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Monday, March 7, 2011
Friday, March 4, 2011
Treasury Department to buy $15B in SBA securities - Business First of Columbus:
http://egsbrokerage.com/il/ilstudenthealth.htm
This should increase SBA lending to small businesses by enablintg lenders to sell their existing loans on thesecondary market, accordinfg to the White House. This will free up capita l to makenew loans. The new SBA secondargy market initiative was announced Mondaty by President Barack Obama as part of a largedr effort to boost SBA Lendingthrough SBA’s flagship 7(a) business loan progran is down 58 percent this fiscal year compareed with the same period last year. Lendinf through the 504 program, which primarily finances real is down47 percent. Small businesses are “not only job generators, but the heart of the Americab dream,” Obama said.
Today, however, “too many entrepreneursa can’t access the capital” they need to start or grow theire businesses. “Less lending leads to fewer jobs andlower spending, whichh leads to less lending, a vicious cycle that delays recovery,” Obama said. Besides the new secondary market Obama also announced plans for implementinggthe SBA-related provisions included in the economic stimuluz bill.
Beginning Monday, the SBA will guaranteew up to 90 percenyt ofeach 7(a) loan made by private-sector an increase from the normal 75 percent to 85 percent This higher guarantee will encourags lenders to make more SBA loans, because they will have more protectionh against possible loan according to the Obama administration. Upfront fees on 7(a) loanes that lenders pass along to borrowers also will betemporarilh eliminated, as will fees on 504 loans. Borrowers or lenderz who were charged any of these feessince Feb. 17 -- the day the economidc stimulus bill wassigned -- will receiv a refund.
The new initiatives will help communithy banks make moreSBA loans, said Cynthias Blankenship, vice chairman of Bank of the West in Grapevine, Texas. “Thiws is an incredible tool for community banks nationwide to help jump start the economy and thecredit markets,” Blankenship said. Because of the frozehn secondary market forSBA loans, her bank has been holding $11 millionn of these loans on its These loans now can be freeing up money to make new loans.
Marco Lentini, who used an SBA loan to startrhis Gia’Pronto organic food restaurantf six years ago, said the elimination of SBA loan fees and otheer measures in the stimulus bill, will help him keep Treasury Secretary Timothy Geithner called on all not just SBA lenders, to increase their lending to small The administration will require the 21 largest banks who have received governmen t funds through the economic rescue package to report how much small business lending they do ever month. All banks will have to report their totalo lending to small businesseseveryh quarter, instead of just once a year.
“We need every bank in the countryh to do everything in their powet to provide the credit that smallo businesses needto operate, expand and add jobs,” Geithnet said. “You need to make the extrza effort to make sure that good loanas are getting to creditworthy smallo businesses in order to serv the larger public good of movinyg this nationtowards recovery. And given the role many bankes played in causingthis crisis, you bear a specia responsibility for helping America get out of it.” The chaird of the House Small Business Committeee praised Obama for acting quickly to implement the SBA loan changex included in the economicf stimulus legislation.
“His efforts send a clearr message to entrepreneurs aroundthe country: You are centra to our economic recovery strategy,” said Rep. Nydiw Velazquez, D-N.Y. “The ability to secure a loan at affordable terms often makes the difference betweejn whether a small firmstays afloat, grows and create or shuts it doors,” Velazquez “The policies put forth today will go a long way towars addressing the credit shortage that smalp firms face.
” Acting SBA Administrator Daryl Hairston said the agencyy agrees with Obama that “we owe it to America’s smalkl businesses to be the partner they need in the midst of this “We hope small businesses will take the opportunity to ask theier banks about the SBA loans that might be available to Hairston said. “And we encouraged community banks and other lenders to work with us to reachb as many qualified borrowers as we can durint thesedifficult times.” Given the weak stats of the economy, however, it is not clear how many small businesses want to borrow money at this time.
A survey of smallo business owners conducted last month for Discovef Financial Services found that 23 percenty said they would be very likelyg to apply for an SBA loan if they becamse easierto get. Anotherf 17 percent said it was somewhat likely they woul apply for anSBA loan. The surveyg found, however, that 90 percentr of small businesses had never appliede for anSBA loan.
This should increase SBA lending to small businesses by enablintg lenders to sell their existing loans on thesecondary market, accordinfg to the White House. This will free up capita l to makenew loans. The new SBA secondargy market initiative was announced Mondaty by President Barack Obama as part of a largedr effort to boost SBA Lendingthrough SBA’s flagship 7(a) business loan progran is down 58 percent this fiscal year compareed with the same period last year. Lendinf through the 504 program, which primarily finances real is down47 percent. Small businesses are “not only job generators, but the heart of the Americab dream,” Obama said.
