loxezop.wordpress.com
Association members sold 1,854 existing homess last month, or 38 percent more than April and 44 percentr more than the same monthlast year. Of the homesd sold in May, 795 were bank-repossessed propertiex and another 150were distressed. Those saless have driven down the median home pricw in Mayto $130,000, a 38.5 perceng decrease. The median price for a traditionall home resalewas $165,000, $82,000 for bank-owned resales and $140,000 for distresseds sales. Meanwhile, sales of existing homes in Orange, Osceola and Seminole countiexs was up 44 percentlast month. There were 2,40o0 home resales in the Orlando area, compared to the 1,6623 sold in May 2008.
Through May, 10,005 homexs have be sold, 51.7 percenrt more than the 6,595 sold during the same period last Along withincreased sales, more than double the number of home s awaited closings in May, an indicator of an improvintg market, the report said. Ther e were 6,603 pending contracts last month, which comparess with 3,225 in the same montuh last yearand 3,455 homes came under contracyt in May 2009. Orlando area condo resaleas was 369in May, more than double May 2008’as 142 unit sales. The majority of those 198 units, were priced at $50,000o or less. The report said 156 duplex, townhome, and villw units sold in May, a nearlyg 36 percent increase fromMay 2008’a 115.
Most of those sales, 29 units, sold in the $100,000-$120,00o0 price category. Orlando’s affordabilit index is at nearly 198, whic means that buyers earningthe state-reportedx median income of $52,364 can qualifyg to purchase homes priced up to The first-time homebuyer affordability in Orlando is 140.6 which means first-time homebuyers who earn the reported median income of $35,608 can qualify to purchase a home listerd for $155,306 or less. All homes were on the marke for an average of 104 days before sellint inMay 2009. The average home sold for 94 percent of itslistinb price.
There were 19,1243 homes for sale through the Multiple Listing Serviceslast month, down 1,071 homes from April 2009. The May inventoryg level is nearly 24 percent lowerthan 25,014 available in May 2008. The May 2009 inventory reflectaa 10.31-month supply at the currenr sales pace.
Tuesday, August 30, 2011
Sunday, August 28, 2011
Architects find big ticket projects in schools
paramonaxogilozi.blogspot.com
Several area schools have recentlyg completed or are currently workingon outdoor, multi-sporrt athletic facilities with countless features and Schools such as , , , and all have outdoor athletic and recreatiomn complexes for their students. On the collegee front, opened the $1.7 million Lady Tige r Stadium for its softball team in 2007 and anew $3 millioj baseball stadium project, funded by , is currentlyt under construction. Likewise, completed renovations of its baseball facility inAugust 2008.
There is more to building these stadiums than merely sowing grasas and settingup bleachers, and architectsx play a large role in turninfg the respective schools’ goals into viable Architects must make sure new building mesh with the designs and architecture of the otherf buildings on campus. They must also ensurw proper sightlines for fans and allow for prope vehicle and pedestrian traffic flow in and out of the saysBob Land, architecrt for , Inc. His firm designesd St. George’s complex, which is used by both the upperd andmiddle school.
The football, soccer, lacrosser and track and field facilities are beintg built in stages while the schoo l acquires the funding tocomplete construction. “Flexibilityy was one of their requirements,” Land says. Land says the stadiumn will feature concessions, restroom buildings and locker rooms underthe bleachers. The field is sunk down so the buildingw will be in compliance withthe 100-Yead Flood Plan and also to allow for better sightlines for the “Parents volunteering can still see their kids playing,” he St. George’s also implemented stadium lights, whichy Land says have become commonplace, that use 60% less energgy than traditionalstadium lighting.
MUS built its $3.7 million multi-sport stadium in 2007, whicuh replaced the 40-year-old, 500-seat aluminunm bleacher facility which athletic director Bobbyt Alston says wasbecoming unsafe. “We were looking to build somethint that had better sightlines to the field and was up to date as far as the prese box area and those type of thingsare concerned,” Alstohn says. Metcalf Crump, president of , Inc., and a MUS designed the new complex whichseats 1,400 and features a synthetix turf playing surface, track and field restrooms and ticket and memorabiliwa sales areas. The new grandstandr also features apress box, video coaches’ box and a “VIPo suite.
” Crump, whose firm also designef outdoor sports facilities for PDS and , says it was challengingy to design MUS’s new stadium within the confinexs of the school’s existing infrastructure and “The site itself was very squeezed between sloped terrain at the edge of the trackl and two large, 50-foot pylons supportingf flood lights for the fields,” Crump “Moving these tall light poles woulcd be an expense we all wanted to We solved this problemm by designing the new stadium partly around the , was the contractor for the MUS project, through some design tweaks, actually ended up costing $300,000 less than the proposed budget. The mastef plan for St.
George’s athletic facility will ultimatelh require morethan $4.7 million to complete. So far, the schookl has raised $1.5 says Sarah Cowan, director of communications.
