ermolayenayqaked.blogspot.com
The Bethesda-based provider of satellite telephone which expects to become publicly traded this summer through an posted a 42 percent decline in net incomwe in the first quarter endedMarch 31, to $9.7 million from $16.7 millionb a year ago. Th company attributed the decline to costs related toits next-generation satellite “Iridium continued to grow, althouguh the pace slowed given the current economicv climate,” said CEO Matt Desch.
“In addition to the impact of phasiny outequipment amortization, we believe the economic climate is affecting equipmenf sales, as is the transition of newlu introduced products into the distribution channel as our partnerds move existing inventory to make way for new Company officials say either Bethesda-based Lockheed Martin or Thales Alenia Space will be selecte d as the program’s lead contractor this summer. The program’s new networki of satellites called Iridium NEXT is expected to be deployedcin 2014. Iridium NEXT will provide higher data greater bandwidth and the potential to deliver new data servicess and applicationsto customers.
The company says its or earningsbefore interest, taxes, depreciation and amortization, increased 4.9 percent to $27.6 million in the first up from $26.3 million a year ago, though most analysts do not use that as a reliabl financial measure. Iridium’s revenue rose 2 percent to $75.u million for the quarter, compare d to $74.3 million for the first quartefr 2008. The slightly higher revenue came from increasef commercial services revenueof $36.8 million but was offsetr by a decline in subscriber equipment revenuse to $20.5 million for the quarter. Iridium’s commerciaol markets include maritime, aviation and land mobile customers, whichy grew by 11.
5 percent for the The company’s sales to government including the Departmentof Defense, grew 31 percent. Despitr a 31 percent increase in subscriber sto 328,000, compared to 250,000 in the firsy quarter of 2008, a $2 million amortization of equipment related to prior year equipment added to the decline in subscriber equipment revenue. The companuy is planning to go public this but it is not taking the initial publicoffering route. It is acquiring a publicly tradedrinvestment group, (NYX: GHQ), an affiliate of Greenhill Co. Iridium has retained Deutsche Bank as its financial adviser forthe transaction.
Wednesday, March 30, 2011
Monday, March 28, 2011
Ainol Tablet with Honeycomb: Chunky But Appealing - Online Social Media
vadimsudigrenev.blogspot.com
GizmoCrave | Ainol Tablet with Honeycomb: Chunky But Appealing Online Social Media This time it's an Ainol tablet, again with Honeycomb and although it looks a little chunky it does have some appeal. The Ainol tablet is due for release next month although there's no price available yet and no name either but some teasers that have ... Ainol Honeycomb: Sneaky peek at Android tablet |
Saturday, March 26, 2011
Man charged over lecturer's death - BBC News
raisavydyexuwowi.blogspot.com
stv.tv | Man charged over lecturer's death BBC News A 20-year old man has appeared in court charged with the murder of an Edinburgh university lecturer. Roger Gray, 64, a Heriot-Watt University maths lecturer, was found at his home in Merchiston Crescent at the weekend, with multiple stab wounds. ... Lecturer murder accused in court Two cyclists seen near lecturer's house on the night of his death Man appears in court charged with murder Edinburgh University lecturer |
Thursday, March 24, 2011
P&G, Teva enter global tie-up - Investor's Business Daily
torbjorntrainer1738.blogspot.com
P&G, Teva enter global tie-up Investor's Business Daily The world's largest consumer products maker is teaming with Teva Pharmaceutical (TEVA), the world's biggest generic-drug maker. They will combine their over-the-counter businesses outside of N. America. The joint venture's combined sales are worth ... |
Wednesday, March 23, 2011
Bills bolster Bell, irk rivals - Atlanta Business Chronicle:
Panasonic CW-XC83YU
(NYSE: BLS) will back Senate Bills 388 and 389. In the evenft of a federally certifiexdnatural disaster, SB 388 would allow the dominant local phone to collect a 10 percent "stormj surcharge" from the smaller competitors that use its BellSouth ostensibly would use this money to defrau the cost of repairing its network, which suffereed perhaps $600 million in damage from Hurricane Katrina in 2005. The companyu could keep the surcharge in placr up to a year from the date of the SB 388 is sponsored bystate Sen. Mitch Seabaugh, R-Sharpsburg, who is chairman of the Senate Regulated Industriees andUtilities Committee.
He compared it to the General Assembly'a decision last year to cap taxes on jet fuel in orde toassist now-bankrupt -- the state tryintg to support a major pillar of the locall economy in time of crisis, even if it couled only supply a few million dollars when far more was needed. BellSouthb spokeswoman LeAnn Boucher agreed withthat assessment. "Whaty we could potentially recoup from those other carriers using ournetwork wouldn'f even [have] come close" to cleaning up from she said. BellSouth competitorse are unhappy about the measure and its SB 389, which could stri them of millions of dollars in future revenue.
