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MUSKEGON -- Many have responded to the call for the city of Muskegon to use "eminent domain" to take the former paper mill property from its new private owner with outrage. While Lakeside and Bluffton neighbors and environmentalists have issues over environmental cleanup and plans for industrial redevelopment of the 120-acre site on Muskegon Lake, some among them call for a public taking of the property.

The main pro-business organization in Muskegon is not ready to immediately jump on private property rights argument many MLive commenters have voiced. Northc9r is typical among those arguing the point.

You people are the same ones that would scream bloody murder if the city claimed eminent domain to take your property, as would I, but you're ok with it when someone else holds the deed and you have your own agenda.

I've posted it before regarding this but I hope you get the living **** sued out of you for trying to take away property rights!

And then muskdem wrote:

Are you people freaking kidding me? You want the city to take this man's property because you want more condos and offices? ... Are you now willing to pay him fair market price (plus a fair profit for his investment and work completed) for this property and pay for environmental cleanup of this property? ... I am appalled at the attitude of this citizens group, that any other day would scream about government interference. Eminent domain has been abused too many times . What if it was your house they wanted, so an abortion clinic or medical marijuana facility could be opened, for the greater good of society? And your local government was in favor of it. So back off, shut up, and let this man run his business in a profitable manner and create some much needed jobs, since you were not lining up to do so.

But Muskegon Lakeshore Chamber of Commerce President Cindy Larsen has another take. She and her organization are not taking a specific position in the debate over whether the city should rezone or use "eminment domain" on the former Sappi Fine Paper property now owned by Melching Inc.

But as the difficult public policies on the Sappi property get debated and a private property owner such as Doug Melching makes his way through the demolition and redevelopment process, Larsen would offer up the guiding principles of "sustainability" that are embraced by many businesses today.

"The principles of sustainability have to apply," Larsen said of the Sappi issue. "Progressive companies today make these their principles."

The sustainability philosophy is built on the "triple bottom line." A successful business must be built upon economic prosperity that comes with profits, environmental integrity and social justice.

Read more:
The issues surrounding the Sappi site are not so clear cut, Muskegon chamber chief says

NEW YORK--(BUSINESS WIRE)--

Fitch Ratings has affirmed the 'AAA' ratings assigned to the auction rate preferred shares (ARPS) issued by the following four closed-end funds sub-advised by Pacific Investment Management Company LLC (PIMCO):

PIMCO High Income Fund (NYSE: PHK - News)

--$292,000,000 of ARPS consisting of Series M, T, W, TH and F, each with a liquidation preference of $25,000 per share, affirmed at 'AAA';

PIMCO Corporate & Income Strategy Fund (NYSE: PCN - News)

--$169,000,000 of ARPS consisting of Series M, T, W, TH and F, each with a liquidation preference of $25,000 per share, affirmed at 'AAA';

PIMCO Income Strategy Fund (NYSE: PFL - News)

--$78,975,000 of ARPS consisting of Series T, W and TH, each with a liquidation preference of $25,000 per share, affirmed at 'AAA';

PIMCO Income Strategy Fund II (NYSE: PFN - News)

--$161,000,000 of ARPS consisting of Series M, T, W, TH and F, each with a liquidation preference of $25,000 per share, affirmed at 'AAA'.

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Fitch Affirms Preferred Share Ratings of 4 PIMCO Closed End Funds at 'AAA'

Bangalore-based team to focus on M&A advisory and Private Placements in Technology and Education

BALTIMORE--(BUSINESS WIRE)--Signal Hill Holdings LLC (Signal Hill), the parent of Baltimore-based Signal Hill Capital Group LLC, a leading investment bank with a focus on growth companies, is pleased to announce the launch of Signal Hill Capital Advisory India Pvt. Ltd (Signal Hill India), a newly-created investment banking business based in Bangalore, India.

The combination of Signal Hills extensive sector knowledge and global distribution capabilities, balanced by the Indian teams local track record, domain knowledge and relationships, will enable us to hit the ground running and seize the tremendous opportunity that the Indian M&A and private placement markets offer.

Signal Hill India will specialize in M&A advisory and private placements with a focus on the IT / Technology and Education sectors. The business will be headed by Klaas Oskam, a highly regarded, senior banking professional with significant experience in the Indian market. Prior to joining Signal Hill India, Klaas Oskam was a Director in the Investment Banking team of Ernst & Young India. Joining Mr. Oskam are George Anthraper, Vice President, formerly Director and Head of India Operations for Technology Holdings, and Meherzad Kelawala, Vice President, formerly Associate Vice President within the Investment Banking team of Ernst & Young India. Over the last five years, this team has advised on over 20 M&A and VC/PE financing transactions in India in sectors such as: IT Services; BPO; Enterprise Software; Healthcare IT; Mobile Computing & Mobile value-added services (VAS); Internet and Education.

