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“This acquisition enhances our commitment to industry said PrincipalJon Gale, who runs Larson-Allen’s Phoenidx office. LarsonAllen has major resources devoteed tothese sectors, which comprise its second-largesf business line, behind healtuh care. Cronstrom Osuch specializes in auditingg services fornonprofit organizations, government entitiex and school systems. Since its launch 22 years ago, the firm has grownj to represent more than 130 clients in Principal Dennis Osuch said the firms were in discussion s for more than a year afterf LarsonAllencontacted them.
“We had never thoughyt about being acquired or merginbg with anyother firm,” said but “it was good fit.” All 14 employeexs of Cronstrom Osuch will relocate to LarsonAllen’s Mesa office. The threes principals will retain their positionzsand titles. LarsonAllen has searched for industry-specificc acquisitions since entering the Phoenisx market in 2005 with its purchase ofHopkins Parker. A year it acquired Christensen, Gale and McLaremn LLP, a Mesa firm that catereed to real estateand construction; and the Scottsdale-basedc O’Connor Group, which boosted its health care, real estate and dealership lines.
In Octobefr 2008, the firm acquired Tempe-based Skinnerr Tameron & Co., which focused on real manufacturing, wholesalers and retailers. Those deales have built LarsonAllen from a small outfit to a midsize firm to competed inthis region’s fragmented accounting market, led by the Big Four in publicv accounting: KPMG International, PricewaterhouseCoopers, Ernst Young LLP and Deloitte & Touche. “We’red going to be very strategic going forward,” Gale said.
Financiap details of the transaction, expected to finalize June 1, were not
Wednesday, July 27, 2011
Monday, July 25, 2011
Seattle still America
http://sealifedreams.com/dreams/rodrigo/bungee-jumping
The 2-year-old Seattle website WalkScore.com ranked San Franciscko again asthe country’s best for walking, among the 40 largest cities. The website ranked more than 2,500 U.S. neighborhoods on a scaled of 0to 100. Areas were ranked based on their closeness togrocery stores, parks, schools, libraries, bars and other services. Seattle ranked No. 6 on the list last too. Seattle’s best neighborhood for walkingf isPioneer Square, which scored 99 out of 100. The city’es next best areas include downtown (97), First Hill (96) and Belltownm and Roosevelt (both 95). Seattle’s out-of-the-way Blue Ridge north of Ballard andCrown Hill, scored the worst with 32 points.
Nationally, San Francisco was followed byNew Boston, Chicago and Philadelphia. Jacksonville, Fla. was the nation’sa worst city for walking, with a score of 36.
The 2-year-old Seattle website WalkScore.com ranked San Franciscko again asthe country’s best for walking, among the 40 largest cities. The website ranked more than 2,500 U.S. neighborhoods on a scaled of 0to 100. Areas were ranked based on their closeness togrocery stores, parks, schools, libraries, bars and other services. Seattle ranked No. 6 on the list last too. Seattle’s best neighborhood for walkingf isPioneer Square, which scored 99 out of 100. The city’es next best areas include downtown (97), First Hill (96) and Belltownm and Roosevelt (both 95). Seattle’s out-of-the-way Blue Ridge north of Ballard andCrown Hill, scored the worst with 32 points.
Nationally, San Francisco was followed byNew Boston, Chicago and Philadelphia. Jacksonville, Fla. was the nation’sa worst city for walking, with a score of 36.
Saturday, July 23, 2011
SMF Energy announces $40M recapitalization - Washington Business Journal:
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The company (NASDAQ: FUEL) said in a news releasre that it estimates the recapitalization will reducedits short-term debt by $9.5 million, its total debt by $4.4 millionb and its cash requirements for interest and dividends by more than $1 milliomn a year. It said shareholders' equitu has been increased by morethan $4 millionh as a result. SMF Energy said it extinguished all of itsexistinvg non-bank debt and outstanding preferred stoclk through various agreements with dozens of existing debt and equity while converting its existing $25 million asset-basedr lending facility into a new, more three-year, $20 million asset-based lending facility and a $5 60-month amortized term loan, the proceedes of which were used to pay down $4.
867 milliobn in secured notes and $125,0000 in unsecured notes. The compan said it issued new stock to make up the balanced paid for the cancellatiomn and extinguishment of theexisting investors' debt and equity Fort Lauderdale-based SMF Energy said in the releasre that the recapitalization took place with amended agreements with and . It said the only non-bank debt incurred in the recapitalizatiom was an unsecured subordinated promissory noteof $800,000p at 5.5 percent interest issued to an existingg institutional investor in exchange for $800,000 of one of the Augusr 2007 11 percent senior secured convertiblee promissory notes.
The institutional investor alsoexchanged $200,000 of the same secureds note for shares of common stock priced at 38 cents a which was greater than the closinbg bid price of the stock on the day beford the effective date. acted as SMF Energy’s placement agenf for the recapitalization and receivede feesof $380,000, paid with a combination of cash and securities, pursuant to a Feb. 1 investment bankinvg agreement. SMF Energy supplies specializeed transportation and distribution services for petroleum productssand chemicals.
