francisco

Huffington Post…

This article comes to us courtesy of SF Weekly . By Jonathan Kauffman When Anamika Khanna and Tim Volkema, two of Kasa Indian Eatery’s owners, learned that the Department of Public Works would start taking applications for food-truck permits on Mar. 7, 2011, they camped outside the office for three rainy nights, joining other food-truck owners eager to claim prime locations. Khanna and Volkema had spent weeks scouting locations for their two unbuilt trucks, and they had specific criteria. “We wanted to not block a storefront, not be near an Indian restaurant, and to observe all the rules around sidewalks and parking places,” Khanna said. Most of the spots they chose were in the Financial District, where they could park for a few hours in a busy area, sell lunch, and leave. They filed their permit applications and paid to send notification letters to all businesses within 300 feet of each site. Soon after, Moneshpal Josan, owner of a Subway and a 7-Eleven on Drumm Street, received his notification that Kasa was applying for spots at 50 California and 61 Beale, both close to his shops. He immediately filed a protest, as did several other restaurant owners and FiDi property managers. At the April 2011 hearing, the DPW granted six of the eight locations Kasa had applied for, including 50 California and 61 Beale. Meanwhile, Josan had received notice of four more permit applications, including a coffee-and-pastry truck applying to park directly in front of his 7-Eleven. “This guy wants to block my front view and steal my customers off the sidewalk, and the city has allowed him to apply,” he fumes. Downtown businesses have decided to fight back en masse against the trucks. An informal coalition of lawyered-up restaurateurs and property managers filed nine separate appeals against Kasa’s two FiDi spots, as well as four more appeals against two nearby spots the city had awarded to Doc’s of the Bay, a hamburger truck. An acrimonious showdown took place Wednesday, Dec. 14, at the Board of Appeals, ending in defeat for both food trucks, despite their having followed the DPW process to the letter. The hearing, a de facto town hall on the validity of the city’s new food truck ordinance, demonstrated the fear that downtown businesses are feeling about the food truck scene — and the considerable flaws in the new ordinance as it has been crafted. With dozens more trucks applying to park on the same blocks, the board’s decision last week may determine the future of food trucks downtown. Before Mar. 7, 2011, a food truck owner wanting to park on the street needed to apply to the Police Department for a permit to park at up to five specific spots. The process was expensive — $9,300 for the initial fee — but straightforward, and did not include public input. In late 2010, then-Supervisor Bevan Dufty, seeking to help out the exploding food truck movement, worked with numerous groups to streamline the permitting process, reduce fees, and move it under the aegis of the DPW. The Board of Supervisors unanimously passed the new ordinance in December 2010. Instead of fostering the food truck scene, the Dec. 14 hearing showed that the supervisors may have made it harder — and ultimately more expensive — for trucks to park on the street. Especially downtown. The two spots Khanna and Volkema selected are blocks of tall buildings, with few street-front businesses and no trucks to date. Most of the existing restaurants serve similar food. “There is an oversaturation of one type of food: sandwiches, soups, and salad,” Khanna says — nothing like Kasa’s kati rolls and curry rice plates. The parking places are one-hour metered spots, some in yellow zones, but that didn’t seem to be a problem to Kasa’s owners — dozens of long-permitted food trucks park in identical spaces. Another nonissue, they thought: the Health Department’s requirement to secure an agreement from an existing business to let Kasa’s employees use the bathroom. Kasa paid $5,000 for the permit that was subsequently contested. It named four locations, one of which the DPW rejected before the first hearing. After the hearing, Khanna and Volkema now only have one approved Mission Bay location left on the permit. If they decide to move or change hours when their year is up, they’ll have to repeat the entire process. While Khanna and Volkema assumed they were bringing something new to office workers, downtown restaurateurs saw the Kasa truck as a direct competitor — one whose operating costs were far below their own. “Downtown restaurants’ rent is $9,000-$15,000 a year, and most are quick-service restaurants,” says Alex Aguilar, owner of Orale Orale, two blocks away from 50 California. Kasa may only have been applying to park near him a few hours a day, but those were the hours when Orale Orale does the bulk of its business. Another group anxious to block downtown food trucks are real estate management firms representing building owners and restaurant tenants. They’re convinced that the onslaught of food trucks is going to drive down rents and, ultimately, the value of commercial real estate. The managers have gained the support of the powerful Building Owners and Managers Association (BOMA), whose San Francisco director of government and public affairs, Ken Cleaveland, came to the hearing to speak in favor of the appellants. “The new legislation was supposed to bring life and vitality to parts of the city that didn’t have established food vendors,” he told the SF Weekly in a telephone interview. “I completely concur with that. But the mobile food facilities have descended on downtown with an overwhelming number of permits.” The DPW says 89 applications have been received since Mar. 7, and each one can include up to seven locations; roughly half cite spots in the FiDi. Only 15 of the first batch of permits have been granted, eight of them for downtown sites. With many more applications in the pipeline and energized opposition, there will be many more hearings like last week’s. The Board of Appeals upheld the appeals based on several technicalities, including a bathroom agreement form that Kasa hadn’t had signed. But board members universally condemned the new food-truck legislation for its vague language and potential for economic harm. While the battles heat up in city hearing rooms and along gossip grapevines, Supervisor Scott Wiener, who has taken on Bevan Dufty’s oversight of the food-truck ordinance, has organized a working group to address some of the challenges and gaps in the new legislation. BOMA is involved in the group, which has met once so far, as are the Golden Gate Restaurant Association, and Matt Cohen, founder of Off the Grid. Being discussed, members say, are critical questions like “Should there be a density cap on food trucks downtown?” and “What should we do about metered parking spots?” Then there’s the quandry of what constitutes fair competition: Are Kasa’s kati rolls distinct from ham sandwiches, or should both be considered takeaway food? Khanna and Volkema say that though they are disappointed in the outcome, they remain “resilient and respectful.” Subway owner Josan, meanwhile, is angry at the city for all the time and money he’s losing fighting off the new trucks. “The city administration has handled this very callously,” he says. “Very irresponsible. That’s harsh, but I’ll use that term.” For more news from around town, follow SF Weekly on Twitter .