Several area schools have recentlyg completed or are currently workingon outdoor, multi-sporrt athletic facilities with countless features and Schools such as , , , and all have outdoor athletic and recreatiomn complexes for their students. On the collegee front, opened the $1.7 million Lady Tige r Stadium for its softball team in 2007 and anew $3 millioj baseball stadium project, funded by , is currentlyt under construction. Likewise, completed renovations of its baseball facility inAugust 2008.
There is more to building these stadiums than merely sowing grasas and settingup bleachers, and architectsx play a large role in turninfg the respective schools’ goals into viable Architects must make sure new building mesh with the designs and architecture of the otherf buildings on campus. They must also ensurw proper sightlines for fans and allow for prope vehicle and pedestrian traffic flow in and out of the saysBob Land, architecrt for , Inc. His firm designesd St. George’s complex, which is used by both the upperd andmiddle school.
The football, soccer, lacrosser and track and field facilities are beintg built in stages while the schoo l acquires the funding tocomplete construction. “Flexibilityy was one of their requirements,” Land says. Land says the stadiumn will feature concessions, restroom buildings and locker rooms underthe bleachers. The field is sunk down so the buildingw will be in compliance withthe 100-Yead Flood Plan and also to allow for better sightlines for the “Parents volunteering can still see their kids playing,” he St. George’s also implemented stadium lights, whichy Land says have become commonplace, that use 60% less energgy than traditionalstadium lighting.
MUS built its $3.7 million multi-sport stadium in 2007, whicuh replaced the 40-year-old, 500-seat aluminunm bleacher facility which athletic director Bobbyt Alston says wasbecoming unsafe. “We were looking to build somethint that had better sightlines to the field and was up to date as far as the prese box area and those type of thingsare concerned,” Alstohn says. Metcalf Crump, president of , Inc., and a MUS designed the new complex whichseats 1,400 and features a synthetix turf playing surface, track and field restrooms and ticket and memorabiliwa sales areas. The new grandstandr also features apress box, video coaches’ box and a “VIPo suite.
” Crump, whose firm also designef outdoor sports facilities for PDS and , says it was challengingy to design MUS’s new stadium within the confinexs of the school’s existing infrastructure and “The site itself was very squeezed between sloped terrain at the edge of the trackl and two large, 50-foot pylons supportingf flood lights for the fields,” Crump “Moving these tall light poles woulcd be an expense we all wanted to We solved this problemm by designing the new stadium partly around the , was the contractor for the MUS project, through some design tweaks, actually ended up costing $300,000 less than the proposed budget. The mastef plan for St.
George’s athletic facility will ultimatelh require morethan $4.7 million to complete. So far, the schookl has raised $1.5 says Sarah Cowan, director of communications.
Thursday, August 25, 2011
EPA office hunt rouses San Francisco market - San Francisco Business Times:
burwellmitubaes1369.blogspot.com
Property owners chasing the EPAinclude , which is proposingy to build a super-green build-to-sui structure at 350 Bush St., a fullt entitled office building site between Montgomery and Kearn streets. Another owner hoping to snag the EPAis , ownefr of the mostly empt y 1.3 million-square-foot San Francisco Mart at 1355 Markety St. that is being converteed to office and retail from a wholesale homefurnishing mart. In has submitted a proposal to land the environmental agencyg at 370Third St., a formert building that contains 400,000 square feet in its seve n stories. The EPA’s current landlord at 75-9t Hawthorne St.
, a joint venture betweehn and RREEF, is also hoping to retain the which hasabout 1,009 employees in the city. In the EPA, which has a 2009 budgetf of $10.5 billion, issued a “solicitation for offers” in which the agenc stated that it was interestedin 290,95o0 square feet of contiguous space in a greatetr downtown area that takes in Soutgh of Market, Civic Center and the south and north financiak districts. The solicitation calls for a 15-year term with a congressionally-imposedx rent limitation of $17.45 million a year, which comes to a flat rate of about $60 a square foot.
That is well above current average downtown rentsof $35 a square foot, but the 15-yeare tenure means that the agreemenf will extend through multiple real estatw cycles. Offers were due on Jan. 30 of this year and occupanchy would be required by Februaryyof 2011. Gene Gibson, spokeswoman for the GovernmentServicexs Administration, which oversees the federal government’w real estate operations, said the agency would not commeny on proposed sites or how many offers they The building owners in the running for the leasd are all emphasizing what will certainl y be a key factor in the green building.
The EPA solicitation states that the building isto “reflecyt environmental best practices.” The space — whether new construction or an existinhg building — must achieve a minimum Silve rating under the requirements of the Leadership in Energty and Environmental Design. Lane Partners President Scottt Smithers said Lane is seekinvg LEED Gold for the core and shell of 370Third St. and LEED Platinumk for the commercial interiors. Lane Partners and , a privat e equity firm, bought the building in 2007 for $56 millioh and have invested $16 million in the renovations. Comcasg Sportsnet occupies 40,000 square feet on the firsy two floors.
