Manufacturing Outlook Improves Somewhat - Seeking Alpha

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Manufacturing Outlook Improves Somewhat Seeking Alpha Manufacturing Outlook Improves Somewhat. Mar 1 2013, 15:23 by: Calafia Beach Pundit | includes: IYJ, VAW. The February ISM manufacturing indices were generally stronger than expected and consistent with a decent pickup in economic growth in the ... and more »

Hard Rock developer withdraws casino bid at Kansas Speedway - Kansas City Business Journal:

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, a joint venture between and , said in a releases Friday that when the state reopens bidding, it intends to reapply to build the $400 milliomn Hard Rock-branded casino. The developer requested a refund ofthe $25 millionb privilege fee it paid last year, and the Kansas Lottert is processing the refund, the state said in a In a letter to Ed Van Petten, executivw director of the Kansas Lottery, Kansaas Entertainment executive Joseph Weinberg wrote that changinfg economic conditions require “the flexibility potentially to phasde in” the nongaming retail and hotel amenities in case the financial markets don’t recover soon.
“We recognizre that the potential phasing we now require is not permittedf within ourexisting agreement,” he wrote. “Wwe remain fully committed to the opportunitg to bringa first-class casino development to the stat e and Wyandotte County, alonvg with seeking the realignment of a second NASCAR Sprin Cup race and the constructiob of a road course at the Kansas Speedway.” Van Pettenh said in the release that the casino developer’ s withdrawal “is another unfortunate result of the worldwide crisis that has plaguecd the financial markets and hit the gaming industrgy especially hard.
” “We are confident that we can and will find a manage to develop a destination casino in Wyandotte County,” Van Pettenn said. The will discuss reopening bids in the Southh Central and Northeast zones when itmeets Dec. 11. In an interview Friday, Van Petten said the lotter y will recommend that the commission adopt essentially the same proceduresx for the first contractf award and publish the recommended procedures in theKansads Register, the official state paper, on Jan. 1, with a 90-dag application period, making the application deadlineApril 1.
Van Pettehn said the lottery needed to know how much more time the developerss need for the components of the project other than the Weinberg said inan e-mail that the casinop and “significant retail and entertainmen venues” would be completed earlier than orginally planned. “The additional components would be addex as soon as financing markets allowfor them,” Weinberg Weinberg said the project’s scope and cost won’ t change under the new application. Kansas Entertainmentf is the third developer to pull out of deald for casinos in Kansassincse September, Van Petten said.
withdresw its application for a casino in the Southeasttgaming zone, and Sumner Entertainment pulled out of its deal for the South Centra l Zone, he said. Penn National cited competition from a newl y opened casino on the Oklahoma line adjacent to its VanPetten said. Sumner cited economic Kansas Entertainment from theon 19. The overall project is estimated tocost $705.6 millionb and would overlook turn two of the The first phase, which was scheduleed to open sometime in would have about 3,000 slot machinezs and 100 gaming and would operate duringv construction of the overall casino-hotel-entertainment complex.
When completed, the Hard Rock casini is to includea 300-room luxurg hotel, including 50 3,000 slot machines and 140 gaming tables; 275,000 square feet of dining and entertainment space, including a live music venue and a destinatiom spa and fitness center with an indoor/outdoot pool; and 100,000 square feet of meeting and conventionm facilities.

Applied Materials CEO sees chip gear firms dying - Silicon Valley / San Jose Business Journal:

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Reports from comments made to reporters while on a trip to the head of the Santaa Claracompany (NASDAQ:AMAT) said that the companies that suppluy chipmaking equipment are findinf it very difficult to merge or do "That leaves very few avenuea to give consolidation, other than ... companiez failing," the Reuters news service reportsSplinter said. Other problems hindering industryy consolidation are wide differences in the technologuthey use, leaving littlse room for anything other than a shutdowjn of some companies, Splinter reportedluy said.
"The semiconductor equipment industry cannot support the necessart levelof R&D without some amount of consolidation," Reuters quoted Splinter as saying. "Today there is too much too much waste inthe industry." A report on Monday indicatedr that global chip sales posted their seconr consecutive month of up 6.4 percent from March to April, but remain 25 percenr below sales from a year ago.

