Commercial lending giant CIT files bankruptcy Nov 3, 2009
CIT's move will wipe out current holders of its common and preferred stock, likely meaning the U.S. government will lose the $2. 3 billion it sunk into CIT last year to prop up the ailing company. (MSNBC -- Business)
iMergent Reports Fiscal First Quarter 2010 Financial Results -- Correction Nov 3, 2009
Steven G. Mihaylo, Chief Executive Officer of iMergent, stated, "We are pleased with these results, particularly since the first fiscal quarter is typically our slowest quarter of the year. The fiscal first quarter normally includes seasonal weakness due to summer vacations which inhibit our ability to conduct events during the first several weeks of July. Our cost saving initiatives and cost controls continue to improve which were instrumental in enabling us to obtain profitability in our first... (Primezone Releases)
Energy XXI Reports Fiscal First-Quarter Results and Provides Operational Update Nov 3, 2009
52 Weighted Average Number of Common Stock Outstanding Basic 145,755 144,783 Diluted 145,755 144,783 ENERGY XXI (BERMUDA) LIMITED CONSOLIDATED BALANCE SHEETS (In Thousands, except share information) Sept. 30, June 30, 2009 2009 ----------------------- ASSETS (Unaudited) Current Assets Cash and cash equivalents $ 107,301 $ 88,925 Restricted cash 526 -- Accounts receivable Oil and natural gas sales 29,964 40,087 Joint interest billings 16,642 17,624 Insurance and other 47,004 2,562 Prepaid... (Primezone Releases)
CIT Group goes bankrupt Nov 2, 2009
CIT's move will wipe out current holders of its common and preferred stock, likely meaning the U.S. government will lose the $2 ... CIT's move will wipe out current holders of its common and preferred stock, likely meaning the U.S. government will lose the $2. (New York Post -- Business)
CIT Files for Bankruptcy; U.S. Is Unlikely to Recoup $2.3 Billion Bailout Nov 2, 2009
Shareholders may be wiped out as common and preferred stock is likely to be canceled when the company ends its reorganization ... CIT had said in its Oct. 2 outline of a prepackaged plan that it would give most noteholders new notes at 70 cents on the dollar plus new common stock, compared with the range of 70 cents to 90 cents and new preferred stock proposed in the exchange offer ... 3 billion from the Treasury on Dec. 31, giving the U.S. preferred stock and warrants. (Bloomberg -- US)
Feds seize parent of San Diego National Nov 1, 2009
Owned by Chicago billionaire Mike Kelly, FBOP became troubled after purchasing preferred stock in the quasi-governmental mortgage lenders Fannie Mae and Freddie Mac. It owned about $850 million in Fannie and Freddie preferred shares, which became worthless after the federal government took over the mortgage giants late last year. (San Diego Union-Tribune)
West Coast Bancorp receives cease and desist order, raises $155M Nov 1, 2009
But he also forecast that the bank s issuance of preferred stock will allow West Coast Bank to begin lending after a long period of retrenchment ... Investors purchased preferred stock that can be converted to 77. (The Business Journal of Portland, OR)
Studio featured on 'Queer Eye' ready to sell its shares Nov 1, 2009
Its filing with the Securities and Exchange Commission placed the authorized share volume at 30 million shares of common stock and 10 million shares of preferred stock at undisclosed values. The planned IPO "is something we've been working toward. We're excited about our potential," Chief Financial Officer David Barnard said. (Yahoo News -- Queer Eye for the Straight Guy)
Studio featured on 'Queer Eye' ready to sell its shares Oct 31, 2009
Its filing with the Securities and Exchange Commission placed the authorized share volume at 30 million shares of common stock and 10 million shares of preferred stock at undisclosed values. The planned IPO "is something we've been working toward. We're excited about our potential," Chief Financial Officer David Barnard said. (Yahoo News -- Queer Eye for the Straight Guy)
The Washington Post Company Reports Third Quarter Earnings Oct 31, 2009
Redeemable preferred stock dividends ... Redeemable preferred stock dividends. (Yahoo! Wire -- Entertainment News)
