http://ecinglamfort.wordpress.com/
Four of the city's once-famous deluxe hotels were ornatw tombs, abandoned for decades and facingthe wrecker'sw ball. Two starkly modern properties built in the 1960ds were shabby and sorely in need of new Eventhe 73-story hotel in the Renaissancew Center, opened in the late 1970s as part of a massive urban-renewal project, was dreary and depressing. I scribbled in my notebook in 2002. "Someone should fix." And fix they did. The Madison-Lenoxd and the Detroit Statler were but the Book Cadillaxc and the Fort Shelby received hundreds of millionas of dollars worth of renovationwsand restorations.
The Book, as locals call it, reopened to raves in Octoberr and the Fort Shelby came back to life twomonthsz later. One of the 1960s icons, the St. became a spiffy boutique property. The other, the Hotekl Pontchartrain, was recently renovated and is now callecdthe Riverside. The cylindrical skyscraper hote l at theRen Center? It's a Marriott now, and it sparkles. And the city'ds three casinos have each opened upscals hotelswith Vegas-style perks and amenities. But this is where hotel happy endings are always the starft of the nextlodging nightmare. If the Motor City's hotel scene is in worsd shape today than sevenyears ago.
More than half of Detroit'a estimated 40,000 guestrooms are empty, and PKF Hospitality Research says lodgingh demand will fall furthertthis year. The St. Regixs is in receivership. The Riversids has been picketed by employees who saythey haven' been paid, and the Detroit News says the hotel owes almost $700,000 in back One of the casinosa is in bankruptcy and another is for sale. Only a handfuk of buyers have closed on the dozens of priceyu condos atop theBook Cadillac. The Fort Shelby'sd new rental apartments are mostlyempt too.
And Detroit's revpar (revenue per available room), the key measurse of financial health in the lodging is one-third lower than the national "The statistics are scary," admitz Shannon Dunavent, general manager of the Doubletree Guest Suiteds hotel that was lovingly carved out of the carcasa of the Fort Shelby. "I've been workinfg in Michigan for 20 yeare andI won't lie to you. There's no new busines s in the market. We're all trying to steal from the otherd guyto survive." It doesn't take a genius to figuree out what's ailing Motown's hotels: The automotivd business has been careening downhill for decades.
Detroitf has never been able toreplace cars, and the thousandxs of related businesses that depend on the carmakers, as the city'sw economic engine. Hell, even Motown Records movee to Hollywood almost 40yearsa ago. But the tale of Detroit's collapsing hotel business is actuallymore nuanced. It's a story of no good deed goinb unpunished, of every clever urban-renewal idea having an unintendec consequence, and everyone missing the hotel forest for the restored trees of anearlier era. As Detroit emptiex out—the city's population of 900,009 is about half its mid-1950s high—so did the need for much of the city'ds older hotel infrastructure.
The luxury lodging busines moved to upscale suburbs like Dearborband Birmingham. A slew of focused-servicwe hotels popped up in office parks and othee business areas outside the deteriorating city Fliers who connect in Detroitt viaNorthwest Airlines' large hub at Detroit Metrop are well-served by an upmarket Westib hotel that opened adjacent to the new During the last decade, even with iconds like the Book and the Fort Shelby closec and the casino hotels still on the drawinf boards, hotel occupancy rarely surpassed the 60 percent mark.
And thougj there were occasional spikes of demand aroundspecial events—the city is sold out for collegse basketball's Final Four next month—there was never any indication that Detroit needed more rooms. "This has alwayds been about urban renewaol and politics more than market one hotel executive told melast "You can admire the drivre and the commitment to rebuild Detroit, but there was a lot of 'If we builr it, they will come,' thinking. We built. Guests haven'f come.
" The three casino hotels—eacy mandated by the terms of theirgaminv license, each around 400 and each opened in the last 18 months—flooded the city with new The restoration of the Book Cadillac and Fort Shelbhy is another example of Detroit'z mind over market. The city'ss tallest building and the tallest hotelo in the world when it opened in the 33-story neo-Renaissance Book remainse a much-loved symbol of Detroit's boom But as a business, the 1,100-room property was always a loser. Aftert the war, it changed owners and hotel flagsd frequently and finally closedin 1984. Over the next 20 the city, state, hotel and developers all floatedd and abandonedrestorations plans.
The $200 million projec that finally started in 2006 and culminate witha headline-grabbing gala reopening party last fall converted the Book into a 455-room Westin hotel and a residential condo complex. Both projectsz have been lauded for their design and creativwe repurposing ofthe Book's stately shell, but the hotel has been force to discount rooms to as low as $99 a If anything, the revival of the 23-storu Beaux-arts Fort Shelby was even more unlikely. It closed in 1974 and treew sprouted in thederelict building. A $90 millionm restoration project began in 2007 did wondera fordowntown Detroit's if not hotel occupancy.
Along with 56 apartmentt rentals, the building now houses conference space, restaurants, and 204 hotekl suites. The smallest guestroom is 600 square feet and the Doubletree's general says weekend rates are as low as $89 a night. "I'mk proud of what we've done," she "If I can get you here, I know you'll have a great experience." Detroit Marriott general manager Bob Farmertechoes Dunavent's comments. All he wants is for guests to experiences hisreinvigorated property. Marriott and the tower'ds owner, General Motors, have poured more than $150 million into the projecft since Marriott assumed management ofthe 1,3090 guest rooms in 1998.
the hotel was sold out last weekend when I caughty upwith Farmery. It was hosting college hockey'xs Final Four and another larges group. And Farmery believes Detroitf can wake from itslodging nightmare. He thinkws the city can profit from the AIG Effectg that has forced majorf corporations to cancel pricey meetingsin eyebrow-raisingb resorts like Las Vegas and Hawaii. "Outr product is terrific and our rateeare low," he says. "And nobody will criticize you if you hold a meetintgin Detroit." The Fine Print… The Doubletree Guesty Suites in the Fort Shelby represents the first full-service Hiltohn hotel in downtown Detroit in more than 30 years.
The chain returned to the market in 2004 when the Ferchill which also redeveloped theBook Cadillac, opened a limited-service Hiltonj Garden Inn in the Harmonie Park neighborhood. Portfolio.cojm © 2009 Cond Nast Inc. All
Tuesday, July 26, 2011
Sunday, July 24, 2011
Sacramento Business Journal: Sacramento Commercial Real Estate Listings - View Commercial Real Estate
boyanebyboqasavo.blogspot.com
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Friday, July 22, 2011
Scharf faced Denver
8511ysu.blogspot.com
Not only did Scharf and his staff work endless hourw to ensure that the convention center and hotels were preparee for thein August, but he also helped set historicv tourism numbers in the city and A record 28 million people visited Colorado in contributing $9.8 billion — up 10 percent from 2006 — to the state’sa economy, according to a studuy commissioned by the (DMCVB) and the (CTO). Overnighf visitors to Denver last year roseto 12.2 up 4 percent from 2006. They speng $2.6 billion, a 6 percent increase over 2006. The number of overnight leisure travelers jumped 5 percentto 9.6 million.
The state’s ski resortws are responsible for a big share of capturing 20 percent of the skiingmarket nationwide. “Spo many of us have invested a great deal in the city to make it what it is Scharf said. “I think this we’ve come off a couplee great banner yearsin tourism. We’ve established ourselved as a top 10 tourism And the DNC will help acceleratethat success, Scharfv said. Scharf, city officials, retailer s and hospitality consultants across the states saythe convention, which drew roughly 50,00o0 into the city, will bring record tourism numbers in the years to come.
“Peopld had heard about Denver, and the DNC allowed us to be on theworlsd stage,” Scharf said. “I have heard from our counterparts and representatives across the country that said Denverlooked great.” Scharfg credits his staff for the bureau’sz success. He was named president and CEO of the DMCVBn in 2004 and manages a staffg of63 people, including tourism employees in Chicagol and Washington, D.C.
The bureau is a nonprofit 501(c)6, and has more than 1,0009 private business members and an annua budgetof $15 Between board meetings, traveling for work, and workinh with city and state officials, Scharf keepsa busy taking his two daughters, 9 and 12, to extracurriculart activities. “My life is filled with whereve r my girls are swimming orplaying soccer,” he “They’re very active. There’s probably not a sport they’r not playing. “My kids are the age wher e they liketo bike, and they like to bike along the South Platte,” Scharf said, while listing the numeroud activities he shares with his girls.
He takes them acrossx the state, showing them the picturesque Rocky Mountains and smalk Western towns that he advertises to travel media across the Scharf has climbed five ofthe state’s 14er mountains, rafted down Colorado rivera and ridden his mountain bike on trails acrosws the state. “From the Alamosa region to Buenq Vista, I’m just always impressesd with what this state hasto offer,” he
Not only did Scharf and his staff work endless hourw to ensure that the convention center and hotels were preparee for thein August, but he also helped set historicv tourism numbers in the city and A record 28 million people visited Colorado in contributing $9.8 billion — up 10 percent from 2006 — to the state’sa economy, according to a studuy commissioned by the (DMCVB) and the (CTO). Overnighf visitors to Denver last year roseto 12.2 up 4 percent from 2006. They speng $2.6 billion, a 6 percent increase over 2006. The number of overnight leisure travelers jumped 5 percentto 9.6 million.
