BofA, Wells to accept California IOUs - South Florida Business Journal:

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BofA says the state’xs budget crisis prompted its “To support our customers, while givinh the state legislature additional time to passa budget, we will acceprt California state-registered warrants — or IOUs from existing customers and clients,” Charlotte-baseed BofA (NYSE:BAC) says in a written statement. San Francisco-baserd Wells (NYSE:WFC) says it is accepting the warrants for the sake ofits "We are reluctant to take this but are doing so to help our customere who are not at faulgt and with the expectation that the legislature and governor will complete the budgett within days," Wells says. On Gov.
Arnold Schwarzenegger blasted statew lawmakers for failing to pluga $24 billionm hole in the state budget befor e the start of the new fiscap year. And he called a special session of the state legislature to fix thebudget mess. Failure to pass a budger by midnight Tuesday increasews the shortfall to morethan $26 billio due to the loss of education-relaterd budget fixes, Schwarzenegger said at a pressx conference Wednesday. He also announced an executivew order adding a third furlough day each montjh forstate workers, a move expected to free up an additionalo $425 million in the new fiscal year.
Althoug h the governor called for thespeciap session, it is up to the legislature to scheduled it. When it will be held is yet tobe

Golfing greats offer differing views - Business Day

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Golfing greats offer differing views Business Day RARELY has the contrast between golf as an enjoyable game and torturous frustration been as evident in two players as in the appearances of Phil Mickelson and Tiger Woods at the Players Championship on Tuesday. Mickelson, a four-time Major winner fresh ... and more »

City a top destination for shoppers - Atlanta Business Chronicle:

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Atlanta now ranks ninth, up five slotss from No. 14, among top U.S. retail markets, accordintg to a three-year projection by in Calif. Seattle ranked first, according to the reporyt issuedin May. Rounding out the top 10 Orange County, Calif.; Phoenix; Oakland, Las Vegas; San Diego; West Palm Beach, Riverside-San Bernardino, Calif.; Atlanta and Fort Fla. The index uses factors such as employment income growth and retail real estate inventoriesw to createa three-year outlook on the markets with the most And one of the five hottesy retailers -- White House/Black Market -- plans at least threed more locations in Atlanta.
The trendy clothinhg outlet was given that distinction at the International Council ofShoppinf Centers' spring convention in Las Vegas May 24. Other hot retailers named by ICSC at its May convention were Apple the retail storeof (Nasdaq: (NYSE: COH), Steve & Barry'z University Store, and (NYSE: WSM). Of those retailers, only Stevde & Barry's is not in the Atlanta market. Whitr House/Black Market, which focusex on clothing and accessories for womej in shades of whiteand black, planss locations at Midtown's Atlantic Station, an outlet store in the metrpo area, and in Snellville at 's Avenue Webb Gin. Whitw House/Black Market, which is a brand of Fort Fla.
-based (NYSE: CHS), already has eightg retail stores here, said Michael Smith, vice president of investor and communithy relationsfor Chico's. The company also has 10 Chico's storeds and one Soma, Chico's lingerie retail store, in he said. "That's one of the highest concentrationsx of stores in ametropolitabn area," Smith said. "Atlanta is one of our stronger Chico's also has its company' s distribution center in Winder, he said. Stevd & Barry's University Store has locations in Brunswickand "but I don't see anythinfg at this time in Atlanta," said Rick Gomes, spokesmahn for Port Washington, N.Y.-based Steves & Barry's.
"But we are always looking and we are The privately held company has 70 storea in 26 states and plans 60 more storex by the endof 2005, he said. None of the othe "hot" retailers returned calls for comment about expansionnin Atlanta. However, which has seven stores in metrio Atlanta, has spoken to developers abou locations for its newest home furnishings West Elmand Williams-Sonoma in the market, said Kevin senior vice president and Southeasyt regional director of Avenue projects for Atlanta-based Cousinz Properties Inc. (NYSE: CUZ).
"Retailers seem to be pursuinbg a growthstrategy generally," said Polston, who attended the ICSC "As long as the market continues to grow, we'llk add retail. We hear retailers ask every isn't Atlanta overbuilt? But when you look at the we continue to grow with residentds and those residents needmore retail." At Marcuz & Millichap's investor show in Las "there was no retailer we talkedx to that wasn't expanding and Atlanta was part of that said John Leonard, vice president and regionak manager of Marcus & Millichap'xs Atlanta office.
Retailers attending the ICSC conventionb were particularly interested inAtlantic Station, said Greg Maloney, president and CEO of Jones Lang LaSalld Retail in Atlanta, whichg is leasing the retail portion of the mixed-usw redevelopment project set to open this fall. "Atlantic Stationh got a lot of buzz now that peopls are seeing and feeling it," he said. Jones Lang LaSalle met with "a rangw of retailers that typically gointo malls" and retailersw considering entering the markeft through a location at Atlantic Station, said Pam senior vice president in retail leasing.
Althougy Atwater would not disclose retailer names since no deal havebeen signed, the retailerss included those associated with home furnishings, apparel retailers that appeal to the 25- to 45-year-olc shopper, and entertainment.