Valley Commerce Bancorp posts higher profit Oct 31, 2009
Per-share income is down from 54 cents a share, mostly because of dividends paid for shares of preferred stock bought by the U.S. Treasury under the Capital Purchase Program. A few rules are needed to help foster a feeling of community. (Fresno Bee)
Albina Community Bancorp Reports First Quarter Loss; Pre-Tax, Pre-Provision Earnings Increase 72% Oct 31, 2009
Albina Community Bancorp Balance Sheet (Dollars in thousands) As of the Date Ended ---------------------------------------- Sept. 30, June 30, Sept. 30, Annual 2009 2009 2008 %Change ---------------------------------------- (unaudited)(unaudited)(unaudited) ASSETS Cash and due from banks $ 469 $ 434 $ 496 -6% Interest-bearing deposits 12,616 7,596 4,074 210% Federal funds sold 94 121 8,698 -99% ------------------------------- Total cash and cash equivalents 13,179 8,151 13,268 -1% Time deposits... (Primezone Releases)
EDCI Holdings, Inc. Announces 3Q2009 and YTD 3Q2009 Results Oct 31, 2009
EDCI HOLDINGS, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS September 30, December 31, 2009 2008 (unaudited) ----------- ----------- (In thousands, ASSETS except share data) Current Assets: Cash and cash equivalents $78,357 $75,112 Restricted cash 2,452 7,258 Accounts receivable, net of allowances for doubtful accounts of $2,913 and $3,008 for September 30, 2009 and December 31, 2008, respectively 14,541 19,129 Current portion of long-term receivable 1,256 599 Inventories, net 6,424 4,845... (Yahoo! Wire -- Entertainment News)
Puget Sound Bank Posts Record Profits; Earnings More Than Triple in 3Q09 Oct 31, 2009
11 (1) Includes preferred stock dividends and warrants expense not included in net income. (2) The efficiency ratio is calculated by dividing total noninterest expense by total revenue, so a lower number is generally better. (Primezone Releases)
FBOP fails, U.S. Bancorp buys Oct 31, 2009
The failure of the Oak Park-based bank brings to a close a drama that began more than a year ago, when the federal government seized mortgage giants Fannie Mae and Freddie Mac during the height of the financial panic, wiping out more than $800 million in Fannie and Freddie preferred stock held by FBOP. That put the $18. 6-billion-asset bank holding company, owned solely by CEO , into a capital hole it couldnt fill. (Crain's Chicago Business)
Syntroleum Announces Third Quarter 2009 Financial Results Oct 31, 2009
SYNTROLEUM CORPORATION AND SUBSIDIARIES UNAUDITED CONSOLIDATED BALANCE SHEETS (in thousands) Sept. 30, Dec. 31, 2009 2008 -------- -------- ASSETS CURRENT ASSETS: Cash and cash equivalents $ 15,162 $ 10,101 Restricted cash 502 -- Accounts receivable 6,585 517 Other current assets 212 272 -------- -------- Total current assets 22,461 10,890 PROPERTY AND EQUIPMENT - at cost, net 174 187 INVESTMENT IN DYNAMIC FUELS, LLC 19,473 17,486 OTHER ASSETS, net 10,246 10,275 -------- -------- $ 52,354 $... (Primezone Releases)
Bank of Virginia Announces Third Quarter 2009 Earnings Oct 31, 2009
71% BANK OF VIRGINIA Balance Sheets September 30, December 31, 2009 2008 Unaudited Audited ------------- ------------- Assets Cash and due from banks $ 3,204,538 $ 2,608,500 Federal funds sold and interest- bearing balances with banks 4,177,664 42,194 ------------- ------------- 7,382,202 2,650,694 Securities available for sale, at fair market value 44,010,046 39,474,175 Restricted securities 1,531,200 1,534,550 Loans, net of allowance for loan losses of $4,476,947 in 2009 and $2,942,988 in 2008... (Primezone Releases)
Otter Tail Corporation Announces Third Quarter Earnings; Board of Directors Declares Dividend Oct 30, 2009
The Board also declared quarterly dividends on the corporation's four series of preferred stock, payable December 1, 2009, to shareholders of record on November 13, 2009 ... We are committed to maintaining a strong balance sheet and an appropriate cost structure that provide Otter Tail Corporation with significant financial flexibility," said Moug. Segment Performance Summary Electric Electric revenues and net income were $73.6 million and $9.5 million, respectively, for the quarter ended... (Primezone Releases)
