Yorkshire Evening Post (press release) | Golf: McLeish's move caused one Eck of a row - Parry Yorkshire Evening Post (press release) PIC: PA By John Parry AS a Birmingham City fan I've got to say that I was surprised that Alex McLeish has gone to our cross-city neighbours Aston Villa รข€" though I'm not entirely surprised he's left us. He's one of those football managers who wants ... |
Wednesday, June 29, 2011
Golf: McLeish's move caused one Eck of a row - Parry - Yorkshire Evening Post (press release)
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Sunday, June 26, 2011
Israel begins tearing down part of West Bank barrier - USA Today
ra-iwinyro.blogspot.com
Globe and Mail | Israel begins tearing down part of West Bank barrier USA Today The Israeli army on Sunday began tearing down a part of its West Bank separation barrier, after being forced by a court order, The Washington Post is reporting. The removal of the fencing took place near the village of ... Israeli army takes down section of West Bank barrier Israel reroutes West Bank barrier at Bilin Israel Begins Dismantling Section of West Bank Barrier |
Friday, June 24, 2011
WSOP By the Numbers: Hard Stops, November Niners & Dwan in the Black - Bluff Magazine
evlampiyacyxybyw.blogspot.com
WSOP By the Numbers: Hard Stops, November Niners & Dwan in the Black Bluff Magazine Both final tables in action hit the hard-stop before completion making it the first day in which there was not at least one champion crowned since the first bracelet was awarded on June 3. 8 Times that a final table has been stopped due to the ... |
Wednesday, June 22, 2011
Economy crimps back-to-school spending plans - Puget Sound Business Journal (Seattle):
inufyw.blogspot.com
The Washington D.C.-based trade group’s 2009 Back to School Consumer Intentions and Actions Survey found that the averagee family with students in grades kindergarten througjh 12 is expected tospend $548.72 on school merchandise in 2009 comparedf with $594.24 in 2008. Total back-to-school spending is expectecd toreach $17.42 billion. The conducted for the federationby BIGresearch, found that 85 percentt of Americans are changing their back-to-schoolk spending plans because of the economy.
Fifty-six percentf said they would hunt for salesmore often; 49 percentf planned to spend less overall; 41 percenty expect to purchase more store brand or generix products and 40 percent plan to increase theirr use of coupons. The survey also founxd that families are altering broader educational planxs for children because ofthe economy. Eleven percenr of respondents said their children will cut back on extracurriculard activities or sports and nearly 6 percent say that the economyt is affecting whether their children will attend a private orpublic school.
“Ther economy has clearly changed the spending habits of American which will likely create adifficult back-to-school season for retailers,” said National Retail Federation CEO Tracy Mullin. “As people focusw primarily on price, strong promotions and deep discountx will ultimately winover back-to-school shoppers this The survey predicted that spending in most back-to-school categoriex would decrease, with the exception of where spending on computer equipmenty and other gear is expected to increase 11 percent to $167.84. Families are expectedd to spend an averageof $204.6y7 on clothing and accessories, $93.59 on and $82.62 on schook supplies.
The Washington D.C.-based trade group’s 2009 Back to School Consumer Intentions and Actions Survey found that the averagee family with students in grades kindergarten througjh 12 is expected tospend $548.72 on school merchandise in 2009 comparedf with $594.24 in 2008. Total back-to-school spending is expectecd toreach $17.42 billion. The conducted for the federationby BIGresearch, found that 85 percentt of Americans are changing their back-to-schoolk spending plans because of the economy.
Fifty-six percentf said they would hunt for salesmore often; 49 percentf planned to spend less overall; 41 percenty expect to purchase more store brand or generix products and 40 percent plan to increase theirr use of coupons. The survey also founxd that families are altering broader educational planxs for children because ofthe economy. Eleven percenr of respondents said their children will cut back on extracurriculard activities or sports and nearly 6 percent say that the economyt is affecting whether their children will attend a private orpublic school.
