Bridge Stone Retail Operations LLC recently celebrated the 80th anniversary of the Firestone Complete Auto Care store in Riverside. The anniversary event began Nov. 20 with a recognition ceremony with BSRO executives and local community members. The public celebration continued throughout the weekend with raffles, prizes, refreshments, discounted services and family fun activities, according to a news release.
Susan Pennington, a financial adviser for financial services firm Edward Jones, is inviting the community to attend a holiday open house at her office on Dec. 10. The event begins at 5 p.m. at 8744 19th St., Rancho Cucamonga. Light refreshments will be served. Information: (909) 941-6785
According to statistics compiled by the Construction Industry Research Board home builders nationwide pulled permits for 2,815 housing units in October, down 6 percent from September and down 33 percent from October 2008. The data show permits pulled for single-family homes in October dropped 9 percent from September to 2,017, which is 14 percent lower than the same period last year. The report found multifamily permits totalled 798, up 5 percent from the previous month, and down 57 percent from a year ago. During the first 10 months of the year, permits were pulled for 29,901 units, down 46 percent from the same period last year when 55,632 permits had been issued. Single-family units were down 30 percent while multifamily units were down 64 percent. CIRB is forecasting permits will be pulled for just 36,000 total units in 2009, which would be the lowest total on record.
The California Energy Commission has awarded a $1 million grant to the UC Riverside College of Engineering-Center for Environmental Research and Technology to "build a process demonstration unit to convert biosolids to clean synthetic diesel fuel."
The Chino Valley Chamber of Commerce will hold its annual Holiday Luncheon and Silent Auction on Thursday at the Western Hills Golf & Country Club, 1800 Carbon Canyon Road, Chino Hills. A portion of the proceeds from the silent auction will benefit Chino Neighborhood House and Caring for the Hills. Cost: $40 per person. Participants are asked to bring a new, unwrapped toy for distribution to Chino Valley children. The chamber also is still seeking items for auction as well as sponsorships. Information: (909) 627-6177.
The California Credit Union League, based in Ontario, has approved an assessment on member credit unions for continuing a public advocacy program. According to an article in the Credit Union Journal, the assessment was slashed by 83 percent from 2007 in response to worsening economic conditions. The proposed assessment for 2010 was reduced again. "Spending on the 2010 version of the public advocacy campaign has been reduced to $1 million from $6 million and from paid media to earned media," according to the report.
Construction of new homes in California continued to decline in October, prompting California homebuilders to call on state lawmakers to re-examine the benefits of the state new-home buyer tax credit enacted earlier this year, according to a news release by California Building Industry Association, the state's largest homebuilder trade association. "According to statistics compiled by the Construction Industry Research Board, homebuilders pulled permits for 2,815 total housing units in October, down 6 percent from September, and down 33 percent from October 2008," it states. "Permits for single-family homes totaled 2,017, down 9 percent from the previous month and down 14 percent from same period last year, while multifamily permits totaled 798, up 5 percent from September but down 57 percent from a year ago."
Susan Pennington, a local financial adviser with Edward Jones, a financial consulting firm, is inviting the community to attend a holiday open house at 5 p.m. on Dec. 10, at 8744 19th St., in Rancho Cucamonga, according to a news release. "We ... would like to express our appreciation for the confidence and support we receive year-round," Pennington said in the release. Light refreshments will be served. For more information, call Pennington at (909) 941-6785.
Import cargo volume at the nation's major retail container ports, including the ports of Los Angeles and Long Beach, "could see its first year-over-year increases in more than two years beginning in early 2010," according to a report mentioned in a news release by National Retail Federation. A large portion of the Inland Empire's logistics business sector depends on exports and imports at the ports. "This could be the turnaround we've been waiting to see for a long time," said Jonathan Gold, NRF vice president for supply chain and customs policy, in the release. "There's not enough data yet to establish a clear trend, but we're hopeful that this is a sign of recovery."
Wells Fargo & Co. has announced that its Southern California team members, which include staff in San Bernardino and Riverside counties, pledged $589,000 to 980 local nonprofit organizations and schools through its annual Community Support and United Way Campaign, according to a news release. "This was the company's most green campaign to date, with nearly 100 percent of all pledges made online and the elimination of nearly all print marketing materials," it states. Companywide, team members donated $41.9 million to more than 25,000 nonprofits and schools through the campaign, which was a 21 percent increase over the combined Wells Fargo and Wachovia campaigns last year. Wells Fargo owns Wachovia. Overall, more than 160,000 team members participated in the campaign in some way.
