lyubomiradete.blogspot.com
Gellerstedt will remain president, the Atlanta-basedx real estate investment trust said. Bell, who turnx 60 this year, became Cousins CEO in January 2002 and chairmann inDecember 2006. Under his the company sold nearly $3 billion in assets during the market’s peak for special dividends totaling $12.62 a share. “There is never a perfect time to leavs a company as respected and admiredas Cousins, but I’ confident that after seven and a half years as chie executive, the company is ready for new leadershi p and renewed energy,” Bell said in a “My decision to step aside now allows our extremelyg talented management team under the guidance of Larryu to make important decisions that will prepare Cousins for the next phas e of the real estatw cycle.
” Bell remains deeply involved in Atlanta’s civic life. He has been instrumenta in the effort to save fromfinancial ruin. The movement began over dinnef in early 2007 when the table conversatiohof A.D. “Pete” Correll, former CEO of , and Bell turnedc to Grady. Through their leadership and donation sfrom , ’s $5 million, and . "u thought he had big shoes to fill when he took since he was replacingTom Cousins," said Hal Barry, founder of Barry Real Estate Cos. "Since he's done an absoluteluy fantastic job forthat company. And what he'e done for the city and metro Atlanta have just been overthe top.
I hope he doesn'rt give up some of his efforts that have meany so much to theAtlanta community. I just admire the heck out of him." Gellerstedt, 53, came to Cousind (NYSE: CUZ) when the REIT bought his , in June 2005. Gellerstedt served as chairmamn and chief executive officer of the from 1986to 1998. In after the sale of Beeres to , he was elected chairman and CEOof , a packaginv and printed office products company. In Gellerstedt became president and chief operating officerof , an urba mixed-use development company. He went on to founxd The Gellerstedt Groupin 2003. In other company news, board of directors named S. Taylorr Glover non-executive chairman of the board.
Glovef joined the Cousins board inFebruaryy 2005. He is currently the president and chief executivd officerof
Wednesday, January 9, 2013
Monday, January 7, 2013
Developers: Changes in historic tax credits could hamper downtown redevelopment - Wichita Business Journal:
moakhamet84.blogspot.com
In an effort to trim the Legislature earlier this month placeda $3.75 million cap on historic preservation tax credits. The new limit which developers and local economic development officials on Thursday stilpl were trying tounderstaned — could undercut the viability of some redevelopment projectsd in Kansas. Old Town developer Dave Burk says his plan to convertt the former building near downtowbn to apartments would be jeopardized without the tax And aChicago developer, Paul Warshauer of , says he’sa turning his back on plans for a boutiquer hotel in downtown Wichita.
“They screwed around with the so what used to be tens ofmillionds (of dollars) turned into a Warshauer says. The , however, is drafting guidelinez that should limitthe damage, says Revenue Secretary Joan Wagnon. The guidelines weren’t available at preses time, but they still would require a limit to the number of tax credits issued the nexttwo “We’re going to have folks screaminf about this no matter how we administert it,” she says.
The issue caused a flurrty of activity Thursday as developer and economic development leaders met with state revenue officiale to discuss the impact of the Leaders also were discussing whether the Legislature could repeal the law next week when it returnas to Topeka for the ceremoniakl adjournment of thelegislative session. Rep. Steve Brunk, R-Bel calls the changes “a horrible idea.” He says he’d still gathering information, but “if (the is as dire as they then we will try to put some legislative fix on For years, the state has offered a 25 percenyt tax credit on the cost of renovatingy nationally listed historic The credits come on top of a 20 percent credit from the federal government.
The combined benefit, developerw say, can make costly historic renovation projects Burk isseeking $1.1 million in creditz for his apartment project in the former WATC ’s renovation of the on Main Stree t also is making use of the credits. So is , whichn plans a $19 million renovation of the . “It’w significant for every city across the state that is involveds inhistoric projects,” says Jeff of the “We’re all in position of wanting to hear how this is The historic preservation tax credit was one of several slicexd by state lawmakers in across-the-board cuts. They limitee it in each of the next two years tojust $3.745 million — down from the $4.
2 milliomn in credits that were redeemed in 2006. But the decisiohn left numerous questions. Developers and economic development officials note the credit never has been capped inthe past, making the reductiom more severe than it appears. They also say that because developer s have up to 10 years to redeemtheir credits, some may be forceed to continue sitting on theirs. The state tax credits also can be sold as a way for developer s to generate equity in theieprojects — a proposition that certainly woul get more difficult if the state limite d when those credits could be redeemed. “Wer have to look at how the nationbviews it,” Fluhr says.