The rest is here:
Rocky Road: Food Trucks Clash With Downtown Businesses

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CoStar’s People of Note (May 22-28)

May 27, 2011

This week’s People of Note includes the following markets: Atlanta, Dallas/Fort Worth, Denver, Los Angeles, New York City, Phoenix, San Francisco and South Florida. DENVER CBRE Taps Barrett as Global Corporate Services SVP Workplace strategy specialist Sharon Barrett joined CB Richard Ellis in Denver as senior vice president of global corporate services. The 25-year industry veteran is a former senior director at Cushman & Wakefield and founding…

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Federal Reserve’s Actions May Increase Unemployment

April 28, 2011

The Federal Reserve’s purchases of more than $2 trillion in mortgage and U.S. government debt may cause an upswing in unemployment, a top regional Fed official argued Thursday in a new paper that counters the central bank’s position. The forecast by Yi Wen , an assistant vice president and economist at the Federal Reserve Bank of St. Louis, challenges a chorus of pro-purchase research published by the Fed’s Board of Governors in Washington and its regional banks in San Francisco and Boston. The Fed’s $2.3 trillion asset-purchase programs could lead to a 2.2 percent rise in the unemployment rate in the long term, Wen wrote. The economist argued that the increase in bank reserves — a result of the Fed’s buying programs — could lead to an increase in the amount of money flowing through the economy, which in turn would lead to inflation. Over time, that would lead to an increase in joblessness, he reckoned. Some within the Fed — as well as members of Congress, and foreign central bankers and political leaders — have publicly criticized the central bank’s recent initiatives. Detractors say the Fed lacks the tools to withdraw the record stimulus before it causes runaway inflation. Once money is in the system, they argue, it will inevitably lead to rising prices. Fed Chairman Ben Bernanke has countered that the poor state of the economy and near-record unemployment compels the central bank to be aggressive. The Fed has tripled the size of its balance sheet to further bring down interest rates in an effort to spur borrowing and spending. The San Francisco Fed argued in January that those efforts, known as quantitative easing, will create 3 million jobs by 2012 . The most recent round of purchasing, known as QE2 and scheduled to run through June, will lead to 700,000 new jobs, the researchers, who include San Francisco Fed President John C. Williams , forecast in their paper. Fed Vice Chairman Janet Yellen endorsed that research in a January speech to economists in Denver. Bernanke said at his Wednesday press conference that the purchasing programs have been successful and that the number of jobs created as a result have been “significant.” The Boston Fed predicted in November that the Fed’s asset purchases would lead to 700,000 new jobs through 2012 . By purchasing U.S. Treasury obligations and mortgage securities from Wall Street firms, the Fed increases the amount of cash at those banks. Banks are parking $1.47 trillion at the Fed beyond what is required by regulators, Fed data from last week showed. Unused, that stashed cash simply collects interest at a rate of 0.25 percent from the Fed. Fed officials, including Yellen, Bernanke and New York Fed President William Dudley, have said the central bank will be able to drain the excess bank reserves before they lead to significant inflation. But if the Fed cannot successfully manage the exit from their record stimulus program, Wen’s forecast could become a reality. An annual increase of 1 percent in the amount of money in the economy would have “almost no impact on unemployment” during the first five years, Wen wrote. But, later, a growing money supply could lead to a rise in the unemployment rate of 1-2.2 percent, Wen argued. A surge of money in the system would lead to higher prices because the value of money would decline. That would in turn lower growth and increase joblessness, he wrote. The unemployment rate stood at 8.8 percent as of last month , according to the Labor Department. It’s decreased by a full percentage point since November. On Wednesday, the Fed forecast unemployment to average 8.4 to 8.7 percent during the last three months of this year , then falling to 7.6 to 7.9 percent during the fourth quarter of 2012.

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Paul Carr: The Strip Diary, Day Twenty One: From Sin City to Sim City — Tony Hsieh’s Plan to Rebuild Downtown Vegas

