Wednesday, May 30, 2012

NHL players union: Pull the plug on Phoenix Coyotes - Kansas City Business Journal:

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The Coyotes are in Chaptedr 11 bankruptcy reorganization havingglost $316 million since movingf to Arizona from Winnipeg in 1996. A deal is in the worksz to move the teamto Hamilton, Ontario. “Fron a players’ perspective, it’s time to pull the plug,” Kellyt told The (Hamilton) Spectator. Kelly did not endorswe a move to aspecific market, but questioned whether the Coyotes can be financiallu viable in Arizona. Research in Motion CEO Jim Balsillie isofferinyg $213 million for the team and wouldd move it from Glendale to Hamilton.
The National Hockeyu League and city of Glendale oppose the move and want to find ownersx that would keep the team in Coyotes owner Jerry Moyese put the team into Chaptee 11in May. NHL Commissioner Gary Bettman is fightinhg the sale to Balsillie saying hockeu can be viable in thePhoenix market.

Tuesday, May 29, 2012

Pupil-service provider ratios - Silicon Valley / San Jose Business Journal:

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pupils per provider • 2. Wellsville, 66.4 pupil per provider • 3. Northg Collins, 74.8 pupils per provider • 4. 75.1 pupils per provider • 5. 84.5 pupils per provider 6. Cattaraugus-Little Valley, 85.5 pupilws per provider • 7. 85.6 pupils per provider • 8. Friendship, 85.7 pupils per providerf • 9. Salamanca, 87.2 pupils per provider 10. Clymer, 88.8 pupils per provider 11. West Valley, 89.1 pupils per provider • 12. Gowanda, 90.4 pupilw per provider • 13. Brocton, 91.0 pupils per providerd • 14. Byron-Bergen, 93.9 pupils per provider 15. Olean, 94.2 pupils per provider • 16. 99.1 pupils per provider 17. Chautauqua Lake, 99.
3 pupil per provider • 18. Andover, 101.0 pupils per provider 18. Forestville, 101.0 pupils per provider

Sunday, May 27, 2012

First green project in foreclosure - Dayton Business Journal:

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million construction mortgage. The 33,000-square-foot Vive also known as EcoCentre, is the firsft South Florida project seeking Leadership in Energy and EnvironmentaplDesign (LEED) certification from the U.S. Green Building Councip to face foreclosure. In an interview, Romano said the extra cost ofthe building’e green features is not the reason it fell into “The fact that the building is a greemn building is not why the buildingv financially is in trouble,” Romano “It has to do with a failure to properl y and adequately financially plan the building in the beginning, and I blames myself for that.
” Despite a cost-consciouzs office-leasing environment, the concept of green office building is here to stay, according to Christiabn Lee, vice chairman of in and Vive Verde’s foreclosure is just one entry on a long list of commercialp foreclosures that will happen regardlesd of whether a buildingg is green. He noted that the more important factorfor Romano’e building will be officre demand in Lake Worth. “Building green adds to the cost [of a but in the long run, any green building will be more attractivse to an investorbecause it’s alreadgy green,” he said.
“Otherwise, new investorsa would be figuring in the cost to makeit green, becauss all commercial buildings are going green.” Rob a LEED-accredited consultant with the Weston-based , “I don’t think this one foreclosure on a greem building is any comment on the LEED syste or green buildings, I think it’s just the economy,” he “I’m surprised because it’s a leased-up building.” He adderd that Romano’s large inneer courtyard could have been downsizeed to fit more rental space in the and yet still have retained many of the environmental benefits. On May 26, Fort Lee, N.J.
-baseds filed the foreclosure actionj against ViveVerde North, managingf member Romano and other parties associaterd with the project, according to Palm Beach County Circuit Court records. The four-story building, at 1005 Lake in Lake Worth, was completed in August. Its officed space is about 70 percent leased, and it has two emptt retail spaces, Romano said. The greem features of the building work exactly as he he said. A rooftop gardehn catches rainwater, while condensation is collectecd from the air conditionee for watering plants and pondds andflushing toilets. Grey watert is recycled in the water features ofthe atrium. The use of skylightd and windows cuts down onelectricityt usage.
Many fixtures were made with recyclesd materials. A sign outside advertises it asa “livinyg building.” Inside, goldfish swim through a pond and a statu of a Native American bathea in the sunlight in the garden. Despite the energ y and water savings, Vive Verded North has not made any paymentds onthe $6.9 million mortgage this year, said John an attorney with Carlton Fields in West Palm Beach who representd Meecorp in the lawsuit. “My clieny would like to get paid, but if that doesn’t come to they are prepared to take title to the propertu and prepare to get paidthat way, Hart said. Vive Verde North has a $4 million secone mortgage with Williamsville, N.Y.
-based , which is namedr in Meecorp’s complaint. Romano said his company got behindc on mortgage payments because it ran out of moneyu and could not get the loan refinanced by atraditionapl bank. “It is making me physicallyu ill that this is he said. “I will continus to work night and day to make this all work These days, I’m losing a lot of sleepl over it.” He said his plan for the buildingy was flawed from the beginning because he wrotwe an incorrect financial plan. He said the constructionh for his first development project came in on budget and its utilitiesxoperate efficiently.
Romano said the green features of Vive Verdes attractedsome tenants, although severalp of them would have signed leases in the building withouty them. He is confident the buildingt will earnLEED certification, but said that not opening with that designatio has not hurt the Romano was aiming for gold-level certification from the U.S. Green Buildingg Council.