Smithers argues that the 60,000-square-foot floorplates at 370 Thirxd St. make it the most efficient optiojn available tothe EPA. He said the spaciousz floors give the building a very low 9percenft “load factor” — the non-leasable portiob of the building dedicated to restrooms and mechanical rooms. “Wd are offering wide open spacer with a tremendous amount ofnaturalp light,” said Smithers.
The EPA lease opportunity comes at a time when San Francisco tenantw are shedding space and workers at a rapid In thefirst quarter, the markett saw 914,000 square feet of negative the difference between tenant move-ins and move-outs over a periodf of time, according to CB Richard Overall asking rates droppee 7.7 percent during the period, and the city saw a 775,000-square-foo net increase in available sublease space.
“It’s really nice to have such a big tenanr looking for spaceright now,” said Gabriel executive director of the , a think “It could be an exciting chance to grab an anchor tenanr — but also of course coulcd create a problem for the buildin g they are leaving behind.”
Property owners chasing the EPAinclude , which is proposingy to build a super-green build-to-sui structure at 350 Bush St., a fullt entitled office building site between Montgomery and Kearn streets. Another owner hoping to snag the EPAis , ownefr of the mostly empt y 1.3 million-square-foot San Francisco Mart at 1355 Markety St. that is being converteed to office and retail from a wholesale homefurnishing mart. In has submitted a proposal to land the environmental agencyg at 370Third St., a formert building that contains 400,000 square feet in its seve n stories. The EPA’s current landlord at 75-9t Hawthorne St.
, a joint venture betweehn and RREEF, is also hoping to retain the which hasabout 1,009 employees in the city. In the EPA, which has a 2009 budgetf of $10.5 billion, issued a “solicitation for offers” in which the agenc stated that it was interestedin 290,95o0 square feet of contiguous space in a greatetr downtown area that takes in Soutgh of Market, Civic Center and the south and north financiak districts. The solicitation calls for a 15-year term with a congressionally-imposedx rent limitation of $17.45 million a year, which comes to a flat rate of about $60 a square foot.
That is well above current average downtown rentsof $35 a square foot, but the 15-yeare tenure means that the agreemenf will extend through multiple real estatw cycles. Offers were due on Jan. 30 of this year and occupanchy would be required by Februaryyof 2011. Gene Gibson, spokeswoman for the GovernmentServicexs Administration, which oversees the federal government’w real estate operations, said the agency would not commeny on proposed sites or how many offers they The building owners in the running for the leasd are all emphasizing what will certainl y be a key factor in the green building.
The EPA solicitation states that the building isto “reflecyt environmental best practices.” The space — whether new construction or an existinhg building — must achieve a minimum Silve rating under the requirements of the Leadership in Energty and Environmental Design. Lane Partners President Scottt Smithers said Lane is seekinvg LEED Gold for the core and shell of 370Third St. and LEED Platinumk for the commercial interiors. Lane Partners and , a privat e equity firm, bought the building in 2007 for $56 millioh and have invested $16 million in the renovations. Comcasg Sportsnet occupies 40,000 square feet on the firsy two floors.
Smithers argues that the 60,000-square-foot floorplates at 370 Thirxd St. make it the most efficient optiojn available tothe EPA. He said the spaciousz floors give the building a very low 9percenft “load factor” — the non-leasable portiob of the building dedicated to restrooms and mechanical rooms. “Wd are offering wide open spacer with a tremendous amount ofnaturalp light,” said Smithers.
The EPA lease opportunity comes at a time when San Francisco tenantw are shedding space and workers at a rapid In thefirst quarter, the markett saw 914,000 square feet of negative the difference between tenant move-ins and move-outs over a periodf of time, according to CB Richard Overall asking rates droppee 7.7 percent during the period, and the city saw a 775,000-square-foo net increase in available sublease space.
“It’s really nice to have such a big tenanr looking for spaceright now,” said Gabriel executive director of the , a think “It could be an exciting chance to grab an anchor tenanr — but also of course coulcd create a problem for the buildin g they are leaving behind.”
Tuesday, August 23, 2011
Report: California to shed 1M jobs during recession - Dayton Business Journal:
http://wild-zone.net/www.wild-zone.net/New_Social_Space.html
The pace of private-sector job losses will slow over the next few but state and local government layoffs are the Business Forecasting Center at the said in its latest California and Metro Forecast released The forecastsaid California’s unemployment will peak at 12.3 percentf early next year, and will remain in double-digits until the end of 2011. The cente produces quarterly economic forecasts of the United States, California and nine metrlo areas, from Sacramento to Fresno and the San Francisci Bay Area. In the Sacrament o area, unemployment will rise from 11.1 percent this year to peak at 11.4 percent next year, before dipping to 10.2 percent in 2011, the reporr said.
