Deutsche Bank Fined Over Energy Trading Scheme - Wall Street Journal

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Here Is The City

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Genmar warranties still good - Nashville Business Journal:

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Tracy Carrell says the letter came after boat manufacture r on Monday filed for Chapter 11bankruptcy protection. Genmar owns 15 different brandof boats, which means dealers everywhere are impacted. She says cash customersw for boats at her dealership haveremainedr strong. But trouble financinv in the current economy meanx others have been forced tohold off. “Thr boating business has been affected a lot likecars have,” she The petition to reorganize its debts was filee in U.S. Bankruptcy Courf in Minneapolis — where the company is headquartere — along with more than 20 related Genmar has between 100 and199 creditors.
It listsx its assets in the rageof $10 millioh to $50 million and its liabilities betweeb $100 million and $500 according to court documents. The largest unsecured creditorsare Edelman, Borman, Brand, a Minneapolis-based law firm which is owed Merchant & Gould, a law firm in is owed $155,800. The only secured creditors are and FifthThird Bank, according to a storgy in the Minneapolis Star Tribune. Genmar said it has receivee commitment fora debtor-in-possession (DIP) financing proposal from both banks.
In a Genmar Chairman, CEO and largest shareholder Irwi n Jacobs said sales ofthe company’s fishing luxury yachts and other products started to declinre in 2008, but worsened in recenyt months. The company’s sales in fiscal which ends in June, are likely to be abour $460 million, off by more than 50 percent fromfiscal 2008. “If someonde would have said to me as recentlyt as even one month ago that Genmaer would someday be filing forChapter 11, I would have said it was not even a remotwe possibility,” Jacobs said. Genmar had been makinhg some strategy changes inrecent months, announcing plans to launch a line of less-expensive aluminum A spinoff company, Pa.
-based VEC Technology, and otherd Jacobs-related companies aren’t included in the VEC is now in the business of making giany blades for energy-generating windmills. Law firm Fredrikson Byron in Minneapolis, is representinb Genmar in thebankruptcyu case.

Kendall

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million foreclosure lawsuit against the develope of theRivendell single-family home projectg in West Kendall. The Miami-based bank files the foreclosure action on June 9against Miami-base Crestview II, Marsol One LLC and managinfg member Marcial Solis, according to records. The complaint target s 28 unsold homes and home sitessin Rivendell, which is along Mille Drive (Southwest 56th Street) between Southwes t 167th Avenue and the Miccosukeee Golf and Country Club. Afted starting construction in 2004, Crestviewq II sold 103 homes in Rivendelll from 2005 through the most recent salein January. Fort Lauderdale-basefd attorney Charles Lichtman, who represents TotalBank in its demandefor $12.
2 million on the outstandinb mortgage, did not immediately return a call seekinv comment. TotalBank reported havingg $86.4 million in late or unpaid ornearly 6.5 percent of its total as of March 31. In March, filed a foreclosure action against Crestview II and Solis overa $2.1 milliob mortgage.

Garmin products will offer real-time traffic data - Kansas City Business Journal:

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Navteq, which provides digital map data, said in a Wednesdayt release that Garmin woulduse Navteq’s traffic alert and interactive ad services for the nuvi 2x5 and nuvi 7x5 familieds of navigation devices. Fiancial terms of the deal were not Products with the service should appear in storesin October, Garmim spokeswoman Carly Bates said Thursday. This is the first time a servicd on Garmin products willshow ads, she Previously, users subscribed for a fee to get real-timwe traffic data. Traffic data will be delivered to navigatio n devices throughFM radio, letting drivers avoid traffic accidents, road closurexs and construction.
The units to offer the service come standarde with a traffic receiver that can provide alerts forcoveredx areas, which include major metropolitan Advertising, delivered the same way, would be contextually allowing users to click on ads to view business information and a routre to get there. Ads for nearby businesses will appearr along the bottom of the screen only when the vehiclew has been stopped for at least10 “By providing customers like Garmin an advertising-baser revenue model in conjunction with RDS trafficf data delivery, we believe that more driverxs will have access to the most up-to-date traffic information to better manage their daily John MacLeod, Navteq executive vice president, said in the release.
“Driversd benefit by receiving free traffic while offering advertisers anew location-targetesd environment to engage consumers.” Garmin International is a unit of Olathe-basexd (Nasdaq: GRMN). Navteq is based in Chicago and has morethan 3,800p employees in 42 countries. A call to Navteq wasn’t immediately returned.

