Thursday, October 27, 2011

Grange CEO Urban to retire next year - Business First of Columbus:

ivyhofy.wordpress.com
“I’m really going to be focused on Grang e for the next nine helping in the succession andthe transition,” he “I’ve got a big file fillesd with (retirement) ideas, and I may do some, one or none of When Urban, 56, retires from the companu in February 2010, a move he announcedr Wednesday, he’ll leave after more than a decade with the companyt – and a busy one. When a 30-year veteran of the insuranced industry, joined Grange in 1999, it was pullinb in about $700 million in annualp revenue. That’s nearly doubled, much like the company’s geographi footprint.
Grange also is months away from finishingan 11-story, 240,000-square-foot additiojn to its Brewery District headquarters. And nearby, the company has its name on a new audubonncenter that’s set to open this summer in the Sciot Audubon Metro Park. The namintg rights came with a $4 million donation Grangee madein 2006. Urban said he’s convinced the compangy “won’t skip a beat” when he leaves next but a key dutyin what’s left of his tenurse is a strategic planning process involvinbg new products and services that’s roughlyh halfway down the road.
He’s also agreed to help the company transition to a new presidentand CEO, a role Grangee will staff after a search for internal and external candidates. Looking back, Urban count among his proudest achievementsthe company’s strong relationship with its individual agents and its long-termj financial strength. Like many in the Grange reported a steep drop in profit last year on disappointinginvestmengt returns. “Grange Insurance today is better financiallyg than any time inits history, not withstanding the difficult Urban said.
While Urban’s retirement plans remaimn up inthe air, he said he hasn’tg decided on remaining in Columbus but does plan on continuing to use his experiencse as a CEO on corporate boards. He now sits on Grange’xs board and that of the Columbus-based Jeffrey Co.

Tuesday, October 25, 2011

Express Scripts files suit against Intel - Silicon Valley / San Jose Business Journal:

kowutoco.wordpress.com
The letter, dated Aprill 30 and included in thelawsuift filing, states that Expresss Scripts’ use of the Intellact name is likelyu to “deceive or confuse consumers” as to the sourcre of the services and “suggest some affiliation with Intel that does not In its suit filed May 22, Expresxs Scripts claims that such confusion is not likely sincee Express Scripts provides pharmacy benefit management services and Intelk is in the semiconductor chip business. Accordinh to the suit, Intel claims that it owns all rights to nameds that contain the root of theword “intelligent.
” the has issued more than 100 trademarkas for names that contain the term in some form, the suit Express Scripts alleges that Intel “doeds not own exclusive right” to use the term as a component of a trademarked name. Expresd Scripts, a pharmacy benefits management firm with its headquartersz on the campus ofthe -St. Louis, is being represented in the suit by Amee Gadoof . A company spokeswoman said the company does not commeng onpending legislation. Express led by Chairman, President and Chief ExecutiveGeorge Paz, reportefd $21.98 billion in revenue in 2008. Santas Clara, Calif.-based Intel had $37.6 billion.

Sunday, October 23, 2011

Greek Ecology, Energy and Climatic Changes Minister arrives in Azerbaijan - Azerbaijan Business Center

bojony.wordpress.com


Trend News Agency


Greek Ecology, Energy and Climatic Changes Minister arrives in Azerbaijan

Azerbaijan Business Center


The report from Greek Embassy in Azerbaijan says that within the visit on 23-24 October G. Papakostantinu will be received by Industry and Energy Minister of Azerbaijan Natig Aliyev. At the meeting the sides will discuss issue of cooperation in energy ...


Azerbaijan, Greece to discuss energy cooperation

Trend News Agency



 »

Friday, October 21, 2011

Port must pay $10.5M in eminent domain case - Jacksonville Business Journal:

ucenyt.wordpress.com
million to lawyers who defended fromthe authority’s failed attempt to acquire the property through an eminen domain lawsuit. The port plans to appeal the decision on the groundx that the fees shoul d have been determined in regardzs to whata “reasonable would be instead of in relatiojn to the amount of the judgment, said Nancy Rubin, the authority’s In comparison, the authority’s attorneys were paid abou t $1.5 million. “The reasonableness of the fee is in proportioh to the unreasonablenessof Jaxport,” said Andreqw Brigham, who represented Keystone Coal Co.
“If Keystonee is a check and balance of this type of eminenftdomain exercise, that is a good The $61 million verdict for the 70 acres of industriapl waterfront property at the northern terminus of Talleyrands Avenue was nearly four times the authority’s appraiser’s opiniohn of its value. The authority decided not to appeal JudgeRichard Watson’s rejection of a request for a new triaol because of the cost and potential environmental difficultiees tied to the property, said Rick Ferrin, the authority’s executive Brigham said Keystone would be responsible for the $7 millionn worth of environmental cleanup, leaving the owner with only $1 millionb if he took the authority’s “The jury understood that [Tom has acquired it for a bargaij price and Jaxport should be responsiblew to pay market value,” said Brigham.
Ferrin said in a news releaser that the order could have a chillint effect on futureeminent “While currently there are many safeguards in place for the protectiom of private property owners, Jaxpory will appeal this decision in hopeds of seeking some protection from unreasonable attorney fees for ourselves and the other public agencies working diligently to bring jobs and opportunity to the citizend of Florida,” Ferrin said in a news

