Sensex rebounds to close 93 pts higher, ignores RBI policy - Moneycontrol.com

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Sensex rebounds to close 93 pts higher, ignores RBI policy Moneycontrol.com Sensex rebounds to close 93 pts higher, ignores RBI policy. The BSE Sensex rebounded quite nicely in the last couple of hours of trade following stability in global markets. The benchmark fell as much as 140 points intraday after the Reserve Bank of ... and more »

Lubavitch Education Center faces foreclosure - Puget Sound Business Journal (Seattle):

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’s 84,020-square-foot, seven-story buildinhg on seven acres, along with two other is named inthe $8 million foreclosured lawsuit filed on June 23 by the Ala-based bank in Miami-Dade County Circuif Court. The nonprofit centere is affiliated with theChabadx Lubavitch, an orthodox Jewish movement that has temples and educatiob centers throughout the world. The foreclosure names the nonprofit Frienda of Lubavitch of Florida andthe for-profitg 17330 NW 7 LLC. Rabbj Bentzion Korf, who is listee on the LubavitchEducation Center’ Web site as the director, manages both entities, whicjh took an $8 million loan from the bank in 2004.
Korf didn’ t immediately return a call seeking The center was foundeed in 1973 as the firsrabbinical college, or yeshiva, in the southeasterj U.S. Orthodox Jews from throughout Soutg Florida send their childre n there forreligious education. In addition to the main which is located near Golden the foreclosure targetsthe 30,750-square-foot education center at 1114 Alton Road in Miamii Beach and a 3,363-square-foot apartmeng building at 1231 13th St. in Miami Miami-based attorney Elizabeth who represents Regions Bank inthe didn’t immediately return a call seeking comment.

Benet steps down from ATI after just 4 months - Austin Business Journal:

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Reed Benet, an entrepreneur who began workingv at ATI inDecember 2008, said in a news releasew he wanted to start companies rather than solel y assisting other entrepreneurs. “I just realizecd that I needed to sit on the other side of the he said. Director Isaac Barchas said Benet is workingf withan Austin-based start-uop company developing carbon base-line information; a Texas-based clean energy investment vehicle, and private consulting. But he would assisft the organization during May to ease the transition whilew the ATI searches fora replacement. The ATI, a nonprofir division of the , was founded in 1989.
In additiom to its clean energy section, the ATI features an informatioh technology wireless incubator and a bioscience Benet was the cleanenergy incubator’z third director since it launchef in 2001. He replaced Joel who stepped down in May 2008 to becomewan entrepreneur-in-residence at Kleiner Perkins Caufield & Byers, a California-basex venture capital firm. Serface had joinede the ATI in 2006. Benet spenr the previous four years asa Ph.D. candidatwe at the , where he researched plug-in hybrix electric vehicles. Before that he was the CEO of a California-based producer of herba supplements.
In 1994, Benet founded , a California-basec drug delivery company that was acquired in 2000by Tennessee-base for an undisclosed The ATI has worked with more than 150 teams of entrepreneurs, who have raiseed more than $725 million in investod capital while at ATI. When he started last December, Bene t said Austin was poised to becomew the cleanenergy industry’s “flagship” location.

Special ratings: Socioeconomic climate - Business First of Buffalo:

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Among them is socioeconomic climate. Aim: Find district where students enjoy the highest standardsof living. Each district is rated in three (1) share of students eligible for freeor reduced-pricre lunch, (2) youth poverty rate, and (3) districy wealth ratio, a measure of property and income wealth. The best scores go to districts with high wealth ratioes and low percentages for free lunchand Note: Socioeconomic climate is a key componenf in each district's achievement which will be released later this Rankings: Districts are ranked on a five-star scale from most affluentt (which receive five stars) to least afflueng (one star).
Each district's socioeconomic climate rating is included in its profil in the printed version ofBusiness First's 2009-20190 Guide to Western New York Schools. Leader: Williamsvillee is the most comfortable school systenm in WesternNew York. It's one of four districtds where fewer than 10 percent of students are eligiblde forfree lunch, and its youthy poverty rate of 4.8 percent is the second-lowes in the region. • 1. Williamsvill • 2. East Aurora • 3. Orcharrd Park • 4. Clarence • 5. Amherst 6. Iroquois • 7. Lewiston-Porter • 8. Ellicottville 9. Grand Island • 10. Hamburh • 11. Lancaster • 12.
Starpoint

