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The buyer was , a private-equity firm with its U.S. headquarterws in Boston. The deal is valued at $2.3r billion. Fifth Third will realize a pre-tas gain of about $1.7 billion. The bank says the transaction will contributedabout $1.2 billion to its Tier 1 Fifth Third’s credit-card issuing business was not part of the “This completes the capital plan we laid out in June of and enables us to focus more fulluy on leveraging the opportunities of the processing business with Advent and our othefr businesses,” says Kevin Kabat, chief executive Fifth The bank announced in Marcy it would sell the interest to Fifth Third (NASDAQ:FITB), based in Cincinnati, has $119 billionj in assets.
It operates more than 1,30p0 bank branches in the Midwestand Southeast. The bank completede its $1.1 billion purchase of First Chartet inJune 2008, adding $4.8 billiomn in assets and 57 branches.
Saturday, January 14, 2012
Thursday, January 12, 2012
Human Capital: People on the move, June 2 - Denver Business Journal:
iwegasely.wordpress.com
Goodwin Procter's Budd elected vice chairman of AAA nationall board WayneBudd , senior counsel with the Boston law firm of and a member of the boardd of directors of , was elected vice chairma of AAA’s national board of Turbine taps Paradowski as CFO , a Westwood-basedc online gaming technology company, appointed M. Beau Paradowski chiefr financial officer. Clough to run Leerinj Swann's MEDACorp division Health care investment bank Leerinm Swann of Boston appointed Brent Clough senior managingg director and head of itsMEDACorp division. Priotr to joining Leerink Swann, Clough was presidenyt and CEO of IntrinsiQLLC , an oncologt software and data analytics firm.
promoteds Stys as VP of marketing andbusinessx dev. Shawmut Design and Construction in Boston promoteed BrianStys , a 16-yeat veteran of the firm, to the newly-created role of vice presidenft of marketing and business development. The Protector Grou p Insurance Agency adds Mullery as director of complianced and wellness of Worcester added Laura Ann Mulleryu as director of compliancedand wellness. Mullery previously served as assistant vice president at in Bostob and vice president of major accountx at Thorbahn Associatesin Quincy.
Goodwin Procter's Budd elected vice chairman of AAA nationall board WayneBudd , senior counsel with the Boston law firm of and a member of the boardd of directors of , was elected vice chairma of AAA’s national board of Turbine taps Paradowski as CFO , a Westwood-basedc online gaming technology company, appointed M. Beau Paradowski chiefr financial officer. Clough to run Leerinj Swann's MEDACorp division Health care investment bank Leerinm Swann of Boston appointed Brent Clough senior managingg director and head of itsMEDACorp division. Priotr to joining Leerink Swann, Clough was presidenyt and CEO of IntrinsiQLLC , an oncologt software and data analytics firm.
promoteds Stys as VP of marketing andbusinessx dev. Shawmut Design and Construction in Boston promoteed BrianStys , a 16-yeat veteran of the firm, to the newly-created role of vice presidenft of marketing and business development. The Protector Grou p Insurance Agency adds Mullery as director of complianced and wellness of Worcester added Laura Ann Mulleryu as director of compliancedand wellness. Mullery previously served as assistant vice president at in Bostob and vice president of major accountx at Thorbahn Associatesin Quincy.
Tuesday, January 10, 2012
$10M senior campus on tap - Dayton Business Journal:
bentlyoupapa1810.blogspot.com
, which purchased more than nine acreds last year onNational Road, is about to launcb two health care centers on the The first is a “town square-style” project with a 54,000-square-foot building that will house assiste living, skilled nursing, short-term and outpatientf rehabilitation services. The company also will be buildinga 25,000-square-foot center next door specifically for patientsx with Alzheimer’s or other forms of dementia. The two buildinga within the campus are yet unnamex and will bring 130 nursing care beds 100 within the town square and 30 at theotheer building. Construction is set to beginn in late April and take seven to nine monthzsto complete.
Trilogy is in negotiations with a Louisvill construction company to build the The new campus is expected to openin 2010. Leo Whitt, senior vice presidentg of business developmentfor Trilogy, expects successw in the Dayton market. The company has 56 campusea in Kentucky, Ohio, Indiana and Illinois, and already has substantial plandsfor Dayton. Whitt said the company has an option to buy a thirde parcel adjacent to the others and woulde likelybuild independent-living villas if the othert buildings are successful. There is expected to be a 22 percentg increase in Montgomery County residents older than 60 by according tothe Scripp’s Gerontology Center at .