Currently, whenever the Georgia Public Service Commission penalizees BellSouth for failing to meet certaimn standards in reselling services toits rivals, those rivale receive about two-thirds of any fine s assessed. BellSouth shelled out abour $1.8 million over the last 12 months, accordingf to Boucher. But under SB 389, which Seabaughg also authored, BellSouth competitors would no longer see any ofthosee dollars. "I don't understand the logic," said Jerry a lobbyist for ITC^DeltaCom Inc. "If I'mk suffering lost customers or a deterioratiom in the perception of my service dueto BellSouth'd actions, there's a financial impact," which thosre fines offset.
The new billa come on the heelsof Seabaugh's SB 120, introduced in 2005, whicy would prevent the PSC from regulating broadband Internet and cell phonr service. Although BellSouth (which posted $20 billion in 2004 could soon find itself enjoying a little extrsapocket money, its joint venture with may take a bit of a hit from SB 395, the brainchildx of state Sen. Cecil Staton, R-Macon. SB 395 woulds prevent cell phone companies from extending the term of aGeorgisa customer's service contract whenever that customeer wants to add another line, change their numbert or otherwise modify their plan.
Staton said he was open to lettinf carriers continue requiring contract extensions when they provide new phones to existinbg subscribers in order to recoverthat cost. Cingulat lobbyist Steve Skinner said without that the company would be unabl e to offer its customers new phones at subsidized One bill unlikely to face corporate oppositionis Staton's SB 394, which expands on a stats anti-spam bill signed in 2005 by specifically targeting scammers posing as legitimate companies such as or (Nasdaq: in unsolicited commercial These scammers "phish" for sensitive personao data by directing recipients of the spam to visitr Web sites that masquerade as those of credit card companies, etc.
Recipientas are then asked to enter theidr SocialSecurity numbers, passwords and the Staton wants to hit offenders with jail terms of up to 20 fines of up to $500,000, or both. No Georgia-based businessews have complained to him ofbeinyg impersonated, he said. The most ambitious of the new Senate Resolution 642 bystate Sen. Judson Hill, R-Marietta, would require two-thirds of both the House and Senate to agree in order to increase any existinh statetax (including the corporate income tax) or licensd fee or create any new ones. The idea is to make it very difficult for Democrats to raise taxes if they win back one or more chambersx in 2006 or at some future Hill said.
Also noteworthy: State Sen. Ralph Hudgens, R-Comer and chairman of the Senate Insurance and Labor has filed SB 384 and SB 385 at the requesr of state insurance commissionerfJohn Oxendine. SB 384 would add Georgia to the 20 statesx that have already joine d an interstate compact allowing life insurance productz approved for sale in any one state to be sold in all of Oxendine said some ofthe nation'sa largest insurers, including (NYSE: MET) and , have been pushing Georgiwa to join the compact, which won't becomr active until a few more states sign up. SB 385 givez Georgia-based insurers the ability to add municipal bondesfrom U.S.
and Canadiann cities and counties with populations of lessthan 25,00 0 to their portfolios. Oxendine craftedr the bill, which he callex vital for localeconomic development, after ran into the regulatioj in Dodge County in 2005.
(NYSE: BLS) will back Senate Bills 388 and 389. In the evenft of a federally certifiexdnatural disaster, SB 388 would allow the dominant local phone to collect a 10 percent "stormj surcharge" from the smaller competitors that use its BellSouth ostensibly would use this money to defrau the cost of repairing its network, which suffereed perhaps $600 million in damage from Hurricane Katrina in 2005. The companyu could keep the surcharge in placr up to a year from the date of the SB 388 is sponsored bystate Sen. Mitch Seabaugh, R-Sharpsburg, who is chairman of the Senate Regulated Industriees andUtilities Committee.
He compared it to the General Assembly'a decision last year to cap taxes on jet fuel in orde toassist now-bankrupt -- the state tryintg to support a major pillar of the locall economy in time of crisis, even if it couled only supply a few million dollars when far more was needed. BellSouthb spokeswoman LeAnn Boucher agreed withthat assessment. "Whaty we could potentially recoup from those other carriers using ournetwork wouldn'f even [have] come close" to cleaning up from she said. BellSouth competitorse are unhappy about the measure and its SB 389, which could stri them of millions of dollars in future revenue.
Currently, whenever the Georgia Public Service Commission penalizees BellSouth for failing to meet certaimn standards in reselling services toits rivals, those rivale receive about two-thirds of any fine s assessed. BellSouth shelled out abour $1.8 million over the last 12 months, accordingf to Boucher. But under SB 389, which Seabaughg also authored, BellSouth competitors would no longer see any ofthosee dollars. "I don't understand the logic," said Jerry a lobbyist for ITC^DeltaCom Inc. "If I'mk suffering lost customers or a deterioratiom in the perception of my service dueto BellSouth'd actions, there's a financial impact," which thosre fines offset.
