The Bizz

Rail retirement board announces 2010 premiums

2009-11-04T15:35:13Z

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.

Altura Credit Union reports third-quarter income

2009-11-04T15:34:49Z

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.

Legal updates to be discussed at Ontario event

2009-11-04T15:34:07Z

The Employers Group is presenting its "Workplace Employment Law Updates" event on Nov. 13 from 8 a.m. to 4:30 p.m. at the Ontario Convention Center. The cost for members is $225, and for nonmembers, $325. For more information, visit: www.employersgroup.com/WELU.shtml or e-mail training@employersgroup.com. Or call (213) 765-3967. Speakers from the Disney Institute, Richard Simmons and employment law attorneys will show businesses the latest workplace trends and legislation facing employers in 2010, including "legal updates, best practices and need-to-know business knowledge," according to a news release.

I.E. industrial vacancies increase in third quarter

2009-11-04T15:33:36Z

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."

Speed networking spotlighted at event

2009-11-04T15:33:01Z

The Ultimate Speed Networking Event was held Tuesday at Citrus City Grille at Riverside Plaza, where Kat Shepherd, the CEO of TheUltimateProfessional.com , hosted speed networking sessions. Participants networked face to face before alternating their seating arrangements and paring up with another business owner nearby in the same room, sharing business cards and information about their business.

Sares-Regis Group buys Redlands building

2009-11-04T15:32:34Z

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.

Ontario Grubb and Ellis office announces recent transactions

2009-11-04T15:25:09Z

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.

CRY-ROP to receive Golden Bell award for youth work program

2009-11-04T15:24:14Z

The Colton-Redlands-Yucaipa ROP will be honored in the 30th annual Golden Bell Awards program of the California School Boards Association. The award was won in the Partnerships and Collaboratives category for Operation More Opportunities Now Exist for You (MONEY), under the direction of Lynnae Pattison. MONEY, which is funded by federal grants, was authorized by the county's Workforce Investment Board. "The two-year program increases employment and earnings by developing work/career potential and improves long-term employability by enhancing academic and occupational learning," according to a news release. Information: (909) 793-3115; www.cryrop.org

IEEP to hold inaugural energy summit this week in Ontario

2009-11-04T15:23:13Z

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

Loma Linda medical office building sells for $3.24 million

2009-11-04T15:22:30Z

Mecum Loma Linda LLC has purchased a fully leased medical office at 25865 Barton Road in Loma Linda for $3.24 million from Meridian Property Co., according to costar.com

The building is part of the Loma Linda Professional Center, at the southeast corner of Barton Road and Mountain View Avenue. Loma Linda University Medical Center has a 10-year triple-net lease on the subject property. Drew Wetherholt of Marcus and Millichap represented the seller. David Kaufman, also with Marcus and Millichap, represented the buyer.

Disposal corporation fined for emissions violations

2009-11-02T23:52:55Z

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.

BOE reports drop in demand for diesel in July; gas up slightly

2009-11-02T23:52:29Z

California gasoline demand rose by 2.2 percent in July compared to the same month of the previous year, according to recently released figures from the state Board of Equalization. Demand for diesel fell a substantial 11.2 percent in July from the same period in 2008. This is the third month of slight increase in gasoline consumption. Californians used 1.284 billion gallons of gasoline in July, generating about $310 million in sales tax, $109 million less than the previous July. Diesel fuel sold in California during July totaled 215.77 million gallons. Information: www.boe.ca.gov/sptaxprog/spftrpts.htm

Loan provider forced to forgive $112.7 million in student debt

2009-11-02T23:51:53Z

The state attorney general recently forced Student Loan Xpress Inc. to provide $112.7 million in debt relief to students facing a debt for helicopter flight instruction they never received. Of the $112.7 million, about $25.5 million will go to California residents who did not receive training they paid for, according to a statement from Attorney General Jerry Brown's office. The company was the "preferred student loan provider" for Silver State Helicopters, which had 34 campuses in 17 states, and included 2,700 students who paid about $69,900 each. In California, the company operated flight schools in Chino, Sacramento and El Cajon. The school filed for bankruptcy in February 2008, but Student Loan Xpress demanded that borrowers repay the full cost of the loans, according to the release. After several months of negotiations, state attorneys and Student Loan Xpress agreed to forgive an additional 2.5 percent of student loans if the adjusted loans are repaid within five years; refrain from providing negative information to credit-reporting agencies with respect to any loan restructured; and forgive interest between the dates Silver State Helicopters filed for bankruptcy protection and the end of 2009. Student Loan Xpress will also pay $125,000 in legal expenses to the states. Information: settlementquestions@gmail.com

SBA considers expanding access to financial assistance, contracting

2009-11-02T23:50:43Z

The U.S. Small Business Administration is proposing increases in the size definitions for three broad commercial sectors, according to a recent news release. The changes would expand access to SBA's financial assistance, contracting and other programs. "SBA is examining every industry to ensure that existing size standards are based on current economic data, and SBA will propose to revise those where it believes it is necessary. The newly proposed rules give the public an opportunity to review and comment on SBA's proposed standards as well as on the data and methodology that SBA uses to evaluate and revise size standards," the agency said in the release. Comments can be submitted on the proposed rule by Dec. 21 at www.regulations.gov where they will be posted. Comments can also be mailed to Khem R. Sharma, chief, Size Standards Division, 409 Third St. SW, Mail Code 6530, Washington, DC 20416. E-mail is also available at sizestandards@sba.gov

Information: www.sba.gov/size and click on "What's New."

Founding dean named for UCR's planned medical school

2009-11-02T23:50:08Z

Dr. G. Richard Olds, an internationally recognized tropical disease authority and chairman of the department of medicine at the Medical College of Wisconsin, has been appointed vice chancellor of health affairs and founding dean of the medical school at UC Riverside. Olds will assume his new position by Feb. 1. Olds will earn an annual base salary of $525,000 and will have the opportunity to earn annual performance-based compensation of up to $100,000, according a university news release. His compensation will be funded initially with private funds donated to UCR for the start-up of the medical school, according to the release. Information: www.ucr.edu