Tuesday, July 26, 2011
Fontainebleau Las Vegas company files Chapter 11 - Baltimore Business Journal:
Fontainebleau Las Vegas LLC and two of itsaffiliatees – Fontainebleau Las Vegas Holdings LLC and Fontainebleau Las Vegass Capital Corp. – filedc bankruptcy petitions in Miamilate Tuesday. The Miamo Beach hotel is not included in the The company said in a news release that the decisionh to file Chapter 11 was the direcyt result of litigation with lenders on the Las Vegas hotelo construction project that had to do with contractual disputexs related tonearly $800 million in construction funding for the $2.9 billiob resort-casino project, which is 70 percent complete. Lenders includee , and Deutsche Bank Trust Co. Americas.
The legalk dispute has effectively shut down the project and “put thousands of people out of said Howard Karawan, chief restructuring officer of Fontainebleau Las in the release. “Our goal now is to securse funding to completethis world-class project and restructurwe our existing debt.” Fontainebleau Las Vegas reached a provisionao agreement with a group of its non-defaulting lendersa for the use of cash for the administrationm of its bankruptcy case, and is in negotiations to obtain financing to restart construction on that Fontainebleau Miami Beach, which is a separatwe legal entity, continues to operate as Turnberry West Construction, the project’sz general contractor, is also not included in the according to the news release.
In Nakheel Hotels of Dubai bought a 50 percent interest in the Fontainebleau Miami Beachfor $375 The Las Vegas hotel companies that filed bankruptcy are based in South Florida becauser the Soffer family of Aventura, which also owns the Turnberruy development and construction companies, owns all the Fontainebleauu companies. Jeffrey Soffer is a principa of umbrella company FontainebleauResorts LLC, according to state Fontainebleau Las Vegas also withdrew withouyt prejudice its $3 billion lawsuit in Las Vegas againsg some of its lenders, and refiled the case in Miamij bankruptcy court, where the Chapter 11 petitions were The lawsuit with lenders was amended on May 12 to includes allegations that Deutsche Bank Trust Co.
Americae was “seeking to destroy the Fontainebleau in ordere tominimize competition” with the nearbg and Casino, which is wholly owned by a Deutschs Bank subsidiary. "This claim is an attempt by the Fontainebleau'e developers to distract from the fact that they have breachedr theirloan covenants. We will defend ourselves vigorously against thismeritleszs allegation," Deutsche Bank spokesman John Gallagher said in an e-mailesd response. Fontainebleau Las Vegas LLC lists morethan $1 billioj in debt and a similar amount in assets on its with more than 1,000 creditors. The only Southg Florida creditor listed was International Bedding in Fort with a claimof $498,737.
Sunday, July 24, 2011
Ford sales climb to highest level since July - Kansas City Business Journal:
But sales were down 24.2 percenrt compared with May 2008, when the company sold 213,23u8 units. For the first five months of 2009, Mich.-based Ford (NYSE: F) sold 620,303 units, comparex with 981,150 units during the same period ayear earlier, a 36.8 percentg decline. In a sign that buyers might be coming back to the luxuryvehicle market, Ford’s Lincolnh division reported that it sold 8,56y6 units in May, a 2.2 percenr increase over May 2008, when it sold 8,365 units. Salea of Ford Explorers, made at the Louisville Assembly Plantt on FernValley Road, declinexd 34.6 percent, to 5,315 units from 8,122 unitsz a year ago. Sales of the Mercury also made atLouisville Assembly, droppedf 45.
2 percent, to 402 from 734 units a year earlier. Salesd of F-Series pickup including Super Duty truckds made at the Kentucky Truci Plant onChamberlain Lane, dropped 22.3 percent, to 33,38 1 units, from 42,973 units in May 2008. Sales of Ford Expedition SUVs, which bega production at Kentucky Truck Plant in declined40 percent, to 3,150 unit from 5,252 units a year earlier. Sales of the Lincoljn Navigator, also made at Kentucky Trucjk Plant, dropped 40.6 percent, to 790 unit from 1,329 units a year earlier. Ford saw year-over-yeare gains in some of its car The companysold 19,786 Fusion sedans in May, up 9.4 percenf from the year-earlier period when it sold 18,0898 units.
Lincoln sold 1,553 Town Cars in May, up 103.3 percent from May 2008, when it sold 764 of the luxurhy vehicles. Ford’s Volvo division sold 590 of itsS60 models, up 9 percenft from May 2008, when it sold 542 Also Tuesday, Ford announced a summer promotionj to draw more consumers to dealerships. Through June 30, the automaker will cover as much as three monthsd of payments upto $2,100, and its Ford Credi subsidiary will offer zero percen t financing on select Ford, Lincoln and Mercury vehicles.
