ywyjihu.wordpress.com
The number is an increase over thejewelry chain'as that it planned to closre 60 unprofitable stores over threee months. Zale operates 21 storexs in Massachusetts. The company said it expects to saveabout $34 millioh in expenses through fiscal 2010 with the reduction in the number of Zales and stores, which will be closed as leases Zale said. Zale Corp. did not releasw details of which stores would be Zale Corp. plans to slashn $175 million from its budget through cost andinventoryu reductions, including the elimination of 245 jobs. Of those job cuts, 75 were unfilled positions, according to the Dallas-based Zale Corp. (NYSE: ZLC) postedx a loss of $23.
6 million, down from a profitf of $60.8 million during the same quarte rlast year. The company attributes its loss partlu to charges related to goodwill impairmentsand $5 milliom in expenses tied to store Sales during the quarter hit $679 a 17.9 percent decline from $828 million the year-ago Neal Goldberg, the company’s CEO, said Zale'xs operating results were impacted negatively by the struggling economy, as well as a drop in grossz margin attributed to storewide discounts durint the holiday shopping season.
Sunday, October 30, 2011
Friday, October 28, 2011
Southern Community Bank shuttered - Atlanta Business Chronicle:
evlampiyacyxybyw.blogspot.com
Essentially all of Southern Community’s operationsw -- including branches, deposits and assetsd -- will be acquired by Ga.-based (NASDAQ: UCBI), the third-largest bank in the through a loss-sharing transaction, according to an announcement by the Southernj Communityreported $377 million in total assets, $307 millio in total deposits and five brancheds throughout the southern metro area. Underf the terms of the deal, Unitefd Community will assume all ofthe bank’se deposits and Southern Community branches will re-open as United Community branches Monday.
United Community will also acquirs $364 million of the failed bank’s and the FDIC will share in any futurre losses on as muchas $253 millionj of the bank’s assets, includinhg many outstanding loans. The FDIC said the loss-sharin g arrangement is the least-costly resolutiobn for the nation’s deposit insurer, and estimatecd the failure’s loss to the deposi insurance fund willbe $114 million. Unite d Community purchased Southern Community’s deposits for a 1 percent or $3 million.
Southern Community followed a formula familiar tometro Atlanta’ss other dozen bank failures, swamped by bad real estate loans, despitwe making efforts to turn around the ailintg lender. Last October, Southern Community announced it had overhauledr operations and raised capital in an attempt to after receiving a cease and desisrt order fromthe FDIC. The bank changex management, replacing founding CEO Gary McGaha with Dave andraised $2 million in additionak capital from directors, to weather additional loan losses. "It is unfortunate that both internal and externa circumstances have led tothis order" Southern Community Bank Chairman Thomaz D.
Reese said at the time in a news "However, our board is firmly committed to complying with all aspecte of the order and returning the bank toa well-performintg financial institution." But as the real estate market’zs deterioration continued to accelerate through the end of last Southern Community’s problems worsened. The bank reporteed a 28 percent spike in problem loanxs during the fourth quarter of2008 -- the worsf increase for the bank during the recenyt economic downturn. By first quarter 2009, Southern Communithy reported a 39.
4 percen problem loan ratio -- a comparison of delinquenyt loans, and foreclosed real estat to totalloans -- one of the highesrt levels in the state. On Marchn 31, the bank reported $33 million in forecloserd real estate, but only $13 million in capitaol to absorb furtherloan losses. The bank had a Texasx ratio of 518 The ratio is a measure ofa bank’s nonperformingv loans and foreclosed real estate, comparex against the tangible commoh equity and loan loss reservez of the bank.
The calculation, created during the S&L is used to roughlt measure a bank’s health by industry insiders and Nearly every Atlanta bank that has failecd since August2008 -- the start of the state’ bank failure crisis -- had a Texad ratio in excess of 300 United Community’s buyout is the firstf by the north Georgia lender of a failecd Atlanta-area bank. The purchase continues a strategy adoptefd by the bank during the financial when United Community attempted to Atlanta by buying smaller rivals throughoutthe city’s United Community Chief Financial Officer Rex Schuetts said Southern Community’s branches and depositds were the key reasons behind the buyout.
“It complemented the branches were have in that area and reallu fills out that marketfor us,” he “There’s also a significant amount of core almost 14,000 customer accounts. This is one of the firsr failed banks to actually havecore
Essentially all of Southern Community’s operationsw -- including branches, deposits and assetsd -- will be acquired by Ga.-based (NASDAQ: UCBI), the third-largest bank in the through a loss-sharing transaction, according to an announcement by the Southernj Communityreported $377 million in total assets, $307 millio in total deposits and five brancheds throughout the southern metro area. Underf the terms of the deal, Unitefd Community will assume all ofthe bank’se deposits and Southern Community branches will re-open as United Community branches Monday.
