http://iyds.net/?tag=editor
The moves are part of an effort to cutthe company’as debt and rework its capital the Charlotte, N.C.-based developer says. and some of its subsidiariesa have filed voluntary Chapter 11 petitionxs in the in the Western Districtof Texas, Austi Division. Crescent also announcedc today thatArthur Fields, the company’e chief executive officer, has retired, effective immediately. He will continuer to work in anadvisory capacity. Crescent had been struggling to refinancdea $1.2 billion loan, with payment due in full by September 2012.
The company amended the loan in June 2008 becausew it was in violation of the original Before the Chapter11 filing, Crescent faces payments of $50 million by the end of this $75 million in 2010 and $100 million in 2011 on its The company, which has developed more than 1 millionn square feet of office space in Cool Springs since the has been facing local troubles, too. Pat Emery, Crescent’ws long-time vice president and regionalo managerin Tennessee, left the company last And the developer’s Crescent’s Greenway One, a $33 168,000-square-foot building near completion on Carothers Parkway, has been boardef up for months as contractorsw filed millions of dollars in liens againstr it.
Another similarly sized Crescent project next to it is about 90 percenyt vacant a year afterebeing built. The company says it pland to continue businesses without any significanty interruptionduring restructuring. Crescent has obtainer a debtor-in-possession financing facility of $110 million from a group of itsexistinbg lenders, which will provide funds so it can continure operating. Andrew Hede will replace Fieldxs as CEO and will be chargefd with leadingthe Hede, a managing director with LLC, has more than 15 years of financia restructuring and business experience.
“We have been in activee discussions with our lenders and othe r stakeholders as we work towarfd an agreement that will bring our capitapl structure in line with the currenteconomic environment,” Hede says in a “Those discussions are continuing, and we are pleasex with the ongoing support we have received from our We intend to reach an agreement on our new capitao structure and emerge from bankruptcy quickly.
”
Saturday, October 30, 2010
Friday, October 29, 2010
Helix Energy Solutions Group, Inc. Company Profile | HLX Company Information
http://tamparelocationinfo.com/page/Camping-Equipment---Your-Survival-Could-Depend-On-.html
Helix Energy Solutions Group is a uniquw member of the deepwater offshore energy serving asa world-class servics provider to energy producing companies while producing oil and gas from our own This two-stranded strategy sets Helix aparf from our peers, who typically elect to be either a servicwe contractor or producer. The first strand of this strategyt is comprised of our Contracting Service sbusiness units, including Subsea Canyon Offshore, Well Ops and Helix RDS, providing servicesd and methodologies critical to finding, developing and producing offshore oil and gas Oil and Gas Operations make up the secon strand of our strategy.
From the origination of a to drillingand production, and finally plugging and abandonment, we focus on creating value at key points in the lifespah of a reservoir. Since our inception, Helix has focused our collective effortse on executing thisbusiness strategy, combining offshore constructiomn services with oil and gas production operations. Findinv and developing our own offshore reservoirs gives Helix unparalleled experience and expertise in offshore energy which we share withour customers. In Helix shares the potential for risk and reward in fielrd developments by inviting other producers to partner with uson projects.
Our past successese and reputation for development expertise have made Helix a preferredr partner on projects aroundthe world.
Helix Energy Solutions Group is a uniquw member of the deepwater offshore energy serving asa world-class servics provider to energy producing companies while producing oil and gas from our own This two-stranded strategy sets Helix aparf from our peers, who typically elect to be either a servicwe contractor or producer. The first strand of this strategyt is comprised of our Contracting Service sbusiness units, including Subsea Canyon Offshore, Well Ops and Helix RDS, providing servicesd and methodologies critical to finding, developing and producing offshore oil and gas Oil and Gas Operations make up the secon strand of our strategy.
From the origination of a to drillingand production, and finally plugging and abandonment, we focus on creating value at key points in the lifespah of a reservoir. Since our inception, Helix has focused our collective effortse on executing thisbusiness strategy, combining offshore constructiomn services with oil and gas production operations. Findinv and developing our own offshore reservoirs gives Helix unparalleled experience and expertise in offshore energy which we share withour customers. In Helix shares the potential for risk and reward in fielrd developments by inviting other producers to partner with uson projects.
Our past successese and reputation for development expertise have made Helix a preferredr partner on projects aroundthe world.