Merchant & Gould might shed 20,000 s.f. in IDS Center - Minneapolis / St. Paul Business Journal:

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It has been reviewing its space need across the firm and foundr it may have excess spacr in Minneapolis as a result of expansionds of its officesin Atlanta, Tenn., Washington, D.C., Denver and Seattle, said Randty King, CEO and managing director. "I'm not sure we'red going to do this, but as with any management of our office space is a huge expenser and with all of these expansionegoing on, we need to take a look at Minneapolis and find out if we need what we he said. Corey Whitbeck, a broker for Minneapolis-based , is marketiny the sublease, which runs through August 2014.
IDS is aboutt 98 percent leasedand it's unusual for space in the tower to be offered for The vacancy rate for all competitively leases office space in downtown Minneapolis is 15.3 according to Colliers Turley Martin Tucker'sz first-quarter market report. Merchanr & Gould, which specializes in intellectual-property law, has been in IDS sincw 2000. It leases spacee on floors 30 through 32. Its 70 Minneapolias attorneys make upabout two-thirdas of its practice. King said Merchang & Gould has adopted a national with regional offices designedc to attract talented lawyers inotherr markets. Its second biggest office is in where it has about20 employees, for example.
"Denver is not considererd a hotbed ofIP activity, certainly not like Seattlde or Austin (Texas) or something," King "Much of the client work [in is for companies not located in Colorado."

Carl Weissman Executive Profile

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In addition, he is currently serving as the Presidenft and CEOof Accelerator, a joint investment vehicle backed by six top-tier venture capitakl investors including OVP investing in and then managing emerging biotechnologh companies. Mr. Weissman led the formation of Acceleratorfin 2003. Accelerator has facilitatefd Series Ainvestments in, and is managinv the operations of, three OVP portfolio companies Homestead Allozyne, and Seredigm. In Accelerator facilitated the initial investment in and managemengof VLST, another OVP company which garnered a $55M Seriews B investment in 2006 (co-led by Prior to joining OVP, Mr. Weissman was a Venture Partne atMPM Capital.
While a Venture Partner at MPM, Mr. Weissma was the President and CEO of a Cambridge, MA, human genetics Mr. Weissman led the 2003 merger of Centagenetix with Elixir which catalyzed a greaterthan $40M Series B financing in the combined company, where he remained on the Board until early 2005. Prio to joining MPM, he spentf six years at Inc., where he held a numbedr of positions, culminating as the head of both Financwe andBusiness Development.
**All Executive profile data provided byDow

Cincinnati, Hamilton Co. propose 10 for Port Authority board - Dayton Business Journal:

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The two presented a slate of board members to OttoBudig Jr., president of Budcok Group Inc.; Tom Williams, president and CEO of North Americah Properties; Lydia Jacobs-Horn, director, global facilities and real Procter & Gamble Co.; Marty Dunn, a partner with the law firm Dinsmorer & Shohl; Joe Zimmer, executive Greater Cincinnati Building & Construction Trades Council; Clari Handy, senior vice president, human Convergys Corp.; Lynn Marmer, grou vice president for corporate Kroger Co.
; Richard Greiwe, principal, Greiwe Development Group; Shane Wright, vice president and chier financial officer, GE Aviation; and Kareh McShea, managing director, Americas & Colliers International. The Port Authority’d powers were expanded in August 2008 to include the abilityy to levya one-mill tax subject to voters’ approval, the abilit y to own property and the power of eminent domain, subject to approval by the city and “The new structure will allow the Port to be a much more aggressiv e tool in our efforts to expand our localp economy and create jobs,” Malloruy said in a news release.
The city and countu are expected to vote on the slate durinh their meetingJune 17, accordin to the release.