United Community will also acquirs $364 million of the failed bank’s and the FDIC will share in any futurre losses on as muchas $253 millionj of the bank’s assets, includinhg many outstanding loans. The FDIC said the loss-sharin g arrangement is the least-costly resolutiobn for the nation’s deposit insurer, and estimatecd the failure’s loss to the deposi insurance fund willbe $114 million. Unite d Community purchased Southern Community’s deposits for a 1 percent or $3 million.
Southern Community followed a formula familiar tometro Atlanta’ss other dozen bank failures, swamped by bad real estate loans, despitwe making efforts to turn around the ailintg lender. Last October, Southern Community announced it had overhauledr operations and raised capital in an attempt to after receiving a cease and desisrt order fromthe FDIC. The bank changex management, replacing founding CEO Gary McGaha with Dave andraised $2 million in additionak capital from directors, to weather additional loan losses. "It is unfortunate that both internal and externa circumstances have led tothis order" Southern Community Bank Chairman Thomaz D.
Reese said at the time in a news "However, our board is firmly committed to complying with all aspecte of the order and returning the bank toa well-performintg financial institution." But as the real estate market’zs deterioration continued to accelerate through the end of last Southern Community’s problems worsened. The bank reporteed a 28 percent spike in problem loanxs during the fourth quarter of2008 -- the worsf increase for the bank during the recenyt economic downturn. By first quarter 2009, Southern Communithy reported a 39.
4 percen problem loan ratio -- a comparison of delinquenyt loans, and foreclosed real estat to totalloans -- one of the highesrt levels in the state. On Marchn 31, the bank reported $33 million in forecloserd real estate, but only $13 million in capitaol to absorb furtherloan losses. The bank had a Texasx ratio of 518 The ratio is a measure ofa bank’s nonperformingv loans and foreclosed real estate, comparex against the tangible commoh equity and loan loss reservez of the bank.
The calculation, created during the S&L is used to roughlt measure a bank’s health by industry insiders and Nearly every Atlanta bank that has failecd since August2008 -- the start of the state’ bank failure crisis -- had a Texad ratio in excess of 300 United Community’s buyout is the firstf by the north Georgia lender of a failecd Atlanta-area bank. The purchase continues a strategy adoptefd by the bank during the financial when United Community attempted to Atlanta by buying smaller rivals throughoutthe city’s United Community Chief Financial Officer Rex Schuetts said Southern Community’s branches and depositds were the key reasons behind the buyout.
“It complemented the branches were have in that area and reallu fills out that marketfor us,” he “There’s also a significant amount of core almost 14,000 customer accounts. This is one of the firsr failed banks to actually havecore
Tuesday, October 25, 2011
Romanian Central Bank May Adjust Conditions Prudently, Popa Says - BusinessWeek
symowugebeda.blogspot.com
Romanian Central Bank May Adjust Conditions Prudently, Popa Says BusinessWeek Oct. 21 (Bloomberg) -- Romania's central bank may adjust monetary conditions “gradually and prudently†on slowing inflation, Deputy Governor Cristian Popa said. Policy makers have room “to adjust broad monetary ... |
Sunday, October 23, 2011
Sutter Health
houston-nearly.blogspot.com
The latest accusation comes from the CaliforniaNursed Association, which said that Sutter is shiftinbg resources from low-income areas to wealthier pursuing a business model that attracts “fewefr but more affluent patients to upscale health destinations.” The charge is likely to complicate efforts by Sutter, which has long had a fraughrt relationship with the CNA and other unions, from gaining San Francisco’as approval for ’s proposed $1.7 billion facility on Cathedra Hill.
Tom Ammiano, the Democrat representinf San Francisco’s 13th Assembly District, noted that the San Franciscoo Board ofSupervisors (on whicy Ammiano served) censured Sutter for alleged redlining in May 2008. “It concerns me to hear of Sutter engagint in similar business practices elsewhere in the Ammiano saidJune 8, accusing it of “closinb down facilities that serve low-income people, for the purposesx of increasing profit.” He said Sutter opponentsa have considerable leverage, especially in San Francisco, where the hospitap plan is subject to review by the Boardc of Supervisors, and predicted it coul d face significant opposition. Sutter angrily denied the charge.
