Tuesday, May 3, 2005

Most heroin sold in Europe comes from Afghanistan’s poppies. This past week, the 2005 opium harvest was in full view and going full speed in Afghanistan. The cultivators gathering resin from the crop are operating even near the main road through Kandahar and the farmers are out gathering resin from opium poppies in full view.

Last year 80% of the world’s opium came from Afghanistan and production is up over 239% since 2003, according to U.S. government estimates. Afghanistan is the world’s largest producer of illegal drugs.

In 2002 Super Bowl ads, the White House sent out the message that “drugs fund terrorists”. Doug Wankel, a former U.S. Drug Enforcement Administration (DEA) official, says the opium industry is “financing terrorism. It’s financing subversive activities. It’s financing warlordism… And if it’s a threat to the government of Afghanistan, it’s a direct threat to the national security interests of the United States.”

“The Bush administration has decided not to destroy the opium crop in Afghanistan,” stated a U.S. intelligence official returning from Afghanistan in relation to the 60% smaller 2002 crop. The source, who requested that he not be identified, noted “U.S. forces could destroy the crops using aerial spraying techniques, but no such actions are planned.”

U.S. plans to spray the crops were canceled at the request of Afghan President Hamid Karzai, who has called for jihad or “holy war”, but is concerned that aerial spraying could be harmful to the health of Afghan villagers. The U.S. claims that the spraying would be safe, but is granting Karzai’s request.

Karzai has indicated that he may change his mind if other U.S. strategies fail to halt the opium. Congress budgeted $774 million for anti-drug operations in Afghanistan just this year.

The CIA reports in From Flowers to Heroin that it takes 10 kg of opium to make 1 kg of 90% pure heroin. The CIA states that impurities are introduced into the processed heroin before it hits the street, making the purity of the end consumer product about 40%. That implies that 10 kg of opium makes about 2.25 kg of 40% pure heroin.

The Guardian reports that the 2002 opium harvest was 3400 metric tons. Using the conversion supplied by the CIA, 2002’s 3400 opium harvest could be converted into 765 metric tons of heroin. According to the International Narcotics Control Board, the 2003 opium harvest was 3600 metric tons. Using the estimated 239% increase of the present harvast over 2003, it means that the 2005 harvest is about 8600 metric tons.

The 2002 street price of heroin in the UK was about 60 £ per GRAM, or (assuming the present 1.89 USD to 1 £ exchange) 113.40 USD per GRAM. As the supply goes up the price will come down some, so for this calculation only the 2002 figures will be used. If all the opium harvest is converted into heroin and all of it is sold at the UK street price, the total street value of the harvest is 86.7 billion USD. (765 metric tons x 1000 kg/metric ton x 1000 grams/kg x 113.4 USD/gram = about 86.7 billion USD.) To the extent the 2002 numbers are valid today, the street value of the 2005 harvest should be roughly twice the street value of the 2002 harvest, about 173 billion USD.

To put these numbers in perspective, the total market capitalization of Ford, General Motors and Daimler Chrysler combined is about 76 billion USD. The total market capitalization of Toyota and Honda combined is about 167 billion USD.

The Financial Action Task Force (FATF) was formed to promote harmonization of international antimoney laundering (AML) laws. Despite the fact that tens of billions of USDs are generated from the Afgan opium harvest alone, the FATF has not added Afghanistan to its blacklist of uncooperative nations. One has to wonder, therefore, what the poppy farmers are doing with their share of the money that escapes the notice of the banking system and the FATF.

Retrieved from “https://en.wikinews.org/w/index.php?title=2005_Afghan_opium_harvest_begins&oldid=4658512”

Are you into sports? Well, would it be more exciting if you can not only enjoy the sports you love, but also cheer on your favorite team and make money out of it? Betting on sports allows you to not only enjoy the game, but make it more exciting by injecting it with some sports betting. When this is done responsibly, you not only become a spectator of the sports you love, but you are also able to become part of it. And if you are good in analysis and have great inside knowledge of the sports, with added luck you can actually make a lot of cash bybetting on sports.

Here are the types of bets in bookmaker sites in the US which you can choose from. Enjoy and good luck with betting on sports.

