Contact A Train Accident Attorney In Bowie, Md For The Legal Guidance You Need

Posted on May 26, 2020May 27, 2020Categories Cars

byAlma Abell

When someone’s been injured due to a train accident, it’s important they protect their rights. A train accident attorney in Bowie, MD should immediately be hired to begin the investigation of the cause and review the evidence. A victim doesn’t have the knowledge an attorney has in this type of situation, and they need to focus on healing. An attorney will interview any possible witnesses and examine the scene of the accident. If a loved one passed away due to the accident, they can help to file a wrongful death claim on behalf of the surviving family members.

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There are several things that can cause accidents or injuries involving public transportation. Overcrowding is common with people trying to get to work on time. Drivers that make sudden starts or stops can cause injuries to the passengers on the train. Mechanical failure of the tracks or the train cars can lead to devastating consequences. If the train isn’t properly maintained, it could lead to an accident. The sheer size and weight of a train can cause severe injuries or death to passengers, drivers, workers, and bystanders in the area. The only way for a victim to receive the compensation they deserve after this type of traumatic experience is with the help of a train accident attorney in Bowie, MD.

The speed a train travels can be exceeded by the driver, which could cause the train to derail. A public transportation system will do everything they can to protect themselves and avoid paying out on a claim due to a train accident. Although there are mechanisms built into many of the systems to reduce the chances of a train traveling at a dangerous speed, they can fail. Unraveling the evidence in a train accident takes immense concentration and is very complex. One company could own the rails and someone else could own the cars or employ the drivers. Finding out who is responsible is the basis for a personal injury claim.

Finding out the truth is the most important thing an attorney can do for a client that’s been injured in a train accident. Get more information on how an attorney can help you.

Australia/2006

Posted on May 23, 2020May 24, 2020Categories Uncategorized

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The Dangers Of A Foreign Currency Mortgage

Posted on May 21, 2020May 22, 2020Categories Finance Specialists

The Dangers of a Foreign Currency Mortgage

by

michellesymonds

In the 2000s some British mortgage borrowers who were sold complicated foreign currency mortgages are suffering a disadvantage with high repayments and increasing debt because of large fluctuations in exchange rates. The hardest hit borrowers have been those with home loans linked to the Japanese yen which has recentlyrisen to levels not seen in over 20 years.

Many experts believe that these foreign currency mortgages should never have been sold to clients who did not fully appreciate the risks attached to such deals and urge clients to always take professional advice regarding foreign currency loans.

Japanese yen foreign currency mortgages were sold in the early to mid 2000sin order for borrowers to take advantage of the low interest rates in Japan at a time when interest rates were not low in the UK. This meant that monthly mortgage repayments were less expensive than for a normal UK mortgage. In 2004the difference in yen mortgage interest rates and sterling interest rates wasabout 5 per cent so the savings were substantial.

[youtube]http://www.youtube.com/watch?v=cPzKciqOB3w[/youtube]

However, the risk associated with a mortgagesin a foreign currency is that if the foreign currency increases in value against sterling, the monthly repayments go up in equivalent sterling terms. In addition, the total amount of the debt in sterling also rises.

Shocking figures that illustrate just how great this risk is show that a Japanese yen based mortgage equivalent to 500,000 in 2004 would have increased to a debt of 770,000 by 2009 and a staggering 855,000 by 2012 because the yen-sterling exchange rate had risen from 200 to 117 to the pound over that period.

Japanese yen, Swiss franc and US dollarmortgages were all sold by well-known British banks in particular to UK expats living overseas, but experts have argued that foreign currency mortgages are only suitable for sophisticated investors who understand the risks. Foreign currency mortgages can be a good solution for some high net worth clients who, for instance,do not receive their income in sterling or who have major assets in foreign countries. Such investors can benefit from this type of deal but banks were selling these loans in the 2000s to less knowledgeable investors as a means of just reducing the interest rate payable. There was no managed multi-currency loan arrangement to hedge the associated risks so it proved to be a highly risky strategy.

