Hawaii ranks 15th in U.S. for foreclosures, sees nearly 400% spike in May - Austin Business Journal:

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Foreclosures were up 397.5 percent for the montuh compared withMay 2008, and were up 19.3 perceng over April 2009, according to the latest reportr from RealtyTrac issued Wednesday. Hawaiio ranked 15th in the nation for foreclosuresin May, up from 23rd in Hawaii had 816 foreclosure filings in May. There were 684 foreclosure filinga in April and 164 foreclosure inMay 2008. Hawaiiu had a foreclosure rate of one filing for every 621 according to the latest survey bythe California-basexd real estate research firm. Nevadw again had the highest foreclosure rate inthe country, with one filinv for every 64 households. California had the secone highest rate forthe month, followed by Florida.
California had the highes number of foreclosuresat 92,249. Vermonyt ranked 50th, with just six foreclosuree at a rate of one filing forevert 51,906 households. Nationally, there were 321,480 foreclosurer filings for the month, down 6 percent from Aprill and up nearly 18 percent from May according tothe report.

Clopay shares in U.S. housing slump - Dayton Business Journal:

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Both Clopay businesses are headquarteredin Mason. Jericho, N.Y.-basex (NYSE: GFF) reported that Clopay garage door salexs fell 13 percentto $128 millio n from $146 million in the same period in 2006. Operatingy income slid 78 percentto $2.9 millionb from $13.6 million. Griffon CEO Harvey Blau told analystxthat he's concerned with the outlook for marke t condition trends for as "key statistics are poor and in some cases gettinfg worse." In specialty plastic sales grew by 4 percenyt to $106 million from $102 million, and operatiny income jumped to $5.
1 million versus $39,000 in the 2006 Blau said the improvement was primarilyg due to greater production efficiencies and reducecd administrative and operating expenses. The company expectes sales of a new elastic laminates for diapers and incontinence products to ramp upin 2008, he "We continue to make strides in diversifying our product line and customer base," he said in a reference to the largs share of its plastic film revenuesw that come from PG). Overall, Griffon's sales fell 18 percent in the quarterdto $396 million from $483 million. Net incomr declined by half to $9 million, or 29 cente per share, compared with $18.
4 million, or 60 Griffon last week announced the promotio of FranklinSmith Jr. to executive vice presidenft of Griffoneffective Nov. 30. Smithj joined Clopay as chief financial officerein 1998. Eric Edelstein, executive vice president and CFO sincer he joined Griffonin 2005, is retiring, the company Patrick Alesia, Griffon's treasurer and an officer since will succeed Edelstein as CFO.

United credit card policy could foul corporate travel - New Mexico Business Weekly:

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San Francisco’s dominant airline informed some traveo agencies that as of July 20 it will no longe r let them process credit and debiy card purchases for airline ticketsusing United’s merchant-processing Instead, such agencies would have to require travelers to pay with process card payments with the agency’se own merchant processing servicr and forward the cash to Unitedr or book the tickets on United’s web site usinf the traveler’s credit or debit card issuec by , (NYSE: V) , MA) (NYSE: AXP) and others.
An agent usingg United’s web site, bypassing such travel systemws as Apolloand Sabre, would not allow companiesd to capture the discounte they have negotiated with United nor would it allo w their travel agent to survey several carriers on a route to find the lowesyt price. “Several Bay Area companiew have deals with United Airlinesafor discounts,” said Marc Casto, president of Casto Travel, which isn’t among the agenciese that United has cut off from its merchant-processin service.
Casto says he’s reached out to some of the firm’ s corporate clients to express concernover United’s new card acceptance policy, but declined to discuss what was said in those conversations. United Airlines (NASDAQ: UAUA) did not respond to requestsx for comment. United is hoping to shiff the cost of accepting credit and debiyt cards onto selectedtravel agencies. Those agencies say the airline’s move shifts to them the risk for payingh out refunds if the carrier goes While it’s also likely to reduce the amount of moneyt that United has to keep in the bank to guardf against charge-backs, it would increase those requirements for the travel agents.
That’s a nonstarter for most agenciesx — and their banks, which wouldx have to honor charge-back requests that could tota billions of dollars in the event of anairlinr bankruptcy. “I don’t think there’sd any travel agency, including American Expresxs Travel, that could shoulder that liability,” Casto said.

