(Reuters) - Monson, director of the Center for Family Enterprise at the University of St. Thomas, a Minnesota school named for the 13th century saint, teaches a unique family business course where parents must attend along with their children.
The idea started as a way to tackle the often-thorny issue of succession in a family-run company, but after teaching his spring-term class of seven students plus parents, Monson found that both generations came away with a newfound respect for one another that may help their family businesses survive.
Read more at Reuters.com Business News
Friday, 11 May 2007
Post Properties shares fly on buyout rumor
(Reuters) - In early afternoon trading on the New York Stock Exchange, Post shares were up $2.75, or 5.4 percent, at $53.74. On Thursday the shares rose 7 percent. Year to date, Post shares are up 18 percent, while the MSCI U.S. REIT Index, a yardstick used to measure REIT share performance, is off 7 percent. Earlier Friday shares reached a record $54.80.
Green Street Advisors analyst Craig Leupold estimated the value of the company's assets are about $54.00 per share, but given the amount of capital chasing real estate, a bid could be higher.
Read more at Reuters.com Hot Stocks News
Green Street Advisors analyst Craig Leupold estimated the value of the company's assets are about $54.00 per share, but given the amount of capital chasing real estate, a bid could be higher.
Read more at Reuters.com Hot Stocks News
U.S. to present trade pact partners with changes soon
(Reuters) - Changes are required in the four agreements because of the bipartisan deal announced late Thursday by Democratic House of Representatives Speaker Nancy Pelosi, U.S. Trade Representative Susan Schwab, U.S. Treasury Secretary Henry Paulson and other senior Democratic and Republican lawmakers.
"We're going to try to do it as quickly as we can, hopefully in the next couple of days," an official in the U.S. Trade Representative's office told reporters.
Read more at Reuters.com Bonds News
"We're going to try to do it as quickly as we can, hopefully in the next couple of days," an official in the U.S. Trade Representative's office told reporters.
Read more at Reuters.com Bonds News
Chrysler workers hire bid adviser
(Reuters) - Gordon declined to be more specific on his company's role and the exact number of workers in the group, but said the group was "growing."
A group of Chrysler workers in Toledo, Ohio formed an "employee buyout committee" and sent a formal proposal to Chrysler last month.
Read more at Reuters.com Bonds News
A group of Chrysler workers in Toledo, Ohio formed an "employee buyout committee" and sent a formal proposal to Chrysler last month.
Read more at Reuters.com Bonds News
Canadian Stocks Rise, Led by Energy Shares; Thomson Advances on Unit Sale
(Bloomberg) -- Canada's main stock index rose a record, led by commodity producers including EnCana Corp. and Alcan Inc., as rising materials prices spurred speculation there will be more asset sales and takeovers.
Shares of Thomson Corp. rose after it realized a greater-than- expected $7.75 billion in an asset sale, adding muscle to its takeover bid for Reuters Group Plc.
Read more at Bloomberg Stocks News
Shares of Thomson Corp. rose after it realized a greater-than- expected $7.75 billion in an asset sale, adding muscle to its takeover bid for Reuters Group Plc.
Read more at Bloomberg Stocks News
Fannie Mae sells $1.0 bln benchmark REMIC
(Reuters) - Settlement is May 16.
Citigroup Global Markets Inc., J.P. Morgan Securities Inc. and UBS Securities LLC were the joint lead managers on the sale.
Read more at Reuters.com Bonds News
Citigroup Global Markets Inc., J.P. Morgan Securities Inc. and UBS Securities LLC were the joint lead managers on the sale.
Read more at Reuters.com Bonds News
UPDATE 1-Geokinetics' public offering priced at $28/shr
(Reuters) - The company said it would use the net proceeds from the offering to redeem the $110 million of second priority senior secured floating rate notes due 2012 it issued in December 2006.
Geokinetics and one existing stockholder have granted the underwriters a 30-day option to purchase up to an additional 675,000 common shares to cover over-allotments, the company said in a statement.
Read more at Reuters.com Government Filings News
Geokinetics and one existing stockholder have granted the underwriters a 30-day option to purchase up to an additional 675,000 common shares to cover over-allotments, the company said in a statement.
Read more at Reuters.com Government Filings News
Crude Oil Rises on Concern U.S. Summer Gasoline Supplies May Be Disrupted
(Bloomberg) -- Crude oil was rose on concern that motor-fuel supplies may be disrupted this summer because of repairs at U.S. refineries and reduced oil output in Africa.
