Revitalization Plans Become Concrete at the Jekyll Island Convention Center Groundbreaking

/PRNewswire/ -- Governor Sonny Perdue, the Jekyll Island Authority (JIA) Board of Directors, staff, legislative and business representatives and members of the community gathered just north of the former convention center December 7 to commemorate the beginning of construction on the new Jekyll Island convention center and beach village.

The new Jekyll Island convention center replaces the former center and will be the only oceanfront convention facility in the southeast. The new center is expected to achieve Leadership in Energy & Environmental Design (LEED) certification at a Silver level. The 128,000 sq. ft. facility will feature many "green" aspects including structural facets that serve to capture and reuse rainwater, alternative/renewable energy generation and use and the latest in energy-saving technology.

Construction on the ocean front convention center is expected to take approximately 18 months and is scheduled to be complete along with the two new hotels, loft condominiums and 40,000 sq. ft. of retail space that make up the commercial components of the new Jekyll Island Beach Village in 2012. Great Dunes Park and a public village green are integrated to create a new, vibrant beachside destination on Jekyll Island.

"The revitalization of Jekyll Island is a story of renewal – of restoring the island to its rightful place as a premier public beach resort available to all Georgians and visitors," stated Governor Perdue. "This project is already benefiting a reinvigorated coastal Georgia economy, and I look forward to seeing the finished product thanks to the hard work and dedication the Jekyll Island Authority Board of Directors and the Jekyll Island Authority staff have invested in this effort."

The facility will be integrated into its natural beachfront location in a manner that minimizes impact on the environment while creating a wonderful and unique guest experience. The interior design will celebrate the natural transect of the island from the dunescapes to the marsh vistas.

"We can not be more excited to embark on this monumental project for Jekyll Island," stated Chairman Bob Krueger. "My hope is for the new convention center to create a wealth of special memories just as the former has done for so many visitors and residents alike."

The day concluded with JIA Executive Director Jones Hooks inviting ceremony guests to make a permanent mark on slabs of wet cement to signify the permanence of revitalization. The cement tiles will be used in the new Beach Village area as a lasting tribute to those who have worked together to make the revitalization of Jekyll Island a reality.

"In this economy, it is truly remarkable that we are at this critical point of getting construction underway," stated Jones Hooks. "Timing has always been a critical element, and what we have been able to accomplish over the last twelve months is almost a miracle and would not be possible if not for the steadfast support of the Governor, the state legislature and our JIA Board."

Brasfield & Gorrie, LLC, the Georgia based general contractor for the convention center and related infrastructure will begin construction in January of 2011. Currently crews are sorting out material from the demolition debris to be recycled. Concrete is being ground to be used as the base for the new convention center and beach village streets. The beginning of construction on the convention center and accompanying retail area signifies the cornerstone of revitalization efforts for the Jekyll Island Authority.

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Sluggish Housing Construction Reduces 2011 Sawtimber Forecast by 6% in US South; Pulpwood Markets Become Increasingly Localized and Diversified

/PRNewswire/ -- Anemic housing construction - and the resulting impacts on lumber demand - delayed the expected recovery of pine sawtimber prices this year. Despite the apparent delay in recovery, several states, and end markets for pulpwood, show signs of resiliency. Forisk Consulting's mid-year update of its 10-year, state-by-state forecast for pine sawtimber and pulpwood stumpage in the US South reflect the variability across local timber markets as sawmills retool and bioenergy projects come on-line.

South-wide, Forisk's update indicates pine sawtimber prices will be 6.4% lower in 2011 than expected six months ago. Results vary across states, with Alabama, Arkansas, Georgia and South Carolina best positioned to rebound quickly as lumber demand strengthens. According to Forest Economist Dr. Tim Sydor, "Expectations for key macroeconomic factors - such as GDP and housing starts - have, frankly, proven to be way off-base. GDP grew faster than expected, but housing starts are expected to remain 30% below 2009 projections. As a result we've adjusted our forecast of US softwood lumber consumption downward by 6.3 billion board feet for 2010. Lower lumber demand means lower stumpage prices, and pine sawtimber prices in the South have been revised downward by nearly $1 per ton for the year."

