Toll Brothers Inc (NYSE:TOL) a national builder of luxury homes purchased a 33-lot subdivision known as Atalon in northeast Scottsdale for $5 million ($152,000 per lot). The property, of approximately 81 acres, was annexed into the City of Scottsdale in 1982 as low density residential. The property comprises 11 parcels and sold with a preliminary plat for 33-lots approved by Scottsdale City Council January, 2012. Approximately 19 acres of the property is designated for natural open space.

A significant detail of Atalon is the boulder outcroppings and two large ephemeral washes that run through it. The site is located at the southwest corner of 118th Street and East Pinnacle Vista Drive in Scottsdale. To the south of this project is the Desert Summit Subdivision.

Toll Brothers believe that preserving the natural environment is an integral part of creating a community where anyone would be proud to call home. That means everything from environmentally sensitive planning to energy-efficient home design. Nationwide, Toll Brothers partners with conservation groups that include the National Wildlife Federation and Audubon International. In addition, the homes are designed to harmonize with the scenic beauty of the surrounding landscape. The goal is to preserve as much open space as possible, incorporating and even restoring the existing hills, trees, and ponds. Homes include numerous green features that help to minimize our impact on the environment. By going green with a new Toll Brothers home, homeowners save money, while making a difference, and maximizing the quality of life.

Toll Brothers is currently building in 19 states: Arizona, California, Colorado, Connecticut, Delaware, Florida, Illinois, Maryland, Massachusetts, Michigan, Minnesota, Nevada, New Jersey, New York, North Carolina, Pennsylvania, Texas, Virginia, and Washington.

Toll Brothers can be contacted at (480) 951-0782.

TUCSON, AZ – E.ON Climate & Renewables (EC&R) Solar held a dedication ceremony Monday of its first two solar photovoltaic (PV) projects in the Tucson, Arizona area delivering a combined total of 15 megawatts (MW) of solar capacity. Both projects have long-term power purchase agreements (PPAs) with Tucson Electric Power (TEP).

“These are our maiden solar facilities in the U.S. and signal E.ON’s commitment to solar development in the U.S. market,” said Steve Trenholm, Chairman E.ON North America.

Dr. Christophe Jurczak, CEO of E.ON Climate & Renewables Global Solar added that E.ON plans to continue to deliver innovative technological solutions to an ever changing world. “I am happy to say that these two projects are among the most technologically advanced solar PV projects in the world.”

In a statement, Congressman Ron Barber of Arizona praised the economic development opportunities that solar power brings to Arizona and the local community. “Solar-generating capacity in the United States continues to grow each year. I am proud that Arizona is a solar leader with nearly 10,000 people employed in my state’s rapidly growing solar industry.”

The first of the two projects, a 5 MW project called Tech Park Solar (TPS), was developed in collaboration with the University of Arizona Science and Technology Park (UA Tech Park) and TEP.  The project started generating power in December 2012.

“The Tech Park Solar installation is an excellent example of cutting-edge technology being showcased at the UA Tech Park’s Solar Zone,” said Ken Marcus, Director and UA Tech Park. The Solar Zone is home to installations by seven companies using nine different solar technologies.

The second, 10MW, project, Valencia Solar, came online in June 2013.

“We’ve been consistently impressed by E.ON. The company offers innovative tracking technologies and their employees possess strong expertise in renewable energy. E.ON is easy to work with and we would be pleased to work with them again,” said Carmine Tilghman, TEP’s Director of Renewable Energy.

During the ceremony, E.ON donated $10,000 to Casa de los Ninos, a local non-profit organization dedicated to preventing and treating child abuse and neglect in Tucson. “The depth of their compassion matches their resolve. This year marks their 40th year of delivering critical services to the most vulnerable people in the Tucson area,” said Trenholm.

E.ON Climate & Renewables (EC&R), headquartered in Essen, Germany, is responsible for E.ON’s large-scale renewable energy activities. EC&R plays a leading role in the development of the renewable industry worldwide and is already active in onshore and offshore wind, photovoltaic, and concentrating solar power (CSP). E.ON currently operates over 9 GW of renewable capacity including large hydro. Since its formation in 2007, EC&R has already invested more than 9 billion Euros, including more than $5 billion in the U.S solar and wind facilities, and will continue to expand the share of renewable energy in E.ON’s power generation portfolio. For more information, please visit www.eon.com/renewables.

Tucson Electric Power provides safe, reliable electric service to approximately 406,000 customers in southern Arizona. TEP was recognized this year as a leader in solar energy when it was included in two Solar Electric Power Association’s (SEPA’s) “top 10” lists of utilities that have added the most new solar power to their renewable energy portfolio, and the most solar on a watts-per-customer basis in 2012. TEP currently has more than 150 megawatts (MW) of solar generating capacity, enough to meet the annual electric needs of more than 30,000 Tucson homes. By the end of 2014, TEP expects to have more than 228 MW of solar generating capacity, enough to meet the annual electric needs of more than 45,000 homes. To learn more, visit https://www.tep.com/. For more information about TEP’s parent company, UNS Energy (NYSE: UNS), visit https://www.uns.com/.

