iqukikofor.wordpress.com
In the past year, fuel pricwe upheaval caused the pricesof petro-dependent materials such as steel and shingles to spike and fall in Meanwhile, the cost of lumbe has dropped along with the demand for new buildings. construction costs are much lower rightf now than inrecent history, making it a tempting time to builr for those who have the Jim Whittington Jr., president of , says lumbef costs have fallen dramatically during the “Lumber is at record lows,” he says. “There’s just no demandd for it.” The average yearly price for framinh lumber per thousand board feetwas $252 in 2008, accordingh to Random Lengths, an industryh publication.
In 2004, the averagew price was $404. Whittington says the recession has causede a number of lumber mills to clos because of a lackof demand, but also because some companiess are trying to reduce supply in order to artificially boosf prices. Whittington says the businesz slowdown is nothing new for lumberyarda as the industry has been in a downward cycle for the lastthree years. “Naturally, our business is way he says.
Norris Bruff, owner of , says businesz has been slow for abouta year, with the main culpritx being lack of demand and fuel price High fuel affects more than just transportation costs, as many materialsx used in construction are petroleum based such as shingles, steel and “A lot of the productsa we sell have been severely affected by the pricew of fuel,” Bruff says. “Even thoughb business wasn’t great, prices have gone up.” For Bruff says last year they sold a square of shingleesfor $32.95, a product that now goes for “We’ve got the best of both worlds,” Bruff sarcastically. “Slow business and the pricse isgoing up.
” The most dramatic fluctuation in pricing has been for steel and steel-based products, says Wayne Smith, president of . “j haven’t seen anything that reallyg shocked me other than he says. “That affect a lot of things other thansteeol itself.” The price of steek has been difficult to predict. Mediuk steel sections per metric ton topped out in July at but have since dropped thanks to lowe rfuel costs, according to Steelonthenet.com. Medium steell sections cost $859 per metric ton in December 2007 but had droppefto $780 in December 2008. Lowefr labor and materials costs from the lack of demand make rightt now the best timeto build, says Chris president of , Inc.
“It’s a combination of everything right now,” he says. “We’ve seen decreases in materialk prices thatwe haven’t seen since 2000. Righf now, you can build a building at 2005 Accordingto Woods, the recent pricw drop has been the sharpest he has seen in his 35 yearz in the industry. “I don’t believe we will ever see building costs any less than theyare now,” he says. “u think once the economy turns around and building startsback up, we’rde going to see the rise in cost again.
” Smith says the ultra-competitive labor markeg will also help keep prices low for prospective Whittington believes construction demand will eventuallty rebound. “Things were good for a whil there and then things justgot overbuilt,” he “It’ll come back because of the numbers of people. Peopl have to have places to live. It’ll pick
Wednesday, December 14, 2011
Monday, December 12, 2011
For Baltimore Ravens, there's no place like home - Indianapolis Star
yjanebixe.wordpress.com
Boston.com | For Baltimore Ravens, there's no place like home Indianapolis Star BALTIMORE -- In a story line dripping with irony, Baltimore wants nothing more than for the road to Indianapolis to travel through the city where the Colts once played. The Ravens don't need to be reminded, after losing on the road in the playoffs each ... Ravens breeze to 24-10 win, drop Colts to 0-13 Suggs gets 3 sacks and forces 3 fumbles as Ravens roll to 24-10 win that drops ... Ravens win 24-10, dropping Colts to 0-13 |
Saturday, December 10, 2011
SendTec files for Chapter 11 bankruptcy protection - Tampa Bay Business Journal:
ra-iwinyro.blogspot.com
The St. Petersburg direct respons e marketing company is claiming assetswof $3.7 million and liabilities of more than $17.e4 million. SendTec (OTCBB: SNDN) last filedf a financial report with the SEC last November when it claimerd a net incomeof $623,000, or 1 cent per on revenue of $5 million for the quarter ended 30, 2008. That was a turnaround from a $4.4 or 8 cents per loss on revenueof $7.4 millionm recorded the year before. In a statement released aftedrits filing, SendTec said it has receivedr an offer led by managementf and a group of outside investment firms to purchase assetsa and continue operations as a new company.
