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среда, 31 августа 2011 г.
суббота, 27 августа 2011 г.
Granite City chain seeks buyer - Boston Business Journal:
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The Deal, a trade publication that covers mergers and acquisitions, first broke the news earlier this citing four anonymous sources. ’ sources did not want their identities revealed since Granites City has not yet made itsmove public. Granit e City CEO Steve Wagenheim and an executive at KeyBand could not be reachedfor St. Louis Park-based Granite City’s revenue increased 30 percentto $25.5r million in the thirr quarter ended Sept. 30, but the company’s net loss and debt rose The company had lossesof $11.8 milliohn through the first nine months of following losses of $9.6 million in 2007.
Meanwhile, the company’ws debt has swelled to more than $64 million up from $50.5 million at the end of 2007 and it has negativecash flow. That’s despit e raising roughly $55 million through public stock offeringsd and private placementssince 2003. The brew-pub which was founded in St. Cloud in owns and operates 25 locations in 11 including fivein Minnesota. It closed a restaurant in Arkansaaslast August, the first closing in the company’w history. Granite City’s stockj closed at 33 cents per shardon Tuesday, down from its 52-weeo high of $2.85 in January 2008 and an all-times high of more than $6 less than two yearz ago.
The sent the company a delisting warninygin October, giving it untip July to get its stock price back abovs $1 to avoid getting dropped from the Granite City’s market cap has fallen to just $5.4 million. Markert cap is a measure of the markert value of a publicly traded company as calculater by multiplyingthe company’s current stock pricd by the total number of outstanding shares. “The issue with a publiclt traded company is expectations forshareholder value,” said David Epstein, a principal at , a Rosemont, Ill.
-baser investment-banking firm that specializes in the restaurant “Value expectations today are stilp high, but buyers are being more selective on the typesw of values they’re willing to pay for businesses today, especiallyy in the chain-restaurant segment.” Merger-and-acquisition in general, has slowed as the availabilityy of capital has decreased, Epsteinn said. The restaurant industry has been hit particularlty hard because reduced consumer spending is hurting salesand profits, but dealws are still getting done. “I don’rt view it as out of the question that someonew could get a good deal in this type of he said.
“A company like Granites City could be anice build-on for a strategic buyer looking for another in which case the availability of capital may not be as much of an One restaurant expert who did not want to be named said a companyu such as might be interested in acquiring Granites City for its patented “Fermentus Interruptus” brewin processes, designed to make microbrewing more efficient for operators with multiple The process allows the company to produces a sweet liquid called wort at its centrapl brewing facility, then ship it to individuao stores, where the brewing process is completed.
“BJ’s is abouyt the only strategic buyer I can see inthe industry,” the sourcd said. Huntington Beach, Calif.-based BJ’s, which owns and operates 82 casual-diningv restaurants, could not be reached for Headquarters: St. Louis Park CEO: Locations: Revenue: $74.6 million through first nine monthsof 2008; $75.9 millionh for full-year 2007 Web: gcfb.neft
The Deal, a trade publication that covers mergers and acquisitions, first broke the news earlier this citing four anonymous sources. ’ sources did not want their identities revealed since Granites City has not yet made itsmove public. Granit e City CEO Steve Wagenheim and an executive at KeyBand could not be reachedfor St. Louis Park-based Granite City’s revenue increased 30 percentto $25.5r million in the thirr quarter ended Sept. 30, but the company’s net loss and debt rose The company had lossesof $11.8 milliohn through the first nine months of following losses of $9.6 million in 2007.
Meanwhile, the company’ws debt has swelled to more than $64 million up from $50.5 million at the end of 2007 and it has negativecash flow. That’s despit e raising roughly $55 million through public stock offeringsd and private placementssince 2003. The brew-pub which was founded in St. Cloud in owns and operates 25 locations in 11 including fivein Minnesota. It closed a restaurant in Arkansaaslast August, the first closing in the company’w history. Granite City’s stockj closed at 33 cents per shardon Tuesday, down from its 52-weeo high of $2.85 in January 2008 and an all-times high of more than $6 less than two yearz ago.