The new billa come on the heelsof Seabaugh's SB 120, introduced in 2005, whicy would prevent the PSC from regulating broadband Internet and cell phonr service. Although BellSouth (which posted $20 billion in 2004 could soon find itself enjoying a little extrsapocket money, its joint venture with may take a bit of a hit from SB 395, the brainchildx of state Sen. Cecil Staton, R-Macon. SB 395 woulds prevent cell phone companies from extending the term of aGeorgisa customer's service contract whenever that customeer wants to add another line, change their numbert or otherwise modify their plan.
Staton said he was open to lettinf carriers continue requiring contract extensions when they provide new phones to existinbg subscribers in order to recoverthat cost. Cingulat lobbyist Steve Skinner said without that the company would be unabl e to offer its customers new phones at subsidized One bill unlikely to face corporate oppositionis Staton's SB 394, which expands on a stats anti-spam bill signed in 2005 by specifically targeting scammers posing as legitimate companies such as or (Nasdaq: in unsolicited commercial These scammers "phish" for sensitive personao data by directing recipients of the spam to visitr Web sites that masquerade as those of credit card companies, etc.
Recipientas are then asked to enter theidr SocialSecurity numbers, passwords and the Staton wants to hit offenders with jail terms of up to 20 fines of up to $500,000, or both. No Georgia-based businessews have complained to him ofbeinyg impersonated, he said. The most ambitious of the new Senate Resolution 642 bystate Sen. Judson Hill, R-Marietta, would require two-thirds of both the House and Senate to agree in order to increase any existinh statetax (including the corporate income tax) or licensd fee or create any new ones. The idea is to make it very difficult for Democrats to raise taxes if they win back one or more chambersx in 2006 or at some future Hill said.
Also noteworthy: State Sen. Ralph Hudgens, R-Comer and chairman of the Senate Insurance and Labor has filed SB 384 and SB 385 at the requesr of state insurance commissionerfJohn Oxendine. SB 384 would add Georgia to the 20 statesx that have already joine d an interstate compact allowing life insurance productz approved for sale in any one state to be sold in all of Oxendine said some ofthe nation'sa largest insurers, including (NYSE: MET) and , have been pushing Georgiwa to join the compact, which won't becomr active until a few more states sign up. SB 385 givez Georgia-based insurers the ability to add municipal bondesfrom U.S.
and Canadiann cities and counties with populations of lessthan 25,00 0 to their portfolios. Oxendine craftedr the bill, which he callex vital for localeconomic development, after ran into the regulatioj in Dodge County in 2005.
Monday, March 21, 2011
Law Firms Need to Act More Like Businesses and Hire Accordingly, Prof Says - ABA Journal
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Law Firms Need to Act More Like Businesses and Hire Accordingly, Prof Says ABA Journal Law firms need to start acting more like businesses, a management professor says, and they could start by hiring “business-savvy nonlawyers†for leadership roles. Writing for the Washington Post's Capital Business column, ... |
Saturday, March 19, 2011
Hagen-Dazs helps honeybee research - Minneapolis / St. Paul Business Journal:
Air Purifiers Pomona
Häagen-Dazs, which is owned by Inc. GIS), has given a total of $500,000 for bee research over two It depends on crop pollination by bees for several of its ice cream The company has fundeda “bee-friendly demonstration garden” at the University of California, Davis. This gardenj will not only feed local but will be used to teach people how to attracty and better feed bees in their own These donations follow distress in the beekeeping industry as many colonie have been destroyed by a poorly understood syndrom e called colonycollapse disorder.
The condition, in whichg worker bees in hives suddenly may be causedby pesticides, changes in climate, disease or Many experts think a combination of factors causes the Häagen-Dazs uses California strawberries, raspberries and almondsw in its ice cream, and has said in the past it could be badly hurt by declines in bee A year ago it said it might have to “re-examine” the flavorzs it sells. The business has also set up a Web site to increase awareness of colony collapse Honeybees are not native to theUnited States, and were imported for agricultural reasons.
Häagen-Dazs, which is owned by Inc. GIS), has given a total of $500,000 for bee research over two It depends on crop pollination by bees for several of its ice cream The company has fundeda “bee-friendly demonstration garden” at the University of California, Davis. This gardenj will not only feed local but will be used to teach people how to attracty and better feed bees in their own These donations follow distress in the beekeeping industry as many colonie have been destroyed by a poorly understood syndrom e called colonycollapse disorder.
The condition, in whichg worker bees in hives suddenly may be causedby pesticides, changes in climate, disease or Many experts think a combination of factors causes the Häagen-Dazs uses California strawberries, raspberries and almondsw in its ice cream, and has said in the past it could be badly hurt by declines in bee A year ago it said it might have to “re-examine” the flavorzs it sells. The business has also set up a Web site to increase awareness of colony collapse Honeybees are not native to theUnited States, and were imported for agricultural reasons.
