Real estate notes | TribLIVE

By Sam Spatter

Published: Saturday, December 22, 2012, 8:56?p.m.
Updated 2 hours ago

? Mary Ann Sipos of the Pennsylvania Housing Finance Agency was named certified property manager of the year by Western Pennsylvania Chapter 7 of the Institute of Real Estate Management. NDC Real Estate Management Inc., Oakland, was named accredited management organization of the year. Marc F. Battistone, Massaro Properties LLC, was elected Institute president. Anthony Williams, Crossgates Management Inc., is president-elect. Gary R. Kowalczyk, Forest City Residential Management, is secretary-treasurer.

? Herr-Voss Stamco, Callery, Butler County, has renewed its lease in Building One of Schreiber Industrial Park North on Grandview Boulevard in Zelienople. The structure was built in 1968 on 5.6 acres. It has 15 percent office space, eight loading docks and a 10-ton crane. Scott Long of Pennsylvania Commercial Real Estate Inc. represented the landlord. Herr-Voss opened a mill services facility at its New Ross (Crawfordsville, Ind.) site. The maintenance shop complements six other mill service shops in Indiana, Pennsylvania and California.

? Colliers International reported the Pittsburgh industrial market ended September with 8.9 percent vacancy, down from 9.5 percent at the end of the second quarter. In the July-September period, net space leased was 107,935 square feet, compared to a loss of 466,221 square feet in the second quarter. At the end of September, 138,299 square feet of industrial space was under construction.

? George Hackett, president of Coldwell Banker Pittsburgh, was elected president and director of West Penn Multi-List Inc. for a two-year term. Other officers are Helen Hanna Casey, president, Howard Hanna Co., vice president and director; Robert Freeman, president, Freeman Realty Co., treasurer and director; Thomas Hosack, president, Northwood Realty Co., secretary and director; and Ronald Croushore, president, Prudential Preferred Realty, director. Barbara Kohl, who has served as executive vice president, is chief operating officer.

? AE Works Ltd., based in Pittsburgh, was architect and engineer for the recently completed James Van Zandt VA Medical Center Rehabilitation Clinic campus in Altoona.

? LaCreesha McKenzie and her daughters moved into a house at 3932 40th St., New Brighton, on Dec. 15; it was the 50th home built through Habitat for Humanity of Beaver County.

? A fall completion date is scheduled for the University of Pittsburgh?s $87 million Graduate School of Public Health expansion and renovation project. The work includes a laboratory pavilion that will add 58,000 square feet of space and a 215-seat auditorium. The renovation of all facilities, which house the majority of the school?s classrooms, offices and laboratories, will be completed in 2016.

Sam Spatter is a staff writer for Trib Total Media. He can be reached at 412-320-7843 or sspatter@tribweb.com.

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Source: http://triblive.com/business/realestate/3110208-74/president-director-estate

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Wall Street Week Ahead: A lump of coal for "Fiscal Cliff-mas"

NEW YORK (Reuters) - Wall Street traders are going to have to pack their tablets and work computers in their holiday luggage after all.

A traditionally quiet week could become hellish for traders as politicians in Washington are likely to fall short of an agreement to deal with $600 billion in tax hikes and spending cuts due to kick in early next year. Many economists forecast that this "fiscal cliff" will push the economy into recession.

Thursday's debacle in the U.S. House of Representatives, where Speaker John Boehner failed to secure passage of his own bill that was meant to pressure President Obama and Senate Democrats, only added to worry that the protracted budget talks will stretch into 2013.

Still, the market remains resilient. Friday's decline on Wall Street, triggered by Boehner's fiasco, was not enough to prevent the S&P 500 from posting its best week in four.

"The markets have been sort of taking this in stride," said Sandy Lincoln, chief market strategist at BMO Asset Management U.S. in Chicago, which has about $38 billion in assets under management.

"The markets still basically believe that something will be done," he said.

If something happens next week, it will come in a short time frame. Markets will be open for a half-day on Christmas Eve, when Congress will not be in session, and will close on Tuesday for Christmas. Wall Street will resume regular stock trading on Wednesday, but volume is expected to be light throughout the rest of the week with scores of market participants away on a holiday break.

For the week, the three major U.S. stock indexes posted gains, with the Dow Jones industrial average <.dji> up 0.4 percent, the S&P 500 <.spx> up 1.2 percent and the Nasdaq Composite Index <.ixic> up 1.7 percent.

Stocks also have booked solid gains for the year so far, with just five trading sessions left in 2012: The Dow has advanced 8 percent, while the S&P 500 has climbed 13.7 percent and the Nasdaq has jumped 16 percent.

