Will Boom bust Harbrew's hopes? Nov 21, 2009
It appears other shareholders agreed with their decision to reject the bid, as the $15 million placement and the institutional component of the rights issue were fully covered last night. Harbrew has until today to decide whether it will take up its rights. (Sydney Morning Herald -- Business)
Volkswagen Supervisory Board Approves Porsche Contracts in Move on Merger Nov 21, 2009
Porsches controlling shareholders, the Porsche and Piech families, also approved the documents after meeting today at Volkswagens headquarters in Wolfsburg, Germany, the sports-car manufacturer said in an e-mailed statement ... Volkswagen will ask shareholders on Dec. 3 to approve a sale of preferred stock to help finance the Porsche purchase. (Bloomberg -- Germany)
President swept up in Indonesian corruption scandal Nov 21, 2009
At the heart of the corruption scandal sweeping the country is the $760 million rescue of Bank Century last year, a small bank dominated by shareholders and depositors from some of Indonesia's richest families ... The size of the bail-out also grew five times beyond that authorised by parliament, and went direct to select shareholders and depositors, rather than re-capitalising the bank so it could begin trading again. (Sydney Morning Herald -- World)
Africa's Biggest Wind Farm Runs Into Stormy Weather Nov 21, 2009
Last month, the shareholders of Turkana Wind Power were forced to go back to the drawing board after giant private equity player Globeleq of the United Kingdom, which had been negotiating to acquire a controlling stake in the project, quietly pulled out ... The exact reasons why the negotiations between Golobeleq and the shareholders of Turkana Wind Power faltered are still not clear ... Lake Turkana Wind Power is owned by four local shareholders - businessmen Carlo Van Weinegen, John Thiongo... (allAfrica.com)
USA Technologies responds to dissidents Nov 21, 2009
USA Technologies asks shareholders to side with company against dissidents - Philadelphia Business Journal ... USA Technologies asks shareholders to side with company against dissidents ... issued a letter to its stockholders Friday, urging them to not vote for the three board candidates nominated by two dissident shareholders. (Philadelphia Business Journal, PA)
How Communication Drives Performance Nov 21, 2009
"Courage, innovation and discipline help drive company performance especially in tough economic times. Effective internal communications can keep employees engaged in the business and help companies retain key talent, provide consistent value to customers, and deliver superior financial performance to shareholders."Watson Wyatt 2009 ... The study shows that companies that communicate effectively had a 47% higher return to shareholders over a five-year period (mid-2004 to mid-2009). (BusinessWeek)
Toyota works on car deal Nov 21, 2009
Walser's majority shareholders plan to run the Baxter dealership in partnership with Bob Ebert of Maple Grove, who is in charge of Walser's service operations in its 10 stores. Wednesday, in a bankruptcy court update, the Associated Press reported Hecker was found in contempt of court for failing to produce bank records and other documents related to his case. (Brainerd Daily Dispatch)
Cadbury's Carr Stared Down Goldman and RWE as Preparation for Kraft Duel Nov 21, 2009
With hindsight, rejecting the Goldman-Tchenguiz approach wasnt the best outcome for shareholders, said , an analyst at Astaire Group Plc in London who covered the deal ... In that deal, he stuck to his initial offer against shareholders who wanted more cash. (Bloomberg)
Zimbabwe: Boardroom Wrangle Erupts at Aico Nov 21, 2009
Harare HAPPYMORE Mapara, the group chief executive officer (CEO) of AICO Africa Limited was this week sent on suspension pending investigations into the operations of the company after falling out with key shareholders at the Zimbabwe Stock Exch-ange (ZSE)-listed conglomerate. Insiders at AICO said daggers were drawn out against Mapara in August/September this year after an audit by KPMG lifted the lid on transactions that were done in contravention of exchange control regulations. (allAfrica.com)
Buffett's $48bn donation deadline Nov 21, 2009