National home prices, including distressed sales, dropped 9.8 percent in September compared to September 2008, according to a report by Santa Ana-based First American CoreLogic. "This was an improvement over August's year-over-year price decline of 11.1 percent," the report says. "On a month-over-month basis, however, national home prices declined by 0.4 percent in September 2009 compared to August 2009, reversing a five-month trend of positive appreciation. The August-to-September decline suggests the return of seasonal housing price patterns."
WesCorp Credit Union has shown up on the radar again after its failure earlier this year. A lawsuit has been filed by several California credit unions against former executives who worked at the San Dimas-based corporate credit union, according to The Credit Union Journal, a trade publication. The suit alleges that several credit unions have been forced to pay special fees by their regulator, the National Credit Union Administration, to make up for its national fund that absorbs failing credit union losses. WesCorp was saddled with billions in losses stemming from mortgage-backed securities.
The
Credit Union Journal
has reported that the National Credit Union Association has assigned
Kent Buckham to be the first
director of its Office of Consumer Protection. Buckham was director of
NCUA's Office of Corporate Credit Unions for six years before serving
as head of the agency's
National Examination Team, which
monitored special cases of large troubled credit unions. The team is
being disbanded, according to the report. The new office will begin in
January to monitor credit union compliance with consumer rules and
regulations and investigate consumer complaints, according to the
Journal's report.
John Morrissey
of
MGR Real Estate
has announced the sale of a 17,537-square-foot industrial building at 2050 Hellman Ave., Ontario. The building sold to
Mariner's Village Investment LLC
for approximately $1.17 million. The seller,
Douglas Shand Trust,
was represented in the sale by Morrissey and
William Flaherty
of MGR Real Estate.
Nicholas Chang
and
Richard Lee
of
NAI Capital
represented the buyer.
The Peter F. Drucker and Masatoshi Ito Graduate School of Management and the Drucker Institute at Claremont Graduate University have presented Drucker Centennial Leadership Awards to: John Bachmann, chairman of the Drucker-Ito School Board of Visitors, member of the Drucker Institute Board of Advisors and a CGU trustee; Bob Buford, chairman of the Drucker Institute Board of Advisors; and Masatoshi Ito, the Drucker-Ito School's most significant supporter. All three were recognized at a dinner this month.
The Yucaipa Valley Chamber of Commerce will hold its annual officer installation and awards banquet Dec. 4 at The Orchard by Partners Pantry, 38490 Oak Glen Road, Oak Glen. The event will start with cocktails and a silent auction from 6 to 7 p.m. Dinner and the program begin at 7 p.m. Sponsorship opportunities are available. Cost: $45 per person; $80 per couple Information: (909) 790-1841.
Essex Realty Management was recently awarded a property management assignment for a diversified portfolio of office, industrial and retail properties totaling 700,000 square feet, including Canyon Springs Marketplace and other office holdings in Riverside. TDA Investment Group, the adviser for the properties, contracted with Essex Realty Management. Linda Webber, principal and executive vice president of Essex Realty Management, will be overseeing the portfolio from an executive level.
The Drucker Institute and the Peter F. Drucker and Masatoshi Ito Graduate School of Management at Claremont Graduate University have announced the release of "Drucker Now," a new iPhone App available for free download from the iTunes store. Designed by Apptango, "Drucker Now" includes: Drucker Apps, a twice-monthly release of usable insights on work and life that ties Peter Drucker's writings to the hottest issues of today, all supplemented with original video and audio interviews The Drucker School of Management's iTunes U channel, which offers cutting-edge lectures by school faculty along with gems from the Drucker Archives The Drucker Institute's Twitter feed Videos from the Drucker Institute's YouTube channel "The Drucker Difference" column in BusinessWeek online, written by Drucker Institute Executive Director Rick Wartzman.
