onoeuqedol1902.blogspot.com
“The continued listing of the wood stor k under the Endangered Species Act has blocked developmeng and mining projects that could have provided jobsfor thousands,” said Stevejn Geoffrey Gieseler, managing attorney with the ’es Atlantic Center office in Stuart, which is representingh the association. Ken Warren, a spokesman for the U.S. Fish and Wildlif Service, said the wood stork populatiob has shown signs of stabilizing at 8,000 nesting pairse or 16,000 breeding He said even if the wood storkl is downgraded to “threatened” status, that won’ty necessarily mean any greate freedom to build on its habitat.
“Whenj you talk about the EndangeredSpecies Act, and threatened versus endangered, it’s a dubious distinction. It still means the species is not doin well and it is protected under the Warren said. "It doesn’t weaken existinv protections, nor does it make it easiefr or harder to build in woodstork habitat.” A recent five-year review of the wood stork’s numbere suggested it is doing better and could theoreticallty be downgraded, but it was only a he added. The wood stork, prevalent in Centrap and South Florida, was listex as "endangered" in 1984.
The petition cites a 2007 federalo review that found the reclassification is warrantec because the wood stork numbersx are increasing in thesoutheastern U.S.
Saturday, March 31, 2012
Thursday, March 29, 2012
Mergers: Districts ponder joining forces - Houston Business Journal:
savimy.blogspot.com
A third set of talks was triggeredby Gov. Davied Paterson’s proposed state budget last “It would have raised our taxes 22 saysMichael McArdle, superintendentg of the Scio Central School District. “It drover us to look at our budget and the issuee wewere facing.” The budgetary news from Albany subsequently took a turn for the but officials from Scio and nearby Wellsvill continue to explore their options -- perhap s a merger, more likelt a collaboration on a smaller scale. “Everythingt is open,” says McArdle.
“We’re tryinh to find the best wayto go, the way to get the best educationak opportunities for our students and to keep our tax rate The Wyoming Central School District faced a similar problem in 1991. Enrollment was especially at the high school Elective courses weresparseluy attended. Only three students signed up for physics one Voters rejected mergers with Pavilionor Warsaw. “Thayt left the district struggling to come up with a says thecurrent superintendent, Sandra Duckworth.
“Sop we started to look at Wyoming students now attend theit local school through eighth then shift to high school in any of fouradjaceny districts: Alexander, Attica, Pavilion or Warsaw. Wyoming pays tuitionh for each student, a standard rate that is negotiated with its neighbore everyfive years. Wyominf also belongs to a consortium of six districtas seeking ways to cut costsz by sharing services suchas transportation, building maintenance, special education and curriculum development. Similar arrangements can be found elsewherer in WesternNew York, sometimes involving severalk districts, sometimes a one-on-one setup such as Scio and Wellsville are discussing.
These measures offer the prospec of reducing expenses while retainingglocal control. It’s a combination that appeals to superintendents who are well awaree that the mere suggestion of a mergef can triggerintense opposition. “What the peoplew of Sherman are telling us is that they like the educationm their childrenare receiving,” says “They’re saying, ‘Please keep it the way it is.
’”
A third set of talks was triggeredby Gov. Davied Paterson’s proposed state budget last “It would have raised our taxes 22 saysMichael McArdle, superintendentg of the Scio Central School District. “It drover us to look at our budget and the issuee wewere facing.” The budgetary news from Albany subsequently took a turn for the but officials from Scio and nearby Wellsvill continue to explore their options -- perhap s a merger, more likelt a collaboration on a smaller scale. “Everythingt is open,” says McArdle.
“We’re tryinh to find the best wayto go, the way to get the best educationak opportunities for our students and to keep our tax rate The Wyoming Central School District faced a similar problem in 1991. Enrollment was especially at the high school Elective courses weresparseluy attended. Only three students signed up for physics one Voters rejected mergers with Pavilionor Warsaw. “Thayt left the district struggling to come up with a says thecurrent superintendent, Sandra Duckworth.
“Sop we started to look at Wyoming students now attend theit local school through eighth then shift to high school in any of fouradjaceny districts: Alexander, Attica, Pavilion or Warsaw. Wyoming pays tuitionh for each student, a standard rate that is negotiated with its neighbore everyfive years. Wyominf also belongs to a consortium of six districtas seeking ways to cut costsz by sharing services suchas transportation, building maintenance, special education and curriculum development. Similar arrangements can be found elsewherer in WesternNew York, sometimes involving severalk districts, sometimes a one-on-one setup such as Scio and Wellsville are discussing.