Mr Buffett told Berkshire shareholders on Thursday he wanted proceeds from his stock given to charities "within 10 years after my estate is closed". The tycoon plans to donate about $37bn to Bill Gates' charitable foundation. (Yahoo News -- Philanthropy and Volunteerism)
Bob Evans ups dividend, OKs stock buyback Nov 21, 2009
The Columbus-based restaurant chain said its board has given the green light to a dividend of 18 cents a share payable Dec. 15 to shareholders of record as of Dec. 4. That s up 12. (Columbus Business First, OH)
Ctrip's Sell Point Came After Late Base Nov 21, 2009
In any case, shareholders should have been thoroughly on alert by late September, when shares pushed above the uptrend's upper channel line 5. The stock slid below the 10-week moving average in the heaviest trading since early 2007 6. (Investors Business Daily)
Feds: "New South Federal must find suitor to raise capital" Nov 21, 2009
To raise capital, a bank generally has three options: It can submit a rights offering to current shareholders to help pony up the needed money, it can do a private placement of its common equity or it can sell itself, Schutz said. Within the past several months, New South has been searching for a capital investment but has failed to prop up its reserve levels. (Birmingham Business Journal, AL)
Birmingham bank stocks flat Friday Nov 21, 2009
On Thursday, shareholders of the bank approved an amendment to increase the shares of its common stock to 200 million from 20 million shares. Most Read Stories. (Birmingham Business Journal, AL)
GM Hopes Aggressive Ad Push Will Win Over Skeptical Drivers Nov 21, 2009
Shareholders of Terra Industries (TRA) elected to its board three nominees proposed by rival CF Industries (CF). The move was the most certain advance to date for CF's eight-month. (Investors Business Daily)
Report: Hershey may launch bid for Cadbury Nov 21, 2009
Cadbury quickly dismissed it as too low, but Kraft has until December to present it directly to shareholders. We re the only offer on the table, Kraft spokesman Michael Mitchell told The Associated Press. (Orangeburg Times and Democrat, SC)
CF's Bid for Terra Advances as Shareholders Elect Slate of Board Nominees Nov 21, 2009
Nov. 20 (Bloomberg) -- shareholders elected a slate of three board nominees backed by , advancing CFs $4 ... CF sought to woo Terra shareholders before todays vote by revamping its offer to include mostly cash ... a proxy advisory company, recommended Nov. 13 that Terra shareholders vote for the CF slate. (Bloomberg -- Canada)
SEC Vote Prohibits Mutual Funds From Directed Brokerage Nov 21, 2009
Commissioner Cynthia A. Glassman said the rule will help curtail serious conflicts of interest that "have grown dramatically as the mutual fund industry has grown." Commissioner Paul S. Atkins called the plan "a great step forward" for shareholders ... The disclosure rule strikes "a very nice balance" between the interests of shareholders and the privacy concerns of fund managers, who did not want the public to have information about exactly how much they are paid, Commissioner Harvey J.... (Yahoo News -- Corporate Reform)
Goldman told to be less greedy, cut bonus pool Nov 21, 2009
ZURICH: Big shareholders at Goldman Sachs have asked the US bank, on track to deliver $20 billion in bonuses, to pass more profit to investors after it quadrupled quarterly net profit ... The shareholders are also concerned about a change in the company's financial statements that increased the firm's total headcount by adding temporary employees and consultants, the Wall Street Journal said ... But Swiss-based investment fund Ethos, which has a keen interest in corporate governance practice,... (India Times)
Atikwa Minerals Corporation Announces Name Change Nov 21, 2009
CALGARY, ALBERTA--(Marketwire - Nov. 20, 2009) - Atikwa Minerals Corporation ("Atikwa" or the "Company") (TSX VENTURE: - ) announces that it has changed its name to Atikwa Resources Inc. The name change was approved by the shareholders of the company at a meeting held on October 22, 2009. The Company feels the new name better reflects the business of the Company. (CCNMatthews Press Releases)
Republic Bancorp to buy back shares Nov 21, 2009
The dividends are payable Jan. 15 to shareholders of record Dec. 28, 2009. Republic operates 44 banking centers in Kentucky, Indiana, Florida and Ohio. (Cincinnati Business Courier, OH)
Andersen Will Settle Suit Over WorldCom Nov 21, 2009
