| County commissioner faces $353K lawsuit
County Commissioner Steve Chronister and a business partner are facing a lawsuit alleging they and their joint company owe a local doctor more than $350,000. Dr. Perry A. Eagle, a York Township orthopedic surgeon, was an investor in Equine Meadows, a 260-unit condominium development in York Township, according to his lawsuit. He alleges that Chronister, business partner Stanley Watroba and their joint business -- called Equine Meadows Associates -- have failed to pay off three Eagle loans toward the development. Eagle has requested a judgment of $353,423.80 plus interest, fees and other costs in the suit, filed Feb. 15 in the York County Court of Common Pleas. Chronister disagrees with Eagle's claims. He said all five investors in the development, including Eagle, agreed to the same payoff terms.
BEA Systems to buy vacant San Jose high-rise for new headquarters
SAN JOSE, Calif. - Business software maker BEA Systems Inc. said it agreed to buy a gleaming 17-story downtown San Jose building that has been vacant since it was built five years ago in the wake of the dot-com implosion. BEA did not disclose the purchase price, but said that moving its headquarters into the 380,000-square-foot, granite-and-glass Sobrato Building will require millions of dollars in renovations. It plans to move 800 to 1,000 workers into the building by the first half of next year. Escrow on the deal is scheduled to close in April and follows the collapse of negotiations with other interested buyers, including Santa Clara-based graphics chip maker Nvidia Corp. BEA, whose products are used to build business applications, is one of several Silicon Valley companies mired in a stock option backdating scandal.
Judge sides with Asarco in tax-refund case
HELENA, Mont. (AP) - A federal bankruptcy judge has agreed with mining and smelting company Asarco LLC that its corporate parent should not get a $40.5 million tax refund.Asarco this month asked a U.S. Bankruptcy Court in Texas to prevent Grupo Mexico from receiving the refund from the Internal Revenue Service. Asarco itself wanted the money. Judge Richard Schmidt granted Asarco's request on Monday and gave Grupo Mexico, a mining conglomerate, 15 days in which to file claims related to the ruling.Doug McAllister, Asarco executive vice president, said the money probably will be used for environmental cleanup. The federal government has pressed for that allocation since learning of the tax refund in 2003. .
Burke Receives Financial Support From Ginn Co.
WEST BURKE -- Selectmen signed an agreement with the Ginn Company Monday night which will garner the town $50,000 to cover costs associated with the Florida developer's Burke Mountain plans. "We want to work with the Ginn Company, but we don't think it should cost the taxpayers money," Selectman Sam Sanderson said. Ginn will give the town $50,000 to cover legal, planning, public hearings, consulting costs and administrative expenses related to the proposed development. The money will be placed in an escrow account and the town will draw down from this account to cover expenses. The town will keep records and provide Ginn with monthly statements. The agreement is good for three years. Any money not spent at that time will be returned to the Ginn Company. If the money runs out before then, selectmen and Ginn representatives will negotiate a new agreement.
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