| Greater Bay Bancorp Company Profile - View Greater Bay Bancorp (GBBK ...
Greater Bay Bancorp offers a greater way to bank. Founded in 1984 and headquartered in East Palo Alto, CA, Greater Bay Bancorp (NASDAQ: GBBK) is the holding company for Greater Bay Bank. The bank has about 41 branches in the San Francisco Bay area that offer deposit accounts, time deposits, IRAs, traveler's checks, and a variety of loans, including commercial, real estate, and consumer loans. It has other subsidiaries that offer insurance, employee benefits, and consulting services. The bank had 2005 revenue of about $602.7 million and employs about 1,900 people. In April 2005, its ABD subsidiary signed an agreement to acquire Lucini/Parish Insurance, Inc. Greater Bay Bancorp Executives Byron A. Scordelis [President & CEO] Colleen Anderson [President, Community Banking Group] James P.
797 new area jobs predicted
Roland Mower, CEO of the Corpus Christi Regional Economic Development Corporation; Keith Arnold, president and CEO of the Corpus Christi Convention and Visitors Bureau; and Gene Guernsey, real estate agent with Remax Metro Properties, met with members of the Corpus Christi Rotary Club on Thursday to discuss their forecasts. "I really think we are setting up 2009, 2010 and other years for a really good housing market," Guernsey said. "I think the housing market will remain a buyer's market, and we will have about an eight-month inventory. It will continue to be strong compared with national figures." Month-supply inventories ranging from six to nine months -- meaning the houses take that long to sell -- are considered balanced markets. Anything less than six months shows a seller's market and anything more than nine months shows a buyer's market.
Buyers outnumber sellers in religious real-estate market
Heaven knows that selling religious properties can be difficult. Marketing churches, synagogues, mosques and other religious properties is so tricky and sensitive that few real-estate agents handle these types of transactions. It's not always easy for a church to get a loan. Lenders end up in the awkward position of having to assess the financial viability of a congregation to make sure they won't have to foreclose. .
Phila. Councilman Kelly Acknowledges FBI Probe of Staffer
A Philadelphia City Councilman says he's cooperating fully with a federal probe that reportedly involves a member of his staff. The Philadelphia Daily News reports that federal investigators are probing the dealings of Councilman Jack Kelly's chief of staff with two real estate developers. The US Attorney's office will neither confirm nor deny the report. Kelly himself was not available. His legislative aide, John Cerone, says Kelly and other staffers are cooperating: Q: "The Councilman has been interviewed by the FBI, correct?" Cerone: "It is my understanding that the Councilman has cooperated fully with all authorities, as has his staff." And Cerone stresses that Kelly has not been accused of any wrongdoing. Kelly, a Republican at-large Councilman, just narrowly survived his re-election bid, beating a challenger by only about 100 votes.
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.
Branding Chinatown: Neighborhood transforms
Flocking from SoCal to Houston," trumpeted a Los Angeles Times headline in December. "Vietnamese Americans are lured to the Texas city by cheap real estate, a lower cost of living and a burgeoning cultural enclave." Sell your house in Los Angeles, Houston Realtors urge, then buy a bigger one here for a third the cost and invest the rest in your business. The gold rush appears to be on, and new settlers are setting up shop in the boomtown. But as much as I like that Wells Fargo sign, with its Wild West stagecoach, it doesn't entirely work as a symbol of its neighborhood. In this new Chinatown, the West isn't charging into the East. Really, it's the other way around. So what would work as a visual symbol for the new Chinatown? How could you depict a place that's pan-Asian, old and new, united mainly by entrepreneurial zeal? "I don't know," says William Kao, chair of the Asian American Business Council's beautification committee.
Holiday creep yields bounty of Thanksgiving greetings
Real estate attorney Michael Wasserman received Thanksgiving cards this week from his insurance agent and his dentist, among others.
His dentist's card included a typewritten letter recapping the year's highlights -- a genre once known as the Christmas letter and typically mailed in December.
Holiday creep -- that well-documented phenomenon that brought us evergreen boughs in stores in August -- is boosting Thanksgiving's presence in the greeting card universe.
.
AP Executive Morning Briefing
LOS ANGELES (AP) _ 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. ___ Fed Weighs Another Rate Reduction WASHINGTON (AP) _ Individuals and businesses are likely to see their borrowing costs drop further as the Federal Reserve weighs another interest-rate reduction to bolster a sagging economy. Fed Chairman Ben Bernanke and his colleagues are scheduled to open a two-day meeting Tuesday afternoon to plot their next move on interest rates.
|