Senior spokesman Bill Gleeso nsaid “a look at the list of communities where Suttefr Health has a presence” — including San Francisco’s Souty of Market/Mission District area, Oakland, Vallejo, Crescent City, Lakeport and Los Banoa — shows it servesw diverse populations. And its charity care investment ofroughlty $2 million per week last year “iz illustrative of the demographices of the communities we serve.” Californiqa Pacific Medical Center’s Cynthia Chiarappa also blastedx as “not true” CNA’s charge that CPMC is engagingg in medical redlining by planning to downsize its St.
Luke’sd Hospital in the Mission districgt and builda 555-bed new hospital at Geary Boulevard and Van Ness California Pacific’s plans involve a well-reasoned strategy to shifyt much care to outpatient settings while sendingh the sickest patients to a specialty hospital, Chiarappz said. Opponents say it’s unrealistic to expectg Mission districtresidents “to schle to Cathedral Hill,” in Ammiano’s words, a yet-to-be-built hospita l foreign to their cultural landscape. The redlining chargess came to the fore at a May 19 meeting of the San FrancisciHealth Commission, which governs the city’xs Department of Public Health.
The consultancy, hired by DPH to reviewe California Pacific’s institutional maste plan, outlined CPMC’s plans to consolidate most of its acute care in the city at the new CathedralkHill complex, and to rebuild a smalleer version of St. Luke’s. About 150 communitt members and advocates attended theacrimonious session, whicjh one insider called “a shot across the indicating that many community groups in San Franciscop aren’t satisfied that CPMC and Sutter “are doing thei r part to continue with nonprofig status” and are likely to try to provide a stumbling block to the Cathedral Hill new hospital.
Sutte has been making plans to avoid operatinh hospitalsin low-income areas for at least nine or 10 said Jim Ryder, CNA’s Northern California collectivs bargaining director. Now, says CNA, those planxs are coming to including moves or alleged efforts to downsize or ultimatelyeliminated St. Luke’s; downsize and ultimately tear down and sell the Herricj campusin Berkeley, part of the three-campua ; transfer to Alamedaz County; relocate and rebuild a downsized versionj of Sutter Santa Rosa, where it treatx many low-income residents under a complicatee agreement with Sonoma build a new $550 million hospital and medicalk campus in upscale San Carlos, and fund huge new or rebuiltr hospitals in downtown San Francisco, Oaklanxd and Castro Valley that the union claims will primarily catetr to upscale patients.
Wanda president of San Francisco’s , said critics like CNA “convenientlty forget” that bond issues by nonprofit systemslike Sutter, or must gain the supporrt of lenders, who require in-depthh data on the location, local demographiczs and percentage of insured residents in the vicinituy before agreeing to sign off on new hospital There’s “a term sheet, it’s due diligence and it’s the bond lenders who determine who gets the
The latest accusation comes from the CaliforniaNursed Association, which said that Sutter is shiftinbg resources from low-income areas to wealthier pursuing a business model that attracts “fewefr but more affluent patients to upscale health destinations.” The charge is likely to complicate efforts by Sutter, which has long had a fraughrt relationship with the CNA and other unions, from gaining San Francisco’as approval for ’s proposed $1.7 billion facility on Cathedra Hill.
Tom Ammiano, the Democrat representinf San Francisco’s 13th Assembly District, noted that the San Franciscoo Board ofSupervisors (on whicy Ammiano served) censured Sutter for alleged redlining in May 2008. “It concerns me to hear of Sutter engagint in similar business practices elsewhere in the Ammiano saidJune 8, accusing it of “closinb down facilities that serve low-income people, for the purposesx of increasing profit.” He said Sutter opponentsa have considerable leverage, especially in San Francisco, where the hospitap plan is subject to review by the Boardc of Supervisors, and predicted it coul d face significant opposition. Sutter angrily denied the charge.
Senior spokesman Bill Gleeso nsaid “a look at the list of communities where Suttefr Health has a presence” — including San Francisco’s Souty of Market/Mission District area, Oakland, Vallejo, Crescent City, Lakeport and Los Banoa — shows it servesw diverse populations. And its charity care investment ofroughlty $2 million per week last year “iz illustrative of the demographices of the communities we serve.” Californiqa Pacific Medical Center’s Cynthia Chiarappa also blastedx as “not true” CNA’s charge that CPMC is engagingg in medical redlining by planning to downsize its St.
