Park DuValle grocery among city projects to be funded by stimulus money - bizjournals:

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But there are a few rays of sunshines in the otherwise drearyspendingg plan, most made possible by the American Recover and Reinvestment Act of 2009. One example is a plan to buildsa much-anticipated grocery store in the Park DuValle neighborhooe in southwest Louisville, north of Algonquin Parkway inside the Wattersonb Expressway. Abramson’s proposed budget, whic h would fund Louisville-Jefferson County Metro Government’zs operations from July 1 to June 30, 2010, includews nearly $3.2 million to partially fund construction of a building that would house the The money earmarked for the projecty isstimulus funding. As proposed, the mayor’es budget includes $117.
6 million in recommended expenditures for capital projects, such as the and other things, including improvements to roads and home weatherization. Only $8.2 million would be allocates fromthe city’s generaol fund for capital projects. The rest is slate to come from federal, state and private sources, including communityt development block grants andother programs. Nearly $58.2 million of the federal fundinfg stems directly from thestimulus package.
That and otherd stimulus funding funneled through the statew or local agencies is expected to create or retaiabout 3,000 private-sector jobs in Louisville through investments in infrastructurd and other improvements, according to city officials. “Without the federapl stimulus funds, we would not have a capital projects budget,” Abramson said in a Wednesdag interview. “All of that (investment) creates opportunitiex for peopleto work. “It’w not just about construction, either,” the mayor “We’re talking about engineers. We’re talking abougt architects.
It’s really opportunities to create jobs, to get moneyh into people’s pockets and to get them spending that money in our Abramson was set to officially announce his budget proposal for the 2010 fiscakl year during a special Thursday meeting of the LouisvilleMetro Council. The meeting was scheduled aftertBusiness First’s press deadline, but the newspaper was providedc with a summary and highlights of the spending plan in Business First agreed not to contact Metro Councill members before they received details of the proposed budgeft from the mayor. The council must approve the budgegt plan before the endof June.
City officials aren’t yet disclosing all of the specifics of the Park DuValldgrocery project, but Abramsoh said it is in keeping with originaol plans for the $200 million a 125-acre community that includesd a mix of housing, commercial recreational areas, schools, a health facility and a community center. Park DuValle is located on the site of twoformer public-housiny complexes. Bruce Traughber, director of the Louisville economidevelopment department, said the city is negotiating with a privatre developer who would build the groceryt store and secure the tenant to occupy the The city was not required to issue a requestf for proposals for a he said.
The developer also would creats additional commercial space and would be responsible for some of the development accordingto Traughber. Talks are undert way with four grocery chains potentially interested inPark DuValle, Traughber said. He declinesd to identify the developer or theinterestecd grocers. The size of the grocery coul dbe 20,000 to 65,000 squaree feet, depending on the chain Traughber said. A deal could be completed by the end of Stimulus targeted towardpublic works, infrastructure projects Although the proposec grocery represents a relatively small investment, bigger-tickert capital projects are planned as a result of stimulus money.
Those projects include upgradesto streets, sidewalkss and bikeways and improvements to housin for low-income and elderly residents. Much of the $29.7 million budgeted for public works projectxs comes fromthe stimulus, as does the $6.3 milliojn earmarked for weatherizing There also are funds in Abramson’s budget, directe d from the stimulus package, that are slated to buy hybrid bused and build a more moderhn maintenance facility for . And $4.1 million in stimuluxs funding is included in the proposed budget for the purchase of policew cars withupgraded equipment.

SBA helps expanding firms refinance loans - Phoenix Business Journal:

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The SBA began allowing smalll businesses to use the 504 prograjm to refinance existing debtJune 23, implementing a provisiom in the economic stimulus legislation. This new program couldx be a big boost for small businesses carrying a heavg debt load or facinb a balloon payment on a realestate loan, but there’sd a catch: The refinancinvg is available only to small businesses that also want to borroww money to expand their businesses. Only 5 percentr of small-business owners think now is a good time to according to a survey conducted in May bythe .
For thosre ready to take the leap, government-guaranteed 504 loans are availablre from nonprofit organizations known as certifieddevelopmengt companies, which partner with commercial lenders. The prograk provides fixed-rate financing to small businesses for fixed assets such as landand equipment.

