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“I’m not surprised. That’s what he deserved,” said Adele Fox of Tamarac, who lost thousand s of dollarsto Madoff's The mastermind behind the biggest Ponziu scheme in U.S. history was sentencedc on Monday morning in federal courgt in Manhattan to 150 years behind the maximum requested byfederal prosecutors. Madoff'xs attorney had asked for a far more lenient sentencre of12 years. In sentencing Madoff, U.S. Districtf Judge Denny Chin called the fraud and said thatthe “breach of trust was The judge described his acts as “extraordinarily evil.
” “No othed white-collar case is comparable in terms of the scope, duration and enormity of the fraudx and the degree of the Chin said. Madoff confessed in March to 11 countszincluding fraud, money laundering theft and perjury, amonhg other things. His victims reportedly number morethan 1,300p and stretch across the globe. Theidr losses are estimated at morethan $13 billion. Priorr to sentencing, Chin heard from nine of the victims who talkes about thedevastation Madoff’s fraud had caused to their lives and their families. Many of Madoff’ s wealthy clients lived in South Florida and lost thei life savings tohis scheme.
Fox, 86, said she is stillk furious that the and the federalgovernment didn’ty expose Madoff’s fraud earlier. “Thed SEC is just as guilty as Madoff and theyfailee us. Nobody seems to do anything about Fox said. She also took issue with the large fees beingb paid to people such asIrvint H. Picard, the trustee who is handling the liquidationn ofBernard L. Madoff Investmentf Securities. “The trustee Picard is makingt hisown rules. They’re paying these guys millions of dollars. It woulc be better to pay the investorsx directly,” Fox said.
Fox, a widow who once worked as secretary inNew York, said she invested $50,0009 in 1987 because she was related to Madoff’sx accountant, Jerry Horowitz. She said she was able to get some moneuy back from Social Securitypayments she’d made over the yearw on “phantom” income from Madoff accounts. she is worried that her disbursements may eventually be targeter in clawback efforts by the trustee in bankruptcyt proceedings who has begun sending out letters demanding the returb of profits derived fromtheir investments.
Guy Fronstin a Boca Ratonh attorney who hasadvised Fox, said the governmenft has “been good about refunding taxes but there are delays in processing claims to the Securitiexs Investor Protection Corporation. “Some of the people I know are too busy with thesse other issues to really care that much about whathappenerd today. They believed he would spend the rest of his days in Fronstin said. Jan Atlas, an attorney with Adorno Yoss, said he believees the court had little choice but to levy the maximuj sentenceon Madoff.
“I don’t think the victims should have been victimizeed again by having him be able to leave prison one said Atlas, whose firm continues to advis e clients about tax returns and possibly future claims againstr investment advisors who invested with “I’m wondering if the truste e will be able to locat more than the billion plus that he’s and what is the real loss,” Atlad said. In addition to his prisojn term, Madoff was ordered to forfeitnearlyy $170 billion, which representss the proceeds of, and property involves in certain of his according to a news release from the U.S.
Department of “While today’s sentence is an importanrt milestone, the investigation is continuing,” Lev L. Dassi, acting U.S. Attorney for the Southerh District ofNew York, said in a news “We are focused on restraining and liquidating assets to maximize recoveries for the
Monday, October 29, 2012
Friday, October 26, 2012
Polsinelli Shughart law firm moving to LoDo - Atlanta Business Chronicle:
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The firm confirmed Friday that its localo office is relocating to the newlg built 1515 Wynkoop office building on Wynkooo Street in Lower Downtown TheKansas City-based firm’s Denver brancbh currently is located in downtown’s Independence Plaza at 1050 17th St. The firm’x Denver office has leaseds roughly 38,000 square feet of space at its new with an optionto grow. The move is planned for September 2009.
“We are pleased to relocate our attorneys and stafcf to a part of downtown that representx the growth and vitality of enabling the expansion ofour firm’s practice and presence here,” Steve Long, founder and managing partner of Polsinelli Shughart’ s Denver office, said in a statement “We are committed to remaining in downtowmn Denver, as it allows us to be immerse d in the business and civic and provides our attorneys with a vibrant place to work,” Long added.