SendTevc didn’t identify the outside investment “A series of corporate transactionsinvolving SendTec’s parent companiews going back to 2004 … has left SendTe c with a large burdemn of debt apart from operations,” said chief executivwe officer Paul Soltoff in a statement. “These proceedingsw represent our best option for removingy that burden while continuing to servee our clients and run our Inthe interim, it will be business as We anticipate no reduction in staff or services." In the nine monthws leading up to the 2008 third SendTec chalked up a profirt of $3.5 million, or 5 cents per share, comparedd to a $13.
5 million, or 25 centes per share, loss the year priod despite revenue dropping from $24.5t million to $16.3 million. In SendTec informed the SEC that it would be unablr to fileits year-end report statinb the company “does not have sufficient resourced to complete the audit of the financial Among the creditors holding secured claims againstg SendTec is , care of of New York for $3.36 million in Series B preferree shares; of New York City for $2 milliohn in Series B preferred shares; and of New York City for $1.687 million in Series B preferred shares. Also holding a secured claimk is ofOld Greenwich, for $1.
3 million in Series B preferred Most unsecured priority claimsw listed in the bankruptcy court documents are less than $15,00p0 with the exception of $50,000 owed to the IRS. SendTefc has been fighting a numberf of lawsuits in various courtes including one charging it with breach of contractr and unjust enrichment from inthe N.Y. Supremre Court where motions are pending. It’s defendin g itself from similar charges by through the Pinellas Countuy Circuit Court where SendTec recently filed an according tobankruptcy documents.
There are thre other contract disputeswith , the Fort Lauderdale company that acquired SendTec in Augusgt 2005 that is now listed as in court papers, in three courts in South Floridaq where motions are pending. SendTe c also has an arbitration case pending against it from in the Couryt of Common Pleas of Delawars Countyin Media, Pa., and an activr employee discrimination suit against it from Janert Megdadi in a court in Bridgeport, Conn. Paul chief executive officer, owns 7.5 percent of SendTec’s earned $400,000 last year and has been paid just lessthan $16,70p semimonthly in 2009. Donald Gould Jr., chieg financial officer, owns 4.
4 percent of the company’s earned $260,125 last year and has been paid morethan $10,800 semimonthly for 2009, according to court documents. of Boca Raton owns the biggesrt piece of SendTecwith 18.2 percentr of shares, while LBI Group, Fursa Alternative Alexandra Global Master Fund and SDS Capitalp Group SPC Ltd of Grand Cayman each own just less than 10
The St. Petersburg direct respons e marketing company is claiming assetswof $3.7 million and liabilities of more than $17.e4 million. SendTec (OTCBB: SNDN) last filedf a financial report with the SEC last November when it claimerd a net incomeof $623,000, or 1 cent per on revenue of $5 million for the quarter ended 30, 2008. That was a turnaround from a $4.4 or 8 cents per loss on revenueof $7.4 millionm recorded the year before. In a statement released aftedrits filing, SendTec said it has receivedr an offer led by managementf and a group of outside investment firms to purchase assetsa and continue operations as a new company.
SendTevc didn’t identify the outside investment “A series of corporate transactionsinvolving SendTec’s parent companiews going back to 2004 … has left SendTe c with a large burdemn of debt apart from operations,” said chief executivwe officer Paul Soltoff in a statement. “These proceedingsw represent our best option for removingy that burden while continuing to servee our clients and run our Inthe interim, it will be business as We anticipate no reduction in staff or services." In the nine monthws leading up to the 2008 third SendTec chalked up a profirt of $3.5 million, or 5 cents per share, comparedd to a $13.
5 million, or 25 centes per share, loss the year priod despite revenue dropping from $24.5t million to $16.3 million. In SendTec informed the SEC that it would be unablr to fileits year-end report statinb the company “does not have sufficient resourced to complete the audit of the financial Among the creditors holding secured claims againstg SendTec is , care of of New York for $3.36 million in Series B preferree shares; of New York City for $2 milliohn in Series B preferred shares; and of New York City for $1.687 million in Series B preferred shares. Also holding a secured claimk is ofOld Greenwich, for $1.