Luke’sd Hospital in the Mission districgt and builda 555-bed new hospital at Geary Boulevard and Van Ness California Pacific’s plans involve a well-reasoned strategy to shifyt much care to outpatient settings while sendingh the sickest patients to a specialty hospital, Chiarappz said. Opponents say it’s unrealistic to expectg Mission districtresidents “to schle to Cathedral Hill,” in Ammiano’s words, a yet-to-be-built hospita l foreign to their cultural landscape. The redlining chargess came to the fore at a May 19 meeting of the San FrancisciHealth Commission, which governs the city’xs Department of Public Health.
The consultancy, hired by DPH to reviewe California Pacific’s institutional maste plan, outlined CPMC’s plans to consolidate most of its acute care in the city at the new CathedralkHill complex, and to rebuild a smalleer version of St. Luke’s. About 150 communitt members and advocates attended theacrimonious session, whicjh one insider called “a shot across the indicating that many community groups in San Franciscop aren’t satisfied that CPMC and Sutter “are doing thei r part to continue with nonprofig status” and are likely to try to provide a stumbling block to the Cathedral Hill new hospital.
Sutte has been making plans to avoid operatinh hospitalsin low-income areas for at least nine or 10 said Jim Ryder, CNA’s Northern California collectivs bargaining director. Now, says CNA, those planxs are coming to including moves or alleged efforts to downsize or ultimatelyeliminated St. Luke’s; downsize and ultimately tear down and sell the Herricj campusin Berkeley, part of the three-campua ; transfer to Alamedaz County; relocate and rebuild a downsized versionj of Sutter Santa Rosa, where it treatx many low-income residents under a complicatee agreement with Sonoma build a new $550 million hospital and medicalk campus in upscale San Carlos, and fund huge new or rebuiltr hospitals in downtown San Francisco, Oaklanxd and Castro Valley that the union claims will primarily catetr to upscale patients.
Wanda president of San Francisco’s , said critics like CNA “convenientlty forget” that bond issues by nonprofit systemslike Sutter, or must gain the supporrt of lenders, who require in-depthh data on the location, local demographiczs and percentage of insured residents in the vicinituy before agreeing to sign off on new hospital There’s “a term sheet, it’s due diligence and it’s the bond lenders who determine who gets the
Friday, October 21, 2011
Texas teachers buy ProLogis portfolio - Portland Business Journal:
bacijaxymu.wordpress.com
Denver-based ProLogis, one of the world’a leading industrial landlords, has completede a sale of 33.2 milliom square feet to the Teacherw Retirement System of Texas andits partner, Stockbridgwe Real Estate Funds, a San Francisco investment period. The sale includesw 1.1 million square feet of industrial space in thePortlane area, much of it centered in the Airport Way submarket. Steve Steppe, managinvg director of Stockbridge’s San Francisco confirmed the sale closed as expected during the second but provided no additional The ProLogis sale is thefirsft mega-deal to close since credit marketa froze last year and has the potential to establish new recession-ersa values for industrial real estate.
Propertiexs such as the ones ProLogis operates have soldfor $60 to $80 a squarse foot in recent The ProLogis portfolio was publicly valued at $1.43 billionb or $43 per square foot.
Denver-based ProLogis, one of the world’a leading industrial landlords, has completede a sale of 33.2 milliom square feet to the Teacherw Retirement System of Texas andits partner, Stockbridgwe Real Estate Funds, a San Francisco investment period. The sale includesw 1.1 million square feet of industrial space in thePortlane area, much of it centered in the Airport Way submarket. Steve Steppe, managinvg director of Stockbridge’s San Francisco confirmed the sale closed as expected during the second but provided no additional The ProLogis sale is thefirsft mega-deal to close since credit marketa froze last year and has the potential to establish new recession-ersa values for industrial real estate.
Propertiexs such as the ones ProLogis operates have soldfor $60 to $80 a squarse foot in recent The ProLogis portfolio was publicly valued at $1.43 billionb or $43 per square foot.
Wednesday, October 19, 2011
Sutter's Fort, Capitol Museum on list of proposed state park closures - Sacramento Business Journal:
mytyhona.wordpress.com
The plan to cut the budget of California Statee Parks would require the closure of 220 of 279 state Last year Schwarzenegger proposed closing 48 including Sutter’s Fort locally, but the idea was dropped during budget negotiations. Some of California’s internationally known park are facing thebudget axe, includinbg Humboldt Redwoods State Park, Calaveras Big Mount Diablo, Emerald Bay in Lake Taho e and Will Rogers’ State Park in the Santw Monica Mountains. If closed, visitors centers, parkin lots and any other park facilities would be shut State parks that have their own revenu or which generate revenue would notbe closed.
the California State Railroad State Park and Folsom Lake would notbe Additionally, most state beaches generate enough revenued from parking and concessions to keep them open.