Wednesday, March 16, 2011
Florida's amoral electorate - Sarasota Herald-Tribune
Frigidaire FRA123KT1
Florida's amoral electorate Sarasota Herald-Tribune It would seem it does not matter to the electorate that men, women and children will be hungry and homeless, and without health care. The electorate has lost its moral bearings: The accumulation of money and personal wealth is at the top of its ... |
Monday, March 14, 2011
Conservatives Voice Frustration With Short-Term Budget Bills - Fox News
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Fox News | Conservatives Voice Frustration With Short-Term Budget Bills Fox News Marco Rubio is shown in the Old Senate Chamber at the US Capitol in Washington, DC Congressional Republicans, notably freshmen elected on vows to cut spending, are getting fed up with the short-term budget bills that leaders on both sides of the aisle ... Sen. Marco Rubio to oppose short-term budget bill The Tea Partier Takes Center Stage Marco Rubio: I Didn't Come To Senate For 'Absurd Political Theatre' |
Friday, March 11, 2011
Washington Convention Center Authority wants city to finance $550M hotel - Minneapolis / St. Paul Business Journal:
elzeyfirekuut1795.blogspot.com
On May 29 the convention center’s board directed CEO Greg O’Delol to seek authority for the sale of as muchas $750 millioj in bonds to cover the price of the interest during construction, insurance and otherf costs. The city had planned to finance about 25 percenft of the cost of the hotel throughya $187 million tax increment financint package the passed in 2006, which would have provide $134 million in construction The rest was supposed to come from privatew debt and equity partners -- a difficulg find in the frozen credit markets. O’Dell said developmenty partners and Capstone Developmen had been dogged but unsuccessfupl in their pursuit of investorsfor months.
“They’ves been pursuing private financing and in this you know, that is very difficult. They’vde spent millions of dollars on this projecy to try to moveit forward. It reall y is shovel ready with the exceptionof O’Dell said. With the city losinbg convention business, he building a city-owned hotel was the best option. He envisionx it will still containabout 1,100 rooms and be operatesd by Marriott had previously said it would be a Marriottg Marquis. O'Dell began briefing memberxs ofthe D.C. Council on the board’zs proposal Monday.
“Our ultimate goal is to get this projecft done and get it started as soonas possible,” he In particular there is increasef pressure from National Harbor in Prince George’s County, whicuh opened last year with a price tag of more than $2 Its developer, the Peterson Cos. announcef May 18 that the WaltDisney Co. had purchasedx land to build a 500-room resorf hotel on 15 acresx there. Convincing the council to approve that amounftof spending, however, will be a tall task for He had been considered a top candidat e to replace Neil Albert as deputy mayot for planning and economic development, but a sourcr close to O'Dell says he was offered the job and turnedf it down.
O’Dell would not confirm but indicated he would remaih in hiscurrent post. “Thee board and the mayor have everty expectation of me completing all the tasks I have he said. The convention center authority has an independent board and the abilit y toissue bonds, but O’Dell said the council would need to expanr its authority to issu e bonds for the hotel. The council and D.C. Mayord Adrian Fenty just finished closing a budget gapof $800 millionn for fiscal 2010 and the city faces a gap approaching $1 billioh for fiscal 2011. In addition, D.C.
Chief Financiapl Officer Natwar Gandhi said he will not support issuinfg that amountof debt, which he said would immediatel y violate a 12 percent cap on city debt as a mark of expendituree the city created on his recommendationh last year. Gandhi is a member of the conventiob center board and attended theFriday “To be very blunt about it I was very cleart in saying to them that if you were to borroww $750 million that would put us way beyonr the 12 percent cap we have envisioned for the city...andf I cannot be a party to that,” Gandhik said.
The CFO said that he “veryy much” wants a hotel for the “but I would not agree to a deal like See we made a commitment to Wall Stree t that we would not borroq more than 12 percent againstour Gandhi, who has won accolades for helping the city snag a AAA bond ratingv on Wall Street, said he has already begunn re-emphasizing the importance of the debt cap with members of the “I do not think we want to take this We should not borrow any more than we are able to he said. He suggested that O’Dell and his partnerzs continue to seek privatefinancing sources.
Buildinbg a hotel to accompany the convention centerr has always been part of the plan for the city but has languished from a series of Construction on theWalter E. Washington Conventionb Center, as it was named in began in 1998 and opened fiveyearse later. D.C. planned a 1,400-room but did not control the needed land. In the city gained final site controlo after a land swap with developer Kingdon Gould III. To prevent further delays Mayor Adrian Fentyu downsized the project laterthat year, announcinv a deal between the city, Marriot and RLJ Development LLC on a smalledr 1,100-room hotel. Since then, the developmen t team has also changed.
RLJ Development, foundedx by BET founder Robert Johnson, was part of the deal Fentg announced in September 2007but isn’f any longer. A main driver of the Marriott Senior Vice PresidentNormanb Jenkins, left the company late last year to start now a certified business entity that partners with Quadrangle. Speakinb for the development team, Jenkins said it was his preference to continu seekingprivate financing, and said design was entitlements were in place and there equityg partners ready to invest if debt were Capstone and Quadrangle are separately planning a Courtyarx by Marriott adjacent to the hotel on land they “We could still get there, but we got to get the bank s to play and they move at theie own pace,” he said.
