Monday, June 30, 2008
GE Lighting Systems Unveils LED Street Lights
Making the Sunshine State a Little Brighter:
GE Lighting Systems Unveils LED StreetDreamsT at 2008 Annual Conference of Mayors
76th Annual Conference of Mayors
HENDERSONVILLE, N.C.-- June 30, 2008 --GE Lighting Systems, Inc., part of GE Consumer & Industrial, recently showcased its new LED StreetDreamsT post-top fixtures at the 76th Annual Conference of Mayors in Miami, Florida. From June 20-24, more than 250 mayors from cities all over the United States descended upon Miami, and GE offered them a sneak peek at one of its latest energy-efficient lighting solutions.
GE provided six of its LED StreetDreamsT luminaires for the event. The new lighting system was installed in the median along Pan American Drive leading up to Miami City Hall.
Municipal leaders are known to be major influencers in the specification and purchase of energy-efficient metropolitan lighting solutions. As downtown revitalization planning has become increasingly sensitive to environmental impacts, LED StreetDreamsT is expected to resonate well with mayors and other municipal authorities because of its energy-efficient LED technology and chic post-top design.
LED StreetDreamsT post-top fixtures will be introduced to the broader market in 2009.
StreetDreamsT is a trademark of the General Electric Company.
About GE Consumer & Industrial
GE Consumer & Industrial spans the globe as an industry leader in major appliance, lighting and integrated industrial equipment, systems and services. Providing solutions for commercial, industrial and residential use in more than 100 countries, GE Consumer & Industrial uses innovative technologies and "ecomagination," a GE initiative to aggressively bring to market new technologies that help customers and consumers meet pressing environmental challenges, to deliver comfort, convenience and electrical protection and control. General Electric (NYSE: GE) brings imagination to work, selling products under the Monogram®, ProfileT GE®, Hotpoint®, SmartWaterT Reveal® and Energy Smart® consumer brands, and Entellisys® industrial brand. For more information, consumers may visit www.ge.com.
Contacts
General Electric
David Schuellerman, 216-266-9702
david.schuellerman@ge.com
Friday, June 6, 2008
Plans to Bring Destination Retail to Canterbury Park Announced
Canterbury Park and Red Development Announce Plans to Bring Destination Retail to Canterbury Park
The proposed development would enhance the entire Canterbury experience
SHAKOPEE, Minn.-- June 05, 2008 --Canterbury Park Holding Corporation (AMEX:ECP) today announced that it has entered into a letter of intent with RED Development, LLC, a Kansas City based retail developer, to be its exclusive partner in a proposed retail and entertainment development on part of the Company's property in Shakopee, Minnesota. The goal of the proposed development is to build upon Canterbury Park's position as one of Minnesota's best known entertainment venues to create a dynamic, multi-faceted retail and entertainment destination in one of the fastest growing areas of the country.
Under the terms of the agreement, the Company and RED will jointly determine the feasibility of a master-planned retail, entertainment and mixed-use development. The proposed development will be integrated into the existing Racetrack and Card Club property to expand dining, shopping and retail opportunities to visitors of the park, as well as provide entertainment options to visitors of the new destination development. It is expected that the proposed development will be conducted in phases and will be located on land that is currently unused or underutilized.
Before construction of the project can begin, a number of conditions must be satisfied, including development of a mutually agreeable master plan, signing of definitive agreements between Canterbury Park and RED related to the proposed development, input from and approval by the City of Shakopee and Scott County, approval by the Minnesota Racing Commission, and arranging financing for the project.
RED Development has successfully developed other similar projects in the area. In 2003, they opened The Shoppes at Arbor Lakes, a 400,000 square foot lifestyle center in Maple Grove, MN. Not far away, on the east side of St. Paul, the 398,000 square foot Woodbury Lakes was opened in 2005. Both of these projects were done in partnership with Opus Development. Also among RED's more than 30 projects is The Legends at Village West located in Kansas City, Kansas. The Legends combines almost 1.5 million square feet of retail and entertainment and has attracted a great deal of national acclaim.
"We could not be more thrilled about this partnership," said Randy Sampson, President and CEO of Canterbury Park, "RED's experience in creating dynamic destination developments like the Legends project in Kansas City make them a perfect partner for us."