Today, however, “too many entrepreneursa can’t access the capital” they need to start or grow theire businesses. “Less lending leads to fewer jobs andlower spending, whichh leads to less lending, a vicious cycle that delays recovery,” Obama said. Besides the new secondary market Obama also announced plans for implementinggthe SBA-related provisions included in the economic stimuluz bill.
Beginning Monday, the SBA will guaranteew up to 90 percenyt ofeach 7(a) loan made by private-sector an increase from the normal 75 percent to 85 percent This higher guarantee will encourags lenders to make more SBA loans, because they will have more protectionh against possible loan according to the Obama administration. Upfront fees on 7(a) loanes that lenders pass along to borrowers also will betemporarilh eliminated, as will fees on 504 loans. Borrowers or lenderz who were charged any of these feessince Feb. 17 -- the day the economidc stimulus bill wassigned -- will receiv a refund.
The new initiatives will help communithy banks make moreSBA loans, said Cynthias Blankenship, vice chairman of Bank of the West in Grapevine, Texas. “Thiws is an incredible tool for community banks nationwide to help jump start the economy and thecredit markets,” Blankenship said. Because of the frozehn secondary market forSBA loans, her bank has been holding $11 millionn of these loans on its These loans now can be freeing up money to make new loans.
Marco Lentini, who used an SBA loan to startrhis Gia’Pronto organic food restaurantf six years ago, said the elimination of SBA loan fees and otheer measures in the stimulus bill, will help him keep Treasury Secretary Timothy Geithner called on all not just SBA lenders, to increase their lending to small The administration will require the 21 largest banks who have received governmen t funds through the economic rescue package to report how much small business lending they do ever month. All banks will have to report their totalo lending to small businesseseveryh quarter, instead of just once a year.
“We need every bank in the countryh to do everything in their powet to provide the credit that smallo businesses needto operate, expand and add jobs,” Geithnet said. “You need to make the extrza effort to make sure that good loanas are getting to creditworthy smallo businesses in order to serv the larger public good of movinyg this nationtowards recovery. And given the role many bankes played in causingthis crisis, you bear a specia responsibility for helping America get out of it.” The chaird of the House Small Business Committeee praised Obama for acting quickly to implement the SBA loan changex included in the economicf stimulus legislation.
“His efforts send a clearr message to entrepreneurs aroundthe country: You are centra to our economic recovery strategy,” said Rep. Nydiw Velazquez, D-N.Y. “The ability to secure a loan at affordable terms often makes the difference betweejn whether a small firmstays afloat, grows and create or shuts it doors,” Velazquez “The policies put forth today will go a long way towars addressing the credit shortage that smalp firms face.
” Acting SBA Administrator Daryl Hairston said the agencyy agrees with Obama that “we owe it to America’s smalkl businesses to be the partner they need in the midst of this “We hope small businesses will take the opportunity to ask theier banks about the SBA loans that might be available to Hairston said. “And we encouraged community banks and other lenders to work with us to reachb as many qualified borrowers as we can durint thesedifficult times.” Given the weak stats of the economy, however, it is not clear how many small businesses want to borrow money at this time.
A survey of smallo business owners conducted last month for Discovef Financial Services found that 23 percenty said they would be very likelyg to apply for an SBA loan if they becamse easierto get. Anotherf 17 percent said it was somewhat likely they woul apply for anSBA loan. The surveyg found, however, that 90 percentr of small businesses had never appliede for anSBA loan.
Wednesday, March 2, 2011
FEMA to pay Houston $2.4 million - Houston Business Journal:
younkinesagugad1746.blogspot.com
million after losing two appeals relatex to emergency housing reimbursement expense related toHurricane Katrina. “We will finally receiv e the outstanding federal funds that Houston is entitled to be repaidx for our considerable financiao commitment in the wake ofHurricane Katrina,” said City Councilwomabn Ann Clutterbuck. Clutterbuck and fellow councilman Ronald Green defended the appeals to FEMA Disastedr Assistance representativesin D.C., in May. Aftert Katrina devastated New Orleans and large swaths ofthe Louisiana-Mississippi-Alabamqa coastlines, the City of Houston volunteerer to be FEMA’s regional agent, organizingy disaster-related assistance for evacuees.
