CBS News | Mitt fought the good fight SILive.com Over the years, one of the more troubling characteristics of the Democratic Party and the left in general has been a shortage of loyalty and an abundance of self-loathing. It would be a shame if we Republicans took a narrow presidential loss as a ... Obama hosts election rival Romney for lunch Obama hosts Romney in Washington Obama and Romney to do post-election lunch |
Friday, November 30, 2012
Mitt fought the good fight - SILive.com
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Thursday, November 29, 2012
Madoff gets 150 years in prison - Boston Business Journal:
showarticle-cultura.blogspot.com
“I’m not surprised. That’sz what he deserved,” said Adelwe Fox of Tamarac, who lost thousands of dollarsto Madoff'sx scheme. The mastermind behind the biggest Ponzi schemein U.S. historu was sentenced on Monday morning in federal courg in Manhattan to 150 years behind the maximum requested byfederal Madoff's attorney had asked for a far more lenientf sentence of 12 years. In sentencing Madoff, U.S. District Judge Denny Chin called thefraud “staggering” and said that the “breacjh of trust was massive.” The judge described his acts as “extraordinaril y evil.
” “No other white-collar case is comparabls in terms of the scope, duration and enormity of the fraucd and the degree of the betrayal,” Chin Madoff confessed in March to 11 count s including fraud, money laundering theft and perjury, amongg other things. His victims reportedly number morethan 1,30p0 and stretch across the Their losses are estimated at more than $13 Prior to sentencing, Chin heard from nine of the victimse who talked about the devastatioh Madoff’s fraud had caused to their lives and theif families. Many of Madoff’s wealthyy clients lived in South Florida and lost theird life savings tohis scheme.
Fox, 86, said she is stillo furious that the and the federalgovernment didn’t exposd Madoff’s fraud earlier. “The SEC is just as guilty as Madoff and theyfailedr us. Nobody seems to do anything abouy it,” Fox said. She also took issuer with the large fees beinf paid to people such asIrving H. the trustee who is handling the liquidation ofBernard L. Madoff Investment Securities. “The truste Picard is making hisown rules. They’res paying these guys millionsof dollars. It would be better to pay the investorsa directly,” Fox said.
Fox, a widow who once worked as secretary in New said sheinvested $50,000 in 1987 because she was related to Madoff’ s accountant, Jerry Horowitz. She said she was able to get some moneyh back from Social Securitypayments she’de made over the years on “phantom” income from Madoft accounts. However, she is worried that her disbursement may eventually be targeted in clawbacj efforts by the trustee in bankruptcy proceedingx who has begun sending out letters demanding the returm of profits derived from their Guy Fronstin a Boca Ratonb attorney who hasadvised Fox, said the government has “been good about refunding taxes quickly” but therse are delays in processing claims to the Securitiesa Investor Protection Corporation.
“Some of the people I know are too busy with theswe other issues to really care that much abougt whathappened today. They believerd he would spend the rest of his daysin jail,” Fronsti n said. Jan Atlas, an attorney with Adorno said he believes the court had little choice but to levy the maximumn sentenceon Madoff. “I don’t think the victims shoulc have been victimized again by having him be able to leaver prisonone day,” said Atlas, whoss firm continues to advise clients abou t tax returns and possibly future claims against investment advisorsd who invested with Madoff.
“I’m wondering if the trustese will be able to locate more than the billion plusthat he’sz located, and what is the real loss,” Atlas In addition to his prison Madoff was ordered to forfeirt nearly $170 billion, which represents the proceeds of, and propertgy involved in certain of his crimes, accordinvg to a news release from the U.S. Departmenty of Justice. “While today’s sentence is an importantr milestone, the investigation is continuing,” Lev L. acting U.S. Attorney for the Southern District of New said in anews release. “We are focused on tracing, restrainingf and liquidating assets to maximizr recoveries forthe victims.
”
“I’m not surprised. That’sz what he deserved,” said Adelwe Fox of Tamarac, who lost thousands of dollarsto Madoff'sx scheme. The mastermind behind the biggest Ponzi schemein U.S. historu was sentenced on Monday morning in federal courg in Manhattan to 150 years behind the maximum requested byfederal Madoff's attorney had asked for a far more lenientf sentence of 12 years. In sentencing Madoff, U.S. District Judge Denny Chin called thefraud “staggering” and said that the “breacjh of trust was massive.” The judge described his acts as “extraordinaril y evil.
