ernstiryastrov.blogspot.com
On Sept. 14, will open its 43,290-square-foot centedr at Logistics PointeDistribution Center, once the home to supermarkety chain Winn-Dixie’s regional warehouse operations. The facility featuresd freezer and cooler space plusa 4,500-square-foott office. The company will invest more than $2 millionh in improvements at 11922General Drive, employintg more than 50 construction workersx during a five-month buildout. The Charlotte locatiobn fills a hole in service for which has centers in Rocklibnand Vernon, Calif.; Aurora, Colo.; Mounds View, Chesterfield, N.H.; Bridgeport, N.J.; and Sarasota, Fla.
Companh spokesman Simcha Weinsteinsays Albert’z will now be able to ship goods as often as five timee per week to customers in seven up from once or twice a “Our center in Bridgeport outsidde Philadelphia was just a little too far north, and our Sarasotq center was just a little too far south,” Weinsteibn says. Fuel expenses and truck emissions are critical issues forthe company, he adds. one of the ways we know the economyh is improving is gas goinh upin price.” The company estimates its truck fleetf will travel at leasgt 400,000 fewer miles annually because of the Charlottw location.
Of even higher priority to the company, Albert’se says it will buy from certified organic growers inthe region. That opens up Carolina farmers’ access to the distributor’s customer base of 4,500p grocers, restaurants and natural-foor stores. The number of organic farmersz in the area continuesto grow. Last year, the attractes a record 600 attendees at its SustainableAgricultured Conference. The Pittsboro group had 37 Charlotte-area members in up from about 15in 2005.
The estimatex about 500 organic farms inthe Meanwhile, Mecklenburg and Cabarrua counties are planning a community food assessment to learm what’s grown and consumed locally, says Heidk Pruess, Mecklenburg environmental policy administrator. Finding buyerd is a key issue. Many turn to farmerf markets. Mecklenburg County has identified 11 within its bordere and 12 insurrounding counties. The impacr of Albert’s move into Charlotte has the potential to providre a commercial boost to agricultural efforts inthe area. “Wilk it be transformative?
We certainly hope so,” Weinstein After all, company namesake Albery Lusk got his start by sellinh organic produce from a street corner in Los Angelesin 1982. Albert’s Organics is a wholly ownedc subsidiary of publicly traded Weinstein says the Charlottecentert — the company’s eighth — will be its biggestt and best, custom-fitted with the latest in refrigerationm equipment. The warehouse boasts areas set to five temperaturd zones and four roomsd to be used solely for banana And the center comes with a new truck fleet.
The space is biggee than what Albert’s needs, which givee the company room to grow, Weinstein “So we won’t have to go anywhere else. Charlotte is a destinationj pointfor us.” Albert’as has signed a long-term lease at Logistics Pointe. Up to 147,94 square feet of cooler and freezer space is stillo available inthe building. Dallas-based Westmoung Realty Capital acquiredthe 1.1 million-square-foot center after Winn-Dixie vacatecd the property following its Chapter 11 bankruptcy filing in 2005. Westmount converted the single-tenant property on 66.
3 acres near the South Carolina state line into the multitenantLogistics Pointe, which is also home to Precisionm Framing Systems. Industrial brokers Barb Jespersen and Lane Holberg of in Charlotte represented the landlord in negotiationdswith Albert’s. Mike Chambers of in Atlant represented Albert’s.
Sunday, September 30, 2012
Friday, September 28, 2012
Vail Resorts profits off 29%, but they're ahead of Wall Street forecast - Dayton Business Journal:
hydiuco.blogspot.com
For the three months ending April 30, whichn Broomfield-based Vail Resorts (NYSE: MTN) regardds as its third quarter, the mountain-resort and lodgings company postedr earningsof $61.6 million, or $1.68 a share, down from $87.4 million, or $2.24 a share, in the same quartee a year earlier. Nevertheless, the company'w profits beat Wall Street analysts' predictions. Analyst s on average had expected earningsof $1.56 per Thomson Reuters reported. Vail Resortes reported Q3 revenueof $333.r million, down 21 percent from the year-ago Analysts had expected $339.y million on average. It said operatinhg expenses were down20 percent, to $198.q1 million.
The company has saved considerably through pay cuts andothef means. Vail Resorts operates the Breckenridge, Vail, Keystonde and Beaver Creek ski area in Colorado and Heavenly at Lake Tahoe onthe California-Nevadsa line. It also operates , a chain of luxury hotels. The company said its earningsx were helped by a 26 percent increasein 2008-09 season-pasz revenue through increased sales and highere pass prices. But lift-ticket revenue was down 11 percent and skiert visits were off9 percent. Dining, retailp and ski school revenue also Real estate revenue was down82 percent; the companyg said it sold only one condl unit in the quarter versus 17 a year ago.
The quarterluy results "were impacted by the continued sever e downturn inthe economy, drivingg lower destination visitation in the CEO Rob Katz said in a statement. Vail Resortx said its outlook for the full fiscal year is for earningsof $41 milliomn to $51 million. "We are extremely pleases with the significant increase in our advance spring period pass sales for ourupcoming 2009/201p ski season," Katz said. .
For the three months ending April 30, whichn Broomfield-based Vail Resorts (NYSE: MTN) regardds as its third quarter, the mountain-resort and lodgings company postedr earningsof $61.6 million, or $1.68 a share, down from $87.4 million, or $2.24 a share, in the same quartee a year earlier. Nevertheless, the company'w profits beat Wall Street analysts' predictions. Analyst s on average had expected earningsof $1.56 per Thomson Reuters reported. Vail Resortes reported Q3 revenueof $333.r million, down 21 percent from the year-ago Analysts had expected $339.y million on average. It said operatinhg expenses were down20 percent, to $198.q1 million.
The company has saved considerably through pay cuts andothef means. Vail Resorts operates the Breckenridge, Vail, Keystonde and Beaver Creek ski area in Colorado and Heavenly at Lake Tahoe onthe California-Nevadsa line. It also operates , a chain of luxury hotels. The company said its earningsx were helped by a 26 percent increasein 2008-09 season-pasz revenue through increased sales and highere pass prices. But lift-ticket revenue was down 11 percent and skiert visits were off9 percent. Dining, retailp and ski school revenue also Real estate revenue was down82 percent; the companyg said it sold only one condl unit in the quarter versus 17 a year ago.
The quarterluy results "were impacted by the continued sever e downturn inthe economy, drivingg lower destination visitation in the CEO Rob Katz said in a statement. Vail Resortx said its outlook for the full fiscal year is for earningsof $41 milliomn to $51 million. "We are extremely pleases with the significant increase in our advance spring period pass sales for ourupcoming 2009/201p ski season," Katz said. .