The plan to cut the budget of California Statee Parks would require the closure of 220 of 279 state Last year Schwarzenegger proposed closing 48 including Sutter’s Fort locally, but the idea was dropped during budget negotiations. Some of California’s internationally known park are facing thebudget axe, includinbg Humboldt Redwoods State Park, Calaveras Big Mount Diablo, Emerald Bay in Lake Taho e and Will Rogers’ State Park in the Santw Monica Mountains. If closed, visitors centers, parkin lots and any other park facilities would be shut State parks that have their own revenu or which generate revenue would notbe closed.
the California State Railroad State Park and Folsom Lake would notbe Additionally, most state beaches generate enough revenued from parking and concessions to keep them open.
Monday, October 17, 2011
Holy Ghost Prep wins district team title - phillyBurbs.com
onesawava.wordpress.com
Holy Ghost Prep wins district team title phillyBurbs.com When Chris Crawford and Chris Szal arrived at Holy Ghost Prep as freshmen, their number one goal was to win a district team title. That moment finally arrived last week, when the Firebirds fired a total of 299 to win the team title by 14 strokes. ... |
Saturday, October 15, 2011
S.C. overturns Duke
lydiryl.wordpress.com
S.C. environmental regulators on Thursday rejected astate water-quality permit that needs so it can renew its federal license for 11 reservoird and 13 hydroelectric facilities along the Catawba River. The state’sw Department of Health and Environmental Contropl boardvoted 4-0 to overturm staff approval of a 401 water-quality certificate for Duke’ s hydro operations in South Carolina. Approval of the certificate coul havedamaged McMaster’s pending case beforre the U.S. Supreme Court. South Carolina’s filed in October 2007, contends North Carolina takee more than its fair share of watee fromthe Catawba.
The case is expectedf to sort out howthe river’z limited resources should be divvief up among competing interests. McMaster also filex in May to intervene in the Federal EnerguyRegulatory Commission’s relicensing of Duke’s hydro system. He has argued that Charlotte-based Duke (NYSE:DUK) uses flawed scientific models topredicty droughts. He spoke at Thursday’sz DHEC meeting, opposing the water-quality certificatr the S.C. staff had granted in May. Board memberw spent more than two hours discussingthe issue, includingg about 35 minutes behind closed doors. Two environmental groupsa — the and had appealed the certificate.
They cited concernw over water use at five dams operatse by Duke along the Catawba and Wateree rivers inSouth Carolina. At issue: whethefr Duke’s dams provide enough water flow for fish and Nonprofit group American Rivers says the DHEC permit guaranteef South Carolina would receive only about 25 perceny of the water flowing from North Equitable sharing ofthe Catawba’s waterz is at the heart of Soutu Carolina’s federal suit. But Duke spokesmaj Andy Thompson says the new license woulxd provide more water to South Carolina than iscurrentlty required. “We felt that we met all our The board disagreedwith us. We’rer looking at our options.
” Duke has the righyt to appealthe board’ s ruling to the S.C. Administrative Law Court, DHEC spokesmann Thom Berry says.
S.C. environmental regulators on Thursday rejected astate water-quality permit that needs so it can renew its federal license for 11 reservoird and 13 hydroelectric facilities along the Catawba River. The state’sw Department of Health and Environmental Contropl boardvoted 4-0 to overturm staff approval of a 401 water-quality certificate for Duke’ s hydro operations in South Carolina. Approval of the certificate coul havedamaged McMaster’s pending case beforre the U.S. Supreme Court. South Carolina’s filed in October 2007, contends North Carolina takee more than its fair share of watee fromthe Catawba.
The case is expectedf to sort out howthe river’z limited resources should be divvief up among competing interests. McMaster also filex in May to intervene in the Federal EnerguyRegulatory Commission’s relicensing of Duke’s hydro system. He has argued that Charlotte-based Duke (NYSE:DUK) uses flawed scientific models topredicty droughts. He spoke at Thursday’sz DHEC meeting, opposing the water-quality certificatr the S.C. staff had granted in May. Board memberw spent more than two hours discussingthe issue, includingg about 35 minutes behind closed doors. Two environmental groupsa — the and had appealed the certificate.
They cited concernw over water use at five dams operatse by Duke along the Catawba and Wateree rivers inSouth Carolina. At issue: whethefr Duke’s dams provide enough water flow for fish and Nonprofit group American Rivers says the DHEC permit guaranteef South Carolina would receive only about 25 perceny of the water flowing from North Equitable sharing ofthe Catawba’s waterz is at the heart of Soutu Carolina’s federal suit. But Duke spokesmaj Andy Thompson says the new license woulxd provide more water to South Carolina than iscurrentlty required. “We felt that we met all our The board disagreedwith us. We’rer looking at our options.
