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Under the D.C.-based firm’s new two-year which is designed much like amedical residency, selected participants will spend one-third of theire time during the first year on clienr billable work and the rest on pro bono projectsx and taking classes on legal writing and In the second year of the associates will work at a slashed billing rate of $150 to $200 an They will also continue to take classex on litigation skills such as tria l tactics, cross examination, and mediation and arbitration. “The beginning of a young lawyer’s caree is a critical time.
We want our youngb lawyers to hone their skills and realize theirrfull potential,” said Bob Ruyak, chairman and CEO of “...By reducing the billable hours significantly discounting rates and training our associatea consistently and creatively, we know we can develo p them more effectively and providew more value to our clients.” In addition to an annual salaryu of $100,000, first year participants will get $25,0000 upon acceptance of their job offer to help defray theid law school loans or third year law schoool expenses, said the firm. In theirt second year, participants will get an annuak salaryof $125,000 and a $25,0000 bonus upon finishing the program.
The program will not affectf the compensation of currentHowreyh associates. Founded in 1956, Howrehy has more than 750 attorney worldwide.
terça-feira, 25 de dezembro de 2012
sábado, 22 de dezembro de 2012
WCI, developer of Westshore Yacht Club, files reorganization plan - Minneapolis / St. Paul Business Journal:
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The company filed a plan of reorganization with the for the Districg ofDelaware Monday, about 10 months after it Chaptet 11 bankruptcy protection. Under the plan, the company’d senior secured lenders will receive new first lien debttotalinb $450 million, including a $150 milliom payment-in-kind component, a releases said. The senior secured lendersd will hold a 95 percenrt equity stake in thereorganized company. The remainint 5 percent equity stake would be shared bythe company’as unsecured creditors.
The unsecured creditors’ shares would begin to increases when the new debt is fullgy retired and would reacjh a maximum of35 percent, after the securex lenders have received payments of abougt $70 million, the amoun currently owed to them, the release said. The plan reflects positions taken in lengthy negotiations but has not been approvedr or recommendedby creditors, the release said. WCI said in the releasw that it wanted to get a plan on file with the bankruptcy court so discussions could continue and a definitive timelined for exit could be WCI also reaffirmed an earlier decisiohn to suspend all Florida homebuilding new constructionactivitiees indefinitely, pending market recovery, the release said, although it will complete homes under construction and continue maintenance of its WCI (PINK SHEETS: WCIMQ) is based in Bonitas Springs but has close ties to the Tampqa Bay area.
WCI communities in the Bay area includr inHillsborough County, in Tampa, in Bradenton and the in
The company filed a plan of reorganization with the for the Districg ofDelaware Monday, about 10 months after it Chaptet 11 bankruptcy protection. Under the plan, the company’d senior secured lenders will receive new first lien debttotalinb $450 million, including a $150 milliom payment-in-kind component, a releases said. The senior secured lendersd will hold a 95 percenrt equity stake in thereorganized company. The remainint 5 percent equity stake would be shared bythe company’as unsecured creditors.
The unsecured creditors’ shares would begin to increases when the new debt is fullgy retired and would reacjh a maximum of35 percent, after the securex lenders have received payments of abougt $70 million, the amoun currently owed to them, the release said. The plan reflects positions taken in lengthy negotiations but has not been approvedr or recommendedby creditors, the release said. WCI said in the releasw that it wanted to get a plan on file with the bankruptcy court so discussions could continue and a definitive timelined for exit could be WCI also reaffirmed an earlier decisiohn to suspend all Florida homebuilding new constructionactivitiees indefinitely, pending market recovery, the release said, although it will complete homes under construction and continue maintenance of its WCI (PINK SHEETS: WCIMQ) is based in Bonitas Springs but has close ties to the Tampqa Bay area.
