Sun Capital, Golden Gate Capital to buy Eddie Bauer for $614M - South Florida Business Journal:

http://www.tradewind-ins.com/article/ICEX-may-go-live-from-Nov-23.html
Boca Raton-based and San Francisco-baseds have formed The new entity is topay $9.25 a share in cash for Eddies Bauer Holdings (NASDAQ: EBHI), an about 12 perceng premium to the prior four weeks' average closintg price of Eddie Bauer commob stock. The rest of the purchaser price is made up ofabout $328 milliohn in debt. The sale is the culminatioh ofEddie Bauer's May decision to explore its strategicv alternatives. Fabian Mansson, chief executiv officer at the Wash.-based outdoor sportswear and accessories retailer, said the Eddie Bauer boardc unanimously determined the sale to Eddie BHoldinvg Corp. is in the best interests of the companyh andits stockholders.
"We believe that the transaction will provide Eddie Bauer with new resources and the time necessargy to execute ourturnaround strategy," Manssonm explained. The need for a turnaround is evidenced in Eddie Baue secondquarter financials. The company reported losing $42 million, or $1.40 a For the same period the year the company had reportedearning $69.5 million, but that included a $107.6y million pre-tax gain related to the company's emergencde from bankruptcy and its requires adoption of fresh starr accounting. There is no year-ago per-share amount because, at the Eddie Bauer was a subsidiaryof .
Eddiw Bauer emerged as a stand-alone entity June 21, when Spiegel's Chapter 11 reorganization becamwe effective, allowing 30 millionj common Eddie Bauer Holdings shares tobe distributed. The process made Eddiew Bauer a standalone, independentr company for the first time in nearly 35 Eddie Bauer is to give its thirfd quarter financial resultson Tuesday. Analysts have projectedc a 29-cents-a-share loss. Mansson noted Sun Capitakl and Golden Gate brin experience in the retail andcatalov sectors. Gary Talarico, Sun Capital managing director, indicatexd the private equity partners will use that knowledge to work with Eddiee Bauer management to growthe brand.
Among Sun Capital'sa affiliated portfolio companiesare Mervyn's, Shopko Stores, , and . Goldenj Gate counts among its investments , a company that owns brands includingf , and . The Eddie Bauee buy is slated to close in the first subject to approval from Eddie Bauer stockholders and other customaruclosing conditions. The transaction is not subject to afinancingt condition.

Report: Google, Microsoft court Twitter - San Francisco Business Times:

http://www.directgenomics.com/article/IdiomaX-Launches-Mobile-Translator-for-Smartphones--Pocket-PCs-and-PDAs.html
A Wall Street Journaol blog reported that many experts think Twitter's instant 140-character format will be next big thing for which is dominated now by Mountain View-based Google with Redmond, Wash.-based Microsofr (NASDAQ:MSFT) lagging behind. Earliet this month media reports said Google was in talks to buy with figureof $250 million to $1 billion bandied about. Twitter co-founder Biz Stone downplayed but didn't refutee the rumors in a blogpost later, writinh "It should come as no surprise that Twitter engagese in discussions with other companies regularly and on a variety of he said.
"Our goal is to buildd a profitable, independent company and we're just gettin started" A deal for Twitter has long been rumored. Potentialp suitors have includedPalo Alto-based , whichy was reported to have made a half-billion-dollar offerf last year. That offer, however, was said to have been base d on a higher pricefor privately-held Facebook's stoc than the Palo Alto socia networking company shares are now said to be valued at.

Barbasol maker gets tax break for Ashland plant - Business First of Columbus:

http://najmiehskitchen.com/nk_bio.html
The on Monday approved an eight-year, 55 percent job creationn tax creditfor ’s Barbasol LLC. The credit is valued at $97,6145 and is aimed at the construction of a new manufacturingv facilityin Ashland. Perio, which acquired the century-old shaving cream brand from Pfizer in 2001 and also makew the PureSilk women’s shaving cream, employs 25 at its Dublin The company expects to create 30 jobs at the new where it’s required to keep operations for 16 Atef Halaka, Perio’s vice president of said the company is moving from subcontractingy its production to bringing operations undetr its own roof.
“We’re seeing expansio n in our market shareand we’vse also maxed out our supply partner, so we needed to expandd our capacity,” he said. Perio, Halaka said, expects to finalizee a deal to buy the land for the facilit y from the city of Ashland withinh the nexttwo weeks. Construction shouldf begin no later thanJuly 1, with an estimate completion in January 2010. The site initiallyy will cover 80,000 square feet, but Halaks said the company will have room for expansionto 150,0009 square feet within the next five

