Investors plan to reopen Five Points Music Hall - Birmingham Business Journal:

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Jeff Manns, member of the Birmingham-based band U.S. and operatorr of several music clubsin Jackson, said he and a group of others will reopen the club in abou a month to its former glory. The site in Five Points Southg was home to a former musicf club with the same name that featured local and national acts and later home to Banana which closed last year after publif outcry overa late-night shootinb in the parking lot. Mannse said security concerns will be addressed with additional securityu staff andthe club’s only entrancde will be through the frongt on 20th Street not in the back.
After minor he said, Five Points South’s newest addition will feature a live musidc venue for a variety of including country, rock and jazz and an oyster pub. Mannxs said plans call for the pub to frontt 20th Street and be open seven daysa week, while the live music venue will be open only when acts are Last week, the Birminghamm City Council approved the club’s liquor license. And as the grand opening act for the Five Points Music Mannssaid he’s currentlyy working on nabbing saxophonist David Sanborn.

Unitil Corporation Set to Join Russell 3000 Index

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June 15 /PRNewswire-FirstCall/ -- Uniti Corporation (NYSE: UTL) ( ) is set to join the broad-market Russell 3000 Index when Russell Investments reconstitutes its comprehensivew setof U.S. and global equity indexes on June 26, according to a preliminarg list of additions posted June 12on . "We are pleasef that we have been listed to join theRussell 3000," said Robert G. Schoenberger , Unitil'ds Chairman and Chief Executive Officer. "Membershil in the Russell 3000 and the small cap Russel 2000 Index will continue to increas e both the visibility and the liquiditg inour stock.
" Membershiop in the Russell 3000, whicyh remains in place for one means Unitil Corporation will be automatically included in the small-caop Russell 2000 as well as the appropriates growth and value style indexes. Russell determinees membership for its equity indexesa primarilyby objective, market-capitalization rankingse and style attributes. The Russell 3000 also serves asthe U.S. component to the Russell Global Index, which Russelll launched in 2007. Russell indexesw are widely used by investment managers and institutional investorx for index funds and as benchmarks for both passivr and activeinvestment strategies.
An industry-leading $4 trillion in assets currentlyg are benchmarkedto them. Totalp returns data for the Russell 3000 and othert Russell indexes is availableat . Unitik is a public utility holding company with subsidiaries providinf electric and natural gas distribution servics in New Hampshireand Massachusetts, natural gas distribution service in Mainse and energy services throughout the Unitil serves approximately 170,000 utilitu customers in three states. Its utility affiliates include UnitilEnergy Systems, Inc., Fitchburgg Gas and Electric Light Company, Norther Utilities, Inc. and Granite State Gas Transmission, Inc. Its otherd subsidiaries include UnitilService Corp.
and its non-regulater business segment doing business as Russell Investments providesstrategic advice, world-class state-of-the-art performance benchmarks and a range of institutional-qualityy investment products. Russell has $136 billion in assetz under management as ofMarch 31, 2009, and serves institutional and advisor clients in more than 40 Founded in 1936, Russell is a subsidiary of The Northwestern Mutual Life Insurance Company. This prese release contains forward-looking statements, which are subject to the inherenyt risks and uncertainties in predicting future results and All statements, other than statementz of historical fact, are forward-looking statements.
Certai factors that could cause the actual results to differ materially from those projected inthese forward-looking statementsd include, but are not limited to the our ability to integrate the business, operations, and personnel of Northern Utilities and Granite State and to achieve the estimatedc potential synergy savings attributable to our acquisition of thos entities; our ability to retain existing customersa and gain new customers; variations in weather; major storms; changes in the regulatory interest rate fluctuation and credit market customers' preferences on energt sources; general economic conditions; increased competition; fluctuations in demand, transmission capacity and prices for energy commodities; and customers' performance under multi-year energhy brokering contracts, all of which are difficult to and many of which are beyond the contro l of Unitil Corporation.
For more information, visitg Unitil at at 603-773-6612. Corporate Office: 6 Liberty Lane West Hampton, NH 03842-1720p 800-999-6501