IT COULD GET A LITTLE CRAZY

Equity volumes are expected to fall sharply next week. Last year, daily volume on each of the last five trading days dropped on average by about 49 percent, compared with the rest of 2011 - to just over 4 billion shares a day exchanging hands on the New York Stock Exchange, the Nasdaq and NYSE MKT in the final five sessions of the year from a 2011 daily average of 7.9 billion.

If the trend repeats, low volumes could generate a spike in volatility as traders keep track of any advance in the cliff talks in Washington.

"I'm guessing it's going to be a low volume week. There's not a whole lot other than the fiscal cliff that is going to continue to take the headlines," said Joe Bell, senior equity analyst at Schaeffer's Investment Research, in Cincinnati.

"A lot of people already have a foot out the door, and with the possibility of some market-moving news, you get the possibility of increased volatility."

Economic data would have to be way off the mark to move markets next week. But if the recent trend of better-than-expected economic data holds, stocks will have strong fundamental support that could prevent selling from getting overextended even as the fiscal cliff negotiations grind along.

Small and mid-cap stocks have outperformed their larger peers in the last couple of months, indicating a shift in investor sentiment toward the U.S. economy. The S&P MidCap 400 Index <.mid> overcame a technical level by confirming its close above 1,000 for a second week.

"We view the outperformance of the mid-caps and the break of that level as a strong sign for the overall market," Schaeffer's Bell said.

"Whenever you have flight to risk, it shows investors are beginning to have more of a risk appetite."

Evidence of that shift could be a spike in shares in the defense sector, expected to take a hit as defense spending is a key component of the budget talks.

The PHLX defense sector index <.dfx> hit a historic high on Thursday, and far outperformed the market on Friday with a dip of just 0.26 percent, while the three major U.S. stock indexes finished the day down about 1 percent.

Following a half-day on Wall Street on Monday ahead of the Christmas holiday, Wednesday will bring the S&P/Case-Shiller Home Price Index. It is expected to show a ninth-straight month of gains.

U.S. jobless claims on Thursday are seen roughly in line with the previous week's level, with the forecast at 360,000 new filings for unemployment insurance, compared with the previous week's 361,000.

(Wall St Week Ahead runs every Friday. Questions or comments on this column can be emailed to: rodrigo.campos(at)thomsonreuters.com)

(Reporting by Rodrigo Campos; Additional reporting by Chuck Mikolajczak; Editing by Jan Paschal)

Source: http://news.yahoo.com/wall-street-week-ahead-lump-coal-fiscal-cliff-012316294--finance.html

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Conn. town in mourning inundated with gifts, money

NEWTOWN, Conn. (AP) ? Peter Leone was busy making deli sandwiches and working the register at his Newtown General Store when he got a phone call from Alaska. It was a woman who wanted to give him her credit card number.

"She said, 'I'm paying for the next $500 of food that goes out your door,'" Leone said. "About a half hour later another gentleman called, I think from the West Coast, and he did the same thing for $2,000."

Money, toys, food and other gifts have poured in from around the world as Newtown mourns the loss of 20 children and six school employees at Sandy Hook Elementary School a little over a week ago. The 20-year-old shooter, Adam Lanza, killed his mother before attacking the school then killing himself. Police don't know what set off the massacre.

Saturday, all the town's children were invited to the Edmond Town Hall in Newtown to choose from among hundreds of toys donated by individuals, organizations and toy stores ? and funeral services for victims continued.

The giving is a way for people beyond Newtown to deal with their own grief over the shooting.

"It's their way if grieving," said Bobbi Veach, who was fielding donations at the town hall building. "They say, 'I feel so bad, I just want to do something to reach out.' That's why we accommodate everybody we can."

The basement of the building resembled a toy store, with piles of stuffed penguins, Barbie dolls, board games, soccer balls and other fun gifts. All the toys were inspected and examined by bomb-sniffing dogs before being sorted and put on card tables. The children could choose whatever they wanted.

"But we're not checking IDs at the door," said Tom Mahoney, the building administrator, who's in charge of handling gifts. "If there is a child from another town who comes in need of a toy, we're not going to turn them away."

The United Way of Western Connecticut said the official fund for donations had $2.6 million in it Saturday morning. Others sent envelopes stuffed with cash to pay for coffee at the general store, and a shipment of cupcakes arrived from a gourmet bakery in Beverly Hills, Calif.

The Postal Service reported a six-fold increase in mail in town and set up a unique post office box to handle it. The parcels come decorated with rainbows and hearts drawn by school children.

