evittiebodum1296.blogspot.com
Civic Center Eats is slated to run from11 a.m. to 2 p.m. each Tuesdaty through Sept. 29. Mayor John Hickenlooperd was marking Tuesday's opening with a scheduled 11:300 a.m. appearance to make smoothies witha bicycle-powered Presented by the Civic Center Conservancy, a nonprofi that works to preserve Civivc Center Park, and produced by , the program is bases at the plaza between the Voorhiee Memorial and Greek Theater.
It's "a opportunity for downtown employees, residents and visitors to experience CivicfCenter Park, enjoy a delicious outdoor purchase fresh Colorado producw and goods, listen to live and connect with the community," conservancy executivr director Lindy Eichenbaum Lent said in a Local vendors will be selling produce, and other and shaded tables will be available. Businessea and agencies sponsoring the weeklg program include Riverfront ParkCommunity Foundation, Holmed Roberts & Owen LLP, EnCan a Oil & Gas, Foster Graham Milstein & Calisheer LLP, Kiewit Building Group, Brownsteinn Hyatt Farber Schreck LLP, Haselden Construction, Questar Denver Pavilions, the City and County of the Colorado Oil and Gas Association and the Denvedr Post.
Monday, February 28, 2011
Friday, February 25, 2011
St. Louis hotels half full in November - St. Louis Business Journal:
mastering-input.blogspot.com
St. Louis occupancy fell 5.5 perceny in November to 50 percent, compared to 52.8 percen in November 2007, according to a recen t reportfrom Nashville, Tenn.-based Smith Travep Research. Occupancy in November 2008 fell in all of the top25 U.S. marketws except Houston, which saw its occupancyh climb 10.9 percent for the month to 70 percent. Amon the top markets, San Diego saw the biggest drop in falling 18.8 percent to 57.9 percenf occupancy for the month. In St. Louis, year-to-dat occupancy through Novemberfell 3.3 percent to 60.2 from 62.3 percent in the same perior in 2007. That mirrored occupancy in the top25 U.S. which saw the measurew fall 3.
6 percent through Novembere 2008, to 67 percent from 69.5 percentr through November 2007. Total U.S. occupancyu fell 4 percent through November2008 — to 61.8 from 64.4 percent through Novembef 2007. In St. Louis, year-to-datd revenue per available room was down 1 percent through November 2008 to RevPAR for all top 25 markets through Novemberd wasdown 0.4 percen to $89.32. St. largest hotel, downtown, will be next monthn after bondholders ofthe $277 million hotel initiated foreclosure proceedings this week.
The 1,000-roon Renaissance repeatedly failed to generatw enough revenue to cover interest payments on its The hotel remains open and continues to operateunded Marriott’s management. Nationally, Smith Travel Researcnh said it expects occupancy rates to dropanother 3.9 percent in 2009, with a corresponding 2 percent drop in room A rebound in both measures is forecast for 2010.
St. Louis occupancy fell 5.5 perceny in November to 50 percent, compared to 52.8 percen in November 2007, according to a recen t reportfrom Nashville, Tenn.-based Smith Travep Research. Occupancy in November 2008 fell in all of the top25 U.S. marketws except Houston, which saw its occupancyh climb 10.9 percent for the month to 70 percent. Amon the top markets, San Diego saw the biggest drop in falling 18.8 percent to 57.9 percenf occupancy for the month. In St. Louis, year-to-dat occupancy through Novemberfell 3.3 percent to 60.2 from 62.3 percent in the same perior in 2007. That mirrored occupancy in the top25 U.S. which saw the measurew fall 3.
6 percent through Novembere 2008, to 67 percent from 69.5 percentr through November 2007. Total U.S. occupancyu fell 4 percent through November2008 — to 61.8 from 64.4 percent through Novembef 2007. In St. Louis, year-to-datd revenue per available room was down 1 percent through November 2008 to RevPAR for all top 25 markets through Novemberd wasdown 0.4 percen to $89.32. St. largest hotel, downtown, will be next monthn after bondholders ofthe $277 million hotel initiated foreclosure proceedings this week.
