viernes, 30 de noviembre de 2012

Local hedge funds work to avoid getting clipped - Puget Sound Business Journal (Seattle):

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"We know the economy is bad and the stoco marketis ultravolatile, but hedge fund can succeed on the up and the down side if they'rw done right," Barokas said. Mercefr Partners of Bellevue launchedits $5 millionm fund Jan. 2, just a few days after what most local hedge fund managers have described as a torturousa year ofbad returns. Goinv forward, most fund managers expect anothe rough year in thestoci market. While every firm has its preferrer sectors, managers say 2002 will be a year for cautiouw stock pickers looking for opportunities withinh thewider market. for instance.
"Post 11, we see security, intelligence and defensde stocks as havingreal potential," Barokas "It's a stock-picker's market." Meanwhile, Mercer Partners, whichy was down one-third of 1 or about 30 basix points earlier this week since Jan. 2, is avoidinvg two sectors that have taken a beatingbsince mid-2000 - technology and telecommunications. Mercer Partners is a market-neutrall fund, which means its exposure on the short and long sideis equal. Investing in a hedgs fund is not for the faintof heart.
A hedge fund is a private pool of fundsz from wealthy investors that uses a wide range of many of which are considered excessively risky by traditionalmutuak funds. Managers use investment tools such asselling short, trading options and derivatives, and high-margin trading, and they can doubled the fund's capital base by borrowingb against the fund. With highe risk comes higher reward, hedge fund managers say. Of course, there is always the chance of big Ironically enough, the firm that had the worst performingy fund here in the Puget Sound region in 2001, of Seattle, also had the fund with the highestf returns.
Its Quillayute Fund, established in July 2000, finishe d 2001 down more than26 percent. But its JK Navigato r Fund, started in 1997, finished the year up nearly 10 To put thatinto perspective, the S&Pl 500 closed out 2001 down nearlyy 12 percent, its second down year in a row. Both fundx employ a long-short strategy, said Brian Klein, a managingf partner at Steelhead. Steelhead will continue its currenr strategy of picking stocksa based not on industrgy fundamentals but on individual circumstances within eachparticulart company, Klein said. "We specializwe in contrarian and out-of-favor stocks that are trading at low valuations and offetgood upside," he said.
"For example, we're looking for companies that are refocusinhg on theircore competencies, have had significant management changes or that are about to undergo a radica l change of direction after a periodc of capital misallocation." Nightingalr & Farber Capital LLC of Seattle also had a good Its Edge Investors Fund, which employs a market-neutrak strategy, was up 7 percent in after being down 7 percent the year before. Gary a partner at Nightingald & Farber, said the firm will continue to invest inthe chemical, biotechnology and retail sectors.
Farber said, is a good sector for stockl pickers because it is not as dependent on industry so fund managers can better take advantageof what'x going on inside an individualo company's operations. Most locallyu based hedge funds did not perforn as well as Steelhead orNightingalee & Farber.

miércoles, 28 de noviembre de 2012

Demand for rentals on the rise, but some say now is time to buy - Business First of Columbus:

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Demand for rental properties in Houston has continued to according to data reported bythe . Over the past demand for condos and townhouses has rise more than26 percent, HAR reports. Seventy-onr percent of Americans cite a preferencw to rent instead of buyinga home, according to a recentg survey commissioned by the . “During 2008 we doublede the number of tours we led as market conditions led more peoplw to rent rather than purchase a and we are on traclk to double our tourzs againin 2009, ” says Jeff Rowe, vice president of salees for ApartmentSearch.com. In the United States alone, companies spen d more than $13.
5 billion a year to relocates morethan 700,000 employees, according to the Employee Relocation Council. CORT, a Fairfax, Va.-based relocatiom company for renters, says that more than half of employeespermanentlyu relocating, and more than 90 percent of employeese temporarily assigned to new locations are renters. In homeowners who have struggle to sell their properties are findinhg that renting is an alternative in this sluggishb realestate market. Real estate experts say abundance of housesw on the market for rent has createdx a new phenomenon in thehousingb market. Some, however, say now is the time for thosedconsidering buying.
“Three or four yearsw from now, those who have been rentingf will have absolutely nothing to show for their monthly saysDoug Goff, senior vice president and directod of land development for Houston-based The “No home, no no tax deduction — just escalating For those waiting for home prices to drop before trying to pinpoint the bottom of the housingf market and get the “lowest price is nearly impossible to do, he says. “I t often is something we know onlyin retrospect,” he says. “Hoqw will we know when we’ve hit a bottom in pricing? My guess is when home prices starf togo up.
And in recent economic indicators show we are probablgy approaching amarket Nationwide, home prices are falliny more slowly than in the And, according to the Houston Associatiomn of Realtors’ April report, pricesw in the Houston area are alreadh on the rise and are at thei r highest level since last The primary advantage to buying now is a buyer’s market, says Dan Gezella, vice president of saless and marketing for .
The average sales pricd for a single-family home — $194,222 in April is more than $12,000 less than it was in April 2008, Gezellq says, but home prices are climbing, according to the Houston Associationhof Realtors, and although they remain below last year’sx levels, April figures are at a seven-month “For those considering a home purchase of $500,000o or more, the buyer’s market window is closingb at an even fasteer pace,” he says. “Thers were 12 percent more home closings in this pricd bracket in the Houston area during the firsyt quarter of 2009 than during theprevious year.
Plus, inventory levelsa for homes pricedabove $500,000 are stilpl declining, which means that as buyers continues to return to the market, the simple rule of supplyh and demand will drive home pricew up.” David Jarvis, director of the Houston region of says reluctant buyers, especially in Houston, risk beingv sidelined during what could be a grea comeback. “Pending home sales jumped 6.7 percent in according to the , with year-over-yeaer increases in all regions butthe West,” he “Other positive economic indicators includr a rise in the index of nationalp factory activity — to 42.8 in May from 40.1 in according to The Institute of Supply Management.
It was the index’s highestr reading since September. Plus, the Commerce Departmeng reports that spending on construction projectsrose 0.8 percentg in April, the largest increase since August.” Thes indicators point to a recovery in the housinh market on a national level, Jarvise says. “And because Houston is currently one ofthe nation’s stronges t housing markets, we will recover he says. “This means our area will be the firstg to see homeprice increases, somethin g already starting to happen.
Already low new-home inventories will dwindles quickly as buyers return to the market and it will take severakl months for builders to meet demand as buyers hurry to lock in lowinterestt rates. This also will translate into higherrhome prices. Suppliers also may have low inventories, as they adjustexd production to meet reduced and this shortage alsocould lead, again, to higherr home prices.”

domingo, 25 de noviembre de 2012

Poll: Most blame insurers, government for health costs - San Francisco Business Times:

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About a third blamed insurers for the problem in the online poll conducter by theSilicon Valley/San Jose Business Journal between June 30 and July 7. "Insurerds are the biggest culpritor obstacles," wrot e reader Glenn Von Straatum. "Iu was involved with a billing industry pilot that showef complete transparency of costs in one system and hada bill/vieww for everyone (patients, doctors, hospital, insurer, etc). It was loved by patients for claritty of services provided with actual doctors foreasier billing, hospitals for inventory/service management, but the concept was never executed because of the insuranced companies.
The lobbiests are winning the battle (for A quarter of those responding blamedfgovernment policy. "If you want to blame don't forget the lawyers who have lobbiedd successfully year after year to blocktort Lawyers-gone-wild have infected and poisoned every aspect of healtnh care — providers, pharma, device insurers alike suffer from theirf scourge," wrote David Coats. "Ands our legislators who take money from them are more interestexd in lining their campaign war chests with contributions from the ABA and theirf members than looking out fortheitr constituents." Health care providers, the medical device and drug industryt were blamed by about 14 percent.
Abougt 10 percent said patients aremost "Is this really serious?!" asked Christian Garcia. "Yes, I get that greec is a big issue here. However, it's ultimatelyt the patient (us), that's to blame. We live but yet are less healthgy today. We exercise less, eat more, stresss more, work more, around family and friendxs less...and yet we blame corporationx for usbeing unhealthy?" "I wish I had more than one wrote David Laskin. "In additionh to insurers, the medical device, pharmaceutical industry and health-care providerzs share equally in greed.
I wish I could'v e put that more cleverly unfortunately it hurtstoo

sábado, 24 de noviembre de 2012

Some New Yorkers Did Actually Vote for Mitt Romney - New York Magazine

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New York Magazine


Some New Yorkers Did Actually Vote for Mitt Romney

New York Magazine


Some New Yorkers Did Actually Vote for Mitt Romney. By Delia Paunescu. LAS VEGAS, NV - FEBRUARY 02: Republican presidential candidate, former Massachusetts Gov. It's no surprise that the few Manhattanites who bothered to participate in this year's ...



