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GSA networking breakfast moving

Kansas City's long running General Services Administration-organized Networking Business Breakfast is moving to a location in June and July. The June 3 and July 1 events will be held at the Embassy Suites Kansas City-Plaza at 220 W. 43rd St. in Kansas City.

The Embassy Suites will be the fourth home for the event, at which small business owners and other business, government, educational and other representatives have been meeting the first Tuesday of each month for more than 17 years.

Tuesday's event begins at 7:15 a.m. The cost is $13 at the door. Registration either on line at http://r6.gsa.gov/breakfast/breakfast.asp or by phone at 816-926-7203 is requested but walk-ins are welcome.

|Gene Meyer, gmeyer@kcstar.com

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Moving to a new stage

READERS have had their say and voted for their favourite local businesses in the 2008 True Local Business Awards.

The awards recognise and reward outstanding local business achievements and acknowledge the commitment of sponsors to business and the community in the area.

Your nominations are a vital component of a three-tiered judging process.

Nominated businesses will now be visited by a mystery shopper in the second phase of the awards process.

Businesses will also have a chance to showcase themselves in the business comment phase.

All businesses named as finalists will be included in a special Mt Druitt Standard feature later in the program.

And the winners will be named at a presentation dinner on Tuesday, July 29, at St Marys Band Club. more

Staying Alive

In addition, the firm will swap $128.5 million of the builder's debt that it owns for warrants to acquire preferred stock. The builder is also planning a rights offering, which is expected to raise an additional $152 million. If shareholders reject the proposed offering, MatlinPatterson has agreed to backstop any shortfall.

MatlinPatterson will receive three seats on the builder's board, and the number can increase over time, though it can't receive a majority. Analysts say the private-equity firm is betting that Standard Pacific has strong management that will be able to buy distressed land and profit from the housing recovery.

The builder's stock soared 48% Tuesday in 4 p.m. New York Stock Exchange composite trading, gaining $1.07 to $3.29. But does the deal signal a bottom in the home-building industry?

"We don't yet consider that we are at the bottom," says Standard Pacific Chief Executive Jeffrey Peterson. more

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