paramonaxogilozi.blogspot.com
It’s the probability of more land coming onlins inan already-saturated real estate market that has brokerws most concerned. The reason: With each dealership averagingt about9 acres, an estimatec 30,000 acres could be dumped on the market nationwid over the next two years if the 3,43 0 dealers liquidate their assets, real estatew sources said. Locally, dealershipl land currently listed rangesfrom $468,933 to $593,065 per acre. “Debt will need to be addressed and mortgagess paid off as part ofthe disposition,” said attornety Steve Snively, a partner in the firm’es Orlando office who is not involved in any deals related to the two automakers.
“Ad it all winds down, all thosd could have something to do with issue of dealing with paymentof creditors.” Auburn Hills, Mich.-based Chrysler, which filed for Chapter 11 bankruptcy protectioh April 30, plans to trim seven Central Floridq dealerships and 789 nationwide by June 9. Detroit-base GM, which filed for Chapter 11 bankruptcy onJune 1, plans to cut its dealershipo ranks from 6,246 to 3,604 by October 2010, according to a document posted on its Web Although GM didn’t make public a list of the longtime Central Florida mainstays and are among thosr slated to stop selling new media reports said.
Roger Holler III, vice president of the , said in a statementt that the company will continue tosell Chevrolets, issue warrantiew and provide service. “We’ve been here for more than 70 yeardsand we’ll be here for another 70 years,” he said in the Local real estate experts believe the family will find other uses for the two “Some of this is really trophy said Bill Parke, director of industrial services for Colliera Arnold Commercial in Orlando, who also specializes in auto “The Holler people have a real eye for real The Holler-Classic group has another six Central Floridqa dealerships with the Audi, Hummer, Mazda and Hyundai brands, as well as two Hondz dealerships.
Some dealers already have plans in place tocontinue operating. For , a Chrysler dealer slated to stop sellinv new Jeep vehicles this will continue pushing its Suzuki brand alonfwith pre-owned vehicles. General Manager Buddy Vickers — whosr father, Jimmie Vickers, started the dealership in the1970se — said the family also will keep theirt service department active. “The most bitter part to this wholer thing isthat we’ve been a Jeep dealer for a long he said. “We’ve reallhy been loyal to the AndAlan Starling, who owns Chevrolett dealerships in DeLand and St.
Cloud not on the trim said he expects to go forward with plans to buy a thircd undisclosed Chevrolet dealership once all the bankruptcgy falloutis over. In April, Starlingb sold a Chrysler dealershipfor $5.6 million to the Osceolza County Sherriff’s Office. He had resigned his franchise agreemengt with Chryslerin February, he said. “GM has always said at leasgt 50 percent of their sale are made up fromChevrolet sales,” he “That’s probably the brand that will survive.” Starling said the future of his vacant Saturn dealershipp in Panama City is unknown.
GM want to sell the “They haven’t been very but I think they know there’e a problem,” he said. Starling said he has receiverd four calls from competing automakersx interested in having him sign on for one of their brandsz inthat space. The real estated expected to come online may create other opportunitiesfor brokers. For Colliers formed , a national group that includes an Orlando operatiob to marketauto lots. CB Richard Ellisa created a national , and the Orlando offics plans to name someone to headlocall efforts. Auto dealerships are typicallgy prime realestate sites, with great access, visibility, good signage rightz and property well-suited to brokers said.
“In the long-term, these tracts will be more Snively said. “It’s easier to redevelop it than if we had an existintshopping center.”
Sunday, June 10, 2012
Friday, June 8, 2012
5 questions for: Brad Bohn, Realty Executives - Washington Business Journal:
iwibacibem.wordpress.com
, Scottsdale Are you seeint any glimmers of hope in thehousiny market? “I think there are definitelt some positive trends in the market. There are close to 30,000 single-family dwellings listex in metro Phoenix, compared with around 50,000p homes listed just over a year ago. The reduced inventory is a direcyt result of increasedbuying activity. With 16,000 homesw pending sale, I believe buyers are taking advantagw of lowinterest rates, first-time home-buyer tax creditsx and great values.” Are any submarkets doing better, recoverinf somewhat or at least not showing as much weakness??
“The foreclosure market continues to show a lot of activity, as banksx are aggressively pricing these properties. In the past few I’ve seen many instances where multiple offerxs are made on a foreclosed home as soon as it hits the Are you seeing any help for the Phoenix market from thefederal government’sw mortgage modification/refinancing plans? “I’m not seeinb a huge impact in the Phoenix market.
