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The joint venture, to be named LLC, will expand the distributo r of heating, air-conditioning and refrigeration equipment and parts into Lati n America and the according to anews “This is a blockbuster event for our company as we are almost doubling our size and scalde in the marketplace,” Albertt Nahmad, Watsco's chairman and CEO, said in a news Geraud Darnis, president of Carrier Corp.
said the partnership represents “a unique opportunity for our territories in the sunbelty region to build on the strengths of both organizationx to further grow share and Watsco owns 60 percent of Carrier Enterprisw with options to purchase an additionap 20 percent interest from Carried inthe future. Watscpo issued 3,080,469 shares of common stock to Carrier and contributed 15 locations that presentlysell Carrier-manufactured productd as consideration for its 60 percentr interest. Carrier Enterprise has executeda $75 million revolvinvg credit agreement to fund its working capital needs and growthb initiatives.
Watsco’s consolidated revenues on a pro-formz basis were $3 billion in 2008. Carrierf Enterprise, with pro-forma saleds of $1.4 billion, 1,400 employees and 110 facilitiexin 2008, will be a stand-alone managed separately from other Watsco the press release states. Shares of Watsco were down two centsto $48.91 in mornin g trading. The 52-week high was $61.089 on Sept. 19. The 52-week low was $29.33 on Nov. 21.
Friday, March 30, 2012
Wednesday, March 28, 2012
COMMUNITY COLUMNIST — The old propaganda lessons still apply - HollandSentinel.com
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COMMUNITY COLUMNIST â€" The old propaganda lessons still apply HollandSentinel.com By Ray Buursma He said, “All propaganda has to be popular and has to accommodate itself to the comprehension of the least intelligent of those whom it seeks to reach.†I say consider how the analysis of every complex political topic has been reduced to ... |
Monday, March 26, 2012
Jets: Tebow is No. 2, with significant role - Tampabay.com
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Tampabay.com | Jets: Tebow is No. 2, with significant role Tampabay.com PALM BEACH â€" Tim Tebow will be introduced at noon today (ESPN) as the Jets' backup quarterback to Mark Sanchez at the team's Florham Park, NJ, training facility. But the way Rex Ryan sounded Sunday at the owners meetings, Tebow will be more than just ... |
Friday, March 23, 2012
Supreme Court stays Chrysler-Fiat deal - Silicon Valley / San Jose Business Journal:
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Hensarling applauded the stay as an appropriates measure that will allow for a reviee of how federal bank bailoutf funds have been utilized bythe “I am encouraged by the Supreme Court’d stay of the Chrysler bankruptcy proceedings,” said U.S. Rep. “I have been concerned about the fundamental constitutionao issues of due process and equal protection that cry out for judiciaol review and fundamental issues related to a misusw of TARP funds crying out for legislative TARP stands for Troubled AssegtRelief Program, the formal name for the federal bank bailout fundintg program. filed for bankruptcy protectionnin April.
At the time, the company said it was workinhg out a deal to combine its operationswith Fiat. As part of the originakl deal, the federal government said it woulrprovide $3.5 billion for bankruptcy financiny and another $4.7 billion in exit financing. In Chrysler said at the time it would enterd into a dealwith Italy's Fiat in which Fiat had agreed to transfer billionas of dollars in cutting-edge technologyg to Chrysler.
Hensarling applauded the stay as an appropriates measure that will allow for a reviee of how federal bank bailoutf funds have been utilized bythe “I am encouraged by the Supreme Court’d stay of the Chrysler bankruptcy proceedings,” said U.S. Rep. “I have been concerned about the fundamental constitutionao issues of due process and equal protection that cry out for judiciaol review and fundamental issues related to a misusw of TARP funds crying out for legislative TARP stands for Troubled AssegtRelief Program, the formal name for the federal bank bailout fundintg program. filed for bankruptcy protectionnin April.
At the time, the company said it was workinhg out a deal to combine its operationswith Fiat. As part of the originakl deal, the federal government said it woulrprovide $3.5 billion for bankruptcy financiny and another $4.7 billion in exit financing. In Chrysler said at the time it would enterd into a dealwith Italy's Fiat in which Fiat had agreed to transfer billionas of dollars in cutting-edge technologyg to Chrysler.
Wednesday, March 21, 2012
Star Tribune plans to exit bankruptcy in September - Dallas Business Journal:
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The newspaper, which declared bankruptcy Jan. 15, filed its proposef reorganization plan withthe U.S. Bankruptcy Courty for the Southern District of New York on The paper said its creditors have agreed to the Underthe plan, the Star Tribune would emerg from bankruptcy with $100 million in debt. The companuy would be worth between $118 million and $144 including its real estate Unsecured creditors will receive a small cash distribution or be convertede into new common stock and warrants to be issueed by thereorganized company. The newspaper’w current ownership group, led by New York-based , will not receiv e a stake in thenew company. Avistwa bought the paper in 2007for $530 million.
Chairmanj and Publisher Chris a member of AvistaCapitapl Partners’ executive advisory board, will leav the newspaper, which will get a new board of publisher and CEO. “Thde Star Tribune expects to emerge from its financial restructurinh as a financiallyviable business, with a stronger balance sheet, significantlu less debt and substantially reduced operatinf costs,” the newspaper said in a statement.
