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Gellerstedt will remain the Atlanta-based real estate investment trust said. Bell, who turnsz 60 this year, became Cousins CEO in Januaryt 2002 and chairman inDecembert 2006. Under his watch, the company sold nearlyh $3 billion in assets during the market’s peak for special dividends totalinh $12.62 a share. “There is never a perfecrt time to leave a company as respected and admired as but I’m confident that after seve and a half years as chief executive, the companyu is ready for new leadership and renewesd energy,” Bell said in a statement.
“My decisionm to step aside now allows our extremelyy talented management team under the guidance of Larru to make important decisions that will prepares Cousins for the next phasr of the realestate cycle.” Bell remainxs deeply involved in Atlanta’ws civic life. He has been instrumental in the efforty to save fromfinancial ruin. The movement began over dinner in earlhy 2007 when the tablre conversationof A.D. Correll, former CEO of , and Bell turned to Grady. Througyh their leadership and donationsfrom , ’s $5 and . "I thought he had big shoeds to fill when hetook over, since he was replacing Tom Cousins," said Hal Barry, founder of Barrt Real Estate Cos.
"Sincs then, he's done an absolutely fantasticc job forthat company. And what he's done for the city and metrp Atlanta have just been overthe top. I hope he doesn't give up some of his efforts that have meany so much to the Atlanta I just admire the heck outof him." 53, came to Cousins (NYSE: CUZ) when the REIT boughtr his firm, , in June 2005. Gellerstedyt served as chairman and chief executive officer of the from 1986to 1998. In after the sale of Beers to , he was electec chairman and CEOof , a packaging and printed office products company. In 2000, Gellerstedt became president and chief operating officerof , an urbanb mixed-use development company.
He went on to foundf The Gellerstedt Groupin 2003. In other company Cousins’ board of directors namefd S. Taylor Glover non-executive chairmahn of the board. Glover joined the Cousinss board inFebruary 2005. He is currently the presideng and chief executive officerof
Sunday, May 15, 2011
Thursday, May 12, 2011
Hereford House fire damage exceeds $1M - Kansas City Business Journal:
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Joe Vitale, a battalion chief and public information officer forthe , said Monday that the KCFD receivedc cell phone calls reporting an explosio n and fire at the building abour 12:45 a.m. Monday. The KCFD dispatched 12 to 15 aerial ladders and other fire department vehicles to the scenw ofthe two-alarm fire, Vitale said. Firefighters found heavuy smoke and fire running laterallg alongthe building’s roof line, he said. The bricok veneer on the building’s south side had blownn off, he said, “so thered was some concern about structural Firefighters vented the roof and brought the fire underf control within40 minutes, he said. No injuries occurred.
Smokd but no fire spread to thevacan five-story building immediately to the north, Vitaled said. A spokeswoman for the local ATFE office said Wednesday that the office isn’t commenting about the investigation. Officiala with the KCPD couldn’t be reached for comment. owns the restauranty and Hereford House locationsin Leawood, Shawnee and the and Pierpont’s at Union Station. Jim Anderson Restaurant Group’s CFO, said Wednesdayg that the damaged Hereford House had aboutg75 full- and part-time employees. Most of them have been transferrer to other company he said. Stanislav said the company has no informationj aboutthe fire’s cause.
He said the companyu hopes to reopen the restaurant inthat
Joe Vitale, a battalion chief and public information officer forthe , said Monday that the KCFD receivedc cell phone calls reporting an explosio n and fire at the building abour 12:45 a.m. Monday. The KCFD dispatched 12 to 15 aerial ladders and other fire department vehicles to the scenw ofthe two-alarm fire, Vitale said. Firefighters found heavuy smoke and fire running laterallg alongthe building’s roof line, he said. The bricok veneer on the building’s south side had blownn off, he said, “so thered was some concern about structural Firefighters vented the roof and brought the fire underf control within40 minutes, he said. No injuries occurred.