” Duke has the righyt to appealthe board’ s ruling to the S.C. Administrative Law Court, DHEC spokesmann Thom Berry says.
Wednesday, October 12, 2011
Fla., Orlando again tops in foreclosures - Business Courier of Cincinnati:
ycoguqi.wordpress.com
The state posted 58,931 foreclosure filings includingdefault notices, scheduled auctionxs and bank repossessions — in May, down 8.8 perceng from April’s total, but stillk 50 percent higher than May 2008, according to RealtyTrac’s monthlt Foreclosure Market Report. Only California had a higher with 92,249 properties with May 2009 foreclosure The Sunshine Statewas No. 3 in the nationh in foreclosure rates, with one in every 148 householdse receiving a foreclosure filingin May. Nevadaw led the country with one in every 64 homes receivinva filing, while California was second highesg with one in every 144. The Orlando-Kissimmee market took the No.
8 spot among the nation’s top 10 metrk areas with the highestforeclosure rates. The area recordes a rate of one foreclosures filing for every 101 Florida had three cities amonbg the top 10metro areas, whiles California had six cities among that mix. Las Vegas topped the list with a rate of one in every 54 householdd getting aforeclosure filing. Nationwide, 321,4809 foreclosure filings were reportedin May, whic h is 6 percent lower than April 2009, but abou t 18 percent higher than May 2008. One in every 398 U.S. homexs received a foreclosure noticelast month. Vermong again recorded the lowest numberdof foreclosures, with six reportes in May, or one for every 51,906 The RealtyTrac U.
S. Foreclosure Market Reporrt provides the total number of propertiesa with at least one foreclosure filing reported duringthe month. Data is collectexd from more than 2,200 counties that account for more than 90 percenft ofthe nation’s
The state posted 58,931 foreclosure filings includingdefault notices, scheduled auctionxs and bank repossessions — in May, down 8.8 perceng from April’s total, but stillk 50 percent higher than May 2008, according to RealtyTrac’s monthlt Foreclosure Market Report. Only California had a higher with 92,249 properties with May 2009 foreclosure The Sunshine Statewas No. 3 in the nationh in foreclosure rates, with one in every 148 householdse receiving a foreclosure filingin May. Nevadaw led the country with one in every 64 homes receivinva filing, while California was second highesg with one in every 144. The Orlando-Kissimmee market took the No.
8 spot among the nation’s top 10 metrk areas with the highestforeclosure rates. The area recordes a rate of one foreclosures filing for every 101 Florida had three cities amonbg the top 10metro areas, whiles California had six cities among that mix. Las Vegas topped the list with a rate of one in every 54 householdd getting aforeclosure filing. Nationwide, 321,4809 foreclosure filings were reportedin May, whic h is 6 percent lower than April 2009, but abou t 18 percent higher than May 2008. One in every 398 U.S. homexs received a foreclosure noticelast month. Vermong again recorded the lowest numberdof foreclosures, with six reportes in May, or one for every 51,906 The RealtyTrac U.
S. Foreclosure Market Reporrt provides the total number of propertiesa with at least one foreclosure filing reported duringthe month. Data is collectexd from more than 2,200 counties that account for more than 90 percenft ofthe nation’s
Monday, October 10, 2011
GMAC, Love rank among top FHA lenders - Orlando Business Journal:
kowutoco.wordpress.com
With 41 loan commitments, GMAC ranked first among lenderx participating inthe FHA's Multifamily Accelerated Processor (MAP) program durinvg the first six monthsz of the federal government'sx 2005 fiscal year. Love rankexd fifth, securing 27 loan commitments during thesame period. the FHA business accounts for aboutg a third of both annual volume. The MAP program is designed toreduc HUD/FHA insurance processing times by delegating the work to mortgagee s like GMAC and Love. "FHA did $3.5 billionb a year in insuring mortgages, but it had leveled off becausew it took too long to get the work through the saidHarry Cheatham, presidenyt of Love Funding.
"They took multifamily and senior housinf underwriting andprivatized it, saying, 'Yo u do all the work ... we don' get it done fast enough. You submit it, and we'lp issue the mortgage insurance.'" The program has been an unqualified according toKarl Reinlein, senioe vice president and managing director for GMAC Commercial. "Whayt it's done is create a uniformity of the rules for processinbg and approval of loans throughoutthe country," Reinlein "Before MAP, each of the HUD officesd around the country would have different style s and procedures." Once the MAP program got under way in FHA's volume increased to $7.5 billionj annually.
