Sunday, 29 July 2012

4for4football: Steelers won't trade Wallace http://t.co/rx6S2MAk #NFL #fantasyfootball

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Want Info On Online Business? Have A Look At These Pointers - PDF

Want Info On Online Business? Have A Look At These Pointers - PDF

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Employed by your self will often really feel a little overwhelming, but in addition rather fulfilling. Where by could you begin? What makes a house company profitable? There are plenty of queries which need addressed. Read this article to determine what kind of things you have got to focus on.

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Obama signs Israel security bill ahead of Romney visit

WASHINGTON (Reuters) - President Barack Obama signed a measure on Friday to strengthen U.S.-Israeli military ties, a move that could score points with American Jewish voters on the eve of Republican rival Mitt Romney's highly publicized visit to Israel.

Obama also used the White House bill-signing ceremony to announce he was releasing $70 million in approved funding for Israel's short-range rocket shield known as "Iron Dome," a project backed strongly by the powerful U.S. pro-Israel lobby.

His reaffirmation of an "unshakeable commitment" to Israel's security appeared timed to upstage Romney, who has accused the president of undermining Washington's relationship with its No. 1 partner in the Middle East.

The White House denied it was an election-year maneuver, even though senior administration officials have lavished attention on Israel in recent weeks.

Romney, whose Olympics-week tour of London has been plagued by diplomatic stumbles, will travel on Saturday to Jerusalem and meet on Sunday with Israeli Prime Minister Benjamin Netanyahu, who has had a strained relationship with Obama.

"I have made it a top priority for my administration to deepen cooperation with Israel across a whole spectrum of security issues," Obama said in the Oval Office.

Congress passed the legislation last week with broad support from Republicans and Obama's Democrats, but the president waited until Friday to put his signature to it.

He was flanked by U.S. Senator Barbara Boxer and Representative Howard Berman, the bill's sponsors, and several prominent Jewish leaders, including Lee Rosenberg, chairman of AIPAC, the leading pro-Israel lobby, and Richard Stone, chairman of the Conference of Presidents of Major American Jewish Organizations.

Obama, criticized by some of Israel's U.S. supporters for being too tough on a crucial ally, wants to shore up his advantage over Romney among Jewish voters, who could prove critical in battleground states like Florida and Pennsylvania in the November 6 election.

OUTREACH TO ISRAEL'S SUPPORTERS

Obama received 78 percent of the Jewish vote in the 2008 election, but a nationwide Gallup poll in June showed him down to 64 percent backing versus Romney's 29 percent.

Obama angered many Israelis and their U.S. supporters last year when he insisted any negotiations on the borders of a future Palestinian state begin on the basis of lines that existed before Israel captured the West Bank and Gaza Strip in a 1967 war. His Middle East peace efforts have stalled.

Obama visited Israel as a candidate in the 2008 campaign but has not done so as president. He has insisted security ties with Israel have never been stronger, although he has pressed Netanyahu to hold off on any attack on Iran's nuclear sites to give diplomacy and sanctions more time to work.

Romney has accused Obama of being too hard on Israel and not tough enough with Iran.

The new bill calls for enhanced cooperation with Israel, already a major beneficiary of military aid, on missile defense and intelligence, and increased access to advanced weapons.

Romney campaign spokeswoman Amanda Henneberg said the former Massachusetts governor was "happy" to see enhanced security cooperation with Israel.

"Unfortunately this bill does nothing to address ... evasiveness from the White House on whether President Obama recognizes Jerusalem as the capital of Israel, which raised doubt about the president's commitment to our closest ally in the region," she said.

The White House says Obama holds to long-standing U.S. policy that the status of Jerusalem, which Israel considers its undivided capital despite a lack of international recognition of its annexation of the Arab half of the city, be resolved in "final-status" negotiations between Israel and the Palestinians.

White House spokesman Jay Carney denied the bill signing was timed to pre-empt Romney, saying it was a scheduling matter, but adding, "I understand the coincidence."

Romney on Sunday will also meet President Shimon Peres, other top Israeli politicians and Palestinian Prime Minister Salam Fayyad, and deliver a foreign policy speech.

Assistant Secretary of State Andrew Shapiro said Washington understood Israel's anxiety about the changing situation in the Middle East and remained committed to helping it maintain its "qualitative military edge in the region."

