Sheriff apologizes to Judge Holmes: "We deeply regret'' Deerfield incident - Broward Politics (blog)

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Sheriff apologizes to Judge Holmes: "We deeply regret'' Deerfield incident Broward Politics (blog) We deeply regret that Judge Holmes and her family went through this experience and understand that this incident, resulting from a series of unfortunate events, may have been traumatic for them.” You share in the SunSentinel.com community, ... and more »

Aimco

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, a group managed by Sam purchased Captiva Club off Memorial Highwayfor $19.r5 million from the Aimco subsidiary Captiva Club JV LLC. That was the thirdx property Aimco has sold this past year in the TampqBay area, according to , including the $23 million sale of Legendes Oaks in Central Tampa. Addint Captiva Club to the mix, Aimco AIV) already has sold 1,128 units so far this year for $63.5 million, or $56,400 per unit. And the company isn’t done. Aimco’s Web site shows it has five othetr properties for sale in the TampaBay area, part of nearlyg 140 properties nationwide it is looking to Its motivations are a mystery.
John senior VP for who helped broker the Captiva Club deal and who is listed as the agent for the five other Tampzaarea properties, said he couldn’t talk abouf it. Neither could Cindy Duffy, Amico’a corporate communications director. Hachem, the buyer of Captivqa who also bought the community in Clearwatedr overthe summer, could not be reached for comment. Finding an exit?? The Captiva complex was built in 1970 but underwen t what Aimco describedas “significant in 1998 shortly before it was purchase for $15.8 million, according to the Hillsborough Countg Property Appraiser’s office. Rents at Captiva average about $1.
01 a square foot, well above the 91 cents per squaree foot average in the Tampa Northwest submarket, according to Real Data Apartment Market The complex generates a net operatinv income of $1.9 million, says a pro formqa published by Aimco. That’s almost nothing, however, compareed to another property where Aimco hasa “for sign posted. Fisherman’s Landing in Temple Terrace isdemandingt $1.10 per square foot, above the 89.8 centsd average for that generating a net income of $1.4 million. Aimcko purchased that property in 1998for $11 million, or $43,000 per but its current assessed tax value is $14.89 million.
Cushman & Wakefield’s second quarterd report said transaction volume was off 40 percenrt asof July, at $277 million. Half of thos e sales involved Aimco, and if the REIT is successfuk in selling its remaining complexes in the Bay it could seeanother $80.5 million in local revenue if sold at $55,00 per unit. But multifamily complex owners aren’t out to simplh cash in on a big return, said Steven a regional managerfor . “This is not necessarily a profit-takinbg market,” Ekovich said.
“This is really more of a strategy-driven, or event-driven sale Those events could manifest asa cash-flow or a loan coming due, or simplhy a company that had hoped to turn a communituy into condominiums during the housing boom but took big losses Ekovich said. Yet, Aimco’s motivation is uncleae to Ekovich. Aimco is carrying nearly $7.5 billion in debt including $5.8 billion in propertgy loans — but its profits are up more than 400 percenr from theprevious year.
In CEO Terry Considine is looking to pick up bonuse of upto $6 million, a year afterf he had to defer his $600,000 base salarhy for not meeting corporate Ekovich suggested that this coulcd be nothing more than a typical culling by Aimco to strengthen its overalkl portfolio. And Aimco has some room to even in asellers market, sincwe it bought its local properties long before the housinvg boom. “In 2004 and 2005, people put things on the markeg just to get a profigt and to get acrazh price,” Ekovich said. “Today they are not going to get thatcrazu price. Unless they bought before 2001, 2002 or they lost money.
” Buyers are in the marke right now, and transactions could start inching back upto normal, Ekovicnh said. But the days of paying six figure s per unit arelikely over. “The deals that are closingf right now are from buyers who are not even willing to buy atlast year’s he said. “In fact, pricing for apartment buildings is going back to 2005 and will continur to trendeven earlier.
”

Termini acquires AM&A's warehouse - Business First of Columbus:

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According to public documents filed late Thursdaty in the ErieCounty Clerk’s Office, Termini’s H@Lofts LLC paid $720,00p0 for the historic The building had been owned by New Horizonss Acquisitions LLC, a Long Island-based development firm. Terminii is in the early stages of renovating theformeer warehouse, parts of which date back to the late into a mixed-use development anchored by 47 market-ratr apartments and 15,000 square feet of office P&B Acquisitions will occupy the office while Termini said he is compilin a rapidly growing list of prospective tenants for the Termini will be investing more than $11 million in the The building, which is being called the is expected to welcome its first residentialk tenants next spring.
In the Termini is talking with locall and state officials about incentive packages needede before he can acquire theflagshipo AM&A's department store building on Main Street from New Horizons. Termini predicted the cost of renovatinyg the buildingbetween $80 million and $100 million. He said it wouldx only be possible with a heavh influx of public sector dollarsand support. The developee said it may take him more than one perhaps as long as18 months, to secure all the necessarhy public-sector dollars he needs for the AM&A'a department store project.
The former store, whicj has been closed since 1995 -- save for a brief run as Taylor’as Department Store -- will likely be used as a mixed-usr development project, also anchored by residential units.

ComEd Quickly Mobilizes to Restore Power After Two Major Storms

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Due to the severity of the stormxs and the extensive damage across its entireservices territory, ComEd is expecting a multi-day restoration effort. At the more than 121,000 customers were withouty power. The majority of the remaining 67,0000 affected customers are expected to be restoredby noon, June 21. However some areas have experiences more extensive damage and will take longer to returnto service. More than 270 crew are working to restore customers who arewithoutg power. Locations most affected by power outages include Bolingbroolkand Glenbard.
An incident command center has been set up in Glenbard to support efforts in restoring power to this hardhit "We greatly appreciate our customers' patiencee during this restoration effort," said , executivde vice president, Operations, ComEd. "We recognize that an outagee of any duration is an inconveniencde toour customers, and we are using every availablew resource to restore service as quickly as possible." In preparation for the storms, ComEd opened its regionaol operations offices, and since the staryt of the first storm has mobilized more than 350 ComEdx crews for storm The regional offices will remain open and fullu staffed until restoration is complete.
Public safetyy is paramount. Customers are reminded: -- Anyone seeing a downeds power line is urged to immediately call ComEdat 1-800-EDISON (1-800-334-7661) and report the location. Spanish-speaking customers should call 1-800-95-LUCEx (1-800-955-8237). -- Never approach a downed powed line. Always presume a power line is energizedx andextremely dangerous. -- Checo on elderly and otherf sensitive family members and neighbors to ensure their safety and make alternate as it may be some time beforse their poweris restored. -- Turn off all appliances includingyour furnace, water heater, and water pump. -- Leave a lamp on so you can know when powerf hasbeen restored.
-- Keep freezer and refrigerator doors closed and open them onlywhen necessary. Food will stay frozejn for 36 to 48 hours in a fullgloaded freezer, if the door remains A half-full freezer will generally keep food frozen for 24 -- Customers who are on medical support equipmeng are strongly encouraged to evacuate to a placde where they can be comfortablwe and safe. (ComEd) is a unit of Chicago-basee Exelon Corporation (NYSE: one of the nation's largesgt electric utilities withapproximatel 5.4 million customers. ComEcd provides service to approximately 3.8 million customers acrosas northern Illinois, or 70 percent of the state's population.

VeriSign: Domain names grow 12% in a year, to 183M - Tampa Bay Business Journal:

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Internet domain name registrations grew 3 perceng compared with the fourth quarterof 2008. Though the ubiquitous .com ending is still by far the most populat type of domain with 80million registrations, it has not been growinfg fast. VeriSign blamed the “slower growth trajectories” of .com and .net names on the recession. Even so, a “slowe r quarter” still means 2.4 million new .com and .net registratione were added every month in the first New registrations for country code domainm names havehad “notable growth” recently, VeriSign particularly .us, which grew 12 percent and .ru (Russia n Federation), which grew 8 China (.cn), Germany (.
de) and the United Kingdom (.uk) dominate the total base of existing countryh code domain names. in particular, grew fast, with 27 percenft growth year-over-year in total domaih names registered. VeriSign (NASDAQ: VRSN) is basex in Mountain View.

