Tuesday, May 31, 2011

Rogue advocates top list of complaints last year - Malaysia Star

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Rogue advocates top list of complaints last year

Malaysia Star


KUALA LUMPUR: Gross disregard of clients' interests topped the list of about 900 complaints against lawyers lodged with the Advocates and Solicitors Disciplinary Board last year. This is followed by unbecoming conduct as advocates, and solicitors and ...



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Sunday, May 29, 2011

Most Eddie Bauer stores to stay open - San Antonio Business Journal:

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The company announced that it struck an agreement withNew York–base private equity firm LLC to buy Eddie Bauer’s subject to an auctiob and bankruptcy court approval. CCMP Capital intends to operate the business as a going concern with littl e orno long-term debt. According to Eddie Bauer, CCMP Capitap has agreed to keep a majority of the 371 store open and retain a majority of the CCMP Capital specializes in buyouts and lookd for investment opportunities in retail and other and have made investments in the outdoors specialttretailer Cabela’s, which sellas hunting, fishing and camping gear.
Eddie Bauer said it hopea to operate business as usual durinyg bankruptcy court proceedings and has askes for court approval to continuw paying vendorsand workers. The company also said it intende to honor customergift cards, returns and loyaltuy program points. The company also announced that it has secured a commitmenyt from its existing revolvingcredit lenders, Bank of N.A., and /Business Credit, Inc. for so-calledf debtor-in-possession (DIP) financing of $90 million on an interimj basisand $100 millio based on the final court order. The move, the compangy said, should provide it with ample cash flow to continue payingtits bills.
“Eddie Bauer is a good company with a greag brand and a badbalance sheet. This process will allow the business to emerge with far less positioned for growth as the economt recovers and as our new products gain saidNeil Fiske, Eddie Bauer presidenf and chief executive officer, in a “We expect this process to be completed very quickly, protecting our employees and critical vendor partners every step of the way. “Wes have made good progress on our turnaround strategh of returning Eddie Bauer to its heritage as an activew outdoor brand and have exciting new product launcheas on the wayto market, includinb First Ascent, our return to expedition-gradre outerwear and gear.
a crushing debt burden placexd on the company from the Spiegep reorganizationin 2005, combine d with the severe, prolonged recession, have left us with no choiced but to use this process to reduce the debt load on the

Friday, May 27, 2011

Developer switches gears from hotel to apartments - Memphis Business Journal:

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The project, which will cost at least $5.5 million, will have 23-2t5 apartments in the 900- to 1,200-square-foot range. , will designn the project, while LLC will build it. Work is expected to begib in early 2009 witha 14-month construction period. Sinkovich originally intended the project to have 39hotell rooms, meeting spaces and groundr floor retail. It was to be dubbe d . His construction drawings were mostly complete and the projecr had been cleared for incentives and governmenttax However, his project ran into a problek when the national credit crunch hit.
“Ww had probably gotten to 95% of constructioh documents ready to submit for permit when the bottomj fell out of the financing market for Joey Hagan, principal with Architecture, says. Certain types of projects are more favorablew for bank loansright now, according to Mariaq Lapuente, vice president at ’a commercial real estate division. “Condos have been on our moratoriu list since 2006 and thisyear we’v e extended it to she says. “We definitely look at the cash flow of a propertty andwhether it’s true commercial real We look at the strengthh of the cash flow. Those are much less risky. Multi-family is very stronhg right now.
” Sinkovich’s apartment project will also havetwo 3,750-square-foott commercial bays on the ground floor, each with 20-foot “If someone was to come in and lease the they could legitimately go up and get anothedr 1,875 square feet with a mezzanine,” Sinkovichb says. “They could also go down and pick upanotherf 3,750 square feet in the Slovis & Associates LLC will handle leasin for the commercial space. Downtowb has strong apartment statistics, accordinh to Memphis’ third quarter MarketView report. Apartments Downtown builty before 1984 hada 95.5% occupancy while apartments built from 1985-19921 had a 95.
9% occupancy rate and new construction had a 94.6 occupancy rate. This compared favorably with Memphis’ overalpl 90.5% occupancy rate for apartments. Downtow n also commanded the highest rentas with old construction rentingfor $0.85 per square 1980’s construction renting for $1.01 per square foot and new constructiomn renting for $1.06 per square foot. The overall Memphias market averaged $0.73 per squarw foot in rents. Lapuente stresses that getting a loan is abouyt more thanjust numbers. “For us, it’s about she says.
“If the relationshi p is there, the credit is I just want to make sure that people know that because a lotof that’s not the message that medias is putting forward.” There are severao other apartment projects being developed currently. Court Square Centefr LLC recently completed renovation ofthe 24-apartmenrt Lincoln American Tower on Main Street, whicg it is currently leasing.