Defense Secretary Leon Panetta will visit Israel next week to discuss heightened tensions in the region, including the escalating conflict in Syria.

(Additional reporting by Andrea Shalal-Esa; Editing by Peter Cooney)

Source: http://news.yahoo.com/obama-sign-israel-security-bill-eve-romney-visit-022214805.html

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About 70th Birthday Party Ideas HQ | Orthadox Home Blog

You may have been redirected here from an article about 70th birthday party ideas or you may have found us on a search engine or may be heard about us from a friend. Whatever the case may be if you are planning on celebrating your granddads or your grandma?s birthday then you are in the right place. We will guide you to how to have an admirable party where you have elegant decorations the perfect cake at the perfect location according to your unique taste. These articles have not just been written randomly but they all address different situations for each individual. Feel free to browse through our articles and I guarantee, you will not be dissatisfied.

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BMW's C Evolution electric scooter does 62 miles on a charge, maxes out at 75 mph

BMW's C Evolution electric scooter does 62 miles on a charge, maxes out at 75 mph

All things considered, we think it's safe to say BMW very rarely disappoints with its latest road-friendly creations, and one of the outfit's most recent concoctions is this eco-friendly C Evolution electric scooter. According to the German company, the prototype two-wheeler's quite close to hitting its final production stages, noting "it might soon become a part of everyday road traffic in cities throughout the world" and that it is "outstanding in terms of performance, functionality and design." On paper, the C Evolution appears to be rather promising, with BMW also claiming the environmental hog can ride out about 62 miles on a single charge -- all while being able to reach max speeds of around 75 mph. No word yet on how much you'll have to save up for one of these, but for now, there's a video of the C Evo in action waiting on you just past the break.

Continue reading BMW's C Evolution electric scooter does 62 miles on a charge, maxes out at 75 mph

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Sunday, 22 July 2012

The Relationship between Disaster Recovery and Virtualisation ...

(The Hosting News) ? Technological evolutions are driven by the fact that no matter how sophisticated a technology?s defence, security, productivity or efficiency measures are today, there?s always a risk that they?ll be unsuitable tomorrow.

It is this simple notion that has driven virtualisation to become one of the top disaster recovery solutions in business computing.

A catalogue of operational challenges with client-server based applications and traditional x86 server?deployments?have made enterprises question if relying on their own?physical hardware alone is really the way forward in supporting their business continuity measures.

For example, is running one application per server really efficient? Are the power and cooling requirements of these servers justifiable; considering they run at full power no matter whether they are in use or not? Are the costs associated with running ? or rebuilding ? such?complex, dedicated systems really worth it?

Most importantly, can an organisation afford the possibility of losing this business-critical resource for long periods of time, should the worst happen?

Where does Virtualisation fit in?

Virtualisation has become the answer to many of these questions, as it is generally agreed that it has the ability to save businesses money, reduce energy costs and improve the timing/quality of recoverability.

It is this point of recoverability ? ?the ability to restore a deployment to the point at which a failure occurred ? that is making the most waves within organisational business continuity.?That?s because where it might take days or weeks to get physical (hardware-based)?servers back up and running, virtualised environments take mere hours.

A 2010 Aberdeen Group Survey showed that organisations that had moved at least part of their data storage to cloud-based contingencies, such as virtualisation, recovered from downtime events almost four times faster than those with no formal cloud storage program.

This meant that the average downtime for?mid-sized businesses using cloud contingencies is around four hours, rather than 16; while for?large businesses it is around 7.7 hours, as opposed to 30.8.

Using virtualised environments, whereby a company?s physical data is mirrored elsewhere, a company can also reduce its energy use. That?s because there is less reliance on using an energy-sapping physically-stored data?server as a primary resource for its backup needs.

Organisations such as virtualisation specialist VMware claim that virtualisation could in fact create savings of 50 ? 70 per cent of a firm?s overall IT costs as businesses begin to consolidate their resources, reducing overheads in the process.

So what do businesses need to do?

The requirements of a business venturing into virtualisation are few and far between, making it a disaster recovery option that?s?near-enough available to anyone.

For example, virtualised systems are independent of their hardware and therefore can be implemented in a way that gives power to the user. Virtual components (e.g. CPU, network card, SCSI controllers) can be scaled accordingly to the desired task, even if the actual physical makeup of the host machine carries much greater processing power. To the same end, this means that?virtual machines on the same server can run different kinds of operating systems (Windows, Linux etc.).

