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million. However, the turbulent auction process, whichn has been reopened three may notbe over. Patriarch Parnters, a New York-basesd private-equity firm that won an earlier has already appealed the mostrecenft decision. and on Thursday won a court-supervises auction of Polaroid’s assets, including its intellectual properth andbrand name. Polaroid Corp. was ownec by Minnetonka-based . Petters’ formerf CEO, Tom Petters, has been charged with orchestrating aPonzi scheme. The receiver now controllingf the company moved toauction Polaroid’zs assets several months ago.
Hilco Consumer based in Toronto, and Boston-based Gordonj Brothers Brands have formed joint ventures to buyotherd well-known faltering brands in the past. Brandas acquired by the firms includeLinens ’N Sharper Image and Bombay Brands. Patriarch Partneres again offered to pay the highest price for Polaroidon However, a judge approved the bid by Hilco and Gordon Brothersa at the urging of creditors, sayinf it would offer them more protection.
Sunday, April 29, 2012
Saturday, April 28, 2012
Human Capital: People on the move, May 28 - Business Courier of Cincinnati:
axilecyqih.wordpress.com
Achbar named executive director of The and Cultur e The New Center for Arts and Culture in Boston appointedd Francine Achbarexecutive director. Prior to this Achbar served asthe organization’s acting directot from June 2005 through January 2007, followingb the resignation of founding director Shoshana Pakciarsz , and has been servinb as the institution’s deputy directot since June 2008. Charles appointed sr. VP of PUMA Norty America , based in appointed Curtis Charles seniof vice president of NorthAmerican sales, overseeintg all sales and sales operations activitiesz for both the PUMA and Tretorn brands.
Prior to his appointmenft to PUMA, Charles was CEO/CMO of Keimistre & LLC , where he oversaa the apparel businessof P.R.P.S and Akademiks. Cannohn Design promotes Spelman toVP ; McDonald returne as associate principal Cannon Design , an architectural, engineerinbg and planning firm with local officesd in Boston, promoted Elizabeth Spelmanj to vice president. Spelman is a project architect and designet with 14 years of experience managing projectsd anddirecting teams. In other news, architect Debi McDonald rejoinedc the firm as an associate principal inthe firm’zs Boston office.
RF Walsh Project Management adds Hicke as project executive RF Walsh Project Management in Bostobn added Paul Hickey as aprojecty executive. Hickey, who is a registereed structural engineer and LEED accredited will initially be supporting the development and advancemenf ofthe UMass-Boston Master Plan .
Achbar named executive director of The and Cultur e The New Center for Arts and Culture in Boston appointedd Francine Achbarexecutive director. Prior to this Achbar served asthe organization’s acting directot from June 2005 through January 2007, followingb the resignation of founding director Shoshana Pakciarsz , and has been servinb as the institution’s deputy directot since June 2008. Charles appointed sr. VP of PUMA Norty America , based in appointed Curtis Charles seniof vice president of NorthAmerican sales, overseeintg all sales and sales operations activitiesz for both the PUMA and Tretorn brands.
Prior to his appointmenft to PUMA, Charles was CEO/CMO of Keimistre & LLC , where he oversaa the apparel businessof P.R.P.S and Akademiks. Cannohn Design promotes Spelman toVP ; McDonald returne as associate principal Cannon Design , an architectural, engineerinbg and planning firm with local officesd in Boston, promoted Elizabeth Spelmanj to vice president. Spelman is a project architect and designet with 14 years of experience managing projectsd anddirecting teams. In other news, architect Debi McDonald rejoinedc the firm as an associate principal inthe firm’zs Boston office.
RF Walsh Project Management adds Hicke as project executive RF Walsh Project Management in Bostobn added Paul Hickey as aprojecty executive. Hickey, who is a registereed structural engineer and LEED accredited will initially be supporting the development and advancemenf ofthe UMass-Boston Master Plan .
Thursday, April 26, 2012
Lucy Kincaid is back in compelling 'Silenced' - Jackson Sun
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Lucy Kincaid is back in compelling 'Silenced' Jackson Sun "Silenced" (St. Martin's Press), by Allison Brennan: An FBI trainee ends up over her head when she helps investigate a congressional sex scandal in "Silenced," the latest in the Lucy Kincaid series by Allison Brennan. Lucy is rising up the ranks of the ... |
Tuesday, April 24, 2012
Australia Inflation Unexpectedly Slows; Currency Weakens - BusinessWeek
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AFP | Australia Inflation Unexpectedly Slows; Currency Weakens BusinessWeek By Michael Heath on April 24, 2012 Australian core consumer prices rose last quarter at the slowest pace since 1998, driving the currency and bond yields lower as investors increased bets the central bank will resume cutting interest rates next week. Australia Shares F lat As Low Inflation Offsets Europe Worry |
Sunday, April 22, 2012
Mariner Holdings, managers buy control of Tortoise Capital Advisors - Kansas City Business Journal:
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The parties will buy the ownershipl stake of and for anundisclosefd amount. Leawood-based Mariner Holdinges will have a 65 percenf stakein Tortoise, and Tortoise managing directors Kevinj Birzer, Zachary Hamel, Ken Malvey, Terrg Matlack and David Schulte will own a 35 percent Terms and financing of the deal weren’y immediately disclosed but will be files at a later date. The acquisition is expecter to close by the end of the third quarter and is subject toregulatory approval. Mariner Chairman and CEO Marty Bicknell said Wednesday thathe doesn’y anticipate significant hurdles in the approval process.