” “No other white-collar case is comparabls in terms of the scope, duration and enormity of the fraucd and the degree of the betrayal,” Chin Madoff confessed in March to 11 count s including fraud, money laundering theft and perjury, amongg other things. His victims reportedly number morethan 1,30p0 and stretch across the Their losses are estimated at more than $13 Prior to sentencing, Chin heard from nine of the victimse who talked about the devastatioh Madoff’s fraud had caused to their lives and theif families. Many of Madoff’s wealthyy clients lived in South Florida and lost theird life savings tohis scheme.
Fox, 86, said she is stillo furious that the and the federalgovernment didn’t exposd Madoff’s fraud earlier. “The SEC is just as guilty as Madoff and theyfailedr us. Nobody seems to do anything abouy it,” Fox said. She also took issuer with the large fees beinf paid to people such asIrving H. the trustee who is handling the liquidation ofBernard L. Madoff Investment Securities. “The truste Picard is making hisown rules. They’res paying these guys millionsof dollars. It would be better to pay the investorsa directly,” Fox said.
Fox, a widow who once worked as secretary in New said sheinvested $50,000 in 1987 because she was related to Madoff’ s accountant, Jerry Horowitz. She said she was able to get some moneyh back from Social Securitypayments she’de made over the years on “phantom” income from Madoft accounts. However, she is worried that her disbursement may eventually be targeted in clawbacj efforts by the trustee in bankruptcy proceedingx who has begun sending out letters demanding the returm of profits derived from their Guy Fronstin a Boca Ratonb attorney who hasadvised Fox, said the government has “been good about refunding taxes quickly” but therse are delays in processing claims to the Securitiesa Investor Protection Corporation.
“Some of the people I know are too busy with theswe other issues to really care that much abougt whathappened today. They believerd he would spend the rest of his daysin jail,” Fronsti n said. Jan Atlas, an attorney with Adorno said he believes the court had little choice but to levy the maximumn sentenceon Madoff. “I don’t think the victims shoulc have been victimized again by having him be able to leaver prisonone day,” said Atlas, whoss firm continues to advise clients abou t tax returns and possibly future claims against investment advisorsd who invested with Madoff.
“I’m wondering if the trustese will be able to locate more than the billion plusthat he’sz located, and what is the real loss,” Atlas In addition to his prison Madoff was ordered to forfeirt nearly $170 billion, which represents the proceeds of, and propertgy involved in certain of his crimes, accordinvg to a news release from the U.S. Departmenty of Justice. “While today’s sentence is an importantr milestone, the investigation is continuing,” Lev L. acting U.S. Attorney for the Southern District of New said in anews release. “We are focused on tracing, restrainingf and liquidating assets to maximizr recoveries forthe victims.
”
Tuesday, November 27, 2012
USDA grants funds for rural energy projects - St. Louis Business Journal:
ogarawo.wordpress.com
“The demand for energyy is rising every year and our fundinfg program will help agriculture producerss and ruralsmall businesses,” said Eric New Mexico Rural Development’s wate and environmental programs acting statw director. Vigil said renewable energies, such as wind, solar, biomasss and geothermal will qualify underthe program’s directives. “The progranm is [also] geared toward energy efficiency and we expecgt to find interest from applicantsd who want to initiate a variety ofdifferent projects,” Vigil added. Some energy efficient initiatives that wouldf qualify include installing wind turbines andsola panels.
Establishing anaerobic digesters and creatingmore energy-efficient agricultura l production by upgrading insulation, boilers and lighting also will qualify under the termw of the program. Especiallty important this year, according to officials, is a new section that financesa feasibilitystudies — which can include money for meteorological towers. These “met help locate the strongest wind area so that wind turbinews can be most advantageously The applications require a completed energy assessmen orenergy audit. Unlike previous years, the cost of the audif or assessment will be paid for by the should the applicantbe successful. This loan limits have increased.
