Monthly Archives: January 2016

2016
01/25

Category:
Secured Financing

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CIT Group Inc. (CIT) Downgraded by Zacks Investment Research

CIT Group (NYSE:CIT) last announced its quarterly earnings data on Tuesday, November 3rd. The financial services provider reported $0.26 earnings per share (EPS) for the quarter, missing the Thomson Reuters consensus estimate of $0.75 by $0.49. During the same period last year, the company earned $2.76 EPS. Analysts predict that CIT Group will post $5.81 earnings per share for the current fiscal year.

CIT has been the subject of several other research reports. Macquarie raised shares of CIT Group from a neutral rating to an outperform rating and raised their price objective for the stock from $39.88 to $65.00 in a research note on Thursday, October 22nd. Oppenheimer raised their price objective on shares of CIT Group from $51.00 to $54.00 and gave the stock an outperform rating in a research note on Wednesday, November 4th. Credit Suisse decreased their price objective on shares of CIT Group from $48.00 to $47.00 and set a neutral rating for the company in a research note on Thursday, October 8th. Barclays raised their price objective on shares of CIT Group from $46.00 to $48.00 and gave the stock an equal weight rating in a research note on Wednesday, November 4th. Finally, BTIG Research reissued a buy rating and issued a $56.00 price objective on shares of CIT Group in a research note on Thursday, October 22nd. One analyst has rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the company. The company currently has an average rating of Buy and a consensus target price of $53.04.

CIT Group Inc. is a bank holding company (NYSE:CIT), which provides financing, leasing and advisory services principally to middle market companies. The Company operates in two segments: Transportation and International Finance (TIF), provider of leasing and financing solutions to operators and suppliers in the global aviation and railcar industries, and North American Commercial Finance (NACF)., which consists of four divisions: Commercial Services, Corporate Finance, Equipment Finance and Real Estate Finance. Commercial Services provides factoring, receivable management products, and secured financing to businesses. Corporate Finance provides a range of financing options and offers advisory services to small and medium size companies. Equipment Finance provides leasing and equipment loan solutions to small businesses and middle market companies. Real Estate Finance provides senior secured commercial real estate loans to developers and other commercial real estate professionals.

2016
01/24

Category:
Credit Cards

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Ventnor may let credit cards buy beach tags

Dale Gerhard

Beach Tag Checkers

Ventnor City beach tag checkers Taylor Hazlett 15 of Ventnor (left0 Meredith Miller 14 of Lindwood, (center) and Charlie Engelke 19 of Galloway, make their rounds on the beach in Ventnor. Wednesday July 24, 2013. (Dale Gerhard Photo/Press of Atlantic City)

2016
01/24

Category:
Secured Financing

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TCFCF Provides Financing to Support Dubin Clark Investments

TCF Capital Funding (TCFCF), a division of TCF National Bank, announced that it provided secured financing to support the refinancing of Dubin Clark Company portfolio company, Restoration Parts Group, Inc., and its acquisition of Auto Accessories of America, Inc. d/b/a Corvette America.  Headquartered in Reedsville, PA, Corvette America is one of the leading manufactures in the world of Corvette parts and accessories.

RPUI is based in Lebanon (Cincinnati), OH, and focuses on selling restoration parts and accessories to dealers serving automotive restoration enthusiasts.  The RPUI Group of companies includes seven leading automotive restoration brands: Trim Parts, Parts Unlimited Interiors, The Right Stuff Detailing, SoffSeal, First Place Auto Products, Mr. Mustang, and Corvette America.

“Dubin Clark has significant experience in the automotive aftermarket space, and we are excited to support RPUI as it expands its product offering with a very iconic brand,” said TCF Capital Funding Senior Vice President Edward Ryczek.

TCF Capital Funding provides cash flow and asset-based lending to lower middle-market businesses.  National in scope, this senior leveraged lending group focuses on providing private equity sponsor-backed cash flow loans and asset-based loans to companies with less than $100 million in revenue and between $2 million and $10 million in EBITDA. 