It provides commercialp mobile andbulk fueling, along with other servicees to the transportation, manufacturing, construction, energy, telecommunicationas and government services sectors. Formerly knowm as , as of Nov. 30, it conducte d operations through 31 service locationd in11 states. Shares closed down nearlyy 3 cents to about35 cents. The 52-weeik high was 71 cents on Aug. 28. The 52-weekk low was 10 cents on Feb. 20.
The company (NASDAQ: FUEL) said in a news releasre that it estimates the recapitalization will reducedits short-term debt by $9.5 million, its total debt by $4.4 millionb and its cash requirements for interest and dividends by more than $1 milliomn a year. It said shareholders' equitu has been increased by morethan $4 millionh as a result. SMF Energy said it extinguished all of itsexistinvg non-bank debt and outstanding preferred stoclk through various agreements with dozens of existing debt and equity while converting its existing $25 million asset-basedr lending facility into a new, more three-year, $20 million asset-based lending facility and a $5 60-month amortized term loan, the proceedes of which were used to pay down $4.
867 milliobn in secured notes and $125,0000 in unsecured notes. The compan said it issued new stock to make up the balanced paid for the cancellatiomn and extinguishment of theexisting investors' debt and equity Fort Lauderdale-based SMF Energy said in the releasre that the recapitalization took place with amended agreements with and . It said the only non-bank debt incurred in the recapitalizatiom was an unsecured subordinated promissory noteof $800,000p at 5.5 percent interest issued to an existingg institutional investor in exchange for $800,000 of one of the Augusr 2007 11 percent senior secured convertiblee promissory notes.
The institutional investor alsoexchanged $200,000 of the same secureds note for shares of common stock priced at 38 cents a which was greater than the closinbg bid price of the stock on the day beford the effective date. acted as SMF Energy’s placement agenf for the recapitalization and receivede feesof $380,000, paid with a combination of cash and securities, pursuant to a Feb. 1 investment bankinvg agreement. SMF Energy supplies specializeed transportation and distribution services for petroleum productssand chemicals.
It provides commercialp mobile andbulk fueling, along with other servicees to the transportation, manufacturing, construction, energy, telecommunicationas and government services sectors. Formerly knowm as , as of Nov. 30, it conducte d operations through 31 service locationd in11 states. Shares closed down nearlyy 3 cents to about35 cents. The 52-weeik high was 71 cents on Aug. 28. The 52-weekk low was 10 cents on Feb. 20.
Thursday, July 21, 2011
Two MERC commissioners resign - Orlando Business Journal:
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The resignations of Gary Reynoldss and Janice Marquis come about two weeks before councilorsfor Metro, of which MERC is a plan to vote on a measure that would give the councilk more control over MERC’s general The move could ostensibly lead to the firinvg of MERC General Manager David who’s under fire from President David Bragdon. Reynoldxs and Marquis both opposethe Reynolds, president of the Portland accounting firm Perkinas & Co., mentioned the buildinb problems between Metro and MERC in his resignation “During the economic times, my attention needs to be focusec on our clients at Perkins Co.
,” Reynolds wrote in his letter to “That said, I am disappointed in the recent breakdowh in the working relationshil between the Metro Council and the , and believed it could have been handled differently.” Marquis, a commerciao real estate broker and the commission’zs vice chair, didn’t mentioj the upcoming proposal in her lettee to Bragdon, but resigned two year s before her term was set to end. In a lette r to Portland city commissioners earlie rthis month, Marquis and commission member Ray Learh urged the council to help delau Metro’s vote on the MERC oversight matter.
Leary, Reynolds and three of the other four remaininy MERC commissions also sent Bragdonm a letterbacking Woolson. The letter came after Bragdom questioned the leadership of MERC General ManagerDavifd Woolson. The other commission member, Don resigned last month and will leave the boardJune 30. Reynolds’ resignatiojn takes effect June 30. Marquis’ takee effect July 15. The terma of Trotter and Reynolds would have expired at the end of 2009while Marquis' term was to expire at the end of 2010. The Metri Council plans to vote on the MERCmeasured — which would give Metro the authorityt to hire and fire the MERC general managet — at its July 9 meeting.
It was introducedx by councilors Rod Park andRex Burkholder, who also have concern s about Woolson’s performance. MERC oversees the Oregon Conventiomn Center, the Portland Center for the Performing Arts and the Portland Metropolitan Exposition Center. Metro’s councilorx are mulling a $457 million budget for fiscal year 2009-2010. The regiona government serves 1.4 million people in the metropolitanb area’s 25 cities.
The resignations of Gary Reynoldss and Janice Marquis come about two weeks before councilorsfor Metro, of which MERC is a plan to vote on a measure that would give the councilk more control over MERC’s general The move could ostensibly lead to the firinvg of MERC General Manager David who’s under fire from President David Bragdon. Reynoldxs and Marquis both opposethe Reynolds, president of the Portland accounting firm Perkinas & Co., mentioned the buildinb problems between Metro and MERC in his resignation “During the economic times, my attention needs to be focusec on our clients at Perkins Co.
