After watching the stock market go up yesterday, then down this morning – and both yesterday’s gain and today’s decline were attributable to news about jobs Thursday’s news was positive, Friday’s news was negative. – I’ve again come to the conclusion that no one knows “shit from shinola” when it comes to predicting ups or downs in the economy or ups or downs in the stock market.

NEW YORK (Dow Jones)–U.S. stock futures plunged Friday morning after the government’s latest reading on the labor market showed the U.S. economy barely added jobs for a second straight month.

About an hour before the open, Dow Jones Industrial Average futures plunged 109 points, or 0.9% to 12571. Prior to the data, Dow futures had been up 30 points.

Standard & Poor’s 500 stock index futures fell 14 points to 1338, while Nasdaq 100 futures dropped 19 points to 2396. Changes in stock futures do not always accurately predict stock moves after the opening bell.

Nonfarm payrolls rose 18,000 last month, far less than expected, as small gains in the private sector were just enough to outweigh continued government job losses, the Labor Department said Friday in its survey of employers. The jobless rate, which is obtained from a separate household survey, increased for a third straight month to 9.2% in June, the highest level since December 2010.

Economists surveyed by Dow Jones Newswires had forecast payrolls would rise by 125,000 and the jobless rate would remain steady at 9.1%.

The disappointing report comes as investor optimism had been increasing over the last few weeks. The Dow rose Thursday for a seventh time in eight sessions, climbing 6.6% throughout the streak and bringing the blue-chip index within 100 points of its three-year closing high reached in April.

Joel’s further comment:

Well, let me repeat this sentence that appeared in the article above:

“Economists surveyed by Dow Jones Newswires had forecast payrolls would rise by 125,000 and the jobless rate would remain steady at 9.1%”.

Who are the “economists” that Dow Jones Newswires is polling? “They” estimated non-farm payroll (employment) would rise by 125,000, but that didn’t happen, non-farm payroll (employment) rose by only 18,000. Not even close. What is the point of guessing when it is, I think, absolutely perfectly clear that everyone is just “guessing” at the monthly numbers. As Lewis Black would likely put it, “no one knows shit; everyone is just making the shit up as they go. And, if we are paying attention to what “they” are saying, than we are the real morons, not them.”

Printing for Pinellas schools goes to same vendors

Posted on June 5, 2011 by guest

Almost every time the Pinellas County School District needed to print thousands of test booklets this year, the same thing happened.

It asked three vendors to bid. The first put in the low bid. The second, run by the same family as the first, put in a higher bid.

And the third put in no bid and wrote this about the job: “not suited for our equipment.”

Time and again — for up to two decades — many of the biggest print jobs for Pinellas schools have gone to one company, Web Offset Printing of Clearwater. And in nearly every case, the second bidder has been Newspaper Printing Co. of Tampa, run by the same family.

A problem?

No, said the district official who picked which vendors got a shot. No, said officials for the two companies — one of whom said he didn’t even know his companies were bidding on the same district contracts.

Brian Chepren, the supervisor of central printing services, said he cleared the two companies’ ties with the former purchasing director, Mark Lindemann. But the former director doesn’t recall the conversation.

“I would not have told him that was permissible,” said Lindemann, who is now retired.

The district would not have allowed it “because there’s potential collusion,” he said. And the district would want to avoid even the appearance of that, he said.

After the Times began asking about printing contracts in April, the district changed its bid process. Now printing jobs are posted on a website, and 10 to 15 vendors are notified and given a chance to bid.

Chepren, a 30-year employee, is no longer involved with selecting vendors. And an unspecified review is under way by the district Office of Professional Standards.

Through late April of this fiscal year, Web Offset was awarded at least 24 contracts, ranging from $750 to $17,098 and totalling $128,432. That’s on path to the roughly $150,000 a year that Chepren said is average for the company.

In all 24 cases, Newspaper Printing was the second vendor. In 23 cases, Gentry Printing of Clearwater was the third.

Gentry submitted bids in four cases. In 14 others, it indicated it was not suited for the project.