These measures offer the prospec of reducing expenses while retainingglocal control. It’s a combination that appeals to superintendents who are well awaree that the mere suggestion of a mergef can triggerintense opposition. “What the peoplew of Sherman are telling us is that they like the educationm their childrenare receiving,” says “They’re saying, ‘Please keep it the way it is.
’”
Tuesday, March 27, 2012
Plummeting to the ocean's lowest point - Washington Post
ernstiryastrov.blogspot.com
Boston.com | Plummeting to the ocean's lowest point Washington Post Filmmaker and National Geographic Explorer-in-Residence James Cameron is congratulated by ocean explorer and US Navy Capt. Don Walsh, right, after completing the first ever solo dive to the "Ch » |
Sunday, March 25, 2012
Pandora sings for web radio advertisers - San Francisco Business Times:
adepylex.blogspot.com
Its service also lays the groundwork for fresh marketing initiatives that couldebenefit non-mainstream musicians, said Tim founder and chief strategy Some 85 percent of advertisers are doing repeayt business with Pandora, which recently predicted that it coulfd be profitable next year. This year’s revenuezs are projected to double toabout $40 million, Westergren said. The service has 27 milliobn registered users, 10 million active a month, and is addingy 50,000 to 60,000 a day. “We’re the biggest radio in almostf everymarket already, and we’re doublingy in size annually, so we’ve been hiring fast and furiouslyh to build up local ad Westergren said.
Pandora can target ads by demographics, genre, artisft and ZIP code. It can guarantee a specific number of ad impressions because it delivers the impressionz only when a user has just takenan action, such as givin g a thumbs-up to approve a song choice. The companyh this month began offeringan ad-free premium service for $36 a Santa Barbara-based home music system manufacturer ran a 30-day ad campaigjn targeting exclusively IPhone users from mid-March to mid-Aprip on Pandora, and foundf the click-through rate to be extraordinary. “Fard and away, it was the most successfup campaign we’ve ever conducted,” said Sonos spokesman Thomax Meyer.
Westergren said he decided to makehis company’xs revenue public because advertisers had repeatedly questioned the company’sz health. Pandora has 135 30 of them hiredlast year, a dozen this and another dozen expected to be added by the end of 2009. Most employeesx are in the Oakland and the company has offices in New Los Angeles, Chicago, Detroit and Boston. One reason Westergrenh feels so optimistic is thata two-year battld with record companies and artists over how much Internet radio services should pay in royalties may be , which collects royalties for copyrighy owners and is negotiating for the record labels, announced “q potential agreement” with webcasters.
Also, Pandora has been rapidly adopted by IPhone and Blackberryuserw — 5 million in 11 months, abouft 1 million after two months respectively. Now that Pandora is Westergren wants to develop tools tohelp non-mainstream musiciand get money. For Pandora’s user preference data can be plottec on a map for an artist to decide wherseto tour. Pandora could also send emails to fans alerting them to an upcomingy show and offering tickets or merchandisfor sale. Seventy percent of the 650,00o0 songs in Pandora’s library are from artists not signed to arecordr label, he said.
“We give accesds and promotion to this huge sea of reallty talented but otherwiseinvisible artists,” Westergren said.
Its service also lays the groundwork for fresh marketing initiatives that couldebenefit non-mainstream musicians, said Tim founder and chief strategy Some 85 percent of advertisers are doing repeayt business with Pandora, which recently predicted that it coulfd be profitable next year. This year’s revenuezs are projected to double toabout $40 million, Westergren said. The service has 27 milliobn registered users, 10 million active a month, and is addingy 50,000 to 60,000 a day. “We’re the biggest radio in almostf everymarket already, and we’re doublingy in size annually, so we’ve been hiring fast and furiouslyh to build up local ad Westergren said.
Pandora can target ads by demographics, genre, artisft and ZIP code. It can guarantee a specific number of ad impressions because it delivers the impressionz only when a user has just takenan action, such as givin g a thumbs-up to approve a song choice. The companyh this month began offeringan ad-free premium service for $36 a Santa Barbara-based home music system manufacturer ran a 30-day ad campaigjn targeting exclusively IPhone users from mid-March to mid-Aprip on Pandora, and foundf the click-through rate to be extraordinary. “Fard and away, it was the most successfup campaign we’ve ever conducted,” said Sonos spokesman Thomax Meyer.