The UA Tech Park advances the University of Arizona’s research mission and its efforts at technology development and technology commercialization.

The Solar Zone was developed in partnership between the UA Tech Park and Tucson Electric Power.  The Solar Zone at the UA Tech Park is one of the largest multiple tenant, multiple technology demonstration site in the United States.  The Solar Zone’s comprehensive scope is key to its innovative approach to creating a regional solar-based economy.  At completion, the Solar Zone will accommodate all significant components of the solar energy continuum: generation and storage; manufacturing and assembly; research and development; workforce development; and education and public awareness.

Business Matters is designed to give news snippets to readers that our (yet to be award winning) editors thought you could use to start your day. They come from various business perspectives, real estate, government, the Fed, local news, and stock market to save you time. You might find anything here for a quick read and tidbit of knowledge. We also call it the reading candy store.

The Dow Jones industrial average fell 133.25 points, or 0.9%, to 15,168.01. The Standard & Poor’s 500 index fell 12.08 points, or 0.7%, to 1,698.06. The NASDAQ composite fell 21.26 points, or 0.6%, to 3,794.01.  Benchmark crude for November delivery fell $1.20 to close at $101.21 a barrel on the New York Mercantile Exchange.

WALMART PLAYING WITH NFL ON BLACK FRIDAY

Walmart has been an advertiser on National Football League broadcasts in the past, but the retail giant rarely has bought a lot of TV spots during games because of the high cost. But, all that appears to be changing as the retailer is increasing its NFL advertising this Thanksgiving to support its Black Friday sales, reports AdAge. “We’re doing more with the NFL around Black Friday than we’ve ever done,” said Walmart U.S. Chief Marketing Officer Stephen Quinn during an interview at the Association of National Advertisers Masters of Marketing Conference earlier this month in Phoenix.

TREASURY RATES RISE WITH 3-MO. BILLS HITTING HIGHEST LEVEL SINCE FEBRUARY 2011

WASHINGTON – Interest rates on short-term Treasury bills rose in Tuesday’s auction, with three-month bills reaching the highest level in more than two years. The Treasury Department auctioned $35 billion in three-month bills at a discount rate of 0.130%, up from 0.035% last week. Another $30 billion in six-month bills was auctioned at a discount rate of 0.150%, up from 0.060%. The three-month rate was the highest since three-month bills averaged 0.145% on Feb. 28, 2011. The six-month rate was the highest since those bills averaged 0.160% on Oct. 29, 2012.

FITCH PUTS US CREDIT RATING ON NEGATIVE WATCH

WASHINGTON – The Fitch credit rating agency has warned that it is reviewing the U.S. government’s AAA credit rating for a possible downgrade, citing Thursday’s looming deadline to increase the nation’s borrowing limit. Fitch has placed the U.S. credit rating on negative watch, a step that would precede an actual downgrade. The agency said it expects to conclude its review within the next six months.  Fitch says it expects the debt limit will be raised soon, but adds, “the political brinkmanship and reduced financing flexibility could increase the risk of a U.S. default.” Fitch is one of the three leading U.S. credit ratings agencies, along with Standard & Poor’s and Moody’s. S&P downgraded U.S. long-term debt to “AA” in August 2011.

HIGH-SPEED STREETCAR TESTING BEGINS ALONG UNIVERSITY BLVD

TUCSON -This week, the City’s Sun Link Streetcar will undergo tests at speeds of up to 42 m.p.h. in order to check its braking systems. It has three braking systems: disc brakes, a magnetic brake, and regenerative braking, which can be compared to a truck using its engine brake. The testing runs from Sunday to possibly Thursday.  No parking is allowed on University Boulevard from 5 p.m. to 5 a.m., and no traffic is allowed after 8 p.m.

NEW AIRLINE SEATS SQUEEZE IN 5 OR 6 MORE PASSENGERS

It’s not your imagination. There really is a tighter squeeze on many planes these days. The big U.S. airlines are taking out old, bulky seats in favor of so-called slimline models that take up less space from front to back, allowing for five or six more seats on each plane. The changes, covering some of the most common planes flown on domestic and international routes, give the airlines two of their favorite things: More paying passengers, and a smaller fuel bill because the seats are slightly lighter. It’s part of a trend among the airlines to view seats as money-makers, not just pieces of furniture. Add a few inches of legroom and airlines can charge more for tickets. Take away a few inches and they can fit more seats on the plane.