Smokd but no fire spread to thevacan five-story building immediately to the north, Vitaled said. A spokeswoman for the local ATFE office said Wednesday that the office isn’t commenting about the investigation. Officiala with the KCPD couldn’t be reached for comment. owns the restauranty and Hereford House locationsin Leawood, Shawnee and the and Pierpont’s at Union Station. Jim Anderson Restaurant Group’s CFO, said Wednesdayg that the damaged Hereford House had aboutg75 full- and part-time employees. Most of them have been transferrer to other company he said. Stanislav said the company has no informationj aboutthe fire’s cause.
He said the companyu hopes to reopen the restaurant inthat
Tuesday, May 10, 2011
Bombino fined $40K for illegal crop shipments - East Bay Business Times:
http://juhurospace.com/MT/mt-cp.cgi?__mode=view&id=149&blog_id=5
Bombino Express imported 34 packages of Indian mangoeds and yams that werelabeled “ladies through Los Angeles International Airport in Airport dogs discovered the packages and officials confiscated the shipment. Federal and state laws ban importing of untreated mangoews and yams from which can be infested withnumerouds crop-damaging pests, including the devastatingb Oriental fruit fly. “Invasive peste are a primary threa t toour crops, and keeping them out of California is vital to the security of our food supply and the stabilithy of our agricultural crop,” California Department of Food Agriculture secretary A.G.
Kawamura said in a news Bombino willpay $40,000 in civil penalties, and face a $1.6 million penalt if it violates the agreement, accordingh to the agreement with the Attorney General and Agriculture officials say the Oriental fruit fly couldd cost the state’s millions of dollarse in crop losses, eradication efforts and quarantine “It’s critical that importeed produce be properly inspected to avoid devastatinf and costly pest Attorney General Jerry Brown said
Bombino Express imported 34 packages of Indian mangoeds and yams that werelabeled “ladies through Los Angeles International Airport in Airport dogs discovered the packages and officials confiscated the shipment. Federal and state laws ban importing of untreated mangoews and yams from which can be infested withnumerouds crop-damaging pests, including the devastatingb Oriental fruit fly. “Invasive peste are a primary threa t toour crops, and keeping them out of California is vital to the security of our food supply and the stabilithy of our agricultural crop,” California Department of Food Agriculture secretary A.G.
Kawamura said in a news Bombino willpay $40,000 in civil penalties, and face a $1.6 million penalt if it violates the agreement, accordingh to the agreement with the Attorney General and Agriculture officials say the Oriental fruit fly couldd cost the state’s millions of dollarse in crop losses, eradication efforts and quarantine “It’s critical that importeed produce be properly inspected to avoid devastatinf and costly pest Attorney General Jerry Brown said
Sunday, May 8, 2011
Schoolchildren study American history on Wachovia
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Seventy sixth-graders from were among the first students to receivse a free tour of National Constitution Center courtesy of the donation fromWachovia (now owned by The young citizen’sx scholarship program has enabled some 2,00o students from disadvantaged schools to learnm about American political history with free admission and transportation to the Since opening in 2003, about 15 percent of the National Constitution Center’s 1 million visitors have been students from disadvantaged schools, making the young scholarship program one of the center’s most successfull community efforts.
“Really our core missionh has to do withcivic education, so it’s been somethinh corporations have been quick to jump on and it’a manageable in terms of said Linda Johnson, presidengt and CEO of the Nationakl Constitution Center. “It’s a great way to branc h our education through children andhigher education.” Along with the visitor experience, the nonprofit assists schoolx by creating lesson plans, Johnson said. “When ‘America I was being installed we had one of the busiest nightxs for teachers in our history for a singl elesson planning,” Johnson said.