Capital plan: Bay Cities Bank launches new offering Oct 30, 2009
45 percent dividend paid on the preferred stock and warrants issued to the Treasury in return for TARP funding is cheap capital and complying with TARP requirements has not been a burden to this point. Bay Cities was told only to use the funds to cushion against losses and to make loans, and it has done both, Bryant said. (Tampa Bay Business Journal, FL)
> BANKING UPDATE: Court clears CIB Marine reorganization plan Oct 30, 2009
The plan involves exchanging shares of the holding company s preferred stock for the debentures issued by the holding company in conjunction with its trust preferred securities offerings ... This summer, the company proposed a plan to reduce expenses, lessen debt and strengthen the company by effectively converting debt issued in conjunction with its trust preferred securities offerings into equity in the form of its non-cumulative perpetual preferred stock. (Milwaukee Business Journal, WI)
Tower Financial Corporation Reports Third Quarter Results Oct 30, 2009
8 million capital raise from the sale of Series A Convertible Preferred Stock as previously disclosed in our Form 8k filing on September 28, 2009, and an increase of $1 ... 8 million in convertible preferred stock sold to insiders and previously disclosed in our 8k filing of September 28, 2009 ... Tower Financial Corporation Consolidated Balance Sheets At September 30, 2009 and December 31, 2008 (unaudited) (unaudited) September 30 December 31 2009 2008... (Primezone Releases)
PVF Capital Corp. Announces Quarterly Earnings Oct 30, 2009
In the three-month period ended September 30, 2008, the Company recorded an impairment loss on FHLMC and FNMA preferred stock totaling $1. 7 million. (Primezone Releases)
Las Vegas Sands Corp. Reports Third Quarter 2009 Results Oct 30, 2009
8 million reflects the increase in income tax expense, which included the recording of a valuation allowance during the quarter on certain of our United States deferred tax assets, as well as increases in preferred stock dividends and accretion on preferred stock, partially offset by an increase in operating income ... In fact, we put more future group room nights on the books this quarter than we have during any other 90-day period in our history," stated Leven.The following table summarizes... (Yahoo! Wire -- Entertainment News)
Las Vegas Sands Corp. Declares Quarterly Dividend on Preferred Stock Oct 30, 2009
50 per share on its 10% Series A Cumulative Perpetual Preferred Stock to stockholders of record at the close of business on October 30, 2009. The dividend payment will be made on November 16, 2009, the first business day following the November 15, 2009 dividend payment date specified in the Certificate of Designations for the preferred stock. (Yahoo! Wire -- Entertainment News)
Peoples Bancorp earnings drop Oct 29, 2009
After adjusting for $348,000 in dividends and accretion on preferred stock, the company experienced a net loss of $48,000, or 1 cent per diluted share. The company attributes the decrease in earnings to a higher provision for loan losses and lower net interest income. (Charlotte Business Journal, NC)
Treasury, GMAC in talks for more aid Oct 29, 2009
The latest capital infusion would be in the form of preferred stock, the paper said. The government's stake could rise if the new preferred shares were ever converted into common stock. (MSNBC -- Business)
Stock questions? Ask Matt Oct 29, 2009
Preferred stock: Finding the ticker symbol is easy - USATODAY.com ... Preferred stock: Finding the ticker symbol is easy ... Q: How can I find symbols for preferred stocks like Ford. (USA Today -- Money)
M&I raises $863 million in offering Oct 28, 2009
M&I also may use a portion of the proceeds to repurchase debt, including a portion of its senior preferred stock, Series B, which consists of $1. 7 billion in TARP funds the bank received in November 2008 through the U.S. Treasury Department through the Troubled Asset Relief Program (TARP). (Milwaukee Business Journal, WI)
Double-Take Software 3Q profit slides on sales Oct 28, 2009