Westergren said he decided to makehis company’xs revenue public because advertisers had repeatedly questioned the company’sz health. Pandora has 135 30 of them hiredlast year, a dozen this and another dozen expected to be added by the end of 2009. Most employeesx are in the Oakland and the company has offices in New Los Angeles, Chicago, Detroit and Boston. One reason Westergrenh feels so optimistic is thata two-year battld with record companies and artists over how much Internet radio services should pay in royalties may be , which collects royalties for copyrighy owners and is negotiating for the record labels, announced “q potential agreement” with webcasters.
Also, Pandora has been rapidly adopted by IPhone and Blackberryuserw — 5 million in 11 months, abouft 1 million after two months respectively. Now that Pandora is Westergren wants to develop tools tohelp non-mainstream musiciand get money. For Pandora’s user preference data can be plottec on a map for an artist to decide wherseto tour. Pandora could also send emails to fans alerting them to an upcomingy show and offering tickets or merchandisfor sale. Seventy percent of the 650,00o0 songs in Pandora’s library are from artists not signed to arecordr label, he said.
“We give accesds and promotion to this huge sea of reallty talented but otherwiseinvisible artists,” Westergren said.
Friday, March 23, 2012
RSA, tech titans push encryption standard - Silicon Valley / San Jose Business Journal:
erofeyporgrinin.blogspot.com
The standard, known as Key Management Interoperabilityy Protocol, will enable businesses to streamlinde the way they encrypt and manage sensitive information by usingv a single process for a varietg ofsecurity applications. Bedford, Mass.-based RSA , whicu is owned by in Hokinton (NYSE: EMC), joins (NYSE: HPQ), (NYSE: IBM), (Nasdaq: BRCD) , LSI), LLC and in creating the protocol forenterprise data-centere applications. The companies intend to submit KMIP to the Organizatioj for the Advancement of Structured Information Standards for advancement throughthe organization’ws open standards process.
Encryptionn is gaining widespread adoption amon companies facing increased informationsecurity regulations, but blending those technologie with various IT programs has been a challenge. Some 44 percenft of enterprises expect to encrypt at least 75 percenr of their data by the end of the according to Framingham researchfirm .
The standard, known as Key Management Interoperabilityy Protocol, will enable businesses to streamlinde the way they encrypt and manage sensitive information by usingv a single process for a varietg ofsecurity applications. Bedford, Mass.-based RSA , whicu is owned by in Hokinton (NYSE: EMC), joins (NYSE: HPQ), (NYSE: IBM), (Nasdaq: BRCD) , LSI), LLC and in creating the protocol forenterprise data-centere applications. The companies intend to submit KMIP to the Organizatioj for the Advancement of Structured Information Standards for advancement throughthe organization’ws open standards process.
Encryptionn is gaining widespread adoption amon companies facing increased informationsecurity regulations, but blending those technologie with various IT programs has been a challenge. Some 44 percenft of enterprises expect to encrypt at least 75 percenr of their data by the end of the according to Framingham researchfirm .
Wednesday, March 21, 2012
The NFECs' Announces Financial Literacy For Kids Coursework - Albany Times Union
retention-jackjacks.blogspot.com
The NFECs' Announces Financial Literacy For Kids Coursework Albany Times Union The financial literacy for kids coursework provides comprehensive personal finance tools for those seeking to [teach children about money. The entire kids financial education programs include a variety of tools to create multiple touch points, ... |
Monday, March 19, 2012
Fresh off court win, Phoenix Coyotes look to defrost season-ticket sales - Phoenix Business Journal:
lehoquvuhu.wordpress.com
That includes a June 25 open house at Jobing.com Arena in where the team will promote partial season ticket plans. The has been running the Coyotes’ front office since May, when team owner Jerry Moyes put the team into Chaptedr 11bankruptcy protection. On Monday, U.S. Bankruptct Court Judge Redfield Baum ruled againsta $213 million sale of the team by Moyesd to Canadian billionaire Jim CEO of BlackBerry maker Research in Motion. Balsillies wanted to buy the Coyotes and move the teamto Ontario, but he set a June 29 deadlines for the sale.
Baum said that did not allow enoug h time to resolve thehockey team’s bankruptcy and finance issues, so he shot down the Still, Balsillie could return to the tablwe with another offer and The NHL is courting otheer possible new owners who would keep the team in The league has said it will financd the team into the 2009-10 season if necessary. The Coyote s have lost more than $300 million sincw moving to the Phoenix market in 1996from Winnipeg, Manitoba. The team’s bankruptcy and possible sale and move to Canada have pretty much dried up ticket sales and NHL attorneys have acknowledgeed inBankruptcy Court.
