Heritage opens new FBO at BTV, celebrates 25 years

first_imgHeritage Aviation, Inc.,Heritage Aviation will unveil its brand new, 79,000- square-foot, eco-friendly Fixed Base Operation (FBO) at the Burlington International Airport (BTV) during a celebration to be held on May 20, 2010. The company is proud to offer a full-service facility with 24/7 service at this important international gateway. At the event, sister company Heritage Flight, will celebrate 25 years of providing charter flight services.At the opening gala on May 20th, guests will have the opportunity to experience Heritage Aviation s FBO and hangar, complete with aircraft on display. Heritage Aviation engaged local Vermont companies and crafts people in the design, construction and outfitting of this building. The event will highlight that important local association. A Vermont Symphony Orchestra quintet will provide the musical accompaniment while the chef from Vermont s Culinary Resort and Spa, The Essex dishes up bites utilizing local ingredients. A sampling of local microbrews along with paired wines from Vermont and around the country will also be served.Heritage Aviation caters to transient pilots, their passengers, and aircraft owners. The facility houses a well-appointed lounge featuring handcrafted furnishings by Vermont artisans of natural woods, stone and textiles from reclaimed and sustainable sources. Pilots can enjoy the well-equipped gym, game room, media room, as well as flight planning and snooze rooms. We are tremendously proud of our new FBO, from the hangar that needs little to no electrical lighting during daytime shifts, to the LEKTRO tugs that provide exceptionally safe aircraft handling while still minimizing our carbon footprint, said Heritage Aviation President, Chris Hill. This new facility is also a great way to celebrate our sister company, Heritage Flight, and their 25 years providing charter flight services.Heritage also offers avionics, maintenance, detailing and aircraft management services. The maintenance department earned the FAA Diamond award and the avionics division, has been recognized by the Aircraft Electronics Association (AEA) for excellence. For ground handling, detailing, fueling, hangar space and to request line services, Heritage Aviation is the area’s largest and most luxurious FBO with U.S. customs located conveniently on site.Heritage Aviation s brand new state-of-the-art FBO designed by TruexCullins, utilizes green technology, eco-friendly material, and is on track to be LEED Silver certified. The facility is partially powered by renewable resources including solar and wind energy generated by solar panels and the nation’s first community scale wind turbine at a general aviation facility. Rain water is collected and reused, and the building has one of the largest green roofs in all of New England. Additionally, the parking lot was constructed using pervious pavement, a porous substitute for traditional asphalt, which allows water to be absorbed into the ground rather than runoff into storm drains.About Heritage AviationHeritage Aviation, the new 24-hour general aviation facility at the Burlington International Airport provides ground handling, fueling, and other aviation support services to transient and locally based domestic and international aircraft. Their location is ideally situated for inbound and outbound international traffic with on-site US Customs. More information about the company can be found on their website: www.HeritageFBO.com(link is external).Heritage Aviation s sister company, Heritage Flight, is an FAA-certified repair station providing aircraft maintenance and avionics services to the general aviation community. Heritage Flight also operates aircraft globally and is one of the nation s premier aircraft charter and management companies. More information about the company can be found on their websites: www.flyheritage.com(link is external).Source: Heritage. 4.12.2010# # #last_img read more

Governor Wolf Announces All Sports America to Reshore Jobs to Northumberland County

first_imgGovernor Wolf Announces All Sports America to Reshore Jobs to Northumberland County April 13, 2017 Economy,  Jobs That Pay,  Press Release Harrisburg, PA – Today, Governor Tom Wolf announced that All Sports America, Ltd., a manufacturer of athletic uniforms, will expand its Storm Uniforms Division at its current facility in Point Township, Northumberland County. The company’s expansion will create 42 new jobs during the next three years and will reshore the manufacturing of products currently being produced overseas.“Anytime we are able to be involved in helping a company like All Sports America add new jobs and expand operations, it is a positive step for the region, as well as for the state as a whole,” said Governor Wolf. “This is even more meaningful in cases like this, where the project also involves products currently being produced overseas and bringing some of those operations back to America. This is a signal that Pennsylvania is not just competitive with our neighboring states but can also compete in the global economy.”All Sports America, Ltd. will invest more than $900,000 in the project to expand the cut and sew operation of its Storm Uniforms Division, which specializes in youth sports jerseys. Additionally, the company has upgraded its facility and purchased new sewing machines, heat presses, laser cutters, and printers. In addition to creating 42 jobs, another 21 existing jobs will be retained. The company will commence hiring during a two-day open house April 21-22.Earlier today, Department of Community and Economic Development Secretary Dennis Davin toured the facility, congratulating the company on the planned expansion.“All Sports America is very excited for this opportunity to be bringing jobs back to Pennsylvania,” said Richard Rock, President & CEO, All Sports America.All Sports America received a funding proposal from the Department of Community and Economic Development that includes a $40,000 Pennsylvania First Program grant and $42,000 in Job Creation Tax Credits to be distributed upon the creation of the new jobs. The company has also been encouraged to apply for a $400,000 low-interest loan through the Pennsylvania Industrial Development Authority (PIDA).The project was coordinated by the Governor’s Action Team, an experienced group of economic development professionals who report directly to the governor and work with businesses considering locating or expanding in Pennsylvania.“It is always great to hear that a local business is thriving and committed to growth and development in our community,” State Rep. Lynda Schlegel Culver (R-Northumberland/Snyder) said. “Through the expansions at the Point Township facility, more jobs will be created and new machines and technology will be incorporated in the processes. Congratulations to All Sports America, and I extend my best wishes for continued success.”All Sports America, Ltd. is one of the largest independent suppliers of youth football equipment and uniforms to youth sports programs in North America. The company specializes exclusively in products for youth teams and leagues ranging between the ages of 6 to 14. The company designs uniforms and equipment specifically for the needs of the children they provide to, which allows them to offer factory direct prices. The company separated its manufacturing arm of the company from the supply division in 2013 and does business as the Storm Uniforms Division; both companies are now located in Northumberland County.center_img SHARE Email Facebook Twitterlast_img read more

