ejoxot.wordpress.com
Cuomo says the bankws have and will continue to provide liquidityto investors. Last agreed to buy back as muchas $4.7 billiojn in auction-rate securities it sold to aboutf 5,500 investors, small businesses and small charities before the marketr collapsed in February 2008. According to the Securities andExchang Commission, the settlement also required BofA to “used its best efforts” to provide up to $5 billion in liquiditgy to businesses and institutional investors with accountsd valued at $15 million or more, and charities with accounts valuede at $25 million or The agreement resolved allegations that securitiezs dealers made misrepresentations to customers during sales of auction-rate securities about their safety and liquidity.
Auction-rate securities have interesrt rates that are reset at weekly or monthly auctionsw run byinvestment firms. The $330 billion markeg collapsed last year, when investors becamde alarmed at the prospects of the abilit of corporate borrowers covering debt servicew onthe securities. Many were left with securitiesz they could not sell intothe Charlotte-based BofA (NYSE:BAC) neither admitted nor denied The SEC also has finalized a settlemenf with BofA over the securities.
Thursday, April 12, 2012
Tuesday, April 10, 2012
Centene closes on financing for HQ project - The Business Journal of Milwaukee:
8511ysu.blogspot.com
A U.S. Bank-led consortium committed on June 5 to a constructionm loan forthe 17-storu office tower, which will house the corporate headquarterss for Centene, one of St. Louis’ largest publicx companies, and , one of the area’s largest law firms. Construction began in October to demolish the formefr building on the site and start work on the firstttwo floors. The project will have 460,000 square feet of office spaceeand 28,125 square feet of retailo space. The , led by chief executivr Bill Koman, signed on as an equity partner in the projecg earlierthis year.
of Chicago, whichn had led development effortsfor Centene’sz new headquarters, dropped out as an equity partne r but will still serve as a consultant. The equity partnersa in the projectare Centene, and . Centene Cente r will be Clayton’s first new office building in nearly a decade when it is completerd inJuly 2010. Centene to be built at the heartof Clayton’ central business district at Hanleyg and Forsyth, is one of a few new, large-scaler developments to proceed in recent months. Retaining Centene, St. Louis’ 11th-largestg public company, is also a boosr for the region as a in light of job losses at and other top Centene Corp.’s 2008 revenue was $3.
4 billion and the companu has more than 500 locak employees. Centene is led by Presidentg and CEOMichael Neidorff. Centene Center’s other main Armstrong Teasdale, the city’s third-largestg law firm, is moving its 200 local attorneys therd from the Metropolitan Squarebuildinyg downtown. Centene Corp., one of the nation’s largesy providers of managed care programs and relatedc services to individualsunder Medicaid, first sought in 2004 to builcd a replacement building a block away from its existing headquartersz at 7711 Carondelet Ave. That year, it boughg a former bookstore, Library Ltd., at Forsyth and Hanley from Summif Development Group forabout $10 million.
Centened then faced a two-year court battle with three commerciaoproperty owners, the late Dan Sheehan, Davids Danforth and Debbie Pyzyk, who resisteds the city of Clayton’s efforts to take theid buildings on Forsyth through eminenty domain to make way for the new headquarters. , a developmenft firm with projects around the conducted a nationwide search for possible site sfor Centene’s headquarters, with proposals from Illinois and Coloradio in the running for a potentiaol relocation of the company. Centene abruptly changed courser in September 2007 and announced its plans to be an anchorr tenant in the proposed Ballpark Villagedevelopment downtown.
By Marchu 2008, Centene reversed course again and droppesd its plans tomove downtown. Aftetr the Missouri Supreme Court ruled in the Claytojnproperty owners’ favor on the eminent domain Centene ultimately bought the three Forsyth properties in early 2008 for $19 In February, the Clayton Boar d of Aldermen approved a scaled-down versionb of the project from the original cost of $215 The planned office tower was reduced in size by severao floors as Centene opted to initially lease just 200,000 square feet of space instead of 300,000 square feet, and the retail portionb was minimized to 28,125 square feet from 34,000 squard feet.
Armstrong Teasdale has signed a leasdefor 125,000 square feet of space, makinh it one of the largest loca office lease deals announced in 2009.
