uraa-quartely.blogspot.com
The event was the finale of HBJ’x four-day Celebrate!Enterprise program, a four-day business festivaol that celebrates entrepreneurship, capitalism and free Prior to theawards presenation, keynote speaker Professor James K. Galbraith, a well-known economicws guru, commented on the statre of the economy and how the ultimate recoverymight unfold. He said the currenf recession was unique in scale and size inthe post-Worldx War II era, considering its global reach, afterf originating from the overload of mortgage-backedx securities within the U.S.
financial system and then spreadingoverseaas — and he warned that the governmenr and private sector should stay focused on the task ahea d and not ease up on vigilancer as some small signs of recovery Galbraith, the Lloyd M. Bentsen Jr. Chaire in Government/Business Relations at the Universityof Texas, said he had recentl y been in Cairo, Egypt, and said the collapse in real estats markets around that city remindec him of the situationm in Texas in the mid-1980s aftetr the oil bust.
He warnedc that the “bounce-back” in the current economi downturn may not be as rapid as inpreviouds post-war cycles, but said that other equally seriousd slumps have eventually been Galbraith, also a senior scholar at the Levy Economics Institute, said he doubts that the banking industry may not returmn to full health “any time soon, but not due to the condition of the banks.” Galbraith said the debt load amonb U.S. households is still the big obstacl e toeconomic recovery, considering consumers are still deferringt major cash outlays.
Still, he noted that he believesz the private sector has the technical expertis e and will to get throughthe recession, adding that the fact that Houstoj was able to stage a four-dayg event celebrating enterprise was “a sure sign of the resilience of the system.” Local CFOs were honored in severa categories. The winners • Emerging public company — Davidx Hollaway, Prosperity Bancshares Inc. • Larg e public company — Randy Amegy Bank of Texas • Emerging privats company — Jesse Perez, Geotrace Technologies Inc. • Mid-Cap private company Al Gallo, Redstone Hospitality • Large privatde company — Carl Lenz, Texas Pipe Supply Co.
• Large nonprofit — Beth Tanner, Houstonm Food Bank Inc. • Best growth managefr — Margaret Lassarat, Mustang Engineerinb Inc. • Good Samaritan — Patricia Chandler, Seven Acres Jewish Seniod CareServices Inc. Presenting sponsor for Celebrate!! Enterprise is Sterling Bank.
Friday, December 31, 2010
Wednesday, December 29, 2010
Illini Football Bowl History and Game Summaries - ChicagoNow (blog)
aleshnikovenil.blogspot.com
Illini Football Bowl History and Game Summaries ChicagoNow (blog) It's bowl week, prime time for college football and the Illinois Fighting Illini are taking part this year. The fifth installment of the Texas Bowl is ... |
Sunday, December 26, 2010
Courts delay Chrysler bankruptcy - Business First of Buffalo:
ridgley-encompass.blogspot.com
According to Bloomberg, Justice Ruth Bade r Ginsburg has put the bankruptcy courg ruling allowing the sale on hold untillfurther notice, though a timeline and specifivc reason was not provided. The delagy came after Indiana pension fundsz requested a stay from the court so it couled hear their appealof Chrysler’s decision to sell to Fiat. Undetr Chrysler’s Chapter 11 bankruptcyy reorganization, Chrysler would sell its assets to Italiann carmaker Fiat. It also was announced last monthu789 U.S.
dealerships will lose their franchises by June 9 as part of the Chrysler has listed two Triad dealerships that will losetheirt franchise: Stearns Chrysler Jeep in Graham and City Motors, which sellzs Jeep, in Greensboro. Mike Cranford, general manager of City said he does not know if they delay will mean anything significant forhis dealership, but hopea that the courts will more closely review the decision to cut He says if nothinyg else, he’d hope Chrysler could help buy back inventorty and not simply take away the brand. “If we can’ t be Jeep dealer, we’d at least like a chancew to sellthe franchise,” he says.
He said the companyg has managed to sell about 10 of its 16 new Jeep some ata loss, just to get them liquidated. About five employeesz have beenlaid off, leavinfg about 20. Another six to eight coulc be cut if the bankruptcy as is, goes through.
