Maderis stepping down from Five Prime - Triangle Business Journal:

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The company has hired Julia Gregory, the forme r executive vice president and chief financial officerrat , as Maderis’ replacement. Maderis’ healtuh condition was not disclosed, but she will continue to serve onFive Prime’s board of directors and as a Her final day on the job is June 18. “Gail’ds leadership has been pivotal in the progress Five Prime has made in developingh our pipeline and our new discovery said company founder and executivechairmanj Dr. Lewis “Rusty” Williams in a press release.
Maderia said the company had been looking for a replacementf since late last year after doctorssaid "thr 24/7 pace of a small-company could worsen her condition. Besides her duties at Five Maderis has been a cheerleader for the MissionhBay enclave, serving on the Mayor’as . Five Prime, a privately held, 7-year-old companyh developing antibody and protein drugs for cance r andother diseases, was the first to locatee in Mission Bay, taking about 30,0090 feet in the building on Owensa Street. Earlier this year, it took an additional 5,000 square feet next door at 1700 Owenws as it makes batches for its Phase I oncologytdrug program.
The timing of the executive change as Five Prime moves forward with its lead cancerf programmakes Gregory’s appointment a crucial one. At Gregory was responsible forfinancing strategies, mergersw and acquisitions, business operatione and all financial management and She raised about $1 billion in publif and private equity, product development financing and othef transactions. Gregory, who will join Five Prime’s board, was an investmentf banker for more than20 years. At and Read & Co. Inc. she was head of healthcare andinvestment banking, leading several private and publicv equity deals as well as mergers and Gregory also is a member of the board of The and the ’s .

Pizzuti division launches into space with deal for NASA-focused project - Business First of Columbus:

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Space Florida, a statde agency, selected this month to design, market and manag e the research park and develop office and industrial The 60-acre first phase of Exploratioj Park will include eight buildings totaling 315,00o0 square feet, said Pizzuti Executive Vice Presiden t Jim Russell. The first 25,000- to 50,000-square-foot building, to be anchoredf by Space Florida, is expected to be built by early 2011. “It’s really an opportunity to expand our servicess into science andtechnology deals,” Russell said. Space shuttle astronaut and formefr COSI CEO Kathryn Sullivan has assisted Pizzuti Solutions asthe developer’ s science and technology adviser.
Price tag of Holidayu Inn conversion risesto $8.5M coulde have 458 student tenantxs as early as this fall if can get througg its $8.5 million renovation plan this summer. OSU trusteee April 3 approved the renovations and acquisition of the propertyfrom . Campuse Partners paid $19 million for the 11-story building at 328 W. Lane Ave. Marcbh 31. The cost of renovating the buildinbg has risen from an estimateof $6 million made in when Campus Partners signed its deal with and OSU took a look at what it woulxd take to convert guest rooms into apartments.
“W have more information to give us a more realistic of renovations, said William Schwartz, the university’x associate vice president for student The first phase of renovations doesn’ft include installing new windows, which couled add as much as $3 million. Schwartz said the university’s use of the building will give it flexibility as it renovated other campusresidence halls. Prosthetics developer has tentatively chosebn to put its North American operationsdinto 6,000 square feet at the One Mill Run officer tower as Hilliard officials consider an incentive packager to seal the deal.
The Scottishg company receiveda six-year tax credit valuee at $101,400 on March 30 from the to creat e at least 20 jobs at an unspecifiesd Central Ohio location. The Mill Run tower, which overlooks Interstates 270, beat out buildings at 5747 Perimeter Driv e in Dublin and 5675 Feder Road in Columbue forthe administrative, research and production Agents Matt Gregory and Andy both from , are representing Touch Bionics in the search. Andy Jameson of is the agent for the owne of OneMill Run. The publishe of the UWeekly newspaper has signesda seven-year lease in downtown Columbus. , once namee University Media Group, moved in late Marchh from 1029 Dublin Roadinto 7,509 square feet at 454 E.
Main St. Agentf Doug Falor of represented 614 Media inthe deal, whild agent Christina Bell of representesd landlord . The relocation was made amid 614 Media’ss launch of its latest publication, 614 Magazine. Browhn Logistics leases property, awaits closing has leasefd the former warehouse at 2100Cloverlearf St. in Columbus in a deal that will lead to the sale of the propert to an affiliate ofBrown Logistics. The compan y and its In Motion Promotion division will occupytthe 151,972-square-foot distribution center near Interstate 70-Hamilton Road. Agent Scott Hrabcak of represented Brown Logistics and affiliatwe inthe deal. Shane Wolosha n of Adena Realty representsthe seller, .
The propertyt remains in contract.

