GENIVAR Income Fund Acquires Henderson Paddon & Associates, an Ontario-based Civil and Environmental Engineering Firm

The GENIVAR Income Fund announce the acquisition of Henderson Paddon & Associates Limited, an Ontario-based civil engineering and environmental consulting firm. GENIVAR now has more than 600 employees in Ontario. “I am very pleased to welcome Henderson Paddon to the GENIVAR team,” said Pierre Shoiry, GENIVAR’s President and CEO. “This acquisition allows us to consolidate our municipal infrastructure, transportation and... 

Ramco-Gershenson Announces the Contribution of the Plaza at Delray Shopping Center to Joint Venture

Ramco-Gershenson Properties Trust announced today that it has contributed the Plaza at Delray shopping center in Delray Beach, Florida, to a joint venture with an investor advised by Heitman LLC. Permanent financing for the shopping center was secured by the joint venture in the amount of $48 million for five years at an interest rate of 6.0%. This is the ninth shopping center to be acquired by the joint venture adding to an impressive line-up of... 

Capstone Quarters Student Condo Auction Results in $3.21 Million Sellout

Thursday’s auction of 29 units in the Capstone Quarters development was a complete sellout, with bidders snapping up all of the units for a combined $3.21 million. “We had a great product and a strong field of bidders. That led to an excellent outcome,” said Warren Ward, president of Albert Burney Auction Company, which managed the sale. Thursday’s sale was the second auction for the development. An auction in April had resulted in the sale... 

Steel City … here we come

Scott Box wouldn’t mind if Murfreesboro acquired the nickname Steel City. That would mean the power tool and machinery manufacturing company he helped form and headquartered in Murfreesboro less than two years ago had made its mark in the competitive tool market. Steel City Tool Works, founded in 2005, is a privately held company with an investment group led by Box and Mark Strahler, both long-time executives in the machinery industry, who grew... 

Caterpillar 4Q Profit Rises As High Costs Offset Strong Sales

Heavy equipment maker Caterpillar Inc. said Friday that higher operating costs trimmed fourth-quarter profit growth to 4 percent, but predicted strong results for 2007 despite an expected slowdown in U.S. machine and engine sales. The forecast sent the company’s shares up more than 2 percent in trading on the New York Stock Exchange, even though it mirrored a revised outlook issued three months ago that predicted Caterpillar’s four-year... 

Less stock means lower compensation for Valspar CEO

Total compensation for The Valspar Corp.’s CEO William Mansfield dropped 24 percent in 2006, even though his salary and bonus both jumped, the company reported Friday. According to Valspar’s proxy statement for fiscal year 2006, which ended Oct. 27, Mansfield earned $826,923 in salary, and received a $2,797,067 bonus. In 2005, he received $680,173 in salary and a $359,131 bonus. However, his total compensation dropped to $5.1 million in...