disadvantage-unlimited.blogspot.com
company for $33.9 million, and the new owner hopes to rejuvenatwethe development. recently bought the Charlotte East park onAlbemarlw Road, just east of Independence Boulevard. The office park, constructex between 1973 and 1985, contains 11 buildingz totaling 535,000 square About 173,000 square feet is vacant. The spacs leases for $14 per squarw foot. Kellogg bought Charlotte East from Robinsonn DevelopmentGroup Inc. of Norfolk, Va. Robinson had acquireds the park in April 2005for $28 millio n from Miami-based LNR Properties. The purchase marks Kellogg'as debut in Charlotte. The company's interestf in the park stems from the fact that Charlottee East is a former KogerEquity Inc.
property, says Glendqa Snelgrove, Kellogg director of acquisitions. Kellogfg owns two former Kogert properties in Jacksonville and has found successe in upgrading and recasting them to suitthe market's demands, she says. Kelloggg expects the same performance in she adds. "Some of these properties lend themselves to renovatingand upgrading. We think we'vw found our niche." The park'sx tenants include MedClaim Inc., the Social Security Easter Seals, the Presbytery of Charlotte and several state and locaplgovernment agencies. Ryan Clutter of the local offices of CB Richard Ellis was lead listinyg agent inthe sale.
Kellogg has retainee Jessica Brown and Eric Speckman of CB to handlew leasing and management of the Brown and Speckman also had those responsibilitiesaunder Robinson's ownership.
Monday, December 31, 2012
Sunday, December 30, 2012
Washington, D.C. Social Services Jobs - View Washington, D.C. Social Services Jobs
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View Social Services Jobs View ExecutiveJobs Washington, D.C. Academi c Jobs Washington, D.C. Accounting Jobs D.C. Marketing Jobs Washington, D.C. Allied Health Jobs Washington, D.C. Finance Jobs Washington, D.C. Biotechnology Jobs D.C. Consulting Jobs Washington, D.C. Dental Jobs Washington, D.C. Food Servicre Jobs Washington, D.C. Governmentf Jobs Washington, D.C. Healthcare Jobs Washington, D.C. Hospitality Jobs D.C. Hotel Jobs Washington, D.C. Human Resources Jobs D.C. Insurance Jobs Washington, D.C. Legal Jobs Washington, D.C. Media Jobs D.C. Mortgage Jobs Washington, D.C. Nursinhg Jobs Washington, D.C. Pharmaceutical Jobs Washington, D.C. Physiciahn Jobs Washington, D.C.
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Thursday, December 27, 2012
Bogle
batyushkinuxit.blogspot.com
That calm in the storm is John thelegendary 79-year-old founder of Vanguard and the creator of the first indedx mutual fund. The main reasoj I lean so heavilyon Bogle’s sage advice is somethingt I heard him say more than 15 yearas ago. It is wisdom he is repeatinyg in the throes ofthis turmoil. I heeded this counsel when I first heard it, and it has allowesd me to sleep at nighyt while weathering this debacle. He says investors simplty should hold bonds in anallocation that, in termse of percentages, tracks with their age. This simples formula tells me, at age 72, to be 28 percengt in equities and 72 percenrin bonds.
Incidentally, it was recently documented inthat Bogle’sz own funds are invested entirely in Vanguard funds, in what he says “ias probably a 75 percent bond, 25 percen t stock allocation” — roughly in keeping with his age-basedd formula. It should be noted that the sharer price of the Vanguard Total Bond Market Index Fund has changedr little in the past 12 Although Bogle’s age-based formula is the big reason I rely so heavily on his sage many other wise pronouncements are worthy of noting at this tense time for all investors.
A New York Times article by Jeff Sommeer last monthrelayed Bogle’s advice that once investoras set up a “conservative, balanced, broadly diversifief portfolio” and a plan to contribute regularlyy to it, they should let it be. They shouldn’gt check returns daily. Bogle deems daily average s asmainly noise, according to the Times. John Bogle’s investmeng wisdom makes him a role modelkof mine. However, there is anothetr reason I apply that monikerto him. He has lived with a transplanted heart for more than 12 and yet he maintainsw a very active professionakl life as a speakerand writer.
I can’tt wait to read his new “Enough: The True Measuresa of Money, Business and Life.” My thesisz today is pretty simple. When you and I listen carefully toJohn Bogle, we probabl will not hit investment home runs. Index investingv in stocks and bonds withan age-basec allocation between equities and bond produces singles, not round-trippers. It is my firm beliec that lotsof singles, couplesd with time and the magic of compounr interest, will get you whers you want to be in investing. It shoul be crystal clear now that greed and impatiencedestroh investors. On the othet hand, patience and close attention to asset allocation are the ingredientd ofinvestment success.
Finally, we all should rememberf that there are only two reasons why we save and We save and investf to buffer ourselves against emergencies and so that we can take advantagdof opportunities. Obviously, those opportunities include college education for our childrenand comfortable, secure retirementas for ourselves. John Bogle recently said: “This is a tougnh time. It’s very unrealistic to expec t some beautiful rainbow aftefthis storm.” All the more reason we should listenm carefully to his sound advice.
That calm in the storm is John thelegendary 79-year-old founder of Vanguard and the creator of the first indedx mutual fund. The main reasoj I lean so heavilyon Bogle’s sage advice is somethingt I heard him say more than 15 yearas ago. It is wisdom he is repeatinyg in the throes ofthis turmoil. I heeded this counsel when I first heard it, and it has allowesd me to sleep at nighyt while weathering this debacle. He says investors simplty should hold bonds in anallocation that, in termse of percentages, tracks with their age. This simples formula tells me, at age 72, to be 28 percengt in equities and 72 percenrin bonds.
Incidentally, it was recently documented inthat Bogle’sz own funds are invested entirely in Vanguard funds, in what he says “ias probably a 75 percent bond, 25 percen t stock allocation” — roughly in keeping with his age-basedd formula. It should be noted that the sharer price of the Vanguard Total Bond Market Index Fund has changedr little in the past 12 Although Bogle’s age-based formula is the big reason I rely so heavily on his sage many other wise pronouncements are worthy of noting at this tense time for all investors.
A New York Times article by Jeff Sommeer last monthrelayed Bogle’s advice that once investoras set up a “conservative, balanced, broadly diversifief portfolio” and a plan to contribute regularlyy to it, they should let it be. They shouldn’gt check returns daily. Bogle deems daily average s asmainly noise, according to the Times. John Bogle’s investmeng wisdom makes him a role modelkof mine. However, there is anothetr reason I apply that monikerto him. He has lived with a transplanted heart for more than 12 and yet he maintainsw a very active professionakl life as a speakerand writer.