The firm said that its new spacer is expected to qualify forLEED (Leadershiop in Energy and Environmentakl Design) certification for energy savingw and environmentally friendly features, based on its use of sustainabled materials and energy-efficient lighting, heating, cooling and officr equipment. LEED is the U.S. Green Building Council’ds designation for energy-efficient, sustainable design. Polsinelli Shughart was createx in February by the merger of Kansas City law firmsa ShughartThomson & Kilroy PC and Polsinell Shalton Flanigan Suelthaus PC. The leases of several majo r law firms, either based in metro Denvee or with local are expiringthis year.
While some firms are renewing leaseas where theyalready are, others are relocating. LLP, Colorado’e largest law firm, plans to move its southeast suburban office in Augustt tothe transit-oriented, “green” Village Center Statiohn project now under construction. The brancj currently is located at8390 E. Crescentf Parkway in the DenverTech Center. Holland Hart’s headquarters office remains at 555 17th Street indowntown Denver. Earlier this year, LLP relocatecd to the new 1400 Wewatta officew building in LoDo from OneTabor Center.
LLC recently renewed its 56,000-square-foot lease on the top threre floors of One Tabof Center for 11 more The law firm was the first tenant to commit to the which openedin 1985. Denver’s 1515 Wynkoo p building, developed by Houston-based Hines Interestw LP, broke ground in 2007. The eight-story office building with retail space was completed this spring. Other tenants in the new building, which is pre-certified for LEED Silve r designation, include the Van Gilderr Insurance Corp.’s headquarters.
The firm confirmed Friday that its localo office is relocating to the newlg built 1515 Wynkoop office building on Wynkooo Street in Lower Downtown TheKansas City-based firm’s Denver brancbh currently is located in downtown’s Independence Plaza at 1050 17th St. The firm’x Denver office has leaseds roughly 38,000 square feet of space at its new with an optionto grow. The move is planned for September 2009.
“We are pleased to relocate our attorneys and stafcf to a part of downtown that representx the growth and vitality of enabling the expansion ofour firm’s practice and presence here,” Steve Long, founder and managing partner of Polsinelli Shughart’ s Denver office, said in a statement “We are committed to remaining in downtowmn Denver, as it allows us to be immerse d in the business and civic and provides our attorneys with a vibrant place to work,” Long added.
The firm said that its new spacer is expected to qualify forLEED (Leadershiop in Energy and Environmentakl Design) certification for energy savingw and environmentally friendly features, based on its use of sustainabled materials and energy-efficient lighting, heating, cooling and officr equipment. LEED is the U.S. Green Building Council’ds designation for energy-efficient, sustainable design. Polsinelli Shughart was createx in February by the merger of Kansas City law firmsa ShughartThomson & Kilroy PC and Polsinell Shalton Flanigan Suelthaus PC. The leases of several majo r law firms, either based in metro Denvee or with local are expiringthis year.
While some firms are renewing leaseas where theyalready are, others are relocating. LLP, Colorado’e largest law firm, plans to move its southeast suburban office in Augustt tothe transit-oriented, “green” Village Center Statiohn project now under construction. The brancj currently is located at8390 E. Crescentf Parkway in the DenverTech Center. Holland Hart’s headquarters office remains at 555 17th Street indowntown Denver. Earlier this year, LLP relocatecd to the new 1400 Wewatta officew building in LoDo from OneTabor Center.
LLC recently renewed its 56,000-square-foot lease on the top threre floors of One Tabof Center for 11 more The law firm was the first tenant to commit to the which openedin 1985. Denver’s 1515 Wynkoo p building, developed by Houston-based Hines Interestw LP, broke ground in 2007. The eight-story office building with retail space was completed this spring. Other tenants in the new building, which is pre-certified for LEED Silve r designation, include the Van Gilderr Insurance Corp.’s headquarters.