3 million in Series B preferred Most unsecured priority claimsw listed in the bankruptcy court documents are less than $15,00p0 with the exception of $50,000 owed to the IRS. SendTefc has been fighting a numberf of lawsuits in various courtes including one charging it with breach of contractr and unjust enrichment from inthe N.Y. Supremre Court where motions are pending. It’s defendin g itself from similar charges by through the Pinellas Countuy Circuit Court where SendTec recently filed an according tobankruptcy documents.
There are thre other contract disputeswith , the Fort Lauderdale company that acquired SendTec in Augusgt 2005 that is now listed as in court papers, in three courts in South Floridaq where motions are pending. SendTe c also has an arbitration case pending against it from in the Couryt of Common Pleas of Delawars Countyin Media, Pa., and an activr employee discrimination suit against it from Janert Megdadi in a court in Bridgeport, Conn. Paul chief executive officer, owns 7.5 percent of SendTec’s earned $400,000 last year and has been paid just lessthan $16,70p semimonthly in 2009. Donald Gould Jr., chieg financial officer, owns 4.
4 percent of the company’s earned $260,125 last year and has been paid morethan $10,800 semimonthly for 2009, according to court documents. of Boca Raton owns the biggesrt piece of SendTecwith 18.2 percentr of shares, while LBI Group, Fursa Alternative Alexandra Global Master Fund and SDS Capitalp Group SPC Ltd of Grand Cayman each own just less than 10
Wednesday, December 7, 2011
Boulevard Co. sets sights on pair of apartment projects - Charlotte Business Journal:
iqukikofor.wordpress.com
"We're reinventing ourselves as anapartment developer," says Branch, president of The prolific Charlotte company, which played a key role in the local condominium boom, has designs on developing rental buildings uptown and alongy Seventh Street in Elizabeth. Also in the workas are small commercialinfill projects: offices on a triangular-shaped parcel at 1301 Kenilworth Ave. near Carolinaes Medical Center and next to the Fowler Buildinv at1447 S. Tryon St. in Southu End. Branch says he started looking to changwhis firm's strategy as Charlotte's condo market begahn to fade.
A $40 eight-story apartment project slated for North Cedar Street woulds be the first toestablish Boulevard's new On Monday night, approved a zoning change for the 1.8-acrew site near Gateway Village to alloww both residential and commercial uses. Boulevard can now developp up to 250 apartmentsand 5,000 square feet of commercialo space next to Cedar Oaks Condominium. Branchn touts the location for its unobstructed views and its proximityhto uptown.
It's one of two sites his companyt is targeting for apartment buildings across fromthe 72-acre Boulevard is also considering redevelopmentr of the Orchard Park apartments, a 42-unit, five-building complex at the cornerr of North Clarkson and Cates streets. The property is contiguoue to the proposed North CedarStreet apartments, but Branchu says the projects aren'tr connected. To pursue it plans for the OrchardPark property, Boulevardc needs the site But the company has deferred that request untio it resolves questions about an environmental concern.
A strea m runs through the property, and that has complicatedr the firm's plans because of new locapl restrictions regardingstormwater runoff. The city's Post-Construction Controls Ordinancse takes effectJuly 1, requiring enhanced buffer zoneds and heightened regulations for the collection and treatment of rain water. The augmentefd construction code was required by June 2009 underfederal law, which calls for communities to upgrads their rules to reducer flooding and water pollution in urban The new rules require new ways of dealiny with the way water moves off a propert y and into creeks and streams. And Branch and others say that meanswnew costs.