The Types of Betting on Sports in US Bookmaker Sites # 1: Run line, puck line or goal line bets

This type of betting is an option and is given as an alternative to people who play straight up/moneyline prices in the games of baseball, hockey and soccer. These systems showcase bets which are at a fixed point spread. The run line, puck line or goal line bets give higher payouts on the favored and lower payouts if you choose the underdog team. The rates, of course, are compared to the moneyline payout system.

The Types of Betting on Sports in US Bookmaker Sites #2: Future wagers

Okay, so betting is pretty much betting on the future outcome of an event. However, in this particular description, it is that event which will happen in the long term timesheet and is gauged by the passing of weeks or months. An example of this is in the NFL. As soon as the season begins, you can already have future wagers, specifically betting on who will win the Super Bowl. The season of the NFL starts in September but the champion would be announced in February so the payout will be given only at the time. The payout in this type of wager is huge.

The Types ofBetting on Sportsin US Bookmaker Sites #3: Head to head

In this type of betting, the bettor tries to correctly guess the result of the competing teams going against each other rather than the overall result. Sometimes this is called ending.

The Types of Betting On Sports In The US Bookmakers Site #4: Totalizators

Sometimes, this is called flexible rate bets. Totalizors make odds which are changing in actual time based on the exchange of the results of a game. These outcomes take into consideration the return rate of the US bookie that is offering the bet.

Monday, March 20, 2006

Fears of contaminated bone and skin grafts are being felt by unsuspecting patients following the revelation that funeral homes may have been looting corpses.

Janet Evans of Marion, Ohio was told by her surgeon, “The bone grafts you got might have been contaminated”. She reacted with shock, “I was flabbergasted because I didn’t even know what he was talking about. I didn’t know I got a bone graft until I got this call. I just thought they put in screws and rods.”

The body of Alistair Cooke, the former host of Masterpiece Theatre, was supposedly looted along with more than 1,000 others, according to two law enforcement officials close to the case. The tissue taken was typically skin, bone and tendon, which was then sold for use in procedures such as dental implants and hip replacements. According to authorities, millions of dollars were made by selling the body parts to companies for use in operations done at hospitals and clinics in the United States and Canada.

A New Jersey company, Biomedical Tissue Services, has reportedly been taking body parts from funeral homes across Brooklyn, New York. According to ABC News, they set up rooms like a “surgical suite.” After they took the bones, they replaced them with PVC pipe. This was purportedly done by stealth, without approval of the deceased person or the next of kin. 1,077 bodies were involved, say prosecutors.

Investagators say a former dentist, Michael Mastromarino, is behind the operation. Biomedical was considered one of the “hottest procurement companies in the country,” raking in close to $5 million. Eventually, people became worried: “Can the donors be trusted?” A tissue processing company called LifeCell answered no, and issued a recall on all their tissue.

Cooke’s daughter, Susan Cooke Kittredge, said, “To know his bones were sold was one thing, but to see him standing truncated before me is another entirely.” Now thousands of people around the country are receiving letters warning that they should be tested for infectious diseases like HIV or hepatitis. On February 23, the Brooklyn District Attorney indicted Mastromarino and three others. They are charged with 122 felony counts, including forgery and bodysnatching.

Retrieved from “https://en.wikinews.org/w/index.php?title=Looted,_possibly_contaminated_body_parts_transplanted_into_USA,_Canadian_patients&oldid=4673663”

Tuesday, August 23, 2005

A man missing from a camping ground in southern Utah in the Western US since July 30 was found in Australia. His automobile was found in a campground of Dixie National Forest with a note that he would be back in a few hours. An extensive search and rescue operation was conducted to try to locate this hiker by the Washington County Sheriff’s Office in Utah.

Investigators in the Sheriff’s Office were able to track him down to Cairns, Queensland. Apparently before he was “missing”, he bought a one-way ticket to Australia. Bryan Butas, the missing hiker, apparently had been under a great deal of stress and “got sick of it all”, according to a telephone interview by the Associated Press.

