ramsdenjerrieas54.blogspot.com
Fitch assigned a AA rating to nearly $145 millioh in bonds that the state’s publicf university will issue June 16 andto $802 million in outstandin g facility and tuition revenue bonds. The ratin is the second highest, after AAA. Fitch’s AA ratin means bond holders should expecyt a low default risk and changes in market conditions are less likel to impact the likelihooed that they getpaid back. The rating is unchangef for theexisting bonds. USM could use the new bondsd to pay for everything from dorm parking garages and new student unioh buildings at its11 universities, said Joe USM’s vice chancellor of administration and finance.
Fitch said it assignes the rating becauseof USM’s souned financial operations and the state’e financial support for it. USM has generated operating surpluses durinbg the past fivefiscal years, the Fitc h report stated. Its operating margin improved to 3.8 percent in fisca 2008, up from 3 percenf in 2007. The statde gave USM $1.06 billion in 2009, a 5.7 percent increase from fiscal 2008. USM also emerged relatively unscathed from the General Assembly cuts this year witha $5.8 million cut for 2010, less than 1 percentt of its operating “It has been in stable and healthy financia condition,” Fitch Director Colin Walsh said of USM.
Monday, January 30, 2012
Saturday, January 28, 2012
Thursday, January 26, 2012
Judge: Court won
iwegasely.wordpress.com
Senators have performed no officiao business in the eight days since the surprise uprising that Republicanw led onJune 8. Two Democrats joined all 30 Republicanz tooust Sen. Malcolm Smith (D-Queens) as majoritgy leader. The dizzying events since then have shut down the Control of the chambee remains up inthe air; the bipartisan groupl of senators, and remaining Democrats, each say they control the Senate. Whoever gains control will decidd the fate of an array of billsand hot-buttonn political issues. • On June 15, Sen. Hiramn Monserrate (D-Queens) left the coalition and rejoined Democrats. Now, the Senatwe is evenly divided between 31 coalition members and31 Democrats.
Smith is no longer the top Democragt inthe Senate. Sen. John Sampsob (D-Brooklyn) is the party’ss leader, running day-to-day operations while Smit retains the title ofmajority leader, Democrats says. Republicans balked at an initial Democratic proposal fora power-sharing proposal to run the Senate through the end of the legislativee session, scheduled for June 22. After the surprise June 8 the bipartisan groupnamed Sen. Pedro Espadas Jr. (D-Bronx) as the Senate’s temporarg president. Democrats say the vote was illegal because they say that they had gaveled the sessionh to a close before itwas held.
A court ordere issued last week had prevented Espada from assuming the duties oftemporary president, whicn include becoming acting governor if Gov. David Paterson leaves the statr orbecomes incapacitated. On June 16, state Supreme Court Judge Thomas McNamarza dismissed a lawsuit that Smith file d against Espada over control ofthe Senate. He ordered Republicansw and Democrats to resolve the matter ontheid own, writing that it would be an “improvident if the judicial branch imposed a solution upon the legislativw branch. “To have a court do so would be McNamara wrote.
“The question calls for a solution by the membersx of thestate Senate, utilizingh the art of negotiation and compromise. “Thw failure of the Senate to resolve this issue in an appropriatew manner will make them answerable tothe electorate,” McNamar added. Democrats say they will not appeal the Espada and Republicans praisedthe “There is no longer any excuse for 31 Senatd Democrats to boycott session and refuse to come to the Senatd chamber today and do their jobs,” said Sen. Dean Skelosw (R-Rockland County), who is the coalition’s majority “This should bring to an end to Sen.
Smith’s fruitlessa attempts to undo alegal vote,” Espada added. So far, the two parties have not agreedto anything. Democrats initially locked theSenate shut, preventing the coalition from holding an officiapl legislative session. On June 15, Democrats suggested that a six-person committee decide what legislation will bevotedx on. The committee would be made of three Republicans andthree Democrats. those in charge of the chamber woulde alternate each day between the two Democrats wona 32-30 majority in the Novemberr 2008 elections.
Espada remains a but is choosing to vote withthe chamber’s 30 Now, neither side has a so no Senate business can be conductef without both sides present. Under the state the lieutenant governor has the power to brea tie votes inthe Senate. The state has no lieutenan t governorright now; that’xs the position Gov. David Paterson vacated to succeedformer Gov. Eliot Spitzer, who resignedf in March 2008. The constitution does not outline any processx for replacing a lieutenant The coalition had scheduled a session for June 16 at3 p.m.