Some of the borrowers whose mortgages have been adversely affected by the yen exchange rate rises have reported that they were not fully warned of the dangers of such loans. Furthermore, many of them are not covered by the UK financial services jurisdiction so cannot have their complaints investigated by the UK\’s financial ombudsman.

High net worth mortgage experts believe that foreign currency mortgages are harder to obtain now than they were 10 years ago but many banks still offer this facility in the UK. Anyone considering such a home loan should take professional advice from a high value mortgage broker with experience in this type of lending and ensure they fully understand the risks before agreeing to such a loan.

This article has been written on behalf of Enness Private Clients, who offer an expert and focussed service specifically for clients requiring

High net worth mortgage

. As a specialist

high value mortgage broker

they work with people from all walks of professional life: from lawyers, hedge fund managers and board directors to entrepreneurs and self-employed business people.

Article Source:

ArticleRich.com

NTSB announces safety recommendations to be made in aftermath of Comair Flight 5191 disaster

Posted on February 22, 2020February 23, 2020Categories Uncategorized

Saturday, June 9, 2007

The American National Transportation Safety Board has announced that it will make new airline safety recommendations. This comes a result of its investigation into the Comair Flight 5191 disaster, in which a Bombardier Canadair Regional Jet (CRJ) CRJ-100ER crashed whilst attempting take-off from the wrong runway at Blue Grass Airport, Lexington, killing 49 people and leaving just one survivor. The plane was unable to take off because that runway was too short.

The NTSB has now announced that, on July 26, the date on which the NTSB is to determine the probable cause of the accident, they will issue safety recommendations regarding methods of preventing a recurrence of the disaster.

One of the recommendations will concern developing and implementing a cockpit-based system that will inform pilots when they are in the wrong location. Another will involve rescheduling the workloads of Air Traffic Controllers to ensure they receive more sleep, a request they had previously made in April.

Regarding location warning systems, the FAA has pointed out that they have been working on methods of preventing runway incursions (in which a person, ground vehicle or another aircraft is on the runway when or where it should not be), to which the National Transportation Safety Board chairman Mark Rosenker responded “The FAA is doing a great job testing these systems. The question we have is, when will you finally implement that technology?” FAA Associate Administrator Margaret Gilligan responded by saying that they were currently looking at just such a system, adding “We do have airlines that have committed to put that technology on the flight deck once it’s approved”. The system referred to involves runway signal lights and is currently being tested at Dallas-Fort Worth International Airport.

The NTSB will also look at runway and taxiway markings and the ways they can confuse pilots, as this issue has been identified as a contributing factor in the accident. Rosenker said the NTSB was “very interested” in this area. 140 airports have unclear or confusing markings in the US, but it is not certain if Blue Grass Airport is one of them. However, the Air Line Pilots Association (ALPA) made a submission to the NTSB stating that they had found that the markings at Blue Grass Airport did not match those on the charts the pilots were using. ALPA went on to recommend greater standardisation of airport runway markings.

Blue Grass Airport responded yesterday by saying that there was nothing wrong with their runway markings, with spokesman Brian Ellestad saying “We have had numerous inspections before and after (the Comair crash) and have had no issues… FAA reiterates that we meet all requirements for signage, markings, lighting, runways and taxiways.”

Denny’s Super Bowl free ‘Grand Slam Breakfast’ brings 2 million diners

Posted on February 21, 2020February 22, 2020Categories Uncategorized

Friday, February 6, 2009

Denny’s 1,600 chain restaurants across North America, Puerto Rico and Canada, were slammed for eight hours Tuesday with hungry patrons standing on sidewalks for nearly two hours to take advantage of the $5.99 “Grand Slam Breakfast” giveaway.

Denny’s, a dining chain with annual revenue of about $900 million, has advertised in a TV commercial Sunday during the Super Bowl XLIII that it would give away its signature breakfast from 6 a.m. until 2 p.m. local time Tuesday, at all its restaurants in the U.S., Canada and Puerto Rico, while supplies lasted.