Chepren said the pattern has been rolling along for 15 to 20 years, though many vendors besides Gentry have been asked for the third bid.

The reason: Few, if any, vendors can do the same work as cheaply or effectively as Web Offset, he said. Many vendors didn’t want to fill out the bid paperwork, knowing they couldn’t compete. Yet he had to request at least three bids, which is required by state law and district policy for contracts between $6,000 and $25,000.

“It’s more convenient and it’s more cost-effective” to ask the same three vendors, Chepren said.

Both Web Offset and Newspaper Printing have won bids from the Times for small print jobs.

Some Tampa Bay area printing companies agreed only a handful in the area can handle the types of big district jobs — test booklets, codes of student conduct — routinely won by Web Offset. Even fewer can do it as cheaply, they said.

“They pretty much smoke me,” said Roy Vice, general manager of Precision Litho Service in Clearwater.

But others in the industry said while there’s not much competition, there is some. And though printing contracts are a tiny piece of the district’s $1.4 billion budget, the process makes them wonder whether taxpayers have been getting the best deal.

“I don’t think they’re going to get the best prices” when they limit bids, said Wes Mullins, chief executive of MM Printing in Ruskin.

“We can compete with these,” Mullins said after the Times faxed him contracts awarded to Web Offset this year.

MM is on the district’s registered vendor list, but hasn’t been asked to bid since 2001, he said.

Chepren said Pinellas contracted with the Ruskin company years ago but “it was some of the worst quality I had seen.” He did not ask it to bid again.

In Hillsborough, the school district is satisfied with MM’s work. The company often wins similar contracts from that district, at times in competition with Newspaper Printing.

Hillsborough has a more expansive bid process. It posts the vast majority of jobs on a website so many vendors can see them and bid.

“That gets us the best price, every single time,” said print shop manager Ozzie Ordaz.

For the new process in Pinellas, the purchasing department identified 10 to 15 vendors based in part on whether they responded to past bid requests. “If we’re contacted by a vendor, and they want to participate, they will be added to the list,” said purchasing director Linda Balcombe.

Chepren said he no longer wanted to select vendors after the Times began requesting contract information. He said he turned over that responsibility to the purchasing department.

“I said, ‘You know what? I’m not going to be involved in this anymore,’ ” he said. No one ever told him there was anything wrong with the process, he said, yet “I feel like I’m being grilled.”

Any questions about money for Pinellas schools come at a sensitive time. The district is all but scrounging under sofa cushions to find money to offset budget deficits.

John Tevlin of St. Petersburg, the president of both Web Offset and Newspaper Printing, said he did not know why Pinellas only solicited certain vendors. He said his companies were related but separate.

“They have their own way of operating over there (at Web Offset) and over at Newspaper Printing it’s a completely different thing,” said Tevlin, 62. “Each one has its own sales staff. Each one has its own manager.”

His son, John Tevlin Jr., is vice president of both companies. He said he did not know, until the Times told him Friday, that the district had been asking both companies to bid on the same contracts.

“I don’t deal with that day to day,” he said.

Both father and son said the companies have no idea what each other is bidding.

“There’s never been any funny business with us,” said the elder Tevlin. “It hurts us that there might be that insinuation.”

Lindemann said Web Offset proved over many years that it was the lowest-bidding, most competitive vendor. But he also suggested there may be consequences to limiting competition.

“If the vendor gets the idea that they’re the only game in town,” he said, “the prices tend to rise.”

School Board attorney Jim Robinson said the long-standing practice involving the two companies didn’t break the rules.

“The fact that two corporations share a common shareholder or officer would not by itself disqualify them from quoting for the same job,” he wrote in an e-mail.

Still, he continued, the district decided to change the process because it wanted to “conduct its purchasing program in a manner that builds confidence among our business partners and the general public.”

The elder Tevlin said he doesn’t care if the district asks more vendors to bid.

“They can send it to the whole damn country,” he said. “We’ll probably end up with it anyways.”

Times researcher Caryn Baird contributed to this report. Ron Matus can be reached at matus@sptimes.com or (727) 893-8873.