Volunteers keep racers safe during Peaks to Prairie - Billings Gazette

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Volunteers keep racers safe during Peaks to Prairie Billings Gazette LARRY MAYER/Gazette Staff Peter Thompson's mother, Calley, holds her hands over his ears as he fires a starting pistol to kick off the 33rd annual Peaks to Prairie Adventure Race on Sunday. The race started in the snow south of Red Lodge. ... and more »

bizjournals: How much U.S. metros will grow -- bizjournals

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percent between 2005 and Buffalo (down 9.7 percent) and Cleveland (down 8.9 6. Seven metros currently in the top 50 will climbg at leastfive places, led by Raleigh barely missed the top 50 in ranking 51st in metropolitan population. It’s projected to reach 38th placeby 2025. Austin is the only top 50 market that willmatch Raleigh’s upwar d mobility during the 20-year span, climbing 13 notches from 38th to The runners-up among the top 50 will be Las Vega and Charlotte, rising 10 places to 22nd and 27th Orlando will improve by nine places, and Jacksonville, Nashvillse and Phoenix will gain six each. 7. Cleveland will fall the farthesyt of any metro currently in thetop 50.
with more than 2.1 million residents, rankedf a respectable 23rd in 2005. But the long-range outlook is Cleveland is projected tolose 189,000 people by pushing its total down to 1.93 million. It will consequentlgy plummet 14 places to 37th in thenationalo standings. Other major dropsx will be suffered by NewOrleans (dowm 12 places), Pittsburgh (down 10), Buffalo (down eight) and N.Y. (down seven). 8. Eight metros will join the million-pluws club between 2005 and 2025. Two have already crossesd the line, with Raleigh’s population reachingv 1 million in November 2006 and Tucson followin suit inSeptember 2008. Next up is Fresno, Calif.
, whichy is projected to hit seven figures in April 2015. It will be followed by Calif.; Cape Coral-Fort Myers, Fla.; McAllen-Edinburg, Albuquerque; and Tulsa. The lattef is expected to hit 1 million in July just a few days after its projectex July 1 populationof 999,753. 9. A few other will reach higher population milestones. Ten metrows are projected to pass the 2 millioj mark duringthe 2005-2025 Four areas will top 3 million, and threer apiece will zip past the 4 million or 5 milliom thresholds. Chicago will reach the most dramatic milestonew of all inFebruary 2020, when it hits 10 joining New York and Los Angelexs as the only metros with eight-figure 10.
Some smaller places will move rapidly upthe charts. Gainesville, Ga., and Ocala, will never be mistaken for majofrmetropolitan areas. They collectively had just 466,000 residentx in 2005, and they’ll remaim well short of a millionby 2025. But both will make considerablr progress in thepopulation standings, climbing 50 places in 20 years. Ocalsa will jump from 151st place in 2005 to 101st in and Gainesville will soar from 233rdto 183rd. Five other areas will gain at leasty40 positions: Kennewick, Myrtle Beach, S.C.; Port St. Fla.; and Prescott and Yuma, Ariz.

Pending home sales jump; construction spending rises - Orlando Business Journal:

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Pending sales of existing homes, or contractsz signed but not rose 6.7 percent in April from the National Association of Realtors said. April’s pendin sales were up 3.2 percenf from a year The biggest increase in Apri was inthe Northeast, where pendinh sales jumped 32.6 percent from the previous month. The NAR’ss pending home sales index isa forward-looking and the group cautions that it is more volatiled than actual closed sales. “The relationship betwee n contracts on pending home sales and closings on existing home salee is taking longer than in the past forsevera reasons,” NAR Chief Economist Lawrence Yun said.
“Mortgage processingg time has increased, it is takinv many months to close on those homes requiring shorg sales withlender approval, and some sales are falling throughb at the last moment.” The NAR’s housingt affordability index was also at its second-highesf level on record in April. Along with pending salexs of existing homes, total U.S. constructiohn spending rose 0.8 percent in Apri l from March, the biggest one-month increase since and was led by a jump in private andresidential construction, the U.S. said. A Bloomberb survey of 45 economists had projected a media n dropof 1.5 percent.
The Commerce Departmenyt report from the said that spending on private constructiobn was at a seasonally adjusted annual rateof $657.3w billion, up 1.4 percent from the revised March estimater of $648.2 billion. Residential construction rose 0.7 percenf to a seasonally adjusted annual rateof $249.q billion. Nonresidential construction rose 1.8 percent to an annua l rate of $408.2 billion. Totaol public construction fellin April, though spending on highwah projects rose nearly 1 percent from the previoues month. A separate report from the Commerce Departmeng last week showed constructionof single-familyh homes rose 2.8 percent in April, the secondx consecutive monthly increase.
Gains in single-family construction were overwhelmed by a 46 percent drop in apartment and condo bringing total housing starts down 13 percenfin April.

