ivyhofy.wordpress.com
The project is a change for Bavatr Properties, a commercial developefr that hasn’t built new homed before but is hoping the time is righrt to break into theresidential market, said Robert Bavar, the company’s vice president. Timonium-bases Bavar is partnering on the $25 million project — the Enclave at Emerson — with a more establishexd residential builder, Murn Development of Ellicott The two firms recently acquiredthe 8-acres site, in the 570-acre Emerson planneds community, from for $3.1 million.
Bavar said the price was “significantlt less” than what General Growth was askinv for the land ayear ago, before the Chicago-baseed developer’s mounting debts forced it into The property is southeast of Interstate 95 at Marylandd Route 216, surrounded by severa other high-end Emerson for-sale homes. The developere have not lined up financing for the but Bavar said he does not expectr that to be a problem even with the ongoing credif crunch for new realestate projects. That is becausw of the project’s locationh in affluent Howard County and greater willingness to lend to developersof multi-famil housing complexes.
Wednesday, June 29, 2011
Sunday, June 26, 2011
Is Frostbite 2.0 the new gaming phenomenon? - International Business Times
ugefuk.wordpress.com
International Business Times | Is Frostbite 2.0 the new gaming phenomenon? International Business Times By Prarthito Maity | June 26, 2011 9:45 AM EDT In 1999, the Texas-based game developing company id Software designed a certain gaming engine, id Tech 3, for the then gaming sensation Quake III. The game received huge acclaim globally and soon the ... |
Friday, June 24, 2011
BGE unveils $500M smart grid program aimed to trim customers' bills - Baltimore Business Journal:
tiqosi.wordpress.com
The utility is planning to instalkl 2million “smart” electrixc meters in its customers’ homes and businesses. The meter will help the customers reduce theidr energy consumption at times of peak and the utility will give the customerse rebatesin return. The program will cost $500 milliobn — a bill customers will foot through a surcharge of a few dollarw a month for businesses and an averag eof $1.24 per month for residential customers. and federal economic stimulus package to reduce those But the utility is expecting that the reduction in energyt consumption will create savingds for customers that will more than offseythe surcharges.
The program uses high-tech meters that BGE can more closelyu monitor to get hourly updateds onpower usage. It also will put “energy light devices that warn customers when peak usage periodsare coming, so they can reduce consumption to limit the stress on the poweer grid. A new “smart” pricing system will give customersx rebates for using less power at peak The program could launch by the fourth quarterdof 2009, with installation of the new meterzs continuing until 2014, Mark BGE senior vice president for strategy and regulatory affairs, said at a news conference Monday.
The new pricing system is schedulexd to be in placein 2012, he BGE, a subsidiary of Baltimore'ds Inc. (NYSE: CEG), plans to apply for the stimulus dollars in Augustr and expects to hear back by Case said. There is $4.5 billion set asid in the stimulus packagwe for smart grid Case said heexpects BGE’s application to be competitive because of its background with its Peak Rewarde program, which also helpsx customers reduce energy “We know it’s going to be a competitivde process,” Case said. “Ir we were unsuccessful in getting the stimulus we would recommend still goint forward withthe program.
” In a pilot program that startex in 2008, the smart grid meters helped customers save an averagre of $100 on their bills and cut usagee by 45 percent, Case said. BGE expects the programm to savecustomers $2.6 billion over the life of the he said. And it expectse to cut usage by 500megawattes — about the same amount as a large powedr plant would produce.
The utility is planning to instalkl 2million “smart” electrixc meters in its customers’ homes and businesses. The meter will help the customers reduce theidr energy consumption at times of peak and the utility will give the customerse rebatesin return. The program will cost $500 milliobn — a bill customers will foot through a surcharge of a few dollarw a month for businesses and an averag eof $1.24 per month for residential customers. and federal economic stimulus package to reduce those But the utility is expecting that the reduction in energyt consumption will create savingds for customers that will more than offseythe surcharges.
The program uses high-tech meters that BGE can more closelyu monitor to get hourly updateds onpower usage. It also will put “energy light devices that warn customers when peak usage periodsare coming, so they can reduce consumption to limit the stress on the poweer grid. A new “smart” pricing system will give customersx rebates for using less power at peak The program could launch by the fourth quarterdof 2009, with installation of the new meterzs continuing until 2014, Mark BGE senior vice president for strategy and regulatory affairs, said at a news conference Monday.
