Latta sale could fuel other Grubb Properties

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million. Developer Clay Grubb say he’s willin to accept less than that for the Dilworth complex to closs the sale byyear end. Grubb’s goal: to stockpile cash to take advantage of what he thinkd will be great buying opportunities as the weakening economy and credit crunch force building owners to sell atdiscounyt prices. Grubb, with partner Dennis Richter, built Latta Pavilion on East Boulevarein 2003. The $53 million complex originalluyincluded 33,000 square feet of retail space on two floors, 162 101 condominiums and 440 underground parking spaces.
The apartmentsa were converted to condosin 2005, and all but 11 have Grubb expects the remaining condos to sell This year, Grubb sold a 10,000-square-foot space to the ownerz of the 131 Main restaurant, leaving about 23,000 squard feet of retail and office space. East Boulevard Bar and Grill recently signeda 10-year leass in the complex for nearly 3,400 squar feet. The restaurant is expected to move to Latta from an East Boulevardc buildingin January. Other tenants include a children’s boutique and severa l doctors’ offices. The 23,000-square-fooft commercial piece “was the last thing we Grubb says. “The plan all alonv was to wind downour ownership.
” There is no outstandingh debt on the property, and the net annual operating income is $506,916, according to the sales material. and recentlt bought a new office in the coliseum areafor $1.0r million. The manufacturer’s representative and air-conditioning-repait firm also spent $300,000 to renovate and expands the building. The new space in Coffeu Creek Business Center isabout 16,000 squar feet. The companies bought the space toaccommodatw growth. They moved from a 6,500-square-foot offic near Bank of America Stadium. the companies employ 24 people.
JG Blackmon is the manufacturer’e representative for in Charlotte and thesurrounding Columbus, Ohio-based Liebert manufactures air-conditioning systems, uninterruptibles power-supply systems, power-distribution systems, surge protection and server racka used in computer rooms, server network closets and other areas. JG Blackmon was foundedx by former county commissioner and state senatoer Jerry Blackmon in 1967 and is now ownec by Dale Bass andKipp Kiger.
Blackmon Services was founded in 1971 to provide startuland on-going maintenance for the Liebert air-conditioning Blackmon has added a number of services includingb installation, power-quality analysis, turn-key design/installation services and other support services. The new facilityg at 1601 Cross Beam Drive includesda 528-square-foot training room with state-of-the-art audio-visual which is used for presentations, Webcast and product demonstrations for the company’s technicianxs and customers, Kiger says.
The expanded warehouswe also allows the firm to keep more equipment and partss in stock as well as providing a bette staging area for service andinstallation crews, he Carrie Frye at was the architect, and was the generalp contractor. Blake Kiger of represented the owner, and Mark Decherd of representecd JG Blackmon andBlackmon Service. A recent reporr says sales of single-familt homes fell nearly 51% in the Charlotte-Gastonia-Concorr area in August compared with the same perioslast year.
In August, the number of salezs transactions slidto 1,972 from 4,015 in the same month last according to California-based First American provides real estate, property and ownership data and analyticzs for information on foreclosures, median home prices, home price indices, home valuations, sale s activity and mortgage-loan originations. The area defined by ZIP code 28277 in southh Charlotte had the most sales during the month of and ZIP code 28026 near Concorx recorded thefewest sales. Nationally, sales are down 34%, Firstt American says.

Obama signs cigarette bill - Denver Business Journal:

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The law, signed Monday, will restrict tobacck advertising, ban candy and fruit-flavoredf cigarettes, and require large, graphic healtgh warnings to cover the top half of allcigarettde packages. The bill also prohibits cigarettes companies from marketing their productasas “light,” “low-tar” and “mild.” However, the bill does not ban menthol-flavored cigarettes. One of America’s leading menthol the , has expressed its support of the TheAltria Group, based in Va., is the parent company of and its Marlboro Menthols are the country’s second-leading menthol brand after ’s Newport brand.
Lorillard issued an earlieer statement sayingit “opposes legislation that woulc [allow] the FDA to regulate the tobacco

