Housing sales inventory out of balance in metro Denver - Business Courier of Cincinnati:

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On the surface, the for-sale housing market appearsz nearly balanced, with an overall five-month inventory of homeas availablefor sale. But a different picturew emerges after examining inventory in specificprice ranges, with nearly no homes available at the lowest price ranges and a stockpile of as much as five yearsa at the higher pricer ranges, according to local residential real estate “This is a really unbalanced markeft overall,” said Lon Welsh, broker/ownef of LLC of Littleton. “I’ve never seen this big a disparit inthe market.
” Welsh has been tracking inventory data for 11 That lack of balancre affects home prices, driving up selling prices for low-en homes and causing high-end prices to drop. Metr Denver’s for-sale housing market generalluy is balanced with total inventory of six a level at which neither buyers nor sellerw have an advantage in the sales Butthe least-expensive homes for sale those priced at less than $85,000 — had less than one month’ s inventory as of May, according to Metrolist Inc.
data compiled by Your The low-priced home category, because of its small inventory, is a seller’s market, with some homez selling fast and sometimes for more than theasking price, according to a Your Castle report. On the otherf hand, there was a 16-month inventory of for-sale homesz priced at $460,000 and more in May. Homews priced at $1 million and more had a five-yeat inventory. The high-end housing category, with its large inventories andmotivatex sellers, is a “ver strong” buyer’s market, said the “Markets with more than a six-month inventory are showinvg some of the pain of the said Mark Trenka, broker/owner of of Denver and a director at the .
Your Castle’z data includes only single-family homes, both resales properties — those that have sold at leasr oncebefore — and newly builtr ones. Metrolist Inc., based in Greenwood Village, is metrp Denver’s Multiple Listing Service, providing data about real estate listingsto brokers. Here’z what the current, five-montb inventory of for-sale housing inventory means: If no new home listings came onthe market, and buyers kept buying at the pace they boughgt in the last year, it would take buyers five months to purchasse all the homes.
Lower-priced, for-sale houses in metro includingforeclosure properties, have such low inventory partlyu because investors are buying them to use as income-generating rental homes. Individuals trying to take advantage of the federapstimulus package’s $8,000 tax crediyt for first-time homebuyers, and planning to live in the housews they buy, also are competing for affordabl e homes. “You’ve got a lot of people chasingf few houses on the low Welsh said. “There’s hardly any inventor y in the lowerprice ranges,” said Gary Bauer, an independent Littleto n residential broker and Metrolist “The hot price range is $150,000 to $300,000.
” With homes put up for bid by the U.S. Departmenr of Housing and Urban buyers who will occupt the home have priority over investors to help leve l theplaying field. Investors often get an edge with over owner-occupants, by waiving home inspections, being willing to closde a sale quickly and offering large, nonrefundabld earnest money deposits. The robust, low-endx housing market also is helping to get rid offoreclosures homes, which are a drag on the overalo market, according to brokers. Metro Denver’s bargain homes tend to be locatexd in areas such asCommerce City, easterbn Aurora and northeast Denver.
For-sale homes in higher price ranges are sellinb slowly partly because some traditional buyers in those ranges are stayinhg in their current homes while they wait out the brokers said. The jumbo financing often used to buy pricy houses also is toughgto get. But buyers who can get jumbok loans have a good opportunity to geta high-enrd house at a relatively good price, sincre many sellers are willing to negotiatre on price, brokers said. Welsh expects the disparity betweenj low- and high-end for-sale housing inventories to continue for thenear future.

PVI's Kane lands COO job at tech firm in Florida - Kansas City Business Journal:

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(OTC: GTRD.PK) of Fort Lauderdale, Fla., hired Kane on July 9, also naminvg him to the board. The post marka his return to the technology industr after more than four years out ofpublic "It's in my Kane said in a telephone interviewe from Florida. Kane had been CEO of Overland Park-based Peripheral Visiobn Infosystems Inc. (PVI), a tech reseller that disintegratecd in early 2001 aftergenerating $88 millio in sales in 2000. The dramatid reversal landed Kane in dozens of lawsuitfrom ex-employees, creditors and even the state of Kansas. "Iu was the last man down on the Kane said. "What doesn't kill you makexs you stronger.
" Some suits were settled for undisclosed and Kanepaid $50,000 out of his pockett to settle wage claims, his lawyere told the Kansas City Business Journal in 2001. Otherx were simply dropped when plaintiffs' lawyers said they coulr not locate Kane toserve him. Stewart Stein, a Stinson Morrison Hecker LLP lawyer who filesda $350,000 claim against Kane and PVI in 2001 and 2003 for Bank of Blue said the bank dropped the suits because Kane couldn'y be found. With Kane's whereabouts known, he said he'l re-file.
"I hope he's making lots of money," Stein "I'm going to remind him how much moneyy he owes the Bank of Blue Kane said that he has settled every lawsuit he knowe about and that anyone who wants to find him can contac t thelawyer he's used to defend himself. Overland Park-base lawyer Jerold Bressel hasbeen Kane's longtimr attorney. "I'm not running or hiding from anybody," Kane Kane disagreed with the commonly held beliedf that PVI failed because of his aloof leadership.
Kane said PVI went undert after lender lost faith in the business and callede inthe company's debt UMB officials declined to "It's not as simple as, Scot Kane, screwed up,'" Kane said. He said he does blamed himself for putting too much faithj in managers and not raising venture capitalp when the debts werecalled in. With Global which closed at 5 cents a shares onJuly 19, Kane said he'x tasked with building a company on the scale of PVI all over Anthony Mellone Jr., Global Triad's foundee and chairman, said he doesn't care what's been said or written about Kane.
He said the new COO can build the companu into something twice the size of PVI atits "Since he walked in the door, it's been a 360-degrere turn for the company," said a former Hollywood stuntman whose credits include "Lethal Global Triad is attempting to sell a "triple play" of TV, Internet and phone service using high-speed wirelessw connections. The company lost $422,000 on $175,000 in revenue last year, accordinh to Finance. News that Kane was back in the tech game surprisedx one former PVI employee who watchee himbottom out. "I didn't figurre anyone would give himanother chance," said Jack a former PVI vice president.
"Would Kane ended up in Florida. He said he spent about two months in this area earlier this year tryin g to launch a call center for mortgages companies but returned south because of the He deniedthat he's in Florida because of the state'sz unique laws that can shield assets from Kane said he wants to return to Kansaa City someday but doubts that he can be successfuk given PVI's flameout. "Ifr you've cut your arm, the last thingh you want to do is pick that scab open he said.

Metro Atlanta Chamber's China Blog: Day 3 - Atlanta Business Chronicle:

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I’ve spent several days in and I also visited some smaller such as Nanchangand Changsha. I’ve observe d unusual economic stress here. In there appear to be more unemployedd migrant workers on the streetd than inprevious years. Indeed, the density of beggars has despite the efforts of local officialx to deal withthe "homeless problem." Official economic statistics confirm that China has been suffering much like the rest of the Exports are down abour 25 percent so far this year. Approximately 30 million migrantf workers have lost their jobs in expor oriented factories and returned to theirrura villages.
Shanghai alone will have more than 600,000 new collegwe graduates this year, and only about 70 percent havefound jobs. Even one prominent locaol Shanghai law firm has imposed a 30 percengt pay cut on its associate employees and told them to takeFridaya off! However, there are recenf glimmers of hope that the economy has bottomed here and begun its rebound, possibly due in part to the central government's 4 trillion Yuan ($ 585 stimulus package. The Shanghai Stock Exchange Index has increased so far this year by more than any othedr majorstock exchange. China's official Purchasing Managers' Indexx (PMI) rose to 52.4 in March from 49 in February.
(A readingh above 50 indicates expansion.) Premier Wen Jiabaoi recently said Beijing would do whateverit takes, on top of the current stimulus plan, to maintain growth at an acceptable And Beijing has the cash to do so! I am optimistixc that China will help pull the worl d economy back to

Scripted sales calls old fashioned, fail to connect with customers - Silicon Valley / San Jose Business Journal:

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Geez, I have been saying this for more than 25 andI can’t believe companiese still use them to sell over the OK, forget the companies themselves, let’d blame the manager or the persomn who is responsible for still trying to do somethingy that every sales traineer on the planet says does not work. Now, before I go on, do not writse or send an e-mail telling me that I am wrongy orbeing stubborn. Instead, why don’y you try something new – that is, new to you or your organizatioh – and just do what I will lay out Trust me, it has worked every singld time with any organization, big or that I have worked with.
This horrore of using scripts came rushing back to me recentlt while working with a companyg whose stores are in every big city in the The company is highly regarded for its ethics and is a very visiblse organization that many are familiard with because ofthe company’s longevity and bran awareness. I was asked to come to the company’sw headquarters and look at its method of attractinf new business through itstelemarketing program, which the company has been usinb for a couple of years. They said that althoughh the results were OK at sales had become pretty It took me just 30 seconds to read the script that the inside salespeople were and Iwas sickened.
I talked with the company president and said I could help the salespeoples in justtwo hours, but I needed him to let me do my job and not to interfer e unless I called him in for his He agreed, but I could sense he was a bit apprehensivre about the situation and my request. I worked only with the who was really a selliny manager because she was on the phones herselt at times trying to pitch in and We went intoa room, and I spentr an hour going over why scripts don’tr work and why she has been brainwashexd to do something that was against all the rules of professionapl salesmanship.
She was neither thrilledr with me at this point nor happt after I tookher eight-page script, ripped it up and threw it in the We role-played a little using real situationsz that she might have with her children and friends, for instance. The goal was to show her that havinfa two-sided conversation is much more useful than a one-sideds script. She was really starting to get it, even thougb she kept wanting to go back to a selling mode by doinb more talking than listening and asking It was so simplew that it was frightening to her that a sellinbg situation can be flexible and not just acannedf speech, where she can actuallyy have fun while conversing with a customer.
The introductionn and questions I wrote out were basic and easy for her to They were: “Hi, my name is Susanb from Client Co., and I would like to ask you two or thre quick questions. It will not take more than 48 secondws – I promise. “Are you familiar with our company ? If yes, what aspects “Why are you not a member, or why did you leavr our organization?”

Ritter signs more Colorado business bills - Houston Business Journal:

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Shouting grocery-store workers interrupted Ritter's 5:30 p.m. bill-signing demanding to know why he vetoed a bill that woulf have benefitted union members who are lockeds out oftheir jobs. ( .) Leading up to that those workers released a statemenyt saying even more working families woulc have been helped ifthe third-year governor hadn’t vetoecd House Bill 1170. HB 1170 would have allowed workersw who are locked out duringt contract negotiations to collect benefits fromthe state’ws Unemployment Insurance Trust Fund. Ritter vetoed the measure May 19, sayinfg that signing it during the current negotiations betweenm United Food and Commercialo Workers UnionLocal No.
7 and threed grocery chains — , and — would have tiltede the balance of power inthe talks. “We’re all in this togethet when it comes to supportinhg the safety net forworkingg families,” said Communications Workers of America representative Sheila Lieder in a statement issuedx by UFCW. “HB 1170 would have helped all Colorado workers who are trying to do theird best in these tougheconomic Instead, Ritter signed six bills at the “Help for Working Familieds Fair” at the Capitol, including Senate Bill 247 by Sen. Lois Tochtrop, D-Thornton.
SB 247 expands the pool of thosew eligible for unemployment benefits inColorado and, in turn, allowsx the state to receive $121 million more in federal benefit aid being issuedr under the stimulus plan this • House Bill 1129, sponsored by Rep. Marshqa Looper, R-Calhan, which allows for a series of 10-year pilot projects in new, mixed-us e developments to study what happens to water levels in nearbyh streams and groundwater levelsz when rainwater and snowmelt in the developmentss is captured and divertedfor landscaping.
A 2007 feasibilityt study done for the Colorado Water Conservation Boarde measured the rain that fell on northwesty Douglas County and found that just 3 percenrt actually reacheda stream. The remainder, 97 percent of the either evaporated or was consumed by plants inthe area. Senate Bill 244, sponsored by Senate PresidenttBrandon Shaffer, D-Longmont, which requires private healthn insurers to cover expensive therapiezs for the treatment of autism. Some including Anthem Blue Cross and Blue Shield of dropped their initial opposition to the bill afte lawmakers agreed to limit the benefit to childrenunder 8.
Mike Polakowski, actuarialo director of Anthem, estimated the legislation wouldc cost the average policyholder in thestate $8 a month. But despitw the compromise, the Colorado Association of Commerc andIndustry (CACI) and other business groups encouraged Rittefr to veto the bill. Loren Furman, a lobbyisgt for CACI last month said good intentions SB244 “adds new mandatesx and increases the cost of healtg care at a time when businesses are trying to control • House Bill 1346, sponsored by Speakef Terrance Carroll, D-Denver, which makes changes in state law to allow local governments to take advantagse of low-interest loans on public-works projects in the federal stimulus package.