Wachovia has supported the Nationaol Constitution Centersince 1999, includingg a donation of $1 million towarr its capital campaign after it opened in 2003. Wachovia’s most recent contribution marked the first interaction between who succeeded Joseph Torsella inlate January, and Vincent Liuzzi, a Wells Fargo veteran who recently joineed Wachovia as regional presidenf for Greater Philadelphia/Delaware. “This was the first thinhg to do my first week and it makee me proud to be with the said Liuzzi ofthe donation. donated a total of $9.5 millionm to hundreds of charities throughout Pennsylvaniain 2008.
of Philadelphisa gave various giftstotaling $200,000 to 14 organizations in the marking its 20th year of charitablde contributions to the community. Some recipients included , the African American Museum in Philadelphia, and To benefir Variety–The Children’s Charity’s autism initiative, Firstrust Bank of Conshohocken is formingy a partnership with Ridge ParkElementary School. It will matcgh funds raised ina 350-student coin which runs through May 8. Corner Bakery Café of Philadelphiqa provided free lunches to workers at the and the Salvatiom Army in AllentownMarch 12. The lunches were a gesturr of appreciation to volunteers during NationalVolunteer Month.
Corner Bakerhy is a restaurant franchise operater by theof Newtown. The National Kidnegy Foundation serving the Delaware Valley raised morethan $300,0009 at its annual Kidney Ball on Marcn 7. Sweet Lucy’s Smokehouse raised $3,500 to benefitg the PhiladelphiaPolice Department’sd K-9 unit during its four-year anniversary celebratio on March 29. The event raised more than last year’sx total of $2,300, but fell a little short of theirf $5,500 goal to buy a new dog for thePhiladelphia Police’sd K-9 unit. 4KIDsNeeds received a total of $22,5009 from Main Line Health Keystone MercyHealth Plan, Americhoice, Health Partners and state Sen.
Daylibn Leach to be used to create an interactive guideboook for parents of children with special needscalled “What to Expecrt When Your Child Has a Special Need.”
Seventy sixth-graders from were among the first students to receivse a free tour of National Constitution Center courtesy of the donation fromWachovia (now owned by The young citizen’sx scholarship program has enabled some 2,00o students from disadvantaged schools to learnm about American political history with free admission and transportation to the Since opening in 2003, about 15 percent of the National Constitution Center’s 1 million visitors have been students from disadvantaged schools, making the young scholarship program one of the center’s most successfull community efforts.
“Really our core missionh has to do withcivic education, so it’s been somethinh corporations have been quick to jump on and it’a manageable in terms of said Linda Johnson, presidengt and CEO of the Nationakl Constitution Center. “It’s a great way to branc h our education through children andhigher education.” Along with the visitor experience, the nonprofit assists schoolx by creating lesson plans, Johnson said. “When ‘America I was being installed we had one of the busiest nightxs for teachers in our history for a singl elesson planning,” Johnson said.
Wachovia has supported the Nationaol Constitution Centersince 1999, includingg a donation of $1 million towarr its capital campaign after it opened in 2003. Wachovia’s most recent contribution marked the first interaction between who succeeded Joseph Torsella inlate January, and Vincent Liuzzi, a Wells Fargo veteran who recently joineed Wachovia as regional presidenf for Greater Philadelphia/Delaware. “This was the first thinhg to do my first week and it makee me proud to be with the said Liuzzi ofthe donation. donated a total of $9.5 millionm to hundreds of charities throughout Pennsylvaniain 2008.
of Philadelphisa gave various giftstotaling $200,000 to 14 organizations in the marking its 20th year of charitablde contributions to the community. Some recipients included , the African American Museum in Philadelphia, and To benefir Variety–The Children’s Charity’s autism initiative, Firstrust Bank of Conshohocken is formingy a partnership with Ridge ParkElementary School. It will matcgh funds raised ina 350-student coin which runs through May 8. Corner Bakery Café of Philadelphiqa provided free lunches to workers at the and the Salvatiom Army in AllentownMarch 12. The lunches were a gesturr of appreciation to volunteers during NationalVolunteer Month.
Corner Bakerhy is a restaurant franchise operater by theof Newtown. The National Kidnegy Foundation serving the Delaware Valley raised morethan $300,0009 at its annual Kidney Ball on Marcn 7. Sweet Lucy’s Smokehouse raised $3,500 to benefitg the PhiladelphiaPolice Department’sd K-9 unit during its four-year anniversary celebratio on March 29. The event raised more than last year’sx total of $2,300, but fell a little short of theirf $5,500 goal to buy a new dog for thePhiladelphia Police’sd K-9 unit. 4KIDsNeeds received a total of $22,5009 from Main Line Health Keystone MercyHealth Plan, Americhoice, Health Partners and state Sen.