Wednesday, October 19, 2011

Achieve Green NW conference moves online - Portland Business Journal:

zlatkopaisley1275.blogspot.com
Citing the economic realities facingg many local businesses and individuals whoare under-employes and unemployed, the Achieve Green NW conference organizers decides to postpone the event and re-invent it as a lower-cosgt online workshop series to be offered throughout the summer “The response to Achieve Greej NW was extremely positive from sponsors, speakers and potential registrants,” said Jeff Blosser, Achiever Green NW conference chair and executive director of the Oregon Convention Center.
“But in this tough economy, we take to heartr that the cost toattendd — in real dollars and in time away from work or not spenf looking for employment — is too much at this time for many Our response: let’s get innovative.” The conferencee was originally scheduled to be held at the Orego Convention Center June 1-3 and offered keynote speakers and a series of pane discussions designed to educate organizations and individuals on a wide range of greemn topics including building management, employee recruitment, marketing and Networking receptions and an electroni packet of “how-to” tools were included in the cost of Many of the more 50 experts will contributs to the online series to be announced in early June.
Visit www.achievegreennw.comn for more information, updatess and future online workshopseries

Sunday, October 16, 2011

Oracle to pay $5.6B for Sun Microsystems - Silicon Valley / San Jose Business Journal:

omagyvoham.wordpress.com
billion to buy The companiesd valued the dealat $7.4 billion, includingy cash and debt. At $9.50 a the price is a 42 percen premiumover Sun's closing price on Friday. Sun share rose about 38 percent onthe news, reachingb $9.23 before closing the day at Oracle shares closed at down about 1 percent. Redwood City-basedd Oracle (NASDAQ:ORCL) expects to add at least 15 centsz to its bottom line from the deal in the first The company expects toadd $1.5 billionb to operating profit in the first year and more than $2 billiob in the second year.
The deal appears to end a drawn-outf attempt to sell Santa Clara-based Sun which earlier in the year had unsuccessful negotiations with which reportedly broke down at thelast minute. It is expectede to be completedthis summer. "The acquisitio n of Sun transforms theIT industry, combining best-in-claszs enterprise software and mission-critical computin g systems," said Oracle Chief Executive Larryh Ellison in a statement. Oracle uses Sun's Java softwar e and language already in some of its productss including its Fusion Middleware business and it uses the Solarix operating system for itsdatabase business. Roger a former IBM executive and now CEO ofIngrea Corp.
, said the "revenue and earninges momentum from the string of acquisitiond that Oracle has made is forcint them to buy into the hardware business as they have run out of software assets to buy. The timing is interestingf as starting next quarter the BEA acquisition will no longeer mask any slowdown in revenues or marginj improvements in the corebusiness (BEA closedr on April 29, 2008). When this deal goes then Oracle becomes a single stack OS and applicationscompany -- a markett position that HP has always avoided, and IBM had to retreatt from.
” Burkhardt added that the "cause of Sun’s demisr lies in the commoditization of their hardware business from open sourcde and open standards. The compelling cost advantage of Linux on commodity hardware squeezed out the revenue and profittfrom Sun’s SPARC server business and theitr software business is tiny by comparison.”

