FORT LAUDERDALE, FL-The diversified bank holding, securities and homebuilding company is simplifying its capital structure and reducing outstanding debt.

PORTLAND-As reported here nine months ago, McDonald's is planning to take over the former Arby's on 34th and Hawthorne in Southeast Portland. The land and building are owned by John Biggi Jr. of Portland-based Biggi Investment Co.

BOSTON-The battle over a proposed new runway here at Logan International Airport intensifies as the city hires a powerful local law firm to defend a 25-year old injunction against the runway.

AUSTIN-Construction crews are hard at work on the 123,500-sf Travis Oaks office building going up along Southwest Parkway. There is a lot of interest, but no lease pacts have been signed as yet. It's the summer doldrums, says the broker.