Southern California Gas Co. has earned the top customer satisfaction ranking among natural gas utilities in the West and has the highest score among all utilities nationwide, according to the J.D. Power and Associates 2009 Gas Utility Residential Customer Satisfaction Study. The study is based on a random survey of U.S. residential natural gas utility customers. "To be recognized by J.D. Power and Associates for customer satisfaction is a tribute to the outstanding commitment of our employees to meet our customers' needs every day," Debra L. Reed, president and CEO of Southern California Gas Co., said in a news release. The J.D. Power and Associates study ranks 75 of the nation's largest natural gas utilities, and this year interviewed more than 54,000 customers. According to the news release, the scores are based on six factors: billing and payment; price; corporate citizenship; communications; customer service; and field service.
The Inland Empire chapter of the National Association of Industrial and Office Properties held a "Virtual Bus Tour" on Nov. 11 at Citizens Business Bank Arena. The event is NAIOP's annual review of the local commercial real estate industry. According to a news release, NAIOP reported at the event that 6.9 percent of the 27.4 million square feet of Southern California office inventory is located in the Inland Empire. Southern California vacancy rates for office space were reported at 23.5 percent with an asking average lease rate of $2.07 per square foot. The Inland Empire accounts for 22.7 percent of the Southern California industrial market, only second to the Los Angeles market, according to the report. NAIOP also reported that leasing activity in Southern California is slightly up this year with year-to-date figures at $15.3 million. Figures on the retail sector of the Inland Empire include total inventory of 106 million square feet with 608 total centers. According to NAIOP, the overall retail market vacancy rate is 11 percent and overall asking rate is $2.14 per square foot. "The presentation by NAIOP highlighted Victorville as one of California's fastest growing cities and that Victorville affords opportunity to new and expanding businesses," according to the report. Also mentioned was Victorville's Southern California Logistics Airport development. The Kosmont Cos.-Rose Institute's Cost of Doing Business Surveys named Apple Valley one of the least costly cities for doing business.
Riverside Mayor Ronald O. Loveridge recently was elected president of the National League of Cities during the 2009 Congress of Cities and Exposition. He will serve a one-year term leading the board of directors in shaping the group's priorities and directing the organization's advocacy, research and membership activities, according to a news release. Loveridge also is a past president of the League of California Cities.
Best Best & Krieger LLP, a law firm based in Riverside, has appointed attorney Eric Garner to another two-year term as managing partner. This is Garner's third term as managing partner. He also serves as chairman of the International Bar Association's Water Law Committee, according to a news release. The firm also recently voted business attorney George Reyes into another two-year term on its executive committee. He has been with the firm since 1978.
Forsythe Appraisals LLC, a provider of residential real estate appraisals, has opened a branch office in San Bernardino to serve the Inland Empire, the High Desert and the Palm Desert and Murrieta areas. The branch will be managed by Ed Harm, former branch manager in San Diego. Information: (909) 931-1720.
The Chino Valley Chamber of Commerce will hold its annual holiday luncheon and silent auction on Dec. 3 at Western Hills Golf and Country Club, 1800 Carbon Canyon Road, Chino Hills. A portion of the proceeds from the auction will benefit Chino Neighborhood House and Caring for the Hills. Cost: $36 per person, if received by Nov. 25; $40 per person thereafter. Attendees are asked to bring a new, unwrapped toy to for distribution to Chino Valley children. Sponsorships also are still available, and the chamber is still seeking items for the silent auction. Information: (909) 627-6177.
FedEx Ground, the small-package ground delivery service of FedEx Corp., has recognized Jorge Calderon of Corona for achieving 10 years of safe driving without a preventable accident. According to a news release, Calderon has been a truck driver for 10 years with FedEx Ground and works out of the company's Anaheim facility.
The new 7-Eleven in Norco has had to reschedule its grand opening. The celebration will now take place from 10 a.m. to 2 p.m. Dec. 12 at the new store, 1091 Sixth St. The Laker Girls will be on hand for the ribbon cutting at 11 a.m., and franchisees Tejvir and Sherry Walia will offer raffle prizes, free samples and meal deals.
