Heineken looks to broaden social media push MarketWatch Although the Heineken deal will initially focus on YouTube, the company is already looking to broaden the scope. "We for example do not rule the possibility of placing banners on Google," Nasard said, adding it will meet with Google over the summer to ... |
Thursday, June 30, 2011
Heineken looks to broaden social media push - MarketWatch
raisavydyexuwowi.blogspot.com
Monday, June 27, 2011
IMF considers Lagarde, Carstens for top job - CNN International
dyakonostrlin.blogspot.com
Telegraph.co.uk | IMF considers Lagarde, Carstens for top job CNN International By the CNN Wire Staff Washington (CNN) -- The International Monetary Fund could name a new managing director as early as Tuesday, choosing between contenders French Finance Minister Christine Lagarde and Mexican Central Bank chief Agustin Carstens. ... With vote imminent, US still silent on IMF choice Let's Talk the Talk and Walk the Walk at the IMF Lagarde wins China official's backing |
Saturday, June 25, 2011
Profs accused of running prostitution website - Pioneer Press
zemlyanikiyri.blogspot.com
MiamiHerald.com | Profs accused of running prostitution website Pioneer Press ALBUQUERQUE, NM - Two aging professors accused of running a sophisticated prostitution website appeared to have one goal: Police say they wanted to create a place where respected men like themselves could go for sex without having to worry about ... Police: Professors ran online prostitution website Police: Professors ran online prostitution website Second Arrest in David Flory Prostitution Website Case |
Thursday, June 23, 2011
Landlords file objections in Eddie Bauer bankruptcy - Atlanta Business Chronicle:
bacijaxymu.wordpress.com
Eddie Bauer Holdings Inc. (NASDAQ: wants a judge in U.S. bankruptcyh court in Delaware to set a bid deadlinr of July 14 and a July 16 date to auctionm offthe retailer’s assets. But , headquartereds in Santa Monica, Calif., and three othert landlords want more time to evaluatee anyproposed deal. “The landlords did not creatwe debtors’ financial maladies, and should not bear the consequences of this bankruptcyt through loss of theircontractual rights,” Macerich and the otheer landlords said in a court filing Eddie Bauer filed for Chapter 11 bankruptcty protection June 17.
The New York private equithy firm has made an offer to buyEddie Bauer’sa assets for $202 million, subject to an auctiomn and bankruptcy court approval. CCMP has said it has agreedd to keep most ofEddid Bauer’s 371 stores if it were the winning bidder. But the company said it woulf close an undisclosed number ofunderperforming stores. The Macerichu Co. leases space to Eddie Bauer at Redmond Town Centefin Redmond, Wash., and Portland’xs Washington Square. Also objecting in the bankruptch case are Eddie Bauer landlordsz SouthgateMall Associates, The Forbess Co. and Collectively the four companies leasde space to 20 Eddie Bauer stores in14 states.
Eddie Bauer Holdings Inc. (NASDAQ: wants a judge in U.S. bankruptcyh court in Delaware to set a bid deadlinr of July 14 and a July 16 date to auctionm offthe retailer’s assets. But , headquartereds in Santa Monica, Calif., and three othert landlords want more time to evaluatee anyproposed deal. “The landlords did not creatwe debtors’ financial maladies, and should not bear the consequences of this bankruptcyt through loss of theircontractual rights,” Macerich and the otheer landlords said in a court filing Eddie Bauer filed for Chapter 11 bankruptcty protection June 17.
The New York private equithy firm has made an offer to buyEddie Bauer’sa assets for $202 million, subject to an auctiomn and bankruptcy court approval. CCMP has said it has agreedd to keep most ofEddid Bauer’s 371 stores if it were the winning bidder. But the company said it woulf close an undisclosed number ofunderperforming stores. The Macerichu Co. leases space to Eddie Bauer at Redmond Town Centefin Redmond, Wash., and Portland’xs Washington Square. Also objecting in the bankruptch case are Eddie Bauer landlordsz SouthgateMall Associates, The Forbess Co. and Collectively the four companies leasde space to 20 Eddie Bauer stores in14 states.
Tuesday, June 21, 2011
FBI: Mortgage fraud on the rise - South Florida Business Journal:
ermolayenayqaked.blogspot.com
as distressed homeowners look for answerzs to troubled mortgages and find littlr help fromtheir banks, according to a new FBI report. Suspiciousa activity reports referred to law enforcement increaserd36 percent, to 63,713 durin g fiscal year 2008 from 46,717 reports in 2007. While the total dollar loss attributed to mortgagd fraudis unknown, financial institutions reported losses of at leas t $1.4 billion, an increase of 83.4 percent from according to the report. The Los Angeles fieldf office ledthe pack, with 9,971q suspicious activity reports in 2008.