The main issuee is that the plan addresses loans where the new first mortgage would not exceedd 105 percent of the current market value of the Inthis market, many homeowners find themselves in propertiesx where values have dropped far below the amoun that was originally mortgaged, makingf them ineligible for the plan.” Which submarketd are struggling the most? “Higher-end homes continue to be a somewha more difficult sale, because buyers oftenh require large loans. Fewedr and fewer financing options for these larger amounts are availablethese days. In addition, many high-endf sales were previously madeto out-of-state buyeras who were purchasing second homes.
The curreng state of the economy has likely had an negativr impact on these typeaof purchases.” How long do you thino it will take the Phoenix housing markeft to recover? “We are already seeing recoveryg when it comes to inventory. For the priceds to recover, it’s important that foreclosures are no longe flooding the market and driving down When thiswill happen, I’m not sure.
”
, Scottsdale Are you seeint any glimmers of hope in thehousiny market? “I think there are definitelt some positive trends in the market. There are close to 30,000 single-family dwellings listex in metro Phoenix, compared with around 50,000p homes listed just over a year ago. The reduced inventory is a direcyt result of increasedbuying activity. With 16,000 homesw pending sale, I believe buyers are taking advantagw of lowinterest rates, first-time home-buyer tax creditsx and great values.” Are any submarkets doing better, recoverinf somewhat or at least not showing as much weakness??
“The foreclosure market continues to show a lot of activity, as banksx are aggressively pricing these properties. In the past few I’ve seen many instances where multiple offerxs are made on a foreclosed home as soon as it hits the Are you seeing any help for the Phoenix market from thefederal government’sw mortgage modification/refinancing plans? “I’m not seeinb a huge impact in the Phoenix market.
The main issuee is that the plan addresses loans where the new first mortgage would not exceedd 105 percent of the current market value of the Inthis market, many homeowners find themselves in propertiesx where values have dropped far below the amoun that was originally mortgaged, makingf them ineligible for the plan.” Which submarketd are struggling the most? “Higher-end homes continue to be a somewha more difficult sale, because buyers oftenh require large loans. Fewedr and fewer financing options for these larger amounts are availablethese days. In addition, many high-endf sales were previously madeto out-of-state buyeras who were purchasing second homes.
The curreng state of the economy has likely had an negativr impact on these typeaof purchases.” How long do you thino it will take the Phoenix housing markeft to recover? “We are already seeing recoveryg when it comes to inventory. For the priceds to recover, it’s important that foreclosures are no longe flooding the market and driving down When thiswill happen, I’m not sure.
”
Thursday, June 7, 2012
Economists: U.S., China will lead global recovery - The Business Journal of Milwaukee:
iqukikofor.wordpress.com
The report, issued Tuesday by economistzs Nariman Behravesh andSara Johnson, suggests that the pace of economivc decline experienced since late 2007 is expectede to moderate through the summere as the federal government’s fiscal stimulus programs take effect, sparking upturns in consumefr spending and home building by year-end. “With 23 percen of world gross domestic product and 29 percentf ofconsumer spending, the United States will be pivotalk in leading the global economy out of The good news is that it will be one of the firs countries to recover,” the report said.
The repory points to four developments that have contributed to the accelerates pace towardglobal recovery: The drop in energg and other commodity prices has helped economies that imporrt those commodities; U.S. and European financial rescues packages are beginning to thaw financial massive and unorthodox monetary stimulus hasbrought short-terk interest rates close to zero; and fiscalo policy has become more stimulative. These the report said, will be the catalysts for the releasewof pent-up consumer demand. Stimulus programs will help the U.S. and China set the pace for the rest of the worlxd when GDP growth begins to acceleraterin 2010, the report said.
On the other hand, Wester Europe will suffer through two years ofnegativd growth, while Japan will experienced the deepest recession, with a 6.7 percent decline in real GDP this The report predicts that U.S. GDP, set to decline by 3.5 percentg this year, will rebound into positive growthof 1.4 percent in 2010 and accelerate quicklt to 4 percent growth by 2012. The Chines e GDP — the only region of the worlcd in positive territory thisyear — will grow by 7.7 percent in 2010 and 9.2 percent in 2011.
The report, issued Tuesday by economistzs Nariman Behravesh andSara Johnson, suggests that the pace of economivc decline experienced since late 2007 is expectede to moderate through the summere as the federal government’s fiscal stimulus programs take effect, sparking upturns in consumefr spending and home building by year-end. “With 23 percen of world gross domestic product and 29 percentf ofconsumer spending, the United States will be pivotalk in leading the global economy out of The good news is that it will be one of the firs countries to recover,” the report said.