AG wins judgement against mortgage firm - Boston Business Journal:

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Massachusetts Attorney General Martha Coaklet won the judgement against Zeus Fundin LLC andits manager, Rachel earlier this week in Boston’sd Suffolk Superior Court. In Augusgt 2006, Coakley’s office sued Zeus Funding as wellas Massachusetts-baseed ; Rachel Noyes, manager of both Zeus and New Englandr Merchants; Massachusetts-based ; and Roberta Robinson, the manager and sole officee of Champagne Associates.
The lawsuit alleged that the defendantsz used their businesses to deceptivelypersuade low-income residents to purchasing homes and obtain mortgagews they consumers could not qualify for or Last month, Coakley settled with New England Champagne Associates Real Estate and Roberta Robinson. Undedr the terms of the agreement, the defendants are prohibited from engaginfg in any mortgage brokeragr or real estate servicesin Massachusetts. New England Merchants will paya $5,0000 civil penalty. However, if any one of the defendantse performs any real estatse or mortgage brokerage servicesin Massachusetts, they will face a civiol penalty of $100,000.

Council OKs accepting $33.5M in stimulus funds - Business First of Columbus:

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Council passed an ordinance accepting $33.45 million in stimulus funding, $25 million of whicj is headed to a project to wideb and improve Parsons and Livingston avenuese near the campusof . Council also accepted $5.5 millionn for a number of upgradesin downtown’s River South district. Those projects were amongt 149 that state officials selected in March to received a pieceof $774 million in headesd to transportation projects around the state. Of about $60 million went to 11 projectds inCentral Ohio. The third piece of funding council acceptesd Monday nightis $3 million headedr to reconstruction and resurfacing projectws on eight city streets.
Council spokesma n John Ivanic said the projects areon high-traffix streets that are smaller than stats or federal routes but busier than residential roads and in need of Streets identified in the latest round of stimuluz funding: Hudson Street (from East to Indianola Indianola Avenue (from Morse Road to Lincoln Avenue), Milleer Avenue (from Cole to Livingston avenues), Mooberry Street (from 18th Streetf to Fairwood Avenue), Mt. Vernon Avenue (from Champiobn to Taylor avenues), Taylodr Avenue (from Mt. Vernon to Leonardc avenues), Tussing Road (from Brice Road to Highlanf Park Drive), Woodcrest Road (from Noe-Bixbu Road to Livingston Avenue).
Ivanic said the city mightg add a resurfacing project on Front from Sycamore Street to just south of Liberty if bids come inbelow

Port of Baltimore seeks bidders for Seagirt terminal - Baltimore Business Journal:

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The agency released a request for qualificationsz frompotential bidders, who would be required to investr in a new 50-footr berth and new cranexs at the 200-acre terminal. “As ships get larger, it is criticalp that the Port of Baltimore havea 50-foot berth by 2014 when the completede expansion of the Panama Canal will bring more carg and larger vessels from Asia to the U.S. East MPA Executive Director James J. White said in a statement.
“We feel strongly that, at this time, havintg a private partner contribute significant capital investment is the best option for us to go The operator would get the portfolik of business under contractat Seagirt, the MPA’s main containerf terminal. It would be required to guarantee a minimumm amount ofcargo levels. The contract is expected to be for 30 Proposals are duenext month. The MPA expectz to make a recommendation on a bidder by the end of the The and state Boarsd of Public Works will have to approve the The MPA is workingwith Orlando-basede Public Financial Management to identify potentialk private partners.
The port moved ahead with the lease aftetr conferring with the General Assemblyg during itslegislative session, which ended Monday. Dredging of a 50-foof berth is expected to cost $80 million, Whitew has said. The port receivezs funding for large capital projects from the TransportationbTrust Fund, the same pot that covers maintenance and construction of transit systems and airports. But the fund has been strapperd recently, faced with declining income from gasolin taxes andother transportation-related fees. Baltimor handled about 500,000 containers in 2007. Competing portds that focus more closely on container traffix postedhigher numbers, including 4 million in New 2 million in Ga.
, and 1.5 million in Norfolk, Va. Baltimore’s public which also include Dundalk and North and South Locust Pointmarine terminals, spread cargo totals largely acrossa containers, paper products, breakbulk and roll-on/roll-off cargo.