Butas has been charged with insurance fraud, a second-degree felony, by Washington County Attorney Brock Belnap. This was because Butas plotted to obtain a $250,000 life insurance policy before faking his own disappearance. He has also been given a bill for $20,000 by the Washington County Sheriff’s Office for their search and rescue operations on his behalf.

His wife and children have since his disappearance moved to the wife’s parent’s home in Ohio. Butas’s parents came to Southern Utah to help in the search and were “embarrassed and shocked” to learn their son had merely run away from marital and financial difficulties, Washington County Sheriff Kirk Smith said.

Washington County Sheriff Sgt. Jake Adams said his investigation included tracing an application Butas made for a passport, his purchase of a one-way airline ticket to Australia, and the life insurance policy that names his wife and children as beneficiaries. On August 18, Adams said Butas’s mother called him to say her son had called home the evening of August 11, several days after the search was officially called off for the missing man. Butas asked his mother for money and an airline ticket home, which she sent.

Butas has since been checked into the Veteran’s Administration Hospital in Brecksville, Ohio, according to Adams, but will shortly return to Utah.

Retrieved from “https://en.wikinews.org/w/index.php?title=Hiker_missing_from_US_state_of_Utah_wilderness_found_in_Australia&oldid=3130263”

You need to insure a number of important things in your life. You are required to have insurance for your car and your home in order to legally own and use that kind of property. It is also necessary to have health insurance and life insurance. There are a lot of other things you can insure, but these are the most important to have covered in case of an accident.The nature of insurance is to take care of you personally and financially if there is an accident. Sometimes people scoff at the idea they are paying hundreds and thousands of dollars yearly for something they may never use if they are a safe, healthy person. In the event something does go wrong however, coverage can save you from enormous costs, sometimes so expensive you could go into short or long-term debt because of it.Car insurance is necessary in order to be able to drive your car. If you are pulled over for any reason and you are not able to provide proof that you are currently insured, then you will either get a ticket or be taken to jail. If you do not have updated information in your car, you will get fined. In the event of an accident, without being covered you will often be required to pay for damages for the other party if you are at fault. You will also have to pay for your own damages regardless of whether it was your fault or not. This can be extremely expensive. When covered, the only thing you pay is your deductible.Not having home insurance is simply irresponsible. It is necessary for legal reasons but also making sure that one of the largest investments you will ever make in your lifetime is protected. You never know what will go wrong. Coverage pays for everything from a burst pipe in your plumbing to a tree in your roof. It can also pay for necessary updates before an accident happens. You may also want to supplement your plan with separate coverage for flooding, which is usually not included in many plans.Health and life insurance is also important to have. Usually these are offered through your employer and the cost of these plans comes out of your paycheck. In case you get into an accident, these plans with help cover a significant portion of your medical bills and reimburses you for financial losses if youre out of work for a long time. In a fatal accident, a life plan will make sure your family is financially covered when they no longer will have your income to rely on. If you are not currently employed or work independently you are able to pay for coverage with an outside company.If you are concerned you are paying too much for insurance, know that this is a competitive market and there are a lot of companies vying for your business. You can secure a low rate that gives you the maximum benefits for car insurance, home insurance, and health insurance. Many companies offer programs where you can bundle a plan together and pay a lower premium in order to save you money and keep you covered in several areas of your life. Shop around. You dont have to pay too much money to get what you need.

Buffalo, N.Y. Hotel Proposal Controversy
Recent Developments
  • “Old deeds threaten Buffalo, NY hotel development” — Wikinews, November 21, 2006
  • “Proposal for Buffalo, N.Y. hotel reportedly dead: parcels for sale “by owner”” — Wikinews, November 16, 2006
  • “Contract to buy properties on site of Buffalo, N.Y. hotel proposal extended” — Wikinews, October 2, 2006
  • “Court date “as needed” for lawsuit against Buffalo, N.Y. hotel proposal” — Wikinews, August 14, 2006
  • “Preliminary hearing for lawsuit against Buffalo, N.Y. hotel proposal rescheduled” — Wikinews, July 26, 2006
  • “Elmwood Village Hotel proposal in Buffalo, N.Y. withdrawn” — Wikinews, July 13, 2006
  • “Preliminary hearing against Buffalo, N.Y. hotel proposal delayed” — Wikinews, June 2, 2006
Original Story
  • “Hotel development proposal could displace Buffalo, NY business owners” — Wikinews, February 17, 2006

Thursday, March 2, 2006

Buffalo, New York —In an unanimous vote, the City of Buffalo‘s Planning Board voted to table the Elmwood Village hotel Proposal, postponing voting on legislation for up to 30 days.