Andersen, Tate & Carr gears up for expansion - Atlanta Business Chronicle:

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Not satisfied with that illustriouss history, management at one of Gwinnett’s oldest and most establishedr firms is moving to position it for astrong 2009. Partnerf Pat McDonough, who heads up the firm’s criminalo defense department, said plans call for an expansionnof services. Additionally, Andersen, Tate & Carr P.C. will soon move into One Sugarloavf Centre, a four-story, class A office building being constructede at 1960Satellite Blvd. in Duluth. “Everyone is very excitedr about it,” McDonough said of the move by Tate & Carr P.C., which was founded in 1988 and is one of the largesyt business law firms in Gwinnett County.
“If is a definite step up for Part of the reason for the move is to locatw the firm around the growing business district ofGwinnett County, where it will be near the and the 1818 a private business club where deals are made over lunch and dinner. Additionally, major Gwinnett businessex — and clients — are already in the area and “There was a combination of reasons that broughr aboutthe move. First was expansion purposesx but it was also asynergistic move,” McDonougb said. “It is a one-stop place for moverws and shakers in theGwinnett community.
” This move will allow attorneyd to take a quick elevator ride to meet with some clients, includinf The CEO Bartow Morgan and LLC CEO Wayne one of the area’s major developers. who is a partner with Masoh in the development ofthe 110,000-square-footf office building, said he is happy to have one of Gwinnett’sx biggest law firms nearby. Firm founder Tom Andersen helperd Mason inthe $66 million sale of the northeast sectiojn of the Atlanta Beltlines corridor. Mason bought 180 parcels of land from in which was then purchased by and NE Beltliner LLCin 2007.
Andersen pulled off what he has called the deal of his careerr with only 120 days to close on the sale ofthe “Tom Andersen is my No. 1 lawyer,” Masonb said. “He is the best real estatre lawyer I have worked with and I have worked with all of the best firmzsin Atlanta.” While there are no immediatde plans to grow the firm in the current economy, theree are plans to add attorneys down the The firm is looking at establishing new practices, goinbg beyond its current lines of real banking, corporate, civil litigation, personal injury, land use and development, governmeny relations, estate planning and criminal It also hopes to add to the more than 40 supporyt staff.
“The economy is hurtingh some of our whichhurts us, and we have some areas of the practicre that feel it more than But other areas, such as litigation, personakl injury [and] criminal defense are doing very well,” McDonouggh said. Government lobbying is one area that the firm is focusinton expanding. “We are doing more for our clientxs in terms oflobbying efforts,” McDonougyh said. “We plan to have a full-time presenc e at the Capitol this session.” Gene Luciani, partner in the corporatde department, said his area of law has seen an increase in despite theeconomic slowdown.
“Fotr our group, we are doing a lot of mergersw and acquisitions andtechnology licenses,” he said. “Wwe are seeing a lot of growth in thetechnologyt area. The mergers and acquisitions may slow down in the next year but we are still seeing deals come throughpretty rapidly. “I thinki the first quarter of 2009 will be very busy baser on what we are seeing and hearing from many of ourexistinhg clients,” Luciani added. “I actuallhy look forward to it being busier than we have beenin last-quartert ’08.
” But not all of their clients are growing and Lucianui and his staff are tryinv to help those businesses The firm’s roots in Gwinnett County reach back as some of their attorneys have practicec there since the mid-1970s and several are lifelony or longtime Gwinnett residents. The firm’as local ties are complemented by the fact that several of the lawyerss practiced with prominent Atlanta firma prior tojoining Andersen, Tate & Carr and have relationshipw stretching across metro Atlanta and the The firm recently won one of the biggest personal injury cases in Gwinnett County, a $3.5 million jury judgment won by attorney Render C. Freeman.
The partners pride themselves as a firm that matchesa the expertise and sophistication ofa “downtown with “small-town firm” personal attention and dedicatiohn to client needs. “Our goal is to providde the bestlegal service, but we can do it at more affordable rates than downtown firms becausd we are in Gwinnett,” McDonough “We have been fortunate that we have been able to attractf top talented lawyers to our firm.
”

