Wall Street Struggles as It Awaits Earnings
12 July 2010
Alcoa will kick off the earnings reports later on Monday, and investors will try to glean information about the economy.
| |
Kumba, ICT debacle worries foreign investors in South Africa
12 July 2010
The core question is how ICT stumbled on deep secrets, worth billions of rands, so very early.
Posted in Stock Advice0 Comments
The Blog Jezebel Is Not Afraid to Pick a Fight
12 July 2010
In its usual controversial tone, Jezebel, a blog for women, garnered more than 211,000 page views on a post calling “The Daily Show” sexist.
Posted in Money Commentary0 Comments
UPDATE 2-Couche-Tard extends takeover offer for Casey’s
12 July 2010
* Couche-Tard shares up as much as 4 percent (Updates with Casey's response, analyst note, shares. In U.S. dollars unless noted)
Posted in Merger news0 Comments
Oyu Tolgoi’s bells and whistles
12 July 2010
Rio Tinto vs. Ivanhoe: A strange spat over Mongolia's Oyu Tolgoi spills into the open.
Posted in Stock Advice0 Comments
Hunter Dickinson to invest up to $60 million in European Nickel
12 July 2010
Shares in European Nickel (LON:ENK) soared more 30 percent in early trading as it brought on board a heavyweight investor that will take a US$60 million stake in the miner. Canada’s Hunter Dickinson (HDI) will buy stock in two tranches. It will acquire US$5 million-worth shares in a private placement immediately, followed by the major investment in the final quarter of 2010. This will coincide with successful completion of talks with a consortium of banks to provide US$300 million of finance for the company’s Caldag nickel project in Turkey. The announcement is a major positive on two levels. First it is major feather in the cap for deputy chairman Simon Purkiss and his team to have signed up Hunter Dickenson, a world renowned mining investment firm. But perhaps more interesting are the terms on which the deal is being done, with shares placed at well above their current market value. The initial stake sale will be completed at 32p a share – which compares to a Friday closing price of 17p – while the second tranche is being done at 44p. Purkiss said: ‘I am delighted to welcome Hunter Dickinson as a strategic partner and new shareholder. ‘HDI has an exceptional track record in advancing
Posted in Finance news0 Comments
China MediaExpress ups earnings guidance
12 July 2010
China MediaExpress Holdings has upgraded earnings guidance and revealed it is looking at potential acquisition opportunities. The group, whose television adverts are shown on buses in the People’s Republic, said it expects net income to be in the range of US$82 million to US $85 million in 2010. This compares with a previous guidance that suggested profits would be $71 million to $75 million. The upbeat tenor of the latest update to trading boosted the shares US$1.25, or more than 10 per cent, to US$10.82. CME’s chief executive Jacky Lam said: ‘We expect to continue to benefit from China's rapid increase in advertising spending - which is projected to remain one of the fastest growing advertising markets in the world - sustained economic growth, and increases in disposable income and domestic consumption. ‘We plan to continue to grow our business organically and we are also actively looking for acquisition opportunities within our core business platform. ‘Furthermore, we are working hard to finalise several new projects which we believe will further enhance CME's shareholder value. ‘We have sufficient resources to fund our business expansion plans, including internal growth initiatives as well as potential acquisitions.’
