Tag Archives: M&I Bank

Jack Barry 9607

Enterprise’s Barry joins AzBA board

The Arizona Bankers Association today announced Jack Barry, chairman of Enterprise Bank & Trust’s Arizona region, was recently elected to the association’s board of directors.

“Jack is well-respected for his leadership at Enterprise as well as for his long-standing commitment to the Phoenix community,” said Lynne Herndon, AzBA board chairman. “We are delighted to welcome him to the board as we continue to expand the scope and reach of AzBA, the voice of Arizona’s banking industry for more than 100 years.”

Barry joined Enterprise in 2008 as President of the Bank’s Arizona Region. Previously, he served as Executive Vice President and Market Leader for the former M&I Bank in Phoenix, where he was responsible for all commercial banking operations in the Phoenix area. He has also held senior management positions at the former Southwest Bank in Arizona and Mark Twain Bancshares in St. Louis, Missouri.

Barry earned a BS from the University of Missouri and holds a Certificate of Accountancy from the State of Missouri. He is past President of the Arizona Chapter of the RMA, is a former director of the Arizona Chapter of the Association for Corporate Growth, is on the board of the Boys & Girls Club of Metropolitan Phoenix and is vice president of Phoenix Country Club.

Jack Barry 9607

Enterprise's Barry joins AzBA board

The Arizona Bankers Association today announced Jack Barry, chairman of Enterprise Bank & Trust’s Arizona region, was recently elected to the association’s board of directors.

“Jack is well-respected for his leadership at Enterprise as well as for his long-standing commitment to the Phoenix community,” said Lynne Herndon, AzBA board chairman. “We are delighted to welcome him to the board as we continue to expand the scope and reach of AzBA, the voice of Arizona’s banking industry for more than 100 years.”

Barry joined Enterprise in 2008 as President of the Bank’s Arizona Region. Previously, he served as Executive Vice President and Market Leader for the former M&I Bank in Phoenix, where he was responsible for all commercial banking operations in the Phoenix area. He has also held senior management positions at the former Southwest Bank in Arizona and Mark Twain Bancshares in St. Louis, Missouri.

Barry earned a BS from the University of Missouri and holds a Certificate of Accountancy from the State of Missouri. He is past President of the Arizona Chapter of the RMA, is a former director of the Arizona Chapter of the Association for Corporate Growth, is on the board of the Boys & Girls Club of Metropolitan Phoenix and is vice president of Phoenix Country Club.

East Thunderbird Square South - Retail

CBRE Completes $20.55M Sale Of East Thunderbird Square South

CBRE has completed the $20.55 million sale of East Thunderbird Square South, a 161,997 SF grocery-anchored shopping center on the NWC of Thunderbird and Scottsdale roads in Scottsdale.

Glenn Smigiel, Bob Young, Steven Brabant, Rick Abraham, Nancy Romanovsky, Kevin Schuck and Max Bippus of CBRE’s Phoenix office represented the seller, Gregg Williams of Trident Pacific Real Estate in Scottsdale, the court-appointed receiver for the asset. The buyer was Holualoa Companies; Michael Kasser, president, and Aroon Chinai, chief investment officer.

East Thunderbird Square South is located in a dense, upscale suburban neighborhood of north Scottsdale, boasting residents with significant discretionary buying power. The area’s strong demographics coupled with a limited supply of available land for future retail development have driven rental rates up to some of the highest in metropolitan Phoenix.

“East Thunderbird Square is located in one of the Valley’s strongest submarkets, which is likely to be one of the first areas to emerge from the current economic recession,” said CBRE’s Smigiel. “In addition, the property has 57,776 square feet of vacant space offering significant upside potential through lease up.”

Anchored by Smart & Final, the property’s major tenants include AZ Air Time, Bridgestone Tires, Leslie’s Poolmart and Steinway Piano Showroom. Three outparcels containing M&I Bank, Burger King and Taco Bell were not part of the sale.

East Thunderbird Square South was built in phases in 1986 and 1987 and was 64 percent occupied at the time of sale.

Most Admired Companies - AZ Business Magazine Sept/Oct 2010

2010 Most Admired Companies Winners – Workplace Culture

The Workplace Culture category recognizes companies with unique workplaces that offer employees benefits and perks, and emphasize diversity and other qualities that make the company a great place to work.

Winner: BeachFleischman PC
Category: Workplace Culture
Headquarters: Tucson
Year Est.: 1991
No. of Employees in AZ: 104
Recent Award: Accounting Today’s Best Accounting Firms to Work For – 2009
www.beachfleischman.com


video by Sonoran Studios

Although working at a CPA firm can be stressful, employees at Tucson-based BeachFleischman enjoy fun and relaxation alongside their jobs. In-house massages and ice cream socials are just a few of the ways employees recharge at the office. Work success is celebrated by featuring team stories in the company newsletter. Outside of work, the social and wellness committees take over and lead employees in a number of fun activities. Baseball games, barbecues, tennis clinics and rock climbing are some of the other ways BeachFleischman’s staff and shareholders bond while blowing off some steam.

