| Chrysler loan sale likely postponed: sources
DETROIT/NEW YORK (Reuters) - A $4 billion sale of loans being raised by automaker Chrysler LLC following its takeover by buyout firm Cerberus was likely to be postponed from a planned sale this week, a number of sources said on Monday. Weak credit markets and worsening news from the U.S. autos sector were behind the latest postponement, one source said. .
Endesa Reports Third Quarter Results 2007
Endesa reported net income of Euro 1,979 million in 9M07. This figure is Euro 529 million less than the year earlier figure. To effect a comparison on a like-for-like basis, four significant non-recurring items included in 9M06 need to be factored in: Recognition of stranded costs for non-mainland generation for 2001-2005, which amounted to Euro 227 million, and for corresponding interest amounting to Euro 31 million, with a combined impact of Euro 197 million on net income. The tax effect relating to Endesa Italia's revaluation of the tax bases of its assets to their book values, as permitted by current legislation in Italy. The amount of this tax effect was Euro 148 million and its impact on net income after minority interests stood at Euro 118 million. The fiscal impact of the merger between Elesur and Chilectra, which was Euro 170 million, with an impact on net income after minority interests of Euro 101 million.
Anatomy of a panic
Shortly past 8 a.m. on an already sweltering August Monday, a small team of financiers hurried down a flight of stairs in one of Montreal's most historic office buildings to watch a modern disaster unfold. The men, senior executives with National Bank Financial, were hurrying to a cavernous room on the main floor of the beaux-arts Sun Life building where more than 100 traders buy and sell billions of dollars of stocks, currencies and debt instruments every day. Leading the group was Ricardo Pascoe, a wiry, soft-spoken derivatives specialist who was named co-chief executive officer of National Bank of Canada's securities arm a year earlier. At his side was his top legal executive, Brian Davis. Mr. Pascoe whisked the group past long lines of noisy trading desks to a normally quiet corner where a half dozen men and women were feverishly working the phones.
Stahl Cowen Represents Purchaser of Two Florida Radio Stations
The Corporate Department of Stahl Cowen Crowley, LLC successfully represented the purchaser of two radio stations in Florida. The transaction included refinancing the purchaser's corporate debt as well as obtaining a $4.2 million line of credit (convertible to term debt) for future acquisitions. Stahl Cowen Crowley LLC is a Chicago-based law firm focused on serving the needs of business enterprises in today's dynamic marketplace. The firm provides sophisticated, yet cost effective legal counsel to organizations ranging from the entrepreneurial to large, publicly traded corporations and municipalities. Practice areas include Bankruptcy & Restructuring, Corporate, Mergers & Acquisitions, Litigation, Local Government, Real Estate and Trusts & Estates. For further information about this matter please contact Lauane Addis at (312) 641-0060.
Online consumerism creates social responsibility high priority for business
According to Nikesh Arora, EMEA President, Google, online consumerism has made the need for good corporate social responsibility a key priority for businesses today and in the future. He told Leaders in Dubai Business Forum 2007 delegates that there were a growing number of examples where customers had used the power of online advocacy to force corporate change. Arora said there were 3 major factors that were influencing the future direction of the Internet, including growing ease of connectivity; falling cost of storage and what he calls the �democratization of the tools of production�, where everyone had the power to create content for the internet. With more than 1 billion people online on PCs and 3 billion using mobile phones, the power base had shifted away from businesses to the customers and many businesses still do not know how to deal with it.
Uganda: Bigwigs Share Tips On How to Succeed in Business
MORE than 500 delegates from the Commonwealth nations are at Sheraton Kampala Hotel for the Commonwealth Business Forum. The forum, which attracts global business leaders, heads of government and industry leaders, will help highlight Uganda and East Africa's position as a trade and investment hub. .
Street projects coming soon
Street infrastructure improvements to Neosho's southtown business district are coming down the pike, according to information presented Tuesday night to the city council.Engineers from Allgeier Martin and Associates detailed resurfacing and restructuring plans for the portion of Missouri Highway 59 between U.S. Highway 60 and Malcom Mosby Drive.Included in the drawings is the removal of the outer road in front of Burger King, KFC, Edgewood Bowl, etc. north of Clemon Drive. Instead, separate entrances will be created for each business along that strip, accessible from the northbound lane of Missouri Highway 59. .
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