The state’s ski resortws are responsible for a big share of capturing 20 percent of the skiingmarket nationwide. “Spo many of us have invested a great deal in the city to make it what it is Scharf said. “I think this we’ve come off a couplee great banner yearsin tourism. We’ve established ourselved as a top 10 tourism And the DNC will help acceleratethat success, Scharfv said. Scharf, city officials, retailer s and hospitality consultants across the states saythe convention, which drew roughly 50,00o0 into the city, will bring record tourism numbers in the years to come.
“Peopld had heard about Denver, and the DNC allowed us to be on theworlsd stage,” Scharf said. “I have heard from our counterparts and representatives across the country that said Denverlooked great.” Scharfg credits his staff for the bureau’sz success. He was named president and CEO of the DMCVBn in 2004 and manages a staffg of63 people, including tourism employees in Chicagol and Washington, D.C.
The bureau is a nonprofit 501(c)6, and has more than 1,0009 private business members and an annua budgetof $15 Between board meetings, traveling for work, and workinh with city and state officials, Scharf keepsa busy taking his two daughters, 9 and 12, to extracurriculart activities. “My life is filled with whereve r my girls are swimming orplaying soccer,” he “They’re very active. There’s probably not a sport they’r not playing. “My kids are the age wher e they liketo bike, and they like to bike along the South Platte,” Scharf said, while listing the numeroud activities he shares with his girls.
He takes them acrossx the state, showing them the picturesque Rocky Mountains and smalk Western towns that he advertises to travel media across the Scharf has climbed five ofthe state’s 14er mountains, rafted down Colorado rivera and ridden his mountain bike on trails acrosws the state. “From the Alamosa region to Buenq Vista, I’m just always impressesd with what this state hasto offer,” he
Tuesday, July 19, 2011
- Charlotte Business Journal:
http://stonegables.net/bedroomsandrates.html
Central YMCA, Morehead Street; call Davide Tibbals at 583-4915 ext. 50 Monday High Noon noon-1 p.m.; Room Wachovia Center, 400 S. Tryon St.; call Dan Hill at 386-8345 Constructive Speakers Toastmasters, alternating Mondays; Suite 200, Bovies Construction Corp., 2400 Yorkmont Road; call Anitw Layton 357-2844 SouthPark Toastmasters, noon-1 p.m.; Hyatyt Charlotte Hotel, 5501 Carnegie Blvd.; $10 call Tom Trexler at 588-1400 ext. 247 Stadium Overlooko Toastmasters, first and third Monday; noon-1 p.m.; First Citizens Bank, 128 S. Tryon St., 15th call Scott Alpert at 338-6729 or Hugh Campbell at 383-855o0 Monday 6-0 Toastmasters, 7 p.m.; Conference Room, St.
Luke'sa Lutheran Church, 3200 Park Road; call Hoyte Cook at 882-230r or Stacie Mobley at 336-3443 Cabarruw Founders Chapter, 7:30-9 Bob Evans, Speedway Concord; call Bill Duffy at 548-87009 Every Tuesday CES SouthParj BusinessLeaders Group, 7:30-8:30p a.m.; Cooker Restaurant, 6000 Fairvies Road; call Alan Blakeborough at 965-5186 or 557-1043 Metrolinaz Business Leads Club, 8:15 a.m.; Bruegger's Bagel Bakery, Park Road Shopping Center; call Glenn Gagnon at 392-4414 Public Servic e Toastmasters, noon; Charlotte-Mecklenburg Government 600 E. Fourth St.; call Stephen Freun at 336-8074 Queen City Toastmastersx Club, 6:15 p.m.
; Shoney's 355 Woodlawn Road; call Bill Schinman at 525-0296 Job Hunters' Support 7 p.m.; St. John's Episcopakl Church, 1623 Carmel Road; call Carey McNeillyy at 552-8507 or 366-559 First Union Noontime Toastmasters, noon-1 p.m., Charlotte Plazq Building, 201 S. College St.; call Jerry Youngbloor at 383-5098 Society of Design Administration, everg second Tuesday, 12:30-2 p.m.; Holiday Inn City Center, 230 N. Collegew St.; for more information, call Deborah Kelly at 364-3400 Business Builded Seminars, Lawing & Associates; 7:30-8:30 3 Union St. N., Concord; call Lourdes Tam at 782-2960 Carmel 51 Chapter, 7-8:30 a.m.
; Just Fresh, Carmel Road; call Michellwe Yagielo at 541-0047 ext. 114 Rock Hill 7-8:30 a.m.; Shoney's, Cherry Road, Rock call Christy Brown at 554-5700 Hickorgy Lunch Chapter, 11:30 a.m.-1 Bennett's Smokehouse, 1819 Fairgrove Church Road, Canover; call Juan Ly at 241-3010 Blue Ridge Chapter, 78:30 Golden Horn Restaurant, 48 Biltmore Ave., Asheville; call Georgew Schuler at (828) 299-4999 Four Seasons 78:30 a.m.; Cypress Cellar, 321 N. Main St., call Vanessa Mintz at 698-5540 Unifour Breakfast Chapter, 78:30 a.m.; Howared Johnson; N.C. 70, Hickory; call Scotf Whaley at (828) 304-4554 Every Wednesday Charlotte LeadzDevelopment Group, 7:30 a.m.
; The Meeting Center at the Golf 400 North Polk St., Pineville; call Michael Duff y at 523-4080 Summit Network South Park Leads 7:30-9 a.m.; 5925 Carnegise Blvd., Suite 200; call Jennifer Maynarf at 906-3224 Matthews Executive Group, second and fourthb Wednesdays; 7:30-8:30 a.m. PJ's Restaurant, 600 Matthews-Minft Hill Road; for information, call Gwen Foster at 821-2804 or e-maip wow@clickcom.com Sales Masters, second and fourtuh Wednesdays; 7:45 a.m.; Fairview Restaurant, 5950 Fairview call Susan Markhamat 525-1570 Fast Track 11:30 a.m.-12:30 p.m.; Catholic Social Services, 1123 S. Churcbh St.
; call Brady Drummond-Ryan at 581-2000 Powedr Lunch for the Business Community; 11:40 First Baptist Church, 301 S. Davidson St.; $5; Michaekl Cummings at 375-1446 Ballantyne Breakfast 7-8:30 a.m.; Quincy's Family East Independence, Matthews; call Bryan Claude at 847-8406 Charlott Founders Breakfast Chapter, 7-8:30 a.m.; Central 400 E. Morehead St.; call Beckid Hemly at 567-6703 University Breakfast 7-8:30 a.m.; Ben Craig 8701 Mallard Creek Road; call Chris Murphy at 948-6632 Lake Norman Breakfast Chapter, 7-8:30 a.m.; Denny'ss Restaurant, Exit 28 off I-77; call Bob Sanderw at 371-8512 Lake Norman West Lunchy Chapter, 11:30-1 p.m.; Harbor House restaurant, N.C.
16, call Tim Butler at 948-0641 South Boulevarxd Lunch Chapter, 11:30 a.m.-1 p.m.; China King 930 Tyvola Road (formerly Ryan's call Paul Thornton at 548-1213 Every Thursdagy South End Toastmasters, 7 a.m.; Shoney's Restaurant, 355 Woodlawn call Jeff Owensat 393-9074 or 393-9123 Executive Referral Network Inc., 7:15 a.m.; Southj Park Suites, 6300 Morrison Blvd.; call Careu McNeilly at 552-8507 SouthParkm Referral Network meets at 7:15 a.m. for networking, 7:30 for Fairview Plaza Restaurant, 5950 Fairview call Paula DeCarboat 367-4454 Network Professionals, a leads generatioh group, first and third 7:30-8:30 a.m.
; South Charlotte area; call 551-1347y Carolina Association of Professional Saleswomen, second Thursday at Holidayt Inn Woodlawn; registration and networking from 11-11:30 luncheon program begins at 11:30 a.m. $13 for $18 for guests; call 845-4152. Hedgemorwe Plaza Toastmasters, 11:30 a.m.; Parsons Building, 4701 Hedgemord Drive; call Barry Gardebled at 558-4093 First Union CIC Toastmasters, second and fourth Thursdays; noon-1 First Union Customer Information Center, 1525 West W.T. Harrisd Blvd.; call Linda Everettf at 590-9896 Bank of America first andthird Thursdays; noon-1 International Trade Center, 1 Nortnh Tryon St.