6 million payment related to the repurchase of preferred stock. The company, which makes software for retailers to manage their inventories, said it lost $2. (Fresno Bee -- Business)
GMAC, Treasury in Talks on New Capital: Report Oct 28, 2009
The Wall Street Journal said that the capital injection now being negotiated by the company and U.S. government officials would come in the form of preferred stock. The U.S. government's 34-percent stake in GMAC could rise if the shares are converted into common equity, it said. (ABC News -- Wire)
First Busey Announces Third Quarter 2009 Loss, Goodwill Impairment, Pre-Provision Profit and Dividend Payment Oct 28, 2009
3 million of mandatorily convertible preferred stock by the end of October 2009. The preferred stock will convert to common stock at $4 per share upon approval of our common stockholders, which will be voted upon at a special shareholders meeting to be held on December 2, 2009 ... Upon the closing of the private placement of our mandatorily convertible preferred stock, we will request the US Treasury to reduce the number of shares of our common stock underlying the warrant issued in conjunction... (Primezone Releases)
Aquesta Bank swings to 3Q gain Oct 28, 2009
In the third quarter of 2008, Aquesta wrote down an investment in Fannie Mae and Freddie Mac preferred stock with a valuation charge of $792,000. In the latest quarter, total assets grew to $185. (Charlotte Business Journal, NC)
GMAC eyes fed aid again Oct 28, 2009
The new infusion would come in the form of preferred stock ... The new infusion would come in the form of preferred stock. (New York Post -- Business)
Naugatuck Valley Savings posts 3rd quarter profit Oct 28, 2009
2 million impairment charge on auction rate pass-through certificates backed by preferred stock in Fannie Mae, the government-chartered mortgage finance company. Auction pass-through certificates are a renewable investment vehicle backed by preferred stock or some other form of security. (Republican-American)
Vitamin Shoppe's IPO Hands Blackstone, Horowitz Cash After Dot-Com Crash Oct 28, 2009
Vitamin Shoppe intends to use its portion of the IPO proceeds to redeem about $64 million in preferred stock held by its owners and repay about $40 million in debt, according to the regulatory filing. The retailer had about $165 million in long- term debt prior to the offering. (Bloomberg)
Summit State Bank Reports Third Quarter Profit and Declaration of Dividend Oct 27, 2009
Additionally, a dividend on the preferred stock of $106,250 was declared payable on November 15, 2009 ... This compares to a negative $1,970,000 for the third quarter of 2008, which reflected a $2,262,000 impairment charge on investments in preferred stocks of Fannie Mae and Freddie Mac and a Shearson Lehman bond ... 05 Basic weighted average shares of common stock outstanding 4,745 4,745 4,745 4,745 Diluted weighted average shares of common stock outstanding 4,794 4,745 4,768 4,745 SUMMIT STATE... (Primezone Releases)
How does he do it? Oct 27, 2009
Mr Buffett bolstered confidence in Goldman, and, at the same time, secured a favourable deal for Berkshire, with Goldman agreeing to pay Berkshire Hathaway a 10% annual dividend on the preferred stock, irrespective of Goldman Sach's common stock price. The World's Greatest Money Maker: Evan Davis meets Warren Buffett, broadcast 2100 Monday 26 October and 2320BST Tuesday 27 October on BBC Two. (BBC News -- Business)
Guaranty Bancorp loss widens in Q3 Oct 27, 2009
The bank raised nearly $60 million in August through an offering of convertible preferred stock. As of Sept. 30, the bank's total risk-based capital ratio was 13. (Denver Business Journal, CO)
Guaranty Bancorp Announces 2009 Third Quarter Financial Results Oct 24, 2009
Dan Quinn, Guaranty Bancorp President and CEO, stated, "During the third quarter 2009, we significantly increased our capital position with a successful capital raise of $57.9 million, net of expenses, through the issuance of mandatorily convertible preferred stock. At September 30, 2009, our total risk-based capital ratio was 13.42% as compared to 10.73% at the end of the prior quarter. Similarly, our GAAP equity ratio and tangible equity ratio at September 30, 2009, increased by over 160 basis... (Primezone Releases)