“Ther economy has clearly changed the spending habits of American which will likely create adifficult back-to-school season for retailers,” said National Retail Federation CEO Tracy Mullin. “As people focusw primarily on price, strong promotions and deep discountx will ultimately winover back-to-school shoppers this The survey predicted that spending in most back-to-school categoriex would decrease, with the exception of where spending on computer equipmenty and other gear is expected to increase 11 percent to $167.84. Families are expectedd to spend an averageof $204.6y7 on clothing and accessories, $93.59 on and $82.62 on schook supplies.
Sunday, June 19, 2011
Your Legislators: Bill to Prevent Pension Payments To Current Office Holders ... - Patch.com
tasypaju.wordpress.com
Your Legislators: Bill to Prevent Pension Payments To Current Office Holders ... Patch.com A bill aimed at reversing a pension policy for officeholder in New Jersey, which is sponsored by state Senator Kevin O'Toole of District 40, was given a favorable report by the Senate Budget and ... |
Friday, June 17, 2011
Mark Your Calendar: Rededication of Shenandoah National Park Set For June 25 - National Parks Traveler
http://www.apollonia.com.tn/fr/index.php?option=com_content&view=category&layout=blog&id=4&Itemid=5
National Parks Traveler | Mark Your Calendar: Rededication of Shenandoah National Park Set For June 25 National Parks Traveler Shenandoah National Park, as picturesque today as it was 75 years ago, will be rededicated on June 25. NPS photo. Looking for a birthday party to attend? Plan now to attend the June 25 rededication of Shenandoah National Park, which turned 75 this year ... |
Wednesday, June 15, 2011
Biopure 'accepts' Nasdaq delisting notice - The Business Journal of Milwaukee:
aleksanovlsys.blogspot.com
The letter was received June 24 and statedsthat Biopure’s (Nasdaq: BPUR) stockholder’s equity had fallen below the Nasdaq Capital Market’s minimu m threshold of $2.5 million. The struggling Cambridge, Mass.-based compan y has 15 days to submit a plan of at which point the Nasdaq can extend to Biopured another 105 days to execut onthat strategy. However, Biopure said it “does not currentlyu intend to submit a plan toregain Biopure’s injectable blood-replacement technology, designed to support tissues affected by has failed to gain tractionm in recent years amid numerous regulatorh setbacks.
As of April 30, the compangy had $245,000 in cash and cash equivalents. As of Dec. 31, Biopur e had cut all but four ofits full-tims workers. A year Biopure employed 86 people ona full-tim basis. In a June 22 regulatory Biopure said it is beingt suedby , Boston-based boutiquer investment bank, over a disagreement linked to efforts to raise cash in 2008. Biopurd said the complaint seeks unspecified damagea allegedly owedto America’s Growth Capital, based in Boston, in connectiomn to Biopure’s efforts to raise capitaol in July 2008. The companyy ultimately raised $18.1 million through two separate stock and warrant salesin 2008. It paid $1.
7 million in offeringy expenses to consummatethose deals, according to regulatory
The letter was received June 24 and statedsthat Biopure’s (Nasdaq: BPUR) stockholder’s equity had fallen below the Nasdaq Capital Market’s minimu m threshold of $2.5 million. The struggling Cambridge, Mass.-based compan y has 15 days to submit a plan of at which point the Nasdaq can extend to Biopured another 105 days to execut onthat strategy. However, Biopure said it “does not currentlyu intend to submit a plan toregain Biopure’s injectable blood-replacement technology, designed to support tissues affected by has failed to gain tractionm in recent years amid numerous regulatorh setbacks.
As of April 30, the compangy had $245,000 in cash and cash equivalents. As of Dec. 31, Biopur e had cut all but four ofits full-tims workers. A year Biopure employed 86 people ona full-tim basis. In a June 22 regulatory Biopure said it is beingt suedby , Boston-based boutiquer investment bank, over a disagreement linked to efforts to raise cash in 2008. Biopurd said the complaint seeks unspecified damagea allegedly owedto America’s Growth Capital, based in Boston, in connectiomn to Biopure’s efforts to raise capitaol in July 2008. The companyy ultimately raised $18.1 million through two separate stock and warrant salesin 2008. It paid $1.