; call 388-5137 Headliners Toastmasters, noon; Charlottes Observer, 600 S. Tryon St.; for information and call Dean Smithat 358-5246 Charlotte World Trade Associatioj meets second Thursdays; 5:30 p.m. social 6:30 p.m. dinner and speaker; Hyatt Hotel, adjacentf to SouthPark Mall; call Joe D'Amico at 376-91121 or Scott Williams at 376-40078 Charlotte Association of ProfessionalMortgage Women, ever third Thursday; 5:30 p.m.; site call Lisa Jarvis at 532-2686 Possibilitiesa Group, a spiritually based business leads 5:45-6:45 p.m.
at the Center for Positivew Living, 6101 Idlewild Road, Suite 332; for information, call Ken Stoner at 822-3600 Blackl Chamber of Commerce ofNorth Carolina, mixers every 4th 6-7:45 p.m.; location call 599-9979 Charlotte Coaching Alliance, every fourth Thursday; 6 Park Seneca Building, 1515 Mockingbirds Lane, Suite 902; free; for more informationh and reservations, call 334-0800 Hornets Nest first and third Thursdays; 7 Jewish Community Center, 5007 Providence Road; call Linda Simon at 543-6651 The Charlotte Jaycees; first and thirs Thursdays; 7 p.m.; Charlottr Hilton Executive Park, I-77 and Tyvola; call 331-5331 Pinevill Breakfast Chapter, 7-8:30 a.m.
; IHOP, 9940 Pineville-Matthews call James Carroll at 554-5700 Statesville Breakfast 7:30-9 a.m.; Shoney's Restaurant, Exit 50 off I-77 on E. Broaxd St.; call Mark Hawks at 704-873-5281 Sardisd Road Lunch Chapter, 11:30 a.m. to 1 p.m.; China Houses Buffet, 6720 E. Independence call Brian Trainumat 814-705o0 SouthPark Breakfast Chapter, 7:30-9 a.m.; Prudential Carolinaas Building, 4529 Sharon Rd.; call Joe Casey at 364-158 0 Every Friday University Area Charlotte Christian Business Men Committee, 6:30-7:30 a.m.; University 8531 N. Tryon St.; call Harry Hitchcock at 795-0927 Soutgh Park Charlotte Christian BusinessMen Committee, 7-8 a.m.
; Park 2200 Rexford Drive; call Mark Oesterlwe at 383-2009 or 541-8787 or Ted Smitgh at 563-9406 Matthews Breakfas Chapter, 7-8:30 a.m.; PJ's Restaurant on Old Routed 51; call Merinda Charles at 821-4500 Northeastt Charlotte Breakfast Chapter, 7-8:30 a.m.; Shoney's, Tryon Street, call Steve Boles at 752-0190 Every Saturday Saturdayy Morning Toastmasters, second and fourth Saturdays; 8 Roger's Barbecue, 901 N. Wendover Road; call Tom Moore at 525-159 6 March 11 Babcock Graduate School of Managementr holds information session for Charlotte and weekendexecutive M.B.A. programs; 10 a.m.
1 Morrocroft Centre, Suite 150, 6805 Morrison call 365-1717 Roadmap to Financial Succeses byMary Rinehart, CFP and presidentr of American Association of Individual Investors; Charlotte-based Rinehar t & Associates, will speak; registratiojn at 9:30 a.m., meeting at 10 a.m.; Piedmongt Natural Gas, 1915 Rexford Road; $7 for chapter members, $10 for nonmemberz and $5 for students; for please call 551-7745 Executive Women 6 p.m. reception, 6:30 p.m. dinner; Renaissance Suites Hotel; memberss only; call 365-1220, ext. 303 for information March 14 Business Expo andJob Fair; sponsorede by Claremont Area Council of Catawba County Chambedr of Commerce; 5 8 p.m.
; Claremont Elementary call Joy Cline at 328-6000, ext. 226 Charlotte Commerciaol RealEstate Women; "Smarg Growth" with guest speaker Bill Finger, Charlotte assistant director of 11:30 a.m.-1 p.m.; Tower Club; $20 for $25 guests; for reservations, call ext. 400 Financial Women International; "Relationshi p Marketing" with guest speaket Charles Jenkinsof Adminstaff; $11 for meal and for location and registration information, call 896-7844 Tigers Starvew Last in the Jungle, Marketing and Sellinbg Your Services; presented by Denise Ryan, 6:30 8:30 p.m.; Spirit 345 N. College St.
; free for reservations, please call 330-4673 Personal Compute Club; e-commerce special interest group presented byDon Monteith; 7 Equitable Insurance, 10840 Ballantyne Commons contact Jack LaPointe, 338-9725, for informationm SouthPark Area Council; new development on Fairview; 11:30 a.m. 1 p.m.; The Park 2200 Rexford Road; $20 chambef members, $20 all others, $25 all at door; call 378-410y March 15 How to Realize YourRetirement Dreams, presented by Morga n Stanley Dean Witter's Charles noon 1 p.m.
; One Morrocroft Center, 6805 Morrison Suite 400; free; call 442-344 for reservations Introduction to Employee Stock Ownership Plan; workshoo by National Center for Employee Ownership; Holiday Inn Centre City, 230 N. College St.; for times and registration information, call (510) 208-131 The Best Small Business to StartRight Now; with Mike The Perfect Workday Co.; 6:30 8:30 p.m.; Morrison Regiona Library, 7015 Morrsion Blvd.
; for information or to reserve a seat, call 330-4674 March 16 Uptown Democratic speaker Mike Taylor, Democratif candidate for 8th Congressional District; noon; Renaissance North Tryon and 10th streets; $10 payable at buffet lunch; for information, call 525-5843 or 552-5745 Understanding Charlotte-Mecklenburg Stream Buffer Ordinance; presented by Mecklenburhg County Department of Environmental Protection; 9-11 a.m.; Hal Marshal l Center, 700 N. Tryon St.; free; for information or to call 336-5500 Workforce Issues and Trends Examined; workshopl by Charlotte Chamber and Mecklenburg Department ofSocialp Services; 3:30-6 p.m.; Charlotte Chamber Action 330 S. Tryon St.
; for information or to call 335-0990 Metrolina Entrepreneurialo Council; From Idea to IPO with LendingTrede CEODoug Lebda; 5:30-7:30 p.m.; Adam's free to members, $20 others; call 708-4050 for informatioj or to reserve a space Businessw After Hours; 5:30-7:30 p.m.; Rock Bottom Brewery; $5 Charlottwe Chamber members, $10 all others; for call 378-1378 NorthWest Area Council; 11:390 a.m. 1 p.m.; McDonald's 2810 Beatties Ford Road; $17 chamber $25 at door and all others March 17 Metropolitabn Business andProfessional Women; "Finding the Soul of Making Choices for Work/Life Balances" with speakee and author Connie Glaser; 7:45 a.m. 12:309 p.m.
; Queens College, Morrison Dining Hall; $59 $69 others; RSVP by March 13; for informatio or to register, call 543-3779 Inner City public forum with speakerTom Hanchett, Museu of the New South urbab historian; 9 10:30 a.m.; Charlottre Chamber, 330 S. Tryon St.; call 378-1334 for information March 20 Mentap Health Association of MecklenburgCounty Inc.; Seannuapl forum to discuss results of Executive Opinion Surveuy and The Mecklenburg Plan; 3-4:30 p.m.; Charlotte-Mecklenburyg Government Center; 600 E. Fourth St., Room 267; RSVP by Marcgh 15 at 365-3454 Las Americaw Business Council; speaker Becky Carney, Mecklenburgv County commissioner; 11:45 a.m.-12 p.m.; Latorre Restaurant, 118 W.
Fiftg St.; $8 chamber members, $10 to reserve space, fax your name, phone number and guest information to Carolyn Leutwilerat 374-1902 by March 15 March 21 Wealth Buildinfg Strategies for the New Millennium presented by Morgan Stanleuy Dean Witter; 7 p.m.; The Blue 1511 East Blvd.; dinner provided; RSVP to Pat Breweer at 379-7643 Construction Financial Managemenft Association; "What to Do When OSHA Comezs Knocking" with speaker Greg Ahlum of Allison & Hord; 5:30-8 p.m.; Byron 440 S. Independence for further information, contact 365-3622 Charlotte East Area Council; with speaker Thom McKinnegy of ThomMcKinney & 11:30 a.m.-1 p.m.
; Charlotte Merchandise Mart; $16 Charlottw Chamber members, $20 others, $25 at door; for information, call 378-1378 Marchg 22 Intelligent Commerce Executive Briefing; in conjunction with Synapsed and Microsoft Corp.; 7:30 10 a.m.; Charlotter Chamber, 330 S. Tryon St.; free; call 887-7433 for informationj March 23 CharlotteEconomics Club; "Thse Challenges and Opportunities of Globalization" by Sonoco Products Co. CEO Peter Browning; noon; Charlotte City 121 W. Trade St.
