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CIB Marine to deregister stock
by Rich Kirchen
22 May 2012 at 4:01pm
The holding company that owns Marine Bank said it will voluntarily deregister its stock, which is traded over-the-counter.
Waukesha-based CIB Marine Bancshares Inc. (otcqb: CIBH) (pinksheets: CIBH) said Tuesday that its board approved the filing with the U.S. Securities and Exchange Commission to voluntarily deregister CIB Marine?s common shares. The company said it intends to file with the SEC on May 24 and expects the change to become effective 90 days later.
CIB Marine has less than 1,200...
SBA chief Karen Mills answers 10 questions -- and dodges one on Bain Capital
by Kent Hoover
22 May 2012 at 3:59pm
Karen Mills took the helm of the Small Business Administration in April 2009. During her three years as SBA administrator, the agency set a new record for lending to small businesses, thanks to an increase in the government guarantee for its flagship 7(a) loans, and a reduction in fees charged to lenders and borrowers.
Now those stimulus-funded breaks are gone, and 7(a) lending has returned to normal levels.
In honor of National Small Business Week, we sat down with Mills to talk to her about the...
Mark Parker's $20 million day
by Matthew Kish
22 May 2012 at 3:55pm
Nike Inc.'s board of directors has given CEO Mark Parker nearly 190,000 shares of stock, a haul worth $20.5 million at Tuesday's trading price, according to a regulatory filing.
In order for Parker to receive the shares, he needs to stay with the company through May 18, 2017, at which time he would receive the shares and any cash dividends generated by the stock.
Nike shares paid a 36 cent dividend each of the past three quarters. At that rate, the stock would generate about $250,000 in dividends...
Nike's Knight among donors to new education PAC
by Matthew Kish
22 May 2012 at 3:45pm
Nike Inc. co-founder Phil Knight and Columbia Sportswear Co. CEO Tim Boyle are among the first donors to a new political action committee focused on higher education reform.
The Oregonians for Higher Education Excellence PAC was formed in late March and already has more than $250,000 on hand. According to the state's campaign finance website, OreStar, donations to date come from:
Phil Knight: $65,000Tim Boyle: $62,500Former University of Oregon athletic director Pat Kilkenny: $65,000Columbia Distributing...
Kleiner Perkins' Pao charges sex harassment, discrimination
22 May 2012 at 3:15pm
Ellen Pao, an investment partner at Kleiner Perkins Caufield & Byers LLC, is suing her employer, the well-known Menlo Park, Calif.-based venture capital firm.
Pao's portfolio companies include formerly Portland-based Jive Software Inc., which moved to the Bay Area in 2010 and went public last year.
Pao alleges she is a victim of sexual harassment by Ajit Nazre, a former Kleiner Perkins investment partner who is no longer with the firm. Others named in the suit: John Doerr, Ray Lane, Bing Gordon,...
BB&T tops in N.C. for small business lending
by Lee Weisbecker
22 May 2012 at 2:56pm
Winston-Salem-based BB&T was the state?s most active SBA small business lender from October through April.
BB&T Corporation (NYSE: BBT) made 63 loans valued at $10.8 million. Wells Fargo & Co. (NYSE: WFC) was second with 56 loans valued at $20 million.
The SBA?s Charlotte office says Southern Bank & Trust was third on its active lender list, having made 21 loans valued at $2.3 million.
VantageSouth Bank, which is based in Burlington but owned by a Raleigh group, moved into the fourth spot....
Bank of America ?comfortable? with its investments
by Hunter Riley
22 May 2012 at 2:51pm
Brian Moynihan, Bank of America Corp.?s CEO, said at an investor conference Monday he feels ?very comfortable? with Bank of America?s corporate investment portfolio, according to a report from Reuters.
The investment portfolio is weighted mostly with mortgage bonds that are government-guaranteed and U.S. Treasury bonds. The company buys protection similar to insurance on some of its large loans to big companies, but it doesn?t make broader hedging bets on the corporate level, Moynihan...
Wells Fargo plans Dallas mortgage assistance workshop
by Lance Murray
22 May 2012 at 2:28pm
Wells Fargo & Co. will host a free Home Preservation Workshop from 9 a.m. to 7 p.m. Thursday at the Hyatt Regency Dallas, 300 Reunion Blvd.
The event is for customers of Wells Fargo Home Mortgage, Wells Fargo Financial, and Wells Fargo Home Equity customers who are facing financial hardships.
Wells Fargo (NYSE: WFC) said it has has invited more than 6,000 North Texas mortgage customers to the workshop and that walk-ins are welcome.
?Although less than 2 percent of owner-occupied loans in our...
Dow edges downward Tuesday
by Patty Tascarella
22 May 2012 at 2:27pm
Wall Street slipped in the final half hour of trading Tuesday, surrendering modest gains that kept financial markets aloft much of the day. The Dow Jones Industrial Average finished at 12,502.81, down 1.67 points, or 0.01 percent. Nasdaq lost 8.13 points to end Tuesday at 2,839.08, down 0.29 percent.
A sampling of Pittsburgh companies had mixed results:
Wesco International Inc. (NYSE:WCC), up 2.48 percent to $60.23Universal Stainless & Alloy Products Inc. (Nasdaq:USAP), down 2.41 percent to...
Motel 6 sells for $1.9B to Blackstone
by Steven R. Thompson
22 May 2012 at 2:12pm
Blackstone Group LP bought the Motel 6 and Studio 6 hotel brands for $1.9 billion, Accor said early Tuesday.
Paris-based hotel company Accor North America sold the U.S. economy division, which includes 1,102 hotels under the Motel 6 and Studio 6 brands in the United States and Canada.
There are at least a dozen Motel 6 locations in the Sacramento region.
The transaction is scheduled to be completed in October. Blackstone plans to upgrade the Motel 6 properties and expand the franchise base, according...
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Currency exchange office opens at Rivercenter - San Antonio Express
22 May 2012 at 3:52pm San Antonio Express By David Hendricks A Foreign Currency Exchange branch buying and selling more than 70 foreign currencies opened last month at Rivercenter mall downtown. The two-employee branch, the Tampa, Fla.-based company's first in Texas, operates on the ... |
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Money Market Stresses Ease Ahead of European Leaders Meeting - BusinessWeek
22 May 2012 at 8:38am BusinessWeek By Liz Capo McCormick on May 22, 2012 Money-market indicators signaled strains in short-term funding dissipated before European leaders meet tomorrow in Brussels to address the region's fiscal crisis. Three-month London interbank offered rate, ... and more » |
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HSBC Adds Six Currencies To Offshore Yuan-Trading Service - Wall Street Journal
22 May 2012 at 8:32am ![]() BBC News | Wall Street Journal ... yuan trading took another step forward Tuesday after HSBC Holdings PLC (HBC) announced it is now streaming so-called CNH rates against a range of currencies other than the dollar on the market's leading electronic inter-dealer trading platforms. HSBC HOLDINGS PLC : HSBC Launches Six New Offshore Yuan Crosses4-traders all 19 news articles » |
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