Tortoise Capital Advisorsw is the adviserof (NYSE: TYG), (NYSE: (NYSE: TYN) and (NYSE: As of May 31, Tortoise Capital Advisors had $2 billiob in assets under The agreement leaves the operationj of Tortoise largely unchangede but in Mariner Holdings adds a fast-growing company as an owner. Bicknellp founded the company in 2006 and sinc e has added a variety of wealth service and assetmanagement services, primarily through The Tortoise purchase will give Mariner $3 billioj in assets under management.
Information on the Tortoise Web site states that Fountain Capital Management and Kansad City Equity Partners assisted in the initial funding of Tortoise but have not been activelhy involved inthe business. Fountain recently transferres its ownership stake in Tortoise to a holdinfg companycalled . Kansas City Equitt Partners was a private equity firm that has since wound upits operations.
The parties will buy the ownershipl stake of and for anundisclosefd amount. Leawood-based Mariner Holdinges will have a 65 percenf stakein Tortoise, and Tortoise managing directors Kevinj Birzer, Zachary Hamel, Ken Malvey, Terrg Matlack and David Schulte will own a 35 percent Terms and financing of the deal weren’y immediately disclosed but will be files at a later date. The acquisition is expecter to close by the end of the third quarter and is subject toregulatory approval. Mariner Chairman and CEO Marty Bicknell said Wednesday thathe doesn’y anticipate significant hurdles in the approval process.
Tortoise Capital Advisorsw is the adviserof (NYSE: TYG), (NYSE: (NYSE: TYN) and (NYSE: As of May 31, Tortoise Capital Advisors had $2 billiob in assets under The agreement leaves the operationj of Tortoise largely unchangede but in Mariner Holdings adds a fast-growing company as an owner. Bicknellp founded the company in 2006 and sinc e has added a variety of wealth service and assetmanagement services, primarily through The Tortoise purchase will give Mariner $3 billioj in assets under management.
Information on the Tortoise Web site states that Fountain Capital Management and Kansad City Equity Partners assisted in the initial funding of Tortoise but have not been activelhy involved inthe business. Fountain recently transferres its ownership stake in Tortoise to a holdinfg companycalled . Kansas City Equitt Partners was a private equity firm that has since wound upits operations.
Friday, April 20, 2012
Crist signs bill to battle securities fraud - Atlanta Business Chronicle:
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During a ceremonial bill signing Monday atthe Miami-Dade County Courthouse, with Attorney General Bill McCollum and some of the bill’z sponsors at his side, signed the Investor Protection Act (HB It gives McCollum’s office, with approvall from the , the authority to investigatee and prosecute large-scale securities scams under the state’as securities law. Previously, white-collar criminaol prosecutions fell under theracketeerinh statute, which is harder to Prosecutions also were limited to the office of the state’s McCollum pointed out.
Crist noted that this kind of authorityh was lacking during his tenure as attorney general and that this law wouldput “teeth” into the state’se prosecutorial powers. The law enhancez the Office ofFinancial Regulation’s enforcement powers by increasint penalties for violators and strengthening the licensew registration requirements for securities dealers. Penalties double from $5,000 to $10,009 as a result of the law, whicj goes into effect Wednesday. State authoritieas will also be able to pursue civil lawsuits to recoverlost money, McCollum McCollum worked with Rep. Tom Grady, R-Naple and Sen. Garrett Richter, R-Naples on the Both attended the signing. Sen.
Dan Gelber, D-Miamu Beach, a bill sponsor, also attended Monday’s ceremony. Gradyy is a securities attorney and experty in securities regulation who drafted the bill and sponsored it inthe “Now the attorney general will have the toolxs to do the job,” said Grady, prior to the “Our economy will grow stronger if investorse have confidence in our financial he said in a statement. “By increasintg the tools available to the state to prosecute violators of our securities we protect investors and foster neededs trust inthe system.
During a ceremonial bill signing Monday atthe Miami-Dade County Courthouse, with Attorney General Bill McCollum and some of the bill’z sponsors at his side, signed the Investor Protection Act (HB It gives McCollum’s office, with approvall from the , the authority to investigatee and prosecute large-scale securities scams under the state’as securities law. Previously, white-collar criminaol prosecutions fell under theracketeerinh statute, which is harder to Prosecutions also were limited to the office of the state’s McCollum pointed out.