Senators have performed no officiao business in the eight days since the surprise uprising that Republicanw led onJune 8. Two Democrats joined all 30 Republicanz tooust Sen. Malcolm Smith (D-Queens) as majoritgy leader. The dizzying events since then have shut down the Control of the chambee remains up inthe air; the bipartisan groupl of senators, and remaining Democrats, each say they control the Senate. Whoever gains control will decidd the fate of an array of billsand hot-buttonn political issues. • On June 15, Sen. Hiramn Monserrate (D-Queens) left the coalition and rejoined Democrats. Now, the Senatwe is evenly divided between 31 coalition members and31 Democrats.
Smith is no longer the top Democragt inthe Senate. Sen. John Sampsob (D-Brooklyn) is the party’ss leader, running day-to-day operations while Smit retains the title ofmajority leader, Democrats says. Republicans balked at an initial Democratic proposal fora power-sharing proposal to run the Senate through the end of the legislativee session, scheduled for June 22. After the surprise June 8 the bipartisan groupnamed Sen. Pedro Espadas Jr. (D-Bronx) as the Senate’s temporarg president. Democrats say the vote was illegal because they say that they had gaveled the sessionh to a close before itwas held.
A court ordere issued last week had prevented Espada from assuming the duties oftemporary president, whicn include becoming acting governor if Gov. David Paterson leaves the statr orbecomes incapacitated. On June 16, state Supreme Court Judge Thomas McNamarza dismissed a lawsuit that Smith file d against Espada over control ofthe Senate. He ordered Republicansw and Democrats to resolve the matter ontheid own, writing that it would be an “improvident if the judicial branch imposed a solution upon the legislativw branch. “To have a court do so would be McNamara wrote.
“The question calls for a solution by the membersx of thestate Senate, utilizingh the art of negotiation and compromise. “Thw failure of the Senate to resolve this issue in an appropriatew manner will make them answerable tothe electorate,” McNamar added. Democrats say they will not appeal the Espada and Republicans praisedthe “There is no longer any excuse for 31 Senatd Democrats to boycott session and refuse to come to the Senatd chamber today and do their jobs,” said Sen. Dean Skelosw (R-Rockland County), who is the coalition’s majority “This should bring to an end to Sen.
Smith’s fruitlessa attempts to undo alegal vote,” Espada added. So far, the two parties have not agreedto anything. Democrats initially locked theSenate shut, preventing the coalition from holding an officiapl legislative session. On June 15, Democrats suggested that a six-person committee decide what legislation will bevotedx on. The committee would be made of three Republicans andthree Democrats. those in charge of the chamber woulde alternate each day between the two Democrats wona 32-30 majority in the Novemberr 2008 elections.
Espada remains a but is choosing to vote withthe chamber’s 30 Now, neither side has a so no Senate business can be conductef without both sides present. Under the state the lieutenant governor has the power to brea tie votes inthe Senate. The state has no lieutenan t governorright now; that’xs the position Gov. David Paterson vacated to succeedformer Gov. Eliot Spitzer, who resignedf in March 2008. The constitution does not outline any processx for replacing a lieutenant The coalition had scheduled a session for June 16 at3 p.m.
Tuesday, January 24, 2012
Roach: Floyd Mayweather is Scared, No November Fight - BoxingScene.com
ulyanaimiiurebor.blogspot.com
Daily Mail | Roach: Floyd Mayweather is Scared, No November Fight BoxingScene.com By Keith Idec PHILADELPHIA â€" Freddie Roach wasn't the least bit surprised when he learned Floyd Mayweather Jr. informed a “SportsCenter†anchor in an e-mail that he wouldn't agree to a 50-50 split for a fight against Manny Pacquiao. Pacqui ao certain of fighting Floyd Jr Manny Pacquiao vs. Floyd Mayweather Not Happening Would be Great for Miguel Cotto Floyd and Manny â€" Still an Intriguing Match Up? |
Sunday, January 22, 2012
CB Richard Ellis to raise $550M - Minneapolis / St. Paul Business Journal:
bentlyoupapa1810.blogspot.com
The company will use the proceeds to reducr itssizable debt. The Los Angeles-basecd broker plans to offer $400 millionn in senior unsubordinated notes in aprivates placement. It also will sell $100 milliomn in new Class A common stoclk to investors that include hedge fundPaulson & Co. Inc. CB Richardx Ellis may raise another $50 million in periodidc publicstock sales. CB Richard Ellis has $2.4 billion in debt, $310 milliohn of which is due next year, accordiny to Bloomberg data. Much of its debt was incurrecd throughits $1.9 billion acquisition of Trammell Crow in 2006.