BioSante to buy Cell Genesys for $38M in stock - Triangle Business Journal:

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BioSante (NASDAQ: BPAX) will pay 0.1615 of its own common shares for each shar of CellGenesys (NASDAQ: CEGE). This deal should closer later this year, likely in the late thirdx or earlyfourth quarter. In the first Cell Genesys lost $8.7 million, or 10 cents a share, narrowede from a loss in the same period last yearof $22.5 million, or 29 cents a The company had been exploring strategic alternatives, including merged with or acquisition by anothedr company, additional restructuring, repurchase of additional amountws of convertible notes or allocation of its remaining resources toward other biopharmaceutica product areas. Cell Genesys had hired to help it figurer outa strategy.
The company already cut aboutt 95 percent ofits staff, from 290 persons to 16, by eliminatinb all research and development, manufacturing, clinical and regulatory activities. based in Lincolnshire, Ill., focusea on drugs for sexual health.

S&P lowers outlook for HEI, HECO - Dayton Business Journal:

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Standard & Poor’s said Hawaii is “exhibiting decidedly recessionarh trends,” and that its dependence on tourism to drivd the local economy could mean the stater will be more severely affectec bythe recession. “The negativs outlook assigned to HEI reflects the potential for consolidates credit metrics to fall below our benchmarksz over our outlook horizon dueto Hawaii’sd weakening economy, which is expectes to lower electric sales by 4 percenrt or more and put upwarfd pressure on borrowing requirements,” S&P , a subsidiary of HEI, is rater on a standalone basis and is not affectedc by the lowered outlook.
Shares of Hawaiian Electrivc stock weredown 1.6 percent to $16.95.

Forestar lost $3.9M in Q1 - Austin Business Journal:

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Austin-based Forestar (NYSE: FOR) lost $3.9 million, or 11 centzs a share, compared with a loss of $200,000, or a penny a in the first quarterof 2008. The most recen t results includeapproximately $3.2 milliobn paid to outside advisors to evaluat e an unsolicited shareholder proposal. Revenue for the quarted dropped 21 percentto $29 million. Despite the bigger loss, Forestar's shares increased 9.5 percent on Wednesdagy to $13.74.
“Market conditions continue to be challenging for each of our saidJim DeCosmo, president and CEO of Forestar “Even with a significangt slowdown in real estate we are focused on positioning Forestar to generate positivre cash flow by significantly reducing investment in real estatwe development and lowering costs.” Earlier this week Forestar announcecd an agreement to sell about 75,000 acres of timberland in Georgia and Alabama to of Bostonh for $120 million in cash. That deal is slate d to close this quarter.

Soft 2008 residential real estate market costs brokerages millions in lost sales - Kansas City Business Journal:

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The soft residential real estate market, brokeres say, is the result of dwindlinv consumer confidence and tighter credit requirements from mortgagw lenders that made it more difficult for some buyersz to obtainfinancing — something that hasn’t changed. Home appraisersx also have been conservative. “Th e pendulum always swings one waytoo far. I thinik that’s probably what we’ll see over the next few saysWayne Short, owner of . But at leastg one local company saw its 2008numbersd increase. increased its residential salesvolumer 2.9 percent, from $109 milliob to $112.
3 million, a boosf the company’s CEO Tim Holt says was the resulrt of increased production, especially in the high-en market. “Our agents were working pretty Holt says. “We had better production than theyear Overall, brokerages still are experiencing down numbers through the first half of 2009. However, some say the marker is showing signsof recovery. Tax credits for first-timed home buyers, lower prices and attractivse mortgage rates are helping drive pending salesd of existinghomes — contracts signed, but not closed. In pending sales climbed 6.7 percent, according to the , postingh its fourth increase nationally in the lastfive months.
And May figured look to be up, too. “We certainly hope it is an indicatioh that the market is heading in therigh direction,” says Willie president of . brokerages are trying to offset losses insales • retained its hold on the top marketr share, but lost 14.8 percent, or $79.89 million in total residential sales. The company’s 2008 figuresw totaled $453.4 million, accordingt to WBJ data. “The bottom line is, througyh April, the board is down about 27 percent,” says Nestor Weigand, the company’s chief executive. However, the company’s markeyt share has increased 3.5 percent, which Weigand “is huge in the real estat e market.
” • Prudential rankse No. 2 on the WBJ list with $397.2 milliomn in 2008 residential sales, down 9.1 percenty from the year “In general, the economyg certainly has an effecyon (the housing market),” Kihle As aircraft plants announced layoffs people became increasinglh worried about losing theifr jobs and weren’t interested in buying a new home, Kihl says. • Sales volume at dropped 11.1 percent.
Fran Stucky, Coldwell’s CEO, says the downturn the rest of the countryy started experiencing months earlier finally made its way tothe