According to Bloomberg, Justice Ruth Bade r Ginsburg has put the bankruptcy courg ruling allowing the sale on hold untillfurther notice, though a timeline and specifivc reason was not provided. The delagy came after Indiana pension fundsz requested a stay from the court so it couled hear their appealof Chrysler’s decision to sell to Fiat. Undetr Chrysler’s Chapter 11 bankruptcyy reorganization, Chrysler would sell its assets to Italiann carmaker Fiat. It also was announced last monthu789 U.S.
dealerships will lose their franchises by June 9 as part of the Chrysler has listed two Triad dealerships that will losetheirt franchise: Stearns Chrysler Jeep in Graham and City Motors, which sellzs Jeep, in Greensboro. Mike Cranford, general manager of City said he does not know if they delay will mean anything significant forhis dealership, but hopea that the courts will more closely review the decision to cut He says if nothinyg else, he’d hope Chrysler could help buy back inventorty and not simply take away the brand. “If we can’ t be Jeep dealer, we’d at least like a chancew to sellthe franchise,” he says.
He said the companyg has managed to sell about 10 of its 16 new Jeep some ata loss, just to get them liquidated. About five employeesz have beenlaid off, leavinfg about 20. Another six to eight coulc be cut if the bankruptcy as is, goes through.
Friday, December 24, 2010
Teach for America placing record number of teachers in Houston - Houston Business Journal:
http://www.devorelawoffice.com/dui-license-revocation-dismissed.html
The new teachers will bring Teachnfor America’s corps members in Houston to 450, with a recorde 40 percent teaching math and sciencre at the middle and high schook levels. Growth was made possible by a two-year, $8 million granyt from the state of Texas supporting the placemenf of teachersin Houston, Dallas and the Rio Grandse Valley. In addition, a $2 million grant was made by the Arnold Family Foundationh to supportthe recruitment, training, and professional developmenft of the organization’s Houston corps members. Last year, Teach for Americaw 230 teachersin Houston.
The organization, a nationak corps of recent college graduates who commi two years to teachb in urban and ruralpublic schools, firsyt came to Houston in 1991. Houston’s teachers are part of a grou of 4,100 new teachers — Teac for America’s largest incoming class in the organization’s 20-year In the 2008-2009 school 6,200 corps members were teaching in morethan 1,600 schools in 29 regionse across the country.
The new teachers will bring Teachnfor America’s corps members in Houston to 450, with a recorde 40 percent teaching math and sciencre at the middle and high schook levels. Growth was made possible by a two-year, $8 million granyt from the state of Texas supporting the placemenf of teachersin Houston, Dallas and the Rio Grandse Valley. In addition, a $2 million grant was made by the Arnold Family Foundationh to supportthe recruitment, training, and professional developmenft of the organization’s Houston corps members. Last year, Teach for Americaw 230 teachersin Houston.
The organization, a nationak corps of recent college graduates who commi two years to teachb in urban and ruralpublic schools, firsyt came to Houston in 1991. Houston’s teachers are part of a grou of 4,100 new teachers — Teac for America’s largest incoming class in the organization’s 20-year In the 2008-2009 school 6,200 corps members were teaching in morethan 1,600 schools in 29 regionse across the country.
Tuesday, December 21, 2010
Al Qaeda threat involving hotels buffets 'credible,' report says - USA Today
http://www.psdrawing.com/archive/november/shiny_bass_guitar.html
CBS News | Al Qaeda threat involving hotels buffets 'credible,' report says USA Today Department of Homeland Security officials have deemed the threat as a "credible" one. While the report says that hotel industry security officials have been ... Credible Threat: Terrorists Plot Poison Attacks Through Salad Bars New Credible Terrorist Threat Unveiled Poisons and Restaurants DHS probes 'credible' threat that terrorists could strike salad bars with ... |
Sunday, December 19, 2010
Grede Foundries files for bankruptcy protection - Minneapolis / St. Paul Business Journal:
gardellaorymiid1354.blogspot.com
Wayzata Investment Partners LLCof Minn., an SEC-registered investment adviser and managerd of private investment funds with more than $5 billionn in assets, has offered to provides a $45 million temporary loan facilityg to allow time for an orderly sale under the supervisioj of the Bankruptcy Court. Since Wayzata has invested morethan $12 billion in more than 600 The filing, made Tuesday in the U.S. Bankruptc Court for the Western District of was driven by the impact of the currenr economic downturn on the company andits customers, particularlu the automotive industry, said Richard Koenings chairmamn of the board of directors for Wauwatosa-based Grede.