The Board said its decision was due to the lack of public involvement, saying that there have not been enough meetings.

The Elmwood Village Hotel is a proposed project by Savarino Construction Services Corporation and was designed by Karl Frizlen of The Frizlen Group. The hotel would be placed on Elmwood and Forest Avenues in Buffalo, New York. In order for the hotel to be built, at least five buildings, that include both businesses and residents, must be demolished.

The Forever Elmwood Corp. is a Buffalo-based non-profit organization founded in 1994. Justin Azzarella, the Executive Director for the organization voiced support for the proposal, stating: “I am here today to lend Forever Elmwood’s support the hotel project. Particularly, Forever Elmwood is encouraged by the fact that this building follows the more stringent Elmwood Village Design Guidelines. We have been speaking with Savarino Construction, and they have promised us [Forever Elmwood] that they will engage the community further, including the surrounding Block Clubs and businesses. For that reason, while Forever Elmwood is in support of this project and the type of project that it is, we are asking also that the project be tabled so that the community can be further engaged. Specifically the surrounding Block clubs which include the Granger, Claremont, Asland and The Lincoln Parkway Block Clubs.”

“Because of the excellent work that Karl does and the game plan that they have, I think its an ideal use of this particular location. I think that this particular type of development needs to be encouraged and promoted as opposed to roadblocked,” said a man who owns five properties near the proposal site.

However, Evelyn Bencinich, a resident of Granger Place and whose house would be located directly behind the hotel said, “My property value will be depreciated or non-existent because no one is going to want to live behind a multi-story hotel. We are facing up to a year of noisy and dangerous demolition and construction. Children, pets and even drunk rebellers could wander on site and get hurt. Traffic tie-ups caused by large machinery and garbage bins is inevitable. Where will pedestrians walk? We could experience increased unsanitary flooding in our yards and basements due to the digging and cementing for the underground parking garage. Rats will be displaced into the immediate neighborhoods and be in great abundance. Once we get past the year of nightmare construction, what if you build it and they don’t come? We could ultimately have a seven million dollar rooming house on our corner.”

Patty Morris, co-owner of Don Apparel with Nancy Pollina at 1119 Elmwood also asked that the project be tabled saying, “this has only been public knowledge for less than two weeks and the public never saw the redesign. How can you vote on anything that no one has seen yet? The Board cut off Morris saying, “so specifically you don’t have any problem with it [the design] you just…” Morris then said, “Oh I am totally against this project, but thats besides the point isn’t it.”

The planning board is also concerned that the current design may still be too big.

At one point Board member Susan Curran Hoyt said, “we know you’ve cut down your number of rooms on this project, but we still see it doesn’t seem to fit the description of a ‘botique’ hotel,” and asked Eva Hassett, Vice President of Savarino Construction, “we wonder if you could reduce the rooms further.”

“One thing I didn’t talk about was the price levels of these rooms and that will be important to know. The room rate will be somewhere between US$120 and $160 a night, which is about the same price of the Hampton Inn down town and the smaller you make the hotel, the more expensive the rooms will get. We believe that we’ve made a good compromise in terms of the size of the hotel and perhaps botique means different things to different people,” said Hassett.

The board was also concerned that there is not enough parking asking, “are there alternative plans for valet parking off-site, in the event that you have a full hotel or a large event going on?”

“We are exploring several possibilities with respect to additional parking for valet and parking near-by,” replied Hassett. “We are also exploring the possibility of using the rear of 1105 Elmwood for additional parking, which would give us an additional ten or eleven spaces.”

The new design has a total of 55 parking spaces for 72 rooms, with 39 of them underground and the rest on ground level.

Hassett also said that a “parking study” will be done on the area.