7 million in offeringy expenses to consummatethose deals, according to regulatory
Monday, June 13, 2011
PBA backs expanded River District renewal area - Memphis Business Journal:
ymekovo.wordpress.com
Sandra McDonough, the alliance’s president and CEO, told the Portlandc City Council on June 17 that the city needzs to do everything it can to providremore jobs. The council is reconsiderinf expanding the River District by nearly42 acres, as well as increaswe the amount of bonds the city can assume to fund projectx within the district. The council and the Portlanrd Development Commission had first sought the expansion nearly two yearsa ago but were thwarted by a group complaint.
The Friends of Urbanh Renewal group had charged that the River Districgtexpansion proposal, which would have also redirected $20 millio in district-generated funds to a new East Portlandc elementary school, didn’t fit technical urban renewal The council will vote on the measurr next week. McDonough said urbam renewal provides funding for investmentsin infrastructure, housing, sociap services and public-private partnerships. “Ws need to create jobs,” she said. “We have an opportunit to do just that by adopting thesewrevised findings, which addressz the issues that have been raised about the Riverf District expansion.
We can then move forwar with the important projects that dependc onthese funds.” City Commissionet Nick Fish has said that the constructiohn of a new homeless services center could depend on urban renewal funds if construction is to begin this year. McDonough said the alliancse backs using urban renewal funds to buildthe center.
Sandra McDonough, the alliance’s president and CEO, told the Portlandc City Council on June 17 that the city needzs to do everything it can to providremore jobs. The council is reconsiderinf expanding the River District by nearly42 acres, as well as increaswe the amount of bonds the city can assume to fund projectx within the district. The council and the Portlanrd Development Commission had first sought the expansion nearly two yearsa ago but were thwarted by a group complaint.
The Friends of Urbanh Renewal group had charged that the River Districgtexpansion proposal, which would have also redirected $20 millio in district-generated funds to a new East Portlandc elementary school, didn’t fit technical urban renewal The council will vote on the measurr next week. McDonough said urbam renewal provides funding for investmentsin infrastructure, housing, sociap services and public-private partnerships. “Ws need to create jobs,” she said. “We have an opportunit to do just that by adopting thesewrevised findings, which addressz the issues that have been raised about the Riverf District expansion.
We can then move forwar with the important projects that dependc onthese funds.” City Commissionet Nick Fish has said that the constructiohn of a new homeless services center could depend on urban renewal funds if construction is to begin this year. McDonough said the alliancse backs using urban renewal funds to buildthe center.
Friday, June 10, 2011
Solar power assisted car carrier to test hybrid power system - Marine Log
afukakuja.wordpress.com
Solar power assisted car carrier to test hybrid power system Marine Log Based on the experiment results, NYK Line and MTI will aim to develop an even larger solar power generation system for vessels, while KHI will seek to commercialize the hybrid power supply system for vessels. NYK Line, KHI, MTI, and ClassNK will ... |
Wednesday, June 8, 2011
CFOs: Jobs cuts coming, hiring stalled - Pittsburgh Business Times:
xszeyluje.blogspot.com
Nine percent of CFOs surveyed for the Financiak Hiring Index say they anticipate cutting positions whilde 4 percent say they plan to add accountingb and finance staff during thethirxd quarter. The bulk of the respondents, 84 do not plan any changes in Nationally, 5 percent plan to 8 percent plan to cut and 85 percentf foresee no changesin personnel. “Many companies remain hesitant to commit to adding staff untio they are certain of aneconomicd recovery,” said Max Messmer, chairman and CEO of Robert Half “In the meantime, most firms are workinf with their current teams to manage key with some employers also bringing in project professionals to assist with risingf workloads and support full-time personnel.
