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August 26, 2010

ISTS Worldwide names first president

Filed under: legal — Tags: , , — Snowman @ 1:15 pm

ISTS Worldwide Inc. on Wednesday named Akash Jain its first president.

The company, which has U.S. headquarters in Fremont, focuses on retail and payments technology.

In this new role, Jain will be responsible for growing the business in rest of the world outside of North America, strategy and development of IP, heading India business and delivery operations high risk personal loans.

ISTS said Akash has more than 22 years of professional experience in the software services industry, working with companies including MasterCard and Reliance.

Click here to read the press release.

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August 17, 2010

Memorial Hermann switches to reusable containers

Filed under: technology — Tags: , , — Snowman @ 6:42 am

Memorial Hermann has reduced its carbon footprint by trading in disposable containers for reusable sharps containers.

The 3,200 bed, 11-hospital health care system launched the Sharps Management Service using Bio Systems reusable containers by Stericycle Inc. (NASDAQ: SRCL). Each reusable container keeps an average of 600 disposable sharps containers from going to a landfill.

Marshall Heins, chief facility services officer at Memorial Hermann, said the shift means Memorial Hermann will no longer buy disposable containers.

“With more than 1.4 million patients visits a year, there are hundreds of thousands of pounds less plastic and cardboard going to landfills,” he said. “Equally important is managing the regulatory compliance and avoiding hundreds of thousands of dollars in costs since we implemented the program in 2006.”

Between April 2009 and March 2010, Memorial Hermann diverted 138,627 pounds of CO2 from 232,610 pounds of plastic and 19,982 pounds of cardboard. Such a carbon diversion is the equivalent to 7,138 gallons of gasoline or 2,622 propane cylinders for home barbecues.

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July 21, 2010

Foreclosures down in July, up for year

Filed under: news — Tags: , , — Snowman @ 9:21 am

The number of property foreclosures in Harris County was down in July as compared to a year ago, according to Foreclosure Information & Listing Service Inc.

The Woodlands-based service reports that 1,252 properties went into foreclosure in July. That’s a 2 percent decline from July 2009, when 1,278 properties experienced the same fate.

A total of 4,092 properties were posted for foreclosure this month — 8.4 percent less than the 4,466 properties posted for foreclosure in July 2009.

Foreclosure postings in Harris County have decreased each month in the second quarter when compared to the same time periods in 2009, reports Foreclosure Information & Listing Service.

Year-to-date, 26,974 properties have been posted for foreclosure — a 21 percent increase over the same time period in 2009 when 22,325 properties were posted.

So far this year, 7,839 properties have gone into foreclosure —24 percent more than in the first seven months of 2009, when 6,310 properties fell into foreclosure.

Source

July 11, 2010

Alaska Airlines says half its planes Wi-Fi equipped

Filed under: finance — Tags: , , — Snowman @ 3:24 pm

Alaska Airlines said that more than half of its airplanes have been equipped with Wi-Fi capability.

In May, the airline, a subsidiary of Alaska Air Group Inc. (NYSE: ALK) of Seattle, said it plans to have its entire fleet equipped with Aircell’s Gogo inflight internet service by the end of the year. Initially free, after July 31 the price goes up to a minimum of $4.95 per flight.

Alaska said Wi-Fi has been installed on 55 of its Boeing Co. (NYSE: BA) 737-800s and 10 of its 737-900s cash advance loan. Its two remaining 737-900s should have Wi-Fi installed by the end of this month, Alaska said.

The airline added that Aircell “will expand its network by early 2011 to provide Gogo inflight internet service on key routes to, from and within the state of Alaska.”

Alaska Airlines and sister airline Horizon Air fly nearly half of the passenger traffic at Seattle-Tacoma International Airport.

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June 26, 2010

Grocer brings the spice of South Asian life to St. Louis

Filed under: legal — Tags: , , — Snowman @ 9:36 pm

For more than two decades, Ashwin Patel has been bringing Indian and Pakistani grains and spices — as well as the latest Bollywood movies — to St. Louis through Seema Enterprises, his grocery business.

Patel can often be found behind the cash register at the store, at 10635 Page Avenue. He knows most of his customers by name, some of whom come from as far away as Columbia, Mo., and Carbondale, Ill., to stock up on groceries every month.

