BUSINESS BRIEFCASE Sep 5, 2008
Old Second Bancorp is the holding company for Old Second National Bank. Old Second Financial Inc. is also a subsidiary of Old Second Bancorp. (DeKalb Daily Chronicle, IL)
Govt to rework method to rate JV FDI Sep 5, 2008
For instance, if a foreign company holds 60% in an Indian company and the holding company has 30% in the sub-holding company, the indirect holding of the foreign investor in the downstream company will be calculated as 18% (60% of 30%). Dipp had earlier proposed 10% as the cut-off limit since Companies Act does not confer ownership rights if the holding is less than 10. (India Times)
Bank of Pittsburgh moves one step closer to launch Sep 5, 2008
3 billion holding company that works with local executives to launch community banks around the country, providing back office services and investment products. It currently has a network of 64 separately chartered banks. (Pittsburgh Business Times, PA)
Cenit Signs Letter of Intent to Acquire All Outstanding Shares of Cycom Canada Corporation Sep 5, 2008
Cenit Corporation is a Canadian holding company which operates subsidiaries in diverse market niches: Blue Port Technologies Inc. (BP), Continental Asset Management Inc. (CAM), and Health Promotions Strategies Inc. (HPSI). BP is a software development company coupled with a recruiting services business; CAM was a vendor of Point of Sale systems which business and customer list were sold as of May 31, 2008; and HPSI was a registered gaming supplier but did not renew its license in early 2008 due... (CCNMatthews Press Releases)
M&I Bank, BankFirst, four others in metro post $1M+ losses in Q2 Sep 5, 2008
BankFirst, headquartered in Minneapolis and part of the holding company, reported a loss of $50 million for the second quarter, adding to its losses of $13. 9 million in the first quarter. (Twin Cities Business Journal, MN)
Mercantil Commercebank of Coral Gables gets $70M infusion Sep 5, 2008
Mercantil Commercebank of Coral Gables said it is receiving $70 million in capital from its holding company, which will help it open two new branches in Palm Beach County and another in Broward County. The bank expects to open the branches in the next six to 12 months. (South Florida Business Journal, FL)
Russia's Oligarchs May Face a Georgian Chill Sep 5, 2008
His holding company, Basic Element, with $27 billion in revenue, has invested in Magna, a Canadian auto parts company. It has purchased large stakes in two construction companies in Austria and Germany and is a large investor in Montenegro. (Atlanta Journal-Constitution -- Business)
Tecmo Picks Koei as Integration Partner, Rejects Square Enix Sep 5, 2008
on Thursday rejected a proposed tender offer by bigger rival Square Enix Co. , saying it has opted for integration with another industry peer Koei Co. (JCN Network, Japan)
Nalco Guidance Updated; Investor Day Webcast Tomorrow Sep 5, 2008
Sept. 4, 2008 (GLOBE NEWSWIRE) -- Nalco Holding Company (NYSE: - ) updated its medium-term earnings guidance in advance of Investor Day presentations tomorrow at its headquarters in Naperville. A Webcast of the presentations will be available through the investor portion of the company's Web site at beginning at 9 a.m. EDT.. (Primezone Releases)
Robert Gates warns of strained US-Russia relations 'for years' after Georgia conflict Sep 5, 2008
The man, the films, those blondes. Free DVD collection starting this Sunday. (Yahoo News -- U.S. Military)
China Cablecom to Attend SIG Second Annual Beijing Management Summit Sep 5, 2008
The Company originally acquired operating rights of the Binzhou Broadcasting network in Binzhou, Shandong Province in September 2007 by entering into a series of asset purchase and services agreements with a company organized by SOEs owned directly or indirectly by local branches of SARFT in five different municipalities to serve as a holding company of the relevant businesses. China Cablecom now operates 22 cable networks with over 1. (Yahoo! Wire -- Entertainment News)
Cathay General Bancorp to Participate at the Lehman Brothers Global Financial Services Conference Sep 4, 2008
ABOUT CATHAY GENERAL BANCORP Cathay General Bancorp is the holding company for Cathay Bank, a California state-chartered bank. Founded in 1962, Cathay Bank offers a wide range of financial services. (PR Newswire)
West Coast Bank Will Join With Other Business Leaders in Sponsoring the Heart of Doernbecher Auction at the Oregon Convention Center October 18, 2008 Sep 4, 2008
For more information, see: West Coast Bancorp, (Nasdaq: ), one of Oregon Business Magazine's 100 Best Companies to Work For, is a Northwest bank holding company with $2. 6 billion in assets, operating 64 offices in Oregon and Washington. (PR Newswire)