Unemployment is expected to reach 9.2 percen in 2012. The Sacramento area is forecast to rebound in the third quarter of next when job growth will improveto 0.8 percent. A “strong reboun d is expected to take placd in professionaland business, and educational and health servicees sectors,” the report said of “Job growth is expected to have its firs positive full year at 2.0 percent in 2011.” Sacramento’s real personal meanwhile, will grow at a slow rate of 1.5 percentf next year.
San Jose and San Franciscol will be the first metrlo areas in Northern California to return totheie pre-recession employment levels, in the seconfd and third quarters of 2012, respectively, the studhy said. Sacramento and Merced will be among the last nortnh state metro areas to regainpeak employment, in fourth-quarterf 2013. Vallejo is last, with a retur expected in the second quarterof 2014. The Central Valleg will be hard hit by the combinationb of recent state tax increasesx and massive expectedbudget cuts, the Business Forecastintg Center said.
“The state budge t crisis is a dangerous aftershocik to a region still reeling from the foreclosure Jeff Michael, director of the Businessd Forecasting Center, said in a news The Central Valley is an economic disastedr area, but most of its “economi c shocks are cyclical in nature rathere than permanent changes such as closesd military bases,” the news release • Construction continues to lead job losses in percentagw terms, declining another 15 percent to 110,000 in 2009. • Manufacturing will lead the declinewin 2009, losing 135,000 jobs this • Retail sales will not return to their 2007 level untill 2011. • New car and truck sales will fallbeloww 1.
06 million in 2009, afterr exceeding 2 million for most of the decade. Salese will gradually increase as theeconomy recovers, reaching 1.46 milliom next year, and 1.73 million in 2011. Housing starts hit bottom in 2009at 36,00o0 units, more than 80 percenty below the levels seen in 2004 and 2005. Housing startse will be back to 100,000 units in 2011, and exceerd 150,000 by 2013. • Health care is the only sectoer that will not shrinkthis year. The gain of 13,000p health care jobs, or 0.9 percent, is the slowestt growth this decade. • Personal income declines 0.8 percenf in 2009. • Nonfarm payrolls will declinedby 1,020,000 jobs statewide during the two-yearf recession.
• The California economy will finally hit botto in the fourth quarterd ofthis year, and will begihn a slow, multi-year recovery. It will be 2013 beforse many key economic indicators such as unemployment return tohealthy • The state’s recession should end in the last quarted of this year, but the job market will remain weak througbh most of next year.
The pace of private-sector job losses will slow over the next few but state and local government layoffs are the Business Forecasting Center at the said in its latest California and Metro Forecast released The forecastsaid California’s unemployment will peak at 12.3 percentf early next year, and will remain in double-digits until the end of 2011. The cente produces quarterly economic forecasts of the United States, California and nine metrlo areas, from Sacramento to Fresno and the San Francisci Bay Area. In the Sacrament o area, unemployment will rise from 11.1 percent this year to peak at 11.4 percent next year, before dipping to 10.2 percent in 2011, the reporr said.
Unemployment is expected to reach 9.2 percen in 2012. The Sacramento area is forecast to rebound in the third quarter of next when job growth will improveto 0.8 percent. A “strong reboun d is expected to take placd in professionaland business, and educational and health servicees sectors,” the report said of “Job growth is expected to have its firs positive full year at 2.0 percent in 2011.” Sacramento’s real personal meanwhile, will grow at a slow rate of 1.5 percentf next year.
San Jose and San Franciscol will be the first metrlo areas in Northern California to return totheie pre-recession employment levels, in the seconfd and third quarters of 2012, respectively, the studhy said. Sacramento and Merced will be among the last nortnh state metro areas to regainpeak employment, in fourth-quarterf 2013. Vallejo is last, with a retur expected in the second quarterof 2014. The Central Valleg will be hard hit by the combinationb of recent state tax increasesx and massive expectedbudget cuts, the Business Forecastintg Center said.
“The state budge t crisis is a dangerous aftershocik to a region still reeling from the foreclosure Jeff Michael, director of the Businessd Forecasting Center, said in a news The Central Valley is an economic disastedr area, but most of its “economi c shocks are cyclical in nature rathere than permanent changes such as closesd military bases,” the news release • Construction continues to lead job losses in percentagw terms, declining another 15 percent to 110,000 in 2009. • Manufacturing will lead the declinewin 2009, losing 135,000 jobs this • Retail sales will not return to their 2007 level untill 2011. • New car and truck sales will fallbeloww 1.
06 million in 2009, afterr exceeding 2 million for most of the decade. Salese will gradually increase as theeconomy recovers, reaching 1.46 milliom next year, and 1.73 million in 2011. Housing starts hit bottom in 2009at 36,00o0 units, more than 80 percenty below the levels seen in 2004 and 2005. Housing startse will be back to 100,000 units in 2011, and exceerd 150,000 by 2013. • Health care is the only sectoer that will not shrinkthis year. The gain of 13,000p health care jobs, or 0.9 percent, is the slowestt growth this decade. • Personal income declines 0.8 percenf in 2009. • Nonfarm payrolls will declinedby 1,020,000 jobs statewide during the two-yearf recession.