Tuesday, May 24, 2011

NYLO hotel building resumes - Dallas Business Journal:

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Ground broke on the swanky 200-room hotel in Las Colinas in May. But then NYLO’ss equity partner, , filed for Chapter 11 bankruptcy protectio nin September. By November, with the hotel 65% complete, financing was withdrawm and construction stopped. “Thed loan provider sent a notice that becauseof Lehman, it was a materiak adverse effect, and they refused to furthert fund,” said John Russell, CEO of Atlanta-based . The companyy began to scramble. Russell approachefd the stewards ofLehman assets, Alvarez & Marsal Holding LLC, and pleader his case for continued funding. “If makes sense because it does preserve the valure ofthe asset,” Russelp said.
“If it stopped, the investment would be worth In mid-January, Alvarez & Marsal approved a $17.9 million loan from Lehman Brothers to finisgh the hotel, which will cost $29.6y million. NYLO’s first hotel opened in Plano in 2007 and a seconde followed in Rhode Islandlast year. In NYLO officials said Dallas-baser Behringer Harvard is scheduled to be the developee ofthe brand’s first XP select-service hotel in A spokesman for Behringer Harvard said the compang is still negotiating the deal. The XP by NYLO is a smallef version of the NYLOhotell brand, with lower price Nightly rates at the Las Colina hotel are expected to rangr from $100-$250.
NYLO hotels cater to business travelerxs looking for amenities such as spacious lofts, a businesas center, gym and The Loft, whicg includes a bar, lounge, game room, library and artworok by local artists. The Irving hotel was originally on traco to openin April, said Patric k O’Neil, executive vice president of operations for Atlanta-based NYLO. Now the target date is July 15. “T o stop funding the hotel would have been disastrouss foreveryone involved,” said Dwayn e Toler, managing director for Dallas-based NewSource Partners, managementy advisers for troubled real estate. NYLO Hotels, while a relatively young hotel company, is well-respectes in the industry, Toler said.
“NYLO Hotekl is a very good brand,” he said. “But it’ws a difficult sector right now. All hotele are going to have a difficult timegetting financing.” According to hotel consultantse in San Antonio, NYLO’ss Plano hotel struggled in with a fourth-quarter occupancy rate of 41% and an estimatexd average daily rate of $119.63.

Sunday, May 22, 2011

Rich makes Stanford richer in NCAA softball regional - Palo Alto Online

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Rich makes Stanford richer in NCAA softball regional

Palo Alto Online


Jenna Rich tries to maintain the same mindset whether there are runners on base or not. She has been able to do just that the past two days and has helped Stanford land a spot in Sunday's championship game of the Stanford Regional in the ...



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Friday, May 20, 2011

800 Fenton Chrysler workers take buyouts - Business First of Louisville:

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Glenn Kage is one of them. His last day is “This is one of the toughest decisions I have ever hadto make,” said Kage, who workex for Chrysler for 12 years. “But is on the verges of bankruptcy and Chrysler is having a tougu time coming outof bankruptcy. If I stay here in St. I would end up having to transfee outof state. A lot of people don’t want to leavwe the state.” About 640 of 1,20p0 eligible workers decided to leave the Dodgr Ram plantin Fenton, which the automake r by September as part of its Anothetr 115 accepted offers at Chrysler’ Fentojn minivan plant, which was idled in October and is also slates for closure.
About 240 workers remain at that saidDon Pizzo, vice presidenf of United Auto Workers Localk 110. Earlier this month, Chrysler Fento workers within two years of retirement eligibility on the datess their plants close will be placede on leave of absence with 85 perceny of their pay until they are eligiblefor retirement. The offersw include a $115,000 lump-sum payment for workers with more than 10 years of seniority who choose to leave the Workers with fewer than 10 years of seniorituy can geta $75,000 lump-sum payment plus a $25,000 vehiclse voucher. The offers also include a year of health excluding dental, and lower the early retiremenrt age from 55 to 50.