The Faith Based Business Fellowship held its monthly meeting on Nov. 19 in the second floor banquet room at 8647 Helms Ave., Rancho Cucamonga. The speaker was businessman-turnedmissionary Arturo Sanchez of Casa Betesda in Nicaragua. Sanchez operates five churches, several orphanages and a rehabilitation center. He has been a missionary for the past 12 years. Information: (951) 453-9914
The
Drucker Society of Georgia
is launching Thursday, the 100th birthday of the late management thinker
Peter F. Drucker,
whose namesake business school is at
Claremont Graduate School. "The mission of the Georgia chapter is to improve the lives of young
people in Georgia by applying Peter Drucker's principles in conjunction
with Georgia educational, government, community and business leaders,"
according to a news release.
The
Chino Valley Chamber of Commerce
will be holding its annual holiday luncheon Dec. 3, and it is
encouraging chamber members to participate by providing a service
certificate, product or gift certificate for use in holiday baskets
that will be part of the silent auction. Proceeds will benefit
Chino Neighborhood House
and
Caring for the Hills.
The names of all donors will be listed on the baskets. Information: Andy Ronquillo, (909) 627-6177
September
new-home sales in California continued to remain below levels seen a
year ago, but the year-over-year declines have continued to shrink, the
California Building Industry Association
has reported. The monthly
CBIA/Hanley Wood Market Intelligence New-Home Sales and Pricing Report
showed that sales in new-home communities of 10 units or more were 11 percent below the same month a year ago. Sales of single-family homes were down by 17 percent, while sales of
townhomes and "plexes" -- duplexes, triplexes, etc. -- were down 11
percent and sales of condominiums were 12 percent higher than a year
ago. Compared with the same period last year, the median base price of homes sold dropped by 6 percent. In the San Bernardino-Ontario-Riverside metropolitan area, new-home
sales dropped 33.1 percent in September, compared to the year-ago
period. Median home prices, however, have begun showing signs
of mediating. While September's median price of $284,740 was down 16.7
percent from September 2008, it was up 1.5 percent from August.
Sky Blue Pools Repair & Supply Inc.
in Diamond Bar has relocated to a new space at 23545 Palomino Drive in
the city. The new location offers "easier access and parking, plus our
new facility is larger, helping to provide a more comfortable shopping
experience," co-owner
Theresa McGregor
said in a news release. Information: (909) 860-0176.
Rancho Cucamonga resident
Claudia Pohl has been named national
vice president of the American Dental Assistants Association. According to a news release, the trade group represents more than 250,000 dental
assistants in the United States. Pohl, a certified and registered
dental assistant for 34 years, has been active with the association on
the state and national level for several years. She is a graduate of
Cal State San Bernardino
and is RDA program director at Citrus College in Glendora.
A new
7-Eleven will open in Norco, at 1091
Sixth St., on Nov. 21. To mark the event, a grand opening will take
place from 10 a.m. to 2 p.m. and will include a ribbon-cutting
ceremony, musical entertainment, balloon animals and face painting.
There will also be free samples, meal deals and a raffle.
Forever 21 is set to open
its new 94,000-square-foot site Saturday at the Inland Center mall in
San Bernardino. In addition to Forever 21 apparel and accessories, the
store will house three of the retailer's other concepts:
Heritage 1981,
a lifestyle brand for men and women,
Faith 21,
the new extended-size line, and
Love 21,
the new women's line. "We are pleased to expand in the San Bernardino market and bring with
us an unmatched retail experience and some solid job opportunities
during this challenging economic climate," company Executive Vice
President
Larry Meyer
said in a news release.
The
Orange County Transportation Authority
honored coach operator
Philip Rosin
of Chino as its Employee of the Month for October. Rosin was honored for remaining accident-free on the job for 30 years,
according to a news release. He also was noted for maintaining an
"outstanding attendance and customer relations record as an OCTA coach
operator."
The Inland Empire chapter of the
California Society of Tax Consultants
will meet Nov. 18 at the DoubleTree Hotel Claremont, 555 W. Foothill
Blvd. Registration begins at 5:30 p.m. and dinner is at 6 p.m. Keynote
speaker will be
Kristopher Cowles,
regional vice president of
ING,
whose topic will be "Just the Facts on Annuity Tax." Two hours of federal credit will be given for attendance. Information: Priscilla Lerma, (909) 983-3716.
GMI, a regional provider of security, janitorial and construction services, has named Robert Hurd its new business development manager for the Inland Empire and Orange County. According to a company news release, Hurd's experience includes acting as director of custodial services at Opportunity Village, which focused on employing people with intellectual disabilities, and custodial superintendent at McCarran International Airport in Las Vegas.