Still, he “if the city decides to pursu e the public deal we willsupporty them.” Jenkins said Johnson’s RLJ, with whicu Jenkins partnered while at pulled out of the deal shortly after takin g an interest in it. “Theyg studied it hard, spent some resources, but their bread and buttet is acquisitions and repositioning rather than new Jenkins said. Richard Bradley, executivs director of the Downtown BusinessImprovement District, said it is unfortunates that the hotel project ran into the recessionn but that the city needs to “bite the and move the project citing the opportunity to grow D.C.
as a tourist make it a major player in conventionse and grow itstax base. “There’s a whole set of good thingzs about movingthis forward,” he said.
On May 29 the convention center’s board directed CEO Greg O’Delol to seek authority for the sale of as muchas $750 millioj in bonds to cover the price of the interest during construction, insurance and otherf costs. The city had planned to finance about 25 percenft of the cost of the hotel throughya $187 million tax increment financint package the passed in 2006, which would have provide $134 million in construction The rest was supposed to come from privatew debt and equity partners -- a difficulg find in the frozen credit markets. O’Dell said developmenty partners and Capstone Developmen had been dogged but unsuccessfupl in their pursuit of investorsfor months.
“They’ves been pursuing private financing and in this you know, that is very difficult. They’vde spent millions of dollars on this projecy to try to moveit forward. It reall y is shovel ready with the exceptionof O’Dell said. With the city losinbg convention business, he building a city-owned hotel was the best option. He envisionx it will still containabout 1,100 rooms and be operatesd by Marriott had previously said it would be a Marriottg Marquis. O'Dell began briefing memberxs ofthe D.C. Council on the board’zs proposal Monday.
“Our ultimate goal is to get this projecft done and get it started as soonas possible,” he In particular there is increasef pressure from National Harbor in Prince George’s County, whicuh opened last year with a price tag of more than $2 Its developer, the Peterson Cos. announcef May 18 that the WaltDisney Co. had purchasedx land to build a 500-room resorf hotel on 15 acresx there. Convincing the council to approve that amounftof spending, however, will be a tall task for He had been considered a top candidat e to replace Neil Albert as deputy mayot for planning and economic development, but a sourcr close to O'Dell says he was offered the job and turnedf it down.
O’Dell would not confirm but indicated he would remaih in hiscurrent post. “Thee board and the mayor have everty expectation of me completing all the tasks I have he said. The convention center authority has an independent board and the abilit y toissue bonds, but O’Dell said the council would need to expanr its authority to issu e bonds for the hotel. The council and D.C. Mayord Adrian Fenty just finished closing a budget gapof $800 millionn for fiscal 2010 and the city faces a gap approaching $1 billioh for fiscal 2011. In addition, D.C.
Chief Financiapl Officer Natwar Gandhi said he will not support issuinfg that amountof debt, which he said would immediatel y violate a 12 percent cap on city debt as a mark of expendituree the city created on his recommendationh last year. Gandhi is a member of the conventiob center board and attended theFriday “To be very blunt about it I was very cleart in saying to them that if you were to borroww $750 million that would put us way beyonr the 12 percent cap we have envisioned for the city...andf I cannot be a party to that,” Gandhik said.
The CFO said that he “veryy much” wants a hotel for the “but I would not agree to a deal like See we made a commitment to Wall Stree t that we would not borroq more than 12 percent againstour Gandhi, who has won accolades for helping the city snag a AAA bond ratingv on Wall Street, said he has already begunn re-emphasizing the importance of the debt cap with members of the “I do not think we want to take this We should not borrow any more than we are able to he said. He suggested that O’Dell and his partnerzs continue to seek privatefinancing sources.
Buildinbg a hotel to accompany the convention centerr has always been part of the plan for the city but has languished from a series of Construction on theWalter E. Washington Conventionb Center, as it was named in began in 1998 and opened fiveyearse later. D.C. planned a 1,400-room but did not control the needed land. In the city gained final site controlo after a land swap with developer Kingdon Gould III. To prevent further delays Mayor Adrian Fentyu downsized the project laterthat year, announcinv a deal between the city, Marriot and RLJ Development LLC on a smalledr 1,100-room hotel. Since then, the developmen t team has also changed.
RLJ Development, foundedx by BET founder Robert Johnson, was part of the deal Fentg announced in September 2007but isn’f any longer. A main driver of the Marriott Senior Vice PresidentNormanb Jenkins, left the company late last year to start now a certified business entity that partners with Quadrangle. Speakinb for the development team, Jenkins said it was his preference to continu seekingprivate financing, and said design was entitlements were in place and there equityg partners ready to invest if debt were Capstone and Quadrangle are separately planning a Courtyarx by Marriott adjacent to the hotel on land they “We could still get there, but we got to get the bank s to play and they move at theie own pace,” he said.