Forisk's President, Dr. Brooks Mendell, agrees that 2010 is a "bridge" year and emphasizes to investors the benefits of patiently following local markets. "Robust local markets, with capitalized mills and resilient loggers and wood suppliers, pay dividends to their investors through faster recoveries."

Pulpwood demand, relative to sawtimber, is distinct for the complexity of its end-use markets. "We follow several factors that have push-and-pull effects on pulpwood demand and stumpage prices," says Dr. Sydor. "For instance, while a housing recovery lifts demand for pulpwood from OSB producers, it decreases demand for roundwood through increased residual chip flows from lumber mills." Forisk projects that 9.6% of pulpwood demand across the South will come from new bioenergy facilities. "Bioenergy and OSB end-use markets drive any growth in pulpwood demand over the next 10 years," says Dr. Sydor.

Pine Pulpwood and Sawtimber forecasting products from Forisk Consulting help industry leaders follow and understand the impacts on stumpage prices from the economic recovery and changing demand for lumber, pulp and bioenergy products. For more information, visit www.foriskstore.com and click "Stumpage Price Forecasts."

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Firth Rixson Limited Announces the Construction of a Closed Die Manufacturing Facility in Georgia

/PRNewswire/ -- Firth Rixson Limited, a major provider of highly engineered forged and specialty metal products, announced today the most significant expansion in the Company's history, with the construction of a 200,000 square foot closed die forging operation in Liberty County, GA. The new site, Firth Rixson Forgings LLC, will become the Company's fourth closed die forging facility.

In announcing the construction of the facility, David C. Mortimer, CEO of Firth Rixson, said, "Firth Rixson Forgings LLC represents the continuation of Firth Rixson's strategic initiatives and growth plans. Our management and technical development approach consistently results in products that provide satisfaction to our customers, and operational results that satisfy our owners. We will leverage the synergy with our current closed die operations in the United Kingdom to offer our products and service to a broadened market. We are extremely pleased to expand our business in the United States."

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Vega Accepting Bids for Construction of Georgia Manufacturing Plant

/PRNewswire/ -- VEGA PROMOTIONAL SYSTEMS, INC. (Pink OTC: VGPR) announced today it is accepting bids for the construction of its Georgia fuel pellet manufacturing plant.

The proposed 40,000 square foot manufacturing facility will be located in Tifton, Georgia and will manufacture energy efficient pellet fuel from organic waste bi-products located within the State.

The Company will capitalize on the abundance of biomass in Georgia's Bioenergy Corridor and when completed, the new facility will have the capacity to produce several hundred thousand metric tons of biomass fuel pellets annually.

The State of Georgia ranks third in the nation as a potential source of renewable energy. The amount of privately owned forests in Georgia, more than any other state in the country, is the reason for the State's ranking.

The Company recently announced it is seeking financial assistance from the State of Georgia to build its manufacturing plant. When complete, the facility will create nearly 200 direct or indirect green jobs and address state energy priorities to adopt emerging renewable energy and energy efficiency technologies.

Parties interested in bidding on the construction of the plant should visit the Company's website at www.vegabiofuels.com for more information and to receive a detailed bid package.

The Company will announce additional details about the Georgia manufacturing plant as the project moves forward.

Certain statements in this release constitute forward-looking statements or statements which may be deemed or construed to be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words "forecast," "project," "intend," "expect" "should," "would," and similar expressions and all statements, which are not historical facts, are intended to identify forward-looking statements. These forward-looking statements involve and are subject to known and unknown risks, uncertainties and other factors which could cause the Company's actual results, performance (finance or operating) or achievements to differ from future results, performance (financing and operating) or achievements expressed or implied by such forward-looking statements.