WCI communities in the Bay area includr inHillsborough County, in Tampa, in Bradenton and the in
sexta-feira, 21 de dezembro de 2012
Europe's 2013 event risks: A user's trading guide - MarketWatch
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Europe's 2013 event risks: A user's trading guide MarketWatch LONDON (MarketWatch) â€" Elections in Italy and Germany are among the significant European events that could pose a risk to markets next year. Here's MarketWatch's list of Europe's biggest event risks in 2013, along with ideas for how to make the most ... |
quarta-feira, 19 de dezembro de 2012
Detroit's Hotel Doldrums - Dayton Business Travel Guide
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Four of the city's once-famous deluxe hotels were ornate tombs, abandoned for decadess and facingthe wrecker's ball. Two starkly modern properties built in the 1960s were shabby and sorely in need ofnew ownership. Even the 73-story hotel in the Renaissance opened in the late 1970s as part of amassiver urban-renewal project, was dreary and depressing. I scribbled in my notebook in 2002. "Someons should fix." And fix they did. The Madison-Lenos and the Detroit Statler were demolished, but the Book Cadillacd and the Fort Shelby received hundreds of millions of dollarws worth of renovationsand restorations.
The Book, as localds call it, reopened to raves in Octobe and the Fort Shelby came back to life two months One of the1960s icons, the St. Regis, became a spiffyg boutique property. The other, the Hotel Pontchartrain, was recently renovatec and is now calledthe Riverside. The cylindrical skyscraper hotelp at theRen Center? It's a Marriott now, and it And the city's three casinos have each openesd upscale hotels with Vegas-style perks and amenities. But this is where hotel happy endings are always the start of the nextlodgintg nightmare. If anything, the Motor City'sw hotel scene is in worse shap e today than sevenyears ago.
More than half of Detroit'ds estimated 40,000 guestrooms are empty, and PKF Hospitality Researchj says lodging demand will fall further this The St. Regis is in The Riverside has been picketed by employees who saythey haven'tg been paid, and the Detroit News says the hotelk owes almost $700,000 in back taxes. One of the casinos is in bankruptcgy and another isfor sale. Only a handfulk of buyers have closed on the dozen s of pricey condos atop theBook Cadillac. The Fort Shelby'sd new rental apartments are mostlyempty too. And Detroit's revpar (revenue per availablew room), the key measure of financial healthb in thelodging industry, is one-thirfd lower than the national average.
"The statisticds are scary," admits Shannon Dunavent, general managere of the Doubletree Guest Suites hotel that was lovingly carve d out of the carcass of theFort Shelby. "I'vr been working in Michigan for 20 years andI won' t lie to you. There's no new business in the We're all trying to steal from the other guyto survive." It doesn't take a genius to figur out what's ailing Motown's hotels: The automotive businesd has been careening downhill for decades. Detroit has nevert been able toreplace cars, and the thousandsx of related businesses that depend on the as the city's economic engine. even Motown Records moved to Hollywood almosrt 40years ago.
But the tale of Detroit's collapsingv hotel business is actuallymore It's a story of no good deed going unpunished, of everyh clever urban-renewal idea having an unintended consequence, and everyone missing the hotel forest for the restored trees of an earliet era. As Detroit emptiedr out—the city's population of 900,000 is abourt half its mid-1950s high—so did the need for much of the city'es older hotel infrastructure.
The luxury lodging business movec to upscale suburbs like Dearborn and A slewof focused-service hotels popped up in officse parks and other business areas outside the deteriorating city Fliers who connect in Detroit via Northwest Airlines' large hub at Detroig Metro are well-served by an upmarkert Westin hotel that opened adjacent to the new terminal. During the last decade, even with icons like the Book and the Fort Shelby closed and the casino hoteles still on thedrawinhg boards, hotel occupancy rarelyh surpassed the 60 percent And though there were occasionap spikes of demand around special events—the city is sold out for college basketball's Final Four next month—there was neve r any indication that Detroit needed more "This has always been about urban renewal and politicxs more than market forces," one hotel executive told me last "You can admire the drive and the commitmeng to rebuild Detroit, but there was a lot of 'If we buildc it, they will c ome,' thinking.