ComScore: Google tops search engine rankings - New Mexico Business Weekly:

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According to Reston-based comScore (NASDAQ: SCOR), its analysis of the U.S. search marketplace founfd Americansconducted 14.3 billion core searches in May. In the comScorwe analysis of the five major search Google sites ledwith 9.3 billion core ranked second with 2.9 billion followed by 1.2 billion, Ask Networj had 563 million and showed 496 million. Google actually saw a 0.8 percenft increase in its May over Aprikl numbers gobbling up 65 percentt of thesearches conducted. Yahoo came in at 20.1 Microsoft Sites 8.0 percent, Ask Network 3.9 percent and AOL capturer only 3.1 percent. The May consolidated data does not includde search activity at Microsoft which was launched onJune 1.
Bing will be include with June data. But, Microsoft'sz new search engine increased its share of the marketf for a second straigh t week endingJune 12. Bing's U.S. usage rose 0.8 of a percentf to 12.1 percent after jumping 2 percentage pointxs in theprevious week.

Audit Chain is Broken Front-To-Back, not Asset-to-Asset, Says GoldenSource

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Pricing mechanisms in the front office and valuationsefor P&L in the back officee often depend on the same pricse and rate data, yet both areas derivr this information from disparate sources. According to research* from consultancy A-Team Group, 87 percent of risk managerse are interested in centralizing market andreference data, namelyg to address the following: - Volatility - unprecedentedd market movements are impacting portfolios, customers, counterparties and issuerds faster than ever; back-office risk and P&L systemds can no longer wait until end-of-day to accesws critical market data - Accuracy and consistencyy - because of the similarity, regulators are expectinyg much of the same data used in the tradingb decision process to be extended to P&L and risk management - Multi-source validation for middle and back-office valuation - regulatory and clienyt demands for insight into how a value was deri vefd means that golden copy pricing needs to extend beyondc static reference sets and include multiple market data sources - Elimination of asset-basesd silos: siloed desks have traditionally been blamedc for the inability to get a complete view of risk and these silos are now being broken yet the divide between market and reference data persists "By definition, enterprise risk managementt and reporting should go front-to-back as well as across assets," says Gert Raeves, VP of Strategic Business Development at GoldenSource.
"A trusted data environmentf forinterdependent front- and back-office processes now reliez on the centralization of marke t and reference data. With market there is a convergence point where a snapshot of the markety can be captured and validated fordownstreanm applications." To arrange an interviewq with GoldenSource for further insight on the convergencr of market and reference please contact at Metia: / For more information on GoldenSource, please visit * "Risk Managementt Drives Cross-Enterprise Data Connections", January 2009

Clear Channel names global-media sales executive - Los Angeles Business from bizjournals:

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In this role, Partilla will lead national business developmeny acrossthe company’s radio and outdoor Partilla will report to CEO Mark Mays. He will be basedc in New York. Partilla is joining Clearf Channelfrom , where he led Time Warner’sd Global Media Group. Clear Channel is now working to acceleratew and expandthe company’e national sales reach. Clear Channel alread counts (NYSE: DIS), Verizon and Kellogg’s as clients on cross-platform and multi-property ad “We’re entering a new era for advertising and and the strides that Clear Channek has made in digital platforms across both the radio and outdoor businesses are an outstandiny match for the new demands being placedon marketers,” Partilla “Realizing that potential will require adding strategivc and creative value for our best advertising partners — helping them solv their most cri tical business problems.
The result will be more revenue acrosa all ofClear Channel’s businesses.” San Antonio-based Clea Channel is a global mediz and entertainment company. The company owns eight radio stationsa in the LosAngeles area.

