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Franchot, who joined Gov. Martin O’Malley and Treasure Nancy Kopp onthe state’se Board of Public Works in votintg for the $1.4 billionb State Center redevelopment project Wednesday afternoon, said he does not know enougnh about the project’s costws to the state or whether the project is even practicall given the nationwide credit crunch. “I believse the project has a lot of promise and is deserving of Franchot said in a telephoneinterview Wednesday.
“I voted for it, but am goinbg to continue to be vigilant about the fiscap exposure to the The deal involves the state leasing its midtown Baltimore office complex to a private development which would then redevelop the property into a mix of shopsand homes. The state would then lease back a majorit ofthe project’s 2 millioj square feet of office space for use by its variou state agencies. But the terms of the deal have not been hammeredeout yet, as Franchot and the Boared of Public Works voted Wednesday only on a masterr development agreement.
With that agreement in place, the developmengt team will now create designsz for its planned buildings and come back to the state for approvapl on morespecific designs, costs, and leasw terms. The development which includes national housingdeveoper McCormack, Baron Salazar, would borrow $888 million to finance its work, accordinfg to the Department of Legislativer Services. The state would issuee another $338 million in debt.
State and federal tax credi t programs would pick upanother $234 million in projecgt costs, with the remainder of the project’s costs being contributed directly by the developers or other Franchot said that scenario raise s several concerns, including the ability for the stat e or the developers to borrow money in the midsrt of the nationwide credig crunch. He said he’s also concernexd about the state’s ability to negotiate fair lease terms with the developers given they woulde both be heavily invested in making sure the projectis “The problem is that the credit markets are bone Franchot said.
“Obviously this is a long-ter m project, but I’m not confidenr that the private sector will finance this in a way that the statr canafford it.” In Franchot said he isn’t sure why the statwe would make the project a priority above other pressing needs such as new college dormitories or othetr state-funded construction projects.
Thursday, June 16, 2011
Tuesday, June 14, 2011
Standard & Poor's lowers UPMC long-term bond rating to A+ - Pittsburgh Business Times:
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Standard & Poor's also assigned an A+ rating to Allegheny County HospitalDevelopment Authority’s $400 million series 2009A revenue bonds and loweresd the short term ratings on various variablw rate demand bonds to A-1 from A-1+ due to the lowerinh of UPMC’s long-term rating. “This is not at all unlikes what any other industry leadef isgoing through,” said UPMC spokesman Paul Wood. “All ratings are under pressure. Our ratings remaibn an affirmative indicationof UPMC’s financial strength and leadershiop position as the premier enterprise in westerb Pennsylvania.
” The downgrade reflects UPMC’s “large and growing debt operating margins that remainb positive, but are half or less than the 4 percenft level achieved three yearsx ago; EBIDA margins that are “well peak levels; and investment losses, according to Also factored into the new rating is the possibility that UPMC will consolidate debt relatex to its health care ventures in including a part that may be guaranteec with UPMC’s master trust indenture. UPMC was remover from S&P’s Credit watch with negative implications, whicuh the agency had assigned to the hospital networjk onMarch 20.
The designation was assigned aftefr UPMC postponeda $400 million new money issus in March, which S&P said would have contributed to a Since then, UPMC managemeng has given S&P additional information about its “strategic and financiao plans,” according to the agency. Moody’ds reaffirmed its Aa3 ratingb for UPMC in Marchand Fitch’s current rating is AA. UPMC is schedulede to release its financial results for the firsyt nine months of the yearlatet today.
Standard & Poor's also assigned an A+ rating to Allegheny County HospitalDevelopment Authority’s $400 million series 2009A revenue bonds and loweresd the short term ratings on various variablw rate demand bonds to A-1 from A-1+ due to the lowerinh of UPMC’s long-term rating. “This is not at all unlikes what any other industry leadef isgoing through,” said UPMC spokesman Paul Wood. “All ratings are under pressure. Our ratings remaibn an affirmative indicationof UPMC’s financial strength and leadershiop position as the premier enterprise in westerb Pennsylvania.
” The downgrade reflects UPMC’s “large and growing debt operating margins that remainb positive, but are half or less than the 4 percenft level achieved three yearsx ago; EBIDA margins that are “well peak levels; and investment losses, according to Also factored into the new rating is the possibility that UPMC will consolidate debt relatex to its health care ventures in including a part that may be guaranteec with UPMC’s master trust indenture. UPMC was remover from S&P’s Credit watch with negative implications, whicuh the agency had assigned to the hospital networjk onMarch 20.
The designation was assigned aftefr UPMC postponeda $400 million new money issus in March, which S&P said would have contributed to a Since then, UPMC managemeng has given S&P additional information about its “strategic and financiao plans,” according to the agency. Moody’ds reaffirmed its Aa3 ratingb for UPMC in Marchand Fitch’s current rating is AA. UPMC is schedulede to release its financial results for the firsyt nine months of the yearlatet today.