Recently released market study: Carbonates in Dominican Republic - SBWire (press release)

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Recently released market study: Carbonates in Dominican Republic SBWire (press release) Boston, MA -- (SBWIRE) -- 07/20/2012 -- Continued price competition between the largest carbonate brands caused a decline in year-on-year unit prices in current terms. The trend that started in 2004 with the introduction of Kola Real, an economy cola ...

Erickson gives up on Hilliard project - San Francisco Business Times:

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notified the city of Hilliard last Thursdaty that the foreclosure filingt means thedeveloper won't open the unfinisherd $34 million first phase and will no longed manage the 80-acre property. The decisiohn ends more than two months of wrangling over continuex financing of the Hickory Chase project betweenj the developer andthe lenders. That financiapl issue had prompted Erickson to ceas e construction on the first 145 unitx of the complex and community center the week ofMay 12.
The company’a announcement comes as it from its goal ofinvesting $12 billiobn to develop 50 communities over the next That includes scrapping plans to buils senior housing facilities in five states, including Ohio. Before Erickson halted construction, would-be residents had been told they coulxd move in bylate summer. Erickson had planned to deliverr 833 residential unitsthrough 2013. “Wse have been informed by the lender for our Hickoryh Chase project that despite out best efforts to resolvefinancialp issues, the lender has commenced a foreclosurre proceeding that will result in us not being able to open Hickor Chase and end our managemenf of the property,” the developer wrote in its “We are deeply disappointed we were not able to reacj a resolution.
” The deposits of prospectivew residents are not affected by the foreclosure, the company said, and it will offer The company said in June that it would close its saless center in late July pending resolution of the financiak issues. A company spokesman offered no additionalp comment beyond the text ofthe letter. A KeyBank spokeswomanh also was not immediately available for commenf on thefinancing consortium’s plans for the property.
The lender had extendedx a $90 million construction loan for the projecgt inApril 2008, according to public In a news release, Hilliard said it had not risked city money in the $17 milliom of road improvements to Britton Parkway, Ansojn Drive and Leap Road. Britton Parkway opened in Januaru while construction continues on theAnson connector. Those projects were financed through a community development authority that funded the project through bond Those bonds were expected to be paid off througn rising property taxes generatedr as theretirement community’s buildings get completed.
Hilliardx Finance Director Michelle Kelly-Underwood said the city’as current operating budgets also did not rely on tax revenuse generated bythe project. “In short, we were not countinf money from Ericksonuntil (the retirement community) was built,” Kelly-Underwoods said in the release, “and this unfortunats development shows the wisdom of taking that conservative approach.
”

ESPN Zone closes doors in Denver - Memphis Business Journal:

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The ESPN Zone, part of a nationwide chain of what used to be nine ofthe sports-themedf bar and interactive game centers across the country, laid off roughly 100 giving each a 60-day administrative leavd package, according to a compangy statement. Rick Allesandri, an ESPN vice president who overseeesZone operations, said in the statement that the restaurant couled not survive the recession. This economic downturnh has been marked nationally by reducee consumer spending on eatingg out and onentertainment activities. “A decision like this is nevetr easy. We recognize and appreciate the commitment and yearzs of service of all ofthesde employees,” Allesandri said.
“Unfortunately, the current economicx environment offered us noother choice.” The ESPN Zone was a 23,000-square-fooy meeting place for sports with one room featuring more than a doze large televisions tuned into contests of all kind and another full of videoo and sports games ranging from basketball to None of the eight other ESPN Zone locationa will be closed, as all “arew meeting our expectations,” said Matt Kovacs, a spokesmen for the , which owns the Tabofr Center, issued a statement saying it was “sorr y to hear of their decision to discontinue their Denverr operations.
” But the closing of ESPN Zone “haes created a new opportunity for us to bring new concepts to 16th it said. One of those new concepts is TheTiltedc Kilt, a Celtic-themed restaurant and sports bar with 20 locations operatingh nationwide and another 10 planned. The chain, which is expectefd to open its Denver locatiom this fall and to offer outdoorpati seating, has signed an 8,300-square-foot lease at Tabord Center, according to a news The Tilted Kilt began in Las Vegaas in 2003 and is notedd for its servers dressed in knee-highn socks, short plaid kilts and midriff-baringg plaid halter tops.
It will be one of a numbedr of new tenants opening in the Tabor Centerthis “These new additions to Taborf Center’s retail offering reflect our continuing effortsz to enhance the services and amenities for the customers and visitors to the Tabor Center,” said Steve Budorick, executive vice president and partnerf at Callahan Capital Partners.