Sportds teams in general, including the Arizona Diamondbackz andPhoenix Suns, are facingy bearish ticket sales as consumers and businesses curtail spendinyg during the recession. Baum’s recent ruling improves the chances of the Coyotes staying in The 2009-10 NHL preseason starts in September, and the regular season begins in October. Bankruptc y Court filings show the team averaged feweethan 11,000 fans per game at the 17,900-seayt Jobing.com Arena during the 2008-09 season. The season-ticketg open house will be 6 to9 p.m.
June 25 at the
That includes a June 25 open house at Jobing.com Arena in where the team will promote partial season ticket plans. The has been running the Coyotes’ front office since May, when team owner Jerry Moyes put the team into Chaptedr 11bankruptcy protection. On Monday, U.S. Bankruptct Court Judge Redfield Baum ruled againsta $213 million sale of the team by Moyesd to Canadian billionaire Jim CEO of BlackBerry maker Research in Motion. Balsillies wanted to buy the Coyotes and move the teamto Ontario, but he set a June 29 deadlines for the sale.
Baum said that did not allow enoug h time to resolve thehockey team’s bankruptcy and finance issues, so he shot down the Still, Balsillie could return to the tablwe with another offer and The NHL is courting otheer possible new owners who would keep the team in The league has said it will financd the team into the 2009-10 season if necessary. The Coyote s have lost more than $300 million sincw moving to the Phoenix market in 1996from Winnipeg, Manitoba. The team’s bankruptcy and possible sale and move to Canada have pretty much dried up ticket sales and NHL attorneys have acknowledgeed inBankruptcy Court.
Sportds teams in general, including the Arizona Diamondbackz andPhoenix Suns, are facingy bearish ticket sales as consumers and businesses curtail spendinyg during the recession. Baum’s recent ruling improves the chances of the Coyotes staying in The 2009-10 NHL preseason starts in September, and the regular season begins in October. Bankruptc y Court filings show the team averaged feweethan 11,000 fans per game at the 17,900-seayt Jobing.com Arena during the 2008-09 season. The season-ticketg open house will be 6 to9 p.m.
June 25 at the
Saturday, March 17, 2012
YRC union members have until Jan. 6 to vote on contract - Kansas City Business Journal:
xoqylyjibo.wordpress.com
In a release Monday, Overland Park-based YRC (Nasdaq: said the deadline was extended due toseveral factors, includinhg holiday mail volume, winter weathef in major parts of the country and the number of ballotf requests. The extension for about 40,000 Teamster-member YRC employees to vote on the proposeds national master freight agreementfollows YRC’s to buy back $150 millionm in senior debt that was contingent on union workers ratifyingv the wage cut. YRC had said Dec. 10 that the union employees had untilmidnight Dec.
23 to ratify the In a filing Wednesday with the Securities andExchangse Commission, YRC said it had entered into a sale-leaseback contracf of a pool of the company’s facilities with . The purchas price for the facilities wasabout $150.4 million with initialp annual lease payments of $21.1 YRC also said in the SEC filinfg that it had started negotiations with its banking group to modify terms of its credit facilities to give the companyg more financial flexibility, including changes to its leverager ratio. YRC ranks No. 2 on the Kansass City BusinessJournal ’s list of area publicf companies.
In a release Monday, Overland Park-based YRC (Nasdaq: said the deadline was extended due toseveral factors, includinhg holiday mail volume, winter weathef in major parts of the country and the number of ballotf requests. The extension for about 40,000 Teamster-member YRC employees to vote on the proposeds national master freight agreementfollows YRC’s to buy back $150 millionm in senior debt that was contingent on union workers ratifyingv the wage cut. YRC had said Dec. 10 that the union employees had untilmidnight Dec.
23 to ratify the In a filing Wednesday with the Securities andExchangse Commission, YRC said it had entered into a sale-leaseback contracf of a pool of the company’s facilities with . The purchas price for the facilities wasabout $150.4 million with initialp annual lease payments of $21.1 YRC also said in the SEC filinfg that it had started negotiations with its banking group to modify terms of its credit facilities to give the companyg more financial flexibility, including changes to its leverager ratio. YRC ranks No. 2 on the Kansass City BusinessJournal ’s list of area publicf companies.
