Wednesday, June 8, 2011

NPR: For Many, It's Still A Good Time To Buy A Home




You can get more information and listen to the story here

Home prices around the country have fallen into a double dip. After declining around 30 percent from their peak, they started to rise a bit last summer with the help of a federal tax credit.

But with that stimulus gone, prices are now sliding again to new lows. And while some pundits say a lease makes more sense than a mortgage, other economists insist it's a great time to buy.

'American Dream' Under Fire

Since the housing bubble burst, there's been some dramatic questioning of homeownership. A Time magazine cover declared that owning a home may no longer make economic sense. And politicians are under fire for over-promoting homeownership.

It's enough to make any prospective homeowner hide under their bed in their rented apartment. But many economists, like Mark Zandi with Moody's Analytics, say these concerns are overblown.

"Everyone's re-evaluating more carefully whether they should own a home or not," Zandi says. "But for the vast majority of Americans homeownership is still the right thing."

****************************************************************************

Time to Rent or Buy? Depends Where You Live

This chart shows the percentage difference between the average monthly rent and mortgage payment for a median-priced, single-family home in communities across America. For example, in San Jose, Calif., the monthly mortgage payment averages $2,600, while rent is about $1,000 less. That's about 60 percent cheaper. But in Cleveland, it's the opposite. The average rent is about $750 per month, while the cost of buying is $420, or about 44 percent less.

Time to Rent or Buy? Depends Where You Live

Notes

This chart compares the cost of a 30-year fixed mortgage with a 10 percent down payment and five percent interest rate, to the cost of renting. It does not include taxes, insurance, etc. Data is from the first quarter of 2011.

Saturday, June 4, 2011

(614) Magazine: Why is Columbus so Gay?




The story is here

How the capital city of a conservative state became the GLBT mecca of the Midwest

By Travis Hoewischer

Published June 1, 2011

On a sunny weekend afternoon, dozens of men and women clad in a variety of fashions stream through Union Cafe, beginning their day at one of the most popular brunches in the city.

The intricately detailed walls and glowing crimson lamps overhead provide a warm backdrop for a relaxing day in the city.

This same tranquil space was also the setting of a raucous drag show the night before.

Such is the duality of life in Columbus, Ohio. Not San Francisco. Not New York. Columbus.

This melding of lifestyles is now the norm in one of the strongest and most vibrant gay communities in one of the most conservative states in the nation. Gay Travel named Columbus its Most Underrated Gay City and Gay Cities named Columbus as the Up-and-Coming Gay City of 2011.

The catalysts for our progressive identity as a city are as diverse as the citizens it serves; our economy, our urban landscape, our reputation as a business incubator, and even our overall quality of life have all been bolstered by a local culture whose attitude goes beyond basic tolerance. The chorus of support for our GLBT residents is increasingly encouraged – not simply tolerated – by a community working together to make Columbus a more progressive city as a whole.

The rise of the city’s gay population has been steady and strong for the past three decades, going from hidden and quiet to mobile and militant to open and accepted. This year, as we celebrate more than three decades of progress with the 30th anniversary of the Columbus Pride Festival, we examine just exactly how Columbus became one of the gayest cities in the Midwest.

The Initial March

Columbus didn’t become a bastion of acceptance overnight. In 1971, a decade before the first official Pride Parade was held in Columbus, gay rights activists had filed 18 applications to march on West Broad Street, all of which were subsequently denied. Two local judges at the time summarily dismissed the requests by deeming them as “aiding and abetting the solicitation of an act of perversion.” Throughout the 1970s, small groups of less than 300 marched down High Street to the Statehouse, but it wasn’t until Craig Covey, founder of the Stonewall Union, helped lead more than 3,000 marchers in commemoration of the infamous New York City Stonewall riots, that the public really took notice.

Karla Rothan, the current executive director of Stonewall Columbus, a community center and outreach organization that bears the Union’s name, beamed as she boasted about the estimated 210,000 people that will spill into the streets of downtown and Goodale Park this month for the 30th Pride Festival.

During the first Pride Parade in 1981, only hundreds participated, and they hid their identities by wearing bags over their heads.