Posted in Finance news0 Comments
Accuri Cytometers Raises $6 Million
12 July 2010
Accuri Cytometers Inc. , an Ann Arbor, Mich.-based provider of flow cytometers for life science research, has raised $6 million in Series E funding. Return backers include Arboretum Ventures, Baird Venture Partners, Fidelity Biosciences, Flagship Ventures and InvestMichigan. PRESS RELEASE Accuri Cytometers, Inc., a world leader in providing life science researchers with easy-to-use, cost-effective flow cytometers, today announced completion of a $6 million Series E preferred stock financing. The financing included current investors Arboretum Ventures, Baird Venture Partners, Fidelity Biosciences, Flagship Ventures and the InvestMichigan! Program co-managed by Credit Suisse. Accuri plans to use the proceeds from the Series E financing to support expansion of the Accuri C6 Flow Cytometer® System into the clinical in vitro diagnostics (IVD) market. The Accuri C6 is a revolutionary product designed to bring the power of flow cytometry analysis to every life sciences and biomedical laboratory. Explicitly designed for routine use by scientists in their own labs, Accuri’s flow cytometer is a full-featured bench-top cell analysis system that provides capabilities similar to industry-leading flow cytometers in a much more user-friendly format and at a fraction of the cost. “Fueled by our continued sales growth in the U.S. and Europe and our recent expansion into international markets in Asia and South America, Accuri is now one of the fastest growing cell analysis companies worldwide,” said Jeffrey Williams, President and CEO of Accuri. “This financing round will enable us to respond to a rising number of requests for an Accuri flow cytometer for clinical diagnostic applications, providing the same benefits of high performance, cost-effectiveness and ease-of-use experienced by our life science research customers.” Accuri is currently implementing an ISO13485 Quality System in preparation for the planned European launch of the Accuri C6 Flow Cytometer with CE-IVD mark certification for clinical use, to be followed by a 510 (K) regulatory submission to the Food & Drug Administration seeking clearance to market the Accuri C6 Flow Cytometer for clinical IVD applications in the U.S. Dr. Francis Mandy, Consultant to the International Center for Infectious Diseases in Winnipeg, Canada, commented, “It is welcome news that Accuri is proceeding with the development of a clinical version of the C6 flow cytometer–the compact platform offers performance to match and exceed clinical demands with ease-of-use and affordability.” The Accuri C6 Flow Cytometer is not currently cleared for human clinical in vitro diagnostic use by the U.S. FDA. About Accuri Cytometers Accuri Cytometers, Inc. is a life sciences company developing and marketing revolutionary high performance cell analysis systems designed to bring the power of flow cytometry into life science and biomedical labs everywhere. Reflecting the input of hundreds of researchers, the Accuri C6 Flow Cytometer is a full-featured bench-top cell and bead analysis system that provides similar capabilities to those of industry-leading flow cytometers in an easy-to-use format and at a fraction of their cost. The Accuri system was engineered from the start to be compact, powerful and user-friendly, while also being affordable by most research laboratories. The Accuri CSampler® adds simple, reliable and user-friendly automation to the Accuri C6 Flow Cytometer System. For more information, please visit www.accuricytometers.com. About Arboretum Ventures Arboretum Ventures is an early-stage venture capital firm specializing in the healthcare sector. Arboretum invests throughout the United States, with a special interest in the Midwest region. Founded in 2002 with headquarters in Ann Arbor, Mich., Arboretum Ventures currently manages $97 million in capital. For more information, please visit www.arboretumvc.com. About Baird Venture Partners Baird Venture Partners, the U.S.-based venture capital fund of Baird Private Equity, makes venture capital investments in early and expansion stage business services and life sciences companies. Baird Venture Partners leverages its in-depth sector knowledge, experienced investment team and network of relationships to serve as a value-added partner for its portfolio companies. For more information, please visit www.bairdventurepartners.com. About Fidelity Biosciences Fidelity Biosciences is headquartered in Cambridge, Massachusetts and invests in biopharmaceutical and medical technologies across a variety of markets including therapeutic, diagnostic, medical device, and discovery tools. It is led by a seasoned investment team with diverse backgrounds representing more than 200 years of experience in science, industry and finance. The depth of the team’s expertise enables Fidelity Biosciences to be engaged investors and board members seeking to add value through a mix of strategic guidance and hands-on leadership. Fidelity Biosciences is privately owned by FMR LLC, the parent company of Fidelity Investments, along with other investors associated with FMR LLC, and has a clear focus on building long-term value. For more information, please visit www.fidelitybiosciences.com. About Flagship Ventures Flagship Ventures is a leading venture capital firm focused on creating, financing and building companies that will transform the future of life sciences and cleantech. Founded in 2000, Flagship manages over $600 million in early-stage funds and operates from its offices at Kendall Square in Cambridge, MA. With an active portfolio of over 40 companies, Flagship has a track record of building highly innovative and successful companies across its principal business sectors: Therapeutics, Life Science Tools & Diagnostics, and BioEnergy/Cleantech. For more information, please visit www.flagshipventures.com. About Credit Suisse Credit Suisse AG is one of the world’s leading financial services providers and is part of the Credit Suisse group of companies (referred to here as ‘Credit Suisse’). As an integrated bank, Credit Suisse offers clients its combined expertise in the areas of private banking, investment banking and asset management. Credit Suisse provides advisory services, comprehensive solutions and innovative products to companies, institutional clients and high-net-worth private clients globally, as well as to retail clients in Switzerland. Credit Suisse is headquartered in Zurich and operates in over 50 countries worldwide. The group employs approximately 48,300 people. The registered shares (CSGN) of Credit Suisse’s parent company, Credit Suisse Group AG, are listed in Switzerland and, in the form of American Depositary Shares (CS), in New York. Further information about Credit Suisse can be found at www.credit-suisse.com.