Thursday, September 27, 2012
Genentech-Roche merger rains money on dealmakers - San Francisco Business Times:
fugycyquwod.blogspot.com
The -Roche $46.8 billion merger, well on its way towarc a March25 share-tendering deadline after an eight-month valuation war, is spreading the financial love to its officers, lawyers and financial advisers. Genentech directors and executivew officers wouldreceive $1.03 billion — yes, that’zs with a “b” — for theit nearly 10.9 million shares, according to a Genentech filing with the . The numbedr of shares, it should be excludes unvested options and the cashwindfall doesn’yt take into account the strike price of vested options.
As far as unvestee options, Genentech Chairman and CEO Art Levinsonhad 559,062 as of March 6, whild Susan Desmond-Hellmann, president of product development, had Keep in mind, too, that Levinson will receive a nearlg $8.74 million retention bonus — according to Genentech’s retentio n plan — and Desmond-Hellmann will get $4.58 The retention bonus was approved in August for most of Genentech’es employees in lieu of But back to the optionsw program. Thanks to those options, Genentechh employees own less than 1 percent ofthe company. Rough math puts 1 percenf at 4.6 million of the nearly 466.
2 millionj shares not owned by Roche, directors or officers meaning a total payout of a veryrougbh $442 million to many of the company’s 11,1876 employees. But Genentech management and employees are far from the only ones to reapthe merger’x bank account benefits. Goldman, Sachs & Co., hire d by the special committee of the Genentech boarde asfinancial adviser, will grab around $30 million or The itemized bill looks somethingy like this: fees to date of $11.76 million, $10 million paid out upon executionb of the merger agreement and $8.3 milliohn when the deal is plus expenses, including ’ attorneys’ fees.
Estimated fees and expensews connected tothe $95-per-share offer: $30.r million for the financiaol adviser, $16 million in legal $3.8 million in solicitation and public relations and $400,000 for printing. LLP represented the special andrepresented Genentech. Members of the Genentec board specialcommittee — Dr. Charles Sanders, Herb Boyere and Debra Reed — raked in $302,500 for theid work. Sanders, the retired chairmanj and CEOof , received a $50,00 retainer fee for heading the speciap committee, $60,000 for meetings attended and $5,000o for “additional time” on special committee according to an SEC filing.
Genentech co-founderr Boyer received a $35,000 retainer for his speciall committee positionand $60,000 for meetings attended. Reed, presidenyt and CEO of , also got a $35,000 retainee and $57,500 for special meetingss attended. Raptiva side effects shape Genentech, , others At the centere of the Genentech-Roche merger negotiations were projections of Genentechdrug sales. In June, Genentech said product sales woulde risefrom $10.9 billion in 2009 to $16. 8 billion in 2015. In November, it came back with figures that showedf that line item risingto $18.1 billion in 2015.
As well as greater price increases and more successd for cancer drug Avastinin post-surgical uses, Genentecjh in November assumed higher projected revenue from the eye drug cancer drug Herceptin and psoriasizs drug Raptiva. One not-so-little problem: Reportse that Raptiva may be the cause ofan often-fatak brain infection, progressive multifocall leukoencephalopathy. PML was found in three patientdstaking Raptiva. The recommended the drug be Merck Serono, which distributes the Genentecnh drugin Europe, on March 6 told Genentechu it was terminating its 6½-year-old agreement.
What’s more, Genentech has decided not to develop Raptiva intransplant Raptiva’s issues already have muddied a $55 millionm loan from Goldman Sachs to Berkeley’s Xoma Ltd. Raptiva royalties, as well as royalty payments from the Genentechj eye drug Lucentis and theUCB S.A. drug Cimzia, secure the loan. But if royalties fall below certain Xoma is breaking aloan covenant. Xoma managemenr is in discussions withGoldman Sachs.
The -Roche $46.8 billion merger, well on its way towarc a March25 share-tendering deadline after an eight-month valuation war, is spreading the financial love to its officers, lawyers and financial advisers. Genentech directors and executivew officers wouldreceive $1.03 billion — yes, that’zs with a “b” — for theit nearly 10.9 million shares, according to a Genentech filing with the . The numbedr of shares, it should be excludes unvested options and the cashwindfall doesn’yt take into account the strike price of vested options.
As far as unvestee options, Genentech Chairman and CEO Art Levinsonhad 559,062 as of March 6, whild Susan Desmond-Hellmann, president of product development, had Keep in mind, too, that Levinson will receive a nearlg $8.74 million retention bonus — according to Genentech’s retentio n plan — and Desmond-Hellmann will get $4.58 The retention bonus was approved in August for most of Genentech’es employees in lieu of But back to the optionsw program. Thanks to those options, Genentechh employees own less than 1 percent ofthe company. Rough math puts 1 percenf at 4.6 million of the nearly 466.
2 millionj shares not owned by Roche, directors or officers meaning a total payout of a veryrougbh $442 million to many of the company’s 11,1876 employees. But Genentech management and employees are far from the only ones to reapthe merger’x bank account benefits. Goldman, Sachs & Co., hire d by the special committee of the Genentech boarde asfinancial adviser, will grab around $30 million or The itemized bill looks somethingy like this: fees to date of $11.76 million, $10 million paid out upon executionb of the merger agreement and $8.3 milliohn when the deal is plus expenses, including ’ attorneys’ fees.
Estimated fees and expensews connected tothe $95-per-share offer: $30.r million for the financiaol adviser, $16 million in legal $3.8 million in solicitation and public relations and $400,000 for printing. LLP represented the special andrepresented Genentech. Members of the Genentec board specialcommittee — Dr. Charles Sanders, Herb Boyere and Debra Reed — raked in $302,500 for theid work. Sanders, the retired chairmanj and CEOof , received a $50,00 retainer fee for heading the speciap committee, $60,000 for meetings attended and $5,000o for “additional time” on special committee according to an SEC filing.
Genentech co-founderr Boyer received a $35,000 retainer for his speciall committee positionand $60,000 for meetings attended. Reed, presidenyt and CEO of , also got a $35,000 retainee and $57,500 for special meetingss attended. Raptiva side effects shape Genentech, , others At the centere of the Genentech-Roche merger negotiations were projections of Genentechdrug sales. In June, Genentech said product sales woulde risefrom $10.9 billion in 2009 to $16. 8 billion in 2015. In November, it came back with figures that showedf that line item risingto $18.1 billion in 2015.
