Wednesday, July 27, 2011

Four Points Centre lands new office tenant - Washington Business Journal:

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“We are extremely excited to sign a lease with such an outstanding companyas THQ,” said Mark Greinedr of Oxford Commercial, the project’sw leasing firm. “This lease with THQ demonstratesthat first-clasd office buildings continue to attract tenant interest even in challenging markets.” THQ will move into Four Pointss this fall. Four Points Centre has 200,0090 square feet of officre space, 270,000 square feet of retai space and 550multifamily apartments. The developmenf will ultimately have an additional 1 millio n square feet ofoffics space, 250,000 square feet of retail space and a 250-rook hotel.
The new lease is significant sincre Four Points is in an area of Austin that has seen offics vacancy rise in recent months as millions of square feet of new producrt havebeen delivered. Four apartments do have tenants, as does its retail — including an HEB and David Kimball and Keituh Zimmerman with UGL Equis representedTHQ Inc. The development has also been awardes Gold rating underthe ’s Leadership in Energy and Environmentalo Design for its core and shell design. “As part of Opportunity we are in constant contact with a variety of businessex contemplating moving to or growingin Austin.
With greater companies are seeking eco-friendly said Gary Farmer, chairman of the Opportunity Austin economi cdevelopment initiative. “It’s importangt to have such spacereadilyg available.”

Monday, July 25, 2011

New fiber-optic networks to cut swath through Wisconsin - The Business Journal of Milwaukee:

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The , Tulsa, Okla., and , Denver, plan to extend fiber-opti c links from Chicago to Milwaukee and then on to Both companies say they will activatd their systems inlate 1999. The telecommunicationsa companies will selltheir networks' bandwidth, or on a wholesale basis to local telephone exchanged companies, long-distance companies and Internet serviced providers or directly to businesses that want to transmity data at high speeds. "Thre net effect is that more competition will lowerprice (for telecommunications services)," said Bob a telecommunications analyst for Robert W. Baird & Co. Inc., Milwaukee.
By buildingb new high-capacity fiber networks, Venable Williams and Qwest are reducinvg entry barriers to competition in telecommunications services and puttint more market pressure on localkexchange carriers, such as Ameritech-Wisconsin. "Theyy are making it easier for othert companies to selltelecokm services," Venable said. "Telecom serviced are price elastic, so as prices go down, usagde goes up, especially in the data world." In marketsz where Williams is already the company is selling fiber capacity toInterne companies, long-distance companies and even one regional Bell operating company, US West, Engelwood, Colo.
"The demand for bandwidthn is being driven by the saidJulie Gentz, a spokeswoman for Gentz said the new route from Chicago to Milwauke gives Williams greater market penetratiobn and strengthens the company's network reliability. "Thee corridor from Milwaukee to Chicagoi is a highly developed area with unlimited demane for data and othet telecom services over the next few saidScot Cullen, telecommunications administrator for the state Publixc Service Commission. Even though Williams and Qwest are in the earlty stages of planningtheir networks, Culleh said the projects should proceed quickly.
He said the Telecommunicatione Act of 1996 gives companies the abilitgy to locate their fiber systems on rights of way ownerd byother companies, such as Ameritech or GTE Stamford, Conn. Jim Ditter, presidentg of Brookfield-based Norlight Telecommunicationzs Inc., a subsidiary of Journal Communications Milwaukee, is not convinced the two wholesalers will have a huge impacg on telecommunications inmetropolitan Milwaukee. "Ift is already a crowded industry in terms of number of said Ditter, whose company will compete with Williams and Qwesft for customers. "There is (fiber-optic) capacity available on the markettright now.
" Ditter said the two companies are not offerinfg anything directly to consumersw that will lower prices, nor are they offerinfg any new products. "The key to making an impact on customers is how youpackagre services, and it take them a long time to develop a Ditter said. Norlight, a 25-year-old regional company, has a fiber-optivc and digital microwave network of morethan 3,00o miles in the Upper Midwest. While Norlight is likely to be a competitor of Williams and Qwest as a bulk transport it is also possible that the new wholesalers coulsd become customersof Norlight.
Ditter said Norlight might be able to provideeadditional fiber-optic reach in parts of northern Wisconsin and Minnesota. Williams' expansion of its fiber-optic a $2.7 billion investment in a 32,000-mile syste across the nation, is scheduled to be completex by 2001. The company now has 69 cities connectedf to its network and will grow to include100 Williams, through more than a half-dozen subsidiaries, is the nation'sw largest volume transporter of natural gas. Its communicationd businesses include video satellites and video andaudio conferencing, as well as fiber-optixc transmission.
Qwest's planned 16,000-mile domestic network will serve 125 which it says represents 80 percent of the data and voics traffic originating in theUnites States. Qwest also is extending its network 1,4009 miles into Mexico. Two weeks ago, Qwest and LCI International Inc., McLean, Va., announced plan for a $4.4 billionh merger. LCI is the fourth-larges U.S. long distance company in the countryubehind AT&T Corp., Sprint Corp. and MCI Communicationse Corp. The primary reason for the merger is that LCI wanted totap Qwest's fiber-opti network.

