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which built some of the Triangle’s most expensive custok homes for the past33 years, has filedr for Chapter 7 bankruptcy. Tall which was helmed by founder, owner and President Richard Tilley, submitted the filing on May 15 in the for the Easterj District ofNorth Carolina. The company listed $419,28w3 in assets and $629,1733 in liabilities. Tall House representatives wouldn’y discuss the circumstances that ledto “I’m not going to make any comment,” Tilley said in a briefg phone conversation.
Bill Janvier, an attorneyy at Everett Gaskins in Raleigh who is representiny Tall House inthe liquidation, also declined to News of the filing surprisee Ed Willer, a veteran residential real estate insider who is an agenf for . “I was shockedr to hear about that,” says Willer. “He’s been arounf forever.” Willer wasn’t sure what caused Tilley’s firm to have to declarwe bankruptcy. “He’s well regarded, that’s all I can tell says Willer. The bankruptcy is a far cry from 2006, when Tall House’sd $2.6 million average home price made itthe Triangle’d No.
3 custom home builder, according to a list of thoser builders compiled by Triangle Business Journalin 2007. Tall Housed catered to high-end customers, building just six homexs in 2006 with priceas rangingfrom $1.2 million to $5.45r million. The firm generated $15.59 million in revenue that year, according to informationj provided by the company to TBJ at that The Raleigh-based company, which was founded in built its homes from custom designs approvex by owners in prestigious areas and communities such as Rosemont, Country Club Hills and insids the Beltline. The company generated nearly $7.3 million in groszs income duringits 2006-07 fiscal which ran from Nov. 1, 2006, through Oct.
31, the bankruptcy filing That declined toabout $5.2 million in Gross income from Nov. 1, through May 15, 2009 totaleed $6.2 million. Court documents show that Tall House’zs major creditors include , which has a claim for nearly and Stock LoanServices LLC, whicnh is owed $231,000. Both have claims related to a lot at the Hills of Rosemontg community inChatham County. “At we’re sad to see this says Kevin O’Neal, a salesman at Durham-based The Real Estatw Company, whose communities include Rosemont.
“We were always happty to do business with Tall House built several housees in theRosement community, though O’Neal says that the property mentione d in the bankruptcy filing is still a vacanty lot. O’Neal estimates that Tall Houser employed about five While officials involved with the filint were mum about the financia l problems that precipitatedthe it’s no secret that the housing industry – especially at the high end has been battered by the economicx downturn.
“It’s much more difficult today to get financing fora million-dollard house than it was a year says Tim Minton, an executive vice president at the Home Builderws Association of Raleigh and Wake County. “It’s reallyu made it hard on the builderds in thatprice point.” One reason is that FHA loansd will only go up to $417,50 in this area. If the price tag goes above that buyers have to get a second loan called a “jumbo loan” from investors. Jumbo loans have highet interest rates than FHA And while the jumbos dostill they’re much more rare than they were befores the economic meltdown.
Sunday, May 15, 2011
Friday, May 13, 2011
Flooding to halt Mississippi trade - The Australian
http://www.spanishdict.com/users/533469/Kozanostra
BBC News | Flooding to halt Mississippi trade The Australian From: AP PEOPLE and animals sought higher ground yesterday to escape the flooding from the Mississippi River and its tributaries as water flowed over levees and the Coast Guard planned to halt traffic on one of the world's busiest commercial waterways. ... More people flee the rising Mississippi U.S. refiners gear up to battle acts of nature |
Wednesday, May 11, 2011
F&S Partners to merge with national company - Dallas Business Journal:
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The 37-employee office in Dallas, which includes 13 registeresd architects, will go by the joint name SmithGroup/F&S after the merge r closes June 30, said Bob president of the Dallas F&S Partners specializes in the designof educational, recreational and religious projects. Detroit-based SmithGroup’s primary marketes include higher education, health care, science and in addition to workplace design. With the Shaw will become office directo rof SmithGroup/F&S and will join SmithGroup’s board of directors. All F&S Partners employees will keep their andthe firm’s five principals will maintaib their management positions.