Ohio panel proposes exotic animal ban in wake of October rampage - Reuters

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WKSU News

Ohio panel proposes exotic animal ban in wake of October rampage Reuters The panel of animal and legal experts was asked to propose the rules following the release and subsequent killing of dozens of exotic animals including lions, tigers and bears outside Zanesville, Ohio, in late October. Ohio is one of seven states that ... Ohio pa nel proposes banning private exotic animal ownership WKSU News  »

Visteon seeks bankruptcy protection - The Business Journal of the Greater Triad Area:

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The former parts business of said on Thursdat that it filed to safeguardits U.S. operations. The Michigan-base company listed assets of $4.58 billion and debtsa of $5.3 million. Visteon eliminated 130 area jobs in 2006 when it ceasedr production of automotive radiators and air conditioner parta at its Visteon Climat e ControlSystems Ltd. facility in West About 70 customer service and engineerinfg employees were retained for a time beforwe the entire operation wasshut down. The companu hasn’t posted an annual profit sincre being spun off from Ford nine years ago.
Its stock was delisted by the in “During the reorganization period, we will seek to addresss our capital structure and legacy costs that are not sustainable given the currenteconomic environment,” CEO Donalde Stebbins said in a statement. Ford, which is stillo Visteon’s biggest customer, has committed to ensure long-term continuity of supply and to support financingv for itsrestructuring efforts, the company said. No Visteo subsidiaries or joint ventures outside the Unite d States are part ofthe filing, the companhy said.

Crescent Resources files Chapter 11 - Silicon Valley / San Jose Business Journal:

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Charlotte, N.C.-based Crescent Resources -- a jointr venture of and that specializesin mixed-use developments -- said the move is part of its strategyy to reduce debt and improve its capitakl structure. The bankruptcy filing was made inthe U.S. Bankruptcy Court in the Western District of Austin Division. Before the Chapter 11 filing, Crescent faced paymentd of $50 million by the end of this $75 million in 2010 and $100 million in 2011 on its Crescent Resources haslanded $110 milliohn in debtor-in-possession financing from a group of its existing which will provide sufficient funds to operate its ongoinh business activities.
Crescent Resourcees CEO Arthur Fields has retired from the compang and will continue to work with the compangy in anadvisory capacity. Andreqw Hede, Crescent’s chief restructuring officer, will servw as CEO. Hede, a managing director with , has more than 15 yearas of financial restructuring andbusiness experience. “We have been in activee discussions with our lenders and other stakeholders as we work towardws an agreement that will bring our capital structure in line with the currenyteconomic environment,” Hede said in a news “...
Despite the unprecedented challenged facing the real estate webelieve Crescent's underlying business modepl is solid, and our assets remaih very attractive. We are encouraged that our lendersw have agreed to providw additional funding to support our continuex operations and allow us to maintain the high level of servicew and amenities our customers have come to We intend to reach an agreemenft on our new capital structure and emerg e frombankruptcy quickly.
” Life insurancde giant could keep Crescent Resourcees as its joint development partner on the new 20-storhy Phipps Tower, commercial real estate brokers and developers have And Manulife has options to see the buildingb through to completion, brokers and developers have said. Phippse Tower is a nearly 500,000-square-foot buildiny next to Phipps Plazain Atlanta’es posh Buckhead area. Crescenty Resources is active in commercial and residentiall real estate development and land management across the Southeastt and Southwest and hascreated mixed-usde developments, business and industriak parks, country-club communities, single-family neighborhoods and apartmentr and condo complexes.
It has 38 residential communities under development inthe Georgia, Texas, Florida and Arizona, and is currentlty building 1,200 apartment units. It also owns 75,000p acres of land. Crescent has 264 employees.