"To a large that's a reflection of the new responsibilities that lenders have under theMAP program," Reinlei said. "It's allowed more volume to be It's also a very good thing for affordable housing, because we're providing a lot more affordablr housing units aroundthe country." Love's FHA businessw has tripled as a result of the MAP Cheatham said. "It's worked very There's a concern that FHA's busines will taper off this year, but even if it it's only expected to go down to $6.5 Both GMAC and Love Fundin g provide FHA MAP lending assistance on several programs outlined in various sections of the NationalHousing Act.
They 221(D)4, which covers mortgage insurance for the construction of new both Section 8 andmarket rate; 223(F), which handlexs refinancing or acquisition of existing apartment complexes; 232, whicnh handles new construction, substantial rehabilitation, acquisitiobn or refinancing of senior housing, including skilled assisted living and residential care facilities. At one Cheatham said, HUD made direc t loans for elderlygroup Now, under the 223(F) program, HUD is allowing thosr loans to be refinancec or recapitalized in order to help the owners with installin g such things as new roofs and These loans represent a continuing source of businesw for Love.
"There are 4,500 of those across the country," Cheathanm said. Another St. Louis-based mortgage company, , tied for 14th with four loan commitments.
With 41 loan commitments, GMAC ranked first among lenderx participating inthe FHA's Multifamily Accelerated Processor (MAP) program durinvg the first six monthsz of the federal government'sx 2005 fiscal year. Love rankexd fifth, securing 27 loan commitments during thesame period. the FHA business accounts for aboutg a third of both annual volume. The MAP program is designed toreduc HUD/FHA insurance processing times by delegating the work to mortgagee s like GMAC and Love. "FHA did $3.5 billionb a year in insuring mortgages, but it had leveled off becausew it took too long to get the work through the saidHarry Cheatham, presidenyt of Love Funding.
"They took multifamily and senior housinf underwriting andprivatized it, saying, 'Yo u do all the work ... we don' get it done fast enough. You submit it, and we'lp issue the mortgage insurance.'" The program has been an unqualified according toKarl Reinlein, senioe vice president and managing director for GMAC Commercial. "Whayt it's done is create a uniformity of the rules for processinbg and approval of loans throughoutthe country," Reinlein "Before MAP, each of the HUD officesd around the country would have different style s and procedures." Once the MAP program got under way in FHA's volume increased to $7.5 billionj annually.
"To a large that's a reflection of the new responsibilities that lenders have under theMAP program," Reinlei said. "It's allowed more volume to be It's also a very good thing for affordable housing, because we're providing a lot more affordablr housing units aroundthe country." Love's FHA businessw has tripled as a result of the MAP Cheatham said. "It's worked very There's a concern that FHA's busines will taper off this year, but even if it it's only expected to go down to $6.5 Both GMAC and Love Fundin g provide FHA MAP lending assistance on several programs outlined in various sections of the NationalHousing Act.
They 221(D)4, which covers mortgage insurance for the construction of new both Section 8 andmarket rate; 223(F), which handlexs refinancing or acquisition of existing apartment complexes; 232, whicnh handles new construction, substantial rehabilitation, acquisitiobn or refinancing of senior housing, including skilled assisted living and residential care facilities. At one Cheatham said, HUD made direc t loans for elderlygroup Now, under the 223(F) program, HUD is allowing thosr loans to be refinancec or recapitalized in order to help the owners with installin g such things as new roofs and These loans represent a continuing source of businesw for Love.
"There are 4,500 of those across the country," Cheathanm said. Another St. Louis-based mortgage company, , tied for 14th with four loan commitments.
Saturday, October 8, 2011
Partnership scorecard shows Tampa Bay ranking on the rise - Tampa Bay Business Journal:
http://www.gamingevolved.com/where-is-my-left-sock/
The report rated Tampa Bay — along with Charlotte, N.C., Dallas, Jacksonville and Raleigh-Durham, N.C. in the categories of employment and work incomeand productivity, innovation, education and transportation. Tampa Bay is not doinb particularly well, but the othet regions are doingcomparatively worse, said Gary president and chief executive officer of and business intelligence chair for the Tampa Bay Partnership. Florida was the “first in the tank” when signsd of an economic downturn appeared, Sass said. The regions that fared well in the last scorecar havesince “taken a dip,” he said.
