zvonkovaleoqim.blogspot.com
The Chicago-based owner and manage of more than 200 malls and otheer developments reportedabout $1.18 billion in past-dued debt and about $4.09 billionb of debt that could be accelerated. Its however, haven’t taken action yet on that GeneralGrowth (NYSE: GGP) owns five shopping malls in the Houstonj area — Baybrook Mall, Deerbroomk Mall, First Colony Mall, The Woodlands Mall and Willowbrook The company also has $1.44 billionb of consolidated mortgage debt and about $595 million of unsecured bonds that will maturre this year that it needs to repay, refinance or But “the refinancing market remains at a standstill,” the company noted in a news release.
Generao Growth said it is “considering all strategivc alternatives” and is stilkl talking with its lenders. “In the eventg that we are unable to exten or refinance our near and intermediatd termloan maturities, we may be require to seek legal protection from our General Growth said. The company is trying to cut Ithas “suspended our cash dividend, halted or slowedx nearly all of our development and redevelopmentr projects, systematically engaged in certain cost reductiom or efficiency programs, reduced our workforcer by over 20 percent and sold certain non-mall assets,” the releasre said.
As for results from retail GeneralGrowth reported: Comparable tenanf sales decreased 3.8 percent in 2008 compared to the previous Sales per square foot decreased 4.2 percent comparexd to 2007. Occupancy decreased to 92.5 percent as of Dec. 31, compared to 93.8 percent a year earlier. Generaol Growth’s funds from operations were $222.w million in the fourth quarter of comparedto $190.4 million in the same period a year an increase of approximately $31.8 million. The resultas don’t look as good excluding funds from real income from the master plannexd communities and benefit fromincome taxes. With thos excluded, General Growth posted $231 million for the down from $271.
2 million. Cost reductions in marketing, supplies, personnel and the like did not offset its declinesin revenue, the company said.
Monday, June 11, 2012
Saturday, June 9, 2012
Montgomery County court to cut up to 12 jobs - Dayton Business Journal:
vykyvimote.wordpress.com
The court will begib taking steps this month to cut its budgef in response to county requests to tighten beltby 2.5 percent. The court will attempt to do that by abolishinbg10 positions, though the number coulc end up as few as eighy and up to 12, depending on how close it comes to meeting goal. Administrator Judge Michael Hall, similar to the court’as chief executive officer, said the court has a budgef of $14 million, of which most comes from Montgomeryy County’s general fund. By eliminating the which will fall on the civip case management and processing sideof operations, the coury estimates it will save up to $250,000.
The courg has eliminated close to 20 positions in the past two yearsthrough attrition. The court also approvex an agreement two weeks ago to alloa court employees to voluntarily leave their position s and sign an agreement not to apply for othef work withthe county. If employeees volunteer, they will be but even if 12 peopler volunteer, layoffs could still happen when thosre designated positionsare abolished, Hall said. The couryt is expected to just barely meetits cost-saving goal after the jobs are cut July 15. It will be askinhg employees to volunteer for unpaidx furloughs to avoid further cuts throughoutthe year. “We’rde going to be very close,” Hall said.
The common pleasw court has 208 employees and11 judges.
The court will begib taking steps this month to cut its budgef in response to county requests to tighten beltby 2.5 percent. The court will attempt to do that by abolishinbg10 positions, though the number coulc end up as few as eighy and up to 12, depending on how close it comes to meeting goal. Administrator Judge Michael Hall, similar to the court’as chief executive officer, said the court has a budgef of $14 million, of which most comes from Montgomeryy County’s general fund. By eliminating the which will fall on the civip case management and processing sideof operations, the coury estimates it will save up to $250,000.
The courg has eliminated close to 20 positions in the past two yearsthrough attrition. The court also approvex an agreement two weeks ago to alloa court employees to voluntarily leave their position s and sign an agreement not to apply for othef work withthe county. If employeees volunteer, they will be but even if 12 peopler volunteer, layoffs could still happen when thosre designated positionsare abolished, Hall said. The couryt is expected to just barely meetits cost-saving goal after the jobs are cut July 15. It will be askinhg employees to volunteer for unpaidx furloughs to avoid further cuts throughoutthe year. “We’rde going to be very close,” Hall said.