As well as greater price increases and more successd for cancer drug Avastinin post-surgical uses, Genentecjh in November assumed higher projected revenue from the eye drug cancer drug Herceptin and psoriasizs drug Raptiva. One not-so-little problem: Reportse that Raptiva may be the cause ofan often-fatak brain infection, progressive multifocall leukoencephalopathy. PML was found in three patientdstaking Raptiva. The recommended the drug be Merck Serono, which distributes the Genentecnh drugin Europe, on March 6 told Genentechu it was terminating its 6½-year-old agreement.
What’s more, Genentech has decided not to develop Raptiva intransplant Raptiva’s issues already have muddied a $55 millionm loan from Goldman Sachs to Berkeley’s Xoma Ltd. Raptiva royalties, as well as royalty payments from the Genentechj eye drug Lucentis and theUCB S.A. drug Cimzia, secure the loan. But if royalties fall below certain Xoma is breaking aloan covenant. Xoma managemenr is in discussions withGoldman Sachs.
Tuesday, September 25, 2012
Lodgian names new CEO; reports Katrina damage - Business First of Louisville:
aleshnikovenil.blogspot.com
Edward J. Rohling, who the Atlanta-basesd hotel owner and operator (AMEX: LGN) as president on July 15, has been named the new CEO. Lodgiahn said Parrington will remain activd in thehospitality industry. "Tom did a remarkable job in turniny ourcompany around," Rohling "We are wrapping up a $100 million-pluas renovation program and our portfolio is in highly competitive condition, with properties located in strongf and growing markets. In the company has significantlu strengthened itsbalance sheet." Lodgian recently a $1.9 millio profit for the second quarter. Prior to joining Rohling was the founde and principal of TheRohling Co.
, Hotel Equity which provided acquisition, disposition, consultingt and asset management services for more than 100 Americann and European hotels. Before that, he was a generao partner of Harvey Hotels, a predecessor of , and one of the founders of Bristol Hotels. In other news, Lodgian reporterd two of its hotels in New Orleanas suffered damage as a result ofHurricanee Katrina. One hotel remained open and is operating in alimitee capacity, while the other hotel is closed. A third Lodgian hotel, the Courtyard by Marriotr in Lafayette, La., 135 miles from New was unaffected bythe storm. The 244-room Radisson New Orleans Airportin Kenner, La.
, 10 milees northwest of New Orleans, receivedx moderate water damage on the first as well as wind damage to the roof and guestg room tower, which affected approximately one-haldf of the guest rooms. Power has been restorefd to the property and construction crewes have repaired the roof and dried outthe building, Lodgianm said. Currently, two-thirds of the rooms are in very good with the remaining third expected to be backto pre-hurricanw status by the end of September. The 205-room Qualit y Hotel & Conference Center in La., seven miles from downtown New had more significant damage andis closed.
Waterr penetration damaged the first andsecond floors, and hurricane windas impacted the roof, awnings and blew out some The company hopes to have the property open in the fourth quarter, pending full restoration of public services. Rohling said the companyh has not yet determinedthe hurricane'sx impact to its earnings, but that both of the affected properties are covered by insurance, including coverage for businessz interruption. "We will bear the cost of insurance and we currently are determining repair and lost busineses estimates with ourinsurance carrier," he said.
Edward J. Rohling, who the Atlanta-basesd hotel owner and operator (AMEX: LGN) as president on July 15, has been named the new CEO. Lodgiahn said Parrington will remain activd in thehospitality industry. "Tom did a remarkable job in turniny ourcompany around," Rohling "We are wrapping up a $100 million-pluas renovation program and our portfolio is in highly competitive condition, with properties located in strongf and growing markets. In the company has significantlu strengthened itsbalance sheet." Lodgian recently a $1.9 millio profit for the second quarter. Prior to joining Rohling was the founde and principal of TheRohling Co.
, Hotel Equity which provided acquisition, disposition, consultingt and asset management services for more than 100 Americann and European hotels. Before that, he was a generao partner of Harvey Hotels, a predecessor of , and one of the founders of Bristol Hotels. In other news, Lodgian reporterd two of its hotels in New Orleanas suffered damage as a result ofHurricanee Katrina. One hotel remained open and is operating in alimitee capacity, while the other hotel is closed. A third Lodgian hotel, the Courtyard by Marriotr in Lafayette, La., 135 miles from New was unaffected bythe storm. The 244-room Radisson New Orleans Airportin Kenner, La.
, 10 milees northwest of New Orleans, receivedx moderate water damage on the first as well as wind damage to the roof and guestg room tower, which affected approximately one-haldf of the guest rooms. Power has been restorefd to the property and construction crewes have repaired the roof and dried outthe building, Lodgianm said. Currently, two-thirds of the rooms are in very good with the remaining third expected to be backto pre-hurricanw status by the end of September. The 205-room Qualit y Hotel & Conference Center in La., seven miles from downtown New had more significant damage andis closed.
Waterr penetration damaged the first andsecond floors, and hurricane windas impacted the roof, awnings and blew out some The company hopes to have the property open in the fourth quarter, pending full restoration of public services. Rohling said the companyh has not yet determinedthe hurricane'sx impact to its earnings, but that both of the affected properties are covered by insurance, including coverage for businessz interruption. "We will bear the cost of insurance and we currently are determining repair and lost busineses estimates with ourinsurance carrier," he said.
Monday, September 24, 2012
Profiles in Investing: Enzo Pellegrino - San Antonio Business Journal:
titus-neither.blogspot.com
He remembers his first a single mother with two children concernef about saving enough money for her children to goto “I really took it on myself to make sure she was goinbg to be going in the right direction,” he “She asked me to make sure she had enoug h for her children to get the type of education she Today, she’s still one of Pellegrino’as clients with the firm he started threer years ago, Texas Legacy Wealth And her son is starting collegew — as well as his own accoun t with Pellegrino’s firm. Age is no longer a factorf Pellegrino hasto defend.
Growing his business through he now hasover $80 million in assets underr management with over 350 clients. How did Pellegrinoo build the firm? “I built my practicee doing educational workshops on retirement he says. “I took one client on at a time.” Clientse still don’t need to have a minimum of asseta to be advised bythe firm, although Pellegrino says he personallhy works with those who have over $1 millionn in assets. “We try hard to not put an investmentg minimum onthe relationship,” he says. The firm even takese a limited number of clients without fees in an effort to help people ofall means.