Banks Lose Big Over Bad MBS Numerous Suits

first_imgBanks Lose Big Over Bad MBS, Numerous Suits in Data, Government, Origination, Secondary Market, Servicing Agents & Brokers Attorneys & Title Companies Bank Failure Bank of America Citigroup Fannie Mae FHFA Freddie Mac Investment Investors Lenders & Servicers Mortgage Fraud Mortgage-Backed Securities Processing Service Providers Wells Fargo 2011-09-16 Ryan Schuette September 16, 2011 438 Views center_img Even as the good news emerged that fewer banks are failing countrywide, “”_Bloomberg News_””:http://www.businessweek.com/news/2011-09-16/mortgage-debacle-costs-banks-66-billion-as-suits-sap-profit.html found that the nation’s biggest lenders have lost some $65.7 billion in bad mortgage-backed securities, with billions in the red. A number of suits by mortgage lenders, one against the other, plus a barrage of action to recover losses for “”Fannie Mae””:http://www.fanniemae.com/kb/index?page=home and “”Freddie Mac””:http://www.freddiemac.com/ suggest more losses may be in store for U.S. financial institutions.[IMAGE]_Bloomberg_ compiled the data by adding up the sum total of gains and losses from financial statements and regulatory filings.What did the news service find?Of the nation’s biggest lenders, “”Bank of America””:https://www.bankofamerica.com/ saw the most red, with $39.1 billion in dollars never seen again since January 2007. _Bloomberg_ ranked several other lenders after, with “”JPMorgan Chase””:http://www.jpmorganchase.com/corporate/Home/home.htm suffering a $16.3-billion hit and “”Wells Fargo””:https://www.wellsfargo.com/ oozing $5.09 billion as a result of securitized loans that went bust during the financial crisis.According to the news service, “”Ally Financial Inc.””:https://www.ally.com/index.html?CP=ppc130830 and “”Citigroup Inc.””:http://www.citigroup.com/citi/homepage/ followed the big three with $3.28 billion and $1.9 billion in losses. Unequal capital positions in the marketplace meant that some banks hurt more than others, with Wells Fargo, third on the list, and Citigroup, ranking fifth, both placing first and third among mortgage lenders with the most assets nationwide.The share of culpability for the financial crisis waxes even more unequal for other lenders. [COLUMN_BREAK]_Bloomberg_ quoted Paul Miller, a onetime bank examiner, now an analyst with “”FBR Capital Markets & Co.””:http://www.fbr.com/, as saying that Bank of America, Wells Fargo, JPMorgan, and Ally will absorb 60 percent of expenses in faulty loans and litigation, with the former shedding capital to cover 33 percent of the overall costs.The cost breakdown arrives amid a flurry of suits to recoup the losses. On Thursday Wells Fargo “”pressed its advantage””:https://themreport.com/articles/latest-suit-adds-to-mbs-woes-for-jpmorgan-chase-2011-09-15 against JPMorgan Chase by filing suit to ensure that the latter repurchases the bad mortgage-backed securities that have afflicted the lender.In early September the “”Federal Housing Finance Agency””:http://www.fhfa.gov/ (FHFA) opened up a “”staggering 17 suits””:https://themreport.com/articles/fhfa-may-sue-mortgage-giants-over-mbs-losses-2011-09-02 to recover some $41 billion in losses for Fannie and Freddie, according to the _Los Angeles Times_.Federal officials are claiming that a system tanked by systemic and fraudulent activity needs to account and cover the losses.””You’re not talking about improperly stapling together two documents, you’re talking about systematic fraud in the system,”” _Bloomberg_ quoted Neil Barofsky, the former special inspector general for the Troubled Asset Relief Program, as saying. “”What this shows is that before the financial crisis, the banks were essentially lying to the purchasers of the mortgages about the quality.””Other market watchers insist that the financial losses confer a setback upon the economy at large as more lenders pay out in expensive litigation.Speaking with _MReport_ for a past story, “”Tim Rood””:http://www.collingwoodllc.com/team.html, a managing partner with the “”Collingwood Group””:http://www.collingwoodllc.com/index.html and a past principal for Fannie Mae, shared his views about the bigger picture.””You have a lot of unintended consequences from these moves,”” he said. He explained that mortgage lenders could find themselves more prone to market risk and insolvency as a consequence of tens of billions of dollars in litigation costs.””If we go after these guys, we should be a bit more thoughtful about how this will help the economy,”” Rood told _MReport_. Sharelast_img read more