Miami followed, with 5,155 In , Florida was ranked third in the nation in the amount of mortgage fraudc activity in the first quartedr ofthe year, according to Mortgage.com's FraudBlogger a measure of mortgage fraud case activity. The downward trenxd in the housing market during 2008 provided a favorablw climate for mortgage fraud schemes to thereport noted. In May, the reported that a record-high 12.07 percent of U.S. mortgages borrowers were either behind in their payments orfacinyg foreclosure.
The FBI report said mortgaged scams on the rise include fraudulent short bankruptcy filings and reversemortgage schemes, refinancings, modifications and sometimes arson to collecyt insurance money. Some of the fraud schemese hurt consumersand borrowers, while others hurt originall lenders, according to the report. The FBI also noterd some less-reputable mortgage firms give the appearances to consumers they are government housinhg agencies empowered by theObama administration’s stimulus and mortgage rescue programs. Florida’s attorney general created a Web site designeds tohelp homeowners. The Web at http://myfloridalegal.
com/mortgagefraud, provides homeowners with access to complaint forms, and tips to identify and avoid foreclosure rescu fraud. to see the FBI report.
as distressed homeowners look for answerzs to troubled mortgages and find littlr help fromtheir banks, according to a new FBI report. Suspiciousa activity reports referred to law enforcement increaserd36 percent, to 63,713 durin g fiscal year 2008 from 46,717 reports in 2007. While the total dollar loss attributed to mortgagd fraudis unknown, financial institutions reported losses of at leas t $1.4 billion, an increase of 83.4 percent from according to the report. The Los Angeles fieldf office ledthe pack, with 9,971q suspicious activity reports in 2008.
Miami followed, with 5,155 In , Florida was ranked third in the nation in the amount of mortgage fraudc activity in the first quartedr ofthe year, according to Mortgage.com's FraudBlogger a measure of mortgage fraud case activity. The downward trenxd in the housing market during 2008 provided a favorablw climate for mortgage fraud schemes to thereport noted. In May, the reported that a record-high 12.07 percent of U.S. mortgages borrowers were either behind in their payments orfacinyg foreclosure.
The FBI report said mortgaged scams on the rise include fraudulent short bankruptcy filings and reversemortgage schemes, refinancings, modifications and sometimes arson to collecyt insurance money. Some of the fraud schemese hurt consumersand borrowers, while others hurt originall lenders, according to the report. The FBI also noterd some less-reputable mortgage firms give the appearances to consumers they are government housinhg agencies empowered by theObama administration’s stimulus and mortgage rescue programs. Florida’s attorney general created a Web site designeds tohelp homeowners. The Web at http://myfloridalegal.
com/mortgagefraud, provides homeowners with access to complaint forms, and tips to identify and avoid foreclosure rescu fraud. to see the FBI report.
Saturday, June 18, 2011
Apple stock down on new iPhone, but no Jobs - Phoenix Business Journal:
http://introvision.biz/articles/3.html
The stock finished trading at $143.85, down 0.57 after being down as more than 3 percen earlier inthe day. Speculationm ahead of the San Francisco event centered on if CEO Stevr Jobs would make his first appearance sincs taking medical leave earlier this year and whether the company would unveil its nextgeneratioj iPhone. Jobs didn't make an appearance, but Bloomberhg News cited unnamed sources Monday who said that he had been activelyt involved inthe company's preparation for Monday's conference. The new iPhone is nearly three times fasterr to download Web page and comes witha 3-megapixel autofocusx camera. It also has voice-contro l features and a built-in compass.
The 3GS also has improvec battery life with up to nine hours on 10 hours whilewatching video, 30 houre using audio, 12 hours using 2G talk and five hourxs using 3G talk. It also features a new built-ibn digital compass for instant navigation. The new available in black and white onJune 19, will sell for $199 for a 16GB modepl and $299 for 32GB. New versions of the MacBook Pro. A 15-inch version that startsx at $1,699, a lower-priced 17-inch that starts at $2,499 and a 13-inc h version that starts at $1,199. — Lower pricesa for the MacBookAir ultra-thin line, cutting $700 off the 128GB modek to $1,799 and cutting $300 off the base modekl at $1,499.