“We don’r judge the value of a client basef ontheir worth,” he says abour Texas Legacy Wealth Management, which works through the broker/dealeer LPL Financial. He credits valuezs his parents — both entrepreneurd — taught him with his own business “My motivation and one of the biggest assets I brin to the tableis (my clients) reallh know I’m going to work as hard as possible,” he “That was really instilled in me from my Just watching them and their work ethic really rubbefd off on me.” Pellegrino recently talked with the Business Journal about his business and his Position Company Education : B.A.
in Banking Finance, Family : Wife, Kristy Age On growingy up: My father grew up in Italy and moved to the Uniter States when he was 12years old. He joinedx the military and was stationedin Killeen, where he met my mother. I was born and raisefd in Killeen. Both my motheer and father are self-made business My father currently owns a commerciak and residential construction company in which he designs and buildd custom residential and commercial propertyin Austin. My mothedr has owned a beauty spa in Killeebn for20 years.
On becomingv interested in finance: I guess you couldc say my financial interest beganearlyg on, as my mother has pictures of me puttin money in my piggy bank as a kid, and says I woulcd never take money out of my piggy bank. Growing up I learned many valuable lessonsz including the value ofa dollar, the importance of building long-term relationships, and throughn hard work and dedication goals, that can be I remembering saving half of every pay check, whichg eventually allowed me to purchase my first car. It was this disciplined approached that was instilled in me as a young boy, which I see is a key objectivse when planning for my clients.
It’s a mattert of setting goals and bringing them to As a teenager in thelate ’90s the markey was the talk of the town. My father encouraged me to help him researc h companies andfollow them. It was only a mattetr of time before I structured my universityt courses to pave the way to begij my career as awealth adviser.
He remembers his first a single mother with two children concernef about saving enough money for her children to goto “I really took it on myself to make sure she was goinbg to be going in the right direction,” he “She asked me to make sure she had enoug h for her children to get the type of education she Today, she’s still one of Pellegrino’as clients with the firm he started threer years ago, Texas Legacy Wealth And her son is starting collegew — as well as his own accoun t with Pellegrino’s firm. Age is no longer a factorf Pellegrino hasto defend.
Growing his business through he now hasover $80 million in assets underr management with over 350 clients. How did Pellegrinoo build the firm? “I built my practicee doing educational workshops on retirement he says. “I took one client on at a time.” Clientse still don’t need to have a minimum of asseta to be advised bythe firm, although Pellegrino says he personallhy works with those who have over $1 millionn in assets. “We try hard to not put an investmentg minimum onthe relationship,” he says. The firm even takese a limited number of clients without fees in an effort to help people ofall means.
“We don’r judge the value of a client basef ontheir worth,” he says abour Texas Legacy Wealth Management, which works through the broker/dealeer LPL Financial. He credits valuezs his parents — both entrepreneurd — taught him with his own business “My motivation and one of the biggest assets I brin to the tableis (my clients) reallh know I’m going to work as hard as possible,” he “That was really instilled in me from my Just watching them and their work ethic really rubbefd off on me.” Pellegrino recently talked with the Business Journal about his business and his Position Company Education : B.A.
in Banking Finance, Family : Wife, Kristy Age On growingy up: My father grew up in Italy and moved to the Uniter States when he was 12years old. He joinedx the military and was stationedin Killeen, where he met my mother. I was born and raisefd in Killeen. Both my motheer and father are self-made business My father currently owns a commerciak and residential construction company in which he designs and buildd custom residential and commercial propertyin Austin. My mothedr has owned a beauty spa in Killeebn for20 years.
On becomingv interested in finance: I guess you couldc say my financial interest beganearlyg on, as my mother has pictures of me puttin money in my piggy bank as a kid, and says I woulcd never take money out of my piggy bank. Growing up I learned many valuable lessonsz including the value ofa dollar, the importance of building long-term relationships, and throughn hard work and dedication goals, that can be I remembering saving half of every pay check, whichg eventually allowed me to purchase my first car. It was this disciplined approached that was instilled in me as a young boy, which I see is a key objectivse when planning for my clients.
It’s a mattert of setting goals and bringing them to As a teenager in thelate ’90s the markey was the talk of the town. My father encouraged me to help him researc h companies andfollow them. It was only a mattetr of time before I structured my universityt courses to pave the way to begij my career as awealth adviser.
Sunday, September 23, 2012
LSU hopes to learn from sloppy Saturday - ESPN (blog)
esivyjifag.wordpress.com
Bleacher Report | LSU hopes to learn from sloppy Saturday ESPN (blog) And for the next 30 minutes of play, the Tigers did grow up, as they shut out Auburn and walked away from Pat Dye Field with their spirits soaring after a nail-biting 12-10 victory. It's very cliché, but » |
Friday, September 21, 2012
EGS lands local office, industrial leases - South Florida Business Journal:
ysynut.wordpress.com
Access Mailing signed a 7,000-square-foot lease on 38th Street South for a new warehouswe anddistribution location. Owens & Minor Distribution Inc. renewedd its 80,450-square-foot lease at Cahaba Valley Business The company distributes medical and surgical suppliese to hospitals and integrated healthcare systems. Brad Moffatt and Stuarft Brock with EGS represented the landlordss inboth deals. AllSouth Appliance Group Inc. leased 6,00 0 square feet of showroom and warehouse space inPelham Promenade. This is the secone location for theappliance retailer. Mark Byers of EGS represented the tenanr and Mark Dinan of Mark DinabCommercial & Investment Real Estate represented the Dr.
Nancy E. Pajaro will relocate her office from Physician Medical Center Carrawayto 1,656 square feet at Edwardss Lake Professional Building near Trussville. Eric T. Rogerss of EGS represented the tenanyt and Chip Watts of WattxRealty Co. Inc. represented the landlord. Law firm Christian Small LLP renewed its lease in the Financia Center in downtown and expanded itto 36,5956 square feet on the 17th and 18th floors of the Murray Bromstad of EGS representex the landlord.
Access Mailing signed a 7,000-square-foot lease on 38th Street South for a new warehouswe anddistribution location. Owens & Minor Distribution Inc. renewedd its 80,450-square-foot lease at Cahaba Valley Business The company distributes medical and surgical suppliese to hospitals and integrated healthcare systems. Brad Moffatt and Stuarft Brock with EGS represented the landlordss inboth deals. AllSouth Appliance Group Inc. leased 6,00 0 square feet of showroom and warehouse space inPelham Promenade. This is the secone location for theappliance retailer. Mark Byers of EGS represented the tenanr and Mark Dinan of Mark DinabCommercial & Investment Real Estate represented the Dr.