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72 Stites & Harbison Attorneys Honored in “Best Lawyers in America"

Two honored from Atlanta office

Stites & Harbison announced today that 72 of its attorneys were recently selected by their peers for their work in 33 areas of practice in The Best Lawyers in America® 2010. Two of the attorneys honored are based in the Atlanta office. Those two attorneys, with their practice areas, include:

R. Daniel Douglass
Construction Law

J. D. Humphries, III
Construction Law

“The recognition we have received from Best Lawyers validates our firm-wide commitment to providing the best level of service possible to our clients,” said Kennedy Helm III, managing partner of Stites & Harbison, PLLC.

The Best Lawyers in America® is a nationally recognized referral guide to the legal profession that has been published biennially since 1983. Attorneys selected for the publication are reviewed by professional peers through an extensive survey.

About Stites & Harbison
Stites & Harbison, PLLC, is a regional business and litigation firm with attorneys in Atlanta; Alexandria, Va.; Jeffersonville, Ind.; Louisville, Frankfort and Lexington, Ky.; and Nashville and Franklin, Tenn. Tracing its origins to 1832, Stites & Harbison is one of the oldest law practices in the nation and among the largest law firms in the Southeast. Our attorneys are consistently recognized by their peers in the following leading legal directories: Martindale-Hubbell Law Directory®, The Best Lawyers in America®, Chambers USA and Super Lawyers magazine. Recent firm honors include being named: one of the 50 Best Overall Law Firms in America (Global Research), one of the Leading Law Firms in America (The American Lawyer), a Go-To Law Firm® (Corporate Counsel), one of the Top 100 Law Firms for Diversity (MultiCultural Law Magazine) and a Top 10 Growth Firm (National Law Journal).
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SBA Offers $10 Million Surety Bond Guarantee

Aids Recovery in Construction and Service Sectors

Building on Recovery Act provisions implemented earlier this year, the U.S. Small Business Administration announced today it can now provide surety bond guarantees on federal contracts valued at up to $10 million, if the contracting officer certifies that the guarantee is in the best interests of the government. An Interim Final Rule is available for public inspection at The Federal Register.

Currently, under a related provision of the Recovery Act that was implemented in March, SBA can provide bond guarantees up to $5 million through September 2010 on all public and private contracts and subcontracts. SBA partners with the surety industry to help small businesses that would otherwise be unable to obtain bonding in the traditional commercial marketplace. Under the partnership, SBA provides a guarantee to the participating surety company of between 70 and 90 percent of the bond amount.

“Raising the surety bond limit is a critical step in making sure small businesses in the construction and service sector have access to federal contracting opportunities that will help drive economic recovery,” SBA Administrator Karen Mills said. “These changes support small and emerging businesses nationwide, particularly construction contractors who have seen their markets hurt by a poor economy and lagging construction.”

Additional program enhancements published in the rule include:

· a new small business size standard for this program;
· authorization for SBA to exercise discretion in deciding bond liability issues; and,
· a definition of “Order” issued under an Indefinite Delivery Contract.

The new size standard (which will be in effect until Sept. 30, 2010) temporarily replaces the current size standard for the surety bond guarantee program. It states that a business is small if the business, combined with its affiliates, does not exceed the size standard designated for the primary industry of the business combined with its affiliates. The North American Industry Classification System (NAICS) Codes contained in 13 CFR Part 121 establishes size standards for all industries http://www.sba.gov/contractingopportunities/owners/basics/GC_SMALL_BUSINESS.html.

Through its Bond Guarantee program, SBA will also help by guaranteeing bid, payment and performance bonds to protect the project owner against financial loss if a contractor defaults or fails to perform.

Finally, the rule adds a definition for an “Order” issued under an Indefinite Delivery Contract to clarify that SBA bond guarantees apply to individual orders, as well as contracts.

SBA assistance in locating a participating surety company or agent, and completing application forms, is available online. For more information on SBA’s Surety Bond Guarantee Program, including Surety Office contacts, go online to http://www.sba.gov/osg/ , or call 1-800-U ASK SBA.
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