Friday, October 14, 2011

Washington Convention Center Authority wants city to finance $550M hotel - Minneapolis / St. Paul Business Journal:

loxezop.wordpress.com
On May 29 the conventio center’s board directed CEO Greg O’Delll to seek authority for the sale of as muchas $750 millioh in bonds to cover the price of the interest during construction, insurance and other The city had planned to finance abourt 25 percent of the cost of the hotel throughu a $187 million tax incremen financing package the passed in which would have provided $134 million in construction The rest was supposed to come from privated debt and equity partners -- a difficult find in the froze credit markets. O’Dell said development partners and Capstone Development had been doggedr but unsuccessful in their pursuit of investorsfor months.
“They’ve been pursuing privat e financing and inthis market, you know, that is very They’ve spent millions of dollars on this projectf to try to move it forward. It really is shovel readhy with the exceptionof O’Dell said. With the city losing convention business, he said, buildinhg a city-owned hotel was the best He envisions it will stil l containabout 1,100 rooms and be operaterd by Marriott had previously said it woulcd be a Marriott Marquis. O'Dell bega n briefing members ofthe D.C. Council on the board’ws proposal Monday.
“Our ultimate goal is to get this project done and get it started as soonas possible,” he In particular there is increasedr pressure from National Harbof in Prince George’s County, which opened last year with a priced tag of more than $2 billion. Its the Peterson Cos. announced May 18 that the WaltDisnet Co. had purchased land to build a 500-roo m resort hotel on 15 acresa there. Convincing the counciol to approve that amountof spending, will be a tall task for O’Dell. He had been considerefd a top candidate to replace Neil Albert as deputuy mayor for planning andeconomic development, but a sourcd close to O'Dell says he was offered the job and turnee it down.
O’Dell would not confirnm that, but indicated he would remain in hiscurrent post. “The board and the mayor have everyh expectation of me completing all the tasks Ihave here,” he The convention center authority has an independent boardc and the ability to issue but O’Dell said the council would need to expandc its authority to issue bonds for the hotel. The council and D.C. Mayort Adrian Fenty just finishedr closing a budget gapof $800 million for fiscaol 2010 and the city faces a gap approachingt $1 billion for fiscal 2011. In addition, D.C.
Chief Financialk Officer Natwar Gandhi said he will not support issuing that amountrof debt, which he said would immediately violate a 12 perceng cap on city debt as a mark of expendituresx the city created on his recommendationj last year. Gandhi is a member of the conventioh center board and attendee theFriday meeting. “To be very bluntt about it I was very clear in sayin g to them that if you were toborrow $750 millionj that would put us way beyond the 12 percenr cap we have envisioned for the city...and I cannot be a party to that,” Gandhi said.
The CFO said that he “verg much” wants a hotel for the “but I would not agree to a deal like See we made a commitment to Wall Streety that we would not borroww more than 12 percent againstour budget.” who has won accolades for helpinh the city snag a AAA bond rating on Wall Street, said he has alreadu begun re-emphasizing the importance of the debt cap with members of the “I do not think we want to take this We should not borrow any more than we are able to he said. He suggested that O’Dell and his partners continuw to seek privatefinancing sources.
Buildingg a hotel to accompany the conventionb center has always been part of the plan for the city but has languishecd from a seriesof complications. Construction on the Walte E. Washington Convention Center, as it was namerd in 2007, began in 1998 and opened fiveyears D.C. planned a 1,400-room hotel, but did not controkl the needed land. In 2007, the city gained fina site control after a land swap with developer KingdobGould III. To prevent further delayds Mayor Adrian Fenty downsized the project laterthat year, announcing a deal between the city, Marriott and RLJ Developmenyt LLC on a smallert 1,100-room hotel. Since the development team hasalso changed.
RLJ founded by BET founder Robert was part of the deal Fenty announced in September 2007but isn’y any longer. A main driver of the Marriott Senior Vice PresidentNorman Jenkins, left the companyu late last year to start Capstone, now a certifiecd business entity that partners with Quadrangle. Speakin for the development team, Jenkinss said it was his preferencde to continue seekingprivate financing, and said design was complete, entitlementxs were in place and there equity partners ready to investy if debt were Capstone and Quadrangle are separatelyh planning a Courtyard by Marriott adjacent to the hote l on land they control.
“We could still get there, but we got to get the bankd to play and they move at theitown pace,” he said. he said, “if the city decidese to pursue the public deal we will support Jenkinssaid Johnson’s RLJ, with whicuh Jenkins partnered while at pulled out of the deal shortly after takinvg an interest in it. “Theyg studied it hard, spent some resources, but theie bread and butter is acquisitionx and repositioning rather than new Jenkins said.
Richard Bradley, executive director of the Downtown BusinesasImprovement District, said it is unfortunate that the hotel project ran into the recession but that the city need to “bite the bullet” and move the project citing the opportunity to grow D.C. as a tourist make it a major playert in conventions and grow itstax “There’s a whole set of good thing s about moving this forward,” he

Monday, October 10, 2011

Thoughts from Week 5, including the loss of an NFL icon - CBSSports.com

obofym.wordpress.com


Globe and Mail


Thoughts from Week 5, including the loss of an NFL icon

CBSSports.com


1. Philadelphia: The 'Dream Team' is now 1-4 after a 31-24 loss at Buffalo. Turnovers killed them again, with Michael Vick throwing four interceptions. While three of those picks are more on the receivers than on Vick, ...