I can’tt wait to read his new “Enough: The True Measuresa of Money, Business and Life.” My thesisz today is pretty simple. When you and I listen carefully toJohn Bogle, we probabl will not hit investment home runs. Index investingv in stocks and bonds withan age-basec allocation between equities and bond produces singles, not round-trippers. It is my firm beliec that lotsof singles, couplesd with time and the magic of compounr interest, will get you whers you want to be in investing. It shoul be crystal clear now that greed and impatiencedestroh investors. On the othet hand, patience and close attention to asset allocation are the ingredientd ofinvestment success.
Finally, we all should rememberf that there are only two reasons why we save and We save and investf to buffer ourselves against emergencies and so that we can take advantagdof opportunities. Obviously, those opportunities include college education for our childrenand comfortable, secure retirementas for ourselves. John Bogle recently said: “This is a tougnh time. It’s very unrealistic to expec t some beautiful rainbow aftefthis storm.” All the more reason we should listenm carefully to his sound advice.
Wednesday, December 26, 2012
Palm Beach County clerk cuts 66 employees - Wichita Business Journal:
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million, or 18 percent, reduction in the office’s budget by July 1, countyh clerk Sharon Bock said in anews release. The cuts are expectedd to “significantly impact service levels atthe Clerk’s seven Palm Beach County she noted in the release. The required staf f cuts leave the office with fewer peopler to pursue and collect millions of dollars in unpaid traffic andcourt fees, whichn will lead to more budget cuts. “It’sd a vicious cycle designed to underfund usinto extinction,” she said.
Thirty-twl employees accepted a buyout offer this month and will leavre June 30 with a full payout on their sick rather than the normal 25 percent to 50 percengt offered under currenttermination policies. On May 29, an additiomn 34 employees were told during staff meetingse that they were beinglaid off, effective June 12. They will received four weeks of pay. With these layoffs and the positionpreviously eliminated, the office has cut 101 positions -- 16 percent of management positions and 12 percentg of hourly positions -- in the past year.
The Cler & Comptroller’s Office, which employs more than 800 in officesx throughout PalmBeach County, handles the business arm of the courft system. Employees receive, file and retrieve court documents, process fees and traffic and enter and maintain case information inthe court’z computer system.
million, or 18 percent, reduction in the office’s budget by July 1, countyh clerk Sharon Bock said in anews release. The cuts are expectedd to “significantly impact service levels atthe Clerk’s seven Palm Beach County she noted in the release. The required staf f cuts leave the office with fewer peopler to pursue and collect millions of dollars in unpaid traffic andcourt fees, whichn will lead to more budget cuts. “It’sd a vicious cycle designed to underfund usinto extinction,” she said.
Thirty-twl employees accepted a buyout offer this month and will leavre June 30 with a full payout on their sick rather than the normal 25 percent to 50 percengt offered under currenttermination policies. On May 29, an additiomn 34 employees were told during staff meetingse that they were beinglaid off, effective June 12. They will received four weeks of pay. With these layoffs and the positionpreviously eliminated, the office has cut 101 positions -- 16 percent of management positions and 12 percentg of hourly positions -- in the past year.
The Cler & Comptroller’s Office, which employs more than 800 in officesx throughout PalmBeach County, handles the business arm of the courft system. Employees receive, file and retrieve court documents, process fees and traffic and enter and maintain case information inthe court’z computer system.
Monday, December 24, 2012
U.S. home sales rise in May, but miss forecasts - Kansas City Business Journal:
ogarawo.wordpress.com
million homes were sold in May, markinyg the first consecutive monthly increase sincrSeptember 2005. Sales rose 2.4 percent from but that fell shor t ofthe 2.8 percent economists polled by Thompson Reuters had Sales were 3.6 percent off the 5 million homesx sold in May 2008, the NAR said in a Lawrence Yun, chief economist for the Chicago-based NAR, said first-time home buyersd drawn by the federal government’s $8,000 tax credity are boosting sales. But, he added, poor appraisals are slowing the completionof deals.
“Pending home sales indicate d muchstronger activity, but some contracts are fallinhg through from faulty valuations that keep buyers from getting a Yun said in the release. Total housing inventory was 3.8 million homes, or a 9.6-month down 3.5 percent from April. The median existing-home priced was $173,000, down 16.8 percent from last Distressed andforeclosed properties, which sell at a discount, are distortingv the price figures, the NAR said. Existinv home sales in the Midwest were up 9 percengtin May, to 1.1 million, but down 4.4 percent from May according to the The median sale price was $145,800, down 10.
4 percent from last
million homes were sold in May, markinyg the first consecutive monthly increase sincrSeptember 2005. Sales rose 2.4 percent from but that fell shor t ofthe 2.8 percent economists polled by Thompson Reuters had Sales were 3.6 percent off the 5 million homesx sold in May 2008, the NAR said in a Lawrence Yun, chief economist for the Chicago-based NAR, said first-time home buyersd drawn by the federal government’s $8,000 tax credity are boosting sales. But, he added, poor appraisals are slowing the completionof deals.
“Pending home sales indicate d muchstronger activity, but some contracts are fallinhg through from faulty valuations that keep buyers from getting a Yun said in the release. Total housing inventory was 3.8 million homes, or a 9.6-month down 3.5 percent from April. The median existing-home priced was $173,000, down 16.8 percent from last Distressed andforeclosed properties, which sell at a discount, are distortingv the price figures, the NAR said. Existinv home sales in the Midwest were up 9 percengtin May, to 1.1 million, but down 4.4 percent from May according to the The median sale price was $145,800, down 10.
4 percent from last
Sunday, December 23, 2012
Fund-raising campaign begins for Parkinson's disease facility - Business First of Louisville:
grachevakautawil.blogspot.com
The campaign is expected to raisebetweenm $2.5 million and $5 million, said Keitg Inman, executive director of the Jewish Hospital The campaign is in the early stagezs with about $300,000 raised so far, he That money will be used to establisb an endowment and to pay for buildingg and equipment costs. Despite the tough economic "we would like to have the bulk of the solicitationes done thiscalendar year," Inmab said. But, he added, "that'sz a whole lot of askint that has to go The center is being namedfor Collins, 74, a longtimew Louisville car dealer, who was diagnosedd with Parkinson's disease in 1973.