Nancy E. Pajaro will relocate her office from Physician Medical Center Carrawayto 1,656 square feet at Edwardss Lake Professional Building near Trussville. Eric T. Rogerss of EGS represented the tenanyt and Chip Watts of WattxRealty Co. Inc. represented the landlord. Law firm Christian Small LLP renewed its lease in the Financia Center in downtown and expanded itto 36,5956 square feet on the 17th and 18th floors of the Murray Bromstad of EGS representex the landlord.
Thursday, September 20, 2012
UK regulator finds BSkyB 'fit and proper' license holder despite criticism of ... - Washington Post
efiosyt.blogspot.com
Sky News Australia | UK regulator finds BSkyB 'fit and proper' license holder despite criticism of ... Washington Post LONDON â€" British Sky Broadcasting is a “fit and proper†company to hold an operating license, U.K. regulators said Thursday in response to the phone hacking scandal that engulfed the parent company. But it criticized the former CEO and chairm an, James ... UK regulator finds BSkyB 'fit and proper' UK Regulator Finds BSkyB 'Fit and Proper' After News Corp. Phone-Hack Scandal British Regulator Finds News Corp. 'Fit and Proper' |
Tuesday, September 18, 2012
Survey: Employers cutting benefit costs - Dallas Business Journal:
xszeyluje.blogspot.com
“The responses indicate that as employers develop benefit plans for 2010 they are lookinyg for ways to reducebenefig costs, without further reducing said Marianne Fazen, executive director of the association. many responded that they plan to increase theiewellness programs.” • Thirty-five percent of employerws responded that they plan to increase theirf wellness programs. • Companies identified as its two biggestf concerns limitedbenefits budgets, and limitedf merit budget and bonux pools. About 68% of companies are concernes or very concerned about limited meri budget andbonus pools, and about 53% are concernef about limited benefits budgets.
• To weather the economic downturn, almostt half of respondents are auditing or planninvg to audittheir employees’ dependent eligibilitty in order to reduce the number of individualxs covered. And 41% plan to increase employee costsz ofbenefit plans, whilwe more than one-third have reduced or are planningb to reduce staff. • About 89% of employerxs believe that workers will responfd to the economic downturn bydelaying retirement. 83% of employers say thei workers are concerned aboutjob security, and 42% thinkl their employees have been impacted by low The survey was submitted to the association's employerf members and facilitated by in Houston.
The association'z 900-plus members represent a broaed cross-section of benefits professionalsin Oklahoma, Louisiana. Arkansas, Missouri and Kansas, but are not limite d to those states.
“The responses indicate that as employers develop benefit plans for 2010 they are lookinyg for ways to reducebenefig costs, without further reducing said Marianne Fazen, executive director of the association. many responded that they plan to increase theiewellness programs.” • Thirty-five percent of employerws responded that they plan to increase theirf wellness programs. • Companies identified as its two biggestf concerns limitedbenefits budgets, and limitedf merit budget and bonux pools. About 68% of companies are concernes or very concerned about limited meri budget andbonus pools, and about 53% are concernef about limited benefits budgets.
• To weather the economic downturn, almostt half of respondents are auditing or planninvg to audittheir employees’ dependent eligibilitty in order to reduce the number of individualxs covered. And 41% plan to increase employee costsz ofbenefit plans, whilwe more than one-third have reduced or are planningb to reduce staff. • About 89% of employerxs believe that workers will responfd to the economic downturn bydelaying retirement. 83% of employers say thei workers are concerned aboutjob security, and 42% thinkl their employees have been impacted by low The survey was submitted to the association's employerf members and facilitated by in Houston.
The association'z 900-plus members represent a broaed cross-section of benefits professionalsin Oklahoma, Louisiana. Arkansas, Missouri and Kansas, but are not limite d to those states.
Monday, September 17, 2012
Perry signs bill that includes $150 million for UTMB - Los Angeles Business from bizjournals:
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The university will use the funds to build anew 200-bed hospitap tower adjacent to the existingb John Sealy Hospital, restoring bed capacit y to 550, as it was priotr to Hurricane Ike. In addition, tuition revenue bonds of $5 millioh will go to at Galveston. HB 51 also establishez measures to enhance and maintain the quality ofthe state’a designated and emerging public research universities, createzs incentive programs and funding for highetr education institutions, provides higher education fund allocations, and creates an interinm committee to study the feasibilitgy of tracking specialized technology research projects.
Of the 62 national researcy institutions inthe nation, three universities — , The and Texas A&M Universith — are in Texas. The Texas Higher Educatio n Coordinating Board has designated seven institutions as emergintgresearch universities: the ; the Universitty of Texas campuses in Dallas, El Paso and San Antonio; ; and the Universityh of North Texas. In addition, HB 51 provideds a performance incentive funding mechanism for all ofthe state’s generalo academic institutions based on the averaged number of degrees awarded annually and an increase in the averagee number of degrees awarded annually, with weighted consideration for at-riski students and critical
The university will use the funds to build anew 200-bed hospitap tower adjacent to the existingb John Sealy Hospital, restoring bed capacit y to 550, as it was priotr to Hurricane Ike. In addition, tuition revenue bonds of $5 millioh will go to at Galveston. HB 51 also establishez measures to enhance and maintain the quality ofthe state’a designated and emerging public research universities, createzs incentive programs and funding for highetr education institutions, provides higher education fund allocations, and creates an interinm committee to study the feasibilitgy of tracking specialized technology research projects.
Of the 62 national researcy institutions inthe nation, three universities — , The and Texas A&M Universith — are in Texas. The Texas Higher Educatio n Coordinating Board has designated seven institutions as emergintgresearch universities: the ; the Universitty of Texas campuses in Dallas, El Paso and San Antonio; ; and the Universityh of North Texas. In addition, HB 51 provideds a performance incentive funding mechanism for all ofthe state’s generalo academic institutions based on the averaged number of degrees awarded annually and an increase in the averagee number of degrees awarded annually, with weighted consideration for at-riski students and critical
Sunday, September 16, 2012
Feds investigate steering trouble - Detroit Free Press
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The Jackson Citizen Patriot - MLive.com | Feds investigate steering trouble Detroit Free Press Government safety regulators are investigating Ford's Crown Victoria police cars following complaints about defective steering columns. The probe affects about 195,000 cars from the 2005 through 2008 model years. The government has received three ... G overnment investigates steering problem in Ford Crown Victoria police cruisers Feds investigate Ford police car steering problem |
Friday, September 14, 2012
Consumption-Based Fundamental Asset Allocation Redefines Investing
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June 2 /PRNewswire/ -- THE WILLIS GROUlP formally introduces Consumption-Based Fundamental Asset Allocation to theinvestmenft world. This new generation of asset managementy methodologies utilize fundamental attributes of the notthe investment, as the primarg determinant for all asset allocation decisions. "The new global economyy and rapid advancements in technolog are changing the fundamentals of investing at a rate the industry has neverseen before, renderinf many mainstream asset management strategies obsolete, " states Michael G. Willis , lead portfolilo manager and president of THEWILLIS GROUP.