The diversity of out-of-work activities is not the only thing BeachFleischman prides itself on. The company recruits from all over Arizona and out of state to find a diverse mix of potential employees. BeachFleischman wants the diversity of its employees to mirror the diversity of Tucson’s demographics. The company believes diversity promotes creativity and innovation, while providing an expanded knowledge base that allows it to serve a broader group of clients.

BeachFleischman also encourages its employees to pursue continual education. On average, professional staff members receive 40-60 hours of education each year. BeachFleischman encourages employees to receive professional licenses by paying for test preparation, and employees receive a bonus for passing their CPA exams. Employees who pass the CPA exam are treated to a happy hour to celebrate their success. With continuing education as a main goal, there are many opportunities to climb the corporate ladder within BeachFleischman. In 2009, BeachFleischman was named on Accounting Today’s list of Best Accounting Firms to Work For.


M&I Make Strides Walk

Finalist: M&I Bank
Category:
Workplace Culture
Headquarters: Phoenix
Year Est.: 1847
No. of Employees in AZ: 625
Recent Award: Alfred P. Sloan Award for Business Excellence in Workplace Flexibility – 2009
www.micorp.com

The Golden Rule is M&I Bank’s rule of thumb. By encouraging employees to follow the adage, “Treat others as you would like to be treated,” M&I allows everyone to be heard and respected. The company ensures a diversity of thoughts and perspectives through a multicultural and multigenerational work force. All thoughts and perspectives are welcomed with open ears.

M&I offers its employees flex-scheduling, tuition reimbursement, adoption assistance, plus everyone is eligible for wellness reimbursement to cover some of the expenses of health club memberships or weight control programs. Also, MiMentor is an online mentorship program that allows employees to connect across the organization. M&I not only wants its employees to be dedicated to their jobs, but also to extra-curricular activities such as volunteering and health-and-wellness pursuits. In 2009, M&I won the Alfred P. Sloan Award for Business Excellence in Workplace Flexibility.


Shutterfly

Finalist: Shutterfly
Category: Workplace Culture
Headquarters: Redwood City, Calif.
Year Est.: 1999
No. of Employees in AZ: 124
Recent Award: Ranked on Internet Retailers Hot 100 list – 2009
www.shutterfly.com | Facebook | Twitter

Shutterfly’s employee culture focuses on four major aspects: respect, innovation, achievement and customer centricity. The respect fostered in the Shutterfly offices creates a family atmosphere and an engaged work force that is encouraged through the sharing of ideas to be innovative. Innovation does not only relate to the employees and the products and services Shutterfly offers. It also describes Shutterfly workplaces, which are filled with beanbag chairs, pictures taken by employees, bright colors and white boards for constant brainstorming.

After work, employees can still see the benefits of working for Shutterfly. Employees can borrow a professional camera for their own use, take a free photo editing class and receive a gym membership discount. All of these benefits help to produce a high-performance culture in which employees hold themselves and each other to high standards of achievement. Shutterfly wants employees to have fun while working at a higher performance level in order to better serve the customer.


To buy a print version of the 2010 Arizona’s Most Admired Companies
go to MagCloud.com

Arizona's Most Admired Companies November-December 2010

Most Admired Companies - AZ Business Magazine Sept/Oct 2010

2010 Most Admired Companies Award Winners

Arizona Business Magazine and BestCompaniesAZ are honored to unveil the winners of our inaugural Arizona’s Most Admired Companies Awards.

With 43 winners, we think you’ll agree the awards selection committee has done an outstanding job in determining some of the most admired companies in our state.  Our primary goal in developing this program was to find those organizations that excel in four key areas: workplace culture, leadership excellence, social responsibility and customer opinion.  This list features the most prestigious companies in our state, providing us the opportunity to learn from the best.

Adolfson & Peterson Construction
Headquarters: Minneapolis
Year Est.: 1991
No. of Employees in AZ: 69
Recent Award: AIA Kemper Goodwin Award – 2009
WEB: www.a-p.com

AlliedBarton Security Services
Headquarters: Conshohocken, Penn.
Year Est.: 1957
No. of Employees in AZ: 1,047
Recent Award: Brandon Hall Research Award for Best Integration of Learning and Talent Management – 2009
WEB: www.alliedbarton.com
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American Express
Headquarters: New York
Year Est.: 1850
No. of Employees in AZ: 7,219
Recent Award: Fortune Magazine’s Most Admired Companies – 2010
WEB: www.americanexpress.com
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Arizona Charter Academy
Headquarters: Surprise
Year Est.: 2001
No. of Employees in AZ: 61
Recent Award: Elks Lodge Community Partner of the Year – 2010
WEB: www.azcharteracademy.com
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Banner Health
Headquarters: Phoenix
Year Est.: 1999
No. of Employees in AZ: 27,528
Recent Award: Gallup Great Workplace Award – 2009
WEB: www.bannerhealth.com
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BeachFleischman PC
Headquarters: Tucson
Year Est.: 1991
No. of Employees in AZ: 104
Recent Award: Accounting Today’s Best Accounting Firms to Work For – 2009
WEB: www.beachfleischman.com