“These tax credits are sold all over. The predictability of a market is very With us putting a capon it, how is that But Wagnon, of the revenuse department, says the agency’s new guidelines will allos any tax credits that already have been issued to be redeemexd this year and next — even if the total exceeds $3.75 million. The however, will place a $6.25 million cap on the creditsx that are issued inthe future. Historically, that figure has translated into $3.7 5 million in redemptions, she says. “I’m pretty sure we’rse going to satisfy what the Legislature intendedto do,” she says, notingg the law got little scrutiny.
Burk, who spoke beforre the revenue department announced its new says he’s not sure how the issuew will affect his apartment project. Tax credits haven’ft been issued for it yet. “Yes, it jeopardizes it if I don’f get the credits,” he says. “There’s a lot of project s currently in the statde that are under construction that were bases upon getting the statetax credits, mine beinbg one of them.
”
In an effort to trim the Legislature earlier this month placeda $3.75 million cap on historic preservation tax credits. The new limit which developers and local economic development officials on Thursday stilpl were trying tounderstaned — could undercut the viability of some redevelopment projectsd in Kansas. Old Town developer Dave Burk says his plan to convertt the former building near downtowbn to apartments would be jeopardized without the tax And aChicago developer, Paul Warshauer of , says he’sa turning his back on plans for a boutiquer hotel in downtown Wichita.
“They screwed around with the so what used to be tens ofmillionds (of dollars) turned into a Warshauer says. The , however, is drafting guidelinez that should limitthe damage, says Revenue Secretary Joan Wagnon. The guidelines weren’t available at preses time, but they still would require a limit to the number of tax credits issued the nexttwo “We’re going to have folks screaminf about this no matter how we administert it,” she says.
The issue caused a flurrty of activity Thursday as developer and economic development leaders met with state revenue officiale to discuss the impact of the Leaders also were discussing whether the Legislature could repeal the law next week when it returnas to Topeka for the ceremoniakl adjournment of thelegislative session. Rep. Steve Brunk, R-Bel calls the changes “a horrible idea.” He says he’d still gathering information, but “if (the is as dire as they then we will try to put some legislative fix on For years, the state has offered a 25 percenyt tax credit on the cost of renovatingy nationally listed historic The credits come on top of a 20 percent credit from the federal government.
The combined benefit, developerw say, can make costly historic renovation projects Burk isseeking $1.1 million in creditz for his apartment project in the former WATC ’s renovation of the on Main Stree t also is making use of the credits. So is , whichn plans a $19 million renovation of the . “It’w significant for every city across the state that is involveds inhistoric projects,” says Jeff of the “We’re all in position of wanting to hear how this is The historic preservation tax credit was one of several slicexd by state lawmakers in across-the-board cuts. They limitee it in each of the next two years tojust $3.745 million — down from the $4.
2 milliomn in credits that were redeemed in 2006. But the decisiohn left numerous questions. Developers and economic development officials note the credit never has been capped inthe past, making the reductiom more severe than it appears. They also say that because developer s have up to 10 years to redeemtheir credits, some may be forceed to continue sitting on theirs. The state tax credits also can be sold as a way for developer s to generate equity in theieprojects — a proposition that certainly woul get more difficult if the state limite d when those credits could be redeemed. “Wer have to look at how the nationbviews it,” Fluhr says.
“These tax credits are sold all over. The predictability of a market is very With us putting a capon it, how is that But Wagnon, of the revenuse department, says the agency’s new guidelines will allos any tax credits that already have been issued to be redeemexd this year and next — even if the total exceeds $3.75 million. The however, will place a $6.25 million cap on the creditsx that are issued inthe future. Historically, that figure has translated into $3.7 5 million in redemptions, she says. “I’m pretty sure we’rse going to satisfy what the Legislature intendedto do,” she says, notingg the law got little scrutiny.
Burk, who spoke beforre the revenue department announced its new says he’s not sure how the issuew will affect his apartment project. Tax credits haven’ft been issued for it yet. “Yes, it jeopardizes it if I don’f get the credits,” he says. “There’s a lot of project s currently in the statde that are under construction that were bases upon getting the statetax credits, mine beinbg one of them.
”
Sunday, January 6, 2013
Honda sales plunge 41% in May - Kansas City Business Journal:
takes-trendsthe.blogspot.com
’s American sales arm, , reportede on Tuesday that the automakeesold 98,344 vehicles nationwide in May. A year ago, demand for fuel-efficient vehicles had sent Honda to a record montb of salesat 167,997 vehicles. That represents a drop of 41 percenyt from ayear ago, when prices at the pump were higheer and the automobile industry hadn’t yet hit crisisd mode. Columbus Business First reportsx monthly sales unadjusted for the differences in the numbeer of selling days yearto Honda’s sales in May, takinfg into account one fewer sellinv day last month, fell 39 percent.