Posted in Finance, Venture Capital Deals0 Comments
Mobile Iron Raises $16 Million
12 July 2010
Mobile Iron Inc. , a Mountain View, Calif.-based developer of a virtual smartphone platform, has raised around $16 million in Series C funding, according to a regulatory filing. Past backers include Storm Ventures, Sequoia Capital, Norwest Venture Partners and Big Basin Ventures. www.mobileiron.com
Posted in Venture Capital Deals0 Comments
Auxilium Pharmaceuticals’ XIAFLEX drives revenues following launch in US
12 July 2010
In a trading update, Auxilium Pharmaceuticals (NASDAQ:AUXL) told investors that its newly launched treatment of Dupuytren's contracture, XIAFLEX, has generated revenues of $3.1m in the second quarter. The company also highlighted it continues to sign-up new physicians and sites, since it launched the product earlier this year. "Having completed the first full quarter of the launch of XIAFLEX, the first approved, non-surgical treatment for the treatment of Dupuytren's contracture, we believe that we are making good progress on our launch objectives as we work to change the treatment paradigm for this disease",
Posted in Finance news0 Comments
eBay and Microsoft in cloud computing agreement
12 July 2010
Microsoft Corp (NASDAQ: MSFT) and eBay (NASDAQ: EBAY) today announced that eBay will be one of the first customers of Microsoft's new Windows Azure platform appliance for cloud computing, following a successful pilot deployment. EBay said in a statement that this is a significant joint engineering effort that will couple the innovation and power of the Windows Azure platform appliance with the technical excellence of eBay's platform -- to deliver an automated, scalable, cost-effective datacenter solution. The Windows Azure platform appliance is the first turnkey cloud platform for large service providers and enterprises to deploy in their own datacenters. EBay will incorporate the Windows Azure platform appliance into two of its data centers to further optimize its platform and achieve greater strategic agility and datacenter efficiency. The Windows Azure platform appliance consists of Windows Azure, Microsoft SQL Azure and a Microsoft-specified configuration of network, storage and server hardware. EBay and Microsoft will deploy the Windows Azure platform appliance this year.
Posted in Finance news0 Comments
Tenaska Completes InfrastruX Sale
12 July 2010
Willbros Group Inc. has completed its acquisition of InfrastruX Group Inc. , a utilities services company backed by Tenaska Capital Management . The deal was valued at $480 million in cash and stock. The deal closing was disclosed by InfrastruX, in an SEC filing that withdrew registration for a $290 million IPO. Tenaska had acquired InfrastruX from Puget Energy Inc for $275 million in 2006.