“[Businesses] are paying to be in the parade now,” Rothan said. “They want to be seen, they want their logo out, they’re paying to sponsor it . . . Columbus just ‘gets’ it. That is to the credit of all those people that didn’t give up and didn’t stop and just kept going even when we were being harassed.”

A New Landscape

Columbus is set up perfectly to be a gay-friendly city, says Chad Frye, director of sales and marketing with Outlook Media, the city’s robust GLBT publication.

“There are all of these great neighborhoods that went into decline, where there were opportunities for gentrification, and they’re downtown-adjacent,” he said. “You don’t go into many cities today and find something like Victorian Village two minutes from the heart of the city.”

Or German Village. Immigrants may have founded the historical area, but it was the city’s native and transplanted gay population who reclaimed and revitalized the neighborhood in the ’80s and ’90s. The combination of less children and larger household incomes (the 2007 LGBT Census of Central Ohio shows GLBT incomes to be more than 10 percent above the city average in five of the six highest brackets), made them ideal urban pioneers.

Rothan recalls her partner applying for a home loan and being met with skepticism and surprise from the bankers.

“They said, ‘Where’s your husband? Where’s your man? We’re not used to having a woman get a loan for a property without a man.’ She replied, ‘Well, you better get ready because they’re all coming. It’s not just me.’ And they have. They’re all urban pioneers and they’ve been instrumental.”

The boom in German Village set the pace for Central Ohio. Terry Penrod, a gay realtor and national board member of the Human Rights Campaign, remembers the transformation of Columbus’ urban areas.

“In these communities where there was flight to the suburbs and urban decay, GLBT people who didn’t have children were more likely or able to go into older neighborhoods and redo these Victorian and German Village homes,” Penrod explained. “Once they were rebuilt, it fostered more people coming into the central city.”

Outlook co-publisher Michael Daniels gives further credit for the German Village revitalization efforts to the late Fred Holdridge and Howard Burns. Long known as the unofficial ‘mayors’ of German Village, the gay couple’s reputation as neighbors and community leaders gave them a high visibility beyond the gay community.

“I think what made a difference was that they got in, they dug into the neighborhood and they got their hands dirty and they started buying property and fixing it up – being gay was secondary,” Daniels said. “They became great ambassadors simply because their neighbors were like, ‘I’ve never met a gay couple before.’”

As more and more gay individuals purchased homes, the overall redevelopment of Italian Village, Harrison West, Clintonville and Grandview was fueled. This phenomenon not only helped boost the local housing market and the urban landscape, but also served as a physical catalyst for a more complete integration of the gay population over the entire city.

Now, the Short North, which shares borders with several of the city’s central villages, is a thriving arts area with a strong presence of GLBT business owners.

“While Columbus currently has and has had a series of ‘gay-borhoods,’ it’s never really had a [gay] ghetto,” Daniels explained. “I mean, there’s no Boys Town, there’s no Castro like in San Francisco. We have gay people who live all over everywhere and they’re out.”

Big Industry Buys In

The fact that more and more gay men and women have moved to Columbus in recent decades is owed to several factors, but the most significant factor has been the presence of the largest university in the country and its surrounding slew of liberal arts colleges.

Between its enrollment and its employment, The Ohio State University is responsible for importing thousands of men and women from around the globe, which has contributed greatly to the diverse culture of Columbus. Plus, statistics show that GLBT citizens are more likely to hold degrees than the average citizen. According to the 2007 LGBT Census, 33.1 percent of GLBT citizens have graduated college, versus 20.7 percent of the overall population of the Columbus Metropolitan Statistical Area (MSA), and 29.4 percent hold a postgraduate degree, compared to just 11.3 percent of the MSA.

In essence, a more educated city typically means a more gay-friendly one – especially a college town built on the scale of a university the size of OSU.

Perhaps no entities have been more influential on a large scale in both promoting and protecting the gay community than Columbus fashion mainstays like Limited Brands and Abercrombie & Fitch. These companies’ home offices in Central Ohio employ thousands, including many imports who have found in Columbus a social scene and arts culture comparable to those of other major cities – but in a much more affordable area.