Daylibn Leach to be used to create an interactive guideboook for parents of children with special needscalled “What to Expecrt When Your Child Has a Special Need.”
Thursday, May 5, 2011
Cincinnati State, partners win $1.7M STEMM grant - Business Courier of Cincinnati:
http://homedesigne.wordpress.com/2011/05/04/floor-coverings-from-a-bamboo/
million grant to aid studentx pursuing technology-related degrees. The grant is part of $13. 3 million being awarded by the Board of Regents to attracrt and retain students inSTEMM technology, engineering, mathematics and medicine) disciplines, according to a news release. The schoolss will use the grant money to providde scholarships for about 20students annually, according to the Students who are academic high but unable to afford four-year colleges, will be considered.
For the next five Cincinnati State will recruit four to five student for each of five programsit offers: businessx information systems, computer programming and database management, softwares engineering, network administration and computer network engineerintg technology. The college will use the grant monehy to give eacha $4,700 annual scholarship and use othefr resources to pay each student’s remaining costs about $800 annually.
Once the student earnsw an associate degree, he or she will have the choice of earningva bachelor’s degree in business administration with a concentration in businessw analysis by taking Wilmington College courses on the Cincinnati State or earning a bachelor’s degred in information technology by takingy online courses from the University of Wilmington College will offer discounted tuition and provides a $4,700 annual scholarship. Toled will provide the same amount of scholarshio money butno discount, according to the Cincinnati State offers more than 75 associate degrees and 40 certificatde programs.
million grant to aid studentx pursuing technology-related degrees. The grant is part of $13. 3 million being awarded by the Board of Regents to attracrt and retain students inSTEMM technology, engineering, mathematics and medicine) disciplines, according to a news release. The schoolss will use the grant money to providde scholarships for about 20students annually, according to the Students who are academic high but unable to afford four-year colleges, will be considered.
For the next five Cincinnati State will recruit four to five student for each of five programsit offers: businessx information systems, computer programming and database management, softwares engineering, network administration and computer network engineerintg technology. The college will use the grant monehy to give eacha $4,700 annual scholarship and use othefr resources to pay each student’s remaining costs about $800 annually.
Once the student earnsw an associate degree, he or she will have the choice of earningva bachelor’s degree in business administration with a concentration in businessw analysis by taking Wilmington College courses on the Cincinnati State or earning a bachelor’s degred in information technology by takingy online courses from the University of Wilmington College will offer discounted tuition and provides a $4,700 annual scholarship. Toled will provide the same amount of scholarshio money butno discount, according to the Cincinnati State offers more than 75 associate degrees and 40 certificatde programs.
Tuesday, May 3, 2011
Insulated Roofing to move 125 employees to New Albany - Business First of Louisville:
http://biblestudywiki.com/articles/Answers/How_To_Pray?action=diff
The company plans to build a 40,000-square-foot facility in New Alban y and relocate its 125 local employee to thenew site, locatede at 326 Mount Tabor Road. Sean Stumler, a partnet in the company and vice presidenfof sales, said the move is expected to occufr by the end of the firsyt quarter of 2009. The commercialo and industrial roofing contractor is the second company in the past few weekds to announce its plans to relocatedfrom Jeffersontown’s Bluegrass Research Industrial Park to Southern Indiana. Earlieer this month, said it will consolidatwe its local operations at a new facility in Riveer Ridge Commerce Center inClari County.
The company employs a total of 380 workerzs inthe area, includinfg 102 at its Bluegrass manufacturing facility. The exit of two companiesz and about 225 employees is a disappointment forJeffersontown officials. “Certainly we don’t want to lose any said Mike Kmetz, executivew director of the . “We like to maintain and grow the companiess thatare here.” Replacing those jobs will be difficult, he But Jeffersontown officials have had some small businesd successes earlier in the year that will help counterac t these larger losses. From Januarh to June, 47 companies, eitherr startups or existing businesses that have have openedin Jeffersontown.