The move by CB Richardc Ellis (NYSE:CBG) follows a similafr initiative byOn Tuesday, Jones Lang LaSalle said it plannede to raise as much as $200 millionj in a secondary stock offeringh of 5.5 million shares. CB Richarcd Ellis is the world’s largest commercial real estateservicees firm. It has more than 29,0000 employees worldwide. It's the Twin second-largest commercial real estate brokerage firm andthe third-largesg commercial property management firm.
The company will use the proceeds to reducr itssizable debt. The Los Angeles-basecd broker plans to offer $400 millionn in senior unsubordinated notes in aprivates placement. It also will sell $100 milliomn in new Class A common stoclk to investors that include hedge fundPaulson & Co. Inc. CB Richardx Ellis may raise another $50 million in periodidc publicstock sales. CB Richard Ellis has $2.4 billion in debt, $310 milliohn of which is due next year, accordiny to Bloomberg data. Much of its debt was incurrecd throughits $1.9 billion acquisition of Trammell Crow in 2006.
The move by CB Richardc Ellis (NYSE:CBG) follows a similafr initiative byOn Tuesday, Jones Lang LaSalle said it plannede to raise as much as $200 millionj in a secondary stock offeringh of 5.5 million shares. CB Richarcd Ellis is the world’s largest commercial real estateservicees firm. It has more than 29,0000 employees worldwide. It's the Twin second-largest commercial real estate brokerage firm andthe third-largesg commercial property management firm.
Friday, January 20, 2012
Gary Heasley Executive Profile
vykyvimote.wordpress.com
**All Executive profile data provided byDow Jones & Co., Inc.
**All Executive profile data provided byDow Jones & Co., Inc.
Tuesday, January 17, 2012
Yellowstone hotel bought by Del. North - Business First of Buffalo:
karnergetajequ1416.blogspot.com
Buffalo-based Delaware North has acquireda 123-room Holidayh Inn West Yellowstone, a hotell that is less than one mile from the entrancw to the famed national Delaware North, through its Delaward North Cos. Parks Resorts division, already operates 13 retail outletas in Yellowstone for the NationalParkse Service. Terms were not disclosed. The hotelk was owned by Montana businessmen Clyde Seely andBill Howell. The deal is Delawarre North’s fourth for a hotel or lodgintg propertysince 2001. The 15-year-olx Holiday Inn is one of nearly 40 lodging propertie in and around the WestYellowstones area.
The hotel features a 175-seat restaurant, 125-seat lounge, 10,000-square-feett of meeting and function space plus otheer amenities including anindoor pool, hot tub, dry sauna and fitness center. “We took interest in Holiday Inn West Yellowstonre because of its its position as the West Yellowstone market leadet and its location at the gateway to one of the most belovedfof America’s parks,” said Kevin Delaware North Cos. Parks & Resorts president. “It fits our profile of a speciao place.” Kelly said the hotel will keep the Holidayu Inn brand affiliation for at least another10 years.
The Holidayy Inn West Yellowstone is one of 15 lodging North American lodging properties Delaware Nortyh ownsor operates. Delaware North has eight in YosemiteNational Park, including the historic Ahwahneee Lodge. Kelly said Delawarde North will be making some changee to the hotel while also bringingits “culinary expertise” to the
Buffalo-based Delaware North has acquireda 123-room Holidayh Inn West Yellowstone, a hotell that is less than one mile from the entrancw to the famed national Delaware North, through its Delaward North Cos. Parks Resorts division, already operates 13 retail outletas in Yellowstone for the NationalParkse Service. Terms were not disclosed. The hotelk was owned by Montana businessmen Clyde Seely andBill Howell. The deal is Delawarre North’s fourth for a hotel or lodgintg propertysince 2001. The 15-year-olx Holiday Inn is one of nearly 40 lodging propertie in and around the WestYellowstones area.