These companies also instituted domestic partner benefits for their employees long before many of their coastal competitors (Limited Brands began offering them in 1999). Offering these extended benefits allowed the companies to lure talent to Ohio despite the fact that the Midwest isn’t exactly the center of the fashion world.

“I think the industry that’s here recognizes that we don’t have mountains and we don’t have beaches,” Daniels said. “But they’re recruiting people from the areas that do.”

According to the Corporate Equality Index, created by the Columbus chapter of the Human Rights Campaign (HRC) to rate companies on equality and benefits for GLBT employees, Nationwide Insurance, Limited, Chase Bank, Abercrombie & Fitch and Cardinal Health all score at or near 100 percent equality. Nationwide also expanded their benefits package to include domestic partners in 1999 and OSU has also offered domestic partner benefits since 2004.

“You know, you could live in New York and it’s no big thing to be gay – but the company you’re working for might not have domestic partnership benefits,” Daniels said. “So I think that we’re lucky in that we’ve had a great many people in the private sector who’ve really signed on early to that whole diversity and inclusion piece and I think that shows in Columbus.”

City Pride

The fact that Columbus is more progressive than many of its neighboring metros, says Mayor Michael Coleman, goes “beyond just tolerance.”

“It’s the same question on immigration. Why are we such a huge city for immigration? Why do we have one of the largest Somali populations in the country? We have a culture all our own in this part of the country, and it’s a combination of the East Coast and the West Coast, right here in the central United States.”

Coleman, who, as an African American man, puts a strong emphasis on diversity, was the first Columbus mayor to attend Pride a few years ago.

“It was a big moment for me to stand up and say, ‘I welcome you.’ That’s just who I am. I come from a very diverse background myself. I wanted folks that were there that day to know that this city is a welcoming city, and if I am representing this city, I want them to know that we’re glad they’re here.”

It’s more than just personal – it’s professional. The city government’s backing of the GLBT community came full circle in November when they extended workers’ health benefits to domestic partners, a year after the Columbus Public School Board had done the same.

“I view it as an opportunity to market to the rest of the country,” Mayor Coleman said. “This is an asset of our city. The GLBT community is a community that is very creative, a community that brings a lot of opportunity with it. Jobs, economic viability . . . it all adds value to the community in a big way. When I go out recruiting businesses, I say this is one of the reasons why they should relocate their business to Columbus.”

Or why organizations should relocate their event. Last year, Columbus won the bid for the Gay Softball World Series, the largest GLBT sporting event in the world. Nearly 13,000 people from 20 states flooded into the city, bringing in more than $5 million over a weekend, according to Experience Columbus.

The organizers of the event were blown away by the support in Columbus, said Experience Columbus Media Relations Manager Scott Peacock.

“They were really surprised,” he said. “They couldn’t believe the level of support the community had given them.”

Experience Columbus has also hosted a dozen gay travel writers during trips to the city over the last year, including About.com’s Andrew Collins, who remarked that if Columbus was “on a bay and surrounded by hills, Tony Bennett would write a song about it.”

Collins used to visit Columbus in the mid-’90s, when he lived in New York City, and was immediately struck by how open gay life was here in comparison to what he had experienced in Cleveland, Indianapolis and Pittsburgh.

“Not only could you find a number of businesses owned or frequented by members of the community in several parts of town, but these businesses tended to have storefront windows and bright signs – they were conspicuous, in the way GLBT-popular businesses were conspicuous in other major cities. Unfortunately, at this time, gay bars and shops were often relegated to out-of-the-way neighborhoods or cloaked in windowless facades in many other large cities in the greater region.”

The local GLBT community isn’t just part of Columbus culture, it’s now a part of our city’s economic viability; the local gay presence is more ‘chamber of commerce’ than counter-culture.

“You better believe it’s good for business,” Mayor Coleman said. “Diversity is a real key to the city’s strength – economic strength, cultural strength, educational strength – it adds a lot of value to our community.”

“If you were to remove the gay population from the city of Columbus, it wouldn’t be as strong as it is – as good as it is.”

Using data from the U.S. Census, GayCensus and The Media Audit, Outlook Media calculates that GLBT consumer spending accounts for roughly $7.5 billion spent annually in our local economy.

