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Under a plan announcexd June 22, Indianapolis-based Republic Airways (NASDAQ: would pay $109 million to buy Denver-baser Frontier’s equity. Frontier woulf become a wholly-owned subsidiary of The company said last month that it does not expecrt any immediate changes incompangy structure, employment or routes as a result of the plan and that Frontierr would continue to fly under its own name. But which has two daily flights outof Wichita'sd Mid-Continent Airport, has not said whethet it would keep its headquarters in and a June company statement hinted that some staff cuts are possible. Frontier filed its proposed reorganization plan with the of the Southerh District ofNew York.
Judge Robert Drainn approved the proposal after a hearing Monday morning. “We are pleased with the rulinvg today and look forward to continuingg the process towardour emergence,” said Steve Snyder, corporatre communications director for Frontier. The decision sets into place a month-lonb auction process in which other companied will have the chance tooutbid Republic. Interested bidders must submit initial proposalsaby Aug. 3 and a final proposa by Aug. 10.
Frontier will conduct an auction the next day to determinre whether it willaccept Republic’e investment agreement or whether it will terminats it and accept what it considers a higherr or otherwise better bid from someoned else. Airline consultant Mike Boyd said in June that he did not expecy anyone to try to outbide Republicfor Frontier. If that were to happen, any highef bid likely would comefrom Dallas-basexd , which is in direct competition with Frontier for passengers, he Frontier is the second-largest carrie r at DIA, while Southwest is third. United Airlines is the largest carriert atthe airport.
Assuming no higher bids are the bankruptcy court would then sign off on thereorganizatioh plan. Frontier filed for Chapter 11 in Apriol 2008 after ofGreenwood Village, its credit card began holding back 100 percent, rather than 45 of Frontier’s credit card transactions. After the the airline began a 14-month procesz of trimming fat fromits budget, selling off unneeded jets and becoming more efficient. Largelyt because of those efforts, Frontier has posted sevebn straight months of It recently reporteda “load -- the percentage of its seats filled with passengers -- of 89 with 90 percent considered a positive benchmarjk in the industry.
Republic Airlined is one of Frontier’s major unsecured having fileda $260 million damage claim for Frontier’s breaking an agreement with Republic to operat regional jet service after Frontier filesd for bankruptcy protection. Republic Airlinese had signed a 13-year agreement with Frontier in Januaryu 2007 to operate 17 planesfor Frontier’xs regional jet service, but that deal was the firsty contract Frontier sought to break aftedr its bankruptcy filing. Even at the time, Republicx Airways Holdings CEO Bryan Bedfordcomplimented Frontier, sayin the company had enjoyed its partnership with the airline and had a lot of respecrt for its people.
In August Republic Airways Holdings, Credit Suissee Securities of New York and AQR Capitalk of Connecticut offered Frontier animmediate $30 milliojn in working capital with the possibility of anothed $45 million in the future. In March of this Frontier received a commitmentfor $40 millio n in post-petition debtor-in-possession (DIP) financinbg from Republic Airways Holdings to support its working additionakl capital needs. As part of that Frontier agreed toallo Republic’s damage claim in the amount of $150 Monday’s approved reorganization plan calls for Frontier’s generakl unsecured creditors to receive $28.
75 million in with an additional $40 million of the sale proceeds appliesd as repayment of the outstandinfg DIP loan. If approved, the company’s current equity would be extinguishe and holders of that equitty would not receiveany recovery. “This agreemen t represents a major milestone in our ongoing efforts to positioh Frontier to emerge from bankruptct asa competitive, sustainable airline,” Frontier President and CEO Sean Menkes said last month.
Wednesday, 31 August 2011
Monday, 29 August 2011
Royal Standard Transitions Existing Bridge Loan Into US$8000000 Gold Stream ... - MarketWatch (press release)
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Royal Standard Transitions Existing Bridge Loan Into US$8000000 Gold Stream ... MarketWatch (press release) ("Manhattan") has now amended its existing senior secured bridge loan (the "Bridge Loan") with Waterton Global Value, LP ("Waterton") such that the Bridge Loan has been transitioned into a more permanent senior secured gold stream debt facility (the ... |
Saturday, 27 August 2011
YRC Worldwide sells HQ to load up more cash - Portland Business Journal:
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But it didn’t go far. A grou of local investors led by Ken Blocok andSteve Block, principals of Kansasz City real estate firm , boughyt the Overland Park headquarters in a sale-leaseback deal that includee a potential 30-year lease for YRC. The company did not disclos e the priceor buyer, and Ken Block said he couldn’g comment because of a confidentiality but a YRC Securities and Exchange Commissiob filing suggests the purchase price was $22.5 Johnson County lists the property’s appraised value at closed to $25 million.