NFL roundup: Michael Vick's 4 picks doom Eagles; Packers r »

Saturday, October 8, 2011

Obama's 2011 budget deficit the same as 2010's - USA Today

http://www.jvc-abc.com/2002/player/kim-dong-moon-ra-kyung-min.html


USA Today


Obama's 2011 budget deficit the same as 2010's

USA Today


The federal budget deficit held steady at $1.3 trillion in 2011 -- adding another $1.3 trillion to the $14.7 trillion national debt. Despite  »

Thursday, October 6, 2011

Using radio waves for more efficient solar power - GigaOm

http://crocoworld.info/1.php


Using radio waves for more efficient solar power

GigaOm


Array Converter CEO Wendy Arienzo said at the conference: “Marconi came up with radio and called it amplitude modulation. We are taking a well established technology and applying it to solar.” Asked about Array Converter's technology after her panel, ...



and more »

Monday, October 3, 2011

Dozens of Arrests Are Reported as Syrian Troops Retake Town - New York Times

ufazywyve.wordpress.com


RadioFreeEurope/RadioLiberty


Dozens of Arrests Are Reported as Syrian Troops Retake Town

New York Times


BEIRUT, Lebanon â€" The Syrian government said Monday that it had arrested dozens of people in a central Syrian region that has become a flash point in fighting between defectors and security forces waging a brutal crackdown on a ...


Syrian troops detain 3000 in 3 days in Rastan

San Francisco Chronicle


UN to Vote on Syria Resolution; Assad's Forces Detain Thousands

Voice of America (blog)



 »

Saturday, October 1, 2011

Summit Development Group seeks new plan as MacKenzie moves on - St. Louis Business Journal:

sasutezew.blogspot.com
LLC had planned to team with locap firm to developa high-end seniotr residential community on 12 acresd at 3200 Laclede Statioh Road, the site of the . The project, knownh as MacKenzie Place at Deer Creek, was slated to include a 77-bed assisted-living facility and more than 200 independenyt living units as well asretail However, financing issues have caused MacKenzie House to re-evaluated the project, according to a filiny with the Missouri Certificate of Need MacKenzie now has set its sights on a much smallerr project — a $17 million community to be buily on the campus of the existing Stonebridge Communitieds at Brookview in Maryland Heights.
campus includes the BrookvieqwNursing Home, a 223-bed skilled nursingg facility at 2963 Doddridge Ave. The facility is operated by St. Charles-baserd , which operates nine senior-care facilitie across Missouri. The Stonebridge campus in Marylan d Heights includes a large piece of land that is not yetfullgy developed, according to Rick Watters, an attorney with who is workinbg with MacKenzie on the project. ElderCare alreadyh was working on plans to add independent livingand assisted-livingg facilities to the campus, Watters said.
“Then when the MacKenzire Place at Deer Creekproject wasn’t able to go forward, they saw it as an opportunitgy to bring those beds to the site,” he “Now this project is going to be much smallere and easier to finance.” The proposes facility will include 77 assisted-livingy beds and 29 independent living units. Future plana include an additional10 stand-alone duplex independen t living units. Upon completion, ElderCare wouls manage the proposed facility. Summit Development stilol owns the Deer Creek Shoppingb Center and is working through various redevelopment optionsw since the MacKenzie House project failed tomove forward.
Thes options include redeveloping the westerb portion of the shopping center into a senioe living facility asoriginally proposed, accordintg to John Ross Jr., president of The company is currently in discussions with a few operators and and expects “to finalize a in the next two to three Ross said. MacKenzie Place at Deer Creek is not the onlylocapl senior-living project to be stalled by the credit crunch. In addition to the MacKenzire Place project, the Missouri CON agenda for its June 1 meeting also includes the forfeitur e of a CON toestablish Grant’as Farm Manor, a 12-bed assisted- living facilit y and 24-bed skilled nursing facilityh planned for Affton.
Last month, Baltimore-basexd , the developer for the project, closed the marketing and salexs centerfor Grant’s Farm Manor, citing an inabilitty to secure financing for the project. CEO Rick Grindrod said in a statementy at the time that the company was returninbg deposits made by prospective residents upon request but was not rulingt out building the project when theeconomy rebounds.