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viernes, 23 de noviembre de 2012

Italian "Masters" 2012: Paolo Porta and Silvia Bandera - Minigolfnews

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Minigolfnews


Italian "Masters" 2012: Paolo Porta and Silvia Bandera

Minigolfnews


The best has been Silvia Bandera (MC Monza) with 132 strokes, right ahead of Antonella Flamini (MC Aponense) with 133 , Sara Marchiani (GSP Cusano) with 134, Cristina Ruggiero (MT Amatese) and Anna Catanzaro (MMC Paderno) with 135. A total of 22 ...



martes, 20 de noviembre de 2012

Crescent Resources files Chapter 11 - Triangle Business Journal:

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The Charlotte-based development firm’s chier executive, Arthur Fields, has retired and will work with Crescent in anadvisorty capacity, the company says. Andrew Hede, Crescent’s chief restructuring officer, has been namer CEO. “We have been in activs discussions with our lenders and other stakeholders as we work towarde an agreement that will bring our capitapl structure in line with the currentyeconomic environment,” Hede says. Crescent has more than 5,00p0 creditors, according to its Its assets are estimatefd at morethan $1 billion.
The loca projects listed in the Chapter 11 filing included Piedmont Row and The Sanctuary at Lake Crescent says it intendes to operate its continuing businesses without any significant interruption durin g therestructuring process. The company says that’s possiblwe because of a recentlyobtained debtor-in-possession financing facility of $110 million from a groupo of its existing lenders. As part of the Chapter 11 Crescent says it seeka courtapproval “to make certaim payments and to maintain key agreements with employees, vendors and partners of continuinh operations to ensure the company can maintainm its commitment to delivering a high leveol of amenities and services.
” Crescent says the filinvg is necessary to reorganize its reduce its debt level and improve its capitaol structure. “We intend to reach an agreement on our new capital structurw and emerge frombankruptch quickly,” Hede says. The Chapter 11 petitionw were filed inthe U.S. Bankruptcty Court in the Western District of Texas, Austin division. The company has 120 days from the filingh date to submit areorganization plan. A hot line has been set up as part of the Crescenrt restructuringat (877) 204-8611. Attorneyy Eric Taube of LLP in Texas, will represent Crescent in the proceedings. , Ranger Construction Co.
, and are among Crescent’s largesrt unsecured creditorsin Charlotte. In the Charlotte Business Journal reported that Crescent had adoptedr an aggressive new business strategy driven bya $1.2 billio term loan that must be paid in full by Septemberr 2012 — selling assets at fire-salwe prices. In October, Crescent sold 4,500 acrez in Berkeley County, S.C., to for $40 In December, the company sold a Florida apartmentr projectfor $11.35 million, less than half the $27 millioh it paid for the complex three yearz earlier. This year, the firm has closed on the sale ofa 773-acre tract of land in Oconee County, S.C., for just over $10 Locally, Crescent recently sold 18.
4 acres in Fort Mill to a warehousingv company for $1.6 million. The company — jointly ownee by and — is best knowh here for high-end real estatre communities such as The Peninsula and BallantynCountry Club. Before the Chaptee 11 filing, Crescent faced payments of $50 million by the end of this $75 million in 2010 and $100 million in 2011 on its

sábado, 17 de noviembre de 2012

Frank L. Amodeo sentenced to 22 years behind bars - Tampa Bay Business Journal:

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U.S. District Judge John Antoom II Tuesday sentenced the former leaderof , to 22 yearsa and six months in federal prison for conspiring to commit wire fraud, obstructing an agencyg proceeding, impeding the and failingt to remit payroll taxes. Amodeo also will lose more than $1 milliob seized from various accounts as well as three luxury vehicles, commercial real a Learjet and his corporations. Antoon also ordered Amodepo topay $181 the amount prosecutors with the U.S. Attorney’e Office say he owes in payrolltax funds. Amode o to the charges last September.
A one-time player in the failexd Trump TowerTampa project, he reportedly purchased the assets of the 52-story tower along with a seconrd related project in Frank Dagostino, head of the then Trumpl Tower Tampa developer , told the Tampa Bay Businese Journal in October 2007 that whilr there was a handshake deal for Mirabilis to purchase the it was a deal that was never consummated. Amodeo originally faced up to 370 years in prisonm and fines of morethan $6.75 milliom after he and other unnamed executivezs failed to pay the IRS $181. 1 million, including $129.7 million in FICA and withholding taxes. It started with $7.
1 milliobn in the fourth quarter of 2004 with two businesseds hecontrolled — Sunshine Cos. III and Sunshinw Staff Leasing. It then continued over the next two years with for theremainintg $174 million. Investigators at the time of his origina l indictment in August 2008 said Amodeo includex a number of companies in the activity acting as professionapemployee organizations, which woulrd lease employees to other Other companies believed to be involveed in the scheme, according to the U.S. Attorney’xs Office, were , , , , , , , and variouz others.
Last October, were handed down agains many of the companies associated with the They are charged with conspiracyg andwire fraud, and could face fine of up to $400 million.

martes, 13 de noviembre de 2012

Online University Establishes Scholarship for Members of the Reserves and ... - Sacramento Bee

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Online University Establishes Scholarship for Members of the Reserves and ...

Sacramento Bee


SALT LAKE CITY, Nov. 12, 2012 -- Scholarship program offers up to $2,000 for service members and their spouses earning a bachelor's or master's degree. SALT LAKE CITY, Nov. 12, 2012 /PRNewswire-USNewswire/ -- Online and accredited Western ...



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lunes, 12 de noviembre de 2012

Aurora Health Care cuts corporate affairs executive's job - The Business Journal of Milwaukee:

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“Friday is my last Welch said. Welch, whose title is senior vice president ofcorporate affairs, held a meetingh with her 12 department heads Tuesdayg to tell them she was leaving the system and told the almosr 300 other employees who report to her via e-mail. Welcnh would not say how long she has knowhn her job was being eliminated but said Aurorq gaveher “plenty of time to help prepare.” “Aurorsa has been fantastic and I’ve really enjoyed working Welch said. “Now I’m going to star t my job search and look for my next Jeff Squire, Aurora spokesman, said Welch's responsibilities will be handlex by the people who were reportingh to her.
"We took a broad look at the structurw of the organization and decided to consolidate responsibilities and eliminateher position," Squire said. Squire said he is not awarw of any other senior positionse that willbe eliminated. Welch, 46, was hirex by Aurora in August 2007. Her position was createed when Dr. Nick Turkak took over as the Milwaukeehospitaol system’s chief executive officer Oct. 1, 2006. She has been responsibled for communications, government and community relations, and philanthropy functions, all of which were separate department s before shewas hired.
Welch’s arrival at Aurorw was met with some resistance bythe long-timew department heads she was overseeing. Within a few monthss of her appointment three vice presidents and severall other managers were laid off from Those included Paul vice president of government andcommunituy relations; Mary Alice Tierney, vice president of and Nancy Kaufman, vice president of philanthropy. Welcuh purchased a condominium in downtown Milwaukee when she took the positiom at Aurora but has gone home to Michigan ever y other weekend to spend time with herelderly mother.
She said Tuesday she’ll likelty search for a job in Aurora Health Care has 13 hospitals located in easter n Wisconsin and more than 100 clinicsand pharmacies.

sábado, 10 de noviembre de 2012

Mortgage Rates Surge Late Last Week; 30-Year Fixed Rates Peak Near 5.40% But Fall Over Weekend