DNB Financial Corporation Announces Third Quarter 2009 Earnings Oct 24, 2009
DNB Financial Corporation Summary of Financial Statistics (Dollars in thousands, except per share data) Three Months Ended Nine Months Ended September 30 September 30 ------------------ ------------------ 2009 2008 2009 2008 ------- ------- ------- ------- EARNINGS: Interest income $ 6,725 $ 7,194 $19,189 $21,349 Interest expense 2,772 3,205 8,015 9,962 Net interest income 3,953 3,989 11,174 11,387 Provision for credit losses 300 727 700 1,241 Non-interest income 1,060 903 3,202 3,489... (Primezone Releases)
CenterState loss swells on loans provision Oct 24, 2009
7 million, as well the preferred stock dividends and accretion related to the redemption of preferred stock issued to the U.S. Treasury under the Troubled Asset Relief Program ... 9 million in preferred stock it issued to the Treasury under TARP, after raising $86 million in a public offering one month earlier. (Tampa Bay Business Journal, FL)
Sterling required to raise $300M Oct 24, 2009
In August, the company announced it would defer interest payments on notes and preferred stock, triggering a sell-off of its common shares that dropped the price 20 percent to 2. 42. (Coos Bay-North Bend The World, OR)
Heritage Commerce Corp Reports Financial Results for Third Quarter 2009 Oct 23, 2009
1 million provision for loan losses and $599,000 in dividends and discount accretion on preferred stock ... The increase in shareholders' equity was due to the issuance of $40 million in preferred stock to the U.S. Treasury as a participant in its Capital Purchase Program during the fourth quarter of 2008 ... The Company will also be required to request the approval of the FRB prior to incurring or increasing any debt, paying dividends on common and preferred stock, paying interest on trust... (Primezone Releases)
Sussex Bancorp Announces Improved Third Quarter and Nine Month Earnings Oct 23, 2009
The improvement in the Company's performance in 2009 reflects higher net interest income, partially offset by higher provisions for loan losses, and the impact of other than temporary impairment ("OTTI") charges in 2008 attributable to Fannie Mae and Freddie Mac preferred stock. The Company had no comparable OTTI charge in 2009. (Primezone Releases)
Bank of Ky. profits drop on loan losses Oct 23, 2009
Third-quarter results include the sale of $34 million in preferred stock and the issuance of a warranty to the U.S Treasury Department as part of the Troubled Assets Recovery Program (TARP). The bank included a provision for loan losses of $4 million, up from $775,000 year over year. (Cincinnati Business Courier, OH)
Somerset Hills Bancorp Reports 2009 Third Quarter and Nine-month Earnings; Declares Cash Dividend of $0.05 Per Share Oct 23, 2009
4 million of preferred stock and warrants issued on January 16, 2009 to the U.S. Treasury under the Capital Purchase Program. During the second quarter of 2009 the Company repurchased all of the preferred stock and warrants issued to Treasury, and therefore these securities had no impact on the current quarter. (Primezone Releases)
Alliance Bank of Arizona lays off 18 Oct 23, 2009
In November, Western Alliance received preliminary approval from the U.S. Treasury Department for the government to purchase $140 million of the Nevada company s preferred stock and warrants. That was part of the government s attempt to infuse capital into the nation s ailing banking sector, with the hope it would unclog the credit markets. (Phoenix Business Journal, AZ)
Evergreen sells $7M in convertible stock Oct 23, 2009
said Thursday it has privately sold $7 million of its convertible preferred stock for "general corporate purposes" as part of a restructuring. The Denver clean-coal technology company (NYSE Arca: EEE) said it expects about $5 million in net proceeds from the sale of sakes of its Series B convertible preferred stock to institutional investors ... Evergreen said the preferred stock is convertible into common stock at the conversion price of 60. (Denver Business Journal, CO)