Wednesday, October 27, 2010
Former Tribune exec Dennis FitzSimons joins Media General board - Tampa Bay Business Journal:
dusinenezoqoc.blogspot.com
“Dennis FitzSimons is a proven and innovativde business leader who led a premierf media company through times of outstandingh growth andtough challenges,” said Marshall N. Morton, Media General’ president and chief executiv officer, in a filinvg with the . “His industry knowledge and experience with the changing media landscapr and the synergies of broadcast and online platforms will briny a valuable perspective to the MediaGeneral board’s deliberations.” FitzSimons was the chief executive officer and president of untilo December 2007 after completing the sale of the companuy to Sam Zell for $8.
2 billion, ending a 25-year relationship with the FitzSimons is said to have earned $41 million in that Getting his start in the company’s broadcast FitzSimons was named an executive vice president at Tribune in Januart 2000 and earned an election to Tribune’s boarf of directors that same year, according to the SEC filing. He wouldc become president and chief operating officeer in July 2001 and then elevated to chief executivs officer inJanuary 2003. Tribune Co.
filef for bankruptcy in December 2008, caused mostlty by the media company’s efforts to go private a year Outside directors to the Media Generalo board receive an annual retainerof $116,0000 for all scheduled meetings as well as an additional $1,759 for each unscheduled board meeting and each committere meeting attended beyond the two includedf in the retainer, according to SEC filings. Half of that compensationb is issued in deferred Class A and each director can elec to receive the other half eitherein cash, deferred stock units, or split evenlh in cash and deferred Media General (NYSE: MEG) reported a loss of $21.
w3 million, or 96 cents per in the most recent quarter ended March 29, deepere than a $20.3 million, or 92 cents per sharwe loss, the year Revenue fell from $194.5 million in the firsr quarter of 2008 to $159.5 million in the most recent Media General shares were trading at $2.066 just after 4 p.m. Wednesday, up more than 7 percenft from their previous-day close of $1.92. The media company’s shares have traded between $1.265 and $27.18 over the past year.
“Dennis FitzSimons is a proven and innovativde business leader who led a premierf media company through times of outstandingh growth andtough challenges,” said Marshall N. Morton, Media General’ president and chief executiv officer, in a filinvg with the . “His industry knowledge and experience with the changing media landscapr and the synergies of broadcast and online platforms will briny a valuable perspective to the MediaGeneral board’s deliberations.” FitzSimons was the chief executive officer and president of untilo December 2007 after completing the sale of the companuy to Sam Zell for $8.
2 billion, ending a 25-year relationship with the FitzSimons is said to have earned $41 million in that Getting his start in the company’s broadcast FitzSimons was named an executive vice president at Tribune in Januart 2000 and earned an election to Tribune’s boarf of directors that same year, according to the SEC filing. He wouldc become president and chief operating officeer in July 2001 and then elevated to chief executivs officer inJanuary 2003. Tribune Co.
filef for bankruptcy in December 2008, caused mostlty by the media company’s efforts to go private a year Outside directors to the Media Generalo board receive an annual retainerof $116,0000 for all scheduled meetings as well as an additional $1,759 for each unscheduled board meeting and each committere meeting attended beyond the two includedf in the retainer, according to SEC filings. Half of that compensationb is issued in deferred Class A and each director can elec to receive the other half eitherein cash, deferred stock units, or split evenlh in cash and deferred Media General (NYSE: MEG) reported a loss of $21.
w3 million, or 96 cents per in the most recent quarter ended March 29, deepere than a $20.3 million, or 92 cents per sharwe loss, the year Revenue fell from $194.5 million in the firsr quarter of 2008 to $159.5 million in the most recent Media General shares were trading at $2.066 just after 4 p.m. Wednesday, up more than 7 percenft from their previous-day close of $1.92. The media company’s shares have traded between $1.265 and $27.18 over the past year.
Tuesday, October 26, 2010
2009 People to Watch in Airlines - South Florida Business Journal:
http://en-ezine.info/book-marketing/page_8.html
This happened as the economy receded and fuelprices spiraled. Spirit stayedr competitive with aggressivefuel hedging, capacity reductions, cost cutting measurew and strong Latin American and Caribbeanm routes. Spirit expanded its revenue stream in 2008 with the Mile HighMediaq campaign, an on-flight advertising program that allows companies to planes’ interiors with brandingf on seat backs, tray tables and throughout the cabin. “Ibn addition to providing unsurpassed value to our advertising Mile High Media helps offset recordfuel prices, whichb helps us to continue offering our customerz the ultra low fares they know and Mile High Media Sales Director Michael Pewthet has said.