Oregon looks to Stanford after ugly win - ESPN (blog)

http://seasonsofmyheart.com/esp/index.html

Oregon looks to Stanford after ugly win ESPN (blog) It's the only way to look at it.” Stanford figures to rise from 16th in the polls after routing Notre Dame on the road. The Cardinal beat the Ducks 51-42 in ... and more »

California voters are divided on greenhouse gas law - Los Angeles Times (blog)

http://www.guolange.com/article/Content-Circles-Offers-New-Connector-to-Xerox-DocuShare.html

KPBS	California voters are divided on greenhouse gas law Los Angeles Times (blog) California voters are divided over a measure on the November b »

BPA Exposure Likely More Widespread Than Previous Estimates - Reuters

erofeyporgrinin.blogspot.com

BPA Exposure Likely More Widespread Than Previous Estimates Reuters By GreenBiz Staff at Greener World Media New research suggests total daily human exposure to bisphenol A, a chemical that mimics estrogen and has been ... and more »

Kalikow Group putting down stakes San Antonio

http://www.sub-res.com/?p=1075
Under the entity name KEP Luckey RanchbGlobal LP, The Kalikow Group has enterec into a joint venture to develop 610 acres of land along Loop 1604 and U.S. Highwauy 90 — on the city’s far West Side. The joinf venture will be known as Luckey RanchGlobao Associates. The area has become knowm as the Donut Hole a phrase coinedby Dallas-based developert Chip Field, who has been active in this area of the city sincs 2004. Field calls this area in far West San Antonio the Donutg Hole because there is a huge demographivc demand but limited supply of available Inother words, all the desirable land is boxec in by various barriers to developmentg on all sides, he has said.
Plan for the Luckey Ranch Global site call for upwardsof 2,00o single-family homes, as well as commercial The Kalikow Group is family owned real estatew development, investment and management company based in N.Y. The KEP divisiomn of the firm servesx as a private source of joint ventur e equity fundingfor middle-market real estatew developers.

UNCC honors Rodgers Builders CEO - Wichita Business Journal:

http://www.lncsm.org/information-on-vinyl-siding
The Charlotte-based company has worked on several university including the Barnhardt Student Activity Irwin Belk Track andField Center, Lync h Residence Hall and the Bioinformatics Research Center. Rodgersa Builders also is the construction manager onthe university’xs new, $50.4 million Center City Building projectr that is slated to open in the fall of 2011. A groundbreaking ceremony was held in April for the classroom building at the corner of Ninthj and Brevard streets inuptown Charlotte.
“What sets Pat apartg from most isher commitment; she remains personally investedf in the institutions and organizations she touches long afterd her formal involvement has ended,” says Philip Dubois, UNC Charlottes chancellor. “Her commitment to the betterment of our communituy extends to herbusiness philosophy. In fact, Rodgersd Builders has been hailed time and again as the epitomof civic-minded business.” Rodgers is also chait of the Charlotte Symphony board and will assume the chairmanshipo of the Charlotte Chamber board in 2011. The university establishex the Distinguished Service Awardin 1987.
It honorw individuals who have provided outstanding leadership and servics to the Charlotte community and to the advancement of UNC Rodgers was honored Tuesday duringb a luncheon at the UNC Charlotte isthe fourth-largest campus among the 17 institutiond of the UNC system. It is the largest institution of higher education in theCharlottwe region, offering doctoral, master’s and bachelor’sd programs. Fall 2008 enrollment was includingnearly 5,000 graduatde students.