Central Jersey Bancorp Reports Operating Results for Third Quarter of 2009 Oct 23, 2009
The net income available to common shareholders figure takes into account $186,000 in preferred stock dividends paid to the U.S. Department of the Treasury as part of the Capital Purchase Program during the three months ended September 30, 2009 ... The net income available to common shareholders figure takes into account $557,000 in preferred stock dividends paid to the U.S. Department of the Treasury as part of the Capital Purchase Program during the nine months ended September 30, 2009 ...... (Primezone Releases)
F.N.B 3Q earnings down 56 percent Oct 23, 2009
8 million of F.N.B. s (NYSE:FNB) third quarter earnings was available to common shareholders, after deducting costs associated with F.N.B. s redemption of the preferred stock it sold to the government through TARP.. F.N.B. continues to execute its organic growth strategy to take advantage of the opportunities created by the competitive disruption in our Pennsylvania markets, President and CEO Stephen Gurgovits Sr. said in a statement. (Pittsburgh Business Times, PA)
Rush Enterprises, Inc. Reports Third Quarter Results Oct 22, 2009
RUSH ENTERPRISES, INC. AND SUBSIDIARIES --------------------------------------- CONSOLIDATED BALANCE SHEETS --------------------------- (In Thousands, Except Shares and Per Share Amounts) Sept. 30, Dec. 31, 2009 2008 ----------- ----------- Assets (Unaudited) ------ Current assets: Cash and cash equivalents $ 136,731 $ 146,411 Investments 7,575 7,575 Accounts receivable, net 41,407 55,274 Inventories 274,758 362,234 Prepaid expenses and other 2,270 3,369 Deferred income taxes, net 9,112 6,730... (Primezone Releases)
LCNB redeems TARP stock Oct 22, 2009
said Wednesday it has redeemed all 13,400 shares of its preferred stock purchased by the U.S. Treasury Department as part of the Troubled Assets Recovery Program. The Lebanon-based bank said it paid about $13. (Cincinnati Business Courier, OH)
SonaBank posts gains Oct 22, 2009
34 million other than temporary impairment charge on a portfolio of Freddie Mac perpetual preferred stock. Net interest margin at the bank was up to 3. (Washington Business Journal, DC)
Pinnacle posts sharp loss in 3Q Oct 22, 2009
As a result, Turner said Pinnacle will delay redemption of the preferred stock the bank was issued under the U.S. Treasury s Capital Purchase Program. In late trading Wednesday, Pinnacle s stock was trading at $12. (Nashville Business Journal, TN)
Whitney Announces Pricing of Common Stock Offering Oct 22, 2009
The Company expects to use the proceeds from the offering for working capital and general corporate purposes, which may include capital to support organic growth, to better position the Company for the eventual redemption of the Company's preferred stock and warrant issued to the U.S. Department of Treasury pursuant to the Capital Purchase Program, and to facilitate future acquisition opportunities. J.P. Morgan Securities Inc. and SunTrust Robinson Humphrey, Inc. served as joint book-running... (Primezone Releases)
READ: Wells Fargo's press release Oct 22, 2009
Wells Fargo & Company and Subsidiaries CONSOLIDATED BALANCE SHEET (in millions, except shares) Sept. 30, Dec. 31, 2009 2008 Assets Cash and due from banks $ 17,233 23,763 Federal funds sold, securities purchased under resale agreements 17,491 49,433 and other short-term investments Trading assets 43,198 54,884 Securities available for sale 183,814 151,569 Mortgages held for sale (includes $33,435 and $18,754 carried at 35,538 20,088 fair value) Loans held for sale (includes $201 and $398 carried... (USA Today -- Money)
Pulaski reports Q4 profit Oct 22, 2009
The company said income available to common shares for the quarter ended Sept. 30 was reduced by dividends on the company s preferred stock, issued as part of the U.S. Treasury s TARP (Troubled Asset Relief Program) Capital Purchase Plan, totaling $514,000, or 5 cents per diluted common share. Pulaski s net income for the fiscal year ended Sept. 30 was $5. (St. Louis Business Journal, MO)