April 25, 2011

“So, how are you going to write sarcastically about all of this?” Tony Hsieh makes a good rhetorical point. We’re standing in the Downtown Cocktail Room , the epitome of a hipster San Francisco bar: hot young locals lounging on sofas, sipping cocktails with names like ‘Sniff Happens’ and ‘Persephone’s Pomme’; moody lighting; bathroom stalls with two-way mirrors so you can look out as you pee; half of the people in here work for an Internet company. You know the drill. The only difference is, we’re not in San Francisco. We’re in Las Vegas. And all of these Internet people work for Zappos, the Internet shoe retailer that relocated here from San Francisco in 2004. I’ve been invited to join company CEO Hsieh (pronounced “shay”) and his team for one of their regular Friday night social events so that he can tell me about his big new project. And what does the CEO of a company that was acquired by Amazon for almost a billion dollars do next? He rebuilds downtown Las Vegas, obviously. Since the start of my trip to Las Vegas , I’ve received dozens of emails and tweets encouraging me to get off the strip and explore “downtown”, the area around Fremont Street which formed the town’s original gambling center, before the advent of the Strip. “There’s a thriving arts scene downtown!” some wrote. “There are great bars!”, insisted others. Frankly, though, there seemed to be more than a touch of wishful thinking to the claims: pressed for specifics, most mentioned First Friday — the monthly arts and culture “block party” held downtown on the – uh – first Friday of every month. At a push, a few could identify a specific bar or coffee shop they frequented, but the overall consensus from those I spoke to – cab drivers, waiters, PR people, actors and lawyers alike – was that Vegas is a at heart a small, transient, town yearning for a cultural community. Even Tony Hsieh — who wrote a book called ” Delivering Happiness ” and is capable of putting a positive spin on almost anything – admits that “Vegas isn’t really known for having a sense of culture or community.” But, unlike the cab drivers and waiters and PRs and actors and lawyers, Hsieh is actually in a position to do something about it. Zappos currently employs 1100 people at its main headquarters in Henderson. The company boasts of its culture of happiness and how employees are made to feel part of a giant family. Indeed, on Thursday, en route to a tour of the Zappos campus, I asked my company-supplied driver what first attracted him to the job. “I was living in Las Vegas but all my family was in New York,” he said “People told me that working at Zappos was like joining a family – and it is. Every night I have at least one or two invitations to parties or social events organized by other people from the company. The difficult thing is knowing which ones to say no to.” Comparing those two realities — the uber-social Zappos family (set to double in size in the next two years) and Vegas’ perceived lack of community, particularly downtown — Hsieh saw an opportunity to ‘deliver happiness’ to all sides. When the City Council announced plans to change the location of City Hall, Tsieh made his move, buying the building and announcing plans to move Zappos HQ from Henderson to Fremont East. As Mayor Oscar Goodman told the Las Vegas Review Journal the move “revolutionizes the way downtown will exist in the future… It creates a critical mass of [creative] folks… They’ll be over at the Arts District. They’ll be milling around the downtown and creating energy.” Put simply: the relocation of the Zappos family to Fremont East will inject a ready made community of 2000 people into the area, transforming its social and cultural scene from “burgeoning” to “established” at a stroke. The big move won’t happen until at least 2013, but already the effects have been seen: Zappos employees are starting to look for homes nearer to the new location, and every night after work more and more of them make the journey downtown to see what all the fuss is about. Which is what brings Hsieh and his team to the Downtown Cocktail Room. Come on,” he says, “I’ll give you the tour.” Fremont street is a curious thing – ” Checkpoint Charlie ” as one Zappos-ite likened it – forming a dividing line between the tourist-heavy Fremont Street Experience and the ‘real’ downtown: the burgeoning hub of bars, coffee shops and arts and entertainment venues which make up Fremont East. The effect on crossing from the tourist zone to the local zone is instant, and a little trippy. Suddenly gone are the gigantic plastic cups of booze and the staggering, belching drunks, and in their place swarms a thick cloud of hipsters, munching gourmet hotdogs from curbside food carts and patiently lining up outside drinking hole with names like ” The Beauty Bar “. As Tony and I walked, something started ticking away in my brain. A feeling that I’d been here before, and not just because there’s also a bar called The Beauty Bar in San Francisco’s Mission district. Continuing on, past a sign for 6th Street – “this whole area is closed to traffic at the weekends” — it clicked: the streets of Fremont East feel uncannily like the streets of Austin, Texas during the South by Southwest festival. Stepping inside the bars, though, one is instantly transported West to San Francisco: the inside of Vegas’ Beauty Bar is the spitting image of it’s San Francisco counterpart (later Googling would confirm they have the same owners ). Another recently-opened Fremont East bar that should be in San Francisco, but isn’t, is ” Insert Coin(s) “: essentially a karaoke bar for gamers. Open until 6am, the bar offers multiplayer games on giant flat-screens as well as coin-op arcade classics: The line outside stretched halfway around the block – but, fortunately, I’m with Tony so there’s no waiting. Everyone in Fremont East knows Tony. The bar’s owner comes over to say hello. “You’ve come at a good time,” he tells me when Tony explains that I’m writing about the rebirth of Fremont East, “you’re witnessing the start of something big here.” A block or so away from Insert Coin(s) stands City Hall which seems as good a place as any for Hsieh to spell out his vision, not just for the building — “there are jail cells in there; we’re thinking of turning them into nap rooms, or maybe a speak-easy” — but for the whole of downtown Vegas. “This will be a completely different area in the next five years,” he says, “we’re bringing food, live music, an entertainment scene; we’ve even talked about opening a charter school. Did you ever hear of the game Sim City?” “Of course.” “Well, for us it’s like playing Sim City in real life. One tagline we’ve come up with is ‘from Sin City to Sim City’…” He pauses. “…you know, like adding another little hump on the ‘n’” It’s impossible not to love Tony. Speaking of which, if I were a cynical man, then I’d be convinced that what happened next had been set up in advance. “Excuse me, are you Tony Hsieh?” say the slightly breathless fellow who accosts us as we walked back towards the Cocktail Room. Tony extends his hand, instinctively — clearly he gets this a lot. The man proceeds with his pitch; he’s the founder of a not-for-profit art collective, and was wondering whether Zappos might care to display some of their art. The moment brings all of the pieces of Tony’s vision together: Zappos, local art, downtown Vegas… “Sure,” says Tony, “in fact we’re having drinks at the Downtown Cocktail Room, why don’t you come by and I’ll introduce you to the person in charge of our art.” Like I say, Tony couldn’t have scripted the encounter better. Delivering happiness indeed. Even the Downtown Cocktail Room itself is conveniently on-message, owned as it is by Michael Cornthwaite. Michael and his wife Jennifer have been described as ” the first couple of Fremont East “, responsible for numerous local artistic and cultural initiatives including ” Emergency Arts “, a cultural center, housed within the former Fremont Medical Building. Where once there were waiting rooms and doctors surgeries, now the space has been taken over by dozens of independent artists and retailers. Tony’s tour of Emergency Arts takes me past painters and fashion designers and tattoo parlors and even the headquarters of the ‘Burleseque Hall Of Fame’, each neatly packed into its own space — “look at this: there’s a whole hair salon built into an old waiting room — isn’t that great?” It is great. On the ground floor of the building sits The Beat Coffeehouse which, judging by the number of people who have suggested meeting there during my continuing exploration of off-strip Vegas, has become the de facto social hub of Fremont East. Again, the vibe at Beat is unlike anything I’d experienced in Vegas so far; but very like what I’m used to seeing in places like San Francisco or Austin. (Even the name screams San Francisco, although actually it refers to the fact that the coffeehouse also sells vinyl records.) Finally back at the Cocktail Room, I ask Jennifer Cornthwaite to explain Fremont East’s problem. Why, given the lines around the block at Insert Coin(s) and streets bustling with local hipsters, had so many locals complained to me about the lack of community downtown? I’d asked dozens of self-described locals for suggestions on where the local arts and cultural scene can be found. With the exception of First Friday, none of them had been able to offer specific recommendations. Unless — “were they trying to keep me — a tourist — away?” “No, it’s surprising how few locals even know about these places,” Cornthwaite said, clearly exasperated. “We’re trying to raise awareness, but it takes time.” She’s also keen to persuade out-of-towners to venture down, away from the Strip, she insists, but — another echo from San Francisco — admits that she doesn’t want the area to become flooded with drunken tourists. At the Downtown Cocktail Room, that “people like us” test starts with figuring out how to open the damn door. It’s fun to watch the increasingly drunk procession of tourists passing by, trying to push on the glass wall at the front of the bar to gain access. In fact the real door is a handle-free metal panel tucked away to the left. “We didn’t design it to confuse people,” Michael Cornthwaite insists, “but it’s pretty effective at keeping out drunk people.” (The locals vs tourists attitude is contagious: I hesitated for an embarrassingly long time before deciding to include the ‘secret’ of the door, or even the name in this piece). Another of Jennifer Cornthwaite’s goals is to attract some of the creative talent from the Strip to venues around Fremont East. “Las Vegas has some of the world’s best musicians, and artists and performers. There’s so much artistic and creative talent in the town,” she says. By way of example, Cornthwaite mentions Absinthe — the circus-meets-burlesque show I’ve been raving about for the past two weeks. “A big part of me really wants Caesars to screw it up,” she says, “then we can be like ‘come put the show on here!’ We’d be the perfect venue for it.” She’s not wrong. In the meantime, given the echoes of Austin and San Francisco, surely it’s time for Fremont East to host its own arts and technology festival, to rival South by Southwest. Especially as — paging Portlandia — many early adopters are declaring the original festival “over”. Vegas plays host to the CES conference every January. “Why not pitch Fremont East as a kind of Vegas Fringe for those guys?” I suggest. Cornthwaite likes the phrase “Vegas Fringe”, but as for the other stuff “It’s already happening. During this year’s CES, I asked around the bar, who was in town for CES? It was like — woah — so many of them were. We just have to keep spreading the word.” Fortunately spreading the word is something Tony Hsieh is very, very good at. This, after all, is the man who bought a tour bus once owned by the bass player from Dave Matthews Band and drove around America on a ” Delivering Happiness Tour ” to promote his book. The bus is parked down the street, and Tony offers to give me a ride back to my hotel, stopping only to pick up a gourmet hotdog on the way (price $3, with toppings including pineapple and crushed potato chips). “I always order what I call ‘an underdog’” he says, “that’s where you put the condiments on first, and then the dog on top, so all the stuff doesn’t fall out.” I laugh. Every day millions of people complain about the messiness of hotdog toppings. But the difference between those people and Tony Hsieh is that Tony didn’t just bitch about the problem. He fixed it.