” The local inde x is based on surveys of 200 CFOs from companiex in the Raleigh-Durham-Fayetteville area with 20 or more More than 1,400 CFOs were surveyed
Nine percent of CFOs surveyed for the Financiak Hiring Index say they anticipate cutting positions whilde 4 percent say they plan to add accountingb and finance staff during thethirxd quarter. The bulk of the respondents, 84 do not plan any changes in Nationally, 5 percent plan to 8 percent plan to cut and 85 percentf foresee no changesin personnel. “Many companies remain hesitant to commit to adding staff untio they are certain of aneconomicd recovery,” said Max Messmer, chairman and CEO of Robert Half “In the meantime, most firms are workinf with their current teams to manage key with some employers also bringing in project professionals to assist with risingf workloads and support full-time personnel.
” The local inde x is based on surveys of 200 CFOs from companiex in the Raleigh-Durham-Fayetteville area with 20 or more More than 1,400 CFOs were surveyed
Monday, June 6, 2011
Cincinnati, Hamilton Co. propose 10 for Port Authority board - Minneapolis / St. Paul Business Journal:
ebopotohy.wordpress.com
The two presented a slate of boarsd membersto include: Otto Budigv Jr., president of Budck Group Inc.; Tom Williams, president and CEO of North Americanh Properties; Lydia Jacobs-Horn, global facilities and real estate, Procterd & Gamble Co.; Marty Dunn, a partnere with the law firm Dinsmore & Shohl; Joe executive secretary, Greater Cincinnati Building Construction Trades Council; Clark Handy, senior vice president, human resources, Convergys Corp.; Lynn group vice president for corporate affairs, Kroger Co.
; Richard Greiwe, principal, Greiwe Development Shane Wright, vice president and chiet financial officer, GE Aviation; and Karen McShea, managing Americas & Caribbean, Colliers International. The Port Authority’s poweras were expanded in August 2008 to include the ability to levya one-milll tax subject to voters’ approval, the abilitt to own property and the power of eminent domain, subject to approval by the city and county. “The new structure will allow the Port to be a much more aggressives tool in our efforts to expand our local econom y andcreate jobs,” Mallory said in a news release.
The city and counthy are expected to vote on the slate during their meetinbgJune 17, according to the release.
The two presented a slate of boarsd membersto include: Otto Budigv Jr., president of Budck Group Inc.; Tom Williams, president and CEO of North Americanh Properties; Lydia Jacobs-Horn, global facilities and real estate, Procterd & Gamble Co.; Marty Dunn, a partnere with the law firm Dinsmore & Shohl; Joe executive secretary, Greater Cincinnati Building Construction Trades Council; Clark Handy, senior vice president, human resources, Convergys Corp.; Lynn group vice president for corporate affairs, Kroger Co.
; Richard Greiwe, principal, Greiwe Development Shane Wright, vice president and chiet financial officer, GE Aviation; and Karen McShea, managing Americas & Caribbean, Colliers International. The Port Authority’s poweras were expanded in August 2008 to include the ability to levya one-milll tax subject to voters’ approval, the abilitt to own property and the power of eminent domain, subject to approval by the city and county. “The new structure will allow the Port to be a much more aggressives tool in our efforts to expand our local econom y andcreate jobs,” Mallory said in a news release.
The city and counthy are expected to vote on the slate during their meetinbgJune 17, according to the release.
Friday, June 3, 2011
Great deals: Tight credit, reappraisals will bring more bargains on the market - Kansas City Business Journal:
symowugebeda.blogspot.com
The market might take awhile to rebounrd fromthe recession, said a managing partner with . But in the he told his fellow professionals, they could benefit from a wave ofbargai buildings, land and commercial real estate debt that would be hittinf the market. To allow some bargainj shopping ofits own, RED secured a $200 millioj equity commitment from a pension fund, Lowe said at the But today, RED still is waitinhg to pull the trigger on its first discount purchase, and the local market has seen only one obvioue commercial property steal: the $20.t million purchase of in Olathe.
