Contributing Editors

Ontario Self Storage Facility Nominated for Eco Action Award of Excellence

by Tony Gonzalez October 22, 2010 2:03 AM
Tonight, an Ontario business group will announce the winners for a local award presented to a green business that is especially environmentally-friendly. The award, called the Eco Action Award of Excellence, is new this year, and is one of a series of awards, called the Ruby Awards, presented annually by the Welland-Pelham Chamber of Commerce. It was sponsored by Climate Action Niagara. A local self storage company, Federal Self Storage, is in the running. [More]

Real Estate Investors Turn to Self Storage Properties

by Holly Robinson October 21, 2010 10:48 PM
Investors continue to take advantage of real estate investment opportunities in self storage as a way to escape otherwise risky commercial real estate markets, reports this week suggest. Self storage properties -- or land destined for self storage properties -- changed hands in Texas, Florida, and New York this week. [More]

Should State Governments Get Into the Storage Business? Public Reaction to Idaho’s New Self Storage Venture is Mixed

by Kim Kilpatrick October 21, 2010 10:04 PM
Should state governments be running commercial real estate ventures? The subject is controversial, but a recent decision by the Idaho Lands Department to go into the self storage business is stirring up interest. Idaho’s Department of Lands purchased Affordable Self Storage of Boise two months ago and is running it as a tax-exempt business. [More]

Ohio University Libraries Throw Out Books for Lack of Storage Space

by Tony Gonzalez October 19, 2010 3:58 PM
For lack of storage space, the state of Ohio is throwing out spillover books from 13 of its university libraries. Librarians say that the library warehouses simply do not have enough book storage to hold all of the materials. Instead, librarians have announced to the media that their goal is simply to hold at least two physical copies each, in the entire state, of lesser-used academic books and journals. [More]

Period Clothing Comes Out of Storage Straight Back into Style

by Winnie Hsiu October 19, 2010 3:18 PM
Fashion trends, as the saying goes, are cyclical -- more so in hard times, during recession economies, than at other times. Families are raiding their storage units and the backs of their closets to find timeless clothing that once seemed dated, but now has become trendy. Particularly trendy this season are military styles: bomber jackets, trench coats, cargo pants, and camouflage. [More]

Investors Use Storage to Safeguard Precious Metals

by John Stevens October 18, 2010 8:10 PM
Taking advantage of the secure nature of storage facilities, U.S. foreign investors in precious gold and silver have begun to use storage facilities as giant safes. On Monday, Oct. 18, 2010, Kitco Metals, one of the world’s premier retailers of precious metals, announced that it will soon be offering a gold and silver storage program in Canada to its investors. Kitco had previously opened gold and silver storage facilities in the United States and Asia. Opening the new program in Canada is part of Kitco's strategy of geographical diversification, which means distributing holdings across different physical locations. [More]

CA Self Storage Manager Steps in to Bury Forgotten Veteran

by Holly Robinson October 18, 2010 6:00 PM
Self storage manager Jerry Petersen was cleaning out an abandoned storage unit in Citrus Heights, California, when he found someone who should never have been forgotten. He found the ashes of Chief Master Sergeant James Gerald Leach, who died in 1997. The ashes had been left in unit 5001 of the Mini Stor facility on Auburn Boulevard in Citrus Heights. Petersen decided then and there that he had to make sure that Leach received a proper veterans burial. [More]

ND College Opens Gun Storage Facility for Student Hunters

by Kim Kilpatrick October 15, 2010 12:13 PM
Like most U.S. colleges and universities, North Dakota State University has a “no weapons” policy on campus. But the policy has made it difficult for students who hunt in the winter to pursue their hobby -- so NDSU has opted to open a gun storage site where students can store firearms, ammunition, and bows safely and securely, without threatening campus security. [More]

Lenders Continue to Rein in the “Burger King Kids”

by Tony Gonzalez October 14, 2010 11:53 PM
Who is responsible for deciding if your home will be foreclosed on? At JP Morgan Chase, according to yesterday’s New York Times, the bureaucrats in charge of foreclosure paperwork were called the “Burger King kids” because they had so little experience in banking. At Citigroup and GMAC Mortgage, foreclosure paperwork was not always done by the lender itself -- instead, lenders outsourced the paperwork to workers in Guam and the Philippines. Inexpert workers sometimes threw needed paperwork in the trash, the Times reported. The charges were just the latest in a round of criticisms of the mortgage industry’s “robo-signers,” bank employees who were in charge of checking foreclosure documents prior to a repossession by the bank.

As the foreclosure crisis deepens, Attorney Generals in all 50 states have announced that they will work together on a joint investigation. At least six major lenders are reviewing their own foreclosure procedures internally, while four lenders have announced a moratorium on foreclosures until they can complete an internal review. Self storage industry experts have watched the crisis unfold with concern, as self storage companies step in to help Americans who have lost their homes and need a place to put their possessions. Several self storage companies offer discounts or free rent for the first month, partially in an attempt to offer some relief to new tenants who may be facing foreclosure, unemployment, or who are recovering from other crises. [More]

Restore That Classic Car Before Storing It, Paul Burt Says

by John Stevens October 14, 2010 12:45 AM
Planning to preserve your classic car into by putting it into self storage? You may want to have the car professionally restored first, according to Paul Burt. Burt has had a diverse career -- he has earned his living as a stand up comedian in New York City, as a published poet, and is also the former CEO of West Financial Group. But now Burt has reinvented himself yet again -- he has started his own facility to restore classic cars, vintage and antique cars and trucks, and other special interest vehicles that are commonly collected by auto aficionados. Burt’s new business, The Burt Collection, opened Sept. 24 on Ballard Drive in Lake Forest, Illinois. [More]
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