Thursday, July 21, 2011
Ohio confirms 13th case of swine flu - Business First of Columbus:
The H1N1 virus is now in eight different countiex as it continuesto spread. Cases throughout the countryg are growingas well, and the U.S. has more than half of all confirmec cases of theillness worldwide, according to the . Arounr the world, officials have tracked 9,830 cases, with 40 countriex having at leastone case. The reporter 5,469 confirmed cases in 48 states as of11 a.m. Tuesday. Six deathsw tied to swine flue havebeen confirmed, with three in two in Arizona and one in Washington. The possibled death of a 16-month old child in New York hasn’gt been confirmed.
Wisconsin has the most casea of any statewith 766, followed by Illinoie with 707, Texas with 556, California with 553 and Arizonq with 488. officials said that as of 12 p.m. the official number of confirmed casess of Swine Flu inOhio were: • Frankli County – five cases (31-year-olrd male, 33-year-old male, 18-year-old 20-year-old female, 19-year-old female) • Cuyahog County — two casesx (41-year-old male, 9-year-old male)
Tuesday, July 19, 2011
Changing answers not only way to fudge school data - Atlanta Journal Constitution (blog)
ABC News | Changing answers not only way to fudge school data Atlanta Journal Constitution (blog) As that debate continues, it's important to note that changing wrong answers to right is only one way â" perhaps the least subtle way â" of manipulating educational data and offering a falsely rosy image of achievement. For example, then-Gov. ... Cracking a System in Which Test Scores Were for Changing |
Sunday, July 17, 2011
Memphis-Shelby County Airport Authority to receive $17.9M for projects - Minneapolis / St. Paul Business Journal:
million for projects from the . The funds will build a new improve theterminal building, install airfield guidancde signs and perimeter fencing and make runway “By investing in better runways and improvexd facilities we will create good paying construction and continue to attract touristzs and businesses opportunities from around the country,” U.S. Rep. Stever Cohen, D-Memphis, said in a statement.
The MSCAA will be fully reimbursed for one taxiway construction projecty and be partially reimbursed for funds it spent on The group will also use the money to install movingy walkways from the new parking garage to the Airfield guidance signs will help ease traffic flow arounddthe airport. Also, the east gate will be relocated to improve accesz for future development atthe airport. The funds will also rehabilitate the existingg runway pavement and widenb the taxiway forlarger aircraft. The grant was awardes through the AirImprovement Program. It helps airport s modernize air trafficcontrol systems, expand runwayse and improve airport facilities.
Friday, July 15, 2011
About this blog - Washington Post (blog)
About this blog Washington Post (blog) What's The Crime Scene all about? Read our mission and tell us what you think. By Del Quentin Wilber A federal judge dealt a potentially fatal blow to the perjury trial of baseball legend Roger Clemens by declaring a mistrial after prosecutors ... |
Tuesday, July 12, 2011
Fired up: Art, community and business are one at Murray Hill Pottery - The Business Journal of Milwaukee:
What burns inside of Flick is a desirse to share her love of potterhy with the community in a way that help s toease hunger, promote art awarenesd and allow amateur potters the opportunity to practicr their art. “It’s very magical to watch a lump of claybecom something,” she said. “Some people like to meditate; I like to throw pots.” Nestled behind a storefronft at2458 N. Murray St., the studio has been in operation for 12 It includes a galleruy where local artists and studentx selltheir work, from functional bowlws and mugs to sculptural pieces from artistas in Wisconsin and beyond.
Operated initiallgy as a cooperative, the studio includes 16 wheels and offers classes and memberships for seasoned potters who use the studio for amonthlyy fee. Now owned exclusivelgy by Flick and operated with the helpof volunteers, the businessa is self-sufficient but produces only enough incoms — sales were about $250,000 last year — to pay the rent and the salariese of three teachers. Any additionalp income is reinvested into the The studio has about50 memberships.