The agreement, to be unveiled at a hearing in federal court on Tuesday, would end a three-week trial in which shareholders argued that Andersen should have uncovered an $11 billion accounting fraud at WorldCom. The fraud pushed the telecommunications company into the largest bankruptcy filing in U.S. history in 2002 and cost investors billions. (Yahoo News -- WorldCom/MCI)
EDF: Nuclear contamination Nov 21, 2009
Shareholders had hoped for less political interference, but the level of state involvement has hardly changed and may increase with the arrival of Mr Proglio, a friend of France s president, Nicolas Sarkozy. Mr Proglio has already caused controversy by insisting that he remain chairman of his old firm, Veolia, despite his demanding new job. (The Economist)
Goldman Sachs Nov 21, 2009
Goldman spokesman Lucas van Praag said major shareholders had not contacted the company about lowering its bonus pool. "Our investors have consistently told us that they expect the firm to set compensation at a level which produces attractive returns to shareholders," van Praag said in an emailed statement ... Freeman was cited in the paper as saying he has heard from investors concerned about how much Goldman delivers to shareholders. (ABC News -- Business)
International Wayside Gold Mines Ltd.: Private Placement of Up to $10,000,000 in Units and Subscription Receipts Nov 21, 2009
Concurrently with the completion of the Sale Transaction, the Company will enter into a Spin-off Transaction (the "Spin Off Transaction") to transfer all of its properties, including the QR Mine and Mill, Cariboo Gold Project (including Bonanza Ledge), and all assets, liabilities and obligations, to Barkerville, a wholly-owned subsidiary of the Company, in exchange for shares of Barkerville (the "Barkerville Shares") and will then distribute the Barkerville Shares to the shareholders of the... (CCNMatthews Press Releases)
AngloGold Ashanti Announces Acquisition of Shares in Commander Goldfields Ltd. Nov 21, 2009
For a discussion of such factors, refer to AngloGold Ashanti's annual report for the year ended 31 December 2008, which was distributed to shareholders on 27 March 2009 and the company's annual report on Form 20-F, filed with the Securities and Exchange Commission in the United States on May 5, 2009 as amended on May 6, 2009. AngloGold Ashanti undertakes no obligation to update publicly or release any revisions to these forward-looking statements to reflect events or circumstances after today's... (CCNMatthews Press Releases)
Indus raises Rs 10K cr to pay off loans Nov 21, 2009
The company, which has a portfolio of over 1,00,000 towers, will use part of the proceeds to repay shareholders loans worth Rs 3,827 crore given by Bharti Infratel, Vodafone Essar, Idea Cellular and Aditya Birla Telecom at the time of the inception of Indus Towers Limited ... The shareholders are being repaid as the company is now in a position to raise money from the market. (India Times)
Chicago investment firm ups Legg stake Nov 21, 2009
The purchase makes Keeley Asset Management among Legg Mason s largest shareholders. According to Legg Mason s proxy statement, its two largest shareholders are mutual fund companies Dodge & Cox, which owns 8. (Baltimore Business Journal, MD)
VW to buy Karmann Ghia-maker's assets Nov 21, 2009
VW said Karmann has extensive experience in the production of small cars, which it could access as needed, but that it first has to hold final negotiations with Karmann shareholders on the deal. Click for related content. (MSNBC -- Business)
Investors to Goldman: Be less greedy Nov 21, 2009
Wall Street Journal reports that shareholders want a larger cut ... 20: Doshareholders have a right to be upset over Goldman Sachs' bonuses ... Some big Goldman Sachs Group Inc. shareholders have asked the U.S. bank to cut what could be the biggest bonuses in its history to pass more profit onto investors, the Wall Street Journal reported on Friday. (MSNBC -- Business)
Electronic Game Card, Inc. Files 10-Q for Period Ending September 30, 2009 Nov 21, 2009
Similarly, for the nine months ended September 30, 2009, Electronic Game Card's comprehensive net income applicable to common shareholders was $5 ... ELECTRONIC GAME CARD, INC. CONSOLIDATED BALANCE SHEETS September 30, December 31, 2009 2008 ------------- ------------ (Unaudited) ASSETS CURRENT ASSETS: Cash and cash equivalents $12,696,691 $8,281,899 Marketable securities - 876,186 Accounts receivable 3,668,448 2,757,685 Deposit on inventory 1,214,333 51,833 Other receivables 162,757 120,109 VAT... (Yahoo! Wire -- Entertainment News)
