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Overseas investors strike deal to grab San Jose hotel development site

Published Wed, 12 Feb 2025 08:52:22 GMT

SAN JOSE — An overseas investment group has struck a deal that could help it gain ownership of a San Jose hotel development site whose real estate loan has tumbled into delinquency and default.A South Korea-based group has acquired a $26.4 million loan that had been provided to the real estate firm that previously proposed a hotel at 7 Topgolf Drive in San Jose’s Alviso district, according to documents on file with the Santa Clara County Recorder’s Office.That loan is now in default and Pine Tree Specialized Private Investment Trust and KEB Hana Bank in recent months began the process to foreclose on the loan and seize the property.The lenders even scheduled a trustee’s sale to publicly auction off the property or seize the hotel project land, which totals 3.2 acres, through a foreclosure on the loan.Before the foreclosure proceeding could be completed, however, Pine Tree Specialized and KEB Hana Bank found an investment group willing to assume control of the...

Monterey County’s Chris Prieto a part of history in Tampa Bay

Published Wed, 12 Feb 2025 08:52:22 GMT

CINCINNATI – With each win, no one raised a toast. Oh, the music was a little louder in the Tampa Bay clubhouse, as players turned pressure into excitement.Perhaps because the Tampa Bay Rays are littered with youth on the roster, players were oblivious to what was occurring. So coaches just rolled with the record-breaking start to the Major League Baseball season.“We didn’t really talk about it,” Rays first base coach and former Carmel High standout Chris Prieto said. “You just learn to get in that mode and go the next day. Over 162 games, you keep grinding.”The first 13 games were one for the ages as Tampa Bay tied a Major League Baseball record for consecutive wins to start the season, a record that dates back 41 years to when the Braves achieved the feat in 1982.Carmel grad Chris Prieto has enjoyed the vibe during the Tampa Bay Rays’ winning streak. (John Devine — Monterey Herald) “I had been a part of some winning streaks as a player and coach in the minors,” Prieto said. “...

Stolen mail, pepper spray found in Bay Area felon’s vehicle

Published Wed, 12 Feb 2025 08:52:22 GMT

A Rohnert Park woman was arrested Tuesday after pepper spray and stolen documents were located in her vehicle.Most of the mail was from Sonoma County, including Rohnert Park and Petaluma, but there was some mail from the Bel Marin Keys area of Novato and other areas within Marin County, said sheriff’s Sgt. Adam Schermerhorn.He said investigating deputies reached out to the U.S. Postal Inspectors Office to assist with the investigation and locate potential victims.A deputy located a vehicle with expired and suspended registration in the area of Binford Road near Novato early on Tuesday morning. The occupant was found to be on felony probation out of Sonoma County for financial crimes and identity theft.A search of the vehicle located stolen mail, financial documents, banks cards and social security cards, as well as multiple cans of pepper spray.Shelby Wilcox, 29, was arrested on suspicion of possession of pepper spray while a felon, a felony, and misdemeanor charges possession of st...

Bay Area assemblyman’s bill calls for third westbound lane on Richmond bridge

Published Wed, 12 Feb 2025 08:52:22 GMT

Damon Connolly talks with his supporters on election night in San Rafael, Calif., on Tuesday, June 7, 2022. (Sherry LaVars/Marin Independent Journal) Marin’s representative in the state Assembly has authored a bill calling for transportation agencies to consider reopening a third westbound lane on the Richmond-San Rafael Bridge during the weekday morning commute.The bill introduced by Damon Connolly, a Democrat from San Rafael, also requests that the California Department of Transportation and the Bay Area Toll Authority evaluate adding an eastbound moveable barrier so that a bicycle and pedestrian lane can be maintained at all times.The proposed legislation, Assembly Bill 1464, passed with unanimous, bipartisan support out of the Assembly Transportation Committee with 15 votes on Monday. It is now in the Assembly’s Appropriations Committee.“Anyone who lives in the Bay Area, particularly in the East and North Bay, knows how bad the traffic has gotten on the Richmond-San Rafael ...

First phase of Highway 1 multimodal project breaks ground in Santa Cruz

Published Wed, 12 Feb 2025 08:52:22 GMT

SANTA CRUZ — The first phase of a multimodal Highway 1 transportation project broke ground in Santa Cruz on Wednesday with local planners and regional dignitaries on hand to celebrate the occasion.The effort, roughly four years in the making, is part of the Santa Cruz County Regional Transportation Commission’s Watsonville – Santa Cruz Multimodal Corridor Program, which includes a set of parallel projects taking place at three critical transportation corridors in the county: Highway 1, Soquel Avenue/Drive to Freedom Boulevard and the Santa Cruz Branch Rail Line.“I think people have had enough of the congestion,” said Regional Transportation Commission Executive Director Guy Preston. “Since the passage of our sales tax measure back in 2016 – Measure D – that gave us the ability to really move these projects forward, we’ve made great strides and this is the first of many to come.”According to the commission, this initial phase – the first of three – will in part target Highway 1 conge...

