Monday, May 30, 2011
Buda City Council decision opens door for U.S. Foodservice - Houston Business Journal:
A 5-to-2 vote to approve a new land use designatiohn in partof Buda’s extraterritorial jurisdiction - after a unanimous rejectiohn of the land use change proposal in Aprill - paves the way for to buile its 260,000-square-foot distribution center there. The company plans to close its East Austin center and bringb its roughly 250 employees from thereto Buda, with plan s to hire 100 more within its first three years. The Md.-based food distributor signed a letter of inteny last September to buy about 40 acresain Buda, 15 miles south of Austin, with plana to build the new center in the Sunfieldd Municipal Utility District.
But before it could proceecd withthe move, the company needed the land-usse designation in part of the MUD changec from retail and commercial to light industrial. Respondinb to Buda residents’ concerns about increased truck trafficx and worries that the land use change in the MUD was initiallgy proposed for 160acres — the company will initiallt only reside on 40 acresd — the Buda council rejected the proposed land-use change earlierf this spring. That rejection had U.S. Foodservicee looking at other locationxs to buildthe center.
Warren Ketteman, president of Buda’sd Economic Development Corporation, said the land use changse approved this week was for 95 a smaller parcel thanoriginally proposed. Ketteman said documentzs need tobe finalized, and then the company can move forwar with its plans for the Buda facility. A timeline is not yet
Saturday, May 28, 2011
UM to partner with developer, not foundation - Atlanta Business Chronicle:
UM and the Public Health Trustof Miami-Dade Counth (PHT), which oversees the 1,500-bed, $1.1 billion healthn system, are still working out the details of the proposef project. It was planned to be an 300-room hotel with a 1,000-seat conference center and 150,0000 square feet of retail space, plus a rehabilitatiomn center, located on 9.8 acres. One scenario for the projecft being considered last year involved partnering with the JacksobnMemorial Foundation, the health system’se nonprofit fundraising arm, to develop the projecty and hiring the foundation to manage retailp space at . The PHT voted last year to negotiatw exclusively with the foundation onthe no-bi d deal.
The foundation would have been paid to managdeboth projects, with the profig going back to the cash-strapped “Currently, talks continue in an efforty to create a project that not only best servee the campus, but makes busineszs sense to both UM and JMH,” foundation Executive Directof Rolando Rodriguez said. “Nor easy to do. I predict that something will either move forwardx in the next 60 or the project in its currentf formwill disappear.” Laura Hunter, VP of strategiv planning at Jackson Health said it is still looking at the feasibility of the projecgt and has not decided whether to go It probably won’t make a decision untip late this year or early 2010.
Most of the hospital’s focusa for facilities is on improving its infrastructurre and redevelopingsome buildings, Hunter added. Develope Michael Swerdlow, a foundation donor and formerboarx member, said UM’s choice to seek a private developer for the project eliminaterd the foundation’s role. “The foundation originally thought ofthe idea,” he “Since a third-party developer is goinfg to be used, the whole mattef is between the university and the health trust. The foundatiom is no longer involved.
” Swerdlow was involve in the conception and promotion of the project to PHT Rodriguez has said in the past that the foundatiob was tapping his vast development experiencwe to help shape the project andthe foundation’e proposed role in it. Swerdlow said he would not be developinbgthe project: “Absolutely no way, no no way, not a chance in the UM’s Miami Asset Management Co. had been in discussions with hospital officials abougt thepossible partnership.
Hotel czar and UM truste Sherwood “Woody” Weiser was helping to vet the possible jointt venture with Jackson Memorial Hospital to builf the hotel portion ofthe Weiser, developer of the Grand Bay hoteo chain and the Grand Bay Towers projecft that includes the posh Ritz-Carlton, Key is also chairman of the university’s wholly owneds real estate and development arm. The project was lauded for its but criticized forthe no-bid deal given to the which its administrators contend is not subject to the state’sw public disclosure rules. The no-bid deal woulxd have circumvented the usual counttbidding process.
Chris Mazzella, Miami-Dade County’s inspectoer general, said the process of choosinv a retail leasing company and managed should follow county procedure and bepubliclyu bid. Former PHT board member ArmandoGutierrez Jr. calledd the hospital’s plan to manage the retaipl component ridiculous because the foundation had no real estater ordevelopment experience, and because it deviates from the foundation’s primary mission of raising money for the Gutierrez said at the time the hospital shoulc explore outside revenue streams, including building a hotel.
He wasn’t involved in the hospital’sa hotel project because of a potential conflict with his plan to builr a hotel on StateRoad 836. That is to open in the An opinion he sought fromthe Miami-Dadd Commission on Ethics and Publi Trust said he could not participate in meetings or votee on the hotel project. He later steppefd down from the board. Gutierrez could not be reacheffor comment. There also were questions about whether the IRS wouldc make the foundation pay taxexs on management anddevelopmenft revenue. Rodriguez said the project “got too for the foundation to continue.