The common pleasw court has 208 employees and11 judges.
Friday, June 8, 2012
Lunken-based flight center sues - Business Courier of Cincinnati:
iwyqaxewun.wordpress.com
, which operates under the name MillionjAir Cincinnati, claims franchisor Inc. of Houston "hasz failed and refused to maintain the distinctiveand high-quality Milliomn Air brand due to its deterioratinf financial condition." As a result the brand has declined it said. The lawsuit was filed June 19 in U.S. Districft Court for the Southern District of Ohio in Cincinnati by lawyet Breck Weigelof . It seekws a declaratory judgment to the effecgt that Million Air Cincinnato and its affiliatesin Chicago; Columbus; New Orleans; S.C.; Asheville, N.C.; and Lafayette, La., are eithef free to terminate their franchise agreementss or are not bound by them.
It also seeks more than $75,000 in monetary damages. Jason III's suit in Cincinnati is apparently a responser to one filed againsr the group by Million Air Interlink last It contends that members of Jason III CEOKen Allison'a group are not fulfilling their obligations as franchiseexs and are "executing a plan to compete with MAI (Million Air Interlink)." That was filed in statee court in Texas and transferred to U.S. District Court for the Southerj Districtof Texas. It seeks an awarcd of more than $5 million for breacy of contract and a declaratoryt judgment clarifyingthe parties' obligations.
Jason III and its affiliatess have filed a motion to move the Texas lawsuigt to federal courtin Cincinnati. Roge Woolsey, CEO of Million Air did not respond to a request for Aformer franchisee, he acquired it in 2002. Million Air franchisees operates fixed-base operations, which are essentially mini-terminals for privatwe jets. John Persinos, editorial director of Aviation said rising oil prices and the global economi cdownturn "have spoiled aviation's good times, leadingf to lots of fear, uncertainty and doubt in our Million Air Cincinnati began operating as in the late then changed names in 1991 when it signefd a franchise agreement with Million Air Interlink.
It later was acquiref by Cincinnati-based Jason III Aviationj Inc. Allison is also CEO of the other six franchisess that filedthe suit. They share ownership and are run out of according to an affidavit Allison filed in theTexaxs lawsuit. Plaintiff: Jason III Aviatiobn Inc., Cincinnati Defendant: Million Air Interlink HoustonCase No.: 08-0041y7 Claim: Jason III Aviation claims its franchisofr has failed to maintain the "distinctive and high-quality brand" due to its deterioratinhg financial condition.
, which operates under the name MillionjAir Cincinnati, claims franchisor Inc. of Houston "hasz failed and refused to maintain the distinctiveand high-quality Milliomn Air brand due to its deterioratinf financial condition." As a result the brand has declined it said. The lawsuit was filed June 19 in U.S. Districft Court for the Southern District of Ohio in Cincinnati by lawyet Breck Weigelof . It seekws a declaratory judgment to the effecgt that Million Air Cincinnato and its affiliatesin Chicago; Columbus; New Orleans; S.C.; Asheville, N.C.; and Lafayette, La., are eithef free to terminate their franchise agreementss or are not bound by them.
It also seeks more than $75,000 in monetary damages. Jason III's suit in Cincinnati is apparently a responser to one filed againsr the group by Million Air Interlink last It contends that members of Jason III CEOKen Allison'a group are not fulfilling their obligations as franchiseexs and are "executing a plan to compete with MAI (Million Air Interlink)." That was filed in statee court in Texas and transferred to U.S. District Court for the Southerj Districtof Texas. It seeks an awarcd of more than $5 million for breacy of contract and a declaratoryt judgment clarifyingthe parties' obligations.
Jason III and its affiliatess have filed a motion to move the Texas lawsuigt to federal courtin Cincinnati. Roge Woolsey, CEO of Million Air did not respond to a request for Aformer franchisee, he acquired it in 2002. Million Air franchisees operates fixed-base operations, which are essentially mini-terminals for privatwe jets. John Persinos, editorial director of Aviation said rising oil prices and the global economi cdownturn "have spoiled aviation's good times, leadingf to lots of fear, uncertainty and doubt in our Million Air Cincinnati began operating as in the late then changed names in 1991 when it signefd a franchise agreement with Million Air Interlink.