Tottenham Thoughts: Pertinent Parker and Financial Fair Play Fear Mongers - Bleacher Report

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Bleacher Report

Tottenham Thoughts: Pertinent Parker and Financial Fair Play Fear Mongers Bleacher Report There must be a rule at White Hart Lane where Scott Parker and Sandro are not allowed to be fit at the same time. Parker's arrival back into the Tottenham fold became vitally important Wednesday when Sandro's crocked knee from QPR went under the knife, ...

Obama questions fears about gun seizures - San Antonio Express

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Obama questions fears about gun seizures San Antonio Express WASHINGTON â€" One month after the school massacre in Newtown, Conn., President Barack Obama on Monday attributed the recent surge of weapons sales to efforts by gun control foes to arouse fears that the federal government would seize firearms. and more »

Local former Chrysler, GM dealers look to sell used cars - Kansas City Business Journal:

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Tony Wilkerson, executive director of the , said his organizationj has begun to lend assistancde to dealers lost in thebankruptcy shuffle. “Our national organization has alreadt sent letters to them to let them know aboutf our organization and I plan to do the same thiny forour state,” Wilkerson said. “Theuy were in the used car businessanywayy – but if you’re stucl like many of them are, the overheafd costs for a used car dealershi is nothing compared to a franchise.” However, the expansionh of the local used car marketf comes as prices are increasing and the availability of late-modek used cars is pinched, he said.
But according to Morganj Murphy, president of motorpool.com, the initialp increase in prices should be looked at as merelya short-ternm hurdle. “At first glance, that wouldf strike the community as bad but in thelong run, it’w good for resale values,” Murphy said. When locap consumers buy cars, they will be able to demand more when they choose tosell it, he In fact, the higher resale values mighty actually revive American car dealers in the area. “American manufacturingt has been similar and just as good as Japaneses andKorean manufacturing, but the problenm has been re-sale value and initiao prices,” Murphy said.
In the Birmingham dealers affected can capitalize on the uniqu landscape of the local market on the used car he said. Many are family-owne and have been staples in the communitgy formany decades. They are also encouraged by the fact that localp used car sales have seen an uptickm amid the recession as buyerxs are more inclined to look for a bargain as a meane tospend less. “Birmingham has a long and distinguished historgy ofreputable dealers,” Murphy said. “Don Drennen has been in businesssinced 1908. That’s 101 years of serving our so there’s a culture arounfd businesseslike that.
” Theier long-standing history could make local buyers more inclined to buy used cars from he said. Ward Drennen, president of Don Drennen Buickl Chryslerand Jeep, said after learnintg that his dealer agreement had been canceled with expanding his used car sales seemed like a real “We are going to expan our used car departments drastically,” said Drennen, who was left with more than $2 milliojn in Chrysler parts and merchandise.
“We want to offeer a great value to peoplsewho can’t afford a new Although he hasn’t stopped looking into becoming a franchised for other automotive manufacturers, he is open to the idea of makinvg the switch to stay in business. “It is possible that we could become a usedcar superstore,” said who also learned that GM will seek to cancel the dealershipo agreement he has for his Buicj dealership.
“We’ve been in Birmingham long enough that our reputation can keepus

Eddie Bauer declares bankruptcy - Atlanta Business Chronicle:

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Eddie Bauer had struggled with its debt a crisis that worsened asrevenue dropped, part of an overall trenf affecting most retailers during the recession. The companu has lost nearly a half billiohn dollars in the past three Those losses, coupled with the impacf of the recession and debt payments apparently pushesd the company into bankruptcy court — a move that was rumorec for months. Eddie Bauer becames the latest major retailer to succumb to filing in bankruptcu courtthis recession.
The list also includes Linenes ‘n Things and Circuit In many ways, Eddie Bauer’s crisisd is not different from what most retailers are facing during this prolonged anddeep recession, said Greg an Atlanta-based consultant for Conway MacKenzis who works with financially stressed retailers looking to Most retailers — except discount stores like Wal-Mart have seen a fast drop-ofd in retail revenue across the board, Charleston said. Many of the specialtyg retail department stores haveseen double-digiy same-store sales declines, he said.
“When revenue drop s and same-store sales drop, companies with less debt can weathet a downturnmuch longer,” Charleston “It becomes an issue much sooner if you are into liquidithy issues.” As of May 11, Eddied Bauer reported having $289.5 million in outstanding including $187.8 million in term loans and $75 millioh in convertible notes, which company executives have been trying to persuaded debt-holders to convert into shares of the According to a filing with the Securitiez and Exchange Commission, Eddie Baued had total assets of $525.22 millio n in April. The company listed total liabilitiesof $448.9 Eddie Bauer reported net losses of $165.
4 million in fiscal year part of a total of $478.7 million in lossed during the past three fiscal years. In the firsy quarter that endedin April, the compangy reported net losses of 44.5 million. For the firsy quarter of fiscal year which endedApril 4, Eddie Bauer reporte a loss of $44.5 million. That was a greater loss than the firsr quarterof 2008, when the companu reported a $19.3 million loss. Net salez for the first quarter of 2009were $179.8u million, compared with net sales of $213.2 million in the first quarter of 2008. The company said that combinedd comparable storesales — a barometer of success at the store level — fell 11.
3 percent for the first a decline the company blamed on the recession and reducecd retail spending. Sales were down nearly 15 percent inEddie Bauer’s retail stores and sales through its direcy channel were down nearly 11 The outlet stores saw sales declinef by nearly 76 percent. “The first quarter was a difficulgt one, as the sharp downtur in the economy took its toll onour sales. We continueds to focus on cost cutting and cash flow which helped mitigate the impact of lower said CEONeil Fiske, in a statement with the first-quarterd results filed with the SEC.
It’s unclead what impact bankruptcy might have onEddie Bauer’s 370 including 251 retail stores and 119 outlet stores in the United States and Canada. Eddie Bauer has six storeas inmetro Atlanta. (See a copy of the bankruptcy filin .) Eddie Bauer announced in early Aprik that it had amendedits $225 millio n loan agreements with lenders. Eddie Bauer also has been in talkes with its lenders for months toconvert $75 million in convertiblwe notes into equity. The compan y has a July 1 deadline to convert that debt or face big somethingEddie Bauer, which has depleted much of its cash and cash equivalenceas can ill afford to pay.
In May, The Wall Street citing unnamed sources, said Eddire Bauer hired Peter J. Solomon Co. as its investment bankerr to negotiateany sale.

Fred

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percent versus an increase of 1.2 percent in the same periof last year. Total sales in the five-week fiscal mont of March were $175.4 million, down 1 percenf compared to total salesof $177. 7 million in March 2008. The company attributes this to the closing of 74 underperformingh stores and 22 underperforming pharmacies last Excluding stores closedduring 2008, totaol sales from ongoing stores increaseds 4 percent in March versus the same month last Fred’s total sales for the first two monthes of fiscal 2009 were $321.98 million, down 2 percent compared to $326.8 million in the same year-ago period. On a comparable store year-to-date sales increased 1.9 percent compared with 1.
1 percent in the same perioe last year. “Our progress in buildingh both traffic and averages ticket continued during as indicated by comparable stord sales growth at the high end ofour Fred’s CEO Bruce A. Efird said in a “This performance, which also reflected highet pharmacy departmentprescription counts, is gratifyintg considering the tough retail environment we face. Thosed same challenges, however, continue to drive growinf consumer interest indiscount retailers, and Fred's remainzs well positioned to deliver great value to its Memphis-based Fred’s (NASDAQ: FRED) operatesa 666 discount merchandise including 24 franchised stores nationwide.

Orlando Business Journal: Nomination

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Anyone making a significant contribution tothe area'sx health care industry is including companies, organizations and individuals. The award seeks to honorr workers atall levels, from doctors to nurses and physical therapists to employee to benefiyt managers. Administrative Excellence: A person who is changinh the way health care organizationsdo business. Community An individual or team who is expandinb the reach of health care throughoutCentral Florida, especially to thos e most in need. Health Care A person or team who is helpingv define the health care field with pioneering researchy or anew procedure.
Physician: An individual who is a pioneerr in the practiceof Nurse: Someone who has contributeed significantly to the fieled of nursing. Employer: A Central Floridsa company that is doing the most to promoted the healthand well-being of its employees through unique programs and benefits. Lifetime Achievement Award: A persob who is making or has made an indelibld contribution to health care in Central The Orlando Business Journal will publish a special Health Care Heroesa report onOctober 30, 2009. The deadline for nominationsd isAugust 28, 2009. For more information on how to makea nomination, contacg Managing Editor Susan Lundine, 407-241-2892 or slundine@bizjournals.com.
Orlandol Business Journal's 2009 Health Care Heroe Deadline: September 28, 2009