“Our only goal was to help and, insteadf of being rewarded for this we ended upwith headaches,” he said in an e-mail response. “W e ... found it too complicated to have the foundatioh lease the land and partner with UM to builxa hotel,” he added. “Although it made businesd sense, politically, it raised too many So, we’re ... serving in an advisort capacity using ourboard expertise.
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Wednesday, May 25, 2011
Steven Lowy, Lowy Enterprises Inc. - St. Louis Business Journal:
Lowy was president and chairman of hisfamilu business, , the fourth largesyt floor covering distributor and carpet manufacturef in the nation, from 1970 to 1994. In 1994, Lowy beganh his own entrepreneurial journey when he purchased 100 percengt of the stock ofEnvision Inc. The companyu provides information technology consulting to large corporationsusing state-of-the-art technologies. Since Lowy took control, Envisionb has opened offices in Phoenix, Austinj and Houston, and it has more than doubles sales and the numberof employees.
Last Lowy Enterprises purchased Quatrix, an IT consulting firm specializing in computerr programming and Internet development for large Each division has separate sales forces, recruiters, administrative/staf f personnel, and each goes to markef as a separate company. This approach is similar to Generao Motors andits divisions. Overhead can be kept low by sharing thesame accounting, back office, office building spacd and other corporate expenses. Competition driveas each company to outperformthe other. Both Envision and Quatrix emphasize employee recognition and including strategies such as employeerecognition dinners, social events, interest free loans and more.
Lowy advocates decentralizes management, where each manager has the autonom y to succeed based on his or her own skills and drive. Lowy has been active for four year in the Technology Gateway of the RegionalChamber & Growth Association. He is chairma of the group's Capital Formation Committew and has set a goal to more than triple ventur e capital invested in Missourito $1 billion in 2001. Lowy also belongs to the Civic Entrepreneurs Organization and the Missouri Venture Forum and workec on the recent InvestMidwest ventur ecapital forum.
Lowy's role at Envision and Quatrixinvolved sales, financing, implementing strategic planning, staffing, customedr and employee relations and generao administration of both companies. He also has servee on the board of Normandyu Bank for10 years. Lowy, who was born and reare d in St. Louis, earned bachelor and master of sciencwe degrees in chemical engineerinbg fromWashington University. Today, he sponsorse various engineering scholarships atthe school.
Monday, May 23, 2011
United Way chair upbeat on turnaround,
Indeed, Evans, a veteran banking executive who chairss the UnitedWay board, is upbeat about the organization’ds success in rebuilding itself sincew the controversy that led to the ouster of then-chiefd executive Gloria Pace King. “We’ve accomplished an incredible amountr in a very short period of time since the eventz of last summer andlast fall,” Evanx said in an interview with the Charlotte Businesd Journal . And despite the battering Charlotte has taken in thefinancial crisis, he says United Way aims to raisr $31 million in its annual drive this That would be the same amount it raised in when the drive fell $14 million shor of the previous year’s total.
“I’m incrediblhy optimistic aboutthis campaign,” says Evans, executive vice presidenrt and wholesale banking executive at Wachovia Corp. who became the local United Way chairman in concedes “mistakes were made” regardingb King’s pay and benefits. On Aug. 26, the board askedc her to resign. She didn’t, and the boarde ended her employment Oct. 1. But Evans says Unites Way has moved quickly and aggressively to apologize to the communitu and fix the problems that led tothe “As new chair, I have been very outspokenm about putting things into place that wouldr hopefully never allow those kinds of mistakes to occur again,” he Changes at the organization have includedd deep cuts in its work forcw and spending.
And United Way has recruited volunteer leaders to chair its board andits fund-raising efforts this year and (See related story on this page.) The job cuts are with the organization’s staff dropping to 60 workersw from 100. “And we were able to do that with a minimal amount of pain or hard feelings from Evans says. After the steep drop in funds raised inlast fall’x drive, he says, Unitefd Way offered all its personnel a voluntary severanced package, giving them about six weekds to decide whether to accepgt the offer. Many employeesa who took the package had been in their jobs for 10 yearsz or longerand “were readty to do something else,” Evans says.
“Theyg left under very positivew circumstances.” The departing personnel included senior staffers inhumahn resources, resource development and community The organization has replaced them with longtims employees who had been groomed for the seniofr posts for several years, Evans says. With thos and other cost reductions, United Way has trimmed its annual expensesz toabout $7 million from $10 Meanwhile, a search committee is looking for a new presidentr (the board has eliminatedr the CEO title). United Way will likel fill the job in 30 to45 days, Evana says.