Posted in Venture Capital Deals0 Comments
SafeNet Files for $300 Million IPO
12 July 2010
SafeNet Inc. , a Belcamp, Md.-based information security company owned by Vector Capital , has filed for a $300 million IPO. plans to trade on the Nasdaq under ticker symbol SAFE, with Morgan Stanley, Goldman Sachs and J.P. Morgan serving as co-lead underwriters. The company reports a $49.7 million net loss in 2009 on $403.7 million in revenue. This compares to a $126.5 million net loss in 2008 on $329 million in revenue. www.safenet-inc.com
Posted in Venture Capital Deals0 Comments
UPDATE 3-Aon to buy Hewitt for $4.9 bln, creating HR giant
12 July 2010
* Aon shares down 7 pct; Hewitt up 33.6 pct (Adds analyst comment, details; updates share prices)
Posted in Merger news0 Comments
UPDATE 1-Ivanhoe, Rio lock horns over shareholder rights plan
12 July 2010
TORONTO, July 12 (Reuters) - Canadian miner Ivanhoe Mines said on Monday it will defend its shareholder rights plan in arbitration proceedings that have been initiated by its largest shareholder and partner Rio Tinto .
Posted in Merger news0 Comments
UPDATE 2-Avon buying jewelry direct seller Silpada
12 July 2010
* Shares up 1 pct in early trading (Adds CEO comment, advisers and share move)
Posted in Merger news0 Comments
NEC Holdings gets $134.5 mln bid from Gores Group
12 July 2010
July 12 (Reuters) - Los Angeles-based private-equity firm The Gores Group has sought bankruptcy court approval to buy NEC Holdings Corp, a privately held envelope maker, for $134.5 million, subject to higher bids at an auction.
Posted in Merger news0 Comments
CORRECTED – (OFFICIAL)-Online ad firm Adsmarket sees sales up 33 pc
12 July 2010
(Company corrects spelling of CEO's last name to Druker from Drucker throughout)
Posted in Merger news0 Comments
Adeptron partners with Mexican manufacturing facility
12 July 2010
Electronics Manufacturing Services (EMS) provider Adeptron Technologies Corp (TSX:ATQ) said it has partnered with a successful EMS provider in Mexico. The new partner also provides procurement opportunities through offices in Hong Kong and Japan. The Mexican facility assembles and integrates products such as Plasma and LCD TVs, marine GPS devices, mobile and Bluetooth devices and climate control devices. Assembly is conducted in a 42,000 square feet facility that houses eight high speed SMT lines and five hand mount lines. Adeptron CEO Michael Marti said: "Many North American companies recognize that in light of changes in the manufacturing sector in Asia, particularly in China, Mexico often represents a superior alternative when measured on a total cost of delivered product basis. Mexico is part of the North American Free Trade Agreement, enjoys fast and inexpensive trucking of goods to delivery sites and has a well educated workforce at a cost that competes well with other low cost geographies.” “Adeptron's partner handles new product introduction (NPI), medium to high volume printed circuit board assembly (SMT, BGA, and PTH), system integration, advanced X-ray inspection and various platforms of in-circuit test. We believe that this new service offering will be a significant addition to our sales and marketing efforts," he added. Adeptron offers world class manufacturing facilities and global partners throughout Canada, the United States, Israel and China.
Posted in Finance news0 Comments
UPDATE 2-Hugh Hefner offers to take Playboy private
12 July 2010
* Hefner offers to buy all shares he doesn't current own
Posted in Merger news0 Comments
Cadillac Ventures: Developing Eighteen Prospective Projects with Strong Financial Backing
12 July 2010
A quick look at Cadillac Ventures' recent news releases – there have been 20 already this year – provides a flavour of the extensive projects, networks and financial backing of this young exploration company, and the speed with which it works. In January 2010, for example, Cadillac acquired Richview Resources and thus 100% ownership of the past-producing polymetallic Thierry mine in Northern Ontario and the nearby Pickle Gold project.
Posted in Finance news0 Comments
Uranium prices poised to jump as China builds stockpile
12 July 2010
Uranium is heading for a supply shortage with huge capital programs under way for building new reactors with China already stockpiling
Posted in Stock Advice0 Comments
Sale of gold ‘biscuits’ shining in Mumbai
12 July 2010
With jewellers offering gold accumulation schemes Indian consumers are tuning into gold bars as an investment opportunity and are preferring to take delivery of physical gold
Posted in Stock Advice0 Comments
Report: Adsmarket Raises $17 Million
12 July 2010
Adsmarket , an Israeli provider of performance-based online advertising solutions, has raised $17 million from Viola Private Equity at an $80 million pre-money valuation. The news was first reported by TechCrunch .