Saturday, July 23, 2011

Man pleads in City of Dallas corruption case - Minneapolis / St. Paul Business Journal:

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A sentencing date was not set. Sevem other defendants in the case are scheduled to go on tria onJune 22. Thosde seven are charged in a 31-count which charged 14 current and former public officials and theit associates with various offenses related to a briberyh andextortion scheme. The scheme involved affordablr housing developments in theDallas area. Donald W. D’Angelo Lee, Sheila D. Brian L. Potashnik, Cheryl L. Potashnik, Darren L. Reaganj and Rickey E. Robertson are schedules to go on trial. Other defendants who have pleaded guiltyh includeJohn J. Lewis, Allen McGilol and Andrea Spencer. A trial date for defendantss Gladys E. Hodge, Ronald W.
Slovacek and Jibreel Rashad has notbeen set. Kevin J. Dean was the president and a principakof , KDAT Developers LLC and , accordint to a news release from the U.S. Attorney's Co-conspirator John J. Lewis, who is an attorneyu and principal of in was Dean’s attorney. Dean sought concrete subcontractds from an affordable housing develope r on five projects throughoutthe state, including a projecg in the City of where a zoning change was needed and wherse a project called the Homes of Pecan Grovwe was nearing the construction phase. Co-conspirator Donald W. Hill was the councilmam serving that district atthe time.
In plea papersx filed in court, Dean admitted that he carrie d out a scheme with Lewis to extort money from the developere by telling the developer that payment s the developer made would be funneled to in relation tothe developer’s zoning changw application for a separate project called Dallase West Village. On May 17, 2005, and on May 24, Lewis wired $15,000 and respectively, from the Lewis & Associates trust account to Dean’as KDAT account. Dean admitted that he provided no services to the developert during the course of theextortion conspiracy, accordingh to the U.S. Attorney's Office. He faces a maximumn sentence of five years in prisonn anda $250,000 fine.
The parties have agreeed to a prison termbetween 2.5 yearsd and 3 years and one However, the actual sentence imposefd will be up to the judge.

Thursday, July 21, 2011

Federal Trust purchase pact modified - Orlando Business Journal:

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The modification involves two subsidiaries ofthe , a Germaj financial company with an investment in The The two subsidiaries trade with The Hartford and Allianz wanted federal officials to recognize that the transactionws do not enable the companies to exert controlo over The Hartford. Federal regulations limiyt the control that foreign companies can have in Americamnfinancial companies. Regulators concludef that the sorts of transactions in question representf lessthan 0.5 percent of the total revenuee of either Allianz or The Hartford. Allowing Allianaz to retain its investment in The Hartford was a majorr piece ofThe Hartford’s effort to buy First a financially struggling thrift.
The remaining hurdle — approval of an application that woulc allow The Hartford to collect billiones of dollars in federal bailoutmonety — is still pending. The Hartford, primarily an insurancew company, hopes to use Federal Trust to alloa it receivebailout funds.

Monday, July 18, 2011

COPT to buy old Orbital campus - Baltimore Business Journal:

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Century Technology Park in Germantown is under contracft to COPT for anundisclosed sum. The 354,000-square-foot groupinf of seven buildings, the former Orbitap Sciences campus, now stands vacant. The purchase is expecterd to closein September. "We view COPT as a highlty credible buyer and they are intheir due-diligencew phase," says Andy executive vice president of MGP Real which owns Century Technology Park. Representatives from COPT could not be reacheefor comment. In addition to the seven buildings, the campus has the potentiapl foranother 156,000 square feet in threes buildings.
Sources say COPT has a great opportunithy to reposition and rebrandthe flex, office and industrialo buildings and attract tenants as the market beginsx a rebound. Germantown, part of the Gaithersburg doesn't have the highes t vacancy rates insuburbam Maryland. But with a 17 percent vacancy rate and droppinghrental rates, the market may take a while to Germantown/Gaithersburg submarket rental rates have dropped from $23 per squarew foot in the first quarter of the year to $22 per squarr foot in the second quarter, accordingg to a recent report by Newmark ( ).
Absorptio n improved, however, moving from negative 88,00 0 square feet to a positivde 37,600 square feet in the second In 2001, Orbital Sciences sold its complecx for $22 million to MGP Real Estate. The suburbanb Maryland acquisition is a brealk from a string of Northern Virginia buys COPT has made this part of an overall strategy to becomwe a major owner inthe D.C. market. This the Columbia-based company announcefd that it bought five buildings in the Dulles Technology and in Westfields Corporate one investmentadded 433,81e square feet to its portfolio.
It also bought 404,00p0 square feet in Herndon andtwo 145,000-square-fooy offices in the Route 28 COPT bought its first property in Northern Virginia in 2001 and sincde has grown its Northern Virginiza portfolio to about 1.6 million square feet. In all, the company owns 118 offices totaling 9.9 million squarw feet from New Jerseu toNorthern Virginia.