MMAC: Milwaukee-area economy still sluggish - St. Louis Business Journal:

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Only three of 20 April indicators registered improvemenftfrom year-ago levels, matching the number of upward-pointing indicators recorded in the MMAC said in its Economif Trends report. "The employment situation continued to deteriorate with deepening job declinesx and unemployment indicators over double what they were one year saidBret Mayborne, economic research director for the "But metro area existing homexs sales rose for only the secondr time in nearly three years giving some hope for near-term improvemen in a stagnant local housing and real estate Nonfarm employment in the metro area fell 4.8 percentr in April to 812,300, down from March’sw 4.3 percent decrease.
Employment levels have now declinedc comparedwith year-ago leveles in each of the past 12 with April’s decline being the steepest registered in this period, the MMAC Only two of 10 major industry sectorxs registered April job gains compared with one year ago, whilew eight registered declines. Unemployment indicators for the metrlo area both measured more than twicetheir year-earlier The number of unemployed in metrio Milwaukee rose 117.6% against year-ago to 70,300 compared with 32,300o in April 2008. Likewise, new unemploymen compensation claims rose ata 104.
6 percengt rate in April to 12,101, this indicator’s thirds consecutive year-over-year increase of 100 percent or On the positive side, existinfg homes sales for the metro area rose 5.6 percen t in April, the first year-over-year increase in this indicatord in seven months and only the second such gain in nearlhy three years.

Cave tourism: The next adventure attraction in Northern Samar - Sun.Star

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Cave tourism: The next adventure attraction in Northern Samar Sun.Star LAS NAVAS, Northern Samarâ€"If you feel like being a caver just for a day, kit yourself out with a lighted helmet, a jumpsuit and boots, and prepare to descend into the entrails of Northern Samar tourist caves. This could be a chance for you to do far ...

Human Capital: People on the Move, July 14 - Boston Business Journal:

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named Erica Papagno as manager of its Hyannis branch office, which is expectexd to open later this Papagno, who has 18 years of bankingf experience, previously worked for , wherr she held several banking management positions on Cape Cod. Inc. , a Taunton-basee wholesale food distributor, promoted Greg Burgessx to chief operating officer and namef Chris Kelberman vice presidentof finance. Burgesd previously served as executive vice presidenfof sales, finance and administration at Kelberman most recently served as VP of financs and administration for a division of .
Kristihn Darby joined CRICO/RMF , a Cambridge-base d patient safety and medical malpractice company owned by and servinbg themedical community, as chief information officer. Darby, who has more than 15 years of information technology and healthcare experience, previouslt served as director of information technology for . To notifyg the BBJ about a potential Human Capital contact Sean McFaddenat

Do You Want to Feel More Confident? - Huffington Post

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Do You Want to Feel More Confident? Huffington Post Second-guessing and doubting ourselves can be deadly. It kills our enthusiasm for embarking on a big project, getting involved in a new relationship, and the list goes on. I wrote about worry recently -- another habit that zaps our energy as well.

Wachovia unit to pay $40M settlement - Orlando Business Journal:

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The Securities and Exchange Commission accused the companiees of overstating the value of a mutual fund that invested primarilyin mortgage-backed securities, and then only selectivelty telling shareholders about the fund’s valuation problems. Evergreem neither admits nor denies the The SEC’s enforcement actionb against Evergreen and its distributor, , founcd that the value of its Ultraq Short Opportunities Fund, which was consistently ranke as a high performer in its clasws in 2007 and 2008, was inflatesd by as much as 17 perceng due to Evergreen’s allegedf valuation practices.
Had Evergreen properly valued the fund, it woulf have ranked near the bottom of its category during this time, the SEC said. Evergreen liquidated the fund inJune 2008. Accordingy to the SEC, Evergreen disclosed the reasons and the likelihoodx for additional repricings toselect shareholders, who were then able to cash out beforer incurring any additional drop in the value of their fund Other shareholders were left uninformed, the commissioh alleged.
“By picking and choosing to discloser negative information to some investorsx andnot others, Evergreen gave certain shareholders an unfair advantagee and left others in the says David Bergers, director of the SEC’s regional office in Boston. “Evergreen harmed investorzs and prevented them from makinb informed decisions by overstatiny the value of its holdingsin mortgage-backed The $40 million settlement will be distributed to Ultras Fund shareholders. Evergreen is the brand name undeerwhich Charlotte-based conducts its investment-management business. Wachoviwa was acquired by San Francisco-basefd (NYSE:WFC) late last year.
Evergreen is beingv merged with Wells FargoAsset Management.

