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Five things you need to know today, and how airlines treat the 1 percenters

Mark Bowen Media Chad Munitz, 3CDC executive vice president, said the organization has long-term plans for Over-the-Rhine. Rob Daumeyer[1] Editor- Cincinnati Business Courier Email[2] | Twitter[3] | LinkedIn[4] Good morning, Cincinnati! Thank the snow gods for bringing back normal 'Nati weather this morning. Those last few warm, sunny days were confusing me. Here are the five most important things you need to know to help start your busy business day: 3CDC's long game We pointed you yesterday to our Weekly Edition centerpiece on Over-the-Rhine's residential boom[5]. Chris Wetterich (@ChrisCinciBiz)[6] follows that up with a reminder that when it comes to OTR, the super-successful Cincinnati Center City Development[7] Corp. (3CDC[8]) thinks long term[9]. Money quote from Chad Munitz[10], 3CDC executive vice president: “Our goal is to continue to (redevelop) all of Over-the-Rhine, and that’s north and that’s east." Mason ready to fight Just because the early money has General Electric's[11] new 1,400-plus job U.S. Global Operations Center[12] going to downtown Cincinnati, and possibly to the Banks[13](GE has said it wants a "high-profile" location) doesn't mean there won't be a mad rush from all parts of Greater Cincinnati to offer GE most any kind of breaks or concessions. Mason, which has been named as a possible site, says it won't go down without a fight[14], Tom Demeropolis (@TomCinciBiz)[15] reports. Law firm leaving Carew Demerpolis reports that Dressman Benzinger LaVelle is moving its downtown Cincinnati office to Atrium Two from Carew Tower. The law firm said it outgrew its space in Carew’s 35th floor. DBL Law will relocate to 10,000 square feet of space at Atrium Two later this summer. Demeropolis wrote a centerpiece in our Weekly Edition earlier this month on what will become of Carew.[16][17][18] Gay marriage in Ohio gets boost Daumeyer oversees the Courier's editorial department. References^ Rob Daumeyer (feeds.bizjournals.com)^…
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Pending shutdown of Coldwater Creek will affect eight stores in Massachusetts

Scott Paulus | Milwaukee Business Journal Coldwater Creek's pending shutdown will close 365 stores, including eight in Massachusetts. Jon Chesto[1] Managing Editor, Print- Boston Business Journal Email[2] | Twitter[3] | Google+[4] The pending shutdown of the Coldwater Creek[5] women's apparel chain will leave empty spaces in several of Massachusetts’ newest upscale lifestyle centers. Coldwater Creek filed for Chapter 11 bankruptcy today[6] to help smooth its pending closure after failing to find a buyer or a new source of capital to pay for a turnaround. The Idaho-based company had shopped itself to as many as 75 potential buyers last fall without any luck. The company has been struggling since 2007 — when the oncoming recession took its toll on Coldwater Creek, like many other retailers. From 2007 and 2011, there were numerous management changes and strategic shifts, along with unmet sales expectations, that led to a disastrous buildup in inventory, according to a document filed in bankruptcy court in Delaware. The company’s revenue had fallen to $743 million in 2012[7], down from a peak of $1.1 billion in 2006. The Coldwater Creek closure is bad news for the nearly 6,000 people who work for the publicly traded company. It’s also bad news for the landlords who will need to find new tenants as 365 Coldwater Creek stores, along with seven day spas, close for good. Going-out-of-business sales are expected to begin early next month at all the chain’s locations. In Massachusetts, at least, this means empty spots in several of the higher-end outdoor shopping centers that have opened in the past decade, such as Derby Street Shoppes in Hingham, Legacy Place in Dedham and Wayside in Burlington. In all, eight stores in Massachusetts are affected. The others are at the Holyoke Mall at Ingleside, Mansfield Crossing, Solomon Pond Mall in Marlborough,…
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Venture funding spikes; Silicon Valley dominates

Patrick Hoge[1] Reporter- San Francisco Business Times Email[2] | Google+[3] | Twitter[4] | LinkedIn[5] U.S. venture capital investment hit its highest level since 2001 in the first quarter, and California companies were by far the largest recipients of that money, according to a new report from CB Insights[6], the New York venture capital and private company research firm. Nationally, nearly $10 billion went into 880 deals, up 44 percent over the first quarter of 2013, though the number of deals rose just 5 percent, according to the report, which only counted rounds in which venture capital firms participated and not rounds strictly from hedge funds or mutual funds. California companies took 58 percent of all venture funding - $5.75 billion - notching more deals than the next 13 states combined, CB Insights said. The largest deal, by far, was the $900 round just disclosed by Cloudera, the Palo Alto database technology firm. Silicon Valley[7] took 85 percent of all the state’s venture funding for the first quarter, with the top ten financings in the state all happening in the region. Nationally, the three most active venture firms were early stage investor 500 Startups, Kleiner Perkins Caufield & Byers and New Enterprise Associates. Late stage funding was up, with the number of companies raising money at $1 billion-plus valuations up dramatically, while Series A funding was down. CB Insights CEO Anand Sanwal said tech companies are getting money on very good terms, big rounds allow founders and early employees to cash out before an IPO and healthy balance sheets help them to recruit talent, ramp sales, access public market experts and otherwise apply finishing touches before making a public debut. Patrick Hoge covers technology for the San Francisco Business Times. References^ Patrick Hoge (feeds.bizjournals.com)^ Email (feeds.bizjournals.com)^ Google+ (plus.google.com)^ Twitter (twitter.com)^ LinkedIn…
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TCF landlord eyes redevelopment after bank leaves