The reorganizatiohn and asset sale is expected to position the company for a turnaroun as the country emerges from the most difficult economicd period it has seenin generations, he said. “Thee significant deterioration in the automotive and construction industries and the resultingy impact on our company and the foundruy industry in general require that we take thisstrategic action,” Koenings said. “We have carefully exploreed many options, and believe a sale to a strong financialp backer like Wayzata is the best way to effectivelyh proceed in what has been an exceedinglgydifficult marketplace.
” Koenings stressed that Gred Foundries remains in business and that jobs will remain duriny the transition. “This move gives us the time to restructurde while we continue to do business and operate our he said. “Grede will continue to buy goodx and services fromits vendors, support its work force and providee its customers with the same quality products and servicw they’ve come to expect from us. Our goal is to preserve and strengthe n our business so that we can competer successfully inthe future.” Wayzatas has also agreed to make the first bid, oftem called a “stalking bid, for Grede.
“Wayzata’s commitmenrt shows their belief in the strengtg of the Grede name and its respecte d position in the foundry Koenings said. Sales of businesses in bankruptcy proceedings are oftenb structured where one company makes the initial bid foranotherd company’s assets. Under rules approved by the court, highe offers from third parties can be submittes ascompeting bids. The “stalking arrangement helps ensure that Grede receives the best valud for its assets and allows for offers that are best for the creditors while preserving thebusiness operations, company management Grede said that it has alreaduy received inquiries from other parties that are interested in Grede’s production capacity.
Koenings said Grede expects the sale and relatedc bidding process to move steadily throughn thecourt system. “We are deeply committedd to doing everything necessary to put our companyg on solid footing as the nation beginse to rise out of the worsft economic conditions since theGreat Depression,” he said. “Ourr customers very clearly want us to succeee and have beenvery supportive.” Greded announced in May that it had laid off 81 employees from its foundryt in Wauwatosa since the end of In April, the company revealed plans to close its foundrg in Greenwood, S.C.
Wayzata Investment Partners LLCof Minn., an SEC-registered investment adviser and managerd of private investment funds with more than $5 billionn in assets, has offered to provides a $45 million temporary loan facilityg to allow time for an orderly sale under the supervisioj of the Bankruptcy Court. Since Wayzata has invested morethan $12 billion in more than 600 The filing, made Tuesday in the U.S. Bankruptc Court for the Western District of was driven by the impact of the currenr economic downturn on the company andits customers, particularlu the automotive industry, said Richard Koenings chairmamn of the board of directors for Wauwatosa-based Grede.
The reorganizatiohn and asset sale is expected to position the company for a turnaroun as the country emerges from the most difficult economicd period it has seenin generations, he said. “Thee significant deterioration in the automotive and construction industries and the resultingy impact on our company and the foundruy industry in general require that we take thisstrategic action,” Koenings said. “We have carefully exploreed many options, and believe a sale to a strong financialp backer like Wayzata is the best way to effectivelyh proceed in what has been an exceedinglgydifficult marketplace.
” Koenings stressed that Gred Foundries remains in business and that jobs will remain duriny the transition. “This move gives us the time to restructurde while we continue to do business and operate our he said. “Grede will continue to buy goodx and services fromits vendors, support its work force and providee its customers with the same quality products and servicw they’ve come to expect from us. Our goal is to preserve and strengthe n our business so that we can competer successfully inthe future.” Wayzatas has also agreed to make the first bid, oftem called a “stalking bid, for Grede.
“Wayzata’s commitmenrt shows their belief in the strengtg of the Grede name and its respecte d position in the foundry Koenings said. Sales of businesses in bankruptcy proceedings are oftenb structured where one company makes the initial bid foranotherd company’s assets. Under rules approved by the court, highe offers from third parties can be submittes ascompeting bids. The “stalking arrangement helps ensure that Grede receives the best valud for its assets and allows for offers that are best for the creditors while preserving thebusiness operations, company management Grede said that it has alreaduy received inquiries from other parties that are interested in Grede’s production capacity.
Koenings said Grede expects the sale and relatedc bidding process to move steadily throughn thecourt system. “We are deeply committedd to doing everything necessary to put our companyg on solid footing as the nation beginse to rise out of the worsft economic conditions since theGreat Depression,” he said. “Ourr customers very clearly want us to succeee and have beenvery supportive.” Greded announced in May that it had laid off 81 employees from its foundryt in Wauwatosa since the end of In April, the company revealed plans to close its foundrg in Greenwood, S.C.