Inside his stores, customers can find a couple of dozen types of rice — parboiled, kerala, ponni, Basmati and so on. It’s also one of the only places St. Louisans can find gongura and methi leaves, lychee and green mango juices, Indian-style frozen hot pockets, henna, toothpaste made with neem herbs, and shelves full of teas from the region.

Patel immigrated to the United States from India in 1978. In 1985, he and his wife, Raksha, took over Seema Enterprises after the store’s former owner passed away.
The Page store, which first opened in 1977, was one of the first Indian groceries in the Midwest, according to Patel.

In 1991, he expanded to a second location to Manchester Road, wanting to be closer to the nearby Hindu temple and the growing South Asian population moving into west St. Louis County.

In the last two years, he’s nearly doubled the size of both stores so he has more space to display the ever-expanding variety of South Asian frozen and dried goods that are increasingly available.

Over the years, Patel has also helped fill a void in the community by sponsoring movie screenings and musical performances by some of Bollywood’s biggest musical stars including the likes of Asha Bhosle, Sonu Nigam and Jagjit Singh, to name a few.

How has your business changed in the last 25 years?

It’s a big change. In that time, there were not that many things available, just rice, flour, dals (lentils). We didn’t have frozen food and ready-to-eat meals then, which are becoming much more popular with this new generation. … At that time, there were only one or two kinds of rice: long-grain or jasmine. Basmati was hard to get back then (and it was so expensive and hence, less popular.) Now we sell almost 25 different kinds of rice. Tamil people eat a different kind of rice. Telugu people use a different rice. …

With the popularity of Indian cooking, are more of your customers non-South Asians? Or is your core business still South Asians?

We have non-South Asian people — they are at least 15 percent of our customers. They mostly come here looking for spices and rice.

A lot of the non-South Asians are becoming vegetarian. So they come to Indian grocery stores to see what they can cook. … And these days, more people are becoming samosa-lovers.

You sponsor a lot of movie screenings of Bollywood movies in area theaters. When did you start that and why?

We started doing that in 1994 … I love Indian movies. When I was growing up in India, I used to watch the first day, first showing of new movies. When we came here, we were out of touch with Indian movies for 15 to 20 years. … Then distributors started to bring the movies to the big cities in 1993-94. So we tried it. … Bollywood has become so popular …

Movie rentals used to be a big part of your business, too, right? Do you still do that?

At one point, movie rentals were 25 percent of the business. But we discontinued that about seven months ago.

Nobody rents anymore. The Internet is bringing more mischief with the piracy thing. … We were paying more money to the distributors and less people were renting them or going to the theaters. Nowadays, many people have Indian satellite channels. About 75 percent of South Asian households have a satellite TV. And they can watch 24 hours of shows and news in their own native languages. …

We also used to sell audio CDs, too. But nobody buys it anymore. They just download it.

Are you worried about the future of your business as the first generation of South Asian immigrants ages and there are more second and third generation South Asians?

The kids who are born here, they are not going to be coming here as much. … I think it might survive but in a different way.

With them, items like Indian hot pockets and naan pizza are really popular. It won’t be the same, but we’ll be OK for at least 10 to 15 years. … But it’s going to be changing.

The kids who were born here, they still have roots. But the newer generation, we don’t know. My son likes Indian food. But the next generation?

Source

June 21, 2010

High hopes for Crown Square in Old North St. Louis as official opening nears

Filed under: legal — Tags: , , — Snowman @ 7:45 am

The regular lunch crowd waiting to enter Crown Candy Kitchen at North 14th Street and St. Louis Avenue may soon find another reason to visit the block.

A ribbon-cutting ceremony is set for July 29 to launch the fully renovated Crown Square, a residential and commercial development in the 2600 and 2700 blocks of North 14th.

The development, offering 80 residential units and 35,000 square feet of commercial and retail uses, spans 27 buildings and 2½ acres of green space.

The developers, two nonprofit community groups, are optimistic the $35 million project will bring more traffic to that once-booming north St. Louis neighborhood and help lead a renaissance for the area.

"This is the biggest project that we’ve ever been involved with," said Sean Thomas, executive director of the Old North St. Louis Restoration Group, which teamed up with the Regional Housing and Community Development Alliance.

"It is very close to being ready," Thomas said. "Work to reopen the street is the last component to be finished."

In fact, those two blocks of North 14th will be reopened to vehicular traffic for the first time in 33 years. The buildings there had fronted on a failed pedestrian mall since 1977, when urban planners believed that was the best way to attract business to the neighborhood.