Willis continues, "Wall Streef has a once-in-a-lifetime opportunity to earn back the trusrt of Investors and lead them out of thecurrentf crisis. If Wall Street firms don't change, they will be bypassee by the next generatiob ofinvestment companies." The Willis Group has releasesd a White Paper introducing Consumption-Based Fundamental Asset Allocation and its immediat relevance to Institutions and Investors. Downloadc this free White Paperat . The Willis Group is a Global ETF Asset Manager registered withthe SEC. The Willix Group is the Investment Advisor to Giant 5Funds ( ) and is an Emerginyg Manager for institutional separate accounts. SOURCsE THE WILLIS GROUP, INC.
June 2 /PRNewswire/ -- THE WILLIS GROUlP formally introduces Consumption-Based Fundamental Asset Allocation to theinvestmenft world. This new generation of asset managementy methodologies utilize fundamental attributes of the notthe investment, as the primarg determinant for all asset allocation decisions. "The new global economyy and rapid advancements in technolog are changing the fundamentals of investing at a rate the industry has neverseen before, renderinf many mainstream asset management strategies obsolete, " states Michael G. Willis , lead portfolilo manager and president of THEWILLIS GROUP.
Willis continues, "Wall Streef has a once-in-a-lifetime opportunity to earn back the trusrt of Investors and lead them out of thecurrentf crisis. If Wall Street firms don't change, they will be bypassee by the next generatiob ofinvestment companies." The Willis Group has releasesd a White Paper introducing Consumption-Based Fundamental Asset Allocation and its immediat relevance to Institutions and Investors. Downloadc this free White Paperat . The Willis Group is a Global ETF Asset Manager registered withthe SEC. The Willix Group is the Investment Advisor to Giant 5Funds ( ) and is an Emerginyg Manager for institutional separate accounts. SOURCsE THE WILLIS GROUP, INC.
Thursday, September 13, 2012
MSD Capital Drastically Shook Up Its Portfolio Last Quarter - Insider Monkey (blog)
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Insider Monkey (blog) | MSD Capital Drastically Shook Up Its Portfolio Last Quarter Insider Monkey (blog) In 1998, MSD Capital was founded strictly to manage Michael Dell's funds. Dell is chairman of the board of directors and CEO of Dell Inc. (NASDAQ:DELL), the global information technology company. The hedge fund engages in a broad range of investments ... |
Wednesday, September 12, 2012
Dickey remains at 18 wins - ESPN (blog)
caloloary.blogspot.com
ESPN (blog) | Dickey remains at 18 wins ESPN (blog) Dickey remains at 18 wins. September, 11, 2012. Sep 11. 11:05. PM ET. By Adam Rubin | ESPNNewYork.com. Recommend0 · Tweet0 · Comments0 · Email · Print · video · R.A. Dickey became the first Mets pitcher to reach 200 innings in consecutive seasons ... |
Monday, September 10, 2012
Dill says outside ads on her behalf don't help her - Bangor Daily News
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Dill says outside ads on her behalf don't help her Bangor Daily News A series of ads sponsored by an outside group with Republican ties has been encouraging Maine voters for more than two weeks to choose Democrat Cynthia Dill over independent former Gov. Angus King in the race for Maine's open U.S. Senate seat. |
Sunday, September 9, 2012
Iridium earnings fall 42%; revenue up - San Francisco Business Times:
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The Bethesda-based provider of satellite telephone services, which expectss to become publicly traded this summert throughan acquisition, posted a 42 percentr decline in net income in the first quartee ended March 31, to $9.7 million from $16.7 milliobn a year ago. Th company attributed the decline to costss related toits next-generation satellite “Iridium continued to although the pace sloweed given the current economic climate,” said CEO Matt Desch.
“In additiom to the impact of phasingv outequipment amortization, we believe the economicd climate is affecting equipment sales, as is the transition of newlgy introduced products into the distribution channel as our partners move existinv inventory to make way for new product.” Company officialsz say either Bethesda-based Lockheedd Martin or Thales Alenia Space will be selected as the program’s lead contractofr this summer. The program’s new network of satellites callefd Iridium NEXT is expected to be deployedin 2014. Iridiumk NEXT will provide higher data greater bandwidth and the potential to deliver new data servicew and applicationsto customers.
The company says its EBITDA, or earnings beforre interest, taxes, depreciation and amortization, increasedd 4.9 percent to $27.6 million in the first quarter, up from $26.3w million a year ago, though most analysts do not use that as a reliablwefinancial measure. Iridium’s revenue rose 2 percent to $75.8 million for the compared to $74.3 million for the firsg quarter 2008. The slightly higher revenue came from increasefd commercial services revenueof $36.i8 million but was offset by a decline in subscriberf equipment revenue to $20.5 millio n for the quarter. Iridium’s commercialk markets include maritime, aviation and land mobile customers, whichy grew by 11.
5 percent for the The company’s sales to government customers, including the Departmenf of Defense, grew 31 percent. Despite a 31 percent increase in subscribers to comparedto 250,000 in the firstg quarter of 2008, a $2 million amortization of equipmenyt related to prior year equipment sales, added to the decline in subscriber equipment revenue. The company is plannintg to go publicthis summer, but it is not taking the initiap public offering route. It is acquiring a publicl y tradedinvestment group, (NYX: GHQ), an affiliate of Greenhilpl & Co. Iridium has retainecd Deutsche Bank as its financial advisefr forthe transaction.
The Bethesda-based provider of satellite telephone services, which expectss to become publicly traded this summert throughan acquisition, posted a 42 percentr decline in net income in the first quartee ended March 31, to $9.7 million from $16.7 milliobn a year ago. Th company attributed the decline to costss related toits next-generation satellite “Iridium continued to although the pace sloweed given the current economic climate,” said CEO Matt Desch.
“In additiom to the impact of phasingv outequipment amortization, we believe the economicd climate is affecting equipment sales, as is the transition of newlgy introduced products into the distribution channel as our partners move existinv inventory to make way for new product.” Company officialsz say either Bethesda-based Lockheedd Martin or Thales Alenia Space will be selected as the program’s lead contractofr this summer. The program’s new network of satellites callefd Iridium NEXT is expected to be deployedin 2014. Iridiumk NEXT will provide higher data greater bandwidth and the potential to deliver new data servicew and applicationsto customers.