Denny’s Diner has promoted the iconic dish giveaway heavily, with a bold 30-second appeal ad that aired during the third quarter of the Super Bowl 43 on Sunday, plus another 15-second ad during the post-game show, offering a free breakfast to some 90 million viewers. In addition, it has placed a full-page ad in USA Today‘s Monday edition. The promotion was further announced on The Today Show and notices were also sent out to the chain’s “Denny’s Breakfast Club” members.

The NBC ad, which was bought to unveil a new promotion for customers squeezed by the recession, may have cost as much as $3 million, said Nelson Marchioli, CEO of Denny’s Corp. Super Bowl XLIII’s 30-second commercial time slot costs $2.4 million–$3 million for the airtime alone, excluding production and talent costs.

The game was televised live by the US NBC Sunday Night Football and Canada’s CTV Television Network. BayTSP has reported that, “as of 10 a.m. Wednesday, commercials that initially aired during NBC’s Super Bowl XLIII broadcast subsequently had been watched online more than 28 million times.”

“The promotion has a total cost of $5 million U.S., which includes $3 million for the commercial on NBC,” said a Denny’s spokesman, noting also that the company received about $50 million in news coverage, most of which was positive. According to a Denny’s representative, two million people walked through the restaurant chains’ doors Tuesday, and each Denny’s restaurant served an average of 130 Grand Slams per hour.

With the “Denny’s Feeds America” promotion, the company has reported 14 million hits on its Web site between Sunday night and Monday morning. Denny’s shares rose 6 cents, or 3.1 percent, to $1.98 in afternoon trading. The stock has traded in a range of $1.18 to $4.10 over the past 52 weeks.

“Denny’s free Grand Slam” has ranked in the top 10 Google searches early Tuesday and fell to No. 18 by the end of the promotion, while “denny s locations” was #9 on Google Trends, which tracks fast-rising searches. It has also held spots No. 1 (Denny’s) and 7 (Grand Slam) on Twitter‘s trending topics. It has generated much chat on Twitter, garnering 1,700 tweets on Tuesday, compared with its average of 59. Doritos, winner of the USA TODAY survey for best Super Bowl spot ad, had 933 mentions after reaching a peak of almost 3,300.

The idea of the TV ad was to get people to come in and re-evaluate Denny’s Diner. “A lot of people have forgotten what Denny’s is, or they think they know, while we’ve come out with a whole lot of new products. We felt like we needed to jump start the brand,” Denny’s Chief Marketing and Innovation Officer Mark Chmiel said.

“We’re celebrating the Grand Slam this year,” Chmiel said. According to the company’s financial data, on January 15 Denny’s reported systemwide comparable-store sales for the fourth quarter were down 6.1 percent, compared to a 0.2 percent decline from the same period in 2007.

According to Robert Gonzalez, public relations company Hill & Knowlton spokesman, Denny’s has expected at least 2 million people to eat a free Grand Slam by the end of the promotion. “Every restaurant is packed with people and lines,” Gonzalez said. “Everything today is about fast. People are on the go, and they’re eating fast food. It’s cutting into sit-down dining,” he added.

“Each of the more than 1,500 Denny’s were planning to make about 100 Grand Slams an hour,” Denny’s spokeswoman Cori Rice said. It had predicted it will have served about 1,400 people per location, more than five times the normal volume. “Grand Slam Breakfast” is a four-item option on its menu, consisting of two pancakes, two eggs, two strips of bacon and two sausage links. It weighs in at 44 grams of fat, 56 carbohydrates and 770 calories.

Nationwide, Denny’s expected to sell about 2 million Grand Slams — about 15 percent of the annual tally. According to Mark Chmiel, chief marketing operator and executive vice president, the diner chain has reported approximately 2 million meals worth more than $12 million were given away nationwide and each Denny’s restaurant served an average of 130 Grand Slams per hour. It estimated it has earned about $50 million worth of public relations following the free Grand Slam campaign, Chmiel said.