The relationship between disaster recovery and virtualisation is even more unique because virtualised environments (or ?machines?) can work in isolation, independent from one another. This?offers the ability for three virtual machines to pick up the load in place of another that may have crashed, for example.

Knowing just what to virtualise is a different matter. In a perfect world, the hardware configuration for a disaster recovery solution should mirror the configuration of the primary system in the data centre. However,?storing a second, identical copy on another server is an expensive proposition as it will need constant power and potentially as much maintenance or supervision as the primary server.

With virtualisation on the other hand, it?s possible to have an image ? or virtual copy -?of the primary system. This will guarantee users 100 per cent recovery in a much shorter space of time, with?less manpower than it takes to rebuild a traditional data server in the event of a disaster.

Weighing up the options

Like any disaster recovery solution, the potential savings facilitated by virtualising a system must be weighed up with its total cost versus its initial outlay.

While in some cases it may well work at a ratio somewhere akin of 1:1.5, the downtimes associated with manually restoring a physical hardware?system are arguably more time consuming and expensive. It?s for these reasons ? coupled with the fact virtual backups can be kick-started remotely ? that virtualisation is taking over as the new solution?to tomorrow?s problem.

For information from Peer 1 Hosting, please visit: http://www.peer1hosting.co.uk/

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The Relationship between Disaster Recovery and Virtualisation

Source: http://www.webhostnews.co.uk/the-relationship-between-disaster-recovery-and-virtualisation/

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Saturday, 21 July 2012

Tips on Relocating to Austin ~ Part Six

?

Relocating to Austin Part 6

Before making a decision on what part of Austin?you'd like to live in, it?s important to?research?school districts for your child. ?For some,?selecting the right school district is the most important criteria in determining the community.

?

Part 6: Making an Educated Choice and Stress-free Enrollment

There are steps to selecting the right school for your child. ?Austin MetroGuide has published these 4 steps along with what you?ll need for a stress-free enrollment

1. ???? Make a Wish List
It?s important to be clear on what your child needs from a school before beginning a search. ?Is your child gifted in math or science? ?Consider a magnet program or schools that offer advanced mathematics and science programs. ?Does your child have a passion for the arts? ?Consider a performing arts academy or a school with a strong arts program. ?Does your child have special needs? Consider a school with a strong Special Education dept. and small teacher-student ratio. ?Also consider your family needs. ?If you require child care beyond the school day, look at campuses that offer an after-school program or are located close to quality day care centers. ?What are the transportation options in your new neighborhood and how far would you be willing to travel to school? ?Other factors to consider when making your list could include location, after-school programs, extracurricular offerings, average class size and type of school (private, public, charter or religious). ?After you have compiled your list decide with your family items are imperative and which are secondary. This will be helpful in narrowing down the wide variety of educational options.

2. ???? Check the Web
The internet is a great resource for researching schools especially now that you have a list of must-haves. There is a website that gives each school a rating based on standardized test scores, average class size and teacher experience compared to the state average:

http://www.austinmetroguide.com/schools. ?

Here are links to a few individual NW Austin school district websites:

Round Rock ISD: ?http://www.roundrockisd.org ???????????????????????????????????????????????????? Leander ISD: ?http://www.leanderisd.org????????????????????????????????????? ? ? ? ? ? ? ? ? ?? ??????? Austin ISD: ?http://www.austinisd.org

3. ???? Call Ahead
After you?ve made your wish list and narrowed your search on the web, you most likely have a list of 5-10 schools. ?Start calling the individual campuses and ask to speak with a grade-level counselor or principal. ?You can tell a lot about the welcoming culture of a campus in the first 10 seconds of the phone call. ?Be sure to have your wish list handy when you are speaking with faculty or staff. ?Remember to ask when would be the best time to visit the campus in person and if it would be possible to sit in on a class.

4. ???? Visit the Campus
Your Realtor? should be able to provide you with a list of campuses in the area. If a picture is worth 1,000 words, then a campus visit is worth 1,000 websites. Visiting a school in person is an invaluable way to determine the best school for your family. ?Don?t be shy ? ask for a tour, ask to see a classroom on a typical school day, ask to drop by the cafeteria at lunch. Notice if there is adequate supervision in the hallways and in the lunchroom. ?Observe how adults handle misbehavior and take note of the number of positive and negative interactions between adults and students. Once you have found the perfect school for your child, remember to ask how you can be involved on campus through volunteering or PTA.