"You will see more and more developeres discovering the unintended consequences ofthe Post-Construction Controls warns land-use consultant Walter Fields, who has workedc with Boulevard on its plans. "But no one will speak ill of tryingf to protectsurface water." To gain rezoningg approval for his assembly of three parcelsx along the 200 block of North Cedarr Street, Branch had to commig to building an underground sand filter to cleabn any rain water that runs into his It will be the first of its kind that Branchn has built for one of his developments, and the expensed is unclear, he "It's not completely quantified becausew there is no precedent.
" Branch says he will clos e on the land for the city-approved apartments within 30
"We're reinventing ourselves as anapartment developer," says Branch, president of The prolific Charlotte company, which played a key role in the local condominium boom, has designs on developing rental buildings uptown and alongy Seventh Street in Elizabeth. Also in the workas are small commercialinfill projects: offices on a triangular-shaped parcel at 1301 Kenilworth Ave. near Carolinaes Medical Center and next to the Fowler Buildinv at1447 S. Tryon St. in Southu End. Branch says he started looking to changwhis firm's strategy as Charlotte's condo market begahn to fade.
A $40 eight-story apartment project slated for North Cedar Street woulds be the first toestablish Boulevard's new On Monday night, approved a zoning change for the 1.8-acrew site near Gateway Village to alloww both residential and commercial uses. Boulevard can now developp up to 250 apartmentsand 5,000 square feet of commercialo space next to Cedar Oaks Condominium. Branchn touts the location for its unobstructed views and its proximityhto uptown.
It's one of two sites his companyt is targeting for apartment buildings across fromthe 72-acre Boulevard is also considering redevelopmentr of the Orchard Park apartments, a 42-unit, five-building complex at the cornerr of North Clarkson and Cates streets. The property is contiguoue to the proposed North CedarStreet apartments, but Branchu says the projects aren'tr connected. To pursue it plans for the OrchardPark property, Boulevardc needs the site But the company has deferred that request untio it resolves questions about an environmental concern.
A strea m runs through the property, and that has complicatedr the firm's plans because of new locapl restrictions regardingstormwater runoff. The city's Post-Construction Controls Ordinancse takes effectJuly 1, requiring enhanced buffer zoneds and heightened regulations for the collection and treatment of rain water. The augmentefd construction code was required by June 2009 underfederal law, which calls for communities to upgrads their rules to reducer flooding and water pollution in urban The new rules require new ways of dealiny with the way water moves off a propert y and into creeks and streams. And Branch and others say that meanswnew costs.
"You will see more and more developeres discovering the unintended consequences ofthe Post-Construction Controls warns land-use consultant Walter Fields, who has workedc with Boulevard on its plans. "But no one will speak ill of tryingf to protectsurface water." To gain rezoningg approval for his assembly of three parcelsx along the 200 block of North Cedarr Street, Branch had to commig to building an underground sand filter to cleabn any rain water that runs into his It will be the first of its kind that Branchn has built for one of his developments, and the expensed is unclear, he "It's not completely quantified becausew there is no precedent.
" Branch says he will clos e on the land for the city-approved apartments within 30
Monday, December 5, 2011
Anthera Pharmaceuticals Promotes Dr. Debra Odink to Chief Technology Officer - Sacramento Bee
deeshu-tatum.blogspot.com
Anthera Pharmaceuticals Promotes Dr. Debra Odink to Chief Technology Officer Sacramento Bee By Anthera Pharmaceuticals, Inc. HAYWARD, Calif., Dec. 5, 2011 -- /PRNewswire/ -- Anthera Pharmaceuticals, Inc. (Nasdaq: ANTH), a biopharmaceutical company developing therapeutics to treat serious diseases associated with inflammation and autoimmune ... Anthera Pharmaceuticals Promotes Dr. Debra Odink to Chief Technology Officer Anthera Pharmaceuticals Promotes Dr. Debra Odink to Chief Technology Officer |
Saturday, December 3, 2011
Newmark Homes Houston buying local TOUSA assets - Business First of Buffalo:
zemlyanikiyri.blogspot.com
TOUSA plans to complete and sell all homesa currentlyunder construction. Moody said the new company will beprivatelu held, locally owned and financed. “Ourd management team has over 70 years’ combined experience,” he The new company plans to build 60 homes ranging in pricefrom $160,00 0 to more than $600,000 in the first 60 days of which will officially begin June 15. Moody said 55 employeexs of TOUSA will remain with the new company aftef TOUSA winds down its localbusiness operations. TOUSA’s predecessor compang was founded in Houston in 1983 as and completef an initial public offerinv inMarch 1998. In Decemberf 1999, TOUSA Inc.
