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The Canadian military has released the names of two soldiers killed in an insurgent ambush on Saturday. They have been identified as Sgt. Darcy Tedford and Pte. Blake Williamson. Both men were members of the 1st Battalion, Royal Canadian Regiment based at eastern Ontario's CFB Petawawa. Their ages and hometowns have not yet been released. Three soldiers who served with the two told The Canadian Press that they have been instructed to not speak publicly for at least a day. The soldiers were guarding a Canadian road construction project west of Kandahar city when they were attacked. They were killed when a rocket-propelled grenade exploded over their heads as they were outside their armoured vehicles. The men were honoured in a ramp ceremony at Kandahar airfield Sunday before their remains were loaded on a military plane for their final journey home.
Maybe the 19th-century Genius of Water centerpiece of the Tyler Davidson Fountain is smart enough to offer some time-saving tips on 21st century construction techniques. With just a day left until the $42.6 million makeover of Fountain Square is unveiled with a splashy 10-hour celebration, the public square at the heart of downtown Cincinnati is still months away from completion. Steve Leeper, the president and chief executive of Cincinnati Center City Development Corp., said the reopening has a "rolling" timetable, with additional elements of the project scheduled for completion over the next six months. Cincinnati Center City Development Corp., known as 3CDC, is the private company that is managing Fountain Square and its redevelopment, "I wish I could tell you there was one reason why," Leeper said.
SEATTLE--(BUSINESS WIRE)--Seattle-based developer LEXAS Companies, which is developing the luxury 30-story ESCALA condominium tower in downtown Seattle, has closed on its $175 million construction loan, the final stage in the project's capitalization. The condominium development loan from Southern California-based Fremont Investment & Loan paves the way for construction of ESCALA, which will be built at the southeast corner of Fourth Avenue and Virginia Street. The 850,000-square-foot ESCALA will be Seattle's largest condominium development. Fremont Investment & Loan's San Francisco/Bay Area office arranged the ESCALA loan. "We feel that this project represents everything a lender wants to see: experienced developers, significant sponsor commitments and a thorough business plan supported by sound underwriting and real estate principals," says Nancy Sulse, VP, Regional Manager of Fremont.
When Kara Homes filed for bankruptcy this month, Amboy National Bank of Old Bridge was listed as the largest creditor with $58.2 million in loans.
When local real estate mogul Solomon Dwek's $400 million empire was frozen by a judge following charges of bank fraud, Amboy was again the largest creditor for $49.7 million. Just as Amboy has been surprised by the loans gone bad, a real estate market in decline could spell financial trouble for other local banks and thrifts that have lent heavily for housing developments and commercial real estate, bank analysts and federal regulators say. Industry analysts recall the savings-and-loan crisis from the late 1980s and worry that a new round of bank bloodletting could start if a once-robust real-estate market founders.
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