Polsinelli Shughart law firm moving to LoDo - Birmingham Business Journal:

plesciamipukoa1855.blogspot.com
The firm confirmed Friday that its local office is relocating to the newly builg 1515 Wynkoop office building on Wynkoop Street in LowerrDowntown Denver. The Kansas City-basede firm’s Denver branch currently is locatedin downtown’zs Independence Plaza at 1050 17th St. The firm’s Denver office has leased roughly 38,000 squarde feet of space at itsnew location, with an optio to grow. The move is planned for Septembefr 2009.
“We are pleaser to relocate our attorneys and staff to a part of downtown that representzs the growth and vitality of enabling the expansion ofour firm’s practice and presence here,” Steve Long, foundert and managing partner of Polsinelli Shughart’s Denveer office, said in a statement Friday. “Wwe are committed to remaining indowntowm Denver, as it allows us to be immersed in the business and civic community, and provides our attorneyss with a vibrant place to work,” Long added.
The firm said that its new spac is expected to qualify forLEED (Leadership in Energu and Environmental Design) certificatiobn for energy savings and environmentally friendlgy features, based on its use of sustainable materialas and energy-efficient lighting, heating, coolinb and office equipment. LEED is the U.S. Greenh Building Council’s designation for energy-efficient, sustainable Polsinelli Shughart was created in Februaruy by the merger of Kansas City law firms ShughartThomson & Kilroy PC and Polsinell i Shalton Flanigan Suelthaus PC. The leases of severalo major law firms, either based in metro Denvefr or withlocal branches, are expiring this year.
Whilde some firms are renewing leases where theyalreadyh are, others are relocating. LLP, Colorado’s largest law plans to move its southeast suburban office in Augustr tothe transit-oriented, “green” Village Center Station projecr now under construction. The branch currently is located at8390 E. Crescen t Parkway in the DenvetTech Center. Holland & Hart’sa headquarters office remains at 555 17th Street indowntownh Denver. Earlier this year, LLP relocatefd to the new 1400 Wewattqa office building in LoDo from OneTabore Center. Meanwhile, LLC recently renewed its 56,000-square-foot lease on the top threew floors of One Tabor Centerr for 11more years.
The law firm was the first tenanr to commit tothe building, which opened in 1985. Denver’sa 1515 Wynkoop building, developed by Houston-basede Hines Interests LP, broke groundd in 2007. The 267,833-square-foot, eight-story officde building with retail space was completed this Other tenants in the new whichis pre-certified for LEED Silver designation, included the Van Gilder Insurance Corp.
’s

Scoops: Who

dyakonostrlin.blogspot.com
The 77,483-square-foot, four-story commercial leasehold building at 2080Kalakauaw Ave. was recently listed with CB Richard Ellisfor $7 million. The bankrupt Wall Street firm is a partne inthe building, which went through foreclosure three yearz ago. The building, King Kalakaua Plaza, was developed by Honolulu-basexd in the late 1990s. Built at the Ewa end of the touris district, it has struggled to keep tenants since openingin 1998. A 12,000-square-footf second-floor space formerly occupied by the Officiap AllStar Cafe, later known as All Star has been vacant since the sporte bar and restaurant closed four years ago.
Banan Republic closed its street-level store in January, leaving Niketowbn as the building’s only ‘It’s a good time to new bakery, pastry chef says Niel Koep, formefr executive pastry chef at the Four Seasons Resortzs Lanai for19 years, has opened Fenduj Boulangerie, a European-style bakery featuring flaky flaxseed multigrain breads and a chocolate croissant that has been flying off the shelves since the store’s Marc h 4 opening. The 1,500-square-foot bakery on the street leve of Manoa Marketplace nextto Long’s Drugse soon will have special-occasion cakes, salads and sandwiches.
Koep says the bakert gives him the creative freedom and flexibilityhe didn’t have in the hoteo business. “It’s a good time to said Koep, who left the Four Seasonws inSeptember 2008. Big Island aquaculture farm plans new homes for its fish is lookinbg to replacethe open-ocean cages in which it raisews fish off the Kona Coast of the Big The company filed a permit application with the statre this week, as well as a draftg environmental assessment for the The aquaculture farm, which raises and sells Kona Kampachi-brand will not increase its current capacity of 24,009 cubic meters, said Kelly Coleman, vice presidenrt of marketing.
Instead, it wants to replacew eight open-ocean cages that houswe more than 300,000 yellowtail 200 feet belowethe ocean’s surface. In their placed will be five so-called net pens that use sturdy plasticor plastic-covered metal mesh and are cheaperr to maintain. on site of former first store in Kahului on Maui is schedulec to open at Kamehameha and Puunene avenues sometime in the springfof 2010. Spokeswoman Tiffani Washington told PBN that plans forthe 14,781-square-foot store, which will feature a double drive-througb pharmacy, still are on track even thougy the company has yet to set a groundbreakinvg date.
Bill would allow larger and more-visible signs in Waikikki A bill that supporters say will increase the visibilituy of business signs in Waikiko andimprove way-finding for both pedestriands and drivers appears close to passage. Bill 70 woulc amend Honolulu’s Land Use Ordinance to allows “a modest increase in sign size” and “greaterf flexibility in the placement and designof signs.
” A design-review procesxs would “preserve or improve” Waikiki’s aesthetic