Eagle Bancorp, Inc. Announces $2.1 Million 3rd Quarter Net Income Available to Common Shareholders and a 20% Decline in Nonperforming Assets in the 3rd Quarter Oct 22, 2009
2 million of preferred stock Series A, issued in December 2008 to the U.S. Treasury under the Capital Purchase Plan (commonly referred to as TARP) ... Eagle Bancorp, Inc. Financial Highlights (in thousands, except per share data) Nine Months Ended Three Months Ended September 30, September 30, ------------------------ ------------------------ Income 2009 2008 2009 2008 Statements: (Unaudited) (Unaudited) (Unaudited) (Unaudited) ---------- Total interest income $ 61,925 $ 44,753 $ 21,426 $ 16,744... (Primezone Releases)
READ: Morgan Stanley's press release Oct 22, 2009
(4) During the quarter ended June 30, 2009, the Company repurchased its Series D Fixed Rate Cumulative Perpetual Preferred Stock resulting in a one-time reduction from earnings applicable to Morgan Stanley's common shareholders for the accelerated amortization of the Preferred Stock issuance discount. The earnings per share calculation for the quarter ended June 30, 2009 also includes a charge of $202 million related to the partial redemption of Series C Non-Cumulative Non-Voting Preferred Stock... (USA Today -- Money)
LodgeNet Reports Results for Third Quarter 2009 Oct 22, 2009
7 million of the proceeds from the sale of the convertible preferred stock to repay a portion of the Term B as required ... LodgeNet Interactive Corporation and Subsidiaries Consolidated Balance Sheets (Unaudited) (Dollar amounts in thousands, except share data) September 30, December 31, 2009 2008 ---- ---- Assets Current assets: Cash and cash equivalents $26,102 $10,800 Accounts receivable, net 59,991 63,620 Other current assets 9,108 9,107 ----- ----- Total current assets 95,201 83,527... (Yahoo! Wire -- Entertainment News)
Studio featured on 'Queer Eye' ready to sell its shares Oct 22, 2009
Its filing with the Securities and Exchange Commission placed the authorized share volume at 30 million shares of common stock and 10 million shares of preferred stock at undisclosed values. The planned IPO "is something we've been working toward. We're excited about our potential," Chief Financial Officer David Barnard said. (Yahoo News -- Queer Eye for the Straight Guy)
DayStar backs out of acquisition deal Oct 22, 2009
DayStar in September said it planned to pay $300 million in preferred stock for EPOD, a company that manufactures solar modules and operates solar parks throughout Europe and North America. DayStar s board of directors terminated the agreement because it was in the best interests of all DayStar shareholders, the company said. (Albany Business Review, NY)
Business.view: Heads I win, tails you lose Oct 21, 2009
Warren Buffett would not have made such a mistake, as he showed when he invested in Goldman Sachs soon after the government did negotiating a 10% dividend on $5 billion of preferred stock with warrants giving him the right to invest a further $5 billion in Goldman shares at what now looks like the bargain price of $115 each. Surely Mr Paulson could have negotiated far better terms than Mr Buffett. (The Economist)
First Horizon Announces Quarterly Dividends Oct 21, 2009
In addition, the board approved payment of the quarterly cash dividend on the Fixed Rate Cumulative Perpetual Preferred Stock, Series CPP, issued to the U.S. Treasury, at the 5 percent annual dividend rate. That dividend is payable on Nov. 16, 2009, to the holder of record Oct. 23, 2009. (Primezone Releases)
Anchor BanCorp Wisconsin Inc. Adjusts First Quarter Results Based on Increased Loan Charge-Offs Oct 21, 2009
--------------------------------------------------------------------- ANCHOR BANCORP WISCONSIN INC. CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION --------------------------------------------------------------------- (Unaudited) June 30, March 31, 2009 2009 (Restated) ---------------------- (In Thousands) Assets Cash and cash equivalents $ 644,302 $ 433,826 Investment securities available for sale, at fair value 51,294 77,684 Mortgage-related securities available for sale, at fair value 493,313... (Primezone Releases)