NCCC, Barnes & Noble in retail deal - Business First of Buffalo:

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The New Jersey-based company, a sister compangy to booksellergiant , will undertak management on June 16, NCCC President James Klyczekm said in a release dated June 8. Plan also call for the company to operate the NCCC Culinary Bookstorre and retail shop when the college opens its hospitality and tourism trainingh center inNiagara Falls, he Klyczek was not immediately available Tuesdaty to talk about the change in Terms of the deal were not With Barnes & Noble running the bookstore, students will be able to buy bookds via www.niagaracc.bncollee.
com when they register for Faculty, meanwhile, will be able to plac online orders for The store had been managed by the College Association of NCCC as a non-profir business. NCCC is not the firsft Western New York campus to partner with Barnes NobleCollege Booksellers. Bookstores at , , , and already work with the company tosell college-related apparel and The company has partnershipsz with more than 600 campuses nationwide, accordinfg to its Web site.

NY awarded $253M through housing tax credit program - Dallas Business Journal:

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is one of the companies that will benefit from an infusiohn of federal stimulus money into a tax credit program that subsidizes construction ofaffordable housing. U.S. Housingb and Urban Development Secretary Shaun Donovan announceed todaythat $252.7 million has been awarded to New York through the federaol government’s new $2.25 billion Tax Credit Assistance The money will enable the states to resume funding the construction or renovatiohn of affordable rental housing units. Omni Housingf is among the companiex that rely on the sale of low income housing tax credits to investors to help payconstructio costs.
The demand for tax credits in the state and nationwide has eroded because of thecredif crisis. Before the credit freeze hit, banks and other lenders such as and used the creditsa to reduce their federaltax Now, with bank profits much slimmer, there is less need for the tax “The market is in disarray,” said Duncajn Barrett, chief operating officer at Omni a division of Inc. Constructionh and renovation projects have been jeopardizee as the value of the taxcreditxs plummeted. As many as 1,0000 projects containing nearly 15,000 housing unitse are on hold acrossthe country, according to HUD.
For Omni Housing has receivefd two written offers to purchase tax creditds foran $11 million renovation of 100 garden-stylee public housing apartments in Watervliet. The offers are 70 centxs or 72 cents forevery $1 of tax The low price would create a gap in making the project Omni is seeking $2.4 millionh through the Tax Credit Assistancre Program to fill the gap, Barretr said. “What the TCAP funds are doing is plugging the hole that has been createx by the lack of tax credit investors and the fallinhg prices forthose investors,” Barrett said.
HUD estimates the new program will provide affordable housingto 35,000 households Omni has redeveloped 1,170 affordable housing units in the Albanyh region over the past 10 years, mostlyy for municipal housing authorities. Omni manages some of those unitsz and provides property management supportto others.

Cincinnati CEOs ask Delta to reconsider overseas flight cuts - Business First of Columbus:

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Fifty-nine corporate presidents and CEOs, along with the , the Europeaj American Chamber and otherlocal companies, signed a lettetr expressing concern with Delta’s decision. "Thw majority of the new business attraction in the regiom is internationalbusiness – primarily from Western the letter stated. "This reduction in direcrt air access to Europe will seriouslyu deter our job attraction The CEOsasked that, in lieu of eliminatinfg the service, the airline consider reducing flights to threee or four times per week. Delta, on June 11, its only overseax service to and from the Cincinnati part of a 5 percent reduction in its international flightsx acrossthe board.
It cited reduce demand for overseas travel and higherfuel costs. Atlanta-basee Delta (NYSE: DAL) operates a hub at the Cincinnati/Northern Kentuck y International Airport.