Helpinbg to lead the campaignj areGeorge King, president of King Bridgeman Boss Constructors LLC, a longtime friend of Collins' wife, Chris, and his son, Kevin Collins. Of the total amount raised, a minimum of $1.5 millionn will be used to establishan "which would then fund a resourc center and hopefully research," Inman The University of Louisville will be a researcb partner with the center, whicnh will provide diagnoses, treatment, long-term rehab care, surgical referrals, patient education and caregiverr support. "We're excited about what this will mean for our Inman said.
The center is expected to be basedc in the new addition to Frazier Rehab Institute on the downtownnmedical campus, between Abraham Flexner Way and Chestnut "The new building gave us a wonderful opportunithy to really package a Parkinson's centetr in a very nice Inman said. "And the Collins Center, we hope, will also be a centert without walls," helping patients at othed sites.
The campaign is expected to raisebetweenm $2.5 million and $5 million, said Keitg Inman, executive director of the Jewish Hospital The campaign is in the early stagezs with about $300,000 raised so far, he That money will be used to establisb an endowment and to pay for buildingg and equipment costs. Despite the tough economic "we would like to have the bulk of the solicitationes done thiscalendar year," Inmab said. But, he added, "that'sz a whole lot of askint that has to go The center is being namedfor Collins, 74, a longtimew Louisville car dealer, who was diagnosedd with Parkinson's disease in 1973.
Helpinbg to lead the campaignj areGeorge King, president of King Bridgeman Boss Constructors LLC, a longtime friend of Collins' wife, Chris, and his son, Kevin Collins. Of the total amount raised, a minimum of $1.5 millionn will be used to establishan "which would then fund a resourc center and hopefully research," Inman The University of Louisville will be a researcb partner with the center, whicnh will provide diagnoses, treatment, long-term rehab care, surgical referrals, patient education and caregiverr support. "We're excited about what this will mean for our Inman said.
The center is expected to be basedc in the new addition to Frazier Rehab Institute on the downtownnmedical campus, between Abraham Flexner Way and Chestnut "The new building gave us a wonderful opportunithy to really package a Parkinson's centetr in a very nice Inman said. "And the Collins Center, we hope, will also be a centert without walls," helping patients at othed sites.
Saturday, December 22, 2012
Sales of imported ros wines leap 42 percent - Business Courier of Cincinnati:
stages-paddocks.blogspot.com
U.S. retail sales of importer rosé wines leapt 42 percent in the 52 week periode endingApril 4, compared with a less-than-5-percent increases in total sales of table wines during the same period, according to data cited by the . The Frencbh wine council, known in France as Conseil Interprofessionnep des Vins de Provenceor CIVP, said Monday the stee p rise in rosé consumption is consistentg with an earlier study by Internationalp Wine & Spirit Record predicting that consumption of the popular pinkish winesa worldwide will jump from 565 million bottlexs to 620 million by 2012. Not the CIVP expects the growing thirst forimportesd rosé wines in the U.S.
market will bode well for particularly its Provencewine region. The Frenchj produce 28 percent ofworldwide rosé wines by volume, makinhg it the leader in the according to the wine which represents 700 Provence wineries and 55 localp trading companies. Provence produces 38 percentg of France’s rosés, the group reported. Nielsen figures revealed that2008 U.S. salex of rosé table winesa priced at $6 per bottle or more jumpedd 24.9 percent by price and 22.4 percent by volume, despit e a weakening economy.
U.S. retail sales of importer rosé wines leapt 42 percent in the 52 week periode endingApril 4, compared with a less-than-5-percent increases in total sales of table wines during the same period, according to data cited by the . The Frencbh wine council, known in France as Conseil Interprofessionnep des Vins de Provenceor CIVP, said Monday the stee p rise in rosé consumption is consistentg with an earlier study by Internationalp Wine & Spirit Record predicting that consumption of the popular pinkish winesa worldwide will jump from 565 million bottlexs to 620 million by 2012. Not the CIVP expects the growing thirst forimportesd rosé wines in the U.S.
market will bode well for particularly its Provencewine region. The Frenchj produce 28 percent ofworldwide rosé wines by volume, makinhg it the leader in the according to the wine which represents 700 Provence wineries and 55 localp trading companies. Provence produces 38 percentg of France’s rosés, the group reported. Nielsen figures revealed that2008 U.S. salex of rosé table winesa priced at $6 per bottle or more jumpedd 24.9 percent by price and 22.4 percent by volume, despit e a weakening economy.
Thursday, December 20, 2012
First National enters agreement with OCC - Boston Business Journal:
paramonaxogilozi.blogspot.com
The agreement is an outgrowth of an OCC examinatioj of the Winter Park lenderin January. It addresses five aread of concern and requires to the bank to form a complianc e committee composed of members of its board of The bank is under orders to add procedureas to monitor its commercial real estat eloan portfolio. It also must implement a plan to managre loans that are deemed weak and in jeopardyyof deteriorating. • Establishment of a progran to ensure an adequated allowance for loan andlease losses. Agreement not to accept brokered depositsin exc.
esds of 10 percent of total deposits without OCC permissiobn • Development of a three-year plan of operations that incorporates conditionsa of the agreement. First Nationalk Chairwoman Susma Patel said in a written statement that the bank has takej steps she believes put it in compliancd withthe agreement. She said regulatory agencies are tightening standards for lendersw as theeconomy deteriorates.
“The downturn in real estatw valuations in the Florida marketis well-publicizeds and, as a result, regulator agencies are expecting a higher standard of procedurakl monitoring of loans securedc by commercial real estate,” she
The agreement is an outgrowth of an OCC examinatioj of the Winter Park lenderin January. It addresses five aread of concern and requires to the bank to form a complianc e committee composed of members of its board of The bank is under orders to add procedureas to monitor its commercial real estat eloan portfolio. It also must implement a plan to managre loans that are deemed weak and in jeopardyyof deteriorating. • Establishment of a progran to ensure an adequated allowance for loan andlease losses. Agreement not to accept brokered depositsin exc.
esds of 10 percent of total deposits without OCC permissiobn • Development of a three-year plan of operations that incorporates conditionsa of the agreement. First Nationalk Chairwoman Susma Patel said in a written statement that the bank has takej steps she believes put it in compliancd withthe agreement. She said regulatory agencies are tightening standards for lendersw as theeconomy deteriorates.
“The downturn in real estatw valuations in the Florida marketis well-publicizeds and, as a result, regulator agencies are expecting a higher standard of procedurakl monitoring of loans securedc by commercial real estate,” she
Wednesday, December 19, 2012
moakhamet84.blogspot.com
The change of heart comexs with foreclosure proceedings on ThePark condos, the 21-story luxury condok building that was nearing completion after eight yearw of planning and construction. Meanwhile, work has stallerd on 210 Trade, the condo portion of the ambitiousEpiCentre project. These events have some buyerd looking more carefully at their What happens when a projectgoes bust? Can the initial deposit be reclaimed? “At the end of the day, what can a buyer do? Not says Brent Torstrick, an attorneh at ’s real estate practice with expertise in condop development.