Posted in Venture Capital Deals0 Comments
Hugh Hefner Bids To Take Playboy Private
12 July 2010
NEW YORK (Reuters) - Playboy Enterprises Inc ( PLA.N ) said on Monday it received an offer from founder Hugh Hefner to take the company private in a deal which values the company at around $185 million. Hefner has offered to buy all shares he doesn’t currently own for $5.50 per share in cash, a premium of about 40 percent to its closing price of $3.94 on Friday. He already owns around 69.5 percent of Playboy’s Class A common stock and 27.7 percent of its Class B stock. Playboy said Hefner is partnering with Rizvi Traverse Management, which has said it will raise financing for the transaction from major lenders. The company said that in Hefner’s proposal letter he is not interested in any sale or merger of Playboy Enterprises, selling Hefner’s shares to any third party or entering into discussions with any other financial sponsor for a similar transaction. (Reporting by Yinka Adegoke , editing by Gerald E. McCormick)
Posted in Finance, Venture Capital Deals0 Comments
OCA Ventures Backs National Billing Partners
12 July 2010
National Billing Partners LLC , a Chicago-based provider of financial services for healthcare providers, has raised an undisclosed amount of funding from OCA Ventures . PRESS RELEASE Venture capital firm OCA Ventures announced today the first institutional financing round for National Billing Partners, LLC (NBP), a healthcare services firm that specializes in billing and collections, coding audits and reviews and other financial services. NBP plans to use the funding for sales and marketing growth and operational expansion. “As a company that alleviates billing pain points for physicians practices and medical facilities, National Billing Partners provides a crucial service in the healthcare industry,” said Eddie Lou, General Partner for OCA Ventures. “The company’s leadership team has built several successful healthcare companies in the past; we are excited to work with them to build a great business serving the healthcare financial services industry.” “We have known OCA Ventures over the past six years and are excited to have them as partners in National Billing Partners,” said Ned Schwing, co-founder of National Billing Partners. “The company had many financing options and we are excited to be working with OCA.” National Billing Partners’ comprehensive service offering for high-acuity specialties and facility based programs includes billing and accounts receivable management, coding audits and reviews, claims follow-up, denial management, insurance verification, compliance support and practice benchmarking. The company also offers a diverse range of advisory services, including managed care contracting and negotiation, credentialing support and practice management interventions. By outsourcing these functions to NBP, a healthcare provider can significantly increase practice revenue and upgrade their ability to collect and track information. Because a practice can also reduce administrative staffing and costs by outsourcing with NBP, their services do not represent a significant incremental expense. Visit www.mybillingpartner.com for more information. About OCA Ventures OCA Ventures is a venture capital firm focused on equity investments in companies with dramatic growth potential, primarily in technology and highly-scalable services businesses. OCA invests in many industries, with a preference for financial services and for-profit education. Over the last decade, OCA has invested three funds in over 30 companies. OCA Ventures manages in excess of $90 million of capital commitments and has invested in over 30 companies since it began investing in 1999. OCA Ventures partners with proven entrepreneurs to build market-leading companies. OCA Ventures complements management teams with a wide range of strategic, human and financial resources. For more information, please visit www.ocaventures.com.
Posted in General, Venture Capital Deals0 Comments
Brazil antitrust rulings may be delayed – report
12 July 2010
SAO PAULO, July 12 (Reuters) - The Brazilian Senate's failure to extend the mandate of two top councilors at the nation's antitrust agency could result in a delay in rulings in a series of key corporate takeovers, newspaper Valor Economico reported on Wednesday.