Monarch Recognized Second Year Running for Financial Performance With Sandler O'Neill's Sm-All Stars Award Sep 4, 2008
About Monarch Bank Monarch Financial Holdings, Inc. is the one-bank holding company for Monarch Bank. Monarch Bank is a community bank with two offices in Chesapeake, four offices in Virginia Beach, and two offices in Norfolk, Virginia. (PR Newswire)
Uniteds on-time performance improves in July Sep 4, 2008
UAL Corporation (UAL) is a holding company whose principal subsidiary is United Air Lines, Inc. (Uni; Glenn TiltonChairman of the Board, President and Chief Executive Officer of UAL and United Frederic BraceChief Financial Officer and Executive Vice President of UAL and United From The Lists Your resource for everything related to business in Chicago. 12. (Crain's Chicago Business)
Exelon asks NRC to build 2 Texas nukes Sep 4, 2008
Exelon Corporation (Exelon) is a utility services holding company. It operates through its; John RoweChairman of the Board, President, Chief Executive Officer; President of Exelon Generation Matthew HilzingerChief Financial Officer, Senior Vice President; CFO - Generation From The Lists Your resource for everything related to business in Chicago. (Crain's Chicago Business)
Sarah Palin strides out as Republicans Sep 4, 2008
Win a VIP trip to sample the best new emerging fashion talent. Navigation - link to other main sections from here. (Times Online)
American International to buy Shumate unit Sep 4, 2008
The Kemah-based holding company will buy which will become a wholly owned subsidiary called. The deal is scheduled to close Oct. 1. (Houston Business Journal, TX)
> Lender branching out with new H-E-B locations Sep 4, 2008
is a subsidiary of Laredo-based (NASDAQ: IBOC) a multi-bank financial holding company that has $11 billion in assets. The lender s assets in San Antonio total $1. (San Antonio Business Journal, TX)
Alliance Semiconductor prepares its final exit Sep 4, 2008
which has been primarily a holding company since it sold its holdings in in the June quarter, has decided to dissolve and stop filing regulatory reports. Bryant Riley, chairman of the Santa Clara business, said Alliance hopes to pay more cash dividends to shareholders as it dissolves. (San Francisco Business Times, CA)
Healthcare of Today Announces the Acquisition of Professional Respiratory Network Sep 4, 2008
Healthcare of Today is a holding company focused on developing and acquiring vertically-integrated companies primarily within the Healthcare Industry. Through its subsidiaries, Healthcare of Today is engaged in businesses including: nurse staffing, insurance, pharmaceuticals, residential care facilities for the elderly, home healthcare services, home care services, real estate brokerage/relocation services, adult daycare, a private chef network, healthcare information technology, and nurse... (Yahoo News -- Press Releases)
Athens apparel store Steve & Barry's closing Sep 4, 2008
A holding company last week bought Steve and Barry's, which filed for Chapter 11 bankruptcy in July, and will close 106 of the chain's 276 stores. The store at Discover Mills in Lawrenceville is among the 170 stores that will remain open, Brenner said. (Athens Banner-Herald)
Pinnacle ranks No. 1 for on-time performance Sep 4, 2008
Memphis-based Pinnacle Airlines Corp. (NASDAQ: PNCL) is an airline holding company and is the parent company of and It is the largest regional airline operating at. Based in Eagan, Minn. (Memphis Business Journal, TN)
Islamic Bond Decree Cripples Sukuk, Throwing U.A.E. Projects Into Jeopardy Sep 4, 2008
Investment Corp. of Dubai, a state-owned holding company, said last week it was raising $5. 6 billion in a dual-currency loan, while Abu Dhabi National Energy Co., the state-controlled energy company known as Taqa, borrowed $3. (Bloomberg)
...FEC okays N13b contracts Sep 4, 2008
28 billion is for consultancy services for Power Holding Company of Nigeria (PHCN) transmission lines. The contract will be executed by Messrs Fichdner Romelectrol/Dextron. (Guardian News, Nigeria)
Midwest could avoid bankruptcy with $60M financing deal Sep 4, 2008
Timothy Hoeksema, Midwest Airlines chairman and chief executive officer, said in a statement that the financing commitment is from TPG Capital LP and Republic Airways Holdings, an Indianapolis-based airline holding company. He said $40 million of the additional financing has already been funded, with an additional $20 million committed to be funded upon completion of certain milestones in the airline s voluntary restructuring plan, which it has undertaken in recent weeks. (Milwaukee Business Journal, WI)
Eutelsat Update on Technical Performance W5 Satellite Sep 4, 2008