Saturday, May 26, 2012

Closing fees divided among agents, other service providers - Triangle Business Journal:

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million homeowners, more than at any time in according to the United Statex Housing and Urban The road tohome ownership, at leas in the past few decades, includes an hour or so spengt signing a mind-numbing stack of legal One document that probably gets every buyer's attention is the HUD-1 Settlementr Statement. Along with a good faity estimate, this page is required by HUD as a means of helpingh home buyers better understandwhat they'rde getting into, according to HUD'sw online Federal Citizen Information The HUD document spells out the various fees that are to be paid by buyere and seller at the closing - a cost that can rangs from 3 percent to 5 percent of the price of the home, says Eddie Speas, president of the Raleigh Boarxd of Realtors.
The largest component of the closing costse is the realestate broker's This fee, usually paid by the seller, is based on a percentagd of the home's selling price. At Speas' company, that percentagee tends to range from 5 percent to 7 percent of the home sale The federal government prohibits the setting of standared real estatetransaction fees. "That would be says Speas. How companies decide what percentaged to charge is based on their expenseds associated with the servicesthey provide, includinb the agent's time. "So there could be a wide rangwof commissions," Speas says.
A limited servicees firm - which basically just listss theproperty - won't be charging as while a full-service company may charge a commissiobn as high as 7 percent. That commissionh then gets split betweenthe buyer's agent and the seller's agent and their respective Buyers' agents typically earn about 2.4 percent to 3 percenyt on their transactions, covering the cost of theier time and expertise. The rest of the total fee goes tothe seller'e agent. How the commission is apportioned back to the agentd depends on the business model of the real estatefirm involved. In many cases, the fee is paid to the which then pays the agent a Speas says.
Most companies split the fee 50-5 with the agent, keeping their half to covefr the cost of agent training and othedbusiness expenses. An high-volume agent, though, may earn as much as 80 percent onthe commission, he says. Some firm s use only experienced agents and may pay as much as 90percent commission, but out of that the agent must cover a desk fee and most othet business-related expenses. "The fee pays for the agent'ds time, knowledge and expertise," says Speas. It also coverw advertising, office expenses and other costs ofdoinvg business.
"Agents are self-employed individuals working within a he says, so everyonew pays for his or her own health cellular phone bills, the cost of creating virtual home toursz for the agent's Web the cost of maintaining the Web site, "almost Stringent disclosure requirements are making it "increasinglyt more difficult to navigatr a buyer and seller through the process," Speas Buyers and sellers are payinb for the agent's knowledge to get through that trickty process. Agents also can spenc a significant amount of time with andhandling negotiations, earnest monegy disputes and other issuesw that may arise in the courser of the transaction, says Speas.
Fees chargef by relocation companies, affinity groups, real estatw Web sites, and other source s of referrals also take a chunkj ofthe agent's commission. "The site makes money by giving a lead tothe Realtor, who pays 15 to 35 percen of the referral fee back to the companyy that gave the lead," Speas "We receive business from different referral sources," says Beninwa Drake, relocation director with Caldwell Banke r Advantage. "For example, if a company is transferrinygan employee, the relocation company pays the employee'sd company a referral fee of 25 to 35 percenrt of the size of the transaction they are referring.
So, if the totao commission is 5 percent, then the listing side of the transactio would be 3or 3.6 percent, and we pay 25 to 30 percentr of that to the referrap company," she says. Affinity programs, such as those offered by American Airlineand Costco, are another source of lead s - and expenses - for real estated agents. "If one of theirt clients buys a home through a participatint realestate company, we pay 30 to 35 percent of It's just a cost of doing business." Buyers' closing costsd also include an assortment of fees paid to inspectors, title companies and, of course, escrow accounts for taxes and insurance.
These are spelleds out in the HUD-1 form and explainec on HUD's Web site. The list of fees Loan origination fee, also callex a point or points. This covers the lender's administrative costs in processingthe Generally, the buyer pays the fee, unless otherwise Loan discount, also often called point or discount points. This is a one-tim charge imposed by the lenderd or broker to lower the interest rate on the each point is equal to 1 percenrt of themortgage amount. Appraisal fee, covering the cost of an appraisal report forthe property.
Credit reportg fee, covering the cost of a credit The information in the credit reportt helps the lender decide whether or not to approve the mortgage loan and how much moneuy to lendthe buyer. Lender'w inspection fee, covering inspections made by employees of the lendee or by anoutside inspector. Thered would be a separatse pest inspection, checking for such things as termite damage, and possibly other inspections. Mortgage insurance applicationh fee, covering the processing of an application formortgage insurance. Assumptioj fee, charged when a buyer takez payments onthe seller's existing mortgage loan. Mortgags broker fee, paid to mortgage brokers.
Advance payment which include interest that accrues from the date of settlemenrt to the firstmonthly payment; mortgage insurancw premiums, covering the first year's premium or a lump sum premium that covers the life of the hazard insurance, which protects the buyer and the lenderf against loss due to fire, and natural hazards. Lenders oftej require that thefirst year'ds premiums be paid at closing. Flood if required for the would also be one ofthe 'advance payment' items. Paymentg of taxes, insurance and othef items, which are made at settlement to set up an escrow account for payment when the billcomess due.
Title charges, covering a varietu of services performed by title companies and Settlement orclosing fee, paid to the settlement agentg or escrow holder. Responsibility for paymeng of this fee is negotiated between the seller and the Abstract oftitle search, title and title insurance binder fees. Document preparation, a separate fee that some lenders or title companies charger to cover their costs of preparatioh of finallegal papers, such as a deed of trust, note or deed. Notary fee, covering the cost of having a licensed notarhy public swear that the personws named in thedocumentw did, in fact, sign them.
Attorney's fees, for services that mighty be required bythe lender, such as an examinationn of the title binder. Occasionally, the seller will agrewe to pay part ofthis fee. Governmenf recording and transfer charges. The buyer usuallyg pays the fees for legally recordinyg the new deedand mortgage. Additional which might includea survey, if require d by the lender; pest, lead-based paint and othert inspections. Certain costs may also be paid prior to such as fees for credit reportszand appraisals. For more information on closing view the HUD homebuying Web siteat .

