June 2008

Found 23 blog entries for June 2008.

According to the Associated Press, the Federal Reserve has approved Bank of America Corp’s move to purchase Countrywide Financial Corp. 

The 32 page order was issued on June 5th and Countrywide plans to hold a special meeting with its shareholders on the 25th in order to finalize the sale.  According to the Fed board, Bank of America will control approximately $773.4 billion in deposits once the deal is closed, which means it will remain the nation’s largest depository institution with 10.9% of the insured bank deposits in the country.

Bank of America had initially stated it would pay approximately $4 billion for Countrywide and would exchange 0.1822 shares of its stock for each share of outstanding Countrywide stock.  Over the past few months,

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Are you planning to visit the Austin area?  Or, perhaps you have someone coming to visit you and you don’t have room at your home for them to stay the night.  In either case, you will soon have a new hotel option available to you.  If you are looking for a great new condo to form a new residence in Austin, this new development will be even more exciting to you.

According to Commercial Property News, the Austin-based Stratus Properties Inc and the Canyon-Johnson Urban Fund have managed to secure a $165 million construction loan that will allow them to build the W Austin Hotel & Residences in Downtown Austin in the 2nd Street District.

The new hotel and residences are expected to be completed in early 2011.  It is scheduled to have 252 guest rooms and

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Killeen, which is located near to Austin, is working toward creating the first zero-emission energy recycling oxidation system power plant.  According to the Killeen Daily Herald, the city council has decided to start negotiations regarding the plant, which will likely be housed at the Killeen Transfer Station site on Hwy 195.

The plant will cost an estimated $250 million to $300 million to build, with the expense being paid for by private investors.  As such, the city will not need to make any bond payments in order to complete the project, which is expected to be completed in about three years if all goes as planned.

With the help of the new plant, hazardous organic waste will be chemically broken down in order to create power.  Some of the waste to

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Are you tired of smacking mosquitoes every time you go outside?  If so, you are not alone – no one enjoys contending with bothersome mosquitoes while spending time outdoors.  With all of the great recreational opportunities Austin has to offer, you certainly want to be able to spend as much time as possible outdoors. 

Thanks to city officials in Austin, you won’t have to worry quite as much about mosquitoes.  In fact, officials are planning to spend $25,000 this summer in order to purchase four different sprays to help control the mosquito population.

The Austin City Council officially approved to set aside the same amount of funding as last year to help control the mosquitoes with the help of the contractor More’s Ag Center.  While this may not seem

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An ordinance affecting new single-family homes in Austin was recently proposed by City Council Member Betty Dunkerley, but city officials have made a few modifications to the ordinance.  Namely, they have decided to remove the requirement to have wheelchair ramps included in all new single-family homes.  According to Dunkerley, however, she hopes to create a bonus or incentive program that will inspire builders to install no-step entrances or ramps in the homes.  For example, builders installing these modifications may be able to receive an increased floor-to-area ratio or receive impervious cover.

“This is a growing trend in our country because our population is aging.  [The plan] allows people to age in their homes,” said Dunkerley.

Other components

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Homeowners insurance has been a hot topic in recent years.  The Third Court of Appeals in Austin has now determined that a 2003 provision regarding homeowners insurance was unconstitutional.  The provision, which was part of the 2003 reform law, required the insurance rates of homeowners to be reduced. 

Known as Senate Bill 14, the law had actually required a 12% rate reduction to be implemented by 12 different companies.  One of these companies was State Farm Lloyds, which happens to be the largest insurer in the state. 

The law was initially passed out of concern regarding skyrocketing insurance rates, which resulted when State Farm and other companies found a loophole in the existing laws that allowed them to avoid having their rates regulated. 

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If you have children, whether they are young or teens, you will find that there is plenty to see and to do as a family in the Austin area.  Here is a look at just a few of the great attractions that Austin has to offer to families.

  • Explore dozens of interactive exhibits at the Austin Children’s Museum
  • Visit the Austin Nature and Science Center and take a walk down the Eco-Detective Trail, where you will encounter hands-on activities as well as close encounters with mammals, birds, and reptiles
  • Take a swim or play in the pool fed by a spring at Deep Eddy
  • Take a ride on the glass bottom boats at the Aquarena Center in San Marcos and look at exhibits of endangered species of animals
  • Tike a
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The city of Austin is progressive in a number of ways and, when it comes to being environmentally friendly, the city is definitely ahead of the back.  In fact, just this past Tuesday, Austin was recognized by the U.S. Department of Energy as one of the top 25 solar cities in the nation.

There are signs of the solar energy throughout the great city of Austin.  In fact, if you take a look a the Austin Convention Center, you will notice that it is literally covered in solar panels.  As such, it is considered to be one of the most technology advanced convention centers in the United States.  The convention center, as well as a number of homes in Austin that utilize solar power, are major reasons for the city’s special recognition. 

Austin received this

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Austin has long been known for its forward thinking and its diversity as well as for its bustling music scene.  Therefore, it should come as no surprise that the city is now holding a Jewish music festival, which is being called Jewsapalooza.

The festival, which was held last weekend, was the first ever music festival of its kind to be held in Austin.  According to KXAN Austin News, the festival featured a variety of different musical genres that are based on Jewish heritage.  Genres included American folk music, jazz, rock, soul, and klezmer and the concerts took place at the Dell Jewish Community Campus on the JCC Community Hall Stage.

In addition to showcasing the Jewish heritage through music, the festival also served as a benefit for Paul and Annie

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According to an article in the Austin Business Journal, Austin was ranked among the top 10 cities by Kiplinger’s Personal Finance. The cities included on the list were ranked according to the strength of their economies, the cost of living in the area, the job availability, and the number of activities for residents to enjoy.  By looking at all of these factors, the company chose the best places for people to work, live, and play.

Within the top 10 list, Austin was ranked number six.  The top five cities, in order, were Houston (Texas), Raleigh (North Carolina), Omaha (Nebraska), Boise (Idaho), and Colorado Springs (Colorado).

In order to develop the list, Kiplinger paired up with the research director of the think tank called Martin Prosperity…
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