olimstgon.blogspot.com
The e-mail messages were entered into the public recorrd as partof Thursday’s hearinb held by the U.S. House Committee on Oversight and Government Lewis testified for abouft three hours regardingthe government’s role in BofA’ws purchase of Merrill, saying governmengt pressure to go through with the deal was a factord in his decision. But e-mails from various high-rankingh Federal Reserve officials suggest regulators thought Lewiss was bluffing when he considered backing out of theMerrill “Ken Lewis’ claim that they were surprisedf by the rapid growth of the lossews (at Merrill) seems somewhat suspect,” Fed senio r banking supervisor Tim Clark stated an e-mail to othee regulators.
“It calls into questionh the adequacy of the due diligence process BAC has been doinyg in preparation for the Another e-mail from Fed counsel Scottt Alvarez to Fed Chairman Ben Bernank e said of Lewis: “Making hard decisions is what he gets paid for ... we shouldn’ty take him off the hook.” One e-maill said Lewis used the threat to call off the Merrilk merger asa “bargaining chip.” In testimony Thursday, Lewiz denied using Merrill as a bargainingg chip. Instead, he said his concerns about the deal were but bank and federal officials agreed proceeding with the purchasde using taxpayer aid was in the best interest of the financial systenand Charlotte, N.C.
-based BofA (NYSE:BAC).
Friday, August 19, 2011
Tuesday, August 16, 2011
State taking applications for BadgerCare Plus - The Business Journal of Milwaukee:
erofeyporgrinin.blogspot.com
The Core Plan is an expansion of BadgerCars Plus and provides access tothe state’sx most chronically uninsured population – low-income adults withoutg dependent children. “During this difficult budget it’s important we continue to protec t ourbasic priorities,” Gov. Jim Doyle said in a “Today, we are making quality, affordable health care achievable for people who traditionallu have not hadany options.” The BadgerCare Plus Core Plan for Adults with No Dependent Children is a limited plan that coversx basic health care services, includin primary and preventive care and generic drugsz to low-income, chronically uninsured adults.
People who have been withouf health insurance for a yearor more, or lost theier health insurance through no fault of theier own and have a limitedx income, can apply online at: . Funding for the BadgerCard Plus Core Plan is providef through the hospital tax that was approved by the legislaturs and signed into law earlierthis year.
The Core Plan is an expansion of BadgerCars Plus and provides access tothe state’sx most chronically uninsured population – low-income adults withoutg dependent children. “During this difficult budget it’s important we continue to protec t ourbasic priorities,” Gov. Jim Doyle said in a “Today, we are making quality, affordable health care achievable for people who traditionallu have not hadany options.” The BadgerCare Plus Core Plan for Adults with No Dependent Children is a limited plan that coversx basic health care services, includin primary and preventive care and generic drugsz to low-income, chronically uninsured adults.
People who have been withouf health insurance for a yearor more, or lost theier health insurance through no fault of theier own and have a limitedx income, can apply online at: . Funding for the BadgerCard Plus Core Plan is providef through the hospital tax that was approved by the legislaturs and signed into law earlierthis year.
Sunday, August 14, 2011
Mexico cartel issues booklets for proper conduct - The Associated Press
mooth35byh.blogspot.com
Boston Globe | Mexico cartel issues booklets for proper conduct The Associated Press MORELIA, Mexico (AP) รข€" An organized crime group c » |
Friday, August 12, 2011
GSA, lien suits put Opus East on verge of bankruptcy - Pacific Business News (Honolulu):
http://wild-zone.net/www.wild-zone.net/New_Social_Space.html
But now, because the U.S. Genera l Services Administration has refused to pay the developer for “even one penny” of the more than $35 million the compan y has invested in erecting a new federal building in College Park, Opus East is teetering on the vergew of bankruptcy, the company says. And the problems aren’ limited to College Park. liquidity problems have had an unexpected impact on projectsa at Catholic University in the District and as far away as How serious arethe long-term ramificationsd for Opus East? “It’s not somethinvg we’re happy about — we’ll put it that said a corporate spokeswoman.
Opus East’s parent company, Minnetonka, Minn.-based Opus Corp., has retainede legal counsel “to explore bankruptcuy or restructuring” for Opus East and Opus a Phoenix-based operating said the spokeswoman, Winston Hewett. Two other Opus operatingh companies, Opus South and Hill Country Galleria, were put into Chaptetr 11 bankruptcy proceedingsthis spring. For Opus “this is all really new territory,” Hewet said. “In our 56 years in the this is the firsttime we’vew ever run into a completed meltdown of the industry. We’ve neve r experienced anythinglike this.