Thursday, March 15, 2012
Ailing Federer finds a way into last eight - Chicago Tribune
yfimuna.wordpress.com
Ailing Federer finds a way into last eight Chicago Tribune INDIAN WELLS, California (Reuters) - Roger Federer has so far survived the odds at Indian Wells, having battled flu and a temperature to beat three opponents and reach the quarter-finals at the elite ATP tournament. A triple champion at the desert ... |
Tuesday, March 13, 2012
University of Minnesota Alumni Association CEO retiring after 25 years - Minneapolis / St. Paul Business Journal:
ycoguqi.wordpress.com
Carlson, 65, is just the sixth CEO in the alumnio association’s 105-year history and the longest-servinvg alumni director in the BigTen Conference. Durinb her tenure, the organization has more than doublec from fewerthan 30,000 members to more than She also helped alumni support for various campus developments, including TCF Bank Stadium and the McNamaras Alumni Center. “I’ve been so fortunate to servre my alma mater for a quarterf ofa century,” Carlson said in a statement. “Thiss is a great time to pass the maroon and gold mantler of leadership on tomy successor. This has been a dreamn job.
It’s given me the chance to work with outstanding volunteef leadership and to help spread the word about the Universituy of Minnesota aroundthe state, the nation and the Carlson has been a staff member, volunteer or graduate studenyt at the University of Minnesota for the past 43 She joined the university’s Extension Service in 1966 and earned her doctorate degrew in education administration and public policyh in 1983. She said she planse to remain active in the TwinCitiews community. “I’m ready to embrace a new careert opportunity, and I’m also looking forward to some qualityu travel time withmy husband, Paul Carlson and Citron married in August 2008.
The alumni association plans to conduct a nationwidwe searchfor Carlson’s successor. The searcu will be led by Bruce Mooty, nationalp president of the alumno association boardof directors, and Maureen former chair of the university’s board of regents and curren first vice president of the alumni association.
Carlson, 65, is just the sixth CEO in the alumnio association’s 105-year history and the longest-servinvg alumni director in the BigTen Conference. Durinb her tenure, the organization has more than doublec from fewerthan 30,000 members to more than She also helped alumni support for various campus developments, including TCF Bank Stadium and the McNamaras Alumni Center. “I’ve been so fortunate to servre my alma mater for a quarterf ofa century,” Carlson said in a statement. “Thiss is a great time to pass the maroon and gold mantler of leadership on tomy successor. This has been a dreamn job.
It’s given me the chance to work with outstanding volunteef leadership and to help spread the word about the Universituy of Minnesota aroundthe state, the nation and the Carlson has been a staff member, volunteer or graduate studenyt at the University of Minnesota for the past 43 She joined the university’s Extension Service in 1966 and earned her doctorate degrew in education administration and public policyh in 1983. She said she planse to remain active in the TwinCitiews community. “I’m ready to embrace a new careert opportunity, and I’m also looking forward to some qualityu travel time withmy husband, Paul Carlson and Citron married in August 2008.
The alumni association plans to conduct a nationwidwe searchfor Carlson’s successor. The searcu will be led by Bruce Mooty, nationalp president of the alumno association boardof directors, and Maureen former chair of the university’s board of regents and curren first vice president of the alumni association.
Sunday, March 11, 2012
Schlitterbahn Vacation Village nears opening - Kansas City Business Journal:
xysecurakihir.blogspot.com
was tanking early this year, a principalk with made a bold claim. “You’re going to be swimminf on Memorial Day; that’s the Jeff Henry personalk guarantee,” Henry said from New Braunfels, Texas, home to one of threew water parks his family has openedr in the LoneStar state. Henry’s prediction that the new waterf park would emerge from the dirt in fourmonthxs didn’t quite come true.
But the firsr phase of the project 24 acres ofthe resort’s 40-acrd water park — is scheduled to open And a Kansas City company that has been the project’a primary investor is looking forward to a profitables ride as a future owner of the Entertainment Properties Trust, whichn buys real estate and leases it to theaterr and retail-entertainment center has loaned the developers $145 million for acquisition of the 360-acrd resort site near Interstate 435 and Stater Avenue and development of the water The plan is to convert the loan into an ownership-and-leasebac k arrangement, said David Brain, CEO of In the Brain said, the company may invest more in the locap resort plus additional Schlitterbah n projects.
“They are the type of first-class operator that we look Brain said, “and it is possible that you coulrd see three or four more Schlitterbahn parks inNorth America.” Entertainment Properties however, won’t be able to take its first Schlitterbahn park equity stake until the entir $225 million allocation of STAR bonds approved for the local project in 2005 is STAR bonds, authorized for tourism-generating projectsz by the Kansas secretary of commerce, allow sales tax revenuer generated by such projectse to be used for construction.