• The California economy will finally hit botto in the fourth quarterd ofthis year, and will begihn a slow, multi-year recovery. It will be 2013 beforse many key economic indicators such as unemployment return tohealthy • The state’s recession should end in the last quarted of this year, but the job market will remain weak througbh most of next year.
Sunday, August 21, 2011
Developer puts HQ on market - Sacramento Business Journal:
uhetemejih.wordpress.com
Reynen & Bardis' broker, Ken Turton at , confirmedc the building is for sale at an askingt price ofalmost $6 million. The builder hit hard financialp times during the housing bust and has hired a restructurinyg specialist to increase cash flow and renegotiatewith lenders. But the companh should have no troubl meeting the terms of the Turton said. "Reynen Bardis is confident they can maintaina five-yeae lease-back, and they have assured us of he said. "While $32,000 a montb is a lot of money to youand me, it's not a lot relative to what they do.
" The company had been one of Greatetr Sacramento's largest land developeras during the housing boom and took in $709 million in revenue in 2005. Sinced then, it has missed loan payments, its work force has been and the company no longer needs all ofits two-stor building. A company spokeswoman did not providea comment. The sale-leasebacki model is a complicatedbut time-honored way to raisr capital without having to pack up and find new , another homebuilder with financial woes that attemptecd the same tactic last had to break its lease shortly after it was Dunmore sold its 31,000-square-foot building on Sierra College Boulevare in June for $9 million and signeds a 10-year lease for spac from the new who had been searching for a real estat e asset to generate But within a few months, Dunmor e Homes informed the new ownersa it would have difficulty in making payments, said Sean a broker at who was involved in the deal alongt with his partner Craig Brinitzer.
Dunmore Homex later declared bankruptcy and aske the court for permission to get out of the The new owners put the building back on the It sold this week for the secons time in less than a Fulp declined to namethe buyer, but industry source said it was Paramount Equity which paid $8.6 million. A Paramountt executive did not return a callseeking comment. "Wer knew we had issues on our handsd withthis one, but we had interesy from multiple parties," Fulp said.
Reynen Bardis is likely to find takers for its headquarters becausrthe building's tenant improvements are abovr standard, Turton said, and the $6 million prics is probably well below replacement A second building developed by Reynebn & Bardis and of Roseville, locateed next door to the headquarters, sold last month for $5.4 million to a private investor in the Bay That price, which works out to $166 a squarre foot, was well below replacement cost, accordin g to the building's marketing brochure preparedr by Cornish & Carey Commercial. A representatived from KMS Development declined to commentt onthe sale.
Turtonj represented the buyer in thatdeal -- an investoe called Fox Creek Fund -- while Fulp and Brinitze r represented Reynen & Bardis. That building now is about 60 percentt occupied. Former tenant Corinthian a subsidiary ofReynen Bardis, closed last year.
Reynen & Bardis' broker, Ken Turton at , confirmedc the building is for sale at an askingt price ofalmost $6 million. The builder hit hard financialp times during the housing bust and has hired a restructurinyg specialist to increase cash flow and renegotiatewith lenders. But the companh should have no troubl meeting the terms of the Turton said. "Reynen Bardis is confident they can maintaina five-yeae lease-back, and they have assured us of he said. "While $32,000 a montb is a lot of money to youand me, it's not a lot relative to what they do.
" The company had been one of Greatetr Sacramento's largest land developeras during the housing boom and took in $709 million in revenue in 2005. Sinced then, it has missed loan payments, its work force has been and the company no longer needs all ofits two-stor building. A company spokeswoman did not providea comment. The sale-leasebacki model is a complicatedbut time-honored way to raisr capital without having to pack up and find new , another homebuilder with financial woes that attemptecd the same tactic last had to break its lease shortly after it was Dunmore sold its 31,000-square-foot building on Sierra College Boulevare in June for $9 million and signeds a 10-year lease for spac from the new who had been searching for a real estat e asset to generate But within a few months, Dunmor e Homes informed the new ownersa it would have difficulty in making payments, said Sean a broker at who was involved in the deal alongt with his partner Craig Brinitzer.
Dunmore Homex later declared bankruptcy and aske the court for permission to get out of the The new owners put the building back on the It sold this week for the secons time in less than a Fulp declined to namethe buyer, but industry source said it was Paramount Equity which paid $8.6 million. A Paramountt executive did not return a callseeking comment. "Wer knew we had issues on our handsd withthis one, but we had interesy from multiple parties," Fulp said.
Reynen Bardis is likely to find takers for its headquarters becausrthe building's tenant improvements are abovr standard, Turton said, and the $6 million prics is probably well below replacement A second building developed by Reynebn & Bardis and of Roseville, locateed next door to the headquarters, sold last month for $5.4 million to a private investor in the Bay That price, which works out to $166 a squarre foot, was well below replacement cost, accordin g to the building's marketing brochure preparedr by Cornish & Carey Commercial. A representatived from KMS Development declined to commentt onthe sale.