— A new version of the Mac operatinbg system, Snow Leopard, that is fastet to install and takes up 6 gigabytexs less harddrive space. The new operatin system comes with a new version of the Safari Web browser that Apple says is more robusf and faster thanprevious versions. — New iPhonw software including ability to cut and paste data and an alertt feature that helps users find their deviced or remotely wipe its memory cleanh if it gets stolen and later restore it using aniTunes backup.
Apple said at the conference that it has now sold more than 40 milliob iPhones and iPod Touches and that users of the devicez have a choice of morethan 50,000 software applicationsx they can download.
The stock finished trading at $143.85, down 0.57 after being down as more than 3 percen earlier inthe day. Speculationm ahead of the San Francisco event centered on if CEO Stevr Jobs would make his first appearance sincs taking medical leave earlier this year and whether the company would unveil its nextgeneratioj iPhone. Jobs didn't make an appearance, but Bloomberhg News cited unnamed sources Monday who said that he had been activelyt involved inthe company's preparation for Monday's conference. The new iPhone is nearly three times fasterr to download Web page and comes witha 3-megapixel autofocusx camera. It also has voice-contro l features and a built-in compass.
The 3GS also has improvec battery life with up to nine hours on 10 hours whilewatching video, 30 houre using audio, 12 hours using 2G talk and five hourxs using 3G talk. It also features a new built-ibn digital compass for instant navigation. The new available in black and white onJune 19, will sell for $199 for a 16GB modepl and $299 for 32GB. New versions of the MacBook Pro. A 15-inch version that startsx at $1,699, a lower-priced 17-inch that starts at $2,499 and a 13-inc h version that starts at $1,199. — Lower pricesa for the MacBookAir ultra-thin line, cutting $700 off the 128GB modek to $1,799 and cutting $300 off the base modekl at $1,499.
— A new version of the Mac operatinbg system, Snow Leopard, that is fastet to install and takes up 6 gigabytexs less harddrive space. The new operatin system comes with a new version of the Safari Web browser that Apple says is more robusf and faster thanprevious versions. — New iPhonw software including ability to cut and paste data and an alertt feature that helps users find their deviced or remotely wipe its memory cleanh if it gets stolen and later restore it using aniTunes backup.
Apple said at the conference that it has now sold more than 40 milliob iPhones and iPod Touches and that users of the devicez have a choice of morethan 50,000 software applicationsx they can download.
Thursday, June 16, 2011
BURNSIDE v. GEICO GENERAL INSURANCE COMPANY - Leagle.com
http://big-pop.com/?f=0&n=2
BURNSIDE v. GEICO GENERAL INSURANCE COMPANY Leagle.com Robert W. Burnside and Marianne E. Burnside appeal the trial court's grant of summary judgment to GEICO General Insurance Company on the Burnsides' declaratory-judgment action, in which the Burnsides claim to have never received notice from GEICO ... |
Tuesday, June 14, 2011
Planned layoffs fall 16% in May - Sacramento Business Journal:
ufysyho.wordpress.com
percent more than the 103,522 announcedc in the same month ayear ago. This year has not been kind to The report found that so far in 2009 employeras haveannounced 822,282 job cuts, more than doubles the 394,193 announced through May last year. But while job cuts remained well abovelast year's pace, May marked the fourthb consecutive month with a decline in job-cu t announcements. Since reaching a peak of 241,749 in January, job-cut totalas have fallen by an averageof 17.5 percenty per month. Chief executive officer John Challengefr remains cautious about the jobmarketzs prospects. “This decline in job cuts coulsbe short-lived,” Challenger said.
“The second quarter is typically the lowest quarter of the year when it comez tojob cuts. Corporate downsizing may continuw to remain slow during the summer but if the past isany indication, we couldd see the pace accelerate again in the latterr half of the thirdf quarter through the end of the
percent more than the 103,522 announcedc in the same month ayear ago. This year has not been kind to The report found that so far in 2009 employeras haveannounced 822,282 job cuts, more than doubles the 394,193 announced through May last year. But while job cuts remained well abovelast year's pace, May marked the fourthb consecutive month with a decline in job-cu t announcements. Since reaching a peak of 241,749 in January, job-cut totalas have fallen by an averageof 17.5 percenty per month. Chief executive officer John Challengefr remains cautious about the jobmarketzs prospects. “This decline in job cuts coulsbe short-lived,” Challenger said.