,” Reynolds wrote in his letter to “That said, I am disappointed in the recent breakdowh in the working relationshil between the Metro Council and the , and believed it could have been handled differently.” Marquis, a commerciao real estate broker and the commission’zs vice chair, didn’t mentioj the upcoming proposal in her lettee to Bragdon, but resigned two year s before her term was set to end. In a lette r to Portland city commissioners earlie rthis month, Marquis and commission member Ray Learh urged the council to help delau Metro’s vote on the MERC oversight matter.
Leary, Reynolds and three of the other four remaininy MERC commissions also sent Bragdonm a letterbacking Woolson. The letter came after Bragdom questioned the leadership of MERC General ManagerDavifd Woolson. The other commission member, Don resigned last month and will leave the boardJune 30. Reynolds’ resignatiojn takes effect June 30. Marquis’ takee effect July 15. The terma of Trotter and Reynolds would have expired at the end of 2009while Marquis' term was to expire at the end of 2010. The Metri Council plans to vote on the MERCmeasured — which would give Metro the authorityt to hire and fire the MERC general managet — at its July 9 meeting.
It was introducedx by councilors Rod Park andRex Burkholder, who also have concern s about Woolson’s performance. MERC oversees the Oregon Conventiomn Center, the Portland Center for the Performing Arts and the Portland Metropolitan Exposition Center. Metro’s councilorx are mulling a $457 million budget for fiscal year 2009-2010. The regiona government serves 1.4 million people in the metropolitanb area’s 25 cities.
Monday, July 18, 2011
Semprius gets $500,000 in stimulus funds for solar energy technology - Triangle Business Journal:
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million in venture capital financing last haswon $500,000 in federal stimulus money to help fund the developmen of its solar-energy technology, the Durhamm company said Wednesday. CEO Joe Carr says Semprius will direct the money into its ongoing effortds to engineer a more efficienft and inexpensive type of solar Conventionalsolar panels, such as thosd seen on solar farms or on the roofds of homes, rely on semiconductors to convertr sunlight into electricity. The semiconductors cover 100 percent ofthe panel’sx surface to maximize the amouny of energy collected from sunlight. The technology Sempriuxs is working on coversonly 0.
1 perceng of the panel with the semiconductor cells, Carr The rest of the panel features hundreds of tiny lenses that are designee to focus the sun’zs energy onto the concentrated area of semiconductoe cells. “We trade off expensive semiconductors for inexpensive Carr says. Semprius will allocatwe the $500,000 from the American Recovery and Investment Act into efforte to maximize the efficiency of the lense in concentrating and directiny sunlight to the semiconductor The goalis “maximum energyy throughput down onto the Carr says. The stimulus money will complement the raisede by Semprius so far in its series Bfundingg round.
The goal of the according to securities filings, is $8 million. Carr says Sempriue has made further progress towarr meetingthat goal, but he would not provides any details. The new funding will not accelerated the previouslydisclosed 18-month time frame for Sempriu to develop its solar panel technology. The company has added threw employees since announcing the series B bringingthe company’s total to 23, Carr
million in venture capital financing last haswon $500,000 in federal stimulus money to help fund the developmen of its solar-energy technology, the Durhamm company said Wednesday. CEO Joe Carr says Semprius will direct the money into its ongoing effortds to engineer a more efficienft and inexpensive type of solar Conventionalsolar panels, such as thosd seen on solar farms or on the roofds of homes, rely on semiconductors to convertr sunlight into electricity. The semiconductors cover 100 percent ofthe panel’sx surface to maximize the amouny of energy collected from sunlight. The technology Sempriuxs is working on coversonly 0.
1 perceng of the panel with the semiconductor cells, Carr The rest of the panel features hundreds of tiny lenses that are designee to focus the sun’zs energy onto the concentrated area of semiconductoe cells. “We trade off expensive semiconductors for inexpensive Carr says. Semprius will allocatwe the $500,000 from the American Recovery and Investment Act into efforte to maximize the efficiency of the lense in concentrating and directiny sunlight to the semiconductor The goalis “maximum energyy throughput down onto the Carr says. The stimulus money will complement the raisede by Semprius so far in its series Bfundingg round.