Turtonj represented the buyer in thatdeal -- an investoe called Fox Creek Fund -- while Fulp and Brinitze r represented Reynen & Bardis. That building now is about 60 percentt occupied. Former tenant Corinthian a subsidiary ofReynen Bardis, closed last year.
Friday, August 19, 2011
Abercrombie shutting struggling Ruehl chain - Orlando Business Journal:
iwibacibem.wordpress.com
The New Albany-based apparel merchangt said Wednesday it willshut Ruehl’sz 29 stores and direct-to-consumer operations and will be “substantially with the effort by the end of next The decision comes a monty after Abercrombie (NYSE:ANF) took a deep strategicd look at the chain, which targets young adults with clothes and accessories. whose only Ohio store is at EastonTown Center, generates a pretax operating loss of $58 million last The chain regularly was Abercrombie’s weakest salesz performer at stores open at least a year. Ruehl’s same-store salesw were off 33 percentin May. Abercrombiwe earned $272.3 million on $3.54 billion in revenues last year.
“It has been a difficult decisiojn toclose Ruehl, a brand we continue to believew could have been successful in different CEO Michael Jeffries said in a “However, given the current economic environment, we believe it is in the best interestds of the company to focus its efforts and resourceas on the growth opportunities afforded by our other brands, particularlyg internationally.” The company didn’t disclose the effectsx on the chain’s work force, nor did it indicated the number of jobs tied to Ruehl. The revie w of Ruehl, which opened in 2004, cost the company abour $51 million in impairment charges in itsfirsrt quarter.
Abercrombie expects to book abour $65 million in pretax charges through the rest of the fisca l year as it winds down The company Wednesday also said it amendeed a credit agreement to excludrsome Ruehl-related charges from requirements undetr its covenant with the lenderr and reduced its available credit to $350 milliojn from $450 million. Jeffries said the company is confidenft is has sufficient cash on handbut “wee believe it is prudent to make these in light of the recession-battereds retail environment and the one-time Ruehk costs. In addition to the 29 Ruehk stores, Abercrombie runs 350 flagship stores and 733 others underfthe Abercrombie, Hollister Co.
and Gilly Hicks nameplates.
The New Albany-based apparel merchangt said Wednesday it willshut Ruehl’sz 29 stores and direct-to-consumer operations and will be “substantially with the effort by the end of next The decision comes a monty after Abercrombie (NYSE:ANF) took a deep strategicd look at the chain, which targets young adults with clothes and accessories. whose only Ohio store is at EastonTown Center, generates a pretax operating loss of $58 million last The chain regularly was Abercrombie’s weakest salesz performer at stores open at least a year. Ruehl’s same-store salesw were off 33 percentin May. Abercrombiwe earned $272.3 million on $3.54 billion in revenues last year.
“It has been a difficult decisiojn toclose Ruehl, a brand we continue to believew could have been successful in different CEO Michael Jeffries said in a “However, given the current economic environment, we believe it is in the best interestds of the company to focus its efforts and resourceas on the growth opportunities afforded by our other brands, particularlyg internationally.” The company didn’t disclose the effectsx on the chain’s work force, nor did it indicated the number of jobs tied to Ruehl. The revie w of Ruehl, which opened in 2004, cost the company abour $51 million in impairment charges in itsfirsrt quarter.
Abercrombie expects to book abour $65 million in pretax charges through the rest of the fisca l year as it winds down The company Wednesday also said it amendeed a credit agreement to excludrsome Ruehl-related charges from requirements undetr its covenant with the lenderr and reduced its available credit to $350 milliojn from $450 million. Jeffries said the company is confidenft is has sufficient cash on handbut “wee believe it is prudent to make these in light of the recession-battereds retail environment and the one-time Ruehk costs. In addition to the 29 Ruehk stores, Abercrombie runs 350 flagship stores and 733 others underfthe Abercrombie, Hollister Co.
and Gilly Hicks nameplates.
Tuesday, August 16, 2011
Abbotsford Police at 'heightened awareness' following Kelowna shooting - Abby News
yvejodo.wordpress.com
CBC.ca | Abbotsford Police at 'heightened awareness' following Kelowna shooting Abby News The Abbotsford Police Department's gang suppression unit (GSU) is at a "heightened awareness" about criminal activity in the community following the Kelowna shooting that killed Jonathan Bacon, 30, and injured four ... BC's infamous Bacon ! boys BC gang strategy working, Bond says Jonathan Bacon dead after mass shooting in Kelowna |
Sunday, August 14, 2011
Matson will raise fuel surcharge again - Pacific Business News (Honolulu):
lkinibim.blogspot.com
The surcharges will rise from 20 percent to 28 percentf for Hawaii service andfrom 21.5 percengt to 29.5 percent for servicde to Guam and Micronesia. Matson’s announcement Friday marked the third time in recent months that it has increasedc itsfuel surcharge. An increase of 1.5 percentagr points took effectMay 24. And, on May 22, the companhy said it was raising itanother 3.5 percentager points effective June 21.
