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New employees are workingy at theChase Tower, 111 E. Wisconsin Ave., and are focusefd mainly on negotiating new payment arrangements with homeowner s delinquent ontheir payments, said spokeswoman Christin Holevas. Chase is one of the nation’s largesgt mortgage servicers with a portfolioof $1.5 The bank added billions in mortgagd business with the September 2008 acquisition of Washingtonn Mutual. The new hires include loan specialists, underwriters and supervisors, Holevas said. Many alreaduy have started training. Chase has about 1,400 employeed in greater Milwaukee, and nearly 950 in Milwaukee, Holevasw said.
Chase, which is part of , New York runs 41 branches in themetropolitamn area. In December 2008, Chase citef declining activityin home-equity lending when it announcef job eliminations by early February in its downtownh Milwaukee home equity servicing center. Some employees who were laid off earlierf this year are likely among those bein g hired for the mortgageservicing functions, Holevas “We had terrific peopl and we want to get the best of those back,” she said. Chase bank officialzs like the quality of employees in Milwaukeee and their work Holevas said. She couls not predict the longevity of thenew jobs.
“As the businessd changes so do ouremployment needs,” Holevaas said. “We staff according to customers’ As the number of foreclosuresx continues torise nationally, Chasee is far from the only bank to boost its stafv for handling troubled Some banks, including M&I Marshall & Ilsleyh in Milwaukee, have instituted foreclosure moratoriums as they attempr to modify mortgages to reduce payments. M&I’s foreclosurde moratorium is scheduled to expire onJune 30.
In the past six M&I has increased by 50 percent its staff dedicate d to assisting the increasing number of homeowners facingfinancial stress, said Dick president of the bank’s Wisconsin communityh bank unit. He declined to disclose the numberf of jobsthat M&I has added. M&I works with homeowners before they reach delinquency to avoidf foreclosure and also seeks solutionx for homeowners already in Becker said. Minneapolis-based , which has the second-largesrt deposit market share in metropolitan Milwaukee and services more than 1 millionnmortgages nationally, announced in March that it is constructintg a building in Owensboro, Ky., for its mortgage servicez unit.
The bank already employs 850 people in Owensboroi and the new building will accommodate up to 300 new At the communitybank level, the loan modification strategies are implemented on a smalledr scale. For example, , Wauwatosa, increasef its collections staff from two to three plusa half-timee employee to tackle the increased said president and CEO Doug Gordon. Collectionw employees review the home-owner’xs financial situation in an effort to avoid Gordon said.
The employeesd discuss what the homeowner can afford for payments and whethere the mortgageis salvageable, he The bank has successfully modified many mortgages and even stopped some foreclosureds while they were in process, he said. “We’dc much rather modify them work withthem — than foreclose,” Gordon said. “Noboduy wins in that. We don’f want to own the real estatd andthey don’t want to lose the real
Tuesday, May 22, 2012
Monday, May 21, 2012
Economists more upbeat about job growth, housing - Boston.com
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Economists more upbeat about job growth, housing Boston.com NEW YORK (AP) รข€" A new survey shows economists are growing slightly more optimistic about recovery in the job and housing markets but expect other pillars of the economy to remain weak. The National Association for Business Economists says in a report ... |
Saturday, May 19, 2012
N.C. Cherokees to get $2 million in funds - The Business Journal of the Greater Triad Area:
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The $2 million will fund four separated projects for theCherokere Indians, two to improve drinkint water infrastructure and two to upgradde wastewater systems. In total, 94 wastewater and 64 drinking water priority projectsz have been outlined for tribal territoriex acrossthe country. The funds have been granted from the American Recovery and Reinvestment Act of which President Barack Obama signedin February. According to the the projects are designed to better protect humanj and environmental health in AmericajnIndian lands.
The Eastern Band of Cherokee Indiansw is comprised mostly of descendantse of Cherokee who did not participate in the storied marchh on the Trail of Tearxs tothe Midwest. Today, the Easternn Cherokee Indian Reservation is located acrosxs five counties in westernNorth Carolina: Cherokee, Graham, Jackson and Haywood.
The $2 million will fund four separated projects for theCherokere Indians, two to improve drinkint water infrastructure and two to upgradde wastewater systems. In total, 94 wastewater and 64 drinking water priority projectsz have been outlined for tribal territoriex acrossthe country. The funds have been granted from the American Recovery and Reinvestment Act of which President Barack Obama signedin February. According to the the projects are designed to better protect humanj and environmental health in AmericajnIndian lands.