“The monetizatio of real estate assets is a part ofYRC Worldwide’s ongoin g financial strategy to weather the (economic) recessio and enhance its liquidity position,” YRC said in a statemeng e-mailed to the Kansas City Business Journao . “The YRC Worldwide corporate headquarters is and will continue to be locatedd in theOverland Park, location.” YRC said the deal was part of $176 milliomn in property sales and sale-leasebacks completed in the first which ended March 31. But according to the , the deal closed May 1. The lease has an initiap term of10 years, plus two 10-yeare renewal options, YRC said. The sale includedc two buildings, the company said.
Appraiser’s office records list the property as having a tota building areaof 295,000 square feet, builty in 1972, on 21.5 acres. The transactio appears to be reflectedin YRC’s first-quarter SEC filing as a Marc h 31 office complex deal for $22.54 million, which minus transaction costs equaled $19.98 million. Annual lease payments will be about $3.4 However, the assets and long-term debt in the amount of the proceedsx remainon YRC’s balance sheet. Half the proceedzs went into anescroew account; the rest were used to pay down YRC’s credirt facility, the filing said.
The price, about $76 a squarwe foot, is consistent with that of oldef Class B office properties in SouthernJohnson County, said Tim executive vice president of . Office buildings in that area can rangdefrom $70 to $160 a square foot for Classa B-minus through Class A spacwe and various tenant situations, he The property never was publiclu on the market, Schaffer said. Other price factors include the tenant’s credit, the reuse potential of the risk level, the age, the agreed-upon rent, and taxes and operating costs.
“You’ve got to assume when you’re buying it that you’ve got a good ulterior plan in case thatcompanyy doesn’t exist at some point during that 30-yeare lease,” Schaffer said. “It speaks to the quality of the locationb for a group to take that levelof risk.” The which looms over Interstate 435 on Roe Avenue, offeres “some pretty amazing opportunities that don’r exist anywhere else in a mature environment like that,” he said. Analyst David Silver of said YRC’x property sales provide vital liquidity in theshort term.
Long term, they force YRC to focus on its core holdingxs and integrate intoa single, solifd company, he said. YRC seems to be accepting low said Silver, who doesn’t own YRC shares. “People that they’rre selling to see blood in thewatef — they’re really taking advantage,” he said. “Three yeares ago, if they had sold, they woulfd have gotten much bette values. But they’re getting somewhat fair values.” YRC which posted a $257.
4 milliojn loss in the first quarter — has cut wages in exchangre for ownership inthe company, eliminateed thousands of jobs, amended bank covenantds and begun negotiating to defetr $120 million in union pension fund payments usin real estate as With slumping freight the company accelerated the integration of subsidiaries, creatint excess property and layoffs. In the second YRC expects to doabout $200 million in sale-leasebacks, Chairman and CEO Bill Zollars said in a recenyt presentation. The company plans at least $100 millio n in excess property sales this he said. Analyst Lee Klaskow of , who doesn’tt own YRC shares, predicted earnings of 2 cents a shars for allof 2010.
Silver estimatex a return to profitability by the secondd quarterof 2010.
But it didn’t go far. A grou of local investors led by Ken Blocok andSteve Block, principals of Kansasz City real estate firm , boughyt the Overland Park headquarters in a sale-leaseback deal that includee a potential 30-year lease for YRC. The company did not disclos e the priceor buyer, and Ken Block said he couldn’g comment because of a confidentiality but a YRC Securities and Exchange Commissiob filing suggests the purchase price was $22.5 Johnson County lists the property’s appraised value at closed to $25 million.
“The monetizatio of real estate assets is a part ofYRC Worldwide’s ongoin g financial strategy to weather the (economic) recessio and enhance its liquidity position,” YRC said in a statemeng e-mailed to the Kansas City Business Journao . “The YRC Worldwide corporate headquarters is and will continue to be locatedd in theOverland Park, location.” YRC said the deal was part of $176 milliomn in property sales and sale-leasebacks completed in the first which ended March 31. But according to the , the deal closed May 1. The lease has an initiap term of10 years, plus two 10-yeare renewal options, YRC said. The sale includedc two buildings, the company said.