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Video: Taylor Says RIM PlayBook Tablet Has `Number of Flaws’: Video

April 15, 2011

April 15 (Bloomberg) — Chris Taylor, San Francisco bureau chief of technology blog Mashable, talks about Research In Motion Ltd.’s BlackBerry PlayBook tablet computer, which goes on sale next week. Taylor speaks with Margaret Brennan and Scarlet Fu on Bloomberg Television’s “InBusiness.” (Source: Bloomberg)

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Video: Taylor Says RIM PlayBook Tablet Has `Number of Flaws’: Video

April 15, 2011

April 15 (Bloomberg) — Chris Taylor, San Francisco bureau chief of technology blog Mashable, talks about Research In Motion Ltd.’s BlackBerry PlayBook tablet computer, which goes on sale next week. Taylor speaks with Margaret Brennan and Scarlet Fu on Bloomberg Television’s “InBusiness.” (Source: Bloomberg)

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Marc Joffe Named Senior Advisor to Kamakura Corporation

April 12, 2011

NEW YORK, NY–(Marketwire – April 12, 2011) – Kamakura Corporation announced today that Marc Joffe has been named Senior Advisor to Kamakura Corporation. Mr. Joffe will be based in San Francisco and will be part of the company’s client services team supporting existing and prospective customers as they implement and maximize the benefits from Kamakura’s risk management solutions. Additionally he will work closely with Mark Mesler, Managing Director and head of KRIS default probability services on product development efforts. Mr. Joffe is a specialist in the areas of public finance, credit risk and application development.