Eutelsat Communications (Euronext Paris: ETL, ISIN code: FR0010221234) is the holding company of Eutelsat S.A.. With capacity commercialised on 24 satellites that provide coverage over the entire European continent, as well as the Middle East, Africa, India and significant parts of Asia and the Americas, Eutelsat is one of the world's three leading satellite operators in terms of revenues. (Yahoo! Wire -- Entertainment News)
PERELMAN TAKES REVLON POWDER Sep 4, 2008
The company announced yesterday that it will use proceeds from the recent sale of its Brazilian cosmetics division and an upcoming stock offering to pay off a 170 million high-interest loan from Perelman's holding company, McAndrews & Forbes. Perelman said he plans 00004000 to buy 61 percent of the shares in the new stock offering, which aims to raise about 107 million. (New York Post -- Business)
Experts from Employers Holdings, Inc. to Address 2008 KBW Insurance Conference in New York Sep 3, 2008
Employers Holdings, Inc. is a holding company with subsidiaries that are specialty providers of workers' compensation insurance and services focused on select, small businesses engaged in low-to-medium hazard industries. The company, through its subsidiaries, operates in 12 states from 11 office locations. (PR Newswire)
LLR, partners, buy Fleet One Sep 3, 2008
The equity fund said Tuesday that it has participated in the buyout of , the holding company for the fuel charge card and fleet management information company, for an undisclosed sum. FTVentures and Fleet One management also participated in the purchase of Fleet One, which had been a subsidiary of Atlanta-based (NYSE:STI). (Philadelphia Business Journal, PA)
UAL reverses decision to cut meals on overseas trips Sep 3, 2008
The response from many of our corporate and Mileage Plus elite customers, even before we launched the test, told us we what we would have undoubtedly learned had we proceeded you value our hot-meal service in economy class for international flights," United said in a letter to passengers. Although many carriers have stopped serving free food on coach domestic flights, customers on long-haul flights have been able to count on being fed. You May Also Like Suggested Searches Sponsored by... (Crain's Chicago Business)
CapGen Shows PacWest The Money Sep 3, 2008
The vehicle plans to register the bank as a holding company. Once the investment has been completed, CapGen principal John Rose will join PacWest's board and the private-equity company will own 12. (Forbes -- Markets)
PUTIN TOPS VANITY FAIR NEW ESTABLISHMENT LIST; MURDOCH NO. 2... Sep 3, 2008
Prince Alwaleed bin Talal, Kingdom Holding Company (new entry) 50. Mike Nichols Sawyer, director; ABC News anchor (42) 51. (The Drudge Report)
Mack Whittle steps down as head of South Financial Group Sep 3, 2008
Under his leadership, South Financial has grown into the 35th largest commercial bank holding company by assets in the United States with nearly $14 billion in total assets and 180 branch offices in North Carolina, South Carolina and Florida. Mercantile Bank is the 12th largest bank in the Tampa Bay area, based on deposit market share, with 18 offices and $778 million in deposits, according to the most recent information available from the. (Tampa Bay Business Journal, FL)
Tampa Electric expects 22.8 percent jump in 2009 home bill Sep 3, 2008
Tampa Electric serves about 667,000 customers in west central Florida and is the principal subsidiary of (NYSE: TE), an energy-related holding company. Reader Comments. (Tampa Bay Business Journal, FL)
IBC Bank adds BlackBerry to list of mobile banking devices Sep 3, 2008
IBC Bank is owned by Laredo-based (NASDAQ: IBOC), an $11 billion multi-bank financial holding company with more than 260 facilities and more than 415 ATMs across Texas and Oklahoma, including San Antonio. Reader Comments. (San Antonio Business Journal, TX)
Buffett's $48bn donation deadline Sep 3, 2008
The world's second-richest man revealed last year that five charitable foundations would gain from his shares in holding company Berkshire Hathaway. Mr Buffett told Berkshire shareholders on Thursday he wanted proceeds from his stock given to charities "within 10 years after my estate is closed". (Yahoo News -- Philanthropy and Volunteerism)
Around Madison: Dedication service set Sep 3, 2008
4 billion in assets, Winston-Salem, N.C.-based BB&T Corp. is the nation's 14th largest financial holding company. It operates nearly 1,500 financial centers in 11 states and Washington. (Athens Banner-Herald)
Thomas Bata, 'Shoemaker to the World,' Dies at 93 Sep 3, 2008
A complex holding company structure, however, meant that the Bata family still controlled substantial assets. While the company invested in developing the Canadian business as well as in rebuilding traditional markets in Western Europe, its greatest success came in regions where factory-made shoes had made few inroads. (Atlanta Journal-Constitution -- Business)