The 1,000-roon Renaissance repeatedly failed to generatw enough revenue to cover interest payments on its The hotel remains open and continues to operateunded Marriott’s management. Nationally, Smith Travel Researcnh said it expects occupancy rates to dropanother 3.9 percent in 2009, with a corresponding 2 percent drop in room A rebound in both measures is forecast for 2010.
Wednesday, February 23, 2011
St. John Properties takes over Opus East business park at Aberdeen Proving Ground - Boston Business Journal:
http://consoleunderground.com/unlimited/tvshows.html
U.S. Army officials worked feverishly over the past week topull St. John Propertiesd into the fold, fearful the projecyt would come to a halt if Opus East filed for bankruptch protection before an arrangement couldfbe struck, company spokesman Gerare J. Wit said in a telephone interview “It was a real round-the-clock, week-long effort to get this Wit said. “We’re going to get in and try to kick-stary this right away.” Aberdeen is gearinyg up for a significanyt influx of military jobs underthe Pentagon’s Base Realignmeng and Closure plan, expected to be completec by September 2011.
About 8,2000 military jobs will be transferred to the in addition to as manyas 18,000 privat e contracting jobs from companies that do business with the incomingg military agencies. The selected St. John Properties to take over the Governmenyt and Technology Enterprise business park because of theBaltimorre developer’s ability to move forward with new construction, Bob program director with the Army Corps, said in a As in taking over the project, including OFC) and Manekin LLC.
Opus East was awardes rights to developthe government-owned land under a lease with the Army in Novembefr 2007 and broke ground on its firstr building in December of that Since then, the company became straddled with million s of dollars in construction loans it has been unabld to refinance, and the company has not started any new constructionh at the project for more than a year. The deal was inkexd June 19 betweenOpus St. John Properties and the Wit said. St. John and the Army Corps of Engineeras issued statements Tuesday announcing the Witsaid St. John will pay Opus East an undisclosed amount of money for its development rightsat Aberdeen. In connection with the deal, St.
John has hired Opus East projecg manager Matthew Holbrook to oversee the GATE project as its directod of defense andgovernment “Aberdeen Proving Ground is excited about movin g the project forward with St. John Tim McNamara, APG deputy garrison said in a statement. “We conside it a positive step to have their experienced managemenr team spearheadingthe build-out of this project.” As the to help it considerr options including bankruptcy. Its parentf company, , has also sought bankruptcu protectionfor it’s Opus Southn subsidiary and for two more subsidiaries of its Opus West regionall operation. Opus Corp.
spokeswoman Winstoj Hewett said Opus East is stilo evaluating its options but has not made any decisionasabout bankruptcy. The company was force d to relinquish its rights to the Aberdeen projecf because it has been unable to finance morethan $50 milliohn in construction loans it took out to finances its projects. Most pressing amont those debtsis $35 million the developer speny to build a new headquarters for the National Oceanicv and Atmospheric Administration in College Park, for which it has sued the federalo government to collect its wagesa on that project, Hewett said. St.
John planas to break ground in the next two month on at least three new buildings at the Harfors Countymilitary base, with commitmentw from defense contractors for up to 300,0090 square feet of office, research and developmenf space, Wit said. Wit did not disclosr the names of any ofthose tenants. Those buildings would be in additionb toa 60,000-square-foot building Opus East completed in December 2008 for defense contractor “We view this development as the most significant commerciaol real estate opportunity in the historyh of our company,” St. John President Edward A. St.
John said in a “This is based on the amounf of square footage that can eventually be developerd as well as the important work that will be completedeby end-users that occupy this space.” St. John Properties is the third-largestf property management firm inGreater Baltimore, with nearly 11 milliojn square feet of commercialk space in the region. But takingv over the Aberdeen project representz a shift for the which has sought to tap into the demanrd for government contracting space upuntil now. Wit said the compan has also sought in the past to buy land for its own rather than to lease property from the government such asat Aberdeen.