2016
01/23

Category:
Secured Financing

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Healdsburg’s Saggio Hills project moving forward


More than seven years after it was first approved, work is set to begin this year on a five-star resort and luxury home development in northern Healdsburg that will also include a large park and affordable housing that the city is requiring.

Saggio Hills, a 130-room resort with 70 homes expected to sell at more than $2 million each, also could include up to 150 affordable “workforce housing” units on a 14-acre site that the developer is required to deed to the city.

“The developer will make money,” said Mayor Tom Chambers, but “there are a lot of good things the city is getting out of it.”

He lauded a previous City Council for “driving a hard bargain” to make sure the project’s developer provides land for affordable housing, a fire station and a 36-acre public park with a playground, pavilion, hiking trails and athletic fields.

The developer, Robert S. Green Jr. of Encinitas, gave the city official notice last week that he was going forward with Saggio Hills, indicating that he has secured financing and is ready to apply for the final approval to begin building.

“The clock starts ticking, ” said City Manager David Mickaelian, describing how Green will be required to meet various deadlines to transfer portions of land to the city, along with paying almost $6 million to subsidize the affordable housing, park and substation for the fire department.

2016
01/23

Category:
Revenue

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Budget officials see 4.3% revenue growth ahead

BOSTON — State budget officials project that tax revenues will climb 4.3 percent in the fiscal year that begins on July 1, giving the Legislature and Baker administration nearly $26.9 billion to help fund government services and programs next fiscal year, leaders announced on Thursday.

Gov. Charlie Bakers budget chief and the chairs of the House and Senate Ways and Means Committees detailed a finalized revenue accord, which was due by Friday, that estimates $26.86 billion in tax revenues for fiscal 2017, about $1.12 billion more than the estimate being relied upon to finance the current years budget.

The estimate will serve as the basis for Gov. Charlie Bakers budget, which is due Jan. 27, and legislative budget-building exercises this spring and summer. Baker, during the 2014 campaign, pledged to increase local aid, including education and unrestricted aid to cities and towns, at the same rate state revenues grow by his second year in office.

Administration and Finance Secretary Kristen Lepore said the estimate reflects consistent growth in the Massachusetts economy. Economic experts in December testified before Lepore and lawmakers and projected, on average, a 4.1 percent revenue growth rate.

We are working to ensure that we match this consistent revenue growth with responsible spending. Over the long term we want to have a structurally balanced budget that serves the needs of the commonwealth at a price we can afford, Lepore said in a statement.

The officials also agreed to a 3.

2016
01/22

Category:
Secured Financing

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Goldman Sachs Lowers CIT Group Inc. (CIT) Price Target to $47.00

Several other equities research analysts have also recently commented on the company. BTIG Research reissued a buy rating and issued a $56.00 price target on shares of CIT Group in a research note on Thursday, October 22nd. Stifel Nicolaus reduced their target price on shares of CIT Group from $52.00 to $50.00 and set a buy rating for the company in a research note on Monday, November 9th. Barclays boosted their target price on shares of CIT Group from $46.00 to $48.00 and gave the stock an equal weight rating in a research report on Wednesday, November 4th. BMO Capital Markets began coverage on shares of CIT Group in a research note on Monday, November 2nd. They set a market perform rating on the stock. Finally, Credit Suisse dropped their price target on shares of CIT Group from $48.00 to $47.00 and set a neutral rating on the stock in a research note on Thursday, October 8th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the companys stock. CIT Group presently has an average rating of Buy and an average price target of $53.08.

CIT Group Inc. is a bank holding company (NYSE:CIT), which provides financing, leasing and advisory services principally to middle market companies. The Company operates in two segments: Transportation and International Finance (TIF), provider of leasing and financing solutions to operators and suppliers in the global aviation and railcar industries, and North American Commercial Finance (NACF)., which consists of four divisions: Commercial Services, Corporate Finance, Equipment Finance and Real Estate Finance. Commercial Services provides factoring, receivable management products, and secured financing to businesses. Corporate Finance provides a range of financing options and offers advisory services to small and medium size companies. Equipment Finance provides leasing and equipment loan solutions to small businesses and middle market companies. Real Estate Finance provides senior secured commercial real estate loans to developers and other commercial real estate professionals.