However, prospective shoppers and clients of businesses along what was called the 14th Street Mall didn’t like parking behind the buildings and having to walk around to the front doors.

So most businesses along the pedestrian mall eventually closed.

In 2005, the Regional Housing and Community Development Alliance and Old North St. Louis Restoration Group decided to partner to redevelop the mall, which had become an eyesore.

The buildings were acquired over almost two years, from late 2005 through summer of 2007, for about $2 million, developers said.

Funding for the project came from a variety of sources. The development alliance provided a $2 million predevelopment loan. Another $12 million came from state and federal tax credits, and the rest through individual and institutional contributions.

Thomas said he was especially encouraged about the development’s prospects because nearly 70 of 80 housing units in the redevelopment area already have been leased to tenants.

"The challenge now is in leasing out the commercial spaces," he said. "But we have been getting a lot of interest. We want to get them out here to see it and look at the possibilities."

At least one restaurant and some retail businesses are in discussions with real estate agents for the developers, Thomas said.

Two new businesses already have moved into Crown Square, even as the work continues outside on the street. Norah Ryan has opened her law office there, and Therapy, a women’s clothing store, is preparing for its grand opening soon.

Ryan said she was happy about deciding to move her office from Clayton to Crown Square.

"There’s a wonderful sense of community, and a lot of things are going on here," she said.

Ryan, who was familiar with the neighborhood, said the full impact of the redevelopment struck her while taking a friend on a driving tour of the city last fall. "I thought, ‘Wow! That’s pretty neat.’"

And she said her new office was just the right size for her law practice, at about 900 square feet of renovated space.

Thomas acknowledged that a fear of crime has kept some businesses and clients away from the neighborhood for years. But he noted that crime rates in the area had gone down in recent years, and that many of the area’s residents were actively involved in Neighborhood Watch and other programs to keep the area safe.

Thomas said he could foresee a day when the development would rival the neighborhood’s heyday of the 1920s through the early 1950s. In addition to small businesses, that stretch of North 14th once had the first J.C. Penney store in the St. Louis area, he said, adding that the area also had Woolworths and J.J. Newberry’s five-and-dime stores.

"You could argue that this was the main street of a small town, and it could become that way again," he said.

E.M. Harris Construction Co., based in St. Louis, began work on the residential part of Crown Square late in 2007. Restoration of the commercial buildings began in 2008. The project was named in honor of Crown Candy Kitchen, which has anchored the neighborhood for years.

The buildings in Crown Square date from as old as 1860 to the 1920s. Developers restored each building to the era in which it was built, Thomas said.

"This project reflects what cities actually look like — they evolve and change over time," he said.

Source

June 16, 2010

Funding approved for new Sacramento County courthouse

Filed under: management — Tags: , , — Snowman @ 12:45 pm

Funding for a new Sacramento County Courthouse was approved Monday, paving the way for a much-larger — and much-needed — building for criminal trials.

The state Public Works Board approved $439.1 million for the courthouse, a lower cost for the project that allows to expand the number of courtrooms from 35 to 44 and more space for holding cells. In addition, the state will shift administrative space to the existing Schaber Courthouse, rather than the original plan for administrative offices to be part of the new building. The Schaber building will also undergo a minor renovation under the plan.

“The new courthouse is long overdue and badly needed … ,” presiding Judge Steve White said in a news release Monday. “The current downtown courthouse is 45 years old. It is inadequate to handle the 25,000 people who enter it every week. The jury room, well beyond overcrowded, spills into the hallways of the courthouse; crime victims are forced to wait in the halls with defendants’ families; and jurors with witnesses online payday advance.”

Criminal trials will be held in the new courthouse, while the Schaber Courthouse will handle civil trials.

The new 405,000-square-foot courthouse includes 44 courtrooms and allows the county to consolidate from seven locations to three, eliminating four leases. Nine new judges will be added to meet the increasing legal demand.

The almost half billion-dollar courthouse is funded by Senate Bill 1407, which provided $5 billion in funding for “critically needed new and renovated court facilities” that use court-user fees rather than the state general fund.

Local architecture firm Nacht & Lewis and global firm HOK have been hired to design the criminal courthouse. The Administrative Office of the Courts expects to choose a site and complete deal for the property in 2011, and begin construction in 2013. The new courthouse should open in 2015.