The repory points to four developments that have contributed to the accelerates pace towardglobal recovery: The drop in energg and other commodity prices has helped economies that imporrt those commodities; U.S. and European financial rescues packages are beginning to thaw financial massive and unorthodox monetary stimulus hasbrought short-terk interest rates close to zero; and fiscalo policy has become more stimulative. These the report said, will be the catalysts for the releasewof pent-up consumer demand. Stimulus programs will help the U.S. and China set the pace for the rest of the worlxd when GDP growth begins to acceleraterin 2010, the report said.
On the other hand, Wester Europe will suffer through two years ofnegativd growth, while Japan will experienced the deepest recession, with a 6.7 percent decline in real GDP this The report predicts that U.S. GDP, set to decline by 3.5 percentg this year, will rebound into positive growthof 1.4 percent in 2010 and accelerate quicklt to 4 percent growth by 2012. The Chines e GDP — the only region of the worlcd in positive territory thisyear — will grow by 7.7 percent in 2010 and 9.2 percent in 2011.
Tuesday, June 5, 2012
AIA: Nonresidential construction decline to continue into 2010 - Business First of Columbus:
stelauguqdinec.blogspot.com
Commercial projects will experiencer the biggest dropin activity, AIA reported in its semi-annual Consensuzs Construction Forecast, a survey of constructionn forecasters. Retail construction is expected to see the biggest decline inactivity — down 28 percent this year and anothetr 12.6 percent in 2010 — followec by hotel construction with 25.8 percent less activity this year and 16.8 percenyt less next year. Office building activith is expected to bedown 21.5 percent in 2009 and anothed 17.3 percent in 2010. Industrial facility constructiob activity is expected to be down by less than 1 percenrthis year, but will suffer the biggesyt decline — 28.
4 percent — next year, accordin to the report. Institutionalp building is expected to bedown 5.8 percent this year and down 2.5 percentr in 2010. Within the category, public safety construction will see an increasof 1.7 percent this year and 0.7 percent in while health care facility construction will be down 1.5 percen t this year and less than 1 percentg next year. Amusement and recreation constructionh willbe hard-hit, down 20.8 percent in 2009 and another 8.1 percent next year. Religious construction follows with an estimated declineof 10.7 percent this year and 6.7 percentg in 2010. Education construction is expected to bedown 8.
2 percent this year but less than 1 percent in 2010. “While thers are some indications that the overalo economy is beginningto recover, nonresidentiao construction activity typically lags behind the rest of the Kermit Baker, AIA chief economist, said in a news release. “Commercialo facilities such as retail establishments and offices will feel the decline most The institutional market will fare much betterf as stimulus funding becomes available for health care andgovernment
Commercial projects will experiencer the biggest dropin activity, AIA reported in its semi-annual Consensuzs Construction Forecast, a survey of constructionn forecasters. Retail construction is expected to see the biggest decline inactivity — down 28 percent this year and anothetr 12.6 percent in 2010 — followec by hotel construction with 25.8 percent less activity this year and 16.8 percenyt less next year. Office building activith is expected to bedown 21.5 percent in 2009 and anothed 17.3 percent in 2010. Industrial facility constructiob activity is expected to be down by less than 1 percenrthis year, but will suffer the biggesyt decline — 28.
4 percent — next year, accordin to the report. Institutionalp building is expected to bedown 5.8 percent this year and down 2.5 percentr in 2010. Within the category, public safety construction will see an increasof 1.7 percent this year and 0.7 percent in while health care facility construction will be down 1.5 percen t this year and less than 1 percentg next year. Amusement and recreation constructionh willbe hard-hit, down 20.8 percent in 2009 and another 8.1 percent next year. Religious construction follows with an estimated declineof 10.7 percent this year and 6.7 percentg in 2010. Education construction is expected to bedown 8.
2 percent this year but less than 1 percent in 2010. “While thers are some indications that the overalo economy is beginningto recover, nonresidentiao construction activity typically lags behind the rest of the Kermit Baker, AIA chief economist, said in a news release. “Commercialo facilities such as retail establishments and offices will feel the decline most The institutional market will fare much betterf as stimulus funding becomes available for health care andgovernment
Monday, June 4, 2012
Danish Court Finds Four Guilty of Terrorism - Wall Street Journal
sucujovide.wordpress.com
Danish Court Finds Four Guilty of Terrorism Wall Street Journal AP COPENHAGENâ€"Four men were convicted Monday of planning a terrorist attack on a Danish newspaper that published cartoons of the Prophet Muhammad in 2005. The men are Sweden residents of North African and Mideast origin who were arrested in December ... |
Saturday, June 2, 2012
Growth, downturn lead to Axcess Medical Imaging filing bankruptcy - The Business Journal of the Greater Triad Area:
aaekipolo.blogspot.com
Axcess Medical, which owns and operates, or manages, imaginv centers on Florida’s west coast, said in a release that the filinfg would strengthen its financial position and ensured continued operations andfuture growth. The company said it is workiny to complete debtor in possession financinf to support its operations and to help in completinh its strategicrestructuring process. Douglas Badertscher was namec chief restructuring officer to lead the company through thetransition period. locations, includingv seven locations acquiredin April, will continued to operate and conduct business as usual without the company said.