Repairs were announced yesterday at refineries in Texas and Delaware, curbing gasoline production. U.S. gasoline demand peaks during the summer driving season, which starts with the Memorial Day holiday at the end of this month. Total SA shut an oil field in the Republic of Congo after a fire yesterday. Nigerian output has been slashed over the past year because of militant attacks.
Read more at Bloomberg Energy News
Repairs were announced yesterday at refineries in Texas and Delaware, curbing gasoline production. U.S. gasoline demand peaks during the summer driving season, which starts with the Memorial Day holiday at the end of this month. Total SA shut an oil field in the Republic of Congo after a fire yesterday. Nigerian output has been slashed over the past year because of militant attacks.
Read more at Bloomberg Energy News
Movie Gallery posts loss on charge as shares fall
(Reuters) - Excluding a 58 cent per share charge to write off unamortized deferred financing fees related to Movie Gallery's senior credit facility, the company earned 11 cents per share.
Analysts on average had been expecting a profit of 53 cents a share, excluding items, according to Reuters Estimates.
Read more at Reuters.com Business News
Analysts on average had been expecting a profit of 53 cents a share, excluding items, according to Reuters Estimates.
Read more at Reuters.com Business News
European Stocks Recoup Earlier Losses as Rio Tinto, RWE and Volvo Advance
(Bloomberg) -- European stocks recovered losses as Rio Tinto Group, RWE AG and Volvo AB gained.
The Dow Jones Stoxx 600 Index added less than 0.1 percent to 388.03 as of 3:22 p.m. in London after falling as much as 1.2 percent earlier. The Stoxx 50 gained 0.2 percent and the Euro Stoxx 50, a measure for the 13 nations sharing the euro, was little changed.
Read more at Bloomberg Stocks News
The Dow Jones Stoxx 600 Index added less than 0.1 percent to 388.03 as of 3:22 p.m. in London after falling as much as 1.2 percent earlier. The Stoxx 50 gained 0.2 percent and the Euro Stoxx 50, a measure for the 13 nations sharing the euro, was little changed.
Read more at Bloomberg Stocks News
U.S. leading index growth rate at 3-year high-ECRI
(Reuters) - Its annualized growth rate rose to 5.2 percent, a three-year high, from 4.4 percent the previous week.
"WLI growth has improved significantly of late; accordingly, the U.S. economic growth outlook is fairly optimistic in contrast with the more coincident sales figures recently released," said Lakshman Achuthan, managing director at ECRI.
Read more at Reuters.com Bonds News
"WLI growth has improved significantly of late; accordingly, the U.S. economic growth outlook is fairly optimistic in contrast with the more coincident sales figures recently released," said Lakshman Achuthan, managing director at ECRI.
Read more at Reuters.com Bonds News
Brazil Real Rises as April Inflation Data in Line With Analysts' Estimates
(Bloomberg) -- Brazil's real rose after inflation data met analysts' expectations, reassuring investors that the value of local bonds and stocks won't erode.
Brazil offers the highest real interest rate among emerging markets. Brazil's real interest rate is 9.54 percent, after subtracting the 3 percent annual inflation rate, according to data compiled by Bloomberg. Turkey's real interest rate of 8.3 percent is the next highest. The U.S. has a real rate of 2.45 percent.
Read more at Bloomberg Currencies News
Brazil offers the highest real interest rate among emerging markets. Brazil's real interest rate is 9.54 percent, after subtracting the 3 percent annual inflation rate, according to data compiled by Bloomberg. Turkey's real interest rate of 8.3 percent is the next highest. The U.S. has a real rate of 2.45 percent.
Read more at Bloomberg Currencies News
Retail sales drop as inflation muted
(Reuters) - A Commerce Department report on Friday showed sales by U.S. retailers fell 0.2 percent to a seasonally adjusted $372.03 billion last month, hurt by a one-two punch of soaring gasoline prices and a slumping housing market.
But separately, the Labor Department said that while costlier energy pushed producer prices up 0.7 percent in April, the so-called core rate that strips out food and energy costs was unchanged from March.
Read more at Reuters.com Business News
But separately, the Labor Department said that while costlier energy pushed producer prices up 0.7 percent in April, the so-called core rate that strips out food and energy costs was unchanged from March.