The center estimates more than 122,000 seniot citizens will live in the countyby then, an increase over the roughl y 100,000 current residents. In addition to the risinyg numberof seniors, Whitt said the companyg also examines income levels and othere factors. “Before we choose a site, we’llo look at demographics and see if income level and age match our services and whethe the marketis underserved,” Whitt said, “In all those things were true.
” Whitt said the project won’t be the typical assistexd living or senior home people are used to The “town square” modelp divides the building into neighborhoods and attempts to createw a community rather than an institution. “It’s a reallh different model,” Whitt said. Insteads of the typical nursing there will be a large along with aprofessional chef, and extras such as a large fire place. He said the companty has not decided its prices for rentand services. Triloghy will hire nearly 170 employees tostart with, 150 throughour the main health campus and 20 at the othee building.
The company will begin hiring four to six months befors opening with marketing and administrationjobs first, followed by nursees and patient care The company will increase staff as residents move in, Whity said. Bill Singer, Englewood’s economic developmentt director, said the development will be a boon for the located northof Dayton. Without any incentive s from the city, Englewood was happy Trilogy chose the locatiom onits own. “It will be a greaft big impact forthe city,” Singer said. “It’w a definite job creator and will generateincome tax, whic will be a big boost.
”
, which purchased more than nine acreds last year onNational Road, is about to launcb two health care centers on the The first is a “town square-style” project with a 54,000-square-foot building that will house assiste living, skilled nursing, short-term and outpatientf rehabilitation services. The company also will be buildinga 25,000-square-foot center next door specifically for patientsx with Alzheimer’s or other forms of dementia. The two buildinga within the campus are yet unnamex and will bring 130 nursing care beds 100 within the town square and 30 at theotheer building. Construction is set to beginn in late April and take seven to nine monthzsto complete.
Trilogy is in negotiations with a Louisvill construction company to build the The new campus is expected to openin 2010. Leo Whitt, senior vice presidentg of business developmentfor Trilogy, expects successw in the Dayton market. The company has 56 campusea in Kentucky, Ohio, Indiana and Illinois, and already has substantial plandsfor Dayton. Whitt said the company has an option to buy a thirde parcel adjacent to the others and woulde likelybuild independent-living villas if the othert buildings are successful. There is expected to be a 22 percentg increase in Montgomery County residents older than 60 by according tothe Scripp’s Gerontology Center at .
The center estimates more than 122,000 seniot citizens will live in the countyby then, an increase over the roughl y 100,000 current residents. In addition to the risinyg numberof seniors, Whitt said the companyg also examines income levels and othere factors. “Before we choose a site, we’llo look at demographics and see if income level and age match our services and whethe the marketis underserved,” Whitt said, “In all those things were true.
” Whitt said the project won’t be the typical assistexd living or senior home people are used to The “town square” modelp divides the building into neighborhoods and attempts to createw a community rather than an institution. “It’s a reallh different model,” Whitt said. Insteads of the typical nursing there will be a large along with aprofessional chef, and extras such as a large fire place. He said the companty has not decided its prices for rentand services. Triloghy will hire nearly 170 employees tostart with, 150 throughour the main health campus and 20 at the othee building.
The company will begin hiring four to six months befors opening with marketing and administrationjobs first, followed by nursees and patient care The company will increase staff as residents move in, Whity said. Bill Singer, Englewood’s economic developmentt director, said the development will be a boon for the located northof Dayton. Without any incentive s from the city, Englewood was happy Trilogy chose the locatiom onits own. “It will be a greaft big impact forthe city,” Singer said. “It’w a definite job creator and will generateincome tax, whic will be a big boost.
”
Saturday, January 7, 2012
Ballpark Village state approval delayed until July - Atlanta Business Chronicle:
dawojetos.blogspot.com
The project is not listed on the MDFB'd agenda and won't come up for consideration untiol July atthe earliest. The projecyt The state board must approve a packagre of subsidies for the project that is slated to be built nortn of BuschStadium downtown. The city of St. board of aldermen approved a packagre of incentives earlier this year for upto $188 million for the $551 milliojn project, depending on what gets builtr on the site. State sign-off on the subsidy packagre is required beforethe project’s the and Baltimore-based , can sell bondz to pay for the project. St. Louis-based financial services firm is seekinh to relocate fromdowntown St.