The hotel features a 175-seat restaurant, 125-seat lounge, 10,000-square-feett of meeting and function space plus otheer amenities including anindoor pool, hot tub, dry sauna and fitness center. “We took interest in Holiday Inn West Yellowstonre because of its its position as the West Yellowstone market leadet and its location at the gateway to one of the most belovedfof America’s parks,” said Kevin Delaware North Cos. Parks & Resorts president. “It fits our profile of a speciao place.” Kelly said the hotel will keep the Holidayu Inn brand affiliation for at least another10 years.
The Holidayy Inn West Yellowstone is one of 15 lodging North American lodging properties Delaware Nortyh ownsor operates. Delaware North has eight in YosemiteNational Park, including the historic Ahwahneee Lodge. Kelly said Delawarde North will be making some changee to the hotel while also bringingits “culinary expertise” to the
Sunday, January 15, 2012
Times' retirement plan hit by $154M loss - Sacramento Business Journal:
uhetemejih.wordpress.com
Net assets of the plan for the Times, which owns the Globse and T&G, fell to $417.7 The plan was particularly hard hit bysome $171.r million in losses within several mutuap funds. For example, the plan’s largesgt holding, the Vanguard 500 Index Investment suffered a nearly 40 percent lossin value. Anothefr fund in the portfolio, the Vanguard Asset AllocationhInvestment fund, dropped nearly 32 percent year-over-year. Only one of its major fund holdings, the Dodgr & Cox Income Fund, posted a positive return in 2008. Investments in fixed income and insurance assetsgenerated $5.3 milliohn in income. Dividend income of $11.67 million also helped offset losses.
Interest income from the company’ s borrowing from its retirement fundtotaled $594,000. The Timese has traditionally matched a fraction of Globe contributions totheir 401(k) accounts, however a proposal in frongt of leadership would eliminate the
Net assets of the plan for the Times, which owns the Globse and T&G, fell to $417.7 The plan was particularly hard hit bysome $171.r million in losses within several mutuap funds. For example, the plan’s largesgt holding, the Vanguard 500 Index Investment suffered a nearly 40 percent lossin value. Anothefr fund in the portfolio, the Vanguard Asset AllocationhInvestment fund, dropped nearly 32 percent year-over-year. Only one of its major fund holdings, the Dodgr & Cox Income Fund, posted a positive return in 2008. Investments in fixed income and insurance assetsgenerated $5.3 milliohn in income. Dividend income of $11.67 million also helped offset losses.
Interest income from the company’ s borrowing from its retirement fundtotaled $594,000. The Timese has traditionally matched a fraction of Globe contributions totheir 401(k) accounts, however a proposal in frongt of leadership would eliminate the
Friday, January 13, 2012
Premier Power buys Italian solar developer - Sacramento Business Journal:
ejoxot.wordpress.com
The El Dorado Hills company (OTCBB: PPRW) did not disclose terms of the acquisition. The deal was basecd on an exchangeof shares, as opposed to cash, a company spokeswomanm said. Premier Power said it expectss the acquisitionto “significantly improve overall operating margins.” The companyh anticipates that it will begin to see substantial revenue growth in the second half of the year as a result of Italiaj projects. Premier Power said Italy is “arguably the world’s fastesf growing solar power market today.” The markety is expected to growto 3,000 megawattes by 2016, up from 325 megawatts in 2008.
Arco Energh also is a distributor for CanadianSolar CSIQ) and Suntech (NYSE: STP) as well as Solar Max and Power One invertors and othere system components. “Premier Power’s expertise in the engineering and integration of all types ofprojects — from utilith scale solar farms to ground-mount use of thin film, roof-top modules and large single and bi-directional trackers to building integrated roof-top systems — is unlikw any other company in Italy,” said Marco chief executive officer for Arco Energy, in a news “This versatility gives us the ability to seiz e both the immediate opportunity and remain in Italuy as a long-term player.
”
The El Dorado Hills company (OTCBB: PPRW) did not disclose terms of the acquisition. The deal was basecd on an exchangeof shares, as opposed to cash, a company spokeswomanm said. Premier Power said it expectss the acquisitionto “significantly improve overall operating margins.” The companyh anticipates that it will begin to see substantial revenue growth in the second half of the year as a result of Italiaj projects. Premier Power said Italy is “arguably the world’s fastesf growing solar power market today.” The markety is expected to growto 3,000 megawattes by 2016, up from 325 megawatts in 2008.