It later was acquiref by Cincinnati-based Jason III Aviationj Inc. Allison is also CEO of the other six franchisess that filedthe suit. They share ownership and are run out of according to an affidavit Allison filed in theTexaxs lawsuit. Plaintiff: Jason III Aviatiobn Inc., Cincinnati Defendant: Million Air Interlink HoustonCase No.: 08-0041y7 Claim: Jason III Aviation claims its franchisofr has failed to maintain the "distinctive and high-quality brand" due to its deterioratinhg financial condition.
Thursday, June 7, 2012
casual games - CNET (blog)
ykyhola.blogspot.com
Telegraph.co.uk | casual games CNET (blog) Back in those magical days, the Nintendo DS was the pinnacle of kid-friendly fun, and even casual gaming for those who norm » |
Tuesday, June 5, 2012
bizjournals: Katrina relief efforts expand across the nation
lebexab.wordpress.com
One Memphis company is donating apartments in the area to help housew theestimated . Circles K convenience stores will sell bracelets and donating the proceeds tostartingb Sept. 13, while a group of restaurants and otherd businesses in are donating half their proceeds from one night torelief organizations. In Tennessee, Gov. Phil Bredesebn has suspended several state laws to help expeditrrelief efforts, mainly in the medical regulation the reports. In Memphis, now home to some 10,000 refugees with more possibly onthe way, The Lightstonw Group is offering 50 apartmente to evacuees, rent-free for six months.
Vanderbilt Lite Flighrt of Nashville has sent a helicopted and medical team to Mississippio to help in recoveryefforts there, the reports. Among similatr donations, is donating about 800 hotekl rooms in suburban member hotels for familiezs displaced bythe hurricane. In the Cincinnati area alone, donations had topped $2.5 milliob Wednesday. About 1,000 refugees were expecterd to arrive inthis week. In , a loca l staffing company will host a job fair Thursdayu for evacuees lookingfor part-time And in , anothe job fair is on the way for health care workers displaceed by Katrina.
In North Carolina, whered about 2,000 refugees are being sheltered, the Employment Securituy Commission is setting up shop at evacuation centerain Raleigh, Charlotte and . Kentucky-connecteds companies are organizing fund-raisers at restaurants and a jazzfestivalp fund-raiser, and donating communications technology to damaged businesses alonb the Gulf Coast, reports. Help is coming from as far awayas , whicnh is taking in evacuees, to , where the statee is helping to coordinate donations.
From the Twin Hugh Parmer, president of the American Refugee Committee is serving as a senior adviser to the Federa l Emergency Management Agency to develop a plan for relocating HurricaneKatrinq evacuees, the reports. "Every day at ARC we provider relief to thousands of displaced peoplwe aroundthe world," Parmer said in a statement. "I hope that my experienced in dealing with international refugee crises will be helpfulp in bringing relief to my fellow Americans in the wake of thisterribled disaster." Across the nation, states and the federal governmenty are calling on health care workers to volunteer to help Hurricane Katrina'z victims.
Among the agencies recruiting health care volunteers were those as far away as the andThe U.S. Departmentf of Health and Human Services. "The outpouringt of support from health professionals who want to volunteet for Hurricane Katrina recovery efforts hasbeen Pa. Department of Health Secretarhy Dr. Calvin Johnson said. In the Houston where about 150,000 refugees have taken shelter, businessx leaders are banding together to provide support and Local government officials have convinced a groupo of business leaders to runa newly-formed nonprofit devoted solely to helping Katrina the reports. Retired ExxonMobi l Production Co. President Terry Kooncr will bethe nonprofit's president.
Texads Gov. Rick Perry has called on health officialsw in his state to come up with a plan for to the thousanda of people who have flooded into the Lone Star Statre as a resultof Katrina. "As Texas managezs the needs of an unprecedentes numberof evacuees, it is clear that one of our chief concerns must be meeting the short-term and long-term health care needs of those with special including children with disabilities and the frail and the elderly," Perry said. Meanwhile, the is helping to process Louisianunemployment benefits. Clear Channel, Entercom Communicationz Corp.
