FINANCE

Cole acquires three retail centers for $130.9 million

BY Katherine Boccaccio

Phoenix — Cole Real Estate Investments said it has purchased three retail power centers totaling about 875,000 sq. ft. for $130.9 million.

The acquired properties are Hillside Town Center, a 165,000-sq.-ft. center in Hillside, Ill., for $27 million; White Oak Village, a 433,500-sq.-ft. property in Richmond, Va., for $68 million; and Barrow Crossing, a 276,000-sq.-ft. center in Winder, Ga., for $35.9 million. Barrow Crossing is a joint venture with Faison, the original developer of the property.

Hillside Town Center is anchored by HomeGoods, Michael’s, Staples and Petco; White Oak Village is anchored by J.C. Penney, Martin’s grocery, PetSmart, Michael’s and OfficeMax; and Barrow Crossing is anchored by Belk, Publix, TJ Maxx, PetSmart and Staples.

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Dec-27-2012 11:56 am

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Dec-27-2012 11:56 am

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News

NRF not pleased with swipe fee settlement

BY CSA STAFF

WASHINGTON — A revised antitrust settlement on the issue of credit card swipe fees doesn’t go far enough, The National Retail Federation said Friday.

“The proposal put on the table this summer was beyond tweaking, and the update presented today proves that fact. It remains manifestly unfair,” NRF SVP and general counsel Mallory Duncan said. “The settlement still does virtually nothing to protect retailers or their customers from the abuses of the card industry, and it attempts to silence any objections for years to come. Retailers would rather take their chances in court than accept this one-sided swindle written by the card industry for the card industry.”

“It should prove very significant to the court that the majority of the plaintiffs in this case have repudiated the settlement, and that includes half a dozen national trade associations representing thousands of merchants,” Duncan said. “The lawyers and handful of retailers who support the settlement do not represent the retail industry.”

Lawyers representing 13 individual retailers and six trade associations ranging from convenience stores to restaurants this summer announced a $7.25 billion proposed settlement of a lawsuit filed against Visa and MasterCard in 2005. But four of the individual companies and all six of the trade associations have rejected the proposal since then.

A revised version of the settlement was filed in U.S. District Court in Brooklyn Friday, and opponents are expected to have 30 days to voice their objections to the deal.

NRF said it opposes the settlement because it does little to address high fees charged in the past and nothing to prevent them from rising higher in the future. The $7.25 billion figure represents less than three months’ worth of swipe fee collections despite the eight-year period of the lawsuit, and the settlement fails to reform the cartel-like system where Visa and MasterCard set a rigid schedule of swipe fees all banks agree to follow while refusing to negotiate with merchants. The proposal does nothing to disclose the hidden fees or otherwise create transparency that would encourage competition. And retailers would face a long-term ban on future lawsuits over swipe fees, effectively allowing card industry practices to continue unchallenged.

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OPERATIONS

Modell’s CEO Mitchell Modell in season premier of ‘Undercover Boss’

BY Marianne Wilson

New York — Mitchell Modell, CEO of Modell’s Sporting Goods, will be featured on the upcoming season premier of the Emmy Award-winning reality series “Undercover Boss.”

In the show, which will air on Friday, Nov.2 (8 p.m.-9 p.m. ET), Modell will go undercover as he ventures to the frontlines of his sporting goods and athletic apparel store for an unfiltered look into the inner workings of his corporation.

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S.Erco says:
May-06-2013 02:33 pm

Modell's approach as "Your
Modell's approach as "Your Hometown Sporting Goods Store" through local specialized offerings, community relationships, and programs such as Team Weeks, which assists local schools, leagues, and non-profit organizations has made it a very successful company through the years. Modell's #1 mission statement is "Listen, Respect, and Respond" to the needs of their customers, associates, and vendors. Modell's sponsors many professional sports teams in their east coast market area broker vergleich

S.Erco says:
May-06-2013 02:33 pm

Modell's approach as "Your Hometown Sporting Goods Store" through local specialized offerings, community relationships, and programs such as Team Weeks, which assists local schools, leagues, and non-profit organizations has made it a very successful company through the years. Modell's #1 mission statement is "Listen, Respect, and Respond" to the needs of their customers, associates, and vendors. Modell's sponsors many professional sports teams in their east coast market area broker vergleich

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S.Erco says:
Apr-20-2013 04:41 pm

That was some interesting
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S.Erco says:
Apr-20-2013 04:41 pm

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Mar-29-2013 08:21 pm

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Mar-29-2013 08:21 pm

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