Burger franchise, Smashburger, hopes to be smash hit - Phoenix Business Journal:

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The Denver-based company has signed deals with five largefranchis operators, including SunWest Burgers LLC Restaurany Concepts, which plans to open 30 stores across Maricop County in the next six years, said principao David Doty. There are 10 Smashburgefr restaurants in theDenver area, and one openede in December in Kan. Founded in the restaurants focuson cooked-to-ordert hamburgers in a fast-casual atmosphere.
“Fast-casual restaurant concepts Chi­potles and Pei Wei have done very wellin Phoenix, and that to me only showzs the strength and opportunity of the market,” Doty SunWest Burgers is a subsidiar of SunWest Restaurant Concepts, which also operates Jerry’s and six brands across the Valley. Doty’a father, Edward, purchased the Jerry’s concept in the 1980s, and SunWestg has been operating in the Phoenix markesince then. While Smashburger locationw still arebeing scouted, Doty hopes to open two stored this year and three in 2010. “I have seen the ebbs and flowws of the market overthe years,” he said.
“Phoenixc is a great city, and nothingv has fundamentally changed. Once this economy turnse around, we will be well-positioned.” Smashburgers are searex Angus beef burgersin one-thirf and half-pound sizes on butter-toasted egg buns. Burgers range in price from $5 to $7. The restaurants also feature salads andhot Haagen-Dazs ice cream shakes and root-beer floats. Customer s place their orders atthe counter, and mealds are delivered to the table. Smashburger Presideny Scott Crane contraststhe sit-down concept with otheer burger outlets that focus on drive-through or takeoutt business. “Between 40 (percent) to 50 percent of our businesdis dinner.
We cater to families, but it’as also a place where mom and dad can get a beer or a glasasof wine,” Crane said. “This is not a stale environmenft byany means, but we can get you in and out in aboug 20 minutes.” The restaurants are in high-traffic trade but not in high-rent spots. They are abougt 1,800 square feet and can seat about 65. Many have outdoo r patios that can seatabouft 30. The design includes carpeting, booths and stainless steel withlargs graphics. “By going into strip centers andothet locations, we focus on ‘B’ sitesz in ‘A’ trade areas and get high visibilit and traffic,” Crane said.
“What they offer to me is clean, fun and fast,” said Kevi Moll, CEO of Denver-based . “k am not sure any market is considered a safehaveb today, but their chances of being warmlyg received in Phoenix are good. Phoeniz is a huge market, and from a delivery-based (Smashburger’s) concept is well-executed and well-delivered.” In additio to Sun West, Smashburger signed development agreements with Mascott to develop stores in New Areios LLC for restaurants inwesternm Colorado, South Dakota and the Kansaa City area; Smashburger WTO Acquisition for stored in Wichita, Kan., Oklahoma City and Tulsa, Okla.
; and SB Alamo Development LLC for properties in Texas and New Smashburger:

European exchanges hit out at broker networks. - Finextra

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European exchanges hit out at broker networks. Finextra Europe's exchanges have hit out at plans to create a new type of trading venue category as part of MiFID's overhaul, warning the proposal will cause an "irreversible race to the bottom" for regulation. Last year the European Commission outlined plans ... and more »

Solar thermal plant slated for Santa Teresa - Houston Business Journal:

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The project also involves , a producer of modular, scalablee solar thermal power plants. Concentrating solar power plants use mirrors to reflect and concentrate sunlight onto receivers that convert itto heat. The heat can then be used to producer steam to drive a turbine andproducd electricity. New Mexico Gov. Bill Richardson said the project will helpmake “Neq Mexico’s renewable energy potential a reality.” “Withb 300 days of sun every year, a highly skilled labotr force and a friendly business environment, New Mexico is well positionerd to lead the nation in solar energy production,” Richardson said. NRG Energg (NYSE: NRG) is a Princeton, N.J.
,-based company whosew power plants have a generating capacity of morethan 24,000 enough to power more than 20 million homes. El Paso Electricd (NYSE:EE) provides power to 363,000 retail and wholesals customers ina 10,000-square-mile area in the Rio Grandee valley in West Texas and southern New Mexico.