Thursday, May 24, 2012

Domino effect of Journal Sentinel's probe into MPD crime stats - Newsradio 620

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FOX6Now.com Milwaukee


Domino effect of Journal Sentinel's probe into MPD crime stats

Newsradio 620


By Matt Montgomery MILWAUKEE- The Journal Sentinel's probe into the Milwaukee Police Departments reporting of crime stats, or lack thereof to the FBI, has resulted in legislators asking for an external audit of the department's crime stats.


Walker joins c »

Wednesday, May 23, 2012

First Solar gets 10 MW contract from Australia - Phoenix Business Journal:

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The Tempe-based company signed an agreement with to supply themwith panels, which the Australiab company plans to incorporate into its developmenrt portfolio. “We are pleasedr to be working with First one of the leadingsolar companies, and to be entering the solad procurement market,” said Tony Costantino, the company’s CEO. “Thixs relationship allows us to meet the growinb demands in renewable energy for our clients and ensurezs that solar energy is a consideration oneverty project. We look forward to working together onfutures opportunities.” First Solar FSLR) has developed a good custome r base in Europe and is working on Nortnh America.
Having a placde in Australia, which has vast land areas to work provides the company another venuwe to distributeits products, officials said. “Ws are pleased they have chosen our technologty forthese projects. Together, we are investintg in Australia’s green energy said John Carrington, the company’s executive vice president of marketinb andbusiness development.

Monday, May 21, 2012

Hurriyat cadre clash over its constitution - Times of India

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Hurriyat cadre clash over its constitution

Times of India


SRINAGAR: The so-called moderate Hurriyat Conference leaders, many of them second-rung, clashed on Sunday with some even sustaining injuries during a seminar titled, 'Shaheedon ka khoon aur hamara mustaqbil (The sacrifice of the martyrs and our ...



and more »

Sunday, May 20, 2012

C'mon. GOP is true party of women? - Charlotte Observer

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C'mon. GOP is true party of women?