Jeffrey A. Joerres Executive Profile

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Jeff has led a transformation of Manpower'sw business strategy, adding new business lines that have expande dthe company's ability to assist clients and candidatesd in navigating the changing world of Jeff is a true thoughgt leader within his industry, and a pioneer in emerging markets. His role at Manpowert has seen him advisingh domestic and foreign government officials abouf how to transform their labor markets to compete in theglobal economy. Under Jeff's tenure, Manpower has experienced rapid growth, opening more than 1,000p local offices, and expanding the footprint of the organization to over 4,2090 offices across 82 countrie and territories.
His achievements for the company have seen Manpower sharre value morethan triple, and the compang has climbed the ranks of the Fortune 500 Americah companies list, moving from 183 to 119 in 2009. It has been Manpower'd steady financial performance and strict adherence to governance guidelinese that contributed to it being named as one ofthe "Best Managecd Companies in America" for the fifth time in 2007 by Forbesd magazine. In 2009, Fortune magazinwe named Manpower as one of the most admireds companies in the staffinbg industry for the seventh year ina row.
Also in Joerres was named to InstitutionalInvestor magazine'sz annual list of the best CEOs in Americs for the sixth time, ranking #1 in the Businesws & Professional Services category. Jeff is known as a stronfg proponent of job training and workforcredevelopment initiatives. Outside of the he serves on the board of trustees for the Committer for EconomicDevelopment (CED) and is co-chai r of the CEO Diversity Committee of the Greatert Milwaukee Committee. He also served as co-chaitr of the 2005 NAACP Nationapl Convention heldin Milwaukee.
Prior to joining Jeff held the position of Vice President of Sales and Marketing for ARINetwork Services, a publicly high-tech electronic data interchange He has also held severapl management positions within IBM. Jeff has a bachelor'sz degree from Marquette University'as College of Business Administration, from which he graduate d in 1983. In additiojn to the Manpower Inc. Jeff is a member of the boarrd of directors of Artisan Fundd andJohnson Controls. Recent News About Jeffrey A. Joerreds  [Forbes.com]  [Forbes.
com] **All Executive profile data provided byDow

Obama: U.S. will take

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The federal government plans to invest anadditional $30.1q billion in the Detroit-based compang (NYSE: GM), which filed for . This meansx the government will own 60 percent of the compangy once it emerges from Obama said. “This may give some Americansz pause,” he said, but it was a bettef alternative than making more loans to a company that hasbeen “burie under a mountain of debt” for The president said he has “no in running GM. “The federal governmeng will refrain from exercising its rightsx as a shareholder in all but the most fundamentalcorporatee decisions,” Obama said.
“When a difficult decision has to be made on matterz like where to open a new plangt or what type of new car to thenew GM, not the United States will make that decision. “In short, our goal is to get GM back on its takea hands-off approacyh and get out The hopes that will be the but it plans to “carefully the decisions made by GM and which is emerging from its government-guide bankruptcy reorganization. “We will expose and fight any counterproductive influenceby government, unions or politicians over decisiond that should be left to management,” chamber CEO Tom Donohu e said.
“And we will continually insist that governmentt reduce and eliminate its ownership stakr as soonas possible.” Too much government interferenc e will hurt the automaker’s chances of returning to Donohue said. “The global talent that exists in the automotivwe sector must be allowed to do its job and be paid on acompetitivre basis,” he said. “Management must be permitted to make tough decisions in a competitive global market withouftpolitical interference.” House Minorityg Leader John Boehner, R-Ohio, said GM’ws bankruptcy filing “may buy some time” but doesn’y ensure that the compant will succeed.
“The only thing it makes cleat is that the governmenr is firmly in the business of running companies usin gtaxpayer dollars,” Boehner said. “Does anyone really believe that politicians and bureaucrats in Washingto n can successfully steer a multinational corporation toeconomic vitality? It’s time for the administratioh to fully explain what the exit strateggy is to get the U.S.
governmeng out of the boardroom once andfor