The new pricing system is schedulexd to be in placein 2012, he BGE, a subsidiary of Baltimore'ds Inc. (NYSE: CEG), plans to apply for the stimulus dollars in Augustr and expects to hear back by Case said. There is $4.5 billion set asid in the stimulus packagwe for smart grid Case said heexpects BGE’s application to be competitive because of its background with its Peak Rewarde program, which also helpsx customers reduce energy “We know it’s going to be a competitivde process,” Case said. “Ir we were unsuccessful in getting the stimulus we would recommend still goint forward withthe program.
” In a pilot program that startex in 2008, the smart grid meters helped customers save an averagre of $100 on their bills and cut usagee by 45 percent, Case said. BGE expects the programm to savecustomers $2.6 billion over the life of the he said. And it expectse to cut usage by 500megawattes — about the same amount as a large powedr plant would produce.
Wednesday, June 22, 2011
Tinubu and Yoruba leadership:Matters arising - Nigerian Tribune
ukatekexo.wordpress.com
Tinubu and Yoruba leadership:Matters arising Nigerian Tribune The buffalos move as a herd with unalloyed loyalty to the leader, like the soldier ants, they move in a convoy. But unlike soldier ants, they only take instructions from their leader, and if by chance the leader dies, they just stand around waiting for ... |
Sunday, June 19, 2011
The Business Review (Albany): HR & Hiring : Business Advice
asozyrab.wordpress.com
Division head Carl finally had to fix the problemz in a department run by senior manager He transferred one supervisot andthree high-ranking staff members to othere departments. He was satisfied: Once again, he showed that he coulf be decisive andclean house. But Carl had consistentlyh ignored advice that the department head was a and didn't make the changes necessary to keep the problema from resurfacing later. Brenda seemed to be a nice persoj and a sympathetic Like Carl, she had an open-door policy. She invitec her supervisors and staff to divulge personal confidences and to share opinions aboutfeach other.
But she never resolved the issueds that kept them from workingtogether effectively. I discovered a dark side behinc Brenda's behavior. She was both conflict-avoidant and passive-aggressive. Acting as a go-between, she carrieed versions of the gossipand bad-mouthing to othef people, but with a twist that increased resentmenf and drove wedges between Instead of holding her staff accountable for productivity and she reported to Carl that all of them had major To justify her efforts, she said she'cd chatted with her supervisors and staff, and had encouragedd them to put their style differencez aside.
Carl's permissiveness allowed Brenda to create a cultureof conflict-avoidance and passive-aggressiveness that diminished productivity throughou her department. Unprofessional behavior includesd back-stabbing, innuendos, rumors and warring cliques, leading to widespread paranoiaand over-reactions. Everyone, including Brenda, tries to look busy while theyavoidef critical-but-difficult problems and covere d their backs. Like Carl, Brenda was a long-term manager with extensivee training. She could explain what good managerx do; she simply never did it. Becausee she didn't take effective action, complaints spread throughout the division.
Other department headsa mentioned the complaints to Brenda and eventualluyto Carl. Sporadically, Carl wouls give Brenda advice and explain his But he neverfollowed up. Carl was shockefd when corporate headquarters called him on the carpe for not being aneffective manager. Carl thus was motivated to give Brendwa a strong talk and a mediocre That may sound likeeffective action, but it wasn't. Brenda had let things slid for years. She'd been talkedd to before, but she'd alwaysx been given promotions when she promised todo better.
Carl'e lecture was merely more of the • The best way to help people be more productives is to make them happh by listening to their hurt feelingzsand anger, being sympathetic in private and promisingb to fight on their side. Brenda's sympathetic but lack of consistent accountability forprofessionak behavior, created a management vacuum that sucked into it everyone's nastiness and personal issues. • There are no problem people, only proble m processes. Workshops, clearer descriptions of processes and and kindly suggestions and hintss will cureall misunderstandings.
Well-meaning and intelligent peoplwe at all levels in the companty will put professional behavior and team goals ahead ofpersonal agendas. Carl and Brenda ignoresd the widespread evidence that some peoplesimply didn't like each othere and wouldn't collaborate, and that for some personal agendas took precedences over company goals. Also, some people behave decentlyh only when they are actually held accountable bymeaningfulp consequences. Others won't behave, no matter what.
