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Two additional companies owned by the holding companh also filed Chapter 11 andPeter Levitt, of in represents all three debtors. “The bank was seizedd and sold,” Levitt said. the bank is not involved. The parent companyh has its own assets and and that entity needs to have an orderly process for dealing with its The financial services entity has been involved in sellinhg insuranceand annuities. “That’s a separate with about 20 employees in Coral and we’re hoping that can continue,” Levitt “Nothing is certain, but we’re going to make a real effortf for that to continue.
The rest of the bankruptcy is a questionh of maximizing the assets which are mostly cashand claims.” CRE Americs owns some real estate, but Levitt said he was not able to say what wouldd happen to it yet. Unlike some bank holdinyg companies that have other BankUnitedFinancial (NASDAQ: BKUNA) was totally reliant on its bank to keep $184 million in convertible senior HiMedsw units (a type of security developede by $12.5 million in juniot subordinated debentures, which have a lowerf claim on assets than seniodr notes The petition listed one to 49 creditors and was signedf by Bradley S. Weiss as chief restructuring officer. Weiss was vice chairmah of BankUnitedFinancial Corp.
The law firms of of Los Angele andShutts & Bowen will be handling the The list of largest unsecuredf creditors was led by , , and for several series of the trust preferrerd securities. In many bankruptcy such institutions are representativez for those who actually hold the Waterford Township General EmployeesRetirement System, which has a clasx action case against BankUnited also is listed as a creditor for an unknownh amount. Three Miami law firms – , and are listed as creditors for anunknowh amount. Trading in BankUnited Financial's stock was haltee at 5:28 p.m. on Thursda y to allow dissemination of thetakeovee news.
On Friday, NASDAQ changed the trading halt status to say it was requestinfg additional information from the Inmany cases, shareholders of bank holdingv companies have their value wiped out aftere a takeover, which leaves theird stock worthless. BankUnited Financial last trade dat 49.2 cents. Sharees had been trading heavily in the days beforethe FDIC-organizef bidding and the takeover. The company's stock markett capitalization was downto $17.55 million when tradingv was halted, according to Yahoo Finance.
Friday, April 13, 2012
Wednesday, April 11, 2012
Wigan inflicts shock 1-0 loss on Man Uni - FOXSports.com
edibin.wordpress.com
The Guardian | Wigan inflicts shock 1-0 loss on Man Uni FOXSports.com Manchester United's eight-match winning run came to a surprising end on Wednesday when Wigan inflicted a 1-0 loss on the defending champion to revive the Premier League title race. Shaun Maloney scored the winner in the 50th minute at the DW Stadium, ... Wigan inflicts shock 1-0 loss on Man United Man U drops to lowly Wigan: EPL |
Tuesday, April 10, 2012
Ford sales climb to highest level since July - Phoenix Business Journal:
houghtalingbaemo1268.blogspot.com
But sales were down 24.2 percent compared with May when the companysold 213,238 For the first five months of Dearborn, Mich.-based Ford F) sold 620,303 units, compared with 981,150o units during the same period a year a 36.8 percent decline. In a sign that buyers might be comingh back to the luxuryvehicle market, Ford’s Lincolnj division reported that it sold 8,566 units in May, a 2.2 percenty increase over May 2008, when it sold 8,365 units. Salee of Ford Explorers, made at the Louisvilles Assembly Plant on Fern Valley declined 34.6 percent, to 5,315 units from 8,122 units a year ago. Salea of the Mercury Mountaineer, also made at Louisville dropped 45.
2 percent, to 402 from 734 unitse a year earlier. Salews of F-Series pickup trucks, including Super Duty truckxs made at the Kentucky Truck Plant onChamberlaim Lane, dropped 22.3 percent, to 33,381 units, from 42,97w units in May 2008. Salex of Ford Expedition SUVs, which began productio at Kentucky Truck Plantin April, declinede 40 percent, to 3,150 units from 5,2522 units a year earlier. Sales of the Lincolj Navigator, also made at Kentucky Truck dropped 40.6 percent, to 790 unit from 1,329 units a year Ford saw year-over-year gains in some of its car The companysold 19,786 Fusionb sedans in May, up 9.
4 percengt from the year-earlier period when it sold 18,088 Lincoln sold 1,553 Town Cars in May, up 103.3 percenf from May 2008, when it sold 764 of the luxuryu vehicles. Ford’s Volvo division sold 590 of its S60 up 9 percent fromMay 2008, when it sold 542 Also Tuesday, Ford announced a summer promotiom to draw more consumers to dealerships. Through June 30, the automaker will covere as much as three months of paymentx upto $2,100, and its Ford Credit subsidiar y will offer zero percent financing on selecft Ford, Lincoln and Mercury vehicles.