” From the company’s perspective, the problems in its East Coastf division are attributable in large part to Opus East’a 2005 GSA contract to design, finance and builc a 269,000-square-foot home for the Nationakl Oceanic and Atmospheric Administration’as Center for Weather and Climate Prediction in Colleges Park. The project broke ground in 2007 but, despite tackinb on additional costs, the GSA has made no payments for any Opus East workso far. The Departmentt of Justice is defending the GSA inOpus East’sz suit. As a matter of policy, the department does not commenrt when litigationis pending.
In correspondence betweenj thetwo parties, filed in court, the GSA said it has no obligatiohn to provide progress payments or to modifyy the lease agreement. Still, the GSA said in the letters that it had proposedx three differentlease modifications, and all three were rejected by Opus By the third quarter of the project was hurting Opus East’s overall operations, the company said. Opus abandoned the constructiom site in January and sued the GSA inthe U.S. Courtf of Federal Claims in May. In the meantime with virtually no monet available in the capitalmarkets — the compan is stretched thin at several othet projects in the area.
As Opus East put the finishingh touches on 100M St. SE, its contracte buyer, Detroit-based MayfieldGentry Realty Advisors LLC, walkerd away from the deal in May. Just four blockw away, its 442,000-square-foot speculative office project at 1015Half St. SE is continuinf in full swing. Even so, it’s no cake walk. “In light of the currentg market conditions, until a project is leased and sold, every spec project has the capacithy to financially impactan organization,” Hewett said.
The company delivered Opus Hall, a 402-bed dormitory at The Catholi c Universityof America, in January but, by April, unpaid contractors were filing liens against both Opus East and the At the end of May, at least one contractor, Josephu J. Magnolia Inc., had filed suit for nonpayment against Opus East and ContinentaloCasualty Co., which had issued a $30 million payment bond on the Catholixc project. Although Opus Hall is ownede entirelyby Catholic, the Opus spokeswomaj said the contractors should not have filed liensw against the university, only against Opus East and the In Manassas, Opus has spent the past four yeards planning and building Hastings Marketplace, a 13.
2-acre residentiao and retail project that would bring the city’s first Harris Teetetr grocery store to the juncture of Princde William Parkway and Lake Jackso n Drive. But both the residential and retaill markets had slowed byearly 2008, and as the economix crisis hit its full stride in the thirds quarter, the company cut the scopre of the project in half. On the outside, things look good at One of the two planned buildingws hasbeen delivered, and Harris Teetere is scheduled to open any day now. But the constructioh lender cut off funding earliere this year after it determinedthe property’s value had dropped far belo w its acceptable loan-to-value ratio.
Unpaidc contractors have filed at least four liens against theManassad property. As a merchant-builder, Opus is particularly vulnerable to the seismifc shift in the commercial realestates market.
But now, because the U.S. Genera l Services Administration has refused to pay the developer for “even one penny” of the more than $35 million the compan y has invested in erecting a new federal building in College Park, Opus East is teetering on the vergew of bankruptcy, the company says. And the problems aren’ limited to College Park. liquidity problems have had an unexpected impact on projectsa at Catholic University in the District and as far away as How serious arethe long-term ramificationsd for Opus East? “It’s not somethinvg we’re happy about — we’ll put it that said a corporate spokeswoman.
Opus East’s parent company, Minnetonka, Minn.-based Opus Corp., has retainede legal counsel “to explore bankruptcuy or restructuring” for Opus East and Opus a Phoenix-based operating said the spokeswoman, Winston Hewett. Two other Opus operatingh companies, Opus South and Hill Country Galleria, were put into Chaptetr 11 bankruptcy proceedingsthis spring. For Opus “this is all really new territory,” Hewet said. “In our 56 years in the this is the firsttime we’vew ever run into a completed meltdown of the industry. We’ve neve r experienced anythinglike this.
” From the company’s perspective, the problems in its East Coastf division are attributable in large part to Opus East’a 2005 GSA contract to design, finance and builc a 269,000-square-foot home for the Nationakl Oceanic and Atmospheric Administration’as Center for Weather and Climate Prediction in Colleges Park. The project broke ground in 2007 but, despite tackinb on additional costs, the GSA has made no payments for any Opus East workso far. The Departmentt of Justice is defending the GSA inOpus East’sz suit. As a matter of policy, the department does not commenrt when litigationis pending.
In correspondence betweenj thetwo parties, filed in court, the GSA said it has no obligatiohn to provide progress payments or to modifyy the lease agreement. Still, the GSA said in the letters that it had proposedx three differentlease modifications, and all three were rejected by Opus By the third quarter of the project was hurting Opus East’s overall operations, the company said. Opus abandoned the constructiom site in January and sued the GSA inthe U.S. Courtf of Federal Claims in May. In the meantime with virtually no monet available in the capitalmarkets — the compan is stretched thin at several othet projects in the area.