Joel’s comment: I found this article at http://www.additiveprinting.com/, but, evidently, it first appeared in the St Pete (FL) Times.

Request for Proposals (RFP)
On-Call Copying and Reprographics Services

The San Diego Association of Governments (SANDAG) is seeking proposals from qualified companies to provide general reprographic and reproduction services including, but not limited to, basic reproduction services, binding, stapling, printing, and distribution of SANDAG construction project plans, specifications, and related documents, foam core mounting, duplication and formatting of compact discs, and distribution of reproduced media as requested.

A pre-proposal meeting will be held on Tuesday, June 21, 2011, at 10:30 a.m. in SANDAG Conference Room 8A. Attendance at the pre-proposal meeting is not mandatory.

A copy of the RFP (No. 5001617) can be accessed from the SANDAG Web site at www.sandag.org/contracts or by contacting:

Janet Yeh
SANDAG
401 B Street, Suite 800
San Diego, CA 92101
(619) 699-6952
jye@sandag.org

Proposals are due by 4 p.m. on Wednesday, July 20, 2011.

Published: 6/17/2011

La Prensa San Diego

The other day, I posted an article on the blog about Boston’s real estate development sector beginning to show real signs of life. Here’s another one.

Remember, real estate development will not recover all at once nor will its recovery be across-the-board (across-the-country) all at the same time. Real estate development activity will recover market by market. Boston’s beginning to get active again. Keep looking for signs that say that your market is beginning its recovery.

Fenway facelift continues

A proposed complex on Boylston Street would mix housing, retail, further contributing to a neighborhood’s transformation

By Casey Ross, Boston Globe Staff / July 7, 2011

Fenway Park may remain a fixture in time, but the neighborhood around it is finally completing its transformation to the modern world.

The sub shops, fast food outlets, and gas stations that used to dominate the outer stretch of Boylston Street around the ballpark have given way to sleek buildings, stylish restaurants, and a lively club scene.

And now a new addition to the neighborhood: Boston developer the Abbey Group yesterday proposed construction of a mixed-use complex that would replace a former McDonald’s with 210 apartments, offices, and retail stores.

In a filing submitted to the Boston Redevelopment Authority, Abbey Group executives proposed a tiered complex that would be set back from Boylston Street, leaving room at street level for outdoor cafe tables and a small courtyard. The development, to be located at 1282 Boylston St. next to the Baseball Tavern, would be 16 stories at its peak and step down to four stories on the rear side facing the residential portion of the neighborhood.

“We’re trying to create a building that fits with the urban village objective and really targets a multigenerational group of people,’’ said David Epstein, president of Abbey Group. “We want to shape the building with varied heights and varied openings so it will present itself in a more pedestrian-friendly way.’’

The site has been used for parking since McDonald’s closed in 2009. Abbey Group, which acquired it two years ago, hopes to begin construction next year, with an opening planned in 2014.

The apartments would range from studios to three-bedroom units, with about 20 units to be designated as affordable. Three floors of offices would occupy the lower levels of the building with stores and community space at street level. Epstein said the firm wants to incorporate a cafe or restaurant and several other shops, as well as an underground parking garage with 295 spaces. The complex is being designed by the architecture firm Bruner/Cott & Associates.

The project still needs approvals from the BRA, which has instituted zoning changes in recent years to encourage development in the area. The proposal for the McDonald’s site would fill one of the few remaining gaps along Boylston Street, which until recently has been dominated by a ramshackle collection of tire stores, sub shops, and gas stations.

Among the new developments are Trilogy, an apartment and retail complex at the corner of Brookline Avenue and Boylston Street, and 1330 Boylston, another large housing complex with an Upper Crust Pizzeria and Basho Japanese Brasserie on the ground floor. Also new to the neighborhood are Guitar Center, Tasty Burger, and Marshall’s Fenway Farm Stand, a market featuring locally grown foods.

Abbey Group was among the first developers to start the neighborhood’s renaissance in the early 1990s, when it developed Landmark Center, a 1-million-square-foot office and retail complex at Park Drive and Brookline Avenue. It sold the complex last year to developer Steve Samuels, who has also redeveloped several properties in the area.