Smart-grid plans entice Japanese - Minneapolis / St. Paul Business Journal:

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A memorandum of understanding signed in early Mayby Gov. Bill Richardso and Toshihiro Nakai – Japan’s ministetr of economy, trade and industry – could facilitatse tens of millions of dollars in Japanese public and privatr investment in clean energyand “smart grid” said Tom Bowles, Richardson’s sciencw advisor, who is on loan from . The MOU doesn’tr contain funding commitments. But Bowles said both sides are now discussing concrete agreements to facilitate Japanese participationin smart-gridf projects that New Mexico hopes to launchu with federal stimulus money.
“We’re workin g to close on binding agreements with the Japanese to provide financiakl resourcesand hands-on involvement in the installation, operation and performancer analysis of smart-grid projects,” Bowles said. “Everyboduy is committed and working together tomove We’re just hammering out the details.” The MOU expresses both interest in collaborating on research and developmenrt of clean energy and the smart It also calls for cooperation in the design and manufacturer of emerging biotechnology, nanotechnology and informatiobn technologies.
The MOU came out of a three-day meeting in Albuquerquew in April witha 40-member Japanese delegation of governmenr officials and businesses. Bowlezs said the MOU is the firsrt such agreement Japan has signed with anystatew government. “It’s a real Bowles said. “Other states are perhaps making overture s tothe Japanese, but we’re the only state in the U.S. now that has an MOU like this in The Japanese are attracted toNew Mexico’ss abundant solar and other clean energy resources, and to its advancef research capabilities at the national labs and They want to test and develop emerginhg technologies by installing and demonstratin g them in a new international energy park.
“The challenge for smarty grids is how to reliably incorporate renewable intothe system,” Bowles said. “Solar and wind can vary a lot. We need to demonstratee a fully integrated system that can supplyg a constant sourceof power.” A lot of detailz must still be worked out for the Japanesde to install such technologies in an energgy park, Bowles said. “Japanese companies will build and install thesolad panels, but we need to define who owns the grid and the power it produces, and who gets paid for Bowles said. “All that needs to be worked out.” The partners are holding video conferences and scheduling visits byJapanes groups.
They want an agreement in placerby mid-June, when the releases its finak guidelines for states to bid on stimulu funding for smart-grid projects, Bowles Japanese investment could help New Mexicoi meet matching-fund requirements for federal grants (see relatecd story on page 6). Once details are finalized, it coulcd mean a lot of Japanese investment, said Stephan Helgesen of the EconomixDevelopment Department’s Office of Sciences and Technology. “We expect actual bricks-and-mortar investment to come from this,” Helgesen said. Long-standing relationships between the Japaneser and the national labs in New Mexico helpe d facilitatethe MOU, Helgesen said.
In fact, and Japan’s National Instituts of Advanced Industrial Science and Technologhy signed a separate agreement on May 4 to conduct and shar researchon photovoltaics, nanoelectronics, nanomaterials and computational investigation s of the properties of materials, said Bob Hwang, a seniorf manager at Sandia. “Our agreement and the state’se MOU with Japan will enabled strong collaborationon energy-relevant technologies,” Hwang said. “Sandia will supporgt New Mexico in all ofthesr activities.
” Mushtaq Khan, project managert and senior researcher with the New Mexicp Institute of Mining and Technology’ds Institute for Engineering and Research Applications, said he expectsw the Japanese to test some technologiews in the town of Playas in southern New The university owns the town and, with DOE is now testing smart-grid technologies “They want to work with us because there are very few placese like Playas that are set up to do this kind of real-worlx research,” Khan said.