The Upland and Rancho Cucamonga chambers of commerce will hold a joint mixer 5-7 p.m. Nov. 17 at the Upland Sports Arena, 1721 W. 11th St. The mixer will be hosted by ServPro of Upland and San Antonio Heights. Refreshments will be provided by the arena's new restaurant. Information: (909) 204-4465.
September's foreclosure rates in the San BernardinoOntario-Riverside metro area increased in September over the same period last year, according to a report from First American CoreLogic. According to recent data, the rate of foreclosures among outstanding mortgage loans was 6.04 percent for the month of September, an increase of 2.48 percentage points compared to September 2008, when the rate was 3.56 percent. The national foreclosure rate was 2.93 percent for September. The mortgage delinquency rate also increased in the Inland Empire. For September, 16.59 percent of mortgage loans were 90 days or more delinquent, compared to 11.20 percent for the same period last year.
Assemblyman Bill Emmerson has named the Frontier Project Foundation in Rancho Cucamonga the 63rd District's Green Business of the Quarter. If you know of a green business in your community and would like to submit a nomination request for Assemblyman Emmerson's Green Business of the Quarter, please call Emmerson's district office at (909) 466-9096.
Two Cal State San Bernardino students were awarded Rising Star scholarships at the Inland Empire Chapter of the Public Relations Society of America's Polaris Awards dinner Oct. 21 at the Castaway Restaurant in San Bernardino. Senior Elizabeth Ebie and junior Grace Rudatsikira are members of the Cal State San Bernardino chapter of the Public Relations Student Society of America. Both students are pursuing bachelor's degrees in communication studies at CSUSB.
Bruce Norris, a Riverside-based real estate consultant, hard money lender, investor and educator, has been appointed to the executive committee of the Real Estate Research Council of Southern California, a nonprofit organization headquartered at Cal Poly Pomona. The council gathers and analyzes statistics involving employment, building permits, new and existing home sales, deeds, notices of default and foreclosures as well as trends involving construction lending, residential purchase lending, office and industrial vacancy rates, apartment vacancy rates and rents throughout Southern California.
Auto-Graphics Inc., a library automation solutions provider in Pomona, has announced a partnership with software development company Index Data LLC to provide integrated search and discovery software to the library industry. "Our companies share a common vision of putting the customer first with the goal of jointly developing and integrating standards-based software solutions," said Paul Cope, president of Auto-Graphics, in a news release. "This partnership allows us to more effectively utilize an open systems approach to deliver software and unmitigated access to data for our library partners."
Andi Campognone Projects, 558B W. Second St., Pomona, will hold a grand-opening reception 6-9 p.m. Nov. 14. The event will present the company's new offices and exhibition space in the Pomona Arts Colony and will include a painting exhibition of The New Irascibles, featuring the work of Philip Argent, Daniel Brice, Max King Cap, Alex Couwenberg, Jimi Gleason, Robert Kingston, Andy Moses, Thomas Pathe, Roland Reiss, Greg Rose and Mark Zimmermann. Information: (909) 629-4500.
Montclair Chamber of Commerce Executive Director Kelly Johnson and other business leaders recently met with state Sen. Gloria Negrete McLeod, D-Montclair, as part of the Small Business Advisory Council, according to a chamber newsletter. The meeting was conducted by California Small Business Association President Betty Jo Toccoli. Topics discussed included the proposed business net receipts tax, water issues, health and workers' compensation insurance.
Khim Fugate, associate administrator and chief nursing officer at Arrowhead Regional Medical Center in Colton, was selected recently to participate in the California HealthCare Foundation's Health Care Leadership Program, according to a news release. The program is designed to "equip talented professionals with the skills needed to positively impact health care policy and delivery in California," according to the release. Fugate was one of just 30 individuals selected to participate in the program.
The board of directors of American States Water Company in San Dimas recently approved a one-centper- share increase in its quarterly dividend. The dividend of $0.26 per common share will be payable on Dec. 1 to shareholders of record at the close of business on Nov. 12.