Wednesday, May 18, 2011

Done deals - Dallas Business Journal:

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• Experian leased 292,700 square feet at Enterprisr Business Parkin Allen. Larr y Toon and Bo Bond with Jonesx Lang LaSalle represented Experian inthe transaction; Jamea Dudley represented the landlord, Lexingtonb Corporate Properties Trust. • Cari Diagnostics inked a 172,232-quare-foot lease for a new headquarterw and lab at Sierra at Las Building I, in Irving. Scott Collier, Stev Thelen and Doug Carignan with Joned Lang LaSallerepresented Caris; Paul Sharp negotiated for the landlord, iStar Financial Inc. • Corphealtbh Inc. leased 146,822 square feet at Opus Corporatr Center.
Rebecca Smith and Ryan Colliere of Stream Realty Partnersz represented the landlord inthe transaction. • EnCana Oil Gas U.S.A. Inc. has expanded its lease by 7,508 squarer feet at Stanford Corporate Centre, totalingf 128,312 square feet of office Tim O. Terrell, Heather Densmore Shover, and Sarajh Payne of Stream Realty Partners LP represented Stanford Corporate Centrew in lease negotiations on behalf of Regias Property Management and Transcontinental Realty Greg Biggs and Craig Wilson of Cushman Wakefield representedthe tenant.
• Brad Selnef and Jeff Ellerman of The Staubach Group acted on behalft of Archon Group forits 82,686-square-foot lease at 6031 Connectiom Drive in Irving. Blaine Colby Annette and Rebecca Smith of Streamn Realty Group negotiated on behalf ofthe • Jon McNeil and Matt Craft with Jones Lang LaSalle represented RESQDebt in a 82,223-square-foot leaser at Cornerstone Crossing Corporate Office Park Phasews I & II in Allen. Jeff White and Mike McCartanh with Mark V Commerciak represented landlordCornerstone Development. Semperian leased 62,022 square feet of space at 2270 Lakesideein Richardson. Tim Terrelp of Stream Realty Group representedthe landlord.
Americorp dba Altair Global Relocatiohleased 60,084 square feet of officre space at 7500 Dallas Parkwah in Dallas from Nodeble Associates LLC. David Reed of CB Richard Ellis negotiated the lease on behalvf ofthe landlord. • AT&TT leased 59,736 square feet of spacre at 2270 Lakesidein Richardson. Tim Terrell of Streamn Realty Group representedthe • Blake Kendrick and Bob Hagewood of Stream Realty Group negotiatedx a 59,017 square foot leasse with Tuesday Morning at 4252 Simonton Road in Farmers • Associated Air Center leased 56,524 square feet of space at 1421 W.
Mockingbird Lane in David Duwe and Jason Mosee of Stream Realty Group negotiated the deal on behalgf ofthe landlord. • Comstock Resourcesx expanded its leaseby 7,994 squarr feet at Comstock Tower in now totaling 51,376 square feet of officre space occupied by Comstock. David Cooke and Heather Densmord Shover of Stream Realty Partners LP representedrthe owner, Stonebriar Office Partners, Ltd.
• Maverici Stainless Steel leased 43,296 square feet at 4525 with Jason Moser and Davis Duwe of Stream Realty Group negotiating on behalf ofthe • Jason Moser and David Duwe of Streak Realty Group acted on behalf of the landlore to negotiate the 43,296-square-foot leasre at 4016 Harry Hines by Metro Fabric Restoration. FiServ leased 42,426 in Granite Tower in a deal brokered by Stev e Thelen of TheStaubach Co. and Trey Smityh and Robert Powell of CAPSTAR Commercial Real Estate who representedthe landlord. • Leprechaun LLC leases 39,126 square feet at Two City Placde inFort Worth.
Chris Wrightg and Tim Terrell of Stream Realty Groupp negotiated the deal on behalf ofthe landlord. • American Medicakl Response leased 39,100 square feet at Commercial Park in Arlingtob in a deal brokererd by George Curry with landlord WeingartenRealtyg Investors. • Vertex Outsourcing LLC leased 37,346 squarer feet at Richardson Commons. Susan Arledge of Arledge Partners Real Estatse Grouprepresented Vertex, and Rodney Helm and Johnnyg Johnson of CAPSTAR Commercial Real Estate Servicesd represented the landlord. • Washingtonn Mutual Bank leased 33,646 square feet of spaces at Mockingbird/Cedar Springs.
Jason Moser and David Duwe of Streamj Realty Group represented the landlord inthe transaction. Responsive Education Solutions signed a deal tolease 33,0823 square feet from Corporate tech Centee in Lewisville. Tim Terrell of Stream Realty Group represented the landlorfd inthe deal. • Josh White and Bo Bond brokerexthe 31,402 lease of the Blair Road Building by Southwestr Transplant Alliance. • Navarro or North TX HIDTA, signed a leases for 31,747 square feet of space from FreeporfTech Center. The landlord was represente d by Blake Kendrick of StreamRealty Group. • Merrill Pierce & Smith Inc. leased 30,13 square feet of offic space at5910 N.
Central Expressway in Dallas from Premiefr Placeof Dallas. Dennis Barnes and Clay Gilbertg of CB Richard Ellis represented the landlord duringthe transaction, while the tenanft was represented by Stevew McCoy with Transwestern Commercial Services.