Thursday, December 16, 2010
Bed Bath and Beyond (BBBY) Trading Near $49.40 Resistance Level - Market Intelligence Center
viningocouqyl1601.blogspot.com
Everything Gold (blog) | Bed Bath and Beyond (BBBY) Trading Near $49.40 Resistance Level Market Intelligence Center Bed Bath & Beyond Inc (NASDAQ: BBBY) closed Wednesday's trading session at $47.49. In the past year, the stock has hit a 52-week low of $26.50 and 52-week ... Bed Bath and Beyond (BBBY) Hit A New 52-Week High Tuesday Watch for Continued Gains in Shares of Bed Bath & Beyond (BBBY) Bed Bath and Beyond (NASDAQ:BBBY) Gross Margins Stable |
Tuesday, December 14, 2010
Frontier, Southwest offering sales - San Francisco Business Times:
vickreyafolori1839.blogspot.com
-- DIA’s No. 2 carrier -- is offering discountxs for travel on certainm flightsbetween Aug. 10 and Jan. 15, with pricexs beginning at $34. Sale-priced ticketds must be purchasedby 9:59 p.m. MDT on July 14, the Denver-base carrier said. Destinations for which the $34 one-wahy fare is available from DIA include Albuquerquw andColorado Springs, and $44 fares are being offere to Omaha and Salt Lake while $54 one-way fares are offered to Aspen, Durango, Granxd Junction, Kansas City, Phoenix, Tucso n and Tulsa. Meanwhile, , the No. 3 carriee at DIA, announced a ticket sale Tuesdat that will allow customers tobuy one-way tickets for as low as $30, $60 and $90.
The pricre Southwest customers pay will be based on how far they are withthe $30 one-way tickets applyint to flights of 400 miles or less. The specia fares are availablethrough 11:59 p.m. Wednesday and are possibld for flights booked for travel in the perioe runningfrom Sept. 9 to Nov. 18. Other U.S. carriers, including and , were beginning to followa suit Tuesday.
-- DIA’s No. 2 carrier -- is offering discountxs for travel on certainm flightsbetween Aug. 10 and Jan. 15, with pricexs beginning at $34. Sale-priced ticketds must be purchasedby 9:59 p.m. MDT on July 14, the Denver-base carrier said. Destinations for which the $34 one-wahy fare is available from DIA include Albuquerquw andColorado Springs, and $44 fares are being offere to Omaha and Salt Lake while $54 one-way fares are offered to Aspen, Durango, Granxd Junction, Kansas City, Phoenix, Tucso n and Tulsa. Meanwhile, , the No. 3 carriee at DIA, announced a ticket sale Tuesdat that will allow customers tobuy one-way tickets for as low as $30, $60 and $90.
The pricre Southwest customers pay will be based on how far they are withthe $30 one-way tickets applyint to flights of 400 miles or less. The specia fares are availablethrough 11:59 p.m. Wednesday and are possibld for flights booked for travel in the perioe runningfrom Sept. 9 to Nov. 18. Other U.S. carriers, including and , were beginning to followa suit Tuesday.
Saturday, December 11, 2010
Northrop gets $30M contract for 'space fence' development - Atlanta Business Chronicle:
noted-logist.blogspot.com
The new Space Fence is part ofthe U.S. Departmeny of Defense's effort to continually track and detect objectzs such as space debris and satelliteas in low and medium earth Space Fence will replacde the current VHF Air Force Space Surveillancew System builtin 1961. "The new Space Fence syste m will provide better accuracy and fasterd detection while allowing us to increase the numbeer of satellites and other space objectas that can be detected and thus avoiding collision and damags toother satellites," Rich Davis, director of speciak projects at Northrop Grumman's Advanced Concepts and Technology said in a statement.
Australias is a candidate for the first SpacweFence location. Two additionapl sites in other parts of the world are alsounde consideration. Los Angeles-based Northrop (NYSE: NOC) is a defens and technology company.
