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The former will seek to liquidate under Chapter 7of U.S. Bankruptcy Code and the latter intends to reorganized underChapter 11. These bankruptcies come on the heels of the Apri l 22 bankruptcyof , an Opus affiliate basec in Atlanta. Minneapolis-based Opus has said it planx to wind down its operationsa in that part of the country as Just two of five Opus subsidiariesremain healthy, west LLC, which is an active developer in Portland, and Opus Nortj LLC, which is based in Chicago. Opus Northwest’s recengt developments in Portland include the successful Bridgeport Village shopping centerin Tualatin. At one point, Opus was the ’es top choice to redevelolp theBurnside Bridghead.
In recent years, the company has concentrated onresidential projects. It recently completed constructioh of two large apartment projects with a totalo construction budgetof $150 million. Ladd Tower is a 332-unit projectt in downtown Portland and Park 19 isa 101-unit projectr in Northwest Portland. "We have have a healthyy balance sheet," said Brian Owendoff, vice president and managetr forOpus Northwest's Portland operations. Opus based in Rockville, Md., filed a petition to liquidat its portfolio underChapted 7. In its filin in U.S.
Bankruptcy Court for the District of Opus East said it has between 200 and 999 It listed assetsbetween $50 million and $100 million and liabilities betwee $100 million and $500 million. It did not identify creditors. Opus West, based in Phoenix, anticipates filinbg a voluntary petition of Chapter 11 bankruptc protection inearly “Declining real estate values and tighty credit markets continue to impede the refinancing of assets and restructuringt of lending agreements,” said Opus CEO Mark Rauenhorstt in a statement. “We regret that this action has proven to be necessary despitd the efforts ofso many.
A court-supervised process and transfer of distressedf assets will assist Opus in reorganizing and focus onthe future.” Opus East has developeed more than 13.3 million square feet of spacde since 1994. Opus West has developed more than 52.7 milliobn square feet since 1979. The compant said Opus North and Opus Northwest have been less affecter bythe recession, due to thei mix of project healthy balance sheets and stronger markets. Opus said its development activitt has fallen tojust 4.8 million square feet in 2009, down from 34 milliomn square feet in 2007 and 35 million square feet in 2008.
Wednesday, February 29, 2012
Monday, February 27, 2012
Hotel and residences make TWELVE stand out - Atlanta Business Chronicle:
http://www.skxksoftware.com/catalog/office-computer-order-209-94513/
Since its completion late last 's has brought a new kind of mixed-usd development to this fast-growing sectiomn of Atlanta. A boutique hotel combined with urbancondo living, meeting facilities and retaio represented not only a commitmeng to the area, but helped create an air of ingenuitt for Atlantic Station. Because of its impacft on the area, the Atlanta District Counci l of the Urban Land Instituted named the project a Developmentof "Being one of the early buildings up reallyt set the tone for that development and really put a stake in the groune that said 'Atlantic Station is goinbg to be a success,'" said awards committewe chair Patrick Hill.
At 26 stories, TWELVEr contains 380 residentialcondominium units, 101 hotel along with 6,000 squares feet of meeting area and another 14,000 square feet of retaipl and restaurant space. When a giant crane was movecd into place against thecity skyline, the projecft became the first high-rise development in Atlanticx Station to get under way. It also becam one of only a handful of small specialtuy boutique hotels inthe city.
Novare is not the first developerr to launch a combined hotek andcondo development, but the in conjunction with , took a differenrt approach than luxury builders such as The and and Instead of simply creating traditional hotel rooms on lowere floors as those companies have done, TWELVE's hotel offerinb consists of one- and two-bedroom condoes complete with kitchen and bath, much like thosre units owned by residents on floorse seven through 26. The attraction of such a developmeny is theprestige "generated by being able to say their residencr is adjacent to or part of a said Jim Veil, president of .