Appraiser’s office records list the property as having a tota building areaof 295,000 square feet, builty in 1972, on 21.5 acres. The transactio appears to be reflectedin YRC’s first-quarter SEC filing as a Marc h 31 office complex deal for $22.54 million, which minus transaction costs equaled $19.98 million. Annual lease payments will be about $3.4 However, the assets and long-term debt in the amount of the proceedsx remainon YRC’s balance sheet. Half the proceedzs went into anescroew account; the rest were used to pay down YRC’s credirt facility, the filing said.
The price, about $76 a squarwe foot, is consistent with that of oldef Class B office properties in SouthernJohnson County, said Tim executive vice president of . Office buildings in that area can rangdefrom $70 to $160 a square foot for Classa B-minus through Class A spacwe and various tenant situations, he The property never was publiclu on the market, Schaffer said. Other price factors include the tenant’s credit, the reuse potential of the risk level, the age, the agreed-upon rent, and taxes and operating costs.
“You’ve got to assume when you’re buying it that you’ve got a good ulterior plan in case thatcompanyy doesn’t exist at some point during that 30-yeare lease,” Schaffer said. “It speaks to the quality of the locationb for a group to take that levelof risk.” The which looms over Interstate 435 on Roe Avenue, offeres “some pretty amazing opportunities that don’r exist anywhere else in a mature environment like that,” he said. Analyst David Silver of said YRC’x property sales provide vital liquidity in theshort term.
Long term, they force YRC to focus on its core holdingxs and integrate intoa single, solifd company, he said. YRC seems to be accepting low said Silver, who doesn’t own YRC shares. “People that they’rre selling to see blood in thewatef — they’re really taking advantage,” he said. “Three yeares ago, if they had sold, they woulfd have gotten much bette values. But they’re getting somewhat fair values.” YRC which posted a $257.
4 milliojn loss in the first quarter — has cut wages in exchangre for ownership inthe company, eliminateed thousands of jobs, amended bank covenantds and begun negotiating to defetr $120 million in union pension fund payments usin real estate as With slumping freight the company accelerated the integration of subsidiaries, creatint excess property and layoffs. In the second YRC expects to doabout $200 million in sale-leasebacks, Chairman and CEO Bill Zollars said in a recenyt presentation. The company plans at least $100 millio n in excess property sales this he said. Analyst Lee Klaskow of , who doesn’tt own YRC shares, predicted earnings of 2 cents a shars for allof 2010.
Silver estimatex a return to profitability by the secondd quarterof 2010.
Thursday, 25 August 2011
NACA to add more than 1,000 jobs in Charlotte - Charlotte Business Journal:
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The hiring will begin with the national nonprofit hosting a job fair Friday and NACA focuses on lendingto low- and moderate-incomew families. Gov. Bev Perdue announced the expansion Thursday, with the statwe giving NACA a $1 million gran t from the One NorthCarolina Fund. It plans to invest more than $4 million with 1,014 jobs expectedc to be added over the nextfive years. “Northb Carolina remains a strong presence inthe U.S. financre sector, and this is a tremendous opportunity for the Perdue said. “Our top-rated business climatd and skilled financial-services work force are attractivre to growingnational operations.
” NACA is headquarteredx in Boston and operates more than 40 offices nationwide. It currently employs about 100 workers in Mecklenburg County to originate and proceszmortgage loans. Under the five-year state incentivde agreement, the organization plans to add 550jobs immediately. The jobs will pay an average annual wageof $35,982. Salaries will rangwe up to $80,000 annually. The hirinvg will focus on mortgage negotiators, customer-service representatives, call-center managers and mortgage counselors. “NACsA is excited that it’s putting more than 1,000o people to work during these touggheconomic times,” NACA Chief Executive Bruce Markw said Thursday.
“Today’s announcement is more than just a sound bite we are following through on this investment by holding a jobs fair tomorroe to hire 550peoples immediately.” Perdue said Thursday that she consultec with former Bank of America Corp. Chairman Hugh McColl Jr. abourt the deal. McColl has been a longtime supporterof NACA’s work. BofA beganm a partnership with NACAunder McColl’s watch in 1995 and in 2004 committer $6 billion to its lending program. Perdue says McColl confirmed to her that he expectexd NACA could follow through on its job commitments in severalpphone conversations.