American International Industries, Inc. Announces Definitive Asset Purchase Agreement With Shumate Industries, Inc. to Acquire Shumate Machine Works, An Energy Related Company Sep 3, 2008
American International Industries, Inc. is a diversified holding company, with a business model similar to General Electric, Tyco International, and Berkshire Hathaway ... The holding company serves as a financial and professional partner to the management of the subsidiaries ... The role of the holding company is to improve each subsidiary's access to capital, achieve economies of scale by consolidating administrative functions, and utilize the financial and management expertise of corporate... (Primezone Releases)
Adams National Bank CEO resigns Sep 3, 2008
Abigail Adams National Bancorp is a two-bank holding company, majority owned and operated by women. The company operates in the D.C. and Richmond areas. (Washington Business Journal, DC)
M&F will give Metropolitan indigestion, warn analysts Sep 3, 2008
Business Report - M give Metropolitan indigestion, warn analysts. Online Edition Powered By IOL. (Business Report, South Africa)
Money Flowing into English Soccer Sep 3, 2008
Instead, City fans had plenty of reason to cheer even as United shelled out $56 million for the Bulgarian: Manchester City was bought by an Abu Dhabi holding company, which pumped so much cash into the franchise that City was able to make an audacious last-minute bid for Berbatov and then topped that by spending a British record of $59 million to sign Brazilian striker Robinho, from Spain's Real Madrid ... The dramatic reversal in the (literal) fortunes of Manchester City came when Abu Dhabi... (Time.com)
Virtual Image Technology moves jobs back Sep 3, 2008
McQueen and his brother, Scott, purchased Virtual Image late last year through their holding company, DSCS Holdings LLC.. Terms of the deal were not disclosed. (Charlotte Business Journal, NC)
Korea Development's Min Confirms Talks With Lehman (Update1) Sep 2, 2008
Korea Development is set to be privatized, with the government planning to sell a 49 percent stake in a holding company to be set up for KDB and its three affiliates by 2010. The remaining 51 percent would be sold by 2012. (Bloomberg)
Ecometals Exploration Update Brazil Sep 2, 2008
" The Company intends to sign a diamond drilling contract with Greiphil Minas Ltda. to undertake a 2000 m program designed to test several zones of outcropping iron mineralization and high priority magnetic anomalies. The program is expected to start in late September and will comprise 15-20 short angled holes. The Matapi iron prospects are located 90 km north-northwest of the capital city of Macapa in the State of Amapa. The logistics in the Matapi area are excellent with close access to the... (Canada Newswire)
Sarah Palin reveals teenage daughter is Sep 2, 2008
Win tickets to this sell-out event. Festival fun and fancy dress. (Times Online)
Analyst: BB&T ripe for merger Sep 2, 2008
Headquartered in Winston Salem, N.C., BB&T is the nation's 14th largest financial holding company with $132. 6 billion in assets. (Nashville Business Journal, TN)
Vodafone warns 40m will switch off on EU changes Sep 2, 2008
Vodafone warns 40m will switch off on EU changes - Times Online. Win tickets to this sell-out event. (Times Online)
Tillery to mark 60th birthday with pair of shows Sep 2, 2008
She was one of four big-voiced women fronting bands on the local rock circuit, the others being Tracy Nelson with Mother Earth, Lydia Pense with Cold Blood and Janis Joplin with Big Brother and the Holding Company ... She recalls one of the Loading Zone's first gigs at the Fillmore, opening for Big Brother and the Holding Company in early 1968. (San Francisco Chronicle)
Hallmark Financial Services, Inc. Acquires 80 Percent of Heath XS, LLC Sep 2, 2008
The transaction was completed using existing holding company capital ... Hallmark Financial Services, Inc. is an insurance holding company which, through its subsidiaries, engages in the sale of property/casualty insurance products to businesses and individuals. (Primezone Releases)
Team Financial, Inc. Announces CEO Resignation Sep 2, 2008
Team Financial, Inc. is a bank holding company with $807 million in total assets. It is publicly traded and listed on the NASDAQ under the symbol of TFIN. It operates in the Kansas City metropolitan area, southeastern Kansas, western Missouri, the Omaha, Nebraska metropolitan area and in Colorado Springs, Colorado. (Primezone Releases)
Wilshire Bancorp Declares Cash Dividend Sep 2, 2008
LOS ANGELES, Sept. 2, 2008 (GLOBE NEWSWIRE) -- Wilshire Bancorp, Inc. (NasdaqGS: - ), the holding company for Wilshire State Bank, announced today that its Board of Directors has declared a cash dividend of $0. 05 per common share. (Primezone Releases)