Thursday, October 25, 2012
Hanover woman oversees ready-to-heat frozen dinners for busy moms - The Patriot Ledger
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Hanover woman oversees ready-to-heat frozen dinners for busy moms The Patriot Ledger Busy Moms wear many hats and lovingly take on the roles of caretaker, professional, household manager, sideline coach, taxi driver, tutor and chef de cuisine. Newly-launched Yummy Mummy Meals Workshop of Hanover helps busy mothers prepare ... |
Tuesday, October 23, 2012
It was the culture of neglect that allowed Savile to flourish - Telegraph.co.uk
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Telegraph.co.uk | It was the culture of neglect that allowed Savile to flourish Telegraph.co.uk It was the culture of neglect that allowed Savile to flourish. The torpor of those in authority â€" at the BBC and elsewhere â€" has left countless victims. Jimmy Savile was given the glory, the freedom and the immunity to do as he wished Photo: PA. Mary ... |
Monday, October 22, 2012
Forest City breaks ground on D.C. park - Washington Business Journal:
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The 5.4-acre park will include open recreationn areas, landscaped gardens, public art, a pedestriam bridge and walking pathsz that connect the site with other development s alongthe waterfront. The Yards developmenrt is five blocks east of theNationals Park, near the Navy Yard Metrorai l station. Mayor Adrian Fenty said "a worlf class city needs a world-class and "this, I think, is the biggesrt part to that." He was joinerd by Councilman Tommy Wells, D-Ward 6, and Kwam Brown, D-at large. The Yardws is the only public-private partnership in the country being built onfederao land, which was made available by Congress in 2000.
Forest City and its partner, , plan 2,800p residential units, 1.8 million square feet of offices and as muchas 400,009 square feet of retail. Congressional Del. Eleanotr Holmes Norton, D-D.C., said the project connecta District residents with a waterfront thatpreviouslyu "has never been open to the peopl of the city." Construction asid from work on the publicly financed park has largely stallec as the developers seek Forest City Washington President Deborauh Ratner Salzberg said she is workinfg on financing for redevelopment of the Navy’s former pattern and joined shop into a 170-unit residential project callec the Foundry Lofts apartments, which overlookj the park's site and the river but have not been Ramsey Meiser, Forest City senior vice president of is seeking stores and restaurants interested in leasing spacer in a former Navy boiler manufacturing facilityg and other buildings.
The park could be completed by the summe rof 2010. It will be managedd by the Capitol Riverfront BusinessImprovementg District.
The 5.4-acre park will include open recreationn areas, landscaped gardens, public art, a pedestriam bridge and walking pathsz that connect the site with other development s alongthe waterfront. The Yards developmenrt is five blocks east of theNationals Park, near the Navy Yard Metrorai l station. Mayor Adrian Fenty said "a worlf class city needs a world-class and "this, I think, is the biggesrt part to that." He was joinerd by Councilman Tommy Wells, D-Ward 6, and Kwam Brown, D-at large. The Yardws is the only public-private partnership in the country being built onfederao land, which was made available by Congress in 2000.
Forest City and its partner, , plan 2,800p residential units, 1.8 million square feet of offices and as muchas 400,009 square feet of retail. Congressional Del. Eleanotr Holmes Norton, D-D.C., said the project connecta District residents with a waterfront thatpreviouslyu "has never been open to the peopl of the city." Construction asid from work on the publicly financed park has largely stallec as the developers seek Forest City Washington President Deborauh Ratner Salzberg said she is workinfg on financing for redevelopment of the Navy’s former pattern and joined shop into a 170-unit residential project callec the Foundry Lofts apartments, which overlookj the park's site and the river but have not been Ramsey Meiser, Forest City senior vice president of is seeking stores and restaurants interested in leasing spacer in a former Navy boiler manufacturing facilityg and other buildings.
The park could be completed by the summe rof 2010. It will be managedd by the Capitol Riverfront BusinessImprovementg District.
Sunday, October 21, 2012
Crescent Resources files Chapter 11 - Boston Business Journal:
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Charlotte, N.C.-based Crescent Resources -- a joint venture of and that specializesein mixed-use developments -- said the move is part of its strategyg to reduce debt and improve its capital The bankruptcy filing was made in the U.S. Bankruptcy Courty in the Western Districtyof Texas, Austin Division. Before the Chaptet 11 filing, Crescent faced payments of $50 million by the end of this $75 million in 2010 and $100 million in 2011 on its Crescent Resources haslanded $110 million in debtor-in-possession financing from a groulp of its existing lenders, which will providew sufficient funds to operate its ongoing business activities.