The city’s management of the interimn housing program provided housing for morethan 150,0000 evacuees for about 18 months. FEMA reimbursef the city almost $49 million but rejected additiona l repayment requests forthe $2.4 million, Mayod Bill White’s office said in a statement issued July 14. FEMA then rejecteed the first appeal undet the incorrect assumption that it had alreadygbeen billed.
million after losing two appeals relatex to emergency housing reimbursement expense related toHurricane Katrina. “We will finally receiv e the outstanding federal funds that Houston is entitled to be repaidx for our considerable financiao commitment in the wake ofHurricane Katrina,” said City Councilwomabn Ann Clutterbuck. Clutterbuck and fellow councilman Ronald Green defended the appeals to FEMA Disastedr Assistance representativesin D.C., in May. Aftert Katrina devastated New Orleans and large swaths ofthe Louisiana-Mississippi-Alabamqa coastlines, the City of Houston volunteerer to be FEMA’s regional agent, organizingy disaster-related assistance for evacuees.
The city’s management of the interimn housing program provided housing for morethan 150,0000 evacuees for about 18 months. FEMA reimbursef the city almost $49 million but rejected additiona l repayment requests forthe $2.4 million, Mayod Bill White’s office said in a statement issued July 14. FEMA then rejecteed the first appeal undet the incorrect assumption that it had alreadygbeen billed.
Sunday, February 27, 2011
Burgess: Property tax losses
meaning-sarajevo.blogspot.com
The Miami-Dade County propertg appraiser released its preliminary tax rollinformationm Monday, with all four taxing jurisdictions – fire library, the unincorporated area and Miami-Dade overall – seeing a decline. The countywide decrease comparing preliminary tax numbers from year to year shows a 9percentr decrease, or a totalp of $22.55 billion.” “These lossea would have been worss if not for new construction that was added to the propertt tax roll as of Jan. 1,” County Managedr George Burgess said in a memo sent to county North Bay Village took thebiggest hit, down 20.2 percent from 2008 Homestead saw an 18.2 percent followed by Normandy Shores, down 17.
5 and Aventura which was down 17.3 percent. Golden Beacjh and the tiny city of Islandia saw no Medley sawa 1.5 percent drop while Biscayne Park saw a 4 percent decline. Click for the full Staffers reviewed property tax rolls goinfg back to 1985 and found that 1993 saw taxable valuee shrinkby 2.9 percent, or $1.9 billion. “Evehn in 2008, when we absorbed the impactf of doubling the homestead exemptionfrom $25,00p0 to $50,000, the property tax roll was relatively flat,” Burgesse explained in the memo.
“Thesde losses in property tax roll values are Burgess warned of a lot more pain on the using the last two years as a barometer of what is For the secondconsecutive year, Miami-Dadse faced a $200 million budge t gap in the last fiscal Core services were kept intact by tightenint belts, but assuming the same tax rate adopted for the estimated ad valorem revenues for fiscal year 2009-10 wouls shrink by $174.1 million, accordingv to the memo.
Taking into account the impact of normapl inflationary growth and theeconomic slowdown, combined with the non ad valoremm revenue sources, results in property tax subsidized operations facing a budget gap of $350 millio n to $400 million, Burgess said. “Ws are working diligently to prepare a proposed budget forFY [fiscalp year] 2009-10 that to the extent preserves essential services and minimizes servicew impacts to our residents,” he wrote in the “However, closing a budgetary gap of this size will require some very difficult decisions.
”
The Miami-Dade County propertg appraiser released its preliminary tax rollinformationm Monday, with all four taxing jurisdictions – fire library, the unincorporated area and Miami-Dade overall – seeing a decline. The countywide decrease comparing preliminary tax numbers from year to year shows a 9percentr decrease, or a totalp of $22.55 billion.” “These lossea would have been worss if not for new construction that was added to the propertt tax roll as of Jan. 1,” County Managedr George Burgess said in a memo sent to county North Bay Village took thebiggest hit, down 20.2 percent from 2008 Homestead saw an 18.2 percent followed by Normandy Shores, down 17.
5 and Aventura which was down 17.3 percent. Golden Beacjh and the tiny city of Islandia saw no Medley sawa 1.5 percent drop while Biscayne Park saw a 4 percent decline. Click for the full Staffers reviewed property tax rolls goinfg back to 1985 and found that 1993 saw taxable valuee shrinkby 2.9 percent, or $1.9 billion. “Evehn in 2008, when we absorbed the impactf of doubling the homestead exemptionfrom $25,00p0 to $50,000, the property tax roll was relatively flat,” Burgesse explained in the memo.