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Video: Gensler Discusses Redesign of San Francisco Terminal 2

April 7, 2011

April 6 (Bloomberg) — Arthur Gensler, chairman of U.S. architectural firm Gensler, discusses the redesign of San Francisco International Airport’s Terminal 2. Virgin America will fly out of the terminal. (Source: Bloomberg)

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CalPERS Hopes Canyon Can Work Some Magic on its CalSmart CRE Portfolio

April 6, 2011

The California Public Employees’ Retirement System (CalPERS) is planning to transfer management of its CalSmart real estate portfolio from RREEF to Canyon Capital Realty Advisors LLC. The portfolio, which had a market value of $570 million on Dec. 31, 2010, consists of 11 office, industrial and apartment properties in San Francisco, Chicago, Florida and southern and northern California. The transfer would be part of the fund’s broad strategic realignment…

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CalPERS Hopes ‘Magic’ Can Work Some On its CalSmart CRE Portfolio

April 6, 2011

The California Public Employees’ Retirement System (CalPERS) is planning to transfer management of its CalSmart real estate portfolio from RREEF to Earvin “Magic” Johnson’s Canyon Capital Realty Advisors LLC. The portfolio, which had a market value of $570 million on Dec. 31, 2010, consists of 11 office, industrial and apartment properties in San Francisco, Chicago, Florida and southern and northern California. The transfer would be part of the…

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Does This Tax Drive Businesses From San Francisco?

March 30, 2011

Not only is the San Francisco Chronicle lacking the professional courtesy to link to TechCrunch for first reporting the tech industry’s fears about San Francisco taxing stock options– the paper is also missing the broader point in the escalating debate. This isn’t about Zynga and Twitter negotiating a special deal, nor is it about a two-year deferral of payroll tax. Sure, that could keep a few companies and thousands of jobs in the city. But what would really cripple the city’s future economic growth is if every other startup reading this news, grimaces at the idea of haggling with unsympathetic elected officials who don’t seem to want their jobs, and decide instead to follow Mark Zuckerberg’s lead and open their company in Palo Alto or another Bay Area city from day one.

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SF Tech Jobs Climb Near Level Of Dot-Com Peak

March 28, 2011

As technology companies’ soaring valuations draw comparisons to the dot-com days, a new analysis highlights another similarity: The number of tech workers in San Francisco today is nearing its peak in 2000.

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CoStar’s People of Note (March 20-26)

March 25, 2011

This week’s People of Note includes the following markets: Atlanta, Boston, Dallas, East Bay, Long Island, Los Angeles, New York City, Philadelphia, San Francisco and South Bay. LOS ANGELES Lee & Associates Taps Toumazos as Principal Commercial real estate veteran Paulette Toumazos joined Lee & Associates-LA North/Ventura Inc. in Sherman Oaks, CA, as a principal. The 25-year industry professional focuses on the sale and leasing of office…

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CoStar’s People of Note (March 20-26)

March 25, 2011

This week’s People of Note includes the following markets: Atlanta, Boston, Dallas, East Bay, Long Island, Los Angeles, New York City, Philadelphia, San Francisco and South Bay. LOS ANGELES Lee & Associates Taps Toumazos as Principal Commercial real estate veteran Paulette Toumazos joined Lee & Associates-LA North/Ventura Inc. in Sherman Oaks, CA, as a principal. The 25-year industry professional focuses on the sale and leasing of office…

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Video: Baer Says Giants Ticket Sales Surged on World Series Win

March 22, 2011

March 22 (Bloomberg) — Larry Baer, president and co-chief operating officer of the San Francisco Giants, discusses the outlook for the season, ticket sales and sponsorships. Baer speaks with Margaret Brennan at AT&T Park in San Francisco on Bloomberg Television’s “InBusiness.” (Source: Bloomberg)

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Video: Baer Says Giants Ticket Sales Surged on World Series Win

March 22, 2011

March 22 (Bloomberg) — Larry Baer, president and co-chief operating officer of the San Francisco Giants, discusses the outlook for the season, ticket sales and sponsorships. Baer speaks with Margaret Brennan at AT&T Park in San Francisco on Bloomberg Television’s “InBusiness.” (Source: Bloomberg)

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Video: Stamberger Says Silicon Valley Lacks Quake Preparedness

March 16, 2011

March 15 (Bloomberg) — Jeannie Stamberger, associate director of the Carnegie Mellon Silicon Valley Disaster Management Initiative, talks about the need for companies in the San Francisco Bay area to prepare in the event of a major earthquake. She speaks with Emily Chang and Cory Johnson on Bloomberg Television’s “Bloomberg West.” (Source: Bloomberg)

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Lodging REIT Buys 2 Four Seasons Hotels for $95M