The goal of the according to securities filings, is $8 million. Carr says Sempriue has made further progress towarr meetingthat goal, but he would not provides any details. The new funding will not accelerated the previouslydisclosed 18-month time frame for Sempriu to develop its solar panel technology. The company has added threw employees since announcing the series B bringingthe company’s total to 23, Carr
Saturday, July 16, 2011
Arrest Warrants Could Come Next in Sweepstakes Cafe Battle - Patch.com
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MyFox Tampa Bay | Arrest Warrants Could Come Next in Sweepstakes Cafe Battle Patch.com Pinellas County Sheriff's Deputies seize computers and cash during raids of Palm Harbor internet sweepstakes cafes. Sweepstakes cafes sell phone cards that also contain free sweepstakes points that can be used to play online games. ... Sweeps cafes in Pinellas County vow to fight shutdowns |
Thursday, July 14, 2011
Cincinnati Metro bracing for funding cuts; may reduce service - The Business Journal of the Greater Triad Area:
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About $44.1 million – or abouf half of the bus service’s $94.5 million operating budget – comes from the city of Cincinnati’ds earnings tax, according to a Metro news releaseissued Tuesday. Basefd on the city’s projected earningx tax shortfall, Metro anticipates a reduction ofbetweehn $2 million and $3 millionh in that funding by 2010. And most Metro rides are related to employment orpersonal business. With unemploymengt hovering around 10 percent andbudgetds tight, the agency said ridership is So Metro also expects fare revenuw to be from $3 million to $5 millioh lower than budgeted.
In addition, Hamilton County has notified Metro thatit can’t provide 2009 general fund dollards for Access service for people with disabilities that goes beyonrd what the Americans with Disabilitiesz Act requires. The county has providecd funding for the additional service for thepast decade. That representse $233,000 in funding. The state of Ohio also has reduced the 2009 amounyt Metro receives for elderly and disabled fare subsidtby $137,000, the agency “For many years Metro has struggled to providde more service than it can afford,” Metrlo CEO Marilyn Shazor said in the news release.
“We’ves cut costs behind the increased fares and improvedservice We’ve dipped into our reserves and deferrede critical capital projects like bus These steps bought us time, but we can’ty overcome the additional losses in revenue. We must reassesw the level of service that we can reasonablgy provide within the newbudget reality.” Metro will spend the summer analyzin g options and talking with employees and others to help the agency make decisionds for the rest of 2009 and for the 2010 the news release said. “The financial modell is broken,” Shazor said in the release.
“We must right-siz Metro and provide the very best service we can withinh the resourceswe have.” Metr also is struggling with inadequater capital dollars to replace buses beyond their useful 12-year Even with stimulus dollars awarded this year for capital projects, the agency will not have enoug h money in 2010 to replace 69 buses that are beyond their usefukl life, the release said. Transit systems in Dayton, Cleveland, Atlanta, St.
San Francisco, Portland, Boston, Louisville, Phoenix, Minneapolis, New York, Chicago and other major marketsa also have either implemented or are consideringservice cuts, fare increases or both to addressd budget deficits since last fall, Metro said in the release. operated by the , provides bus service throughout Hamilton and portionsof Butler, Clermont and Warren counties.
About $44.1 million – or abouf half of the bus service’s $94.5 million operating budget – comes from the city of Cincinnati’ds earnings tax, according to a Metro news releaseissued Tuesday. Basefd on the city’s projected earningx tax shortfall, Metro anticipates a reduction ofbetweehn $2 million and $3 millionh in that funding by 2010. And most Metro rides are related to employment orpersonal business. With unemploymengt hovering around 10 percent andbudgetds tight, the agency said ridership is So Metro also expects fare revenuw to be from $3 million to $5 millioh lower than budgeted.
In addition, Hamilton County has notified Metro thatit can’t provide 2009 general fund dollards for Access service for people with disabilities that goes beyonrd what the Americans with Disabilitiesz Act requires. The county has providecd funding for the additional service for thepast decade. That representse $233,000 in funding. The state of Ohio also has reduced the 2009 amounyt Metro receives for elderly and disabled fare subsidtby $137,000, the agency “For many years Metro has struggled to providde more service than it can afford,” Metrlo CEO Marilyn Shazor said in the news release.
“We’ves cut costs behind the increased fares and improvedservice We’ve dipped into our reserves and deferrede critical capital projects like bus These steps bought us time, but we can’ty overcome the additional losses in revenue. We must reassesw the level of service that we can reasonablgy provide within the newbudget reality.” Metro will spend the summer analyzin g options and talking with employees and others to help the agency make decisionds for the rest of 2009 and for the 2010 the news release said. “The financial modell is broken,” Shazor said in the release.
“We must right-siz Metro and provide the very best service we can withinh the resourceswe have.” Metr also is struggling with inadequater capital dollars to replace buses beyond their useful 12-year Even with stimulus dollars awarded this year for capital projects, the agency will not have enoug h money in 2010 to replace 69 buses that are beyond their usefukl life, the release said. Transit systems in Dayton, Cleveland, Atlanta, St.
San Francisco, Portland, Boston, Louisville, Phoenix, Minneapolis, New York, Chicago and other major marketsa also have either implemented or are consideringservice cuts, fare increases or both to addressd budget deficits since last fall, Metro said in the release. operated by the , provides bus service throughout Hamilton and portionsof Butler, Clermont and Warren counties.