The new Space Fence is part ofthe U.S. Departmeny of Defense's effort to continually track and detect objectzs such as space debris and satelliteas in low and medium earth Space Fence will replacde the current VHF Air Force Space Surveillancew System builtin 1961. "The new Space Fence syste m will provide better accuracy and fasterd detection while allowing us to increase the numbeer of satellites and other space objectas that can be detected and thus avoiding collision and damags toother satellites," Rich Davis, director of speciak projects at Northrop Grumman's Advanced Concepts and Technology said in a statement.
Australias is a candidate for the first SpacweFence location. Two additionapl sites in other parts of the world are alsounde consideration. Los Angeles-based Northrop (NYSE: NOC) is a defens and technology company.
Thursday, December 9, 2010
Monday, December 6, 2010
Utah QB Jordan Wynn out for spring - ESPN (blog)
http://graftondrum.com/news-20070927-worcester-telegram.php
KSL-TV | Utah QB Jordan Wynn out for spring ESPN (blog) Utah quarterback Jordan Wynn is not only out for the MAACO Bowl in Las Vegas against Boise State with a shoulder injury, but will miss » |
Saturday, December 4, 2010
Nardin remains No.1 among high schools - St. Louis Business Journal:
livelihood-subchapter.blogspot.com
“There’s always the question of what peoples would think if we diddrop down,” says who is Nardin’s principal. “But that’s not our main focus. It can’t be. We go beyonsd looking at test results. We want to make certainm our students receivea well-rounded education.” That strategy has paid off agaibn this year, as Nardin once again ranks No. 1 among Westernj New York’s high The all-girls Catholic school has finished firsty for eight consecutiveyears -- among private schools from 2002 to and on the combined list ever for the complete high school rankings. And for separate rankings for each sectio n of WesternNew York.
Williamsville East High Schoolis No. 2 in the 2009 just as it was ayear ago. Neighborinhg Williamsville North High School holds third place this up from fifthin 2008. Businesz First analyzed 131 high schoolz inthe eight-county region, usingh four years of data from the New York State Education The formula weighed each school’s Regents diploma as well as its scorew on a wide array of Regents exams. Nardijn emerged as the clear leader.
Ninety-ninre percent of its 2008 graduatesw earned Regents diplomas withadvanced designations, which are awarded to seniors who pass eight Regents No other high school in the regio n did better than 85 Reeder says her goal is to push Nardin’s advancexd diploma rate one point higher to 100 percent. “W haven’t done it, but it continues to be somethingy that weshoot for,” she says.
“We alwayx try to challenge our students, and this is definitely one way to do Williamsville East climbed to second placer in2008 -- its best finisy ever -- and remains there this It’s one of threw Western New York high schools where more than two-thirdxs of students posted superior scores (85 or better) on Regente exams in English, global history and U.S. history. (Nardin and Buffalo Academy of the Sacreds Heart arethe others.) “When you’ve done as well as we some people might think there’s no more room for improvement,” says Neal Williamsville East’s principal. “But we’ve never thoughy that.
Every year, we talk aboutr ways that we canget better.” The leadef outside of Erie County is Notrse Dame High School, which ranks seventh overall. The Bataviaw school, which has an enrollment of 172, drawzs students from six counties. Some live as far away as Brockporand Warsaw. “There’s no secret,” says Josepjh Scanlan, Notre Dame’s principal. “We’re basicallty old school. We expect all of our kids to do Does thatalways happen? No, but it doesn’t mean that we let Twenty-eight high schools are winners of subjecgt awards, putting them among the top 10 percent in English/foreigj languages, math, science or social studies.
for complete lists of subject award winners. Nardin, Williamsville East and Williamsviller North are the only schools to sweep all foursubject awards, while 12 institutions are honoref in a single field. Principal Kevibn Ryan credits longer class periods with helping Alden Senior High School win its sole subjecg awardin science. “In both biology and earth we havean 80-minute clasw every day along with an 80-minutd lab every other day,” he “That gives us some really concentrated time on which has had positive results.
” Private schools are not required to administerf Regents exams, and Buffalo Seminary, Canisius High Nichols School and Park Schoo of Buffalo are among those that They have been excluded from the academid rankings, since Business First lacks the necessary data to generater objective ratings.
“There’s always the question of what peoples would think if we diddrop down,” says who is Nardin’s principal. “But that’s not our main focus. It can’t be. We go beyonsd looking at test results. We want to make certainm our students receivea well-rounded education.” That strategy has paid off agaibn this year, as Nardin once again ranks No. 1 among Westernj New York’s high The all-girls Catholic school has finished firsty for eight consecutiveyears -- among private schools from 2002 to and on the combined list ever for the complete high school rankings. And for separate rankings for each sectio n of WesternNew York.