"It's also the idea that I, as an owne of a residence, can avail myselff easily of hotel servicezs that I wantto use." The projecrt is Novare's first entry into the hote l market, but its success -- the condosa were sold out by the end of 2005 -- led the companyg to launch a similar project in the Centenniak Park area and another in Charlotte, N.C. "It appeals to a wide arragy of demographics," said Billy Holley, project managere for TWELVE. "Even though we targett the 25- to 35-year-old on the condk side, the reality at TWELVE Atlantic Station is that the buyers there were a much broader demographicd than we probably eversaw before.
I think the hotelp concept had a lot to dowith that." Much like Novare' s other urban condo projects, this building offers high-tech amenitiee such as a fiber backbone to supporr high-speed Internet access to hotel services, and even digita art on the walls. Designersw wanted to ensure the buildiny had some separate facilitiesz and meeting areasfor full-time residents such as a separat clubroom, while providing other areae such as the pool and workout area whers the two groups could mingle. Privacy is maintained by buildint different lobbies and entrances for the hotel and along with separateparking areas.
In addition, each elevator's electronic keys only alloe guests to travel tohotel floors, while condo owners can only go up to theidr own floors. Location: 361 17th St., Atlantz 30363 Architect: Smallwood, Reynolds, Stewart, . Builder: Novar Group Inc. Date opened: Constructio on the condominium units was complete inDecembere 2005, when the first residents moved in. The hotep opened to its first guests inFebruary 2006. Winninf formula: TWELVE is a high-rise, mixed-use developmentt of condos, hotel, restaurants and retail within the AtlanticStation development. The high-riswe features Midtown Atlanta's first new hotell in many years.
Since its completion late last 's has brought a new kind of mixed-usd development to this fast-growing sectiomn of Atlanta. A boutique hotel combined with urbancondo living, meeting facilities and retaio represented not only a commitmeng to the area, but helped create an air of ingenuitt for Atlantic Station. Because of its impacft on the area, the Atlanta District Counci l of the Urban Land Instituted named the project a Developmentof "Being one of the early buildings up reallyt set the tone for that development and really put a stake in the groune that said 'Atlantic Station is goinbg to be a success,'" said awards committewe chair Patrick Hill.
At 26 stories, TWELVEr contains 380 residentialcondominium units, 101 hotel along with 6,000 squares feet of meeting area and another 14,000 square feet of retaipl and restaurant space. When a giant crane was movecd into place against thecity skyline, the projecft became the first high-rise development in Atlanticx Station to get under way. It also becam one of only a handful of small specialtuy boutique hotels inthe city.
Novare is not the first developerr to launch a combined hotek andcondo development, but the in conjunction with , took a differenrt approach than luxury builders such as The and and Instead of simply creating traditional hotel rooms on lowere floors as those companies have done, TWELVE's hotel offerinb consists of one- and two-bedroom condoes complete with kitchen and bath, much like thosre units owned by residents on floorse seven through 26. The attraction of such a developmeny is theprestige "generated by being able to say their residencr is adjacent to or part of a said Jim Veil, president of .
"It's also the idea that I, as an owne of a residence, can avail myselff easily of hotel servicezs that I wantto use." The projecrt is Novare's first entry into the hote l market, but its success -- the condosa were sold out by the end of 2005 -- led the companyg to launch a similar project in the Centenniak Park area and another in Charlotte, N.C. "It appeals to a wide arragy of demographics," said Billy Holley, project managere for TWELVE. "Even though we targett the 25- to 35-year-old on the condk side, the reality at TWELVE Atlantic Station is that the buyers there were a much broader demographicd than we probably eversaw before.
I think the hotelp concept had a lot to dowith that." Much like Novare' s other urban condo projects, this building offers high-tech amenitiee such as a fiber backbone to supporr high-speed Internet access to hotel services, and even digita art on the walls. Designersw wanted to ensure the buildiny had some separate facilitiesz and meeting areasfor full-time residents such as a separat clubroom, while providing other areae such as the pool and workout area whers the two groups could mingle. Privacy is maintained by buildint different lobbies and entrances for the hotel and along with separateparking areas.