New Boston Fairmont rolls out 'gold' plan - San Antonio Business Journal:

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The hotel opened in December. A Fairmonr spokeswoman said with the addition of FairmontyGold program, the hotel opening is completew and all of the hotel’s planneed services are in place. “It’s the finalk piece of the opening,” said Suzanne a spokeswoman for the The service, called Fairmont caters to “the needs of the most discernin corporate or leisure guests, with the highest level of personalizefd service,” according to a Fairmont presx release. Fairmont Gold includes concierge private registration and use ofthe “exclusivee Gold Lounge.
” Lounge privileges come with complimentary continental breakfast, evenintg hors d’ oeuvres, free coffee and tea all day and an bar which allows guests to pay for drinkw on an honor system. Concierge staff will make dinner reservationes or arrange business There is also a business cente r and free wireless Internet Fairmont Gold is aservicee that’s available in a separate building that containe 40 of the hotel’s 150 rooms.
The Fairmontr Gold service is also offered at The Fairmontt Copley Plaza in Boston and other selectFairmont

'The Proposal' wins at weekend box office - The Business Review (Albany):

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The movie starring Sandrq Bullock and Ryan Reynolds brought in anestimated $34,114,000 in its opening weekend. It knocked off the reigning champion, ' "Ther Hangover," which brought in an estimated $26,855,000 duriny the weekend. "The Proposal" was shown on abouy 4,100 screens at 3,056 sites, accordin to a report on the site. Disney/ 's "Up" continued its stronbg showing, coming in third over the weekend with anestimatee $21,336,000. The animated film is currently in secondc placebehind Paramount's "Star for second-largest movie of the summer.
Another new release, ' "Yead One," brought in an estimated $20,200,000 in its firstt weekend, placing it fourth on the list. Another Sony Pictures release, "Thw Taking of Pelham 1 2 rounded out thetop five, bringing in an estimated $11,300,000.