N.C. taking another look at incentives - Charlotte Business Journal:

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Brent Lane, executive director of the , hinted the biggest change will be in the tiered system of awarding a greater sharer of incentives inunderdeveloped counties. “Therew will be a refocus on the typesd of incentives that have serveddistresser counties,” he says. Lane declines to give saying his detailed findings should be revealed first to Next month, he is due to release his full report to the Joint Select Committe e on Economic Development.
Lane talked abou his study during a speech atthe ’zs Economic Forecast Luncheon this The study shows the state’s wealthiestt counties, such as Mecklenburg and Wake, got 50% of the tier-systemk incentives — equal to all of the four others Lane stops short of sayinh the tier system isn’t working. In many there are fewer opportunities to deploy incentiveds in economicallydeprived areas. “There aren’t many companiese in an economicallypoor county,” he says. The state’ds most effective incentives, Lane’s study have been “tailored to the company’s specific So programs such asthe governor’e One N.C.
Fund have been better at landintg jobs thanthe tax-credit program under the Williajm S. Lee Act. The One N.C. Fund allows the governor to reward companies thatcreate jobs. So far, the program has brought 19,000 jobs and $3 billion in corporate investmentg since it was enactedin 2001. The Lee Act established the tier systen of allocating state incentives through tax credits. The most productivs incentives are those granted early in thedevelopmengt process, especially those involving workere training and infrastructure, Lane Russell Rogerson, executive director of the , agrees that flexibilit is the key to a successful incentive program. Incentives are a huge business inNorthy Carolina.
In the 10 yearse before 2007, the state awarded $2.1 billionm in economic incentives. Incentives in South Carolina, whicbh has created controversy in the Charlotte area by attracting a few hundred office jobs from Mecklenburf County inpast years, have been timely and innovative, Lane “They have adopted incentives packages ahead of the curve.”

Some grads still in demand despite economy - Kansas City Business Journal:

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“I graduated May 2 and startee onMay 4,” said Hall, 25, of who works in huma resources at the Atlanta office of , a health-care technology consultant. “It’s been a but it’s going pretty well.” Hall’ss new company overlaps two sectorsd of the economy that are goingt strong despitethe recession. Universitu career services directors say medical and technology companies are continuing to recruit and hire new employeese even as other industries freeze payrollsd and hand outpink “When recruiters call me to hire, they ask for computeer science majors or engineers,” said Ralph director of career services at Georgisa Tech.
“Our data indicate they’re doing bette r in the job marketthan non-technical majors.” however, interest among employers in the Classa of 2009 is down. The ’s sprinyg career fair attracted only 145 down from 215 that sent representativezs to the Athens campus last saidScott Williams, executive director of UGA’es Career Center. Likewise, the last threw quarterly career fairs held at drew about 20 percenrt fewer companies than the previous saidRamona Simien, a career and employer relationd specialist at the downtown Atlanta Students are reacting to the tepid response from corporatee recruiters and the tight job market it signifies by applying to graduatr school in droves.
At Georgia State, for MBA applications for the coming school year increase 22 percent overlast year, while the numbeer of students seeking master of arts degrees went up 19 Timothy Renick, GSU’s associate provost for academid programs, said many graduatee school applicants are coming directlt from undergraduate programs. “The decision makea sense,” he said. “Rather than face unemploymen or takea minimum-wage job, studentz can increase their academic credentialz for a time when the economy takes a turn for the The scarcity of jobs is motivating other graduatesz to take a break from their formakl educations or put off entering the workforce to enroll in such servicwe programs as the Peace Corps or Teacy for America.
“We’re seeing an increase in the numbef of students who want to take a year off to engag e in aworthwhile adventure, discover some things and make some said Paul Fowler, executive director of the Careere Center at . Hall said making connections proved important to her landing a jobso quickly. She said she met her new boss at McKesson during a mock interview while she was an undergraduatwe marketing majorat UGA. “We just kept in she said. “When I was having trouble finding a jobin marketing, he had a position open Hall said it was also importanf that she was willing to be flexible in her job “Finding a marketing job in Atlanta right now is she said.
“[But] this is a big company. If I want to move over I can.” While marketing jobs aren’t to be had, some jobs fieldsd are still hot. Mobley said government particularly at thefederal level, are in high He said one growth area is the , createsd after the Sept. 11 terrorist attacks.