Steve Graham, Vice President of Destination Development for RED also commented: "We look forward to working with Canterbury Park, as well as the City of Shakopee and Scott County, to design a project that will be a first class asset to the City of Shakopee and a magnet for visitors to the region." Mr. Graham added, "Canterbury Park is such a quality facility, we believe it will provide an excellent spring board for retail, entertainment and other features that will increase the importance of Canterbury Park to the Shakopee community and the surrounding area."
About Canterbury Park:
One of Minnesota's largest and well-known entertainment venues, Canterbury Park hosts pari-mutuel wagering and card games at its facility in Shakopee, Minnesota. Pari-mutuel wagering is offered on live thoroughbred and quarter horse races each summer, and simulcast wagering on races held at out-of-state racetracks is available year-round. Canterbury Park's Card Club hosts a variety of poker and casino style card games 24 hours a day. Canterbury Park also derives revenues from related services and activities, such as concessions, parking, admissions, programs, and from other entertainment events held at the facility. To learn more about Canterbury Park, visit our website at www.canterburypark.com
About RED Development, LLC:
RED Development, LLC, formed in 1995, develops, leases, manages and owns shopping centers in rapidly growing communities throughout the country. The company primarily focuses on open-air, regional shopping centers, known as lifestyle centers. Additionally, the company has experience in the development of power and community centers. RED Asset Management was formed in early 2004 to provide property management services for RED's growing portfolio. RED has more than 30 centers open, in development, or under construction, totaling more than 16 million square feet. Within the industry, RED has earned a reputation for delivering as promised and creating strong relationships with its tenants, communities and business partners. RED has more than 200 employees and is co-headquartered in Scottsdale, Ariz., and Kansas City, Mo. To learn more about how RED is "REDefining" retail development, visit www.reddevelopment.com.
Cautionary Statement:
From time to time, in press releases, SEC filings and in other communications to shareholders or the investing public, the Company may make forward-looking statements concerning possible or anticipated future financial performance, business activities or plans which are typically preceded by the words "believes," "expects," "anticipates," "intends" or similar expressions. Shareholders and the investing public should understand that such forward-looking information and statements are subject to risks and uncertainties which could cause actual performance, activities or plans to differ significantly from those presented in the forward-looking statements. Such risks and uncertainties include, but are not limited to: material changes in the level of wagering by patrons, competition from other gaming venues, legislative and regulatory changes, failure to obtain regulatory approvals and/or financing needed for new initiatives and other factors discussed in the Company's SEC filings. For such forward-looking information and statements, the Company claims the protection of the safe harbor for forward-looking statements contained in federal securities laws.
Contacts
Canterbury Park Holding Corporation
Randy Sampson, 952-496-6429
rsampson@canterburypark.com
or
RED Development
Dave Claflin, 816-876-2547
Vice President Marketing
dclaflin@reddevelopment.com
or
Steve Graham, 816-777-2851
Vice President Destination Development
sgraham@reddevelopment.com
Monday, June 2, 2008
New Product Features Include Federal Analysis and Commentary; Pending Legislation
AllRegs Releases New Product Features: Federal Analysis and Commentary; Pending Legislation
EAGAN, Minn.-- June 02, 2008 --AllRegs, the leading publisher of guidelines for the mortgage industry, announces the release of online product enhancements allowing subscribers to access analysis and commentary on federal legislation or view pending state or federal legislation.
In addition to searching the comprehensive online database consisting of thousands of pages of government and conventional single family lending guidelines and forms, subscribers of the flagship Single-Family Lending Package can now access the following:
* Plain-language analyses and interpretive summaries for major federal legislation dealing with the residential mortgage lending industry, with links directly to supporting statutes and regulations
* Continuous updates with e-mail notification
* Federal disclosures and other forms
This Federal Analysis and Commentary covers the following major federal legislation:
* Alternative Mortgage Parity Transaction Act
* Depository Institutions Deregulations and Monetary Control Act
* Equal Credit Opportunity
* Fair Housing Act
* Fair Credit Reporting Act
* Fair Debt Collection Practices Act
* Garn-St. Germaine
* Home Mortgage Disclosure Act
* Home Ownership Protection Act
* National Flood Insurance Act
* Real Estate Settlement Procedures Act
* Truth In Lending Act
A new feature within the State Compliance Package, Pending Legislation features all pending state and federal bills, from pre-file to enacted status. The notification feature of Pending Legislation can be considered an early warning system for future changes in processes and procedures. By keeping up with the progress of the legislation, users can revise processes in advance to accommodate the new law and regulation.