To buy a print version of the 2010 Arizona’s Most Admired Companies
go to MagCloud.com

Arizona's Most Admired Companies November-December 2010

Mi Casa, Su Casa

Protecting Your Mexican Real Estate Investment

Mi Casa, Su Casa

Protecting your Mexican
real estate investment

By David M. Brown

Contrary to what you may have heard, Americans, or any non-Mexican nationals, can purchase property fee simple (or direct deed) in Mexico except when the property is in the restricted zone: 32 miles from the shoreline or 62.5 miles from the border.

mi_casaHowever, buyers can acquire coastal and border-area properties in the restricted zone by establishing a Mexican Bank Trust, or fideicomiso. The bank, as trustee, charges an annual service fee and holds the legal title to the property for up to 50 years. For less than $1,000, the potential buyers register for a permit to establish the trust at the Secretariat de Relaciones Exteriores. The permit issued, a notario prepares the deed or “escritura.” After acquisition taxes and filing fees are paid, the deed is recorded.

Unlike the English common-law based American system, Mexican law is a civil law system and therefore heavily codified. However, it is specific regarding fee-simple ownership. The Foreign Investment Law of Mexico (FIL), established in 1971 and amended twice since, explains what properties must be in a “fideicomiso” and what properties are nonresidential and therefore can be purchased by foreigners in a Mexican corporation, explains Mitch Creekmore, director of business development for the Mexico Division of Stewart Title Guaranty Company in Houston.

As beneficiary of the 50-year fideicomiso, the buyer can basically do what he or she wants: Improve it, lease it, sell it, mortgage it, will it. Your estate becomes the beneficiary, and you or the estate can indefinitely extend the trust in 50-year periods. Buyers of a property already in a fideicomiso can begin a new 50-year cycle.

Dinero is spoken here
Don’t worry about financing either. Although most purchases of Mexican real estate by Americans have traditionally been cash deals, through home equity loans on a primary residence, or through private lenders, a growing number of developers are becoming involved in financing. In addition, third-party lenders in the United States are available, often accepting as little as 20 percent down on a purchase.

One of these lenders is the International Mortgage and Investment Group, based in Phoenix with offices in Austin and New York. Led by Timothy K. Kelley and Kevin Hardin, the IMI Group is helping to solve the former challenges of securing financing for property in Mexico. “In the past year and a half, there have been entities that have lent private-equity money to individuals buying homes,” says Hardin, the company’s CEO and a certified mortgage banker and certified mortgage consultant who has placed more than $10 billion in mortgages into the secondary market.

“Right now our biggest initiative is to educate people on either side of the transaction,” adds Kelley, a native Phoenician who learned about the Mexican industry by living and working in Mexico City for 10 years before returning to Arizona.

In addition, the men are working to establish a sound secondary market for selling Mexican-based mortgages. By providing a dependable means by which existing mortgages can be sold, more capital will be freed for new buyers, creating what Hardin calls a “free-flowing market.”

The IMI Group is also leading a nationwide effort to create an International Mortgage Lenders Association to represent individuals and entities involved in or related to the business of lending money to Americans buying property in Mexico. The men are working with stakeholders such as the Arizona Mexico Commission, the National Law Center for Inter-American Free Trade and financial-industry players such as GMAC-RFC, Stewart Title, Collateral International and M&I Bank.

Both men agree that the process for financing property in Mexico is much more accessible than it was even a few years ago. “It’s identical to the U.S. mortgage process, much like a Fannie Mae structure, in U.S. dollars, with a U.S. company, a U.S. escrow agent, and with a high level of confidence.” Similarly, title insurance policies are almost identical to those issued for American properties.

Get good counsel
Most importantly, when buying property in Mexico, have the right information and the right counseling, specifically with professionals who have experience on cross-border matters.

“More and more, the practice of law in Mexico is resembling the practice of law in the United States,” explains Benjamin Aguilera, an attorney with the Phoenix office of Greenberg Traurig. The reason for this, of course, is that so much of the capital is from the United States, though a U.S. attorney must still be familiar with the proper documentation in order to comply both systems.

Aguilera underscores: “There is no single glove that will fit every transaction.” Different states, for instance, may have different laws. “Despite the proximity, the ease of traveling, the appeal and allure of doing business in Mexico, it is a different country with very stringent laws and its own judicial system.”

AZ Business MagazineHe offers a few caveats: “Don’t eschew common sense in your south-of-the-border transaction. Don’t do in Mexico what you wouldn’t do here.” Furthermore, just being able to habla espanol isn’t enough. “It involves being knowledgeable of the interrelation of the two legal systems, the protocol for doing business, the nuances of the spoken and body languages and the financial effects on both sides of the border,” he says.

www.gtlaw.com
www.gotosonora.com

 

 

 

Arizona Business Magazine Aug/Sept 2006

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