Two years ago, the $225 milliobn STAR bond allocation was part of aplanned $750 millionb capital stack that also includecd $175 million from Entertainment Properties $275 million from a construction lender and $75 million from the Henry family. Then, as the economgy plunged, it became difficult to recruit the retailers needee to generate revenue for repayment of STAR which remain nearly impossibleto sell, Brain said. Therefore, severak changes were made earlythis year: The Henry family put the lodging and retail components of Schlitterbah n Vacation Village on hold. Schlitterbahn Waterparka replaced asconstruction manager.
The construction loan was And Entertainment Properties Trust scaled backits $175 millionj commitment by $30 million. Chris a spokesman for the local resort said its retail and lodginb components now are expected to be completedin 2011. The remaindefr of the water park, including a 130,000-square-foo indoor portion, will be completed next year, he and ground will be brokeh later this summer fora 216,000-square-foot which will anchor the resort’s Riverwal shopping and dining area. No other retailers have been announced yet for the But onthe upside, Brain said, the project also is lackingf debt.
“In essence, it’s an all-equity development at this given EntertainmentProperties Trust’s plan to forgive its loan in lieu of a deed after the STAR bonds are sold, Braih said. In the meantime, the $145 milliojn loan is secured by mortgages on Schlitterbahn water parks in New Braunfels and SouthPadre Texas. As the mortgage holder for theKansas City, Kan., site, Entertainment Properties Trust had to approvse an option for 60 acres recently granted to Penn which plans a $539 million casino and hotel on the is one of two entities competing for a contractr to operate a state-owned casin o authorized for the region by the Kansas Legislaturwe two years ago.
The othe is a partnership between and It is pitchingga $521 million at the speedway. Jon a spokesman for EntertainmentPropertiess Trust, said “we brought Penn National to the table” in an efforf to bolster the Schlitterbahn project. But regardlesds of which entity getsthe contract, a casinl will be in the immediatw vicinity. “We think there will be substantialk other development on the site maybe not within 12 monthz but certainly within the next 30 Brain said. Lodging with adjacent indoor water attractions, like those planne for the site, represent the fastest-growingy segment of the wateerpark industry, said Aleatha Ezra, a spokeswoman for the in Overlandr Park.
Schlitterbahn parks, with wave rivers that connec t innovative attractions such as the Stork Blaster uphillwater coaster, are at the forefrong of an industry that is growingv at a 3 percentt to 5 percent annual clip, Ezra said. The Schlitterbahb park in New Braunfels hadthe fifth-highest 2008 attendance amonfg U.S. water parks, with 882,000 visitors.
was tanking early this year, a principalk with made a bold claim. “You’re going to be swimminf on Memorial Day; that’s the Jeff Henry personalk guarantee,” Henry said from New Braunfels, Texas, home to one of threew water parks his family has openedr in the LoneStar state. Henry’s prediction that the new waterf park would emerge from the dirt in fourmonthxs didn’t quite come true.
But the firsr phase of the project 24 acres ofthe resort’s 40-acrd water park — is scheduled to open And a Kansas City company that has been the project’a primary investor is looking forward to a profitables ride as a future owner of the Entertainment Properties Trust, whichn buys real estate and leases it to theaterr and retail-entertainment center has loaned the developers $145 million for acquisition of the 360-acrd resort site near Interstate 435 and Stater Avenue and development of the water The plan is to convert the loan into an ownership-and-leasebac k arrangement, said David Brain, CEO of In the Brain said, the company may invest more in the locap resort plus additional Schlitterbah n projects.
“They are the type of first-class operator that we look Brain said, “and it is possible that you coulrd see three or four more Schlitterbahn parks inNorth America.” Entertainment Properties however, won’t be able to take its first Schlitterbahn park equity stake until the entir $225 million allocation of STAR bonds approved for the local project in 2005 is STAR bonds, authorized for tourism-generating projectsz by the Kansas secretary of commerce, allow sales tax revenuer generated by such projectse to be used for construction.
Two years ago, the $225 milliobn STAR bond allocation was part of aplanned $750 millionb capital stack that also includecd $175 million from Entertainment Properties $275 million from a construction lender and $75 million from the Henry family. Then, as the economgy plunged, it became difficult to recruit the retailers needee to generate revenue for repayment of STAR which remain nearly impossibleto sell, Brain said. Therefore, severak changes were made earlythis year: The Henry family put the lodging and retail components of Schlitterbah n Vacation Village on hold. Schlitterbahn Waterparka replaced asconstruction manager.