“Columbus gets the fact that being an open and affirming city and attracting and retaining young talent – that happens to be GLBT talent – is important and it’s an economic value,” Stonewall’s Rothan said. “Who wants to cut out a percentage of their business right off the top?”

Allies Unite

As gay men and women have become woven into the city’s business, social and cultural fabric, the strength of the allied community – the gay and straight supporters of the GLBT cause – has increased, particularly in the power of their dollars.

The spending power of the gay community, coupled with supporters who won’t frequent anti-gay establishments or businesses where they feel their gay friends aren’t welcome, steers the tide significantly.

“At some point, equality just becomes good business,” Daniels said.

Doug Fordyce and Lisa McLymont were part of a large number of GLBT Columbusites who spurred social action on behalf of the growing movement in the early to mid-’90s. McLymont once graced the cover of Alive! in a passionate kiss with her girlfriend. Fordyce participated in several local boycotts of products of national companies whom the GLBT community had felt displayed or supported intolerance. Both feel that today, the level of activism that was the norm 15 years ago is no longer necessary.

“I mean, I stopped eating Wendy’s for about 10 years – we were trying to get people not to buy Hondas . . . now, [major corporations] are sponsoring Pride. It’s so healthy,” Fordyce said. “I talk to a lot of young people, and I tell them, ‘Back then, there were like five bars. You could see everyone in the community in one place.’ Now, we don’t need gay-specific places and bars. We’re everywhere. We’re a non-issue now.”

These days, ‘gay issues’ is an almost outdated term, says McLymont.

“Now, we’re talking more about positive aspects of diversity and what it means for Columbus – all its different walks of people.”

Who We Are

Thirty years after the days when local politicians still looked on gay culture as a public deviance, gay citizens are now so entrenched in our city that the political landscape is insulated from being anything but gay-friendly. As Daniels puts it, “The two things that matter in the world are money and votes.”

“The major movers and shakers in industry here have been on the forefront of these kinds of progressive issues; they’re the ones who have put in initiatives to make sure they are recognizing and promoting women, people of color and GLBT folks,” Daniels added. “These are the people who have the ears of the local politicos.”

The GLBT community has also directly gained a louder political voice in recent years. Mary Jo Hudson became the first openly gay citizen to occupy a political office in Columbus when she was appointed to Columbus City Council in 2004. Three years later, she made state history when she was named the Director of the Ohio Department of Insurance by then-governor Ted Strickland, making her the first openly gay person to serve in an Ohio cabinet position.

Hudson seconds the role that OSU and local business leaders have played in progress, but also says that Columbus’ diverse citizenry has shaped a more tempered religious sector.

“Columbus is home to many open and affirming church congregations and that’s greatly contributed to the accepting community that’s developed here over the past decade,” she said. “You don’t just find that anywhere.”

The city’s GLBT citizens are “totally and completely integrated into every part of our community,” said Mayor Coleman.

“It’s not segregated, it’s not something that is underground. It’s not over in this neighborhood,” he said. “It’s just who we are.”

Strength in Numbers

Lori Gum, a lesbian and local book publisher, returned to Columbus for the first time in 30 years after stints in New York and Los Angeles and was amazed by the cultural transformation of the city.

“I think Columbus is by far the most gay-friendly city I’ve ever been in,” she said. “I came back and found not only a thriving creative city, but a thriving, positive and diverse gay and allied community.”

And that community is expanding. Between the increased numbers that come through Stonewall’s doors and the massive growth of Pride festivities, it’s clear the GLBT population is increasing. According to a study by the William Institute at UCLA Law School, Columbus’ approximately 50,250 gay citizens outnumber the percentage of gay citizens in Chicago.

Gum noted that being gay in Columbus is not as polarizing as it is in other major cities.

“In all those other cities, it’s over-politicized on both sides,” she said.

A large part of what keeps the gay community thriving is the fact that for many, being gay isn’t an issue the way it used to be in Columbus or in other Midwestern cities.

“I think it’s interesting that the longer I’m in Columbus, the more that being gay becomes the least interesting thing about me,” Daniels said. “And I like that.”

Why is Columbus so Gay?

Members of the GLBT community respond

“It’s so open. I moved here from Pittsburgh; walking down the streets there, you’d get so many dirty looks.”