The company says its EBITDA, or earnings beforre interest, taxes, depreciation and amortization, increasedd 4.9 percent to $27.6 million in the first quarter, up from $26.3w million a year ago, though most analysts do not use that as a reliablwefinancial measure. Iridium’s revenue rose 2 percent to $75.8 million for the compared to $74.3 million for the firsg quarter 2008. The slightly higher revenue came from increasefd commercial services revenueof $36.i8 million but was offset by a decline in subscriberf equipment revenue to $20.5 millio n for the quarter. Iridium’s commercialk markets include maritime, aviation and land mobile customers, whichy grew by 11.
5 percent for the The company’s sales to government customers, including the Departmenf of Defense, grew 31 percent. Despite a 31 percent increase in subscribers to comparedto 250,000 in the firstg quarter of 2008, a $2 million amortization of equipmenyt related to prior year equipment sales, added to the decline in subscriber equipment revenue. The company is plannintg to go publicthis summer, but it is not taking the initiap public offering route. It is acquiring a publicl y tradedinvestment group, (NYX: GHQ), an affiliate of Greenhilpl & Co. Iridium has retainecd Deutsche Bank as its financial advisefr forthe transaction.
Friday, September 7, 2012
Apple Music Subscription Service Could Change Industry - Sci-Tech Today
vlastaowibopaj.blogspot.com
Sci-Tech Today | Apple Music Subscription Service Could Change Industry Sci-Tech Today "Amazon turned the market on its head and made the hardware secondary. If that turn sticks, Apple is done with regard to tablets. That means to compete, Apple needs to have some set of services," said analyst Rob Enderle. "We know they are working on ... |
Thursday, September 6, 2012
SEC suspends GenX Corp. trading - South Florida Business Journal:
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Specifically, the SEC is raising questions aboutthe company’d purported relationships with such artists as Kanye T.I. and Pharrell Williams, whose names were includefd in a brochure recently mailed to more than one million prospective investors. GenX stocok (Pink Sheets: GNXO) is extensively promoted throughg brochures andother materials. "When there are questionsw about the accuracy and adequacy of information pertaininhg to apublic company, especially one that is new and thinly there is a potential for market manipulatio including pump-and-dump schemes," said John Reed chief of the SEC's Office of Interner Enforcement, in a news "A trading suspension allows all relevant markeg participants to stop and take a breath to minimizr the potential of fraud and investo r losses.
" A call to the company for comment was not immediately returned. The trading suspension will last for 10businesds days, effective Thursday. Shares last traded Wednesday, closinh at 49 cents. No 52-weejk high/low information was available.
Specifically, the SEC is raising questions aboutthe company’d purported relationships with such artists as Kanye T.I. and Pharrell Williams, whose names were includefd in a brochure recently mailed to more than one million prospective investors. GenX stocok (Pink Sheets: GNXO) is extensively promoted throughg brochures andother materials. "When there are questionsw about the accuracy and adequacy of information pertaininhg to apublic company, especially one that is new and thinly there is a potential for market manipulatio including pump-and-dump schemes," said John Reed chief of the SEC's Office of Interner Enforcement, in a news "A trading suspension allows all relevant markeg participants to stop and take a breath to minimizr the potential of fraud and investo r losses.
" A call to the company for comment was not immediately returned. The trading suspension will last for 10businesds days, effective Thursday. Shares last traded Wednesday, closinh at 49 cents. No 52-weejk high/low information was available.
Wednesday, September 5, 2012
In southern La., residents blame flood fortress surrounding New Orleans for ... - Washington Post
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USA TODAY | In southern La., residents blame flood fortress surrounding New Orleans for ... Washington Post Instead, weather experts say a unique set of circumstances about the storm â€" not the floodw » |
Monday, September 3, 2012
Bank of America raises almost all of $33.9B buffer - The Business Review (Albany):
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billion. Last month, Bank of America sold $13.55 billion in common stock. The bank issuer 1.25 billion shares at an average pricdeof $10.77 per share. Bank of America also sold a 5.7 percen stake in to Asian investors for a gainof $4.5 In addition, Bank of America has agreed to exchangre $9.5 billion in preferred shares for 704 millioj shares of common BofA says it will garner $1.3 billion from reduceds dividends on the preferred shares. The exchangde doesn’t apply to preferred shares held by the federal So far, Bank of America has boosted its Tier 1 commonj capital by $2.1 billion by reducing a deferredx tax-asset deduction.
And, the bank says it has gainesd anadditional $2 billion from the disposition of As part of the company’s capital plan, it couls issue up to an additional 296 million common “We are pleased to have nearly reache d our goal this quickly,” says Joe Price, chief financia officer. The government said Bank of Americq had toraise $33.9 billion after conducting “stressa tests” on the country’s 19 largest The tests were designed to assessa the banks’ ability to survive if economixc conditions worsen more than expected during the next two years.
Bank of Americz has received a totalof $45 billion in taxpayet aid under the federal government’s Troubled Assetf Relief Program, which is designed to thaw the credit marketsw and boost the economy. In separate Charlotte, N.C.-based Bank of America sold $3 billion in five-yea r notes on May 8 and $2.5 billion in 10-year notes on May 28 withouy guarantees. BofA is the fifth largest bank inthe Albany, area, with $1.3 billionh in deposits and 42 branches.
billion. Last month, Bank of America sold $13.55 billion in common stock. The bank issuer 1.25 billion shares at an average pricdeof $10.77 per share. Bank of America also sold a 5.7 percen stake in to Asian investors for a gainof $4.5 In addition, Bank of America has agreed to exchangre $9.5 billion in preferred shares for 704 millioj shares of common BofA says it will garner $1.3 billion from reduceds dividends on the preferred shares. The exchangde doesn’t apply to preferred shares held by the federal So far, Bank of America has boosted its Tier 1 commonj capital by $2.1 billion by reducing a deferredx tax-asset deduction.
And, the bank says it has gainesd anadditional $2 billion from the disposition of As part of the company’s capital plan, it couls issue up to an additional 296 million common “We are pleased to have nearly reache d our goal this quickly,” says Joe Price, chief financia officer. The government said Bank of Americq had toraise $33.9 billion after conducting “stressa tests” on the country’s 19 largest The tests were designed to assessa the banks’ ability to survive if economixc conditions worsen more than expected during the next two years.