The U.S. Railroad Retirement Board has announced that " The Centers for Medicare and Medicaid Services has announced that the standard monthly Part B premium will be $110.50 in 2010," according to a news release. "However, most Medicare beneficiaries will not see an increase in their monthly Part B premiums in 2010 because of a 'hold-harmless' provision in current law." Railroad retirement and Medicare beneficiaries will receive notice from the Social Security Administration about other income-related premiums by December.
Riverside-based Altura Credit Union has reported "a significant improvement in its bottom line results compared to the same period last year" for the third quarter, according to a news release. Net income totalled $1.8 million. "The results for the third quarter suggest economic conditions in the region are beginning to show improvement," the news release said. Altura was "well capitalized" by federal regulatory standards as of Sept. 30.
The Inland Empire's industrial vacancy rate edged up during the third quarter of 2009 to 15.4 percent, compared with 11.9 percent in the year-ago period, according to a news release by Colliers International, a real estate services firm. On a national level, "the industrial vacancy rate edged up ... hitting 10.5 percent. This represents a new high for the decade and marks the eighth consecutive quarter of increasing vacancy."
Sares-Regis Group and institutional investors advised by J.P. Morgan Asset Management have acquired a 390,000-square-foot warehouse and distribution building in Redlands from BlackRock for $11.5 million in the first purchase made by a new strategic alliance of the buyers "that is targeting high-quality industrial buildings throughout Southern California that offer value-add possibilities via leasing and management," according to a news release. The venture's new asset is at 9425 Nevada St. in a built-out master-planned development called Pioneer Industrial Center. The transaction was brokered by the Cushman & Wakefield team of Jeffrey Cole, Chuck Belden and Ed Hernandez from the brokerage firm's Orange County office, who represented both parties in the sale.
Grubb and Ellis Co.' s Ontario office recently completed the following transactions:
● Mary Meeks bought an industrial building at 422 Smith Ave., Corona, from CTC Properties LLC. Randy Lockhart and Steve Sprenger represented the seller in the transaction. Tom McCrystal of Point Enterprises Inc. and Eric Fiske of Daum Commercial Real Estate Services represented the buyer.
● Covington and Crowe LLP subleased office space at Empire Towers IV at 3800 Concours, from Cushman and Wakefield of California Inc. John Daciolas of Grubb and Ellis represented the lessee in the transaction. Marc Selznick of Unire Real Estate Group represented the lessor.
● 2020 Communications Inc. leased 1,524 square feet of office space at Civic Center Plaza II at 10565 Civic Center Drive, Rancho Cucamonga, from the Glover Family LLC. John Daciolas represented the lessee. Tony Phu of Colliers Seeley International represented the lessor.
● Taicon Corp. leased industrial space at Oaks Business Park at 13831 Oaks Ave., Chino, from William I. Feldhorn Trust. Mitch Fisher represented the lessor in the transaction. Agnes Highley of Lee and Associates represented the lessee.
The Inland Empire Economic Partnership will hold its inaugural energy summit, "Energy, Economics and the Environment: Creating a Sustainable Future," from 8 a.m. to 1 p.m. Friday at the DoubleTree Hotel, 222 N. Vineyard Ave., Ontario. The keynote speaker will be Mary Nichols, chairwoman of the California Air Resources Board. The event's sponsors are Southern California Gas Company and Southern California Edison, as well as San Bernardino County's Economic Development Agency. Cost: $50. Sponsorships and exhibit space still available. Information: Cari Mendez, (951) 779-6700, ext. 239
The California Air Resources Board fined waste-removal company Edco Disposal Corp. $219,500 last month for emissions violations in 2005 and 2006, according to a recent news release. Edco failed to perform the annual smoke-inspection test on some of its diesel trucks as required by law at its facilities on Agua Mansa Road in Riverside County, Armour, Buena Park, Escondido, Fallbrook, Federal, Long Beach, Ramona and San Marcos facilities.
A $25,000 grant from US Bank will allow SoCal CDFI, a multi-bank consortium operating in the Inland Empire, to continue its plan to offer small, working-capital loans to businesses in low- and moderate-income areas. According to a news release, the program initially was designed with state Loan Guarantee Program providing a 40 percent to 60 percent guarantee, and Riverside providing an additional 35 percent guarantee. The program was threatened when the state suspended its loan-guarantee program. The grant from US Bank allowed the program to be resuscitated.