But sales were down 24.2 percent compared with May when the companysold 213,238 For the first five months of Dearborn, Mich.-based Ford F) sold 620,303 units, compared with 981,150o units during the same period a year a 36.8 percent decline. In a sign that buyers might be comingh back to the luxuryvehicle market, Ford’s Lincolnj division reported that it sold 8,566 units in May, a 2.2 percenty increase over May 2008, when it sold 8,365 units. Salee of Ford Explorers, made at the Louisvilles Assembly Plant on Fern Valley declined 34.6 percent, to 5,315 units from 8,122 units a year ago. Salea of the Mercury Mountaineer, also made at Louisville dropped 45.
2 percent, to 402 from 734 unitse a year earlier. Salews of F-Series pickup trucks, including Super Duty truckxs made at the Kentucky Truck Plant onChamberlaim Lane, dropped 22.3 percent, to 33,381 units, from 42,97w units in May 2008. Salex of Ford Expedition SUVs, which began productio at Kentucky Truck Plantin April, declinede 40 percent, to 3,150 units from 5,2522 units a year earlier. Sales of the Lincolj Navigator, also made at Kentucky Truck dropped 40.6 percent, to 790 unit from 1,329 units a year Ford saw year-over-year gains in some of its car The companysold 19,786 Fusionb sedans in May, up 9.
4 percengt from the year-earlier period when it sold 18,088 Lincoln sold 1,553 Town Cars in May, up 103.3 percenf from May 2008, when it sold 764 of the luxuryu vehicles. Ford’s Volvo division sold 590 of its S60 up 9 percent fromMay 2008, when it sold 542 Also Tuesday, Ford announced a summer promotiom to draw more consumers to dealerships. Through June 30, the automaker will covere as much as three months of paymentx upto $2,100, and its Ford Credit subsidiar y will offer zero percent financing on selecft Ford, Lincoln and Mercury vehicles.
Sunday, April 8, 2012
3-pointer: Playoff realities are hitting hard - ESPN (blog)
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Sportsnet.ca | 3-pointer: Playoff realities are hitting hard ESPN (blog) By Jeff Caplan | ESPND » |
Friday, April 6, 2012
Cigar smoking at Masters still in fashion, but less so - The Augusta Chronicle
cicugaha.wordpress.com
The Augusta Chronicle | Cigar smoking at Masters still in fashion, but less so The Augusta Chronicle Chris Croom (left) and Cole Harmonson smoke cigars near the 15th fairway during Thursday's first round. Patrons say smoking cigars at golfing events is still all right so long as they don't intrude on nonsmokers. By Tracey McManus Staff Writer The ... < p size="-1" class="p"> |
Wednesday, April 4, 2012
After Title Run, the Starting 5 Rush for the Exit - New York Times
qozadaunu.blogspot.com
New York Times | After Title Run, the Starting 5 Rush for the Exit New York Times The starting five for the champion Kentucky Wildcats â€" a mix of freshmen and sophomores â€" are expected to enter the NBA draft, and never again play for the college they ever so briefly attended. Mark Emmert, the president of the National Collegiate ... Can Kentuc ky repeat if it loses starting lineup to draft? Can Kentucky repeat if it loses starting lineup? Kentucky Wildcats: How good are they? Poll |
Monday, April 2, 2012
Stimulus: States allocated $5B for affordable housing - New Mexico Business Weekly:
wanuso.wordpress.com
States will use the money to help developers financw the acquisition and construction of affordable rental The funds are designed to fill the financingt gap created by the frozen market for Low Income HousinggTax Credits, a federap program that provides incentives for investment in rental housing for low- and moderate-incomwe families. As many as 1,000p housing projects around the country are on hold because the valued of the tax credits has plummeted due to thecreditr crisis, according to the Treasurg Department.
Treasury collaborated with the Department of Housing and Urbanm Development on the programs to assist statesz in financing affordablehousing “These programs are an important step in achieving the goal of puttint American people back to work, while at the same time providingt quality, affordable housing options for low-incomwe families,” HUD Secretary Shaun Donovan said. HUD also signeds an agreement with the Department of Energyg that will make it easiefr for residents of HUD public and assisted housing to weatherizetheirr homes.
The income verification requirementws for the Departmentof Energy’s Weatherization Assistanc e Program, which received $5 billion through the economicc stimulus bill, are the same as for HUD housing subsidies. Under the agreement signed by the two residentsof HUD-assisted housing won’t have to go through the income verificatio process again in order to have theire homes weatherized. “Thanks to this new partnership, we’re going to tear down the unnecessary barriers in making the homexof low-income and elderly citizens more energy-efficient, and shredc the red tape that too often stands betweenm government assistance and the people it is meant to Vice President Joe Biden “In the process, we’ll not only brinvg down energy costs, but also create new greenj jobs that will be the foundatiobn of our economic recovery.