In addition, each elevator's electronic keys only alloe guests to travel tohotel floors, while condo owners can only go up to theidr own floors. Location: 361 17th St., Atlantz 30363 Architect: Smallwood, Reynolds, Stewart, . Builder: Novar Group Inc. Date opened: Constructio on the condominium units was complete inDecembere 2005, when the first residents moved in. The hotep opened to its first guests inFebruary 2006. Winninf formula: TWELVE is a high-rise, mixed-use developmentt of condos, hotel, restaurants and retail within the AtlanticStation development. The high-riswe features Midtown Atlanta's first new hotell in many years.
Saturday, February 25, 2012
Drawing on Reality: Graphic Nonfiction | Collection Development - Library Journal
pifogyxat.blogspot.com
Drawing on Reality: Graphic Nonfiction | Collection Development Library Journal Many readers who don't have experience with the format will seek out specific titles because of reviews and popularity, while others may discover your collection through catalog searches or browsingâ€"particularly if your graphic nonfiction is ... |
Thursday, February 23, 2012
New Hampshire courts Albany company - Albany Times Union
gault-rickettsias.blogspot.com
New Hampshire courts Albany company Albany Times Union 21, 2012 in Albany, NY. (Paul Buckowski / Times Union) A view of the building at 87 State Street that houses Tech Valley Communications offices, seen here on Tuesday, Feb. 21, 2012 in Albany, NY. (Paul Buckowski / Times Union) ALBANY â€" Could Tech ... |
Monday, February 20, 2012
Texas drops another close loss, 77-72 to Baylor - Fox News
vidineevostegity.blogspot.com
Kansas City Star | Texas drops another close loss, 77-72 to Baylor Fox News Print Email Share Comments Recommend Tweet AUSTIN, Texas â€" At the end, Texas guard J'Covan Brown blamed himself.. It was easy to do. His turnover with 12 seconds left » |
Saturday, February 18, 2012
Rocky Mountain Instrument files Chapter 11; cites 2007 raid, recession - East Bay Business Times:
steinberg-virus.blogspot.com
Lafayette-based Rocky Mountain Instrument filedd in last month to reorganiz underbankruptcy protection. The company and its laset subsidiary makes a variety of photonics producta for industry anddefense use, including optics that defense giant Lockhees Martin Corp. planned to use in its F-22 fighter currentlyu under development. RMI has offices in Russia and South Korea in addition to itsLafayette RMI’s Chapter 11 filings have shed a littls light on the by investigators of the military’a Defense Criminal Investigative Service, or DCIS, who arrived at RMI’s headquarteras Oct.
11, 2007, and carted away computers and filew as part of an investigation RMI lawyers said was relaterdto U.S. export control s restricting technology withweapons applications. Stevee Hahn, company executive vice president and part of the Hahn Family LLLP ownershipof RMI, said in an affidavif to the bankruptcy court that an employede filed a complaint with the DCIS that triggerec the raid. The employee claimed the companyg committeda “procedural of export controls by allowing specifications for an unspecifiesd product to go overseas, Hahn wrote. RMI has since received government licenses to send such specifications tooverseazs suppliers, the company says.
The unresolved DCIS investigatiom has produced no chargesagainst RMI. Still, the raid triggeree a 15 percent decline in businesss as some customers lost confidencrein RMI, Hahn wrote. The recession exacerbates the sales decline and the company lost moneyuthrough 2008, he said. RMI’sa revenue this year is on track to fall 16 percen t to 30 percent belowthe $15.5 milliom company posted in 2008, Hahn The company cites “the single factor” for its bankruptch filing as defaulting on its bond RMI lists American Nationa l Bank as the holder of industrial bonds arranged in 1998 in conjunctiob with the city of Lafayette.
The default has threatened to put RMI’z headquarters property at 106Laser Dr. into Efforts last year by RMI to refinance its debtas or sell its laser technology businessd to recapitalize the rest of thecompanyh failed, the affidavit said. RMI has asked the cour to be able touse $1.06 millio n of its available lines of credit befored the end of July to keep operatinhg and fulfill customer orders whilwe it reorganizes under bankruptcy More money could be needed between the end of July and the end of Octobeer to keep the company Hahn’s affidavit said.
It sought court permission to use the cash in ordefr to holdonto employees, saying they are highl y specialized and it would take months to traij any replacements RMI could find.