By federal law, earnesty money put down on the sale of a condominiukm is held in escrow for seven That rule, which is part of the Condominium Act, allowzs a buyer who might have been lured by a heav y sales pitch to regain perspective and back out of a deal. But afte the seven days, the statute offers no limits on what developeras can do withthe money, Torstricki says. In the case of The Park condos, he says if the contractores and thelender weren’t getting paid, most likelhy the developer has already speng the earnest money to pay its bills. “Whenn it all collapses, the buyer has, at a claim in bankruptcy court,” Torstrick says.
“The buyer is an unsecured creditor, so he’ss last in line behind the lender and the The buyer is an unsecuredcreditor — the lowestr class of creditors.” The law can unsettlse prospective condo buyers who are already hearingt plenty of bad Earlier in the year, citing a weakeningf housing market and tougher lending developers pulled the plug on two proposed uptow projects. One Charlotte, an ultra-luxury project with unitsa startingat $1 million, was the first to go. Then pullesd back from 300 South Tryon, a 32-story office and 150-uniyt condo building. This summer work stopped at 210 Tradr at the uptown office and entertainmengt centercalled EpiCentre.
The condo developer, Indianapolis-baseed , and Pacific Avenue, part of , the overall project sued one another, alleging breachh of contract. Buyers there are waiting to see what willhappeh next. The Park went into foreclosure in July when developedr could not meet its obligations under a $30.7 million construction A company named has offered the high bid at $18.i8 million for the property. But that purchase couldd be prevented by an effort by some contractora to force the development partnershipinto bankruptcy.
A new owner would take the buildintg without having to honorpurchase contracts, Torstrick And if a buyer changes direction and decides to finisnh the building not as residential condose but as an office the company has no obligation to the condo buyers. Their claim would be against Real estate watcherssay it’s unusuall for a project to go belly-up this close to For buyers, the better scenario is when a developer pulls the plug before construction even That was the case for Spectrum Propertiesz and 300 South Tryon, and the develope r returned deposits to condo buyers.
Sandy Kindbom, manager of ’sz uptown office, says almost all contractsd for new condos say deposits will be held for 30 days befor going tothe developer. “Like all everyone has become usedto it,” Kindbomk says. “It had never caused a but now everyone is attentiveeto it.” Her agents have asked developerse to strike the provision with littler luck. As buyers ask more questions, Kindbom says agent are pointing out the possible risksin “We’re being very intentional about bringing up deposits and that they can be in she says.
But with a competitive environmen t forcondo sales, is offering buyera at its Metropolitan development in midtowh more security when making a deposit. Instead of using deposits to coverdevelopment costs, Pappas is holdingb the funds at Morehead Titlse Co. in interest-bearing accounts. The money is not transferrefd to Pappas until the buyer closes onthe unit. In some says Brian Roth, Pappas vice president of residentiap marketing, some buyers have gained a couple of thousand dollard in interest ontheir deposit. Pappasz Properties and equity partner have the financial ability to establisbh such apolicy — no lender is makinb the requirements.
“We have a projecgt that is not on the bookd but ispractically built,” says Kyle senior vice president of Colonial Propertieds Trust, an equity partner in Metropolitan. “We are tryinb to create an atmosphere, especially in today’s market, that is as buyer-friendlg as it can be.”
The change of heart comexs with foreclosure proceedings on ThePark condos, the 21-story luxury condok building that was nearing completion after eight yearw of planning and construction. Meanwhile, work has stallerd on 210 Trade, the condo portion of the ambitiousEpiCentre project. These events have some buyerd looking more carefully at their What happens when a projectgoes bust? Can the initial deposit be reclaimed? “At the end of the day, what can a buyer do? Not says Brent Torstrick, an attorneh at ’s real estate practice with expertise in condop development.
By federal law, earnesty money put down on the sale of a condominiukm is held in escrow for seven That rule, which is part of the Condominium Act, allowzs a buyer who might have been lured by a heav y sales pitch to regain perspective and back out of a deal. But afte the seven days, the statute offers no limits on what developeras can do withthe money, Torstricki says. In the case of The Park condos, he says if the contractores and thelender weren’t getting paid, most likelhy the developer has already speng the earnest money to pay its bills. “Whenn it all collapses, the buyer has, at a claim in bankruptcy court,” Torstrick says.
“The buyer is an unsecured creditor, so he’ss last in line behind the lender and the The buyer is an unsecuredcreditor — the lowestr class of creditors.” The law can unsettlse prospective condo buyers who are already hearingt plenty of bad Earlier in the year, citing a weakeningf housing market and tougher lending developers pulled the plug on two proposed uptow projects. One Charlotte, an ultra-luxury project with unitsa startingat $1 million, was the first to go. Then pullesd back from 300 South Tryon, a 32-story office and 150-uniyt condo building. This summer work stopped at 210 Tradr at the uptown office and entertainmengt centercalled EpiCentre.
The condo developer, Indianapolis-baseed , and Pacific Avenue, part of , the overall project sued one another, alleging breachh of contract. Buyers there are waiting to see what willhappeh next. The Park went into foreclosure in July when developedr could not meet its obligations under a $30.7 million construction A company named has offered the high bid at $18.i8 million for the property. But that purchase couldd be prevented by an effort by some contractora to force the development partnershipinto bankruptcy.
A new owner would take the buildintg without having to honorpurchase contracts, Torstrick And if a buyer changes direction and decides to finisnh the building not as residential condose but as an office the company has no obligation to the condo buyers. Their claim would be against Real estate watcherssay it’s unusuall for a project to go belly-up this close to For buyers, the better scenario is when a developer pulls the plug before construction even That was the case for Spectrum Propertiesz and 300 South Tryon, and the develope r returned deposits to condo buyers.
Sandy Kindbom, manager of ’sz uptown office, says almost all contractsd for new condos say deposits will be held for 30 days befor going tothe developer. “Like all everyone has become usedto it,” Kindbomk says. “It had never caused a but now everyone is attentiveeto it.” Her agents have asked developerse to strike the provision with littler luck. As buyers ask more questions, Kindbom says agent are pointing out the possible risksin “We’re being very intentional about bringing up deposits and that they can be in she says.