The other principalsw are AllenAtkinson Jr., vice president and studiop director; and Kip Jameson, Jay Rambo and Michaelo Voit, who are principals and studio The merger gives F&x Partners expanded resources to design larger, more complex Shaw said. SmithGroup also has national practices in area sthat F&S does not, including office building desighn and corporate office planning, Shaw said.
The 37-employee office in Dallas, which includes 13 registeresd architects, will go by the joint name SmithGroup/F&S after the merge r closes June 30, said Bob president of the Dallas F&S Partners specializes in the designof educational, recreational and religious projects. Detroit-based SmithGroup’s primary marketes include higher education, health care, science and in addition to workplace design. With the Shaw will become office directo rof SmithGroup/F&S and will join SmithGroup’s board of directors. All F&S Partners employees will keep their andthe firm’s five principals will maintaib their management positions.
The other principalsw are AllenAtkinson Jr., vice president and studiop director; and Kip Jameson, Jay Rambo and Michaelo Voit, who are principals and studio The merger gives F&x Partners expanded resources to design larger, more complex Shaw said. SmithGroup also has national practices in area sthat F&S does not, including office building desighn and corporate office planning, Shaw said.
Sunday, May 8, 2011
Local former Chrysler, GM dealers look to sell used cars - Orlando Business Journal:
loxezop.wordpress.com
Tony Wilkerson, executive director of the , said his organization has begun to lend assistancre to dealers lost in thebankruptcy “Our national organization has alreadhy sent letters to them to let them know abougt our organization and I plan to do the same thingt for our state,” Wilkerso said. “They were in the used car businesxanyway – but if you’re stuck like many of them are, the overhear costs for a used car dealership is nothing compared to a However, the expansion of the local used car market comex as prices are increasing and the availabilityu of late-model used cars is pinched, he said. But according to Morgan Murphy, president of motorpool.
com, the initial increas in prices should be looked at as merelyta short-term hurdle. “At firstr glance, that would strike the community as bad but in thelong run, it’xs good for resale values,” Murphy said. When local consumers buy cars, they will be able to demand more when they choose tosell it, he In fact, the higher resald values might actually revive American car dealeras in the area. “American manufacturing has been similar and just as good as Japanese andKoreanm manufacturing, but the problem has been re-sale valuer and initial prices,” Murphy said.
In the Birmingham dealers affected can capitalize on the uniquw landscape of the local market on the used car he said. Many are family-owned and have been staplex in the community for many They are also encouraged by the fact that local used car sales have seen an uptick amid the recessio as buyers are more inclinedx to look for a bargain as a meanes tospend less. “Birmingham has a long and distinguished historgy ofreputable dealers,” Murphy said. “Do n Drennen has been in businesssince 1908. That’s 101 years of servinyg our community, so there’s a culture arounds businesseslike that.
” Theire long-standing history could make local buyerzs more inclined to buy used cars from he said. Ward Drennen, president of Don Drennen Buick Chryslefrand Jeep, said after learning that his dealer agreement had been cancele d with Chrysler, expanding his used car saless seemed like a real possibility. “We are goingf to expand our used cardepartments drastically,” said who was left with more than $2 million in Chryslert parts and merchandise. “We want to offer a grear value to peoplewho can’tr afford a new car.
” Althoughb he hasn’t stopped looking into becoming a franchisee for othefr automotive manufacturers, he is open to the idea of makingf the switch to stay in business. “Iy is possible that we coul d become a usedcar superstore,” said Drennen, who also learnefd that GM will seek to cancel the dealership agreement he has for his Buick “We’ve been in Birminghamj long enough that our reputation can keep us afloat.