Concerns that the second floor of the hotel will be too close to the property of 605 Forest were also brought up. The board asked how far the hotel would be from the property and Karl Frizlen replied saying it would “be approximately five feet from the property line,” but he also admitted that, “I do not know exactly how close the house next door” will be from the hotel, but did say “I think the house is about four or five feet away from the property line and we [the hotel] sit right on the property line.”

The board is concerned the setback from the property is not enough saying the space between the building and the hotel is “pretty narrow.”

The City’s Common Council also agreed to table the proposal also citing the need for more public engagement and the need for more organizations to respond including the Buffalo Preservation Board and the Office of Historic Preservation.

During that meeting, Hassett also said the proposal to try and get a variance to obtain the properties of 605 and 607 Forest were “now off the agenda.”

The Common Council is expected to meet and hold a public hearing about the project and the rezoning of the properties to be demolished (1119-1121 Elmwood) on Tuesday March 7, 2006 at 2:00 p.m. in Council Chambers at City Hall. At the moment the properties are not zoned for a hotel.

Retrieved from “https://en.wikinews.org/w/index.php?title=City_Planning_Board_postpones_decision_on_Buffalo,_N.Y._hotel_proposal&oldid=1981797”

A compilation of brief news reports for Tuesday, January 13, 2009.

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Thursday, September 2, 2010

It has emerged that the 33 Chilean miners trapped underground after the mine they were working in collapsed could be brought to the surface in a shorter time than was initially feared. While officials publicly announced that the men would not be brought to the surface until Christmas, sources inside technical meetings have revealed that they could in fact be on the surface by early November. The news comes as families were allowed to speak by radio-telephone to their trapped loved ones on Sunday. Over the weekend, video images filmed by the miners emerged showing the miners playing dominoes at a table and singing the Chilean national anthem. The miners also used the camera to send video messages to their families on the surface, saying that they regularly broke into tears, but were feeling better having received food and water.

The grainy nightvision images, filmed on a high definition camcorder that was sent down a small shaft to the mine, show the men in good spirits, chanting “long live Chile, and long live the miners.” They are unshaven and stripped to the waist because of the heat underground, and are seen wearing white clinical trousers that have been designed to keep them dry. Giving a guided tour of the area they are occupying, Mario Sepúlveda, one of the miners, explains they have a “little cup to brush our teeth”, and a place where they pray each day. “We have everything organized,” he tells the camera. Gesturing to the table in the center of the room, he says that “we meet here every day. We plan, we have assemblies here every day so that all the decisions we make are based on the thoughts of all 33.” Another unidentified miner asks to rescuers, “get us out of here soon, please.” A thermometer is shown in the video, reading 29.5C (85F).

As the film continues, it becomes evident that the miners have stuck a poster of a topless woman on the wall. The miners appear shy, and one man puts his hand to his face, presumably dazzled by the light mounted on the cameraman’s helmet. One miner sent a message to his family. “Be calm”, he says. “We’re going to get out of here. And we thank you from the bottom of our hearts for your efforts.” Another said that the miners are “sure that there are people here in Chile that are big people, that are powerful people, that are intelligent people, and they have the technology and they will all work together to get us out of here.” Speaking to the camera, one says: “we have had the great fortune that trapped in this mine there are good, professional people. We have electricians, we have mechanics, we have machine operators and we will let you know that while you are working to rescue us on the surface, we are down here ready to help you too.” It has been reported that Mario Gómez, 63, has become the group’s “spiritual leader”, having worked in the mines for over fifty years. He has requested that materials to build a shrine be sent down to the cavern.

Upon seeing the video in a private screening, family members, who are living in a small village of tents at the entrance to the San José copper-gold mine—which they have named Camp Hope—were elated. “He’s skinny, bearded and it was painful to see him with his head hanging down, but I am so happy to see him alive”, said Ruth Contreras, the mother of Carlos Bravo, who is trapped in the mine. The video, of which only a small portion has been released to the public, shows the miners, many of them wearing helmets, cracking jokes and thanking the rescuers for their continued efforts. The supplies are being sent to the men through a small shaft only twelve centimeters wide, and a laboratory has been set up with the purpose of designing collapsible cots and miniature sandwiches, which can be sent down such a narrow space.

