| No. of homes in some stage of foreclosure soared, data show
The number of U.S. homes that slipped into some stage of foreclosure in 2007 was 79 percent higher than in the previous year, a real estate tracking company said Tuesday. Many homeowners started to fall behind on mortgage payments in the last three months, setting the stage for more foreclosures this year. About 1.3 million homes received foreclosure-related warnings last year, up from 717,522 in 2006, Irvine-based RealtyTrac Inc. said. Foreclosure filings rose 75 percent from the previous year to 2.2 million. More than 1 percent of all U.S. households were in some phase of the foreclosure process last year, up from about half a percent in 2006, RealtyTrac said. Nevada, Florida, Michigan and California posted the highest foreclosure rates, the company said.
NNN Realty Advisors Stockholders Approve Merger
SANTA ANA, Calif., Dec. 6 /PRNewswire/ -- NNN Realty Advisors, Inc. stockholders, who met earlier today in a special meeting in Costa Mesa, California, have voted to approve and adopt the previously announced agreement to merge with Grubb & Ellis Company (NYSE: GBE) . Approximately 97.2 percent of the votes cast were in favor of the transaction, which represents approximately 79.2 percent of the shares of NNN Realty Advisors common stock outstanding. Upon completion of the proposed merger, NNN Realty Advisors stockholders will receive 0.88 shares of Grubb & Ellis common stock for each share of NNN Realty Advisors common stock outstanding. The merger agreement was first announced on May 22, 2007. NNN Realty Advisors, Inc. NNN Realty Advisors is a nationwide commercial real estate asset management and services firm that sponsors real estate investment programs to provide investors with the opportunity to engage in tax-deferred exchanges of real property and to invest in other real estate investment vehicles, including public non-traded real estate investment trusts and real estate investment funds.
Junction store's future still unclear
Nearly a year after Albertsons closed its doors at The Junction shopping center, there's no word on what grocery store will take its place. Albertsons representatives said last summer they had sold the store to Raley's, a West Sacramento-based chain of supermarkets in northern California, Nevada and New Mexico. Raley's holds the lease to the still-vacant East Sonora store. Company spokeswoman Nicole Townsend said that, as a private business, Raley's doesn't comment on its real estate plans. Junction merchants have heard rumors that discount grocer Cost Less Food Company would move into the store once an agreement between the company, Raley's and The Junction's owners was worked out. Don Way, president of Cost Less Food Company, said Friday that a Cost Less will not be coming to The Junction.
Placer to sue former planner
Placer County supervisors voted Tuesday to sue former county Planning Commissioner Michelle Ollar-Burris and a group of her clients, alleging violations of state planning law. County Counsel Tony LaBouff said the lawsuit, which may be filed as soon as today, will include allegations that Ollar-Burris committed fraud, violated her fiduciary obligations as a planning commissioner and engaged in unfair business practices. Ollar-Burris, an Auburn real estate broker, was removed from the Placer County Planning Commission in June after a Sacramento Bee story detailed real estate transactions that appeared designed to subvert California's Subdivision Map Act. .
CA Retirement fund to buy 275 million stake in Silver Lake Partners
An announcement may come as soon as today, said the person, who declined to be named because the talks are secret. The stake is worth about $275 million, valuing Menlo Park, California-based Silver Lake at $2.75 billion, the New York Times reported earlier today, citing unidentified people briefed on the deal. Calpers, which covers the benefits of more than 1.5 million Californian state and local government employees, has more than 400 private equity investments. Sacramento, California-based Calpers plans to reduce that number by concentrating assets in fewer fund managers. The California Public Employees' Retirement System (CalPERS) provides pension fund, healthcare and other retirement services for approximately 1.5 million California public employees. As of October 2007, it owns $254.8 billion worth of stock, bonds, funds, private equity and real estate.
Home foreclosure rate soars in 2007
LOS ANGELES — The number of U.S. homes that slipped into some stage of foreclosure in 2007 was 79 percent higher than in the previous year, a real estate tracking company said Tuesday. Many homeowners started to fall behind on mortgage payments in the last three months, setting the stage for more foreclosures this year. About 1.3 million homes received foreclosure-related warnings last year, up from 717,522 in 2006, Irvine-based RealtyTrac Inc. said. Foreclosure filings rose 75 percent from the previous year to 2.2 million. More than 1 percent of all U.S. households were in some phase of the foreclosure process last year, up from about half a percent in 2006, RealtyTrac said. Nevada, Florida, Michigan and California posted the highest foreclosure rates, the company said.