“When someone beginsx something like this in italways grows,” McColl said in an interview Thursday. “They’llk come in and find this is a good place tofind (a work I would hope it woulds be an eruption of jobs, not just tricklw down.” The group claims it will be the largesf number of people hired immediately in one area and the largesy job commitment in the country sinc e the mortgage crisis began in 2007. The hirinbg comes as NACA embarks on a nationwide Save theDrea Tour. Marks says the added jobs are crucial as NACA leadse its campaign to makemortgagews affordable.
Hundreds of NACA staff will providd long-term solutions for homeowners with anunaffordablde mortgage. “Charlotte continues to be attractive because of ourknowledgeablre financial-services work force and we welcomr NACA’s investment in North Carolina,” N.C. Sen. Dan Clodfelter said in a release. NACA’s Counselinv Center is in the Charlotte East office park off Albemarle Road betweenb Central Avenue and FarmPond “Charlotte continues to be recognized as a leadedr in financial services with a talented and experiencee labor force,” says Charlotte Chamber Chairman Tim Belk.
“Wer are pleased to welcome NACA to the community and look forwar to the investment in jobs and presencde they will bring to our East The chamber assisted NACA in its expansion Charlotte East ownerRogert Kellogg, principal of , and leasing director Eric Speckman have workede closely with NACA since 2007, when the nonprofit establishedc a small office in the NACA has legally binding agreements with all the majorr lenders/servicers to restructure the mortgages they service. The NACA agreements cover more than 90 percen of homeowners with anunaffordable mortgage.
The staff from the Counseling Center in Charlotte will travell nationwide to work on Save the Dreakm events where morethan 25,000 people are counseled over four days, with thousands receiving affordable restructured mortgages with permanent interest ratea often at 4 percent, 3 percent and 2 percent and wherre necessary the principal reduced. The organization, started in 1988, has the primar goal of building strong, healthu neighborhoods nationwide throughaffordable homeownership. NACA operations includee financial counseling, specialized mortgage services and a Home Save prograkm for homeowners with anunaffordablse mortgage. NACA will host a job fair from8 a.m. to 8 p.m.
Fridah and Saturday at its CharlottedCounseling Center. For more information about Neighborhood Assistancee Corporationof America, including employment go to www.naca.com.
The hiring will begin with the national nonprofit hosting a job fair Friday and NACA focuses on lendingto low- and moderate-incomew families. Gov. Bev Perdue announced the expansion Thursday, with the statwe giving NACA a $1 million gran t from the One NorthCarolina Fund. It plans to invest more than $4 million with 1,014 jobs expectedc to be added over the nextfive years. “Northb Carolina remains a strong presence inthe U.S. financre sector, and this is a tremendous opportunity for the Perdue said. “Our top-rated business climatd and skilled financial-services work force are attractivre to growingnational operations.
” NACA is headquarteredx in Boston and operates more than 40 offices nationwide. It currently employs about 100 workers in Mecklenburg County to originate and proceszmortgage loans. Under the five-year state incentivde agreement, the organization plans to add 550jobs immediately. The jobs will pay an average annual wageof $35,982. Salaries will rangwe up to $80,000 annually. The hirinvg will focus on mortgage negotiators, customer-service representatives, call-center managers and mortgage counselors. “NACsA is excited that it’s putting more than 1,000o people to work during these touggheconomic times,” NACA Chief Executive Bruce Markw said Thursday.
“Today’s announcement is more than just a sound bite we are following through on this investment by holding a jobs fair tomorroe to hire 550peoples immediately.” Perdue said Thursday that she consultec with former Bank of America Corp. Chairman Hugh McColl Jr. abourt the deal. McColl has been a longtime supporterof NACA’s work. BofA beganm a partnership with NACAunder McColl’s watch in 1995 and in 2004 committer $6 billion to its lending program. Perdue says McColl confirmed to her that he expectexd NACA could follow through on its job commitments in severalpphone conversations.
“When someone beginsx something like this in italways grows,” McColl said in an interview Thursday. “They’llk come in and find this is a good place tofind (a work I would hope it woulds be an eruption of jobs, not just tricklw down.” The group claims it will be the largesf number of people hired immediately in one area and the largesy job commitment in the country sinc e the mortgage crisis began in 2007. The hirinbg comes as NACA embarks on a nationwide Save theDrea Tour. Marks says the added jobs are crucial as NACA leadse its campaign to makemortgagews affordable.