The San Bernardino County Board of Supervisors recently adopted a new policy to encourage county departments to "consider energy and water efficiency and other environmental factors when purchasing products and services," according to a news release. The Environmentally Preferable Purchasing policy aims to "reduce waste and to prompt county vendors and service providers to be more environmentally friendly," the release states. The county Purchasing Department is developing standard practices that will identify environmentally preferable products and services, list hazardous substances targeted for reduction and provide legal language for county bids and contracts.
EnerPath, a Redlands company that works throughout the U.S. and Canada to help homeowners and businesses become more energy efficient, received the city's Green Action award this month. Green Action awards are an initiative started by Redlands Mayor Jon Harrison to honor "individuals and organizations who have implemented programs to reduce their impact on the environment and contribute to a sustainable future for the city," according to a news release. Harrison presented the award to EnerPath CEO Stephen Guthrie at the company's Redlands office. EnerPath has operated in Redlands nearly 20 years.
Metrostudy, a national housing data and consulting firm with a division in Riverside, found that new housing starts in the region have shifted to a more affordable price range. The highest volume of starts is in the $250,000 to $325,000 price range, the report found. Previously, the $325,000 to $424,000 price range dominated housing starts. The company conducts a count of 100 percent of all new housing units in subdivisions within the market area each quarter. The company uses finished vacant inventory as a key indicator of the health of housing inventory within markets. Representing 39 percent of total Inland Empire inventory, finished vacant housing decreased to 2,098 units, a decline of 7 percent since the second quarter of 2009 and a 41 percent decline since the third quarter of 2008, according to the report. Typically, finished vacant inventory in Southern California markets comprises 18 percent of total inventory during normal market conditions. Closings exceeded starts in the third quarter, according to Metrostudy. New housing starts totaled 1,350, a 3 percent decline from the second quarter and a 9 percent decline from the third quarter of 2008. Meanwhile, closings were up from the previous quarter 14 percent, to 1,975.
Arizona-based International Aerospace Enterprises Inc. -- which has its main operations in Ontario -- has announced that it has received a contract totaling $2.45 million for military aircraft spare parts. According to the company news release, the contract calls for the delivery of the parts before the end of this fiscal year. Contracts totalling $16 million have been received by the company since the return of company President Saffet Uslu from his trip to the Middle East earlier this year, according to the release.
New-home construction in the state dipped again in September, the California Building Industry Association said. According to statistics compiled by the Construction Industry Research Board, home builders pulled permits for 2,920 total housing units in September, down 1 percent from August. When compared with September of last year, production in 2009 was off by 36 percent. Permits for single-family homes totaled 2,150, down 2 percent from the previous month and down 12 percent from September 2008. Multifamily permits totaled 770, up 0.5 percent from August but down 63 percent from September of last year. The CIRB also announced it is revising its forecast downward from 39,500 total units to 37,700 total units for 2009, which would be the lowest total on record.
RealtyTrac today released its Metropolitan Foreclosure Market Report for the third quarter, which shows that cities in California, Florida and Nevada again accounted for the 10 highest foreclosure rates among metro areas with a population of 200,000 or more. But five of those Top 10 metro areas reported decreasing foreclosure activity from the third quarter of 2008, while many other metro areas with Top 50 foreclosure rates reported sharp increases in foreclosure activity. The Inland Empire remained in the Top 10 regions but dropped to No. 6, with a rate of 3.37 percent. Las Vegas posted the nation's highest metro foreclosure rate, with 5.13 percent of its housing units receiving a foreclosure filing during the quarter -- nearly seven times the national average. Despite a 13 percent decrease in foreclosure activity from the previous quarter, Merced posted the nation's second-highest foreclosure rate, with 3.72 percent. Foreclosure activity in the Cape Coral-Fort Myers metro area in Florida also decreased but still registered the nation's third-highest metro foreclosure rate -- with 3.67 percent. Other metro areas in the Top 10 were the California areas of Stockton (3.53 percent), Modesto (3.39 percent), Riverside-San Bernardino, Bakersfield (2.88 percent) and Vallejo-Fairfield (2.85 percent), along with the Nevada's Reno-Sparks metro area (2.67 percent) and the Florida metro areas of Port St. Lucie (2.63 percent) and Orlando-Kissimmee (2.57 percent).