CNN reported on Friday that “officials are splitting the men into two shifts so one group sleeps while the other works or has leisure time .. On average, each man has lost 22 pounds (10 kilograms) since they became trapped three weeks ago, and dehydration remains a threat. But a survey of the men indicates that at least nine miners are still too overweight to fit through the proposed rescue shaft. Initially, the miners survived by draining water from a water-cooled piece of equipment. To stay hydrated in the 90-degree mine, each miner must drink eight or nine pints of water per day.”

But while there are jubilant celebrations on the surface that the miners are alive, officials are now nervous that the miners could become depressed, trapped in a dark room the size of a small apartment. Chilean health minister Jaime Mañalich said that, on the video, he saw the telltale signs of depression. “They are more isolated, they don’t want to be on the screen, they are not eating well”, he said. “I would say depression is the correct word.” He said that doctors who had watched the video had observed the men suffering from “severe dermatological problems.” Dr. Rodrigo Figueroa, head of the trauma, stress and disaster unit at the Catholic University in Santiago, Chile, explained that “following the euphoria of being discovered, the normal psychological reaction would be for the men to collapse in a combination of fatigue and stress … People who are trained for emergencies – like these miners – tend to minimize their own needs or to ignore them. When it is time to ask for help, they don’t.” NASA has advised emergency workers that entertaining the miners would be a good idea. They are to be sent a television system complete with taped football matches. Another dilemma facing Mañalich is whether the miners should be permitted to smoke underground. While nicotine gum has been delivered to the miners, sending down cigarettes is a plan that has not been ruled out.

With the news that drilling of the main rescue tunnel was expected to begin on Monday, officials have informed the media that they hope to have the miners out of the mine by Christmas—but sources with access to technical meetings have suggested that the miners could actually be rescued by the first week of November. A news report described the rescue plan—”the main focus is a machine that bores straight down to 688m and creates a chimney-type duct that could be used to haul the miners out one by one in a rescue basket. A second drilling operation will attempt to intercept a mining tunnel at a depth of roughly 350m. The miners would then have to make their way through several miles of dark, muddy tunnels and meet the rescue drill at roughly the halfway point of their current depth of 688m.” Iván Viveros Aranas, a Chilean policeman working at Camp Hope, told reporters that Chile “has shown a unity regardless of religion or social class. You see people arriving here just to volunteer, they have no relation at all to these families.”

But over the weekend, The New York Times reported that the “miners who have astonished the world with their discipline a half-mile underground will have to aid their own escape — clearing 3,000 to 4,000 tons of rock that will fall as the rescue hole is drilled, the engineer in charge of drilling said Sunday … The work will require about a half-dozen men working in shifts 24 hours a day.” Andrés Sougarret, a senior engineer involved in operating the drill said that “the miners are going to have to take out all that material as it falls.”

The families of those trapped were allowed to speak to them by radio-telephone on Sunday—a possibility that brought reassurance both the miners and those on the surface. The Intendant of the Atacama Region, Ximena Matas, said that there had been “moments of great emotion.” She continued to say that the families “listened with great interest and they both felt and realized that the men are well. This has been a very important moment, which no doubt strengthens their [the miners’] morale.” The phone line is thought to be quite temperamental, but it is hoped that soon, those in the mine and those in Camp Hope will be able to talk every day. “To hear his voice was a balm to my heart … He is aware that the rescue is not going to happen today, that it will take some time. He asked us to stay calm as everything is going to be OK … He sounded relaxed and since it was so short I didn’t manage to ask anything. Twenty seconds was nothing”, said said Jessica Cortés, who spoke to her husband Víctor Zamora, who was not even a miner, but a vehicle mechanic. “He went in that day because a vehicle had broken down inside the mine … At first they told us he had been crushed [to death].”

Esteban Rojas sent up a letter from inside the mine, proposing to his long-time partner Jessica Yáñez, 43. While they have officially been married for 25 years, their wedding was a civil service—but Rojas has now promised to have a church ceremony which is customary in Chile. “Please keep praying that we get out of this alive. And when I do get out, we will buy a dress and get married,” the letter read. Yáñez told a newspaper that she thought he was never going to ask her. “We have talked about it before, but he never asked me … He knows that however long it takes, I’ll wait for him, because with him I’ve been through good and bad.”

