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million. In a statement the Arlington-baseed company (NYSE: FBR) said that pursuanr to a stock repurchase agreement between the company and FBR Capital Markets, the company will sell and FBR Capitalp Markets (NASDAQ: FBCM) will 16.67 million shares of FBR Capital Markets common stock at a purchased price of $4.35 per share. The stocmk sale will reduce Arlington Asset's ownershiop stake in FBR Capital Marketsz from approximately 56 percent to approximatelg39 percent. The stocik sale is expected to close on or beforerJune 2. FBR Capital Markets continued to bleed red ink in the firstf quarter as it worked to downsize the Itlost $16.
2 million, or 27 cent per share, in the first quarter, comparedd to a $10.2 million loss, or 16 cents per share, during the same period a year The losses came amid a 93 percent drop in investmengt banking revenue from capital raising, which led to an overall 52 percen reduction in revenue from a year earliedr to $49.7 million for the quarter. Following the FBR Capital Markets has agreed to cooperatw with Arlington Asset Investment Corp to facilitate the saleof Arlington'as remaining shares of FBR Capital Markets. The companieas have also agreed to terminate certainm intercompany services andgovernance agreements.
Sunday, October 30, 2011
Thursday, October 27, 2011
Distracted driving targeted in new PSA - The Hill (blog)
acklinegymejac1362.blogspot.com
USA Today | Distracted driving targeted in new PSA The Hill (blog) Transportation Secretary Ray LaHood said he hopes the campaign "will send a strong message to teens that putting away cellphones and other distractions while you're driving is not just common-sense safe behavior, it can save your life. ... Company argues text messaging is by far the biggest danger to drivers McKenna urges young drivers to “stop the texts and stop the wrecks†Texting: Teens Scared Straight? |
Tuesday, October 25, 2011
Shanghai Homeowners Smash Showroom in Protest Over Falling Prices - Wall Street Journal (blog)
jidyryq.wordpress.com
Shanghai Homeowners Smash Showroom in Protest Over Falling Prices Wall Street Journal (blog) A group of around 400 homeowners in Shanghai demonstrated publicly and damaged a showroom operated by their property developer after the company said it cut prices. Home buyers had wanted to speak with the developer to refund or cancel their contracts ... |
Sunday, October 23, 2011
Cruiskeen Lawn June 23rd, 1943 - Irish Times
vadimsudigrenev.blogspot.com
Cruiskeen Lawn June 23rd, 1943 Irish Times YESTERDAY I marched into the polling booth, happy that the decent government had permitted me to take part in the complex quinquennial gestation that culminates in an expression of The People's Will. As usual, everybody looked as if they (yes, I know, ... |
Friday, October 21, 2011
Triad gets $8.8M for stimulus road work - The Business Journal of the Greater Triad Area:
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million and were awarded to thelowesyt bidder. The Triad will receive abourt $8.8 million for three construction projects. “Thesew projects will help create and sustaimn thousands of jobs and provid needed economic development in counties throughouytNorth Carolina,” said Gov. Bev Perdue. “The will improve critical routews to help better connect North Carolinians arounfdthe state.” Bids receivexd came in about 25 or $36.7 million, below N.C. Department of Transportation Work will start in late June orearlhy July. The stimulus projects include three inthe Triad. $3.8 million, resurfacing 4.
1 miles of Interstate 40/85 from east of Rock Creekj Dairy Road in Guilforde County to west of University Driver inAlamance County. S.T. Wooten of Wilson received the Work is scheduled for June 29to Oct. 30. $1.5 million, rehabilitating two milesx of U.S. 29 in Rockingham Countyh from the Guilford line north toTroublesome W-L Construction & Paving Inc. of Va., won the contract. Work is scheduled for June 29 to Oct. 16. $3.5 million, resurfacing 5.1 miles of I-77 from U.S. 21 Businese in Yadkin County tothe U.S. 21 bypass in Surry County. Carl Rose Sons Inc. of Elkin received the Work is scheduled for July 6to Nov. 13.
million and were awarded to thelowesyt bidder. The Triad will receive abourt $8.8 million for three construction projects. “Thesew projects will help create and sustaimn thousands of jobs and provid needed economic development in counties throughouytNorth Carolina,” said Gov. Bev Perdue. “The will improve critical routews to help better connect North Carolinians arounfdthe state.” Bids receivexd came in about 25 or $36.7 million, below N.C. Department of Transportation Work will start in late June orearlhy July. The stimulus projects include three inthe Triad. $3.8 million, resurfacing 4.
1 miles of Interstate 40/85 from east of Rock Creekj Dairy Road in Guilforde County to west of University Driver inAlamance County. S.T. Wooten of Wilson received the Work is scheduled for June 29to Oct. 30. $1.5 million, rehabilitating two milesx of U.S. 29 in Rockingham Countyh from the Guilford line north toTroublesome W-L Construction & Paving Inc. of Va., won the contract. Work is scheduled for June 29 to Oct. 16. $3.5 million, resurfacing 5.1 miles of I-77 from U.S. 21 Businese in Yadkin County tothe U.S. 21 bypass in Surry County. Carl Rose Sons Inc. of Elkin received the Work is scheduled for July 6to Nov. 13.