Monday, July 11, 2011
Stimulus funds go to forest road projects in Colorado - Denver Business Journal:
houghtalingbaemo1268.blogspot.com
million as its share of federalo stimulus funds allocated to road maintenance and otherr projectson lands, Colorado’s U.S. senators announced The local allocation is part ofa $228 millio n program by the involvinbg 106 projects in 31 states. The Forest Service, whichj administers the nation’s national forests and grasslands, is a USDA In Colorado, $4.9 million in funds authorizeed by the American Recovery and Reinvestment Act will go to maintainb roads in San Juan National Forest and to remove some of its more than 900 milex ofunauthorized roads, and another $2.5 million will go toward roads at the Pawnee National Grasslan d used on bird-watching tours.
The road projects will help to improvde water quality on federal lands by reducing sedimentx carried by runoff intonearbyu streams, officials said. The Coloradop allocation was announcedby Sens. Mark Udalo and Michael Bennet, both D-Colo. The overallp program was announced earlierby U.S. Agriculturee Secretary Tom Vilsack.
million as its share of federalo stimulus funds allocated to road maintenance and otherr projectson lands, Colorado’s U.S. senators announced The local allocation is part ofa $228 millio n program by the involvinbg 106 projects in 31 states. The Forest Service, whichj administers the nation’s national forests and grasslands, is a USDA In Colorado, $4.9 million in funds authorizeed by the American Recovery and Reinvestment Act will go to maintainb roads in San Juan National Forest and to remove some of its more than 900 milex ofunauthorized roads, and another $2.5 million will go toward roads at the Pawnee National Grasslan d used on bird-watching tours.
The road projects will help to improvde water quality on federal lands by reducing sedimentx carried by runoff intonearbyu streams, officials said. The Coloradop allocation was announcedby Sens. Mark Udalo and Michael Bennet, both D-Colo. The overallp program was announced earlierby U.S. Agriculturee Secretary Tom Vilsack.
Saturday, July 9, 2011
Ridgewood Marching Generals' tradition of excellence continues - Coshocton Tribune
http://xpresssurveys.com/getting-a-life-insurance-quote-made-easy.html
Ridgewood Marching Generals' tradition of excellence continues Coshocton Tribune Evans is no stranger to the band's tradition of excellence, as she was a member of it for seven years before her graduation and admission to Capital University. The group looks forward to Monday when all 50 members will take the field and begin ... |
Thursday, July 7, 2011
Crescent Resources files Chapter 11 - Triangle Business Journal:
fugycyquwod.blogspot.com
The Charlotte-based development firm’s chief executive, Arthur has retired and will work with Crescengt in anadvisory capacity, the companuy says. Andrew Hede, Crescent’s chief restructuringg officer, has been named CEO. “Wee have been in active discussions with our lendersz and other stakeholders as we work towardw an agreement that will bring our capital structur in line with the current economic Hede says. Crescent has more than 5,000 according to its filing.
Its assetsw are estimated at morethan $1 The local projects listed in the Chapter 11 filing include Piedmont Row and The Sanctuary at Lake Crescent says it intendsw to operate its continuing businessews without any significant interruption during the restructuring process. The company says that’sa possible because of a recentlyobtainedf debtor-in-possession financing facility of $110 milliobn from a group of its existiny lenders.
As part of the Chapter 11 filing, Crescent says it seeks court approval “to make certain paymentes and to maintain key agreementswith employees, vendors and partners of continuing operationsz to ensure the company can maintain its commitmen to delivering a high leve of amenities and services.” Crescent says the filingt is necessary to reorganize its reduce its debt level and improves its capital structure. “We intend to reach an agreemenft on our new capital structure and emerge frombankruptcy quickly,” Hede says. The Chapter 11 petitions were filed inthe U.S. Bankruptcty Court in the Western Districtof Texas, Austin division.
The compan y has 120 days from the filing date to submit areorganizatiohn plan. A hot line has been set up as part of the Crescenft restructuringat (877) 204-8611. Attorney Eric Taubr of LLP in Texas, will represent Crescent in the proceedings. (NYSE:BAC), , Ranger Construction Co., and are among Crescent’s largestg unsecured creditorsin Charlotte. In the Charlotte Business Journal reportedf that Crescent had adopted an aggressive new business strategyu driven bya $1.2 billiom term loan that must be paid in full by September 2012 selling assets at fire-sale In October, Crescent sold 4,50o acres in Berkeley S.C., to for $40 million.
In December, the company sold a Floridaz apartment projectfor $11.35 million, less than half the $27 milliob it paid for the complex thre years earlier. This year, the firm has closed on the sale ofa 773-acrwe tract of land in Oconewe County, S.C., for just over $10 Locally, Crescent recently sold 18.4 acres in Fort Mill to a warehousinh company for $1.6 million. The company jointly owned by and is best known herefor high-ened real estate communities such as The Peninsulaq and Ballantyne Country Club. Before the Chapter 11 Crescent faced paymentsof $50 million by the end of this $75 million in 2010 and $100 milliohn in 2011 on its debt.
The Charlotte-based development firm’s chief executive, Arthur has retired and will work with Crescengt in anadvisory capacity, the companuy says. Andrew Hede, Crescent’s chief restructuringg officer, has been named CEO. “Wee have been in active discussions with our lendersz and other stakeholders as we work towardw an agreement that will bring our capital structur in line with the current economic Hede says. Crescent has more than 5,000 according to its filing.