Some letters arrive in packs of 26 identical envelopes ? one for each family of the children and staff killed or addressed to the "First Responders" or just "The People of Newtown." One card arrived from Georgia addressed to "The families of 6 amazing women and 20 beloved angels." Many contain checks.

"This is just the proof of the love that's in this country," said Postmaster Cathy Zieff.

The funerals for the victims were wrapping up after a wrenching week of farewells in Newtown. Services were scheduled Saturday in Connecticut for Josephine Gay, 7, and Ana Marquez-Greene, 6. A service was also planned in Utah for 6-year-old Emilie Parker.

Many people have placed flowers, candles and stuffed animals at makeshift memorials that have popped up all over town. Others are stopping by the Edmond Town Hall on Main Street to drop off food, or toys, or cash. About 60,000 teddy bears have been donated, said Ann Benoure, a social services caseworker who was working at the town hall.

"There's so much stuff coming in," Mahoney, of Newtown, said. "To be honest, it's a bit overwhelming; you just want to close the doors and turn the phone off."

Mahoney said the town of some 27,000 with a median household income of more than $111,000 plans to donate whatever is left over to shelters or other charities.

Sean Gillespie of Colchester, who attended Sandy Hook Elementary, and Lauren Minor, who works at U.S. Foodservice in Norwich, came from Calvary Chapel in Uncasville with a car filled with food donated by U.S. Foodservice. But they were sent elsewhere because the refrigerators in Newtown were overflowing with donations.

"We'll find someplace," Gillespie said. "It won't go to waste."

In addition to the town's official fund, other private funds have been set up. Former Sandy Hook student Ryan Kraft, who once babysat Lanza, set up a fund with other alumni that has collected almost $150,000. It is earmarked for the Sandy Hook PTA.

Rabbi Shaul Praver of Congregation Adath Israel is raising money for a memorial to the victims. He said one man wrote a check for $52,000 for that project.

Several colleges, including the University of Connecticut, have set up scholarship funds to pay for the educations of students at Sandy Hook and the relatives of the victims.

Town officials have not decided yet what to do with all the money. A board of Newtown community leaders is being established to determine how it is most needed and will be best utilized, said Isabel Almeida with the local United Way, which has waived all its administrative fees related to the fund.

She said some have wondered about building a new school for Sandy Hook students if the town decides to tear the school down, but that decision has not been made.

And while the town is grateful for all the support, Almeida said, it has no more room for those gifts. Instead, she encouraged people to donate to others in memory of the Sandy Hook victims.

"Send those teddy bears to a school in your community or an organization that serves low income children, who are in need this holiday season, and do it in memory of our children," she said.

___

Associated Press writers Jesse Washington, Allen Breed, Chris Sullivan, Eileen Connelly, Susan Haigh and John Christoffersen contributed to this report.

Source: http://news.yahoo.com/conn-town-mourning-inundated-gifts-money-173114867.html

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Gillmor Gang Live 12.21.12. (TCTV)

Gillmor Gang - Keith Teare, Kevin Marks, Robert Scoble, John Taschek, and Steve Gillmor. Recording live today at 11:30am Pacific.

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AT AMAZON, up to 66% off in Automotive Blowout Deals?. - PJ Media

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Lincoln vet and family get new home for holidays - News, Weather ...

By: Megan Palera
mpalera@klkntv.com

A homeless Lincoln veteran and his family get a new roof over their heads just in time for the holidays.

Santa Clause traveled all the way from the North Pole to bring an early Christmas to the Mogensen's. Presents were brought in one by one and stacked high thanks the Combat Veterans Motorcycle Association, or CVMA.

"The presents are nice but for me it's really about being able to help somebody and just letting people know that other people still think about them and that they're cared about," CVMA PR Officer Ty Boyer said.

Joseph Mogensen is an army veteran who lost his job earlier this year. Unable to make rent, his family was forced to move into the People's City Mission. They stayed for five months until the VA hospital helped them find a new home. And the Motorcycle Association helped them find furnishings.

"We have 4 bedrooms, 3 levels - it's great! Backyard. The kids are very happy here," Joseph's wife, Wendy said.

Now with a fresh start, new home and new friends, the Mogensen's fell truly blessed this Christmas.

"It's nice to know that stuff like this can and still does happen in today's society," Joseph said.

"Made my kids have a great Christmas now. It's just made it wonderful," Wendy said.

Source: http://www.klkntv.com/story/20388251/lincoln-vet-and-family-get-new-home-for-holidays

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