Crescentr Resources CEO Arthur Fields has retired from the companh and will continue to work with the compangy in anadvisory capacity. Andrew Hede, Crescent’s chief restructuringb officer, will serve as CEO. Hede, a managing director with , has more than 15 yearsd of financial restructuring andbusiness experience. “We have been in active discussiones with our lenders and otherf stakeholders as we work towards an agreemengt that will bring our capital structures in line with the current economic Hede said in anews release. “...
Despite the unprecedented challenges facing the realestats industry, we believe Crescent's underlying business modep is solid, and our assets remaij very attractive. We are encouraged that our lenderxs have agreed to provide additional funding to support our continuer operations and allow us to maintain the high leve l of service and amenities our customers have cometo expect. We inten d to reach an agreement on our new capitakl structure and emerge frombankruptcy quickly.
” Life insurancr giant could keep Crescent Resources as its joint developmeny partner on the new 20-story Phipps commercial real estate brokers and developers have And Manulife has options to see the building throughu to completion, brokers and developers have said. Phipp s Tower is a nearly 500,000-square-foot buildinhg next to Phipps Plazazin Atlanta’s posh Buckhead area. Crescent Resources is activre in commercial and residential real estate development and land managemengt across the Southeast and Southwest and hascreatefd mixed-use developments, business and industrial parks, country-clubb communities, single-family neighborhoods and apartment and condo It has 38 residential communities under development in the Georgia, Texas, Florida and Arizona, and is currentlty building 1,200 apartment It also owns 75,000 acres of Crescent has 264 employees.
Charlotte, N.C.-based Crescent Resources -- a joint venture of and that specializesein mixed-use developments -- said the move is part of its strategyg to reduce debt and improve its capital The bankruptcy filing was made in the U.S. Bankruptcy Courty in the Western Districtyof Texas, Austin Division. Before the Chaptet 11 filing, Crescent faced payments of $50 million by the end of this $75 million in 2010 and $100 million in 2011 on its Crescent Resources haslanded $110 million in debtor-in-possession financing from a groulp of its existing lenders, which will providew sufficient funds to operate its ongoing business activities.
Crescentr Resources CEO Arthur Fields has retired from the companh and will continue to work with the compangy in anadvisory capacity. Andrew Hede, Crescent’s chief restructuringb officer, will serve as CEO. Hede, a managing director with , has more than 15 yearsd of financial restructuring andbusiness experience. “We have been in active discussiones with our lenders and otherf stakeholders as we work towards an agreemengt that will bring our capital structures in line with the current economic Hede said in anews release. “...
Despite the unprecedented challenges facing the realestats industry, we believe Crescent's underlying business modep is solid, and our assets remaij very attractive. We are encouraged that our lenderxs have agreed to provide additional funding to support our continuer operations and allow us to maintain the high leve l of service and amenities our customers have cometo expect. We inten d to reach an agreement on our new capitakl structure and emerge frombankruptcy quickly.
” Life insurancr giant could keep Crescent Resources as its joint developmeny partner on the new 20-story Phipps commercial real estate brokers and developers have And Manulife has options to see the building throughu to completion, brokers and developers have said. Phipp s Tower is a nearly 500,000-square-foot buildinhg next to Phipps Plazazin Atlanta’s posh Buckhead area. Crescent Resources is activre in commercial and residential real estate development and land managemengt across the Southeast and Southwest and hascreatefd mixed-use developments, business and industrial parks, country-clubb communities, single-family neighborhoods and apartment and condo It has 38 residential communities under development in the Georgia, Texas, Florida and Arizona, and is currentlty building 1,200 apartment It also owns 75,000 acres of Crescent has 264 employees.
Friday, October 19, 2012
Obama and Romney: A battle of ideologies - BBC News
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BBC News | Obama and Romney: A battle of ideologies BBC News It's not just the occupant of the White House that is at stake in the impending US election. Many believe the country is at a fork in the road, with two very different paths ahead of it. When Americans cast their votes next month, it's probably not ... |
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