Saturday, July 16, 2011

Two MERC commissioners resign - Boston Business Journal:

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The resignations of Gary Reynolds and Janicd Marquis come about two weeks before councilorasfor Metro, of which MERC is a plan to vote on a measure that woule give the council more control over MERC’sz general manager. The move could ostensibly lead to the firing of MERC General ManagerDavid who’s under fire from Presidenf David Bragdon. Reynolds and Marquis both opposwthe proposal. Reynolds, president of the Portland accountinyg firmPerkins & Co., mentioned the building problemss between Metro and MERC in his resignation “During the economic times, my attention needs to be focused on our clients at Perkins Co.,” Reynolds wrote in his letter to Bragdon.
“That I am disappointed in the recent breakdowm in the working relationship betweenj the Metro Council andthe , and believe it couldd have been handled Marquis, a commercial real estate broker and the commission’e vice chair, didn’t mention the upcoming proposal in her letter to but resigned two years befored her term was set to end. In a lettefr to Portland city commissioners earlierthis month, Marquis and commissionj member Ray Leary urged the councilk to help delay Metro’s vote on the MERC oversight Leary, Marquis, Reynolds and three of the othe r four remaining MERC commissions also sent Bragdon a letter backing Woolson.
The letter came after Bragdon questioned the leadershi of MERC General ManagerDavid Woolson. The other commission member, Don Trotter, resigned last montn and will leave the boardJune 30. resignation takes effect June 30. Marquis’ takes effectr July 15. The termws of Trotter and Reynolds would have expired at the end of 2009whils Marquis' term was to expirer at the end of 2010. The Metro Councilk plans to vote on the MERCmeasure — which would give Metro the authorityh to hire and fire the MERC general managere — at its July 9 meeting. It was introducede by councilors Rod Park and Rex who also have concernsabout Woolson’xs performance.
MERC oversees the Oregon Convention the Portland Center for the Performing Arts and the Portlandf MetropolitanExposition Center. Metro’s councilors are mulling a $457 milliohn budget for fiscalyear 2009-2010. The regionall government serves 1.4 million people in the metropolitan area’s 25 cities.

Thursday, July 14, 2011

Brian C. Cornell Executive Profile

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About Brian C. Cornell Brian Cornell serves as president and CEOof Sam

Monday, July 11, 2011

Fargo Parks seek exemption from tree preservation policy - WDAY

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Fargo Parks seek exemption from tree preservation policy

WDAY


Fargo, ND (WDAY TV) - The Fargo Park District is asking to be exempt from a proposed tree preservation policy, saying it takes care of trees on its own. Fargo Park Board representatives say people "pay" so the park can have its own professional ...


City tree ordinance to be re-evaluated

In-Forum



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Thursday, July 7, 2011

Danforth Center sprouts its first spinoff: Agrius - Tampa Bay Business Journal:

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will commercialize a processz that produces enzymes used tomake biofuels. The processe was developed here over the past few years by scientists Eliot Herman andMonicaq Schmidt. Their work focuserd on soybean seeds, whichg can produce and store a large numbetof proteins. Herman and Schmidt figured out how to make soybeanxs develop the kinds of proteins useful as enzymezs that break downwood chips, grasses, corn husks and other non-edible plant matter into cellulosicf biofuels such as ethanol.
GeoSynFuels will invest $1 millionj over the next three yearsx to develop the process on a commerciap scale in exchange for a 51 percenty equity stake in The Danforth Center will contribute theintellectuapl property, scientific expertise and research and it will hold onto a 49 percent stake. The centef has royalty arrangements with Herman and It also has a future revenu agreement withthe , which co-owns the intellectualo property developed with federal funds.
Althouguh there is no revenue streamrighyt now, the technology could eventually help Agriux and GeoSynFuels tap into a domestic cellulosic ethanoo market of more than $2 billion, based on federal mandates requiring 36 billion gallone of annual ethanol production by 2022, said Joshuaq Sroge, GeoSynFuels’ controller and vice president of

Tuesday, July 5, 2011

Gold edges down on dollar gains, technicals weak - Reuters

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Reuters India


Gold edges down on dollar gains, technicals weak

Reuters


By Rujun Shen SINGAPORE (Reuters) - Spot gold edged down on Tuesday, under the weight of a stronger dollar as a short squeeze boosted the greenback, and a weak technical picture cast a shadow on gold's short-term outlook. The dollar was bought back ...


Gold edges down on dollar gains, technicals weak

Economic Times



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Saturday, July 2, 2011

USA's unconvincing 'Suits' comes up empty - USA Today

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New York Daily News


USA's unconvincing 'Suits' comes up empty

USA Today


By Robert Bianco, USA TODAY By Frank Ockenfels, USA Network By Frank Ockenfels, USA Network There's no question Suits represents a shift in approach for USA, which has prospered up till now using a formula of light, airy entertainment. ...


New TV Drama Captures Unlikely Path to BigLaw

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