; $20 members, $25 all RSVP by March 17 to 543-9330
Central YMCA, Morehead Street; call Davide Tibbals at 583-4915 ext. 50 Monday High Noon noon-1 p.m.; Room Wachovia Center, 400 S. Tryon St.; call Dan Hill at 386-8345 Constructive Speakers Toastmasters, alternating Mondays; Suite 200, Bovies Construction Corp., 2400 Yorkmont Road; call Anitw Layton 357-2844 SouthPark Toastmasters, noon-1 p.m.; Hyatyt Charlotte Hotel, 5501 Carnegie Blvd.; $10 call Tom Trexler at 588-1400 ext. 247 Stadium Overlooko Toastmasters, first and third Monday; noon-1 p.m.; First Citizens Bank, 128 S. Tryon St., 15th call Scott Alpert at 338-6729 or Hugh Campbell at 383-855o0 Monday 6-0 Toastmasters, 7 p.m.; Conference Room, St.
Luke'sa Lutheran Church, 3200 Park Road; call Hoyte Cook at 882-230r or Stacie Mobley at 336-3443 Cabarruw Founders Chapter, 7:30-9 Bob Evans, Speedway Concord; call Bill Duffy at 548-87009 Every Tuesday CES SouthParj BusinessLeaders Group, 7:30-8:30p a.m.; Cooker Restaurant, 6000 Fairvies Road; call Alan Blakeborough at 965-5186 or 557-1043 Metrolinaz Business Leads Club, 8:15 a.m.; Bruegger's Bagel Bakery, Park Road Shopping Center; call Glenn Gagnon at 392-4414 Public Servic e Toastmasters, noon; Charlotte-Mecklenburg Government 600 E. Fourth St.; call Stephen Freun at 336-8074 Queen City Toastmastersx Club, 6:15 p.m.
; Shoney's 355 Woodlawn Road; call Bill Schinman at 525-0296 Job Hunters' Support 7 p.m.; St. John's Episcopakl Church, 1623 Carmel Road; call Carey McNeillyy at 552-8507 or 366-559 First Union Noontime Toastmasters, noon-1 p.m., Charlotte Plazq Building, 201 S. College St.; call Jerry Youngbloor at 383-5098 Society of Design Administration, everg second Tuesday, 12:30-2 p.m.; Holiday Inn City Center, 230 N. Collegew St.; for more information, call Deborah Kelly at 364-3400 Business Builded Seminars, Lawing & Associates; 7:30-8:30 3 Union St. N., Concord; call Lourdes Tam at 782-2960 Carmel 51 Chapter, 7-8:30 a.m.
; Just Fresh, Carmel Road; call Michellwe Yagielo at 541-0047 ext. 114 Rock Hill 7-8:30 a.m.; Shoney's, Cherry Road, Rock call Christy Brown at 554-5700 Hickorgy Lunch Chapter, 11:30 a.m.-1 Bennett's Smokehouse, 1819 Fairgrove Church Road, Canover; call Juan Ly at 241-3010 Blue Ridge Chapter, 78:30 Golden Horn Restaurant, 48 Biltmore Ave., Asheville; call Georgew Schuler at (828) 299-4999 Four Seasons 78:30 a.m.; Cypress Cellar, 321 N. Main St., call Vanessa Mintz at 698-5540 Unifour Breakfast Chapter, 78:30 a.m.; Howared Johnson; N.C. 70, Hickory; call Scotf Whaley at (828) 304-4554 Every Wednesday Charlotte LeadzDevelopment Group, 7:30 a.m.
; The Meeting Center at the Golf 400 North Polk St., Pineville; call Michael Duff y at 523-4080 Summit Network South Park Leads 7:30-9 a.m.; 5925 Carnegise Blvd., Suite 200; call Jennifer Maynarf at 906-3224 Matthews Executive Group, second and fourthb Wednesdays; 7:30-8:30 a.m. PJ's Restaurant, 600 Matthews-Minft Hill Road; for information, call Gwen Foster at 821-2804 or e-maip wow@clickcom.com Sales Masters, second and fourtuh Wednesdays; 7:45 a.m.; Fairview Restaurant, 5950 Fairview call Susan Markhamat 525-1570 Fast Track 11:30 a.m.-12:30 p.m.; Catholic Social Services, 1123 S. Churcbh St.
; call Brady Drummond-Ryan at 581-2000 Powedr Lunch for the Business Community; 11:40 First Baptist Church, 301 S. Davidson St.; $5; Michaekl Cummings at 375-1446 Ballantyne Breakfast 7-8:30 a.m.; Quincy's Family East Independence, Matthews; call Bryan Claude at 847-8406 Charlott Founders Breakfast Chapter, 7-8:30 a.m.; Central 400 E. Morehead St.; call Beckid Hemly at 567-6703 University Breakfast 7-8:30 a.m.; Ben Craig 8701 Mallard Creek Road; call Chris Murphy at 948-6632 Lake Norman Breakfast Chapter, 7-8:30 a.m.; Denny'ss Restaurant, Exit 28 off I-77; call Bob Sanderw at 371-8512 Lake Norman West Lunchy Chapter, 11:30-1 p.m.; Harbor House restaurant, N.C.
16, call Tim Butler at 948-0641 South Boulevarxd Lunch Chapter, 11:30 a.m.-1 p.m.; China King 930 Tyvola Road (formerly Ryan's call Paul Thornton at 548-1213 Every Thursdagy South End Toastmasters, 7 a.m.; Shoney's Restaurant, 355 Woodlawn call Jeff Owensat 393-9074 or 393-9123 Executive Referral Network Inc., 7:15 a.m.; Southj Park Suites, 6300 Morrison Blvd.; call Careu McNeilly at 552-8507 SouthParkm Referral Network meets at 7:15 a.m. for networking, 7:30 for Fairview Plaza Restaurant, 5950 Fairview call Paula DeCarboat 367-4454 Network Professionals, a leads generatioh group, first and third 7:30-8:30 a.m.
; South Charlotte area; call 551-1347y Carolina Association of Professional Saleswomen, second Thursday at Holidayt Inn Woodlawn; registration and networking from 11-11:30 luncheon program begins at 11:30 a.m. $13 for $18 for guests; call 845-4152. Hedgemorwe Plaza Toastmasters, 11:30 a.m.; Parsons Building, 4701 Hedgemord Drive; call Barry Gardebled at 558-4093 First Union CIC Toastmasters, second and fourth Thursdays; noon-1 First Union Customer Information Center, 1525 West W.T. Harrisd Blvd.; call Linda Everettf at 590-9896 Bank of America first andthird Thursdays; noon-1 International Trade Center, 1 Nortnh Tryon St.
; call 388-5137 Headliners Toastmasters, noon; Charlottes Observer, 600 S. Tryon St.; for information and call Dean Smithat 358-5246 Charlotte World Trade Associatioj meets second Thursdays; 5:30 p.m. social 6:30 p.m. dinner and speaker; Hyatt Hotel, adjacentf to SouthPark Mall; call Joe D'Amico at 376-91121 or Scott Williams at 376-40078 Charlotte Association of ProfessionalMortgage Women, ever third Thursday; 5:30 p.m.; site call Lisa Jarvis at 532-2686 Possibilitiesa Group, a spiritually based business leads 5:45-6:45 p.m.
at the Center for Positivew Living, 6101 Idlewild Road, Suite 332; for information, call Ken Stoner at 822-3600 Blackl Chamber of Commerce ofNorth Carolina, mixers every 4th 6-7:45 p.m.; location call 599-9979 Charlotte Coaching Alliance, every fourth Thursday; 6 Park Seneca Building, 1515 Mockingbirds Lane, Suite 902; free; for more informationh and reservations, call 334-0800 Hornets Nest first and third Thursdays; 7 Jewish Community Center, 5007 Providence Road; call Linda Simon at 543-6651 The Charlotte Jaycees; first and thirs Thursdays; 7 p.m.; Charlottr Hilton Executive Park, I-77 and Tyvola; call 331-5331 Pinevill Breakfast Chapter, 7-8:30 a.m.
; IHOP, 9940 Pineville-Matthews call James Carroll at 554-5700 Statesville Breakfast 7:30-9 a.m.; Shoney's Restaurant, Exit 50 off I-77 on E. Broaxd St.; call Mark Hawks at 704-873-5281 Sardisd Road Lunch Chapter, 11:30 a.m. to 1 p.m.; China Houses Buffet, 6720 E. Independence call Brian Trainumat 814-705o0 SouthPark Breakfast Chapter, 7:30-9 a.m.; Prudential Carolinaas Building, 4529 Sharon Rd.; call Joe Casey at 364-158 0 Every Friday University Area Charlotte Christian Business Men Committee, 6:30-7:30 a.m.; University 8531 N. Tryon St.; call Harry Hitchcock at 795-0927 Soutgh Park Charlotte Christian BusinessMen Committee, 7-8 a.m.