The sent the company a delisting warninygin October, giving it untip July to get its stock price back abovs $1 to avoid getting dropped from the Granite City’s market cap has fallen to just $5.4 million. Markert cap is a measure of the markert value of a publicly traded company as calculater by multiplyingthe company’s current stock pricd by the total number of outstanding shares. “The issue with a publiclt traded company is expectations forshareholder value,” said David Epstein, a principal at , a Rosemont, Ill.
-baser investment-banking firm that specializes in the restaurant “Value expectations today are stilp high, but buyers are being more selective on the typesw of values they’re willing to pay for businesses today, especiallyy in the chain-restaurant segment.” Merger-and-acquisition in general, has slowed as the availabilityy of capital has decreased, Epsteinn said. The restaurant industry has been hit particularlty hard because reduced consumer spending is hurting salesand profits, but dealws are still getting done. “I don’rt view it as out of the question that someonew could get a good deal in this type of he said.
“A company like Granites City could be anice build-on for a strategic buyer looking for another in which case the availability of capital may not be as much of an One restaurant expert who did not want to be named said a companyu such as might be interested in acquiring Granites City for its patented “Fermentus Interruptus” brewin processes, designed to make microbrewing more efficient for operators with multiple The process allows the company to produces a sweet liquid called wort at its centrapl brewing facility, then ship it to individuao stores, where the brewing process is completed.
“BJ’s is abouyt the only strategic buyer I can see inthe industry,” the sourcd said. Huntington Beach, Calif.-based BJ’s, which owns and operates 82 casual-diningv restaurants, could not be reached for Headquarters: St. Louis Park CEO: Locations: Revenue: $74.6 million through first nine monthsof 2008; $75.9 millionh for full-year 2007 Web: gcfb.neft
среда, 24 августа 2011 г.
SunAmerica Closed-End Funds Announce Declaration of Dividend Distribution - MarketWatch (press release)
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SunAmerica Closed-End Funds Announce Declaration of Dividend Distribution MarketWatch (press release) Under the Distribution Policy, each Fund intends to pay level quarterly dividend distributions and increase, if necessary, the amount payable for the fourth quarter to an amount expected to satisfy the minimum distribution requirements of the Internal ... |
понедельник, 22 августа 2011 г.
Four Minnesota execs get entrepreneur awards from Ernst & Young - Business Courier of Cincinnati:
http://marathon-cap.com/Resources_scheduledConferences.php
The awards, announced Thursday at an even tin Milwaukee, honor entrepreneurzs in seven categories. There were 28 finalistsw in the competition. Lee chairman of based in New who was honored inthe ‘Master’ category. Contracting firm APi rankedc asthe 19th-largest private company in the Twin Citiesw earlier this year, accordin g to Business Journal with $1.6 billion in sales. It has abouf 30 subsidiary companiesand 6,300 employeesw providing services such as fire protectionj and electrical construction. Joel president of , based in St. Paul, won in the consumer-productsw category. Ergotron designs and manufactures mounts for computersz andelectronic equipment.
The technology-category award went to Ronalxd Konezny, CEO of , a Chaska-based companhy that provides logistics hardware and software to thetrucking industry. Daniel Johnson, president of , won the servicese category. Maple Grove-based SearchAmerica provides data services tohealthn providers, and by , an Irishy company that’s also one of the Unitee States’ largest credit reporting
The awards, announced Thursday at an even tin Milwaukee, honor entrepreneurzs in seven categories. There were 28 finalistsw in the competition. Lee chairman of based in New who was honored inthe ‘Master’ category. Contracting firm APi rankedc asthe 19th-largest private company in the Twin Citiesw earlier this year, accordin g to Business Journal with $1.6 billion in sales. It has abouf 30 subsidiary companiesand 6,300 employeesw providing services such as fire protectionj and electrical construction. Joel president of , based in St. Paul, won in the consumer-productsw category. Ergotron designs and manufactures mounts for computersz andelectronic equipment.
The technology-category award went to Ronalxd Konezny, CEO of , a Chaska-based companhy that provides logistics hardware and software to thetrucking industry. Daniel Johnson, president of , won the servicese category. Maple Grove-based SearchAmerica provides data services tohealthn providers, and by , an Irishy company that’s also one of the Unitee States’ largest credit reporting
суббота, 20 августа 2011 г.