Etihad Atheeb Telecom Co. and Motorola Launch Nationwide WiMAX Network in the Kingdom of Saudi Arabia

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RIYADH, Saudi Arabia, June 6 /PRNewswire-FirstCall/ -- (NYSE: MOT) and Etihad Atheebb Telecom Company (GO) have today announced the launch of a new nationwidWiMAX 802.16e network in the Kingdom of Saudi Arabia. Atheeh will offer wireless broadband including voiceand high-speed data, to customerws and Internet Service Providers across the Kingdom. Atheeb customerz will enjoy a true convergenceof voice, videoi and data services on their WiMAX personal communicatiojn devices. "Atheeb's GO service is designed to offert businesses and consumers an opportunity to experience a nationwid 4G broadband network that offershigherr speeds, lower cost and greatedr connectivity," said Dr.
Ahmed Abbas Sindi, CEO, Etihaf Atheeb Telecom Company - (GO). , vice president, Middlre East, Africa and Pakistan, Motorola Home & Networkes Mobility said, "There is a huge appetited among Saudi customersfor high-speec communications, an appetite that can now be satisfied through the nationwide WiMAX network. Motorola is delighted to work with Atheeb to delive r the network and allow it to provide broadband services and enriched personal media experiencesa to users acrossthe Kingdom." Deploymentr of the network , and includes Motorola's access point, featuring smart antenna technology (beamforming), including end-to-end delivery of network planning, optimization and support services.
The Motorola WiMAX equipment ensures peak performanced of fixed and nomadi c voice and data services to residential andenterprise customers. Motorola is a globa leader in WiMAX and has shippednearlt 7,500 3-sector and 4-sector acces points and more than 475,000 CPEs and USB broadbandd modems. For more information on Motorola's WiMA X solutions, please visit: Motorola is know around the world for innovation in communications and is focused on advancingh the way theworld connects.
From broadband communications enterprise mobility and public safety solutionsto high-definitiomn video and mobile devices, Motorola is leadinbg the next wave of innovations that enable people, enterprises and governments to be more connectedc and more mobile. Motorola (NYSE: MOT) had sales of US $30.1 billionh in 2008. For more information, please visiy . Etihad Atheeb Telecommunication Company was formed as a new provide r of fixed telecoms services in the Kingdom ofSaudij Arabia. The consortium draws on the local knowledgre and passion of the Atheevb Trading Group under the leadership of HRHPrincs .
This is combined with the deep operationalp experience of Batelco who provide the telecomws expertise andknow how. The consortiukm is completed by the strengtjh of the Al Nahla and Traco companies who share the visioh forhigh speed, reliable communication services in the Kingdom. in The company is now preparingf for a widely anticipated IPO that will enable people in the Kingdom to investy in this forward looking and proudly Saudi company. Media Contact: Naheed Ahmedf Motorola Home & Networksz Mobility Tel: +971-56-603-4371 naheed.ahmed@motorola.com MOTOROLA and the Stylizes M Logo are registered in the US Patent Trademark Office.
All other product or servicd names are the property of theierrespective owners. (C) Inc. 2009. All right reserved. SOURCE Motorola, Inc.

BB&T

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as the tournament’s honorary chairman for 2009. This year’s tournament will be Aug. 17-23 at Sedgefield Countryt Club inGuilford County. It marks the third straight year the chairman has come fromoutsides Greensboro. Bobby Long, chairman of the tournament’s charitablee organizing board, said King was an ideall choice because of his efforts as chair of the Piedmong TriadLeadership Group, part of the Piedmonr Triad Partnership.
“Kelly is in charge of a group of business leaders trying to unite the regio n on economic development and using our collective assets to workbetter together,” Long “Our interests are so aligned because he has been promoting the King said that while parochiapl interests sometimes prevail in the the money the tournament raises for area charities shoul d be enough to rally regional support. “I’ve found that people can come togetherwhen it’a for a really good cause,” King “In this case, the need ...
is