Opus East preliminarily received commitmentss from firms seeking space atits 413-acre Government and Technology Enterprise business park but did not start any additiona construction. The developer was unwilling to divid any of its buildingsinto multi-tenanted Wit said, preferring instead to construct buildings for a single That’s created a pent-uo demand for companies seeking from 5,000 square feet to upwarx of 20,000 square feet, Wit said.
“For all the hooplaq that BRAC has brought, there’s really only one buildinhg that Opus was ableto build,” Wit “If you don’t have the place to park those people, if you don’ t have the buildings to put them in, therse was going to be a real logisticalp problem.”
U.S. Army officials worked feverishly over the past week topull St. John Propertiesd into the fold, fearful the projecyt would come to a halt if Opus East filed for bankruptch protection before an arrangement couldfbe struck, company spokesman Gerare J. Wit said in a telephone interview “It was a real round-the-clock, week-long effort to get this Wit said. “We’re going to get in and try to kick-stary this right away.” Aberdeen is gearinyg up for a significanyt influx of military jobs underthe Pentagon’s Base Realignmeng and Closure plan, expected to be completec by September 2011.
About 8,2000 military jobs will be transferred to the in addition to as manyas 18,000 privat e contracting jobs from companies that do business with the incomingg military agencies. The selected St. John Properties to take over the Governmenyt and Technology Enterprise business park because of theBaltimorre developer’s ability to move forward with new construction, Bob program director with the Army Corps, said in a As in taking over the project, including OFC) and Manekin LLC.
Opus East was awardes rights to developthe government-owned land under a lease with the Army in Novembefr 2007 and broke ground on its firstr building in December of that Since then, the company became straddled with million s of dollars in construction loans it has been unabld to refinance, and the company has not started any new constructionh at the project for more than a year. The deal was inkexd June 19 betweenOpus St. John Properties and the Wit said. St. John and the Army Corps of Engineeras issued statements Tuesday announcing the Witsaid St. John will pay Opus East an undisclosed amount of money for its development rightsat Aberdeen. In connection with the deal, St.
John has hired Opus East projecg manager Matthew Holbrook to oversee the GATE project as its directod of defense andgovernment “Aberdeen Proving Ground is excited about movin g the project forward with St. John Tim McNamara, APG deputy garrison said in a statement. “We conside it a positive step to have their experienced managemenr team spearheadingthe build-out of this project.” As the to help it considerr options including bankruptcy. Its parentf company, , has also sought bankruptcu protectionfor it’s Opus Southn subsidiary and for two more subsidiaries of its Opus West regionall operation. Opus Corp.
spokeswoman Winstoj Hewett said Opus East is stilo evaluating its options but has not made any decisionasabout bankruptcy. The company was force d to relinquish its rights to the Aberdeen projecf because it has been unable to finance morethan $50 milliohn in construction loans it took out to finances its projects. Most pressing amont those debtsis $35 million the developer speny to build a new headquarters for the National Oceanicv and Atmospheric Administration in College Park, for which it has sued the federalo government to collect its wagesa on that project, Hewett said. St.
John planas to break ground in the next two month on at least three new buildings at the Harfors Countymilitary base, with commitmentw from defense contractors for up to 300,0090 square feet of office, research and developmenf space, Wit said. Wit did not disclosr the names of any ofthose tenants. Those buildings would be in additionb toa 60,000-square-foot building Opus East completed in December 2008 for defense contractor “We view this development as the most significant commerciaol real estate opportunity in the historyh of our company,” St. John President Edward A. St.
John said in a “This is based on the amounf of square footage that can eventually be developerd as well as the important work that will be completedeby end-users that occupy this space.” St. John Properties is the third-largestf property management firm inGreater Baltimore, with nearly 11 milliojn square feet of commercialk space in the region. But takingv over the Aberdeen project representz a shift for the which has sought to tap into the demanrd for government contracting space upuntil now. Wit said the compan has also sought in the past to buy land for its own rather than to lease property from the government such asat Aberdeen.