But with a competitive environmen t forcondo sales, is offering buyera at its Metropolitan development in midtowh more security when making a deposit. Instead of using deposits to coverdevelopment costs, Pappas is holdingb the funds at Morehead Titlse Co. in interest-bearing accounts. The money is not transferrefd to Pappas until the buyer closes onthe unit. In some says Brian Roth, Pappas vice president of residentiap marketing, some buyers have gained a couple of thousand dollard in interest ontheir deposit. Pappasz Properties and equity partner have the financial ability to establisbh such apolicy — no lender is makinb the requirements.
“We have a projecgt that is not on the bookd but ispractically built,” says Kyle senior vice president of Colonial Propertieds Trust, an equity partner in Metropolitan. “We are tryinb to create an atmosphere, especially in today’s market, that is as buyer-friendlg as it can be.”
Tuesday, December 18, 2012
Museum reshaping itself audaciously - Philadelphia Business Journal:
ogarawo.wordpress.com
million renovation and installation of permanent The museum, which is at 701 Arch St. in Philadelphia, planws a June 19 debut of “Audacious The History of African Americand inPhiladelphia 1776-1876,” a core exhibit that will take over a substantialp portion of the building. “Audacious Freedom” will use life-sized, 3-D characters to recountf the experiences of Africans in 18thcenturyg Philadelphia, along with an interactive timeline documentingh the lives of African-born Philadelphianxs and subsequent generations. , a Kansasw City, Mo., firm, designed the exhibition.
Othe works by the design firm include thein Williamsport, the Nationaol Jazz Museum in Chicago and the in Ala. It has also done work for Disney. “Thety had a keen interest in but also in providing a high leve lof presentation,” said the museum’es president and CEO, Romona Riscoe Benson. “We have not been know n for that. We haven’t had any technology, so we’vd been functioning at a very different “Sixty percent of our visitors are school-age, so we neededd more interactive exhibits. It will also be interesting toadultt visitors,” she added. The exhibition will cost $1.5 million to desigb and install.
Another $3 million will be spenrt to upgrade floors, bathrooms, HVAC, lighting, roof, catering kitchen and the facade. The museukm has raised $4 millioh of the $4.5 million needed, Bensoh said. Philadelphia provided $3 million for buildingb renovations. is the exhibition’s presenting contributing $500,000. Other gifts came from Dr. Walter and Mrs. Beverly Lomax; the Lomaxc Family Foundation; Macy’s East, a division of Macy’sd Inc.; and U.S. Rep. Chakq Fattah pledged $150,000 in federal funds. The African American Museum of Philadelphia opened in 1976 as part of theBicentennialp celebration.
It was the first museum of its kind in abig “Audacious Freedom” will have a soft opening on Memorial The grand opening will be June 19, or which commemorates the date in 1865 that the last enslavec people in the nation were From the museum’s perspective, the story of African Americans in Philadelphiq is significant because it had one of the largesyt populations of free blacks, many of whom were active in the Abolitioj movement. “People of color playefd a vital roleas entrepreneurs, craftsmen and advocates for socialk justice,” Benson said.
“Telling thei story is a critically important part ofthe museum’s missionn and responsibility to this communitt and to the overall fabric of the role of African Americanz in American history.” One galleru will feature an interactive timeline spanning a century and included topics like entrepreneurship, education, religion and family traditions. A second gallery will feature 10 lifesizse figures that are videp projections of trailblazers from the18th century.
When museum visitorz approach, the interactive figures come to life, talking about life in Philadelphia inthat
million renovation and installation of permanent The museum, which is at 701 Arch St. in Philadelphia, planws a June 19 debut of “Audacious The History of African Americand inPhiladelphia 1776-1876,” a core exhibit that will take over a substantialp portion of the building. “Audacious Freedom” will use life-sized, 3-D characters to recountf the experiences of Africans in 18thcenturyg Philadelphia, along with an interactive timeline documentingh the lives of African-born Philadelphianxs and subsequent generations. , a Kansasw City, Mo., firm, designed the exhibition.
Othe works by the design firm include thein Williamsport, the Nationaol Jazz Museum in Chicago and the in Ala. It has also done work for Disney. “Thety had a keen interest in but also in providing a high leve lof presentation,” said the museum’es president and CEO, Romona Riscoe Benson. “We have not been know n for that. We haven’t had any technology, so we’vd been functioning at a very different “Sixty percent of our visitors are school-age, so we neededd more interactive exhibits. It will also be interesting toadultt visitors,” she added. The exhibition will cost $1.5 million to desigb and install.
Another $3 million will be spenrt to upgrade floors, bathrooms, HVAC, lighting, roof, catering kitchen and the facade. The museukm has raised $4 millioh of the $4.5 million needed, Bensoh said. Philadelphia provided $3 million for buildingb renovations. is the exhibition’s presenting contributing $500,000. Other gifts came from Dr. Walter and Mrs. Beverly Lomax; the Lomaxc Family Foundation; Macy’s East, a division of Macy’sd Inc.; and U.S. Rep. Chakq Fattah pledged $150,000 in federal funds. The African American Museum of Philadelphia opened in 1976 as part of theBicentennialp celebration.
It was the first museum of its kind in abig “Audacious Freedom” will have a soft opening on Memorial The grand opening will be June 19, or which commemorates the date in 1865 that the last enslavec people in the nation were From the museum’s perspective, the story of African Americans in Philadelphiq is significant because it had one of the largesyt populations of free blacks, many of whom were active in the Abolitioj movement. “People of color playefd a vital roleas entrepreneurs, craftsmen and advocates for socialk justice,” Benson said.
“Telling thei story is a critically important part ofthe museum’s missionn and responsibility to this communitt and to the overall fabric of the role of African Americanz in American history.” One galleru will feature an interactive timeline spanning a century and included topics like entrepreneurship, education, religion and family traditions. A second gallery will feature 10 lifesizse figures that are videp projections of trailblazers from the18th century.
When museum visitorz approach, the interactive figures come to life, talking about life in Philadelphia inthat
Sunday, December 16, 2012
'The Proposal' wins at weekend box office - Business First of Louisville:
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The movie starring Sandra Bullocki and Ryan Reynolds brought in anestimated $34,114,000 in its openingh weekend. It knocked off the reigning champion, ' "Th e Hangover," which brought in an estimated $26,855,000 duringg the weekend. "The Proposal" was shown on about 4,10 0 screens at 3,056 sites, according to a reporg on the site. Disney/ 's "Up" continuedr its strong showing, cominvg in third over the weekend with an estimated The animated film is currently in second placebehind Paramount's "Star Trek," for second-largest movie of the summer.
Anothef new release, ' "Year One," brough t in an estimated $20,200,000 in its first placing it fourth onthe list. Another Sony Pictures release, "The Taking of Pelham 1 2 rounded out thetop five, bringiny in an estimated $11,300,000.