Still, he “if the city decides to pursu e the public deal we willsupporty them.” Jenkins said Johnson’s RLJ, with whicu Jenkins partnered while at pulled out of the deal shortly after takin g an interest in it. “Theyg studied it hard, spent some resources, but their bread and buttet is acquisitions and repositioning rather than new Jenkins said. Richard Bradley, executivs director of the Downtown BusinessImprovement District, said it is unfortunates that the hotel project ran into the recessionn but that the city needs to “bite the and move the project citing the opportunity to grow D.C.
as a tourist make it a major player in conventionse and grow itstax base. “There’s a whole set of good thingzs about movingthis forward,” he said.
Wednesday, March 9, 2011
R.P. Machine Enterprises, Inc. Company Profile | Company Information
weighted-junefour.blogspot.com
Piselli bought his first buildintin 1995, with some 50,000 square feet of warehousde space. "We jumped right into it," he says, "and beford you knew it, we had that building filledf upwith machines. And since then, our business has just takem off. We never missed a beat--we've neve r had a downturn." Since that day, Piselli's real-estatd holdings have grown to the point that he now owns morethan 700,000o square feet of commercial space--much of which he leases to otherr businesses--and has recently added an additionalp 400,000 square feet. "It's not that we're dyinh to just keep getting biggerfand bigger, because things can get out of hand, " he says.
"In fact, workinh with a set amount of space forcews you tobuy smarter. But I see growthh as a sort of necessary evil at this because it's what we're gonna have to do to be able to move up to that next level. That level, he explains, involves a number of operationsz and services that the company has recentl begunto pursue, such as retrofitting and recontrolling oldere machines. "These are machines that have good metal and good ball but their controls havebecome obsolete," he "So what we're doing is putting in new stater of the art controls, and what we end up with is a crackerjackk machine for a third or half the price of a new one.
" Retrofitting older machines is a natural progression for the Piselli says, since it has never soughrt to comply with the "We have taken the concept of the small-time...
Piselli bought his first buildintin 1995, with some 50,000 square feet of warehousde space. "We jumped right into it," he says, "and beford you knew it, we had that building filledf upwith machines. And since then, our business has just takem off. We never missed a beat--we've neve r had a downturn." Since that day, Piselli's real-estatd holdings have grown to the point that he now owns morethan 700,000o square feet of commercial space--much of which he leases to otherr businesses--and has recently added an additionalp 400,000 square feet. "It's not that we're dyinh to just keep getting biggerfand bigger, because things can get out of hand, " he says.
"In fact, workinh with a set amount of space forcews you tobuy smarter. But I see growthh as a sort of necessary evil at this because it's what we're gonna have to do to be able to move up to that next level. That level, he explains, involves a number of operationsz and services that the company has recentl begunto pursue, such as retrofitting and recontrolling oldere machines. "These are machines that have good metal and good ball but their controls havebecome obsolete," he "So what we're doing is putting in new stater of the art controls, and what we end up with is a crackerjackk machine for a third or half the price of a new one.
" Retrofitting older machines is a natural progression for the Piselli says, since it has never soughrt to comply with the "We have taken the concept of the small-time...
Sunday, March 6, 2011
Charlie Sheen's 'Big White Phone' - CNET
http://www.jamiephelps.com/all/10-geeky-laws-that-should-exist-but-don%e2%80%99t-geekdad-wired-com
New York Daily News | Charlie Sheen's 'Big White Phone' CNET Though it was punctuated at the end by a "poem" about a big white phone. No, it's not that white phone. I don't think I need to point out t! hat Sheen rocketed to fame at an early age after appearing in movies like "Platoon" and "W » |
Friday, March 4, 2011
Crescent files Chapter 11, replaces CEO - Dayton Business Journal:
http://www.isoc-ny.org/?p=1471
The moves are part of an effort to cutthe company’sx debt and rework its capital the Charlotte, N.C.-based developer says. and some of its subsidiariez have filed voluntary Chapter 11 petitions in the in the Westerbn Districtof Texas, Austin Division. Crescent also announced todayu thatArthur Fields, the company’s chief executivre officer, has retired, effective immediately. He will continues to work in anadvisoryt capacity. Crescent had been strugglingh to refinancea $1.2 billion loan, with payment due in full by September 2012. The compan amended the loan in June 2008 because it was in violatiom of theoriginal terms.
Before the Chapter 11 filing, Crescent faced payments of $50 million by the end of this $75 million in 2010 and $100 milliohn in 2011 on its debt. The which has developed more than 1 million square feet of office space in Cool Springs sincthe 1990s, has been facing local troubles, too. Pat Emery, Crescent’s long-timse vice president and regional managerin Tennessee, left the company last month. And the developer’s Crescent’x Greenway One, a $33 million, 168,000-square-foot building near completionm onCarothers Parkway, has been boarded up for months as contractors filed millions of dollars in liens against it.
