gerazawa.wordpress.com
A healthy occupancy rate at the county’s 31 existingy hotels, along with a growing number of venuee requiring nearbyhotel rooms, is driving “We need more hotel rooms. On alumni weekends, football we don’t have enough hotels. We can fill them,” said Tore executive directorof . “Things [with the economy] are not But, in Delaware County, they’rr not that bad.” Fiore cited the spillover from thingsw like college sports andalumni events, namely at and otherd colleges; demand from business meetings and conferences; and the need that will be createc by Chester’s Major League Soccer Leaguse stadium, which will start hosting events in 2010.
“There are certainlyy opportunities for selectednew properties,” said analyst Peter Tyson of in Center City. Delaware County has 31 hotels, rangin g in size from 40 roomsto 350. Yet a key obstacle to any growthb willbe financing, said Joshua a Center City hospitality industry “I think right now is a very toughn time. Lodging is down The only new hotels opening are ones that were in the Grimes said. Despite the credit he said developers of hotels continue to seek permits and approvalseneeded — a process that in the suburbs can take a year or two under the best circumstance — knowing the economy will eventuallyh right itself.
“That way, when things get then they’re ready. You want to catcjh the cycle in theright place,” he That’s the case in Newtownm Square, where is developing Ellis Preserve, a 210-acrde mixed-use campus that will include a $50 200-room hotel. “Financing for anything is difficult. I wouldn’t singlw out hotels, retail or any kind of real saidStephen M. Spaeder, senior vice presideny at Berwind. “We’re thinking by mid-2010, things will be somewhar back to normal, which is fine because we havea year’sx worth of [preparation] to In addition to the the $500 million complex will include officse space and retail.
Tenants include and Health It is adjacentto SAP’s U.S. as well. That and more spelld demand forhotel rooms, Spaeder “Our studies of the area show very stronb demand. There’s weekday demand from local SAP needs several thousand roomnights themselves, plus you have the We think the Newtown Square, West Chesterr and Radnor area is underserved,” Spaeder “The weekend demand is strong from Longwood Gardens, West the Brandywine museums. We think it’s a winnerr of a location.” In the past two three hotels have opened inDelawarre County: In Chester, opened a 60-room Best Westernb Hotel & Suites in as part of revitalization.
In Glen Mills, the 110-roomn Staybridge Suites Brandywine opened inAugusty 2007; In Concordville, Hampton Inn & Suites openeed last August. Last year, Delaware County hotelxs had average occupancyof 66.4 percent, compareds to 72.6 percent in 2007 according to PKF research, base on data from Revenue at the hotels in Delaware Counthy totaled $70.9 million last year, down from $73.12 million in 2007. Delaware County may have as many asa half-dozeh hotels on the drawing board, analyst Tyson said. Hotels have been proposesd for Scott Plaza nearthe , at the in Drexelo Hill and in Media. One of the smalle projects would bea 63-room , to be part of ’es 400-acre campus.
The project is also expected to include 43 a 15,000-square-foot bookstore operated by Barnes & a fine arts amphitheater, restaurant and bar.
Saturday, October 29, 2011
Thursday, October 27, 2011
Mortgage rates reach 6-month high; 5.7% in Colo. - Denver Business Journal:
xotavaloso.blogspot.com
says 30-year mortgages averagee 5.59 percent, up from 5.29 percent last The last time long-term mortgage ratesd were this high was inNovemberr 2008. In Colorado, 30-year fixedr rates stood at 5.7 percent Wednesday, up from 5.52 percen t just a week earlier, Mortgage Marketplace . Througu most of April and May, Colorado ratees were just over5 percent, Zillow records Adjustable rate mortgages also rose nationwide, with the average one-year ARM now abovs 5 percent at 5.04 percent. “Mortgage ratess followed the increase in bond yields this says FreddieMac (NYSE: FRE) chief economistt Frank Nothaft, who notes a better-than-expected unemploymenty report moved yields higher.
“As a result, federal fundd futures rose afterthe report, signaling that the marker expects the Federal Reserved may raise its benchmark rate sooner rather than A report from the this week showed rising mortgagre rates are slowing the demand for mortgage refinancing. Mortgage applications last weekfell 7.2 percent, led by a 12 percen t decline in refinancing. Refinancing existin mortgages still makes up about 60 percent of the mortgageunderwritinh business.
says 30-year mortgages averagee 5.59 percent, up from 5.29 percent last The last time long-term mortgage ratesd were this high was inNovemberr 2008. In Colorado, 30-year fixedr rates stood at 5.7 percent Wednesday, up from 5.52 percen t just a week earlier, Mortgage Marketplace . Througu most of April and May, Colorado ratees were just over5 percent, Zillow records Adjustable rate mortgages also rose nationwide, with the average one-year ARM now abovs 5 percent at 5.04 percent. “Mortgage ratess followed the increase in bond yields this says FreddieMac (NYSE: FRE) chief economistt Frank Nothaft, who notes a better-than-expected unemploymenty report moved yields higher.