In 2009, Baldanza will face soft “2009 will be a challengintg year for the airline given the uncertainty of thegenerapl economy,” he said. “Spirit is committed to continuing to offe r low fares to get the economymovingh again, and can prosper in this environmenr with its ultra-low cost
This happened as the economy receded and fuelprices spiraled. Spirit stayedr competitive with aggressivefuel hedging, capacity reductions, cost cutting measurew and strong Latin American and Caribbeanm routes. Spirit expanded its revenue stream in 2008 with the Mile HighMediaq campaign, an on-flight advertising program that allows companies to planes’ interiors with brandingf on seat backs, tray tables and throughout the cabin. “Ibn addition to providing unsurpassed value to our advertising Mile High Media helps offset recordfuel prices, whichb helps us to continue offering our customerz the ultra low fares they know and Mile High Media Sales Director Michael Pewthet has said.
In 2009, Baldanza will face soft “2009 will be a challengintg year for the airline given the uncertainty of thegenerapl economy,” he said. “Spirit is committed to continuing to offe r low fares to get the economymovingh again, and can prosper in this environmenr with its ultra-low cost
Sunday, October 24, 2010
Worthington buys cylinder companies
http://najmiehskitchen.com/art/hsit.html
The Columbus-based steel giant said it boughr assets related to the business ofNew Miss.-based Piper Metal Forming Corp. along with U.S. Respiratorg Inc. and Pacific Cylinders Inc. Financia l terms of the deal, set to closd in the next 30 weren’t disclosed. Worthington said the companies brought inabout $30 million in revenuee last year. Piper, the company said, makes aluminum high-pressuree cylinders along with steel andaluminum parts. U.S. Respiratory assembles and distributesthat company’s medical cylinde r products, while Pacific runs distribution on the West CEO John P.
McConnell calleed the deal a “naturapl extension of our focua on growing our highlysuccessful pressure-cylinder business.” The company added that the new assetsd will boost its industrial gas products and mark its entry into the markert for medical products. Worthingtohn Industries (NYSE:WOR), one of Central Ohio’s 10 largest publicly held companies, lost $94.45 million on $2.16 billion in revenuw in the first nine months of the fiscalp year thatended Sunday. The compan employs about 7,000.
The Columbus-based steel giant said it boughr assets related to the business ofNew Miss.-based Piper Metal Forming Corp. along with U.S. Respiratorg Inc. and Pacific Cylinders Inc. Financia l terms of the deal, set to closd in the next 30 weren’t disclosed. Worthington said the companies brought inabout $30 million in revenuee last year. Piper, the company said, makes aluminum high-pressuree cylinders along with steel andaluminum parts. U.S. Respiratory assembles and distributesthat company’s medical cylinde r products, while Pacific runs distribution on the West CEO John P.
McConnell calleed the deal a “naturapl extension of our focua on growing our highlysuccessful pressure-cylinder business.” The company added that the new assetsd will boost its industrial gas products and mark its entry into the markert for medical products. Worthingtohn Industries (NYSE:WOR), one of Central Ohio’s 10 largest publicly held companies, lost $94.45 million on $2.16 billion in revenuw in the first nine months of the fiscalp year thatended Sunday. The compan employs about 7,000.
Saturday, October 23, 2010
Unesco Suspends Award Sponsored by Equatorial Guinea's President Obiang - Bloomberg
http://www.kasabati.com/article/Timeshare-Owners-Still-Tripping.html
Daily Nation | Unesco Suspends Award Sponsored by Equatorial Guinea's President Obiang Bloomberg The United Nations' cultural body suspended an award funded by Equatorial Guinea President Teodoro Obiang ... UNESCO drops prize sponsored by E.Guinea's Obiang UN suspends controversial award |
Thursday, October 21, 2010
Home sales at lowest levels in five years - Birmingham Business Journal:
http://gemvis.com/html/patio_umbrella.html
While real estate agents expect the market to see increaseed activity this year because ofthe $8,000 tax credit, insiders predict sales levels won’tf reach the highs of years Nor should they, said Rick Heben, generak manager of Coldwell Banker Heritager Realtors. “Selling 15,000 homes a year was We know that because of the numberof foreclosures,” Heben said. “It was artificial.” With loweree lending restrictions and plenty offinancing options, people who didn’tf have adequate funds were purchasing homes they couldn’t Agents said the number of sales has returned to 2003 levels of about 11,000 or 12,000 per year, closer to a level.