The deadline for applicationas isJuly 31. More information about the program can be founcd onits , or by e-mailing Jessee Monfort Bopp, the rural energy coordinator, at
“The demand for energyy is rising every year and our fundinfg program will help agriculture producerss and ruralsmall businesses,” said Eric New Mexico Rural Development’s wate and environmental programs acting statw director. Vigil said renewable energies, such as wind, solar, biomasss and geothermal will qualify underthe program’s directives. “The progranm is [also] geared toward energy efficiency and we expecgt to find interest from applicantsd who want to initiate a variety ofdifferent projects,” Vigil added. Some energy efficient initiatives that wouldf qualify include installing wind turbines andsola panels.
Establishing anaerobic digesters and creatingmore energy-efficient agricultura l production by upgrading insulation, boilers and lighting also will qualify under the termw of the program. Especiallty important this year, according to officials, is a new section that financesa feasibilitystudies — which can include money for meteorological towers. These “met help locate the strongest wind area so that wind turbinews can be most advantageously The applications require a completed energy assessmen orenergy audit. Unlike previous years, the cost of the audif or assessment will be paid for by the should the applicantbe successful. This loan limits have increased.
The deadline for applicationas isJuly 31. More information about the program can be founcd onits , or by e-mailing Jessee Monfort Bopp, the rural energy coordinator, at
Saturday, November 24, 2012
Clear Channel produces tribute to Michael Jackson - Business Courier of Cincinnati:
xiwyxucupewox.blogspot.com
The San Antonio-based broadcaster has also agreedr to launch a new digital station dedicated to playingthe singer’s music on the iheartradio.com Web portal. The Michael Jacksobn Memorial channel is currently The July 7th memorial service is being recorded and the channepl will run encore presentationa of the service throughoutthe week. The iheartradio application is availablwe for download on Applr iPhone andBlackberry phones. Since news brokee of Jackson’s untimely death, Clear Channel Radip stations have played his songs morethan 23,000 according to the Clear Channel-affiliatedx music-industry service Mediabase.
By comparison, on the day precedingg his death, Jackson’s songs only received 168 Clear Channel stations across the country produced loca mixes of his music as wellas one-houtr specials devoted to his life. Clearf Channel Radio Digital, a division of Clear Channel Radio, also set up a library of musicv videos, photo galleries, latesft news and artist tributes. News broke on Jackson’s death on June 26. Clearf Channel Radio is a divisionof , a globalo media and entertainment company. The company is owne by (OTCBB: CCMO).
The San Antonio-based broadcaster has also agreedr to launch a new digital station dedicated to playingthe singer’s music on the iheartradio.com Web portal. The Michael Jacksobn Memorial channel is currently The July 7th memorial service is being recorded and the channepl will run encore presentationa of the service throughoutthe week. The iheartradio application is availablwe for download on Applr iPhone andBlackberry phones. Since news brokee of Jackson’s untimely death, Clear Channel Radip stations have played his songs morethan 23,000 according to the Clear Channel-affiliatedx music-industry service Mediabase.
By comparison, on the day precedingg his death, Jackson’s songs only received 168 Clear Channel stations across the country produced loca mixes of his music as wellas one-houtr specials devoted to his life. Clearf Channel Radio Digital, a division of Clear Channel Radio, also set up a library of musicv videos, photo galleries, latesft news and artist tributes. News broke on Jackson’s death on June 26. Clearf Channel Radio is a divisionof , a globalo media and entertainment company. The company is owne by (OTCBB: CCMO).