TWITTER TO LIST ON NEW YORK STOCK EXCHANGE

NEW YORK – The New York Stock Exchange is edging out its tech-heavy rival for the biggest stock debut of the year. Twitter says it will list its shares on the NYSE. The micro-blogging service does not say in its latest regulatory filing when it expects to start trading, but the debut is expected before Thanksgiving. It chose the NYSE over the NASDAQ stock exchange, which fumbled Facebook Inc.’s debut last year, damaging its reputation. Both exchanges heavily courted Twitter, which is expected to be the marquee IPO of the year.

COKE EXECUTIVE: DIET COKE UNDER PRESSURE

NEW YORK – Diet Coke, the country’s No. 2 soda, may be losing some of its pop. During a conference call with analysts Tuesday, a Coca-Cola executive noted that Diet Coke was “under a bit of pressure” because of people’s concerns over its ingredients, alluding to the growing wariness of artificial sweeteners in recent years. Steve Cahillane, who heads Coca-Cola’s North American and Latin American business, noted that the issue wasn’t specific to Diet Coke, but that many diet foods and drinks in the U.S. are facing the same concerns.

DEVELOPER CLAIMS COUNTY VIOLATED HIS 1ST AMENDMENT RIGHTS, IN LAWSUIT

TUCSON – Developer Michael Farley is alleging Pima County cost him and his investment group millions when it pulled out of a deal to reroute Valencia Road near Kolb Road. Farley said the move was retaliation over his political activity during the 2012 election, when he backed an unsuccessful campaign against incumbent county supervisors. The lawsuit contends that the county’s vindictive actions violated Farley’s right to free speech and to petition.

NY FIGHTS SITE LISTING HOMES FOR TOURISTS TO RENT

NEW YORK – Each night, people in apartments all over New York City are cleaning up, putting out fresh towels and clearing out — to rent their private space to strangers from around the world. Thousands of city residents are using websites such as Airbnb.com to list apartments or rooms for as little as $35 a night, a phenomenon officials say is illegal in many cases, undercuts the hotel industry, avoids taxes and threatens apartment building safety. New York’s top prosecutor is demanding that Airbnb turn over data on city dwellers who have listed on the site as part of an investigation into whether residents are breaking a state law barring sublets for fewer than 30 days if occupants are not present.

YAHOO’S 3Q RESULTS DROP ALONG WITH AD PRICES

SAN FRANCISCO – Yahoo is regaining its appeal among investors a lot faster than with the online advertisers who generate most of its revenue. The company’s third-quarter numbers released Tuesday are the latest to underscore the challenges facing CEO Marissa Mayer even as Yahoo’s stock continues to soar under her leadership. The shares have more than doubled since Yahoo lured Mayer away from rival Google Inc. 15 months ago, largely because investors prize Yahoo’s 24% stake in Chinese Internet star Alibaba Group Holding.  Alibaba is already making far more money than Yahoo while growing at a rapid pace that bodes well for the future.

CITIGROUP EARNING EDGE LOWER, MISS ESTIMATES

NEW YORK – Citigroup said its earnings fell slightly in the third quarter after a $1 billion drop in revenue from its bond trading business and a slump in mortgage refinancing. Net income for the July-to-September period fell to $3.26 billion from $3.27 billion in the same period a year ago after excluding an accounting gain and other one-time items. The earnings amount to $1.02 per share compared with $1.06 per share a year earlier. Revenue fell to $18.2 billion compared with $19.2 billion a year earlier.

WALMART ANNOUNCES DISCIPLINED STORE EXPANSION

NEW YORK – Wal-Mart Stores Inc. is embracing a disciplined approach to expansion as it responds to a challenging global economy and increasing consumer demands for more convenience. The world’s largest retailer said that it’s closing some stores in China and Brazil to boost productivity in those markets, while it’s accelerating the expansion of small stores in the U.S. at a faster pace than that of its supercenters. It aims to tether these small stores to supercenters, which will act as mini warehouse hubs for their smaller cousins.  The plans, announced at the retailer’s annual analysts’ meeting on Tuesday, come as Walmart aims to cut costs in the face of increasing pressure from expanding competition. That includes online retailers like Amazon.com as well as dollar stores, which have been rapidly adding locations and winning customers with low prices and easy access.

DEPORTATION PROTESTS STRAIN TUCOSN POLICE DEPARTMENT PATROLS

TUCSON – Last Friday, two protests condemning the government’s deportation program, “Operation Streamline,” erupted at the same time, at two locations in the City of Tucson. During the five hours the protests went on, nearly 100 Tucson Police Department Officers were dispatched to both locations. Tucson Police Public Information Officer, Sgt. Chris Widmer, says many of those officers were pulled from patrols throughout the city straining the department’s ability to protect the residents of Tucson.