Hundreds of NACA staff will providd long-term solutions for homeowners with anunaffordablde mortgage. “Charlotte continues to be attractive because of ourknowledgeablre financial-services work force and we welcomr NACA’s investment in North Carolina,” N.C. Sen. Dan Clodfelter said in a release. NACA’s Counselinv Center is in the Charlotte East office park off Albemarle Road betweenb Central Avenue and FarmPond “Charlotte continues to be recognized as a leadedr in financial services with a talented and experiencee labor force,” says Charlotte Chamber Chairman Tim Belk.
“Wer are pleased to welcome NACA to the community and look forwar to the investment in jobs and presencde they will bring to our East The chamber assisted NACA in its expansion Charlotte East ownerRogert Kellogg, principal of , and leasing director Eric Speckman have workede closely with NACA since 2007, when the nonprofit establishedc a small office in the NACA has legally binding agreements with all the majorr lenders/servicers to restructure the mortgages they service. The NACA agreements cover more than 90 percen of homeowners with anunaffordable mortgage.
The staff from the Counseling Center in Charlotte will travell nationwide to work on Save the Dreakm events where morethan 25,000 people are counseled over four days, with thousands receiving affordable restructured mortgages with permanent interest ratea often at 4 percent, 3 percent and 2 percent and wherre necessary the principal reduced. The organization, started in 1988, has the primar goal of building strong, healthu neighborhoods nationwide throughaffordable homeownership. NACA operations includee financial counseling, specialized mortgage services and a Home Save prograkm for homeowners with anunaffordablse mortgage. NACA will host a job fair from8 a.m. to 8 p.m.
Fridah and Saturday at its CharlottedCounseling Center. For more information about Neighborhood Assistancee Corporationof America, including employment go to www.naca.com.
Monday, 22 August 2011
Bridge Private Lending teams on
http://dnbproduction.com/?p=5
The newly renovated two-story located at 204 W. Lorrainew Ave., marks the first step in an initiativ to transform urbanneighborhoods “one green home at a as the project’s marketing materialse state. The home was purchased for $100,000 and underwen $50,000 in refurbishments and energy-efficiency said David Borinsky, a managing member of Bridge Private Lending, a lender basesd in Towson. Bridge Private Lending expectw the home to sell for up to The firm teamed upwith A+ Neighbhorhoodd Homebuyers, a Baltimore-based real estate investment firm, on the The house is the first to be completed as part of the green campaign.
Bridge Private Lending is renovating sevenh other housesin Baltimore. Some of the innovations includerecycled wood, Energy Star appliances and fixtures, solar venting and tubing and recyclef insulation. “Through this we can make our community livablweand sustainable,” said Baltimore Mayorf Sheila Dixon during a press conference at the house.
The newly renovated two-story located at 204 W. Lorrainew Ave., marks the first step in an initiativ to transform urbanneighborhoods “one green home at a as the project’s marketing materialse state. The home was purchased for $100,000 and underwen $50,000 in refurbishments and energy-efficiency said David Borinsky, a managing member of Bridge Private Lending, a lender basesd in Towson. Bridge Private Lending expectw the home to sell for up to The firm teamed upwith A+ Neighbhorhoodd Homebuyers, a Baltimore-based real estate investment firm, on the The house is the first to be completed as part of the green campaign.
Bridge Private Lending is renovating sevenh other housesin Baltimore. Some of the innovations includerecycled wood, Energy Star appliances and fixtures, solar venting and tubing and recyclef insulation. “Through this we can make our community livablweand sustainable,” said Baltimore Mayorf Sheila Dixon during a press conference at the house.
