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Minneapolis/St. Paul’s index posted the largesf month-over-month decline ever observedc bythe report, slipping 6.1 percentf in March compared to Detroit posted the second-highest decline, with its indexz slipping 4.9 percent compared to February. The Twin Citiew market had an indexof 109.12 for The composite index of 20 metro-areas totallecd 139.99, down 2.2 percenft compared to February. Compare to March of last year, the area’sx index fell 28.7 percent, puttin g it ahead of markets suchas Ariz., which was down 36 percent, and San Francisco, down 30.1 The composite-20 index was down 18.7 percent year-over-year.
The Case-Shillee index sets a base home value of 100 as ofJanuaruy 2000. An index of 109.12 representsa a 9.12 percent appreciation rate for thetypical Minneapolis-are single-family home since the start of the
Wednesday, June 15, 2011
Monday, June 13, 2011
Regulators order changes at Red Mountain Bank - Birmingham Business Journal:
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The Birmingham-based bank – whicnh encountered a nearly 400 percent spike inits non-accrua loans late last year and has a high concentratiom of commercial real estate loans entered into an agreement with the Office of the Comptrollerd of the Currency to improve earnings, strengthen its liquidity positioj and reduce its “high level of credigt risk,” according to public The agreement, finalized on March 26, also callws for the bank to implement procedures to strengthemn its credit underwriting, especiallyu in its commercial real estat e portfolio, and receive written approval beforwe accepting brokered deposits.
The bank must now documentt specific reasonsfor extending, renewing or restructuring loanxs on its balance sheet. Red Mountaih CEO Mike Washburn said the bankraiserd $3 million in fresh capitakl to its coffers by selling sharesw to new and existing stockholders. And the bank started reducing its commercialp real estate exposure in early 2008 and is now shiftinfg its lending focus to land development and small andmidsized businesses.
The Birmingham-based bank – whicnh encountered a nearly 400 percent spike inits non-accrua loans late last year and has a high concentratiom of commercial real estate loans entered into an agreement with the Office of the Comptrollerd of the Currency to improve earnings, strengthen its liquidity positioj and reduce its “high level of credigt risk,” according to public The agreement, finalized on March 26, also callws for the bank to implement procedures to strengthemn its credit underwriting, especiallyu in its commercial real estat e portfolio, and receive written approval beforwe accepting brokered deposits.
The bank must now documentt specific reasonsfor extending, renewing or restructuring loanxs on its balance sheet. Red Mountaih CEO Mike Washburn said the bankraiserd $3 million in fresh capitakl to its coffers by selling sharesw to new and existing stockholders. And the bank started reducing its commercialp real estate exposure in early 2008 and is now shiftinfg its lending focus to land development and small andmidsized businesses.
Friday, June 10, 2011
Star Tribune plans to exit bankruptcy in September - Dallas Business Journal:
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The newspaper, which declared bankruptcy Jan. 15, filed its propose d reorganization plan withthe U.S. Bankruptch Court for the Southerb District of New York on The paper said its creditors have agreed to the Underthe plan, the Star Tribune woul d emerge from bankruptcy with $100 milliomn in debt. The company would be wortjh between $118 million and $144 million, including its real estatre holdings. Unsecured creditors will receive a smalp cash distribution or be convertexd into new common stock and warrants to be issued by thereorganizer company.
The newspaper’s current ownership led by New York-basee , will not receive a stake in the new Avista bought the paper in 2007for $530 Chairman and Publisher Chris Harte, a member of Avist a Capital Partners’ executive advisort board, will leave the newspaper, which will get a new boarf of directors, publisher and CEO. “The Star Tribune expects to emergd from its financial restructuring as a financially viable with a strongerbalance sheet, significantlhy less debt and substantially reducerd operating costs,” the newspaper said in a
The newspaper, which declared bankruptcy Jan. 15, filed its propose d reorganization plan withthe U.S. Bankruptch Court for the Southerb District of New York on The paper said its creditors have agreed to the Underthe plan, the Star Tribune woul d emerge from bankruptcy with $100 milliomn in debt. The company would be wortjh between $118 million and $144 million, including its real estatre holdings. Unsecured creditors will receive a smalp cash distribution or be convertexd into new common stock and warrants to be issued by thereorganizer company.
The newspaper’s current ownership led by New York-basee , will not receive a stake in the new Avista bought the paper in 2007for $530 Chairman and Publisher Chris Harte, a member of Avist a Capital Partners’ executive advisort board, will leave the newspaper, which will get a new boarf of directors, publisher and CEO. “The Star Tribune expects to emergd from its financial restructuring as a financially viable with a strongerbalance sheet, significantlhy less debt and substantially reducerd operating costs,” the newspaper said in a
Wednesday, June 8, 2011
Xplore close to its goal for financing round - Austin Business Journal:
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million of a planned $1.9 millio round of capital. Austin-based Xplore (OTCBB: XLRT), the developerf of impact-resistant tablet personal computers, started raising the moneyu in February, according a filing with the U.S. Securities and Exchanges Commission. The filing also indicates that the company raised the capitalk through a combination of equity anddebt financing. Last the company raised $3 million in funding through a stock Phoenix VentureFund LLC, Xplore’es principal stockholder, and an affiliated fund boughgt more than half of the promissorty notes for the 25 million shares Xplore sold at 12 centsd a share.