The company is also experimenting with a Grand Slam Burrito and also has introduced for this year, a Grand Slamwich, which includes eggs, bacon, sausage and cheese between two slices of bread, with a teaspoon serving. “It already has shown strong consumer appeal,” said Chmiel. The company has received flood of e-mails and letters proving the positive impact of the Grand Slam campaign and commercials on its customers.

Chmiel also announced he’s planning a third major promotion in this year’s third quarter, which happens to include another major sporting event, the World Series. “That’s one we’re definitely looking at,” he said.

Jobless Paris Winslow of downtown San Francisco, California has joined the long line which stretched from the front door on Mission Street, between Fourth and Fifth streets, to the corner of Fourth and up the block. “The economy is getting kind of scary. This line looks like those pictures of soup kitchen lines during the 1929 Great Depression,” Winslow said.

“I came all the way from San Francisco for a free $6 meal, Isn’t that pathetic? A year ago, I never would have done this. These days I’m willing to put my ego on the back burner,” said Stephen Weller, a jobless contractor who waited with his dog, Emmett. California Denny’s restaurant managers have issued rain checks (for free chilled meals, as security backed by actual bacon) to anyone who failed to get in by the 2 p.m. deadline.

A big eater could also “Slam It Up” by adding any two additional items for 99 cents each to their meal. Customers on Tuesday were also handed “bounceback” coupon books that include offers for additional free menu items with purchases. Chicago Tribune reporter Kevin Pang has eaten five free Grand Slams on Tuesday at five different Denny’s Diners in four hours. He claims to have consumed 4,100 calories at Harwood Heights, 5:36 a.m, at Schiller Park, 6:22 a.m., at Franklin Park, 7:08 a.m., at Melrose Park, 7:41 a.m. and at Grand Slam No. 5 Oak Park, 8:57 a.m.

“The Grand Slam has always been a Denny’s favorite. This free offer is our way of reacquainting America with Denny’s real breakfast and with the Denny’s brand,” Denny’s CEO Nelson Marchioli said in a statement. In 1977s, the Grand Slam started as a baseball-related promotion in Atlanta, Georgia. Its normal price averages around $5.99. Marchioli said the event was also a way to kick-off its “Year of the Grand Slam” promotion. Denny’s claimed it has sold 12.5 million Grand Slams a year.

“The economy’s tough and people are jumping all the way to fast food to try to figure it out. We all use fast food, whether it’s for time or convenience or for money. But you can go to Denny’s and you don’t have to give up a real breakfast and that was the whole focus of our commercial,” Marchioli explained. McDonald’s (MCD, Fortune 500) has done well during this economic meltdown since the global recession pushes people toward less expensive dining options.

McDonald’s has announced plans Wednesday to open 175 new restaurants in China this year despite the global economic crisis, thereby increasing the number of outlets in China by 17 percent, from 1,050 currently. Last month, McDonald’s 2008 net profit has risen 80 percent from 2007 to 4.3 billion dollars.

Marchioli has also introduced Denny’s $4 Weekday Express Slam, which is a streamlined version of the Grand Slam. “I want to take back share. For too long, we have allowed others to take share, whether it was Starbucks or McDonald’s. They’re fine competitors and I don’t expect to take all their business from them, but I’d like a little bit back,” Marchioli noted.

According to Rafi Mohammed, author of “The Art of Pricing,” people love free. “It triggers a Pavlovian response in people,” said Mohammed. If Pavlov’s dogs salivate when a bell rings, Denny’s free Grand Slam breakfast has attracted 2 million hungry customers. “I believe free maximizes trial and doesn’t devalue a product as long as it is a rare event. Aside from the cost, the major downside is that it attracts customers who truly have no intention of coming back,” he added.

According to University of Portland consumer psychology professor Deana Julka, people flock to free promotions amid just a few dollars saving because there’s nothing in life for free. “So when there’s something out there that costs nothing, it creates a psychological rush. Especially in these times when people feel overtaxed or overburden, there’s an internal reward people feel by getting something for free,” she said. “It’s being thrifty and feeling like you beat the system. Free really hits the spot for a lot of people,” Julka added.