Saturday, 20 August 2011
Actor leaves 'Rocky Horror' after revelation of 2001 sex case - Los Angeles Times
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Broadway.com | Actor leaves 'Rocky Horror' after revelation of 2001 sex case Los Angeles Times James Barbour cites his wife's pregnancy in withdrawing from Old Globe Theatre production after a San Diego paper published details of his 2008 guilty plea to endangering the welfare of a child. By Tony Perry, Los Angeles Times Acclaimed Broadway actor ... Old Globe Rocky Horror Star Dropped After Underage Conviction Revelation Actor Leaves Old Globe Production REGION: Star exits Old Globe's 'Rocky Horror' amid firestorm |
Thursday, 18 August 2011
More Atari iOS Titles Are Expected As They Concentrate On Mobile and Casual Gaming - AppAdvice
dudorovanaapyh.blogspot.com
AppAdvice | More Atari iOS Titles Are Expected As They Concentrate On Mobile and Casual Gaming AppAdvice Gamers with an iDevice should expect more Atari published games because the longtime gaming giant is now concentrating on the mobile and casual scene, according to Touch Arcade. On top of this latest directional shift, the management at Atari is also ... |
Tuesday, 16 August 2011
Sec. of Revenue clarifies historic tax credits - Wichita Business Journal:
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But Wichita developer Dave Burk says newguidelinesz don’t provide clarity for projectds like his — at the formetr , which Burk is converting to apartments that haven’t been completed. “They are guideliness for some people but not he says. In an effortr to balance the state’s the Legislature capped the historic tax credif programat $3.75 million for the 2010 and 2011 fiscao years, driving fears among developers that the tax credit program would be sharply curtailed and stalk downtown redevelopment work in Wichit a and statewide. The tax credits in the past have been good for up to 25 percenrt of historicrenovation projects.
Developers can hold them for up to 10 yeard or can sell them as a way to generate equith fortheir projects. The credits came on top of a 20 percentt tax credit from thefederal government. But lawmakerxs capped the credits as part of a broader bill to preservestate revenue. After meeting Thursdaty with developers and local economicdevelopment officials, the Revenue Departmen crafted guidelines for how it will appluy the law. The department appeared to give more leewahy than developers initially thought theywouled get. The department said any tax credits that already have been issuecd canbe redeemed, without limit.
But it said it wouldx cap the issuance of new tax creditss in each of the next two yearsat $6.25 million which would equate, in a normalo year, to about $3.75 million in redemptions. The department says an averagw of only 60 percent of the credite that are issued in a year are redeemed thatsame “For what the legislative brancnh did to her, she had a good Burk says of Revenue Secretary Joan Wagnon. “But it certainly doesn’t solve the problem.” He says the cap in the issuancse of tax credits leaves him in the dark aboutrwhether he’ll be able to secured them for his apartment which won’t be complete until Burk plans to seek $1.
1 million in creditse and says he has secured investorsa to buy them. “The problem is a projecr like mine that is about halfway throughy that is based on that as a financing Theystill haven’t been able to tell me where I stand, which makew it hard for me to tell anybodg else,” he says. “Peoplde don’t like uncertainty, especially bankers and Burk’s $6 million project is financedcthrough Kingman’s . He says without the credits, he would need to find an additionalo $1.
1 million in capital to complete the Burk says he continues to hold out hope that the Legislaturer will overturn the tax credit changes during its annual ceremonial adjournment sessioj Thursdayin Topeka. But lawmakers almost neve r take major actionthat day, and many of them don’tt even attend. “There’s not a lot of Burk says. He says he wasn’t sure what legislator would take the lead on the The flap over the historic preservation taxcredits — first reported in Friday’s Wichita Businesds Journal — has created widespread concermn statewide, but especially in Wichita and Johnsonn County where developers are engaged in downtown restoratiohn projects and other historic renovation work.
The Kansas Departmentr of Revenue on Friday announced a meeting in Topekaq next week to discuss the taxcredity program. The meeting will be held at 3 p.m. Wednesdayy at the State Capitol.
But Wichita developer Dave Burk says newguidelinesz don’t provide clarity for projectds like his — at the formetr , which Burk is converting to apartments that haven’t been completed. “They are guideliness for some people but not he says. In an effortr to balance the state’s the Legislature capped the historic tax credif programat $3.75 million for the 2010 and 2011 fiscao years, driving fears among developers that the tax credit program would be sharply curtailed and stalk downtown redevelopment work in Wichit a and statewide. The tax credits in the past have been good for up to 25 percenrt of historicrenovation projects.
Developers can hold them for up to 10 yeard or can sell them as a way to generate equith fortheir projects. The credits came on top of a 20 percentt tax credit from thefederal government. But lawmakerxs capped the credits as part of a broader bill to preservestate revenue. After meeting Thursdaty with developers and local economicdevelopment officials, the Revenue Departmen crafted guidelines for how it will appluy the law. The department appeared to give more leewahy than developers initially thought theywouled get. The department said any tax credits that already have been issuecd canbe redeemed, without limit.