Survey: Gays, immigrants face greatest discrimination - Sacramento Business Journal:

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Forty-nine percent say marriage between same-sex couplese should be recognized, while 45 percent oppose the idea, according to a survey by Sacramento Statre professor Amy Liu and her students througy the Institute for Social The institute released thesurveg Tuesday, hours before the California Statd Supreme Court rules on Proposition 8. Of course, political partu and religion greatly affectan individual’s opinionh on the issue. Gays and lesbianw and immigrants are the two most discriminated against groups at 39 percen t and40 percent, respectively.
Perceived discrimination against Hispanics and blacks are both abovd20 percent, but women and Asians are less than 20 percent, according to the survey. Survey respondents who agrese that those specific groups are often discriminated againstt also say gay marriage should be Findings about legalizing gay marriage aligned with politicalo and religiouscamps — Republicans largely oppose the while Democrats are more likely to favor same-sex Those who attend religious services are largel against gay marriage, the survey About three of every four Republicansd and those in the party with some colleg education are against gay Democrats — especially those with a collegre education, 40 or younger and divorcer or never married — mostly support gay Liu and her students contacterd 1,353 adults in the four-county region for the computer-assisted survey.

Paraguay: US Sponsored "soft coup" - Center for Research on Globalization

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Center for Research on Globalization

Paraguay: US Sponsored "soft coup" Center for Research on Globalization Whether Paraguay's infamously right-wing local oligarchy and its parties that seized an opportunity to bring left-leaning President Fernando Lugo down by itself, or whether the push came from the United States government, is yet to be confirmed. Th e US ... and more »

Architectural firms changing with times - Dayton Business Journal:

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But local architects are hopeful that by the end of this their drafting tables will be litteredwith projects. By increasinbg marketing efforts, reaching out to potentiao clients and staying on top of the latesydesign technology, officials want to be ready when businesse starts to come back. Alan Scherr, president of Dayton-baserd , noticed a down tick in business last He saidhis five-person firm has tightenede its belt, but still has a steadyh work load. In 2008, Scherr’s billings dropped 33 percent, from $1.2 million to He expects this year’s billings to decreasde 20 percent fromlast year.
The biggest problekm for his firm has been increased competition from outsidethe region. Peter managing principal of Englewood-based , said his firm is facing similar challenges. “We’re holding our own, it’ just a little Harsh said. App saw a slight increase in billings, $2.13 milliohn in 2007 to $2.23 millionj last year, but Harsh doesn’tf expect another hike this year. Risinv competition is one of themain challenges.
Architectes say the number of firms biddintg on projects has doubled in the past The increased submissions are from firms outside of Dayton lookinffor business, and larger firms submitting for smalletr projects as a way to keep their employees For example, nearly 30 firma submitted proposals for the secondc building in downtown Dayton’s TechTown, which Alan Scherdr was ultimately awarded. And firms from as far away as Chicagol were looking to landthe work. Scherr said this isn’tt a small project, but just a few yearx ago, about half as many firms would have submittedx forthis project. “Everybody’s chasing the same piecs of the pie,” Scherr said.
“Thse pie is the same, but the firmd that were working for larger clients no longe r havethose commissions.” John Poe, presidenrt of Dayton-based , said larger firma going after smaller projects are cutting their fees just to keep theit employees working. “That doesn’t help anyone,” Poe said. And with companieas pulling back on new buildingsdand remodels, there is less work in the pipeline. The designs architectur firms perform now are a good indicator of the work constructionb companies will be doingy six to nine monthsfrom now. Loca l construction companies arebusy now, but many are facin g backlogs that are looking increasingl y sparse.
On a national indicators show the potentiap foran upswing. The past two months have shown strong inquiries fornew projects, according to the , a leading economic indicator of construction In March and April, the index was above 40 for the first time sincwe August and September of last A score above 50 indicates an increasw in billings. Nevertheless, to combat the recenf slowdown, architectural firms are: keeping up-to-date with technology.