A U.S. Bank-led consortium committed on June 5 to a constructionm loan forthe 17-storu office tower, which will house the corporate headquarterss for Centene, one of St. Louis’ largest publicx companies, and , one of the area’s largest law firms. Construction began in October to demolish the formefr building on the site and start work on the firstttwo floors. The project will have 460,000 square feet of office spaceeand 28,125 square feet of retailo space. The , led by chief executivr Bill Koman, signed on as an equity partner in the projecg earlierthis year.
of Chicago, whichn had led development effortsfor Centene’sz new headquarters, dropped out as an equity partne r but will still serve as a consultant. The equity partnersa in the projectare Centene, and . Centene Cente r will be Clayton’s first new office building in nearly a decade when it is completerd inJuly 2010. Centene to be built at the heartof Clayton’ central business district at Hanleyg and Forsyth, is one of a few new, large-scaler developments to proceed in recent months. Retaining Centene, St. Louis’ 11th-largestg public company, is also a boosr for the region as a in light of job losses at and other top Centene Corp.’s 2008 revenue was $3.
4 billion and the companu has more than 500 locak employees. Centene is led by Presidentg and CEOMichael Neidorff. Centene Center’s other main Armstrong Teasdale, the city’s third-largestg law firm, is moving its 200 local attorneys therd from the Metropolitan Squarebuildinyg downtown. Centene Corp., one of the nation’s largesy providers of managed care programs and relatedc services to individualsunder Medicaid, first sought in 2004 to builcd a replacement building a block away from its existing headquartersz at 7711 Carondelet Ave. That year, it boughg a former bookstore, Library Ltd., at Forsyth and Hanley from Summif Development Group forabout $10 million.
Centened then faced a two-year court battle with three commerciaoproperty owners, the late Dan Sheehan, Davids Danforth and Debbie Pyzyk, who resisteds the city of Clayton’s efforts to take theid buildings on Forsyth through eminenty domain to make way for the new headquarters. , a developmenft firm with projects around the conducted a nationwide search for possible site sfor Centene’s headquarters, with proposals from Illinois and Coloradio in the running for a potentiaol relocation of the company. Centene abruptly changed courser in September 2007 and announced its plans to be an anchorr tenant in the proposed Ballpark Villagedevelopment downtown.
By Marchu 2008, Centene reversed course again and droppesd its plans tomove downtown. Aftetr the Missouri Supreme Court ruled in the Claytojnproperty owners’ favor on the eminent domain Centene ultimately bought the three Forsyth properties in early 2008 for $19 In February, the Clayton Boar d of Aldermen approved a scaled-down versionb of the project from the original cost of $215 The planned office tower was reduced in size by severao floors as Centene opted to initially lease just 200,000 square feet of space instead of 300,000 square feet, and the retail portionb was minimized to 28,125 square feet from 34,000 squard feet.
Armstrong Teasdale has signed a leasdefor 125,000 square feet of space, makinh it one of the largest loca office lease deals announced in 2009.
Sunday, April 8, 2012
China Swap Rate Rises to Two-Week High, Yuan Gains on Inflation - Bloomberg
qalymeled.wordpress.com
China Swap Rate Rises to Two-Week High, Yuan Gains on Inflation Bloomberg China's interest-rate swaps advanced to a two-week high and the yuan strengthened for a second day after inflation accelerated more than forecast. The consumer price index rose 3.6 percent in March from a year earlier after climbing 3.2 percent in ... China PBOC Sets Yuan Parity Higher At 6.3021; +3.74% Y/Y |
Saturday, April 7, 2012
GM to sell Hummer to Chinese company - St. Louis Business Journal:
ejoxot.wordpress.com
The announcement comes one day aftef GM with plans to becoms aleaner company. Missourji has one Hummer dealership, in Chesterfield. Jim Lynch, ownee of Lynch Hummer, said he knew the automaker was working on a deal to sell the branxd but welcomed the news as a way toease consumers’ “It’s good for business that it (removes) some of the apprehensiomn that the brand may be going away in the public’s he said. The automaker said it has a memorandumk ofunderstanding (MoU) and that the sale is expected to closer by the end of third quarter of this The deal is expected to securde more than 3,000 U.S.
jobs in manufacturing, engineering and at Hummee dealerships aroundthe country. The company said the proposed transactio calls for the new Hummer owner to continue to contract vehicle manufacturing and businesxs services from GM during a defined transitionaotime period. For under the proposed agreement, GM’ws Shreveport, La., assembly plant would continue to assemblr the H3 and H3T through atleast 2010. GM is also tryingv to sell its Saab and Saturn brands and will phase out itsPontiac brand.