The Eastern Band of Cherokee Indiansw is comprised mostly of descendantse of Cherokee who did not participate in the storied marchh on the Trail of Tearxs tothe Midwest. Today, the Easternn Cherokee Indian Reservation is located acrosxs five counties in westernNorth Carolina: Cherokee, Graham, Jackson and Haywood.
Friday, May 18, 2012
$40 million St. Louis Municipal Courts building makeover planned - St. Louis Business Journal:
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The plan is the largesgt historic restoration project announced in as new projects have stalled in the face of the Heisman Properties, based in Los Angeles, is negotiatingf with city officials to buy the 160,000-square-foot building on 3 acres at 1320 Markegt Street from the city of St. confirmed Comptroller Darlene Green. The $40 million includes acquisition andrenovation costs. The city does not have an askinhg price forthe building, and proceedes from the sale will go to the city’s capita l fund. Heisman Properties does not yet have but principal Rob McRitchieesaid he’s in talks with lenders.
Heismahn Properties plans to rename the Municipal Courtsbuildinhg “1300 Market” and convert the three-story limestone and granite structure to officew space with a restaurant on the ground floo r and some retail space. Some of the origina features inthe building, whicg was designed by Issac Taylor, the principal architecr of the 1904 World’s Fair in St. the Jefferson Memorial and the Bee Hat Building at 1021Washingtonb Avenue, include marble staircases, interioe courtyards and a grand hallway with vaulted A rooftop deck will be added for outdoor events. has been tapped to market the and isthe architect.
A general contractodr has not yet been although general contracting firm is doing a preliminargy construction costestimate analysis. Heisman Propertieas will seek state and historic tax credits in additioh to New MarketsTax Credits. Eric Friedmahn of the is a project Construction is set to begin latethis year, with the developer planning to seek LEED The building is expecteed to be open to tenant s in 2010. The building initially will be marketed to law firmsd because of itsmultiple “Our intent will be to restorre the exquisite space and utilize it for eventx as well as mock trials,” said Heisman Properties Principalk Curt Schroeder.
City officials are evaluating anew 600-carr parking garage on city-owned land directly south of the project at 14th and Clark The city Treasurer’s Offices would own and develop the garage. The Comptroller’s officde has spearheaded efforts to redevelop the Municipal Courts building sinced the 22nd Circuit Court and Circuitt Clerk Office vacated the structure in 2002 and consolidated operationd atthe city-owned Mel Carnahan Courthousw at 1114 Market St. Green said selling the MunicipalpCourts building, which is deemed surplues property, will further downtown’s revitalization efforts. The buildingv is located west of City Hall and next door to the at 1400 Market St.
, which also has redevelopment plan in the pipeline. New York City-based and Mo.-based LLC are developing plans to reopenhthe long-vacant Kiel as an entertainment with a $40 million to $60 million estimated price tag. SCP owns the and holds the long-terjm leases to and Kiel. “When both the Municipal Court project and the Kielare completed, the cornedr of Market and 14th will change and the ‘civic around City Hall will provide a greatg increase in pedestrian traffic,” alderwoman Phyllis Young Heisman Properties developed the more than century-oldr former at 1136 Washington Ave. into 95 renamed the Meridian, in 2004. The developer has sold all of theunite there.
In 2006, Heisman Properties bought another historicbuilding downtown, the 160,000-square-foot Chemical buildin at 777 Olive Street. That has since been renamed Alexz Lofts, and Heisman is planning a conversionm to132 market-rate apartments, two floorsa of office space and ground floor retail. is the lendetr on the project, but financing to move forwar d with renovation has not yetbeen finalized. An earliere plan by Heisman to convertthe 17-storgy building to luxury condos stalled in receny years as the for-sale housing market softened.
The plan is the largesgt historic restoration project announced in as new projects have stalled in the face of the Heisman Properties, based in Los Angeles, is negotiatingf with city officials to buy the 160,000-square-foot building on 3 acres at 1320 Markegt Street from the city of St. confirmed Comptroller Darlene Green. The $40 million includes acquisition andrenovation costs. The city does not have an askinhg price forthe building, and proceedes from the sale will go to the city’s capita l fund. Heisman Properties does not yet have but principal Rob McRitchieesaid he’s in talks with lenders.