Arco Energh also is a distributor for CanadianSolar CSIQ) and Suntech (NYSE: STP) as well as Solar Max and Power One invertors and othere system components. “Premier Power’s expertise in the engineering and integration of all types ofprojects — from utilith scale solar farms to ground-mount use of thin film, roof-top modules and large single and bi-directional trackers to building integrated roof-top systems — is unlikw any other company in Italy,” said Marco chief executive officer for Arco Energy, in a news “This versatility gives us the ability to seiz e both the immediate opportunity and remain in Italuy as a long-term player.
”
Wednesday, January 11, 2012
Prince Fielder Rumors: Fielder-to-Mariners "Extremely Overblown" - Call to the Pen
gonyzyf.wordpress.com
Seattle Post Intelligencer (blog) | Prince Fielder Rumors: Fielder-to-Mariners "Extremely Overblown" C » |
Monday, January 9, 2012
Four ownership groups show interest in Coyotes, sale could keep NHL team in Glendale - Philadelphia Business Journal:
ivyhofy.wordpress.com
NHL court filings with the U.S Bankruptcy Courty handling the Coyotes Chapter 11 bankruptcy protection include a list of possible owners that would keep the team in They include: Howard Sokolowski and David Cynamon, ownerds of the Canadian Football League'a Toronto Argonauts; Chicago White Sox ownerr Jerry Reinsdorf; Coyotes minoritgy owner John Breslow; and an unnamed Phoenix-aresa business executive as possible Research in Motion CEO Jim Balsillide already has a $213 million offee on the table for the Coyotes and wouldx move the team to Ontario. The Coyotes have lost $316 million sincs moving to the Phoenix marketfrom Winnipeg, Canada, in 1996.
Balsillie'sd offer is expected to be substantially greater than any offe r to keep the team in RIM makes Blackberry smartphones and Balsillie is a billionairw who has made offersx for other NHL The NHL also got more legal back up Fridayfrom , the and Nationakl Basketball Assocation. The professional sports leagued argue in court filings that they should have controp overfranchises sales, moves and relocationzs in order to maintain the economic viability of their The NHL opposes Balsillie's effort to move the Phoenixd franchise back to Coyotes owner Jerry Moyes also said in June 5 court filingxs that a $100 milion cash infusionb he has put into the team should be treatedx as a debt the hockey team'd reorganization should reimburse him for.
Moyes wants to sell the Coyotes to Balsillid who contends hockey is not financially viablrin Glendale. Moyes' courf filings also downplayeda $750 million lease penalty the city of Glendales could file for if the Coyotesw break their 30-year lease at Jobing.com Moyes and Balsillie want the bankruptcy courft to discharge the lease as part of the team'sz Chapter 11.
NHL court filings with the U.S Bankruptcy Courty handling the Coyotes Chapter 11 bankruptcy protection include a list of possible owners that would keep the team in They include: Howard Sokolowski and David Cynamon, ownerds of the Canadian Football League'a Toronto Argonauts; Chicago White Sox ownerr Jerry Reinsdorf; Coyotes minoritgy owner John Breslow; and an unnamed Phoenix-aresa business executive as possible Research in Motion CEO Jim Balsillide already has a $213 million offee on the table for the Coyotes and wouldx move the team to Ontario. The Coyotes have lost $316 million sincs moving to the Phoenix marketfrom Winnipeg, Canada, in 1996.
Balsillie'sd offer is expected to be substantially greater than any offe r to keep the team in RIM makes Blackberry smartphones and Balsillie is a billionairw who has made offersx for other NHL The NHL also got more legal back up Fridayfrom , the and Nationakl Basketball Assocation. The professional sports leagued argue in court filings that they should have controp overfranchises sales, moves and relocationzs in order to maintain the economic viability of their The NHL opposes Balsillie's effort to move the Phoenixd franchise back to Coyotes owner Jerry Moyes also said in June 5 court filingxs that a $100 milion cash infusionb he has put into the team should be treatedx as a debt the hockey team'd reorganization should reimburse him for.
Moyes wants to sell the Coyotes to Balsillid who contends hockey is not financially viablrin Glendale. Moyes' courf filings also downplayeda $750 million lease penalty the city of Glendales could file for if the Coyotesw break their 30-year lease at Jobing.com Moyes and Balsillie want the bankruptcy courft to discharge the lease as part of the team'sz Chapter 11.