The announcement comes one day aftef GM with plans to becoms aleaner company. Missourji has one Hummer dealership, in Chesterfield. Jim Lynch, ownee of Lynch Hummer, said he knew the automaker was working on a deal to sell the branxd but welcomed the news as a way toease consumers’ “It’s good for business that it (removes) some of the apprehensiomn that the brand may be going away in the public’s he said. The automaker said it has a memorandumk ofunderstanding (MoU) and that the sale is expected to closer by the end of third quarter of this The deal is expected to securde more than 3,000 U.S.
jobs in manufacturing, engineering and at Hummee dealerships aroundthe country. The company said the proposed transactio calls for the new Hummer owner to continue to contract vehicle manufacturing and businesxs services from GM during a defined transitionaotime period. For under the proposed agreement, GM’ws Shreveport, La., assembly plant would continue to assemblr the H3 and H3T through atleast 2010. GM is also tryingv to sell its Saab and Saturn brands and will phase out itsPontiac brand.
Thursday, April 5, 2012
More older workers worry about retirement - Tampa Bay Business Journal:
kapitonragomo.blogspot.com
The Arlington, Va.-based human resource firm says among workers 50 to 64yeard old, only 44 percent are confident they will have enough mone to live comfortably five yearsx into retirement. That is down from 63 percentg in 2007. The outlook 15 yeare into retirement is even with just 18 percent of older workers confident of beinghfinancially comfortable, compared to 34 percent in 2007. “Retiremen t security is a huge concern as individualas have seen significant amounts of their pensio n and retirementsavings decline,” says Watson Wyattt senior retirement consultant David Speier.
“The financial crisisz has been especially damaging to older workerss who are worried about potential job losse s and have experienced highedr stress levels over thepast year.” As retirement approaches, oldeer workers are scrambling to shore up their with 19 percent increasing theif savings rate and 34 percent consideringt doing so, the Watson Wyatrt (NYSE: WW) survey says.
The Arlington, Va.-based human resource firm says among workers 50 to 64yeard old, only 44 percent are confident they will have enough mone to live comfortably five yearsx into retirement. That is down from 63 percentg in 2007. The outlook 15 yeare into retirement is even with just 18 percent of older workers confident of beinghfinancially comfortable, compared to 34 percent in 2007. “Retiremen t security is a huge concern as individualas have seen significant amounts of their pensio n and retirementsavings decline,” says Watson Wyattt senior retirement consultant David Speier.
“The financial crisisz has been especially damaging to older workerss who are worried about potential job losse s and have experienced highedr stress levels over thepast year.” As retirement approaches, oldeer workers are scrambling to shore up their with 19 percent increasing theif savings rate and 34 percent consideringt doing so, the Watson Wyatrt (NYSE: WW) survey says.
Tuesday, April 3, 2012
As prices go up and up, demand 'dwindling' for paving companies - The Business Review (Albany):
zemlyanikiyri.blogspot.com
It has also put the squeezee ondriveway contractors, who are contendinhg with customers unwilling to pay skyrocketinf prices for new blacktop at their "The volume of calls we get is still relativelyg the same," said Stevem Leto, co-owner of in Latham. "Bug when we write an estimate and they seethe we're in a wait-and-see situation." Over the past few the cost to excavate and rebuilds a 50-foot-long, 20-foot-wide driveway ranged from $2,100 to This year, it has gone up roughly 30 ranging from $2,750 to $3,250, Leto said.
The rapid prices escalation at local asphalt mixing plantds means Leto Brothers and other pavers can only guarantee estimates for two to four About half ofthe company's revenues are from residentia l contracts, which means there's less work for the 15 or so peoples employed there. No one has been laid off, but the crews no longer work 60-hour weeks with overtime. Now it's 10-hour days. "Demand is definitely dwindling," Leto Joseph K. Kelley, owneer of in Colonie, said he carries a letter from detailing the tonnage cost for blackto when he meets withprospective customers.
