Photo by Ken Blaze Victory Capital Management CEO David Brown Victory Capital at a glanceVictory Capital spun out of KeyCorp following a management-led, private equity-supported buyout valued at $246 million in 2013.Since that deal, the firm has gone from $18 billion in assets to $60.9 billion, 148 employees to 300, 18 investment strategies to 72 and five franchises to nine, plus a solutions platform, VictoryShares.The firm raised about $140 million in a recent IPO (NASDAQ: VCTR). That capital will help support its eventual separation from Crestview Partners, the New York private equity firm that still holds a majority stake in the business.The largest money manager in Northeast Ohio, which has been rather quietly amassing size for well over a century, has achieved explosive growth since a management-led and private equity supported separation from KeyCorp a few years ago.Now, following a recent IPO, Brooklyn, Ohio-based Victory Capital Management's parent company, … [Read more...] about Success is in Victory Capital Management’s sight
River road asset management
Upgrades to Interstate 65 and the Natcher Parkway are coming soon, along with improvements to the U.S. 31-W By-Pass and Scottsville Road in the Kentucky Transportation Cabinet’s just-released 2018 highway plan.But other needed projects, including widening of Three Springs Road and Fairview Avenue, must wait at least until the final four years of the six-year plan.With a greater emphasis in this year’s plan on what’s called asset management, or placing priority on rehabilitating existing roads instead of building new ones, the work on I-65 pavement will continue while upgrading the Natcher Parkway to interstate standards will get some funding. The state’s $2.68 billion biennium (2018-20) spending plan includes $113 million worth of projects in the 10-county region covered by the KYTC District 3 office in Bowling Green.Warren County’s portion of that is $47 million, much of which will go to the I-65 and Natcher Parkway improvements.The two-year spending plan … [Read more...] about State’s highway plan focuses on rehab of existing roads
Big Bend Drive, once a serene, secluded cluster of homes hugging the banks of the Des Plaines River, was a hive of hauling, digging, shoveling and excavation on a recent spring day. A bulldozer churned down the middle of the block, flinging a splatter of mud. A crew loaded chunks of concrete into a dump truck parked near splintered pieces of house siding, a jagged reminder of a recent past.On this fingertip of land, the river meandering around it, a transformation has kicked into high gear. The crews are not building, however, but demolishing.The neighborhood in Des Plaines is the target of a systematic flood mitigation program that aims to tear down most of the homes in an area frequently ravaged by the rising waters of the Des Plaines River. The street is now pockmarked with vacant lots where houses once stood, like a grade-schooler losing her teeth.“A lot of people are just tired of seeing their homes flooded,” said Rainer Siebald, who lives in one of the remaining … [Read more...] about New tech suggests more homes near Des Plaines River at risk of flooding
Bay City News Service Published 11:08 pm, Tuesday, April 17, 2018 Sonoma County will receive $9.8 million in state gas tax funding in fiscal year 2018-2019 for road maintenance, rehabilitation and critical safety projects on locals streets and roads. Half of the money will go toward a pavement preservation program and half to the Road Maintenance and Operations Division of the county Transportation and Public Works Department which is now securing contracts for the road projects. A $5 million contract will provide chip seal and overlay repair of 15 miles of resurfaced county roads. Those roads include Ferguson, Furlong and River roads, Poplar Avenue and Bohemian Highway in west Sonoma County and Cloverdale, and Grove Street in Sonoma. The Board of Supervisors is expected to approve the contracts over the next few months. Recommended Video: Now Playing: International Monetary Fund (IMF) head Christine Lagarde said on Monday euro zone leaders should set … [Read more...] about County Getting $9.8 Million In State Gas Tax Money For Road Repair, Improvements
Share This Story! Let friends in your social network know what you are reading about Facebook Email Twitter Google+ LinkedIn Pinterest Former GM plant on Boxwood Road to be demolished, Harvey Hanna says in exploratory plan After demolition, the Boxwood Road plant in Delaware will be home to a fulfillment and distribution campus spread across four buildings. Sent! A link has been sent to your friend's email address. Posted! A link has been posted to your Facebook feed. 4 Join the Conversation To find out more about Facebook commenting please read the Conversation Guidelines and FAQs Subscribe Today Log In Subscribed, but don't have a login? Activate your digital access. Jeff Neiburg, The News Journal Published 7:00 p.m. ET April 16, 2018 CLOSE The plant that formerly housed thousands of Delaware auto workers will be leveled and redeveloped as soon as officials give developer Harvey Hanna & Associates the OK to … [Read more...] about Former GM plant on Boxwood Road to be demolished, Harvey Hanna says in exploratory plan