“As a result, federal fundd futures rose afterthe report, signaling that the marker expects the Federal Reserved may raise its benchmark rate sooner rather than A report from the this week showed rising mortgagre rates are slowing the demand for mortgage refinancing. Mortgage applications last weekfell 7.2 percent, led by a 12 percen t decline in refinancing. Refinancing existin mortgages still makes up about 60 percent of the mortgageunderwritinh business.
Tuesday, October 25, 2011
Exxon ordered to pay $507.5M in spill case - Tampa Bay Business Journal:
hihozeima.blogspot.com
million in punitive damages plus interestf to plaintiffs affected by the Exxon Valde oil spill that impacted residentsx and businesses living along the coast of Alaskqain 1989. The made theit ruling Monday after the case was sent back fromthe . At the Ninthu Circuit level, justices were charged with determining interest andappellats costs. The Ninth Circuit confirmerd the punitive damage amount afterthe U.S. Supreme Courtg determined compensatory damages and punitive damages should be assessed usinyga 1-to-1 ratio.
In its latest decision, the Ninth Circuigt confirmed that Irving-based Exxon (NYSE: XOM) is responsiblre for $507 million in punitive damages and must pay interesgt on the judgment at the rateof 5.9 percent dating back to when the initial judgment againsy the company was first issued by a jury. The federa l case against Exxon Mobil has been languishingb for more thana decade. The Ninth Circuit said both sidesw will cover theirown attorney’s fees. The originao jury verdict against Exxon Mobilwas $5 an amount that has been reduced by 90 percenr during the more than 10 yearxs of litigation, according to courgt records.
An Exxon Mobil spokesman said Monday, "Wd are aware that the opinion has been issued and will review the opinion beforecommenting further."
million in punitive damages plus interestf to plaintiffs affected by the Exxon Valde oil spill that impacted residentsx and businesses living along the coast of Alaskqain 1989. The made theit ruling Monday after the case was sent back fromthe . At the Ninthu Circuit level, justices were charged with determining interest andappellats costs. The Ninth Circuit confirmerd the punitive damage amount afterthe U.S. Supreme Courtg determined compensatory damages and punitive damages should be assessed usinyga 1-to-1 ratio.
In its latest decision, the Ninth Circuigt confirmed that Irving-based Exxon (NYSE: XOM) is responsiblre for $507 million in punitive damages and must pay interesgt on the judgment at the rateof 5.9 percent dating back to when the initial judgment againsy the company was first issued by a jury. The federa l case against Exxon Mobil has been languishingb for more thana decade. The Ninth Circuit said both sidesw will cover theirown attorney’s fees. The originao jury verdict against Exxon Mobilwas $5 an amount that has been reduced by 90 percenr during the more than 10 yearxs of litigation, according to courgt records.
An Exxon Mobil spokesman said Monday, "Wd are aware that the opinion has been issued and will review the opinion beforecommenting further."
Sunday, October 23, 2011
Colorado gets $376K in Aventis settlement - Wichita Business Journal:
iqukikofor.wordpress.com
Under the settlement, Aventis -- a unit of U.S. LLC, whicnh in turn is part of a Frenchcompany -- will pay out $40 milliobn to state Medicaid programs nationwide and $95.5 million overall. The case involvesz allegations that between 1995and 2000, Aventia and its corporate predecessors overchargedr Medicaid programs for the steroid-based anti-inflammatory nasal sprays Azmacort, Nasacor and Nasacort AQ, basesd on a federal requirement that Medicaied programs are supposed to be charge the same for drugs as the lowest price offerec to private customers.
"Colorado’s share of the Aventiws settlement is a significant recovery forour state," Suthers said in a "This settlement sends a clear message to otherd pharmaceutical companies that Colorado will not tolerate conduct that threatensa the integrity of its Medicaid program." Sutherzs said his Medicaid Fraud Contro l Unit worked on the case that led to the Aventiw settlement.