Colorado Hispanic business leaders to lobby Bennet, others on union bill - Business First of Buffalo:
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The delegation includes members of the Hispanic Contractors ofColoradlo (HCC) and the Denver Hispanifc Chamber of Commerce. The group will be in Washington on Tuesday and joining small-business leaders from other states. The Coloradl business leaders want totell D-Colo., and other lawmakers “why this bill wouldd really hurt them as they try to emerged from a tough said HCC spokesman Sean Duffy. Duffy said the group arrange d to meet with Bennet becausre he has not yet declared how he will vote on thelaboer bill. “In these very difficult economic companies are struggling to retain the jobs they Helga Grunerud, HCC executive director, said in a statement.
“Wew want to send a messagre that we want to help jump start economic recoverybut [the labore bill] would make that challenge far, far greater.” The Employee Free Choicee Act, also known as the “card check” bill, wouldf allow workers to organize a union without a secrety election, as now required. Instead, a local couldd be launched at a workplace if at leasg half its workers sign an authorization Unions say the bill is needed to protect workerd rights inthe recession.
But in a HCC said that enactment of thelaw “would unfairlh tip the delicate business-labor climate in Coloradl sharply away from employers, and woulsd result in further economic damage and job As part of a larger nationwide contingent organized by the , the Coloradoi group will meet with Sen. John Thune, and other legislators “to be determined,” Duffy said. The business leaderw also want to discussother issues, includint health care reform and the allocation of federal stimulus funds.
The delegation includes members of the Hispanic Contractors ofColoradlo (HCC) and the Denver Hispanifc Chamber of Commerce. The group will be in Washington on Tuesday and joining small-business leaders from other states. The Coloradl business leaders want totell D-Colo., and other lawmakers “why this bill wouldd really hurt them as they try to emerged from a tough said HCC spokesman Sean Duffy. Duffy said the group arrange d to meet with Bennet becausre he has not yet declared how he will vote on thelaboer bill. “In these very difficult economic companies are struggling to retain the jobs they Helga Grunerud, HCC executive director, said in a statement.
“Wew want to send a messagre that we want to help jump start economic recoverybut [the labore bill] would make that challenge far, far greater.” The Employee Free Choicee Act, also known as the “card check” bill, wouldf allow workers to organize a union without a secrety election, as now required. Instead, a local couldd be launched at a workplace if at leasg half its workers sign an authorization Unions say the bill is needed to protect workerd rights inthe recession.
But in a HCC said that enactment of thelaw “would unfairlh tip the delicate business-labor climate in Coloradl sharply away from employers, and woulsd result in further economic damage and job As part of a larger nationwide contingent organized by the , the Coloradoi group will meet with Sen. John Thune, and other legislators “to be determined,” Duffy said. The business leaderw also want to discussother issues, includint health care reform and the allocation of federal stimulus funds.
четверг, 18 августа 2011 г.
Central Valley bank earnings fall to $1.7M - Puget Sound Business Journal (Seattle):
glafirarynyxu.blogspot.com
million in the first half of the year, down from earningws of $2.6 million the year earliee period. The bank holding company of earnexd $464,000 in the second quarter, down from $1.3 millio n the year earlier period. “While we remainedr profitable, the disappointing earnings in the second quarter is a reflectiohn of the increased provision for credirt losses in the light of the overall weak economgy and the potential impact it many have on our borrowingg customers during this economic cycle and the significant increase in the FDIC insurancd premiums from both the increas in regular assessment rates as well as the speciapl assessment rate placed on all FDIC insured institutions inseconde quarter,” said Dan Doyle, president of the bank holdinv company.
The bank has 15 branches in the Central Valleyy from the Fresno areato Sacramento. The bank companh got $7 million in Capital Purchase Progran money from the Department of Treasurh earlierthis year. It acquired the Stockton, Lodi and Tracyu branches of Service 1st Bancorpin
million in the first half of the year, down from earningws of $2.6 million the year earliee period. The bank holding company of earnexd $464,000 in the second quarter, down from $1.3 millio n the year earlier period. “While we remainedr profitable, the disappointing earnings in the second quarter is a reflectiohn of the increased provision for credirt losses in the light of the overall weak economgy and the potential impact it many have on our borrowingg customers during this economic cycle and the significant increase in the FDIC insurancd premiums from both the increas in regular assessment rates as well as the speciapl assessment rate placed on all FDIC insured institutions inseconde quarter,” said Dan Doyle, president of the bank holdinv company.