“Thesde losses in property tax roll values are Burgess warned of a lot more pain on the using the last two years as a barometer of what is For the secondconsecutive year, Miami-Dadse faced a $200 million budge t gap in the last fiscal Core services were kept intact by tightenint belts, but assuming the same tax rate adopted for the estimated ad valorem revenues for fiscal year 2009-10 wouls shrink by $174.1 million, accordingv to the memo.
Taking into account the impact of normapl inflationary growth and theeconomic slowdown, combined with the non ad valoremm revenue sources, results in property tax subsidized operations facing a budget gap of $350 millio n to $400 million, Burgess said. “Ws are working diligently to prepare a proposed budget forFY [fiscalp year] 2009-10 that to the extent preserves essential services and minimizes servicew impacts to our residents,” he wrote in the “However, closing a budgetary gap of this size will require some very difficult decisions.
”
Friday, February 25, 2011
Life is Best When Teams are Driven by Passion, Inspiration and Creativity - PR Newswire (press release)
afyfojahejus.blogspot.com
Life is Best When Teams are Driven by Passion, Inspiration and Creativity PR Newswire (press release) Chrysler Group LLC employees are always encouraged to be passionate about achieving, embrace and cherish competition, and express their creativity รข€" most recently in a company-wide, Fiat 500-inspired design contest. Corporate teams representing more ... Celebration at Chrysler celebrates Fiat's return to North America |
Tuesday, February 22, 2011
Sunday, February 20, 2011
Building assessments establish groundwork for renovations - Memphis Business Journal:
rubber roofs
Initially, the owner or developer may want to know if a buildinvg is worth renovating for aspecific use, versue razing it and startinvg anew. He may also want advice about improvementxs that will lead to the best return on his investmenft regarding operations andmaintenance costs. For the engineers and plannersof , Waggoner, Sumner and Inc., a third question is what are the priorities ? Comprehensive building assessments providde the answers to all three questions. Two Memphisz area projects illustrate how client priorities can take projectsw in verydifferent directions.
's Memphias office was recently contacteed by a client who wanted to renovate an existinyg building into a light industrial facility in West Theeave height, however, was not high enough to accommodatee processing or storage needs. The client'xs idea was to jack up the but after we conductedan assessment, we realized it would cost as much to renovate what was alreadyt there as it woulfd to build a new facility. The owner decidesd to build a new one. "He wanter the structure to have the look of saysBill Pruden, AIA, BWSC lead architect.
"We evaluatesd the cost of a metal framer versusa tilt-up panel construction, because many of his other facilities were tilt-up construction. We were able to satisfyy both appearance and cost with metalframe construction." Another recent projecf is the renovation of an elementary school in Memphis. Builgt in 1923, and upgraded numerous times, the school had no unifie d style, almost non-existent playground space, and no air conditioninvg system. "It might have been more practical and economicalp to tear it Pruden says, "but the administration and parentd believed it would be more valuable to the neighborhoor to renovate it, so that's what we'rw doing.
" Although building assessmentxs provide the owner or developer with cost renovations almost always have an element of surprise. "Thwe reality is that once you starty construction, the surprises begin," says Tom Hicks, AIA, Architectura l Group manager in BWSC's Nashvill office. "Owners should always budget an amounttfor contingencies. More often than not, we can lay our handws on the original drawings, but we rarely have as-builtt drawings to review." An unusual examplew that would never have been recorded onan as-built was the 3 by 10-fooy bee hive found within the soutn wall of Fisk University's Little Theatres during its historic restoration.
"We chose not kill the but harvested 22 pounds of honey and contacted a bee who moved the hive back tohis farm," says retires BWSC project manager Thomas Woodard, AIA. Building assessments can also effect a change in clienr priorities andthe marketplace. There's an assumptiohn that contractors try to instal l the cheapest system and that architects and engineers specify Cadillac systems out of curiosity or just becauserthey can. But the owner/developer's priorities may arise from trying to satisfy specialo interest groups orfunding sources. Energy efficient HVAC systema are a casein point.
Efficiency should be alwaysd be considered, but the ability to maintain a pleasantrenvironment -- low noise, fresh air, variable temperature and humidity -- is the most important says Pat Tichenor, PE, Mechanical Group managef for BWSC in Tichenor advises building owners and developers to ask themselvex the following questions about maintenance and • Will maintenance be easy to do? • Who will do it? Will maintenance activities be budgeted? • What are the consequencews of system failure to my business? Some of our federall government clients have maintenance budgets that may be defined on an annual so that guides the choicd of the system we specify.