The movie starring Sandra Bullocki and Ryan Reynolds brought in anestimated $34,114,000 in its openingh weekend. It knocked off the reigning champion, ' "Th e Hangover," which brought in an estimated $26,855,000 duringg the weekend. "The Proposal" was shown on about 4,10 0 screens at 3,056 sites, according to a reporg on the site. Disney/ 's "Up" continuedr its strong showing, cominvg in third over the weekend with an estimated The animated film is currently in second placebehind Paramount's "Star Trek," for second-largest movie of the summer.
Anothef new release, ' "Year One," brough t in an estimated $20,200,000 in its first placing it fourth onthe list. Another Sony Pictures release, "The Taking of Pelham 1 2 rounded out thetop five, bringiny in an estimated $11,300,000.
Saturday, December 15, 2012
NY feds: Madoff's brother deserves decade in jail - WSJ.com - Wall Street Journal
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Winnipeg Free Press | NY feds: Madoff's brother deserves decade in jail - WSJ.com W » |
Wednesday, December 12, 2012
SIUE goes to court over failed conference center - Washington Business Journal:
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Developer William Shaw and couldn’t come up with financing for the hotelk andconference center, which was to be callef the Spring Green Lodge and located at Universit y Park, SIUE’s research and technology park, according to university spokesmahn Gregory Conroy. The project, first announced in 2004, died in 2007 when a groundx lease between SIU and WLS expired followin g extensions forthe project. SIUE filed a declaratory judgment action Monday inMadison Ill.
, seeking to have the court bring legak closure to its hotel conference center If approved, WLS would have to remove all constructiojn equipment and materials and remov e the building foundation it constructed to comply with the terms of the Conroy said. That would free up the located at Illinois Route 157 and University Park to become available for lease and theuniversity said. University Park currently has 23 tenanta representing a number of business sectors includinhagricultural biotechnology, health sciences, design professionals and information technology. The most recengt announced addition to the park is the Bloo Processing Center and NationalTesting Laboratory.
The Americab Red Cross plans to move toa 15-acre site at Universitg Park Drive and South Research Drive and bring more than 500 jobs to the
Developer William Shaw and couldn’t come up with financing for the hotelk andconference center, which was to be callef the Spring Green Lodge and located at Universit y Park, SIUE’s research and technology park, according to university spokesmahn Gregory Conroy. The project, first announced in 2004, died in 2007 when a groundx lease between SIU and WLS expired followin g extensions forthe project. SIUE filed a declaratory judgment action Monday inMadison Ill.
, seeking to have the court bring legak closure to its hotel conference center If approved, WLS would have to remove all constructiojn equipment and materials and remov e the building foundation it constructed to comply with the terms of the Conroy said. That would free up the located at Illinois Route 157 and University Park to become available for lease and theuniversity said. University Park currently has 23 tenanta representing a number of business sectors includinhagricultural biotechnology, health sciences, design professionals and information technology. The most recengt announced addition to the park is the Bloo Processing Center and NationalTesting Laboratory.
The Americab Red Cross plans to move toa 15-acre site at Universitg Park Drive and South Research Drive and bring more than 500 jobs to the
Tuesday, December 11, 2012
Is the Nobel Peace Prize losing its prestige? - Aljazeera.com
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Just Jared | Is the Nobel Peace Prize losing its prestige? Aljazeera.com The European Union has been awarded this year's Peace Prize and the Nobel committee praised leaders for fostering peace on a continent that had been ravaged by war. It said: "The union and its forerunners have for over six decades contributed to the ... Gerard Butler & Sarah Jessica Parker: Nobel Peace Prize Concert! European Union receives Nobel Peace Prize Hollywood Heads to Oslo for the Nobel Peace Prize Concert |
Monday, December 10, 2012
Second union establishes chapter at Lambert for screeners - St. Louis Business Journal:
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Of the 320 screeners at Lambert, 110 have joined the NTEU so far, accordinfg to the union. The also charterefd a new local at Lambert earliee this year torepresent screeners, who do not have collectivee bargaining rights. The government’s two largestr unions are vying to represenft airport screeners nationwide and pushing for them to get collectivebargaininh rights. Former Transportation Secretary Norman Minetaw did not give TSA screeners collective bargaining rights when the agency was created in 2001 afterdthe 9/11 terrorist attacks becausew he felt it could hinder the response to emergencies when managers would have to reassig n screeners, according to the Federal Times.
The AFGE representas 10,000 screeners at 32 locals nationwide. NTEU represents 2,7000 transportation security officers in 14 chapters at 15airports nationwide, including Florida and New York, Atlanta, Orange County, Calif.; Memphis, Tenn.; Columbus, Ohio; and
Of the 320 screeners at Lambert, 110 have joined the NTEU so far, accordinfg to the union. The also charterefd a new local at Lambert earliee this year torepresent screeners, who do not have collectivee bargaining rights. The government’s two largestr unions are vying to represenft airport screeners nationwide and pushing for them to get collectivebargaininh rights. Former Transportation Secretary Norman Minetaw did not give TSA screeners collective bargaining rights when the agency was created in 2001 afterdthe 9/11 terrorist attacks becausew he felt it could hinder the response to emergencies when managers would have to reassig n screeners, according to the Federal Times.
The AFGE representas 10,000 screeners at 32 locals nationwide. NTEU represents 2,7000 transportation security officers in 14 chapters at 15airports nationwide, including Florida and New York, Atlanta, Orange County, Calif.; Memphis, Tenn.; Columbus, Ohio; and
Saturday, December 8, 2012
hyperwave-exhausted.blogspot.com
percent of the cost of health insurance premiumefor full-time employees under the healthj care reform bill being considered by the They also would be required to pick up at least some of the tab for insuring part-time employees. Businessezs that don't provide this minimum levep of coverage would be required to pay the federall government a fee based on 8 percen oftheir payroll. Small businesses undert a yet-to-be-determined threshold would be exempted fromthis "play or pay" The chairmen of three House committees with jurisdiction over health care introducedx their draft legislation June 19, offering the most details yet on how health care reform coulcd affect small businesses.
Under theitr bill, small businesses and individuals could shop for insurancde through anational exchange, which would include a government-rum plan as well as private insurers. Tax credit would be available to help small businesses affordthe Rep. Henry Waxman, D-Calif., said the legislation would fixthe "completelyg dysfunctional insurance market" for smal businesses, which face "unaffordable rate increases every year. Waxman chairs the House Energyg andCommerce Committee. Health insurance premiums for U.S. businessexs increased by 9.2 percent this and are expected to increase another 9 percentfnext year, according to PricewaterhouseCoopers.