Read more at Reuters.com Business News
Occidental Petroleum to sell its stake in Lyondell Chemical
(Reuters) - For the remaining 14 million shares, Occidental said it entered into a total return swap agreement and intends to sell those shares in the open market.
Read more at Reuters.com Mergers News
Read more at Reuters.com Mergers News
Valuation conundrum looms over CDO boom
(Reuters) - Investors snapped up some $600 billion of synthetic CDOs last year, attracted by their much higher yields compared to corporate bonds with identical credit ratings. That added to a market estimated in the trillions of dollars.
The problem is the process used to price tranche risk is uncertain. That is dangerous for banks that use the instruments to hedge regulatory capital requirements and for investors, who may struggle to gauge what will happen to their investments if companies in the portfolio default.
Read more at Reuters.com Bonds News
The problem is the process used to price tranche risk is uncertain. That is dangerous for banks that use the instruments to hedge regulatory capital requirements and for investors, who may struggle to gauge what will happen to their investments if companies in the portfolio default.
Read more at Reuters.com Bonds News
Treasuries Maintain Gains After Report Shows April Retail Sales Declined
(Bloomberg) -- Treasuries maintained gains after a government report showed retail sales in the U.S. declined last month.
The data may lead traders to resume betting the Federal Reserve will cut interest rates this year as segments of the economy, including consumer spending and housing, show signs of weakness.
Read more at Bloomberg Bonds News
The data may lead traders to resume betting the Federal Reserve will cut interest rates this year as segments of the economy, including consumer spending and housing, show signs of weakness.
Read more at Bloomberg Bonds News
Microsoft, SanDisk to develop advanced memory cards
(Reuters) - The new memory cards will be available commercially in the second half of 2008. Financial terms were not disclosed.
Read more at Reuters.com Business News
Read more at Reuters.com Business News
RPT-FEATURE-Credit-score panacea failed to stop mortgage crisis
(Reuters) - Lenders in the midst of an unprecedented U.S. housing boom pared borrowing requirements to a minimum -- a single number, known as a "FICO score," that was supposed to reflect the borrower's ability to repay a mortgage.
Traditional down-payment demands were dropped. Borrowers were taken at their word because checking a salary took too long. Proof of savings, housing history, a job -- sometimes these, too, fell by the wayside.
Read more at Reuters.com Bonds News
Traditional down-payment demands were dropped. Borrowers were taken at their word because checking a salary took too long. Proof of savings, housing history, a job -- sometimes these, too, fell by the wayside.
Read more at Reuters.com Bonds News
Russia's Micex Slumps for Fourth Day; Rosneft Falls on Industry Downgrade
(Bloomberg) -- Russian stocks dropped for a fourth day after Goldman, Sachs & Co. cut its recommendation on the country's oil companies.
OAO Rosneft and OAO Lukoil, Russia's largest oil producers, led the decline.
Read more at Bloomberg Stocks News
OAO Rosneft and OAO Lukoil, Russia's largest oil producers, led the decline.
Read more at Bloomberg Stocks News
Claire's Stores, Westar, Spansion, Verasun Energy: Corporate Bond Alert
(Bloomberg) -- Spansion Inc., the largest maker of mobile phone memory chips, and Thai petrochemicals company IRPC PCL are among borrowers planning to sell at least $11.3 billion of bonds in the U.S., data compiled by Bloomberg show.
Borrowers have sold $25.7 billion of debt this week, compared with $26.1 billion all of last week. Sales year-to-date total $448.3 billion, up from $382.4 billion a year ago.
Read more at Bloomberg Bonds News
Borrowers have sold $25.7 billion of debt this week, compared with $26.1 billion all of last week. Sales year-to-date total $448.3 billion, up from $382.4 billion a year ago.
Read more at Bloomberg Bonds News
Total CEO says to sell Sanofi stake soon
(Reuters) - "The money will help us finance investments. The priority is given to the lasting growth of our activities."
Sanofi-Aventis shares were trading at 67.40 euros by 1000 GMT on Friday, valuing Total's stake at around 12 billion euros .
Read more at Reuters.com Mergers News
Sanofi-Aventis shares were trading at 67.40 euros by 1000 GMT on Friday, valuing Total's stake at around 12 billion euros .
Read more at Reuters.com Mergers News
Cocoa Snaps Seven-Session Gain in London as European, U.S. Stockpikes Rise
(Bloomberg) -- Cocoa in London fell, snapping a seven-session gain, after stockpiles in Europe and the U.S. rose.