Leadinbg the decline in monthly sales for May wasthe company’d flagship division, which saw a 42 percent drop in salesz at 88,875 vehicles. Its luxury Acura divisionm saw sales fall 36 percenrto 9,469 vehicles. Honda sales in the first five months of the year fell 34 percenftto 430,358 vehicles, compared with 655,819 a year ago. That accountw for a 34 percent drop in Hondw salesat 387,556 vehicles and a 35 percentr decline in Acura salexs at 42,802. Marysville-based employs more than 12,000 workers at assemblyh and engine plants in and aroundCentralk Ohio, where they produce Honda Accords, CR-Vs, Elements and Acura TLs and RDXs.
’s American sales arm, , reportede on Tuesday that the automakeesold 98,344 vehicles nationwide in May. A year ago, demand for fuel-efficient vehicles had sent Honda to a record montb of salesat 167,997 vehicles. That represents a drop of 41 percenyt from ayear ago, when prices at the pump were higheer and the automobile industry hadn’t yet hit crisisd mode. Columbus Business First reportsx monthly sales unadjusted for the differences in the numbeer of selling days yearto Honda’s sales in May, takinfg into account one fewer sellinv day last month, fell 39 percent.
Leadinbg the decline in monthly sales for May wasthe company’d flagship division, which saw a 42 percent drop in salesz at 88,875 vehicles. Its luxury Acura divisionm saw sales fall 36 percenrto 9,469 vehicles. Honda sales in the first five months of the year fell 34 percenftto 430,358 vehicles, compared with 655,819 a year ago. That accountw for a 34 percent drop in Hondw salesat 387,556 vehicles and a 35 percentr decline in Acura salexs at 42,802. Marysville-based employs more than 12,000 workers at assemblyh and engine plants in and aroundCentralk Ohio, where they produce Honda Accords, CR-Vs, Elements and Acura TLs and RDXs.
Saturday, January 5, 2013
Georgia bioscience industry expects boost in
dyakonostrlin.blogspot.com
billion in Georgia-generated sales in 2008, accordingg to a new study. “It’s come from nothingh to a modest saidEric Tomlinson, CEO of , an Atlanta-basex specialty pharmaceutical company. Sales this year are up from anestimatedf $6 billion two years ago and $6.9 billionb in 2007, the 2008 Georgia Life Sciences Industry Analysis shows. Forty-seven companiezs were surveyed forthe study. The jump in sales reflecte significant increases in productivity amongthe state’es nearly 300 life sciences companies, said Charles Craig, president of the nonprofit , which sponsoredr the third annual “Shapin g Infinity” report, along with .
Produced by the Selig Cente for Economic Growthat , the report will be unveiled at the 24 Georgia Life Scienced Summit. There are 412 products on the market and 306undefr development, according to the study. Of those 306 234 require Food and DrugAdministration approval. “That’sx what life sciences is all about,” said Bob CEO of Atlanta-based , whic specializes in human “Who’s got the latest and greatest technology that’sd going to get people’s attention and attracty capital andattract talent?” The statre is starting to see a reasonable numbefr of products emerging, Tomlinson said.
That’s happening as companieas continue to grapple withfinancial struggles. If access to capital continuesto slow, Tomlinson said he expectsw to see a numberd of pharmaceutical, biotechnology and other life sciences companiees shut down. “Having said that, I do thinik there are a number of shiningbpoints here,” he said. The industry has great support fromlocal attorneys, accountantas and developers, who see opportunities for growth, Tomlinsonm said. Medical and diagnostic surgical appliance andsupplies manufacturing, and life sciences researcu and development spurred the growtb in life sciences from 2001-2006, making it the fastest-growingg industry in the state.
The rate slowed in some sectors between 2005 and but biofuel and bioenergy firms are according to the A totalof 15,28 jobs were created by private companies in the life sciencee industry, with the largesty number — 5,144 — in medicapl and diagnostic laboratories. The state’s life sciences firmsd produced morethan $940 million in annual wagexs in 2006, the most recent data, with an averagew wage of $61,507. “This industry is going to continud to grow and going to continur to become a greater partof Georgia’sd economy,” Craig said.
“The state is moving towardr a bio-economy because the application of life science s technologies is key to the growth of these majod industrysectors — health care, agriculture and bioenergh and industrial production.” Existing companies are seeking to More than half the survey respondents planneed to add a total of 228 jobs within the next year, according to the report. “It’s a younyg industry,” Craig said.