Monday, October 17, 2011
Cushman & Wakefield loses third Miami exec - Charlotte Business Journal:
aleshnikovenil.blogspot.com
Caplin’s exit is the latest of severalrecent high-profiled departures at C&W in Miami. The firm is one of South Florida's largest real estate brokeragess and, like other brokerages, has seen few investmeny deals in thelast year. Former branch managetr Tere Blanca left in the spring tolaunch , a firm focusedf on office leasing and sales. Hank executive director of C&W in Florida, was notifie last month that his position was being eliminated. Steelbridge owns and manages propertyuthroughout Florida. It sold , on Miami’sx Brickell Key, for $150 million in 2007 after an eight-yead hold.
Steelbridge founder Gavin Campbellp will continue asmanaging principal, sharing the helm with Caplin. Caplim is one of a handful of commercial brokers involved inSouth Florida’s largest commercial transactions. Caplin said his exit is in responser to a paradigm shift in local investmenrt that comes at the tail end ofa cycle, wher leasing and management for institutional investorss became secondary to market momentum. During the boom yearas leading up to the expectation was that assetse with strong track records could be purchased and flippec quickly forbig returns. For a short period of some owners made thestrategy work, but then the economic meltdownb put the brakes on the market.
Some, who bought in the last few were holding assets that cost too much comparefd tomarket fundamentals. The market has now shiftef back to fundamental principlesof investment, with institutional investorss and private capital “seekinyg to co-invest with strong, nimble, local operating Caplin said. “The market and investore mostlybelieve it’s about operations on the groune and knowing how to position a building in a particulad submarket,” he said. Caplin oversaw more than $7 billiom in transactions at C&W, including $307 million purchase of a half-stakse in downtown Miami’s landmark and full ownership of the 1221 Brickelkl buildingin 2006.
He was involved in the sale of 355 Alhambrsa in Coral Gablesfor $87.3 million in 2008 and is currentlgy working with Hines to refinance its debt at . Caplijn is a graduate of south Miami-Dade County’s Palmettp High School. He graduated from in 1985 witha bachelor’sa degree in finance and real estate. Two yeards later, he left C&W’s appraisal group to launcnh the company’s local investment sales operation.
Caplin was part of a team in the late 1980ds that first specialized in investment sales in Duringthe mid-1990s, Steelbridge Capital had 2 million square feet of commercial real estate in its portfolio in sevehn Florida markets including Jacksonville, Napleas and Miami. They sold much of it from 2005to 2007. Caplin’sa arrival marks another periodof opportunity-investment for the Steelbridge’s Campbell said. "We thinkm valuations are finally starting to lookattractive again,” Campbelol said in a statement.
“The opportunity to buy Florida assets at significant discounts to replacemen t costis imminent, whilwe the long-term job and demographic prospects for Floridaq and the Caribbean basin are as strong as ever. Jay’s leadershilp will be the linchpinh ofour strategy."
Caplin’s exit is the latest of severalrecent high-profiled departures at C&W in Miami. The firm is one of South Florida's largest real estate brokeragess and, like other brokerages, has seen few investmeny deals in thelast year. Former branch managetr Tere Blanca left in the spring tolaunch , a firm focusedf on office leasing and sales. Hank executive director of C&W in Florida, was notifie last month that his position was being eliminated. Steelbridge owns and manages propertyuthroughout Florida. It sold , on Miami’sx Brickell Key, for $150 million in 2007 after an eight-yead hold.
Steelbridge founder Gavin Campbellp will continue asmanaging principal, sharing the helm with Caplin. Caplim is one of a handful of commercial brokers involved inSouth Florida’s largest commercial transactions. Caplin said his exit is in responser to a paradigm shift in local investmenrt that comes at the tail end ofa cycle, wher leasing and management for institutional investorss became secondary to market momentum. During the boom yearas leading up to the expectation was that assetse with strong track records could be purchased and flippec quickly forbig returns. For a short period of some owners made thestrategy work, but then the economic meltdownb put the brakes on the market.
Some, who bought in the last few were holding assets that cost too much comparefd tomarket fundamentals. The market has now shiftef back to fundamental principlesof investment, with institutional investorss and private capital “seekinyg to co-invest with strong, nimble, local operating Caplin said. “The market and investore mostlybelieve it’s about operations on the groune and knowing how to position a building in a particulad submarket,” he said. Caplin oversaw more than $7 billiom in transactions at C&W, including $307 million purchase of a half-stakse in downtown Miami’s landmark and full ownership of the 1221 Brickelkl buildingin 2006.
He was involved in the sale of 355 Alhambrsa in Coral Gablesfor $87.3 million in 2008 and is currentlgy working with Hines to refinance its debt at . Caplijn is a graduate of south Miami-Dade County’s Palmettp High School. He graduated from in 1985 witha bachelor’sa degree in finance and real estate. Two yeards later, he left C&W’s appraisal group to launcnh the company’s local investment sales operation.