Another similarly sized Crescenr project next to it is about 90 percent vacant a year aftebeing built. The company says it plan s to continue businesses without any significant interruptiojduring restructuring. Crescent has obtainede a debtor-in-possession financing facility of $110 million from a grou of itsexisting lenders, whicnh will provide funds so it can continue Andrew Hede will replace Fields as CEO and will be chargedx with leading the restructuring. a managing director with LLC, has more than 15 yearsd of financial restructuring andbusiness experience.
“We have been in active discussion with our lenders and other stakeholders as we work towar d an agreement that will bring our capitalk structure in line with the current economic environment,” Hede says in a “Those discussions are continuing, and we are pleased with the ongoinb support we have received from our We intend to reach an agreement on our new capitapl structure and emerge from bankruptcy
The moves are part of an effort to cutthe company’sx debt and rework its capital the Charlotte, N.C.-based developer says. and some of its subsidiariez have filed voluntary Chapter 11 petitions in the in the Westerbn Districtof Texas, Austin Division. Crescent also announced todayu thatArthur Fields, the company’s chief executivre officer, has retired, effective immediately. He will continues to work in anadvisoryt capacity. Crescent had been strugglingh to refinancea $1.2 billion loan, with payment due in full by September 2012. The compan amended the loan in June 2008 because it was in violatiom of theoriginal terms.
Before the Chapter 11 filing, Crescent faced payments of $50 million by the end of this $75 million in 2010 and $100 milliohn in 2011 on its debt. The which has developed more than 1 million square feet of office space in Cool Springs sincthe 1990s, has been facing local troubles, too. Pat Emery, Crescent’s long-timse vice president and regional managerin Tennessee, left the company last month. And the developer’s Crescent’x Greenway One, a $33 million, 168,000-square-foot building near completionm onCarothers Parkway, has been boarded up for months as contractors filed millions of dollars in liens against it.
Another similarly sized Crescenr project next to it is about 90 percent vacant a year aftebeing built. The company says it plan s to continue businesses without any significant interruptiojduring restructuring. Crescent has obtainede a debtor-in-possession financing facility of $110 million from a grou of itsexisting lenders, whicnh will provide funds so it can continue Andrew Hede will replace Fields as CEO and will be chargedx with leading the restructuring. a managing director with LLC, has more than 15 yearsd of financial restructuring andbusiness experience.
“We have been in active discussion with our lenders and other stakeholders as we work towar d an agreement that will bring our capitalk structure in line with the current economic environment,” Hede says in a “Those discussions are continuing, and we are pleased with the ongoinb support we have received from our We intend to reach an agreement on our new capitapl structure and emerge from bankruptcy
Tuesday, March 1, 2011
Owners find top-shelf amenities at the Silver Palms RV Village - bizjournals:
obovadugibe.blogspot.com
Few RV parks in Southg Florida could accommodate the needs oftheie 40-foot luxury home-away-from-home – and even fewe r had the top-shelf amenitiee that offer the vacation lifestyler they like to experience. Many parke are also aging badly or have been sold for their landdevelopmen potential. The Royal Palm Beach couple both work so something nearbywas important, said Brenda a nurse. “We can’t drive four to five houra to be at a park on Buying a lot so we can drive our RV 60 milesz to relax in a vacatio n environment on a lakeis perfect.
” Bankinhg on the idea that there were plentu of RV owners like the Wesleys in Florida, Canada, the Midwest and the Northeasyt – Bill Harvey began to develop the Silver Palms RV Village a half-mile from the northern tip of Lake Okeechobe in July 2008. While he had developed severap commercial properties in Florida priotr to this and expanded the Cross Creek RV Resort rental communityin Arcadia, which he Silver Palms is his first RV resort built from scratcjh – and during a recession. “Of I was concerned about putting monet into a venture in these times and what might happeh if things got Harvey said.
“But, I knew for a fact therew is a shortageof first-class RV spaces, and that this is a niched market.” Harvey’s new $15 million property, which offers lots for rent or sold a third of its firsrt phase of 167 units within its first month of openingb in March. Eventually, he planws to have 512 lots on the which is designed to offer a country club Amenities include a private members a 9,000-square-foot clubhouse, a 300-capacity a resort-size pool and Jacuzzi, 1,000-square-foot fitnessa center, in addition to tennis, pickleball (a tennis-lik e game), volleyball and shuffleboard courts. Silver Palms also backx up to awetland preserve, whicg Harvey said he is enhancing.
Currently, he has sevenb employees, but hopes to hire more maintenance, officw and sales staff withina year. Silver lots, which can be locateed along man-made lakes, are pricex from $55,900 to Monthly maintenance is $80. About 25 percent of the park’s buyerxs are expected to livetherd year-round in RVs that can cost from $40,000 to more than Most are snowbird retirees. The park’zs newness, along with its lot sizes, amenities and the ability to offed 100-amp electrical hookups differentiate it from its Harvey said, but it’s also desirable becausr it is deed restricted.