You’re Gonna Love Me!: Queen Yonasda
Not every young girl or woman is going through gold-digging, street lifestyles or any of the things that some of my female counterparts are talking about. I want to be the voice for queens, for those that are working 9-5, and those that are single mothers even if they are married. I want them to be able to say, Oh while, I can relate to her because finally someone is speaking what I am going through. I feel that as women we are a nation. Elijah Muhammad said that No nation can rise higher than its women. So as it relates to hip-hop its very true. They said that hip-hop is dead but I just feel that right now it just needs a balance and I feel that the woman is that balance. How do you aim to balance your political and social commentarywhich is something thats not heavily promoted in the mainstreamwith the pressures of achieving mainstream success? 2008 is going to be a very political year. This is the first time that we have a black man, a woman, and a Latino presidential candidate. So right now the nation is yearning for some type of consciousness. Kanye [West] beat out 50 Cent. So the people really want to be educated in some way shape or form. God has been working with me for years now. Ive been listening to him and I believe that my timing is good. I read that you kept the songs very short on the album. Why did you make that decision? Every song on my album is less than 2 minutes and 30 seconds because of the attention span. I dont want to be too preachy. If you look at the presidential candidates they have been doing things on MySpace, MTV, and keeping it really short and to the point, but you can still be able to bring the nation to the next level of consciousness. . Your mother was Native-American and your dad is African-American. How did those different cultures influence your development as an artist and individual? I love the fact that every snowflake is different. I love to be different from everyone else. My mother raised me and my brother and she strived her best to teach me both cultures. We celebrated Kwanza and Christmas. Everything kind of squared away when it came to learning about cultures and being proud of who I am. Even though I may look African-American I cant deny my mother or where I came from so in my music its both. You were adopted by Minister Louis Farrakhan and call him a grandfather. How was that experience growing up in the Farrakhan family? It was wonderful! It was not difficult because the man that I grew up with and know is not the man that they portray negatively on televisionyou know the anti-Semitic. So that was my first realization of what the media could do to discredit you. I had it made when my mother used to work for Muhammad Ali. I was very wealthy. My mother went to prison on behalf of the Nation of Islamthey were trying to get information on Farrakhan and my mother said that, I dont have any information. So they gave her four to six years in prison and thats when me and my brother were adopted. I learned a lot about the Islamic faith. I learned to always tell the truth and thats the one thing I learned from the ministerno matter what you always tell the truth. Are you legally adopted by Minister Farrakhan? Yes, his daughter Maria and her husband, Alif, legally adopted me and my brother. He is the nephew of the honorable Elijah Muhammad. What would be the one thing wed be surprised to learn about Minister Farrakhan? Music, he taught me how to play the violin. When I was in 4th grade he would always tune my violin. I dont know if you heard him but hes on the new Wyclef [Jean] album playing the violin. Hes a great violin player. I could go to him for anything. Hes a father figure in my life. So I can talk to him when I have guy trouble.
The fixer and the facts machine: unveiling Newcastle's odd couple
Jimenez moved and shook in the international transfer market before it exploded into a multimillion-pound industry. There are few people he cannot reach and his likeability and capacity to get things done have helped him to win the trust of prominent people. They do not come much more prominent than Mike Ashley and Paul Kemsley, the Newcastle owner and the former Tottenham director, who are lifelong friends and have welcomed Jimenez into their circle. While Ashley made his fortune in the retail business, it has been property for Kemsley and here Jimenez has much in common. He is a millionaire because of a series of property developments, which have included hotels and golf courses in Spain and Dubai. The trio have worked on business deals and in football. Jimenez was born in Brixton, south London, and lives in Kent but he comes from a Spanish family, who hail from Seville, and his fluency in Spanish and knowledge of the city of Seville saw him play a part in Tottenham's move for Juande Ramos.
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