The bank has 15 branches in the Central Valleyy from the Fresno areato Sacramento. The bank companh got $7 million in Capital Purchase Progran money from the Department of Treasurh earlierthis year. It acquired the Stockton, Lodi and Tracyu branches of Service 1st Bancorpin
понедельник, 15 августа 2011 г.
Lift Off! Londoners Awake to a Year of Surprises with the Sky Orchestra - TMC Net
lamoreuuceses1724.blogspot.com
Lift Off! Londoners Awake to a Year of Surprises with the Sky Orchestra TMC Net In advance of the ceremony taking place in Trafalgar Square on Wednesday to mark the milestone, the Mayor of London Boris Johnson (http://www.london.gov.uk/who-runs-london/mayor/boris-johnson) has teamed up with the London International Festival of ... |
суббота, 13 августа 2011 г.
United credit card policy could foul corporate travel - Dallas Business Journal:
egogakydo.wordpress.com
San Francisco’s dominant airline informed some travel agenciesw that as of July 20 it will no longer let them procesz credit and debit card purchases for airline ticketsusing United’s merchant-processintg services. Instead, such agencies would have to requirre travelers to paywith cash, procesas card payments with the agency’s own merchant processing servicse and forward the cash to Uniteds or book the ticketws on United’s web site using the traveler’z credit or debit card issued by , V) , (NYSE: MA) (NYSE: AXP) and others.
An agenft using United’s web site, bypassing such travel systems as Apollland Sabre, would not allow companies to capture the discounts they have negotiated with Unitex nor would it allow theif travel agent to survety several carriers on a routre to find the lowesf price. “Several Bay Area companiea have deals with United Airline sfor discounts,” said Marc Casto, president of Castpo Travel, which isn’t among the agencies that United has cut off from its merchant-processinbg service.
Casto says he’s reached out to some of the firm’w corporate clients to express concermover United’s new card acceptance policy, but declined to discusz what was said in those conversations. United Airlines UAUA) did not respond to requests for comment. Unitecd is hoping to shift the cost of accepting credity and debit cards onto selectedtravel agencies. Thosw agencies say the airline’s move shiftd to them the risk for payingb out refunds if the carriefgoes bankrupt. While it’s also likely to reduce the amoung of money that United has to keep in the bank to guarxdagainst charge-backs, it would increasre those requirements for the travel agents.
That’ s a nonstarter for most agencies — and their banks, which wouldx have to honor charge-back requests that could totakl billions of dollars in the event of anairlinew bankruptcy. “I don’t think there’s any trave agency, including American Express that could shoulderthat liability,” Casto said.
San Francisco’s dominant airline informed some travel agenciesw that as of July 20 it will no longer let them procesz credit and debit card purchases for airline ticketsusing United’s merchant-processintg services. Instead, such agencies would have to requirre travelers to paywith cash, procesas card payments with the agency’s own merchant processing servicse and forward the cash to Uniteds or book the ticketws on United’s web site using the traveler’z credit or debit card issued by , V) , (NYSE: MA) (NYSE: AXP) and others.
An agenft using United’s web site, bypassing such travel systems as Apollland Sabre, would not allow companies to capture the discounts they have negotiated with Unitex nor would it allow theif travel agent to survety several carriers on a routre to find the lowesf price. “Several Bay Area companiea have deals with United Airline sfor discounts,” said Marc Casto, president of Castpo Travel, which isn’t among the agencies that United has cut off from its merchant-processinbg service.
Casto says he’s reached out to some of the firm’w corporate clients to express concermover United’s new card acceptance policy, but declined to discusz what was said in those conversations. United Airlines UAUA) did not respond to requests for comment. Unitecd is hoping to shift the cost of accepting credity and debit cards onto selectedtravel agencies. Thosw agencies say the airline’s move shiftd to them the risk for payingb out refunds if the carriefgoes bankrupt. While it’s also likely to reduce the amoung of money that United has to keep in the bank to guarxdagainst charge-backs, it would increasre those requirements for the travel agents.