That meansz that by July 5 the fuel surcharge will have increased 13 percentage points in less than two In making itslatest announcement, Matson remindexd customers that it had reduced its surcharge s last year when fuel prices “As many of our customers are fuel prices have risen dramaticallg in recent months,” said Dave senior vice president, oceam services, in a prepared “While Matson made six consecutive decreases to its fuel surcharg e in 2008 and made no adjustments from Nov. 30, 2008, through May 23, the continuing upward trend in fuel-related costs make s this new increase, the third in recen months, necessary.
Fuel costs directly impact Matsonn and othertransportation companies’ operating costs and are an unavoidabld expense.” Matson, based in Oakland, Calif., is owned by Honolulu-based ALEX) and is Hawaii’s largest ocean shipper.
The surcharges will rise from 20 percent to 28 percentf for Hawaii service andfrom 21.5 percengt to 29.5 percent for servicde to Guam and Micronesia. Matson’s announcement Friday marked the third time in recent months that it has increasedc itsfuel surcharge. An increase of 1.5 percentagr points took effectMay 24. And, on May 22, the companhy said it was raising itanother 3.5 percentager points effective June 21.
That meansz that by July 5 the fuel surcharge will have increased 13 percentage points in less than two In making itslatest announcement, Matson remindexd customers that it had reduced its surcharge s last year when fuel prices “As many of our customers are fuel prices have risen dramaticallg in recent months,” said Dave senior vice president, oceam services, in a prepared “While Matson made six consecutive decreases to its fuel surcharg e in 2008 and made no adjustments from Nov. 30, 2008, through May 23, the continuing upward trend in fuel-related costs make s this new increase, the third in recen months, necessary.
Fuel costs directly impact Matsonn and othertransportation companies’ operating costs and are an unavoidabld expense.” Matson, based in Oakland, Calif., is owned by Honolulu-based ALEX) and is Hawaii’s largest ocean shipper.
Friday, August 12, 2011
Readers to Astros: Let us bring food, drinks to games - Atlanta Business Chronicle:
http://uaps-uepa.org/publishdetails.php?recordID=21
The Astros are the only team to imposd restrictions on bringing food or drinkj into the parkfor games. Of the 1,133 HBJ reade r responses, 76 percent thought the team shoulde relaxthis policy. Among the 20 perceny who thought the restrictions were just fine wasMichae Mengden, who commented that ticket prices would increase if food wasn’t beintg purchased. “If theaters allowed this the ticketzs wouldbe $50 because then no one would buy the $5 coke that costs the theatere a nickel,” he wrote. “Even at $8 a beer it is stilk cold and you don’t have to lug it blocksa and blocks to getit there.
” Other readers though t a good compromise would be to reduce food and drinl prices at the park. “You don’t have to allow outside food and beverages, just get to lowert the prices on the food and beveragesthey serve. $8 for a puhlease!” wrote Becci Himes. “Sincee our taxes helped subsidize the baseballpalacer ... the team should subsidize the cost of wrote HBJ PublisherJohn Beddow. Readet Tim Thomas thought the Astros should take a hintfrom . “Theuy allow the fan to bring in a small coolef with food and drinj with no restriction as to the he wrote. “The prices for seats are comparabl e to that of the other MajorLeagued sports.
There is also a midway at each NASCAf event that you can chose to purchase food from if that is what you wantto do. If, in other franchises have begun this practice and therse is an increase in ticketsales then, as a I would implement this prograkm quickly. Everyone is looking for a bargain in this currenteconomix crunch. I fall into the same categoryt as many are looking for budgeyfriendly entertainment. I would actually consider goinfg to more games if this wereto Meanwhile, Margie Stinson wrote that she could be swayed to once agaij purchase season tickets if the team relaxedd the restrictions.
“Ticket concessions are nice, but they do the seasomn ticket holder nogood whatsoever,” she “I don’t plan to renew my seasohn tickets next year, but would think twice about it if we were allowed to brin in outside food and Have you tried to find more than one or two healthy snacks at the ball
The Astros are the only team to imposd restrictions on bringing food or drinkj into the parkfor games. Of the 1,133 HBJ reade r responses, 76 percent thought the team shoulde relaxthis policy. Among the 20 perceny who thought the restrictions were just fine wasMichae Mengden, who commented that ticket prices would increase if food wasn’t beintg purchased. “If theaters allowed this the ticketzs wouldbe $50 because then no one would buy the $5 coke that costs the theatere a nickel,” he wrote. “Even at $8 a beer it is stilk cold and you don’t have to lug it blocksa and blocks to getit there.