acquired 80 percent of Newmark’ stock. TOUSA Inc. also acquired 100 percent of then-public in Novembefr 2000. On June 25, 2002, Engl merged with Newmark, and the merge d company changed its name toTOUSA Inc. In Hollywood, Fla.-based TOUSA (Pink TOUSQ) told the it plannedc to lay off 156 people in the Houston area from its Newmarko Homes brand beginning May 22 due to the downturn in thehousing market.
TOUSA plans to complete and sell all homesa currentlyunder construction. Moody said the new company will beprivatelu held, locally owned and financed. “Ourd management team has over 70 years’ combined experience,” he The new company plans to build 60 homes ranging in pricefrom $160,00 0 to more than $600,000 in the first 60 days of which will officially begin June 15. Moody said 55 employeexs of TOUSA will remain with the new company aftef TOUSA winds down its localbusiness operations. TOUSA’s predecessor compang was founded in Houston in 1983 as and completef an initial public offerinv inMarch 1998. In Decemberf 1999, TOUSA Inc.
acquired 80 percent of Newmark’ stock. TOUSA Inc. also acquired 100 percent of then-public in Novembefr 2000. On June 25, 2002, Engl merged with Newmark, and the merge d company changed its name toTOUSA Inc. In Hollywood, Fla.-based TOUSA (Pink TOUSQ) told the it plannedc to lay off 156 people in the Houston area from its Newmarko Homes brand beginning May 22 due to the downturn in thehousing market.
Thursday, December 1, 2011
Universities chase stimulus cash for shovel-ready projects - The Business Journal of the Greater Triad Area:
xszeyluje.blogspot.com
The tens of millions of dollars in grant proposalsd are targeting funding streams flowing down through the Americahn Recovery andReinvestment Act’s shovel-ready Universities faced with consecutive years of funding cuts are anglintg to use the shovel-read y cash to catch up on much-needed facilityh upgrades, build classrooms to handle the influx of students in need of re-traininh or tackle big capital projects aimed at bolstering academicx and research. The approach is twofold at , whicuh has seen its student population surge by 12 percentr in the pasttwo years, due in part to risin g unemployment.
The college is seekin g $45 million to build additional classroom capacityh on its three main campuses as well as to enhance vocationa training facilitiesin high-demand according to Ellyn Drotzer, directort of the office of grants development. The college wantz the cash, among other projects, to buil d out its and the Maroone Automotivew Program in Miramar to emphasize curriculum on maintaining and repairing emerginh green energy and hybrid systems in boats and It also wants to expand classrooms for aviation including a facility to train a new generation of airtraffivc controllers, which are expected to be in high demand in a few year s to replace a wave of retiring controllers, Drotzed said.
“These are all shovekl ready,” she said. “We have a historty of training in technical trades an now we are lookinfg to be responsive to providing curriculumm in this new emerging industry ofgreem technology.” The ’s 18-member stimuluse working group meets regularly to discus opportunities and set a course to capture as much of the federal cash as So far, the school has more than 400 proposals seeking in excess of $350 millioh in funding. “We saw this as a very significang opportunity for the university and to do something for the saidRichard Bookman, vice provost of research at UM.
Amontg the projects on the school’s shovel-readgy wish list is a new $45 seawater researchh center at UM’s Rosenstiel School of Mariner and Atmospheric Science onVirginia Key, he said. The universituy is seeking $15 million from the and $15 million from the to help builcdthe center, which will study sea creatures as well as the physicas of waves on structures. UM is also is submitting proposalss fora $15 million to $20 milliojn addition to a science building at its Corak Gables campus and a multi-story researcnh building at its medical has science, green technology and culinaryg training on its shovel-ready submissio n list. The school is requesting help fundinga $22.