March 14, 2011

The Four Seasons Silicon Valley in metro San Francisco and Four Seasons Jackson Hole in Wyoming have a new owner. Chicago, IL-based Strategic Hotels & Resorts Inc. (NYSE: BEE) closed on its purchase of the 324-room portfolio from Woodbridge Co. Ltd. in exchange for 15.2 million shares of common stock at $6.25 per share valued at $95 million to close the deal. Strategic, a hotel and resort real estate investment trust, also issued 8 million shares…

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Video: Blanch Expects 6 Month Oil Supply Disruption From Libya

March 11, 2011

March 11 (Bloomberg) — Francisco Blanch, global head of commodities research at Bank of America-Merrill Lynch, discusses the impact of the earthquake in Japan and unrest in the Middle East on oil prices. Blanch talks with Betty Liu on Bloomberg Television’s “In the Loop.” (Source: Bloomberg)

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Traction Hires Nellie Newman to Lead Client Services

March 8, 2011

SAN FRANCISCO, CA–(Marketwire – March 8, 2011) – Nellie Newman has joined Traction, an advertising agency and innovation consultancy in San Francisco, as Director of Client Services. The agency has experienced rapid growth in the wake of being named the Interactive Agency of the Year in 2009 by BtoB Magazine and the runner-up for that award in 2010, and services clients such as Adobe, Shutterfly, and Intuit.

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Video: Dyer Says Technology Companies Moving to Urban Areas

March 5, 2011

March 4 (Bloomberg) — Colin Dyer, chief executive of Jones Lang LaSalle Inc., talks about technology companies’ demand for office space in San Francisco, Chicago and New York. He speaks with Emily Chang on Bloomberg Television’s “Bloomberg West.” (Source: Bloomberg)

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Video: Dyer Says Technology Companies Moving to Urban Areas

March 5, 2011

March 4 (Bloomberg) — Colin Dyer, chief executive of Jones Lang LaSalle Inc., talks about technology companies’ demand for office space in San Francisco, Chicago and New York. He speaks with Emily Chang on Bloomberg Television’s “Bloomberg West.” (Source: Bloomberg)

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CoStar’s People of Note (Feb. 27-March 5)

March 4, 2011

This week’s People of Note includes the following markets: Atlanta, Cleveland, Chicago, Dallas/Fort Worth, Houston, Inland Empire, Long Island, Minneapolis, Nashville, Orange County, Philadelphia, San Diego, San Francisco and St. Louis. ATLANTA Grubb Boosts Office, Retail Groups With New Hires Grubb & Ellis Co. added two top real estate professionals to its Atlanta office. Sean Moynihan joined the office group as senior vice president and Michael…

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Oracle Wins $1.3 Billion Over Stolen Files

March 3, 2011

SAN FRANCISCO (Reuters) – SAP AG (SAPG.DE: Quote, Profile, Research, Stock Buzz) has been ordered to pay Oracle Corp (ORCL.O: Quote, Profile, Research, Stock Buzz) $1.3 billion for stealing files in Silicon Valley’s priciest legal controversy — and San Francisco’s top federal prosecutor may raise the stakes even more. Newly installed Attorney Melinda Haag in San Francisco is now personally reviewing a criminal copyright investigation, which is independent of the civil case won by Oracle last year, one attorney familiar with the probe said. The decision on whether to prosecute that case comes as Haag tries to make Northern California a hub of white collar enforcement that rivals New York. And it is just those types of headline-grabbing, high impact prosecutions that observers say have been lacking from federal gumshoes in the Bay Area. In an interview with Reuters, Haag, who took over the job last August, said big prosecutions send a message, and it is important for her office to send them. “High profile cases have deterrent value just because people are paying attention,” she said. Haag would not confirm or deny any criminal investigation surrounding SAP. Spokespeople for SAP and Oracle declined to comment. With its robust financial services sector, high-tech giants and biotech start-ups, Northern California has long been viewed as a natural location for corporate crime enforcers. But when the FBI recently banged down doors in Silicon Valley to nab insider trading defendants, San Francisco federal prosecutors found themselves making perfunctory court appearances on bail, before the cases were shipped back East for the heftier legal battles. The realm of insider trading — particularly the case around hedge fund Galleon — is probably the most glaring example of Manhattan federal prosecutors taking the lead over their Bay Area colleagues. Hedge fund founder Raj Rajaratnam heads to trial in New York next week, even though a swath of the alleged criminal conduct, related guilty pleas, and a probe of expert networks used by hedge funds have come from Silicon Valley, generating strong business for California defense lawyers. Haag flashes a wry grin at the Galleon case and notes that New York took charge before she became U.S. Attorney. “If the misconduct occurred here, the witnesses are here, and the evidence is here, the case should be handled here,” Haag said. “New York may beg to differ, and we may have to have some conversations down the road.” Ten years ago, current FBI director Robert Mueller was U.S. Attorney in San Francisco and the office was front and center in several cases, eventually taking a big role in the Enron Task Force. But under Mueller’s successor, Kevin Ryan, several experienced white collar prosecutors — including Haag — left for private practice. White collar crime case charges dropped by half in five years to a low of 62 in fiscal year 2005, according to U.S. Department of Justice statistics. The case figures started to come back up under Joseph Russoniello, Haag’s immediate predecessor, but the best known recent Bay Area federal case is the upcoming perjury trial against baseball home run king Barry Bonds over performance enhancing drugs. Haag’s ambitions also face some budget realities. Eight job offers to prospective prosecutors — which were already accepted by the candidates — have been held up in Washington due to a hiring freeze, Haag said. “HIGH BAR” IN SAP CASE A criminal copyright case against SAP could be tough. The allegations against SAP have been public since Oracle sued in 2007, claiming that an SAP subsidiary wrongfully downloaded millions of Oracle’s files. SAP is seeking to reduce the $1.3 billion verdict. Even though SAP admitted to liability in the civil case, if federal prosecutors brought a case against the company or any individuals they would have to prove an element of willfulness that Oracle didn’t, said Eric Goldman, a professor at Santa Clara University School of Law. “Willfulness in a criminal context is a very high bar,” Goldman said. Speaking generally, Haag said prosecutors’ speed is an important factor in encouraging tech companies to come forward when they are hacking victims. Otherwise they may remain silent. “Sometimes these companies do make a business decision that they don’t want to report it; they don’t want the publicity,” she said. Haag has added two prosecutors to a group devoted to health care fraud in the district, which has been a Justice Department priority nationally. It was part of a larger office reorganization that had some prosecutors still settling into new offices in January. That process, Haag acknowledged, led to lost time, and she knows that charging cases is the key to publicizing her office’s efforts. “My mantra with people here is this is a wonderful case, a great case that you’re investigating, and no one knows about it,” Haag said. “So let’s get it resolved.” (Reporting by Dan Levine, editing by Gerald E. McCormick) Copyright 2011 Thomson Reuters. Click for Restrictions .

