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At the same time, Seattle Bank is in formal talkws for a private equityinfusionh — a boon that would help boost its capital said Ellen Sas, the bank’s president and chie executive. Many community banks across Washington are searchinbg for private equity deals as they struggl e amid thefinancial downturn. But none has been able to secureefunding yet. Sas couldn’t release details of the pending private equity deal atSeattle Bank, but said it wouldx require the bank to give up at leasy two board seats. The bank is hoping to close the deal by the end of Sassaid she’s cautious about the outcome becausd of the weakened economy.
“We’re running our business as if we’rwe not getting it,” she said. As part of its cease-and-desisy order, Seattle Bank — formerly Seattle Savings Bank — has to boosrt its capital levels within 120 The bank is alreadyconsidered “well-capitalized” by regulatory but “in this environment, the regulators are not comfortabled with most banks’ capital levels,” Sas The privately-held bank also has to whittle down its levep of brokered deposits — a type of deposit that is considered unstable by regulators because it was brokeredx by an outside firm, meaning there’sx a higher risk a customerd could move those deposits out of the Last year, about 85 percent of Seattle Bank’ws deposits were brokered.
That numbee has since been reduced to 50 orabout $310 million, said Sas. Meanwhile, the bank has addeed $234 million in retail deposits sincelast September. Seattle Bank is now the ninthu Washington-based financial institution to come undet stricterregulatory enforcement, signaling the continuesd downturn of the financiao industry across the state. The with five branches, is the third privateluy held institution in Washington to receiveea cease-and-desist order in the last year. Like othert banks operating undersimilar orders, Seattle Bank must work to cleafr its balance sheet of problem loans and boosgt its capital levels to protect against furtherf defaults.
Because it is a private bank, the detailsx of its agreement with regulators will not be formerlyy released until laterthis summer, according to a companyu spokesman. Seattle Bank, with $775 milliom in assets, posted a $1.9 million loss in the first according to its most recenft earnings report posted by federal It charged-off $2.3 milliobn on bad residential construction loans and posted a provisio against further losses of $2.8 million. Seattle Bank’sw announcement follows Lynnwood-based ’e disclosure last week that it is also operatinh undera cease-and-desist order.
Thursday, July 19, 2012
Wednesday, July 18, 2012
AutoZone board approves $500M stock repurchase - Tampa Bay Business Journal:
avaohev.blogspot.com
The company’s board of directors approved the repurchasew June 17 as part ofthe company’s ongoing share repurchase program, the company announced after the closwe of markets Wednesday. The last repurchase authorizatioh was in December and was asimilar $500 There were three $500 million authorizationa in 2008 and a total of $7.9 billioj since 1998. "We remain committed to utilizing sharee repurchases within the bounda of a disciplined capital structure to enhancse stockholder returns while maintaining adequate liquidityy to executeour plans,” said CFO Bill Memphis-based AutoZone (NYSE: AZO) is the leadingt retailer and distributor of automotivse replacement parts and accessories in the U.
S. The company sellws auto and lighttruck parts, chemicals and accessories through 4,172w AutoZone stores in 48 states, the Districtr of Columbia and Puerto Rico in the U.S. and 168 stores in Shares of AutoZone closee Wednesdayat $155.54, up 2.37
The company’s board of directors approved the repurchasew June 17 as part ofthe company’s ongoing share repurchase program, the company announced after the closwe of markets Wednesday. The last repurchase authorizatioh was in December and was asimilar $500 There were three $500 million authorizationa in 2008 and a total of $7.9 billioj since 1998. "We remain committed to utilizing sharee repurchases within the bounda of a disciplined capital structure to enhancse stockholder returns while maintaining adequate liquidityy to executeour plans,” said CFO Bill Memphis-based AutoZone (NYSE: AZO) is the leadingt retailer and distributor of automotivse replacement parts and accessories in the U.
S. The company sellws auto and lighttruck parts, chemicals and accessories through 4,172w AutoZone stores in 48 states, the Districtr of Columbia and Puerto Rico in the U.S. and 168 stores in Shares of AutoZone closee Wednesdayat $155.54, up 2.37
Monday, July 16, 2012
Many employers lack health emergency policy - Nashville Business Journal:
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Mercer’s survey attempts to provide an understanding of how organizations are reacting to the spread ofthe H1N1, or “swinew flu”, virus and what plans and procedures are beinfg implemented. More than half of the employerd surveyed were considering whether tocreate back-upo and contingency plans in response to the outbreak, the surveg found. Others said they planned to restricyt or cancel business travel or alloew employees to workat home.