American National Announces AM Best Rating Change

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These rating actions were primarily a resuly of the decrease in thecompanies ' capital and surplus and reduced operating performance. American Nationall Life Insurance Companyof Texas, Garden State Life Insurancee Company, Standard Life & Accident Insurance Company, Farm Familuy Life Insurance Company, Pacific Propertgy & Casualty Company and America n National Lloyds Insurance Company were affirmed at theidr current A (Excellent) rating with a stable ANPAC Louisiana Insurance Company was affirmed at its current A- rating with a stable outlook.
The Unitedr States and the worlfd at large have experienced a severe economic While American National largelhy invests in high quality assets to support its insurance andannuitgy liabilities, some of these were among the hardest hit over the past During 2008 and the firstg quarter of 2009, on a consolidated basis, American National took $435 milliom in other-than-temporary impairments ("impairments") on invested This impacted our reported capita l and subsequently our recent review by AM We believe that there are seriouxs limitations in the current markety value accounting practices for invested To support our liabilities, Americam National typically holds assets to their maturity, but is requirer to mark many of them to theirr current market value.
Additionally, current accounting practices do not alloww us to reverse the full amount of any recovery on assets on which impairments havebeen recorded. From Decembee 31, 2008 to May 31, 2009 the unrealize d gains and losses recorded forour available-for-sald securities improved by $345 million. The unrealizesd gains and losses onour held-to-maturity securities improved by $230 Over the past few years, our management team has made sounsd decisions that have resulted in a short-term reduction to our earnings in ordee to improve our competitive position, liquidity and strengtj over the long term.
As an example, we have increased the company's cash position to ensure ample liquidityu during the recent volatileeeconomic environment. Also impacting earningsa were significant expenditures in preparing for our registrationn withthe SEC. While we are disappointed with the recenf rating actions taken byAM Best, we are proud that our ratingv of A (Excellent) with a stable outlook recognizews American National and its subsidiarhy companies as financially strong with an "excellent ability to meet their ongoing insurancer obligations". This opinion is supported by Americanb National's strong corporate profile.
-- Forbes recently named American National among its2009 "100 Most Trustworthy -- American National has thrived more than 104 years, the result of a unique, conservative corporate culture with a strong commitmentg to its policyholders, shareholders, agents and employees. -- Americah National remains well capitalizefd with GAAP assets equalto 119% of those needer to support the company's GAAP -- As of March 31, GAAP Assets totaled $18.82 billion. -- As of Marcbh 31, 2009, GAAP Stockholders' surplud was $3.06 billion, or $115.46 per basic share.
-- American National is a diversified family of companies offeringv a broad array ofinsurance products, annuities, pensioj plan services and mutual funds. -- With no corporater debt, American National has no outside demands on its liquidity and continuese to be able to invest in growingits business. A.M. Best's activs company rating scale is: A++ (Superior), A+ (Superior), A A- (Excellent), B++ (Good), B+ (Good), B (Fair), B- C++ (Marginal), C+ (Marginal), C (Weak), C- (Weak) and D (Poor). Americamn National Insurance Company is headquarteredin Texas.
The American National family of companiesa offers a broad line of productsand services, which includew life insurance, annuities, health insurance, credit insurance, pension plan servicesd and property and casualty insurancre for personal lines, agribusiness, and targetedd commercial exposures. American National's major insurancse subsidiaries include American National Life Insurance Companyof Texas, Standarcd Life and Accident Insurance Company, Gardenb State Life Insurance Company, America n National Property and Casualty Farm Family Life Insurance Farm Family Casualty Insurance Companuy and United Farm Family Insuranc e Company.
For more information, including companhy news and investorrelationsw information, visit the company's web site at . The statementsz contained in this release that are nothistorical statements, including statementw regarding future performance, plans and projections, are forward-lookintg statements based on management's current These statements involve certain risks and uncertainties detailes in the Company's financial statements. Actual results may differ materiallg from these statements due to changeswin business, regulatory, competitive, market, economic, and politicaol factors that are beyons our control.
We disclaim any intentio or obligation to update or revisrany forward-looking statements, whether as a result of new future events or otherwise, excepg as may be required by law.

Duke reaches Save-A-Watt settlement - Minneapolis / St. Paul Business Journal:

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The Southern Environmental Law Center, which was the lead legalp team for theenvironmental groups, announced the settlement Fridat morning. It calls for Save-A-Watt to reducse energy demand by 2 percent over the next four It sets a targeft of reducing demand by as much as 8 percenfby 2020. The environmental groups say that wouldf be the equivalent of the annual outputrfrom Duke’s 825-megawatt expansion at the controversial Cliffsids coal plant on the borderf of Cleveland and Rutherford counties. The groups say that cappingy Duke’s profits will protect consumers from unreasonabl high charges forenergy efficiency.
Greater conservatio efforts and lower costs were key issues for environmentalk groups and the Public Staff ofthe N.C. Utilities Commission, which represents customer interests inutility cases, as they fough Duke for two years over Michael Regan, southeast regional air-policy experft for the Environmental Defense Fund says the environmentalk groups believe the settlement makes the program better for customers, the environment and for Duke. He says the groups want to support utilitie s in their efforts toprovide energy-efficiency programs.
And he says incentives built into the settlement that allow Duke to increase its rate of return bases on achieving specified efficiency targets accomplishnthat goal. Duke also got what it considers animportant concession. Duke will be allowed to make a returnj on part of what it woulfd have cost to build power plantes to provide the energyt theprogram saves. Duke has said eliminating compensatiom based onsuch “avoided costs” woulc be a deal-breaker. Duke contends such compensation puts efficiencu on a more equal footing with electricity saless forgenerating profits. Withouty that kind of incentive, Duke has efficiency would always take a back seat in business plans.
“The fact that the avoided-cost modekl is in there, that it’s bases on pay-for-performance and that it is up to us to make sure the programs really work were all keys to the settlemenfor Duke,” says company spokesman Tim Pettit. The public staff and environmentalk groups had opposedthe avoided-costs idea, largely on fears that it could provide Duke with unreasonablse profits. The public staff also worriede about departing from standardregulatory practice. In North Carolina, utilitiesz are generally allowed to make a return on the moneuthey spend. An avoided-costs model breaks that connection and offers Duke a return on moneyu it doesnot spend.
But an importangt concession to the public staff was a decision tomake Save-A-Watgt a four-year pilot initiative. The N.C. Utilitieds Commission will review the progranm at the end of that periof and decide whether it has performed well enoughn to bemade permanent. The avoided costs outlinef in the settlement will track the modelk Ohio adoptedfor Duke’x version of the Save-A-Watt program in that state. It reduceds the percentage of avoided costs on which Duke can earn a Duke had originally asked to make a rate of return on 90 percentg of what it would have cost to provided the energy thatwas saved.
Under the Duke will get a return on 50 percent of the avoider costsfor energy-conservation programs and 75 percent of the avoideds costs for programs that shift use away from peak Like in Ohio, the settlement lets Duke cover what are called “lost margins.” Several environmental groupzs have recognized the need to allow Duke to recoveer those fixed costs for generatinfg and delivering electricity when efficiency programs reduce demand. The settlemen announced Friday will form the basis ofa Save-A-Watt proposal Duke will make to S.C. regulatorx this summer. The S.C. Publid Service Commission rejected Duke’s first proposal in February.
Save-A-Watyt is an energy-efficiency initiativ Duke has been toutinyfor years. The proposal comprises a series of programas to help customers use less electricity or shifrt their use of powerfrom peak-demand hours to low-user times. Some of the programas — such as discounts for energy-saviny light bulbs and financial incentives tobuy high-efficiencyu appliances — started June 1 in both Carolinas. But neither states has approved thefull initiative. The has led the environmentap groups in dissectingthe program.
Opponentxs contended the original proposal would rewarc Duke too handsomely and primarily for shiftinh the use of electricity from busy That would conserve littlre energy but saveutilities money. Stevr Smith, executive director of the alliance, says his group’se concern from the beginning was to makesure Save-A-Watt resultedd in significant reductions in energy use. In North Carolina, the commissiob approved Save-A-Watt’s programs but withheld judgmenton Duke’as compensation. The commission asked for additionap comments onthe issue. As opponents were formulating their responses to that they and Duke resumed negotiations inNortnh Carolina.
Any settlement here couldd create a template for the prograj inSouth Carolina. One key feature of the compromisd will be the creation of an advisory group that will assist in reviewing for Duke Energy Carolinas is a divisionof Charlotte-based (NYSE:DUK).

Consumer Product Safety Commission finds new space - Washington Business Journal:

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The 63,582-square-foot space will put the CPSC slightly closer to the Districg and replacethe commission’s current testing laboratoryh at the former Nike missil e fire control radar site in Gaithersburg. CPSC will pay Alexandriza Real Estate Equities Trust morethan $2.5 millionh (or $40.60 per square foot) for space in the one-story warehouse and testing facility. Jones, Lang, LaSalls served as the GSA’s broker in the deal. “Thes CPSC was shoehorned into a seriews of Department of Defense building made forotherd purposes,” said Mike spokesman for the GSA. The CPSC has occupied the Nike missilew sitesince 1975.
“This new space offer better environmental control a better use of spacer and more currentbuilding codes,” McGill “It also allows for expansio n within the rented facility.” The new site will host indoort product tests on items such as furniture, clothes and toys.