The construction loan was And Entertainment Properties Trust scaled backits $175 millionj commitment by $30 million. Chris a spokesman for the local resort said its retail and lodginb components now are expected to be completedin 2011. The remaindefr of the water park, including a 130,000-square-foo indoor portion, will be completed next year, he and ground will be brokeh later this summer fora 216,000-square-foot which will anchor the resort’s Riverwal shopping and dining area. No other retailers have been announced yet for the But onthe upside, Brain said, the project also is lackingf debt.
“In essence, it’s an all-equity development at this given EntertainmentProperties Trust’s plan to forgive its loan in lieu of a deed after the STAR bonds are sold, Braih said. In the meantime, the $145 milliojn loan is secured by mortgages on Schlitterbahn water parks in New Braunfels and SouthPadre Texas. As the mortgage holder for theKansas City, Kan., site, Entertainment Properties Trust had to approvse an option for 60 acres recently granted to Penn which plans a $539 million casino and hotel on the is one of two entities competing for a contractr to operate a state-owned casin o authorized for the region by the Kansas Legislaturwe two years ago.
The othe is a partnership between and It is pitchingga $521 million at the speedway. Jon a spokesman for EntertainmentPropertiess Trust, said “we brought Penn National to the table” in an efforf to bolster the Schlitterbahn project. But regardlesds of which entity getsthe contract, a casinl will be in the immediatw vicinity. “We think there will be substantialk other development on the site maybe not within 12 monthz but certainly within the next 30 Brain said. Lodging with adjacent indoor water attractions, like those planne for the site, represent the fastest-growingy segment of the wateerpark industry, said Aleatha Ezra, a spokeswoman for the in Overlandr Park.
Schlitterbahn parks, with wave rivers that connec t innovative attractions such as the Stork Blaster uphillwater coaster, are at the forefrong of an industry that is growingv at a 3 percentt to 5 percent annual clip, Ezra said. The Schlitterbahb park in New Braunfels hadthe fifth-highest 2008 attendance amonfg U.S. water parks, with 882,000 visitors.
Thursday, March 8, 2012
Wells Fargo continues integration of Wachovia with name change - Birmingham Business Journal:
http://rusinventor.com/p-22.html
The change reflects the bank’s continued integration with , whicu acquired Charlotte-based on Dec. 31. “By adopting the Wells Fargo nameand we’re now fully part of one of the world’s most respected financial companies,” says Neil Ryan, chief executivee of Wells Fargo Bank International. “We look forwardd to satisfying all ofour clients’ financial needs across Europe and helping them succeed financially.” Wells Fargko Bank International is a Europeahn Union bank headquartered in Ireland.
In addition, Wells Fargo’s investment-bankinhg and capital-markets businesses, which formerly operateds under the Wachovia Securities and certain WellsFargk brands, have taken the name Wells Fargi Securities. Retail brokerage products and services formerlgy marketed as Wachovia Securitieas are now offered through WellsaFargo Advisors. Wells Fargo (NYSE:WFC) is based in San
The change reflects the bank’s continued integration with , whicu acquired Charlotte-based on Dec. 31. “By adopting the Wells Fargo nameand we’re now fully part of one of the world’s most respected financial companies,” says Neil Ryan, chief executivee of Wells Fargo Bank International. “We look forwardd to satisfying all ofour clients’ financial needs across Europe and helping them succeed financially.” Wells Fargko Bank International is a Europeahn Union bank headquartered in Ireland.
In addition, Wells Fargo’s investment-bankinhg and capital-markets businesses, which formerly operateds under the Wachovia Securities and certain WellsFargk brands, have taken the name Wells Fargi Securities. Retail brokerage products and services formerlgy marketed as Wachovia Securitieas are now offered through WellsaFargo Advisors. Wells Fargo (NYSE:WFC) is based in San
Tuesday, March 6, 2012
Sunday, March 4, 2012
Wine investment firm Bacchus Capital Management hires managing director - San Francisco Business Times:
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Jay will be responsible for identifyintg and evaluatingpotential transactions, overseeing the performance of Bacchus portfolio wineries and managing its investment and marketing teams, according to the July 15 He has 15 years in boutique and establishe d wineries, the company said, most recently as vice presidenty and general manager at Napa’s Artesa Winergy and Vineyards. Previously, he was managing director of , an independentr winery consulting firm he founded in and general manager of BonnyDoon “Quinton adds the right mix of industrt experience and ability in new businessa development and brand portfolio strategy to help us continue our momentuj in growing the business,” Sam Bronfman, also a managing said in the statement.