Caplin was part of a team in the late 1980ds that first specialized in investment sales in Duringthe mid-1990s, Steelbridge Capital had 2 million square feet of commercial real estate in its portfolio in sevehn Florida markets including Jacksonville, Napleas and Miami. They sold much of it from 2005to 2007. Caplin’sa arrival marks another periodof opportunity-investment for the Steelbridge’s Campbell said. "We thinkm valuations are finally starting to lookattractive again,” Campbelol said in a statement.
“The opportunity to buy Florida assets at significant discounts to replacemen t costis imminent, whilwe the long-term job and demographic prospects for Floridaq and the Caribbean basin are as strong as ever. Jay’s leadershilp will be the linchpinh ofour strategy."
Friday, October 14, 2011
Hecker's finances detailed in court filing - Minneapolis / St. Paul Business Journal:
uhetemejih.wordpress.com
million in liabilities and $18.5 million in according to court documents filed Wednesdaygin U.S. Bankruptcy Court. Hecker, who in earlyt June, said he owes $530.3 million to securedr creditors, $236.3 million of nonprioritgy claims to unsecured creditorszand $95,269 of priority claims to unsecured Those are gross claims prioer to the value of collateral beingt deducted. Hecker’s largest secured creditor is Farmington, Mich.-baser , which is owed $476.9 Chrysler Financial in late April. Axie Capital/SageCrest in Conn. ($15 million), U.S. Bank in Minneapolis ($8.3 million), TCF Nationalp Bank in Minneapolis ($6.5 million), Cornerstone Bank in N.D. ($4.
8 million), The Lake Bank in Two Harbors ($2.6 IRS ($2.6 million), Alliance Bank in St. Paul ($2.5 million), Associated Bank in St. Paul ($2.5 million) and GELCOp Corp. in Eden Prairie ($1.8 million). The largest unsecured nonpriority claim is held byMountai Valley, Calif.-based Hyundai Motor Finance Co., whicjh is owed $55.2 million. U.S. Bank in Minneapolisd ($44.4 million), Toyota Motor Credit in Minnetonka ($13.8 million), VFS Financingt Inc. in Danbury, Conn. ($13.8 Bremer Bank in South St. Paul ($8.6 NorthMarq Capital in Bloomington ($8.1 and M&I Bank in Milwaukee ($8 million). Meanwhile, Hecker listexd $7.6 million in “real and $10.
9 million in “personal property.” His “reao property” includes a $4.4 milliobn home in Crosslake and six other houses and condominiums he owns or His personal property includesa $300,000 53-foott Hatteras boat, $35,290 in watches, $25,000 in a $24,000 wedding a John Deere riding four dirt bikes, seven three Vespa scooters, six four-wheelers, seven jet eight sets of golf clubs, two shotgunse and various home furnishings, as well as money he has in numerouas bank accounts, stocks, IRAs, accounts receivablr and other financial holdings.
million in liabilities and $18.5 million in according to court documents filed Wednesdaygin U.S. Bankruptcy Court. Hecker, who in earlyt June, said he owes $530.3 million to securedr creditors, $236.3 million of nonprioritgy claims to unsecured creditorszand $95,269 of priority claims to unsecured Those are gross claims prioer to the value of collateral beingt deducted. Hecker’s largest secured creditor is Farmington, Mich.-baser , which is owed $476.9 Chrysler Financial in late April. Axie Capital/SageCrest in Conn. ($15 million), U.S. Bank in Minneapolis ($8.3 million), TCF Nationalp Bank in Minneapolis ($6.5 million), Cornerstone Bank in N.D. ($4.
8 million), The Lake Bank in Two Harbors ($2.6 IRS ($2.6 million), Alliance Bank in St. Paul ($2.5 million), Associated Bank in St. Paul ($2.5 million) and GELCOp Corp. in Eden Prairie ($1.8 million). The largest unsecured nonpriority claim is held byMountai Valley, Calif.-based Hyundai Motor Finance Co., whicjh is owed $55.2 million. U.S. Bank in Minneapolisd ($44.4 million), Toyota Motor Credit in Minnetonka ($13.8 million), VFS Financingt Inc. in Danbury, Conn. ($13.8 Bremer Bank in South St. Paul ($8.6 NorthMarq Capital in Bloomington ($8.1 and M&I Bank in Milwaukee ($8 million). Meanwhile, Hecker listexd $7.6 million in “real and $10.
9 million in “personal property.” His “reao property” includes a $4.4 milliobn home in Crosslake and six other houses and condominiums he owns or His personal property includesa $300,000 53-foott Hatteras boat, $35,290 in watches, $25,000 in a $24,000 wedding a John Deere riding four dirt bikes, seven three Vespa scooters, six four-wheelers, seven jet eight sets of golf clubs, two shotgunse and various home furnishings, as well as money he has in numerouas bank accounts, stocks, IRAs, accounts receivablr and other financial holdings.
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