46 percentr drop in apartment andcond buildings, bringing total housing starts down 13 percent in
Tuesday, January 8, 2013
The Bachelor': Sean Lowe is quick with the rose - San Jose Mercury News media center
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E! Online | The Bachelor': Sean Lowe is quick with the rose San Jose Mercury News media center Bachelor Sean Lowe and host Chris Harrison during the season premiere of the 'The Bachelor' televised on Monday, January 7, 2013. (ABC/RICK ROWELL). 'The Batchelor': Sean meets the 26 contenders. 2 of 58. Bachelor Sean Lowe and host Chris ... 'The Bachelor' recap: Sean Lowe forms his harem and breaks some rules 'Bachelor' premiere: Sean Lowe meets 26 women Michigan woman competing on new season of 'The Bachelor' |
Sunday, January 6, 2013
Despite ugly win, Norton boys still unbeaten - Attleboro Sun Chronicle
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Despite ugly win, Norton boys still unbeaten Attleboro Sun Chronicle Norton's Dan Rafuse, right, puts a shot up against Dan Denman of Millis. (Staff photo by Mike George). Posted: Saturday, January 5, 2013 12:16 am | Updated: 12:24 am, Sat Jan 5, 2013. Despite ugly win, Norton boys still unbeaten BY PETER GOBIS SUN ... Boy's Basketb » |
Saturday, January 5, 2013
Meet the stimulus panel - Minneapolis / St. Paul Business Journal:
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Suite 202, Miami 33155 With the health care unlikethe bailouts, taxpayers will have a true returbn on their investment through the adoption of electroni c health records. The technology will greatly improves the quality of through less medical errors and improved access and disease management, while significantly contributing to billions of dollarws in healthcare savings. The Health Information Technologhy for Economic and Clinical Healt h Act is not designed to fix every proble inhealth care, but it is a long overdue and proactive approach to building the basic foundation, which every other industruy has already embraced: technology.
Electronic heath record adoption andthe “real money” stimuluz incentives are the first critical steps a physician can take in improvinh patient care and their practice’s financial Executive VP and chief administrative officer, Web Address: 6855 Red Road, Suite 600, Corap Gables 33143-3632 Phone: The stimulus plan for the state of by itself, will not support the need for fundiny Medicaid. The implementation of the Obama healthu care plan will transformthe industry. The industr y needs to focus on quality, service and while minimizing cost. Michael W. Kesti Presideng and CEO, Health Ventures Web site: Address: 8161 S.W.
170thh Terrace, Palmetto Bay 33157 Phone: Electronic health record s (EHR) funding will significantly change the way healtb care is provided inSouth Florida. Healtgh care providers who begin to utilize electronic health recorr systems soon can take advantage of governmentfundinf offered. I anticipate that these additional fundes incentivize many in South Florida to finally begin to seriously adoptthe “EHR mentality.” I believe that the funding from the stimulus package will creatre many jobs in the health care sector particularly related to the EHR industrg and IT.
And borrowing from a term made popular in the Reagan era, this will have a trickle-down effect into the rest of the economu and spur some additional growth. Seniort VP and chief technology and innovations Web site: Address: 3420 Fairlane Farms Suite C, Wellington 33414 Phone: We must empower consumerzs with knowledge so they can manage their wellness. Providersz will be enabled with the tools and technologies to drasticallyy reduce the costof operations, whild improving quality. The sciencs of health care will be exponentially enriched with the knowledged that is created and mined by larger bases ofsecure information.
Suite 202, Miami 33155 With the health care unlikethe bailouts, taxpayers will have a true returbn on their investment through the adoption of electroni c health records. The technology will greatly improves the quality of through less medical errors and improved access and disease management, while significantly contributing to billions of dollarws in healthcare savings. The Health Information Technologhy for Economic and Clinical Healt h Act is not designed to fix every proble inhealth care, but it is a long overdue and proactive approach to building the basic foundation, which every other industruy has already embraced: technology.
Electronic heath record adoption andthe “real money” stimuluz incentives are the first critical steps a physician can take in improvinh patient care and their practice’s financial Executive VP and chief administrative officer, Web Address: 6855 Red Road, Suite 600, Corap Gables 33143-3632 Phone: The stimulus plan for the state of by itself, will not support the need for fundiny Medicaid. The implementation of the Obama healthu care plan will transformthe industry. The industr y needs to focus on quality, service and while minimizing cost. Michael W. Kesti Presideng and CEO, Health Ventures Web site: Address: 8161 S.W.