Companies' share buybacks may hit a wall Nov 21, 2009
Shareholders should not get carried away when a buyback is announced ... Shareholders stay away from offers as stocks market price shoots past repurchase value. (India Times)
Bank's profit to top 6bn Nov 21, 2009
A spokeswoman for RBS said: "As a bank we are very much focused on delivering superior value for our shareholders. We have to look after our people, our customers and our shareholders.". She added that around 10% of profits was returned to the staff through a profit-sharing scheme; and RBS has promised not to relocate jobs abroad to lower-cost economies, as some of its competitors have done. (Yahoo News -- Banking & Financial Services)
Erickson family has troubled Lake Area Bank's back Nov 21, 2009
We ve got shareholders who are committed to maintaining a strong capital position and who have the capital resources to do so, said Campbell, adding that the Erickson family has already injected $2 million into the bank to maintain its capital reserves so it can sustain future losses. The bank has $311. (Twin Cities Business Journal, MN)
A partial solution Nov 21, 2009
These companies could be akin to producer-companies, under Section 581B of the Companies Act, with each shareholder getting one vote and without any limit on the number of shareholders. Amul is a producer company. (India Times)
AOL Will Eliminate 2,300 Jobs as It Seeks to Lower Costs by $300 Million Nov 20, 2009
Time Warner this week said the planned spinoff of AOL to shareholders will take place Dec. 9, and AOL will begin trading as a separate company on Dec. 10. The separation will undo the 2001 merger that led to record losses the next year. (Bloomberg)
AOL to cut one-third of workforce Nov 20, 2009
Shareholders will receive one AOL share for every 11 Time Warner shares already held. The spin-off brings to an end what is regarded as one of the least successful mergers in history. (BBC News -- Business)
Low rates hit Nationwide profit Nov 20, 2009
Unlike a listed company owned by shareholders, its main aim is not necessarily to maximise profits. It is the UK's biggest building society and provides a leading house price index. (BBC News -- Business)
Big Shareholders Ask Goldman to Cut Bonuses: Report Nov 20, 2009
(Reuters) - Some of Goldman Sachs Group Inc's largest shareholders have asked the company to cut the size of its bonus pool and pass along more of its profits to investors, the Wall Street Journal reported, citing people familiar with the situation. Although the shareholders were not pushing for a huge cut in the bonus pools, they feel that Goldman should better reward shareholders for this year's rebound, the paper said. (ABC News -- Business)
Andersen Will Settle Suit Over WorldCom Nov 20, 2009
The agreement, to be unveiled at a hearing in federal court on Tuesday, would end a three-week trial in which shareholders argued that Andersen should have uncovered an $11 billion accounting fraud at WorldCom. The fraud pushed the telecommunications company into the largest bankruptcy filing in U.S. history in 2002 and cost investors billions. (Yahoo News -- WorldCom/MCI)
Saamchem to invest US$2.2mil in new Indonesian subsidiary Nov 20, 2009
Samchem today signed a shareholders agreement with Herisun Hassan, president and director of PT Prasandha Byantara Abadi (PBA), to form the new subsidiary in the Indonesian capital. "Under this strategic partnership, we will hold a 60 per cent majority stake," Ng told reporters after the signing. (The Star Online, Malaysia -- Business)
Maxis offers long-term gain Nov 20, 2009
Our principal shareholders have made it very clear that they do not want the company to have an idle balance sheet ... The aspirations of principal shareholders and minority shareholders are aligned they will get the best dividends the company can generate, Rossana said. (The Star Online, Malaysia -- Business)
Stock futures mixed; Dell in focus Nov 20, 2009