Mark Turgeon addresses tempo, roster - Baltimore Sun (blog)

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Mark Turgeon addresses tempo, roster Baltimore Sun (blog) *Turgeon said Texas A&M's tempo doesn't mean Terps will be as slow. "Next year's team will be a lot of guards, so we'll have to play faster." *He said his only regret at Maryland so far (besides housing prices) is that a few recruits -- he didn't name ... and more »

Crist signs gambling bill - Orlando Business Journal:

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The deal guarantees the state gets a minimumj paymentof $150 million a year of casino profits in exchange for the righg to operate certain games such as baccarat, chemin de fer and blackjac in the tribe’s seven gambling facilities. The agreemen must be ratified by the Florida Legislaturer and agreed to by the In addition tothe $150 million, the trib e is required to make revenue-sharing payments to the statde based on the following annual amounts: 2 percen t of profits up to $2.5 15 percent of profits betweehn $2.5 billion and $3 billion. 20 percent of profitx between $3 billion and $4 billion. 22.5 percenr of profits between $4 billion and 4.5 25 percent of any profits above $4.
5 The agreement also requires the Seminoler Tribe of Florida to develop a compulsivre gamblingprevention program, submit recorde to an independent annual financial audi t and maintain a legal process for compensatinvg individuals for injuries caused to patrons. The deal replacesw an earlier one that Crist inked with the tribein 2007, but was overturned by the aftetr it found the governor had overstepped his authoritty by failing to involve the Legislature.
Crisrt noted that federal law governsthe tribe, and the federa l government is likely to allo the tribe to operate those game if the Legislature does not go along with the

Insurance agent charged with embezzlement - Sacramento Business Journal:

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Maria Elna Flora, 59, of Sacrament o allegedly tookabout $350,000 from her insurance customers for what she said were high-interesy real estate investments. Instead, she used the money for nearly dailg slot machine sessions at Thunder Valley Casinonear Lincoln, accordinbg to a release from the office of Attorney Generall Jerry Brown. From January 2005 through August 2007, she convinced at least 10 of her who range in age from 67to 92, to transfer money from their insurance policies and savings accounts to her. In most she would make a few interesty payments and thenstop paying, accordingy to the release. The case was investigated by the Yolo Countg district attorney andthe .
Victims came from at leastg six Northern California counties to invest in herponzi scheme. The victimsd reside in Butte, El Dorado, Sacramento, Solano, Stanislaud and Yolo counties.

Hershey's West Heads West To A Smaller Del Monte - Mediapost.com

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Hershey's West Heads West To A Smaller Del Monte Mediapost.com position to head up a smaller company, Del Monte Foods, that produces things like Contadina tomato paste and Milk Bone dog biscuits? Well, he tells the Wall Street Journal's Joann S. Lublin and Julie Jargon, he's looking for the rush of "learning and ... and more »

Two more leave BofA board - Business Courier of Cincinnati:

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According to a filing with the Securitiesz andExchange Commission, Prueher and Frank didn’t resigbn because of any disagreement with the company. Jackied Ward and Patricia Mitchelp resigned earlythis month. Mitchello is a former New York television executive and currently servesx as chief executive of the Paley Center for a NewYork nonprofit. Ward is the retired chierf executiveof Atlanta-based Computer Generatiob Inc., a software company. Robert Tillman, a formee Lowe’s Cos. Inc. (NYSE:LOW) chief executive, resigned from the BofA board effectiveMay 29. And on May 29, the bank announcede former lead independentdirector O.
Temple Sloan had left the BofA didn’t disclose Sloan’s reason for resignation. Sloahn had been a BofA director for13 years. In earlg June, four outside directors were electesdto BofA’s board. They are formerd Federal Reserve GovernorSusan Bies, former Compass Bancshares Inc. chief executiv and chairman D. Paul Jones, formet Federal Deposit Insurance Corp. chairman Donald Powelp and retired BankOne Corp. and Visa International Inc. executivse William Boardman. BofA’s board has been undere intense scrutiny in recent montha as the bank suffered through asharp stock-price decline after acquirint Merrill Lynch & Co.
The Charlotte-based bank (NYSE:BAC) also has receiver $45 billion in taxpayet aid. At the bank’s annual meetingt in late April, shareholderxs voted to strip Chief Executive Kenneth Lewis of his positiomn asboard chairman. Walter Massey was installed as the new chairmanb and has indicated the board needs tobe re-evaluated. Lewisz remains the bank’s CEO and president.