How to have a Stress-Free Enrollment:

Be clear on the paperwork required to enroll your child at his/her new school. The following information is for new students to Round Rock ISD, other districts may have different paperwork requirements. ?Please check the district websites or call ahead.

All Students new to Round Rock ISD should provide the following information at the time of registration:

1. ???? Birth certificate
2. ???? Immunizations record (immunization requirements)
3. ???? Proof of residence in the school district

?- Lease agreement, if renting

?- contract of sale or a tax statement, if purchasing

?- current utility bill indicating the address and the adult?s name

4.??? Last report card or withdrawal form from previous school district
5.??? Social Security number

I offer years of experience helping families relocate to the NW Austin area. If you haven?t chosen a Realtor?, I would love the opportunity to earn your business and exceed ?your expectations.
?
Previous Tips:

Part 5: Title Insurance
Part 4: Homestead Exemption
Part 3: Community Property
Part 2: Home Warranty
Part 1: Moving Checklist

I offer years of experience helping families relocate to the NW Austin area. If you haven?t chosen a Realtor?, I would love the opportunity to earn your business and exceed your expectations.

Search for homes in NW Austin

?WE ARE ALWAYS HERE TO ASSIST YOU!?no matter where you are, we are just a click away

?

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20 Comments on Tips on Relocating to Austin ~ Part Six

?

Dorie Dillard Realtor? Canyon Creek NW Austin TX homes for sale

Austin, TX

More about me?

Coldwell Banker United Realtors

Address: 9442 N. Capital TX Highway, Plaza Two Suite 150, Austin, TX, 78759

Office Phone: (512) 346-1799

Email Me

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Friday, 20 July 2012

New York Modeling Agencies - A Deep Insight for the Glitz and ...

* Once you see models walking down the ramp with each of the flare, grace and style you feel that it's a basic job along with the models merely need to stroll in flashy clothes and make up but the real planet is far away from the reel planet.

* Even walking in a way like a model walk with complete grace and confidence in front of an enormous audience is a very challenging activity to do.

* Anybody is usually stunning but only several folks can carry off everything from jeans, gowns, and maxis, swim suits to other experimental and innovative clothes.

* Even a slight scar in your face or possibly a handful of additional pounds on your body can cost you heavy. In some cases models must modify a number of outfits in a single show and they merely get a number of seconds to alter their whole look.

* The Models are loaded with all the heavy makeup and heavy hair types which they have to carry all day and adjust numerous times within a day.

* You could make your mark inside the style planet only if you are 6 ft. Tall and merely 130 pounds.

* You'll be able to begin your career using the neighborhood agencies. Do not beneath estimate local agencies as they are superior for novices. You can take as several snap shots of yours in distinctive outfits and ambience and make a mesmerizing collection of one's photographs. You can ask for support from your pals who have an interest in photography or employ an expert photographer to click some awesome natural images of yours on beaches and all-natural environment due to the fact Modeling agencies New York enjoy natural images. It is best to make an effort to showcase your talent in these photographs by displaying off your assets and making greatest use of the physique language. You ought to be versatile and in a position to give any form of expressions. You'll be able to give some quantity of cash because the instruction fee to the local agencies and understand walking capabilities, make up abilities, body language, diet program and etiquettes.


* The next step will be to big and attempt yourself at many of the most prestigious New York Modeling agencies like Elite, DNA, next, Ford, NY models and IMG. You'll be working with the major most designers and also you will sign contracts with the leading most brands of America. These agencies have transformed the life of a lot of talented models and they can offer you a lavishing life-style in which you are going to be travelling different countries around the globe, Operate with film stars, and you'll get to wear planet class designer clothes. You may see your page spreads in classy magazines and you may well even get offers for films and brand endorsements.

Source: http://www.artipot.com/articles/1304116/new-york-modeling-agencies-a-deep-insight-for-the-glitz-and-glamour-on-the-style-planet.htm

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Bristol-Myers drug fails liver cancer trial

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Source: http://news.yahoo.com/bristol-myers-drug-fails-liver-cancer-trial-211357360--finance.html

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Strategies for People Intending to Form a Nevada LLC or Corporation

This article has been viewed 9 times.