Bills are categorized and searchable by subjects, such as licensing, fraud, fees and more. Users will learn all of the details regarding the pending bill, including the bill number, category, title, date, status and summary. The status information will change as the bill changes, but the bill summary will remain the same. From each matrix, users can link out to the State Legislature's web site and view the bill's full text.
Should you have any questions regarding this product enhancement or if you'd like to see a demo, please contact AllRegs Customer Service at (800) 848-4904 Monday through Friday between the hours of 8:00 a.m. CT and 6:00 p.m. CT. or email help@allregs.com.
About AllRegs:
First introduced in 1989, AllRegs is used by virtually all of the top 100 lenders as well as throughout numerous governmental agencies, including Fannie Mae, Freddie Mac, the FHLBs, FHA, VA, RHS, Ginnie Mae, and more. AllRegs is the exclusive electronic publisher of the Fannie Mae and Freddie Mac Single and Multi-Family Seller/Servicer Guides, The Federal Home Loan Banks' MPF Program Guidelines, and CalPERS' Member Home Loan Program Guidelines. Products include single and multifamily underwriting & insuring guidelines as well as federal compliance laws and regulations, state compliance laws and regulations with plain-language analyses, contract publishing services for retail and wholesale lenders and a library of historical guidelines. The educational division, AllRegs Academy, offers distance learning, classroom training, and a series of online Practical Guides. For more information call (800) 848-4904 or go to www.allregs.com.
Contacts
For AllRegs
Meredith Boyd, 678-781-7219
Different Solution to Real Estate Mortgage Crisis Needed
The five-year freeze on mortgage interest rates recently announced by the federal government may be intended to help responsible homeowners avoid foreclosure, but a noted economist with the Real Estate Center at Texas A&M University says there may be a better solution to the mortgage crisis.
College Station, Tex. - December 19 -- The five-year freeze on mortgage interest rates recently announced by the federal government may be intended to help responsible homeowners avoid foreclosure, but a noted economist with the Real Estate Center at Texas A&M University says there may be a better solution to the mortgage crisis.
"The federal government has to be very careful in addressing this problem," said Dr. Mark Dotzour, the Center's chief economist. "Aggressive government intervention in the mortgage market will only create additional uncertainty for bond investors. Freezing interest rates is a bad idea. When you tell an investor that the contract they hold is no longer valid, it constitutes actual taking of private property."
Dotzour added that if the government intervenes and rewrites the terms of existing mortgage contracts, bond investors will become leery of buying mortgage bonds in the future and will demand higher interest rates for the higher perceived risk.
Research Economist Dr. James Gaines, also with the Center, agrees, calling the basic premise of the plan shaky and the details sketchy.
"For the most part, the homeowners and borrowers likely to benefit from the interest rate freeze are the very same people who would have the best chance of renegotiating their loans with the lender in the first place a borrower with a relatively sound credit rating and a history of making payments who simply needs a little help to keep from going into full default," Gaines said.
So how can the federal government speed the recovery process in the U.S. housing markets?
The first thing the government should do, Dotzour said, is cut short-term interest rates to 2 or 3 percent. At the same time, they could aggressively purchase mortgage bonds and long treasuries to drive down the ten-year yield, which Dotzour said has already dropped below 4 percent in the past six months.
After that, the government needs to address the increased risk premium in the mortgage market by establishing conservative mortgage guidelines and creating a new government "seal of approval" for mortgage loans that meet standard underwriting guidelines. Dotzour said this would help raise confidence in private bond rating agencies and the mortgage insurance industry.
"Together, these efforts would drive down mortgage interest rates dramatically and allow American homeowners to refinance," Dotzour said. "This looks like heavy-handed government intervention into the housing market, but we are likely to see heavy-handed intervention anyway, so we might as well do something that might actually work."
The Real Estate Center (http://recenter.tamu.edu) has been providing solutions through research for 35 years. Funded primarily by Texas real estate licensee fees, the Center was created by the state legislature to meet the needs of many audiences, including the real estate industry, instructors, researchers and the general public.
Note to Editors
To interview Dr. Mark Dotzour, call 979-862-6292
Additional research information:
Dr. James Gaines, 979-845-2079
Other contacts: Bryan Pope, 979-845-2088, BPope(at)mays.tamu.edu. For information on the Real Estate Center, contact Senior Editor David. S. Jones at 979-845-2039 (voice), 979-845-0460 (fax) or djones(at)recenter.tamu.edu. More than 29,000 pages of data are available at the Center's web site.