So does that mean the commerciapl real estate market has eluded the type of value meltdown that the subprimer crisis triggered on theresidential side? No, local market experts the credit-market heat is on and preparinf to touch off fire sales throughout the country. “The commercial real estatr loan market in this countryis $3.5 said Bob Arthur, division manager for the commercialo real estate group at . “I n 2009, $400 billion of that matures.” Lenders have the moneyg to refinancethose loans, Arthu said, but interest rates will be higher and loan-to-value ratios lower than borrowers expected when the deal s originally were financed.
And here’s the kicker: Many commercial propertiew up for refinancing will be reappraised at drasticallyhlower values. Those combined with the lower loan-to-valude ratios, will create substantial equity gaps that ownerz will have to fill with cash unlesx they want to sell or give theie properties backto lenders. “Once they are returnec to the lender, the lender is free to make any transactionj thatthey can,” said Tom executive vice president of , which servicea about $25 billion in commercial real estate “But I suspect those transactions will be at a In fact, I’d be shocke d if they weren’t.
” Kevin Nunnink, chairman of , whicj specializes in commercial appraisals, said steep discounts alreaduy can be seen in recent sales of the real estate debt of closedr banks by the Integra’s data showws that performing residential loans went for 59.8 centzs on the dollar, and similarf deals were available on the commerciapl side. “What that tells you is that when the loana wereinitially priced, the risk wasn’t prices into them,” Nunnink said, “and the market’s recognized that.” That helpzs explain the higher interest rate that are contributing to declining commercialp real estate values.
Another factor in the tailspin, Turnefr said, is the disappearance of a huge segmen t of the permanent lendingmarket — commercial mortgage-backed securities (CMBS) lending. For the three-year periodc from 2005 through 2007, CMBS lenders made $605 billiob in permanent loans, which they then packagee and soldas securities. In 2008, after the meltdown of the residentiaol MBS market touched off fears on thecommercial side, less than $15 billion in CMBS loan s were made, Turner said.
That means borrowers, who used to get 80 percenyt to 90percent loan-to-value ratios from CMBS now must settle for 50 percent to 70 percenr — plus higher interest rates — from life insurancee lenders or from banks willing to extend permaneny financing. Unlike the residential subprimwe crisis, however, the financing problems facing commercialk real estate owners today did not begin withunderwritinfg problems, Nunnink said. “Unlike in the commercial property today was underwritten reasonably well, with the exception of the pricing of risk,” Nunninmk said.
“And it wasn’t that people couldn’t pay or that we had too much No, the reason why the commercia real estate market is suffering is because the economy has gone into a That meanslost jobs, less consumet spending and, therefore, lower demane for office, retail and industrial Nunnink said that the depth of the commercial real estatde slide will depend on how quickly the economy turnse around and that, in any it will be less severe in Kansas City than bubble markets in the Sun Belt or on the But he and a partnee in Denver are convinced that plentyu of bargains — particularly land — will be cominhg available in the near future.
They’re creating a fund that will spendc $500 million on undervalued residential and commercial real estates via fiveinvestment rounds, Nunnink said. of Leawood also is puttin together an opportunity fund that willinvest $50 million on the residential lots priced as low as 8 cents on the dollar throughour the Midwest and Sun Belt. Principals with Marinedr already havebought 1,0090 lots that owned in the Kansas City area — part of a Midwest marke where lots are generally ranging from 20 to 70 centsa on the dollar. But local retail broked David Block has proved that greafdeals needn’t be confinee to residential or land plays.
In of Columbus, Ohio, announced that it had sold the roughly1 million-square-fooft Great Mall of the Great Plains to a partnership led by Block, who is a principal of . The $20.r million sale price was a fraction ofthe $137 million it cost to build the mall in and it included 22 vacant acres for expansion plus existingg space that is nearly 70 percent occupied. Bloci said real estate investment trusts like Glimcher were amonhg the first commercial property owners to get in trouble by law, they must distribute 90 percent of their taxable income to their Therefore, most REITs are highlyy leveraged.