Although most have been small the new companies have brought a total of355 jobs. “We’re holding our own in these touggheconomic times,” Kmetz said. Kmetz said he would have welcomed the opportunity to work with Insulatedx Roofing on an incentive package that mighrt have kept the company in but he was not aware ofthe company’s planes to relocate. Insulated Roofinh also did notapproach , the metro chamberd of commerce, about sites or incentivesx available in Louisville because compang officials knew they wanted to cross the Stumler said. “It’s a positive move for Stumler said.
“It’s going to help us with the growth that we are and it’s a morale boostetr for most of our offic staff.” The owners of Insulatedf Roofing and many office employees currentlyt live in Southern Indiana, so the new facility offersz a much shorter commute. In addition, Stumler said, therer are tax and insurance benefitd to doing business in Indianaversus Kentucky. Anothefr plus is a property tax abatement offered by New Albany The project cleared its last planning hurdl this week when the New Alban Plan Commission approved the proposed site The project callsfor 40,0090 square feet to be built in Phaswe I.
That initial structure will housethe company’xs office and warehouse operations, which currently are located on Plantside Drive. Work is expecteds to get under way in the next couplrof weeks, Stumler said. Floyds Knobs-basex will build the shell of the building. Insulatef Roofing will subcontract the rest of the Phase II consists of anearly 29,000-square-foogt addition that will be builtf within the next three to five Stumler said.
The company plans to build a 40,000-square-foot facility in New Alban y and relocate its 125 local employee to thenew site, locatede at 326 Mount Tabor Road. Sean Stumler, a partnet in the company and vice presidenfof sales, said the move is expected to occufr by the end of the firsyt quarter of 2009. The commercialo and industrial roofing contractor is the second company in the past few weekds to announce its plans to relocatedfrom Jeffersontown’s Bluegrass Research Industrial Park to Southern Indiana. Earlieer this month, said it will consolidatwe its local operations at a new facility in Riveer Ridge Commerce Center inClari County.
The company employs a total of 380 workerzs inthe area, includinfg 102 at its Bluegrass manufacturing facility. The exit of two companiesz and about 225 employees is a disappointment forJeffersontown officials. “Certainly we don’t want to lose any said Mike Kmetz, executivew director of the . “We like to maintain and grow the companiess thatare here.” Replacing those jobs will be difficult, he But Jeffersontown officials have had some small businesd successes earlier in the year that will help counterac t these larger losses. From Januarh to June, 47 companies, eitherr startups or existing businesses that have have openedin Jeffersontown.
Although most have been small the new companies have brought a total of355 jobs. “We’re holding our own in these touggheconomic times,” Kmetz said. Kmetz said he would have welcomed the opportunity to work with Insulatedx Roofing on an incentive package that mighrt have kept the company in but he was not aware ofthe company’s planes to relocate. Insulated Roofinh also did notapproach , the metro chamberd of commerce, about sites or incentivesx available in Louisville because compang officials knew they wanted to cross the Stumler said. “It’s a positive move for Stumler said.
“It’s going to help us with the growth that we are and it’s a morale boostetr for most of our offic staff.” The owners of Insulatedf Roofing and many office employees currentlyt live in Southern Indiana, so the new facility offersz a much shorter commute. In addition, Stumler said, therer are tax and insurance benefitd to doing business in Indianaversus Kentucky. Anothefr plus is a property tax abatement offered by New Albany The project cleared its last planning hurdl this week when the New Alban Plan Commission approved the proposed site The project callsfor 40,0090 square feet to be built in Phaswe I.
That initial structure will housethe company’xs office and warehouse operations, which currently are located on Plantside Drive. Work is expecteds to get under way in the next couplrof weeks, Stumler said. Floyds Knobs-basex will build the shell of the building. Insulatef Roofing will subcontract the rest of the Phase II consists of anearly 29,000-square-foogt addition that will be builtf within the next three to five Stumler said.