Some of Goldman Sachs Inc's (GS.N) largest shareholders have asked the company to cut the size of its bonus pool and pass along more of its profits to investors, the Wall Street Journal reported, citing people familiar with the situation. General Electric (GE.N) and Vivendi () are at least 1 billion apart in their valuation of the French group's stake in NBC Universal, the Financial Times reported. (Yahoo News -- Press Releases)
Regulators crack down on Flagler Bank Nov 20, 2009
5 million in capital a nearly 25 percent increase from its existing shareholders to strengthen the bank, Sterling said ... Regulators also told Flagler Bank that it could not grant dividends to its shareholders without regulatory approval. (South Florida Business Journal, FL)
LSI moving forward on international expansion Nov 20, 2009
Bob Ready, the lighting company s co-founder, CEO and chairman, told shareholders Thursday that after 18 months of waiting for conditions to turn around, he s had enough ... This will be the anchor for the LSI reputation worldwide, said Ready, who told shareholders he expects the U.S. economy will fall into a second recession and that it will be at least two years before its traditional U.S. market bounces back ... Much of the company s presentation at Thursday s shareholder s meeting was spend... (Cincinnati Business Courier, OH)
Grierson helped lead ArcSight, Silicon Valley's only IPO of 2008 Nov 20, 2009
Many shareholders questioned our timing and suggested we wait for better economic times, said ArcSight CEO Tom Reilly ... Once executives and shareholders were in agreement, he faced the difficult task of selling the IPO to investment bankers. (San Jose Business Journal, CA)
Goldman Sach's Shareholders Seethe Nov 20, 2009
You can add some of Goldman Sach's most important shareholders to the growing list of agitators who do not approve of the firm's plans to pay out record bonuses this year. The Wall Street Journal scoops the field this morning with an article about some of the firm's largest shareholders who believe , but instead should be turning over some of its "blockbuster earnings to investors." This truly is new ground for a normally staid investor group, the newspaper points out, adding "their complaints... (Slate)
> Morissette thrives on blend of education, clinic and finance at Stanford Hospital Nov 20, 2009
A nonprofit s obligation is to the cause it was set up to address, while a public company CFO s primary accountability is to his or her shareholders. reinvests its margin what would be known in the private sector as profit in order to assure that its mission is realized. (San Jose Business Journal, CA)
Business Journal announces CFO of the Year recipients Nov 20, 2009
At public companies, the investor relations part of the job and managing the expectations of shareholders consumes a vast amount of the CFO s time ... It s about cash flow management as opposed to managing expectations of shareholders vis-;-vis a stock price. (San Jose Business Journal, CA)
Shareholders OK DirecTV spinoff Nov 20, 2009
finished spinning off the company s controlling stake in satellite broadcaster on Thursday after shareholders of both companies approved the deal ... Shareholders of El Segundo, Calif. (Denver Business Journal, CO)
Companies' share buybacks may hit a wall Nov 20, 2009
Shareholders should not get carried away when a buyback is announced. Companies, too, should maintain logic and not make announcements on adhoc basis. (India Times)
Shareholders approve Koss stock split Nov 20, 2009
shareholders approved a proposal Thursday to increase the number of common-stock shares the company can issue, enabling a two-for-one stock split the company said will keep its stock listed on the Nasdaq exchange. Shareholders held a special meeting Thursday to amend Koss Corp. s (NASDAQ: KOSS) certificate of incorporation to increase the number of common shares the company can issue from 8. (Milwaukee Business Journal, WI)
Republic Bancorp to buy back shares Nov 20, 2009
The dividends are payable Jan. 15 to shareholders of record Dec. 28, 2009. Republic operates 44 banking centers in Kentucky, Indiana, Florida and Ohio. (Louisville Business First, KY)
Applied Materials Begins Offer for Semitool Nov 20, 2009
on Tuesday offered Semitool shareholders $11 per share, a 31 percent premium over Monday's closing share price of $8 ... -based Semitool's board of directors has unanimously approved the offer and says it is in the best interests of shareholders. (ABC News -- Wire)
Buffett's Berkshire Secures $8B Loan for BNSF Deal Nov 20, 2009