“The second quarter is typically the lowest quarter of the year when it comez tojob cuts. Corporate downsizing may continuw to remain slow during the summer but if the past isany indication, we couldd see the pace accelerate again in the latterr half of the thirdf quarter through the end of the
Saturday, June 11, 2011
Wind proponents make up-close pitch for technology - New Mexico Business Weekly:
ejoxot.wordpress.com
Built in 2001, the turbine knowmn as Hull Wind 1 was the firs t to be erected by a community the Hull MunicipalLighg Plant. The 660-kilowatt turbine — combinedr with a second, 1.8-megawatt turbine erected inlan — supplies a significant portion of theseaside town’ws electric load as well as renewable energy creditsa for the and Harvard University. As communities arounf the state investigate the benefits and the negatives of wind turbines on publi andprivate land, clean-energy advocates are usint the Hull wind farm as an opportunityy for people to understand what a functioning turbinse actually looks like and, they hope, sparki interest in the technology.
Action for Cleah Energy, a nonprofit advocating for community-based renewable energ y projects, and clean-tech executive search firm , organizeed the tour for more than 100 ranging from industry executives to middlesschool students. “It’s an opportunity to get thesse kids exposed torenewable energy,” said Matthes Richards, managing director of Dane Partners. While low clouds shrouded it fromsightt offshore, the turbine known as Hull Wind 1 coulds not hide on dry land. Rising nearly 165 feet in the air and about 155feet across, the hulking steel structurse towers over the adjacen high school at the tip of Pembertobn Point.
The much-talked-about noise of turbinesx was not audiblefrom afar, but a whirling sounrd made the tour guides, Andrew Stern from nonprofit Action For , chairman of the lighty plant’s board of overseers, shout as they stoode underneath the blades. “There’ one guy in town who ownede a naturalfoods store, Malcolm and he was a royakl pest,” said Cannon, referrint to the man who led the charge in the late 1990s to builc the turbine.
A much smallee 40-kilowatt turbine had generatedc power for the high but Brown wantedto re-power the site with a turbined that could distribute power to town Brown and Stern, who were choseb to lead a citizens grouop promoting the turbine, worked with professor Jamee Manwell to assess the viabilith of a project, completing the study in the fall of 1999. By Januargy 2001, the town was soliciting bids for turbines and threer months later chose Danish turbinemaker Vestas.
Steppingh into the turbine throug h a porthole is more like entering a servere room than a tower or Instead of the spiral staircases that some sightseerx said they expected there were a metal boxese with control panels thatmeasurr windspeed, direction and amount of power generated. An operatord can turn the turbine 330 degrees to catchnthe wind. As people circulated in and out ofthe turbine’es guts, their voices echoing in the hollow there was one control Stern warned guests to avoid: the stop In a matter of seconds the turbines can go from spinnin g at 50 miles an hour to a dead Since December 2001, when the turbine went into it has generated more than 11 millionn kilowatt-hours of power.
The town self-financed the $820,0000 project, which paid for itself in six HullWind 2, completedc in 2006 at a cost of $2.2 has a roughly seven-year return on investment. Hull is lookin to tread carefully into the waters of offshors wind as well as tidal power Cannon said, although the financiapl metrics are much different. “It’s a very expensive he said, referring to offshorr wind. “It will probablt come down to grant money.
”
Built in 2001, the turbine knowmn as Hull Wind 1 was the firs t to be erected by a community the Hull MunicipalLighg Plant. The 660-kilowatt turbine — combinedr with a second, 1.8-megawatt turbine erected inlan — supplies a significant portion of theseaside town’ws electric load as well as renewable energy creditsa for the and Harvard University. As communities arounf the state investigate the benefits and the negatives of wind turbines on publi andprivate land, clean-energy advocates are usint the Hull wind farm as an opportunityy for people to understand what a functioning turbinse actually looks like and, they hope, sparki interest in the technology.
Action for Cleah Energy, a nonprofit advocating for community-based renewable energ y projects, and clean-tech executive search firm , organizeed the tour for more than 100 ranging from industry executives to middlesschool students. “It’s an opportunity to get thesse kids exposed torenewable energy,” said Matthes Richards, managing director of Dane Partners. While low clouds shrouded it fromsightt offshore, the turbine known as Hull Wind 1 coulds not hide on dry land. Rising nearly 165 feet in the air and about 155feet across, the hulking steel structurse towers over the adjacen high school at the tip of Pembertobn Point.
The much-talked-about noise of turbinesx was not audiblefrom afar, but a whirling sounrd made the tour guides, Andrew Stern from nonprofit Action For , chairman of the lighty plant’s board of overseers, shout as they stoode underneath the blades. “There’ one guy in town who ownede a naturalfoods store, Malcolm and he was a royakl pest,” said Cannon, referrint to the man who led the charge in the late 1990s to builc the turbine.
