“CIT Group's Special Offer To Small Business Lending Customers - Update - RTT News” plus 4 more |
- CIT Group's Special Offer To Small Business Lending Customers - Update - RTT News
- More Business - San Francisco Chronicle
- Teradata Provides CarMax with Centralized Business Knowledge - Yahoo Finance
- Business Expert Webinars' Speakers Collaborate to Help Small ... - PR-USA.net
- Customer Feedback Consulting Group E.G. Insight Adds Vice President of ... - Newswiretoday.com
| CIT Group's Special Offer To Small Business Lending Customers - Update - RTT News Posted: 14 Dec 2009 09:00 AM PST
(RTTNews) -
Monday, CIT Group Inc. (CIT: News ), a financer to small businesses and middle market companies, announced a special lending offer to its Small Business Lending customers to recognize the important role they continue to play creating much needed jobs and stimulating the American economy. CIT Small Business Lending will waive its $1,000 packaging fee on all approved Small Business Administration 7(a) loan applications starting with immediate effect through March 10, 2010. CIT Small Business Lending help women-, minority- and veteran-owned small businesses and also engaged in commercial real estate purchases and new construction financing for owner-occupied properties. The company stated that this waiver follows its earlier announcement to commit $500 million to support its Small Business Lending group in 2010 to fund government guaranteed loans in the SBA 7(a) and 504 lending programs. US small businesses employ about 59 million American with a significant impact on the American economy. Small businesses collectively account for more than half of the United States' non-farm private gross domestic product. CIT is currently being traded at $29.51 down $0.13 or 0.44% on the NYSE. by RTT Staff Writer For comments and feedback: contact editorial@rttnews.com fivefilters.org featured article: Normalising the crime of the century by John Pilger | |||
| More Business - San Francisco Chronicle Posted: 14 Dec 2009 08:39 AM PST Dubai World — a sprawling conglomerate with assets ranging from the oceanliner Queen Elizabeth 2 to luxury retailer Barney's New York — had been up against a Monday deadline to repay a pile of loans from its Nakheel property division. Some $4.1 billion of the emergency funds will be used to pay off those bills. The rest will go to shore up Dubai World itself. Dubai officials' reluctance to fully stand behind Dubai World's $60 billion in debts had raised serious concerns about the emirate's creditworthiness, and the move by Abu Dhabi appeared aimed at quashing those worries before they undercut confidence in the United Arab Emirates as a whole. The two emirates share control of the UAE, a federation of seven semiautonomous city-states. Authorities also softened their stance Monday, vowing that the city-state was committed to "transparency, good governance and market principles." Officials outlined a legal framework that promised to increase openness and protect creditors in future dealings with the conglomerate, offering lenders further reassurance in a country where formal bankruptcy proceedings are largely untested. "We are here today to reassure investors, financial and trade creditors, employees and our citizens that our government will act at all times in accordance with market principles and internationally accepted business practices," Sheik Ahmed bin Saeed Al Maktoum, chairman of the Dubai supreme fiscal committee, said in a statement. The bailout is the latest by Abu Dhabi. The emirate which controls the UAE's presidency has directly and indirectly provided Dubai with $25 billion over the past year, mostly by buying Dubai bonds. In all, Dubai owes more than $80 billion — roughly equal to its total economic output last year. The full extent of its liabilities is unknown, however, with some analysts putting the total at $100 billion or more. The aid package is key for Dubai, the second-richest of the UAE's city-states but which has little of the oil wealth held by Abu Dhabi. Dubai's ruler is the UAE's vice president and prime minister. Dubai created Dubai World — which has interests in seaports, real estate, tourism and retail — to diversify its economy and boost its international clout. Much of the growth was fueled by easy credit. As the bills came due, Dubai struggled to repay as its economy was battered by the global economic downturn. Dubai said the rest of the funds provided by Abu Dhabi will be used to cover the conglomerate's interest expenses and general business needs through the end of April, and to pay bills owed to "existing trade creditors and contractors." Bankers said the last-minute cash injection signaled a national approach to tackling Dubai's