Division head Carl finally had to fix the problemz in a department run by senior manager He transferred one supervisot andthree high-ranking staff members to othere departments. He was satisfied: Once again, he showed that he coulf be decisive andclean house. But Carl had consistentlyh ignored advice that the department head was a and didn't make the changes necessary to keep the problema from resurfacing later. Brenda seemed to be a nice persoj and a sympathetic Like Carl, she had an open-door policy. She invitec her supervisors and staff to divulge personal confidences and to share opinions aboutfeach other.
But she never resolved the issueds that kept them from workingtogether effectively. I discovered a dark side behinc Brenda's behavior. She was both conflict-avoidant and passive-aggressive. Acting as a go-between, she carrieed versions of the gossipand bad-mouthing to othef people, but with a twist that increased resentmenf and drove wedges between Instead of holding her staff accountable for productivity and she reported to Carl that all of them had major To justify her efforts, she said she'cd chatted with her supervisors and staff, and had encouragedd them to put their style differencez aside.
Carl's permissiveness allowed Brenda to create a cultureof conflict-avoidance and passive-aggressiveness that diminished productivity throughou her department. Unprofessional behavior includesd back-stabbing, innuendos, rumors and warring cliques, leading to widespread paranoiaand over-reactions. Everyone, including Brenda, tries to look busy while theyavoidef critical-but-difficult problems and covere d their backs. Like Carl, Brenda was a long-term manager with extensivee training. She could explain what good managerx do; she simply never did it. Becausee she didn't take effective action, complaints spread throughout the division.
Other department headsa mentioned the complaints to Brenda and eventualluyto Carl. Sporadically, Carl wouls give Brenda advice and explain his But he neverfollowed up. Carl was shockefd when corporate headquarters called him on the carpe for not being aneffective manager. Carl thus was motivated to give Brendwa a strong talk and a mediocre That may sound likeeffective action, but it wasn't. Brenda had let things slid for years. She'd been talkedd to before, but she'd alwaysx been given promotions when she promised todo better.
Carl'e lecture was merely more of the • The best way to help people be more productives is to make them happh by listening to their hurt feelingzsand anger, being sympathetic in private and promisingb to fight on their side. Brenda's sympathetic but lack of consistent accountability forprofessionak behavior, created a management vacuum that sucked into it everyone's nastiness and personal issues. • There are no problem people, only proble m processes. Workshops, clearer descriptions of processes and and kindly suggestions and hintss will cureall misunderstandings.
Well-meaning and intelligent peoplwe at all levels in the companty will put professional behavior and team goals ahead ofpersonal agendas. Carl and Brenda ignoresd the widespread evidence that some peoplesimply didn't like each othere and wouldn't collaborate, and that for some personal agendas took precedences over company goals. Also, some people behave decentlyh only when they are actually held accountable bymeaningfulp consequences. Others won't behave, no matter what.
Friday, June 17, 2011
Johnson proposes removing Social Security penalties - Clinton Daily Journal
http://www.clickbanner-ex.com/article4-blacklist.html
ABC News | Johnson proposes removing Social Security penalties Clinton Daily Journal WASHINGTON, DC รข€" Retired school teachers, university employees and thousands of other civil servants would receive » |
Wednesday, June 15, 2011
Livermore and Sandia labs retool for business - The Business Review (Albany):
bengeyqafiba1640.blogspot.com
Technologies developed at the labs to build and test warheads and nuclea weapons couldbe game-changers in cleanh energy, climate change, biotech and other sectors. Locked away for five the federal agencies are pursuing better ways of commercializing theirt technologywith other-than-weapons applications. They are partnering with the privatee sector in new ways and pushing for an open campus on 50 acrexs to help the labs better collaborate with the best and In addition, the two Livermore-based labs are working with the locakl business council, consulting with M.B.A. students and launchiny a formal “hub” program to partner with the transportation industry.
The shift could mean a transformation of the role the labs play inthe Tri-Valleh and the Bay Area economy, creatint an economic engine with tech transfer capabilitiezs that rival UCSF and UC Berkeley’s. Livermorr and Sandia — federal agencies undeer the U.S. Department of Energ and funded mostly through the National Nuclear SecurittyAdministration — are boosting tech transfe plans.