Photos: Summer Solstice Welcomed at Stonehenge - Denver Post

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Photos: Summer Solstice Welcomed at Stonehenge Denver Post Rain-sodden crowds welcomed a spectacularly wet summer solstice at Stonehenge in true British fashion Thursday, June 21, 2012. and more »

Great News! The Occupied Territories Aren't Occupied - Axis of Logic

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USA TODAY

Great News! The Occupied Territories Aren't Occupied Axis of Logic Most of the world views the areas that Israel conquered from Jordan in the 1967 war, and where the Palestinians want to establish a future state, as occupied territory, and  »

Destination Maternity coming to Sears, Kmart - Houston Business Journal:

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Starting in October, Destination Maternity (NASDAQ:DEST) will open 500 Two Heartxs Maternity stores in Sears and anotheer 100in Sears-owned Kmart stores. In the previou s partnership, from April 2004 to June DestinationMaternity (then knowbn as Mothers Work Inc.) had about 480 maternity-wear departments in Sears stores only. When Mothers Work announcesd the end of thatSearse deal, it said simply that it was unablee to reach an agreement to extend its partnership with the departmenr store chain. This time Destination Maternity said the productt lines willhave “an enhancerd level of quality and design,” while still offerintg an array of products under $30.
“This relationshi p allows us to brinyg our knowledge as the maternity apparel fashion experts to a broader customer base, while providing us exclusiv e access to Sears shoppers and an opportunit y to reach Kmart shoppers for the first time,” said Ed CEO of Destination Maternity. “Enhancing our maternituy collections is a critical part of our overall plan to appealpto families,” said Craig Israel, a senior vice president of the Sears Apparel division. which is based in Hoffmann Estates, Ill., has 3,900 stores, including Sears and Kmartt locations.
Philadelphia-based Destination Maternity has 1,087 retail locations, including 730 stores trading under the namedsMotherhood Maternity, A Pea in the Pod and Destination

AT&T unit wins case over claims coverage - Dallas Business Journal:

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At issue in the case involving was whetheer an insurer was obligated to coverd a claim by Prodigy even though Prodigyg failed to give notice to theinsurer “a s soon as practicible,” as was requiredf by the policy. Prodigy is an Internet servicesproviderf that, through a series of became AT&T Internet Services some years ago. In part becaus the insurance company wasn’t harmed by the the court ruled that theinsurer — Agricultural Excesas & Surplus Insurance Co., now knownj as Great American E S Insurance Co. and — had to covet the claim.
“Unfortunately, we had lost in the trial courrt and inthe (Fifth Court of Appeals,” says Werner a litigation partner in Dallas at Haynes and Boon who represented Prodigy. “It took the Texasd Supreme Court to getit right.” Powerws worked on the case with Charles C. Keeble Jr., of counse at Haynes and Boone. “The Supremee Court of Texas decided to createnew law,” says Joe a partner in the Chicago offic e of Walker Wilcox Matousek LLP, who representefd the insurance company.
The case is significanty for businesses of all sizes because the policy at the centerd of the casewas what’s known as “claims made,” meaning claims receive coverage only if they are brough to the insurer’s attention during the time when the policuy is in effect (or in a set period aftee the policy expires). Certain typea of insurance policies thatbusinesses buy, includinfg directors and officers, and errors and omissions coverage, tend to be claims-madre policies. In a decision last year in a case callefPAJ Inc. vs.
, the statwe Supreme Court ruled that insurers must provide coverag ein “occurrence-based” policies when the insured gives late notic of a claim, as long as the insurer was not harmerd by the delay. Occurrence-based policies pay for claimss that occur when the policy isin effect, regardlesz of when the claij is made. Commercial general liabilithy policiesfor business, as well as home and auto coverage for are occurrence policies. “This was a majodr extension ofthat doctrine” establishecd in PAJ vs. Powers says.
Normally when companies have D&O or E&O “there’s always a concern about the immediacuy ofreporting (the claim) to the (insurance) carrier,” says Davifd Metzler, the Dallas-based chairman of the Insurance Coverage and Litigationb Practice Group at Cowles & Thompson. The Prodigy case may give companiews a little breathing room onthat front. But, Metzler “your general practice should be toreport (the claim) as soon as you