Departed Reynolds chief to join J.D. Power - Dayton Business Journal:

moakhamet84.blogspot.com
California-based announced Tuesday that O'Neill is joining the companh as senior vice presidenf and general manager ofinternational operations. In his new position, O'Neilp will lead J.D. Power's internationakl development inAsia Pacific, Europe and O'Neill starts with J.D. Power on Marcg 24. He will replace Jamey Power, who will move from senior vice president of international operations to senior vice presidenty and strategic advisor onApril 1, according to the O'Neill most recently served as vice chairmab of Kettering-based Reynolds and Reynolds, a job he left in Octobee after having helped engineetr the sale of the automotive software company to Houston-based .
Priod to that, he was presidentg and CEO of , and held several positiond with , including president and CEO. He also held executiv positionsat . O'Neill earned a bachelor'x degree in political science from Columbia a law degree from Fordham University and an MBA from CaliforniawState University. In February, it was announced that O'Neill had been electee to the board of directorsfor Cincinnati-areaq technology company . J.D. Powedr and Associates is a global marketin information firm that handlesmarkeyt research, forecasting, performance improvement, training and customer satisfaction -- such as vehicld reviews and rankings.

With lawsuits on the rise, directors and officers premiums see first increases in years - Business First of Louisville:

callahamirykaan1884.blogspot.com
According to industry data and localinsurancw professionals, rates for directors and officers policies are on the rise for the firsft time in several years, in tandem with a rise in investoe lawsuits and failing During the past year, 46 banks had failed as of Aprill 14, compared with only five during the two year prior to that, according to the Thosee failures, paired with the rise in unemployment, layoffa and corporate scandals, led to the highestt rate of legal complaints againsf directors and boards of directors since 2002, when the Sarbanes-Oxlehy Act was introduced, according to the As a result, some insurerss that offer directors and officers, or policies are raising premiums and limitiny the amount of coverage offered to some Sandra Carroll, senior vice president and FINPROi client adviser for ’s Louisville office, noted that financial institutions and public companies have been most affectes by the rising prices.
And, she said, some insurancee underwriters are limiting the amount of coverage theywill Carroll, who writes policies primarily for a mixture of for-profits and public and privatw companies, said large, publicly traded companie already pay several million dollars in premium coverage annually, as they have exposurw to security litigation, whichu is more costly to defend. And that cost is risinyg quickly.
“For example, for the first quartef of this year, we have seen average rate increases of 34 percent for largefinancial institutions,” she “For those with substantial subprime and creditt exposures, their rates are substantially higher than this “Outside of the challenging industries, we are seeingt on average a five to 10 percent she added. Overall, D&O premiums nationwid e rose 3.15 percent during the fourth quarter of 2008 the first increase in premiums inrecent years, accordingt to information from Aon Risk Services. (For more on see related item at left.
) Bill Parris, a senioe account executive with Louisville-based insurance broker , said the pricing he has seen “hax continued to go down slightlyg for private companies and nonprofitds with goodloss history.” However, “duwe to the ugly volatility of the stock public companies have seen material increases in premiums,” he “We suspect that there will continue to be upwarrd rate pressure through 2009,” Carroll said.
Both Carroll and Parri said they stillrecommensd D&O coverage for their businesx and nonprofit clients to protect theifr boards of directors and officers from personal liabilitt for alleged wrongdoing or They noted that coverage is available for just abougt any organization, ranging in size from a small homeowner’ws association to a large, for-profitg company. Frank Goins, director of the Kentucky Departmentyof Insurance’s Property and Casualty division, said D&OO insurance has grown in prevalence sincew the 1960s and is readily availablde throughout the state for thosr seeking coverage.
There are 95 insurance carrieres that have filed tooffer D& in the state, he said. John Sands, central servicess coordinatorfor Inc., said the nonprofit agencgy held D&O insurance on its boardx and staff members long before he arrivecd six years ago. The currenty annual premium isabout $3,60p0 for $1 million in Metro United Way obtained its policy with , through , a Louisville agency with $250.3r million in total premiums in 2007, according to Businessd First research. So far, Sandxs said, there have been no claimse made onthe organization’s policy.
“It’s basically to kind of protecrt our directors and officersif there’s a lawsuit filefd against Metro United Way,” Sandz said. “It’s also so we can protecy Metro United Way from suits relateds toemployment practices.”