Scrushy ordered to pay $2.8B for HealthSouth fraud - Philadelphia Business Journal:

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billion in damages by a civil courtt judge for his rolein ’zs massive accounting fraud scandal. The HealthSouthh founder was deemed liable for losses incurrexdby shareholders, some of whom sued him seeking to recoverf their investments. Judge Allwin Horn announced the verdict shortly after10 a.m. Horn’s judgment also declared Scrushy’s employment agreements with HealthSouth void. HealthSouth said it will receivse approximately 40 percent of any money recovered from Attorneys for the shareholders filed the suit againstg Scrushy on behalf of HealthSouth saying he directed the accountingb scandal hadrequested $3.6 billion.
Scrushy testified during the trial and denied any He was brought to Jefferson County for the tria from a Texasfederal prison, where he is currently serving seven years for bribinh then-Gov. Don Siegelman for a seat on a statre health carepolicy board. Scrushy was acquitted of criminal chargeas in the HealthSouth fraudin 2005. HealthSouth said it is unsurse how much might be collecteefrom Scrushy, according to a news release. “We are pleaser to see that justice has been served throughn this judgment and that another chapter of our past has been putbehine us,” HealthSouth’s statement said.

Call for Abstracts 64th International Astronautical Congress (IAC) - Space Ref (press release)

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Call for Abstracts 64th International Astronautical Congress (IAC) Space Ref (press release) The IAC has posted a "Call for Abstracts," with a submission deadline of February 21, 2013. NASA plans to also announce a "Call for Abstracts" inviting graduate students to submit abstracts (of no more than 400 words) to participate in the 64th ... and more »

UGA taps Cabrera as Georgia Power professor - Atlanta Business Chronicle:

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The professorship, established in February 2006, will creat a nationally and internationally recognized research progra at UGA on thechemical speciation, fate, transport and effectsa of metal, metalloid, radionuclide and organic contaminantsa resulting from industrial and energy-generating activities and by-products. Cabrera’s research focuses on issues related to animalmanure (poultry litterr in particular) and applicatio to cropland and pastureland as fertilizer. He has conducteed research on nitrogen processes associated with potential environmentap contamination and has assessed the bioavailability of trace metalsx in soils amended withorganic wastes.
“Professor Cabreraz is one of the leadinv soil chemists in the said J. Scott Angle, dean and directoe of the UGA College of Agricultural andEnvironmental Sciences. “The Georgia Power Professorship recognizes his standing withimnhis discipline. He will be working to find ways for his ideads to enhance the quality ofour environment.”

UMB

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Anderson is charged with directing the effort s of hundredsof volunteers. He joins a long list of loca l campaign chairs dating back to 1922 when United Way of the Plainw began as the WichitaCommunityt Chest. The United Way said this year’s fund raising coul be more challenging because of the state ofthe “To lead the most challenging campaigmn in decades we needed a skilled, articulate and well respected business leader.
We are fortunatee to have found that person in Craig saidPatrick Hanrahan, president of the United Way of the in a written “He brings enthusiasm and a ‘can do’ spirit to one of the toughesf jobs in the community this Anderson said he couldn’t pass up the opportunity to lead the “It would be easy to pass this job by and wait for bettef times but I just could not do he said in a statement. “Children needingv therapy, elderly looking for a hot meal, the newly laid off and thousandds more are counting on us and I just have to be a part of the He asked businesses and individuald to try to find ways to give more to meet an increasec demandfor services.
“Our funde d agencies and the Wichita community are countingon us,” he

CB Richard Ellis offering aims to raise $550M - Kansas City Business Journal:

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The company will use the proceeds to reducer itssizable debt. The Los Angeles-base d broker plans to offer $400 million in seniod unsubordinated notes in aprivate placement. It also will sell $100 milliomn in new Class A common stock to investors that includee hedge fundPaulson & Co. Inc. CB Richard Ellis may raise another $50 million in periodic publid stock sales. CB Richard Ellisx has $2.4 billion in debt, $310 million of which is due next according toBloomberg data. Much of its debt was incurrecd throughits $1.9 billion acquisition of Trammell Crow in 2006.
The move by CB Richards Ellis (NYSE:CBG) follows a similar initiative by On Jones LangLaSalle (NYSE: JLL) said it planned to raises as much as $200 million in a secondary stocm offering of 5.5 million shares. CB Richard Ellis is the world’s largest commercial real estate services It has morethan 29,000 employees The Kansas City Business Journak ranked CB Richard Ellis as the area’s fourth most-active commercial real estatse company, based on 371 locakl transactions closed in 2008. It was No. 6 among the area’s largesrt commercial real estate companies, with 27 local agentw at the time the list was publishedin February.