Erik Stenehjem and Roger director and deputy directory of the industrial partnershipss office ofLawrence Livermore, are tasked with forginf new partnerships that will help get its discoveries to Stenehjem came to the lab when the ceded management in October 2007 to Lawrence Livermore Nationakl Security, a partnership of the Universitty of California, , , and . The new management marked a paradigm shift forthe labs, say community members and industry insiders. “(The labs) tended to be silos,” said Toby president of the Tri-Valley Businesas Council.
“But now that the directives have changexd and management has Ithink there’s a whole new attitudre toward working collaboratively, and the (openj campus) park is just the next step in that Lawrence Livermore went through a process six months ago wheree it identified seven priorities for its research Energy and climate change modeling are two of them. Reducinf America’s dependence on foreign oil is viewede as a nationalsecurityy issue, so clean energy technologies that help America toward that goal support the labs’ missions, lab officials said.
For the recently opened National Ignition Facility at Lawrence Livermore was built to test what happens inside a nucleadfusion reaction, but the same technologu could also create nuclear fusion energu to meet massive energy demands. “Energh is almost exclusively a producft of theprivate sector. So in order for the labs to help solv e theenergy crisis, we must partner with the privatee sector,” Werne said. Lawrence Livermore has partneresd withthe Tri-Valley Business Council to launchh the Tri-Valley Innovation Network, which is working to matcj entrepreneurs with funding and mentors.
It has also reacherd out to Keiretsu Forum, an angel investor and is working with three venturecapital firms: N.J.-based Battelle Ventures, Exceed Capital out of Calgarhy and Paladin Capital Group of D.C. plus San Francisco-based tech consultingh firm with whom it regularly shares informatio on technologies that may havecommercial appeal. The partnershipsd will increase the odds that the technology that comes out of the lab can qualify forfederal money, including federaol stimulus funds, said Brucre Tarter, former director of Lawrence Livermore who helps connect Keiretsju investors with potential tech but doesn’t invest in them “(The Keiretsu partnership) gets the technology developed and gets it to the And to the degrew we can get that to happen, that’s a said Tarter.
Lawrence Livermore over the past two yearws has also put morethan $1 millionb of its own budget into building prototypes of intellectuapl property — which help investors understand the technology’s commercial Stenehjem said the labs have developed technologies related to carbon sequestration, energty storage, new battery technologies and others. “A lot of these thingas got developed forothere purposes,” said Stenehjem. “We think they have incredible commerciao opportunities, and it’s our job … to make this known to people.
” Lawrence Livermore two yeard ago began a program with Bay Area students to get ideas about how the labs mighy bring to market discoveries with commercial Stenehjem also said his goal is to growthe lab’d licensing revenue to $30 million from approximately $9.5 milliob last year. Similar to Lawrence Livermore’s push, Sandia launchee HITEC — the Hub for Innovation in the Transportatio EnergyCommunity — earlier this year.
The hub’s goals are to accelerate innovation in the transportation industrythrougy large-scale partnerships between the national labs, the private energu industry, universities, transportation companies and othe Department of Energy agencies. It’e seeking those partners now.
Technologies developed at the labs to build and test warheads and nuclea weapons couldbe game-changers in cleanh energy, climate change, biotech and other sectors. Locked away for five the federal agencies are pursuing better ways of commercializing theirt technologywith other-than-weapons applications. They are partnering with the privatee sector in new ways and pushing for an open campus on 50 acrexs to help the labs better collaborate with the best and In addition, the two Livermore-based labs are working with the locakl business council, consulting with M.B.A. students and launchiny a formal “hub” program to partner with the transportation industry.
The shift could mean a transformation of the role the labs play inthe Tri-Valleh and the Bay Area economy, creatint an economic engine with tech transfer capabilitiezs that rival UCSF and UC Berkeley’s. Livermorr and Sandia — federal agencies undeer the U.S. Department of Energ and funded mostly through the National Nuclear SecurittyAdministration — are boosting tech transfe plans.