Redistricting needn't be as messy as county made it - TheNewsTribune.com

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Redistricting needn't be as messy as county made it TheNewsTribune.com One has been successful in redrawing political lines three times running, the other has degenerated into bickering and accusations of gerrymandering the last two times it has been used. So which is better? Is it Washington state's Redistricting ... and more »

Prosecution present evidences before Court - IBNLive.com

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Prosecution present evidences before Court IBNLive.com PTI | 07:07 PM,Jul 09,2011 Guwahati, Jul 9 (PTI) The court conducting the court martial of Sukhna land scam accused Lt Gen (retired) Awadesh Prasad today admitted evidences from the prosecution.In a brief hearing held at the 51 sub area army military ... and more »

Retail Brokers Inc. principals face lawsuits related to investments - Pittsburgh Business Times:

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million in loans from an Oklahoma bank tothe pair’e real estate partnerships. The two men also are defendantzs in three investor lawsuits claiminv they mismanaged investments in their retail realestate endeavors. The developers are trying to settle theinvestod complaints, according to several attorneys familiar with the In 2008, the pair settled a similar investor suit out of Barness and Papakyriakou, principals of Scottsdale-basedc , own shopping centers in Tempe, Gilbert and Glendale. They operate each center unded a separatebusiness partnership.
The pair also are involvecd in a numberof Phoenix-area charitable Barness, for example, is active with local Jewish community causes and helpe d raise money for Arizona Sen. John McCain’ 2008 presidential bid. Papakyriakou also goes by the name Alex The filed its suits in late January in Maricopqa CountySuperior Court, claiming the developers failed to pay back three loane totaling $9.5 million, according to court Mike Manning, Phoenix managing partne r of , the law firm representing the declined to comment on the pending “We cannot comment on the Manning said. RBI and Barness’ charitable foundatiomn did not respond to requestsfor comment.
No officialo response to the lawsuit was filed by the defendantzs bypress time. The investor lawsuits were file in Maricopa County Superior Court against Barnessand Papakyriakou’w real estate businesses. Those three investoer claims may be consolidated under Maricopa Superiort Court Judge John Buttrickl andsettled together, according to legal sourcese who would not go on the record. Barnesse and Papakyriakou’s attorney, Jeffrey Leonard, said he expects the investord lawsuits to beresolved soon. He said the resolutions would be viamutua agreement, but declined to say whether they wouldx involve out-of-court settlements.
Leonard also would not commengt about the resolution or settlementy of the 2008investor lawsuit. Barnesse and Papakyriakou did not comment forthis story. Otherr lawyers familiar with the investoer suits said a settlement is being Robert Mitchell, the investor/plaintiff’s attorney in the 2008 claimk against Barness and Papakyriakou, said he could not “All I can tell you is that the case was he said. The 2008 case claimed Barness and Papakyriakou deceive d investorswith self-deals and misrepresented sale s and financial proceeds.
One of the 2009 in-vestord suits was filed by Phoenixcardiologist Na-than Laufe and four other investors who say Barnes and Papakyriakou raised as much as $400 million in equith investments and loans for theie real estate and shopping center businesses. They claim the defendantsa “wrongfully diverted nearly $50 million to themselves,” accordingb to court documents. The Laufer suit also contends Barness and Papakyriakou improperly used investment money in some dealx between business entities they and that the sales benefited the defendants but not the The suit claims breach of contract and failure to meetfiduciaryu responsibilities.
Plaintiffs in the Laufer case say theyinvestee $1.3 million in Barness-Papakyriakou real estatee endeavors. Attorneys representing the plaintiffs in the Laufer case woulxnot comment. A second investor filed by the Eugene and Lenore SchupakFamily Trust, claims the trust investesd $10.4 million in Barness- and Papakyriakou-owner shopping centers in Arizona and real estate partnerships. The same suit contendsx anotherfamily entity, Schupao Partners I, invested $953,000 in Castle Yuma Dev Partners, an investmen entity created by the defendants.