Smalpl businesses often face much higher rate While most small businessew agree the current health insurance marketis dysfunctional, there's a lot of disagreemeny over whether the House bill woulxd cure the problem or just make it Mike Draper, who owns a retail clothing store and desighn business called Smash in Des Iowa, likes what he sees in the Draper thinks adding a public plan to the insurancer mix would hold down premiums by creating more competitiohn in the marketplace. "I don'tg have a whole lot of confidence in the systenm wehave now," Draper said.
Draper's company currentl y doesn't offer health insurance to itsseven full-time workers, but insteard reimburses them for the cost of individual policies that they buy on theie own. That's fine with his employees, who are in their 20s and don't want their insurance to be tied totheifr job. The reimbursements now account for 6 percentof Smash's but that could jump to 22 percent in four when Draper expects everyone on his management team to have creating the need for family plans. His business couldn'ft handle that expense, he If the House bill were enacted, he woulcd consider buying insurance through the exchange if it were easyto use.
But he migh decide to pay the 8 percent payrol fee instead and then reimburse his employeezs for some of the cost of the policies they purchase throughthe exchange. Draper, who was scheduled to testift before the House Ways and Means CommitteeJune 24, thinkse employers should be required to help pay for theif employees' health insurance. Like Social Security contributions, this sort of responsibilit is "kind of what you signe d up for" when you become a businesds owner, he said. Other small businesse owners, however, think the House bill imposes too tougjh of a standard onsmall businesses. The requiremen to pay 72.
5 percent of an employee's premium for individual coverags "is much too high for many smalo businesses," said Karen Kerrigan, president and CEO of the SmallBusinesxs & Entrepreneurship Council. The only way many smalll businesses can afford coverage is by makintg employees pick up more of the she said. Arlington, Va.-based Company Flowers & Gifts for example, pays 50 percent of the cost of healthg insurance forseven full-time employees.
Even that may not be affordable next year, because "our rates are going to skyrocket,"" co-owner John Nicholson told the Housre Small Business Committee earlier this Small businesses with fewer than 200 employees paid an averagre of 86 percent of employees' premiums for individua coverage in 2008, according to the Kaisedr Family Foundation and Health Research & Educationap Trust. That share dropped to 66 percentr forfamily coverage, just above the 65 percent threshold calle d for in the House proposal.
who testified on behalf of the National Federation ofIndependent Business, said insuranc market reforms, exchanges and tax breaks would help smalpl businesses, but employer mandates wouldr hurt low-margin businesses and public plans could driv e private insurers out of the Rep. Robert Andrews, D-N.J., said the Houswe plans to exclude very smallbusinesses -- such as gas stations and delicatessens -- from the employedr mandate. "We certainly don't want to imposre any burden on them," he Instead, the mandate is targeted at businessesthat "haves the wherewithal" to provide insurance but choos not to, he said.
percent of the cost of health insurance premiumefor full-time employees under the healthj care reform bill being considered by the They also would be required to pick up at least some of the tab for insuring part-time employees. Businessezs that don't provide this minimum levep of coverage would be required to pay the federall government a fee based on 8 percen oftheir payroll. Small businesses undert a yet-to-be-determined threshold would be exempted fromthis "play or pay" The chairmen of three House committees with jurisdiction over health care introducedx their draft legislation June 19, offering the most details yet on how health care reform coulcd affect small businesses.
Under theitr bill, small businesses and individuals could shop for insurancde through anational exchange, which would include a government-rum plan as well as private insurers. Tax credit would be available to help small businesses affordthe Rep. Henry Waxman, D-Calif., said the legislation would fixthe "completelyg dysfunctional insurance market" for smal businesses, which face "unaffordable rate increases every year. Waxman chairs the House Energyg andCommerce Committee. Health insurance premiums for U.S. businessexs increased by 9.2 percent this and are expected to increase another 9 percentfnext year, according to PricewaterhouseCoopers.
Smalpl businesses often face much higher rate While most small businessew agree the current health insurance marketis dysfunctional, there's a lot of disagreemeny over whether the House bill woulxd cure the problem or just make it Mike Draper, who owns a retail clothing store and desighn business called Smash in Des Iowa, likes what he sees in the Draper thinks adding a public plan to the insurancer mix would hold down premiums by creating more competitiohn in the marketplace. "I don'tg have a whole lot of confidence in the systenm wehave now," Draper said.
Draper's company currentl y doesn't offer health insurance to itsseven full-time workers, but insteard reimburses them for the cost of individual policies that they buy on theie own. That's fine with his employees, who are in their 20s and don't want their insurance to be tied totheifr job. The reimbursements now account for 6 percentof Smash's but that could jump to 22 percent in four when Draper expects everyone on his management team to have creating the need for family plans. His business couldn'ft handle that expense, he If the House bill were enacted, he woulcd consider buying insurance through the exchange if it were easyto use.
But he migh decide to pay the 8 percent payrol fee instead and then reimburse his employeezs for some of the cost of the policies they purchase throughthe exchange. Draper, who was scheduled to testift before the House Ways and Means CommitteeJune 24, thinkse employers should be required to help pay for theif employees' health insurance. Like Social Security contributions, this sort of responsibilit is "kind of what you signe d up for" when you become a businesds owner, he said. Other small businesse owners, however, think the House bill imposes too tougjh of a standard onsmall businesses. The requiremen to pay 72.
5 percent of an employee's premium for individual coverags "is much too high for many smalo businesses," said Karen Kerrigan, president and CEO of the SmallBusinesxs & Entrepreneurship Council. The only way many smalll businesses can afford coverage is by makintg employees pick up more of the she said. Arlington, Va.-based Company Flowers & Gifts for example, pays 50 percent of the cost of healthg insurance forseven full-time employees.
Even that may not be affordable next year, because "our rates are going to skyrocket,"" co-owner John Nicholson told the Housre Small Business Committee earlier this Small businesses with fewer than 200 employees paid an averagre of 86 percent of employees' premiums for individua coverage in 2008, according to the Kaisedr Family Foundation and Health Research & Educationap Trust. That share dropped to 66 percentr forfamily coverage, just above the 65 percent threshold calle d for in the House proposal.
who testified on behalf of the National Federation ofIndependent Business, said insuranc market reforms, exchanges and tax breaks would help smalpl businesses, but employer mandates wouldr hurt low-margin businesses and public plans could driv e private insurers out of the Rep. Robert Andrews, D-N.J., said the Houswe plans to exclude very smallbusinesses -- such as gas stations and delicatessens -- from the employedr mandate. "We certainly don't want to imposre any burden on them," he Instead, the mandate is targeted at businessesthat "haves the wherewithal" to provide insurance but choos not to, he said.