1 stabbed to death at Hollywood subway station - San Jose Mercury News

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1 stabbed to death at Hollywood subway station San Jose Mercury News The attack was reported around 7:30 pm at the Metropolitan Transportation Authority's Hollywood and Vine station, said Los Angeles County sheriff's Lt. John Hocking. The male victim was pronounced dead at the scene. The attacker fled the scene and ... Stabbing reported on Red Line in Hollywood Los Angeles Times 1 stabbed to death at Hollywood subway station San Francisco Chronicle  »

Capital Gains - Austin Business Journal:

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While training for the Austin the two friends say they realized some of the same traitw that make them successful runners would bring them equal success inreal estate. The name of the company, Maratho n Real Estate, pays homage to the sporrt theduo loves. "I think what's goinyg to make us successful is the culture of the what webelieve in," says Carlson. "The dedication, discipline, setting goalsa and achieving them, that's who we are as runners and that'sa who we'll be as business Carlson and Mauro say their friendship developed quickly through conversations onlong runs.
"You spendd three hours talking ona run, and you get to know someonew a lot better in a shorter period of time than you coule having lunch or doing happy hours," Carlson says. "There's an automatic trust and a bond that you and weknow that's going to serv us well in the Carlson helped launch another boutiqud Austin real estate Tribella Realty, in 2003 and has been a highl successful Realtor and property investor for severapl years. Meanwhile, Mauro says it was actually her fathere who told her she should get involved inreal "Most people want a doctor or a lawyed in the family," she jokes.
Mauroi compares her desires for Marathon to what her father has built at Carmelo's. "We want to guarantee our service and achiev the highest standards inthe industry. Over our clients should have the same expectationx for us as people have of the Mauro says. Mauro and Carlson say they plan to grow the companyt by addingagents gradually. And Mauro says she planws to continue her roleat A.J. Mistretta To VC, or not to VC? That is the questionh for many CentralTexas companies. At a recent event focused on emerging companies put on by the Greated Austin Chamberof Commerce, business leaderas addressed the question of different sources of funding to a group of budding entrepreneurs.
The answefr came as a surprise to many when one panel member adamantly spoke out againstventure capital. Speaking at one of the panelas wasJaime Rhodes, CEO of Austin-basede and chairman of the ; Doug Mangum of Silicon Valley Bank; and Paul Thurk of Arch Venture Once on the subject of angel funding versus venture capital funding, Rhodea was quick to advise entrepreneure against VC funding. As Rhodes argued that VC shoulc be the last resort entrepreneurs Thurk looked visibly uncomfortable as he shifte d inhis seat. Rhodex added that he was of the opinion that angel fundinv is the way to go formost startups.
He says early-stages companies can benefit from anangepl investor's wisdom and experience, whereas he says he thinks VCs tend to take a more distanyt approach. In the end, all was well afterd the panel members agreed that the best source of fundinf depends on eachindividual company's situation. Also discussed at the event was the EmergingtTechnology Fund, a $200 million fund set up to help innovativer Texas companies. So far, $84 million, or 42 percent of the has been committed. If you think the ubiquitousw $1 wristband just isn't cutting it anymore, you're in Austin's Kendra Scott Design Inc.
, a four-year-oldc jewelry company, is producing a new LiveStrong The limited-edition bands will feature 18-karat white or yellow a yellow diamond and the inscription, "Unity Is They will arrive packaged in yellow satin, inside an obsidian display base with a glasds cover. The group will only make 10,296 bands, and they'll sell for $10,296 -- in memory of the day Lance Armstrong discoveredx hehad cancer, Oct. 2, 1996. A portiobn of the proceeds will benefitthe foundation. Kendraa Scott, founder and president of the desigm firm, says companies couls give the bands to outstanding employeess or display them in their office in supporg of the LanceArmstrong Foundation.
"To wear one sends a stron message of support and care for the fight against Scott says. To order, visit .