Epstein said the firm is still refining its design for the McDonald’s site and remains open to input from neighbors. The current plan calls for a mix of terra-cotta and other light-colored materials meant to reflect many of the older homes and commercial buildings in the area.

Abbey Group is also planning a community center for meetings and other public events and is proposing several changes to accommodate additional traffic created by the project. Among the changes are a dedicated truck lane along the complex and a new side street from Boylston that would connect to alleys behind the building.

In its filing with the city, the firm estimated the project will create 600 construction jobs, and 360 permanent jobs once it opens.

Casey Ross can be reached at cross@globe.com.

This is the 2nd Quarter 2011 update to the index of the U.S.A. A/E/C reprographics industry’s sales revenues of “plans-printed-on-paper”.

The A/E/C Repro PPoP Index …..

This index does not attempt to track “total sales” of A/E/C reprographers. It attempts to track only sales of “plans printed on paper,” which, traditionally and even nowadays, is the core (main) revenue generator for all A/E/C reprographers.

And, by “plans printed on paper”, I mean A/E/C “plans”, large-format, b/w and color, unbound or bound, full-size, half-size, whatever l/f size.

There will be a recovery in the A/E/C industry and thereby in the A/E/C reprographics industry. However, some are saying that even though there will be a recovery in the A/E/C industry, the recovery of sales revenues from “plans printed on paper” may not mirror the A/E/C industry’s recovery, since some are expecting (I guess I should say, some are saying) that revenues from printing plans on paper are being negatively impacted by customers distributing CD’s (or files) instead of distributing “hard copy” plans.

For this index, Q1 2006 is the ground-zero (base) point.

YR– 2006—–2007—–2008—– 2009—–2010——2011

Q1– 1.00——-1.09——-1.10——0.65——0.55—–0.65

Q2– 1.06——-1.18——-0.98——0.65——0.60…….0.61

Q3– 1.08——-0.97——-0.85——0.57——0.60

Q4– 0.89——-0.93——-0.64——0.49——0.58

The “index” calculations for periods after Q3 2010 have been slightly adjusted to take into account the effects of an acquisition completed by one of the industry’s supplier / vendors.

(This index is based on A/E/C Repro Vendor sales to A/E/C Reprographers)

As I think I said in a recent previous post, Boston’s real estate development economy appears to be on the verge of breaking out on the “right side” of things. This, of course, is good news to anyone and everyone associated with the A/E/C community, including reprographers!

Here’s an in-depth article that appeared in yesterday’s Boston Globe newspaper:

REAL ESTATE NEWS – BOSTON, MA

Business reviving for local builders (Boston, MA)

Construction jobs may increase by 4,000

By Casey Ross

Boston Globe Staff / July 4, 2011

Developers across the Boston area are moving forward with a number of large construction projects that were stalled by the recession, creating thousands of jobs and ending one of the state’s most prolonged building slumps.

At least nine major developments are under construction or preparing to begin, including two multibillion-dollar complexes in Boston’s Seaport District, the 60-acre Assembly Row project in Somerville, and a mini-city taking shape on the site of the former South Weymouth Naval Air Station.

Together, the projects promise to create some 4,000 construction jobs in coming months, with many thousands more possible as work escalates. The increased activity offers a measure of relief to an industry beset by extreme joblessness. At the height of the recession, labor leaders were reporting a 35 percent unemployment rate among construction workers, more than three times the rate of the broader economy.

The developments moving forward include office towers and stores that can help revitalize gritty urban neighborhoods, biotechnology laboratories that will host cutting-edge research, and thousands of apartments that will help curb the shortage of rental housing in the region.

“There’s a lot going on because there are reasons to be confident in the future of the economy,’’ Governor Deval Patrick said in a recent interview. Despite financial constraints, Patrick said, the state has continued to lay the groundwork for a recovery, by building new roads and other infrastructure to help educational institutions and research companies expand operations. “And that’s where you’re seeing the pickup and the results,’’ Patrick said.