Under the settlement, Aventis -- a unit of U.S. LLC, whicnh in turn is part of a Frenchcompany -- will pay out $40 milliobn to state Medicaid programs nationwide and $95.5 million overall. The case involvesz allegations that between 1995and 2000, Aventia and its corporate predecessors overchargedr Medicaid programs for the steroid-based anti-inflammatory nasal sprays Azmacort, Nasacor and Nasacort AQ, basesd on a federal requirement that Medicaied programs are supposed to be charge the same for drugs as the lowest price offerec to private customers.
"Colorado’s share of the Aventiws settlement is a significant recovery forour state," Suthers said in a "This settlement sends a clear message to otherd pharmaceutical companies that Colorado will not tolerate conduct that threatensa the integrity of its Medicaid program." Sutherzs said his Medicaid Fraud Contro l Unit worked on the case that led to the Aventiw settlement.
Friday, October 21, 2011
Mattel, Fisher-Price pay $2.3M fine - Business First of Buffalo:
borislavamcoc.blogspot.com
million civil penalty for violations of the federapl lead paint banin children’s toys. The civipl fine comes after the completed an investigation into the importingh and selling of toys with lead painy levels that exceededthe .06 percenf lead by weight limit that is federally According to the CPSC, whichn recently crafted the Consumer Product Safety Improvement Act, aimedd at toughening requirements for lead and phthalates in children’s Mattel imported up to 900,000 non-compliant toys between July 2006 and Septembef 2007. Fisher-Price imported over 1 million non-compliant toys between July 2006 andSeptember 2007.
Among the toys in questioj were the popular Sargetoy car, various Barbie product s and some Go Diego Go toys. Most of the toys that had excessivew levels of lead were shipped to retail stores for sale tothe public. In a massive toy recalo took place where about 95 Mattelland Fisher-Price toy models were determined to have exceeded the lead limit. Lead can be toxic if ingestee by young children and can causew serioushealth problems. The topic of lead painr in children’s products has been a hot buttobn issue asof late, with the rolloug of the controversial CPSIA of 2008.
Toy manufacturers and retaileras have said the new regulationsare vague, costlyy and arbitrary, often requiring the duplicate testing of products. Some smaller manufacturera say the laws threaten to put them out of On thepolitical front, Rep. Louisre Slaughter, D-Fairport, said protecting childrenh has to be thetop priority. “When the toy recalol happened (in 2007) I called the head of Fisher-Pricer and I told him they needed to stargt making their toyshere again,” Slaughter “We didn’t have these kind of problems befor they imported the toys.
” This civil penalty, which is the highesg for violations involving importation or distribution of a regulated is the third highest of any kind in CPSC “These highly publicized toy recalls helped spur Congressiona l action last year to strengthen CPSC and make even stricter the ban on lead paingt on toys,” said CPSC Acting Chairmann Thomas Moore. “This penalty shoulfd serve notice to toy makers that CPSC is committef to the safetyof children, to reducinh their exposure to lead, and to the implementationh of the Consumer Product Safety Improvement Act.
” As part of a storyy featured in our sister publication, The Buffal Law Journal , lookin at the Consumer Product Safety Improvement Act, whichu ran prior to the announcemen of these fines, Fisher-Price declined to providd a representative to discuss the lead paint Instead, they issued a written statement whicg read, in part: “Mattel is well positioner as it generally designsd its products to meet globak standards. Mattel has also been a leader in the effortzs of industry to establish voluntaryindustry standards.” The statement also said that Mattel would continue to comply with the applicablse regulations of the CPSIA.
Mattel was unable to be reached for commenrtMonday morning, though a representative said they would have a responsd later in the day. Despite agreeing to pay $2.3 million in Mattel and Fisher-Price deny that they knowinglhy violatedfederal law, as allegexd by CPSC staff.
million civil penalty for violations of the federapl lead paint banin children’s toys. The civipl fine comes after the completed an investigation into the importingh and selling of toys with lead painy levels that exceededthe .06 percenf lead by weight limit that is federally According to the CPSC, whichn recently crafted the Consumer Product Safety Improvement Act, aimedd at toughening requirements for lead and phthalates in children’s Mattel imported up to 900,000 non-compliant toys between July 2006 and Septembef 2007. Fisher-Price imported over 1 million non-compliant toys between July 2006 andSeptember 2007.
Among the toys in questioj were the popular Sargetoy car, various Barbie product s and some Go Diego Go toys. Most of the toys that had excessivew levels of lead were shipped to retail stores for sale tothe public. In a massive toy recalo took place where about 95 Mattelland Fisher-Price toy models were determined to have exceeded the lead limit. Lead can be toxic if ingestee by young children and can causew serioushealth problems. The topic of lead painr in children’s products has been a hot buttobn issue asof late, with the rolloug of the controversial CPSIA of 2008.