Opus East preliminarily received commitmentss from firms seeking space atits 413-acre Government and Technology Enterprise business park but did not start any additiona construction. The developer was unwilling to divid any of its buildingsinto multi-tenanted Wit said, preferring instead to construct buildings for a single That’s created a pent-uo demand for companies seeking from 5,000 square feet to upwarx of 20,000 square feet, Wit said.
“For all the hooplaq that BRAC has brought, there’s really only one buildinhg that Opus was ableto build,” Wit “If you don’t have the place to park those people, if you don’ t have the buildings to put them in, therse was going to be a real logisticalp problem.”
Sunday, February 20, 2011
Clark County mustard maker to add facility - Dayton Business Journal:
rubber roofing
, a fourth-generation, family ownee company, plans to buildf at least 60,000 square feet of new warehouse and distributiohn space inMorefield Township, north of Springfield, said Shane Clark County planning director. Woeber makes different types of mustard and horseradish sauce for consumers and the foodservice industry. The company is investing about $5.3 million to buildr the facility, according to an applicatiom it filed for a localtax abatement. Springfield-basefd Kapp Construction Inc. is building the facility and alread y hasbroken ground. Farnsworth said the compang is expanding, not relocating out of Springfield, whicyh is a misconception that he said hascrepyt up.
Currently, Woeber occupies more than 100,000 squarew feet of office and production spacein Springfield, employing about 140 The new jobs created for the distributiojn facility will pay between $25,000 and $35,009 a year, according to the Woeber officials did not return calls seeking The Clark County Commission is expecterd to vote soon on $350,000 in tax abatements to facilitatee the expansion. Morefield Township trusteexs already have approved the provided the company use part of the money it saves from the abatement to provide localacademic scholarships, Farnsworth said.
Clark County Commissioner John Detricik said Woeber Mustard is a good example of the patchworkj of companies in his county that are thriving despite a general economicdownturn nationwide. He said he is particularlyy happy to see Woeber doing well because the family is deeplg rooted inthe community. Detrick said many companies thrive near Springfiels because of its interstate which can place distributors to half ofthe country's plus Canada, within a day's In recent years, other food makerxs and distributors, such and have expandec their Clark County operations. Bob Evans announced last year it would expansd its Springfield facilityby 65,000 square adding 20 jobs to the 43 there.
, a fourth-generation, family ownee company, plans to buildf at least 60,000 square feet of new warehouse and distributiohn space inMorefield Township, north of Springfield, said Shane Clark County planning director. Woeber makes different types of mustard and horseradish sauce for consumers and the foodservice industry. The company is investing about $5.3 million to buildr the facility, according to an applicatiom it filed for a localtax abatement. Springfield-basefd Kapp Construction Inc. is building the facility and alread y hasbroken ground. Farnsworth said the compang is expanding, not relocating out of Springfield, whicyh is a misconception that he said hascrepyt up.
Currently, Woeber occupies more than 100,000 squarew feet of office and production spacein Springfield, employing about 140 The new jobs created for the distributiojn facility will pay between $25,000 and $35,009 a year, according to the Woeber officials did not return calls seeking The Clark County Commission is expecterd to vote soon on $350,000 in tax abatements to facilitatee the expansion. Morefield Township trusteexs already have approved the provided the company use part of the money it saves from the abatement to provide localacademic scholarships, Farnsworth said.
Clark County Commissioner John Detricik said Woeber Mustard is a good example of the patchworkj of companies in his county that are thriving despite a general economicdownturn nationwide. He said he is particularlyy happy to see Woeber doing well because the family is deeplg rooted inthe community. Detrick said many companies thrive near Springfiels because of its interstate which can place distributors to half ofthe country's plus Canada, within a day's In recent years, other food makerxs and distributors, such and have expandec their Clark County operations. Bob Evans announced last year it would expansd its Springfield facilityby 65,000 square adding 20 jobs to the 43 there.
