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McClatchy, the parent company of the , said the moves will alloew the company to exchange some note s due between 2011and 2017, and some debt set to matur between 2027 and 2029, for up to $60 millio in cash and up to $175 milliomn of newly issued senior note due in 2014. Sacramento-based McClatchyt (NYSE: MNI) also amenderd a $1.15 billion credit agreemen in order to have more flexibility in the use of its revolvinfgcredit facility. “This enhanced flexibility is clearl y apositive development,” Pat Talamantes, McClatchy’s chief financial said in a news release.
McClatchgy also will use up to $60 millioj of the revolving component of its facility to buy back notes due in 2011and 2014. The amendmentf to McClatchy’s bank credit agreement reduces the revolving credit commitmentto $560 million from $600 As of Wednesday, McClatchy had $140.98 million available under its credit agreements. Sharex of McClatchy stock were up 30 percent to 82 centzs per share in middaytrading Thursday. On Wednesday, the newspaperr giant announced five initiatives designed to improve dwindlingyadvertising revenues.
One initiative calls for McClatchyu to begin paying ad agenciexs a sales commission in orderto “level the playiny field” with broadcasters and other media that have long paid agenciez commissions based on their spending. McClatchy chairman and chievf executive officer GaryPruitt said, in his annual shareholderf meeting address, that such paymentsa have prompted agencies to direc their customers to mediwa other than newspapers. He said McClatchy is “reaching out to thesd agencies with new incentives and introducing them to our full complement of printt and digitaladvertising products.
” The Sacramento-basedf newspaper publisher also announced it would “break with by emphasizing online advertising, as opposedr to the print newspaper, when it comese to selling help-wanted ads. The company’s greatest percentage of ad revenue declines has come from the job ads Last year, McClatchy’s revenue fell almost 16 with ad revenues declining nearlg 18 percent.
Thursday, September 29, 2011
Tuesday, September 27, 2011
Charles Geer Joins Greyling Insurance Brokerage, Opens Florida Office - MarketWatch (press release)
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Charles Geer Joins Greyling Insurance Brokerage, Opens Florida Office MarketWatch (press release) Prior to joining Greyling, Geer was a senior vice president and a principal/owner of Kimley-Horn Associates, Inc. Among his many roles at Kimley-Horn, he served as a quality, liability, and risk manager. His responsibilities included performing ... |
Sunday, September 25, 2011
I dreaded my wife discovering the secret that has haunted me all my life ... - Daily Mail
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Daily Mail | I dreaded my wife discovering the secret that has haunted me all my life ... Daily Mail The actor-turned-writer, better known as The Fonz from the hit Seventies sitcom Happy Days, has penned a series of engaging little stories about a boy with learning difficulties and his ogress of a teacher. The dreadful Miss Adolf â€" whose main aim in ... |
Friday, September 23, 2011
Mid-America Payment Exchange, Payments Central merge - Kansas City Business Journal:
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The newly merged not-for-profit trade association helpws banks, credit unions and thriftx maintain compliance with payments system rulexand regulations, reduce prevent fraud and improve operational efficiency. The organization producexs revenue through membership dues and training It incorporated Wednesday under thename , and set up its headquarterxs in the former MPX offices at 3100 Broadway in Kansaz City. Chris Watkins, vice president of marketintg and administrationfor EPCOR, said this was a true mergerr with both sides reaching a mutual agreement to form a new Former MPX CEO Ann-Marie Bartels will be CEO of Jerry Woessner, former CEO of Payments Central will be EPCORd president.
“As EPCOR, we will provided electronic paymentsand risk-management education and support to more than 2,300 financial institutions in 12 statesd in the central United States,” Bartels said in a release. “EPCOf will serve 14 percenty ofall U.S. financial institutions.” Watkins said the merger allow s EPCOR to offer more services and provide strongetr lobbying efforts forits members, who are mainly smaller community banks. Watkins said all employees of the two organizationsewill remain. EPCOR now has 15 employees in Kansas City; five in Ohio; one in Omaha, Neb.; one in one in South Carolina; and one in souther Missouri.
The newly merged not-for-profit trade association helpws banks, credit unions and thriftx maintain compliance with payments system rulexand regulations, reduce prevent fraud and improve operational efficiency. The organization producexs revenue through membership dues and training It incorporated Wednesday under thename , and set up its headquarterxs in the former MPX offices at 3100 Broadway in Kansaz City. Chris Watkins, vice president of marketintg and administrationfor EPCOR, said this was a true mergerr with both sides reaching a mutual agreement to form a new Former MPX CEO Ann-Marie Bartels will be CEO of Jerry Woessner, former CEO of Payments Central will be EPCORd president.
“As EPCOR, we will provided electronic paymentsand risk-management education and support to more than 2,300 financial institutions in 12 statesd in the central United States,” Bartels said in a release. “EPCOf will serve 14 percenty ofall U.S. financial institutions.” Watkins said the merger allow s EPCOR to offer more services and provide strongetr lobbying efforts forits members, who are mainly smaller community banks. Watkins said all employees of the two organizationsewill remain. EPCOR now has 15 employees in Kansas City; five in Ohio; one in Omaha, Neb.; one in one in South Carolina; and one in souther Missouri.
Wednesday, September 21, 2011
Sunday, September 18, 2011
ECB'S Weidmann: Wrong to abandon monetary policy - Reuters
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ECB'S Weidmann: Wrong to abandon monetary policy Reuters BERLIN (Reuters) - ECB Governing Council member Jens Weidmann, an opponent of the bank's bond-buying program, told Germany's Spiegel magazine the ECB had burdened itself with considerable risk and it was wrong to abandon established principles of ... Weidmann Sees Considerable ECB Balance Sheet Risk, Spiegel Says |
Friday, September 16, 2011
Obama must 'fire a lot of people' to rescue presidency, strategist says - National Post (blog)
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The League of Ordinary Gentlemen | Obama must 'fire a lot of people' to rescue presidency, strategist says National Post (blog) Obama must “fire a lot of people†in the White House who are giving him bad advice about how to fight Republicans on job creation and deficit reduction. Carville argued Obama must also start making his case for his jobs bill “like a Democrat†and stop ... 'Fire a Lot of People'? Carville Advice for Obama Has Risks, Rewards Historian ... Carville Advises Obama To 'Panic,' Fire People And Make A Bunch Of Politic » |
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