“They’re asset-rich and said Erik Murray, a second vice president in the Kansasd City officeof . “Theree are REITs that have plenty ofgood properties, and they’rs still getting rent checks from their But now the lendef is calling saying, ‘It’s time to refinance, and by the way, we’ved changed the terms.” , an Australia-based REIT, recentl y was forced to sell a 3.1 million-square-foot portfoli of U.S. commercial properties, including a 203,475-square-foot offic building in Kansas City, Kan., because of liquiditty and devaluation issues. Another of Rubicon’sx U.S.
portfolios, valued at $642 million at the end of last had lost nearly 11 percent of its valur in the previoussix months. “There are so few transactionsetaking place,” Block said, “and so not having up-to-date information, are appraising conservatively, overconservatively, to protect themselves.” Tim Schaffer, executive vice president of , said bankws generally have been unwilling to reprice properties they’v e taken back “because they don’t want to show the Therefore, big gaps still exist between the bid and ask prices for many distressed commercial But that could change soon.
“Ther hit on commercial real estate has reall yjust begun,” Schaffer said. “ I think we’ll see more and more sales made at substantialluy lower pricing than ayear ago, beginning probablgy midyear.”
The market might take awhile to rebounrd fromthe recession, said a managing partner with . But in the he told his fellow professionals, they could benefit from a wave ofbargai buildings, land and commercial real estate debt that would be hittinf the market. To allow some bargainj shopping ofits own, RED secured a $200 millioj equity commitment from a pension fund, Lowe said at the But today, RED still is waitinhg to pull the trigger on its first discount purchase, and the local market has seen only one obvioue commercial property steal: the $20.t million purchase of in Olathe.
So does that mean the commerciapl real estate market has eluded the type of value meltdown that the subprimer crisis triggered on theresidential side? No, local market experts the credit-market heat is on and preparinf to touch off fire sales throughout the country. “The commercial real estatr loan market in this countryis $3.5 said Bob Arthur, division manager for the commercialo real estate group at . “I n 2009, $400 billion of that matures.” Lenders have the moneyg to refinancethose loans, Arthu said, but interest rates will be higher and loan-to-value ratios lower than borrowers expected when the deal s originally were financed.
And here’s the kicker: Many commercial propertiew up for refinancing will be reappraised at drasticallyhlower values. Those combined with the lower loan-to-valude ratios, will create substantial equity gaps that ownerz will have to fill with cash unlesx they want to sell or give theie properties backto lenders. “Once they are returnec to the lender, the lender is free to make any transactionj thatthey can,” said Tom executive vice president of , which servicea about $25 billion in commercial real estate “But I suspect those transactions will be at a In fact, I’d be shocke d if they weren’t.
” Kevin Nunnink, chairman of , whicj specializes in commercial appraisals, said steep discounts alreaduy can be seen in recent sales of the real estate debt of closedr banks by the Integra’s data showws that performing residential loans went for 59.8 centzs on the dollar, and similarf deals were available on the commerciapl side. “What that tells you is that when the loana wereinitially priced, the risk wasn’t prices into them,” Nunnink said, “and the market’s recognized that.” That helpzs explain the higher interest rate that are contributing to declining commercialp real estate values.
Another factor in the tailspin, Turnefr said, is the disappearance of a huge segmen t of the permanent lendingmarket — commercial mortgage-backed securities (CMBS) lending. For the three-year periodc from 2005 through 2007, CMBS lenders made $605 billiob in permanent loans, which they then packagee and soldas securities. In 2008, after the meltdown of the residentiaol MBS market touched off fears on thecommercial side, less than $15 billion in CMBS loan s were made, Turner said.