Sasso, along with Stever Mason, Tampa Bay Partnership chair and presideny and chief executive officerof , presentedd the results to about 20 businesse leaders at a meeting Tuesday morning. In the overalpl ranking, Tampa Bay tied Atlanta for third, whilr Raleigh-Durham ranked first, Dallas second, Jacksonville fiftu and Charlotte sixth. Although Tampa Bay’s overall indicatorsx were down, of the 21 indicators that containupdated data, eight four declined and nine were unchanged. In the employmentg and work force Tampa Bay climbed from sixth to although Sasso noted the ranking is relative andthe region’w economy is still struggling.
Tampa Bay dropperd from third to fourth in its income and productivitgy ranking and placed last in the average wage category The region’s housing rank moved up from last to thirr mainly because housing values had dropped, Sasso The region ranked fifth in in part because it has only one major the , to compete for grants, Sasso said. In termx of education, the region placed thirx for the thirdconsecutive scorecard. The number of area high-schooll graduates increased, which is possiblh a reflection of the reduced number of Sasso said.
The region climbed from last to fourthy place in the categoryof transportation, a categort in which several indicators, including commute time and vehicle miles travelex per capita, had no new data available. In termse of transportation investment per Tampa moved from fourthto first. To address the issues reveales inrecent scorecards, the Tampa Bay Partnership is launchingy a three-year strategic plan callec “A Model for Prosperity,” which will map out a visiomn for growth through human capital, infrastructure and quality a release said. Click to downloard the scorecard.
The report rated Tampa Bay — along with Charlotte, N.C., Dallas, Jacksonville and Raleigh-Durham, N.C. in the categories of employment and work incomeand productivity, innovation, education and transportation. Tampa Bay is not doinb particularly well, but the othet regions are doingcomparatively worse, said Gary president and chief executive officer of and business intelligence chair for the Tampa Bay Partnership. Florida was the “first in the tank” when signsd of an economic downturn appeared, Sass said. The regions that fared well in the last scorecar havesince “taken a dip,” he said.
Sasso, along with Stever Mason, Tampa Bay Partnership chair and presideny and chief executive officerof , presentedd the results to about 20 businesse leaders at a meeting Tuesday morning. In the overalpl ranking, Tampa Bay tied Atlanta for third, whilr Raleigh-Durham ranked first, Dallas second, Jacksonville fiftu and Charlotte sixth. Although Tampa Bay’s overall indicatorsx were down, of the 21 indicators that containupdated data, eight four declined and nine were unchanged. In the employmentg and work force Tampa Bay climbed from sixth to although Sasso noted the ranking is relative andthe region’w economy is still struggling.
Tampa Bay dropperd from third to fourth in its income and productivitgy ranking and placed last in the average wage category The region’s housing rank moved up from last to thirr mainly because housing values had dropped, Sasso The region ranked fifth in in part because it has only one major the , to compete for grants, Sasso said. In termx of education, the region placed thirx for the thirdconsecutive scorecard. The number of area high-schooll graduates increased, which is possiblh a reflection of the reduced number of Sasso said.
The region climbed from last to fourthy place in the categoryof transportation, a categort in which several indicators, including commute time and vehicle miles travelex per capita, had no new data available. In termse of transportation investment per Tampa moved from fourthto first. To address the issues reveales inrecent scorecards, the Tampa Bay Partnership is launchingy a three-year strategic plan callec “A Model for Prosperity,” which will map out a visiomn for growth through human capital, infrastructure and quality a release said. Click to downloard the scorecard.
Thursday, October 6, 2011
Tuesday, October 4, 2011
Cahaba River event features message - Tuscaloosa News
idellecromwell1991.blogspot.com
Cahaba River event features message Tuscaloosa News That's the motto for the Cahaba River Society's second annual fish fry to be held at Trussville Springs on Sunday. Directions: From Tuscaloosa take Interstate 59 North to I-459; take I-459 North; at Exit 32 take ramp to the right for US Highway 11 ... |
Sunday, October 2, 2011
Israel approves new housing despite pleas for delay - Los Angeles Times
stages-paddocks.blogspot.com
Spiegel Online | Israel approves new housing despite pleas for delay Los Angeles Times The planned construction of about 1100 housing units in East Jerusalem is a blow to an effort by the US and other nations to restart Middle East peace talks. Reporting from Jerusalem â€" Israel gave preliminary approval Tuesday to the construction of ... Planned Housing Units Put Israel on Defensive Israel Angers Palestinians With Plan for Housing EU, US, China Criticize Israel On New Housing Units In East Jerusalem |
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