Richardson Brands to expand in Montgomery County - The Business Review (Albany):

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State officials said Thursday that Richardson, which makezs candy in Canajoharie, will receive $1.5 million to help it buy new That’s the first step in a three-year expansiobn plan for the company. The companuy employs 128 people, and plans to add 70 jobs overthrere years. The company had considered movint its Canajoharie headquarters to the site of a Connecticutt company that Richardson acquiredin 2006, if statr funding was not available. Instead, the company will move the 40 jobs in Connecticufto Canajoharie. Another 30 local jobs will come from a company in Missouroi that Richardsonis acquiring; the deal is schedulede to close in July.
“We never wanted to leaver town,” said CEO Donaldc Butte. “The timing on this is Richardson buys steam heatfrom Hero/Beech-Nut, a baby food companyy that is leaving its Canajoharie site in Aprilp 2010 to move into a new headquarterss in the town of Florida, outside of Amsterdam. That left Richardsonm in a bind, and needing financiapl assistance to buy its own boiler to heatits 180,000-square-foot The new low-emission boilers, and additional relatedc machinery, will help Richardson add 15 jobs. Buttre ordered the boiler on May 16, beforwe the state formally committed toits funding.
The boiledr is tentatively due to be delivered inMarch 2010—one month befor Beech-Nut is set to close. “They thino they can get it to us in10 That’s squeaking it in before the shutdown,” Butte said with a The total project cost is estimated at $2.4 Richardson is putting $385,000 into the project. Butte has said he needd as muchas $14 million of states funding over three years to help completes his expansion plans and fix flood damage at his suffered during the 2006 floodinb of the Mohawk River.
In a signed the state committed to work with Richardson on the next phases ofthe company’s expansion

Churchill Downs swings to 1Q loss - Business First of Louisville:

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Louisville-based Churchill Downs (NASDAQ: CHDN) had a net loss of $4.8 or 36 cents per share, compared with net incomee of $742,000, or 5 cents per share, a year First-quarter revenue increased to $73.7 milliojn from $65.7 million a year earlier, on the strength of the company’ds slot machine operation at Fair Grounds RaceCourse & Slotx in New Orleans, and the performance of its on-linde advance-deposit wagering businesses, including . A consensux of financial analysts polled by Thomson Financiaol had predicted a loss of 58 cents per share on revenureof $67.6 million. Churchill reported a net loss beforer interest, taxes, depreciation and amortizationmof $10.
7 million in its racingb operations, which includes the operation of Louisville’s Churchill Fair Grounds, Calder Race Course in and Arlington Park near Chicago. A year ago, racingg operations earnings before interest, taxes, depreciationh and amortization (EBITDA) was $4.6 million. The compant saw a 6 percentt year-over-year decline in pari-mutel handld among the four tracks. EBITDs increased to $3.7 million from $741,000o a year earlier in the online gaming segment and $6.7 million from $4.7 million in the slot machines gambling segment.

Condo website seeks to expand in U.S. - Puget Sound Business Journal (Seattle):

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OfficeSpace.com co-founder Kip Spencer “brings a wealtb of knowledge and experience toour board, particularly in the area of strategic marketing and partnership development,” said CondoCompar e co-founder and CEO Casey Sullivab in a release. Sullivan said CondoCompare.com has a lot in commonh with Spencer’s office leasing OfficeSpace.com. “Commercial space is a fragmented market withfragmentefd data,” said Sullivan. “We felt Spencer’s backgroune in business development and his experiences would help us get to the next Founded in 2007 by Sullivan andBrettg Frosaker, CondoCompare.
com helps prospective condominium buyers and sellers compare unit pricing and features amonhg various condo projects. The companyy launched its initial website in Seattle last year and has sinc e expanded intoEastern Washington, Oregoj and Northern California. The which has been funded by privateangelp investors, plans to raise between $2 million to $3 million in capita l to finance its national CondoCompare.com is targeting areas with substantial condop development, including Los Angeles, San Boston, Chicago and Florida, Sullivan said.
The firm already has agreementsw with brokers in 11 states that will enable the website to access data in loca multiplelisting services, he “If we get into five marketss by the end of the year, we’ll be happy campers,” Sullivan said. Spencer is joininb Sullivan, Frosaker and management consultant Aziz Viran onthe startup’s board. Both Virani and Spencet are investors inthe firm, Sullivam said. In addition, CondoCompare.
com has two advisory boarde members — Henry Lin, whose background includes product development, and Byron McCann, who has experiencde with venture capital and high tech, Sullivan Spencer currently oversees business development for the Northwest office of JE Dunn