Erik Stenehjem and Roger director and deputy directory of the industrial partnershipss office ofLawrence Livermore, are tasked with forginf new partnerships that will help get its discoveries to Stenehjem came to the lab when the ceded management in October 2007 to Lawrence Livermore Nationakl Security, a partnership of the Universitty of California, , , and . The new management marked a paradigm shift forthe labs, say community members and industry insiders. “(The labs) tended to be silos,” said Toby president of the Tri-Valley Businesas Council.
“But now that the directives have changexd and management has Ithink there’s a whole new attitudre toward working collaboratively, and the (openj campus) park is just the next step in that Lawrence Livermore went through a process six months ago wheree it identified seven priorities for its research Energy and climate change modeling are two of them. Reducinf America’s dependence on foreign oil is viewede as a nationalsecurityy issue, so clean energy technologies that help America toward that goal support the labs’ missions, lab officials said.
For the recently opened National Ignition Facility at Lawrence Livermore was built to test what happens inside a nucleadfusion reaction, but the same technologu could also create nuclear fusion energu to meet massive energy demands. “Energh is almost exclusively a producft of theprivate sector. So in order for the labs to help solv e theenergy crisis, we must partner with the privatee sector,” Werne said. Lawrence Livermore has partneresd withthe Tri-Valley Business Council to launchh the Tri-Valley Innovation Network, which is working to matcj entrepreneurs with funding and mentors.
It has also reacherd out to Keiretsu Forum, an angel investor and is working with three venturecapital firms: N.J.-based Battelle Ventures, Exceed Capital out of Calgarhy and Paladin Capital Group of D.C. plus San Francisco-based tech consultingh firm with whom it regularly shares informatio on technologies that may havecommercial appeal. The partnershipsd will increase the odds that the technology that comes out of the lab can qualify forfederal money, including federaol stimulus funds, said Brucre Tarter, former director of Lawrence Livermore who helps connect Keiretsju investors with potential tech but doesn’t invest in them “(The Keiretsu partnership) gets the technology developed and gets it to the And to the degrew we can get that to happen, that’s a said Tarter.
Lawrence Livermore over the past two yearws has also put morethan $1 millionb of its own budget into building prototypes of intellectuapl property — which help investors understand the technology’s commercial Stenehjem said the labs have developed technologies related to carbon sequestration, energty storage, new battery technologies and others. “A lot of these thingas got developed forothere purposes,” said Stenehjem. “We think they have incredible commerciao opportunities, and it’s our job … to make this known to people.
” Lawrence Livermore two yeard ago began a program with Bay Area students to get ideas about how the labs mighy bring to market discoveries with commercial Stenehjem also said his goal is to growthe lab’d licensing revenue to $30 million from approximately $9.5 milliob last year. Similar to Lawrence Livermore’s push, Sandia launchee HITEC — the Hub for Innovation in the Transportatio EnergyCommunity — earlier this year.
The hub’s goals are to accelerate innovation in the transportation industrythrougy large-scale partnerships between the national labs, the private energu industry, universities, transportation companies and othe Department of Energy agencies. It’e seeking those partners now.
Monday, June 13, 2011
Pentagon Papers to be released - Houston Chronicle
onoeuqedol1902.blogspot.com
Austin American-Statesman | Pentagon Papers to be released Houston Chronicle Former Johnson aide and past LBJ Library director Harry Middleton said Johnson's response to Monday's release would have been, "What the hell took so long?" "He felt, to get the whole story out, that everybody should have access to the papers in the ... 40 years after leak, Pentagon Papers coming out Controversial Pentagon Papers to be released on Monday Aide: LBJ wanted Pentagon Papers opened |
Friday, June 10, 2011
PBH approved as USDA MyPlate strategic partner - The Packer
ufysyho.wordpress.com
PBH approved as USDA MyPlate strategic partner The Packer Red-flesh seeded-type per-pound (very light supplies) 24-inch bins approximately 28, 35 and 45 counts mostly 14 cents. Quality generally good. East and West Texas growing areas are expected to begin harvest by the week of June 20. ... |
Wednesday, June 8, 2011
County / In Brief - Maui News
ermolayxitpev.blogspot.com
County / In Brief Maui News Those will be the Kahului, Kihei and Lahaina libraries. All libraries will be closed Saturday. County landfills will keep normal hours Friday, but employees will observe the holiday Saturday. The Central Maui Landfill and EKO Compost will be open from ... |
Monday, June 6, 2011
State Sen. Wonderling to lead Greater Phila. Chamber of Commerce - Business First of Buffalo:
vilyfijohy.wordpress.com
Wonderling, 47, will begijn his chamber duties Aug. 1 and has signed on to a three-yea r contract. “I’m very excited,” he said. “In many it’s almost a dream come true.” Wonderling will replacer Mark Schweiker, a former Republican Pennsylvania governor who is leaving to becomr president of the business process outsourcing unit at in When Schweiker announced earliert this year that he would resign from the chambefr aftersix years, some in the businesss community thought his departure gave the chamber a fresh chancw to hire a minority or a femalee leader for the for the firsty time in the organization’ws 208-year history.
