(Reuters) - IStar Financial Inc SFI, which lends primarily to real estate-related businesses, said it expects to post a second-quarter operating loss, excluding a gain from asset sales, hurt by higher loan loss provisions, mark-to-market impairments and goodwill write-offs. The New...
This paper analyzes intercorporate asset sales where equity is the means of payment and compare the results to cash asset sales. Equity deals are value-enhancing for both buyers, 10%, and sellers, 3%, while cash sales generate seller returns of 1.9% and buyer returns that are not significant. Combined wealth gains...
This article analyzes the market for firms, divisions, and plants of manufacturing firms using a large sample of plant-level data for the period 1974-92. There is an active market for corporate assets, with close to 7 percent of plants changing ownership annually through mergers, acquisitions, and asset sales in peak...
Troubled General Motors has notified two racetracks that run NASCAR events that their current contracts will not be renewed as part of an overall $10 billion cost-cutting program. That seems to be just the first step in what could be a huge drop in support by GM,...
BCSB Bancorp's profit falls BCSB Bancorp Inc., the holding company for Baltimore County Savings Bank FSB, reported net income during its fiscal third quarter ended June 30 of $285,000, or 9 cents per diluted share, compared to net income of $599,000, or 19 cents per diluted share,...
Auctions International Inc. (PINKSHEETS: AUCI),a technology company that owns and markets proprietary software thatenables real time online auctions of virtually any commodity in thewholesale market, has broadened its alliance with NXGen, Inc., a whollyowned subsidiary of NXGen Holdings, Inc. (PINKSHEETS: NXGH). NXGen, Inc. isan emerging data solutions provider that integrates...
Inflazyme Pharmaceuticals Ltd. (NEX: IZP.H) today reported its financial results for the year ended March 31, 2008. Results of operations for the year ended March 31, 2008 The net loss for the year ended March 31, 2008 was $227,000 ($0.00 per common share) compared to a net loss of $15,384,000...
Facing a disastrous slump in sales of its flashy gas guzzling pick-up trucks and sport-utility vehicles, the world's biggest car manufacturer, General Motors, said yesterday that it needs to raise $15bn (7.5bn) by 2009 if it is to weather the storm ahead. It is the second major...
ELK GROVE VILLAGE, Ill. -- ISCO International, Inc. (AMEX:ISO), a leading wireless telecommunications solutions provider, announced today the appointment of Jack Christie as ISCO vice president of sales. ISCO International is a leading supplier of radio frequency management and interference-control solutions for the wireless telecommunications industry. ...
As the heat of summer sets in, we start focusing on our freezers. We open the door and linger a few seconds longer than necessary. Not great for energy consumption, true, but it has led to contemplation about the best way to use this essential kitchen asset. ...
Intrinsyc Software International, Inc. (TSX: ICS), a global wireless software solutions provider, today announced the signing of a multi-year agreement establishing a sales relationship with NAVTEQ, a global leader in premium-quality digital map data. The new Intrinsyc - NAVTEQ agreement will see NAVTEQ map content bundled with Intrinsyc navigation software....
ST. LOUIS -- Electro-Chemical Technologies Ltd. (Pink Sheets: ELCHQ) announced today that Electro-Chemical Technologies Ltd. ("ECT") has sold its assets pursuant to Order of Court in its pending chapter 11 proceeding in the United States Bankruptcy Court, Eastern District of Missouri. The closing of the sale was effective as of...
NEW YORK -- Fitch Ratings expects to assign the following ratings to Merrill Auto Trust Securitization 2008-1: --$67,900,000 class A-1 'F1+'; --$82,200,000 class A-2 'AAA'; --$96,400,000 class A-3 'AAA'; --$62,880,000 class A-4 'AAA'; --$23,384,000 class B 'A+'; --$16,189,000...
First Midwest Bancorp, Inc. (NASDAQ: FMBI) 2nd Quarter Highlights: -- Fully diluted earnings per share for second quarter 2008 were $0.56 versus $0.52 for first quarter 2008. Return on average assets of 1.33% versus 1.25% and return on average equity of 14.57% versus 13.75% were ...
CHICAGO AFP — US auto giant General Motors on Tuesday warned of "significant" losses in the second quarter and unveiled a fresh cost-cutting program to battle slumping sales amid soaring fuel prices. The largest US automaker said it will lay off white collar workers, slash truck and sport...
NEW YORK -- Fitch Ratings has upgraded and removed from Rating Watch Positive the ratings of Aquila, Inc. ILA as follows: --Issuer Default Rating IDR to 'BBB-' from 'BB-'; --Sr. secured to 'BBB' from 'BB+'; --Sr. unsecured to 'BBB-' from 'BB-'. Fitch...
SandRidge Energy officials on Monday said the company will sell properties in east Texas and north Louisiana. Chief Financial Officer Dirk Van Doren said SandRidge intends to sell more than 30,000 acres in east Texas and more than 11,000 acres in Louisiana. SandRidge has...
Acquisition Will Mark the Company's Initial Entry into the European Market. ATLANTA -- WiFiMed Holdings Company, Inc. ("WiFiMed Holdings") (OTCBB: WIFM), whose holdings are leading providers of physician workflow solutions, announced today that it has signed a Memorandum of Understanding to purchase Integrated Telecare Ltd ("i-Telecare") of Hampshire,...