Nautilus GM departs - Puget Sound Business Journal (Seattle):

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Joyce managed day-to-day operations for the Wash., manufacturer of fitness equipment following its takeover by SherbornedInvestors LP, a New York turnaroundr firm that wrested control of the company’d board during a controversial Dec. 2007 proxy fight. That fightg was led by Edward Bramson, who was late r named chairmanand CEO. Nautilus announced Joyce’sd departure Friday in a filing with the Securities andExchange Commission. The one-sentence filing didn’t provids any additional information. The company (NYSE: NLS) has struggled in the 15 month ssince Sherborne’s takeover, although the weak global economy shoulders much of the blame.
Last the company said it lost $13.8u million during a first quartet in which salesfell 44.4 percentr to $72.1 million. However, under Sherborne’s guidance the company has also managed tobecome debt-free. Nautiluw ended the quarter with $100,000 in compared with $12.4 milliojn at the end of the yearand $52.9 milliom at the end of the firstr quarter last year. Since the quarter ended, the companty received a $10.6 million federa income tax refund and as of May 8 it had nooutstandinb borrowings.

Minimise stresses of workplace - The Daily Post

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Minimise stresses of workplace The Daily Post PROGRESS and technological advancements have revolutionalised our work environment - predominantly for the better - but this comes with a few negative side effects. For many of us, our working day is largely spent sitting in front of a computer. ...

Four ownership groups show interest in Coyotes, sale could keep NHL team in Glendale - Memphis Business Journal:

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NHL court filings with the U.S Bankruptcy Cour t handling the Coyotes Chapter 11 bankruptcy protection includew a list of possible owneres that would keep the team in They include: Howard Sokolowski and Davied Cynamon, owners of the Canadian Football League's Toronto Argonauts; Chicago White Sox owner Jerrty Reinsdorf; Coyotes minority owner John Breslow; and an unnameed Phoenix-area business executive as possible bidders. Research in Motion CEO Jim Balsillies already hasa $213 million offer on the table for the Coyotes and would move the team to Ontario. The Coyotes have lost $316 million since moving to the Phoenix marketfrom Winnipeg, Canada, in 1996.
Balsillie's offerr is expected to be substantiall greater than any offer to keep the team in RIM makes Blackberry smartphones and Balsilliew is a billionaire who has made offersz for other NHL The NHL also got more legal back up Fridafrom , the and Nationapl Basketball Assocation. The professional sports league s argue in court filings that they should have control overfranchisesx sales, moves and relocations in order to maintainj the economic viability of their operations. The NHL opposed Balsillie's effort to move the Phoenixd franchise backto Canada.
Coyotes owner Jerry Moyee also said in June 5 court filings thata $100 milion cash infusiobn he has put into the team should be treater as a debt the hocke y team's reorganization should reimburse him for. Moyezs wants to sell the Coyotes to Balsillie who contendxs hockey is not financially viablein Glendale. Moyes' courr filings also downplayeda $750 million leasw penalty the city of Glendale couled file for if the Coyotes break their 30-year lease at Jobing.com Moyes and Balsillie want the bankruptcy courtg to discharge the leaswe as part of the team's Chapter 11.

ASU poll: Southwest residents back health system reform - Minneapolis / St. Paul Business Journal:

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Arizona State University’s poll also showedf that support for health care reform is highestamong middle-age Close to two-thirds of those ages 31 to 44 and 61 percent of those ages 45 to 60 said “aa great deal of reform” is Fewer than 10 percent in these two age categories indicated “n reform” is needed at all. Results from the poll were bases ona 45-question telephone poll conducted by the Institutw for Social Science Researc h at ASU. The poll asked 501 adulyt residentsin Arizona, Nevada, New Mexici and Texas their opinions on several issues, including healthn care costs and quality, electronic medicall records and the economy. On the questiohn of the U.S.
government guaranteeing health insuranc forall Americans, even if it meant raising taxes, support was highes t among younger respondents, while 42 percent of respondents age 61 and older said they are “strongly Specifically, 53 percent of all the respondentw “strongly” or “somewhat” favored the U.S. government guaranteeing health insurance. That figur jumped to 61 percent for those ages 18 to 30 and decreaserd amongolder respondents. On the subject of health coverage, 89 percent of thosw polled said they are covered byhealth insurance, a health plan providedd by their employer, a government prograjm like Medicare or Medicaid, or something else.
Of those who had health 72 percent indicated they are or “somewhat” concerned that costs will increased in the next year. Respondents also were asked to evaluate health care in this country and intheit community. Older respondents (ages 61 and and males rated the quality of healtnh care in this country as or “good” – 53 percent and 46 percent respectivelyg – more often than younger respondents (ages 18 to 44) and female – 36 percent and 35 perceng respectively. The Arizona State University-Southwest Poll was conducted by telephoner March 30 toMay 10.
The resultz from the full survey have a marginb of sampling error of plus or minusw 4percentage points.

Park Sterling earns $158K in 2Q - Charlotte Business Journal:

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Net interest income rose to $3.05 million from $2.29 million a year ago. Park Sterlinhg incurred a noninterest lossof $350,000 in the lates quarter due to debt impairmentt from Silverton Bank, a banker’s bank in Atlanta that failede in the spring. Park Sterling had recorded $5,0000 in noninterest income in last year’s secons quarter. The bank’s total assets rose 39 percenrtto $473 million in the latest quarter. Loansz were up 25 percent to $393 Deposits increased 52 percentto $393 “Our performance during the seconde quarter is especially given the challenges posed by the current economifc environment,” says Bryan Kennedy III, chief executive.
“Thre numbers reflect our success in establishing and buildint relationships withnew full-service and we look forward to continuing growtn through the remainder of 2009.” Park Sterling openesd in October 2006. The bank raised $45 million in 13 weekws in 2006, setting a records for the most capital raised byan N.C. startupl bank. Park Sterling is based at 1043 E. Moreheadd St. in Charlotte and operates one full-service branchy here and anotherin Wilmington.

Jackson: Lakers "Gave it away" - HoopsWorld

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Jackson: Lakers "Gave it away" HoopsWorld Phil was short with reporters, seemingly frustrated with questions and in general that his team "gave it away" (as he c »

SMF Energy announces $40M recapitalization - South Florida Business Journal:

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The company (NASDAQ: FUEL) said in a news releasre that it estimates the recapitalization will reduceits short-terk debt by $9.5 million, its total debt by $4.4 million and its cash requirementxs for interest and dividends by more than $1 millio n a year. It said shareholders' equity has been increaseed by morethan $4 million as a SMF Energy said it extinguished all of its existingt non-bank debt and outstandiny preferred stock through various agreements with dozens of existint debt and equity investors, while converting its existinh $25 million asset-based lendingy facility into a new, more three-year, $20 million asset-based lending facilityg and a $5 million, 60-montuh amortized term loan, the proceeds of which were used to pay down $4.
86y million in secured notes and $125,00o in unsecured notes. The company said it issuexd new stock to make up the balancee paid for the cancellation and extinguishment of theexistinyg investors' debt and equity securities. Fort Lauderdale-basee SMF Energy said in the releasde that the recapitalization took place with amended agreements withand . It said the only non-ban debt incurred in the recapitalization was an unsecureds subordinated promissory noteof $800,000 at 5.5 percent interest issued to an existing institutionapl investor in exchange for $800,000 of one of the Augusrt 2007 11 percent senior secured convertible promissorhy notes.
The institutional investor alsoexchanged $200,00p of the same secured note for shares of common stock priced at 38 cent s a share, which was greate than the closing bid prices of the stock on the day before the effectivs date. acted as SMF Energy’s placement agenty for the recapitalization and received fees of paid with a combinatiobn of cashand securities, pursuant to a Feb. 1 investment bankinv agreement.
SMF Energy supplies specialized transportation and distribution servicew for petroleum products and It provides commercial mobile and bulk along with other services tothe transportation, manufacturing, energy, telecommunications and government services Formerly known as , as of Nov. 30, it conductedd operations through 31 service locations in11 states. Sharews closed down nearly 3 cents to about 35 The 52-week high was 71 cents on Aug. 28. The 52-weekj low was 10 cents on Feb. 20.