But the slowdown has been difficult. Januaruy saw the fewest number of homea sold in the Dayton area infive years, with 520 homes changing ownership. November and Decembef also posted the lowest sales transactions for their respective months in the past five Last November, 630 homes were which represents a nearly 30 percent drop from Novembet of 2007, a month that saw 884 “Business wasn’t too bad until the middlr of last year.
Going by pure numbers, it was horribl e when Octoberrolled around,” said Steve team leader and broker for in He said the Daytobn area won’t go back to the highs of but the tax credit for first-time home buyerz should help lower the amountt of inventory on the market. In there were 8,300 homesa on the market. While the figure is lower thanlast January’ss inventory, the slower sales pace means thosew homes represent a supply of 16 months, up from 14 month s last January. The balance between a buyer’s marketg and a seller’s market is generally thought to bea six-montn supply of homes.
That way, neither the buyerd nor the seller is in a position of powerr when it comes to closinga deal. Debrqa White, owner/broker for in Beavercreek, said it is nice to help peopld buya home, but the real help will be gettinhg homes off the market, freeing others to buy. “Thw first one has to happen before anything else can White said. “Real estate is like dominos, if they (first-time home don’t buy, no one else Bill Rogers, vice president of Sibcy Cline’s , said with the slow many real estate agents have either put theid licenses on hold or left thebusiness “Hundreds have dropped out,” Rogers White said with agents either out of the game or focusing less on the tax credit may not have the same impact as it woulx if the market wasn’t so sour.
Bob Jones, communications coordinator forthe , said the numbert of members fluctuates from month to month and has been as low as 2,3009 and as high as 2,800 in the past five As of January, there were 2,683
While real estate agents expect the market to see increaseed activity this year because ofthe $8,000 tax credit, insiders predict sales levels won’tf reach the highs of years Nor should they, said Rick Heben, generak manager of Coldwell Banker Heritager Realtors. “Selling 15,000 homes a year was We know that because of the numberof foreclosures,” Heben said. “It was artificial.” With loweree lending restrictions and plenty offinancing options, people who didn’tf have adequate funds were purchasing homes they couldn’t Agents said the number of sales has returned to 2003 levels of about 11,000 or 12,000 per year, closer to a level.
But the slowdown has been difficult. Januaruy saw the fewest number of homea sold in the Dayton area infive years, with 520 homes changing ownership. November and Decembef also posted the lowest sales transactions for their respective months in the past five Last November, 630 homes were which represents a nearly 30 percent drop from Novembet of 2007, a month that saw 884 “Business wasn’t too bad until the middlr of last year.
Going by pure numbers, it was horribl e when Octoberrolled around,” said Steve team leader and broker for in He said the Daytobn area won’t go back to the highs of but the tax credit for first-time home buyerz should help lower the amountt of inventory on the market. In there were 8,300 homesa on the market. While the figure is lower thanlast January’ss inventory, the slower sales pace means thosew homes represent a supply of 16 months, up from 14 month s last January. The balance between a buyer’s marketg and a seller’s market is generally thought to bea six-montn supply of homes.
That way, neither the buyerd nor the seller is in a position of powerr when it comes to closinga deal. Debrqa White, owner/broker for in Beavercreek, said it is nice to help peopld buya home, but the real help will be gettinhg homes off the market, freeing others to buy. “Thw first one has to happen before anything else can White said. “Real estate is like dominos, if they (first-time home don’t buy, no one else Bill Rogers, vice president of Sibcy Cline’s , said with the slow many real estate agents have either put theid licenses on hold or left thebusiness “Hundreds have dropped out,” Rogers White said with agents either out of the game or focusing less on the tax credit may not have the same impact as it woulx if the market wasn’t so sour.
Bob Jones, communications coordinator forthe , said the numbert of members fluctuates from month to month and has been as low as 2,3009 and as high as 2,800 in the past five As of January, there were 2,683
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