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New York Times |
US Grants Special »
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tatyanagepoji.blogspot.com
, a lender with $456 millionj in assets, has escalatint distress in residentialconstruction loans. At the end of March, the bank reportex that 18 percent ofthoses $46.2 million in loans were delinquengt or not producing at contractual interest rates. And in another sign of trouble, the bank has foreclosedc on $10.2 million worthh of construction-related real estate, according to filings with the Federalo DepositInsurance Corp. Meanwhile, the bank’w $20.9 million commercial and industrialportfolio — working capital loans to businesses — showse nearly $5 million in nonperforming FDIC data shows.
The bank has built a reservs ofnearly $4 million for potential loan losses, but the amount of distressed nonaccrual loans in its portfolio is nearl five times that amount, FDIC data shows.
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New York Times |
Physicists Find Elusive Particle Seen as Key to Universe
New York Times ASPEN, Colo. — Signaling a likely end to one of the longest, most expensive searches in the history of science, physicists said Wednesday that they had discovered a new subatomic particle that looks for » |
hihozeima.blogspot.com
“We knew we couldn’g accomplish what we wanted to onour own,” said Yolandaa Garcia, a partner in the litigation sectiobn and co-chairwoman of the Going Green The firm shared its plan s with other building tenants at The Crescent during an Octobed 2008 Green Expo, which prompted other companies to instituted similar programs. “We realized that there is only so much one firm can do onour own, so we needee help from the Crescent to reacj our goals,” Garcia said. Weil Gotshapl workers began printing on both sides of paperdwhen possible, with a goal to reduce paper usaged by 15%, Garcia said. That goal was quickly with a 19% decrease in paper used.
“It shows that making small changes can have adramati impact,” Garcia said. The office also nixedx Styrofoam cups, estimating that about 30,000 were used each year, substitutinh glassware and, when needed, biodegradable cups. For the firm has pledged to use watef filtration systems so that it no longer goesthrougg 3,000 cases of bottle d water each year. It’s difficult to determinre yet whether the efforts cost the firm additional moneyg orproduced savings, Garcia At any rate, the company is committer to the initiatives to be a good corporate citizehn and wants to continuing adding new initiatives and sharinhg the results with others to produces best practices.
— Lisa Tanner
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Globe and Mail |
Barclays' CEO Bob Diamond quits over rate-fixing scandal
Los Angeles Times LONDON — Bob Diamond chief executive of Barclays resigned effective immediately Tuesday over an inter-bank rate-fixing scandal under investigation by US and UK financial authorities. The announcement comes just a day after Barclays' chairman Marcus … Barclays CEO Diamond quits over rate rigging Reuters FSA's Turner: Must Purge Banks Of "Culture Of Cynical Entitlement" W » |
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USA TODAY |
Mexico's former ruling party claims victory
USA TODAY MEXICO CITY – Mexican electoral officials projected victory for presidential candidate Enrique Peña Nieto, whose once long-ruling Institutional Revolutionary Party (PRI) would retake power after 12 years in opposition. A quick count released by the … Peña Nieto: A former governor on the path to Mexico's presidency CNN Mexico's former ruling party voted back to office The Associated Press Nieto Appears Victorious in Mexican Presidental Elections Voice of America Fox News -National Post -ABC News » |
erofeyporgrinin.blogspot.com
The brothers — Ken, Stephen and Michael Blockk — have formed , they said in a released Tuesday. The new firm will providw commercial brokerage, asset and property management, and investment, developmentg and financial services in Kansas City and throughoutfthe Midwest. David Block, a principal and cousin of the leadsBlock & Co.’s retai l real estate unit. He couldn’tt immediately be reached to commenty about how the move might affect the name or operatiohn of his unit ofthe business. “Fof more than six years, Block & Co. has been comprise d of two business units,” Ken Blockj said in the release.
“Thew business unit run by myself and my brothera has been providing a numbe of real estate services that were not provided by theother unit. My brothers and I began operationzin St. Louis last and as we focus on opportunitiee in other cities throughout the we felt it was time to more clearlyg identify ourselves with ourown company, our own values and our own This transition will allow us to further extende our reach and our servicese regionally and nationally.
” The move followz a physical separation of the two business unitzs in March 2006, when Ken Block and his brothers move about 80 employees and theie growing operations across the street to the Plazq Steppes Building on the . Davifd Block’s unit remained in the Skelly Building, 605 W. 47th St. Allejn Block, the father of Ken, Stephen and Michael Block, launched the famil real estate business when he acquired the Werbty Realty andInvestment Co. in 1940. After serving in the from 1942to 1946, Allen Block re-establishedr his real estate business in 1946 and was joined by his brothet and David Block’s father, James who became a partner in 1950.
Untilp his death early this year, Allen Block remainedd chairman ofBlock & Co., which ranksw No. 1 on the Kansas City BusinesszJournal ’s list of area commercial real estate companies. Ken Bloco said that Block Real Estate Services will remaijn in the Plaza Steppes Building and will continuse to be active in Kansas City businesx andphilanthropic causes. The new firm has a portfoliko of more than 17 million square feet and employsx more than100 people. “Oudr current business unit in Block Co. Inc.
Realtors will continue in Block Real EstatseServices LLC, and all of the brokers and staff members who have been associated with Michael and me remain with us,” Ken Block said in the Creation of the new company will eliminate confusion in the marketplace that had been causecd by the existence of two Blockj & Co. units with different offices, staffs, phonw numbers and business approaches, Ken Block added in the release. Scotf Freeman, a principal with , a nationalk real estate investor with a35 $4 billion commercial real estate said in the release that the division of the two Blockm units should help the new companty expand.
“I often encouraged them to expand theidr operation and was pleased when they openeda St. Louisa office a little over a year Freeman said inthe release. “They are at the top of our service providers throughoutthe country, and we thinj the establishment of Bloco Real Estate Services will now distinguish this experr team both locally and regionally and provide them the opportunitgy to further expand theif service platform.
”
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New York Daily News |
The Court jester! Supreme Court Chief Justice John Roberts cracks wise day …
New York Daily News A day after drawing the ire of Republicans with his tiebreaking vote to uphold Obamacare, Supreme Court Chief Justice John Roberts quipped he would be spending the summer in an “impregnable fortress.” Roberts' humor underscores how he has been scorned … New law could shift employee health benefits to private market Los Angeles Times American Way: How the Obamacare Supreme Court ruling is a win-win-win Telegraph.co.uk US Supreme Court decision BBC News WJBC News -W » |
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msnbc.com |
Breaking down the health care ruling
msnbc.com NBC's Mark Murray joins The Cycle to explain the reactions of Democrats and Republicans to the Supreme Court's decision. This content comes from Closed Captioning that was broadcast along with this program. >>> perhaps the most troubling of » |
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says the average 30-year fixed-rate mortgage rose to 4.91 percent this up from 4.82 percent last A year ago, 30-year fixed-rate mortgages were averagingh 6.08 percent. While long-term rates rose, adjustablee rates fell. One year ARMs now average 4.69 percent, down from last week'ss 4.82 percent. "Fixed-rate mortgages followedx long-term bond yields higher this week as the financialp markets try to discern the state ofthe economy," said Freddie Mac FRE) chief economist Frank "Housing continues to be a drag on the economy." The Commerced Department Thursday reported new home sales rose for the second time in threr months, up 0.3 percent.
Median prices for new homes fell 15 percent from year ago it said. Existing home sales rose 2.9 percenrt in April, but inventoriea of homes for sale alsorose sharply, accordinyg to the . Sales of distressed homes, including thosw in foreclosure, made up 45 percent of sales in
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