Starting a business enterprise can be rewarding but it may come with a few dangers. Putting up a corporation can be quite a flexible choice. In case you desire to get a less formal yet equally versatile alternative, an LLC may be advisable. Keep reading to learn more regarding forming Nevada Llc or corporation.

What is an LLC?

A Limited Liability Company or LLC is a business model that mixes the limited liability characteristic of a corporation along with the operational flexibility of a partnership. The majority of LLCs call its partners ?members.? The members benefit from it while keeping small business setups. A lot like a partnership or proprietorship, they also report earnings and losses on their individual tax returns. Members also have protection from personal liability. They aren?t liable for any company debts just like a corporation.

When the company encounters legal difficulty, simply the assets belonging to the company are at risk. The credit firms cannot go after the personal properties of the Nevada LLC members. This function is the reason why many folks today are thinking about starting an LLC.

What is a Corporation?

A corporation is a business entity, which is granted nearly all the legal rights or an actual person. It can be comprised of an individual person (sole corporation) or perhaps a group (aggregate corporation).

These kinds of business entities exist as fictitious or virtual persons, providing limited liability to the actual folks working in the business. This limited liability is amongst the top attributes of incorporating. This is why a lot of small businesses choose to form a corporation Nevada.

How do they differ?

If sole proprietorship feels like a risk, you might want to look into the advantages of incorporation. As the corporation is considered a separate legal entity, your house, vehicle, savings, as well as other personal assets are safe from the lenders and collection agencies.

Just like a corporation, you are not personally responsible for the company?s debts, damages, and liabilities when you?re in an LLC. The main benefit is decreased taxation. You get taxed as being the business proprietor, but you can benefit from being exempted on corporate taxes. You are paying once, as opposed to being taxed twice.

With regards to ownership, incorporation owners are called shareholders, the equivalent of members in an LLC. When a member dies or files for bankruptcy, the company ?dies? with the situation. It normally depends upon the legal and advance agreements. On the other hand, when a shareholder dies or leaves, the company can continue its operations. This is because its setup allows for shareholder transferability. Simply because they have full discretion on this, they don?t have to consult with others whenever they want to transfer their shares.

Whether you wish to form LLC Arizona or Nevada LLC, many companies today offer document filing services so that you can have a quick start in this particular undertaking. These kinds of companies can be beneficial when it is your first time and you don?t have enough time to comply with the requirements.

Forming an LLC online is much easier with the help of such service providers. Start searching on the internet for reputable firms that can provide the services.

Source: http://www.article-i.com/business/strategies-for-people-intending-to-form-a-nevada-llc-or-corporation/

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Hootsuite, Google+ Sayfalar deste?ini art?rd?

Yay?n hayat?na ba?lad???nda Twitter i?in ???nc? parti bir istemci olarak tan?nan Hootsuite, Facebook, Instagram, LinkedIn gibi a?lar? da kapsama alan?na almas?yla yelpazesini olduk?a geni?letmi?ti. Uygulama Google+ Sayfalar k?s?tlamalar?n? bug?n kald?rd???n? duyurdu.

Google ile yap?lan ortakl?k neticesinde Hootsuite kullan?c?lar? Google+ sayfalar?n? uygulama ?zerinden y?netebiliyordu. Ancak Google, uygulamaya sadece 200 sayfan?n y?netim hakk?n? tan?m??t?. Google ile s?k? pazarl??a oturan Hootsuite, bu limiti de kald?rd?.

A??r? talep nedeniyle ?zellikle i?letme sahibi kullan?c?lara cevap vermekte zorlanan Hootsuite, s?n?rlar?n kald?r?lmas?yla rahat bir nefes ald?. Ancak halen daha Google+ profillerinin Hootsuite ?zerinden y?netilmesine izin verilmiyor.

Hootsuite talepleri dikkate alarak yava? yava? Google+ sayfalar?n?n y?netim imkan?n? kullan?c?lar?na sunmaya ba?layacak.

?

Source: http://www.donanimhaber.com/Hootsuite_Google_Sayfalar_destegini_artirdi-34881.htm

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Thursday, 19 July 2012

Veggie palta rellena ? Why avocados are a staple food in my family ...