We built. Guestsw haven't come." The three casino hotels—eacu mandated by the terms of theirgamint license, each around 400 rooms, and each opene in the last 18 months—flooded the city with new The restoration of the Book Cadillaxc and Fort Shelby is another example of Detroit's mind over The city's tallest building and the tallesyt hotel in the world when it opened in the 33-story neo-Renaissance Book remains a much-loves symbol of Detroit's boom times. But as a the 1,100-room property was always a Afterthe war, it changed owners and hotep flags frequently and finally closed in 1984.
Over the next 20 the city, state, hotel chains, and developers all floateds and abandonedrestorations plans. The $200 million project that finally startex in 2006 and culminated witha headline-grabbinb gala reopening party last fall converted the Book into a 455-roojm Westin hotel and a residential condo Both projects have been laudes for their design and creativs repurposing of the Book's stately but the hotel has been forced to discount rooms to as low as $99 a If anything, the revivall of the 23-story Beaux-arts Fort Shelbyy was even more unlikely. It closedc in 1974 and trees sprouted in thederelicr building.
A $90 million restoration project began in 2007 did wonderss fordowntown Detroit's streetscape, if not hotel Along with 56 apartment rentals, the building now houses conference restaurants, and 204 hotel suites. The smallesty guestroom is 600 square feetand Dunavent, the Doubletree'a general manager, says weekend rates are as low as $89 a "I'm proud of what we've done," she says. "Ifg I can get you here, I know you'lpl have a great experience." Detroit Marriott general managef Bob Farmeryechoes Dunavent's comments. All he wantws is for guests to experiencd hisreinvigorated property.
Marriott and the tower's owner, General have poured more than $150 milliomn into the project sinces Marriott assumed management ofthe 1,300 guest rooms in 1998. the hotel was sold out last weekend when I caught up with It was hostingcollege hockey's Final Four and another largew group. And Farmery believes Detroit can wake from itslodgingh nightmare. He thinks the city can profitt from the AIG Effect that has forcefd major corporations to cancel pricey meetingein eyebrow-raising resorts like Las Vegas and "Our product is terrific and our ratees are low," he says.
"And nobodyg will criticize you if you hold a meeting in TheFine Print… The Doubletree Guest Suitee in the Fort Shelbyy represents the first full-service Hilton hotel in downtown Detroit in more than 30 The chain returned to the market in 2004 when the Ferchilkl Group, which also redeveloped the Book opened a limited-service Hilton Garden Inn in the Harmonie Park Portfolio.com © 2009 Cond Nast Inc. All rightsreserved.
Four of the city's once-famous deluxe hotels were ornate tombs, abandoned for decadess and facingthe wrecker's ball. Two starkly modern properties built in the 1960s were shabby and sorely in need ofnew ownership. Even the 73-story hotel in the Renaissance opened in the late 1970s as part of amassiver urban-renewal project, was dreary and depressing. I scribbled in my notebook in 2002. "Someons should fix." And fix they did. The Madison-Lenos and the Detroit Statler were demolished, but the Book Cadillacd and the Fort Shelby received hundreds of millions of dollarws worth of renovationsand restorations.
The Book, as localds call it, reopened to raves in Octobe and the Fort Shelby came back to life two months One of the1960s icons, the St. Regis, became a spiffyg boutique property. The other, the Hotel Pontchartrain, was recently renovatec and is now calledthe Riverside. The cylindrical skyscraper hotelp at theRen Center? It's a Marriott now, and it And the city's three casinos have each openesd upscale hotels with Vegas-style perks and amenities. But this is where hotel happy endings are always the start of the nextlodgintg nightmare. If anything, the Motor City'sw hotel scene is in worse shap e today than sevenyears ago.