problems rather than leaving the struggling emirate to fend for itself. "This is a very significant development," said Marios Maratheftis, head of regional research at Standard Chartered Bank. "It shows once again there is a one-country approach in dealing with the crisis, which is positive." Investors cheered the news, which provided some clarity in a crisis that erupted late last month when the conglomerate unexpectedly said it was seeking new terms on repaying roughly $26 billion of its debts. The Dubai Financial Market's main index shot up 10.4 percent at the close. Abu Dhabi's stock market jumped 7.9 percent. Stocks in Asia rebounded from earlier losses after Dubai's announcement. Fahd Iqbal, a Dubai-based analyst at Middle East investment bank EFG-Hermes, said the rally was to be expected but urged caution. "This announcement constitutes a specific bailout of Nakheel, suggesting that as an entity (it) was deemed to be 'too big to fail,'" he said. "It does not, however, constitute a bailout of Dubai Inc. or Dubai World as a whole and this is important to highlight." Nakheel is a property developer and hotel operator best known for building manmade islands in the shape of palm trees and a map of the world off Dubai's coast. Standard & Poor's, which along with other credit rating agencies has aggressively cut its outlook on Dubai state-run companies, called Monday's move "a step towards rebuilding confidence," but warned that the government's ability to bail out other firms remains uncertain. Dubai World said in a separate statement it welcomed the financial support, which will provide "funding and a stable basis" for a restructuring the company announced last month. The conglomerate said it is pushing ahead with talks to convince lenders to agree to a "standstill" — effectively a delay — on repaying some of its debt. "As long as a standstill is successfully negotiated, Dubai World has assurances that the government of Dubai ... will provide financial support to cover working capital and interest expenses to ensure the continuity of key projects," the company said. To further reassure the market, the UAE's central bank, based Abu Dhabi, said it remains committed to standing behind the country's banks, including those with exposure to Dubai World and Nakheel. Dubai was also looking to salvage the sheikdom's reputation. Officials said the emirate plans to introduce a reorganization law that could be used in case Dubai World is "unable to achieve an acceptable restructuring of its remaining obligations." A person close to the Dubai government said the new law provided a legal framework for addressing corporate debt, though it did not mean a bankruptcy filing by state-owned companies was certain. "The current bankruptcy law is untested," the person said. "Dubai World needed a legal process to go through. The government was very focused on creating something that would be fair and transparent to everybody." He insisted on anonymity as a condition for briefing reporters on a conference call. It was not immediately clear what, if anything, Abu Dhabi would expect in exchange for Monday's funding. Analysts had said an Abu Dhabi bailout could result in it exerting greater influence on high profile neighbor going forward. But the individual close to the Dubai government said the money came with no strings attached. "Let me be clear: Dubai has not given anything up. There have been no conditions on the funding," he said. The individual said it was premature to discuss what assets Dubai World might be willing to sell to pay additional bills, though he added that "all options will be discussed." fivefilters.org featured article: Normalising the crime of the century by John Pilger | |||
| Teradata Provides CarMax with Centralized Business Knowledge - Yahoo Finance Posted: 14 Dec 2009 08:25 AM PST RICHMOND, Va., Dec. 14 /PRNewswire/ -- Teradata Corporation (NYSE: TDC), the world's largest company solely focused on data warehousing and enterprise analytics, has implemented an Active Enterprise Data Warehouse platform for CarMax, Inc. (NYSE: KMX), the nation's largest retailer of used cars. (Logo: http://www.newscom.com/cgi-bin/prnh/20090909/TERADATALOGO ) Prior to the Teradata Warehouse, CarMax used a combination of traditional database technologies. This implementation helps CarMax meet new business requirements for immediate access to near real-time data. Teradata met these needs in testing for mixed workload capabilities that are critical for CarMax applications. An active data warehouse makes organizational information available for decision and business transaction support in near real time and, as such, supports a high number of queries daily. "With the Teradata system we are able to