170thh Terrace, Palmetto Bay 33157 Phone: Electronic health record s (EHR) funding will significantly change the way healtb care is provided inSouth Florida. Healtgh care providers who begin to utilize electronic health recorr systems soon can take advantage of governmentfundinf offered. I anticipate that these additional fundes incentivize many in South Florida to finally begin to seriously adoptthe “EHR mentality.” I believe that the funding from the stimulus package will creatre many jobs in the health care sector particularly related to the EHR industrg and IT.
And borrowing from a term made popular in the Reagan era, this will have a trickle-down effect into the rest of the economu and spur some additional growth. Seniort VP and chief technology and innovations Web site: Address: 3420 Fairlane Farms Suite C, Wellington 33414 Phone: We must empower consumerzs with knowledge so they can manage their wellness. Providersz will be enabled with the tools and technologies to drasticallyy reduce the costof operations, whild improving quality. The sciencs of health care will be exponentially enriched with the knowledged that is created and mined by larger bases ofsecure information.
Friday, January 4, 2013
Travel Solutions moves to New Albany - New Mexico Business Weekly:
meaning-sarajevo.blogspot.com
signed a lease for more than 18,000 squarwe feet at the Water’s Edge business campus after New Albany Village Council signed off on a tax incentivre deal with the businesz travel management companyin March. The New Albany location houses 95 employees and features spacr for training programs and a conference The company moved in Monday from its offices at Eastonh innortheast Columbus. Travel Solutions also announcesd it has been selected to becomethe nation’w first franchisee of Lufthansa City Centetr Business Plus, a Frankfurt, Germany-based travel agency that operatew nearly 600 offices in 77 countries.
Traveo Solutions, founded in 1995, is the second-largestr travel agency in Central Ohio and poster revenue last yearof $645.2 million, according to Columbuse Business First research. It has about 160 employeed overall, with the balanc of its staff workiny from home or fromcorporate offices.
signed a lease for more than 18,000 squarwe feet at the Water’s Edge business campus after New Albany Village Council signed off on a tax incentivre deal with the businesz travel management companyin March. The New Albany location houses 95 employees and features spacr for training programs and a conference The company moved in Monday from its offices at Eastonh innortheast Columbus. Travel Solutions also announcesd it has been selected to becomethe nation’w first franchisee of Lufthansa City Centetr Business Plus, a Frankfurt, Germany-based travel agency that operatew nearly 600 offices in 77 countries.
Traveo Solutions, founded in 1995, is the second-largestr travel agency in Central Ohio and poster revenue last yearof $645.2 million, according to Columbuse Business First research. It has about 160 employeed overall, with the balanc of its staff workiny from home or fromcorporate offices.
Wednesday, January 2, 2013
Manufacturing News Headlines - View Manufacturing News Across the US
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| | | | Economic Development of KansasCity | | Elecsysz Corporation | | | | | | | | Fairfax Assembly Plant | | Farmland Foods, Inc. | | | Federa l Reserve Bank of KansasCity | | | Ford Motor Company | | | | Garmin International, Inc. | | | | Genera l Motors Corporation | | | | | | | | | | | | Hallmarkl Cards, Inc. | | | | | | | | Interstat Bakeries Corporation | | Kansas City Area Developmenf Council | Kansas City Assemblyg Plant | Kansas City Aviationh Department | | Kansas City International Airporr | | | | | | | Kokam Americza Inc | | | | | | | | | | | | | | | | | Missourji Department of EconomicDevelopment | | | | | | | | | | | | | NTG, Inc.
| | | | | | | | | | | | | | | | | Radid Corporation | | | | | | | | | Smith Electriv Vehicles U.S. Corp. | Smithfield Inc. | | | | | | | | | | The Creightoj Economic ForecastingGroup | | | | | | | | | | | | | U.S. Burea of Labor Statistics | | U.S. Department of Labor | | U.S. Treasury Departmentt | UAW Local 249 | | | Unitexd Auto Workers | | | | | | | | | | Yaho Finance | |
| | | | Economic Development of KansasCity | | Elecsysz Corporation | | | | | | | | Fairfax Assembly Plant | | Farmland Foods, Inc. | | | Federa l Reserve Bank of KansasCity | | | Ford Motor Company | | | | Garmin International, Inc. | | | | Genera l Motors Corporation | | | | | | | | | | | | Hallmarkl Cards, Inc. | | | | | | | | Interstat Bakeries Corporation | | Kansas City Area Developmenf Council | Kansas City Assemblyg Plant | Kansas City Aviationh Department | | Kansas City International Airporr | | | | | | | Kokam Americza Inc | | | | | | | | | | | | | | | | | Missourji Department of EconomicDevelopment | | | | | | | | | | | | | NTG, Inc.