, and two independently-owned radioi station groups have banded together to form the United Broadcasters of NewOrleansx -- 15 stations that have combinec programming and engineering resources to assisy in the relief effort, the Clear Channel owns seven stationse in New Orleans, while Entercom owns six. "Given the stats of New Orleans, we believe it is criticap for the community to have the most currengt and accurateinformation available," Cleare Channel Radio President and CEO John Hogajn said. "By coming together and poolingt our resources we will be able to provide the communituwith news, updates and a connection with the outsidse world.
" In , where thousands of refugees from the storm are now temporarilhy housed, Time-Warner Cable has set up digital phone and cable televisiom service and equipment, as well as Road Runner high-speedx Internet access and computers at refugeed centers. Time-Warner is also providing acceszs to the Federal Emergency Management Agency to its networkkin Louisiana, Alabama and the Austin Business Journal reports. More than $500 milliohn has been donated sinceKatrina hit, about double the amounft given during the same period followinh the Sept. 11, 2001 the Newark Star Ledger reports Wednesday.
Corporationa including Federated Department Storeasand Wal-Mart have been among the big The Samuel I. Newhouse Foundation has donated $1 million to the American Red Cross. The foundatio is supported by magazines, newspapers (amongf them the New Orleans Times-Picayune) and America City Business Journals, owned by the Newhouse
One Memphis company is donating apartments in the area to help housew theestimated . Circles K convenience stores will sell bracelets and donating the proceeds tostartingb Sept. 13, while a group of restaurants and otherd businesses in are donating half their proceeds from one night torelief organizations. In Tennessee, Gov. Phil Bredesebn has suspended several state laws to help expeditrrelief efforts, mainly in the medical regulation the reports. In Memphis, now home to some 10,000 refugees with more possibly onthe way, The Lightstonw Group is offering 50 apartmente to evacuees, rent-free for six months.
Vanderbilt Lite Flighrt of Nashville has sent a helicopted and medical team to Mississippio to help in recoveryefforts there, the reports. Among similatr donations, is donating about 800 hotekl rooms in suburban member hotels for familiezs displaced bythe hurricane. In the Cincinnati area alone, donations had topped $2.5 milliob Wednesday. About 1,000 refugees were expecterd to arrive inthis week. In , a loca l staffing company will host a job fair Thursdayu for evacuees lookingfor part-time And in , anothe job fair is on the way for health care workers displaceed by Katrina.
In North Carolina, whered about 2,000 refugees are being sheltered, the Employment Securituy Commission is setting up shop at evacuation centerain Raleigh, Charlotte and . Kentucky-connecteds companies are organizing fund-raisers at restaurants and a jazzfestivalp fund-raiser, and donating communications technology to damaged businesses alonb the Gulf Coast, reports. Help is coming from as far awayas , whicnh is taking in evacuees, to , where the statee is helping to coordinate donations.
From the Twin Hugh Parmer, president of the American Refugee Committee is serving as a senior adviser to the Federa l Emergency Management Agency to develop a plan for relocating HurricaneKatrinq evacuees, the reports. "Every day at ARC we provider relief to thousands of displaced peoplwe aroundthe world," Parmer said in a statement. "I hope that my experienced in dealing with international refugee crises will be helpfulp in bringing relief to my fellow Americans in the wake of thisterribled disaster." Across the nation, states and the federal governmenty are calling on health care workers to volunteer to help Hurricane Katrina'z victims.
Among the agencies recruiting health care volunteers were those as far away as the andThe U.S. Departmentf of Health and Human Services. "The outpouringt of support from health professionals who want to volunteet for Hurricane Katrina recovery efforts hasbeen Pa. Department of Health Secretarhy Dr. Calvin Johnson said. In the Houston where about 150,000 refugees have taken shelter, businessx leaders are banding together to provide support and Local government officials have convinced a groupo of business leaders to runa newly-formed nonprofit devoted solely to helping Katrina the reports. Retired ExxonMobi l Production Co. President Terry Kooncr will bethe nonprofit's president.