deliver the infrastructure and performance needed to support today's analytic demands, as well as a foundation for future business intelligence requirements," said CarMax Chief Information Officer Richard Smith. "Teradata will further enable us to more efficiently access the data we need to analyze trends across our various business functions." Gene Sullivan, vice president Americas retail industry, Teradata Corporation, said, "With Teradata, CarMax will further strengthen its unique retail business model and enhance its capability to compete by making informed decisions using historical trends and insights." About CarMax CarMax, a Fortune 500 company, and one of the Fortune 2009 "100 Best Companies to Work For," is the nation's largest retailer of used cars. Headquartered in Richmond, Va., CarMax currently operates 100 used car superstores in 46 markets. The CarMax consumer offer is structured around four customer benefits: low, no-haggle prices; a broad selection; high quality vehicles; and customer-friendly service. During the twelve months ended February 28, 2009, the company retailed 345,465 used vehicles and sold 194,081 wholesale vehicles at our in-store auctions. For more information, access the CarMax website at http://www.carmax.com/. About Teradata Teradata Corporation (NYSE: TDC) is the world's largest company solely focused on raising intelligence through data warehousing, data warehouse appliances, consulting services and enterprise analytics. Teradata is in more than 60 countries and on the web at www.teradata.com Teradata is a trademark or registered trademark of Teradata Corporation in the United States and other countries. fivefilters.org featured article: Normalising the crime of the century by John Pilger | |||
| Business Expert Webinars' Speakers Collaborate to Help Small ... - PR-USA.net Posted: 14 Dec 2009 08:32 AM PST Business Expert Webinars (BEW), the leading provider of business eLearning training courses, announced that its speakers have teamed up to develop a book focused on small business. Business Expert Publishing, the book publishing arm of Business Expert Webinars, is publishing this collaborative work which is titled The Business Expert Guide to Small Business Success. Twenty-two leading business experts are contributing to the development of this book that addresses the critical areas for small businesses. | "It is said that knowledge is power. If you subscribe to that philosophy, small business owners are about to have Superman strength. The Business Expert Webinars' speaker team shares their keen insight for small businesses providing them with the knowledge they need to thrive," said Lee B. Salz, President and CEO of Business Expert Webinars. The collaboration authors and topics addressed in this book include: The book will be published in Spring 2010. About Business Expert Webinars Contact: fivefilters.org featured article: Normalising the crime of the century by John Pilger | ||
| Customer Feedback Consulting Group E.G. Insight Adds Vice President of ... - Newswiretoday.com Posted: 14 Dec 2009 08:39 AM PST
| Jane's main focus will be to create new business opportunities and strategic partnerships for E.G. Insight. She will work with companies to identify a feedback strategy aligned with business goals and supported by a variety of E.G. Insight tools, including the Customer Review Process (CRp®). The Customer Review Process is customized process that increases customer knowledge, improves customer relationships, reduces client turnover, and enhances the skills of a sales team. Jane brings a history of sales and marketing leadership to E.G. Insight. She was a consultant and business development leader for 21 years at Hewitt Associates, where she led the significant growth of Hewitt Associates' Minneapolis market as the market manager. Most recently she was the Vice President of Sales at RedBrick Health, a health care start-up company. Managing Partner Eric Engwall said, "We're excited to add someone with Jane's accomplishments to our team. She is a strong business development leader with a keen focus on helping clients. She has the experience and knowledge that helped her to have a positive impact on day one. Jane joins us with the right skills, at the right time, and we look forward to great things in 2010 and beyond." As organizations worldwide seek to build trust with their most important customers, E.G. Insight's aim is to share its experience, proven methods, and best practices in collecting actionable feedback. The addition of Jane to the team will help achieve this goal.
About E.G. Insight fivefilters.org featured article: Normalising the crime of the century by John Pilger | ||
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