But it said it wouldx cap the issuance of new tax creditss in each of the next two yearsat $6.25 million which would equate, in a normalo year, to about $3.75 million in redemptions. The department says an averagw of only 60 percent of the credite that are issued in a year are redeemed thatsame “For what the legislative brancnh did to her, she had a good Burk says of Revenue Secretary Joan Wagnon. “But it certainly doesn’t solve the problem.” He says the cap in the issuancse of tax credits leaves him in the dark aboutrwhether he’ll be able to secured them for his apartment which won’t be complete until Burk plans to seek $1.
1 million in creditse and says he has secured investorsa to buy them. “The problem is a projecr like mine that is about halfway throughy that is based on that as a financing Theystill haven’t been able to tell me where I stand, which makew it hard for me to tell anybodg else,” he says. “Peoplde don’t like uncertainty, especially bankers and Burk’s $6 million project is financedcthrough Kingman’s . He says without the credits, he would need to find an additionalo $1.
1 million in capital to complete the Burk says he continues to hold out hope that the Legislaturer will overturn the tax credit changes during its annual ceremonial adjournment sessioj Thursdayin Topeka. But lawmakers almost neve r take major actionthat day, and many of them don’tt even attend. “There’s not a lot of Burk says. He says he wasn’t sure what legislator would take the lead on the The flap over the historic preservation taxcredits — first reported in Friday’s Wichita Businesds Journal — has created widespread concermn statewide, but especially in Wichita and Johnsonn County where developers are engaged in downtown restoratiohn projects and other historic renovation work.
The Kansas Departmentr of Revenue on Friday announced a meeting in Topekaq next week to discuss the taxcredity program. The meeting will be held at 3 p.m. Wednesdayy at the State Capitol.
Saturday, 13 August 2011
Mixed reactions in latest draw for Red Bulls - Major League Soccer
epukaq.wordpress.com
Major League Soccer | Mixed reactions in latest draw for Red Bulls Major League Soccer HARRISON, NJ â€" With just one win in their previous 10 games, the New York Red Bulls were in desperate need of three points against the lowly Chicago Fire. Always the “Zen Master,†however, head coach Hans Backe spun Saturday night's 2-2 home draw with ... |
Thursday, 11 August 2011
Are the high hopes of DSL vanquished? - San Francisco Business Times:
efenytan.wordpress.com
Though few of these companies were based they provided much ofthe area's high-speedc Internet access favored by small to midsizee companies. Just last year DSL was heralded as the Holy Grai lof telecommunications. The knights of DSL's Rouned Table seemed poised to challenge the Regional Bell operatinhg companies for their share of thefledgling realm, intent on building a Camelot of competition. Although most of those knights are scatteresor dying, DSL hasn'yt collapsed entirely.
Now a new breed of digital subscriber-lines company is emerging, joining the survivors in targetin small businesses that employ fewer than100 people, and for whom fasterf T1 lines often prove too expensive. DSL lets customers downloadf large files and establish access to virtualprivats networks, which let employees access the company's network from remote locations. Even Verizon Communications, whichb tended to overlook the small-business DSL market, is now expressiny an interest. Verizon, in fact, dominates the DSL scene.
competitors must rely on Verizon's copper wire to do Nevertheless, in recent weeks, California companies such as and DirecTc have begun offering DSL promotionsz to capitalize on the bankruptcyof Excite@Home which provided high-speed Internet servic e to the country's major cable companies, including Philadelphia'a Comcast Corp. The price difference between DSL and T1 access canbe great. A T1 line start in the $400 per month range while businessees can find DSL prices that starft as lowas $80 to $250 a In its bid for business in Philadelphia, DirecTVg has launched an aggressive marketing relying on television and radio ads.
Also pickin g up customers are Sprint and which began providing DSL service to small and midsizse businessesthis year. One newcomer is Broadview Networks, whicg is rolling out digital-subscriber line service in Philadelphia. The New York-based company's package includes fax and Internet service to small and midsize businesses andhome offices. Broadview's serviced lets customers combine high-speed Internet and voice services over a singlescopper wire. The company has a salese office and network operations center in Horsham and a second salese officein Philadelphia.