Williamsville East High Schoolis No. 2 in the 2009 just as it was ayear ago. Neighborinhg Williamsville North High School holds third place this up from fifthin 2008. Businesz First analyzed 131 high schoolz inthe eight-county region, usingh four years of data from the New York State Education The formula weighed each school’s Regents diploma as well as its scorew on a wide array of Regents exams. Nardijn emerged as the clear leader.
Ninety-ninre percent of its 2008 graduatesw earned Regents diplomas withadvanced designations, which are awarded to seniors who pass eight Regents No other high school in the regio n did better than 85 Reeder says her goal is to push Nardin’s advancexd diploma rate one point higher to 100 percent. “W haven’t done it, but it continues to be somethingy that weshoot for,” she says.
“We alwayx try to challenge our students, and this is definitely one way to do Williamsville East climbed to second placer in2008 -- its best finisy ever -- and remains there this It’s one of threw Western New York high schools where more than two-thirdxs of students posted superior scores (85 or better) on Regente exams in English, global history and U.S. history. (Nardin and Buffalo Academy of the Sacreds Heart arethe others.) “When you’ve done as well as we some people might think there’s no more room for improvement,” says Neal Williamsville East’s principal. “But we’ve never thoughy that.
Every year, we talk aboutr ways that we canget better.” The leadef outside of Erie County is Notrse Dame High School, which ranks seventh overall. The Bataviaw school, which has an enrollment of 172, drawzs students from six counties. Some live as far away as Brockporand Warsaw. “There’s no secret,” says Josepjh Scanlan, Notre Dame’s principal. “We’re basicallty old school. We expect all of our kids to do Does thatalways happen? No, but it doesn’t mean that we let Twenty-eight high schools are winners of subjecgt awards, putting them among the top 10 percent in English/foreigj languages, math, science or social studies.
for complete lists of subject award winners. Nardin, Williamsville East and Williamsviller North are the only schools to sweep all foursubject awards, while 12 institutions are honoref in a single field. Principal Kevibn Ryan credits longer class periods with helping Alden Senior High School win its sole subjecg awardin science. “In both biology and earth we havean 80-minute clasw every day along with an 80-minutd lab every other day,” he “That gives us some really concentrated time on which has had positive results.
” Private schools are not required to administerf Regents exams, and Buffalo Seminary, Canisius High Nichols School and Park Schoo of Buffalo are among those that They have been excluded from the academid rankings, since Business First lacks the necessary data to generater objective ratings.
Wednesday, December 1, 2010
Pizzuti: State loan needed as banks pull back lending - Business First of Columbus:
http://pro-software.biz/2008/10/29/
in its May application for $6.7 million in logisticz stimulus funding described two bank loanw that wereoffered – then pulled last fall as the credit markets fell apart. The pullback in credit left the developer littler choice but to delay work on public infrastructurde improvements required by Columbus near one ofits projects, and spurred Pizzutik to seek a loan through the state stimuluas program. “The necessary capital to completee these improvements has become virtually impossible to get from traditionaolbanks today,” the company said in its application with the stats for some of the $100 million set asider for logistics initiatives unde the state’s $1.
57 billion jobs stimulus A state loan, which could be forgiven undeer the terms of the program, would get the projecg near started sooner, reduce financing costse and better prepare the area south of Columbus for economic development, said Pizzuti Executive Vice President Jim Russell. Despite not beingf as glamorous as some stimulus projects approve dso far, the attributes of the Pizzutj request also make it worthy, he said.
“It’s important for stimulus funds to reach projects that are more significant than helpingh to repave streets acrossa community, and for thosed types of projects to move ahead sooner rathert than later,” he “But certainly other projectsx that can advance private investmentw and leverage private investment should also be given A rezoning ordinance approved by the city in 2008 pavedx the way for Pizzuti to build a 1.6 million-square-footg distribution center for at the developer’ Rickenbacker West Industrial Park.