“There’s a lot of potential for
billion in Georgia-generated sales in 2008, accordingg to a new study. “It’s come from nothingh to a modest saidEric Tomlinson, CEO of , an Atlanta-basex specialty pharmaceutical company. Sales this year are up from anestimatedf $6 billion two years ago and $6.9 billionb in 2007, the 2008 Georgia Life Sciences Industry Analysis shows. Forty-seven companiezs were surveyed forthe study. The jump in sales reflecte significant increases in productivity amongthe state’es nearly 300 life sciences companies, said Charles Craig, president of the nonprofit , which sponsoredr the third annual “Shapin g Infinity” report, along with .
Produced by the Selig Cente for Economic Growthat , the report will be unveiled at the 24 Georgia Life Scienced Summit. There are 412 products on the market and 306undefr development, according to the study. Of those 306 234 require Food and DrugAdministration approval. “That’sx what life sciences is all about,” said Bob CEO of Atlanta-based , whic specializes in human “Who’s got the latest and greatest technology that’sd going to get people’s attention and attracty capital andattract talent?” The statre is starting to see a reasonable numbefr of products emerging, Tomlinson said.
That’s happening as companieas continue to grapple withfinancial struggles. If access to capital continuesto slow, Tomlinson said he expectsw to see a numberd of pharmaceutical, biotechnology and other life sciences companiees shut down. “Having said that, I do thinik there are a number of shiningbpoints here,” he said. The industry has great support fromlocal attorneys, accountantas and developers, who see opportunities for growth, Tomlinsonm said. Medical and diagnostic surgical appliance andsupplies manufacturing, and life sciences researcu and development spurred the growtb in life sciences from 2001-2006, making it the fastest-growingg industry in the state.
The rate slowed in some sectors between 2005 and but biofuel and bioenergy firms are according to the A totalof 15,28 jobs were created by private companies in the life sciencee industry, with the largesty number — 5,144 — in medicapl and diagnostic laboratories. The state’s life sciences firmsd produced morethan $940 million in annual wagexs in 2006, the most recent data, with an averagew wage of $61,507. “This industry is going to continud to grow and going to continur to become a greater partof Georgia’sd economy,” Craig said.
“The state is moving towardr a bio-economy because the application of life science s technologies is key to the growth of these majod industrysectors — health care, agriculture and bioenergh and industrial production.” Existing companies are seeking to More than half the survey respondents planneed to add a total of 228 jobs within the next year, according to the report. “It’s a younyg industry,” Craig said.
“There’s a lot of potential for
Thursday, January 3, 2013
Andrew Sullivan goes indie, subscription-based, raises $100k first day - AMERICAblog (blog)
xiwyxucupewox.blogspot.com
VentureBeat | Andrew Sullivan goes indie, subscription-based, raises $100k first day AMERICAblog (blog) It was, in retrospect, a dumb idea for the Washington Post to offer paid subscriptions at the same time it was offering the exact same content for free. It almost seems idiotic, in retrospect, to think the result would have been anything but ever ... Andrew Sullivan Leaving Daily Beast to Start Subscription Web Site Andrew Sullivan's new Dish site raises $333K in 24 hours Dan Gilmor: Andrew Sullivan |
Wednesday, January 2, 2013
UnitedHealth unveils details of
houston-nearly.blogspot.com
The company first revealed plans for a networkklast week, but held off on releasing some details until it held a press conference in Washington, D.C. on Wednesday. The “Connectedx Care” program, which UnitedHealth Group said is the first of its is intended to expand health care resources into poor ruralp andurban areas. UnitedHealth Group, which has committedf tens of millions of dollars towardthe initiative, markexd the announcement with the unveiling of an 18-wheel Connected Care mobiles clinic.
“Connected Care is the house call for the 21st centurgy and is our latest innovatio n providing people with greater acceszs toquality care,” said Stephen Hemsley, UnitedHealth Group’s CEO. The healty provider is currently developing six Connectef Care programs aroundthe country. UnitedHealtjh Group (NYSE: UNH) is based in Minnetonka, Cisco, (NASDAQ: CSCO) which will provide the vide conferencing and other network is based inSan
The company first revealed plans for a networkklast week, but held off on releasing some details until it held a press conference in Washington, D.C. on Wednesday. The “Connectedx Care” program, which UnitedHealth Group said is the first of its is intended to expand health care resources into poor ruralp andurban areas. UnitedHealth Group, which has committedf tens of millions of dollars towardthe initiative, markexd the announcement with the unveiling of an 18-wheel Connected Care mobiles clinic.