Friday, November 23, 2012
Streamlined News: Recapping Golden Goggles - SwimmingWorldMagazine.com
viktorsejbgif.blogspot.com
Streamlined News: Recapping Golden Goggles SwimmingWorldMagazine.com PHOENIX, Arizona, November 20. MICHAEL Phelps and Missy Franklin won the top honors last night at the USA Swimming Golden Goggle Awards in New York City, where the Olympic swim team gathered to recollect their amazing performances in London. |
Thursday, November 22, 2012
Heavy rain brings increased risk of slides - KING5.com
sucujovide.wordpress.com
Heavy rain brings increased risk of slides KING5.com SEATTLE - A new statewide slide hazard map still in beta testing shows some coastal counties are now at extreme risk from rain driven landslides. The state Department of Natural Resources, Division of Geology and Earth Resources manages the map, ... |
Tuesday, November 20, 2012
Chaquico and Magic Slim fill up a bucket of blues - StarPhoenix
proklofuxaanygez.blogspot.com
Chaquico and Magic Slim fill up a bucket of blues StarPhoenix Magic Slim goes straight to the old gutbucket of classic blues images, singing in the loping opener about being that titular Bad Boy. From there we hear about betrayal (Someone Else Is Steppin' In), having money (the bopping blues of I Got Money), not ... |
Monday, November 19, 2012
Debate: Best teams in the NBA - ESPN
ogarawo.wordpress.com
ESPN | Debate: Best teams in the NBA ESPN Justin Verrier, ESPN.com: Heat. The defense has looked shoddier than you'd like, but it's tough to judge the reigning champs too harshly given an early-season string of dings and bad health, and the fact that postseason matchups, and thus regular ... |
Friday, November 16, 2012
FAA, NTSB investigate hole in Southwest jet - Baltimore Business Journal:
tatyanagepoji.blogspot.com
Lynn Lunsford, a spokesmanh for the Federal Aviation Administration, said the NTSB is taking the lead in the but both agencies are looking into the The plane was flyin from Nashville to Baltimore and made an emergencyu landingin Charleston, W. Va., around 5:10 p.m. on Monday evening when a piecwe ofthe plane’s fuselage tore away from the aircraft, leaving a hole the size of a the FAA confirmed. Lunsford said the football-sizr hole was located near an overhead baggage bin towarsd the back of the planre overthe aisle.
The hole was visible from the and the natural proceses of decompressionat 34,000 feet caused the plane'sz oxygen masks to fall down as pilotws made an emergency landing. After the incident, Southwest Airlines said it was inspecting its other The airline has181 737-300 jets in its The Boeing 737 was made in 1994, making it 15 years old, according to the FAA. Lunsford said “it’s hard to say what mighy have caused it” at this point. The NTSB and the FAA will investigatewall possibilities, he said, including metal fatigue or the possibilityg of external damage to the aircraft.
Lunsfordf said the hole was rectangular in shape and locatedd right where the tail section beginsto rise. Planes, he are generally built in a manner wherde every few inches there is a rib or an enforcement to preserv ethe aircraft’s strength. He added that when metal it typically stops at the next strong point inthe aircraft'sz design. Earlier this year, the Dallaz Business Journal reported that Southwest Airlines agreed to paya $7.5 million civil penalty to the FAA. The FAA said Southwestf (NYSE: LUV) agreed to pay $7.
5 million to settle the but added that the amount could doubl if the airline failed to meet safety improvementz outlined by the two parties in an agreemenyt signedthis year. This agreemen was the result ofa $10.2 milliohn civil penalty the FAA proposed for Southwest in March of 2008 afted investigating the airline for operating 59,791 flights on 46 planes without checking the fuselagre for what is known as fatigue cracking — or threatsw to the skin of the Lunsford with the FAA said investigators will check any airworthiness directives that applied to the aircraftg involved in Monday's incident.
"They'lpl look at which airworthinessw directives effectedthis aircraft, were they done, did they applh to what occurred here," he said. Lunsford said if not, investigatorzs will try to determine what additional steps may need tobe
Lynn Lunsford, a spokesmanh for the Federal Aviation Administration, said the NTSB is taking the lead in the but both agencies are looking into the The plane was flyin from Nashville to Baltimore and made an emergencyu landingin Charleston, W. Va., around 5:10 p.m. on Monday evening when a piecwe ofthe plane’s fuselage tore away from the aircraft, leaving a hole the size of a the FAA confirmed. Lunsford said the football-sizr hole was located near an overhead baggage bin towarsd the back of the planre overthe aisle.
The hole was visible from the and the natural proceses of decompressionat 34,000 feet caused the plane'sz oxygen masks to fall down as pilotws made an emergency landing. After the incident, Southwest Airlines said it was inspecting its other The airline has181 737-300 jets in its The Boeing 737 was made in 1994, making it 15 years old, according to the FAA. Lunsford said “it’s hard to say what mighy have caused it” at this point. The NTSB and the FAA will investigatewall possibilities, he said, including metal fatigue or the possibilityg of external damage to the aircraft.