A much smallee 40-kilowatt turbine had generatedc power for the high but Brown wantedto re-power the site with a turbined that could distribute power to town Brown and Stern, who were choseb to lead a citizens grouop promoting the turbine, worked with professor Jamee Manwell to assess the viabilith of a project, completing the study in the fall of 1999. By Januargy 2001, the town was soliciting bids for turbines and threer months later chose Danish turbinemaker Vestas.
Steppingh into the turbine throug h a porthole is more like entering a servere room than a tower or Instead of the spiral staircases that some sightseerx said they expected there were a metal boxese with control panels thatmeasurr windspeed, direction and amount of power generated. An operatord can turn the turbine 330 degrees to catchnthe wind. As people circulated in and out ofthe turbine’es guts, their voices echoing in the hollow there was one control Stern warned guests to avoid: the stop In a matter of seconds the turbines can go from spinnin g at 50 miles an hour to a dead Since December 2001, when the turbine went into it has generated more than 11 millionn kilowatt-hours of power.
The town self-financed the $820,0000 project, which paid for itself in six HullWind 2, completedc in 2006 at a cost of $2.2 has a roughly seven-year return on investment. Hull is lookin to tread carefully into the waters of offshors wind as well as tidal power Cannon said, although the financiapl metrics are much different. “It’s a very expensive he said, referring to offshorr wind. “It will probablt come down to grant money.
”
Thursday, June 9, 2011
Nixon, Quinn push Biden, LaHood for high-speed rail - The Business Review (Albany):
gardellaorymiid1354.blogspot.com
In April, Nixon and Quinn, along with six other Midwesterh governors, to LaHood asking him to support plans for rail corridorxs between cities intheir states, including St. Louis to Chicag o and St. Louis to Kansas Illinois has completed an environmental impact statementy forthe Chicago-St. Louis corridor. “Missouri and our partnerr states in the already have a competitive advantage becausd we have been workinyg on this rail initiative for more than a Nixon said in a statement aftertthe roundtable.
“I reiterated our strong position to Vice President Bidej today while we discussed the viability of high speed rail The White House and the have said they would from the Americamn Recovery andReinvestment Act, and $1 billion a year for five yeards as a down payment to develop a passenger rail system. The other governors at the meetint were Jim Doyleof Wisconsin, Jenniferr Granholm of Michigan, Tim Kaine of Virginia, Devao Patrick of Massachusetts, Sonny Perdue of Georgia and Ed Rendello of Pennsylvania.
In April, Nixon and Quinn, along with six other Midwesterh governors, to LaHood asking him to support plans for rail corridorxs between cities intheir states, including St. Louis to Chicag o and St. Louis to Kansas Illinois has completed an environmental impact statementy forthe Chicago-St. Louis corridor. “Missouri and our partnerr states in the already have a competitive advantage becausd we have been workinyg on this rail initiative for more than a Nixon said in a statement aftertthe roundtable.
“I reiterated our strong position to Vice President Bidej today while we discussed the viability of high speed rail The White House and the have said they would from the Americamn Recovery andReinvestment Act, and $1 billion a year for five yeards as a down payment to develop a passenger rail system. The other governors at the meetint were Jim Doyleof Wisconsin, Jenniferr Granholm of Michigan, Tim Kaine of Virginia, Devao Patrick of Massachusetts, Sonny Perdue of Georgia and Ed Rendello of Pennsylvania.
Tuesday, June 7, 2011
UW-Whitewater, Milwaukee 7 Water Council to jointly train students - Boston Business Journal:
awipekyhila.blogspot.com
The program will begin enrolling students in the fallsemeste and, because many students have already taken relevan t courses, should be graduating its first water management specialists within a year, said Kirsten associate professor of biology at UW-Whitewatet and coordinator of the school’s integrater science-business major. The program is designer to give students a basic background inwater law, environmentapl law, natural resources and environmental economicsx as well as aquatic chemistry and ecology.
Students will serve internships with the Milwaukees 7Water Council, an organization of business, academiw and government in the seven-counth area in southeastern Wisconsin that is workinf to establish the Milwaukede region as a global center for freshwater research, economixc development and education. “Recognizing wher the world is headed, business students with a uniqur educational background in water will have a leg up in the making a program like this especially saidRich Meeusen, chairman, president and CEO of Browh Deer-based , co-chair of the Milwaukee 7 Water Councik and an alumnus of UW-Whitewater’s business The council already has a relationships with the graduated program at the ’s .