Avocado?is the most popular ingredient in my family?s kitchen. All throughout my childhood and teenage years, up until today, I eat an avocado almost every day. I have introduced this habit to roommates while living in Spain, England and the US, and although it seemed a bit odd at first, they all warmed up to the idea (and taste), and never looked back.

Of course, it?s not only my family who eats avocados so often. If you remember our post ?13 ways to eat like a Peruvian,? point #6 was this:

?Somehow, someway, get palta (avocado) into your meals. Avocados with bread, as part of salads, with rice, stuffed with chicken, tuna, shrimps, cebiche, or vegetables? Avocados with mayonnaise as a dip for teque?os? What would we do without our beloved (and may I say, delicious) paltas??

In Peru, and in Latin America in general, avocados are so tasty, creamy, ripe and perfect year round, that it?s hard to resist their allure. They?re also filling, nutritious, and easy to make and eat (just cut them in half and sprinkle with salt). And it?s a veggie (even though technically it?s a fruit) that kids love too, so it?s an ideal?healthy snack to pop into their school lunch boxes.

But even as much as Peruvians?are crazy about?avocados, Central Americans and Mexicans are really the kings and queens of this oily and rich gift of nature. After all, the world?s first avocado was grown and cultivated in Mexico countless generations ago, and the region has fertile volcanic soil, and an ideal climate for its cultivation.

Looking at the cool Avocados from Mexico page, and at their recipes inEnglishand Spanish, I decided to make another palta rellena today for lunch, but this time, with vegetables instead of shrimp. I love eating stuffed avocados as an appetizer or light dinner, especially in the summer months when I can play with all kinds of raw fillings. What about you? Is avocado a staple in your family? We would love to know and get your favorite avocado recipes!

*This is a sponsored post in collaboration with?Latina Bloggers Connect?and Avocados from Mexico, however all the comments and opinions in the post are our own.

Vegetarian Palta Rellena

Recipe type: Appetizer

Author: Peru Delights

Prep time: 30 mins

Cook time: 20 mins

Total time: 50 mins

Serves: 2

  • 2 avocados, cut in half, peeled and seeded
  • 1 potato
  • 1 carrot
  • 1 beet
  • 1/2 cup green peas, cooked
  • 1/3 cup mayonnaise
  • Salt and pepper
  • 1/2 cup herbs (parsley, chives, etc.)
  • 1/2 cup grape tomatoes
  • Olive oil
  1. First of all cook the vegetables. I like to cook them in different saucepans, so each one retains its color, flavor and texture. Boil them in water, peel them and cut in medium dice. I like mine a little chunky, so I cut my vegetables in big cubes.
  2. Combine in a bowl with the green peas, mayonnaise, salt, and pepper. If you like you may want to add some hot Tabasco sauce or a touch of ketchup.
  3. In a small bowl, make an herb salad with parsley, chives, and any other herb you have in hand, grape tomatoes cut in half, salt, and a few drops olive oil.

2.2.6

?

Source: http://perudelights.com/veggie-palta-rellena-why-avocados-are-a-staple-food-in-my-family%C2%B4s-kitchen/

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Agriculture land for lease /Rent or Business venture 100km from ...

Hello

If anybody looking for agriculture land for lease/rent or for any other purpose at around 100km from bangalore region. Please contact me to know further details .

Land type : Agriculture land
Dimension :5 acre
Soil type : fertile Red soil
Location : Koratagere taluk (Karnataka)
Bore well : Available
Electricity: Available
Drip irrigation: Available
Temporary House: Available

I can provide you more details and photos .

Other than above parties interested to start joint business venture related agriculture are welcome to contact me to establish the business with 50-50 partnerships.

Regards
Shivakumar


Last edited by moderator A; 15 Hours Ago at 07:33 AM. Reason: only business members are allowed to post contact info. please click My Account to upgrade

Source: http://www.agricultureinformation.com/forums/farm-lands/90364-agriculture-land-lease-rent-business-venture-100km-bangalore.html

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Corporations back in buying game - Real Estate Weekly

By Sarah Trefethen

The way money is flowing these days, corporate tenants may be asking: why rent if you can buy?

With lenders less enthused by real estate investment than they are by well-heeled corporate borrowers, some experts say, the interest, taxes and maintenance fees that an owner-occupier would pay for office or retail space in Manhattan stack up favorably against commercial rents.