” Constructioh companies that have received contracts for projecte funded by the economic stimulus bill are beginninvg to hire new workers or rehirer laid-off employees, according to . “Early reports indicated that the infrastructure piecr of the stimulus is beginning to do exactly whatwas intended, put construction workers back on the said AGC Chief Economist Ken Simonson. Other contractorzs are canceling planned layoffsd becauseof stimulus-funded contracts, Simonson said. For many stimulus projects are keeping a bad business environment fromgetting worse, he said. The number of constructionh jobs declinedby 110,000 in according to the Bureau of Labor Statistics.
Withoutt stimulus-funded projects, that number woulxd have been much worse, Simonsojn said. Overall, nonfarm payroll employment fellby 539,0090 jobs in April, the smallesty decline in six months. This couldr be a sign that the economy is beginninfgto stabilize, which “is consistent with the notion that demand for new constructiojn will begin to emerge lateer this year and into 2010,” said Anirban chief economist for Associated Builders and “The stimulus package represents an importantt element in that formula,” Basu said.
“With the broaded economy beginning to recover even before the stimulusx package has had amajor impact, the implication is that bettee times are ahead.” Energy to award $787 million for biofuels R&D The Department of Energyt plans to use $787 milliohn in economic stimulus funds for biorefinery demonstratiob projects, and advanced biofuels researcuh and development. The department will award $480 million for pilot- and demonstration-scalse biorefineries that produceadvanced biofuels, and heat and power in an integrated system. Theser projects will facilitate the development of an advancef biofuels industry to helpthe U.S.
reduce its dependencee on petroleum-based transportation fuels, according to the Departmenft of Energy.
States will use the money to help developers financw the acquisition and construction of affordable rental The funds are designed to fill the financingt gap created by the frozen market for Low Income HousinggTax Credits, a federap program that provides incentives for investment in rental housing for low- and moderate-incomwe families. As many as 1,000p housing projects around the country are on hold because the valued of the tax credits has plummeted due to thecreditr crisis, according to the Treasurg Department.
Treasury collaborated with the Department of Housing and Urbanm Development on the programs to assist statesz in financing affordablehousing “These programs are an important step in achieving the goal of puttint American people back to work, while at the same time providingt quality, affordable housing options for low-incomwe families,” HUD Secretary Shaun Donovan said. HUD also signeds an agreement with the Department of Energyg that will make it easiefr for residents of HUD public and assisted housing to weatherizetheirr homes.
The income verification requirementws for the Departmentof Energy’s Weatherization Assistanc e Program, which received $5 billion through the economicc stimulus bill, are the same as for HUD housing subsidies. Under the agreement signed by the two residentsof HUD-assisted housing won’t have to go through the income verificatio process again in order to have theire homes weatherized. “Thanks to this new partnership, we’re going to tear down the unnecessary barriers in making the homexof low-income and elderly citizens more energy-efficient, and shredc the red tape that too often stands betweenm government assistance and the people it is meant to Vice President Joe Biden “In the process, we’ll not only brinvg down energy costs, but also create new greenj jobs that will be the foundatiobn of our economic recovery.
” Constructioh companies that have received contracts for projecte funded by the economic stimulus bill are beginninvg to hire new workers or rehirer laid-off employees, according to . “Early reports indicated that the infrastructure piecr of the stimulus is beginning to do exactly whatwas intended, put construction workers back on the said AGC Chief Economist Ken Simonson. Other contractorzs are canceling planned layoffsd becauseof stimulus-funded contracts, Simonson said. For many stimulus projects are keeping a bad business environment fromgetting worse, he said. The number of constructionh jobs declinedby 110,000 in according to the Bureau of Labor Statistics.
Withoutt stimulus-funded projects, that number woulxd have been much worse, Simonsojn said. Overall, nonfarm payroll employment fellby 539,0090 jobs in April, the smallesty decline in six months. This couldr be a sign that the economy is beginninfgto stabilize, which “is consistent with the notion that demand for new constructiojn will begin to emerge lateer this year and into 2010,” said Anirban chief economist for Associated Builders and “The stimulus package represents an importantt element in that formula,” Basu said.
“With the broaded economy beginning to recover even before the stimulusx package has had amajor impact, the implication is that bettee times are ahead.” Energy to award $787 million for biofuels R&D The Department of Energyt plans to use $787 milliohn in economic stimulus funds for biorefinery demonstratiob projects, and advanced biofuels researcuh and development. The department will award $480 million for pilot- and demonstration-scalse biorefineries that produceadvanced biofuels, and heat and power in an integrated system. Theser projects will facilitate the development of an advancef biofuels industry to helpthe U.S.
reduce its dependencee on petroleum-based transportation fuels, according to the Departmenft of Energy.
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