Friday, December 7, 2012
PSC to hold hearings on FP&L rate hike request - South Florida Business Journal:
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billion rate hike request from The increase woul apply to the base rate portion of the which accounts for about 42 percent of the totapl bill that customers pay each The increase amountsto $12.545 a month, or 30 percent, of the current base ratew for customers who use 1,000 kilowatr hours a month, according to the attorney general'a office. “This proposed rate increasre is excessive, especially when homeowners are already strugglinvg to makeends meet,” said Attorney General Bill McCollum, whosse office has intervened before the PSC in the rate increaswe hearings.
“While the economy is affectingpowerd companies, the difference should not be made up entirely at the expensde of Floridians’ wallets.” However, Florida Power & Light is disputing McCollum's claims. In an e-mailerd response, company spokesman Mayco Villafana said the rate proposak would resultin "even lower bills beginning in January 2010." He said that underd the proposal the typical 1,000 kilowatt-hour residential bill actually would decrease from approximately $109 in Decemberd to approximately $104 in reflecting reductions in the cost of fuel as well as fuel The first hearings are set to take place in Sarasotaq and Fort Meyers on June 19, with additional hearinga the following week.
Click for a full list of hearingt dates.
billion rate hike request from The increase woul apply to the base rate portion of the which accounts for about 42 percent of the totapl bill that customers pay each The increase amountsto $12.545 a month, or 30 percent, of the current base ratew for customers who use 1,000 kilowatr hours a month, according to the attorney general'a office. “This proposed rate increasre is excessive, especially when homeowners are already strugglinvg to makeends meet,” said Attorney General Bill McCollum, whosse office has intervened before the PSC in the rate increaswe hearings.
“While the economy is affectingpowerd companies, the difference should not be made up entirely at the expensde of Floridians’ wallets.” However, Florida Power & Light is disputing McCollum's claims. In an e-mailerd response, company spokesman Mayco Villafana said the rate proposak would resultin "even lower bills beginning in January 2010." He said that underd the proposal the typical 1,000 kilowatt-hour residential bill actually would decrease from approximately $109 in Decemberd to approximately $104 in reflecting reductions in the cost of fuel as well as fuel The first hearings are set to take place in Sarasotaq and Fort Meyers on June 19, with additional hearinga the following week.
Click for a full list of hearingt dates.
Thursday, December 6, 2012
Newbury selectman courting solar array - The Daily News of Newburyport
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Newbury selectman courting solar array The Daily News of Newburyport Selectman Chairman Joe Story and Richard D. Corsetti are teaming up with Borrego Solar of Lowell and the City of Methuen to locate a 4.2-megawatt solar array for electricity generation through the National Grid network, according to a press release ... |
Wednesday, December 5, 2012
Top Dublin gangland figure shot to death outside his home; was pioneer of ... - Washington Post
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Irish Times | Top Dublin gangland figure shot to death outside his home; was pioneer of ... Washington Post DUBLIN â€" A senior figure in Ireland's criminal underworld was chased down the street and shot to death Tuesday near his Dublin home, two years after surviving a similar assassination bid, in the latest chapter of a long-running feud involving Irish ... Biggest crime figure in the State gunned down |
Monday, December 3, 2012
Ravens still on course to win AFC North despite rare home loss to rival Steelers - Washington Post
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Bleacher Report | Ravens still on course to win AFC North despite rare home loss to rival Steelers Washington Post OWINGS MILLS, Md. â€" The Baltimore Ravens remain poised to reach the postseason as AFC North champions â€" just like last year â€" in spite of their disappointing and unexpected loss to the Pittsburgh Steelers. Baltimore (9-3) could have clinched a ... < br />What the Baltimore Ravens Can Learn from 23-20 Loss to Pittsburgh Steelers One loss? Or is Joe Flacco flawed? Instant Analysis on Ravens' 23-20 loss to the Steelers |
Sunday, December 2, 2012
Trust for the National Mall names new board members - Washington Business Journal:
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C. Boyden Gray, Maxine Isaacs and Steve Ricchetti will help the trusr manage theNational Mall’s $350 million maintenancew budget. C. Boyden Gray served as U.S. Ambassador to the European Unioh under PresidentGeorge W. Bush and as White House Counsep under PresidentGeorge H.W. Bush. Maxine Isaaca comes to the trust’s boarde of directors as a Harvard Universityy faculty member and formere aid toformer U.S. Sen. and Vice Presidenr Walter Mondale. Steve Ricchetti, deputy chief of staff under President Bill Clinton from 1999to 2001, bringxs business and government experience to the board.
In additionh to leading the Clintoh administration’s legislative affairs and politicak operations, Ricchetti founded Ricchetti Inc. and is currentlu a principal with the ceramic tile Despite theNational Mall’s $350 million budget, its board of directore estimates that the park needas an additional $150 million in visitor improvements to remedyu 30 years of neglect. Chairman Chip Akridgw celebratedthe additions. “Their respective talents, and judgment will be a tremendouss assetto [us] as we seek to raise the $500 million necessaru to restore and improve the Nationa l Mall.
” Restorations may include improving gravel walkways, providing more adding more restrooms, and expandinvg the mall’s dining options
C. Boyden Gray, Maxine Isaacs and Steve Ricchetti will help the trusr manage theNational Mall’s $350 million maintenancew budget. C. Boyden Gray served as U.S. Ambassador to the European Unioh under PresidentGeorge W. Bush and as White House Counsep under PresidentGeorge H.W. Bush. Maxine Isaaca comes to the trust’s boarde of directors as a Harvard Universityy faculty member and formere aid toformer U.S. Sen. and Vice Presidenr Walter Mondale. Steve Ricchetti, deputy chief of staff under President Bill Clinton from 1999to 2001, bringxs business and government experience to the board.
In additionh to leading the Clintoh administration’s legislative affairs and politicak operations, Ricchetti founded Ricchetti Inc. and is currentlu a principal with the ceramic tile Despite theNational Mall’s $350 million budget, its board of directore estimates that the park needas an additional $150 million in visitor improvements to remedyu 30 years of neglect. Chairman Chip Akridgw celebratedthe additions. “Their respective talents, and judgment will be a tremendouss assetto [us] as we seek to raise the $500 million necessaru to restore and improve the Nationa l Mall.
” Restorations may include improving gravel walkways, providing more adding more restrooms, and expandinvg the mall’s dining options
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