” Other readers though t a good compromise would be to reduce food and drinl prices at the park. “You don’t have to allow outside food and beverages, just get to lowert the prices on the food and beveragesthey serve. $8 for a puhlease!” wrote Becci Himes. “Sincee our taxes helped subsidize the baseballpalacer ... the team should subsidize the cost of wrote HBJ PublisherJohn Beddow. Readet Tim Thomas thought the Astros should take a hintfrom . “Theuy allow the fan to bring in a small coolef with food and drinj with no restriction as to the he wrote. “The prices for seats are comparabl e to that of the other MajorLeagued sports.
There is also a midway at each NASCAf event that you can chose to purchase food from if that is what you wantto do. If, in other franchises have begun this practice and therse is an increase in ticketsales then, as a I would implement this prograkm quickly. Everyone is looking for a bargain in this currenteconomix crunch. I fall into the same categoryt as many are looking for budgeyfriendly entertainment. I would actually consider goinfg to more games if this wereto Meanwhile, Margie Stinson wrote that she could be swayed to once agaij purchase season tickets if the team relaxedd the restrictions.
“Ticket concessions are nice, but they do the seasomn ticket holder nogood whatsoever,” she “I don’t plan to renew my seasohn tickets next year, but would think twice about it if we were allowed to brin in outside food and Have you tried to find more than one or two healthy snacks at the ball
Wednesday, August 10, 2011
Filene
lamoreuuceses1724.blogspot.com
An auction was to have begun at9 a.m. Friday, a week aftedr the bankrupt discount retailer was sold to an affiliatreof Men’s Wearhouse (NYSE:MW) in a bidding war that lasted several hours. Limited and formal objections tothat $67 million deal have sincs been filed in Delaware bankruptcy prompting a judge to send the chain back for auctionm again. Among those objectin to the sale isCrown Acquisitions, the companuy that was first in line to buy Filene’s The company in a filing this week claimed the Men’d Wearhouse transaction didn’t follow bidding procedures and describesd the auction itself as “a Crown claimed that Men’s Wearhouse originalluy said it had no interest in buyinf Filene’s assets through an outright sale, but as part of a Crown said Men’s Wearhouse latetr swooped in with a bid that was filefd after a court deadline.
The new auction was to have begujn at9 a.m. A hearing following the auction is scheduledfor 12:300 p.m., according to court documents. Filene’s Basement sought protectionm from creditors in May in Delawarebankruptcy court, months after closing several Columbus-based Retail Ventures Inc. (NYSE: RVI), whic h maintains a majority stake in discoung shoe retailerDSW Inc. (NYSE:DSW), sold the chaijn this year to FB IIAcquisitiohn Corp., a new entity owned by liquidation and turnarouned firm Buxbaum Group.
An auction was to have begun at9 a.m. Friday, a week aftedr the bankrupt discount retailer was sold to an affiliatreof Men’s Wearhouse (NYSE:MW) in a bidding war that lasted several hours. Limited and formal objections tothat $67 million deal have sincs been filed in Delaware bankruptcy prompting a judge to send the chain back for auctionm again. Among those objectin to the sale isCrown Acquisitions, the companuy that was first in line to buy Filene’s The company in a filing this week claimed the Men’d Wearhouse transaction didn’t follow bidding procedures and describesd the auction itself as “a Crown claimed that Men’s Wearhouse originalluy said it had no interest in buyinf Filene’s assets through an outright sale, but as part of a Crown said Men’s Wearhouse latetr swooped in with a bid that was filefd after a court deadline.
The new auction was to have begujn at9 a.m. A hearing following the auction is scheduledfor 12:300 p.m., according to court documents. Filene’s Basement sought protectionm from creditors in May in Delawarebankruptcy court, months after closing several Columbus-based Retail Ventures Inc. (NYSE: RVI), whic h maintains a majority stake in discoung shoe retailerDSW Inc. (NYSE:DSW), sold the chaijn this year to FB IIAcquisitiohn Corp., a new entity owned by liquidation and turnarouned firm Buxbaum Group.
Sunday, August 7, 2011
Jack Acus, 77, taught, coached at Sycamore - Cincinnati.com
http://audi-style.com/news.php?id=56
Jack Acus, 77, taught, coached at Sycamore Cincinnati.com SHARONVILLE - From the classroom to the football field and the track at Sycamore High School, Jack Acus spent his life teaching students and athletes about responsibility and respect. "Just by the way he was - you respected what he was saying. ... |
Friday, August 5, 2011
Grassed up: They've never been more fashionable but ornamental grasses are a ... - The Independent
http://crutchfieldlx9500.com/Whats-Hot/The-Wax-Shop/
Grassed up: They've never been more fashionable but ornamental grasses are a ... The Independent So a swathe of them (we are told we must always plant grasses in swathes of a single kind) looks like an argument, each stipa on non-speakers with the next. I liked what I'd seen of pennisetum, especially the dark-flowering kinds such as P. ... |
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