Saturday, January 7, 2012
Petro Resources CEO steps down - Houston Business Journal:
grigoriynirim.blogspot.com
Hall, who will remain with the company as vice chairmam ofthe board, was replaced as boards chairman by Gary Evans, effective May 22. Donald Kirkendall, president of Houston-base d Petro Resources (AMEX: PRC) will retain his executives position but has vacated his board Evansfounded , which was sold to in a $2.2 billioh transaction in June 2005, and then formed renewable energ y company Evans still serves as GreenHunter’s chairman and chieft executive. He is also chairman and chiefd executive ofIn addition, Ronald Ormand has joinedr Petro Resources as executive vice president and chief financial officer and will assumre Kirkendall’s spot on the board.
Ormand was most recently CFO of Gruy Petroleum and presidentof , a financial advisory and private investment firm focused on the energu industry. “We are looking forwardx to the new leadershipl from Gary and Ron in our mutual goal of changinb the direction of the company to more of an oil and gas operatoer with access to capital markets,” Hall said. “The company planzs to focus on acquisitions, low risk developmeny drilling, and new projects exhibitinbg repeatablesuccess opportunities.
”
Hall, who will remain with the company as vice chairmam ofthe board, was replaced as boards chairman by Gary Evans, effective May 22. Donald Kirkendall, president of Houston-base d Petro Resources (AMEX: PRC) will retain his executives position but has vacated his board Evansfounded , which was sold to in a $2.2 billioh transaction in June 2005, and then formed renewable energ y company Evans still serves as GreenHunter’s chairman and chieft executive. He is also chairman and chiefd executive ofIn addition, Ronald Ormand has joinedr Petro Resources as executive vice president and chief financial officer and will assumre Kirkendall’s spot on the board.
Ormand was most recently CFO of Gruy Petroleum and presidentof , a financial advisory and private investment firm focused on the energu industry. “We are looking forwardx to the new leadershipl from Gary and Ron in our mutual goal of changinb the direction of the company to more of an oil and gas operatoer with access to capital markets,” Hall said. “The company planzs to focus on acquisitions, low risk developmeny drilling, and new projects exhibitinbg repeatablesuccess opportunities.
”
Wednesday, January 4, 2012
TXCO files for Chapter 11 bankruptcy protection - San Antonio Business Journal:
tiqosi.wordpress.com
Attorneys for San Antonio-based TXCO (NASDAQ: TXCO) also filed a motion with the Bankruptcyh Court seeking approval foranticipated debtor-in-possession financing with prospectivew lenders. TXCO is currently in negotiationswith Ltd. and potentiallh others for a multiple draw-term loan facility with a totalk aggregate principal amountof $32 million. The debtor-in-possession financing woulfd allow TXCO to conduct businesswithoutg interruption. TXCO is working to minimize the impacft of the bankruptcy filing on its customersand employees. However, the bankruptcy court will have to approvew anyfinancing arrangement. U.S. Bankruptcy Judge Ronald B.
King is handling the case at theWestern District’s office in San TXCO officials say the bankruptcy filinfg was precipitated by a series of evente that severely impacted the company’ds liquidity. Particularly, extreme volatility in energy pricees and a crumbling global economy have made it difficulft for TXCO to raise equity capitaloor debt, according to a statement released by the According to the bankruptcy TXCO has assets of $431.9 million and totalo debts of $322.8 million. The compant also has more than 38 million shares of commonbstock outstanding. TXCO’s largest shareholder is , a companyu based in Milwaukee. Heartland owns 9.
1 percent of the company’se total stock, according to TXCO’s bankruptcy The company’s top five largest unsecured the bankruptcypetition shows, are Houston-based ($8 in Uvalde ($5.3 million); Dallas-based ($5.q1 million); in Dallas ($4.2 million); and in Houstonh ($2.9 million). The company also has retaineedAlbert S. Conly of to serves as the chief restructuring officer to assisf TXCO in the Chapter 11 reorganization. LLC has been retained as financial advisersd andinvestment banker. Goldman, Sachs & Co. has been hired as a financialp adviser in connection with any potential sale of asset proposed under thisbankruptcy filing.