Inventories in warehouses tracked by the London's Euronext.liffe rose 0.5 percent in the two weeks ended May 10, to 180,310 metric tons, the second biweekly gain. Stockpiles have increased 58 percent this year. Bean inventories monitored by the Coffee, Sugar and Cocoa Exchange in the U.S. rose 1.1 percent to 777 million pounds (352 441 metric tons) in the week ended May 10.
Read more at Bloomberg Commodities News
Inventories in warehouses tracked by the London's Euronext.liffe rose 0.5 percent in the two weeks ended May 10, to 180,310 metric tons, the second biweekly gain. Stockpiles have increased 58 percent this year. Bean inventories monitored by the Coffee, Sugar and Cocoa Exchange in the U.S. rose 1.1 percent to 777 million pounds (352 441 metric tons) in the week ended May 10.
Read more at Bloomberg Commodities News
Swiss Franc Reaches 1-Month High as Traders Pare Carry Trades
(Bloomberg) -- The Swiss franc reached its best level versus the euro this month as falling stock markets prompted investors to reduce holdings of riskier assets.
The currency of Europe's eighth largest economy is set for only its second weekly gain in the past two months as investors reduce so-called carry trades, where they borrow in francs and buy higher yielding assets elsewhere. Currencies from the New Zealand dollar to the South African rand, carry-trade favorites, are set for weekly declines.
Read more at Bloomberg Currencies News
The currency of Europe's eighth largest economy is set for only its second weekly gain in the past two months as investors reduce so-called carry trades, where they borrow in francs and buy higher yielding assets elsewhere. Currencies from the New Zealand dollar to the South African rand, carry-trade favorites, are set for weekly declines.
Read more at Bloomberg Currencies News
DBS Group to Sell $1.75 Billion of Bonds in Asia's Largest Bank-Debt Sale
(Bloomberg) -- DBS Group Holdings Ltd., Southeast Asia's largest bank, is likely to raise $1.75 billion from investors in Asia's biggest bank-debt offering denominated in dollars, according to an e-mail sent to investors today.
To contact the reporter on this story: Denise Kee in Singapore at Dkee2@bloomberg.net .
Read more at Bloomberg Bonds News
To contact the reporter on this story: Denise Kee in Singapore at Dkee2@bloomberg.net .
Read more at Bloomberg Bonds News
Copper Heads for Its Largest Weekly Drop in Three Months; Nickel Declines
(Bloomberg) -- Copper headed for its largest weekly decline in three months in London on speculation demand growth will slow in China, the world's biggest user, after imports soared. Nickel and zinc also fell.
Deliverable stockpiles of copper monitored by the Shanghai Futures Exchange increased 26 percent to 85,269 metric tons, the exchange said today. That's the highest since May 2004. Imports of the metal into the country may slow in April, said analysts including Kevin Norrish at Barclays Capital.
Read more at Bloomberg Commodities News
Deliverable stockpiles of copper monitored by the Shanghai Futures Exchange increased 26 percent to 85,269 metric tons, the exchange said today. That's the highest since May 2004. Imports of the metal into the country may slow in April, said analysts including Kevin Norrish at Barclays Capital.
Read more at Bloomberg Commodities News
Shanghai copper limit down; stocks, LME weigh
(Reuters) - Shanghai copper prices dropped by their 4-percent daily limit on Friday after a fall in London futures and as the threat of a substantial rise in Chinese copper stocks weighed on sentiment.
Shanghai July copper was at 69,420 yuan a tonne at the close, down 4 percent or 2,900 yuan from Thursday's settlement price.
Read more at Reuters Africa
Shanghai July copper was at 69,420 yuan a tonne at the close, down 4 percent or 2,900 yuan from Thursday's settlement price.
Read more at Reuters Africa
Volvo Q1 pretax tops forecasts, ups Europe outlook
(Reuters) - STOCKHOLM, May 11 - Sweden's Volvo from 5.47 billion a year ago to come in well above the average forecast of 4.66 billion in a Reuters poll of 13 analysts. Following years of strong demand Volvo and its peers are experiencing a sharp fall in demand for heavy-duty trucks in the United States -- a hangover from a buying spree ahead of new tougher clean-air rules enforced at the turn of the year. "Despite the difficulties in the U.S., Trucks improved its profitability and reported a strong margin of 9.5 percent, the highest margin so far for the truck operation," the firm said.
Read more at Reuters.com Market News
Read more at Reuters.com Market News
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