– Ethan Werstler

“Central location. Everyone that is corn-pone and country moves into the city.”

– Matthew Magani

“I would say Ohio State. It’s so diverse, and we all come here to be ourselves.”

– Adam Burris

“Because it’s so accessible and anywhere you go in the city you can be who you are. Plus, we have the third most gay people per capita in the country.”

– Joel Diaz

“Columbus is so gay for two reasons: first, it has the best dance graduate program in the nation, and second, the flagship Abercrombie and Fitch store is here.”

– Erik Abbott-Main




The Columbus Pride Parade has grown from hundreds to more than 200,000 in 30 years. (Credit: Stonewall Columbus)

30 Years of Pride

June 2nd

5 to 7 p.m. – Pride Art Show at Spinelli’s Deli

8 p.m. – Pride Movie Night at Gateway Film Center

June 3rd

8 to 10 p.m. – Dance for Pride at Wallstreet

June 4th

11 a.m. to 7 p.m. – TransOhio Unity Picnic at Goodale Park

8 to 10 p.m. – Colors of Pride Art Show at 1st Community Bank

June 11th

9:30 a.m. ­– Jaeger Run for Pride 5k Walk/Run at Goodale Park

11 a.m. – Pride Poker Run at Club 20

June 13th

5 to 8 p.m. – Pride 30th Anniversary Party at Hubbard Grille

June 17th

3 to 11 p.m. – Goodale Park Celebration

June 18th

10 a.m. – Pride Parade Lineup

Noon – Downtown Step-off

10 a.m. to 8 p.m. – Goodale Park Celebration

June 19th

11 a.m. to 1 p.m. – Pride Brunch at the Columbus Athenaeum Bat n’ Rouge Softball at Dodge Park

Visit www.columbuspride.org for complete details.


Thursday, June 2, 2011

Business First: Tressel tossed from Hyde Park menu as Steak Fickell era begins


Jim Tressel wasn’t merely a highly respected college football coach. He was also a damn tasty steak.

Soon he’ll be neither.

While there are much bigger ripples in the Tressel controversy pond, at the further reaches of that mess are the businesses that have slapped the man’s name on dishes and hung his visage on their walls.

At Beachwood-based Hyde Park Restaurant Systems Inc., for instance, it’s bye-bye to the Steak Tressel. The New York Strip with roasted cloves of garlic and mushrooms won’t disappear from the menu, but the name will at the chain’s four Columbus and four Cleveland steakhouses where it’s used.

The decision wasn’t a judgment on the man, but rather house rules. Co-owner Joe Saccone said that for the last 20 years in Columbus, the garlic steak has been named for the sitting Ohio State University football coach. It was the Steak Cooper before and likely will be named Steak Fickell before the start of football season in honor of new Buckeyes coach Luke Fickell.

Ironically, the same steak had been named for the Browns coach in Cleveland until within the last year, when the NFL team’s coaching carousel got too much and they put Tressel’s name on it for the perceived stability – and the legions of Buckeye fans in the city.

Hyde Park uses the same menu at most of its restaurants, but renames the steaks for the local markets, so what has been the Tressel here for the past decade is known as the Steak Lemieux in Pittsburgh and the Steak (Jimmie) Johnson in NASCAR hotbed Daytona Beach, Fla.

While there aren’t many restaurants that paid tribute to Tressel on their menus, many have pictures or paintings of the man on their walls. One of the more notable is the Buckeye Hall of Fame Grill, which opened at Grandview Yard last year. Much of its Ohio State sports decor comes through an arrangement with the university and includes some Tressel mementos, such as one of his famed sweater vests.

Charles Lagarce, president of Columbus Hospitality LLC, which manages the restaurant, said no decisions on the Tressel-abilia have been made.

“We haven’t even thought about it, nor have we had any time to sit down with the university and talk about it,” he said.

Until those discussions happen, the mementos will stay, but Lagarce said he knows where his vote will go.

“The Hall of Fame was designed to pay tribute to all the great things at OSU and he’s part of that,” he said. “His vest is there and I hope it remains.”