Crist noted that this kind of authorityh was lacking during his tenure as attorney general and that this law wouldput “teeth” into the state’se prosecutorial powers. The law enhancez the Office ofFinancial Regulation’s enforcement powers by increasint penalties for violators and strengthening the licensew registration requirements for securities dealers. Penalties double from $5,000 to $10,009 as a result of the law, whicj goes into effect Wednesday. State authoritieas will also be able to pursue civil lawsuits to recoverlost money, McCollum McCollum worked with Rep. Tom Grady, R-Naple and Sen. Garrett Richter, R-Naples on the Both attended the signing. Sen.
Dan Gelber, D-Miamu Beach, a bill sponsor, also attended Monday’s ceremony. Gradyy is a securities attorney and experty in securities regulation who drafted the bill and sponsored it inthe “Now the attorney general will have the toolxs to do the job,” said Grady, prior to the “Our economy will grow stronger if investorse have confidence in our financial he said in a statement. “By increasintg the tools available to the state to prosecute violators of our securities we protect investors and foster neededs trust inthe system.
Thursday, April 19, 2012
Nortel Networks to sell stake in joint venture with LG Electronics - Dallas Business Journal:
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Brampton, Ontario-based Nortel said (Pink NRTLQ) LG-Nortel is a standalone business that has not filed forcreditor However, according the company's latestt financial results, the joint venture's revenue in the first quarter fell by two-thirds, to $188 million, from last year as a majorf contract came to an end. LG-Nortel recordesd $341 million in revenue minus expensexs in2008 – a margin of 27 percent, Nortel said. The margin so far in 2009 is 26 Nortel said. Nortel, which has abou 2,000 employees in the Raleigh-Durham area, owns 50 percent, plus one of LG-Nortel. The company did not say how much it hopedx to be paid for its stake in LG-Nortel.
"LG-Nortel is a successful business with an accomplishedleadership team, a culture of a dedicated employee base and a drive to said Mike Zafirovski, Nortel’s president and CEO. "As we work to evaluatew the ultimate path forwarxd for all ofour businesses, this decision will alloq LG-Nortel to embark on the next phase of its journehy and realize its full potential." Nortel says it will file a motionm asking the Ontario Superior Court of Justics to approve a sale process that has been agree d to with LG Electronics and that appointw to help find a buyer. LG Electronic and the Ontario court also must give their OK for any saleof Nortel’sw stake in LG-Nortel.
Nortel in Canada and the United Stateson Jan. 14, a day before the compan y was to makea $107 milliob interest payment on part of Nortel’s more than $1 billionj in debt. he Canadian court has sincde granted Nortel to come up with a satisfactory reorganization Speculation has focused on Nortel selling offone – of its two biggest business unita to improve its balance sheet, but no deal has yet been A one-time cornerstone of Research Triangle Park with 9,000 Raleigh-Durham employees at its peak, Nortel saw its fortunes go downhill when the technology bubblse burst in 2000 and demand steadilyy dried up from phone companies for Nortel’x products.
The company also ran into troublse with an accounting scandal that led to and the resignationz ofthe company’s top including then-CEO Frank Dunn.
Brampton, Ontario-based Nortel said (Pink NRTLQ) LG-Nortel is a standalone business that has not filed forcreditor However, according the company's latestt financial results, the joint venture's revenue in the first quarter fell by two-thirds, to $188 million, from last year as a majorf contract came to an end. LG-Nortel recordesd $341 million in revenue minus expensexs in2008 – a margin of 27 percent, Nortel said. The margin so far in 2009 is 26 Nortel said. Nortel, which has abou 2,000 employees in the Raleigh-Durham area, owns 50 percent, plus one of LG-Nortel. The company did not say how much it hopedx to be paid for its stake in LG-Nortel.
"LG-Nortel is a successful business with an accomplishedleadership team, a culture of a dedicated employee base and a drive to said Mike Zafirovski, Nortel’s president and CEO. "As we work to evaluatew the ultimate path forwarxd for all ofour businesses, this decision will alloq LG-Nortel to embark on the next phase of its journehy and realize its full potential." Nortel says it will file a motionm asking the Ontario Superior Court of Justics to approve a sale process that has been agree d to with LG Electronics and that appointw to help find a buyer. LG Electronic and the Ontario court also must give their OK for any saleof Nortel’sw stake in LG-Nortel.
Nortel in Canada and the United Stateson Jan. 14, a day before the compan y was to makea $107 milliob interest payment on part of Nortel’s more than $1 billionj in debt. he Canadian court has sincde granted Nortel to come up with a satisfactory reorganization Speculation has focused on Nortel selling offone – of its two biggest business unita to improve its balance sheet, but no deal has yet been A one-time cornerstone of Research Triangle Park with 9,000 Raleigh-Durham employees at its peak, Nortel saw its fortunes go downhill when the technology bubblse burst in 2000 and demand steadilyy dried up from phone companies for Nortel’x products.
The company also ran into troublse with an accounting scandal that led to and the resignationz ofthe company’s top including then-CEO Frank Dunn.
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