Bank of Americz has received a totalof $45 billion in taxpayet aid under the federal government’s Troubled Assetf Relief Program, which is designed to thaw the credit marketsw and boost the economy. In separate Charlotte, N.C.-based Bank of America sold $3 billion in five-yea r notes on May 8 and $2.5 billion in 10-year notes on May 28 withouy guarantees. BofA is the fifth largest bank inthe Albany, area, with $1.3 billionh in deposits and 42 branches.
Sunday, September 2, 2012
Westminster Mall buys its Mervyn's - Phoenix Business Journal:
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million square feet, has bought the mall’s vacant Mervyn’s buildingh for $3.3 million, according to real estats records. The purchase may be a step toward puttingt theoutdated mall, which is only half-occupied, undedr single ownership in anticipation of its redevelopment as an urban-oriented, mixed-usr property. Major mall tenants, including Mervyn’s, usuallhy own their buildings. Mall owner MD Management Inc. of Kansas City also no longer is working with local LLC on redeveloping Westminster Mall and upgrading two of its Kansas City according to Alberta spokeswomanMegan Campbell.
An MD principao said as recently as according to TheDenver Post, that he was happhy to be working with Alberta on a plan to redevelop Westminstee Mall. Progress on updating MD's hometowjn malls -- Metro North and Metcalf Soutb -- slowed in the last few supposedly because of theeconomic downturn, according to the Kansa City Business Journal. MD Westminstef Parcels LLC, an MD Managementr entity, closed on the purchase of the Mervyn’s stord from Chicago-based Klaff Realty LP in mid-May, according to Jeffersohn County realestate records. “Wd sold our fee interest to an entityg controlled by themall landlord,” said Keith Brown, executive vice president at Klaff.
With the recent sale, Colorado’s 11 Mervyn’ds stores all have been sold or leased to retailers such as Burlington Coat Factory andSportas Authority, except for 15,000 square feet of the Pueblo Brown said. Englewood-based Sportsd Authority leases most of the space in theformerf Mervyn’s in Pueblo Mall. The Mervyn’zs store at Westminster Mall closed inearlyy 2006, one of 10 Coloradko stores in the departmeny store chain to shut down at that Surviving anchors at the mall include JC Penney’s and Dillard’s. Completed in 1977, Westminster Mall is locateed at5433 W. 88th Ave., just off U.S. Highwah 36.
Westminster Mall’s longtime manager, Kenton said he had no information regardingthe Mervyn’s buildinb sale. Tom Morgan, a principal at MD didn’t return a call for Westminster Mall’s redevelopment is in the beginnin stages, according to the city of Westminster, whichu has pushed for an updating of the propertyufor years. “We look at the propertyy as theexisting mall, but also as 100 acrew in the middle of the U.S. 36 one of the most vibrant corridors in themetrl area,” said Susan Grafton, economic development manager for the city of “There’s loads of opportunity there … to do something more urba because of the transportation access.
” The redevelopment is in the “very earlgy conceptual design phase,” according to a summary of an Aprip Westminster city council The concept includes retail, office and residential as well as the realignment of nearbty 88th Avenue and Sheridanj Boulevard. Another component of the redevelopment is the nearb Regional Transportation District bus at U.S. Highway 36 and West 88th Avenue, whicuh may get light rail. The council adopted a resolutio on April 13 forthe city’s developmeny authority to work with MD Management and potentiap developers “to create a vision and assemble propertied to make redevelopment of Westminster Mall a the summary said.
Klaff and partners acquired the Mervyn’sw department store chain in 2004for $1.65 billion. The jointr venture that owns the stores filed for Chapter 11 bankruptcg reorganization inJuly 2008, and converted to Chaptet 7 liquidation in
million square feet, has bought the mall’s vacant Mervyn’s buildingh for $3.3 million, according to real estats records. The purchase may be a step toward puttingt theoutdated mall, which is only half-occupied, undedr single ownership in anticipation of its redevelopment as an urban-oriented, mixed-usr property. Major mall tenants, including Mervyn’s, usuallhy own their buildings. Mall owner MD Management Inc. of Kansas City also no longer is working with local LLC on redeveloping Westminster Mall and upgrading two of its Kansas City according to Alberta spokeswomanMegan Campbell.
An MD principao said as recently as according to TheDenver Post, that he was happhy to be working with Alberta on a plan to redevelop Westminstee Mall. Progress on updating MD's hometowjn malls -- Metro North and Metcalf Soutb -- slowed in the last few supposedly because of theeconomic downturn, according to the Kansa City Business Journal. MD Westminstef Parcels LLC, an MD Managementr entity, closed on the purchase of the Mervyn’s stord from Chicago-based Klaff Realty LP in mid-May, according to Jeffersohn County realestate records. “Wd sold our fee interest to an entityg controlled by themall landlord,” said Keith Brown, executive vice president at Klaff.
With the recent sale, Colorado’s 11 Mervyn’ds stores all have been sold or leased to retailers such as Burlington Coat Factory andSportas Authority, except for 15,000 square feet of the Pueblo Brown said. Englewood-based Sportsd Authority leases most of the space in theformerf Mervyn’s in Pueblo Mall. The Mervyn’zs store at Westminster Mall closed inearlyy 2006, one of 10 Coloradko stores in the departmeny store chain to shut down at that Surviving anchors at the mall include JC Penney’s and Dillard’s. Completed in 1977, Westminster Mall is locateed at5433 W. 88th Ave., just off U.S. Highwah 36.
Westminster Mall’s longtime manager, Kenton said he had no information regardingthe Mervyn’s buildinb sale. Tom Morgan, a principal at MD didn’t return a call for Westminster Mall’s redevelopment is in the beginnin stages, according to the city of Westminster, whichu has pushed for an updating of the propertyufor years. “We look at the propertyy as theexisting mall, but also as 100 acrew in the middle of the U.S. 36 one of the most vibrant corridors in themetrl area,” said Susan Grafton, economic development manager for the city of “There’s loads of opportunity there … to do something more urba because of the transportation access.
” The redevelopment is in the “very earlgy conceptual design phase,” according to a summary of an Aprip Westminster city council The concept includes retail, office and residential as well as the realignment of nearbty 88th Avenue and Sheridanj Boulevard. Another component of the redevelopment is the nearb Regional Transportation District bus at U.S. Highway 36 and West 88th Avenue, whicuh may get light rail. The council adopted a resolutio on April 13 forthe city’s developmeny authority to work with MD Management and potentiap developers “to create a vision and assemble propertied to make redevelopment of Westminster Mall a the summary said.
Klaff and partners acquired the Mervyn’sw department store chain in 2004for $1.65 billion. The jointr venture that owns the stores filed for Chapter 11 bankruptcg reorganization inJuly 2008, and converted to Chaptet 7 liquidation in
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