Friday, February 18, 2011
HOPE Scholarship not lost, but diminished - Bizjournals.com
http://eventful.com/users/Xenona
Red and Black | HOPE Scholarship not lost, but diminished Bizjournals.com The program will no longer cover a rise in tuition costs, and remedial classes will no longer be covered, among other provisions, according to macon.com, citing an Associated Press report. Deal plans to announce more details of the plan on Tuesday. ... Plan to Save HOPE is in Place, Capping Awards |
Tuesday, February 15, 2011
Smith & Hawken to shutter at SouthPark - Nashville Business Journal:
Wood ceiling
“The combination of a weak economy and the lack of scalre proved too great to Jim Hagedorn, chief executive of Ohio-based lawn and garden giant , said in a statemenrt Wednesday. Employees of the 5,500-square-foot store at Phillipes Place were notified Thursdah of the plans to shutterthe operation. A closing date hasn’t been announced. Smith Hawken opened the storein 1998. Scottxs (NYSE:SMG) says storewide saleds across the chain will begi immediately and be managed bya third-party Orders on Smith Hawken’s Web site, catalog and call centere have been discontinued. The chai n has specialized in gardening clothing, furniture, books and calendars.
For a Scotts had been exploring options forthe high-end gardej brand it bought in 2004 for $68.45 million. But it decided closing the business wasthe “best optio available,” Hagedorn said. Scotts’ latestf annual report said the chain has consistently underperfomedf during the pastfive years.
“The combination of a weak economy and the lack of scalre proved too great to Jim Hagedorn, chief executive of Ohio-based lawn and garden giant , said in a statemenrt Wednesday. Employees of the 5,500-square-foot store at Phillipes Place were notified Thursdah of the plans to shutterthe operation. A closing date hasn’t been announced. Smith Hawken opened the storein 1998. Scottxs (NYSE:SMG) says storewide saleds across the chain will begi immediately and be managed bya third-party Orders on Smith Hawken’s Web site, catalog and call centere have been discontinued. The chai n has specialized in gardening clothing, furniture, books and calendars.
For a Scotts had been exploring options forthe high-end gardej brand it bought in 2004 for $68.45 million. But it decided closing the business wasthe “best optio available,” Hagedorn said. Scotts’ latestf annual report said the chain has consistently underperfomedf during the pastfive years.
Sunday, February 13, 2011
Special ratings: Overachievement - Silicon Valley / San Jose Business Journal:
kdrummondbs37.blogspot.com
Business First not only rates the academifc performance of WesternNew York’s 98 schoo districts, but also grades them in severap specialized categories. Among them is overachievement/underachievement. Aim: Identifyh districts that have strongacademic records, even though a substantiao number of their students live in Formula: Each district’s academicf rank is compared to its socioeconomicc climate rank. If a district is 25th academicallyy and 50thin socioeconomics, it is said to have overachiever by 25 places.
If the same districg is 58th academically, it has underachieved by eight Note: Look for Business First’s storty on socioeconomic climate, whichb was published on Tuesday ofthis week. Districts are placed in five categories, ranginh from large overachievement tolarge underachievement. Each district’s achievement rating is included in its profilre in the printed version ofBusiness First’z 2009-2010 Guide to Western New York Schools. Leader: Shermanh overachieves in a big way. It’s saddled with one of the 10 worsty poverty rates in WesternNew York, reflected in its rank of 86th for socioeconomicf climate.
Yet Sherman is an impressived 29th in theacademic standings, an improvement of 57 positions. Below are 97 districtx rated from biggest overachievers tobiggest underachievers. (Ther e are numerous ties.) Wyoming is not included becauss it does not have ahigh • 1. Sherman • 2. Fillmore • 3. Alfred-Almondf • 4. Westfield • 5. Clymer 6. Pine Valley 7. Albion • 8. Lyndonville 9. Belfast • 10. West Valleu • 10.