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May 6, 2010

Fifteen groups say they’re interested in a casino license

Filed under: legal — Tags: , , — Snowman @ 8:51 pm

As you might expect, Missouri’s 13th and final casino license is drawing a crowd.

Fifteen groups — real estate developers, gambling companies, local governments — told the Missouri Gaming Commission this week that they were interested in opening a casino when the President Casino closes next month. At least five of them would put it in the St. Louis region.

All are very preliminary. The letters basically tell state officials a company is interested. Next, the commission will hold a public meeting explaining the process, and set a deadline for formal applications. But they give a picture of who might build what where.

Among the interested:

— St. Louis businessman Jim Koman, a part owner of the Casino Queen who through a separate company called Casino Celebration holds a site just south of the Chain of Rocks bridge, where he would put a $125 million riverboat casino.

— Attorney Brad Lakin, who leads North County Development LLC, which has won rezoning approval to put a casino complex on 350 acres south of the Columbia River Bottoms.

— Creve Coeur-based Isle of Capri Casinos, which didn’t specify a site and appears to be eyeing at least two. It was the only large casino company to raise its hand.

— West Alton Partners LLC, a group that tried unsuccessfully to put a riverboat in that small north St. Louis County town in 1996.

— Blue Sky Development, which owns a casino in Indiana and is interested in an unspecified site in the city of St. Louis.

— Three separate groups that are eying Cape Girardeau, including one led by Joe Uram, former chief financial officer of Argosy Gaming.

— Coastal Capital Management LLC, a New York-based casino developer run by Kenneth Shea, who led gambling operations for Carl Icahn’s Icahn Capital hedge fund.

— Ingenus Management, a Minnesota-based casino consultancy company, which is trying to win a license in Ottumwa, Iowa.

— The city of Sugar Creek, Mo., near Kansas City, which narrowly lost out on a new casino in 2008 when voters capped licenses at the current 13.

Other groups can still apply, and any proposal will need to partner with an experienced casino operator to actually win the license, said LeAnn McCarthy.

That will probably winnow down some of the proposals. So will the market study the commission plans to conduct.

"Anyone can throw out a letter of interest," McCarthy said. "But soon we’ll start to pare down."

Source

April 12, 2010

Black Mayors Conference coming to Cincinnati

Filed under: management — Tags: , , — Snowman @ 10:21 am

The National Conference of Black Mayors will hold its 36th annual convention in Cincinnati, the city and the Cincinnati USA Convention & Visitors Bureau will announce Monday morning.

The convention will take place May 12-16, to coincide with Major League Baseball’s Civil Rights Game, scheduled for May 15 at Great American Ball Park.

About 700 conference members are expected to attend the convention, booking more than 1,200 room nights, according to a news release. Cincinnati Mayor Mark Mallory will host the event.

The Cincinnati Reds will meet the St. Louis Cardinals in the Saturday Civil Rights Game. Among the events surrounding the game, Major League Baseball will present its Beacon Awards to athletes Willie Mays and Billie Jean King and actor/musician/activist Harry Belafonte.

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March 29, 2010

Best Buy shares soar after earnings surprise

Filed under: finance — Tags: , , — Snowman @ 11:03 am

Shares of Best Buy Co. surged Thursday after the electronics seller posted fiscal fourth-quarter results that beat Wall Street’s expectations.

Net income for the three months ended Feb. 27 jumped nearly 37% to $779 million, or $1.82 a share. Revenue rose 12% to $16.6 billion from a year earlier.

Analysts polled by Thomson Reuters were looking for earnings of $1.79 a share on sales of $16.08 billion.

Comparable sales gained 7.4%, driven by double-digit percentage increases in sales of its notebook computers and flat-panel TVs.

Best Buy (BBY, Fortune 500) shares rose 7% in early trading, but pared gains a bit to end the day almost 3 low fee pay day loans.6% higher.

The government reported that overall retail sales last month rose 0.3%, better than what analysts had been expecting. The increase was led by a 3.7% jump in electronics and appliance sales, signaling that demand in the sector may be recovering.

In January, Best Buy said sales grew 13% in December, the first holiday season without competition from Circuit City, which closed its doors last year.

Looking ahead, Best Buy forecast earnings of $3.45 to $3.60 per share for fiscal year 2011.  

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