Politicians want answers as rumors swirl NCR to leave Dayton - Minneapolis / St. Paul Business Journal:

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Government officials said word beganb swirling in the community Thursday thatNCR (NYSE: NCR) is planning to move its headquarters and 1,300 employees to the Atlants area and make an announcement about the move this week. NCR Global Spokesperson Richard Maton, speakingb by phone Saturday from London, confirmed that an effortf was made forOhio Gov. Ted Stricklan and NCR Chief Executive Officer Bill Nuti to however they were not ableto connect. Strickland’s spokesperson said Saturda that heis “continuing to reach out to the companty to have a direct conversation.
” When asked about NCR possibly movin its headquarters out of Dayton, Maton said the company does not respond to rumors and NCR Corporate Spokesperson Alan Ulman responded to questions about NCR’se plans with an e-mail messagew Saturday that read: “We have no announcement In the past, NCR has been quicjk to deny rumors of its relocatiojn and affirm its commitment to remainingt in Dayton.
The has repeatedly sought information from the companusince Thursday, but NCR had not responded to their requestw as of Friday evening, a development department spokesperson Montgomery County Commissioner Dan Foley said he is frustrated by the lack of Foley said he has asked multiplse company officials, via to respond to the rumors, but has yet to receives any information. Foley said he, along with other state and city of Dayton have met with NCR representatives in the past in an effor t tosafeguard NCR’s local jobs.
“Alll that said, nobody has confirmed to me that theid statushas changed,” Foley said “I have to assume that -- I I very much hope -- they are staying in Dayton, because our citizens have helped builf that company up to be world-claszs and will continue to do so.” Rumors have long circulater that the company would move, however multiples government and economic development officials said they reacheed a new level in the past few days. NCR is said to be seekiny about 100,000 square feet of office spacein Georgia, . NCR is believedf to have looked at sitezsin Savannah, and Columbus, Ga.
Based on the square footagew estimates, the operation could house about 300 to 400 according to realestatr sources. Georgia government and economivc development officialsremained tight-lipped on any potentia development. In October, NCR said it would move its Worldwide Customefr Services headquarters to anAtlanta suburb, investingv $15 million and creating more than 900 jobs in the suburbs of Peachtreer City and Deluth. The state of Georgia providecd morethan $8 million in incentives, according to officials. NCR, founderd locally in 1884, is the Dayton region’s seconxd largest company, with 20,000 global employeesw and $5.3 billion in revenue in 2008.
The which sells ATMs and retailautomation systems, is Dayton’s lone remaining Fortune 500 company. At one the company had more than 18,000 employees in the Daytonn area, but that numbeer has dwindled during the past several As recently as twoyears ago, NCR had abouty 2,000 Dayton employees. That number has declineed by about 700 workers in the pastseveral years. In 2007, NCR announced it was relocating its executives offices to New York City and leasing an entire floor of the 7 Worlxd TradeCenter building. But, on paper, its headquarterx remained in Dayton.
In March, the company also told employees it is undergoinh a structural reorganization and would cut an unknown amoung of itsglobal workforce. That same the company removed thelanguage “world headquarters” from the sign at its Daytobn campus, though it said at the time it was just

Restaurant industry outlook improves - Triangle Business Journal:

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The Association’s Restaurant Performance or RPI, is a monthly composite indes that tracks the healthu of and outlook forthe U.S. restaurantg industry. It stood at 98.6 in up by 0.8 percent from March, its highesy level in 11 months. The findingw are in line with bullisy data reported in theMay 25, 2009, issue of Trianglw Business Journal that indicated restaurants in Wake County generally are faringy well. The data show that from July 2008 throughFebruaru 2009, Wake County collected nearly $11.8 millionb from a 1 percent tax on preparec food and beverages.
That’s almost a 7 percenr increase fromthe $11 millio n collected in the same period in the previouxs fiscal year, according to information provided by the Hudson Riehle, senior vice presiden of research and information servicesz for the National Restaurant Association, “The recent growth in the RPI was drivemn by the ‘expectations’ component, which rose abovre 100 in April for the first time in 18 months, a level which indicatex expansion.
” “Although the RPI’s ‘current situation’ indicators are stillp in a period of contraction, the soli d improvement in the forward-looking indicators suggestz that the end of the industry’s downturbn may be in sight, says Riehle. The RPI is base d on responses tothe association’s Restaurant Industry Tracking Survey, which is fielded monthly among restaurant operators nationwide on a variety of indicators, includinvg sales, traffic, labor and capital expenditures. The index consistse of two components — the Current Situation Index and theExpectations Index.
The Currengt Situation Index, which measures current trends in four industrgyindicators (same-store sales, traffic, labo r and capital expenditures), stood at 97.0 in April, up by 0.9 percenft from March and its highesgt level since August 2008. April represented the 20th consecutive montghbelow 100, which continues to signif contraction in the current situatiohn indicators. Restaurant operators reported negative customer traffic levelsw for the 20th consecutive montyhin April. About 23 percent of restaurant operatorxs reported an increase in customer traffic betweem April 2008 andApril 2009, up from 20 percent who reportede similarly in March.
Also, 60 percent of operatorzs reported a traffic declinein April, down from 63 percen who reported similarly in March. Restaurant operatorz also continue to grow more optimistic about the with 37 percent sayingt they expect economic conditions to improvwe insix months, up from 30 percent who reported similarlt last month and the highest levelk in three years. In only 16 percent of operators expect economic condition s to worsen insix months, down from 21 percent last The Washington, D.C.
-based National Restaurant Association is a businesss association for the restauranf industry, comprising 945,000 restaurant and foodservicse outlets and a work force of 13 million

Truckers, air to benefit from $2 million ARRA state grant - Dayton Business Journal:

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Truck stop electrification systems provide heating and coolingg for sleeper cab compartments and power to runelectrical appliances, such as computers and microwaves. TEE systemds also allow trucks outfittedwith on-board equipmenty to plug in to operatse necessary systems without idling the engine. "To help improver highway safety, truck drivers are required to rest for 10 hourss after driving 11 and trucks idling for extended periods impact air qualitt and can be costly fortheir Gov. Phil Bredesen said in a statement.
"The electrification infrastructure that will be installes through this Recovery Act grant will allows truck drivers across Tennessee to reduce diesel save money and remain comfortable when The state project was one of 99 projectsz in the Southeast submitted to EPA requestingt morethan $140 million in Recovery Act discretionart grant funds to improve air The project will also save trucking companiesw the cost of fuel that would be used when idling. The EPA estimatezs that annual fuel savings couldexceed $3,240 per The estimates that approximately 5,000 truclk stops in the U.S. offefr parking and other includingfueling stations, restaurants, stores and showers.
The Recovery Act grang will allow TDOT to solici competitive grant applications from truck stop companiews to purchase and install TSE technologyt at truck parking spacesat 6-10 truck stops alongg Tennessee's interstates. To prepare their truck stops will seek bids from TSE technology Truck stops may request up to 100percengt funding, although adding matching dollars will strengthen their application.
Grant selection criteria will include thetruck stop's proximity to areas with largw volumes of diesel trucks, cost-effectiveness in terms of averagw cost per TSE parking space, the matc h (if any) provided by the company, amenities offeredd by the truck stop to attract truckers, the qualitu of the truck stop marketing plan, willingness to establish idle-frere zones at the truck stop, and ease of acceses from the interstate. The request for trucko stop applications will be published in earlu July and will allow about 60 days for the preparatiojnof applications.
Information on the program will be postefd on the TDOT Web site at The Recovery Actallotted $300 million for the Nationalo Clean Diesel Campaign, of which the National Clean Diese l Funding Assistance Program receiveed $156 million to fund competitive grants across the The Recovery Act also included $20 million for Nationa l Clean Diesel Emerging Technology Program grantsa and $30 million for SmartWay Clean Diesel Financs Program grants. In addition, under the Recoverty Act’s State Clean Diesel Grant a totalof $88.2 million has been providedc to states for cleam diesel projects through a non-competitive allocation process.