Read more: Tressel tossed from Hyde Park menu as Steak Fickell era begins | Business First

Tuesday, May 31, 2011

Columbus Dispatch: Home-price index falls to lowest point since 2002




Home-price index falls to lowest point since 2002


WASHINGTON (AP) -- An index of home prices in big metro areas has reached its lowest level since 2002, driven down by foreclosures, a glut of unsold homes and the reluctance or inability of many to buy.

Prices fell from February to March in 18 of the metro areas tracked by the Standard & Poor's/Case-Shiller 20-city index. And prices in a dozen markets have reached their lowest points since the housing bubble burst in late 2006.

The nationwide index fell for the eighth straight month. Prices have now fallen further since the bubble burst than they did during the Great Depression. It took 19 years for the housing market to regain its losses after the Depression ended.

Prices rose last summer, fueled by a temporary federal home-buying tax credit. But they've plunged since then. This month's report marked a "double dip in home prices across much of the nation," said David Blitzer, chairman of the Index Committee at Standard & Poor's.

After adjusting for inflation, the home-price index has sunk to a level not seen since 1999.

Many economists think prices nationally will drop at least 5 percent more by year's end. They aren't likely to stop falling until the glut of foreclosures for sale is reduced, employers start hiring in greater force, banks ease lending rules and would-be buyers regain confidence that a home purchase is a wise investment.

"Folks are having so much difficulty in getting financing for a home," said Mark Vitner, senior economist at Wells Fargo. "It may be early next year before prices hit bottom."

Another obstacle to a rebound in prices: A delay in processing foreclosures. Homes in foreclosure sell for, on average, 20 percent discounts. When they do, they pull prices down further. But many foreclosure sales have been delayed while federal regulators, state attorneys general and banks review how those foreclosures were carried out over the past two years.

Once those homes are eventually foreclosed upon, they will trigger a further price drop in many markets. Those declines are "etched in stone," said Patrick Newport, U.S. economist at IHS Global Insight.

The 12 cities now at their lowest levels in nearly four years are: Atlanta, Charlotte, Chicago, Cleveland, Detroit, Las Vegas, Miami, Minneapolis, New York, Phoenix, Portland, Ore., and Tampa.

Minneapolis fared the worst in March; prices there fell 3.7 percent. They dropped 2.4 percent in Charlotte and Chicago and 2 percent in Detroit. But prices rose 0.1 percent in Seattle and 1.1 percent in Washington, D.C. The nation's capital is the only metro area in the index where prices have risen in the past year.

The Case-Shiller index measures sales of select homes in the 20 largest markets compared with January 2000. For each metro area it reviews, the index provides a three-month moving average price. By measuring sales prices of the same homes over time, the index seeks to pinpoint market values and conditions.

The housing sector is struggling even as the overall economy is in the midst of a steady but slow recovery.

That won't change soon. Roughly 92 percent of homeowners say it's a bad time to sell their home, according to the latest Thomson Reuters/University of Michigan index of consumer sentiment.

But housing also affects the broader economy. Homes account for about a third of household wealth. So when prices fall, they have "important spillover effects on other sectors of the economy," said Yelena Shulyatyeva, an analyst at BNP Paribas. Those sectors include consumer spending and state and local property tax collections.

Some of the sharpest price declines have occurred in cities hit hardest by unemployment and foreclosures, such as Phoenix, Tampa and Las Vegas. They are flooded with homes sitting vacant, awaiting buyers. Many banks have agreed to allow homes at risk of foreclosure to be sold for less than what is owed on their mortgages. That trend has pulled down prices.

Coastal areas, such as San Francisco, San Diego, Los Angeles, Washington and Boston, have fared comparatively better in the past two years. They have been aided by healthy local economies and low unemployment, desirable city centers and limited space for new housing.

But the damage is now spreading to areas that had long escaped the worst of the crisis. They include Dallas, Denver, Minneapolis and Cleveland. Economists regard them as housing bellwethers - metro areas that are reliable indicators of where national prices are headed.

Denver and Dallas are on pace to hit post-housing bust lows in the next few months.

In the seven years before its peak in July 2006, the home-price index surged 155 percent. Since then, it's fallen 33 percent.