“Free is an emotional hot button. When free is concerned, there is no downside – or, at least, we don’t see the downside immediately. So we overvalue everything that is free. People love free stuff, particularly when money’s tight,” said Dan Ariely, a business professor at Duke University, author of “Predictably Irrational: The Hidden Forces That Shape Our Decisions.”

Experts, however, explained these moves need to be done sparingly, since giveaways can teeter in the balance between desperation and a well designed marketing ploy. “Giving your product away for free is not worth it because it undermines your brand value,” said branding expert Rob Frankel, saying people are attached to the idea of it being free, than the actual product itself.

Free giveaways are not anything new in the food industry. “It just feels good when you can get something for free and not have to worry about it coming out of your wallet,” Frankel noted. Dunkin’ Donuts and Panera Bread all have had free coffee and food promos last year. “In November, Starbucks gave away free cup of coffee to anyone who came in on Election Day. Have you taken a look at how Starbucks is doing now?” Last week it has announced it would shut down 300 stores, in addition to the 600 it already planned to close.

On February 24, IHOP will be offering a free shortstack to every customer to encourage donations (in place of the cost) for Childrens Miracle Network. The International House of Pancakes (IHOP) is a United States-based restaurant chain that specializes in breakfast foods and is owned by DineEquity. The chain had more than 1950 restaurants in all 50 states, the U.S. Virgin Islands, Canada and Mexico. Since 2006, IHOP’s National Pancake Day celebration has raised over $1.85 million. In 2008, over 1.5 million pancakes (12 miles high if they were stacked) were given to customers for donations.

Denny’s (“Denny’s Diner”) is a full-service diner/family restaurant chain in the United States. It operates over 2,500 restaurants in the United States (including Puerto Rico), Canada, Curaçao, Costa Rica, El Salvador, Jamaica, Japan, Mexico, and New Zealand). The resto chain is known for always being open, serving breakfast, lunch, dinner, and dessert around the clock.

Today, Denny’s operates about 1,600 restaurants in all 50 U.S. states, Canada and Mexico. There are also about 578 Denny’s restaurants in Japan operated under a license by a subsidiary of Seven & I Holdings, seven Denny’s locations in New Zealand, and approximately 38 Denny’s diners in the United States. Denny’s headquarters is now located in Spartanburg, South Carolina, headquarters of the parent company Trans World Corporation that acquired Denny’s in 1987.

Denny’s was historically notable for offering a free meal to anyone on their birthday. The offer included a limited number of meal options from a special birthday menu. The promotional ritual ceased in 1993, though occasionally individual franchises will continue the tradition.

In 2008, Denny’s has ceased to be in the ranks among the top diner chains in the $83 billion breakfast market, whose top five firms — McDonald’s, Starbucks, Dunkin’ Donuts, Burger King and IHOP — accounted for 22 percent of the volume. “A lot of consumers have written Denny’s off their let’s-go-there list,” said Ron Paul, president of Technomic, a consulting firm.

Super Bowl XLIII was an American football game between the American Football Conference champion Pittsburgh Steelers (15–4) and the National Football Conference champion Arizona Cardinals (12–8) to decide the National Football League (NFL) champion for the 2008 NFL season. It was played on February 1, 2009, at Raymond James Stadiumin Tampa, Florida. It has an attendance of 70,774 and 98.7 million viewers. Pittsburgh earned its sixth Super Bowl win, thus securing sole possession of the record for most Super Bowl wins.

Companies That Provide Title And Closing Services Are Invaluable

Posted on February 21, 2020February 22, 2020Categories Property Data

byadmin

Purchasing a home places a lot of items on your “to do” list and one of the most important is to choose a title and closing company. Title companies go back as far as the home has been in existence to make sure the title is clean, which makes title and closing services very valuable indeed. After all, no one wants to find out on the day of his or her closing that there is a problem with the title such as undocumented owners or liens that haven’t been paid. Working with a title company discloses all this information, which makes it easier to decide what to do next.