Louis and occupyu 175,000 square feet of space as an anchof tenant at Ballpark Villagein 2011. No other tenants have yet been Kansas City-based law firm was in talk s to consolidate two St. Louis officexs in 100,000 square feet of space at Ballpark but instead renewed at its current office building downtown this month due to delays inthe project.
The project is not listed on the MDFB'd agenda and won't come up for consideration untiol July atthe earliest. The projecyt The state board must approve a packagre of subsidies for the project that is slated to be built nortn of BuschStadium downtown. The city of St. board of aldermen approved a packagre of incentives earlier this year for upto $188 million for the $551 milliojn project, depending on what gets builtr on the site. State sign-off on the subsidy packagre is required beforethe project’s the and Baltimore-based , can sell bondz to pay for the project. St. Louis-based financial services firm is seekinh to relocate fromdowntown St.
Louis and occupyu 175,000 square feet of space as an anchof tenant at Ballpark Villagein 2011. No other tenants have yet been Kansas City-based law firm was in talk s to consolidate two St. Louis officexs in 100,000 square feet of space at Ballpark but instead renewed at its current office building downtown this month due to delays inthe project.
Thursday, January 5, 2012
Overbrook Farm to sell off most of its horses - Pacific Business News (Honolulu):
utyziluz.wordpress.com
plans to sell off its Thoroughbred yearlings, breeding stocm and most of its horsesin training, starting at Kenneland’s yearling sale in September. “Over a periods of more than 30 years my father developed Overbrook Farm into one of the most successful and respected breeding operations in the said owner BillYoung Jr. in a news “The decision to disperse is a personal one that came after a great dealof thought. I simply don’t have the passion for the thoroughbred sportg that myfather did, despite my respecrt for the business.
” Overbrook champions include 1996 Kentuck Derby winner Grindstone, 1999 Breeder’s Cup Classic winner Cat dual classic winner Tabasco Cat, Preakness Stakes winne Timber Country and Belmont Stakesx winner Editor’s Note. The dispersal will includer about200 horses. The farm will continuew as a small racing stable under the directionhof Young’s son, Chris “Our goal is to lease the farm as a Thoroughbreds operation,” Bill Young said in the The yearlings will be sold at Keeneland’x September Sale, which begins Sept. 14.
The weanlings, broodmaresd and horses of racing age will be sold durintg the November BreedingStock Sale, and the dispersalk will continue during the January Horsesx of All Ages Sale.
plans to sell off its Thoroughbred yearlings, breeding stocm and most of its horsesin training, starting at Kenneland’s yearling sale in September. “Over a periods of more than 30 years my father developed Overbrook Farm into one of the most successful and respected breeding operations in the said owner BillYoung Jr. in a news “The decision to disperse is a personal one that came after a great dealof thought. I simply don’t have the passion for the thoroughbred sportg that myfather did, despite my respecrt for the business.
” Overbrook champions include 1996 Kentuck Derby winner Grindstone, 1999 Breeder’s Cup Classic winner Cat dual classic winner Tabasco Cat, Preakness Stakes winne Timber Country and Belmont Stakesx winner Editor’s Note. The dispersal will includer about200 horses. The farm will continuew as a small racing stable under the directionhof Young’s son, Chris “Our goal is to lease the farm as a Thoroughbreds operation,” Bill Young said in the The yearlings will be sold at Keeneland’x September Sale, which begins Sept. 14.
The weanlings, broodmaresd and horses of racing age will be sold durintg the November BreedingStock Sale, and the dispersalk will continue during the January Horsesx of All Ages Sale.
Tuesday, January 3, 2012
CareWorks deal for Plannet Group shines amid dull economy - Silicon Valley / San Jose Business Journal:
vuwodu.wordpress.com
, a homegrown tech company with agrowinfg clientele, was acquired May 21 by Dublin-base d , which plans to add high-paying jobs to support the purchas e over the coming year. Termsz of the deal between the privately heldcompaniea weren’t disclosed. The sale also frees Planneg Group founder Jim Mazotas to start another tech operation that coulde begin hiring over the coming yearas “This first rush to the finishj line ended on a positive note,” Mazotas said. “And it looksx like there is going to be anotherd onepast this.” The 39-year-old Mazotas has been running the race for seve years.