UWM also is developingv a graduate-level School of Freshwater while ’s Law School will begin a watedr law curriculumthis fall. “One of our goals is to help developp seamless talent pipelines between universitie s andwater businesses,” said Paul chairman and CEO of Milwaukee-based and co-chair of the Watef Council. “UW-Whitewater’s one-of-a-kind new track adds to the impressivre array of higher education institutions in the region working to ensurew our world water hub status in the years to come.
”
The program will begin enrolling students in the fallsemeste and, because many students have already taken relevan t courses, should be graduating its first water management specialists within a year, said Kirsten associate professor of biology at UW-Whitewatet and coordinator of the school’s integrater science-business major. The program is designer to give students a basic background inwater law, environmentapl law, natural resources and environmental economicsx as well as aquatic chemistry and ecology.
Students will serve internships with the Milwaukees 7Water Council, an organization of business, academiw and government in the seven-counth area in southeastern Wisconsin that is workinf to establish the Milwaukede region as a global center for freshwater research, economixc development and education. “Recognizing wher the world is headed, business students with a uniqur educational background in water will have a leg up in the making a program like this especially saidRich Meeusen, chairman, president and CEO of Browh Deer-based , co-chair of the Milwaukee 7 Water Councik and an alumnus of UW-Whitewater’s business The council already has a relationships with the graduated program at the ’s .
UWM also is developingv a graduate-level School of Freshwater while ’s Law School will begin a watedr law curriculumthis fall. “One of our goals is to help developp seamless talent pipelines between universitie s andwater businesses,” said Paul chairman and CEO of Milwaukee-based and co-chair of the Watef Council. “UW-Whitewater’s one-of-a-kind new track adds to the impressivre array of higher education institutions in the region working to ensurew our world water hub status in the years to come.
”
Sunday, June 5, 2011
How To Reinvent An Institution - NPR
esyy23mozy.blogspot.com
How To Reinvent An Institution NPR ROBERT: My experience, I was in the military during the Tailhook scandal, and that had very rapidly, wracking changes in morale, and, you know, cohesiveness, all of those big words that they throw around nowadays over gender. ... |
Thursday, June 2, 2011
Anchor BanCorp amends credit pact - San Antonio Business Journal:
ucenyt.wordpress.com
Under the terms of the amendment, the maturityh date on Anchor’s balance of the $116.3 milliom loan has been extended for a full and is nowMay 31, 2010, and no principalp payment is due prior to the maturituy date, Madison-based Anchor (NASDAQ: said Friday. “The significant additiona l time afforded by the amended terms of the loan agreementf provides us an opportunitg to work our financial strateggy to achieve fulfillment of the conditions of our line of saidDoug Timmerman, chairmaj and CEO. Timmerman said Ancho executives believe the amendmentwith U.S. Bank will assistf Anchor with plans to raiseadditionalk capital.
Anchor BanCorp in March had reachecd an agreement to extend the due date for the crediytwith U.S. Bank untiol near the end of May. The extension relieved Anchor BanCorp from reducingits $116.3 million debt on the line of credir to $60 million to meet an automatic principalk reduction of the loan commitment. If Anchort had not paid the U.S. Bank, could have seized Anchor BanCorp in aforeclosur proceeding. AnchorBank fsb has 74 full-service offices and two loan origination-onluy offices, all in Wisconsin.
Under the terms of the amendment, the maturityh date on Anchor’s balance of the $116.3 milliom loan has been extended for a full and is nowMay 31, 2010, and no principalp payment is due prior to the maturituy date, Madison-based Anchor (NASDAQ: said Friday. “The significant additiona l time afforded by the amended terms of the loan agreementf provides us an opportunitg to work our financial strateggy to achieve fulfillment of the conditions of our line of saidDoug Timmerman, chairmaj and CEO. Timmerman said Ancho executives believe the amendmentwith U.S. Bank will assistf Anchor with plans to raiseadditionalk capital.
Anchor BanCorp in March had reachecd an agreement to extend the due date for the crediytwith U.S. Bank untiol near the end of May. The extension relieved Anchor BanCorp from reducingits $116.3 million debt on the line of credir to $60 million to meet an automatic principalk reduction of the loan commitment. If Anchort had not paid the U.S. Bank, could have seized Anchor BanCorp in aforeclosur proceeding. AnchorBank fsb has 74 full-service offices and two loan origination-onluy offices, all in Wisconsin.
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