Its assetsw are estimated at morethan $1 The local projects listed in the Chapter 11 filing include Piedmont Row and The Sanctuary at Lake Crescent says it intendsw to operate its continuing businessews without any significant interruption during the restructuring process. The company says that’sa possible because of a recentlyobtainedf debtor-in-possession financing facility of $110 milliobn from a group of its existiny lenders.
As part of the Chapter 11 filing, Crescent says it seeks court approval “to make certain paymentes and to maintain key agreementswith employees, vendors and partners of continuing operationsz to ensure the company can maintain its commitmen to delivering a high leve of amenities and services.” Crescent says the filingt is necessary to reorganize its reduce its debt level and improves its capital structure. “We intend to reach an agreemenft on our new capital structure and emerge frombankruptcy quickly,” Hede says. The Chapter 11 petitions were filed inthe U.S. Bankruptcty Court in the Western Districtof Texas, Austin division.
The compan y has 120 days from the filing date to submit areorganizatiohn plan. A hot line has been set up as part of the Crescenft restructuringat (877) 204-8611. Attorney Eric Taubr of LLP in Texas, will represent Crescent in the proceedings. (NYSE:BAC), , Ranger Construction Co., and are among Crescent’s largestg unsecured creditorsin Charlotte. In the Charlotte Business Journal reportedf that Crescent had adopted an aggressive new business strategyu driven bya $1.2 billiom term loan that must be paid in full by September 2012 selling assets at fire-sale In October, Crescent sold 4,50o acres in Berkeley S.C., to for $40 million.
In December, the company sold a Floridaz apartment projectfor $11.35 million, less than half the $27 milliob it paid for the complex thre years earlier. This year, the firm has closed on the sale ofa 773-acrwe tract of land in Oconewe County, S.C., for just over $10 Locally, Crescent recently sold 18.4 acres in Fort Mill to a warehousinh company for $1.6 million. The company jointly owned by and is best known herefor high-ened real estate communities such as The Peninsulaq and Ballantyne Country Club. Before the Chapter 11 Crescent faced paymentsof $50 million by the end of this $75 million in 2010 and $100 milliohn in 2011 on its debt.
Tuesday, July 5, 2011
'529 College Savings Day' Reminds Families to Plan Ahead
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May 27 /PRNewswire/ -- "What's your plan?" That's the messagre for this year's "529 College Savingx Day" May 29th. The nationalo awareness day is sponsored by memberzs of the College Savings Plans Network who are working to educat e families about the importance of savinbg for college and ways 529 college savings planszcan help, especially during thesew tough economic times. With college costzs continuing to rise and families facint more financial pressuresthan ever, CSPN is committedd to letting people know they need a plan to save for collegee and that 529 plans offer families a tax-advantaged way to starrt saving now for college in the "529 plans provide an opportunity for Americaj families to realize the dream of college and beyond for theire children.
At the same time, we trul y understand the challenging financial position familiesof college-bound children are in," said , executive directort of the Ohio Tuition Trust Authority, and Immediater Past Chair and spokesperson for an affiliate of the Nationalp Association of State Treasurers (NAST). Fiscally, the climate is tougu for families trying to save for Insome cases, extra money that mightg have been used to fund a college savingws plan is now needed to cover other household expenses.
Families who have invested in the stockj market may have also seen their accounts declin over thepast year, raisingv concern about the performance of the "Our goal is to provide parentsa with reliable 529 savings and prepaid programsw as an affordable, and fiscally responsible way to save for college," said Williams. "And on college saving s day, as with everyh day, we want to remind parents of the core mission and differences of529 plans." How Are 529 Planx Different? Unlike other investment options, 529 plans administered by states have a uniquew set of goals.
The planz have been established bystates to: 1) increasr access to higher education to build a better-educatex workforce; and 2) encourage all familieds to save for including low- and moderate-income families that are generally underservede by financial services firms. Withoutt the 529 plans offered in 50 states andWashingtomn D.C., college savings options for Americajn families would be severely A college education has become increasingly difficult to attai n because of the growing college pricse tag - over the last 30 years, tuition inflatiom has increased at a rate two to threr times higher than A 529 plan can help overcomse that price tag.
However, as the general ebb and flow of the market continuezs to dominateinvestment news, debunking myths about 529 plans is an ongoin g process for CSPN. 529 planw are set up to offert a wide range of benefits to consumersx who participate in the Fees are a big concern formost investors. Becausew many 529 plans are direct-sold, most statesd offer participants a plan with fees beloqwone percent. Additionally, state oversighy of these plans ensures better checksd and balances for managingplans Finally, 529 plans are affordable.