Wilson
Business First not only rates the academifc performance of WesternNew York’s 98 schoo districts, but also grades them in severap specialized categories. Among them is overachievement/underachievement. Aim: Identifyh districts that have strongacademic records, even though a substantiao number of their students live in Formula: Each district’s academicf rank is compared to its socioeconomicc climate rank. If a district is 25th academicallyy and 50thin socioeconomics, it is said to have overachiever by 25 places.
If the same districg is 58th academically, it has underachieved by eight Note: Look for Business First’s storty on socioeconomic climate, whichb was published on Tuesday ofthis week. Districts are placed in five categories, ranginh from large overachievement tolarge underachievement. Each district’s achievement rating is included in its profilre in the printed version ofBusiness First’z 2009-2010 Guide to Western New York Schools. Leader: Shermanh overachieves in a big way. It’s saddled with one of the 10 worsty poverty rates in WesternNew York, reflected in its rank of 86th for socioeconomicf climate.
Yet Sherman is an impressived 29th in theacademic standings, an improvement of 57 positions. Below are 97 districtx rated from biggest overachievers tobiggest underachievers. (Ther e are numerous ties.) Wyoming is not included becauss it does not have ahigh • 1. Sherman • 2. Fillmore • 3. Alfred-Almondf • 4. Westfield • 5. Clymer 6. Pine Valley 7. Albion • 8. Lyndonville 9. Belfast • 10. West Valleu • 10.
Wilson
Thursday, February 10, 2011
Police Seize Heroin, Cash After Narcotics Investigation - Hartford Courant
http://www.collegecostshowmuch.com/2005/p_news/nit/iacpa-archieve/nit-staffers/top24.html
Police Seize Heroin, Cash After Narcotics Investigation Hartford Courant After a lengthy narcotics trafficking and sales investigation in the Greater Bridgeport Area ... Task force seizes heroin, $176K in cash 3 arrested in connection with heroin-dealing ring |
Tuesday, February 8, 2011
Leeds Carnegie can avoid the drop - Adrian Jarvis - BBC News
houston-nearly.blogspot.com
Leeds Carnegie can avoid the drop - Adrian Jarvis BBC News New Leeds Carnegie fly-half Adrian Jarvis believes his side can avoid relegation from the Premiership. The 27-year-old joined from Bristol until the end of ... |
Saturday, February 5, 2011
Bowling museum to close Nov. 8 - St. Louis Business Journal:
idellecromwell1991.blogspot.com
The museum, which has operated in St. Louis since 1984, is then expected to re-ope n in Arlington, Texas, in 2010 as part of the InternationakBowling Campus, which will also houser the United States Bowling Congress and the Bowlinhg Proprietors Association of America. “We had two options: eitherd joining the Ballpark Village or movinhgto Texas, and the boarsd thought it was in the best interest of the museumm to move,” said Sonia Brooks, museum office manager. The museuk has five full-time employees and 15 part-time employees. It’s not clear which full-time employeews will relocate. Brooks, who has workede at the museum 15 saidshe isn’t movinbg to Texas.
“I hate to see it she said. The museum sold its building and land to the Ballparl Village development partnership consisting ofthe St. Louia Cardinals and the The museum firstr announced its movein .
The museum, which has operated in St. Louis since 1984, is then expected to re-ope n in Arlington, Texas, in 2010 as part of the InternationakBowling Campus, which will also houser the United States Bowling Congress and the Bowlinhg Proprietors Association of America. “We had two options: eitherd joining the Ballpark Village or movinhgto Texas, and the boarsd thought it was in the best interest of the museumm to move,” said Sonia Brooks, museum office manager. The museuk has five full-time employees and 15 part-time employees. It’s not clear which full-time employeews will relocate. Brooks, who has workede at the museum 15 saidshe isn’t movinbg to Texas.
“I hate to see it she said. The museum sold its building and land to the Ballparl Village development partnership consisting ofthe St. Louia Cardinals and the The museum firstr announced its movein .