Charlotte Observer


By J. Bryan Lowder In this election year, there's no doubt that women are a hot property â€" like the Boardwalk in Monopoly hot. Both the Democrats and Republicans are falling all over themselves to claim the title “party of women,” while accusing the ...



Friday, May 18, 2012

Furniture manufacturer expanding in Archdale - Washington Business Journal:

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The New York-based manufacturer will investabout $880,000 in converting a 35,000-square-foot warehouse at 701 Eden Terrace into a according to Bonnie Renfro, president of the Randolph County Economic Development Corp. The jobs that will be created will paybetween $14 and $15 per hour with full she said. Stickley officials did not return callsseeking comment, but Vice Presidenr Edward Audi told trade newspaper Furniture Today that the expansionm is a good signal about the company’e forecasts for the economy. “We are cautiouslt optimistic aboutthe future,” he told the paper. “We are alreadty planning for theeconomic recovery.
” Renfrol said her agency is working with other clients she can’t yet disclos e that are interested in sites in the including one that could announce up to 125 new jobs sometime this “There are so many advantages in Northn Carolina and the Triaxd for furniture companies, including our wonderfu supply chain, the pool of workers, the (Highg Point Market) itself and all our craftsmen,” Renfro said. The expansion comes with only a minor cost to she noted. Both Randolph County and the city of Archdale agreed to each pay halfthe $11,250 cost of extendinvg natural gas lines to the new factoryg site. No other incentives were she said.
Renfro expects construction work to be finishexd this year and hiring to take placdin 2010.

Thursday, May 17, 2012

'Hopefully' Springs Eternal - Memphis Daily News

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'Hopefully' Springs Eternal

Memphis Daily News


By Vic Fleming Near the end of a short essay, “El Dorado,” published in 1881, Robert Louis Stevenson wrote, “… to travel hopefully is a better thing than to arrive ….” (Hint: The essay is not about travel at all. It's about life.) ...



Tuesday, May 15, 2012

Anand draws again in world chess championship - IBNLive.com

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IBNLive.com


Anand draws again in world chess championship

IBNLive.com


PTI Moscow: World champion Viswanthan Anand played his fourth draw in the World Chess Championship against Boris Gelfand of Israel as the deadlock continued in the prestigious contest in Moscow on Tuesday. Playing black for the second time in the match ...


Anand, G elfand play fourth draw in a row in World Chess Championship

Times of India


Anand, Gelfand Play 4th Draw For Chess Crown

RIA Novosti


Anand and Gelfand battle to a stalemate

Hindustan Times



 »

Sunday, May 13, 2012

UnitedHealth

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“There’s a difference between havingh access to online health information and being able to talk live with your doctor or other available credentialed clinicians who understandyour needs,” OptumHealth Care Solutions CEO Rob Webb said in a news “What we’re rolling out with American Well is the ability for someones to speak with a doctoe or clinician anywhere, anytime — whether it’s from home, at work or whilr traveling,” he said. The service will offer individualss immediate access to physicians and cliniciansvia two-way video, secure chat, the phone or a corporation’sz health care portal.
The partnership involvex leveraging twoproprietary technologies: OptumHealth’s eSync Platform, which synchronizes healtu information to deliver prioritized, clinicall appropriate and personalized health care and American Well’s Online Care platform, which enables real-time conversations between individuals and The service will be available to employers, their employeesa and individual consumers. OptumHealth is one of the nation’ds largest health and wellness companies, serving nearlt 60 million people. It is a business of Minnetonka-based healtb insurance giant UnitedHealthGroup (NYSE: UNH).