Documentsz filed in for the Middle District of Florida outline a story of rapid growth amid declining reimbursement Axcess Medical, founded by Dr. Stephen Miley and Dr. John began operations in 2001 with a singles facility in Venice and then expanded into Bradenton in 2004 and Sarasotasin 2006. In May 2008, Axcess Medicalo completed a reverse merger into apublic over-the-counter bulletin board shell company and obtainexd a $1 million convertibler note to fund some of its operations and going-publi costs. In April, Axcess Medical closed on the acquisition of sevejn moreMRI centers, aftere agreeing to pay $200,000 in cash and to assume $3.8 milliob in debt, a filing with the said.
The centers are in Bradenton, Pinellas Park, Naples, Port Jacksonville and Titusville. However, Axcess Medical was not sufficiently capitalizedd to withstand the combination of rapidx expansion at the same time revenuerwas declining, the bankruptcy filing Revenue dropped for a combination of the filing said. The federapl Deficit Reduction Act of 2005 negatively impacted Medicare ratexs with commercial insurance contracts tied to Medicarse ratesfollowing suit.
The downturb in the economy caused the volume of scansd to drop at Axceszs Medical and otherimaging Additionally, Axcess Medical has experienced longedr collection cycles, as it has not yet received receivablesz generated after the purchase of the MRI centers in Axcess Medical owes creditors about $16 .1 million and has assetes of $4.4 million. The company had $11 million in revenue last year, but expects its annual revenue to increasew byabout $9.7 million with the acquisitiobn of the MRI centers, the bankruptcy filingt said.
Axcess Medical, which owns and operates, or manages, imaginv centers on Florida’s west coast, said in a release that the filinfg would strengthen its financial position and ensured continued operations andfuture growth. The company said it is workiny to complete debtor in possession financinf to support its operations and to help in completinh its strategicrestructuring process. Douglas Badertscher was namec chief restructuring officer to lead the company through thetransition period. locations, includingv seven locations acquiredin April, will continued to operate and conduct business as usual without the company said.
Documentsz filed in for the Middle District of Florida outline a story of rapid growth amid declining reimbursement Axcess Medical, founded by Dr. Stephen Miley and Dr. John began operations in 2001 with a singles facility in Venice and then expanded into Bradenton in 2004 and Sarasotasin 2006. In May 2008, Axcess Medicalo completed a reverse merger into apublic over-the-counter bulletin board shell company and obtainexd a $1 million convertibler note to fund some of its operations and going-publi costs. In April, Axcess Medical closed on the acquisition of sevejn moreMRI centers, aftere agreeing to pay $200,000 in cash and to assume $3.8 milliob in debt, a filing with the said.
The centers are in Bradenton, Pinellas Park, Naples, Port Jacksonville and Titusville. However, Axcess Medical was not sufficiently capitalizedd to withstand the combination of rapidx expansion at the same time revenuerwas declining, the bankruptcy filing Revenue dropped for a combination of the filing said. The federapl Deficit Reduction Act of 2005 negatively impacted Medicare ratexs with commercial insurance contracts tied to Medicarse ratesfollowing suit.
The downturb in the economy caused the volume of scansd to drop at Axceszs Medical and otherimaging Additionally, Axcess Medical has experienced longedr collection cycles, as it has not yet received receivablesz generated after the purchase of the MRI centers in Axcess Medical owes creditors about $16 .1 million and has assetes of $4.4 million. The company had $11 million in revenue last year, but expects its annual revenue to increasew byabout $9.7 million with the acquisitiobn of the MRI centers, the bankruptcy filingt said.
Friday, June 1, 2012
Business rallies behind Wisconsin governor in recall election - Kansas City Star
yvejodo.wordpress.com
Business rallies behind Wisconsin governor in recall election Kansas City Star By JIM RAGSDALE HARTLAND, Wis. -- Organized labor and liberal activists may have begun the recall of Wisconsin Gov. Scott Walker, but business leaders and conservative groups hope to finish it. A governor whose campaign has centered on tours of ... |
Subscribe to:
Posts (Atom)