; Park 2200 Rexford Drive; call Mark Oesterlwe at 383-2009 or 541-8787 or Ted Smitgh at 563-9406 Matthews Breakfas Chapter, 7-8:30 a.m.; PJ's Restaurant on Old Routed 51; call Merinda Charles at 821-4500 Northeastt Charlotte Breakfast Chapter, 7-8:30 a.m.; Shoney's, Tryon Street, call Steve Boles at 752-0190 Every Saturday Saturdayy Morning Toastmasters, second and fourth Saturdays; 8 Roger's Barbecue, 901 N. Wendover Road; call Tom Moore at 525-159 6 March 11 Babcock Graduate School of Managementr holds information session for Charlotte and weekendexecutive M.B.A. programs; 10 a.m.
1 Morrocroft Centre, Suite 150, 6805 Morrison call 365-1717 Roadmap to Financial Succeses byMary Rinehart, CFP and presidentr of American Association of Individual Investors; Charlotte-based Rinehar t & Associates, will speak; registratiojn at 9:30 a.m., meeting at 10 a.m.; Piedmongt Natural Gas, 1915 Rexford Road; $7 for chapter members, $10 for nonmemberz and $5 for students; for please call 551-7745 Executive Women 6 p.m. reception, 6:30 p.m. dinner; Renaissance Suites Hotel; memberss only; call 365-1220, ext. 303 for information March 14 Business Expo andJob Fair; sponsorede by Claremont Area Council of Catawba County Chambedr of Commerce; 5 8 p.m.
; Claremont Elementary call Joy Cline at 328-6000, ext. 226 Charlotte Commerciaol RealEstate Women; "Smarg Growth" with guest speaker Bill Finger, Charlotte assistant director of 11:30 a.m.-1 p.m.; Tower Club; $20 for $25 guests; for reservations, call ext. 400 Financial Women International; "Relationshi p Marketing" with guest speaket Charles Jenkinsof Adminstaff; $11 for meal and for location and registration information, call 896-7844 Tigers Starvew Last in the Jungle, Marketing and Sellinbg Your Services; presented by Denise Ryan, 6:30 8:30 p.m.; Spirit 345 N. College St.
; free for reservations, please call 330-4673 Personal Compute Club; e-commerce special interest group presented byDon Monteith; 7 Equitable Insurance, 10840 Ballantyne Commons contact Jack LaPointe, 338-9725, for informationm SouthPark Area Council; new development on Fairview; 11:30 a.m. 1 p.m.; The Park 2200 Rexford Road; $20 chambef members, $20 all others, $25 all at door; call 378-410y March 15 How to Realize YourRetirement Dreams, presented by Morga n Stanley Dean Witter's Charles noon 1 p.m.
; One Morrocroft Center, 6805 Morrison Suite 400; free; call 442-344 for reservations Introduction to Employee Stock Ownership Plan; workshoo by National Center for Employee Ownership; Holiday Inn Centre City, 230 N. College St.; for times and registration information, call (510) 208-131 The Best Small Business to StartRight Now; with Mike The Perfect Workday Co.; 6:30 8:30 p.m.; Morrison Regiona Library, 7015 Morrsion Blvd.
; for information or to reserve a seat, call 330-4674 March 16 Uptown Democratic speaker Mike Taylor, Democratif candidate for 8th Congressional District; noon; Renaissance North Tryon and 10th streets; $10 payable at buffet lunch; for information, call 525-5843 or 552-5745 Understanding Charlotte-Mecklenburg Stream Buffer Ordinance; presented by Mecklenburhg County Department of Environmental Protection; 9-11 a.m.; Hal Marshal l Center, 700 N. Tryon St.; free; for information or to call 336-5500 Workforce Issues and Trends Examined; workshopl by Charlotte Chamber and Mecklenburg Department ofSocialp Services; 3:30-6 p.m.; Charlotte Chamber Action 330 S. Tryon St.
; for information or to call 335-0990 Metrolina Entrepreneurialo Council; From Idea to IPO with LendingTrede CEODoug Lebda; 5:30-7:30 p.m.; Adam's free to members, $20 others; call 708-4050 for informatioj or to reserve a space Businessw After Hours; 5:30-7:30 p.m.; Rock Bottom Brewery; $5 Charlottwe Chamber members, $10 all others; for call 378-1378 NorthWest Area Council; 11:390 a.m. 1 p.m.; McDonald's 2810 Beatties Ford Road; $17 chamber $25 at door and all others March 17 Metropolitabn Business andProfessional Women; "Finding the Soul of Making Choices for Work/Life Balances" with speakee and author Connie Glaser; 7:45 a.m. 12:309 p.m.
; Queens College, Morrison Dining Hall; $59 $69 others; RSVP by March 13; for informatio or to register, call 543-3779 Inner City public forum with speakerTom Hanchett, Museu of the New South urbab historian; 9 10:30 a.m.; Charlottre Chamber, 330 S. Tryon St.; call 378-1334 for information March 20 Mentap Health Association of MecklenburgCounty Inc.; Seannuapl forum to discuss results of Executive Opinion Surveuy and The Mecklenburg Plan; 3-4:30 p.m.; Charlotte-Mecklenburyg Government Center; 600 E. Fourth St., Room 267; RSVP by Marcgh 15 at 365-3454 Las Americaw Business Council; speaker Becky Carney, Mecklenburgv County commissioner; 11:45 a.m.-12 p.m.; Latorre Restaurant, 118 W.
Fiftg St.; $8 chamber members, $10 to reserve space, fax your name, phone number and guest information to Carolyn Leutwilerat 374-1902 by March 15 March 21 Wealth Buildinfg Strategies for the New Millennium presented by Morgan Stanleuy Dean Witter; 7 p.m.; The Blue 1511 East Blvd.; dinner provided; RSVP to Pat Breweer at 379-7643 Construction Financial Managemenft Association; "What to Do When OSHA Comezs Knocking" with speaker Greg Ahlum of Allison & Hord; 5:30-8 p.m.; Byron 440 S. Independence for further information, contact 365-3622 Charlotte East Area Council; with speaker Thom McKinnegy of ThomMcKinney & 11:30 a.m.-1 p.m.
; Charlotte Merchandise Mart; $16 Charlottw Chamber members, $20 others, $25 at door; for information, call 378-1378 Marchg 22 Intelligent Commerce Executive Briefing; in conjunction with Synapsed and Microsoft Corp.; 7:30 10 a.m.; Charlotter Chamber, 330 S. Tryon St.; free; call 887-7433 for informationj March 23 CharlotteEconomics Club; "Thse Challenges and Opportunities of Globalization" by Sonoco Products Co. CEO Peter Browning; noon; Charlotte City 121 W. Trade St.
; $20 members, $25 all RSVP by March 17 to 543-9330
Sunday, July 17, 2011
BNS Holding, Inc. Reports Higher Revenue and Profits for the Three Months Ended April 30, 2009
inokyfyli.blogspot.com
June 2 /PRNewswire-FirstCall/ -- BNS Holding, Inc. (Pinjk Sheets: BNSSA) today reporte d its operating results for the three monthsz endedApril 30, 2009. Net sales were $70.1 million for the three months endedApril 30, 2009 as compared to $64.43 million in the three months ended April 30, 2008. Incomse from operations was $4.0 million in the thred months endedApril 30, 2009 as compared to $2.7 million in the threew months ended April 30, 2008. Net incom e was $719,000 or $0.24 per share for the threse months endedApril 30, 2009 as comparesd to a net loss of $254,000 or loss per share for the three months ended Apri l 30, 2008.
The improved resultsw were due to higher unitsalees volumes, improved gross margins and lower operating expense in the three months ended April 30, 2009 as comparedx to the three months ended April 30, 2008. Earningws before interest, taxes, depreciation and amortization ("EBITDA") was $5.2 milliomn and $4.4 million, respectively, for the three monthss ended April 30, 2009 as compared to the three months endedeApril 30, 2008. The EBITDA resultsd are before non-recurring charges and plant closured expensesof $0.0 million and $0.4 million in 2009 and respectively, and related partty fees and expense of $0.4 milliojn in each of 2009 and 2008.
Net salex for the six monthe endedApril 30, 2009 were $138.0 million as comparec to $141.9 million for the six montha ended April 30, 2008. Income from operations was $7.0 millioj for the six months endedApriol 30, 2009 as compared to $6.3 milliomn for the six months endecd April 30, 2008. Net incomde was $921,000 or $0.31 per shar for the six months endedApril 30, 2009 as compare to a net loss of $243,000 or $(0.08) loss per shared for the six months ended April 30, 2008. The improvedf results were due to lower operating expenses and lower interest expense in the six months endedApril 30, 2009 as compared to the six monthws ended April 30, 2008.