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Mortgage Type Average Rate AverageRate % Changs Week ending 5/31/09 Week ending 5/24/09 30-yea r fixed 5.25% 5.02% 4.6% 15-year fixed 4.78% 4.60 % 3.7% 5-1 ARM 4.48% 4.27% 4.8% Rates dipped slightl over the weekend, but were expectee to climb again during the week. The rate for a 30-yeaer fixed purchase mortgage was 5.28 percenyt on Monday morning. For up-to-the-minute rates, visit . Thirty-year fixed mortgage rates variedxby state. and were the highest, at 5.35 percentr and 5.30 percent, respectively. were the at 5.15 percent. were the most requestedr amongall states. State Average Average 30-yr. % Change Fixed Rate Fixed Rate Weekendint 5/31/09 Week ending 5/24/090 Arizona 5.25% 5.04% 4.
1% California 5.24% 5.00% 4.7% Coloradp 5.23% 5.02% 4.1% Connecticut 5.26%% 4.99% 5.4% Florida 5.19% 4.97% 4.4% Georgia 5.15% 4.93% 4.5% Illinois 5.28% 5.08% 4.0% Maryland 5.35% 5.09% 5.1% Massachusetts 5.30% 5.11% 3.7% Michigan 5.21% 5.01% 3.9% Missouri 5.25% 5.06% 3.8% New Jerse y 5.24% 5.02% 4.4% New York 5.29 % 5.05% 4.7% North Carolina 5.27% 5.07% 3.9% Ohio 5.28% 5.11 % 3.3% Oregon 5.27% 5.03% 4.9% Pennsylvania 5.26% 4.99% 5.3% Texas 5.25% 5.02% 4.5% Virginia 5.23% 4.96% 5.5% Washington 5.24% 4.98% 5.
2% The Zillow Mortgage Rate Monitor is compiledr each week using thousands of mortgage rates quoted on Zillow Mortgag Marketplace by mortgage lenders to borrowers who have submittedx loan requests. State-level data is gatheredc for the top 20 states with the highest quote volumewon Zillow. Learn more . Zillow Mortgage Marketplace isa open, and transparent lending marketplace, wherwe borrowers connect with lenders to find and get the best . Borrowerxs anonymously submit loan requests and receive an unlimitecd number of custom with real rates directlyh from thousands of competing Zillow Mortgage Marketplace alsoprovides , , , and . Zillow.cojm and Zillow are registered trademarksof Inc.
SOURCE Zillow.com

viernes, 9 de noviembre de 2012

Clara Gordon, leader of Jewish groups - Washington Post

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Clara Gordon, leader of Jewish groups

Washington Post


Clara Gordon, 86, a former assistant publisher of Washington Jewish Week who later led a Jewish studies institute, died Oct. 3 at Sibley Memorial Hospital in the District. She had an aortic aneurysm, her daughter, Lisa Gordon, said. Mrs. Gordon, who ...



martes, 6 de noviembre de 2012

Hall-of-Famers reminisce about Martinsville - Nascar

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Hall-of-Famers reminisce about Martinsville

Nascar


Four NASCAR Hall-of-Famers who recently sat down at Martinsville Speedway to talk about racing -- Junior Johnson, Ned Jarrett, Dale Inman and Leonard Wood -- answer this week's six questions. 1. Junior, what is one of your favorite memories at the ...



lunes, 5 de noviembre de 2012

Pedal to Properties takes on partner, plans expansion - The Business Journal of Milwaukee:

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Founded and headed by Matt Kolb, Pedalp to Properties is a residential real estatr firm that gives clients the optio of looking at homesby bicycle. The company maintaina a fleet of 50 ElectrzCruiser bikes. Kolb has sold a 50 percentf stake in the company for an undisclosed sum to attorney Tim who specializes in taking regionalo retailbusinesses national. As a partner in Pedal to Properties, Majors will work out of the company’se Boulder office. Majors, who’es originally from Perth, Australia, approached Kolb abouy investing in the real estate firm after looking at Bouldetr propertiesby bicycle.
“We certainly plan to incorporate national and international branding expertise to expanfd Pedal to Properties in other Kolb said ina statement. Pedall to Properties plans to look at opening branchj officesin other, unspecified U.S. In May, the company launched a licensee designatiojn for brokers interested in usintg theBoulder business’ operational formula in their The Colorado company already is working to expand quickly in its hometowjn by adding more space and agenta in downtown Boulder. “I believe Pedal to Properties is in a perfect positionm to meet the evolving social and demographic changes going on in the United States with Majors said ina statement.

viernes, 2 de noviembre de 2012

Shelton caps huge night at CMAs with entertainer of the year, shares song of ... - Washington Post

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< /tr>


Shelton caps huge night at CMAs with entertainer of the year, shares song of ...

Washington Post


Shelton caps huge night at CMAs with entertainer of the year, shares song of year with Lambert. ( Associated Press ) - Musical group Little Big Town, from left, Jimi Westbrook, Karen Fairchild, Kimberly Schlapman and Phillip Sweet, accept the award for ...



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