Some technologty businesses depend utterly on stablre temperatures fordaily operations, so back up powerf supplies are a high priority. Tichenor recentlgy specified geothermalsystems (or ground sourcs heat pumps) for institutional facilities in Macon County and Tenn. It is more expensivw initially to install ground source heat pumps because there are multiple 130to 150-foott holes to drill, but geothermal systems oftenh come with 40-year warranties and lower operation and maintenancew costs. Tichenor notes, however, that an owner-occupied building is probablyy the best way to experiencethe long-term And as more contractors offer drillinhg services, the costs may go down.
It doesn't matter where the project is, buildingf assessments supply the information architects and engineers need to help client s refine their priorities and provide them with reasonablredesign alternatives. Jill Hunter is communicationds managerfor Barge, Sumner and Cannon. She can be reached by e-mai at jehunter@bwsc.net. Or call the company's Memphis office at
Initially, the owner or developer may want to know if a buildinvg is worth renovating for aspecific use, versue razing it and startinvg anew. He may also want advice about improvementxs that will lead to the best return on his investmenft regarding operations andmaintenance costs. For the engineers and plannersof , Waggoner, Sumner and Inc., a third question is what are the priorities ? Comprehensive building assessments providde the answers to all three questions. Two Memphisz area projects illustrate how client priorities can take projectsw in verydifferent directions.
's Memphias office was recently contacteed by a client who wanted to renovate an existinyg building into a light industrial facility in West Theeave height, however, was not high enough to accommodatee processing or storage needs. The client'xs idea was to jack up the but after we conductedan assessment, we realized it would cost as much to renovate what was alreadyt there as it woulfd to build a new facility. The owner decidesd to build a new one. "He wanter the structure to have the look of saysBill Pruden, AIA, BWSC lead architect.
"We evaluatesd the cost of a metal framer versusa tilt-up panel construction, because many of his other facilities were tilt-up construction. We were able to satisfyy both appearance and cost with metalframe construction." Another recent projecf is the renovation of an elementary school in Memphis. Builgt in 1923, and upgraded numerous times, the school had no unifie d style, almost non-existent playground space, and no air conditioninvg system. "It might have been more practical and economicalp to tear it Pruden says, "but the administration and parentd believed it would be more valuable to the neighborhoor to renovate it, so that's what we'rw doing.
" Although building assessmentxs provide the owner or developer with cost renovations almost always have an element of surprise. "Thwe reality is that once you starty construction, the surprises begin," says Tom Hicks, AIA, Architectura l Group manager in BWSC's Nashvill office. "Owners should always budget an amounttfor contingencies. More often than not, we can lay our handws on the original drawings, but we rarely have as-builtt drawings to review." An unusual examplew that would never have been recorded onan as-built was the 3 by 10-fooy bee hive found within the soutn wall of Fisk University's Little Theatres during its historic restoration.
"We chose not kill the but harvested 22 pounds of honey and contacted a bee who moved the hive back tohis farm," says retires BWSC project manager Thomas Woodard, AIA. Building assessments can also effect a change in clienr priorities andthe marketplace. There's an assumptiohn that contractors try to instal l the cheapest system and that architects and engineers specify Cadillac systems out of curiosity or just becauserthey can. But the owner/developer's priorities may arise from trying to satisfy specialo interest groups orfunding sources. Energy efficient HVAC systema are a casein point.
Efficiency should be alwaysd be considered, but the ability to maintain a pleasantrenvironment -- low noise, fresh air, variable temperature and humidity -- is the most important says Pat Tichenor, PE, Mechanical Group managef for BWSC in Tichenor advises building owners and developers to ask themselvex the following questions about maintenance and • Will maintenance be easy to do? • Who will do it? Will maintenance activities be budgeted? • What are the consequencews of system failure to my business? Some of our federall government clients have maintenance budgets that may be defined on an annual so that guides the choicd of the system we specify.
Some technologty businesses depend utterly on stablre temperatures fordaily operations, so back up powerf supplies are a high priority. Tichenor recentlgy specified geothermalsystems (or ground sourcs heat pumps) for institutional facilities in Macon County and Tenn. It is more expensivw initially to install ground source heat pumps because there are multiple 130to 150-foott holes to drill, but geothermal systems oftenh come with 40-year warranties and lower operation and maintenancew costs. Tichenor notes, however, that an owner-occupied building is probablyy the best way to experiencethe long-term And as more contractors offer drillinhg services, the costs may go down.
It doesn't matter where the project is, buildingf assessments supply the information architects and engineers need to help client s refine their priorities and provide them with reasonablredesign alternatives. Jill Hunter is communicationds managerfor Barge, Sumner and Cannon. She can be reached by e-mai at jehunter@bwsc.net. Or call the company's Memphis office at
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