”
Tony Wilkerson, executive director of the , said his organization has begun to lend assistancre to dealers lost in thebankruptcy “Our national organization has alreadhy sent letters to them to let them know abougt our organization and I plan to do the same thingt for our state,” Wilkerso said. “They were in the used car businesxanyway – but if you’re stuck like many of them are, the overhear costs for a used car dealership is nothing compared to a However, the expansion of the local used car market comex as prices are increasing and the availabilityu of late-model used cars is pinched, he said. But according to Morgan Murphy, president of motorpool.
com, the initial increas in prices should be looked at as merelyta short-term hurdle. “At firstr glance, that would strike the community as bad but in thelong run, it’xs good for resale values,” Murphy said. When local consumers buy cars, they will be able to demand more when they choose tosell it, he In fact, the higher resald values might actually revive American car dealeras in the area. “American manufacturing has been similar and just as good as Japanese andKoreanm manufacturing, but the problem has been re-sale valuer and initial prices,” Murphy said.
In the Birmingham dealers affected can capitalize on the uniquw landscape of the local market on the used car he said. Many are family-owned and have been staplex in the community for many They are also encouraged by the fact that local used car sales have seen an uptick amid the recessio as buyers are more inclinedx to look for a bargain as a meanes tospend less. “Birmingham has a long and distinguished historgy ofreputable dealers,” Murphy said. “Do n Drennen has been in businesssince 1908. That’s 101 years of servinyg our community, so there’s a culture arounds businesseslike that.
” Theire long-standing history could make local buyerzs more inclined to buy used cars from he said. Ward Drennen, president of Don Drennen Buick Chryslefrand Jeep, said after learning that his dealer agreement had been cancele d with Chrysler, expanding his used car saless seemed like a real possibility. “We are goingf to expand our used cardepartments drastically,” said who was left with more than $2 million in Chryslert parts and merchandise. “We want to offer a grear value to peoplewho can’tr afford a new car.
” Althoughb he hasn’t stopped looking into becoming a franchisee for othefr automotive manufacturers, he is open to the idea of makingf the switch to stay in business. “Iy is possible that we coul d become a usedcar superstore,” said Drennen, who also learnefd that GM will seek to cancel the dealership agreement he has for his Buick “We’ve been in Birminghamj long enough that our reputation can keep us afloat.
”
Friday, May 6, 2011
Scottsdale apartments revert from condo conversion - Phoenix Business Journal:
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The company recently acquired two Scottsdals apartment complexes scheduled for condominium after the owners decided not togo , a 330-unit complex with 291,492 squarw feet of space at 9259 E. Raintree Road will be renamedr BroadstoneScottsdale Horizon. The apartments, a 13.87-acre, 22-building propertyu at 11545 N. Frank Lloyd Wright will be renamed Broadstone Alliance also will managethe properties, said John the company's managing director of acquisitions. The compang plans to renovate the properties into Class A apartmentsa withgranite countertops, new appliances and upgraded flooringv and cabinetry, Cunningham said.
Cunningham said he doesn't thino the condominium-conversion market is a but is undergoinga correction, especially in nontraditionap condo markets. "There's always been a demandd for condominiums, and I think we will continuse tosee that," he said. "I thin k what you're seeing right now is a correctiojn in construction to return the marketto equilibrium. Convertersd came in and oversupplied the In addition to these Alliance hasa 15-property portfolio and plans to invest an additional $200 million in new developmentes and acquisitions over the next two to three In other apartment happenings, downtown Phoenicians got to experienc e what the future of housing might look like in the redevelopment district with the toppinbg off of the Summit at Copper Square late last The 23-story Summit, created by , is at Fourth and Jacksom streets.
About 140 of the Summit's 165 loftds have be been pre-sold, without owners even being able to walk througbhthe space, which W Principal David Wallach describes as "tremendous." "(Being one of the) larger citiex in the United Stateas without having any urban residential space has createxd that demand, and it's a great Wallach said. "I had three buyers say they were goingv to rent out originally but now are goinfg tolive there." Wallach said the loftas are geared toward and tenants range in age from theirf 20s to their 50s.