Title Companies Do Extensive Research

Companies that provide title and closing services do extensive research into the home’s title and also prepare the paperwork for closing so that nothing is left undone. Whether the problem is missing heirs, some type of fraud, will misrepresentation, or mistakes that were made when the documents were recorded, these companies will catch it and even offer advice on what your next step should be. They enable you to have peace of mind going into your closing so that there are no surprises in later years.

Don’t Go it Alone

Not using a title company is only asking for trouble but using one allows you to feel good when nothing suspicious turns up. Companies such as Prestige Title work with owners of all types of properties and their thorough work means that you do not have to worry about being held liable if there is a problem because it will be cand performs all the duties that all reputable title companies do. Furthermore, their comprehensive title and closing services ensure that you will be completely prepared for your home’s closing, enabling you to relax until that important day. For more information visit prtitle.com. You can also join them on Google+ for more updates!

Australian unemployment at lowest level in 30 years

Posted on February 19, 2020February 20, 2020Categories Uncategorized

Friday, June 9, 2006

Australian Prime Minister John Howard announced Australia’s unemployment rate for May 2006 on Thursday. The rate had dropped to 4.9 percent, the first time since 1976 that unemployment in Australia had been below five percent.

Mr Howard said 56,000 full time jobs were created in May with 38,000 of those taken up by women. He said it was a symbol of how well his government was managing the economy. “The result is a wonderful symbol of the success of the Government’s economic policies.” said Mr Howard.

According to the government 1.8 million jobs have been created since it took office in March 1996.

The number of people actively seeking work also increased, a sign Mr Howard said that people are “confident of finding work.”

At an interview in Sydney, Mr Howard told reporters that he believed the unemployment rate would be driven down further when the benefits of his Workchoices industrial relations reforms begin to show. “I believe, as some of the effects of the workplace relations changes work their way through, then the unemployment rate, particularly in small business, will go down even further,” he said.

Mr Howard denied that Workchoices had any affect on the figures for May saying that it was too early to tell. “I am not going to make that claim. It’s only May’s figures and the changes only came in March. I think it is too early to make that claim” Mr Howard told reporters.

Following the announcement, Liberal MP Wilson Tuckey said that the rise in the number of jobs could not have happened without the government’s industrial relations reforms. “We wouldn’t have achieved these outcomes, particularly in employer hiring, without the changes we’ve made,”

“When employers have confidence in their hiring arrangements as the Workchoices gives them, they’re going to go out and hire more people” said Mr Tuckey.

Stephen Smith, workplace spokesperson for the opposition attacked Mr Tuckey’s claims, stating that all the government’s new industrial relations legislation has achieved is reduced wages. “The suggestion that somehow we’ve got these employment and unemployment figures as a result of 30 days of John Howard slashing wages is a complete nonsense,” he said.

“It’s great that we’ve got a 30-year low in unemployment but that’s a result of 15 years of continuous economic growth and a resources boom.” said Mr Smith.

Chula Vista, California becomes model for blight control laws in the US

Posted on February 19, 2020February 20, 2020Categories Uncategorized

Tuesday, October 14, 2008

The San Diego, California suburb of Chula Vista has responded to the recent housing crisis with an aggressive blight control ordinance that compels lenders to maintain the appearance of vacant homes. As foreclosures increase both locally and throughout the United States, the one year old ordinance has become a model for other cities overwhelmed by the problem of abandoned homes that decay into neighborhood eyesores.

Chula Vista city code enforcement manager Doug Leeper told the San Diego Union Tribune that over 300 jurisdictions have contacted his office during the past year with inquiries about the city’s tough local ordinance. Coral Springs, Florida, and California towns Stockton, Santee, Riverside County, and Murietta have all modeled recently enacted anti-blight measures after Chula Vista’s. On Wednesday, 8 October, the Escondido City Council also voted to tighten local measures making lenders more accountable for maintenance of empty homes.

Lenders will respond when it costs them less to maintain the property than to ignore local agency requirements.