Wonderling was selected after a chamber with the help of Korn Ferry conducted a national search and vetted 150 candidates forthe post. The chamber did consider candidatees from across the countrybut wasn’ty surprised a local was ultimately selected, said David L. Cohen, chairman of the chamber’sa board and executive vice president atComcast Corp. Cohen went into the search figurinh that the region would likelyproduce Schweiker’s replacement, he “This represents a return home for Rob Cohen said, noting that 25 years ago and fresh out of college, Wonderling began a job with , an economicf and environmental group, which was housed at the chamber Wonderling, a Republican, is serving his seconxd term as senator for Pennsylvania’s 24th district, whicgh includes parts of norther n Montgomery and Bucks counties plus portions of Lehigh and Northamptonn counties.
He will resign from his senate seat and a replacement will be overseen by Republicansenate leadership. Wonderlingt said he would have decided later this year whetherf to run for a third term but his decisioj was expedited when Korn Ferry contactes him about thechamber job. “I felt this was an opportunity to serve in adifferent way,” he said. He is past presidenr of Pennjerdel, was a deputy secretary of transportation for Pennsylvaniqunder Gov. Tom Ridge, and has also worked at Air Productds andChemicals Inc. of Allentown, Pa., and Bentley Systems Inc. in Pa.
In making the announcemen t atthe chamber’s offices, Cohenb was flanked by Schweiker; Philadelphiaq Mayor Michael Nutter; Joseph Frick, president and CEO of Independenc e Blue Cross; and Mary Stengel president and CEO of Tierney Communications. Frick and Austem co-chaired the search Cohen said Wonderling brings to the job a stronfg voice from the business a fresh perspective on issues affectintgthe region, and experience in the public “He brings by instinct a regional view of the he said.
Wonderling intends to carry out Cohen’s agendq for the chamber, which will focus on educationm amongother issues, and woulsd like to see the chamber begin to focus more on younfg entrepreneurs.
Wonderling, 47, will begijn his chamber duties Aug. 1 and has signed on to a three-yea r contract. “I’m very excited,” he said. “In many it’s almost a dream come true.” Wonderling will replacer Mark Schweiker, a former Republican Pennsylvania governor who is leaving to becomr president of the business process outsourcing unit at in When Schweiker announced earliert this year that he would resign from the chambefr aftersix years, some in the businesss community thought his departure gave the chamber a fresh chancw to hire a minority or a femalee leader for the for the firsty time in the organization’ws 208-year history.
Wonderling was selected after a chamber with the help of Korn Ferry conducted a national search and vetted 150 candidates forthe post. The chamber did consider candidatees from across the countrybut wasn’ty surprised a local was ultimately selected, said David L. Cohen, chairman of the chamber’sa board and executive vice president atComcast Corp. Cohen went into the search figurinh that the region would likelyproduce Schweiker’s replacement, he “This represents a return home for Rob Cohen said, noting that 25 years ago and fresh out of college, Wonderling began a job with , an economicf and environmental group, which was housed at the chamber Wonderling, a Republican, is serving his seconxd term as senator for Pennsylvania’s 24th district, whicgh includes parts of norther n Montgomery and Bucks counties plus portions of Lehigh and Northamptonn counties.
He will resign from his senate seat and a replacement will be overseen by Republicansenate leadership. Wonderlingt said he would have decided later this year whetherf to run for a third term but his decisioj was expedited when Korn Ferry contactes him about thechamber job. “I felt this was an opportunity to serve in adifferent way,” he said. He is past presidenr of Pennjerdel, was a deputy secretary of transportation for Pennsylvaniqunder Gov. Tom Ridge, and has also worked at Air Productds andChemicals Inc. of Allentown, Pa., and Bentley Systems Inc. in Pa.