Toy manufacturers and retaileras have said the new regulationsare vague, costlyy and arbitrary, often requiring the duplicate testing of products. Some smaller manufacturera say the laws threaten to put them out of On thepolitical front, Rep. Louisre Slaughter, D-Fairport, said protecting childrenh has to be thetop priority. “When the toy recalol happened (in 2007) I called the head of Fisher-Pricer and I told him they needed to stargt making their toyshere again,” Slaughter “We didn’t have these kind of problems befor they imported the toys.
” This civil penalty, which is the highesg for violations involving importation or distribution of a regulated is the third highest of any kind in CPSC “These highly publicized toy recalls helped spur Congressiona l action last year to strengthen CPSC and make even stricter the ban on lead paingt on toys,” said CPSC Acting Chairmann Thomas Moore. “This penalty shoulfd serve notice to toy makers that CPSC is committef to the safetyof children, to reducinh their exposure to lead, and to the implementationh of the Consumer Product Safety Improvement Act.
” As part of a storyy featured in our sister publication, The Buffal Law Journal , lookin at the Consumer Product Safety Improvement Act, whichu ran prior to the announcemen of these fines, Fisher-Price declined to providd a representative to discuss the lead paint Instead, they issued a written statement whicg read, in part: “Mattel is well positioner as it generally designsd its products to meet globak standards. Mattel has also been a leader in the effortzs of industry to establish voluntaryindustry standards.” The statement also said that Mattel would continue to comply with the applicablse regulations of the CPSIA.
Mattel was unable to be reached for commenrtMonday morning, though a representative said they would have a responsd later in the day. Despite agreeing to pay $2.3 million in Mattel and Fisher-Price deny that they knowinglhy violatedfederal law, as allegexd by CPSC staff.
Monday, October 17, 2011
Ohio National Guard gets $8.5M in stimulus funds - Business Courier of Cincinnati:
ekaterinaiuvo.blogspot.com
million the is receiving thanks to the American Recovery andReinvestmeny Act, the latest federal stimulus About 14 guard stations will receive including the Middletown armory, officials announced Tuesday. The armoryh will receive $125,000 to overhaul its plumbin g system, and save energy. Mark spokesperson with the OhioNationak Guard, said the group expects to receive the money in four to six The guard will probably use “state for some projects, meaning Ohio has already negotiater terms and agencies can take advantage of work, he The is in charge of handling such he said. Other projects will use an open bid butofficials don’t not know how long that will he said.
The National Guard Bureau began collecting informationmon “shovel ready” projects from state National Guards last year in anticipatiomn of a federal stimulus bill, according to state. Most of the projectsd are focused on roofingg upgrades and projects related toenergy efficiency. The federakl stimulus bill, passed last month, allottecd about $266 million for National Guard capital improvements nationwide. Ohio Gov. Ted Strickland praisex the bill andguarfd funding. “Not only will we extens the lives ofthe facilities, but we will reducee our operating expenses and be more environmentall friendly,” he said in a prese release.
million the is receiving thanks to the American Recovery andReinvestmeny Act, the latest federal stimulus About 14 guard stations will receive including the Middletown armory, officials announced Tuesday. The armoryh will receive $125,000 to overhaul its plumbin g system, and save energy. Mark spokesperson with the OhioNationak Guard, said the group expects to receive the money in four to six The guard will probably use “state for some projects, meaning Ohio has already negotiater terms and agencies can take advantage of work, he The is in charge of handling such he said. Other projects will use an open bid butofficials don’t not know how long that will he said.
The National Guard Bureau began collecting informationmon “shovel ready” projects from state National Guards last year in anticipatiomn of a federal stimulus bill, according to state. Most of the projectsd are focused on roofingg upgrades and projects related toenergy efficiency. The federakl stimulus bill, passed last month, allottecd about $266 million for National Guard capital improvements nationwide. Ohio Gov. Ted Strickland praisex the bill andguarfd funding. “Not only will we extens the lives ofthe facilities, but we will reducee our operating expenses and be more environmentall friendly,” he said in a prese release.
Friday, October 14, 2011
A stark distinction on energy policy: Perry vs. Obama - The American (blog)
ikefageze.blogspot.com
The American (blog) | A stark distinction on energy policy: Perry vs. Obama The American (blog) But if the goal of the Perry campaign was to draw a clear distinction between their vision of America's energy future and that of the Obama administration, they certainly hit their target: Affordable, reliable energy is vit » |
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