Under the Chula Vista ordinance lenders become legally responsible for upkeep as soon as a notice of mortgage default gets filed on a vacant dwelling, before actual ownership of the dwelling returns to the lender. Leeper regards that as “the cutting-edge part of our ordinance”. Chula Vista also requires prompt registration of vacant homes and applies stiff fines as high as US$1000 per day for failure to maintain a property. Since foreclosed properties are subject to frequent resale between mortgage brokers, city officials enforce the fines by sending notices to every name on title documents and placing a lien on the property, which prevents further resale until outstanding fines have been paid. In the year since the ordinance went into effect the city has applied $850,000 in fines and penalties, of which it has collected $200,000 to date. The city has collected an additional $77,000 in registration fees on vacant homes.

Jolie Houston, an attorney in San Jose, believes “Lenders will respond when it costs them less to maintain the property than to ignore local agency requirements.” Traditionally, local governments have resorted to addressing blight problems on abandoned properties with public funds, mowing overgrown lawns and performing other vital functions, then seeking repayment afterward. Chula Vista has moved that responsibility to an upfront obligation upon lenders.

That kind of measure will add additional costs to banks that have been hit really hard already and ultimately the cost will be transferred down to consumers and investors.

As one of the fastest growing cities in the United States during recent years, Chula Vista saw 22.6% growth between 2000 and 2006, which brought the city’s population from 173,556 in the 2000 census to an estimated 212,756, according to the U.S. Census Bureau. Chula Vista placed among the nation’s 20 fastest growing cities in 2004. A large proportion of local homes were purchased during the recent housing boom using creative financing options that purchasers did not understand were beyond their means. Average home prices in San Diego County declined by 25% in the last year, which is the steepest drop on record. Many homeowners in the region currently owe more than their homes are worth and confront rising balloon payment mortgages that they had expected to afford by refinancing new equity that either vanished or never materialized. In August 2008, Chula Vista’s eastern 91913 zip code had the highest home mortgage default rate in the county with 154 filings and 94 foreclosures, an increase of 154% over one year previously. Regionally, the county saw 1,979 foreclosures in August.

Professionals from the real estate and mortgage industries object to Chula Vista’s response to the crisis for the additional burdens it places on their struggling finances. Said San Diego real estate agent Marc Carpenter, “that kind of measure will add additional costs to banks that have been hit really hard already and ultimately the cost will be transferred down to consumers and investors.” Yet city councils in many communities have been under pressure to do something about increasing numbers of vacant properties. Concentrations of abandoned and neglected homes can attract vandals who hasten the decline of struggling neighborhoods. Jolie Houston explained that city officials “can’t fix the lending problem, but they can try to prevent neighborhoods from becoming blighted.”

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Does Chula Vista’s solution save neighborhoods or worsen the financial crisis?
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CEO Robert Klein of Safeguard, a property management firm, told the Union Tribune that his industry is having difficulty adapting to the rapidly changing local ordinances. “Every day we discover a new ordinance coming out of somewhere”, he complained. Dustin Hobbs, a spokesman from the California Association of Mortgage Bankers agreed that uneven local ordinances are likely to increase the costs of lending. Hobbs advised that local legislation is unnecessary due to California State Senate Bill 1137, which was recently approved to address blight. Yet according to Houston, the statewide measure falls short because it fails to address upkeep needs during the months between the time when foreclosure begins and when the lender takes title.

Hotel development proposal could displace Buffalo, NY business owners

Posted on February 17, 2020February 18, 2020Categories Uncategorized
Buffalo, N.Y. Hotel Proposal Controversy
Recent Developments
  • “120 year-old documents threaten development on site of Buffalo, N.Y. hotel proposal” — Wikinews, November 21, 2006
  • “Proposal for Buffalo, N.Y. hotel reportedly dead: parcels for sale “by owner”” — Wikinews, November 16, 2006
  • “Contract to buy properties on site of Buffalo, N.Y. hotel proposal extended” — Wikinews, October 2, 2006
  • “Court date “as needed” for lawsuit against Buffalo, N.Y. hotel proposal” — Wikinews, August 14, 2006
  • “Preliminary hearing for lawsuit against Buffalo, N.Y. hotel proposal rescheduled” — Wikinews, July 26, 2006
  • “Elmwood Village Hotel proposal in Buffalo, N.Y. withdrawn” — Wikinews, July 13, 2006
  • “Preliminary hearing against Buffalo, N.Y. hotel proposal delayed” — Wikinews, June 2, 2006
Original Story
  • “Hotel development proposal could displace Buffalo, NY business owners” — Wikinews, February 17, 2006