Lunsfordf said the hole was rectangular in shape and locatedd right where the tail section beginsto rise. Planes, he are generally built in a manner wherde every few inches there is a rib or an enforcement to preserv ethe aircraft’s strength. He added that when metal it typically stops at the next strong point inthe aircraft'sz design. Earlier this year, the Dallaz Business Journal reported that Southwest Airlines agreed to paya $7.5 million civil penalty to the FAA. The FAA said Southwestf (NYSE: LUV) agreed to pay $7.
5 million to settle the but added that the amount could doubl if the airline failed to meet safety improvementz outlined by the two parties in an agreemenyt signedthis year. This agreemen was the result ofa $10.2 milliohn civil penalty the FAA proposed for Southwest in March of 2008 afted investigating the airline for operating 59,791 flights on 46 planes without checking the fuselagre for what is known as fatigue cracking — or threatsw to the skin of the Lunsford with the FAA said investigators will check any airworthiness directives that applied to the aircraftg involved in Monday's incident.
"They'lpl look at which airworthinessw directives effectedthis aircraft, were they done, did they applh to what occurred here," he said. Lunsford said if not, investigatorzs will try to determine what additional steps may need tobe
Thursday, November 15, 2012
Tasmanian Devils to Get Fresh Start on New Island - Jakarta Globe
ovaluleq.wordpress.com
Jakarta Globe | Tasmanian Devils to Get Fresh Start on New Island Jakarta Globe Two 14-month-old Tasmanian Devils exploring their enclosure at Devil Ark in the Barrington Tops area of Australia's New South Wales state on April 27. A group of Tasmanian devils will be transferred to a sm » |
Tuesday, November 13, 2012
Reluctant Democrats should step up on filibuster reform - Washington Post (blog)
qalymeled.wordpress.com
Reluctant Democrats should step up on filibuster reform Washington Post (blog) Yes, I'm blogging a lot about filibusters â€" because it's really the biggest open question in determining how the federal government will operate for the next two years, and because the decision will probably come soon. Don't believe me? See Steve ... |
Monday, November 12, 2012
PICC IPO to value insurer around $20.8 billion - MarketWatch
ejyceh.wordpress.com
PICC IPO to value insurer around $20.8 billion MarketWatch In a sign of the difficulties in the way of a successful listing in these volatile markets, the company has chosen 17 banks to manage its IPO --a record for an offering globally--but PICC has yet to formally assign banking roles, apart from naming the ... |
Sunday, November 11, 2012
FBI probe of Petraeus triggered by e-mail threats from biographer, officials say - Washington Post
ogarawo.wordpress.com
USA TODAY | FBI probe of Petraeus triggered by e-mail threats from biographer, officials say Washington Post When Petraeus's name surfaced, FBI investigators were concerned that the CIA director's personal e-mail account had been hacked and that national security had been threatened. The officials said further investigation, including FBI interviews with ... < br />Petraeus investigation triggered by e-mail threats Report: Petraeus case triggered by e-mail threats Official: Harassing emails led to FBI probe |
Friday, November 9, 2012
Three Websites You Need to Check Out at Home - allvoices
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Three Websites You Need to Check Out at Home allvoices ... provides simple and effective ads suitable for publishers and advertisers of any size. Their website is a sleek, modernly designed page that allows you to easily access the company's contact info, list of services, portfolio and Facebook and ... |
Wednesday, November 7, 2012
30-doctor GCAP group wants to leave Alliance - Sacramento Business Journal:
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GCAP, a primary care group with abou30 doctors, joined the hospital systek only 20 months ago. Now it’s claiming a litan of contract violationsthat “have seriouslty affected the ability of the physiciand to provide excellent health care for their many patients.” In a June 3 lettee to Health Alliance CEO Ken Hanover, the doctorxs list 15 complaints, including: • Lack of 12 months’ noticde on changes in contractual arrangements, including paymentf of benefits; • failure to pay vendors, leadingg to the “embarrassing shutdown of serviceds necessary to operate our business.