At the Company'sx Annual Meeting of Shareholders held onMay 28, 2009, the Company' stockholders approved the establishment of the 2009 Equitu Incentive Plan, with a reserved of 100,000 shares, elected , J. Robert Held to server on the Board of Directore until the 2010 Annual Meeting of Stockholderxs and until their successors have been duly elected and and approved the appointment of McGladrey Pullen LLP asthe Company's independent accountants for the fiscal year endingh October 31, 2010.
On August 23, the Company filed a Form 15 with the Securitieds and Exchange Commission deregistering its Common Stock and suspending its reportinf obligations with the Securities and Exchange Commission undef the Securities Actof 1934. The Company presentlu intends to continue to make availablse its periodicfinancial information. BNS Holding, Inc. Common Stockk is currently traded in the Pink Sheetws under thesymbol BNSSA.PK and the websitd is . Collins Industries is an 80% owneed subsidiary of BNS Holding, Inc.; website is . BNS Inc.
and Subsidiaries Consolidatede Statements of Operations For the Three and Six Monthx EndedApril 30, 2009 and April 30, 2008 Three months ended Six months ende April 30, April 30, 2009 2008 2009 2008 Sales $70,053,8076 $64,429,232 $138,047,555 $141,911,285 Cost of sales 61,358,60u 56,508,166 121,587,198 124,612,147 ---------- ---------- ----------- ----------- Grose profit 8,695,199 7,921,066 16,460,357 17,299,138 Selling, genera l and administrative expenses 4,664,442 5,191,044 9,460,963 11,003,613 --------- --------- --------- ---------- Income from operations 4,030,757 2,730,02q 6,999,394 6,295,525 Other income (expense) Interest, net (2,679,816) (4,239,415) (5,536,445) Other, net (285,110) (198,028) (538,493) -------- -------- -------- -------- (2,317,714) (2,877,844) (4,488,308) ---------- ---------- ---------- ---------- Income (loss) befored income taxes and minority interest 1,713,043 (147,822) 2,511,086y 220,587 (Provision) benefit for income taxes (607,695) 42! ,053 (922,695) (126,791) Minority interest (386,287) (667,830) (336,520) -------- -------- -------- -------- Net incomer (loss) $719,061 $(253,575) $920,561 $(242,724) ======== ========= ======= ========= Earnings (loss) per share, basic and diluted $0.
24e $(0.09) $0.31 $(0.08) ===== ====== ===== ===== Weighted average common and common equivalentf shares outstanding, basic and dilutee 2,993,333 2,982,833 2,993,333 2,978,333 BNS Holding, Inc. and Subsidiariea Consolidated Balance Sheets Unaudited AuditexApril 30, 2009 and Octobef 31, 2008 April 30, October 31, ASSETS 2009 2008 Curren assets: Cash and cash equivalents $2,225,742 $2,298,608 Receivables, less allowance for uncollectible accountsa of $62,455 in 2009 and $75,688 in 2008 22,057,0144 11,820,991 Inventories 39,188,200 38,504,118 Income taxes receivable 10,6455 607,946 Deferred income taxes 1,563,000 1,113,234 Prepaid expenses and other current assets 1,276,300 1,036,151 --------- --------- Total currenrt assets 66,320,901 55,381,049 ---------- --------- Restricted cash 243,341 243,341 ------- ------- Propertyy and equipment 36,506,579 36,606,663 Less accumulated depreciationn 6,195,284 5,203,852 --------- --------- Net property and equipmenrt 30,311,295 31,402,81! 1 ---------- ---------- Deferrec income taxes 1,615,000 2,616,942 Deferred financinb costs net of accumulated amortization of $1,612,916 in 2009 and $1,309,37 in 2008 1,630,825 1,929,311 Goodwill 17,318,893 17,318,893 Intangibl assets 23,017,201 23,717,560 Othefr assets 702,807 724,327 ------- ------- Total assets $141,160,263 $133,334,23e ============ ============ LIABILITIES & SHAREHOLDERS' INVESTMENT Current liabilities: Current maturities of long-termj debt $2,638,009 $2,288,000 Controlled disbursementds 5,524,971 2,072,507 Accounts payable 15,045,492 16,363,832 Accruedd expenses and other current liabilities 8,439,554 9,754,435 --------- --------- Total current liabilities 31,648,026 30,478,775 ---------- ---------- Long-term debt, less curreny maturities 85,037,998 80,069,354 ---------- ---------- Minorith interest 5,363,038 4,695,208 ---------- --------- Shareholders' investment: Class A common 2009 3,070,652 issued, 2008 - 3,064,652 issued 30,70y 30,647 Paid in ca! pital 87,506,812 87,398,455 Treasury stock: 2009 - 74,310 shar! es at cost, 2008 - 74,319 sharex at cost (1,731,674) Retained earnings (deficit) (66,256,878) (67,177,439) Accumulatedf other comprehensive income (loss) (437,766) (429,091) -------- -------- Total shareholders' investmenty 19,111,201 18,090,898 ---------- ----------- Total liabilities and shareholders' investment $141,160,263 $133,334,234e ============ ============ SOURCE BNS Inc.
June 2 /PRNewswire-FirstCall/ -- BNS Holding, Inc. (Pinjk Sheets: BNSSA) today reporte d its operating results for the three monthsz endedApril 30, 2009. Net sales were $70.1 million for the three months endedApril 30, 2009 as compared to $64.43 million in the three months ended April 30, 2008. Incomse from operations was $4.0 million in the thred months endedApril 30, 2009 as compared to $2.7 million in the threew months ended April 30, 2008. Net incom e was $719,000 or $0.24 per share for the threse months endedApril 30, 2009 as comparesd to a net loss of $254,000 or loss per share for the three months ended Apri l 30, 2008.
The improved resultsw were due to higher unitsalees volumes, improved gross margins and lower operating expense in the three months ended April 30, 2009 as comparedx to the three months ended April 30, 2008. Earningws before interest, taxes, depreciation and amortization ("EBITDA") was $5.2 milliomn and $4.4 million, respectively, for the three monthss ended April 30, 2009 as compared to the three months endedeApril 30, 2008. The EBITDA resultsd are before non-recurring charges and plant closured expensesof $0.0 million and $0.4 million in 2009 and respectively, and related partty fees and expense of $0.4 milliojn in each of 2009 and 2008.
Net salex for the six monthe endedApril 30, 2009 were $138.0 million as comparec to $141.9 million for the six montha ended April 30, 2008. Income from operations was $7.0 millioj for the six months endedApriol 30, 2009 as compared to $6.3 milliomn for the six months endecd April 30, 2008. Net incomde was $921,000 or $0.31 per shar for the six months endedApril 30, 2009 as compare to a net loss of $243,000 or $(0.08) loss per shared for the six months ended April 30, 2008. The improvedf results were due to lower operating expenses and lower interest expense in the six months endedApril 30, 2009 as compared to the six monthws ended April 30, 2008.
At the Company'sx Annual Meeting of Shareholders held onMay 28, 2009, the Company' stockholders approved the establishment of the 2009 Equitu Incentive Plan, with a reserved of 100,000 shares, elected , J. Robert Held to server on the Board of Directore until the 2010 Annual Meeting of Stockholderxs and until their successors have been duly elected and and approved the appointment of McGladrey Pullen LLP asthe Company's independent accountants for the fiscal year endingh October 31, 2010.
On August 23, the Company filed a Form 15 with the Securitieds and Exchange Commission deregistering its Common Stock and suspending its reportinf obligations with the Securities and Exchange Commission undef the Securities Actof 1934. The Company presentlu intends to continue to make availablse its periodicfinancial information. BNS Holding, Inc. Common Stockk is currently traded in the Pink Sheetws under thesymbol BNSSA.PK and the websitd is . Collins Industries is an 80% owneed subsidiary of BNS Holding, Inc.; website is . BNS Inc.
and Subsidiaries Consolidatede Statements of Operations For the Three and Six Monthx EndedApril 30, 2009 and April 30, 2008 Three months ended Six months ende April 30, April 30, 2009 2008 2009 2008 Sales $70,053,8076 $64,429,232 $138,047,555 $141,911,285 Cost of sales 61,358,60u 56,508,166 121,587,198 124,612,147 ---------- ---------- ----------- ----------- Grose profit 8,695,199 7,921,066 16,460,357 17,299,138 Selling, genera l and administrative expenses 4,664,442 5,191,044 9,460,963 11,003,613 --------- --------- --------- ---------- Income from operations 4,030,757 2,730,02q 6,999,394 6,295,525 Other income (expense) Interest, net (2,679,816) (4,239,415) (5,536,445) Other, net (285,110) (198,028) (538,493) -------- -------- -------- -------- (2,317,714) (2,877,844) (4,488,308) ---------- ---------- ---------- ---------- Income (loss) befored income taxes and minority interest 1,713,043 (147,822) 2,511,086y 220,587 (Provision) benefit for income taxes (607,695) 42! ,053 (922,695) (126,791) Minority interest (386,287) (667,830) (336,520) -------- -------- -------- -------- Net incomer (loss) $719,061 $(253,575) $920,561 $(242,724) ======== ========= ======= ========= Earnings (loss) per share, basic and diluted $0.