Monday, May 30, 2011

Columbus Dispatch: Coach Jim Tressel out at Ohio State

The story and more information is here


Monday, May 30, 2011 07:55 AM

Updated: Monday, May 30, 2011 08:58 AM

The Columbus Dispatch


Ohio State football coach Jim Tressel has resigned, university sources told The Dispatch today.

Less than three months after President E. Gordon Gee and Athletic Director Gene Smith said they fully supported their embattled coach, mounting pressure, a pending NCAA disciplinary hearing and new revelations about the culture of the program forced the university to act on their once-revered coach, sources said.

Neither Gee, Smith nor Tressel could be reached immediately for comment.

Sources said assistant coach Luke Fickell, who had been named to coach the first five games of the season while Tressel served his suspension for withholding information from the university compliance office and the NCAA, will serve as interim coach of the Buckeyes all of next season.

The Dispatch has obtained a memo Gee sent to OSU trustees this morning:

"I write to let you know that later this morning we will be announcing the resignation of Jim Tressel as head coach of the University's football program. As you all know, I appointed a special committee to analyze and provide advice to me regarding issues attendant to our football program. In consultation with the senior leadership of the University and the senior leadership of the Board, I have been actively reviewing the matter and have accepted Coach Tressel's resignation.

"My public statement will include our common understanding that throughout all we do, we are One University with one set of standards and one overarching mission. The University's enduring public purposes and its tradition of excellence continue to guide our actions," Gee wrote.

Ohio State's football program came under fire in December when six players were suspended by the NCAA for selling or trading uniforms and other memorabilia to a Columbus tattoo-parlor owner. The NCAA also drew criticism for allowing the players to participate in the Sugar Bowl instead of serving their suspensions immediately.

Tattoo-parlor owner Edward Rife was under investigation for drug trafficking when his unrelated trading for OSU memorabilia came to light. It was revealed in federal court on Friday that Edward Rife, owner of Fine Line Ink Tattoos on Sullivant Avenue on the Hilltop, agreed in December to plead guilty to drug trafficking and money laundering. As part of the agreement, Rife must forfeit all of his OSU memorabilia if he does not come up with $50,000, the amount federal investigators say he made in profit selling marijuana.

Tressel expressed surprise in December at the revelations of his players being involved with the tattoo-parlor operator, but the university learned in January that Tressel was told of the relationship last April in an email from a former OSU player. The coach did not share that information with the university as his contract requires, nor did he reveal it when he signed an NCAA compliance form in September verifying that he was unaware of any possible violations.

He was suspended two games and fined $250,000 for his actions. He requested that his suspension be increased to five games to match the penalty his players received. The university obliged.

Tressel's contract was renewed last spring through 2014. He earns about $3.7 million annually in salary and other incentives. He leaves Ohio State with an impressive coaching resume, having led the school to its fifth national title as well as directing impressive runs of Big Ten championships and victories over archrival Michigan.

The coach who came to Ohio State from Division I-AA Youngtown State University leaves OSU as one of the most recognizable figures in college football and all sports with a record of 106-22 at OSU. His winning percentage of .828 was better than the legendary Woody Hayes (.761).

Sunday, May 22, 2011

Columbus Dispatch: Boutique hotel for Short North gets conditional OKs



An artist's rendering of the Joseph, the Pizzuti Cos.' planned 135-room boutique hotel in the Short North



The story is here

Boutique hotel for Short North gets conditional OKs

Sunday, May 22, 2011 03:19 AM

THE COLUMBUS DISPATCH

A long-planned Short North boutique-hotel project from the Pizzuti Cos. has taken an important step forward.

The Italian Village Commission last week gave conditional approval to the conceptual plans for the hotel, called the Joseph. That followed a similar thumbs-up from the Victorian Village Commission a few weeks ago.

Final approvals will be sought later this year from the commissions and the city zoning office before Pizzuti can begin construction. If all goes well, the hotel could open in 2013.

The $50 million project is to produce a 135-room hotel on the east side of N. High Street and, across N. High, a building offering about 55,000 square feet of office space, plus retail space on the ground floor and a parking garage. The hotel project is planned for property just north of the Greater Columbus Convention Center.

Pizzuti originally announced plans for the hotel in early 2008. It faced neighborhood concerns about its size and parking issues; then it was shelved for a time as the recession made it unrealistic to move forward.