Posted in Merger news0 Comments
Monomoy Buys Carrier’s Heat Transfer Biz
12 July 2010
Monomoy Capital Partners and Starboard Capital Partners have acquired the heat transfer products business of Carrier Corp ., a unit of United Technologies Corp. (NYSE: UTX). No financial terms were disclosed. The unit has more than 500 employees and around $90 million in 2009 revenue. PRESS RELEASE Carrier Corp. has sold its Heat Transfer Products Group (HTPG) business to Monomoy Capital Partners, L.P. and Starboard Capital Partners, LLC. Carrier Corp., a unit of United Technologies Corp. (NYSE: UTX ), is the world’s leader in high technology heating, air-conditioning and refrigerat1ion solutions, improving the world around us through engineered innovation and environmental stewardship. HTPG, with 2009 revenues of approximately $90 million and more than 500 employees, is a leading manufacturer of commercial refrigeration components for the food service and food retail market segments. It is headquartered in Brea, California and has manufacturing facilities in Scottsboro, Ala. and Yuma, Ariz. “HTPG has a leading market presence, reputable brands and a solid product portfolio,” said Geraud Darnis, president, Carrier Corp. “We’re pleased that its combination with Monomoy will enhance its growth potential.” “The transaction is a continuation of our strategy to increase focus on our core growth platforms which include our large and successful food retail refrigeration business in Europe and Asia ,” added Darnis. About Carrier Corp. Carrier Corp. is the world’s leader in high technology heating, air-conditioning and refrigeration solutions. Carrier experts provide sustainable solutions, integrating energy efficient products, building controls, and energy services for residential, commercial, retail, transport and foodservice customers. Founded by the inventor of modern air conditioning, Carrier improves the world around us through engineered innovation and environmental stewardship. Carrier is part of United Technologies Corp., a leading provider to the aerospace and building systems industries worldwide. Visit www.carrier.com for more information.
Posted in Venture Capital Deals0 Comments
Starwood Capital Adds One, Loses One in India
12 July 2010
Sundaram Rajago is rejoining Starwood Capital Group as managing director of India and Southeast Asia. He had left the firm in 2005 to join Third Point India, after which he went to Lehman Brothers. He will succeed Balaji Rao , who is leaving the firm “ to pursue other interests.” PRESS RELEASE Starwood Capital Group, a leading global private equity firm focused on real estate and energy infrastructure, announced today that Sundaram V. Rajagopal is rejoining the firm as Managing Director, India and Southeast Asia , Starwood Capital India Advisors Private Limited. In this role, Mr. Rajagopal will lead all acquisition and asset management activities for Starwood Capital in India and Southeast Asia and will manage the team based in Mumbai, India . Mr. Rajagopal brings more than 17 years of real estate experience to the position, including nearly 10 years executing real estate investments in India . He previously worked at Starwood Capital Group from 2002 to 2005. Since opening its office in Mumbai in 2006, Starwood Capital has actively pursued a number of investment opportunities in major developments in various markets, along with strategic investments in operating platforms across India , including investing in a landmark office project in Mumbai ’s Bandra Kurla district currently under construction. Mr. Rajagopal brings a wealth of experience to his position, particularly in India . He most recently served as the Managing Director and Country Head for Lehman Brothers’ Real Estate Partners’ activities in India , where he developed and executed Lehman’s entry into real estate private equity in India and invested approximately $300 million of equity across ventures and asset classes. Prior to joining Lehman Brothers in 2006, Mr. Rajagopal served as the Managing Partner for Third Point India, LLC, a partnership dedicated to real estate, and other special situation investments in India . He joined Third Point India from Starwood Capital Group, where he served as a Vice President focused on transaction execution for a variety of asset classes in the United States and Europe over a period of three years. “We are thrilled to welcome back Raj, a home grown talent, who has broadened and deepened his knowledge and experience in real estate since he left our Greenwich office to run Lehman’s operations in India ,” said Barry Sternlicht , Chairman and CEO of Starwood Capital Group. ”Raj is well-versed in our core risk-reward discipline, our focus on creating value, aligning interests and on building meaningful and important relationships within our firm, with our investors and with our partners.” Mr. Rajagopal holds a B.S. in Civil Engineering from the University of Texas at Austin , an M.S. in Structural Engineering from the University of California at Berkeley and an M.B.A. with distinction from Harvard Business School . Starwood Capital Group also announced today that Balaji Rao , Managing Director of Starwood Capital India Advisors Private Limited, is leaving the Company to pursue other interests. Mr. Rao has agreed to continue working with Starwood Capital during the interim period to transition his responsibilities to Mr. Rajagopal. “Balaji has been an integral part of our growing operations in India and we are very grateful for his many contributions during his time with us,” Mr. Sternlicht said. ”We wish to thank Balaji for his important work in building Starwood’s presence in India and wish him well in all his future endeavors. We will continue to build upon the groundwork he has helped establish by seeking new opportunities under Raj’s leadership and growing our business interests within the country.” About Starwood Capital Group Global, LLC Starwood Capital is a private, U.S.