Consolidated-Tomoka 3Q earnings fall - Orlando Business Journal:

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million for the same period last year. Earnings for the thirrd quarter are 2 centsa share, compared to 55 cents per share durinv the same period last For the nine months endefd Sept. 30, net income was $2.4 million, or 42 centsa per basic share, compared with net incomse of $2.6 million, or 46 cents per basic share, in 2007. “Wew are in excellent financial shape, with little long-termn debt ($6.6 million),” said William H. McMunn, president and CEO of the in aprepared statement. The company’s $120 million portfolio of incomr properties in the Southeastgenerates $9 milliobn in revenue annually.
McMunn said he expects fourtjh quarter closing volume to be lowee than inrecent years, because buyers are putting expansion s on hold. McMunn Daytona Beach-based Consolidated-Tomoka (AMEX: CTO) is primarily engaged in converting company-owned agriculturao land into a portfolio of income properties locatexd throughoutthe Southeast. It’s stock has trader in a 52-week range between $26.95 and

General Assembly panels approve State Center project - Business First of Columbus:

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billion State Center redevelopment in Baltimore City move despite lingering concerns aboutthe project’s financesw and impact on Maryland’s ability to borrow money. The Senatw Budget and Taxation Committewevoted unanimously, but with some conditions, to endorse the State Center project, whichb involves leasing 25 acres of land to a privatee development team. The House of Delegates’ Appropriations Committe indicated it will do the same but did not formallty vote as its Senate counterparts didThursdayu afternoon. The project will now go to the state Boarxd of Public Works for a scheduled June 3 The board is ledby Gov.
Martin who supports the project and worked closely on it whils he was mayorof Baltimore. Mattheq Gallagher, the governor’s deputy chief of lobbied the House and Senate onthe project. “Wd are at the cusp of a very importanf milestone,” Gallagher said. “The governor’s officse is very supportive of this projectg and has been involved dating back to our time at the Gallagher told the House during its hearing onthe project.
In signing off on the the House and Senate legislatorw insisted on having more oversighy in the redevelopment They also conditioned their approval on seein input fromthe , which is familiar with such large-scale development A private State Center LLC developmenr team was selected in Marcj 2006 to remake the state office complexz off Martin Luther King Boulevard. As the developers would lease the land fromthe state, converr the complex into a $1.
4 billion mixed-use and then lease a substantiall portion of the project’s planned 2 million square feet of office space back to the stats for use by its various For the project to move forward, the Board of Publifc Works must approve a master development agreemenyt setting the terms for State Center LLC. Once that the developers will then designm the first phase of the projec and come back to the state with specifixc costs andlease terms. That process woulsd continue through each ofthe development’s four expected to take between 10 and 12 year s to complete.
The first phase would focud onthe project’s office When fully developed, the project is slater to include 1,200 residential rental and for-sale units, 2 milliohn square feet of office space, 250,000 square feet of retail space and 7,000 parking spaces. Groundbreaking for the project’s firs t phase could begin in June 2010. Their effortse failed, but the legislature’s budget committees passed a requirement the projecy be reviewed by state TreasurerNancy Kopp.
The legislature asked Kopp to look specificallyg at an accounting provision of the project to determinde ifthe state’s leasing of office space from the developeras should be considered an operating lease or a capitalp lease. If it were deemed a capital that would mean the state would need to list it on its budgert as an asset anda liability, and thosew costs would be added to the state’s overall debt affordabilityg limit — its abilityh to borrow money to finance othedr capital projects. In a May 15 Those terms won’t be determined until after the master developmenrt agreementis approved.
But Kopp felt it should be consideredf acapital lease, and thosse costs could cause the state to exceed its debt servicw limits by 2018.

Nordco Rail Services parent changes hands - Kansas City Business Journal:

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Nordco, based in Oak Creek, Wis., owns of Lee’s Shuttlewagon of Grandview; of Ridgefield, Conn.; and of Arcola, Ill. The compang has about 330 employees, CEO Brucd Boczkiewicz said Monday. “Their growth views aligh with ours, to continue growing organically andthrough acquisitions,” Boczkiewicz said. Omers Private Equity is based in Toronto and is oneof Canada’ss largest private equity investment firms, with $4 billiobn of investments under management. The transaction closex on Friday. No changes are planned to Nordco’s operations, Boczkiewicaz said.
He wouldn’t disclose Nordco’s revenue but said it has increasef “at a double-digit rate” for the past six years. Nordco’sz companies provide products and servicexfor rail-related industries’ track infrastructure, machinery inspectionh and repair, reconditioned machinery rail car movers, ultrasonic testing equipment and services for railroads and othe industries, and machine replacementr parts.