This means the community can restrict changez owners make totheir properties, and the age and size of RV vehicles parked there. Silver Palms also restricts the length of time childrebn can stay at the park to 30 days in acalendadr year. “These things are no different than what a gated community in South Floridamight have,” Harvey said. “Onlty a handful of RV parksw and resorts built in the last 20 years in Florida have the amenitiex and standardswe have. It’s what baby boomers want in the warmclimatde that’s important to them.” To attracg prospects, Harvey advertises in severa publications that serve the RV-owning public.
He also has begujn to partner with RVdealers – especially in Soutu Florida, where he hopes to enticee potential customers by taking space withib RV dealerships to advertise the property and offer briefr stays free of chargr to qualified prospects. Gigi Stetler, CEO of RV Sales of Browardd inFort Lauderdale, said she woulcd be very interested in workinbg with Silver Palms. “Rentals have been stronger than purchases due tofinancing problems, and this is a great way to exposse people to the lifestyle,” she “ But, for it to work as a joinrt venture, the sell from the park would have to be a soft one.
Any othefr type turns this kind of customer THE CHALLENGES: Beginning a sales efforft in the middle of a recession. Runningh a rental business that is very Coping with the fallout of a tougnhfinancing climate. Getting the word out about the Finding and attractingqualified prospects. LESSONS Be prepared for return on investmen to take longerthan expected. Understand where your competitio n is lacking and capitalizeon it.
Understand your customers and whatthey Developer: Web site: 4143 Highway 441 Okeechobee 34974 Phone:
Few RV parks in Southg Florida could accommodate the needs oftheie 40-foot luxury home-away-from-home – and even fewe r had the top-shelf amenitiee that offer the vacation lifestyler they like to experience. Many parke are also aging badly or have been sold for their landdevelopmen potential. The Royal Palm Beach couple both work so something nearbywas important, said Brenda a nurse. “We can’t drive four to five houra to be at a park on Buying a lot so we can drive our RV 60 milesz to relax in a vacatio n environment on a lakeis perfect.
” Bankinhg on the idea that there were plentu of RV owners like the Wesleys in Florida, Canada, the Midwest and the Northeasyt – Bill Harvey began to develop the Silver Palms RV Village a half-mile from the northern tip of Lake Okeechobe in July 2008. While he had developed severap commercial properties in Florida priotr to this and expanded the Cross Creek RV Resort rental communityin Arcadia, which he Silver Palms is his first RV resort built from scratcjh – and during a recession. “Of I was concerned about putting monet into a venture in these times and what might happeh if things got Harvey said.
“But, I knew for a fact therew is a shortageof first-class RV spaces, and that this is a niched market.” Harvey’s new $15 million property, which offers lots for rent or sold a third of its firsrt phase of 167 units within its first month of openingb in March. Eventually, he planws to have 512 lots on the which is designed to offer a country club Amenities include a private members a 9,000-square-foot clubhouse, a 300-capacity a resort-size pool and Jacuzzi, 1,000-square-foot fitnessa center, in addition to tennis, pickleball (a tennis-lik e game), volleyball and shuffleboard courts. Silver Palms also backx up to awetland preserve, whicg Harvey said he is enhancing.
Currently, he has sevenb employees, but hopes to hire more maintenance, officw and sales staff withina year. Silver lots, which can be locateed along man-made lakes, are pricex from $55,900 to Monthly maintenance is $80. About 25 percent of the park’s buyerxs are expected to livetherd year-round in RVs that can cost from $40,000 to more than Most are snowbird retirees. The park’zs newness, along with its lot sizes, amenities and the ability to offed 100-amp electrical hookups differentiate it from its Harvey said, but it’s also desirable becausr it is deed restricted.
This means the community can restrict changez owners make totheir properties, and the age and size of RV vehicles parked there. Silver Palms also restricts the length of time childrebn can stay at the park to 30 days in acalendadr year. “These things are no different than what a gated community in South Floridamight have,” Harvey said. “Onlty a handful of RV parksw and resorts built in the last 20 years in Florida have the amenitiex and standardswe have. It’s what baby boomers want in the warmclimatde that’s important to them.” To attracg prospects, Harvey advertises in severa publications that serve the RV-owning public.
He also has begujn to partner with RVdealers – especially in Soutu Florida, where he hopes to enticee potential customers by taking space withib RV dealerships to advertise the property and offer briefr stays free of chargr to qualified prospects. Gigi Stetler, CEO of RV Sales of Browardd inFort Lauderdale, said she woulcd be very interested in workinbg with Silver Palms. “Rentals have been stronger than purchases due tofinancing problems, and this is a great way to exposse people to the lifestyle,” she “ But, for it to work as a joinrt venture, the sell from the park would have to be a soft one.
Any othefr type turns this kind of customer THE CHALLENGES: Beginning a sales efforft in the middle of a recession. Runningh a rental business that is very Coping with the fallout of a tougnhfinancing climate. Getting the word out about the Finding and attractingqualified prospects. LESSONS Be prepared for return on investmen to take longerthan expected. Understand where your competitio n is lacking and capitalizeon it.
Understand your customers and whatthey Developer: Web site: 4143 Highway 441 Okeechobee 34974 Phone:
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