Our decision to expand to India was driven by our expectation of significant continued growth in this increasingly important and sophisticated market, coupled with the opportunity to associate ourselves with the unsurpassed talent and experience Klaas and his team bring to client engagements, said Scott A. Wieler, Signal Hill chairman. By investing in India, we see an opportunity to leverage the deep domain experience for which Signal Hill is well-known in the US, with an established, dynamic and experienced banking team in India.

Klaas Oskam, Managing Director commented: The combination of Signal Hills extensive sector knowledge and global distribution capabilities, balanced by the Indian teams local track record, domain knowledge and relationships, will enable us to hit the ground running and seize the tremendous opportunity that the Indian M&A and private placement markets offer.

One of the main contributors to Indias economic growth over the last 10 years has been the IT sector, which is poised to become a US $225 billion industry employing 30 million people by 2020. Although IT Services and BPO continue to be the main revenue contributors to the Indian IT sector, venture capital and private equity investors have recently been paying significant attention to emerging growth sectors including Internet, Enterprise Software / Software-as-a-Service (SaaS) and Mobile computing. Likewise, there is currently tremendous growth in the Indian private Education sector, which is estimated to grow to US$42 billion by 2013.

Signal Hill has chosen an opportune time to enter the Indian market considering the growth we are witnessing in private placements and M&A activity in the sectors covered by Signal Hill, said K. Ganesh, serial entrepreneur and Founder & CEO of TutorVista. Furthermore, entrepreneurs, VCs and company boards are increasingly looking to hire specialist investment bankers with deep sector expertise and global distribution capabilities. Having previously worked with Signal Hill, Klaas and his team, I believe they have the level of professional expertise and sector knowledge to make this India venture a success.

About Signal Hill:

Signal Hill is a privately-held investment banking partnership with a sole focus on growth companies. Our professionals have deep expertise in Information Technology, Media & Internet, Telecom Services & Internet Infrastructure, Communications, Education & Business Services, and Healthcare Services. Signal Hill has more than 50 professionals across five offices in the US: Baltimore, Nashville, New York, Reston, San Francisco (San Bruno). Signal Hill professionals have completed more than500 M&A advisory and financing transactions with leading growth companies, both domestically and internationally.

Originally posted here:
Signal Hill Announces Launch of India Initiative

BOSTON--(BUSINESS WIRE)--

Proskauer announced that Timothy W. Mungovan has joined the firm as a Partner in the Boston office. Mr. Mungovan was the founder and leader of the Private Fund Disputes team and was formerly the Practice Group Leader of the Commercial Litigation and Financial Services and Securities Litigation Practice Groups at Nixon Peabody.

Mr. Mungovan will continue to focus his practice on litigation involving private investment funds and fund sponsors, including hedge funds, private equity funds, venture funds, and other investment vehicles. He has represented funds, fund sponsors, investment advisers, managers, principals, feeder funds, institutional and individual investors in various disputes, including control contests, partnership disputes, securities claims, restructurings, general partner removals and claims of fraud.

In addition to his private investment fund disputes practice, Mr. Mungovan has experience in a variety of complex disputes, including securities, fiduciary duties, fraud and trade secrets litigation, as well as government investigations and regulatory matters. Mr. Mungovan was recognized by Chambers USA for Commercial Litigation in Massachusetts in 2010 and 2011.

Tim has a broad-based practice in complex commercial litigation that serves as a true strategic complement to our corporate practice, particularly our representation of private investment funds, fund sponsors and their portfolio companies, said Robert J. Cleary, co-Chair of Proskauers Litigation Department. He is an important addition to our Boston-based litigation practice and our firmwide capabilities.

The deep domain expertise and global scope of Tims practice will be of particular benefit to our fund clients as we continue to expand and enhance our private investment funds-related capabilities across the firm, said Robin A. Painter, co-Chair of Proskauers Corporate Department and global co-head of the Private Investment Funds Group.

Proskauer has expanded its private investment funds practice with the recent additions of Nigel van Zyl, Kate Simpson and Oliver Rochman in London as well as regulatory specialists Peter McGowan in London and Gregory Merz in Washington, DC and Boston. The firm also announced the expansion of its litigation capabilities with the addition of Helene D. Jaffe as a Partner in New York and co-head of the firms Antitrust Group.

Proskauers Litigation Department, which has been described by Chambers USA as a premier litigation group populated by fantastic trial attorneys, represents defendants and plaintiffs, multinationals, middle market and small-cap businesses, financial institutions, partnerships and individuals across a wide range of commercial areas.

In addition to its litigation practice, Proskauers Boston office is home to one of the best and most widely recognized private investment funds practices in the world, leading corporate finance and transactional groups, patent law, intellectual property, and labor and employment practices.

About Proskauer

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Proskauer Expands Litigation Practice, Private Investment Funds Capabilities with Addition of Partner Timothy Mungovan ...

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