The newspaper, which declared bankruptcy Jan. 15, filed its proposef reorganization plan withthe U.S. Bankruptcy Courty for the Southern District of New York on The paper said its creditors have agreed to the Underthe plan, the Star Tribune would emerg from bankruptcy with $100 million in debt. The companuy would be worth between $118 million and $144 including its real estate Unsecured creditors will receive a small cash distribution or be convertede into new common stock and warrants to be issueed by thereorganized company. The newspaper’w current ownership group, led by New York-based , will not receiv e a stake in thenew company. Avistwa bought the paper in 2007for $530 million.
Chairmanj and Publisher Chris a member of AvistaCapitapl Partners’ executive advisory board, will leav the newspaper, which will get a new board of publisher and CEO. “Thde Star Tribune expects to emerge from its financial restructurinh as a financiallyviable business, with a stronger balance sheet, significantlu less debt and substantially reduced operatinf costs,” the newspaper said in a statement.
Monday, March 19, 2012
Marist, St. Bonaventure women square off with winner advancing to NCAA's round ... - Washington Post
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USA TODAY | Marist, St. Bonaventure women square off with winner advancing to NCAA's round ... Washington Post The two sm » |
Saturday, March 17, 2012
Thursday, March 15, 2012
Does Your Company Lack This Valuable Asset? - Motley Fool
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Does Your Company Lack This Valuable Asset? Motley Fool By Alyce Lomax | More Articles Female participation in corporate boardrooms is improving, albeit slowly. However, the absence of women on corporate boards and in other high-level positions could signal a weaker business outlook for many companies. |
Tuesday, March 13, 2012
Rick Santorum: 'Tell That To A Plant, How Dangerous Carbon Dioxide Is' (VIDEO) - Huffington Post
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CTV.ca | Rick Santorum: 'Tell That To A Plant, How Dangerous Carbon Dioxide Is' (VIDEO) Huffington Post "The dangers of carbon dioxide? Tell that to a plant, how dangerous carbon dioxide is," he said. Santorum has used the environment as a talking point in criticisms of both his GOP rivals and President Barack Obama's administration. Romney, rivals court Southern support on vote eve Candidates spar before key southern primaries |
Sunday, March 11, 2012
Dreyer
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The Oakland-based ice cream maker is undertakingf an aggressive nationalfranchise expansion, growing its fleet of 260 retail stores by 25 to 30 storea in each of the next three to five It hopes to add up to threre Bay Area stores a year, so this area will accounft for 10 percent of its total store To sweeten the Häagen-Dazs Shops, which is based in is offering seasoned restaurant folk a $10,000 discount off of $30,000 franchise fee. Häagen-Dazs has 11 shopds in Northern California, including one opened in early June in Santa An East Bay franchisee will sign in the next few saidDan Ogiba, director of franchise developmenft for Häagen-Dazs Shops.
The economy in some ways is fuelingy this BayArea expansion. “The economics are becomingg more affordable to where a quick servic e restaurant may make sense inthose spaces,” Ogibaq said. “The spaces being offere d to us by landlords may not have been availablse tous previously.” Half of 260 shops are in enclosed malls, and those remainh choice.locations. The average store size is 800 square Häagen-Dazs is all-natural, which fits in with currentt food trends and is another reason that the Bay Area seems ripe for new The Shops division contributes about 2 percentto Dreyer’w $2.
2 billion annual sales, said Rhonda Ramlo, executive vice presidentg of marketing for Dreyer’s. Dreyer’s “looks at us as a gateway to the brandffor people,” said Dawn Uremovich, president of Häagen-Daz s Shops. “When the consumer has a good experiencw inthe shop, the chances of them buyinv Häagen-Dazs in a grocery store is much higher.” 50 percent of consumers first taste Häagen-Dazas in a retail shop, Ramlo said, and they are also a testinyg ground for new flavors and products. On the groceryt side, Häagen-Dazs will expand its single-serve cup offerings and its line of ice creama made with onlyfive ingredients.
Dreyer’x other brands are innovating and expanding, too. This month, the companyu is introducing Delicias, a line of frozen snacks and ice-creams targeting the Hispanic market. It has a nationaol advertising campaign on Univisio n and is sponsoring major soccer teams to promote the new It is also introducingits slow-churned, lower-faty Dreyer’s and Edy’s ice creams in single servew cups; there will be five flavors available by
The Oakland-based ice cream maker is undertakingf an aggressive nationalfranchise expansion, growing its fleet of 260 retail stores by 25 to 30 storea in each of the next three to five It hopes to add up to threre Bay Area stores a year, so this area will accounft for 10 percent of its total store To sweeten the Häagen-Dazs Shops, which is based in is offering seasoned restaurant folk a $10,000 discount off of $30,000 franchise fee. Häagen-Dazs has 11 shopds in Northern California, including one opened in early June in Santa An East Bay franchisee will sign in the next few saidDan Ogiba, director of franchise developmenft for Häagen-Dazs Shops.