2016
01/21

Category:
Revenue

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Visitors deliver additional tax revenue to Platte County

COLUMBUS, Neb. (AP) – A new lodging tax has generated more than $100,000 for an eastern Nebraska county.

The 2 percent tax in Platte County went into effect on Jan. 1, 2015. Its collected from fees charged at hotels, motels and campgrounds throughout the county. Revenue goes into a visitor improvement fund used to enhance county attractions, according to the Columbus Telegram (http://bit.ly/1OA6Y4C ).

2016
01/21

Category:
Credit Cards

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Putting away the credit cards a good requirement for county

The Monroe County Commissioners took a sad but necessary action this week when it called in most of the credit cards issued to county employees to be kept more securely and checked out when needed.

History has shown it’s a prudent move to make the cards more difficult to use, and thus abuse. Unfortunately, a few county officials and employees who couldn’t be trusted with the cards required the move be made.

2016
01/20

Category:
Secured Financing

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Catalyst, LandPlan to develop new Legacy-area luxury apartment community

Dallas-Fort Worth-based developers Catalyst Urban Development and LandPlan Development have secured financing to kick off a new luxury apartment community adjacent to Legacy Business Park in West Plano.

The details of the financing were undisclosed. HFF secured the loan for the joint venture through a regional bank and equity through Canyon Partners Real Estate LLC.

2016
01/19

Category:
Secured Financing

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Premier Biomedical Announces $1.6mil Financing – Consolidates Funding Needs …

EL PASO, Texas–(BUSINESS WIRE)–Premier Biomedical, Inc. (OTCQB:
BIEI) a biotech research company focused on discovering,
developing, and commercializing medical treatments for a wide range of
diseases in humans, including innovative therapies for breast cancer,
announced today that they have consolidated and secured financing via a
convertible note with restricted shares per tranche to fund their
aggressive development plans through 2016, when revenues from world-wide
joint ventures are anticipated to meet their ongoing financial needs.
The financing arrangement allows Premier to remove old debt from its
books and consolidate financing with a single funding source, while
meeting its medium-term cash needs.

William A. Hartman, President and CEO of Premier stated, “We are pleased
to be able to get our financing needs for the coming year behind us via
non-toxic means so we can concentrate on moving the company forward,
growing our technology, and expanding our reach globally, facilitating
revenue generation and mid-term self-funding.”

Chardan Capital Markets acted as placement agent for this transaction.

Contact William Hartman at (724) 633-7033, PR@premierbiomedical.com.

About Premier Biomedical, Inc.

Premier
Biomedical, Inc. (OTCQB: BIEI)
is a research-based company that intends to discover and develop medical
treatments for a wide range of diseases in humans. Premier has obtained,
via license agreements, the technology behind multiple provisional
patents in the United States and a PCT Europe National Patent. Founded
in 2010, Premier has partnered with the Department of Defense with
Center of Expertise at the William Beaumont Army Medical Center. The
companys Ramp;D efforts are centered in El Paso, TX. The Company is a
fully-reporting issuer whose common stock trades on the OTCQB
marketplace maintained by OTC Markets Group, Inc. under the ticker
symbol BIEI.

For more information, visit our website http://www.premierbiomedical.com/

Safe Harbor Notice

Certain statements contained herein are “forward-looking statements” (as
defined in the Private Securities Litigation Reform Act of 1995).
Premier Biomedical, Inc. cautions that statements, and assumptions made
in this news release constitute forward-looking statements and makes no
guarantee of future performance. Forward-looking statements are based on
estimates and opinions of management at the time statements are made.
These statements may address issues that involve significant risks,
uncertainties, estimates made by management. Actual results could differ
materially from current projections or implied results. Premier
Biomedical, Inc. undertakes no obligation to revise these statements
following the date of this news release.