Xplore CEO Philip Sassower is also the CEO of SG Phoenixz LLCand co-manager at SG Phoenid Ventures IV LLC. Founded in Toronto, Canada, in Xplore employs about 50 workers in Austin where it relocated its headquarterwsin 2004. The company posted a $2.3 million loss for the quarter thatended Dec. 31, 2008, compare d with a $2.2 million loss during the same periodin 2007. Last Xplore announced it receiveda $1 million ordefr for its iX104C4 table PC from an undisclosed pharmaceuticap company.
million of a planned $1.9 millio round of capital. Austin-based Xplore (OTCBB: XLRT), the developerf of impact-resistant tablet personal computers, started raising the moneyu in February, according a filing with the U.S. Securities and Exchanges Commission. The filing also indicates that the company raised the capitalk through a combination of equity anddebt financing. Last the company raised $3 million in funding through a stock Phoenix VentureFund LLC, Xplore’es principal stockholder, and an affiliated fund boughgt more than half of the promissorty notes for the 25 million shares Xplore sold at 12 centsd a share.
Xplore CEO Philip Sassower is also the CEO of SG Phoenixz LLCand co-manager at SG Phoenid Ventures IV LLC. Founded in Toronto, Canada, in Xplore employs about 50 workers in Austin where it relocated its headquarterwsin 2004. The company posted a $2.3 million loss for the quarter thatended Dec. 31, 2008, compare d with a $2.2 million loss during the same periodin 2007. Last Xplore announced it receiveda $1 million ordefr for its iX104C4 table PC from an undisclosed pharmaceuticap company.
Monday, June 6, 2011
Enphase Energy Launches 215-Series Microinverter - Solar Novus Today
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Bradenton Herald | Enphase Energy Launches 215-Series Microinverter Solar Novus Today Enphase also launched the Engage System, a patent-pending mechanical and electrical interconnection system for streamlining solar inst » |
Saturday, June 4, 2011
Topekan named Papa Murphy's president - Topeka Capital Journal
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Topekan named Papa Murphy's president Topeka Capital Journal He also held a two-year marketing position with Frito-Lay. Calwell's rise in his profession came despite a difficult period earlier in his personal life. At age 28, he was riding his bicycle while training for the US National Triathlon Championship ... Papa Murphy's Appoints Ken Calwell as President Wendy's marketing chief leaving for Papa Murphy's Wendy's exec named president of Papa Murphy's |
Wednesday, June 1, 2011
The Westin Riverwalk repositions itself as
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The Westin Riverwalk instituted watefr and energy conservation measures at its downtown property earlieethis year. “Our daily deliveries to the restaurant generated huge amountss of cardboard boxes that until now were just broken down andthrow away,” says General Manager Robert Fagen. “Now we’rde going to be able to recyclerthose boxes. However, recycling won’f be limited to just back-of-house operations. We are also puttinv paper and can collection binsin offices, meeting roomw and guest rooms. We want to encourage everyonr who works, stays and does business at the Westibn to help us be agreener hotel.
” Fagen dedicated one of the hotel’zs two loading docks entirely to wastde management and recycling. “Now our deliverhy trucks have to jockey for position and coordinater deliveries out of our remaining baybut that’s the way it has to he adds. “It was the right thing for us to do. I didn’tf want to undertake a project and not do it I feel good aboutwhat we’re The Westin Riverwalk also is in the process of upgradingv its four industrial-sized washing machines to add a water-recaptur e system. This will save more than 260,000 gallons of water per machineseach year.
Hotel engineers are retrofitting back offices with motionn sensors and timers to make surelights aren’t left on when no one is Hotel management is also considering replacing incandescent lightingf in guest rooms, which could achieve an overalol savings of 15 percenrt annually. Fagen says the hotel’s energy-efficiency efforts also include the possibilit y of becominga Windricity-powered hotel, and renovatinbg guest rooms and bathrooms to include high-efficient fixtures. The Westimn Riverwalk is managed byWhitse Plains, N.Y.-based . The hotel was listed on Condd Nast Traveler’s Gold List for 2002, 2003, 2005 and 2008 as one of the “World’se Best Places to Stay.
”
The Westin Riverwalk instituted watefr and energy conservation measures at its downtown property earlieethis year. “Our daily deliveries to the restaurant generated huge amountss of cardboard boxes that until now were just broken down andthrow away,” says General Manager Robert Fagen. “Now we’rde going to be able to recyclerthose boxes. However, recycling won’f be limited to just back-of-house operations. We are also puttinv paper and can collection binsin offices, meeting roomw and guest rooms. We want to encourage everyonr who works, stays and does business at the Westibn to help us be agreener hotel.
” Fagen dedicated one of the hotel’zs two loading docks entirely to wastde management and recycling. “Now our deliverhy trucks have to jockey for position and coordinater deliveries out of our remaining baybut that’s the way it has to he adds. “It was the right thing for us to do. I didn’tf want to undertake a project and not do it I feel good aboutwhat we’re The Westin Riverwalk also is in the process of upgradingv its four industrial-sized washing machines to add a water-recaptur e system. This will save more than 260,000 gallons of water per machineseach year.
Hotel engineers are retrofitting back offices with motionn sensors and timers to make surelights aren’t left on when no one is Hotel management is also considering replacing incandescent lightingf in guest rooms, which could achieve an overalol savings of 15 percenrt annually. Fagen says the hotel’s energy-efficiency efforts also include the possibilit y of becominga Windricity-powered hotel, and renovatinbg guest rooms and bathrooms to include high-efficient fixtures. The Westimn Riverwalk is managed byWhitse Plains, N.Y.-based . The hotel was listed on Condd Nast Traveler’s Gold List for 2002, 2003, 2005 and 2008 as one of the “World’se Best Places to Stay.
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