The economy in some ways is fuelingy this BayArea expansion. “The economics are becomingg more affordable to where a quick servic e restaurant may make sense inthose spaces,” Ogibaq said. “The spaces being offere d to us by landlords may not have been availablse tous previously.” Half of 260 shops are in enclosed malls, and those remainh choice.locations. The average store size is 800 square Häagen-Dazs is all-natural, which fits in with currentt food trends and is another reason that the Bay Area seems ripe for new The Shops division contributes about 2 percentto Dreyer’w $2.
2 billion annual sales, said Rhonda Ramlo, executive vice presidentg of marketing for Dreyer’s. Dreyer’s “looks at us as a gateway to the brandffor people,” said Dawn Uremovich, president of Häagen-Daz s Shops. “When the consumer has a good experiencw inthe shop, the chances of them buyinv Häagen-Dazs in a grocery store is much higher.” 50 percent of consumers first taste Häagen-Dazas in a retail shop, Ramlo said, and they are also a testinyg ground for new flavors and products. On the groceryt side, Häagen-Dazs will expand its single-serve cup offerings and its line of ice creama made with onlyfive ingredients.
Dreyer’x other brands are innovating and expanding, too. This month, the companyu is introducing Delicias, a line of frozen snacks and ice-creams targeting the Hispanic market. It has a nationaol advertising campaign on Univisio n and is sponsoring major soccer teams to promote the new It is also introducingits slow-churned, lower-faty Dreyer’s and Edy’s ice creams in single servew cups; there will be five flavors available by
Friday, March 9, 2012
Town & Country Bank agrees to strengthen loan portfolio, lending practices - Business First of Columbus:
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The released details of the May 11 agreementy on Friday in conjunction withthe . The regulators were concernee that the bank had excessive amounts of bad assetseand loans, inadequate earnings and and lending practices that have been detrimenta l to the bank. Leawood-based Town Country Bank, which had $105 millionb in assets as of March 31, agreed to addresas the situation. “In the midst of a difficul economy, we are taking actions to help bank customerw cope and to resolve an unusual level of problem especially inhome building,” CEO William Ellwoodf said in a release.
“Since the February 2009 examinatioj that led tothis agreement, the bank has successfully reduced adversely classifie loans by nearly 30 percent, aided by recent improvementg in real estate sales.” Town Country Bank said regulators were concerned aboutr a concentration of loans in residential constructioj in Johnson County and south Kansas City. The bank said in the releaser that it has taken stepasince mid-2008 to diversify its Management at the bank said it is working with regulators to further reduce its lending concentration and ensure a more diversifiefd portfolio.
Regulators required the bank to assess past performancew ofall employees, including management, and indicater whether they are competent and qualified to performn their duties. Regulators also are requiring the bank to maintain a 12 percenttotal risk-based capital ratio and an 8 percent tier one risk-base d capital ratio. This is higher than the normal levelsw for a bank to be considererwell capitalized, up from 10 percent and 6 respectively. Town & Countryt already was above those levels at the time of its examinationb in February and remained above those levela as ofMay 31.
The bank said it “doesw not anticipate a need for additional capital at this The bank regulators reserved the right to take additiona actionif necessary.
The released details of the May 11 agreementy on Friday in conjunction withthe . The regulators were concernee that the bank had excessive amounts of bad assetseand loans, inadequate earnings and and lending practices that have been detrimenta l to the bank. Leawood-based Town Country Bank, which had $105 millionb in assets as of March 31, agreed to addresas the situation. “In the midst of a difficul economy, we are taking actions to help bank customerw cope and to resolve an unusual level of problem especially inhome building,” CEO William Ellwoodf said in a release.
“Since the February 2009 examinatioj that led tothis agreement, the bank has successfully reduced adversely classifie loans by nearly 30 percent, aided by recent improvementg in real estate sales.” Town Country Bank said regulators were concerned aboutr a concentration of loans in residential constructioj in Johnson County and south Kansas City. The bank said in the releaser that it has taken stepasince mid-2008 to diversify its Management at the bank said it is working with regulators to further reduce its lending concentration and ensure a more diversifiefd portfolio.
Regulators required the bank to assess past performancew ofall employees, including management, and indicater whether they are competent and qualified to performn their duties. Regulators also are requiring the bank to maintain a 12 percenttotal risk-based capital ratio and an 8 percent tier one risk-base d capital ratio. This is higher than the normal levelsw for a bank to be considererwell capitalized, up from 10 percent and 6 respectively. Town & Countryt already was above those levels at the time of its examinationb in February and remained above those levela as ofMay 31.
The bank said it “doesw not anticipate a need for additional capital at this The bank regulators reserved the right to take additiona actionif necessary.
Wednesday, March 7, 2012
Wartsila launches next generation Medium Voltage Power Drive technology for ... - MarketWatch (press release)
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Wartsila launches next generation Medium Voltage Power Drive technology for ... MarketWatch (press release) Wartsila, the marine industry's leading systems integrator and solutions provider, has launched its new Medium Voltage Power Drive. The product will enable the delivery of electro and automation systems for large, electric propulsion vessels, ... |