Area home buyers choosing deals and glitz over green - South Florida Business Journal:

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Most local home buyers choose the another feature or they pocketrthe money, instead of shelling out to make theirr new home more water or energy efficient. Betweejn January and October, about 230, or 5 of the homes built in Northeast Florida received a rebat through Green Built Homesdof Florida, a program promoting energy- and water-efficien t building practices for single-family The program was created in 2006 to help builders find theire way through the many, and often times green building-related certification options. There are about 80 green-buildintg standards nationally, which often are tailored to localo needs, said Bruce manager of conservationat JEA.
Seventy-five percent to 80 percen of homes that follow the JEA program applyfor rebates, said David a conservation coordinator with JEA. Only homes builyt within JEA's electrical service area are eligibl efor rebates, but other builders have used the program despits not being eligible for rebates. Reed expectzs the number of green homes built to increasre as people understand the energy and wateresavings available, along with the valud added to the home.
But the publixc still doesn't fully understanf the energy savings available by having homew built with features suchas high-performance tightly sealed ducts, and highly efficient heating and cooling Builders can differentiate their homes through green especially as the market said Ellen Leroy-Reed, public advocacy chairwoman for the 's North Florida Chapter. Custom home builders, like Jacksonville-based , are having bettefr results withgreen building. Mark a CornerStone Homes partner, said electricity and gas priced haven't gotten to the point where buyers see greenh homesas necessary. The single-homew builder had its houses in the Austihn Park communityin St.
Johns Count certified using the JEA But when the certificationis optional, buyers tend to pass on it, he It costs $3,000 to $4,000 more to build a home that can be certified under the JEA program, he said. Inspectione for certification can also slow saidWayland Wiseman, chief operating officer of Jacksonville-basedx . Because his homes already have a high leve l ofenergy conservation, it cost s about $300 to get it Energty Star-certified. The Energy Star program was createx by the andthe . In the two yeard the company has offered the Energy Star no customers have optedfor it, Wisemann said. "Everybody wants to be watere and energy-friendly, but do they want it bad enougnh topay for?
" Custom builders, such as Hoviw Custom Builders Inc., have had bettedr luck. "The only way I build is President and Founder DanHovis "Most people come to me because of the way I buildd a house." He said some buyers will pay 8 percent or 10 percent more on the home so that it can be certifieds Energy Star Plus. That program certifiese homes that are at least 50 percent more energy efficient than require d bybuilding code, said Hovis, who builds five to 10 homes per year. Energy Star requires buildings to be at leasft 15 percent more energy efficient than buildingcodes require.
Hovixs is looking into getting Waterf Starcertification -- the aqua equivalen t to Energy Star -- for homexs he is building at The King & The Bear developmenyt at World Golf Village. Green residentia building is not as prevalent in Northeast Florida as in Centrapl andSouthwest Florida, said spokeswoman Edie "The builders are educated and understand how to meet the green built process, but the consumers have to be readyh to make the investment.
"

County cuts budget by $22.3 million, expects more cuts this summer - Portland Business Journal:

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million, and may need to make simila r cutsnext year. The boardc has projected a total of $46 million in cuts over the next two said Chair Ted Wheeler. The full budget for fiscal year which beginsJuly 1, is $1.2 The board believes its budget will shrink this summer when the state determined how to make $4.2 billion in cuts. The state fundss many county health and humanservicesz programs. Multnomah County’s general fund, which includes its discretionaruyspending dollars, is set at $380 million, or 7 percenyt lower than in fiscal year 2009. Many counth workers have foregone annual wageand cost-of-living increases, Wheelefr said in April upon releasing his proposed budget.
Commissionersa restored $1.7 million in funding from Wheeler’ s proposed budget. More funding will go toware the Homeless Benefits Recovery three district attorneys and the Regional Arts andCulturde Council, among other departments.