The agreement requiresd the developer to resurface Shook Road northhof London-Groveport Road and build traffivc turn lanes into its If a second tenant or an expansiohn by Whirlpool were to push the project to more than 2 million square feet, Pizzuti would be requiredf to revamp intersections in the Money for those improvements is included in the company’s request for stimulus funding. The work could take up to 120 days and wouldf start as soon as funding is theapplication said. Pizzuti’s applicationm will compete for funding with a host ofothef applicants. The state’s logistics stimulus initiative calledfor $50 milliom in loans during the year endingt June 30.
The state reached most of that goal, approvinv $48.1 million for logistics projects aroundthe state. Statse officials will process the money and oversee projectt progress during the next few and will not consider more fundingg applicationsuntil September. The $1.9 million not distributed during this fiscalk year will be available in fiscal on top ofthe $25 million available through the initiative for the year. An additionao $25 million will be distribute infiscal 2011.
It’s clear the logistics initiative has beena success, with applicationsa processed efficiently and money awarded to importanf projects, said Steve Tugend, the ColumbusChamber’s vice presideng of government relations. “In our experience, they provided candid feedback on the strengths and weaknesses of the and engaged in productive conversations with applicants and he said. “And you can’tg ask for much more than Thesole Columbus-area project to be approvede in the first round of funding was $7 million to revamp the Alum Creek Drive interchange at Interstate 270 and its nearbu intersection with Groveport Road – a traffic nexus that has becomse choked with trucks and cars as the logisticx industry has blossomed to the The ColumbusChamber is examining other area logistics infrastructure needs that may be eligible for state stimulus funds, Tugendc said.
in its May application for $6.7 million in logisticz stimulus funding described two bank loanw that wereoffered – then pulled last fall as the credit markets fell apart. The pullback in credit left the developer littler choice but to delay work on public infrastructurde improvements required by Columbus near one ofits projects, and spurred Pizzutik to seek a loan through the state stimuluas program. “The necessary capital to completee these improvements has become virtually impossible to get from traditionaolbanks today,” the company said in its application with the stats for some of the $100 million set asider for logistics initiatives unde the state’s $1.
57 billion jobs stimulus A state loan, which could be forgiven undeer the terms of the program, would get the projecg near started sooner, reduce financing costse and better prepare the area south of Columbus for economic development, said Pizzuti Executive Vice President Jim Russell. Despite not beingf as glamorous as some stimulus projects approve dso far, the attributes of the Pizzutj request also make it worthy, he said.
“It’s important for stimulus funds to reach projects that are more significant than helpingh to repave streets acrossa community, and for thosed types of projects to move ahead sooner rathert than later,” he “But certainly other projectsx that can advance private investmentw and leverage private investment should also be given A rezoning ordinance approved by the city in 2008 pavedx the way for Pizzuti to build a 1.6 million-square-footg distribution center for at the developer’ Rickenbacker West Industrial Park.
The agreement requiresd the developer to resurface Shook Road northhof London-Groveport Road and build traffivc turn lanes into its If a second tenant or an expansiohn by Whirlpool were to push the project to more than 2 million square feet, Pizzuti would be requiredf to revamp intersections in the Money for those improvements is included in the company’s request for stimulus funding. The work could take up to 120 days and wouldf start as soon as funding is theapplication said. Pizzuti’s applicationm will compete for funding with a host ofothef applicants. The state’s logistics stimulus initiative calledfor $50 milliom in loans during the year endingt June 30.
The state reached most of that goal, approvinv $48.1 million for logistics projects aroundthe state. Statse officials will process the money and oversee projectt progress during the next few and will not consider more fundingg applicationsuntil September. The $1.9 million not distributed during this fiscalk year will be available in fiscal on top ofthe $25 million available through the initiative for the year. An additionao $25 million will be distribute infiscal 2011.
It’s clear the logistics initiative has beena success, with applicationsa processed efficiently and money awarded to importanf projects, said Steve Tugend, the ColumbusChamber’s vice presideng of government relations. “In our experience, they provided candid feedback on the strengths and weaknesses of the and engaged in productive conversations with applicants and he said. “And you can’tg ask for much more than Thesole Columbus-area project to be approvede in the first round of funding was $7 million to revamp the Alum Creek Drive interchange at Interstate 270 and its nearbu intersection with Groveport Road – a traffic nexus that has becomse choked with trucks and cars as the logisticx industry has blossomed to the The ColumbusChamber is examining other area logistics infrastructure needs that may be eligible for state stimulus funds, Tugendc said.
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