Friday, February 17, 2006

Buffalo, New York —Savarino Construction Services Corp. has proposed a $7 million hotel project at the Forest and Elmwood Avenue intersection, according to The Buffalo News. The proposal calls for a 5-story, 45,000 square-foot 80-room hotel with underground parking for at least 50 vehicles, and 4,500 square-feet of retail space on the lower level.

Hans Mobius, the owner of the five properties to be purchased in the plan (1109 to 1121 Elmwood), reportedly signed a contract with Savarino to assemble the development.

“We saw a huge opportunity to bring something to the Elmwood Village that will make sense and bring a service that’s currently not available,” said Eva Hassett, vice president of Savarino. “Elmwood is such a wonderful place to eat, shop, walk and spend time. We believe this project will add to that vibrant environment.”

Some business owners in the area see it differently. Wikinews interviewed 2 of the 4 owners whose business’s would be demolished if the development goes through.

Nancy Pollina, of Don Apparel at 1119 Elmwood, who found out about the development only yesterday, said she is “utterly” against the proposal. Her apparel shop has stood at the same location for nearly 14 years. She has volunteered in the community, and helped create several gardens around bus shelters in the city, and served on Forever Elmwood Board for six years as head of Beautification. Patty Morris co-owns Don Apparel with Pollina.

“To say this is a good looking project, I want to say the emperor has no clothes. This [project] does not take into consideration the needs of the college students. I have been told by college students, these shops here, are the reason they leave the campus,” said Mrs. Pollina.

Buffalo State College is 500-feet from the intersection.

Michael Faust, the owner of Mondo Video said, “Well, I do not really want to get kicked out of here. The landlord was very open, and the deal he made with me when I moved in here was ‘the rent is cheap and I [the landlord] will not fix anything and that will not change.'” Faust said he first learned of the development plan, “about 48 hours ago. I found out on Tuesday when the Buffalo News called and asked for my opinion on this.” Faust has not said if he will make plans to relocate. “We have to see if this [house] is going to get knocked down first,” said Faust.

An “informational” meeting, where citizens can voice opinions and learn about the proposal, will be held on Tuesday February 21, 2006 at 5:00pm (eastern), at the Burchfield-Penney Art Center Gallery at Buffalo State College, Rockwell Hall.

Executive director of Forever Elmwood Corporation, Justin P. Azzarella would not comment on whether or not the organization supports the development, saying, “you will just have to come to the meeting.”

Forever Elmwood Corp. is designed to preserve and protect the unique and historic nature of Elmwood Avenue and its surrounding neighborhoods and encourage neighborhood commercial revitalization. The organization was founded in 1994.

Nearly two years ago, the Forever Elmwood Corp. assisted in the blocking of the demolition of the Edward Atwater house at 1089 Elmwood next to Pano’s Restaurant which is at 1081 Elmwood. Owner Pano Georgiadis wanted to expand his restaurant onto the property where the house now stands, but the Common Council denied his permit to demolish saying the house is a historical landmark and needs to be protected. Georgiadis, who has a bleeding ulcer, said that all the court cases landed him in the hospital. “I got a bleeding ulcer, and since then, I don’t care about this house anymore, or this city. I just go to work every day. I think [preservationists] are parasites,” said Georgiadis.

Georgiadis will not be attending Tuesday’s meeting saying, “I will be out of town.”

In 1995 Hans Mobius proposed a plan to develop a Walgreens, that was to be placed in the same location, but residents and business owners shot down the proposal. Walgreens eventually withdrew its request for a variance after pressure from the community.