Kurtenbach: Save us, Steph — Curry will need to put the Warriors on his back in Game 3

Published Wed, 12 Feb 2025 08:52:22 GMT

Save us, Steph.For all the talk about “Strength in Numbers,” league wreckage, and the Warriors’ collectivism, the truth is that the Warriors call on their superstar to carry them to victory when the going gets tough.Time and time again, he’s come through.And the Warriors need to hop on Curry’s back again on Thursday.The playoffs might be in their early days, but the going is already tough.With Draymond Green suspended, the Warriors down 2-0 to the Kings in the teams’ first-round playoff series, and the season — and perhaps even the Warriors’ dynasty — on the line, Curry will have to summon his superhero best in Game 3.No pressure, though.What stands out about this situation isn’t merely how early it is in the playoffs but also that Curry has been good in this first-round series. Yes, he only made 3-of-13 3-point attempts in Game 2, but he’s shooting nearly 50 percent from the field, 33 percent from beyond the arc, and is averagin...

The Oakland A's purchase land for new stadium in Vegas: reports

Published Wed, 12 Feb 2025 08:52:22 GMT

(KRON) -- The Oakland A's are officially leaving Oakland, according to reports from the Nevada Independent published late Wednesday night. The team issued a statement saying they have signed a binding agreement to purchase land for a future ballpark in Las Vegas.Oakland A's president Dave Kaval said the deal with Las Vegas was finalized last week to buy a 49-acre site where the A's plan to build a stadium close to the Vegas strip, in a statement. The statement went on to say that they realize that this is a difficult day for the Oakland fans and community and that they are disappointed that they were not able to achieve a waterfront ballpark in Oakland.Oakland Mayor Sheng Thao also released a statement saying she is disappointed that the A's have decided not to negotiate with the city."In the last three months, we've made significant strides to close the deal," Thao said. "Yet, it is clear to me that the A's have no intention of staying in Oakland and have simply been using this pro...

Seagate: Fiscal Q3 Earnings Snapshot

Published Wed, 12 Feb 2025 08:52:22 GMT

DUBLIN (AP) — DUBLIN (AP) — Seagate Technology Holdings plc (STX) on Thursday reported a loss of $433 million in its fiscal third quarter.On a per-share basis, the Dublin-based company said it had a loss of $2.09. Losses, adjusted for one-time gains and costs, were 28 cents per share.The results did not meet Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 19 cents per share.The electronic storage maker posted revenue of $1.86 billion in the period, which also missed Street forecasts. Five analysts surveyed by Zacks expected $1.97 billion.For the current quarter ending in June, Seagate said it expects revenue in the range of $1.55 billion to $1.85 billion. Analysts surveyed by Zacks had expected revenue of $2.32 billion._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on STX at https://www.zacks.com/ap...

Republic Bancorp: Q1 Earnings Snapshot

Published Wed, 12 Feb 2025 08:52:22 GMT

LOUISVILLE, Ky. (AP) — LOUISVILLE, Ky. (AP) — Republic Bancorp Inc. (RBCAA) on Thursday reported net income of $28.1 million in its first quarter.The bank, based in Louisville, Kentucky, said it had earnings of $1.42 per share. Earnings, adjusted for non-recurring costs, came to $1.61 per share.The holding company for Republic Bank & Trust posted revenue of $123 million in the period. Its revenue net of interest expense was $115.3 million, falling short of Street forecasts._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on RBCAA at https://www.zacks.com/ap/RBCAASource

Inflation takes a March tumble at the wholesale level

Published Wed, 12 Feb 2025 08:52:22 GMT

NEW YORK (AP) — Inflation’s grip on businesses loosened greatly in March, raising hopes that companies and consumers will suffer less from high prices as 2023 rolls on.The U.S. government said plunging energy prices pulled the producer price index down 0.5% in March from February. It marks the biggest decrease in producer prices in three years and follows other reports showing easing inflation on broader consumer prices.Producer prices, also known as wholesale costs, track prices in the production process before they reach the consumer. As a result, the producer price index can provide early signs of where inflation is headed. Some producer price data is also used in the construction of the Federal Reserve’s preferred measure of inflation, and so the decline in producer prices means the Fed’s preferred index may also decline or come in very low when it is reported next week. Lower prices paid by businesses on raw materials and other items means they are less likely to raise prices i...