Press Contact: Dr. Mark Dotzour
Company Name: The Real Estate Center
Phone: 979-862-6292
Website: recenter.tamu.edu
SBSS PayNet 1.0 Model Suite Introduced By PayNet and Fair Isaac
PayNet and Fair Isaac Introduce the New SBSS PayNet 1.0 Model Suite
SKOKIE, Ill. & MINNEAPOLIS-- June 02, 2008 --PayNet, Inc. and Fair Isaac Corporation (NYSE:FIC) today announced the launch of the new SBSS PayNet 1.0 scoring models. This model suite combines PayNet's powerful commercial database with Fair Isaac's statistical and analytical expertise. Fourteen of the 20 models support term loan/line of credit lending and six models support leasing. The SBSS PayNet 1.0 model suite has been proven in testing to be highly effective in enhancing existing risk processes to predict the potential delinquent behavior of small business accounts. The solution allows the small business lender to achieve greater profitability through increased acceptance rates and decreased losses providing lenders different data sources to evaluate risk. The scores are available through the latest release of LiquidCredit® service 6.6.1 from Fair Isaac.
"Small business is the engine that drives the U.S. economy, and with the economy now under severe pressure, lenders and lessors who serve small businesses are looking for new ways to improve profitability while mitigating risk," said Marcus Bishop, Vice President Product Management, Fair Isaac Corporation. "The newest release of Fair Isaac LiquidCredit, which includes new SBSS PayNet models, is exactly what these businesses need to compete and win."
Tom Ware, PayNet's Senior Vice President of Analytics & Product Development, added "We have heard for a long time that both banks and finance companies wanted a comprehensive scoring solution based on 'comparable' term credit data, rather than just on trade data, and that they wanted it as part of the time-tested and trusted Fair Isaac SBSS model suite, so that it can be used immediately. This new release of SBSS now provides banks and finance companies with this more powerful solution."
About PayNet
PayNet provides world-class commercial leasing/lending solutions for equipment financing based on its exclusive combination of proprietary term-debt database, state-of-the-art scoring science and commercial-lending expertise. These dynamic solutions have proven to enhance every aspect of commercial-lending portfolios from profitability and risk management to credit-decisioning procedures and operating cost-control. PayNet's extensive capabilities include its Strategic Business Review - a comprehensive analysis of a lender's business, including credit quality and default rate analyses of existing portfolio, current originations, and potential markets, based on peer benchmarking against industry competitors. These solutions span every segment of commercial equipment lending and leasing from Transportation, Construction and Agriculture to Healthcare and Retailing. Learn more about PayNet at www.paynetonline.com.
About Fair Isaac
Fair Isaac Corporation (NYSE:FIC) transforms business by making every decision count. Fair Isaac's Decision Management solutions combine trusted advice, world-class analytics and innovative applications to give organizations the power to automate, improve and connect decisions across their business. Clients in 80 countries work with Fair Isaac to increase customer loyalty and profitability, cut fraud losses, manage credit risk, meet regulatory and competitive demands, and rapidly build market share. Fair Isaac also helps millions of individuals manage their credit health through the www.myFICO.com website. Learn more about Fair Isaac at www.fairisaac.com.
Fair Isaac Statement Concerning Forward-Looking Information
Except for historical information contained herein, the statements contained in this press release that relate to Fair Isaac, including statements regarding its LiquidCredit product offerings, and the benefits to be derived from these offerings, are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including any unforeseen technical difficulties related to the implementation, use and functionality of the offerings, the risks that customers will not perceive material benefits from the offerings, failure of the products to deliver the expected results, the possibility of errors or defects in the offerings, regulatory changes applicable to the use of consumer credit and other data, and other risks described from time to time in Fair Isaac's SEC reports, including its Annual Report on Form 10-K for the year ended September 30, 2007, and its quarterly report on Form 10-Q for the period ended March 31, 2008. Forward-looking statements should be considered with caution. If any of these risks or uncertainties materializes or any of these assumptions proves incorrect, Fair Isaac's results could differ materially from Fair Isaac's expectations in these statements. Fair Isaac disclaims any intent or obligation to update these forward-looking statements.
Contacts
PayNet, Inc.
Doug Cleveland
847-745-6065
Subscribe to Posts [Atom]