But the impact on jobs will not be immediate, as many developers still must clear other obstacles before starting construction. And while some projects are moving forward, many others remain stalled or are barely inching forward, leaving union leaders skeptical that the recovery will proceed fast enough to help the long-term unemployed.

“I’ve been at a number of groundbreakings where pictures are taken and the right things get said, but then nothing happens,’’ said Mark Erlich, executive secretary of the New England Regional Council of Carpenters. “The iceberg is melting, but icebergs melt slowly.’’

He said he was most encouraged by work getting underway at Fan Pier, a $2.5 billion redevelopment on the South Boston waterfront. The eight-building project, idled during the recession, will include residential buildings, a hotel, a marina, parks, and a pair of new office towers for drug maker Vertex Pharmaceuticals Inc., which is moving to the waterfront from Cambridge. The work on Vertex’s buildings is expected to create more than 1,000 jobs in coming weeks.

Across the street, John B. Hynes III is preparing to proceed with a pair of 20-story residential buildings at Seaport Square, a $3 billion project that will also include offices, stores, a hotel, and an innovation center to spur collaboration among firms in the district. And in Back Bay, Liberty Mutual Insurance Co. is erecting a $300 million office tower.

“We’re seeing investment in every neighborhood,’’ said Mayor Thomas M. Menino, adding that some 28 projects are under construction in Boston. “We are growing, thriving, and creating jobs.’’

The projects help bolster the region’s economy by generating more foot traffic in neighborhoods and shopping districts trying to come back from the recession. “It translates to more money for people and businesses,’’ said Gregory Vasil, chief executive of the Greater Boston Real Estate Board, an industry association. “There will be more people out buying things, going out for meals and meetings, and visiting different parts of the city.’’

Real estate specialists said several factors are contributing to the spurt of building activity. First, retailers and large office users such as financial firms and pharmaceutical companies are beginning to expand following the downturn, making it easier for developers to secure tenants for their projects.

And second, banks and other lenders that had largely stopped investing in development deals are now willing to make loans again, albeit at smaller amounts than before the recession began in late 2007.

“The banks are saying they are willing to listen now,’’ said George Fantini, a principal of the mortgage banking firm Fantini & Gorga. “The stars are lining up in a way where developers and other stakeholders are going to have a better future than they thought.’’

Still, Fantini added, it remains difficult to put together financing for large projects with multiple components. As a result, numerous other developments in the region remain stalled, including the planned $700 million tower at the former Filene’s department store in downtown Boston, where a work stoppage has left a giant crater on the site for three years. And other collapsed projects, such as the $800 million Columbus Center plan to unite two Boston neighborhoods over the Massachusetts Turnpike, may never be resurrected.

As the economy recovers, many developers said rental housing projects remain the easiest to finance, spurring a flood of those proposals in recent months. Thousands of apartments are being planned in downtown Boston alone, with some developers canceling plans for offices to make way for more rental units.

In the Fenway neighborhood, developer John Rosenthal said he may convert a 10-story office tower to apartments as he tries to secure funding for Fenway Center, his planned five-building complex over the Massachusetts Turnpike. Rosenthal received a building permit last week to begin work on Yawkey Station, a new commuter rail station at the center of his development site.

“There is still no appetite in the financial markets for condominiums or speculative office buildings,’’ Rosenthal said. “But there is a ton of interest in well-located apartments and parking in key areas.’’

Last week, Thomas N. O’Brien, the developer proposing to replace the Government Center garage with a new mixed-use complex, also signaled his intention to build a large number of residences on the site. A prior plan for the site had called for a towering office complex.

Some of the most significant progress is being made at building sites outside Boston. In Weymouth, contractors have begun work on the first of thousands of new homes at SouthField, a planned mini-city that when completed could include a golf course and 2 million square feet of stores and commercial space, including a movie studio. Other projects are proceeding to remake downtown Quincy and develop Northwest Park in Burlington, a 285-acre site with space for new offices, stores, and homes.

“It’s still not great, but there are a lot of signs of life out there,’’ said Vasil. “The process of building takes a while, and right now people are looking around and saying that Boston is a good risk.’’

Casey Ross can be reached at cross@globe.com.