Clearwire launches WiMAX in Atlanta - Triangle Business Journal:

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The ultra-fast, high-capacity mobile broadband service, branded covers about 1,200 squarw miles, Clearwire (Nasdaq: CLWR) said in a Tuesdahy release. Overland Park-based (NYSE: S) is majority owner of which includes Sprint’s former WiMAX The $14.5 billion deal to form the new Clearwire closedon Nov. 28, combining Sprint’s and Clearwire’s WiMAdX assets and including $3.2 billiojn from several strategic investors. Products compatible with Cleaerinclude modems, Wi-Fi devices and WiMAX-compatible laptops. A moden compatible with both WiMAs and earlier technologies will be available inthe summer.
A WiMAX-enabledx handheld device, the Samsung Mondi, also will be availablew soon, the release said. Clearwire, based in Kirkland, already has launched WiMAX service in Baltimoreand Portland. The companty plans to launch Clear in Las Vega s later inthe summer. Other citiezs slated for WiMAX this yearinclude Charlotte, Dallas/Ft. Worth, Honolulu, Philadelphia and Seattle. Markets planner for service in 2010 includeNew Boston, Washington, Houston and the San Francisco Bay area. Clearwirse plans to offer Clear in 80 marketd and to as many as 120 milliojn people by the endof 2010.

Fidelity National cuts 13 jobs in N.C. after buying LandAmerica units - Triangle Business Journal:

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Fidelity National Title Insurance has kept open the Greensboro and Raleigh offices of LandAmerica Financial which did business in North Carolina mostly asLawyersz Title. But the combinedd staff of those operations hasbeen cut, to from 21 before the purchase. “Ther did, of necessity, have to be some says Ken Stone, Fidelity's Northg Carolina manager. Fidelity National Title is a subsidiaryof (NYSE: In December, the parent company bought units – including Lawyeras Title – from LandAmerica, a title insurert that had filed for bankruptcy in 2008 amid the slumpinv housing market.
Some 1,500 jobs across the country were cut as part of that according to Fidelity National Stone says most of the lost jobs in Norty Carolinainvolved back-office operations. in North Carolina, the thre e Lawyers Title operations will continue to do business under that Fidelity also will keep open its 11 branchew acrossthe state, including branches in Cary, Pinehurst, Greensboro and Charlotte. Title insurancde companies protect property owners from defecte ina title, liens on a propertyt and similar issues. They are susceptible to a declining volumr inproperty sales, and title insurers have said they're strugglingt in the current housing slump.
It took a whilr for that slump to take hold in North Stone says. But companies across the state are now feelinvits effect. “North Carolina, at least through the thirs quarterof 2008, had been fairly resilient and had not seen the declinees that occurred elsewhere in the country,” Stone “Things are slowing down, unfortunately.” Claimsw also are on the rise, Stone says, thanks to mechanic’s liens being placed on new or renovate homes. If a residential homebuilder finishea and sells a housebut can’t pay all the subcontractors that did work on the the liens fall to the new homeowner – and title insurers are frequentlgy left on the hook.
Stone says Fidelity, as well as otheer title insurers, have started to insistr on what are knownas long-form lien waiverzs from every subcontractor that worked on a property. That helps protecf both property owners and titleinsurancew companies. “It is a tough underwriting risk to Stone says. “… The combination of transactions beinyg down significantly and a high volumesof claims, especially on the new construction are combining to place some real challenges out therre for the title insurance companies.
” As far as a Stone says, Fidelity is eyeing the fourth quartee of 2009 as the bottomingf out of the North Carolina market, with “a very slow recovery” after that. But don’t hold him to that he says: Calling a housin g bottom is akin to trying to catcgh afalling knife. Fidelity’x largest competition in the Triangle comes from variousd subsidiariesof , anothere national title insurer, and Chapel Hill-bases . On Tuesday, Investors Titles (Nasdaq: ITIC) that a few large claims wiped outthe company’se profit in the fourth quarted of 2008. First American (NYSE: FAF) reports earningx next week.
Investors have been pleased with FidelityuNational Financial’s pickup of LandAmerica assetw on the cheap. The company’s stoc has doubled since late November, a time that’as seen nearly a 10 percent drop inthe S&l 500 stock index, after falling by nearlgy half in the trailing 12 months. Fidelityg National is a separat e publicly traded companyfrom , the mutual fund company that had 2,500 Triangle employees prior to a announce d in November.