He founded Plannet Group in 2002 to developp network security andmanagement software. He starter the business after becoming unhappy with the directionm of the software development companyy where hadhe worked. Mazotas decide to focus on developing a program that could help computerr network managers visually managetheie environment, rather than forcing them to search throughy lines of code for problems. He callef the program Mission Control and financed Plannet Groupwith $70,000 from savings and a seconc mortgage. He focused on government clients – includinfg the city of Columbus and Cuyahoga County because of the large computer networksthey maintain.
Mazotase also moved into the gaming industry in Marcb after signing a contractwith , ownedr of the Indiana Live Casino outside Indianapolis. Missionn Control is what attractedCareWorks Technologies, said President Todd Cameron. Part of the CareWorks Family of a workers’ compensation management company in CareWorks Technologies provides information technology services to a broader clieng base than the parent company. Cameron said the additionh of Plannet Group and its servicea should increase revenue at CareWorks Technologies by 25 percentfthis year, although he declined to be specificc about either company’s financials.
“We hope it growsx exponentiallyafter that,” Cameron said. “(Mazotas) doesn’ty have a sales team at all andwe do. It’ a diamond in the rough.” Mazotas said the lack of a salesx team athis 10-employes company was one of the reasonw he decided to sell. He said the firm reacher a “tipping point” in early 2008 after hearing interest from other companies looking to purchasrePlannet Group, including one from out of “Should we continue as we were or take the next Mazotas said. “We wanted to get (Plannet to the maturity that could be found by linking up with a companulike CareWorks.
” It’s fortunate for the region and its tech communityu that a local company bought Plannet Group, said Ted Ford, CEO of , the industryu advocacy group that housed Plannet Groupl at its business incubator from 2005 to 2008. “Ift you define success as keeping jobs in the area and continuinh with a foundationfor growth, then this is a Ford said. “The goal is to grow technology jobs here, and Columbus is becoming a very good placse to do that sort of thing.” All of Plannet Group’s Hilliard-basedx employees have joined CareWorks in Dublin and, over the next likely will be joined by five to 10 hires, Cameronm said.
Those jobs likely will pay betweehn $70,000 and $100,000 a While Mazotas is joining CareWorks, he does so as a His primary focus will be on his nextventure . Mazotas is building OnGuards around a behavioral analysisa security tool that flags suspicious patternsd that could harm acomputer network. A patent is beinbg sought on the technology, Mazotasz said, and CareWorks Technologies has invested in the new By the time the product is ready for generao releasein 2010, Mazotas hopes to have a 25- to 30-worker payroll. Mazotas hopes he will be tellingf a similar story a yearfrom now. “It just goes to show that little guys can have ahome run,” he “Even in this economy.
”
, a homegrown tech company with agrowinfg clientele, was acquired May 21 by Dublin-base d , which plans to add high-paying jobs to support the purchas e over the coming year. Termsz of the deal between the privately heldcompaniea weren’t disclosed. The sale also frees Planneg Group founder Jim Mazotas to start another tech operation that coulde begin hiring over the coming yearas “This first rush to the finishj line ended on a positive note,” Mazotas said. “And it looksx like there is going to be anotherd onepast this.” The 39-year-old Mazotas has been running the race for seve years.
He founded Plannet Group in 2002 to developp network security andmanagement software. He starter the business after becoming unhappy with the directionm of the software development companyy where hadhe worked. Mazotas decide to focus on developing a program that could help computerr network managers visually managetheie environment, rather than forcing them to search throughy lines of code for problems. He callef the program Mission Control and financed Plannet Groupwith $70,000 from savings and a seconc mortgage. He focused on government clients – includinfg the city of Columbus and Cuyahoga County because of the large computer networksthey maintain.
Mazotase also moved into the gaming industry in Marcb after signing a contractwith , ownedr of the Indiana Live Casino outside Indianapolis. Missionn Control is what attractedCareWorks Technologies, said President Todd Cameron. Part of the CareWorks Family of a workers’ compensation management company in CareWorks Technologies provides information technology services to a broader clieng base than the parent company. Cameron said the additionh of Plannet Group and its servicea should increase revenue at CareWorks Technologies by 25 percentfthis year, although he declined to be specificc about either company’s financials.