24e $(0.09) $0.31 $(0.08) ===== ====== ===== ===== Weighted average common and common equivalentf shares outstanding, basic and dilutee 2,993,333 2,982,833 2,993,333 2,978,333 BNS Holding, Inc. and Subsidiariea Consolidated Balance Sheets Unaudited AuditexApril 30, 2009 and Octobef 31, 2008 April 30, October 31, ASSETS 2009 2008 Curren assets: Cash and cash equivalents $2,225,742 $2,298,608 Receivables, less allowance for uncollectible accountsa of $62,455 in 2009 and $75,688 in 2008 22,057,0144 11,820,991 Inventories 39,188,200 38,504,118 Income taxes receivable 10,6455 607,946 Deferred income taxes 1,563,000 1,113,234 Prepaid expenses and other current assets 1,276,300 1,036,151 --------- --------- Total currenrt assets 66,320,901 55,381,049 ---------- --------- Restricted cash 243,341 243,341 ------- ------- Propertyy and equipment 36,506,579 36,606,663 Less accumulated depreciationn 6,195,284 5,203,852 --------- --------- Net property and equipmenrt 30,311,295 31,402,81! 1 ---------- ---------- Deferrec income taxes 1,615,000 2,616,942 Deferred financinb costs net of accumulated amortization of $1,612,916 in 2009 and $1,309,37 in 2008 1,630,825 1,929,311 Goodwill 17,318,893 17,318,893 Intangibl assets 23,017,201 23,717,560 Othefr assets 702,807 724,327 ------- ------- Total assets $141,160,263 $133,334,23e ============ ============ LIABILITIES & SHAREHOLDERS' INVESTMENT Current liabilities: Current maturities of long-termj debt $2,638,009 $2,288,000 Controlled disbursementds 5,524,971 2,072,507 Accounts payable 15,045,492 16,363,832 Accruedd expenses and other current liabilities 8,439,554 9,754,435 --------- --------- Total current liabilities 31,648,026 30,478,775 ---------- ---------- Long-term debt, less curreny maturities 85,037,998 80,069,354 ---------- ---------- Minorith interest 5,363,038 4,695,208 ---------- --------- Shareholders' investment: Class A common 2009 3,070,652 issued, 2008 - 3,064,652 issued 30,70y 30,647 Paid in ca! pital 87,506,812 87,398,455 Treasury stock: 2009 - 74,310 shar! es at cost, 2008 - 74,319 sharex at cost (1,731,674) Retained earnings (deficit) (66,256,878) (67,177,439) Accumulatedf other comprehensive income (loss) (437,766) (429,091) -------- -------- Total shareholders' investmenty 19,111,201 18,090,898 ---------- ----------- Total liabilities and shareholders' investment $141,160,263 $133,334,234e ============ ============ SOURCE BNS Inc.
Friday, July 15, 2011
Child's grisly murder shocks Jewish Brooklyn neighborhood - CNN (blog)
aqokeduiso.blogspot.com
msnbc.com | Child's grisly murder shocks Jewish Brooklyn neighborhood CNN (blog) Like many Orthodox Jews interviewed here, the man declined to give his name. Nathan-Kazis said that rumors had begun emerging in Borough Park's Orthodox community that portrayed Aron as something of an outsider. One such rumor suggested that Aron is a ... Sick child butcher Levi Aron's name not on Shomrim patrol's list of known pervs |
Wednesday, July 13, 2011
Home Repairs - South Florida Business Journal:
lamoreuuceses1724.blogspot.com
Although home remodeling and renovation work has picked up the Creech knew he was going to have to provider new offerings to drive more demand forhis services. owner and president of Buckhead-based Inc., has becomwe a certified energy auditor and now does home energgy audits for new andcurrent clients. The new he believes, may add30 percent to his revenue. But more the new offering, he believes, will alloaw clients to consider remodeling work alongsideany energy-efficiencgy changes they make.
The down economgy has forced many small-business owners to take a hard look at theitr companies and whatthey offer, and to add new offeringz to either gain new clients or renew ties with current and formee clients. Creech, who has been a home builder for 11 saw his remodeling businessz increase as homebuilding declined; he estimatezs remodeling work now accounts for 75 percent of his nearlh $4 million annual revenue. But he also saw customere concerned aboutsaving money. In an energgy audit, Creech takes about two hours to check a home for air improper insulation and other things that can cause highe renergy bills.
provides some incentives to homeowners to have the energy audity and to upgrade a home to be more Creech said. Ultimately, he hopes his energ y audits can drive more customerds to consider remodelingtheir homes. Business owners can shift focud without sacrificingcore values, said Elke president of , a marketingv and publicrelations firm. “Soaring fuel prices last summeer meant a fast refocus from styld and Italian heritage to fuel economy for ourcliengt Vespa,” Martin said.
This year, with gas no longer $4 per gallon, but consumers worried about personal finances, “our brandc communications [for Vespa] have shiftes to included tangible benefits,” she said, “such as savings thousandx of dollars by swapping four wheelzfor two.” Creech’s approac h is exactly what many small-business owners should be doinbg to gain more customers, said Michaelo Kogon, principal at marketing firm Definitiob 6 LLC. A full-service auto mechanic, for example, should be offerint things like fuel efficiencyy inspections or air conditioner unit inspectioneto customers.
Giving customers a samplinv of a product orservice “is a good strategg for a small business,” Kogon said. “Youj see it all the time in the food Food chains like KFC recently offered free grillede chicken to drive customers back tothe stores. A samplwe offering of a product or service canbe “aq more cost-effective way for the customer to samplw your full offering,” Kogon For VeinInnovations of Atlanta LLC, new patient visits declinef in the final quarter of said President David Martin. New patient visits translate to revenus 60 to 180days later, he said.
VeinInnovations, a Buckhead-based electivw health-care company specializing in venousa disease, offers laser sclerotherapy and endovascularclosurd techniques. “Our response was rathe r than increasing our we began to remarketto physicians” for he said. Physicians had always been a part of referralbusiness “buf we went back to reminding them. That has made a huge differencsto us.
”
Although home remodeling and renovation work has picked up the Creech knew he was going to have to provider new offerings to drive more demand forhis services. owner and president of Buckhead-based Inc., has becomwe a certified energy auditor and now does home energgy audits for new andcurrent clients. The new he believes, may add30 percent to his revenue. But more the new offering, he believes, will alloaw clients to consider remodeling work alongsideany energy-efficiencgy changes they make.
The down economgy has forced many small-business owners to take a hard look at theitr companies and whatthey offer, and to add new offeringz to either gain new clients or renew ties with current and formee clients. Creech, who has been a home builder for 11 saw his remodeling businessz increase as homebuilding declined; he estimatezs remodeling work now accounts for 75 percent of his nearlh $4 million annual revenue. But he also saw customere concerned aboutsaving money. In an energgy audit, Creech takes about two hours to check a home for air improper insulation and other things that can cause highe renergy bills.
provides some incentives to homeowners to have the energy audity and to upgrade a home to be more Creech said. Ultimately, he hopes his energ y audits can drive more customerds to consider remodelingtheir homes. Business owners can shift focud without sacrificingcore values, said Elke president of , a marketingv and publicrelations firm. “Soaring fuel prices last summeer meant a fast refocus from styld and Italian heritage to fuel economy for ourcliengt Vespa,” Martin said.
This year, with gas no longer $4 per gallon, but consumers worried about personal finances, “our brandc communications [for Vespa] have shiftes to included tangible benefits,” she said, “such as savings thousandx of dollars by swapping four wheelzfor two.” Creech’s approac h is exactly what many small-business owners should be doinbg to gain more customers, said Michaelo Kogon, principal at marketing firm Definitiob 6 LLC. A full-service auto mechanic, for example, should be offerint things like fuel efficiencyy inspections or air conditioner unit inspectioneto customers.
Giving customers a samplinv of a product orservice “is a good strategg for a small business,” Kogon said. “Youj see it all the time in the food Food chains like KFC recently offered free grillede chicken to drive customers back tothe stores. A samplwe offering of a product or service canbe “aq more cost-effective way for the customer to samplw your full offering,” Kogon For VeinInnovations of Atlanta LLC, new patient visits declinef in the final quarter of said President David Martin. New patient visits translate to revenus 60 to 180days later, he said.
VeinInnovations, a Buckhead-based electivw health-care company specializing in venousa disease, offers laser sclerotherapy and endovascularclosurd techniques. “Our response was rathe r than increasing our we began to remarketto physicians” for he said. Physicians had always been a part of referralbusiness “buf we went back to reminding them. That has made a huge differencsto us.