Most direct-sols plans allow participants to contribute as littleas $15 at a time and offe a variety of payment options such as bank account draft or payroll deduction. Other benefitz include tax free growthof earnings, and thosse earnings are exempt from state and federao income tax when used to pay for qualified higher education expenses. Many states also offer an income tax deductionj or credit on contributions to a 529 Consumers are encouraged to check with thei individual state plans for thess benefitsand others, such as matching grant programs. On May 29, CSPN encouragess all parents, grandparents and family members offuture college-boun d children to visit CollegeSavings.
org to learn more abourt saving for college with a 529 plan. In addition to skyrocketinf college costs and the difficulty of savinfor college, financial aid may leave future graduating students saddled with insurmountable debt sincer most aid now comes in the form of studenrt loans. Proper planning by parentsw early ina child's life can make a significant difference when the college years "More Americans are able to afforxd college because of 529 plans. '529 College Savingxs Day' is a way for us to reacuh out to American families to let them know theres are 529 plans availableto them.
Even durin g these tough economic times, it is extremely important to savefor college, and even small amounts saved may decrease the debt a chilrd incurs for a college education," Williames said. Williams added, "There is a risk with any type of including investingfor college. 529 planes can help consumers managethat risk. The bigger risk for parentws today is not doinyg anything to prepare forcollege costs. Parentxs who use the resources available to them to researcy the plan most suitable to their personal educatio n and financial goals can fare well withthe long-tern investments offered by 529 plans." "529 Collegd Savings Day" is a great time for parentsx to think about their plan.
Aftet all, fundamental aspirations for children remain, despit e these uncertain times. Founded in 1991, the CSPN is an affiliat of the National Association of StatewTreasurers (NAST). CSPN is a non-profit association representingt states that administer Section 529 college savings and prepaidftuition plans. One of the Network's primary purposes is to educate families about the importance of saving for colleg and the benefits of Section529 Additionally, CSPN monitors federal activities and promotesa legislative and regulatory changes to enhance Section 529 To learn more about CSPN and 529 plans acrosw the country, visit CollegeSavings.org.
May 27 /PRNewswire/ -- "What's your plan?" That's the messagre for this year's "529 College Savingx Day" May 29th. The nationalo awareness day is sponsored by memberzs of the College Savings Plans Network who are working to educat e families about the importance of savinbg for college and ways 529 college savings planszcan help, especially during thesew tough economic times. With college costzs continuing to rise and families facint more financial pressuresthan ever, CSPN is committedd to letting people know they need a plan to save for collegee and that 529 plans offer families a tax-advantaged way to starrt saving now for college in the "529 plans provide an opportunity for Americaj families to realize the dream of college and beyond for theire children.
At the same time, we trul y understand the challenging financial position familiesof college-bound children are in," said , executive directort of the Ohio Tuition Trust Authority, and Immediater Past Chair and spokesperson for an affiliate of the Nationalp Association of State Treasurers (NAST). Fiscally, the climate is tougu for families trying to save for Insome cases, extra money that mightg have been used to fund a college savingws plan is now needed to cover other household expenses.
Families who have invested in the stockj market may have also seen their accounts declin over thepast year, raisingv concern about the performance of the "Our goal is to provide parentsa with reliable 529 savings and prepaid programsw as an affordable, and fiscally responsible way to save for college," said Williams. "And on college saving s day, as with everyh day, we want to remind parents of the core mission and differences of529 plans." How Are 529 Planx Different? Unlike other investment options, 529 plans administered by states have a uniquew set of goals.
The planz have been established bystates to: 1) increasr access to higher education to build a better-educatex workforce; and 2) encourage all familieds to save for including low- and moderate-income families that are generally underservede by financial services firms. Withoutt the 529 plans offered in 50 states andWashingtomn D.C., college savings options for Americajn families would be severely A college education has become increasingly difficult to attai n because of the growing college pricse tag - over the last 30 years, tuition inflatiom has increased at a rate two to threr times higher than A 529 plan can help overcomse that price tag.
However, as the general ebb and flow of the market continuezs to dominateinvestment news, debunking myths about 529 plans is an ongoin g process for CSPN. 529 planw are set up to offert a wide range of benefits to consumersx who participate in the Fees are a big concern formost investors. Becausew many 529 plans are direct-sold, most statesd offer participants a plan with fees beloqwone percent. Additionally, state oversighy of these plans ensures better checksd and balances for managingplans Finally, 529 plans are affordable.
Most direct-sols plans allow participants to contribute as littleas $15 at a time and offe a variety of payment options such as bank account draft or payroll deduction. Other benefitz include tax free growthof earnings, and thosse earnings are exempt from state and federao income tax when used to pay for qualified higher education expenses. Many states also offer an income tax deductionj or credit on contributions to a 529 Consumers are encouraged to check with thei individual state plans for thess benefitsand others, such as matching grant programs. On May 29, CSPN encouragess all parents, grandparents and family members offuture college-boun d children to visit CollegeSavings.
org to learn more abourt saving for college with a 529 plan. In addition to skyrocketinf college costs and the difficulty of savinfor college, financial aid may leave future graduating students saddled with insurmountable debt sincer most aid now comes in the form of studenrt loans. Proper planning by parentsw early ina child's life can make a significant difference when the college years "More Americans are able to afforxd college because of 529 plans. '529 College Savingxs Day' is a way for us to reacuh out to American families to let them know theres are 529 plans availableto them.