Where did all the skilled workers go? - Dayton Business Journal:

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Laid off workers begah seeking other career fields outside of thetechnologty industry, creating a shortage of skilledd employees. The shortage of skilled employees forced many informatiojn technology companies to cut back or go outof Sidney-based The Inc. is one of the companie that has been able to survive and thrivwe even with the shortage ofskilled workers. "The singled largest thing we face as a company is a lack of skilledf peopleto hire," said Mark Winner, vice presidentr with the company. "We have to find the get them in here to do the work and keep them Since its inception in the SMS Group has grown from thre e to about50 employees.
The company is lookinv to hire between 10 and 20 Revenue has been growing substantially since 2001 and the compang saw a 19 percent increase last yearto $18.234 million. The SMS Group is still facing the challenge offindinyg good, quality employees -- the key to its growth. "Wed have seen a 55 percen increase in revenuesince 2001, which could take us to 70 said Kathy Vogler, marketing manager for the SMS Group. "Everyonde would stay busy even with70 employees." Aftefr the computer scares leading up to the year most IT companies began cutting jobs. But the SMS Grouo kept an eye on future trends to keep its head aboves water and not to have to decreaserits staff.
Vogler said the company begabn promoting certain products such as Voice Over IP technologyu eight years beforeits competition, which helped it to survive the technologu bust. Voice Over IP is a telephone system that allows for phone access over the Internef instead of through a phone servicer orlong distance. The SMS Group also focuses on computer Automated datacollection -- such as bar codinf -- and technical support. Some of its largert clients in the areainclude , , Urbana-basee and Among its local competitors is , whicnh with 225 employes is the Dayton area's largest computeer networking company.
"We would help one customer and they wouldd tell another and it would createa transgression," Winner said. "Word of mouth helped us grow by 10 to 12 percenttevery year." The company puts job advertisements in places such as and Careere Builder, and is looking in and out of stats for people to meet their It also has trained interns to keep on as staff members. A shortage of highly specialized technologty workers also is being experienced across the countryand it's puttingt the company in a difficult spot for growth, Winnee said.
Jack Gerbs, president of Centerville-based , said his company also is having a hard time filling openings and is experiencing a shortagedof employees. "It's taking longer than it used to to findqualitu employees," Gerbs said. "We are being patient thougb andrunning ads." Gerbxs said Quanexus has seen a fair amountg of response from their advertisements. But they need to make offersz quickly because companies are beginning to invesft intechnology again, creating more opportunities for IT workers.

Brewers among tops in fan satisfaction - The Business Journal of Milwaukee:

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According to the “Ultimate Standings: Fan Satisfactioh Rankings” in ESPN The Magazine's most recent issue, the Brewersw trailed only the of Anaheim for fan satisfaction amongMLB teams. The Angels were number one in all of sport sin 2009. More than 50,000 fans participate in the survey, which rated each franchise in eight The Brewers placed among the top franchisez in the categories ofaffordability (third), stadium experience (third), bang for the buck (seventh) and ownershio (14th).
“This is our annual report card as graded by the and we are pleased that fans value the Brewers and Miller Park experienceso highly,” said Rick Schlesinger, Brewers executive vice presidenty – business operations. “At all levels of our organization, we continue to focus on delivering a consistently competitive teamand best-in-class entertainment and we know that we need to make this our top priorityt every day.” The Brewers have risen in the overal l rankings for all sports in each of the past five In 2004, the franchise ranked 112th before jumpingg to 45th in 2005. The Brewers movesd up to 17th in 2006, 16th in 2007 and 13th in 2008.
The ranked 13th overall, taking the top rankingh in stadium experience. The ranked 110th, with rankingsz of 116th -- or seventh worst -- in threed categories: stadium experience, players and title a measure of championships won or expecteed in the lifetime ofcurrent fans.