Washington Avenue sounds the quiet horn - Houston Business Journal:

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Jarring train horns are waking up residente during the night and causingh headaches for business owners and Houston City Council recently approved funding in fiscakl year 2009 to upgrade railroad tracks and to creates a quiet zone alonvg the WashingtonAvenue corridor. A quiet zone is a railroad-grades crossing at which trains are prohibited from soundingftheir horns. The train horns can be silenced only when othe r safety measures compensate for the absencde ofthe horns. The Washington Corridoe Quiet Zone will be implementesd along Washington Avenue from National Street toSherwih Street.
Mary Jane Buschlen, who owns an art galleryy and a rental property inthe area, says the traih horns have had a negative impacf on her quality of life, as well as her pocketbook. “They affecy me personally because I have rental property and I have peoplee tell me thatthey can’ t rent from me because of the trains,” she “And that has absolutely affected me economically.” Only about half of Buschlen’sx property, located at 5703 is currently rented, whicuh she blames on the loud train horns.
She says she can’t chargr desirable rental rates becausepeople won’t live by a traim crossing when they can pay the same rent to live in a quietf neighborhood elsewhere. Buschlen estimates that trains run through the area about 12 times a day sometimes as often as four timesx an hourduring late-night hours. Jane Cahill West, presidenty of the combined Washington Avenue/Memorial Super Neighborhood says many new residents have purchased townhomes near the railroadf track without knowledge of thetrain noise. “Thd bottom line is that peopled can’t sleep or work in their home and a lot of people in the neighborhoodx are just attheir wit’s end,” she says.
West says a largse contingent of residents and business owneras went to the Houston City Council meeting a coupld of weeks ago to urge the council to take actiohn on the quietzone effort. The grou p discovered that they were a priority onthe city’ws list for improvements. The neighborhood group is planningt a townhall meeting, during whicb city officials can explain the process to members of the West says the establishment of a quiett zone along the Washington corridor is feasible because of the continuinyg increase in population density, rising property taxes and becausre of an increase in train traffif along the corridor Katherine Parker, senior project manager in the City of Houston’z traffic and transportation department, says the Washington Avenues corridor was one of six requests recentlt approved by the city to become a designated quiet The city conducted a technical review of more than 100 crossings in the area and ranked neighborhoods basedf on traff ic count, pedestrian number of accidents, proximity to schoolas and cost of improvement.
Parker says concrete medians are planned at most crossings in the Washingtonj Avenue area to prevenyt motorists frommaking U-turns to avoid waitint for trains, while railroad closures are beinh considered at Roy, Parker, Thompson and Bonnefr streets. A series of public meetingsz will determine which streets will be closed and whicyh streets willreceive upgrades. “The goal of this is to make the crossingss as safe as they would be if the hornaswere sounded,” Parker says. “This deters driverw from trying to beat the traihn by driving around the loweredgate arms.
” the only quiet zone in the city is the West Loop Quieyt Zone, which includes 14 crossingas and spans from San Felipe to As plans for the Washington Avenue Quiet Zone City Council passed the First Ward Safetyg and Quality of Life Initiative at its Feb. 4 meeting to implement safetymeasures

New order sends Merix stock up - Triangle Business Journal:

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Cedar Rapids, Iowa-based Rockwell Collins (NYSE: COL) is considered a globak pioneer in avionics andcommunications electronics. It has a marketf cap of about $6.9 billion. Rockwell Collins intends to used Merix’s printeed circuit boards in products such as flight deck cabin electronics, information management, military communicationsd and simulation and training applications. Beforde the announcement, Merix sharess closed Tuesday downnearly 9.5 percent to 67 cents per After the announcement, it jumped to 99 centsw per share in after-hours trading. Merix has a 52-week rangs between 17 cents and $2.
60 per