Sam Black | Minneapolis/St. Paul Business Journal TCF Financial is leaving its downtown Minneapolis office complex. Sam Black[1] Senior reporter- Minneapolis / St. Paul Business Journal Email[2] | Twitter[3] | Google+[4] Franklin Street Properties[5] always knew that the namesake tenant for its TCF Tower and TCF Bank[6] Building could leave its downtown buildings. Now it's a reality.[7] When Franklin Street bought the adjoining buildings in 2010 from Ryan Cos. US Inc.[8], it underwrote them knowing that the bank could leave one day. Now, TCF has confirmed that it's leaving downtown and taking 1,150 employees as it consolidates several metro offices into a larger space in Plymouth. The possibility was reported by the Business Journal two weeks ago[9]. "TCF has been a good tenant in the building," said Will Friend[10], vice president-regional director for Wakefield, Mass.-based Franklin Street. "No landlord wants to lose a major tenant like TCF," he said. "We certainly are not surprised at their decision to relocate given our recent conversations as well as the news of late. We wish them the best." TCF Tower, the multi-tenant building at 121 S. Eighth St. next to the Foshay Tower, is probably going to stay as it is. Franklin Street is finishing up some common area renovations to that property this year. But Franklin Street has already started figuring out what to do with the TCF Bank Building, at 801 Marquette Ave. It already started talking about redevelopment scenarios with Minneapolis-based Ryan Cos, who continues to manage both downtown TCF buildings. Ryan, one of the region's largest developers, began working on plans for an office tower at that site before the recession hit and Friend said Ryan is assisting with the evaluation today. Friend said it is too early to discuss details including size or designs of a new building.…
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Will Supreme Court ruling unleash Washington state's big political donors?

Contributed Edmund O. Schweitzer, III, president of Pullman-based Schweitzer Engineering Laboratories, is ranked eighth in the nation among hard-money political donors. He supports Republicans. Ashley Stewart[1] Staff Writer- Puget Sound Business Journal Email[2] | Twitter[3] Washington state’s big-money political donors could have more options – and more influence – after the U.S. Supreme Court this week loosened limits on individual campaign contributions. The ruling means individuals will be able to pour even more money into federal campaigns, and some of the people most likely to be unleashed by the decision are in Washington. Twelve residents of Washington state reached the $117,000 federal cap on contributions during 2012’s election cycle, according to the Center for Responsive Politics. Among them, three are on the list of the nation’s top 30 contributors. Now, that cap is gone, and some worry that a small number of people will have even more control of the nation’s political process. Donors still can’t give more than $2,600 to one candidate each election, meaning primary and general, but they can now donate to more candidates. “It’s crippling for democracy,” said Alice Woldt[4], executive director for Washington Public Campaigns, a state-wide organization against private campaign financing. The decision “removes one more screen to allow the wealthiest of individuals to buy our public officials and stop out the voice of voters.” Previously, wealthy donors were limited in the aggregate amount they could give to federal candidates, parties and political action committees in each two-year election cycle. This cycle, the cap would have risen to $132,200, and Supreme Court's 5-4 ruling on April 2 allows donors to vastly expand their giving — for example, they can now donate to a candidate in every U.S. House and Senate race. The majority, led by Chief Justice John Roberts, said that caps on campaign…
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Wichita State Foundation raises more than $1M for Koch Global Trading Center

A Wichita State University representative snapped a picture Wednesday of the newly installed sign denoting the future home of the Koch Global Trading Center. Elizabeth King, president and CEO of the WSU Foundation, shared the photo with the Wichita Business Journal. Josh Heck[1] Reporter- Wichita Business Journal Email[2] | Twitter[3] The Wichita State University Foundation[4] has raised more than $1 million for the creation and endowment of the Koch Global Trading Center. Elizabeth King[5], president and CEO of the Foundation, tells me that the entire amount raised was through private donations. The center, which is being built in the W. Frank Barton School of Business inside WSU’s Clinton Hall, is being created as a way for students to learn about financial and commodities trading. Koch Industries[6] Inc. donated $346,000 last summer[7] to help launch the center. In January, the WSU Foundation announced that Cargill Meat Solutions[8] Corp. would contribute $120,000 toward the project[9]. On Wednesday, a sign denoting the future home of the Koch Global Trading Center was hung in Clinton Hall. The center is expected to be completed this summer. Josh Heck covers health care, professional services, education and energy. References^ Josh Heck (feeds.bizjournals.com)^ Email (feeds.bizjournals.com)^ Twitter (twitter.com)^ Wichita State University Foundation (www.bizjournals.com)^ Elizabeth King (feeds.bizjournals.com)^ Koch Industries (www.bizjournals.com)^ donated $346,000 last summer (www.bizjournals.com)^ Cargill Meat Solutions (www.bizjournals.com)^ would contribute $120,000 toward the project (www.bizjournals.com)...
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