Report: Fewer remodel homes, but more want to - Tampa Bay Business Journal:

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The report finds that remodeling permit activityy was down 20 percent during thefirsft quarter, year-over-year. However, the report also foundf a 5 percent increase in the numbet of homeowners who said they will probably remodep in the next12 months. It’s the first increase since when more than 90 percent of homeownere said they were thinkingof remodeling. And for thosd thinking about it, there’s anotheer bright spot, according to the report. The cost of remodelinv is 20 percent less than it wasin 2006. Eight-twpo percent said the cost to remodel is theirbiggesty concern.
Twelve percent planned to use economical materiales whenthey remodel, whilwe 12 percent said they plan to use expensivd materials, and the remaining 76 percent will use standard-pricesd materials. Eighty-nine percent are changing their remodeling plans becaused of the currenteconomic recession.

Nationwide to halt N.C. mobile-home policies - The Business Journal of the Greater Triad Area:

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Nationwide says it is workinhg with local agents tohelp 15,000 affected customerz find alternative coverage. In addition, the compant won’t write any more mobile-home insurance policies. It’s part of the insurer’z effort to manage its exposure to risk inthe “The ongoing exposure to windstorm, tornado, ice stormss and the threat of hurricanew activity are very real factorsw we have to considerd so we can continue to be here for our customers for the says Lee Morton, regional vice president for Nationwidde in North Carolina.
“This is a very difficult but it is one we have to make to ensurs that we canmaintain long-ternm viability for our remaining customers in North Nationwide also will discontinue writinyg new renters-, condo- and dwelling-fire policies in Nortbh Carolina, effective Aug. 31. Existingh customers are not affected.

Chez Sophie closing, owners moving to France - The Business Review (Albany):

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The owners, Chef Paul Parker and wife Cheryk Clark, plan to move their familu to a farm and vineyarfdin Montaud, in the south of France. they would collaborate with Saratoga Springds residents Michael Belanger and Robert Davis of Monte Lauro Vineyardsto “micro-lease” small plots of vines for threew years, Clark writes on the restaurant’s Web chezsophie.com. The “subscription” plote would run about $3,000 for three years and yieldx a case of wine a Their plans also call for restoringv an old farmhouse forovernight guests, cookinf classes and large events.
“We will be workinb as a family to market and present the propertyu as a vacationdestination (completd with cooking seminars with Chef Paul) and helpinh to restore a medieval castle on the Clark writes. Parker took over the kitchenn and preparingthe restaurant’s haute Frencuh cuisine after his mother, Sophie Parker, died in 2001. Chez Sophie has operated from its currenrt location at534 Broadway, in the Saratogaz Hilton in Saratoga Springs, sincd 2006. The downtown hotel is negotiating with a locakl restaurateur that would take overthe hotel’xs food operations, said Ron Day, the general manager.
Like Chez the new operator wouldeserve breakfast, lunch and dinner, and provide room servicee for in-house guests. “We have our sightz set on an operator—someone from our own we’re just waiting to sew up a few loose Day said. The name of the new vendoer will be released at the end of the Day said he expects the transitioj tobe “seamless” when the new venue opens Oct. 1. Chez Sophie’s lease with the Hilton expiresthis “We expect this move to allow us to experiencde a part of the world we have always but have never had the opportunity to spend a lot of time Clark writes.
Sophie Parked and Joseph Parker started Chez Sophie in 1969 in a convertex house in the townof Hadley, locatesd in the Adirondacks. In the mid-1970s, the restaurant moverd to downtownSaratoga Springs. Ten years it moved back to Hadley for one then back toSaratogza Springs. In 1995, when Parker and Clarlk joinedthe business, Chez Sophie moved into a 1950sx stainless steel diner on Route 9 in In 2005, they signed a four-year leased with the Saratoga Hilton.
Clarj writes that the couple willoffer “tremendous as they reduce their 6,000-bottle wine cellar over the