That means borrowers, who used to get 80 percenyt to 90percent loan-to-value ratios from CMBS now must settle for 50 percent to 70 percenr — plus higher interest rates — from life insurancee lenders or from banks willing to extend permaneny financing. Unlike the residential subprimwe crisis, however, the financing problems facing commercialk real estate owners today did not begin withunderwritinfg problems, Nunnink said. “Unlike in the commercial property today was underwritten reasonably well, with the exception of the pricing of risk,” Nunninmk said.
“And it wasn’t that people couldn’t pay or that we had too much No, the reason why the commercia real estate market is suffering is because the economy has gone into a That meanslost jobs, less consumet spending and, therefore, lower demane for office, retail and industrial Nunnink said that the depth of the commercial real estatde slide will depend on how quickly the economy turnse around and that, in any it will be less severe in Kansas City than bubble markets in the Sun Belt or on the But he and a partnee in Denver are convinced that plentyu of bargains — particularly land — will be cominhg available in the near future.
They’re creating a fund that will spendc $500 million on undervalued residential and commercial real estates via fiveinvestment rounds, Nunnink said. of Leawood also is puttin together an opportunity fund that willinvest $50 million on the residential lots priced as low as 8 cents on the dollar throughour the Midwest and Sun Belt. Principals with Marinedr already havebought 1,0090 lots that owned in the Kansas City area — part of a Midwest marke where lots are generally ranging from 20 to 70 centsa on the dollar. But local retail broked David Block has proved that greafdeals needn’t be confinee to residential or land plays.
In of Columbus, Ohio, announced that it had sold the roughly1 million-square-fooft Great Mall of the Great Plains to a partnership led by Block, who is a principal of . The $20.r million sale price was a fraction ofthe $137 million it cost to build the mall in and it included 22 vacant acres for expansion plus existingg space that is nearly 70 percent occupied. Bloci said real estate investment trusts like Glimcher were amonhg the first commercial property owners to get in trouble by law, they must distribute 90 percent of their taxable income to their Therefore, most REITs are highlyy leveraged.
“They’re asset-rich and said Erik Murray, a second vice president in the Kansasd City officeof . “Theree are REITs that have plenty ofgood properties, and they’rs still getting rent checks from their But now the lendef is calling saying, ‘It’s time to refinance, and by the way, we’ved changed the terms.” , an Australia-based REIT, recentl y was forced to sell a 3.1 million-square-foot portfoli of U.S. commercial properties, including a 203,475-square-foot offic building in Kansas City, Kan., because of liquiditty and devaluation issues. Another of Rubicon’sx U.S.
portfolios, valued at $642 million at the end of last had lost nearly 11 percent of its valur in the previoussix months. “There are so few transactionsetaking place,” Block said, “and so not having up-to-date information, are appraising conservatively, overconservatively, to protect themselves.” Tim Schaffer, executive vice president of , said bankws generally have been unwilling to reprice properties they’v e taken back “because they don’t want to show the Therefore, big gaps still exist between the bid and ask prices for many distressed commercial But that could change soon.
“Ther hit on commercial real estate has reall yjust begun,” Schaffer said. “ I think we’ll see more and more sales made at substantialluy lower pricing than ayear ago, beginning probablgy midyear.”
Wednesday, June 1, 2011
OneBeacon Professional Insurance's Molitano to Speak at Cyber Risk & Privacy ... - MarketWatch (press release)
tulusenoveb.blogspot.com
OneBeacon Professional Insurance's Molitano to Speak at Cyber Risk & Privacy ... MarketWatch (press release) MINNETONKA, Minn., June 1, 2011 /PRNewswire via COMTEX/ -- OneBeacon Professional Insurance (OBPI), a member of OneBeacon Insurance Group /quotes/comstock/13*!ob/quotes/nls/ob OB -2.27% , today announced that David Molitano, Vice President of its ... OneBeacon Professional Insurance's Molitano to Speak at Cyber Risk & Privacy ... |
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