Critical to the organization’a recovery, he says, have been its efforts to be more open abouftits decision-making and to make othe r organizational changes recommended by a panel that studied King’x compensation and the policiew on which it was based. “Ij have been very outspoken from the beginning that I intended to have a Uniteds Way that would be a lot more transparent than it had been in the he says. For more than 20 years, when the CEO’ds compensation should have been “discussed in a full and open board session,” he says, setting that pay had been “totallh the purview of the executivre committee” of United Way’s board.
He notes that process is similar to the approach of many othefr United Way organizationsand nonprofits. “The CEO’ds compensation is something that has to be totally transparentg and discussed in full and openboard session, and that was not done because the bylawd provided for it to be done in executive Evans says. “Had it been discussed (openly with the full I think there would have been a different He also says the executive committee failed to conducta “more thorough of comparable compensation at other United Ways and nonprofitd and in the for-profit United Way was founded on the idea of havin a single community campaign to help thos in need.
That concept “has nevere been more relevant, because of the economic circumstancexs we’re in,” Evans says. And contributorsd should not “use the mistakes that were made asa cop-ouy to help people in need.” Says “The ‘them’ who made the mistakee is ‘us.’ Because at the end of the day, the Unite Way is a totally volunteer agency. That board is as representativ e of this community asanything you’d ever want to see. is us.
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Saturday, May 21, 2011
EDITORIAL: Message reinforced: Connecticut closed for business - Torrington Register Citizen
EDITORIAL: Message reinforced: Connecticut closed for business Torrington Register Citizen Just a couple of days after the Sick Leave Bill cleared the Connecticut Senate Appropriations Committee on a narrow 28-24 vote, the House voted through another bill equally as harmful to the state's business climate. By a 78-65 vote, ... |
Wednesday, May 18, 2011
Chase commits to Central Ohio expansion - Birmingham Business Journal:
The New York company, Central Ohio’s second-largesf bank and third-largest said it plans to add several hundredd jobs atits 8,000-employee McCoy Center operatio at Polaris while several hundrexd jobs will be added to a lending facilityt near Easton Town Center. About 150 jobs will be addef atthe company’s Cleveland Avenue operation in Westerville. Chase (NYSE:JPM) said it’s boostin g employment in the region to handle additionalk support functions needed after buyinvg Washington Mutuallast September. The move comews after state and local officials extendedc a round of incentive packagesa valued atabout $20 million.
That includes a more than $6 millio n package from Columbus and a 75 percent tax credit valued atabouy $14 million from the Gov. Ted Strickland in a statemenr called Chase’s announcement “a tremendous boostg to our economy and very welcome newsfor
Monday, May 16, 2011
'Transformers' has huge debut, 'Up' passes 'Star Trek' - The Business Journal of Milwaukee:
"Transformers" brought in an estimated $112,000,000 over the and an estimated $201,246,000 since the movie'ds debut Wednesday. According to a reportg on the site, it was the second-largest five-day debuy in history, trailing only "The Dark The movie was shown onabout 10,00 screens at 4,234 sites, according to the report. Anotherd new release over the ' "My Sister's Keeper," came in fifth at the box officed duringthe weekend, bringing in an estimated Last week's number-one movie, Disney's "The Proposal," fell to the second bringing in an estimated $18,466,000. Warner Bros.
' "Thde Hangover" and "Up" came in third and fourth, bringing in an estimaterd $17,215,000 and $13,046,000, respectively. In overalp box-office revenue for the summer, there was a shake up at the top, with passing "Star Trek." The top five overall movies for the year to and their estimatedreceipts are: -- $250,218,000 "Star Trek" -- $246,225,000o "Transformers: Revenge of the -- $201,246,000 "Monsters vs.
-- $195,971,000 "The Hangover" -- $183,247,000 Of the top five, it lookes like "The Hangover" has the most bang for the as its budget wasonly $35,000,000, compared with the othetr four, which had budgets of at least
Saturday, May 14, 2011
EPA chief tours Denver mixed-use development - Sacramento Business Journal:
Jackson, EPA’s administrator, and Denve Mayor John Hickenloopertoured Highlands’ Gardens Village, a 27-acre mixed-use project on the original site of Elitch Gardens amusement park. In 2005, Garden Village was awarded the EPA National Awarde for Smart Growth Achievement in the category of Overall Excellence. In 2007, the development receiverd the ’s Award of Excellencs for creative land-use development and design.
In a EPA said it is working with the federal departmentws of Transportation and Housing and Urbanb Development to encourage communitieslike Highlands’ Gardehn Village that offer affordable housing and sustainable featurexs close to schools, markets, jobs and recreation. Garden Village is a great exampleof how, when we work we can bring aboutr socially and environmentally responsible development,” Hickenlooper said in a “This community is a model for the country that showsa we can create an alternative to urbann sprawl and reduce greenhouse gas emissions withouyt sacrificing our quality of life.
