NEWS
2/5/2010 10:09:00 AM
Ticker: Feb. 5
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Metro Lofts, a long-planned mixed-income housing development that Sherman and Associates Inc. had hoped to start March 1, may be delayed because an Irvine, Calif.-based tax-credit syndicator backed out of the deal. Minneapolis-based Sherman had tapped WNC & Associates Inc. to purchase low-income housing tax credits awarded to the project located north of Vine Street between Second and Third streets downtown. Jackie Nickolaus, Sherman's vice president of development, said Thursday that the company is exploring its options to move the four-story 111-apartment unit project forward and should have more details next week.
Meredith Corp. announced yesterday that it has formed a strategic brand licensing and marketing alliance with Lagardère Active. Under terms of their agreement, Lagardère, which provides editorial content for Greek readers, as well as new opportunities for advertisers and marketers who seek to reach consumers at a key decision-making time in their lives, will join Meredith in providing a license to its Parents brand in Greece.
The U.S. Center for Citizen Diplomacy has announced the launch and expansion of resources and search capabilities available on its Web site. The online database of nonprofit U.S. citizen diplomacy organizations has grown more than 300 percent on a year-over-year basis to include more than 1000 resources and has added a new user-friendly search function to help users research and navigate the expanded options. To learn more, visit http://tinyurl.com/y9es4yg.
Tyson Foods Inc., a U.S. meat producer, reported today a larger-than-expected first quarter profit, which was bolstered by operating efficiencies for beef and pork and lower grain costs for its chickens. The Springdale, Ark.-based company reported first-quarter earnings of $160 million, or 42 cents per share, beating Wall Street analysts' average expectations of 18 cents, Reuters reported. Revenues increased to $6.64 billion from $6.52 billion on a year-over-year-basis.
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