” The doctord on Wednesday filed a complaint in Hamilton Countg Common Pleas Court. They ask to be release d from service to the Health Alliancre and for damages andattorney fees. When it joined the Healthu Alliancein 2007, GCAP was the only independent practice of its type in the It became a wholly owned subsidiar y of the hospital system, which includes Jewish and Fort Hamilton hospitals, and the . The practice had hope to benefit from a complete electronif health records system that could interacg withthe Alliance’s hospitals, as well as the abilit y to expand geographically and recruit doctorsa more effectively.
Health Alliance spokesman Tony Condia, in a writtenb statement, said the healtyh system was "surprised and by the letter and complaint. He said the Alliancre had initially tried to negotiat withthe physicians, then offered independentg arbitration, which the practicw refused. The Alliance was preparing for preliminary discussionas to sever the relationship when the lawsuitwas "This litigation violates the terms of the service agreement, which requires us to resolve disputesa such as this with a neutral We would therefore encourage the GCAP physicianas to uphold their contractual obligations and not pursue costlty litigation," according to the statement.
withdres from the Health Alliance following a long court battles that began inMarch 2006. It started operatingy independently in 2008 but only signed a final settlementf agreement inJanuary 2009. The two St. Luke hospitals similarlyt withdrew, reaching a settlement with the Health Alliancde inSeptember 2008. St. Luke has merged with .
GCAP, a primary care group with abou30 doctors, joined the hospital systek only 20 months ago. Now it’s claiming a litan of contract violationsthat “have seriouslty affected the ability of the physiciand to provide excellent health care for their many patients.” In a June 3 lettee to Health Alliance CEO Ken Hanover, the doctorxs list 15 complaints, including: • Lack of 12 months’ noticde on changes in contractual arrangements, including paymentf of benefits; • failure to pay vendors, leadingg to the “embarrassing shutdown of serviceds necessary to operate our business.
” The doctord on Wednesday filed a complaint in Hamilton Countg Common Pleas Court. They ask to be release d from service to the Health Alliancre and for damages andattorney fees. When it joined the Healthu Alliancein 2007, GCAP was the only independent practice of its type in the It became a wholly owned subsidiar y of the hospital system, which includes Jewish and Fort Hamilton hospitals, and the . The practice had hope to benefit from a complete electronif health records system that could interacg withthe Alliance’s hospitals, as well as the abilit y to expand geographically and recruit doctorsa more effectively.
Health Alliance spokesman Tony Condia, in a writtenb statement, said the healtyh system was "surprised and by the letter and complaint. He said the Alliancre had initially tried to negotiat withthe physicians, then offered independentg arbitration, which the practicw refused. The Alliance was preparing for preliminary discussionas to sever the relationship when the lawsuitwas "This litigation violates the terms of the service agreement, which requires us to resolve disputesa such as this with a neutral We would therefore encourage the GCAP physicianas to uphold their contractual obligations and not pursue costlty litigation," according to the statement.
withdres from the Health Alliance following a long court battles that began inMarch 2006. It started operatingy independently in 2008 but only signed a final settlementf agreement inJanuary 2009. The two St. Luke hospitals similarlyt withdrew, reaching a settlement with the Health Alliancde inSeptember 2008. St. Luke has merged with .
Monday, November 5, 2012
Failure to raise capital kills formation of Scottsdale Business Bank - Phoenix Business Journal:
guronelogoh.blogspot.com
The agency, which oversees state bank formationsand charters, denied the community bank’s application to extend the fundraising period beyondc the traditional 12 months. “It took them way too and they didn’t raise nearly enough,” said Tom ADFI division manager for banks andtrust “Plus, they lost all their management team.” The Phoenixd Business Journal reported in early May that Scottsdale Businessa Bank had filed an extension with ADFI to rais e between $10 million and $15 million.
The commercialo bank originally was expected to open in the fourthy quarter of 2008 under the leadershilp of PresidentMichael Morano, but he left in April to become chier credit officer of Towner Bank of Arizona in Mesa. The May 27 regulatoryh decision underscores the tough environment for de novo bank s to raiselocal money. Many investors lost big on real estate and the stocomarket here, while small banks in metroo Phoenix have lost their appeapl as a safe investment alternative. Two community banks have collapsesd in the past year because of theire exposure to bad realestate loans, and dozens continue to struggle.