Chino Commercial Bancorp, the parent company of Chino Commercial Bank, recently announced a net earnings increase of 26.5 percent for the quarter ended Sept. 30. The company's net earnings for the period were $95,080, compared to $75,136 for the same quarter of 2008. The net earnings for the most recent quarter represent $0.13 per diluted share, as compared with $0.10 per diluted share from the same quarter last year. The company's profit year-to-date was up 9.5 percent to $287,878, or $0.39 per diluted share, as compared with net earnings of $263,012, or $0.35 per, diluted share for the same period last year.
P&G Accounting will sponsor a Small Business Summit from 5-7 p.m. on Wednesday, Nov. 4, at 517 N. Mountain Ave., Upland. The free event is open to small-business owners and self-employed individuals. Topics covered will include ways to lower taxes using allowable business deductions, the most efficient form of structuring your business, federal and state tax guidelines and much more, according to a news release. Information and reservations: (909) 912-0183.
AT&T recently announced that its U-Verse products now reach more than 3 million living units in the state, including many cities in the Inland Empire. The U-verse services, which include television, high-speed Internet and telephone, launched in the state in 2006. According to a company news release, AT&T has invested nearly $7.9 billion in its California wireless and wireline networks, which helped facilitate the rollout of U-verse services in the state.
The roof of a 458,000-square-foot industrial building in Chino is now providing as much as one million watts of solar power to the Inland Empire. This is the second installation in Southern California Edison's plan to place solar panels on hundreds of otherwise unused commercial rooftops across Southern California. The site is owned by Multi-Employer Property Trust, whose investment adviser is Kennedy Associates. During the next five years, Edison will install, own and operate 250 megawatts of solar-generating capacity.
WCV Commercial Properties has secured a four-year lease totaling 185,342 square feet and valued at $2.69 million with Dirt Cheap Inc., a landscape services company. The space is at 1100 S. Etiwanda Ave., units A & B, in the Etiwanda Distribution Center in Ontario. Mike McCrary and Jeff Bellitti from Colliers International represented owner WCV Commercial Properties in the transaction. Anthony Naticchioni of NAI Capital represented the tenant.
CIP Real Estate has secured 11 leases in the past three months in the Empire Towers office park in Ontario. CIP Real Estate owns four of the five Empire Towers buildings in partnership with Guggenheim Real Estate.
The transactions included:
● Merrill Lynch/Bank of America, which has renewed a lease valued at more than $1.06 million at 4141 Inland Empire Blvd. The ownership was represented by Phillip J. Woodford of CB Richard Ellis and Merrill Lynch/Bank of America was represented by Myron Galchutt of Newmark Knight Frank.
● Sedgwick Claims Management renewed a lease valued at $1.5 million at 3633 Inland Empire Blvd. Sedgwick Claims was represented by Wyatt Prichard of CIP Real Estate and Sedgwick Claims Management was represented by Vindar Batoosingh of CBRE.
● XO Communications has signed a new lease valued at more than $400,000 for property also located at 3633 Inland Empire Blvd. The ownership was represented by Vindar Batoosingh of CBRE and XO Communications was represented by Darren M. Eades of Jones Lang LaSalle.
● Windsor Foods signed a lease expansion at 4200 Concours. This transaction was valued at approximately $370,000. Wyatt Prichard of CIP Real Estate Property Services represented both parties in the transaction.
● Word & Brown signed a lease expansion for $485,000 in the nine-story tower at 3633 Inland Empire Blvd. Word & Brown was represented by Jason Hoffman of Mohr Partners.
● Mutual of Omaha signed a lease valued at $300,000 for a new regional office at 3633 Inland Empire Blvd. Mutual of Omaha was represented by Adam X.
Espinoza of Grubb & Ellis and the ownership was represented by Philip Woodford and Vindar Batoosingh of CBRE's Ontario office.
Other leases: National General Insurance Co., American Justice Mitigation, Kaiser Ventures, Powell Electronics and Fidelity National Title.
National Grid Gas in the United Kingdom recently selected Redlands-based ESRI geographic information system software for its gas distribution front-office transformation program. The agency plans to "improve operational efficiency and enhance customer service" with ESRI's GIS and other IT upgrades, according to a news release. National Grid chose ESRI from a global pool of all major GIS vendors.
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