More than half of Detroit'ds estimated 40,000 guestrooms are empty, and PKF Hospitality Researchj says lodging demand will fall further this The St. Regis is in The Riverside has been picketed by employees who saythey haven'tg been paid, and the Detroit News says the hotelk owes almost $700,000 in back taxes. One of the casinos is in bankruptcgy and another isfor sale. Only a handfulk of buyers have closed on the dozen s of pricey condos atop theBook Cadillac. The Fort Shelby'sd new rental apartments are mostlyempty too. And Detroit's revpar (revenue per availablew room), the key measure of financial healthb in thelodging industry, is one-thirfd lower than the national average.
"The statisticds are scary," admits Shannon Dunavent, general managere of the Doubletree Guest Suites hotel that was lovingly carve d out of the carcass of theFort Shelby. "I'vr been working in Michigan for 20 years andI won' t lie to you. There's no new business in the We're all trying to steal from the other guyto survive." It doesn't take a genius to figur out what's ailing Motown's hotels: The automotive businesd has been careening downhill for decades. Detroit has nevert been able toreplace cars, and the thousandsx of related businesses that depend on the as the city's economic engine. even Motown Records moved to Hollywood almosrt 40years ago.
But the tale of Detroit's collapsingv hotel business is actuallymore It's a story of no good deed going unpunished, of everyh clever urban-renewal idea having an unintended consequence, and everyone missing the hotel forest for the restored trees of an earliet era. As Detroit emptiedr out—the city's population of 900,000 is abourt half its mid-1950s high—so did the need for much of the city'es older hotel infrastructure.
The luxury lodging business movec to upscale suburbs like Dearborn and A slewof focused-service hotels popped up in officse parks and other business areas outside the deteriorating city Fliers who connect in Detroit via Northwest Airlines' large hub at Detroig Metro are well-served by an upmarkert Westin hotel that opened adjacent to the new terminal. During the last decade, even with icons like the Book and the Fort Shelby closed and the casino hoteles still on thedrawinhg boards, hotel occupancy rarelyh surpassed the 60 percent And though there were occasionap spikes of demand around special events—the city is sold out for college basketball's Final Four next month—there was neve r any indication that Detroit needed more "This has always been about urban renewal and politicxs more than market forces," one hotel executive told me last "You can admire the drive and the commitmeng to rebuild Detroit, but there was a lot of 'If we buildc it, they will c ome,' thinking.
We built. Guestsw haven't come." The three casino hotels—eacu mandated by the terms of theirgamint license, each around 400 rooms, and each opene in the last 18 months—flooded the city with new The restoration of the Book Cadillaxc and Fort Shelby is another example of Detroit's mind over The city's tallest building and the tallesyt hotel in the world when it opened in the 33-story neo-Renaissance Book remains a much-loves symbol of Detroit's boom times. But as a the 1,100-room property was always a Afterthe war, it changed owners and hotep flags frequently and finally closed in 1984.
Over the next 20 the city, state, hotel chains, and developers all floateds and abandonedrestorations plans. The $200 million project that finally startex in 2006 and culminated witha headline-grabbinb gala reopening party last fall converted the Book into a 455-roojm Westin hotel and a residential condo Both projects have been laudes for their design and creativs repurposing of the Book's stately but the hotel has been forced to discount rooms to as low as $99 a If anything, the revivall of the 23-story Beaux-arts Fort Shelbyy was even more unlikely. It closedc in 1974 and trees sprouted in thederelicr building.
A $90 million restoration project began in 2007 did wonderss fordowntown Detroit's streetscape, if not hotel Along with 56 apartment rentals, the building now houses conference restaurants, and 204 hotel suites. The smallesty guestroom is 600 square feetand Dunavent, the Doubletree'a general manager, says weekend rates are as low as $89 a "I'm proud of what we've done," she says. "Ifg I can get you here, I know you'lpl have a great experience." Detroit Marriott general managef Bob Farmeryechoes Dunavent's comments. All he wantws is for guests to experiencd hisreinvigorated property.
Marriott and the tower's owner, General have poured more than $150 milliomn into the project sinces Marriott assumed management ofthe 1,300 guest rooms in 1998. the hotel was sold out last weekend when I caught up with It was hostingcollege hockey's Final Four and another largew group. And Farmery believes Detroit can wake from itslodgingh nightmare. He thinks the city can profitt from the AIG Effect that has forcefd major corporations to cancel pricey meetingein eyebrow-raising resorts like Las Vegas and "Our product is terrific and our ratees are low," he says.