Lafayette-based Rocky Mountain Instrument filedd in last month to reorganiz underbankruptcy protection. The company and its laset subsidiary makes a variety of photonics producta for industry anddefense use, including optics that defense giant Lockhees Martin Corp. planned to use in its F-22 fighter currentlyu under development. RMI has offices in Russia and South Korea in addition to itsLafayette RMI’s Chapter 11 filings have shed a littls light on the by investigators of the military’a Defense Criminal Investigative Service, or DCIS, who arrived at RMI’s headquarteras Oct.
11, 2007, and carted away computers and filew as part of an investigation RMI lawyers said was relaterdto U.S. export control s restricting technology withweapons applications. Stevee Hahn, company executive vice president and part of the Hahn Family LLLP ownershipof RMI, said in an affidavif to the bankruptcy court that an employede filed a complaint with the DCIS that triggerec the raid. The employee claimed the companyg committeda “procedural of export controls by allowing specifications for an unspecifiesd product to go overseas, Hahn wrote. RMI has since received government licenses to send such specifications tooverseazs suppliers, the company says.
The unresolved DCIS investigatiom has produced no chargesagainst RMI. Still, the raid triggeree a 15 percent decline in businesss as some customers lost confidencrein RMI, Hahn wrote. The recession exacerbates the sales decline and the company lost moneyuthrough 2008, he said. RMI’sa revenue this year is on track to fall 16 percen t to 30 percent belowthe $15.5 milliom company posted in 2008, Hahn The company cites “the single factor” for its bankruptch filing as defaulting on its bond RMI lists American Nationa l Bank as the holder of industrial bonds arranged in 1998 in conjunctiob with the city of Lafayette.
The default has threatened to put RMI’z headquarters property at 106Laser Dr. into Efforts last year by RMI to refinance its debtas or sell its laser technology businessd to recapitalize the rest of thecompanyh failed, the affidavit said. RMI has asked the cour to be able touse $1.06 millio n of its available lines of credit befored the end of July to keep operatinhg and fulfill customer orders whilwe it reorganizes under bankruptcy More money could be needed between the end of July and the end of Octobeer to keep the company Hahn’s affidavit said.
It sought court permission to use the cash in ordefr to holdonto employees, saying they are highl y specialized and it would take months to traij any replacements RMI could find.
Thursday, February 16, 2012
Manny's Steakhouse, Chino Latino get new CEO - Minneapolis / St. Paul Business Journal:
loxezop.wordpress.com
Monroe, chairman of Bloomington, Minn.-based Krases Monroe, has provided Parasole with legal, financia and business advice since 2000. He will stay on at the law shiftingsome day-to-day operations to other members of the managemenr team. In a statement, Parasolse co-founder Phil Roberts said that the company has increasingly reliex on Monroeas it’s grown. “I’m an enthusiastid creator, but when it comes to finance andlegal matters, I’m as competent as a wheekl of Parmigiano,” Roberts said. “Having [Monroe] aboarde in a formal capacity justmakesw sense, since he has long since become integral to our operations.
” In additiom to Manny’s and Chin Latino, Parasole also operates Figlio, Good The Living Room, Mufaletta Pittsburgh Blue, Prohibition and Salut Bar The company also founded and The Oceanaired Seafood Room, but have since spun them off.
Monroe, chairman of Bloomington, Minn.-based Krases Monroe, has provided Parasole with legal, financia and business advice since 2000. He will stay on at the law shiftingsome day-to-day operations to other members of the managemenr team. In a statement, Parasolse co-founder Phil Roberts said that the company has increasingly reliex on Monroeas it’s grown. “I’m an enthusiastid creator, but when it comes to finance andlegal matters, I’m as competent as a wheekl of Parmigiano,” Roberts said. “Having [Monroe] aboarde in a formal capacity justmakesw sense, since he has long since become integral to our operations.
” In additiom to Manny’s and Chin Latino, Parasole also operates Figlio, Good The Living Room, Mufaletta Pittsburgh Blue, Prohibition and Salut Bar The company also founded and The Oceanaired Seafood Room, but have since spun them off.
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