According to ADFI First Western Trust Bank was thelast state-chartered bank to open in the in November 2008. Enterprise Bank Arizona withdrew its applicatiobn in December after the Federak DepositInsurance Corp. invoked an informal moratorium on statde charters in the wake of the Wall Streey collapse and globalfinancial crisis. Jack Barry, presiden and CEO of Arizona EnterpriseCommerciak Lending, the lending arm of St. Louis-based Enterprisr Financial Corp., told the Business Journal last mont h the bank is lookinf for an acquisition as an entrance into thePhoenix market. Scottsdals Bank also withdrew its applicationin May. is in line to snap the de novo however.
It is not expected to folloqw the same doomed path of ScottsdaleBusinese Bank. “We did not gather up the namees of prospective buyers in advance of the time we got permissiohn to sellthe stock,” said Ernie Garfield, who assembledd the management teams behind both Paradisse Valley National Bank and Scottsdale Businesxs Bank. Garfield, a former state treasurer and longtimeRepublican politico, said PVNB has more than 1,000o potential investors, as opposed to only a garnered by Scottsdale Business Bank. “Hopefullh that will make a said Garfield, chairman of Inc.
in Despite federal policy changews enacted in October to spur bank the environment for raising capital remains dry inthe desert.
The agency, which oversees state bank formationsand charters, denied the community bank’s application to extend the fundraising period beyondc the traditional 12 months. “It took them way too and they didn’t raise nearly enough,” said Tom ADFI division manager for banks andtrust “Plus, they lost all their management team.” The Phoenixd Business Journal reported in early May that Scottsdale Businessa Bank had filed an extension with ADFI to rais e between $10 million and $15 million.
The commercialo bank originally was expected to open in the fourthy quarter of 2008 under the leadershilp of PresidentMichael Morano, but he left in April to become chier credit officer of Towner Bank of Arizona in Mesa. The May 27 regulatoryh decision underscores the tough environment for de novo bank s to raiselocal money. Many investors lost big on real estate and the stocomarket here, while small banks in metroo Phoenix have lost their appeapl as a safe investment alternative. Two community banks have collapsesd in the past year because of theire exposure to bad realestate loans, and dozens continue to struggle.
According to ADFI First Western Trust Bank was thelast state-chartered bank to open in the in November 2008. Enterprise Bank Arizona withdrew its applicatiobn in December after the Federak DepositInsurance Corp. invoked an informal moratorium on statde charters in the wake of the Wall Streey collapse and globalfinancial crisis. Jack Barry, presiden and CEO of Arizona EnterpriseCommerciak Lending, the lending arm of St. Louis-based Enterprisr Financial Corp., told the Business Journal last mont h the bank is lookinf for an acquisition as an entrance into thePhoenix market. Scottsdals Bank also withdrew its applicationin May. is in line to snap the de novo however.
It is not expected to folloqw the same doomed path of ScottsdaleBusinese Bank. “We did not gather up the namees of prospective buyers in advance of the time we got permissiohn to sellthe stock,” said Ernie Garfield, who assembledd the management teams behind both Paradisse Valley National Bank and Scottsdale Businesxs Bank. Garfield, a former state treasurer and longtimeRepublican politico, said PVNB has more than 1,000o potential investors, as opposed to only a garnered by Scottsdale Business Bank. “Hopefullh that will make a said Garfield, chairman of Inc.
in Despite federal policy changews enacted in October to spur bank the environment for raising capital remains dry inthe desert.
Sunday, November 4, 2012
Vaz overcomes tough start and No. 13 Oregon State downs Arizona State 36-26 - Washington Post
vuwodu.wordpress.com
OregonLive.com | Vaz overcomes tough start and No. 13 Oregon State downs Arizona State 36-26 Washington Post A fan in the crowd held a sign reading “We're » |
Thursday, November 1, 2012
Supreme Court weighs expanded warnings on deportation risk - Reuters
ysynut.wordpress.com
Supreme Court weighs expanded warnings on deportation risk Reuters WASHINGTON (Reuters) - With the future of thousands of immigrants at stake, the Supreme Court on Thursday considered whether to extend a rule that requires lawyers to tell clients who are not citizens that they can be deported if they plead guilty to ... |
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