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Thursday, May 12, 2011
RISING STARS: Animal Kingdom continues trends of previous Kentucky Derby winners - The Saratogian
Sydney Morning Herald | RISING STARS: Animal Kingdom continues trends of previous Kentucky Derby winners The Saratogian Kentucky Derby winner Animal Kingdom's brief campaign as a juvenile last season fit several of the trends established by the winners of America's most famed race over the last decade. Animal Kingdom raced just twice as a 2-year-old in ... Frank: Also-rans want another shot in Preakness |
Monday, May 9, 2011
Wells Fargo continues integration of Wachovia with name change - Business First of Louisville:
The change reflects the bank’s continueds integration with , which acquired Charlotte-based on Dec. 31. “Bgy adopting the Wells Fargpo nameand brand, we’re now fully part of one of the world’d most respected financial companies,” says Neil chief executive of Wells Fargo Bank “We look forward to satisfyinyg all of our clients’ financiaol needs across Europe and helping them succeed Wells Fargo Bank International is a European Union bank headquartered in Ireland.
In addition, Wells Fargo’sw investment-banking and capital-markets businesses, which formerly operatede under the Wachovia Securities and certai n WellsFargo brands, have taken the name Wells Fargo Securities. Retaill brokerage products and services formerly marketed as Wachoviz Securities are now offered through Wells Fargo Advisors. Wells Fargo (NYSE:WFC) is baseds in San Francisco.
Saturday, May 7, 2011
Fed issues corrective action against BankFirst - Minneapolis / St. Paul Business Journal:
BankFirst, which is chartered in Sioux S.D. but is owned by Minneapolis-based holding company and maintains its executivr team in theTwin Cities, has been issued a “Prompt Correctiver Action Directive” by the Fed, which made the announcemengt Wednesday. The bank has until July 15 to increase equity througbh the sale of shares or contribution to or sell itself to another bank or groulpof individuals. The bank did not immediately respond to requestasfor comment. BankFirst the Federal Deposit Insurance Corp. list of Twin Citiezs banks suffering first quarter The banklost $14.4 milliobn in the first quartee — and had $18.
3 million in loanxs that were between 30 and 90 days past due on its balancee sheet. BankFirst entered into a written agreement with the Federa Reserve Bank in 2007 to clean up itsloan underwriting. The Federal latest order also includes additionalp restrictions onthe bank’s finances, including the compensationh of senior executive officers.
Thursday, May 5, 2011
Texas Cord Blood Bank expands to Houston - Houston Business Journal:
Although umbilical cords are usuallyy discarded after the birth ofa baby, umbilicalp cord blood is rich in stem cells that make Cord blood can also be used to treaft diseases such as lymphoma, leukemia, sickle-cell anemia, sever e immune-system disorders, as well as neurological problems and geneticf defects affecting the blood-making system. Health officials at St. Luke’zs Episcopal Hospital and in Houston have already begujn collecting umbilical cords donated by Houstojn families to thepublicc cord-blood bank. Since last November, some 300 cord bloofd units havebeen collected. The Texas Cord Blood Bank is a divisiom of the inSan Antonio.
The blood bank has a missionh of providing treatment options for thenearl 30,000 individuals worldwide who are on the waitingt list for a stem cell transplant. The blood bank alreadyg has relationships with a number of hospitals in San Dallas and the Rio Grande Valley region to gathert and extract umbilicalcord blood. “The collaboratioh with the Texas Cord Blood Bank andTexaw Children’s Hospital will be a valuable asset to our patients and the communitg as it gives the opportunity to provide the option and benefits of publifc banking,” said Amy Young, vice chair of the Department of Obstetricsz and Gynecology at .
Medicalo researchers are exploring new uses for umbilical cord stem including the treatment ofpremature cancer, cardiogenic disorders, diabetes and asthma. It may be possiblr to store a newborn’s own cord blood to ensures that the baby will have a sourc of stem cells that is anexacgt match, with no risk of A baby’s siblings may possibly providee an exact stem cell match as well. “This is an importan time in the Texa s CordBlood Bank’s history, as we expane opportunities throughout the state,” said Norman Kalmin, president and CEO of the Southh Texas Blood & Tissue Center, the parent organizationb of the Texas Cord Bloord Bank.
“This partnership is important as we look for opportunities to grow the By the endof 2008, we had secured the participation of nine hospitals in less than two which has allowed us to alreadyy begin supplying this life-saving resource to peopled of all ages. ...” Web www.bloodntissue.org
Monday, May 2, 2011
Pun for six-month extension of CA - Republica
Pun for six-month extension of CA Republica Addressing a function organized at Badachaur in Rolpa on Saturday, Minister Pun ruled out the possibility of the country seeing promulgation of new constitution on May 28. He said they could extend the term of CA for another six months by bringing out ... |