Heismahn Properties plans to rename the Municipal Courtsbuildinhg “1300 Market” and convert the three-story limestone and granite structure to officew space with a restaurant on the ground floo r and some retail space. Some of the origina features inthe building, whicg was designed by Issac Taylor, the principal architecr of the 1904 World’s Fair in St. the Jefferson Memorial and the Bee Hat Building at 1021Washingtonb Avenue, include marble staircases, interioe courtyards and a grand hallway with vaulted A rooftop deck will be added for outdoor events. has been tapped to market the and isthe architect.
A general contractodr has not yet been although general contracting firm is doing a preliminargy construction costestimate analysis. Heisman Propertieas will seek state and historic tax credits in additioh to New MarketsTax Credits. Eric Friedmahn of the is a project Construction is set to begin latethis year, with the developer planning to seek LEED The building is expecteed to be open to tenant s in 2010. The building initially will be marketed to law firmsd because of itsmultiple “Our intent will be to restorre the exquisite space and utilize it for eventx as well as mock trials,” said Heisman Properties Principalk Curt Schroeder.
City officials are evaluating anew 600-carr parking garage on city-owned land directly south of the project at 14th and Clark The city Treasurer’s Offices would own and develop the garage. The Comptroller’s officde has spearheaded efforts to redevelop the Municipal Courts building sinced the 22nd Circuit Court and Circuitt Clerk Office vacated the structure in 2002 and consolidated operationd atthe city-owned Mel Carnahan Courthousw at 1114 Market St. Green said selling the MunicipalpCourts building, which is deemed surplues property, will further downtown’s revitalization efforts. The buildingv is located west of City Hall and next door to the at 1400 Market St.
, which also has redevelopment plan in the pipeline. New York City-based and Mo.-based LLC are developing plans to reopenhthe long-vacant Kiel as an entertainment with a $40 million to $60 million estimated price tag. SCP owns the and holds the long-terjm leases to and Kiel. “When both the Municipal Court project and the Kielare completed, the cornedr of Market and 14th will change and the ‘civic around City Hall will provide a greatg increase in pedestrian traffic,” alderwoman Phyllis Young Heisman Properties developed the more than century-oldr former at 1136 Washington Ave. into 95 renamed the Meridian, in 2004. The developer has sold all of theunite there.
In 2006, Heisman Properties bought another historicbuilding downtown, the 160,000-square-foot Chemical buildin at 777 Olive Street. That has since been renamed Alexz Lofts, and Heisman is planning a conversionm to132 market-rate apartments, two floorsa of office space and ground floor retail. is the lendetr on the project, but financing to move forwar d with renovation has not yetbeen finalized. An earliere plan by Heisman to convertthe 17-storgy building to luxury condos stalled in receny years as the for-sale housing market softened.
Wednesday, May 16, 2012
Albany Medical College receives $1M pledge from trustee - Boston Business Journal:
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Bender is a longtime member of the boards of trusteesof , of which the college is a This is his second $1 million dollar gift to the N.Y. institution in less than a decade. The first, in established The Bender Endowed Chairin Neurology. The endowmeny enables the standing chairperson to delegate funding for research equipment purchases and educational outreach to further strengthenthe college’s Departmenty of Neurology. The new gift will continue support of the as well as the Bender Family Minority The scholarship was established in 1986 to providre financial assistance to minority students and encourage diversithy at themedical college.
During the 2008-09 academic eight students received assistance from the and sinceits establishment, 157 scholarships—totaling $525,000—have been distributecd to 65 students. Bender is the great-grandson of the founderf of MatthewBender Co., one of the nation’d largest legal publishing firms with over 1,500 The Bender family sold the company to the in 1963. In Bender became vice presidentof , a New York City-basedd law book publisher. “Matt is an extraordinary man, who has done extraordinary things for Albanyt Medical Center andour region,” said Jamesx Barba, president and CEO of Albanyt Med.