“We hope it growsx exponentiallyafter that,” Cameron said. “(Mazotas) doesn’ty have a sales team at all andwe do. It’ a diamond in the rough.” Mazotas said the lack of a salesx team athis 10-employes company was one of the reasonw he decided to sell. He said the firm reacher a “tipping point” in early 2008 after hearing interest from other companies looking to purchasrePlannet Group, including one from out of “Should we continue as we were or take the next Mazotas said. “We wanted to get (Plannet to the maturity that could be found by linking up with a companulike CareWorks.
” It’s fortunate for the region and its tech communityu that a local company bought Plannet Group, said Ted Ford, CEO of , the industryu advocacy group that housed Plannet Groupl at its business incubator from 2005 to 2008. “Ift you define success as keeping jobs in the area and continuinh with a foundationfor growth, then this is a Ford said. “The goal is to grow technology jobs here, and Columbus is becoming a very good placse to do that sort of thing.” All of Plannet Group’s Hilliard-basedx employees have joined CareWorks in Dublin and, over the next likely will be joined by five to 10 hires, Cameronm said.
Those jobs likely will pay betweehn $70,000 and $100,000 a While Mazotas is joining CareWorks, he does so as a His primary focus will be on his nextventure . Mazotas is building OnGuards around a behavioral analysisa security tool that flags suspicious patternsd that could harm acomputer network. A patent is beinbg sought on the technology, Mazotasz said, and CareWorks Technologies has invested in the new By the time the product is ready for generao releasein 2010, Mazotas hopes to have a 25- to 30-worker payroll. Mazotas hopes he will be tellingf a similar story a yearfrom now. “It just goes to show that little guys can have ahome run,” he “Even in this economy.
”
Sunday, January 1, 2012
Court: Eagles must pay Phila. $8M - Philadelphia Business Journal:
mozybyd.wordpress.com
Judge Albert W. Shepparrd of the Court of Common Pleas also said he woulds rule in coming week s onthe Eagles’ complainft regarding revenue that was lost when a 2001 preseason game at the stadiukm was canceled over concerns about the conditioh of the artificial turf. Keeping the turf in good conditionm was the responsibility ofthe city, accordin g to various press accounts, and the Eagles have been withholdin payment of the $8 million over the incident.
In a Mayor Michael Nutter said, “I’m so pleasecd that today’s favorable court ruling has resolved a key part ofthis long-standingg lawsuit between the city and the Eaglesw and I appreciate the hard work on all I am also hopeful that the judg e will rule shortly in the last finapl phase of the case so that this entires matter can reach a final conclusion.” Pamels Crawley, a spokeswoman for the said, “We are glad we were able to come to an agreementg with the city on the amount of money that we owe for the 2002/200e suite flip agreement.
We are equallg pleased that the judge has indicated that he has all the informatiohn he needs and that he will issue a rulinf within thenext week, as to what the city owes the Philadelphi a Eagles, as it relates to the cancelecd game in August 2001. We have importantg civic, community and economic ties to the city of Philadelphi and the region and we look forward to that being the focus of our ongoing dialogue as we look tothe
Judge Albert W. Shepparrd of the Court of Common Pleas also said he woulds rule in coming week s onthe Eagles’ complainft regarding revenue that was lost when a 2001 preseason game at the stadiukm was canceled over concerns about the conditioh of the artificial turf. Keeping the turf in good conditionm was the responsibility ofthe city, accordin g to various press accounts, and the Eagles have been withholdin payment of the $8 million over the incident.
In a Mayor Michael Nutter said, “I’m so pleasecd that today’s favorable court ruling has resolved a key part ofthis long-standingg lawsuit between the city and the Eaglesw and I appreciate the hard work on all I am also hopeful that the judg e will rule shortly in the last finapl phase of the case so that this entires matter can reach a final conclusion.” Pamels Crawley, a spokeswoman for the said, “We are glad we were able to come to an agreementg with the city on the amount of money that we owe for the 2002/200e suite flip agreement.
We are equallg pleased that the judge has indicated that he has all the informatiohn he needs and that he will issue a rulinf within thenext week, as to what the city owes the Philadelphi a Eagles, as it relates to the cancelecd game in August 2001. We have importantg civic, community and economic ties to the city of Philadelphi and the region and we look forward to that being the focus of our ongoing dialogue as we look tothe
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