On June 30, 2011, Service Point Solutions issued a Press Release – in Spanish – to talk about its expected first half 2011 results. To date, I’ve not found an English language version of that Press Release.

In the first section below, you’ll find the Spanish-language version of that press release. After that, you’ll find an English-language interpretation of that press release, as interpreted by Google Translate (which does not work perfectly.)

Spanish-language version:

Las ventas de Service Point (93% en el extranjero) aumentarán hasta 111 millones de euros y su beneficio operativo alcanzará 4 millones de euros, un 68% más, durante el primer semestre de 2011.

Barcelona, 30 de Junio de 2011. Se ha celebrado hoy la Junta General de Accionistas de Service Point Solutions, en la que la compañía ha presentado sus datos estimados de cierre para primer semestre y para el conjunto del presente ejercicio.

El EBITDA esperado para los primeros 6 meses del año es de 9,2 millones de euros, lo que representa un crecimiento del 14% respecto al mismo periodo del año anterior, asimismo se prevé que el beneficio operativo (EBIT) alcance los 4 millones de euros, un 68% más respecto a 2010.

Para el conjunto del ejercicio, SPS espera conseguir un EBITDA de 21 millones de euros (143% más) y un EBIT de 9 millones.

El importante incremento en los resultados es debido principalmente al crecimiento de las ventas de SPS en el canal online, así como la mayor implantación y desarrollo de la actividad del grupo en el sector financiero y en los servicios de impresión bajo demanda. A nivel geográfico, los mercados donde SPS espera obtener más crecimiento son los de Escandinavia (Noruega y Suecia), Reino Unido, Alemania y Estados Unidos. Actualmente, las ventas del grupo Service Point a nivel internacional representan más del 93% del total.

La Junta de Accionistas ha aprobado la emisión de acciones a favor de los antiguos accionistas de Holmbergs, como parte del pago de la adquisición de dicha compañía. Las acciones de Service Point han sido valoradas en 0,78 euros por acción a los efectos de esta transacción.

English-language version (per Google Translate):

Sales Service Point (93% abroad) will increase to 111 million euros and operating profit will reach 4 million euros, up 68% during the first half of 2011.

Barcelona, June 30, 2011. Was held today the General Meeting of Shareholders Service Point Solutions, in which the company has submitted its estimates close to the first half and for the whole of this year.

The expected EBITDA for the first 6 months of the year is 9.2 million euros, representing growth of 14% over the same period last year, also provides that the operating profit (EBIT) reached 4 million euros, up 68% compared to 2010.

For the full year, SPS expects to achieve EBITDA of 21 million euros (143% increase) and an EBIT of 9 million.

The significant increase in results is due mainly to sales growth of SPS in the online channel, as well as the largest implementation and development of the group’s activities in the financial sector and on-demand printing services.

Geographically, the markets where it expects more growth SPS are in Scandinavia (Norway and Sweden), United Kingdom, Germany and the United States. Currently, the Service Point Group sales worldwide representing over 93% of the total.

The shareholders approved the issuance of shares to the former shareholders of Holmbergs as part payment for the acquisition of that company. Service Point’s shares were worth 0.78 euros per share for the purposes of this transaction.

________________________

Joel’s comments:

Just one…..

It says in the Press Release that ….“The shareholders approved the issuance of (SPS) shares to the former shareholders of Holmbergs as part payment for the acquisition of that company. Service Point’s shares were worth 0.78 euros per share for the purposes of this transaction.”

Shares of Service Point Solutions are trading at just under .40 Euro per share. Does this mean that the former owners of Holmbergs, who received SPS shares as part of the purchase price of their company, are holding SPS shares that are now worth nearly 50 % less than when they were first issued?

Manage to come down with a nasty case of strep throat that:

a) renders you unable to eat

b) renders you unable to drink

c) comes with several days of night (and day) sweats

d) de-energizes your mind completely (as well as you body)

e) comes with other “pleasant” side effects I’ll not mention

Sorry for the lack of posts this past week, but I’ve been concentrating my efforts on my quick weight-loss program (and it’s still not over, so my energy level is still low.)