Bay Area CFOs of the year named - San Francisco Business Times:

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More than 400 local businessw leaders attended a dinner and awardz ceremony at the Palace Hotell in San Francisco to honor the winners and The money raised at the eventfsupports , which for 25 yearas has served homeless and at-risk youth in San Francisco through its programs in outreach, housing, medical and social services, education and job “These awards honor the best of the These financial leaders exemplify the professionalism, resilience and mastery of key skills that make a great said Mary Huss, publisher, San Francisco Business and co-presenter of the Bay Area CFO of the Year Said Sherilyn Adams, executive director, Larki n Street Youth Services: “Larkin Street Youthj Services is honored to be the beneficiarh of this event.
The money raisedx by the CFO awards event will be invested as 84 cents of every dollar will directly benefit theover 3,500 youth we serve each year.” Lifetime Achievement Award: Pete r Darbee, PG&E Corp. and Pacific Gas and Electric Co. Public Company with revenues above $500 million: Daniel the (NYSE: CLX). Finalists: Paul Coghlan, Corp. (NASDAQ: LLTC); Mark (NASDAQ: ADBE). Winner, Public Company with revenues upto $500 Martin Kropelnicki, . Finalists: Thomaz Cawley, (NASDAQ: PEET); Randy (NASDAQ: RVBD). Winner, Non-Public Company: Nathan Brostrom, .
Finalist: Thoma s Berquist, Winner, Venture-Backed Company: Jack Jenkins-Stark, Donald McCauley, ; Greg Walker, Winner, Community Service: Paul Tenderloin NeighborhoodDevelopment Corp. Finalists: Steved Bach, ; Michael Braude, . Transformation Agent: Byron Pollitt, Inc. V) Finalists: James (NASDAQ: SYMC); Lewis Chew, Corp (NYSE: NSM). The 2009 Bay Area CFO of the Year Awardz is a partnership betweejn the San Francisco Business Times which included an advertising supplement profiling the winnerse in its May 29issue — and Larki Street Youth Services. All proceeds from this evenft benefit Larkin StreetYoutgh Services.
Deloitte was the title

PUMA AG buys Westford building, likely new HQ - Boston Business Journal:

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Germany-based PUMA considered buildinga brand-new U.S. headquarterds for PUMA North Americsa but ultimately decided to purchasew anexisting building, accordinfg to real estate sources who were familiar with the footwea company's search and asked not to be PUMA's purchase of 10 Lyberty Way from could close as earlhy as next week. Calls to Franklin Street Properties' officess in Wakefield were not returned. A call to PUMA's broker at was not PUMA's spokeswoman Kristina Fields said she could not releass any details about the pending acquisition of 10Lyberty Way. The acquisition pricew was notpublicly available.
The company considere building a headquarters from scratchu and looked at development sites in but ultimately decided against new construction and preferred to buy a propertyt rather thanlease space. "There are very few largd blocks of space left inthe market," said Matthew Daniels, a senioe vice president at Daniels was not involvec in the transaction. "Whehn I say large blocks of spacw I'm talking 80,000 square feet or more," he The building at 10 Lyberty Way will likelyu serveas PUMA's new headquarters, but it was unclear whethe r the company planned to vacate the 80,0009 square feet of space it occupies at 5 and 6 Lyberty Way.
One real estate source said PUMA would vacatew the buildings at 5 and 6Lyberty Way, whichn are reportedly being marketedx for lease now. In addition to the two buildings PUMA currently occupiesin Westford, the company's global marketing and design center is located at the Boston Design Center in Soutb Boston.

Columbia coming to CityPlace - South Florida Business Journal:

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The news comes as the 99-year-old Tamp institution, according to Richard presidentand fourth-generation owner, is withib weeks of kicking off its yearlony 100th anniversary celebration. "Fo years, our family has thought of addingf a Columbia in beautiful WestPalm Beach," he said. is an exciting location, with all of its wonderfulo shops andgreat restaurants." Having the Kraviss Center and the new Palm Beach County Conventionb Center as neighbors was the dealmaker, Gonzmarft said. "Since West Palm Beacn is celebrating its 110th birthday and is so richin Florida'sa history, it was too good of an offedr to pass," he added.
Foundee in 1905, The Columbia Restaurantr of Ybor City is the oldest restauran t in Florida and boasts it is the larges t Spanish restaurant inthe world. In additionm to Tampa's Ybor the other locations are St. Armands Circle in the Historic Districtin St. Augustine, The Pier in St. Sand Key on Clearwater Beach andCentral Florida's town of All the restaurants are ownecd and operated by 4th and 5th generation memberx of the founding family. The West Palm Beach location is to be at 651Okeechobew Blvd. "We look forward to bringing a taste ofour Spanish/Cuban cuisine to the West Palm Beach said Gonzmart's brother Casey, company chairman.