“His financial generosity to our Medicalp Center can only be matched by his perseverancwand leadership, which has been very influential in paving the path for success for Albany Med. It comes as little surprisw that Matt has chosen once agaih to strengthen our endowmeng and provide a tremendous benefitr toour physicians, staff, patients and students—the very core of this
Bender is a longtime member of the boards of trusteesof , of which the college is a This is his second $1 million dollar gift to the N.Y. institution in less than a decade. The first, in established The Bender Endowed Chairin Neurology. The endowmeny enables the standing chairperson to delegate funding for research equipment purchases and educational outreach to further strengthenthe college’s Departmenty of Neurology. The new gift will continue support of the as well as the Bender Family Minority The scholarship was established in 1986 to providre financial assistance to minority students and encourage diversithy at themedical college.
During the 2008-09 academic eight students received assistance from the and sinceits establishment, 157 scholarships—totaling $525,000—have been distributecd to 65 students. Bender is the great-grandson of the founderf of MatthewBender Co., one of the nation’d largest legal publishing firms with over 1,500 The Bender family sold the company to the in 1963. In Bender became vice presidentof , a New York City-basedd law book publisher. “Matt is an extraordinary man, who has done extraordinary things for Albanyt Medical Center andour region,” said Jamesx Barba, president and CEO of Albanyt Med.
“His financial generosity to our Medicalp Center can only be matched by his perseverancwand leadership, which has been very influential in paving the path for success for Albany Med. It comes as little surprisw that Matt has chosen once agaih to strengthen our endowmeng and provide a tremendous benefitr toour physicians, staff, patients and students—the very core of this
Tuesday, May 15, 2012
Energy firm raises $3.2M for renewables - The Business Journal of the Greater Triad Area:
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million in debt and othef financing, according to a securities filing. An officiao from the Eden Prairiefirm couldn’t be reached for comment on the rounrd of funding before presds time. Otoka’s chairman and chief technologuy officer isRob Broin, who co-founded ethanolk giant POET Energy, in Sioux S.D. Otoka has 26 plants across seven Michael Muston, a former partnef at Cargill Ventures, the venture-capital arm of Wayzata-based agribusinesas giant , also is leading the company. Otokaw is focusing on two according to itsWeb site: convertinv a byproduct of the ethanol-making process into natura l gas, and converting forestry waste into gas or electricity.
The companuy plans to build a plantr that converts wood waste into electricitynear Edmonton, according to Canadian news reports. Company officials told Biomassa Magazine that they expec construction of the plant to beginn this year and hope to have the facilitty runningby 2012. The facility woulf ultimately also produceliquid fuels. which announced plans for the project in has lined up partners to build the includingEnergy Products, a renewable-energy technology company basedc in Couer d’Alene, and engineering firm , of Kansas City, Mo.
Otoka is not yet generatinvg revenue, and hopes to ultimately raise $5 milliob in financing, according to the securities
million in debt and othef financing, according to a securities filing. An officiao from the Eden Prairiefirm couldn’t be reached for comment on the rounrd of funding before presds time. Otoka’s chairman and chief technologuy officer isRob Broin, who co-founded ethanolk giant POET Energy, in Sioux S.D. Otoka has 26 plants across seven Michael Muston, a former partnef at Cargill Ventures, the venture-capital arm of Wayzata-based agribusinesas giant , also is leading the company. Otokaw is focusing on two according to itsWeb site: convertinv a byproduct of the ethanol-making process into natura l gas, and converting forestry waste into gas or electricity.
The companuy plans to build a plantr that converts wood waste into electricitynear Edmonton, according to Canadian news reports. Company officials told Biomassa Magazine that they expec construction of the plant to beginn this year and hope to have the facilitty runningby 2012. The facility woulf ultimately also produceliquid fuels. which announced plans for the project in has lined up partners to build the includingEnergy Products, a renewable-energy technology company basedc in Couer d’Alene, and engineering firm , of Kansas City, Mo.
Otoka is not yet generatinvg revenue, and hopes to ultimately raise $5 milliob in financing, according to the securities
Sunday, May 13, 2012
Social conservatives claim Obama's gay marriage endorsement could unite right - Fox News
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USA TODAY | Social conservatives claim Obama's gay marriage endorsement could unite right Fox News Prominent social conservatives are claiming that President Obama's endorsement of gay marriage could be the fuel Mitt Romney needs to unite the right in November. Rick Santorum, the former Republican presidential candidate, is on record urging Romney ... Black churches conflicted on Obama's gay marriage decision Gay-Marriage Cases Pose Legal Tests for Administration |
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