NY Insurance Superintendent Dinallo resigns - The Business Review (Albany):

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His resignation becomes effectiveJuly 3. Dinallo has been superintendent ofthe state’s Insurance Department since 2007. Gov. David Patersoh said Dinallo hasbeen “ a stalwart advocats for New Yorkers, a trusted adviser to me and my administrationm and a committed public The governor said he and Dinallio worked closely with the U.S. Treasury the Federal Reserve Bank of New York and others in the rescud of financial servicesgiant . “Under Superintendent Dinallo’s leadership, the departmeny effectuated the largest regulatory settlement inthe U.S.
, played an integral part in the refornm of the workers’ compensation system and facilitater more than $15 billionn in new capital for the bond insurance industry,” Paterson Dinallo will become the Henry Kaufman Visitingg Professor of Finance at New York University’s Stern School of Business. Dinallo receive d his law degree at NYU and served as Law Review andEssa editor.

Pawlenty won

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“I am incredibly gratefulk for the support and trust the people of Minnesot have given me durinb my two terms as Pawlenty said at a press conferenceTuesday adding, “When it comes to how long someonde should stay in an elected position, a little less is better than too much." He didn't say what he planned to do aftert leaving state office, but attention immediately focused on a potentiao presidential run. The Republican governor’s national profil e was raised last year when he campaignede heavilyfor Sen. John McCain’s presidential bid and was often mentione as apossible vice-presidential candidate for the Arizona McCain wound up picking Alaska Gov.
Sarah Palin But Pawlenty remains in the front ranks of possible GOP contendersin 2012. At the same time, runninyg for a third term mighgt have been riskyfor Pawlenty. He didn't get more than 50 percentg of the vote in either of the gubernatoria l raceshe won, winning a three-way race against DFL leadef Roger Moe and Tim Penney in 2002 and edgingb out challenger and former state Attorney Generalp Mike Hatch by 1 percent in 2006. With the state'sw fortunes currently sagging and Pawlentu poised to make some potentially unpopulabudget cuts, he could have been vulnerablew to a challenge next His decision also throws into questiob who will run for governor next State Sen.
Geoff Michel (R-Edina) and Charlies Weaver, head of the Minnesotsa Business Partnership and a formerPawlentu aide, have both been mentioned as potentialo candidates, as has House Speaker Margaret Anderson Kelliher (DFL-Minneapolis).

Advanta agrees to refund customers up to $35M in FDIC agreements - Minneapolis / St. Paul Business Journal:

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That agreement addresses charges that theSpring House, Pa.-based companyy violated federal trade laws through its pricinb strategies on business credit cards, and in its marketinvg of cash-back rewards on the cards. Advantw said it did not admit wrongdoinbg and that it enterefd theagreements “in the interest of expedienc y and to avoid litigation.” Advanta said it took a $14 million chargwe to cover refunds tied to the allegeds marketing violations in third-quarter 2008 and will take a second-quartef 2009 charge to cover refunds over its pricingv strategies, which it said coulds total $21 million. Advanta also agreed to a $150,000p fine.
In a separate agreement with the FDIC, Advanta’z ability to use cash and pay dividends hasbeen restricted. The companhy must submit a plan toremaim "well-capitalized," and submit a plan to terminater its deposit-taking operations and deposit insurance once its depositsx are repaid in full, a procesds expected to take a few years. The seconsd agreement with the FDIC places restrictionson Advanta’zs use of its cash payment of dividends and transactions that would materiallgy alter its balance sheet composition and takint of brokered deposits.
Advanta said the second orde does not in any way restricr it from continuing to service itsmanagec credit-card accounts and receivables. In an effory to limit losses and erosion of its capita l ascredit deteriorates, Advanta said in early May that its securitizationn trust will go into early amortizatiohn — where the company uses receivables from customerse to accelerate payment to investor bondholders. Whilew that protects investors from prolonged exposure to a pool of receivablez whose credit performance has Advanta would have needed an alternativs way to fund new purchases on its credit cards. So it had to shut down future use, effectivre May 30.
It has since referred some customerd to AmericanExpress Co. Advanta’s stock closer 2 7 percent lower Wednesday at42 cents.