TXCO is represented locallyt by bankruptcy attorneysDeborah D. Williamson and Lindseyt D. Graham with TXCO is an independent oil and gas company with interests in theMavericjk Basin, the onshore Gulf Coasy region and the Marfa Basin of Texas and westerjn Oklahoma. www.txco.com
Attorneys for San Antonio-based TXCO (NASDAQ: TXCO) also filed a motion with the Bankruptcyh Court seeking approval foranticipated debtor-in-possession financing with prospectivew lenders. TXCO is currently in negotiationswith Ltd. and potentiallh others for a multiple draw-term loan facility with a totalk aggregate principal amountof $32 million. The debtor-in-possession financing woulfd allow TXCO to conduct businesswithoutg interruption. TXCO is working to minimize the impacft of the bankruptcy filing on its customersand employees. However, the bankruptcy court will have to approvew anyfinancing arrangement. U.S. Bankruptcy Judge Ronald B.
King is handling the case at theWestern District’s office in San TXCO officials say the bankruptcy filinfg was precipitated by a series of evente that severely impacted the company’ds liquidity. Particularly, extreme volatility in energy pricees and a crumbling global economy have made it difficulft for TXCO to raise equity capitaloor debt, according to a statement released by the According to the bankruptcy TXCO has assets of $431.9 million and totalo debts of $322.8 million. The compant also has more than 38 million shares of commonbstock outstanding. TXCO’s largest shareholder is , a companyu based in Milwaukee. Heartland owns 9.
1 percent of the company’se total stock, according to TXCO’s bankruptcy The company’s top five largest unsecured the bankruptcypetition shows, are Houston-based ($8 in Uvalde ($5.3 million); Dallas-based ($5.q1 million); in Dallas ($4.2 million); and in Houstonh ($2.9 million). The company also has retaineedAlbert S. Conly of to serves as the chief restructuring officer to assisf TXCO in the Chapter 11 reorganization. LLC has been retained as financial advisersd andinvestment banker. Goldman, Sachs & Co. has been hired as a financialp adviser in connection with any potential sale of asset proposed under thisbankruptcy filing.
TXCO is represented locallyt by bankruptcy attorneysDeborah D. Williamson and Lindseyt D. Graham with TXCO is an independent oil and gas company with interests in theMavericjk Basin, the onshore Gulf Coasy region and the Marfa Basin of Texas and westerjn Oklahoma. www.txco.com
Monday, January 2, 2012
Ryan does
symowugebeda.blogspot.com
He’s implemented a system with all its ingredients cominhg togetherto jell, using his common-sensse approach to management that happens to coincidse with the book’s key principles. Among Collins’ preceptsx being executed in Arlingtonthese days, Ryan identifief what Collins calls the “Onde Big Right Thing,” being the one centrall goal that can drivew a company to its highesr level, around which all aspects of the organizationm are built. For the Ryan says, that one thing is: “Having a competitive team on the field, which drivesx everything in our operation.
If we’re competing well in every game, and winning our share becausee of our improved pitching and to go with the great hitting we’ve always had, more fans will attensd our games, more will buy our merchandisre and more will follosw us on television and radio, causing more companiesa to be sponsors.” He’s rigorous in making personnel Using Collins’ metaphor, Ryan’s gotten the right people on the bus, put them in the righy seats and gotten the wrong people off the bus. He says his greatesty accomplishment thus faris “bringing in an outstanding staff of qualitgy baseball people who have a passion for the game.
”
He’s implemented a system with all its ingredients cominhg togetherto jell, using his common-sensse approach to management that happens to coincidse with the book’s key principles. Among Collins’ preceptsx being executed in Arlingtonthese days, Ryan identifief what Collins calls the “Onde Big Right Thing,” being the one centrall goal that can drivew a company to its highesr level, around which all aspects of the organizationm are built. For the Ryan says, that one thing is: “Having a competitive team on the field, which drivesx everything in our operation.
If we’re competing well in every game, and winning our share becausee of our improved pitching and to go with the great hitting we’ve always had, more fans will attensd our games, more will buy our merchandisre and more will follosw us on television and radio, causing more companiesa to be sponsors.” He’s rigorous in making personnel Using Collins’ metaphor, Ryan’s gotten the right people on the bus, put them in the righy seats and gotten the wrong people off the bus. He says his greatesty accomplishment thus faris “bringing in an outstanding staff of qualitgy baseball people who have a passion for the game.
”
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