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JW Marriott San Francisco Sells for $96 Million

February 28, 2011

Thayer Lodging Group purchased the 337-room JW Marriott San Francisco Union Square Hotel at 500 Post St. in San Francisco from Ashford Hospitality Trust Inc. for $96 million or $284,866 per room. Built in 1987, the 21-story, 297,170-square-foot Marriott is at the corner of Post and Mason streets in San Francisco County. It includes a 14,000-square-foot meeting/event space, 4,350-square-foot ballroom and conference center and two food and beverage…

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Michael Shields Appointed General Manager of Salem Radio Stations in San Francisco

February 24, 2011

CAMARILLO, CA–(Marketwire – February 24, 2011) –  Salem Communications ( NASDAQ : SALM ) announced Michael Shields has been appointed as General Manager for its two radio stations in San Francisco,  KFAX (1100 AM) and KDOW (1220 AM) .

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Kimpton Sells Argonaut Hotel in San Francisco for $84M

February 24, 2011

Kimpton Hotel & Restaurant Group LLC sold the 252-room Argonaut Hotel in the Fisherman’s Wharf area of San Francisco, CA, for $84 million, or approximately $333,333 per room. Pebblebrook Hotel Trust, the buyer, assumed a $42 million secured loan that matures next March and paid the rest in cash. The 179,688-square-foot, four-story, boutique-style hotel is at 495 Jefferson St. It includes 8,000 square feet of meeting space and the 170-seat Blue…

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Video: Thiel Sees Permanent Shift in Companies Staying Private

February 4, 2011

Feb. 4 (Bloomberg) — Peter Thiel, head of Clarium Capital Management LLC and founding investor in PayPal Inc. and Facebook Inc., discusses trends in initial public offerings for technology companies. Thiel spoke at a panel in San Francisco yesterday. Bloomberg’s Erik Schatzker reports. (Source: Bloomberg)

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Video: Cuggino Likes Gold, Swiss Franc, FedEx, State Street

January 21, 2011

Jan. 21 (Bloomberg) — Michael Cuggino, president and portfolio manager at Permanent Portfolio Funds in San Francisco, talks about his investment strategy and some of the holdings of the Permanent Portfolio fund, including gold, the Swiss franc, FedEx Corp. and State Street Corp. Cuggino talks with Lisa Murphy on Bloomberg Television’s “Fast Forward.” (Source: Bloomberg)

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BNP Paribas Forms New Generalist and Middle-Markets Sales Team

January 12, 2011

NEW YORK, NY–(Marketwire – January 12, 2011) – BNP Paribas Corporate and Investment Banking is pleased to announce the launch of its new Generalist and Middle-Markets Sales team with the hire of Terry Salzer. Terry joins BNP Paribas in San Francisco as a director and reports to Mallory Brooks and Patrick McKee in New York and to Ken Austin in San Francisco. The team is expecting to hire an additional nine members by the end of Q1, 2011.

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More Property Sales Expected in More Markets In 2011 As Investors Work Up Appetite for Risk

December 16, 2010

Institutional investors have remained notoriously selective about the types of commercial real estate assets and markets they buy during the country’s choppy economic recovery in 2010, with little tolerance for properties with high vacancies — or any, outside a handful of core markets for that matter. Well-leased, steady income-producing commercial buildings for sale in Washington, D.C., New York, Boston, and San Francisco have fetched huge prices…

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Credit Rating Agencies’ Reports Ruled To Be Protected Speech

December 13, 2010

Ratings by Moody’s Investors Service Inc., Standard & Poor’s and Fitch Ratings Ltd. described as “wildly inaccurate” in a $1 billion lawsuit are protected speech, a California judge said in a tentative ruling. Judge Richard Kramer in San Francisco state court said yesterday that the companies’ ratings of three structured investment vehicles that the California Public Employees’ Retirement System lost money on are a form of speech about an issue of public interest that is protected under a state law designed to fend off cases meant to chill public debate.

