| Hooksett, developer look for right fit
Feldco Development Corp., the company proposing the Cabela's project in Hooksett, is described as professional and a "class act" by a member of a local planning board in Maine, but another warns Hooksett officials to clarify every detail and put everything in writing. In Rhode Island, where Feldco developed a major shopping center, the corporation created an outcry among local artists upset over the project. Connecticut-based Feldco is run by president Barry Feldman and his partner, Gene Beaudoin. Last month, the company proposed a new financing deal for Hooksett. "Cabela's would very much like to open a facility in Hooksett," said Ed Eckman, site evaluation coordinate for Cabela's, a Nebraska-based sporting goods company. "Feldco is a continuation (of) our original work with the community and is the best way for everyone to make it a reality." Hooksett's legal advisor, David Barnes, said the plan would limit Hooksett taxpayer liability.
Prison financing targeted in suit
California's $7.9 billion prison construction package came in for its first legal attack Wednesday when an activist group filed a lawsuit in Sacramento saying the plan's financing mechanism violates the state constitution. In seeking an injunction to block Assembly Bill 900, Taxpayers for Improving Public Safety charged that the state's use of lease-revenue bonds to fund virtually all of the deal is illegal because there is no dedicated stream of money to pay off the obligations. "Lease-revenue bonds must contain a revenue-generating mechanism," group spokesman Matt Gray said at a Capitol press conference. "AB 900 clearly does not. Prisons do not make money. They do not generate money. It's not like a toll bridge (where) the tolls would pay off the bonds." .
Student loan holders sue to block building plan
A lawsuit by student loan recipients seeks to block Gov. Matt Blunt's $350 million plan to finance college construction projects by taking money from the state's student loan authority.
The lawsuit against the Missouri Higher Education Loan Authority claims the agency is violating both its state-mandated mission and its fiduciary duty to students by allowing its money to go to buildings instead of better deals for its borrowers.The lawsuit filed Thursday asks a Cole County judge to issue an injunction barring the loan agency and its board of directors from financing the building plan and to declare it illegal. A law authorizing the deal is set to take effect Aug. 28.The loan agency already has sold off hundreds of millions of dollars worth of loans made to non-Missourians in anticipation of transferring money to the state.
Lawsuit seeks to prevent use of MoHELA funds for capital improvements at state universities
Student borrowers have gone to court to stop Gov. Matt Blunt's plan to use $350 million in Missouri college-loan agency funds for college construction and technology projects. A class-action lawsuit filed late Thursday in Jefferson City against the Missouri Higher Education Loan Authority contends that Blunt's plan is an "illegal and misguided scheme to unlawfully divert MoHELA assets." The attorneys representing two student loan holders include John Lichtenegger, a former University of Missouri curator. The lawsuit asks a Cole County judge to bar the loan agency from financing the building plan and declare it illegal. The law authorizing the plan was to take effect Aug. 28. The lawsuit threatens millions of dollars in construction proposals and other improvements at several area colleges, including the University of Missouri-Kansas City.
Deal ends library suit Ex-director fought firing
A former deputy director at Greenwich Library has won an undisclosed amount of money by settling a federal lawsuit that claims town employees violated her civil rights.
Greenwich paid 64-year-old Inga Boudreau $25,000 to settle the suit she brought against the town, Greenwich Library, the library's Board of Trustees and three library officials, according to Roland Geiger, the town's budget director. The suit charges those defendants with breach of contract, defamation and intentional infliction of emotional distress.
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Directed Electronics Reports 12% Second Quarter 2007 Sales Increase
VISTA, Calif., Aug. 9 /PRNewswire-FirstCall/ -- Directed Electronics, (Nachrichten) Inc. announced today financial results for the second quarter and six months ended June 30, 2007.
Second Quarter Results
Net sales in the second quarter of 2007 were $86.7 million, an increase of 12% over the prior year second quarter net sales of $77.7 million. Gross sales of security and entertainment products in the second quarter 2007 were $62.4 million, an increase of 64% over $38.0 million in the prior year second quarter. Polk Audio represented $24.3 million of gross security and entertainment sales in the second quarter. Gross sales of satellite radio products decreased 31% to $28.3 million in the second quarter 2007, compared with $41.3 million in the second quarter 2006.
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