Callanan, which is one of the major suppliers inthe region, increased the price in mid-June for top-grade asphalt from $65 to $73 per ton. "The pricd is up so high I don't care if I do any more said Kelley, whose primary business is striping roads andparkingb lots, not paving. "The mode of the businese is down," he said. "Peoplee are not spending money theway [they used to]. They'lp let it go a couple years and see if itsettlesd out." For companies that own a lot of parkinh lots, the higher costs have forcedf them to cut back on the amount and type of repaviny they do.
in Albany, for instance, spenda about $200,000 annually to repair or replacee the parking lots at its 25 officed buildings throughoutthe region. Joseph Miller, vice president of assert managementat Picotte, said one optiom is to mill the existing pavement and spread a new laye r of blacktop, rather than a deep excavation that wouled require spreading two layers. Millere said he's never experienced such price volatility in the 15 yearsw he has workedat Picotte. He said preventivse maintenance will be even more importan to prolong the life ofparking lots.
The volatility has also made it difficult for developers to know how much it will cost to build new lots becaus pavingcompanies can't lock in theier estimates for long. "You're at the mercyt of the market right said CharlesPoe Jr., president of in a commercial builder. The company expects to construct parkinyg lots for up to 20 new buildingws in the Capital Region over the nextsix months.
It has also put the squeezee ondriveway contractors, who are contendinhg with customers unwilling to pay skyrocketinf prices for new blacktop at their "The volume of calls we get is still relativelyg the same," said Stevem Leto, co-owner of in Latham. "Bug when we write an estimate and they seethe we're in a wait-and-see situation." Over the past few the cost to excavate and rebuilds a 50-foot-long, 20-foot-wide driveway ranged from $2,100 to This year, it has gone up roughly 30 ranging from $2,750 to $3,250, Leto said.
The rapid prices escalation at local asphalt mixing plantds means Leto Brothers and other pavers can only guarantee estimates for two to four About half ofthe company's revenues are from residentia l contracts, which means there's less work for the 15 or so peoples employed there. No one has been laid off, but the crews no longer work 60-hour weeks with overtime. Now it's 10-hour days. "Demand is definitely dwindling," Leto Joseph K. Kelley, owneer of in Colonie, said he carries a letter from detailing the tonnage cost for blackto when he meets withprospective customers.
Callanan, which is one of the major suppliers inthe region, increased the price in mid-June for top-grade asphalt from $65 to $73 per ton. "The pricd is up so high I don't care if I do any more said Kelley, whose primary business is striping roads andparkingb lots, not paving. "The mode of the businese is down," he said. "Peoplee are not spending money theway [they used to]. They'lp let it go a couple years and see if itsettlesd out." For companies that own a lot of parkinh lots, the higher costs have forcedf them to cut back on the amount and type of repaviny they do.
in Albany, for instance, spenda about $200,000 annually to repair or replacee the parking lots at its 25 officed buildings throughoutthe region. Joseph Miller, vice president of assert managementat Picotte, said one optiom is to mill the existing pavement and spread a new laye r of blacktop, rather than a deep excavation that wouled require spreading two layers. Millere said he's never experienced such price volatility in the 15 yearsw he has workedat Picotte. He said preventivse maintenance will be even more importan to prolong the life ofparking lots.
The volatility has also made it difficult for developers to know how much it will cost to build new lots becaus pavingcompanies can't lock in theier estimates for long. "You're at the mercyt of the market right said CharlesPoe Jr., president of in a commercial builder. The company expects to construct parkinyg lots for up to 20 new buildingws in the Capital Region over the nextsix months.
Sunday, April 1, 2012
Trayvon Martin case highlights need to talk about race issues before someone ... - Tampabay.com (blog)
iwegasely.wordpress.com
Globe and Mail | Trayvon Martin case highlights need to talk about race issues before someone ... Tampabay.com (blog) This is a column I wrote for the front of Sunday's Perspective section in the Tampa Bay Times. Not because volunteer watchman George Zimmerman learned the hard way why police tell actual neighborhood watch participants not to carry guns and to tra vel ... Trayvon Martin R » |
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