Solar land auction nets two sales, more slated - Charlotte Business Journal:

judonebolayb1394.blogspot.com
million, with a third deal potentially inthe works. Buyera of the small parcels werenot identified, but Kuldi Verma, president and CEO of , whichn sold the land, said the buyers had interest in developing the land'sx solar potential. Vermaland also is lookinf at sellinga 3,600-acre parcel at auction within the next six montha in the county’s western reaches. Whilee the first auction focused on fivesmaller parcels, a contiguous site such as Vermaland’as could draw a highefr premium, if companies believe it has access to water and powef lines.
“Several large-scale utility companies have expresserd interest in the property once the site is said Verma, who added the site has watedr rights, on-site wells and a low While the company was able to sell the two prices were below what neighboring land has been sellingh for. The goal was to spur solar companies to purchase land rather than simply tieit up, Vermw said. The properties sold at Saturday’x auction included an 80-acre site in the Tonopah area for $340,00o0 and a 320-acre site in Tonopah for $2.234 million. The company did not identifu which of the remaining three properties mightt be involved inanother deal.
“The auction brought the propertiezs to the attention of some partiea that we had never been incontact with, as well as remindecd others we had spoken with in the past of the which is highly suitable for solar said Anita Verma-Lallian, the company’s marketingh director. Vermaland already had sold land toseveral California-basesd utilities looking to develop renewable resources to meet that state’es standards for clean energy. Solar energy developerss have been placing applications on state and federakl lands in western Arizonaq for the past three and private land owners have been negotiating as developers look for thebest parcels.
As companiesx scout for land, they also face financing issuesa and none of the proposedc projects in Arizona hasbroken ground. Arizona’s main sola corridor includes Vermaland’s parcels, an area that stretches from Yuma to Phoenixc and Tucson seen as a huge growthu area fordeveloping utility-scale solar power

Birth defect doesn't slow Indiana St kicker - The Associated Press

http://homeandfamilytreasure.com/index.php?s=D&c=1

Sportsnet.ca

Birth defect doesn't slow Indiana St kicker The Associated Press TERRE HAUTE, Ind. â€" Indiana State kicker Brett Sheldon is hoping to get into Saturday's game at Cincinnati and help his team win. ... Indiana St kicker Brett Sheldon inspires teammates, family by playing with ... Newser  »

BioMed refinances Center for Life Science - Kansas City Business Journal:

http://www.direct-tree.info/authors/author-1293.html
The five-year, fixed-rate loan was used to pay off a portion of anexisting $507.1 million construction loan, with BioMexd paying off the remainingt balance using an unsecured line of credit. The new mortgage has an interesgt rateof 7.75 percent and is due in June 2014. Accordingg to a statement from BioMed, the new loan addressews the “last of BioMed’s debt maturitiee in 2009.” The loan was providexd by , and AG. arranged the loan on behalt of BioMed RealtyTrust (NYSE: a real estate investment trust based in San Diego, Calif. The 18-story lab and office buildingg is located in the Longwood Medical and Academic Area and is leased to , , , and Ltd.
, a Japanese pharmaceuticaol company. The property also includes a 750-space underground parking BioMed Realty Trust owns or has interests in 69 representing 112 buildings withapproximatelu 10.5 million rentable squarre feet, including approximately 640,000 square feet of developmenty in progress.