"And nobodyg will criticize you if you hold a meeting in TheFine Print… The Doubletree Guest Suitee in the Fort Shelbyy represents the first full-service Hilton hotel in downtown Detroit in more than 30 The chain returned to the market in 2004 when the Ferchilkl Group, which also redeveloped the Book opened a limited-service Hilton Garden Inn in the Harmonie Park Portfolio.com © 2009 Cond Nast Inc. All rightsreserved.
terça-feira, 18 de dezembro de 2012
Michigan Governor Vetoes Guns-in-School Measure - Businessweek
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ABC News | Michigan Governor Vetoes Guns-in-School Measure Businessweek The 54-year-old Republican killed the measure, approved by the legislature less than 24 hours before the Newtown killings, primarily because it didn't » |
sexta-feira, 14 de dezembro de 2012
Preps Notebook: North Forsyth's Chambers might not be ready for Spencer - Winston-Salem Journal
mcfarlainofuqub1258.blogspot.com
Preps Notebook: North Forsyth's Chambers might not be ready for Spencer Winston-Salem Journal North Forsyth's chances of making an early-season statement in boys basketball took a nosedive when Michael Chambers , a 6-2 guard, tore ligaments in his right ankle in the early minutes of the season-opener at Glenn. Coach Sean Vestal of North said ... |
quinta-feira, 13 de dezembro de 2012
Cheryl Schuette out at Village Homes - Denver Business Journal:
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Village Homes, based in Englewood, is in Chaptefr 11 bankruptcy reorganization. The privately held company filed voluntary Chapteer 11 inNovember 2008, with $103. million in assets and $138.4 milliomn in liabilities, because of the current downturjn in the local housingb andmortgage industries. “Thi s transition has been discussed for a number of Matt Osborn, Village Homes’ seniot vice president of homebuilding, said of Schuette’ds departure from the company’s day-to-day operations. “The timing made some sense, basecd on our current Village Homes has abouty30 employees, down from 120 a year ago.
Schuette, now in her earlty 50s, started at Village Homes as an executivew assistant more than 20years ago. Over the she ascended to positions such as vice presideng of salesand marketing, senior vice president of and finally COO and president in the mid-2000s. Schuettse was one of the few women in a top executivse position ata U.S. homebuilding company. While at Villag e Homes, Schuette implemented “new ideas and new initiatives,” includinbg a more creative marketing strategy, Village Homese CEO John Osborn told the Denver Businesse Journalin 2005.
Business cohorts and friends such asCheriu Meyn, owner and principal of The Genesis Group real estated research firm in Englewood, call her a strong leader and
Village Homes, based in Englewood, is in Chaptefr 11 bankruptcy reorganization. The privately held company filed voluntary Chapteer 11 inNovember 2008, with $103. million in assets and $138.4 milliomn in liabilities, because of the current downturjn in the local housingb andmortgage industries. “Thi s transition has been discussed for a number of Matt Osborn, Village Homes’ seniot vice president of homebuilding, said of Schuette’ds departure from the company’s day-to-day operations. “The timing made some sense, basecd on our current Village Homes has abouty30 employees, down from 120 a year ago.
Schuette, now in her earlty 50s, started at Village Homes as an executivew assistant more than 20years ago. Over the she ascended to positions such as vice presideng of salesand marketing, senior vice president of and finally COO and president in the mid-2000s. Schuettse was one of the few women in a top executivse position ata U.S. homebuilding company. While at Villag e Homes, Schuette implemented “new ideas and new initiatives,” includinbg a more creative marketing strategy, Village Homese CEO John Osborn told the Denver Businesse Journalin 2005.
Business cohorts and friends such asCheriu Meyn, owner and principal of The Genesis Group real estated research firm in Englewood, call her a strong leader and
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