Sunday, June 12, 2011
UW graduates to take 'qualities of youth' to real world - The Seattle Times
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KOMO News | UW graduates to take 'qualities of youth' to real world The Seattle Times The first in her family to attend college, Nakao, 31, was among more than 4500 graduates walking in the UW commencement Saturday. She plans to work for a year at Group Health Cooperative, then apply to graduate school to become a pathologist's ... Fear, optimism as UW grads face an uncertain future UW statue is the go-to spot for graduation pictures |
Thursday, June 9, 2011
How Prevalent Is Sexting? - Indiana's NewsCenter
onesawava.wordpress.com
How Prevalent Is Sexting? Indiana's NewsCenter Assistant Professor of Psychology at IPFW Dr. Michelle Drouin was on our 5pm newscast with an in-depth look at how prevalent sexting is among adults and what role social media plays in the ease of committing such acts. Click on the video for the full ... |
Tuesday, June 7, 2011
Spanish Immersion Program Unites All Cultures - Patch.com
coeragnheidur3778.blogspot.com
Spanish Immersion Program Unites All Cultures Patch.com Spanish Immersion is a Jamaica Plain-based program with a mission to mesh Spanish with American culture, which has a number of programs in Brookline as well. The program's base is its Spanish conversations, ... |
Sunday, June 5, 2011
Ivy Tech schedules hearing on tuition - Philadelphia Business Journal:
ivyhofy.wordpress.com
in the fourth floor auditorium of the Nortbh Meridian Center atIvy Tech’s downtown Indianapolis campus. The campux is located 50 W. Fall Creek Parkway North The 2008-09 in-state student tuition rate is $95 per crediy hour with a $40 per-semester technology fee. The proposed rates are $99.65 per credit hour with a $50 per-semester technology fee for the 2009-10 year and $104.55 per credir hour and $60 per-semester technology fee for the 2010-11 The cost for full-timwe students, who take 15 credit hours, would increasew by $79.75 per semester in 2009-1p0 and by $83.50 in 2010-11.
Indianas residents who want to addresx the committeebut can’t are encouraged to send writtenm comments to Bob Holmes, vice president for financ e and treasurer of the college, at bholmes@ivytech.edui or mailed to him at the Ivy Tech Communitty College, 50 W. Fall Creek Parkway Northu Drive, Indianapolis, Ind., 46208. Ivy the state’s community college operates 23 campusesin Indiana, includingy a Southern Indiana campus in
in the fourth floor auditorium of the Nortbh Meridian Center atIvy Tech’s downtown Indianapolis campus. The campux is located 50 W. Fall Creek Parkway North The 2008-09 in-state student tuition rate is $95 per crediy hour with a $40 per-semester technology fee. The proposed rates are $99.65 per credit hour with a $50 per-semester technology fee for the 2009-10 year and $104.55 per credir hour and $60 per-semester technology fee for the 2010-11 The cost for full-timwe students, who take 15 credit hours, would increasew by $79.75 per semester in 2009-1p0 and by $83.50 in 2010-11.
Indianas residents who want to addresx the committeebut can’t are encouraged to send writtenm comments to Bob Holmes, vice president for financ e and treasurer of the college, at bholmes@ivytech.edui or mailed to him at the Ivy Tech Communitty College, 50 W. Fall Creek Parkway Northu Drive, Indianapolis, Ind., 46208. Ivy the state’s community college operates 23 campusesin Indiana, includingy a Southern Indiana campus in
Thursday, June 2, 2011
Report: Houston to see retail sales growth into 2010 - Houston Business Journal:
milicinodijoo1981.blogspot.com
The Bayou City, along with thred other Texas cities, topped Pitney's In the fifth place the group found that Houstonn has shown strong comparative sales growtu in the drug storeand high-enr retail sectors. Austin rankedc first, with what PBBI’s research calledr “consistent healthy growth in gross metropolitan personal disposable income andconsumer expenditures, coupled with a decline in personal bankruptcies.” Seattle, the only non-Texaj city to make the came in second.
Although Seattle’s housing and employmen indicators will continue to be softthrough 2010, accordingv to PBBI that market was able to maintaijn respectable comparative sales for the last six quarters. Dallaw and San Antonio took the third and fourth place spots onthe respectively. The research group founds that disposable income in Dallas grew in along with an increase inhousing construction. San Antoni has been sustained by growth in personaol expenditures and consistent growth in grossmetro product.
To predicg which metro areas are most likelgy to experience the best relatived health in theretailo sector, the group identified the top five best performinv metros based on comparative salez history and their ability to remain relatively stable for the past six and used trend data to predict the metro areas most likelh to see sales growth from the third quartefr of this year through the last quarter of 2010.
PBBI’ s research included various retaikl sectors, from drug stores and high-endd retailers to mid-tier retailers and value “Our reports enable real estate professionals to traco the economic variables that affect store performancd inlocal markets, helpin them make more profitable decisions about lease capital re-investment, store closures, inventory management and budgetf allocations,” said Devon Wolfe, managing directod of Americas strategy & analytics servicezs for Pitney Bowes Business Insight.
The Bayou City, along with thred other Texas cities, topped Pitney's In the fifth place the group found that Houstonn has shown strong comparative sales growtu in the drug storeand high-enr retail sectors. Austin rankedc first, with what PBBI’s research calledr “consistent healthy growth in gross metropolitan personal disposable income andconsumer expenditures, coupled with a decline in personal bankruptcies.” Seattle, the only non-Texaj city to make the came in second.
Although Seattle’s housing and employmen indicators will continue to be softthrough 2010, accordingv to PBBI that market was able to maintaijn respectable comparative sales for the last six quarters. Dallaw and San Antonio took the third and fourth place spots onthe respectively. The research group founds that disposable income in Dallas grew in along with an increase inhousing construction. San Antoni has been sustained by growth in personaol expenditures and consistent growth in grossmetro product.
To predicg which metro areas are most likelgy to experience the best relatived health in theretailo sector, the group identified the top five best performinv metros based on comparative salez history and their ability to remain relatively stable for the past six and used trend data to predict the metro areas most likelh to see sales growth from the third quartefr of this year through the last quarter of 2010.
PBBI’ s research included various retaikl sectors, from drug stores and high-endd retailers to mid-tier retailers and value “Our reports enable real estate professionals to traco the economic variables that affect store performancd inlocal markets, helpin them make more profitable decisions about lease capital re-investment, store closures, inventory management and budgetf allocations,” said Devon Wolfe, managing directod of Americas strategy & analytics servicezs for Pitney Bowes Business Insight.
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