Retrieved from “https://en.wikinews.org/w/index.php?title=Race_to_save_Chilean_miners_trapped_underground_from_spiralling_into_depression_continues&oldid=4377226”

Commercial Loans and Construction Financing

by

Stephen Bush

Commercial construction financing and commercial real estate loans are presenting a number of new challenges for commercial borrowers. As a result, small business owners should anticipate that they are likely to encounter some new but generally avoidable problems when they are seeking working capital funding and commercial mortgages.

[youtube]http://www.youtube.com/watch?v=lPeJAmWijE0[/youtube]

There have always been complex problems for business owners to avoid when seeking commercial loans. By most accounts, these difficulties are now expected to multiply because we appear to be entering a period which will be characterized by even more uncertainties in the economy. If this financial turmoil continues to be present, previous rules and standards for commercial mortgages are likely to change quickly and with little advance notice by commercial lenders. This article will evaluate why commercial construction loans have become harder to obtain and will discuss possible commercial finance funding solutions. It is much more likely that borrowers will need to look beyond their local area for business financing help because of current economic uncertainties in combination with less capital available for commercial mortgages in general and construction financing in particular. In many areas of the United States, virtually all business construction funding sources are effectively inactive at this time in addressing new loan requests. Construction loans were generally considered to be riskier than other commercial financing by most lenders even before business finance funding options became more limited recently. For a commercial lender, the most significant risk factors for commercial construction financing usually include the following: (1) until the new building is completed, a commercial property cannot produce income to repay a loan; (2) a substantial risk factor is the possibility for contractor liens; and (3) many commercial construction projects take more time to complete than originally projected and/or exceed initial cost estimates. Due to widespread business losses in the construction industry, the risk of contractor liens is a major concern for commercial lenders. In any event, current delinquencies in loan payments for commercial construction financing are running well above normal. Construction financing for homebuilders has always been viewed separately by lenders because the eventual owners of single-family homes are individuals rather than businesses. From a commercial lending perspective, it is likely that the current difficulties seen in residential construction are indirectly impacting the availability of construction funding for commercial properties because the potential for contractor liens incurred during residential projects can quickly reduce the financial stability of contractors involved in both residential and commercial construction projects. This is a further reason why lenders are increasingly focusing on the risk of contractor liens as a rationale for providing less construction financing. The feasibility of real estate investments has traditionally included an enduring theme of “location, location and location” which reflects the importance of a specific locale for investing. This is still an important factor when lenders evaluate the prospects for commercial real estate loans involving both existing commercial properties and new construction. A lender is likely to be most comfortable with a stable to growing revenue stream for a business which will in turn result in a stable to growing property valuation, thus preserving collateral for the commercial mortgage loan. Although there are significant regional variations, we are witnessing decreases in both commercial and residential property values throughout the United States for the first time in several years. A severe recession will result in decreasing income for many businesses over an extended period of time, and it is very difficult for either lenders or borrowers to project when this downward trend will reverse. Given the difficulty of arranging financing based on location, using non-local lenders can be a practical solution for commercial financing involving both existing commercial properties and new construction. Small business owners should seek straightforward advice from a commercial loans expert who can provide effective strategies for changing and difficult business finance funding situations, especially in light of the challenging commercial borrowing climate prevailing currently.

Obtain effective strategies for

commercial loans

– Steve Bush is a business finance funding expert => AEX

Working Capital Loans

and Commercial Real Estate Loans

Article Source:

ArticleRich.com

Monday, October 11, 2010

Wikinews interviewed author Amy Scobee about her book Scientology – Abuse at the Top, and asked her about her experiences working as an executive within the organization. Scobee joined the organization at age 14, and worked at Scientology’s international management headquarters for several years before leaving in 2005. She served as a Scientology executive in multiple high-ranking positions, working out of the international headquarters of Scientology known as “Gold Base”, located in Gilman Hot Springs near Hemet, California.

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