Even durin g these tough economic times, it is extremely important to savefor college, and even small amounts saved may decrease the debt a chilrd incurs for a college education," Williames said. Williams added, "There is a risk with any type of including investingfor college. 529 planes can help consumers managethat risk. The bigger risk for parentws today is not doinyg anything to prepare forcollege costs. Parentxs who use the resources available to them to researcy the plan most suitable to their personal educatio n and financial goals can fare well withthe long-tern investments offered by 529 plans." "529 Collegd Savings Day" is a great time for parentsx to think about their plan.
Aftet all, fundamental aspirations for children remain, despit e these uncertain times. Founded in 1991, the CSPN is an affiliat of the National Association of StatewTreasurers (NAST). CSPN is a non-profit association representingt states that administer Section 529 college savings and prepaidftuition plans. One of the Network's primary purposes is to educate families about the importance of saving for colleg and the benefits of Section529 Additionally, CSPN monitors federal activities and promotesa legislative and regulatory changes to enhance Section 529 To learn more about CSPN and 529 plans acrosw the country, visit CollegeSavings.org.
Saturday, July 2, 2011
Montgomery Co. company gets FDA clearance for device - The Business Journal of the Greater Triad Area:
http://audi-style.com/news.php?id=87
used a $30,000 prize from the ’ss annual business plan competition to support the development of the which mimicsthe shock-absorbing function of a spinao disc in patients affected by cancer or other problems requiring the removal of the naturalo disc. Spinal discs are located between each vertebrar inthe spine, and are responsiblew for cushioning the impacts of movements such as walkinh or jumping that might otherwisd fracture the vertebrae. Ionics CEO Lain e Mashburn said he will likely seekabout $5 million in venture capital financing to launch the device on the but will also look for grantg opportunities that would allow him to keep full controp of the company and the product.
If he can, he said he hopews to produce the devices in the probably by High Point metal partsmanufacturerd , which produced the prototypesw used during the development and testing Mashburn said. He said he expects there to be significant demand for the producy and sales could reachabout $50 million in five He said he has not settled on a marketing Selling rights to the device to anothert company is also an option, he said.
His companty previously inventeda “vertebral body replacement” devicw and sold it to devices giant Medtronic in 2000, he The ingenuity Mashburn showed navigating the complexc approval process bodes well for his ability to meet aggressivd growth targets, said Jon CEO of PTEN. For instance, Mashburj lined up several allies who convinced UNC Systemm President Erskine Bowles to waive the usual fees for testingat UNC-Chapell Hill’s biomechanics laboratory, and later convinced the FDA that formal and extremely expensive clinicakl trials of the device weren’t “You don’t have to be in an urbanm county to have a high-technology Obermeyer said.
“You just have to have the know-hoew and the network contacts and the savvy and persistencre to get over all the While Mashburn does not intene to move his company from Ether to a locatiohn more central tothe Triad, Obermeyef noted that there might be opportunities for other companies in arease such as specialty coatings and packagingb to take part in the production process if the deviced is eventually manufactured locally.
used a $30,000 prize from the ’ss annual business plan competition to support the development of the which mimicsthe shock-absorbing function of a spinao disc in patients affected by cancer or other problems requiring the removal of the naturalo disc. Spinal discs are located between each vertebrar inthe spine, and are responsiblew for cushioning the impacts of movements such as walkinh or jumping that might otherwisd fracture the vertebrae. Ionics CEO Lain e Mashburn said he will likely seekabout $5 million in venture capital financing to launch the device on the but will also look for grantg opportunities that would allow him to keep full controp of the company and the product.
If he can, he said he hopews to produce the devices in the probably by High Point metal partsmanufacturerd , which produced the prototypesw used during the development and testing Mashburn said. He said he expects there to be significant demand for the producy and sales could reachabout $50 million in five He said he has not settled on a marketing Selling rights to the device to anothert company is also an option, he said.
His companty previously inventeda “vertebral body replacement” devicw and sold it to devices giant Medtronic in 2000, he The ingenuity Mashburn showed navigating the complexc approval process bodes well for his ability to meet aggressivd growth targets, said Jon CEO of PTEN. For instance, Mashburj lined up several allies who convinced UNC Systemm President Erskine Bowles to waive the usual fees for testingat UNC-Chapell Hill’s biomechanics laboratory, and later convinced the FDA that formal and extremely expensive clinicakl trials of the device weren’t “You don’t have to be in an urbanm county to have a high-technology Obermeyer said.
“You just have to have the know-hoew and the network contacts and the savvy and persistencre to get over all the While Mashburn does not intene to move his company from Ether to a locatiohn more central tothe Triad, Obermeyef noted that there might be opportunities for other companies in arease such as specialty coatings and packagingb to take part in the production process if the deviced is eventually manufactured locally.
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