Thursday, February 3, 2011
Ten banks allowed to repay TARP funds - New Mexico Business Weekly:
http://rhce-linux.net/bbl0171.html
The Treasury Department did not name the10 banks, but said they were beinfg approved for early repayment of the federao bailout funds under the Troubled Assert Relief Program (TARP) because the so-called stress tests performed by the government revealed they were healthy enough to pay back the The department said the institutions have met the requirements for repayment established by federal banking supervisors. It noted that many banks recently have raised equityy capital from private investors and haveissued long-term debt that is not guaranteex by the government.
“These repayments are an encouraginbg sign offinancial repair, but we still have work to do,” Treasuryt Secretary Tim Geithner said. More than 600 banks receivec a total ofnearly $200 billion through the department’xs Capital Purchase Program. About $2 billion of this monety was paidback previously. Under the program, bank that repay their preferred stock can repurchasw the warrants that the Treasury Department Besides the proceeds from the salesw ofthe warrants, the department also has receiveed $4.5 billion in dividend payments from prograk participants. Proceeds from the repaymentse to go theTreasury Department’s general fund.
They can be used to reduc the national debt and can serve as a cushiohn in case the department needs to respond to financiapl emergencies inthe future, the department said. The list of 10 banks was not publiclt disclosed, but many of the banks confirmer separately in press releases that they receiver approval to buy back preferred sharexs sold to the federal including two banks withsizable Milwaukee-areaa presences: (NYSE: USB) and J.P. Morganj Chase (NYSE: JPM). U.S. Bank was cleare to repay $6.
6 billion in TARP fundsd and Chase was approved to repayall $25 billio n in TARP funds it Locally based banks that received TARP fundsz include and of Milwaukee, of Menomonee Falls and in M&I, the Milwaukee-area's largest bank, was not amontg the list of 10 banks approved to repay its TARP according to media reports. M&I said in May that it begahn to sell stock in a sale that coulfd raise as muchas $350 million in proceeds, part of which the bank said it may use to repau a portion of the $1.
7 billion capital infusiojn it received in Novembetr 2008 under TARP if approved by
The Treasury Department did not name the10 banks, but said they were beinfg approved for early repayment of the federao bailout funds under the Troubled Assert Relief Program (TARP) because the so-called stress tests performed by the government revealed they were healthy enough to pay back the The department said the institutions have met the requirements for repayment established by federal banking supervisors. It noted that many banks recently have raised equityy capital from private investors and haveissued long-term debt that is not guaranteex by the government.
“These repayments are an encouraginbg sign offinancial repair, but we still have work to do,” Treasuryt Secretary Tim Geithner said. More than 600 banks receivec a total ofnearly $200 billion through the department’xs Capital Purchase Program. About $2 billion of this monety was paidback previously. Under the program, bank that repay their preferred stock can repurchasw the warrants that the Treasury Department Besides the proceeds from the salesw ofthe warrants, the department also has receiveed $4.5 billion in dividend payments from prograk participants. Proceeds from the repaymentse to go theTreasury Department’s general fund.
They can be used to reduc the national debt and can serve as a cushiohn in case the department needs to respond to financiapl emergencies inthe future, the department said. The list of 10 banks was not publiclt disclosed, but many of the banks confirmer separately in press releases that they receiver approval to buy back preferred sharexs sold to the federal including two banks withsizable Milwaukee-areaa presences: (NYSE: USB) and J.P. Morganj Chase (NYSE: JPM). U.S. Bank was cleare to repay $6.
6 billion in TARP fundsd and Chase was approved to repayall $25 billio n in TARP funds it Locally based banks that received TARP fundsz include and of Milwaukee, of Menomonee Falls and in M&I, the Milwaukee-area's largest bank, was not amontg the list of 10 banks approved to repay its TARP according to media reports. M&I said in May that it begahn to sell stock in a sale that coulfd raise as muchas $350 million in proceeds, part of which the bank said it may use to repau a portion of the $1.
7 billion capital infusiojn it received in Novembetr 2008 under TARP if approved by
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