"We don't typically underwrite 31/2 years of development," said Joel Pizzuti. "To be fair," he said, "if the recession hadn't occurred, it wouldn't have taken this long."

He considers the project as it stands now - slightly scaled back from what originally was envisioned - as "better today than when we started."

The plan also preserves the majority of a limestone-faced United Commercial Travelers building that fronts Goodale Park; neighborhood preservationists had wanted it to remain. It will house a collection of art assembled by the Pizzuti family over the years.

Pizzuti said the Joseph, named after his late grandfather, is being designed for a clientele different from that of the publicly financed Hilton Columbus Downtown, which is being built directly across from the convention center. That hotel is expected to open in September 2012.

"We're not going after convention business," Pizzuti said. "We're targeting the individual business traveler, the leisure traveler, people coming to Columbus for work and pleasure."

Pizzuti said he's seen real-estate financing loosen up in 2011 compared with the clamp-down that occurred after the recession hit. He said his company is talking to "a number of capital providers" about financing the Joseph.

Another Downtown boutique hotel, this one across from the Statehouse, remains in the planning stages. Rob Willard of Indiana-based Midas Hospitality said he remains optimistic about striking a deal soon to renovate two historic Broad Street buildings into a Hotel Indigo-branded hotel with the aid of tax credits.

"Hotel financing is difficult in general, (but) Columbus' Downtown is a great hotel market, especially for the size and type of hotel we are building," Willard said.

Matt MacLaren, executive vice president of the Ohio Hotel and Lodging Association, agreed that financing for new hotel projects "remains difficult for the whole state of Ohio."

He, too, is hopeful that there is room for several new hotels Downtown.

"If the marketing is done right, we'll grow the market overall," MacLaren said. "If we're able to grow the number of visitors, even with a few new hotels coming, occupancy overall will go up."

Friday, May 20, 2011

Columbus Dispatch: Fewer homes for sale in April [in Central Ohio]



Fewer homes for sale in April

Experts hope lower inventory means prices will start rising again, but they haven't yet

Friday, May 20, 2011 03:07 AM

THE COLUMBUS DISPATCH

Central Ohio home sellers have vanished with the sun this spring.

In April, 3,940 central Ohioans put a for-sale sign in front of their home, a big drop from the 4,640 who did so a year ago.

Those who track the central Ohio housing market are glad those 700 stayed home.

As the string of discouraging housing news continued yesterday, the only bright spot is the declining number of unsold homes.

Slightly more than 15,000 homes are for sale in central Ohio, compared with almost 19,000 a year ago. Experts hope home prices will finally start to rise again as inventory continues to decline.

"Housing follows the basic economic principle of supply and demand," said Columbus Board of Realtors President Rick Benjamin. "If inventory levels continue to drop, we'll see the price of homes begin to rise again."

Benjamin and others believe "recreational sellers" - those simply exploring the idea of a sale - have largely left the market, contributing to a decline in for-sale signs.

"You're going to see only the serious people out there right now," he said. "The recreational listers are underground. They're not doing anything."

In addition, some buyers have been scared from the market because of what they think their home will fetch. Average sale prices for central Ohio homes are down more than 13 percent from the $177,978 peak in 2007.

"There are sellers who have maybe tried over the past two years to sell who have just given up and are staying put," said Real Living HER agent Terry Penrod.

"And there are probably a certain number who are saying, 'It's just not a good time to sell, so I'm not going to bother.' And then there are a number of others, like those I see all the time, who aren't going to be able to sell without bringing money to the closing."

The inventory figures were released with April housing statistics that otherwise showed Ohio's long housing slump continuing.

In the Columbus area, home sales fell 25.9 percent to 1,620 units from the previous April. The average sale price fell 2.7 percent, to $154,205.

Statewide, sales were down 12.5 percent, to 9,119 units. The average sale price declined 4.6 percent, to $124,219.

Nationally, sales of previously occupied homes in April fell 12.9 percent from April 2010 and 0.8 percent from the seasonally adjusted March total, according to the National Association of Realtors.

Last year's sales were boosted by the federal home-buying tax credit.

jweiker@dispatch.com