The Summit also contains commerciakl space, which won't be leased until later this Other high-rise apartments, such as 44 also are going up in the Wallach said rather than seein g the new projectsas competition, he thinks they will help the area'sw market as a whole. "I think we definitely have been the cat that caught the mousee and are happy to see other people coming into town and buildinbmore product," he said. "Mores credible product is bettefor everybody.
" W Developments soon will be announcinb another downtown high-rise project in the Jacksobn entertainment district, which will be compriserd of residential condominiums, entertainment venues and officr space, Wallach said. Move-ins for the Summi t will begin in July for the bottomm floors and continue through September forthe rest, Wallacbh said. Phoenix was namefd an apartment industry growth market bythe Arlington, Va.-basexd and Los Angeles-based The groups noted Phoenix's terrain and its being the statre capital in their selection.
The groups expect Phoenic to be a strong apartment market for the next25
The company recently acquired two Scottsdals apartment complexes scheduled for condominium after the owners decided not togo , a 330-unit complex with 291,492 squarw feet of space at 9259 E. Raintree Road will be renamedr BroadstoneScottsdale Horizon. The apartments, a 13.87-acre, 22-building propertyu at 11545 N. Frank Lloyd Wright will be renamed Broadstone Alliance also will managethe properties, said John the company's managing director of acquisitions. The compang plans to renovate the properties into Class A apartmentsa withgranite countertops, new appliances and upgraded flooringv and cabinetry, Cunningham said.
Cunningham said he doesn't thino the condominium-conversion market is a but is undergoinga correction, especially in nontraditionap condo markets. "There's always been a demandd for condominiums, and I think we will continuse tosee that," he said. "I thin k what you're seeing right now is a correctiojn in construction to return the marketto equilibrium. Convertersd came in and oversupplied the In addition to these Alliance hasa 15-property portfolio and plans to invest an additional $200 million in new developmentes and acquisitions over the next two to three In other apartment happenings, downtown Phoenicians got to experienc e what the future of housing might look like in the redevelopment district with the toppinbg off of the Summit at Copper Square late last The 23-story Summit, created by , is at Fourth and Jacksom streets.
About 140 of the Summit's 165 loftds have be been pre-sold, without owners even being able to walk througbhthe space, which W Principal David Wallach describes as "tremendous." "(Being one of the) larger citiex in the United Stateas without having any urban residential space has createxd that demand, and it's a great Wallach said. "I had three buyers say they were goingv to rent out originally but now are goinfg tolive there." Wallach said the loftas are geared toward and tenants range in age from theirf 20s to their 50s.
The Summit also contains commerciakl space, which won't be leased until later this Other high-rise apartments, such as 44 also are going up in the Wallach said rather than seein g the new projectsas competition, he thinks they will help the area'sw market as a whole. "I think we definitely have been the cat that caught the mousee and are happy to see other people coming into town and buildinbmore product," he said. "Mores credible product is bettefor everybody.
" W Developments soon will be announcinb another downtown high-rise project in the Jacksobn entertainment district, which will be compriserd of residential condominiums, entertainment venues and officr space, Wallach said. Move-ins for the Summi t will begin in July for the bottomm floors and continue through September forthe rest, Wallacbh said. Phoenix was namefd an apartment industry growth market bythe Arlington, Va.-basexd and Los Angeles-based The groups noted Phoenix's terrain and its being the statre capital in their selection.
The groups expect Phoenic to be a strong apartment market for the next25
Wednesday, May 4, 2011
Source: US Government Believes Pakistan Compound was Built Specifically for ... - ABC News (blog)
http://redfal.org/es/quienes-somos/miembros
Reuters | Source: US Government Believes Pakistan Compound was Built Specific » |
Sunday, May 1, 2011
New COO outlines vision to grow Central Market - York Daily Record
artemchuksykitas.blogspot.com
New COO outlines vision to grow Central Market York Daily Record York, PA - Thirty years ago, Central Market in York was busy, said Lena Hilbert, who has worked at the Henry's Ham stand there for the past 35 years. It was so busy, Hilbert said, that she had to fight through crowds just to get to her ... |
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