-based investment firm with a core focus on global real estate. Since the group’s inception in 1991, the firm, through its various funds, has invested more than $6 billion of equity capital, representing $21 billion in assets. Starwood currently has approximately $14 billion of assets under management. Starwood maintains offices in Greenwich , Atlanta , San Francisco , Washington, D.C. , London , Mumbai and Tokyo . Starwood has invested in nearly every class of real estate on a global basis, including office, retail, residential, senior housing, golf, hotels, resorts and industrial assets. Starwood and its affiliates have successfully executed an investment strategy that includes building enterprises around core real estate portfolios in both the private and public markets.
Posted in Venture Capital Deals0 Comments
Hilco Consumer Capital Names New CEO
12 July 2010
Mitchell Berk has been named CEO of Hilco Consumer Capital . He most recently founded and ran Vortex LLX. PRESS RELEASE Jeffrey B. Hecktman , Chairman and CEO of Hilco Trading, LLC, parent company of Hilco Consumer Capital, LLC (”HCC”), announced today the appointment of Mitchell C. Berk as Chief Executive Officer of HCC. HCC is a world leader in consumer product brand management and licensing, with a stellar portfolio of assets that includes Polaroid, Sharper Image, Halston, Linens ‘N Things, Bombay Co., Ellen Tracy and Caribbean Joe. Mr. Berk will assume the CEO position from Eric Kaup , who has served on an interim basis since February, 2010. Mr. Kaup, who also serves as general counsel for Hilco Trading, will remain actively involved with HCC’s current brand portfolio, new licensing agreements and brand acquisitions. Mr. Berk is a successful business owner and operator, whose entrepreneurial skills and style combine vision with superb managerial, marketing and sales acumen. His greatest success came as founder and chief executive of Entertainment Marketing, Inc. (”EMI”), a company that pioneered in the entertainment, sports and lifestyle marketing categories. Over two decades, EMI innovated and produced breakthrough campaigns to help launch and build brands for Anheuser-Busch, Phillip Morris , The Dole Foods, Burger King, General Mills, Pfizer, Hanes Hosiery, Adagio Brands and others. EMI leveraged music groups such as The Rolling Stones and Earth, Wind and Fire, and artists including Tina Turner , Celine Dion , Kenny Rogers and Tim McGraw to create exceptional marketing and sales results for clients. Most recently, Mr. Berk founded and served as CEO of Vortex, LLC, a strategic consulting and capital provider for high-growth media and marketing enterprises in the consumer products, sports and music fields. Early in his career, Mr. Berk served as a key marketing and sales executive for Jovan Fragrances, where he helped the company achieve a fourfold growth in revenues through corporate partnerships with musical groups. As CEO of Hilco Consumer Capital, Mr. Berk will focus on building value within the current portfolio of brands as well as new brand acquisitions. ”I see enormous potential for Mitch Berk to extend our current brands into new sectors through creative licensing arrangements and acquisitions of iconic brands. Additionally, Hilco will benefit from Mitch’s expertise in forging synergistic relationships with high-profile celebrities in sports and entertainment, who can help us build greater brand awareness and preference. He is the ideal fit to lead HCC,” said Mr. Hecktman. Commenting on his new role, Mr. Berk said, “The opportunities to create incremental growth for HCC are tremendous. I am excited to be a part of the diverse and dynamic Hilco organization. This is a great opportunity for me, both on a business level and culturally. I am committed to adding great value in the years ahead.” About Hilco Consumer Capital and Hilco Trading, LLC Hilco Consumer Capital, LLC (”HCC”) ( www.hilcocc.com ), headquartered in Toronto , is a private equity firm that makes strategic investments in consumer lifestyle brands. It is a unit of Hilco Trading, LLC (”Hilco”), ( www.hilcotrading.com ) a Chicago -based, international provider of diversified financial and operational services, including business asset valuations, asset acquisitions and disposition services, and business advisory services, including retail consulting, investment banking and distressed debt management. Hilco also owns three private equity investment platforms, of which HCC is one. In the aggregate, Hilco has investments in 19 portfolio companies in the United States , Canada , the United Kingdom and France . Together, these companies employ more than 10,000 people and show revenues approximating USD $2 billion . Hilco has offices throughout North America and in the United Kingdom .