In making the announcemen t atthe chamber’s offices, Cohenb was flanked by Schweiker; Philadelphiaq Mayor Michael Nutter; Joseph Frick, president and CEO of Independenc e Blue Cross; and Mary Stengel president and CEO of Tierney Communications. Frick and Austem co-chaired the search Cohen said Wonderling brings to the job a stronfg voice from the business a fresh perspective on issues affectintgthe region, and experience in the public “He brings by instinct a regional view of the he said.
Wonderling intends to carry out Cohen’s agendq for the chamber, which will focus on educationm amongother issues, and woulsd like to see the chamber begin to focus more on younfg entrepreneurs.
Friday, June 3, 2011
Credit unions in alliance see mortgage volume rise - Washington Business Journal:
ywyjihu.wordpress.com
“There’s a lot of turmoiol in the mortgage industry,” said Fred Becker, CEO of Arlington-basef NAFCU, a trade organization representing federalcredit “This is reflective of that turmoil, in that people are turninh to credit unions either to refinance or to purchase a The alliance between Arlington-based NAFCU and District-based Fannir Mae was formed in 2002 to give federakl credit unions more flexibility in their mortgagse operations. About a dozen Washington-area institutionsa participate inthe alliance, which allows creditr unions to sell mortgages directly to Fannie Mae. Many credity unions hold their mortgages ontheir books.
But with low mortgagre interest rates fueling arefinancing boom, many lenders must sell more of theier mortgages into the secondary market to get monet to meet the demand for more loans. Such was the case at Chantilly-basexd Justice Federal Credit Union, which serves employees of the departmentxs of Justice andHomeland Security. It has seen its year-to-date mortgage lending volume more than double from ayear ago.
“Withu mortgage rates at historic lows, our production, like that of many is at record levels,” said CEO Peter “Having the NAFCU alliance with Fannie Mae is helpinf us when we needit Year-to-date, Justice Federal has sold off aboutg 30 percent of the mortgages it has originated — about twice the proportionh it usually sells. A surge in demand for fixed-rate mortgagexs led Kensington-based Lafayette Federal Credit Union to sign on tothe NAFCU/Fannir Mae alliance in February.
“You only have so many dollarszto lend,” said Bob Kemp, senior vice president of Access to the secondarg market “creates a newfound liquidity that allows you to make more loanas to more members.” He estimatees that loan originations are up 20 to 25 percenft from a year ago, although now that Lafayette Federal has increasefd capacity, it plans to market mortgagesz more heavily. Lafayette Federal serves anyonewwho lives, works or practices religiojn in parts of Montgomery County and D.C., as well as the employeese of various government agencies and othee employee groups.
“There’s a lot of turmoiol in the mortgage industry,” said Fred Becker, CEO of Arlington-basef NAFCU, a trade organization representing federalcredit “This is reflective of that turmoil, in that people are turninh to credit unions either to refinance or to purchase a The alliance between Arlington-based NAFCU and District-based Fannir Mae was formed in 2002 to give federakl credit unions more flexibility in their mortgagse operations. About a dozen Washington-area institutionsa participate inthe alliance, which allows creditr unions to sell mortgages directly to Fannie Mae. Many credity unions hold their mortgages ontheir books.
But with low mortgagre interest rates fueling arefinancing boom, many lenders must sell more of theier mortgages into the secondary market to get monet to meet the demand for more loans. Such was the case at Chantilly-basexd Justice Federal Credit Union, which serves employees of the departmentxs of Justice andHomeland Security. It has seen its year-to-date mortgage lending volume more than double from ayear ago.
“Withu mortgage rates at historic lows, our production, like that of many is at record levels,” said CEO Peter “Having the NAFCU alliance with Fannie Mae is helpinf us when we needit Year-to-date, Justice Federal has sold off aboutg 30 percent of the mortgages it has originated — about twice the proportionh it usually sells. A surge in demand for fixed-rate mortgagexs led Kensington-based Lafayette Federal Credit Union to sign on tothe NAFCU/Fannir Mae alliance in February.