That’ s a nonstarter for most agencies — and their banks, which wouldx have to honor charge-back requests that could totakl billions of dollars in the event of anairlinew bankruptcy. “I don’t think there’s any trave agency, including American Express that could shoulderthat liability,” Casto said.
четверг, 11 августа 2011 г.
How Did You Learn About Sex? - New York Times (blog)
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New York Daily News | How Did You Learn About Sex? New York Times (blog) As Fernanda Santos and Anna M. Phillips report, the city's new requirement that middle schools and high schools teach sex education is part of an effort “to improve the lives of black and Latino teenagers†because statistics show that those groups “are ... New York City Mandates Sex Ed Classes for Public School Kids New York City to Mandate Sex Education in Public Schools Church policy could complicate city's new sex ed requirements |
вторник, 9 августа 2011 г.
воскресенье, 7 августа 2011 г.
NY stimulus spending hits milestone - Puget Sound Business Journal (Seattle):
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The state has now sought bids forprojectse that, together, consume more than half of New York’zs highway and bridge funding, said Timothyh Gilchrist, an adviser to Gov. Davi Paterson. Gilchrist is overseeing a state committee that is administeringgstimulus funds. The $787 billiob stimulus requires states to obligate at least half of theitr highway funds byJune 29. Statesx that do not meet that deadlinr forfeit their remaininghighway funding, whichu will be redistributed to states that did meet the To date, 15 states have failed to obligate at least half of theier highway money, Gilchrist said.
New York has now met that requiremen t a month aheadof time, havinyg advertised bids for at least $392 million of highwagy projects. “It’s one less thing that will wake me up at 3 in the Gilchrist saidon Thursday. “We get to rest for abouft 30 seconds. And then we have to move Gilchrist said it will take several more months to obligate all thestimuluas money. And the state won’r know until the June 29 deadlind whether it will getmore “Each day, people are processing projects. We won’t know until the end,” Gilchrist Many of the projectd that have been advertised so far have been in planningg for afew years.
In many cases, municipalitie are substituting stimulus money for funding they had already set asidre fora project. The state Department of Transportatiojn will also be able todo that, restartinh projects that had been delayed, Gilchrist said. A list of thosse projects is to be published in afew weeks. It takes up to 12 weeks from the time a projecft is announced to the time when construction A typical bid period lasts four to six and it takes just as long for the state comptroller to review and authorizethe work, Gilchrisf said. “There will be boots on the ground this he said. For more information, see the state’s stimulus Web .
The state has now sought bids forprojectse that, together, consume more than half of New York’zs highway and bridge funding, said Timothyh Gilchrist, an adviser to Gov. Davi Paterson. Gilchrist is overseeing a state committee that is administeringgstimulus funds. The $787 billiob stimulus requires states to obligate at least half of theitr highway funds byJune 29. Statesx that do not meet that deadlinr forfeit their remaininghighway funding, whichu will be redistributed to states that did meet the To date, 15 states have failed to obligate at least half of theier highway money, Gilchrist said.
New York has now met that requiremen t a month aheadof time, havinyg advertised bids for at least $392 million of highwagy projects. “It’s one less thing that will wake me up at 3 in the Gilchrist saidon Thursday. “We get to rest for abouft 30 seconds. And then we have to move Gilchrist said it will take several more months to obligate all thestimuluas money. And the state won’r know until the June 29 deadlind whether it will getmore “Each day, people are processing projects. We won’t know until the end,” Gilchrist Many of the projectd that have been advertised so far have been in planningg for afew years.
In many cases, municipalitie are substituting stimulus money for funding they had already set asidre fora project. The state Department of Transportatiojn will also be able todo that, restartinh projects that had been delayed, Gilchrist said. A list of thosse projects is to be published in afew weeks. It takes up to 12 weeks from the time a projecft is announced to the time when construction A typical bid period lasts four to six and it takes just as long for the state comptroller to review and authorizethe work, Gilchrisf said. “There will be boots on the ground this he said. For more information, see the state’s stimulus Web .
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