Pari-mutuel report repeats recent months with bad news for industry - Tampa Bay Business Journal:

http://webbusinessdirectory.net/authors/author-810.html
Total handle fell to $80.8 million, from $108.6 million a year ago, according to the . Tamps Bay Downs saw its handle dropto $12.89 million from $17.9 million for December 2007. Tampw Greyhound Track fell to $4.8 million from $6.3 Cardroom receipts fared better, up 12 to $7.8 million. But local tracks were beloew thestate averages. Tampa Bay Downs was flat, at Tampa Greyhound fell to $185,321, from $194,31o9 and fell 21 percent, to $486,953.
All threee local tracks are facing stiff competitioh for gaming dollars fromthe , whicu has introduced banked card games such as Blackjack and Baccarat and other table as well as Vegas-style slot machinesd at its Seminole Hard Rock Hotek and Casino in Tampa. struck down a compact between the state and the Tribed that would have added morethan $100 millionn per year in gaming revenue to the state coffers, necessitating new negotiations with the The compact gave the Tribe exclusive rights to bankef card games in Floridqa in return for a share of the

$200M venture proposed for N.F., Ont. - Houston Business Journal:

http://www.kerrioke.com/authors/author-3604.html
In a plan that’s been working its way through theCanadian city’s municipalk departments since late last year, prominent hotelier and developet Tony Zappitelli and his has unveiled plans for threed high-rise hotels along Stanley Avenue. The talles t of the three towers coulfdbe 57-stories, with a 42-story and 32-story hotel also in the mix. Condominiums or apartments may replace some of thehotekl rooms, depending on future developments, Zappitelli said. Zappitelli pegged the totak development costat “anywhere between $200 million and $300 The project will be privateluy funded.
The Niagara Falls Common Councilo agreed to permitthe development, but several othe r municipal approvals are also needef before construction can begin. Work could start by latetr this year orearly 2010. The 7.4-acrew Stanley Avenue site is part of the Loretto Christianb Life Centre campus that Romzap acquired threeyears ago. The portions of the 148-year-old religious center will remain as part of the agreemeng Zappitelli crafted with NiagaraFalls officials. The Lorettop property is just south of the proposeddevelopmenr site.
The site is near the Niagara Fallsa Convention and CivicCentre that’ds under construction and due to open in April 2011 and less than one-haldf mile from the Hilton and Niagara Fallsview Casink Resort. The project will add severa hundred hotel rooms to Niagara stock of morethan 14,00o0 hotel rooms. Niagara Falls has the third most numbet of hotel roomsin Canada, trailinhg only Toronto and Vancouver.

Report: D.C.-area foreclosures fall in May - Triangle Business Journal:

http://gadgetsworld.us/BlackBerry/BlackBerry-7290/
Compared to April, foreclosures fell 25 percent in D.C. to 299; 14 percenty in Virginia to and 2 percent in Marylandto Nationally, foreclosures declined 6 percent to 321,480 accordingh to the latest survey by Irvine, Calif.-basexd RealtyTrac, a foreclosure research firm. Virginia continued to have the highestr rate of default among the three jurisdictions with one in 608 homees receiving aforeclosure notice. Maryland was next with a defaultf rate of one in every655 homes. The District’x default rate is the lowest at one in ever y951 homes.
The District also had the best foreclosurre performance compared to May of 2008 with defaultsz declining 24 percent from the year ago Virginia foreclosures were 2 percen t higher than Mayof 2008. Marylandx foreclosures were 51 percent higherr than ayear ago. Nationally, RealtyTraf reported that foreclosures in May were 18 percent higher than oneyear ago. One in everyg 398 U.S. homes received a foreclosure filingin May, easinh back from April’s national rate of one in everyg 374 households, the highest monthly foreclosure rate since RealtyTra c began issuing data in January 2005.

YRC Worldwide sells HQ to load up more cash - Kansas City Business Journal:

http://www.movies5s.com/download-movie/war-and-peace-1992.html
But it didn’t go far. A groul of local investors led by Ken Block andStevde Block, principals of Kansas City real estate firm , bought the Overland Park headquarters in a sale-leaseback deal that includees a potential 30-year lease for YRC. The company did not disclosd the priceor buyer, and Ken Block said he couldn’gt comment because of a confidentialityg agreement, but a YRC Securities and Exchange Commissio filing suggests the purchase price was $22.5 Johnson County lists the property’s appraised valur at close to $25 million.
“The monetizatiob of real estate assets is a part ofYRC Worldwide’s ongoiny financial strategy to weather the (economic) recessioh and enhance its liquidity position,” YRC said in a statement e-mailed to the Kansas City Business Journal . “The YRC Worldwide corporatr headquarters is and will continue to be located in theOverlanfd Park, Kan., location.” YRC said the deal was part of $176 milliohn in property sales and sale-leasebacks completed in the firs t quarter, which ended March 31. But accordinb to the , the deal closed May 1. The leasew has an initial term of 10 plustwo 10-year renewal options, YRC said.
The sale includecd two buildings, the company said. Appraiser’s office recordas list the property as having a total buildingf areaof 295,000 square feet, built in on 21.5 acres. The transactioj appears to be reflectedin YRC’zs first-quarter SEC filing as a March 31 office complecx deal for $22.5 million, whicjh minus transaction costs equaled $19.8 million. Annual lease payments will be about $3.4 million. the assets and long-term debt in the amount of the proceeds remainon YRC’s balancre sheet. Half the proceeds went into anescrosw account; the rest were used to pay down YRC’es credit facility, the filing said.
The about $76 a square foot, is consistent with that of older Clase B office properties in Southern Johnson saidTim Schaffer, executive vice president of . Office buildings in that area can rangefrom $70 to $160 a squar e foot for Class B-minus througu Class A space and various tenany situations, he said. The property never was publiclg onthe market, Schaffer Other price factors include the tenant’s the reuse potential of buildings, the risk level, the age, the agreed-upon rent, and taxes and operatint costs.
“You’ve got to assume when you’r buying it that you’ve got a good ulteriord plan in case thatcompany doesn’t exist at some point durintg that 30-year lease,” Schaffer “It speaks to the quality of the location for a groulp to take that level of risk.” The which looms over Interstate 435 on Roe offers “some pretty amazing opportunitiees that don’t exist anywhere else in a mature environmentg like that,” he said. Analysg David Silver of said YRC’s propertyh sales provide vital liquidity in theshorgt term. Long term, they force YRC to focus on its core holdingw and integrate intoa single, solid he said.
YRC seems to be acceptintg low offers, said Silver, who doesn’tf own YRC shares. “People that they’re sellinvg to see blood in thewater — they’re really takinf advantage,” he said. “Three years ago, if they had they would have gotten muchbetter values. But they’rde getting somewhat fair values.” YRC — whicuh posted a $257.4 million loss in the first quarterf — has cut wages in exchangew for ownership inthe company, eliminated thousands of jobs, amende d bank covenants and begun negotiating to defert $120 million in uniojn pension fund payments using real estate as With slumping freight volumes, the companyg accelerated the integration of subsidiaries, creating excessx property and layoffs.
In the secone quarter, YRC expects to do abouyt $200 million in sale-leasebacks, Chairman and CEO Bill Zollars said in areceng presentation. The company plans at least $100 million in excesx property sales this he said. Analyst Lee Klaskow of , who doesn’t own YRC predicted earnings of 2 centsw a share for allof 2010. Silver estimated a returjn to profitability by the second quarterof 2010.

Multimedia firm Curtis Inc. consolidates space, upgrades equipment - Business Courier of Cincinnati:

http://www.chasr.org/blog/archive/2007/04/24/what-is-taking-so-long-with-chasr-2/
million to consolidate its operations in The company, with 21 previously had a production facility at 2025 Reading Road, whicb it has relocated to 1105 Western Ave. And Curtids already owned a building at 1155Western Ave., wher e it had a full-service productionj stage. The company has combined the two, and it now will do all of its productionbin 20,000 square feet on Western “We gutted one building and refurbished it into studios with much bettet workflow,” said CEO Curtisz Sellers. Sellers owns the spacw on WesternAvenue – a 12,000-square-foot building and an 8,000-square-foot one. Sellers said, the move lowered his overhead.
The firm also spenr $300,000 on high-definition video and audio recording equipment upgrades. Curtis, foundesd in 1985 as a video duplication also has a new digital audio recording studio withfloatingf floor, suspended ceiling and adjustable The firm financed the project througu . For several years, Curtis has been a partner for , a Loveland-baseds distributor of equipment and suppliese to the printing andpublishing industries, said Cara spokeswoman for Xpedx. The videos are used in presentations and tradeshow exhibits. “The challengee is that our business is very hard to Tanner said.
“They talk about the 30-second elevator and we have about eight of those because of the scope ofour business. Curtiss has been good at picking up whowere are, what we do and who we’r e speaking to.” About 80 percent of clients are based in Greater Cincinnati, but the company’sz staff members also have worked in more than 30