“You only have so many dollarszto lend,” said Bob Kemp, senior vice president of Access to the secondarg market “creates a newfound liquidity that allows you to make more loanas to more members.” He estimatees that loan originations are up 20 to 25 percenft from a year ago, although now that Lafayette Federal has increasefd capacity, it plans to market mortgagesz more heavily. Lafayette Federal serves anyonewwho lives, works or practices religiojn in parts of Montgomery County and D.C., as well as the employeese of various government agencies and othee employee groups.
Wednesday, June 1, 2011
BofA
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According to Dow Jones Newswires, Edolphus Towns (D-N.Y.) and Denniws Kucinich (D-Ohio) have asked Lewias to appear Thursday before the House Committee on Oversightr andGovernment Reform. Towns and Kucinicjh have been investigating BofA’s acquisition of Merrillp and the government’s decision to give the Charlotte-baseed bank billions of dollars intaxpayer aid. Accordinh to the news agency, they want to know when BofA founcd outabout Merrill’s weakened financial situation and how the role the federalp government played in BofA’s decision to completd the deal. Lawmakers also want to know what BofA has done with the federao aid ithas received.
A BofA spokesman told Dow Joned the bank will respond to the committee BofA bought the Merrillon Jan. 1 for $29.21 billion. The deal resulted in BofA’ws receiving an additional $20 billion in federak funds under the Troubled AssetRelief Program. BofA has receivex a total of $45 billion in TARP In February, Lewis testified under oath before New York Attorneyu General Andrew Cuomo that Federak Reserve Chairman Ben Bernankeand then-Treasury Secretarh Henry Paulson pressured the bank not to discuss its increasingl troubled plan to buy Merrill. Lewis said he believexd Paulson and Bernanke were instructing him to keep silenabout Merrill’s financial problems. Merrill lost $15.
3 billion in the fourth Lewis has been under intensre pressure from BofA shareholders for not disclosingv the depthof Merrill’s financiak difficulties before the merger. His testimony was part of an investigationm launched by Cuomo intothe $3.6 billiohn in bonuses Merrill paid out in December. Cuoml has contended BofA (NYSE:BAC) was aware of Merrill’s decisiohn to award bonuses beforethe company’s fourth-quarter losses were The bank has said Merrill was an independeng business when the bonusews were approved. North Carolina’s attorney general and the Securitiee and Exchange Commission are also investigatingthe matter.
According to Dow Jones Newswires, Edolphus Towns (D-N.Y.) and Denniws Kucinich (D-Ohio) have asked Lewias to appear Thursday before the House Committee on Oversightr andGovernment Reform. Towns and Kucinicjh have been investigating BofA’s acquisition of Merrillp and the government’s decision to give the Charlotte-baseed bank billions of dollars intaxpayer aid. Accordinh to the news agency, they want to know when BofA founcd outabout Merrill’s weakened financial situation and how the role the federalp government played in BofA’s decision to completd the deal. Lawmakers also want to know what BofA has done with the federao aid ithas received.
A BofA spokesman told Dow Joned the bank will respond to the committee BofA bought the Merrillon Jan. 1 for $29.21 billion. The deal resulted in BofA’ws receiving an additional $20 billion in federak funds under the Troubled AssetRelief Program. BofA has receivex a total of $45 billion in TARP In February, Lewis testified under oath before New York Attorneyu General Andrew Cuomo that Federak Reserve Chairman Ben Bernankeand then-Treasury Secretarh Henry Paulson pressured the bank not to discuss its increasingl troubled plan to buy Merrill. Lewis said he believexd Paulson and Bernanke were instructing him to keep silenabout Merrill’s financial problems. Merrill lost $15.
3 billion in the fourth Lewis has been under intensre pressure from BofA shareholders for not disclosingv the depthof Merrill’s financiak difficulties before the merger. His testimony was part of an investigationm launched by Cuomo intothe $3.6 billiohn in bonuses Merrill paid out in December. Cuoml has contended BofA (NYSE:BAC) was aware of Merrill’s decisiohn to award bonuses beforethe company’s fourth-quarter losses were The bank has said Merrill was an independeng business when the bonusews were approved. North Carolina’s attorney general and the Securitiee and Exchange Commission are also investigatingthe matter.
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