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Former 49ers QB, Owner Hope to Score Luxury Hotel at Future NFL Stadium

December 13, 2010

Former NFL quarterback great Joe Montana and his investment group, which includes former San Francisco 49ers owner Edward DeBartolo, Jr., are interested in developing a luxury hotel and entertainment center on a site in Santa Clara near the 49ers’ planned…

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Hotel REIT To Pay $143 Million for Le Meridien San Francisco

December 13, 2010

Chesapeake Lodging Trust, a hotel real estate investment trust, agreed to purchase Le Meridien San Francisco, a 360-room property in San Francisco, CA, from a subsidiary of HEI Hotels and Resorts for $143 million or $397,222 per door. The deal is set…

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Hotel REIT To Pay $143 Million for Le Meridien San Francisco

December 13, 2010

Chesapeake Lodging Trust, a hotel real estate investment trust, agreed to purchase Le Meridien San Francisco, a 360-room property in San Francisco, CA, from a subsidiary of HEI Hotels and Resorts for $143 million or $397,222 per door. The deal is set…

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Facebook Derivatives? As Shares Soar, Investors Cash In

November 24, 2010

Nov. 24 (Bloomberg) — Facebook Inc.’s surging valuation is spurring shareholders to slice and dice their stock, giving investors everywhere from Silicon Valley to Wall Street a chance to bet on the company. EB Exchange Funds LLC, based in San Francisco, as well as New York firms Felix Investments LLC and GreenCrest Capital LLC, have opened Facebook funds for investors looking to get a piece of the social-networking company and its half-billion users.

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Avalon Rare Metals (TSE:AVL) Exhibiting at The San Francisco Hard Assets Investment Conference November 21 and 22, 2010

November 21, 2010

Avalon Rare Metals (TSE:AVL) Exhibiting at The San Francisco Hard Assets Investment Conference November 21 and 22, 2010

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Video: Comcast’s Smit Says TV App Will Help Speed Up Innovation

November 16, 2010

Nov. 16 (Bloomberg) — Neil Smit, president of Comcast Corp.’s cable unit, discusses the company’s new Xfinity TV app. The app will enable Xfinity digital customers to watch TV shows and movies directly on Apple Inc.’s iPad either at home or on-the-go. Smit speaks with Emily Chang on Bloomberg Television’s “Fast Forward.” They speak in San Francisco at the annual Web 2.0 Summit. (Source: Bloomberg)

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CoStar’s People of Note (Nov. 7-13)

November 12, 2010

This week’s People of Note includes the following markets: Boston, East Bay, Houston, Los Angeles, Salt Lake City, San Francisco and South Bay. HOUSTON Transwestern, Page Partners Form Retail Mgmt. Joint Venture Transwestern formed a strategic…

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San Francisco Bay Area Agency’s Robert Fakhimi Elected to Head MassMutual’s General Agents Association

November 9, 2010

WALNUT CREEK, CA–(Marketwire – November 9, 2010) –  The San Francisco Bay Area Insurance Agency LLC ( www.sfbaa.com ), a Massachusetts Mutual Life Insurance Company (MassMutual) general agency based in Walnut Creek, today announces that General Agent and CEO Robert Fakhimi has been elected president of the MassMutual General Agents Association. During his one-year term, Fakhimi will head the 90-member independent Association which helps provide MassMutual corporate with information from the field, among other responsibilities.

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San Francisco Bay Area Agency’s Robert Fakhimi Elected to Head MassMutual’s General Agents Association

November 9, 2010

WALNUT CREEK, CA–(Marketwire – November 9, 2010) –  The San Francisco Bay Area Insurance Agency LLC ( www.sfbaa.com ), a Massachusetts Mutual Life Insurance Company (MassMutual) general agency based in Walnut Creek, today announces that General Agent and CEO Robert Fakhimi has been elected president of the MassMutual General Agents Association. During his one-year term, Fakhimi will head the 90-member independent Association which helps provide MassMutual corporate with information from the field, among other responsibilities.

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CoStar’s People of Note (Oct. 24-30)

October 29, 2010

This week’s People of Note includes the following markets: Atlanta, Baltimore, Boston, Charlotte, Chicago, Cincinnati, Cleveland, Columbus, Houston, Jacksonville, National, North Carolina, San Francisco, Southwest Florida, Tampa and Virginia. Colliers…

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Video: Stats Support a Lincecum Versus Lee Pitchers Duel: Video

October 27, 2010

Oct. 27 (Bloomberg) — Bloomberg’s Michele Steele takes a look at tonight’s pitching matchup for Game 1 of Major League Baseball’s World Series. The San Francisco Giants will send Tim Lincecum to the mound to face the Texas Rangers’ Cliff Lee in the opener of the best-of-seven series. (Source: Bloomberg)

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Video: Marshall Calls Apple’s Gross Margins, IPad `Blemishes’: Video

October 19, 2010

Oct. 19 (Bloomberg) — Brian Marshall, an analyst at Gleacher & Co., discusses Apple Inc.’s fourth-quarter profit reported yesterday and forecast. The maker of Mac computers, iPod music players and iPhone mobile devices said profit rose 70 percent to $4.31 billion, or $4.64 a share, on sales of $20.3 billion. Marshall speaks from San Francisco with Deirdre Bolton on Bloomberg Television’s “InsideTrack.” (Source: Bloomberg)

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Video: Jones Sees No `Bubble’ in Socially Responsible Investing: Video

October 4, 2010

Oct. 4 (Bloomberg) — Kevin Jones, founder of Good Capital and organizer of the the 3rd annual Social Capital Markets Conference in San Francisco, talks about interest and growth in socially responsible investing. Jones speaks with Cris Valerio on Bloomberg Television’s “InBusiness With Margaret Brennan.” (Source: Bloomberg)

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