Motsepe's mining assets outshine Sexwale's Sep 2, 2008
Analysts yesterday attributed that difference in market value growth to the commodities that ARM had invested in as well as the fact that it operated its assets, whereas Mvelaphanda was an investment holding company ... Mvelaphanda was a holding company, while ARM was an operating company, he added ... Until recently, Mvelaphanda had only been an investment holding company. (Business Report, South Africa)
Graham Harrell, T.J. Lee, Jeremy Maclin and Shun White Announced as Week One Nominees for the AT&T All-America Player of the Week Award Sep 1, 2008
Graham Harrell, T.J. Lee, Jeremy Maclin and Shun White Announced as Week One Nominees for the ATAmerica Player of the Week Award. Graham Harrell, T.J. Lee, Jeremy Maclin and Shun White Announced as Week One Nominees for the ATAmerica Player of the Week Award. (PR Newswire)
Allstate gets ready for Hurricane Gustav Sep 1, 2008
The Allstate Corporation serves as the holding company for Allstate Insurance Company. The Companys; Thomas WilsonChairman of the Board, President, Chief Executive Officer Don CivginChief Financial Officer, Senior Vice President From The Lists Your resource for everything related to business in Chicago. (Crain's Chicago Business)
Mizuho Financial Launches In-House Day-Care Facility Sep 1, 2008
opened an in-house day-care facility at its head office in Tokyo's Chiyoda Ward on Monday (JCN Network, Japan)
House prices slide as average deal yields 90% of asking price Sep 1, 2008
"However, with ever growing uncertainty amongst households over the broader economic outlook the current re-pricing of housing still has some way to run. Have your say Please note the maximum number of characters is 300. * Name * Email * Town Country * Required Remember me Also in Property ages Also in Money Money Central Reader guides Competition Easy cash to put towards your savings and investments Money Central Reader guides Step one: read Times Money's essential checklist Mortgages Tax Most... (Times Online)
Delek Group Announces Consolidated Results for the Second Quarter and First Six Months of 2008 Aug 31, 2008
-- Delek Investments and Properties, a holding company with subsidiaries in the energy, infrastructure, automotive, finance and media sectors. -- Delek Real Estate, through its subsidiaries Dankner and Delek Belron Investments, owns and manages prime global real-estate investments. (PR Newswire)
Spreading the Word From the 2008 Democratic National Convention Aug 31, 2008
About AT AT (NYSE: ) is a premier communications holding company. Its subsidiaries and affiliates, ATating companies, are the providers of ATices in the United States and around the world. (PR Newswire)
Pinning Chicago's hopes on Obama Aug 31, 2008
"Without question, to have the president of the United States come from the city where your company is headquartered is a huge plus for any business in Chicago," says Terrence Duffy, chairman of CME Group Inc., the holding company for Chicago's futures exchanges. Especially for a heavily regulated business like futures trading, "it's always a plus to have the administration understand the business," he adds, "and I think Sen. Obama understands our business.". (Crain's Chicago Business)
Master appointed CEO at Franklin Bank Aug 31, 2008
Master was appointed president of the Houston bank holding company in May, and will retain that role. He replaces Lewis Ranieri who has been acting as interim CEO since May. (Houston Business Journal, TX)
Robert Gates warns of strained US-Russia relations 'for years' after Georgia conflict Aug 31, 2008
Win luxury hampers plus Waitrose vouchers & guidebooks. Navigation - link to other main sections from here. (Yahoo News -- U.S. Military)
North Central Bancshares, Inc. Declares Dividend Aug 30, 2008
FORT DODGE, Iowa, Aug. 29 /PRNewswire-FirstCall/ -- North Central Bancshares, Inc. (the "Company") (Nasdaq: ), the holding company for First Federal Savings Bank of Iowa (the "Bank") announced today that the Company's Board of Directors declared a cash dividend of $0. 01 per share on its common stock to be paid on October 6, 2008 to shareholders of record as of September 15, 2008. (PR Newswire)
Innophos Holdings Obtains Favorable Mexican Court Decision on Water Taxes Aug 30, 2008
About Innophos Holdings, Inc. Innophos Holdings, Inc. ), the holding company for a leading North American manufacturer of specialty phosphates, serves a diverse range of customers across multiple applications, geographies and channels. Innophos offers a broad suite of products used in a wide variety of food and beverage, consumer products, pharmaceutical and industrial applications. (PR Newswire)