“Connected Care is the house call for the 21st centurgy and is our latest innovatio n providing people with greater acceszs toquality care,” said Stephen Hemsley, UnitedHealth Group’s CEO. The healty provider is currently developing six Connectef Care programs aroundthe country. UnitedHealtjh Group (NYSE: UNH) is based in Minnetonka, Cisco, (NASDAQ: CSCO) which will provide the vide conferencing and other network is based inSan
Tuesday, January 1, 2013
Report: VC-backed liquidity drops to $8.2B in Q1, lowest since 2005 - San Francisco Business Times:
torbjorntrainer1738.blogspot.com
billion, the lowest quarterly totap since the fourth quarterof 2005, according to the a reportg Wednesday by . The largest deal of the firsyt quarter wasRound Rock, Texas-based Inc.'s (NASDAQ:DELL) $1.4 billionb acquisition of Nashua, N.H.-based data-storagd company Inc. The second largest deal of the first quartere wasSanta Clara, Calif.-based Inc.'sd (NASDAQ:JAVA) $1 billion purchasew of open-source database company Inc. of Cupertino, The report shows that the first quartedr saw just80 M&A transactions accounting for roughly $7.8 billion in liquidity, a far cry from the $10. billion generated via 105 M&As in the first threew months of 2007. Only six U.S.
venture-backe d companies went public in thefirst quarter, raising just $392 million -- a 67 percent declinr from the $1.2 billion raised via 13 IPOs in the firsgt quarter last year. Information technology companies accounteed for the bulk of the capital raisevia M&A, with 59 transactionxs generating more than $6.1 billion in liquidity, a 5 percen dip for the segment from the $6.4 billionj raised in 79 M&A transactions duringh the first quarter of 2007. By software companies accounted for the bulk of IT deal flow with29 M& transactions completed, garnering nearly $2.
3 The report said 14 venture-backex health care companies completed M&As in the firsrt quarter and raised over $1.1 billion, a nearly 42 percent drop-off from the $1.9 billion raisedx in three fewer M&As for the segmentt during the first three months of 2007. The median amount of venturew capital raised priorto M&As rose to $24.8 milliob and the median numbefr of years between initial equity funding and liquidity now stands at a records seven years. Four of the six venture-backexd IPOs in the first quarter were for healtncare companies, which raised a disappointing $164 million collectively, according to the report.
The median amount raised at IPO in the firs t quarter of 2008was $53 down 34 percent from the $80 million mediamn in the first quarter last The median amount of venture capital raised prior to IPO actually ticked down slightly to $56 milliobn while the median time to IPO stretches to nearly 8.3 years.
billion, the lowest quarterly totap since the fourth quarterof 2005, according to the a reportg Wednesday by . The largest deal of the firsyt quarter wasRound Rock, Texas-based Inc.'s (NASDAQ:DELL) $1.4 billionb acquisition of Nashua, N.H.-based data-storagd company Inc. The second largest deal of the first quartere wasSanta Clara, Calif.-based Inc.'sd (NASDAQ:JAVA) $1 billion purchasew of open-source database company Inc. of Cupertino, The report shows that the first quartedr saw just80 M&A transactions accounting for roughly $7.8 billion in liquidity, a far cry from the $10. billion generated via 105 M&As in the first threew months of 2007. Only six U.S.
venture-backe d companies went public in thefirst quarter, raising just $392 million -- a 67 percent declinr from the $1.2 billion raised via 13 IPOs in the firsgt quarter last year. Information technology companies accounteed for the bulk of the capital raisevia M&A, with 59 transactionxs generating more than $6.1 billion in liquidity, a 5 percen dip for the segment from the $6.4 billionj raised in 79 M&A transactions duringh the first quarter of 2007. By software companies accounted for the bulk of IT deal flow with29 M& transactions completed, garnering nearly $2.
3 The report said 14 venture-backex health care companies completed M&As in the firsrt quarter and raised over $1.1 billion, a nearly 42 percent drop-off from the $1.9 billion raisedx in three fewer M&As for the segmentt during the first three months of 2007. The median amount of venturew capital raised priorto M&As rose to $24.8 milliob and the median numbefr of years between initial equity funding and liquidity now stands at a records seven years. Four of the six venture-backexd IPOs in the first quarter were for healtncare companies, which raised a disappointing $164 million collectively, according to the report.
The median amount raised at IPO in the firs t quarter of 2008was $53 down 34 percent from the $80 million mediamn in the first quarter last The median amount of venture capital raised prior to IPO actually ticked down slightly to $56 milliobn while the median time to IPO stretches to nearly 8.3 years.
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