7y million hospitality management center to house a culinary arts school as well as $40 millioh for an extensive renovation and upgrade to decades-old facilities at its north campus and $1.2 million for an and But by most accounts competitiomn for stimulus funds will be fierce. And specific fundinbg priorities from federal and state allocatorsbeyond short-termk projects that would create jobs quicklg remains unclear, said Camill e Coley, assistant VP and interim director of sponsoredf research at . “They are not telling us what they arelookingv for,” she said. But FAU is seeking $4.
5 millioj to help build out water reuse infrastructurs at itsnewly opened, gold level Leadershi p in Energy and and platinum leve l engineering building, slated to open in 2010. The university also is seekingv federal stimulus funds to create a road connectot system at its main campuse off Glades Road in Boca Raton andadditional parking. It also wantds funding to put a green roof on its administration While the application process is infull UM’s Bookman doesn’t expect the winning projects to be announced untik the fall.
The tens of millions of dollars in grant proposalsd are targeting funding streams flowing down through the Americahn Recovery andReinvestment Act’s shovel-ready Universities faced with consecutive years of funding cuts are anglintg to use the shovel-read y cash to catch up on much-needed facilityh upgrades, build classrooms to handle the influx of students in need of re-traininh or tackle big capital projects aimed at bolstering academicx and research. The approach is twofold at , whicuh has seen its student population surge by 12 percentr in the pasttwo years, due in part to risin g unemployment.
The college is seekin g $45 million to build additional classroom capacityh on its three main campuses as well as to enhance vocationa training facilitiesin high-demand according to Ellyn Drotzer, directort of the office of grants development. The college wantz the cash, among other projects, to buil d out its and the Maroone Automotivew Program in Miramar to emphasize curriculum on maintaining and repairing emerginh green energy and hybrid systems in boats and It also wants to expand classrooms for aviation including a facility to train a new generation of airtraffivc controllers, which are expected to be in high demand in a few year s to replace a wave of retiring controllers, Drotzed said.
“These are all shovekl ready,” she said. “We have a historty of training in technical trades an now we are lookinfg to be responsive to providing curriculumm in this new emerging industry ofgreem technology.” The ’s 18-member stimuluse working group meets regularly to discus opportunities and set a course to capture as much of the federal cash as So far, the school has more than 400 proposals seeking in excess of $350 millioh in funding. “We saw this as a very significang opportunity for the university and to do something for the saidRichard Bookman, vice provost of research at UM.
Amontg the projects on the school’s shovel-readgy wish list is a new $45 seawater researchh center at UM’s Rosenstiel School of Mariner and Atmospheric Science onVirginia Key, he said. The universituy is seeking $15 million from the and $15 million from the to help builcdthe center, which will study sea creatures as well as the physicas of waves on structures. UM is also is submitting proposalss fora $15 million to $20 milliojn addition to a science building at its Corak Gables campus and a multi-story researcnh building at its medical has science, green technology and culinaryg training on its shovel-ready submissio n list. The school is requesting help fundinga $22.
7y million hospitality management center to house a culinary arts school as well as $40 millioh for an extensive renovation and upgrade to decades-old facilities at its north campus and $1.2 million for an and But by most accounts competitiomn for stimulus funds will be fierce. And specific fundinbg priorities from federal and state allocatorsbeyond short-termk projects that would create jobs quicklg remains unclear, said Camill e Coley, assistant VP and interim director of sponsoredf research at . “They are not telling us what they arelookingv for,” she said. But FAU is seeking $4.
5 millioj to help build out water reuse infrastructurs at itsnewly opened, gold level Leadershi p in Energy and and platinum leve l engineering building, slated to open in 2010. The university also is seekingv federal stimulus funds to create a road connectot system at its main campuse off Glades Road in Boca Raton andadditional parking. It also wantds funding to put a green roof on its administration While the application process is infull UM’s Bookman doesn’t expect the winning projects to be announced untik the fall.
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