Michael Rotchford

?It?s a cyclical situation,? said Michael Rotchford, Cushman and Wakefield?s head of corporate finance and investment banking. ?In certain times in the real estate cycle matched up to the capital cycle it becomes much more affordable for corporations to buy real estate.?

The effect of this alignment of the financial stars may be seen in recent deals, from fashion retailer Zara?s purchase last year of its 38,750 s/f retail condo at 666 Fifth Ave, to the Federal Reserve?s decision to purchase 33 Maiden Lane, (where it has offices,) to Google?s building on Eighth Avenue and the recent announcement that Gary Barnett?s Extell Development Company has struck a 285,000 s/f deal with the department store Nordstrom?s to kickstart the developer?s planned mixed-use project on 57th Street on the West Side.

Robert Futterman

?It?s not exactly a new thing outside the city. Stores like Walmart and Nordstrom are used to owning,? said Robert Futterman of RKF, who represented Extell in the deal. ?If you look at a Target-anchored shopping center, Target probably owns its pad.? International companies are also more likely to want to own their space, according to Futterman. Fashion retailer Etro owns its spaces on Madison Avenue and in Soho, he said.
?They believe their costs are less than if they leased,? Futterman said. ?And if they can get their money out of Italy and invest it in Manhattan real estate, that can?t be a bad deal.?

Ownership may be on the increase, Futterman said, though he doubted it would ever amount to more than 10 percent of the Manhattan retail market.

?Many of these companies do not want the liability of ownership,? he said.

Andrew Scandalios

Not everyone is convinced that examples like Nordstrom, Google and the Fed are part of a trend rather than isolated cases.

?I always think of it more as control rather than cost of capital in those cases,? said Andrew Scandalios, a senior managing director at the mortgage banking firm HFF.

It?s easier to finance real estate in Manhattan than other places in the country, Scandalios said, and he estimates the universe of companies who would find it cheaper to buy than to lease in this market is actually small. But others say supply is the main factor limiting owner occupancy of commercial condos. ?There would be more sales if there were more availability,? said Michael Rudder of Rudder Property Group, a broker who specializes in commercial condos. ?There?s a ton of demand from all sorts of companies out there.?

Michael Rudder

In New York, office condos make up just two percent of office space, Rudder said. According to Rudder Property Group?s mid-year report, availability in the city?s 9.09 million square feet of office condos is 11.8 percent. But 50 percent of that available space is concentrated in just two buildings ? 190,000 s/f in Extell?s Gem Tower in midtown, and at 40 Rector Street in the financial district. By the end of the year, Rudder anticipates a marked drop in amount of available space.

All this may add up to dawn of a construction boom.

While the city?s landlords are unlikely to run out to perform condo conversions on assets that in some cases have been in the family for generations, Rotchford and Rudder agree that the time is ripe for developers to turn to commercial condos to get new projects off the ground.

As an example of what?s possible, Rotchford suggests looking along Sixth Avenue between 48th and 54th streets. RCA commissioned 30 Rockefeller Plaza in the 1930s, and a few decades later the Exxon Building went up across the street. Other companies that dabbled in development in the area included McGraw Hill, Sperry Rand, Time Inc, the U.S. Rubber Company and television network ABC.

?If you think about Sixth Avenue from the 1930s to the late 1980s, it wasn?t all a lot of big beautiful buildings. What got those buildings built were the corporations,? he said.

Rotchford predicts the current financial climate is ?going to be helpful for development because there are going to be corporations that are willing to commit, because that?s a way for them to get an ownership interest in the building.?

That?s what happened for Extell with the Nordstrom deal, and Coach?s 600,000 s/f purchase in the Hudson Yards development last November. And with big names like Microsoft and Facebook said to be looking to expand their presence in New York, some experts hope those deals are the beginning of a trend.

?If we can get a critical mass of corporations, we can really change the West Side,? Rotchford said.

And while Scandalios still maintains that in most Manhattan submarkets it?s probably still cheaper to lease than to buy, he?s not out to discourage developers from marketing commercial condos.

?In the case of new development like in Hudson Yards and things of that nature, where tenants want to control their environment and it makes it easier if they?re part of the capital structure to finance, I can see that,? he said. ?Because it is difficult to finance spec? office buildings, even in Manhattan.?

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Source: http://www.rew-online.com/2012/07/18/corporations-back-in-buying-game/

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