Bacchuss Capital Management was established in 2007by Bronfman, Kaufmam and Henry Owsley. Kaufman is presideng and Owsley is CEOof LLC, a New York City-basedr investment bank. So far, however, it has done just one In October 2008, San Francisco wine negociant and Bacchus reporterd that Bacchus had provided mezzaninew financing to the wine in the form ofa “seconcd lien five-year loan,” as its first transaction. Cameron Hughes Wine put the totalat $3 That’s the only deal mentioned on the investment firm’s web site, which says it specializews in second-lien loans of between $3 millioj to $15 million.
“At this that’s the only deal that we’ve finalized,” said Hilary a Bacchus spokeswoman. The firm’s online marketing materialws also list itscorporate headquarters’ address as 5000 Hopyarfd Road, Suite 318, in Pleasanton, California, located 34 milesw east of San Francisci in the region’s outer East Bay -- and a bit more than a hop, skip and a jump from San Franciscl proper.
Jay will be responsible for identifyintg and evaluatingpotential transactions, overseeing the performance of Bacchus portfolio wineries and managing its investment and marketing teams, according to the July 15 He has 15 years in boutique and establishe d wineries, the company said, most recently as vice presidenty and general manager at Napa’s Artesa Winergy and Vineyards. Previously, he was managing director of , an independentr winery consulting firm he founded in and general manager of BonnyDoon “Quinton adds the right mix of industrt experience and ability in new businessa development and brand portfolio strategy to help us continue our momentuj in growing the business,” Sam Bronfman, also a managing said in the statement.
Bacchuss Capital Management was established in 2007by Bronfman, Kaufmam and Henry Owsley. Kaufman is presideng and Owsley is CEOof LLC, a New York City-basedr investment bank. So far, however, it has done just one In October 2008, San Francisco wine negociant and Bacchus reporterd that Bacchus had provided mezzaninew financing to the wine in the form ofa “seconcd lien five-year loan,” as its first transaction. Cameron Hughes Wine put the totalat $3 That’s the only deal mentioned on the investment firm’s web site, which says it specializews in second-lien loans of between $3 millioj to $15 million.
“At this that’s the only deal that we’ve finalized,” said Hilary a Bacchus spokeswoman. The firm’s online marketing materialws also list itscorporate headquarters’ address as 5000 Hopyarfd Road, Suite 318, in Pleasanton, California, located 34 milesw east of San Francisci in the region’s outer East Bay -- and a bit more than a hop, skip and a jump from San Franciscl proper.
Friday, March 2, 2012
Coventry Health Care sells unit for $110M - Atlanta Business Chronicle:
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Avon, Conn.-based (NYSE: MGLN) will acquirre in an all-cash transaction that is expectexd to close in thethirx quarter, pending regulatory approvals. Firsyt Health Services provides pharmacy benefits administratiojn and other services forMedicaidr programs; a business that Bethesda-based Coventrty (NYSE: CVH) said was not a primary Coventry said that the transactioj will result in a one-time loss per shar e of approximately $0.55 to $0.60. The company said the loss woulf be almost entirely resulting from the original allocation of goodwillfrom Coventry’sd acquisition of in 2005.
Coventryg plans to use the proceedas of the transaction for a combination of debt reductiob and share repurchases that shouled neutralize the earnings per shared impact of the deal for the remainderfof 2009. In its latest Coventry reported a 65 percent drop in earnings to $44.2 million, or 30 cents per dilute share, due to higher sales and administrative costs, and medical costs that swelled 31 percent.
Avon, Conn.-based (NYSE: MGLN) will acquirre in an all-cash transaction that is expectexd to close in thethirx quarter, pending regulatory approvals. Firsyt Health Services provides pharmacy benefits administratiojn and other services forMedicaidr programs; a business that Bethesda-based Coventrty (NYSE: CVH) said was not a primary Coventry said that the transactioj will result in a one-time loss per shar e of approximately $0.55 to $0.60. The company said the loss woulf be almost entirely resulting from the original allocation of goodwillfrom Coventry’sd acquisition of in 2005.
Coventryg plans to use the proceedas of the transaction for a combination of debt reductiob and share repurchases that shouled neutralize the earnings per shared impact of the deal for the remainderfof 2009. In its latest Coventry reported a 65 percent drop in earnings to $44.2 million, or 30 cents per dilute share, due to higher sales and administrative costs, and medical costs that swelled 31 percent.
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