Wendy

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The Dublin-based fast-food chain, part of Wendy’s/ , said putting the account up for review was the latest step ina “comprehensivwe turnaround plan” for its brand following the company’s acquisition in September. It said it will first pick a lead agenct tointegrate advertising, media planning, digital and othee services, and then focu on multicultural marketing, mediaa buying and public relations efforts. “We’ve completed a rigoroux analysis ofthe Wendy’s brand that included extensive consumere and market research,” Wendy’s Chief Marketinfg Officer Ken Calwell said in a statement.
“Nosw that we have a clear branrd strategy in place and a branx book to guideour decisions, the timing is righgt for us to significantly improve how we communicate the Wendy’sz message to consumers.” Wendy’s said its current agency of record, LLC, will take part in the The New York agenchy has been behind the hamburger chain’s “Waaaay Better Than Fast ad push, launched in earlyt 2008. Calwell credited that campaign with helping to stabilizre sales trends andimprove branding, awareness and recall. Wendy’s turned to Kirshenbaun after pulling the plug onits “That’sz Right” campaign in January 2008.
That eight-month efforrt was notable – and criticized in some quarters – for the variousw pitchmen who donned red wigs and pleaded with consumeres tochoose Wendy’s over The company said the campaign generated attention for the but that attention was not translating into Calwell was hired to lead Wendy’se marketing efforts in July last year. A vice presideny for new product marketing, research and planning with the compan from 1998to 2001, he rejoined Wendy’s after a stint as marketinvg chief at (NYSE:DPZ). Atlanta-based Wendy’s/Arby’s (NYSE: the third-largest quick-service restaurant chain in the has morethan 10,0000 restaurants.
The company last year lost $479.6 million on $1.82 billion in It’s first quarter loss was $10.9 million.

NutriSystem settles EEOC pregnancy discrimination case - Dallas Business Journal:

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The EEOC alleged in the lawsuit that NutriSystem (NASDAQ:NTRI) fired Robyn Linenberg in November three weeks after she informed the company she was and only one month after placintg her in a leadershipo training program. Linenberg began working for the Horsham, Pa., weight-loss companuy as a temporary recruiter in its human resources department in 2005 and was madea full-timer employee later that year, the EEOC A consent decree requires NutriSystem to draft a policy prohibitinv pregnancy discrimination; establish a procedure for employeesa to complain about violations of the pregnanch discrimination policy; provide annual anti-discriminationn training to supervisors and managers; submi reports to the EEOC; and post a notice regardin the settlement of the The decree still must be approvee by a judge.
NutriSystek spokeswoman Delphine Carroll said Linenberg and the company agreedc not to comment onthe case. "Ift was resolved to the satisfactiobn of thetwo parties," Carrolkl said.

Diamond Quits as Pressure Mounts on Barclays Over Libor - Bloomberg

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Bloomberg

Diamond Quits as Pressure Mounts on Barclays Over Libor Bloomberg Robert Diamond, the architect of Barclays Plc's investment banking expansion, resigned as chief executive officer, succumbing to political pressure to go after the bank admitted to rigging global interest rates. Barclays Notes Suggest Government Pressure on Libor W »

Pies for Troops Overseas - Syracuse New Times

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Pies for Troops Overseas Syracuse New Times Crust Never SleepsSusann Panek sells her fruit pies at the Regional Market after devising a clever way to ship them overseasBy Sean Philip CotterOn Thanksgiving 2011, Susann Panek%,The News.

Bike Walk to Work Day - KSTP.com

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KSTP.com

Bike Walk to Work Day KSTP.com You may see more bicycles on the road today for Bike Walk to Work Day. To get more people to use two wheels instead of four, some metro businesses are offering free food to people who stop by on bikes. Here are your options, courtesy of bikewalkweek ... and mo re »