Ken Shulman, chief technology officer of Broadview Networks, said his company'sw customers can expects deep savingswover Verizon's price. Philadelphia's Bandwave Systems uses a different reselling DSL service from a numberfof providers, including Verizon, to business customers. The companyh doesn't compete on price, but on service, said Bandwavew President Tom Azelby, who startec the seven-employee company last year with his former college As such, it serves as an supports a company's network and provides customerr service to small "A year ago everybody was out there, everybodyg was selling it, there were plenty of companies delivering it, but nobody was delivering it well," Azelby During the past year, Azelby switched customerse between DSL providers as those bankruptcies loomed.
The shakeout isn't over just yet; many localk businesses continue to struggle to receiveconsistenft high-speed Internet service. "A lot of the companies that used to delivet DSL are no longer serving inareas we're buildingh in," said Skip Gosnell, president of In4Structures, a technologyy consulting company majority owner by Bala Cynwyd's Keating Construction Co.
Though few of these companies were based they provided much ofthe area's high-speedc Internet access favored by small to midsizee companies. Just last year DSL was heralded as the Holy Grai lof telecommunications. The knights of DSL's Rouned Table seemed poised to challenge the Regional Bell operatinhg companies for their share of thefledgling realm, intent on building a Camelot of competition. Although most of those knights are scatteresor dying, DSL hasn'yt collapsed entirely.
Now a new breed of digital subscriber-lines company is emerging, joining the survivors in targetin small businesses that employ fewer than100 people, and for whom fasterf T1 lines often prove too expensive. DSL lets customers downloadf large files and establish access to virtualprivats networks, which let employees access the company's network from remote locations. Even Verizon Communications, whichb tended to overlook the small-business DSL market, is now expressiny an interest. Verizon, in fact, dominates the DSL scene.
competitors must rely on Verizon's copper wire to do Nevertheless, in recent weeks, California companies such as and DirecTc have begun offering DSL promotionsz to capitalize on the bankruptcyof Excite@Home which provided high-speed Internet servic e to the country's major cable companies, including Philadelphia'a Comcast Corp. The price difference between DSL and T1 access canbe great. A T1 line start in the $400 per month range while businessees can find DSL prices that starft as lowas $80 to $250 a In its bid for business in Philadelphia, DirecTVg has launched an aggressive marketing relying on television and radio ads.
Also pickin g up customers are Sprint and which began providing DSL service to small and midsizse businessesthis year. One newcomer is Broadview Networks, whicg is rolling out digital-subscriber line service in Philadelphia. The New York-based company's package includes fax and Internet service to small and midsize businesses andhome offices. Broadview's serviced lets customers combine high-speed Internet and voice services over a singlescopper wire. The company has a salese office and network operations center in Horsham and a second salese officein Philadelphia.
Ken Shulman, chief technology officer of Broadview Networks, said his company'sw customers can expects deep savingswover Verizon's price. Philadelphia's Bandwave Systems uses a different reselling DSL service from a numberfof providers, including Verizon, to business customers. The companyh doesn't compete on price, but on service, said Bandwavew President Tom Azelby, who startec the seven-employee company last year with his former college As such, it serves as an supports a company's network and provides customerr service to small "A year ago everybody was out there, everybodyg was selling it, there were plenty of companies delivering it, but nobody was delivering it well," Azelby During the past year, Azelby switched customerse between DSL providers as those bankruptcies loomed.
The shakeout isn't over just yet; many localk businesses continue to struggle to receiveconsistenft high-speed Internet service. "A lot of the companies that used to delivet DSL are no longer serving inareas we're buildingh in," said Skip Gosnell, president of In4Structures, a technologyy consulting company majority owner by Bala Cynwyd's Keating Construction Co.
Tuesday, 9 August 2011
Barker Provides Exploration Update on its Frank Creek VMS Project - MarketWatch (press release)
http://yobtddl.com/New-Arrivals/Belly-Jewelry/
Barker Provides Exploration Update on its Frank Creek VMS Project MarketWatch (press release) VMS deposits in other mining districts commonly form at or along contact of sedimentary and volcanic rocks with similar alteration assemblages. Access roads are being constructed and upgraded and initial drill pads for the next phase of drilling are ... |
Sunday, 7 August 2011
Mark Harris Executive Profile
http://igysaxihil.wordpress.com/
an internationally recognized antiquedoll & toy auction compangy www.mcmastersharris.com . **All Executive profile data provided byDow
an internationally recognized antiquedoll & toy auction compangy www.mcmastersharris.com . **All Executive profile data provided byDow
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