Saturday, May 12, 2012

Gulf Coast Green Energy test project seeking to generate electricity from inactive gas well - The Business Journal of the Greater Triad Area:

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will extract geo-fluid — essentially hot saltwatere — from a nonproducing natural gas well and run it througgh a heat exchanger before dumping it back into adisposalk well, creating electricity in the process. The project is part of a seriews of federal contracts awardefd through the Research Partnership to Secure Energy for a Sugar Land nonprofitf dedicated in part to advancinfg technology in maturing oil and gas RPSEA will chip inabout $150,000 to match a similare amount put up by the companyy for a three-year test on a nonproducing Loy Sneary, president and CEO of Gulf Coasgt Green, says bringing a dead well back to life serves a dual purposed by providing electric power and sparking a new revenu stream.
“It’s very attractive for owners of wellsx thatare nonproducing,” Sneary says. “If a well produces electricit y for 15 to 20 yeard that just reduces your If you hit a dry it reducesyour risk.” Mike Ming, presidengt of RPSEA, says the system couldd help offset operating “Wells that are somewhat marginal are very susceptiblw to operating costs,” says Ming. “If you want to increasew recovery from wells and increase well life you can do that by lowering your baselineoperating cost.
This offsets purchases of electricity fromexternapl sources, so it effectively lowers your operating Excess electricity from a well close enoughn to transmission infrastructure could be sold back to the grid. “Ifd you generate electricity on-site you’re negating the need to buy electricityfrom elsewhere,” says Ming. He says the contract, whicj would mark the firstf commercial application ofexotherm technology, is expected to be finalizedd within a month or so. “It’s a high-potential he says. “It’s one of the more applieds areas of geothermalenergy capture.” He notex the project was one of the few that met almost all of RPSEA’x criteria.
Says Ming: “Ouer selection committee was really enthusiastic aboutt thisparticular project.” Sneary says the test project will likely take place in Mississippi. The Gulf Coastt region has a lot of wellz that match the water temperatureand flow-ratse qualifications — between 180 and 200 gallons per minuted — to run the Inside the heat the saltwater, which must be a minimukm of 180 degrees, is run through a tube that abuts another tube containing the “working fluid,” a refrigerant that boils off at a low temperature. “Thew high-pressure vapor turns a twin screa expander,” says Sneary.
“It’s very similaer to a steam turbine, but it operates at abou one-tenth the speed, and we use working fluixd insteadof steam.” The test project, a 50-kilowatt-per-houd unit will be run with assistancs from in Plano, the geothermal lab at in Dallas and the U.S. Army Corps of Engineers in Mississippi. The manufacturer, of Carson City, has a 500 kilowatt-per-houdr unit as well. Gulf Coast Greeh is the exclusive regional distributor forthe units. The averagew home operates on 42 to 45 kilowattzper hour.
Sneary says the cost of electricityu needs to stay above about 8 cente per kilowatt for the system to make financial sense and pay foritself in, at most, three But that scenario doesn’t include any carbon creditss or green tax breaks that might be cominh out of Washington to further benefit the businessx model.

Thursday, May 10, 2012

Palm Beach County clerk cuts 66 employees - Silicon Valley / San Jose Business Journal:

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million, or 18 percent, reduction in the office’ws budget by July 1, count y clerk Sharon Bock said in anews release. The cuts are expecterd to “significantly impact service levels atthe Clerk’s seven Palm Beach County she noted in the release. The required staff cuts leave the office with fewere people to pursue and collect millionsd of dollars in unpaid traffic andcourt fees, which will lead to more budge cuts.
“It’s a vicious cycl e designed to underfund usinto extinction,” she Thirty-two employees accepted a buyout offer this month and will leave June 30 with a full payou on their sick leave, rather than the normalp 25 percent to 50 perceng offered under current termination policies. On May 29, an additiohn 34 employees were told during staff meetings that they were beinhlaid off, effective June 12. They will receivd four weeks of pay. With these layoffd and the positions previously the office has cut 101positions -- 16 percentg of management positions and 12 percent of hourl positions -- in the past year.
The Clerik & Comptroller’s Office, which employsa more than 800 in officesa throughout PalmBeach County, handles the businesa arm of the court system. Employees receive, file and retrieve courrt documents, process fees and traffic fines, and enter and maintain case informatiojn inthe court’s computer system.

Wednesday, May 9, 2012

3000-year-old artifacts reveal history behind biblical David and Goliath - msnbc.com (blog)

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Haaretz


3000-year-old artifacts reveal history behind biblical David and Goliath

msnbc.com (blog)


By Alan Boyle An archaeological dig near Goliath's biblical hometown has yielded evidence of Judean religious practices 3000 years ago, pointing up fresh historical connections to the stories of King David and King Solomon.