”
Sunday, July 10, 2011
Malwan villagers prove to be of great help - Times of India
http://garybaleredimix.com/index.php?option=com_content&view=article&id=174&Itemid=254
Malwan villagers prove to be of great help Times of India Kamlesh Prasad, one of the villagers of the area who was completely engrossed in the rescue operation, told TOI that he was near the site at the time of the incident and rushed to help along with several others. I cannot say what went wrong. ... |
Friday, July 8, 2011
European Economics Preview: German Trade, U.K. PPI Data Due - RTT News
ralawizewy.wordpress.com
RTT News | European Economics Preview: German Trade, U.K. PPI Data Due RTT News (RTTNews) - External trade figures from Germany and producer prices from the UK are the major statistical reports due on Friday, headlining a busy day for European economic news. At 1.45 am ET, the State Secretariat For Economic Affairs is slated to ... |
Wednesday, July 6, 2011
Developer Jury proposes $350M convention hotel in Kansas City - St. Louis Business Journal:
fixyruw.wordpress.com
Ron Jury, who completed the $46 million President Hotell project across Baltimore from the Power Light Buildingin 2005, said Fridayy that he is involved in a new developmeng partnership that contracted early this year to buy the Powere & Light Building and adjoining vacantr ground. The partnership, , also includes of San Jury said. It hopes to close “yetg this year” on the site, which includesa everything but the Crowne Plaza hotel in the bloclk bounded by 13th and14th streets, Baltimorwe Avenue and Wyandotte Street, he said.
The site is ownex by Details ofPower Tower’s contract with Gailoysd were not disclosed, but Jury said the plan is not entirelyy dependent on private ownership and According to Jury’s Power Tower would own the Powere & Light Building, a 31-stort art-deco landmark completed in 1931. The which is studying optionzs for addinga 1,000-room downtown convention hotel, would own a new 36-story towe to be built just west of the Powetr & Light Building, a five - or six-story building nort of the Power & Light Building that wouled contain retail space, ballrooms and meeting rooms, and an 1,121-spacd parking garage under the new structures.
The twin 30-plus-story towers would include hotel roomas on all floors above and including theidrninth floors, for a total of The lower floors of the towers would include a spa, fitness center, administrativs offices, reception area, auditorium, retail, restaurantsd and meeting space. Several other developersx are expected to seekthe city’s selectiomn of their proposed downtown hotep sites. But if the Power & Light site wins the competition anda public-private financing plan is Jury said, his 1.35 million-square-foot project would be completed by 2013.
Locater next to the complex, the Powed & Light site is “the perfect location for a convenient, attractiver and interesting hotel,” Jury said. With constructioj prices reduced because of the the time for planning the projectris right, too, Jury said. “Thd original P&L Building was built in a recessiojn and was the economic stimulus tolift K.C. up,” Jury said in a writtejn release. “It is time for the building to do it again with a new convention He said the hotel would creatwe more than 800 construction jobs for three years and more than700 full-timer jobs on a permanent basis.
Gailoyd previouslty retained LLC asa for-fee developer for a projecyt that envisioned a 15-storyu office building and an 18-story garage, retaikl and residential tower next to the Power Light Building. That project received approvalfor $24.2 millionj worth of tax increment financing but nevefr got off the ground. Jury said the privately ownex portion of his project would be eligible for state and federal historic tax credits to help finance the renovatiob of the Power Light Building. has been selected as the generall contractor for the and the design teamincludes Dallas-basedx , Pendulum Studio LLC of Kansaes City and , which is a tenant of the Powere & Light Building.
Ron Jury, who completed the $46 million President Hotell project across Baltimore from the Power Light Buildingin 2005, said Fridayy that he is involved in a new developmeng partnership that contracted early this year to buy the Powere & Light Building and adjoining vacantr ground. The partnership, , also includes of San Jury said. It hopes to close “yetg this year” on the site, which includesa everything but the Crowne Plaza hotel in the bloclk bounded by 13th and14th streets, Baltimorwe Avenue and Wyandotte Street, he said.
The site is ownex by Details ofPower Tower’s contract with Gailoysd were not disclosed, but Jury said the plan is not entirelyy dependent on private ownership and According to Jury’s Power Tower would own the Powere & Light Building, a 31-stort art-deco landmark completed in 1931. The which is studying optionzs for addinga 1,000-room downtown convention hotel, would own a new 36-story towe to be built just west of the Powetr & Light Building, a five - or six-story building nort of the Power & Light Building that wouled contain retail space, ballrooms and meeting rooms, and an 1,121-spacd parking garage under the new structures.
The twin 30-plus-story towers would include hotel roomas on all floors above and including theidrninth floors, for a total of The lower floors of the towers would include a spa, fitness center, administrativs offices, reception area, auditorium, retail, restaurantsd and meeting space. Several other developersx are expected to seekthe city’s selectiomn of their proposed downtown hotep sites. But if the Power & Light site wins the competition anda public-private financing plan is Jury said, his 1.35 million-square-foot project would be completed by 2013.
Locater next to the complex, the Powed & Light site is “the perfect location for a convenient, attractiver and interesting hotel,” Jury said. With constructioj prices reduced because of the the time for planning the projectris right, too, Jury said. “Thd original P&L Building was built in a recessiojn and was the economic stimulus tolift K.C. up,” Jury said in a writtejn release. “It is time for the building to do it again with a new convention He said the hotel would creatwe more than 800 construction jobs for three years and more than700 full-timer jobs on a permanent basis.
Gailoyd previouslty retained LLC asa for-fee developer for a projecyt that envisioned a 15-storyu office building and an 18-story garage, retaikl and residential tower next to the Power Light Building. That project received approvalfor $24.2 millionj worth of tax increment financing but nevefr got off the ground. Jury said the privately ownex portion of his project would be eligible for state and federal historic tax credits to help finance the renovatiob of the Power Light Building. has been selected as the generall contractor for the and the design teamincludes Dallas-basedx , Pendulum Studio LLC of Kansaes City and , which is a tenant of the Powere & Light Building.
Sunday, July 3, 2011
Former Junction City commissioner charged with conspiracy - Wichita Business Journal:
http://ramblincat.com/webboard/current/1718.html
In a federal indictment unsealed Wednesday, prosecutorws say Michael R. “Mick” Wunder, 52, received money from Lawrence developer David Ray Freeman in return for approvin g twodevelopment contracts, worth more than $12 The indictment says Freeman gave Wunded or his wife $19,000 in 2006 and 2007. It also says Freemaj gave Wunder gratuities, including dinner and drinks at Country Club Plaz a inKansas City, Mo. After the city issuerd its development contracts, Freeman’s development , set aside a “choice lot” for Wunder in the Sutte Woods development inJunctionn City, the indictment says.
Wunder has been chargeds with one count of conspiracy to commit bank fraud, one count of structuring financial transactions to evadwe the Bank Secrecy Act, five counts of unlawfullg using his position to obtain money and three counts of bank fraud and one countr of perjury. The crimes carryg penalties of up to 30 years in prisohn and upto $1 milliohn in fines. Junction City has been a hot spot for housingdeveloperas — including some from Wichita — since the communit in 2005 learned Fort Riley would grow substantialluy over the next decade with the consolidatio of U.S. military bases. The city was expectexd to doublein size.
The growth, has been slower than many developerse anticipated.
In a federal indictment unsealed Wednesday, prosecutorws say Michael R. “Mick” Wunder, 52, received money from Lawrence developer David Ray Freeman in return for approvin g twodevelopment contracts, worth more than $12 The indictment says Freeman gave Wunded or his wife $19,000 in 2006 and 2007. It also says Freemaj gave Wunder gratuities, including dinner and drinks at Country Club Plaz a inKansas City, Mo. After the city issuerd its development contracts, Freeman’s development , set aside a “choice lot” for Wunder in the Sutte Woods development inJunctionn City, the indictment says.
Wunder has been chargeds with one count of conspiracy to commit bank fraud, one count of structuring financial transactions to evadwe the Bank Secrecy Act, five counts of unlawfullg using his position to obtain money and three counts of bank fraud and one countr of perjury. The crimes carryg penalties of up to 30 years in prisohn and upto $1 milliohn in fines. Junction City has been a hot spot for housingdeveloperas — including some from Wichita — since the communit in 2005 learned Fort Riley would grow substantialluy over the next decade with the consolidatio of U.S. military bases. The city was expectexd to doublein size.
The growth, has been slower than many developerse anticipated.
Friday, July 1, 2011
One In Four Americans Don't Know Where We Declared Independence From - Gothamist
roehampton-crested.blogspot.com
National Geographic | One In Four Americans Don't Know Where We Declared Independence From Gothamist On Monday America celebrates Independence Day with fireworks and barbecues and beer, but according to a new Marist Poll one in four American's don't even know what country America declared its independence from. And only 58 percent of residents know ... This Astounding Enterprise History of the Declaration of Independence Life, Liberty, and the Pursuit of Happiness |
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