The deal is expected to be completed early next year if shareholders and regulators approve. On the Net. (ABC News -- Wire)
We want to quickly learn the ropes from JFE Steel: Jindal Nov 20, 2009
Whats the kind of financial upside that is there for the company as well as its shareholders. Oh, it is actually immense. (India Times)
Tatas raise Rs 600 cr from sale of DVRs Nov 20, 2009
Tata Motors differential voting rights shares carry 1/10th of voting rights and entitles shareholders to 5% higher dividend than ordinary shares in lieu of surrendering their voting rights. If the Tatas have been selling differential voting rights in the open market, the move is positive as it would improve liquidity in the counter, said investment banker Rashesh Shah, chairman of Edelweiss Group. (India Times)
Applied Materials seeks Semitool Nov 20, 2009
on Tuesday offered Semitool shareholders $11 per share, a 31 percent premium over Monday's closing share price of $8 ... -based Semitool's board of directors has unanimously approved the offer and says it is in the best interests of shareholders. (San Francisco Chronicle -- Technology)
JBI, Inc. Announces Interactive Conference Call Details Nov 20, 2009
Management will be giving all shareholders and interested parties an update on corporate operations. John Bordynuik commented, "I look forward to giving all loyal shareholders, money managers, and prospective investors a comprehensive progress report on our company. We are working diligently to maximize shareholder value through strong internal growth and synergistic, accretive acquisitions.". (Primezone Releases)
'Too expensive' Nov 20, 2009
I'm pretty sure it's because they want to make profit for their shareholders. " Bookmark with: Print Sponsor SEE ALSO 19 Nov 09 | Health 24 Sep 09 | Wales 14 Jan 09 | Health 23 Nov 08 | Health 24 Sep 08 | Health 10 Sep 08 | Sussex 20 May 07 | Health 21 Aug 06 | Health RELATED INTERNET LINKS The BBC is not responsible for the content of external internet sites SHARED Peru arrests 'human fat killers' Thousands of Vicks spray recalled Hundreds rescued from flood town Alcohol 'protects men's hearts'... (BBC News -- UK)
Financial Regulation Overhaul Proposals in U.S.: Side-by-Side Comparison Nov 20, 2009
Obama would require companies to offer to shareholders a say-on-pay, a nonbinding vote on executive packages. HOUSE -- Financial Services Committee Chairman Frank offered legislation that would require regulators to ban practices that encourage inappropriate risks by companies that could threaten the economy. (Bloomberg -- US)
Filling parastatal holes Nov 20, 2009
But, Van Vuuren calls this "disingenuous" as the primary shareholders represent the black electorate. "One has to ask if the issue is about race, whether it is a red herring, or whether the BMF members represent vested interests.". (iAfrica.com)
Santander Seeks to Dismiss Miami Lawsuit Over Losses From Bernard Madoff Nov 20, 2009
Santander said in papers filed in federal court in Miami that it was duped by Madoff and that shareholders in two funds that invested with the con man cant sue the bank directly. The suit is a proposed class action to include all Santander customers in Latin America who lost money in the Madoff Ponzi scheme. (Bloomberg -- Europe)
Bank's profit to top 6bn Nov 20, 2009
A spokeswoman for RBS said: "As a bank we are very much focused on delivering superior value for our shareholders. We have to look after our people, our customers and our shareholders.". She added that around 10% of profits was returned to the staff through a profit-sharing scheme; and RBS has promised not to relocate jobs abroad to lower-cost economies, as some of its competitors have done. (Yahoo News -- Banking & Financial Services)
GSI Group Finalizes Agreement With Noteholders to Significantly Reduce Its Debt Nov 20, 2009
Following the restructuring, we believe the Company will have the capital structure it needs to grow and generate value for our shareholders. " The Company fully expects to continue to operate in the normal course of business during the restructuring process. The Company plans to continue to fulfill all customer orders as usual and provide uninterrupted customer service during the restructuring process. The proposed Plan of Reorganization provides for all vendors and suppliers to be paid in... (Canada Newswire)