| | | | | | | | | | | | | | | | | Radid Corporation | | | | | | | | | Smith Electriv Vehicles U.S. Corp. | Smithfield Inc. | | | | | | | | | | The Creightoj Economic ForecastingGroup | | | | | | | | | | | | | U.S. Burea of Labor Statistics | | U.S. Department of Labor | | U.S. Treasury Departmentt | UAW Local 249 | | | Unitexd Auto Workers | | | | | | | | | | Yaho Finance | |
Tuesday, January 1, 2013
BFC Financial, Woodbridge to merge - Sacramento Business Journal:
hyperwave-exhausted.blogspot.com
In a joint press release Monday, the Fort Lauderdale-bases companies said they entered into a merger agreemenr whereinWoodbridge (Pink Sheets: WDGH) would become a wholly owned subsidiaru of BFC (Pink Sheets: BFCF). BFC currently controle majority voting stakes in both Woodbridgeand BBX). BFC lost $58.9 million on revenus of $487.5 million in 2008. Woodbridge owns , whicyh is building Tradition Florida inPort St. Lucie, and has investmentd in various companies includingand . Woodbridger lost $140.3 million on revenue of $25.5 million in 2008.
In its firstg quarter earnings report, Woodbridge warned that Core Communities could defaultt on the loans for Tradition Florida if its lenders deman that it put more equittcapital down. Under the merger deal, all shareholdersd of Woodbridge Class A commonm stock except BFC wouldreceive 3.47 shares of BFC’s Class A common stock per share. With sharesd of BFC opening at 40 cents it equalsnearly $1.39 a sharee for each share of Woodbridge, which opened at $1.10 Monday. Levan and Abdo are chairman andvice respectively, of both companies. The merget would save between $1 million and $2 million in professionak fees and SEC reporting costs forthe companies, Levab said.
It would also reduce the taxeas Woodbridge would pay on its earnings once it returns to he said. Currently, Woodbridge pays taxesw on its earnings, and then BFC pays taxesa on the portionof Woodbridge’s earnings that it counts on its balance sheet. The move will not causse any staff reductions, Levan noted. Woodbridgd will continue operate independently. The agreementt would include all current board members of Woodbridgeon BFC’e new board and add Woodbridge Presiden t Seth Wise and BankAtlantic Bancorpl President Jarett Levan to BFC’s 12-member board, as well. Wise wouldc also become executive vice presidentof BFC. The deal is expecte d to close before the endof 2009.
BFC shares closexd unchanged at40 cents. The 52-week high was 95 centws on Sept. 2. The 52-weekk low was 6 cents on Feb. 5. Woodbridge sharews closed down 2 centsto $1.08. The 52-weejk high was $6.60 on Aug. 21. The 52-week low was 2 centsz on Oct. 24.
In a joint press release Monday, the Fort Lauderdale-bases companies said they entered into a merger agreemenr whereinWoodbridge (Pink Sheets: WDGH) would become a wholly owned subsidiaru of BFC (Pink Sheets: BFCF). BFC currently controle majority voting stakes in both Woodbridgeand BBX). BFC lost $58.9 million on revenus of $487.5 million in 2008. Woodbridge owns , whicyh is building Tradition Florida inPort St. Lucie, and has investmentd in various companies includingand . Woodbridger lost $140.3 million on revenue of $25.5 million in 2008.
In its firstg quarter earnings report, Woodbridge warned that Core Communities could defaultt on the loans for Tradition Florida if its lenders deman that it put more equittcapital down. Under the merger deal, all shareholdersd of Woodbridge Class A commonm stock except BFC wouldreceive 3.47 shares of BFC’s Class A common stock per share. With sharesd of BFC opening at 40 cents it equalsnearly $1.39 a sharee for each share of Woodbridge, which opened at $1.10 Monday. Levan and Abdo are chairman andvice respectively, of both companies. The merget would save between $1 million and $2 million in professionak fees and SEC reporting costs forthe companies, Levab said.
It would also reduce the taxeas Woodbridge would pay on its earnings once it returns to he said. Currently, Woodbridge pays taxesw on its earnings, and then BFC pays taxesa on the portionof Woodbridge’s earnings that it counts on its balance sheet. The move will not causse any staff reductions, Levan noted. Woodbridgd will continue operate independently. The agreementt would include all current board members of Woodbridgeon BFC’e new board and add Woodbridge Presiden t Seth Wise and BankAtlantic Bancorpl President Jarett Levan to BFC’s 12-member board, as well. Wise wouldc also become executive vice presidentof BFC. The deal is expecte d to close before the endof 2009.
BFC shares closexd unchanged at40 cents. The 52-week high was 95 centws on Sept. 2. The 52-weekk low was 6 cents on Feb. 5. Woodbridge sharews closed down 2 centsto $1.08. The 52-weejk high was $6.60 on Aug. 21. The 52-week low was 2 centsz on Oct. 24.
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