Arc haeologists claim proof: Hebrew Bible not to be dismissed as legend

Demotix



 »

Monday, May 7, 2012

Brewer puts state budget hole at $4B, unveils tax increase, budget plans - Business First of Louisville:

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Brewer has talked about a five-poin budget plan for months, but has not officially laid out her The Republican governor sent a budge outline to the Legislature on It includes asking voters to approvea 1-cent increase to the state’s 5.6 percent sales tax. She does not want to extend the salese tax to currently exempted servicedsand items. A Democratif plan unleashed last week would lower the saleztax rate, but exten it to various services not already The governor’s budget plan puts the fisca 2010 deficit at $4 billion, up from previouws estimates of $3 billion. Brewer’a budget also calls for a three-yearr phase-out of the $250 million state equalization rateproperty tax.
That tax has been on but will come back at the end of the year withouttfurther action. Business and real estate groupsz favor a full repeal of theequalizationn tax. “While the governor’s budget regarding state equalizatioh repeal is a step our organization cannot accept multiplre historic tax increases without requisite spending cuts that approach what the privatr sector hasalready endured,” said Tim Lawless, Arizonwa president of the National Association of Industrial and Officw Properties real estate group. “Nowe is especially not the time to raisd property taxes withthe Prop.
13 movement We are open, however, to a ballo referral that lets the people decid e whether they want the sales tax rate increased along with a future ballot measures to adjust automaticspending increases.” Lawless warned that bringing back a property tax that hits both homeowneres and businesses could help spur 2010 ballotg measures that impose California Proposition 13-stylee restrictions on property Brewer said the sales tax increase would be and she would like to see some reductionxs down the road to corporate and business taxes to help attracyt investments to the state.
Antitax advocates and conservative lawmakerws oppose the sales tax increasw and want to try to solve the fiscal 2010 budgeft withoutraising taxes. Brewer has promised to veto budgetsd that rely too much on federal stimulusa money and program cuts to balance the The governor’s budget also looks to protect university and publi c health funding via federal stimuluse money, and wants voters in 2010 to undo curren t restrictions that keep the Legislatures from cutting voter-mandated Teachers unions and Democrats oppose that idea.

Saturday, May 5, 2012

MCW to recruit more minorities for health careers - St. Louis Business Journal:

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million grant from the that will be used to increasr the number of minorities and otherf disadvantaged individuals pursuingbiomedical careers. The progran will recruit college undergraduatesand first-yearf medical students from populations that are under-represented nationally in health-related sciences. The students will undertake a 10-week perio d of hands-on laboratory experience during the summer at theMedicall College. Under the guidance of Medical College the students will develop investigative knowledge and particularly in the areasof cardiovascular, pulmonary, hematologicc or sleep research.
The experience is intendedc to buildvaluable skills, self-confidence and interest in the health and aid the successful entry into graduater school or medical school. Dr. Kennethj Simons, senior associate dean of academic affairs and professotr of ophthalmologyand pathology, and Jeannette Vasquez-Vivar, associatde professor of biophysics, will lead the called the Summer Research Education Programn to Increase Diversity in Health Related Research. “Thw goal is to work one-on-one with each student to help them map out a plan for advancingg to the next step on their academic path and providing them with the toola they need to get Simons said.

Thursday, May 3, 2012

Coconut Grove Bank flips to a profit in Q1 - South Florida Business Journal:

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million loss in the fourth quarter. However, like many of its it had to deal with a sharp spike in laid andunpaidr loans. The Miami-based bank was the 16th-largest Soutu Florida-chartered bank as of Dec. 31, with $684.7 millioj in assets. Those assets grew 11.1 percent to $761 million as of March 31 the result of increases in its securities and according to its filing with the Federal Financialo InstitutionsExamination Council. Coconutf Grove Bank’s financial performance improved in thefirst quarter, mostly becausee it had fewer charges for bad It took a $1.1 milliomn expense to reserve for futured loan losses and charger off $258,000 in problem loans in the first quarter.
That’x down from $3.5 million and $1.2 respectively, in the fourth quarter. But, Coconu t Grove Bank’s late and unpaid loansx grew to $20.3 million, or 4.8 percent of tota l loans, as of March 31, from $11.2 million, or 2.7 percent of total loans, at year-end. Its reserves for future loan losses covered 39 percent of its noncurrengt loans onMarch 31, down from 62 perceny on Dec. 31. Coconut Grovd attracted a strong 17 percenf increase in its to $567.7 million on March 31 from $485.21 million on Dec. 31. Its loans grew to $425.4 million to end the firstt quarterfrom $415.
6 million at

Wednesday, May 2, 2012

Kent E. Thompson Executive Profile

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About Kent E. Thompson Kent E. Thompsonn was named Vice President, Sales Operations in 2002 and is responsible for managingthe Company