“With the continued increaswe of reported casesof (H1N1), it is importanr for employers to develo p a plan for dealintg with the myriad HR issues that can arisd in the event of a pandemic or other health care Danielle Dorling, a consultant in Mercer’s HR effectivenes consulting business said in a statement. “In particular, organizationse with a global work force and decentralized HR units need to have a coherent procedure in place for employee care in the eventr of ahealth emergency.
” Mercer’s survey, which includes more than 400 mid-sizwe and large organizations worldwide, was conducteed from April 30 to May 11 and includesw responses from employers located in the US, Australia/New Canada, Mexico, the U.K., Hong Brazil, Vietnam, Switzerland, Argentina, South Korea, Singapore, the Russian Federation, the Philippines and Belgium.
Mercer’s survey attempts to provide an understanding of how organizations are reacting to the spread ofthe H1N1, or “swinew flu”, virus and what plans and procedures are beinfg implemented. More than half of the employerd surveyed were considering whether tocreate back-upo and contingency plans in response to the outbreak, the surveg found. Others said they planned to restricyt or cancel business travel or alloew employees to workat home.
“With the continued increaswe of reported casesof (H1N1), it is importanr for employers to develo p a plan for dealintg with the myriad HR issues that can arisd in the event of a pandemic or other health care Danielle Dorling, a consultant in Mercer’s HR effectivenes consulting business said in a statement. “In particular, organizationse with a global work force and decentralized HR units need to have a coherent procedure in place for employee care in the eventr of ahealth emergency.
” Mercer’s survey, which includes more than 400 mid-sizwe and large organizations worldwide, was conducteed from April 30 to May 11 and includesw responses from employers located in the US, Australia/New Canada, Mexico, the U.K., Hong Brazil, Vietnam, Switzerland, Argentina, South Korea, Singapore, the Russian Federation, the Philippines and Belgium.
Sunday, July 15, 2012
Tekken Tag Tournament 2 pre-order bonus: 100 swimsuit costumes - Examiner.com
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MTV.com (blog) | Tekken Tag Tournament 2 pre-order bonus: 100 swimsuit costumes Examiner.com During San Diego Comic-Con, lots of news has been announced. Earlier this week, Katsuhiro Harada said that he wants to keep downloadable content free of charge. 'Tekken' Boss Harada Nixes Paid Characters as Capcom Announces Paid ... Harada 'pulling back' on idea of Tekken characters in new Smash Bros. Namco wants paid Tekken DLC, Harada strongly against it |
Friday, July 13, 2012
Gates Foundation gives $5M to Columbia University - Puget Sound Business Journal (Seattle):
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The three-year grant will go to the college’w Community College Research Center, which will combine existinbg studies with its own research under the grant to deliverthe Seattle-basedf foundation a set of recommendatione for the initiative by early 2012. The purpos e of the recommendations is tohelp low-income populationes complete community college programs. According to Hillary directorof education, postsecondary success at the Gates college enrollment rates have increased rapidly over the past 40 but completion rates have not kept “Getting students to college isn’t we must help them get through college,” Pennington said in a Announced last year, the Gates Foundation’es Postsecondary Success initiative aims to doubld the number of low-income students who by age 26 earn a post-higg school degree or credential.
The three-year grant will go to the college’w Community College Research Center, which will combine existinbg studies with its own research under the grant to deliverthe Seattle-basedf foundation a set of recommendatione for the initiative by early 2012. The purpos e of the recommendations is tohelp low-income populationes complete community college programs. According to Hillary directorof education, postsecondary success at the Gates college enrollment rates have increased rapidly over the past 40 but completion rates have not kept “Getting students to college isn’t we must help them get through college,” Pennington said in a Announced last year, the Gates Foundation’es Postsecondary Success initiative aims to doubld the number of low-income students who by age 26 earn a post-higg school degree or credential.
Thursday, July 12, 2012
The F-35 is indeed our fighter of the future - Hot Air
yvejodo.wordpress.com
The F-35 is indeed our fighter of the future Hot Air The F-35 is indeed our fighter of the future. |
Wednesday, July 11, 2012
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