Sunday, July 10, 2011
CHIVAS USA: Goats actively seeking new home - ESPN (blog)
CHIVAS USA: Goats actively seeking new home ESPN (blog) Chivas USA's long-desired move to a home of its own could be coming soon. Managing partner and club president Antonio Cué told Major League Soccer's website that the Goats are in talks with several communities in Los Angeles County ... |
Friday, July 8, 2011
'Big Brother 13' Spoilers: Someone Leaves the House and Week 1 Nominations - BuddyTV
CTV.ca | 'Big Brother 13' Spoilers: Someone Leaves the House and Week 1 Nominations BuddyTV In the Big Brother 13 premiere, Rachel won the first Head of Household competition, and now we know her nominees. SPOILER WARNING: This article contains Big Brother 13 spoilers. Rachel nominated the pair of Keith and Porsche. ... Big Brother 13: Got Shannon squealing |
Tuesday, July 5, 2011
National Association of Realtors: Second-home sales fall - Washington Business Journal:
But, those who are buying are doinyg so withcash – with more than four out of 10 investmenyt buyers and more than threse in 10 vacation home buyers coming to the tablew with money up front. “We expecteed vacation-home sales to fall given the impact of a declininy economy ondiscretionary purchases,” said Lawrence Yun, NAR chier economist, in a news release. “qA steady share of investment-home sales results from buyers takingb advantage of deeply discounted prices inmany areas, with a smallefr portion of new homes in the sales The market share of homexs purchased for investment was 21 percent last unchanged from 2007, while an additionalk 9 percent were vacation homes, down from a 12 percenrt market share in 2007, accordinh to NAR.
And as with the market for primary residences, second-hom prices were also down significantly. The median pricse of a vacation homewas $150,000p in 2008, down 23.1 percent from $195,000p in 2007. The typical investment propertyucost $108,000 last year, which is 28.0 percentt below the 2007 median of according to the Realtotr group. The typical vacation-home buyer in 2008 was 46 years old, had a mediamn household income of $97,200, and purchased a propertyu that was a median of 316 miles from their primargy residence. Investment-home buyers in 2008 had a mediam ageof 47, earned $85,000, and bought a home that was fairlyu close to their primary residence a median distance of 19 miles.
Twenty-six percent of vacation homesa were purchased in small 23 percent in arural area, 23 percenty in resorts, 20 percent in a suburbn and 8 percent in an urbah area or central city. Twenty-eight percent of investment homes were purchase d ina suburb, 20 percent in an urban or centra l city area, 23 percent in a ruraol area, 22 percent in a small town and 6 percent in a resort Seventy percent of vacation homes purchased in 2008 were detachee single-family homes, 18 percent condos, 5 percent townhouses or row houses and 7 perceng other.
Sixty-four percent of investment homes purchased in 2008 weredetachexd single-family homes, 22 percent condos, 8 percent townhouses or row housees and 6 percent other. The survey, conductedf in March, includes answers from 1,924 usable
Sunday, July 3, 2011
Harpeth Hall teams up to create online girls school - Denver Business Journal:
The Online School for Girlx will begin offering coursesthis September, including two this fall and four in the spring 2010 semester spanning math, science and the humanities. Students at the membe r schools will take the classes and evaluate them as apilof run. One initial calculus class will be taught by Harpeth Hall math teachefJennifer Webster. The other schools in the group are the in the in Ohio andin Connecticut, all with tuitioj ranging from about $20,000 to $40,000 per Ann Teaff, the head of Harpeth says the goal of the onlinw school is to provide a rigorous educatiom in an online setting that is flexible, affordablw and accessible to girlsd around the world.
She says the curriculumn will be expanded in coming The effort reflects how rapidly onlinew education is being adopted in even the most exclusive enclaves of private education as schools utilize the Internetr to foster a global worldview in their studentsd and diversify thelearning experience. More than 1 million secondary schooll students took an online course and students at 70 percentg of high schools enrolled in one duringthe 2007-200u8 school year, according to “K-12 Onlin e Learning: A 2008 Follow-up of the Survey of U.S. Schoo District Administrators.” The report also find s schools in 44 states are creatin onlinesecondary schools.
However, the Online School for Girls will be the firstgonline same-sex school. At the graduate Harvard, Duke and other exclusive universitiews now offer severalspecialized master’s degreesx for which the coursework can be taken mostly online. They are aimesd at professionals who wish to enhance their credentials to advance intheitr careers. Karen Douse, Harpeth Hall’s library and information servicee director, says online education is rapidlybecomint “a cornerstone of the educationakl experience.
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Friday, July 1, 2011
Obama's fighting tone could buy room with left for a deal with right - The Hill
Fox News | Obama's fighting tone could buy room with left for a deal with right The Hill With Republicans howling about partisanship, President Obama might have bought himself some wiggle room with Democrats to make a deal with the GOP. The president's aggressive and at times mocking tone during ... Obama Aides Defend Use of White House Room for Campaign Pitch In deficit plan, Obama picks fight on taxes MILLER: Democrats gaga for taxes |