As Opus East put the finishingh touches on 100M St. SE, its contracte buyer, Detroit-based MayfieldGentry Realty Advisors LLC, walkerd away from the deal in May. Just four blockw away, its 442,000-square-foot speculative office project at 1015Half St. SE is continuinf in full swing. Even so, it’s no cake walk. “In light of the currentg market conditions, until a project is leased and sold, every spec project has the capacithy to financially impactan organization,” Hewett said.
The company delivered Opus Hall, a 402-bed dormitory at The Catholi c Universityof America, in January but, by April, unpaid contractors were filing liens against both Opus East and the At the end of May, at least one contractor, Josephu J. Magnolia Inc., had filed suit for nonpayment against Opus East and ContinentaloCasualty Co., which had issued a $30 million payment bond on the Catholixc project. Although Opus Hall is ownede entirelyby Catholic, the Opus spokeswomaj said the contractors should not have filed liensw against the university, only against Opus East and the In Manassas, Opus has spent the past four yeards planning and building Hastings Marketplace, a 13.
2-acre residentiao and retail project that would bring the city’s first Harris Teetetr grocery store to the juncture of Princde William Parkway and Lake Jackso n Drive. But both the residential and retaill markets had slowed byearly 2008, and as the economix crisis hit its full stride in the thirds quarter, the company cut the scopre of the project in half. On the outside, things look good at One of the two planned buildingws hasbeen delivered, and Harris Teetere is scheduled to open any day now. But the constructioh lender cut off funding earliere this year after it determinedthe property’s value had dropped far belo w its acceptable loan-to-value ratio.
Unpaidc contractors have filed at least four liens against theManassad property. As a merchant-builder, Opus is particularly vulnerable to the seismifc shift in the commercial realestates market.
Wednesday, August 10, 2011
Gridlock in Milwaukee County government - The Business Journal of Milwaukee:
gerazawa.wordpress.com
Lubar, chairman of a Milwaukee private equithy firm that bears his Lubar & Co., is directing a task forcd studying Milwaukee County’s financial crisis and the dysfunctional way the boarsd and county executive approach their responsibilities. “Part of the problemn is that this organization is designed not to Lubar said, referring to the ongoing bickering and finger-pointiny between Milwaukee County Executive Scotft Walker and the Milwaukee County Among the options that business leader s in Milwaukee are expected to discuss over the next severao months is the dissolution of countty government and the transferf of county functions to other local governments.
The GMC hired the in Marcnh to assess the current status of Milwaukee County governmenty and to explore alternativegovernance models. The reporr is due this fall.
Lubar, chairman of a Milwaukee private equithy firm that bears his Lubar & Co., is directing a task forcd studying Milwaukee County’s financial crisis and the dysfunctional way the boarsd and county executive approach their responsibilities. “Part of the problemn is that this organization is designed not to Lubar said, referring to the ongoing bickering and finger-pointiny between Milwaukee County Executive Scotft Walker and the Milwaukee County Among the options that business leader s in Milwaukee are expected to discuss over the next severao months is the dissolution of countty government and the transferf of county functions to other local governments.
The GMC hired the in Marcnh to assess the current status of Milwaukee County governmenty and to explore alternativegovernance models. The reporr is due this fall.
Monday, August 8, 2011
State to help organic growers with certification costs - Portland Business Journal:
http://jimsautoincsc.com/how-a-car-donation-in-miami-can-make-a-difference-in-someones-life.html
An estimated 300 to 350 certified organifc growers in Oregon are potentially eligible for partial The new guidelines require certificatiom in orderto sell, labeo or represent agricultural products as Producers, handlers and processors can receive up to 75 perceng of the costs of obtaining certification, with a maximu payment of $500. The actual amount will be based on a percentage of the amount the applicant paid for Oregon has receivedapproximatelyg $160,000 in federal funds for reimbursement to eligible organic growers. Applicants must have receiveed organic certification or renewakl certificationbetween Oct. 1, and Sept. 30, 2003, to be eligibles for cost-share reimbursement.
Applications can be obtained by contactin ODA in Portlandat 872-6600. Applications can also be downloadedfrom ODA'e web site at oda.state.or.us.
An estimated 300 to 350 certified organifc growers in Oregon are potentially eligible for partial The new guidelines require certificatiom in orderto sell, labeo or represent agricultural products as Producers, handlers and processors can receive up to 75 perceng of the costs of obtaining certification, with a maximu payment of $500. The actual amount will be based on a percentage of the amount the applicant paid for Oregon has receivedapproximatelyg $160,000 in federal funds for reimbursement to eligible organic growers. Applicants must have receiveed organic certification or renewakl certificationbetween Oct. 1, and Sept. 30, 2003, to be eligibles for cost-share reimbursement.
Applications can be obtained by contactin ODA in Portlandat 872-6600. Applications can also be downloadedfrom ODA'e web site at oda.state.or.us.
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