CHESAPEAKEThe city is hoping to avert what "would eventually be a Flint, Michigan."That's what officials said this week about their plan to buy out Aqua Virginia, a private utility that has long plagued a small community here with subpar water quality.Planning Commissioner Marty Williams made the comparison Wednesday night as the body voted to move forward with the plan to allow the Norfolk Highlands area abutting Indian River Road to join the city's water system."We're super excited," said 31-year-old Ronnie Goldbach, who lives in Norfolk Highlands with his wife and two young children. "We feel like it's a win for not only us, but our community."Residents of the neighborhood in northern Chesapeake have long complained about discolored, rusty, foul-smelling water they say regularly pours from their taps. Many buy bottled water to drink, boil water for cooking and avoid washing clothes with the water.The Goldbachs' children both suffer from eczema, Ronnie said. When they first … [Read more...] about Clean water, finally: Chesapeake to buy out private utility in beleaguered Indian River community
We’re fortunate in this special place, one with more miles of Mississippi riverfront — 26 — than any other city from the headwaters to the Gulf of Mexico. Our remarkable natural asset also is a working river — supporting jobs and wealth creations and helping drive the region’s economy. In this northernmost port for commerce on one of the world’s great rivers, we’re set for another shipping season. A cold winter and thick ice to the south are likely delaying its start by a few weeks. Ice on Lake Pepin — still as deep as 30 inches in some places last week, according to measurements from the U.S. Army Corps of Engineers — “is the limiting factor for getting barges through up here,” explains Kathryn Sarnecki, vice president of redevelopment and harbor management for the St. Paul Port Authority. The 30-year annual average for the start of the shipping season is about March 20, according to Lee Nelson, president of Upper River … [Read more...] about Editorial: A new busy season on our working river
Under the tax blueprint recently unveiled by President Donald Trump and Republican leaders in Congress, a bunch of investments would benefit -- and others would not. Small-capitalization stocks and financial services shares likely would do well, for instance, while homebuilders face an iffier road. Moody's Investors Service on Monday pointed to low-grade corporate bonds and municipal debt as probable losers. Certainly, passage of any tax bill is far away. Predictit, the market that seeks to forecast major public events, gives a one-in-three chance that a tax overhaul will occur this year. On Capitol Hill, lawmakers are preparing to vote on a budget resolution that will provide a path for eventual tax changes, with the House of Representatives set to pass its version of the measure by Thursday and the Senate budget panel aiming to begin writing its own bill late this week. The GOP tax plan, which Mr. Trump introduced in Indiana last week, was a mere nine pages and scant on … [Read more...] about Which investments would GOP tax plan help — or hurt?
New York City is choking in traffic. Congestion pricing would be a helpful tool, but it’s not enough. In 2010, city planners projected the city would grow to 8.5 million people by 2020. Instead, we hit that number in 2015. Meanwhile, 2.7 million vehicles enter the city each day, with the average vehicle speed falling dramatically to about 4 mph in Manhattan, and even in business districts in Queens and Brooklyn. While the city and state are focused on how to manage and fund today’s overstressed subway system, we need a broader rethink of how to prepare for an urban landscape with more people and fewer vehicles. Here are five ideas, small and large, that would help the city avoid being strangled by its own growth: 1. Ban construction of new parking spaces in Manhattan and areas in the boroughs near transit hubs. London recognizes a fact about parking garages that transit planners have long known: If you build it, they (cars) will come. Their response: a ban on new … [Read more...] about Think big, beyond congestion pricing, to get the roads flowing
Mike Purzycki believes that if you make it pretty, they will come.Garbage-strewn streets suggest "your city is not well." Rusted fences and 10-foot-tall weeds penetrate residents' psyches, leading them to misbehave.“You do what you want to do because things aren’t going to get a whole lot worse," says the man who brought an IMAX movie theater, luxury apartments, multiple corporate headquarters and even Starbucks to a 100-acre smokestack graveyard flanking a polluted river.Soon, the Riverfront development chief could face his biggest challenge yet: persuading the broader community — and the nation — that Wilmington has outgrown its "Murder Town" label.A former real estate developer and attorney, Purzycki's recipe is to rehabilitate the city through community redevelopment fueled by private business. But critics worry that his history of negotiating advantageous deals with a select group of … [Read more...] about Purzycki’s business ties: asset or liability?