Posted in General, Venture Capital Deals0 Comments
Techmeme Offers Tech News at Internet Speed
12 July 2010
Techmeme uses algorithms to constantly find the latest tech news, and has added a human editor too.
Posted in Money Commentary0 Comments
UPDATE 1-Sparton to buy some assets of medical devices maker
12 July 2010
* To buy contract manufacturing unit from Delphi Medical
Posted in Merger news0 Comments
Inside Europe: Euro Zone Sees Signs of a Turning Point
12 July 2010
Evidence comes from the financial markets, which are calmer; the real economy, which is perkier; and policy, which is responding, at last, to at least some investor concerns.
Posted in Money Commentary0 Comments
Aon Buys Hewitt in Move to Expand Its Consulting Arm
12 July 2010
The insurance broker agreed to pay $4.9 billion in cash and stock for the human resources company.
Posted in Money Commentary0 Comments
UPDATE 1-Pengrowth Energy Trust to buy Monterey for C$336 mln
12 July 2010
* Offer at premium of 94 pct to Monterey's Friday close
Posted in Hot stocks0 Comments
China entering into strategic tie-ups with Australian iron ore miners.
12 July 2010
But, with inflation raising its head, demand is tapering off and India is worried about losing ground.
Posted in Stock Advice0 Comments
Minera IRL reports ‘excellent progress’ with PFS at Ollachea gold project, on track for Q1 2011 completion
12 July 2010
Latin American precious metal miner Minera IRL (LON, BVL: MIRL, TSX: IRL) has said that its pre-feasibility study (PFS) on the Ollachea gold project in Peru remained on track after “excellent progress” was made with data gathering. Mineral IRL has retained engineering and construction firm AMEC (Per
Posted in Finance news0 Comments
Seasonal impact means recent pull backs in gold could be short lived
12 July 2010
Despite continued strong demand, gold may trade sideways for a few weeks before the next break to the upside.
Posted in Stock Advice0 Comments
Kazakhstan annuls KazakhGold share sale to Polyus Gold
12 July 2010
The announcement by the Kazakh government could jeopardise plans to merge the two gold miners
Posted in Stock Advice0 Comments
Follow Us On Twitter/MarketMomentum
Penny Stocks Quotes
| DJIA | 10467.16 | ||
| NASDAQ | 2251.69 | ||
| S&P 500 | 1101.53 | ||
| MSFT | 26.03 | ||
| MCD | 69.38 | ||
| AWSL | 0.00 | ||
| KFT | 29.11 | ||
| GOOG | 484.99 | ||
| WMT | 51.06 | ||
| JNJ | 57.83 | ||
| MRK | 35.06 | ||
| NOVL | 5.98 | ||
| BA | 67.22 | ||
| GSAE | 0.00 | ||
| XOM | 60.34 | ||
| INTC | 21.03 | ||
| PFE | 15.09 | ||
| KO | 54.99 | ||
| VZ | 28.88 | ||
| TOC | 0.00 | ||
| T | 26.02 |