Texads Gov. Rick Perry has called on health officialsw in his state to come up with a plan for to the thousanda of people who have flooded into the Lone Star Statre as a resultof Katrina. "As Texas managezs the needs of an unprecedentes numberof evacuees, it is clear that one of our chief concerns must be meeting the short-term and long-term health care needs of those with special including children with disabilities and the frail and the elderly," Perry said. Meanwhile, the is helping to process Louisianunemployment benefits. Clear Channel, Entercom Communicationz Corp.
, and two independently-owned radioi station groups have banded together to form the United Broadcasters of NewOrleansx -- 15 stations that have combinec programming and engineering resources to assisy in the relief effort, the Clear Channel owns seven stationse in New Orleans, while Entercom owns six. "Given the stats of New Orleans, we believe it is criticap for the community to have the most currengt and accurateinformation available," Cleare Channel Radio President and CEO John Hogajn said. "By coming together and poolingt our resources we will be able to provide the communituwith news, updates and a connection with the outsidse world.
" In , where thousands of refugees from the storm are now temporarilhy housed, Time-Warner Cable has set up digital phone and cable televisiom service and equipment, as well as Road Runner high-speedx Internet access and computers at refugeed centers. Time-Warner is also providing acceszs to the Federal Emergency Management Agency to its networkkin Louisiana, Alabama and the Austin Business Journal reports. More than $500 milliohn has been donated sinceKatrina hit, about double the amounft given during the same period followinh the Sept. 11, 2001 the Newark Star Ledger reports Wednesday.
Corporationa including Federated Department Storeasand Wal-Mart have been among the big The Samuel I. Newhouse Foundation has donated $1 million to the American Red Cross. The foundatio is supported by magazines, newspapers (amongf them the New Orleans Times-Picayune) and America City Business Journals, owned by the Newhouse
Sunday, June 3, 2012
Saturday, June 2, 2012
Local profs win injunction in condo case - Baltimore Business Journal:
uraa-quartely.blogspot.com
A Suffolk Superior Court judge Monday issued a preliminaryt injunction againstthe developer, a joint venture of and The injunctio n prohibits the developers from renting or leasing the condlo units it is supposeed to sell to the plaintiffs, according to a press releasse from the group’s lawyers, . Equity Residential’x spokesman, Marty McKenna, said he coulds not comment “because of pendinv litigation.” Extell did not immediately return a callfor comment.
The filed in April by a group of professors, alleges that Equity Residential and Extell Developmeng refused to allow buyers to close on the purchases and move into theidr condo units and did not record condominiun master deeds with the of The development, called 303 Third St. in Cambridge’s Kendalo Square neighborhood, was originallt approved for 527 units intwo buildings, the so-callee North and South developments. The Nortn building contains rental units and is not part of the According tothe plaintiffs, the developed is now in discussiobn with the city of Cambridge to rent the South building as apartments.
In a previous Boston BusinessJournal story, Cambridge’s director of land use and zoninv for the confirmed the developef filed plans with the city to converg the South building to rentals.
A Suffolk Superior Court judge Monday issued a preliminaryt injunction againstthe developer, a joint venture of and The injunctio n prohibits the developers from renting or leasing the condlo units it is supposeed to sell to the plaintiffs, according to a press releasse from the group’s lawyers, . Equity Residential’x spokesman, Marty McKenna, said he coulds not comment “because of pendinv litigation.” Extell did not immediately return a callfor comment.
The filed in April by a group of professors, alleges that Equity Residential and Extell Developmeng refused to allow buyers to close on the purchases and move into theidr condo units and did not record condominiun master deeds with the of The development, called 303 Third St. in Cambridge’s Kendalo Square neighborhood, was originallt approved for 527 units intwo buildings, the so-callee North and South developments. The Nortn building contains rental units and is not part of the According tothe plaintiffs, the developed is now in discussiobn with the city of Cambridge to rent the South building as apartments.
In a previous Boston BusinessJournal story, Cambridge’s director of land use and zoninv for the confirmed the developef filed plans with the city to converg the South building to rentals.
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