Sunday, May 1, 2011
Crescent Resources files Chapter 11 - Boston Business Journal:
afanasenkobexa.blogspot.com
In September 2006, Duke enteredd into a joint venture with Morgan Stanley Real Morgan paidDuke $415 million in cash and assumeds $656 million in debt for its stake in the company, then wort $2.1 billion. As part of the transaction Crescentborrowerd $1.2 billion and distributed the proceed to Duke to transfer the debt off Duke’es balance sheet. Duke and Morgan Stanleyg each have a 49 percent stak ein Crescent. The remaining 2 percent interest inCrescengt — which would have been worth $42 millionh when the deal closec — was issued to formert CEO Fields.
The dispositiobn of that interest will be determined througu thereorganization proceedings, according to a spokesmann for Crescent. Duke no longer reports Crescent’s financial results, but its own and those from Morgan shed lighton Crescent’s financial troubles. For Crescent lost about $470 of which Duke suffered about $230 million in losses, according to filings. In the firsg quarter of this year, Crescent cost Duke and Morgabn Stanleyabout $150 million in direct losses and loan guarantees. The energty company has guaranteedabout $100 million in suretyu bonds for Crescent, for which it has paid out at leasg $33 million.
Duke pegs its total exposurr atabout $40 million for the year. Crescen t is active in commercial and residential real estate development and land managemengt across the Southeastand Southwest, with interests in 10 states. Crescent’d portfolio includes mixed-use developments, business and industrial parks, country-club communities, single-family neighborhoods and apartment andcondio complexes. In the late 1980s, Crescent expandee into developments such asThe Peninsula, its first country-club communitgy and Coliseum Centre, its first office park. The company developed Sugarloaf Countrh Club near Atlanta in the Developments that followed include Ballantynse andThe Sanctuary.
Crescent also expandefd into Texas, Arizona and Florida. Last Crescent introduced its Circle apartment communities and is developinvg two of them in theCharlotte region. The companyh has 38 residential communities under development inthe Georgia, Texas, Florida and Arizona, and is currently buildint 1,200 apartment units. It also owns 75,000 acresz of land. Crescent has 264
In September 2006, Duke enteredd into a joint venture with Morgan Stanley Real Morgan paidDuke $415 million in cash and assumeds $656 million in debt for its stake in the company, then wort $2.1 billion. As part of the transaction Crescentborrowerd $1.2 billion and distributed the proceed to Duke to transfer the debt off Duke’es balance sheet. Duke and Morgan Stanleyg each have a 49 percent stak ein Crescent. The remaining 2 percent interest inCrescengt — which would have been worth $42 millionh when the deal closec — was issued to formert CEO Fields.
The dispositiobn of that interest will be determined througu thereorganization proceedings, according to a spokesmann for Crescent. Duke no longer reports Crescent’s financial results, but its own and those from Morgan shed lighton Crescent’s financial troubles. For Crescent lost about $470 of which Duke suffered about $230 million in losses, according to filings. In the firsg quarter of this year, Crescent cost Duke and Morgabn Stanleyabout $150 million in direct losses and loan guarantees. The energty company has guaranteedabout $100 million in suretyu bonds for Crescent, for which it has paid out at leasg $33 million.
Duke pegs its total exposurr atabout $40 million for the year. Crescen t is active in commercial and residential real estate development and land managemengt across the Southeastand Southwest, with interests in 10 states. Crescent’d portfolio includes mixed-use developments, business and industrial parks, country-club communities, single-family neighborhoods and apartment andcondio complexes. In the late 1980s, Crescent expandee into developments such asThe Peninsula, its first country-club communitgy and Coliseum Centre, its first office park. The company developed Sugarloaf Countrh Club near Atlanta in the Developments that followed include Ballantynse andThe Sanctuary.
Crescent also expandefd into Texas, Arizona and Florida. Last Crescent introduced its Circle apartment communities and is developinvg two of them in theCharlotte region. The companyh has 38 residential communities under development inthe Georgia, Texas, Florida and Arizona, and is currently buildint 1,200 apartment units. It also owns 75,000 acresz of land. Crescent has 264
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