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Great American Group Hires Robert Callaway as Vice President, Head of Oil and Gas

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By Business Wirevia The Motley Fool

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Great American Group Hires Robert Callaway as Vice President, Head of Oil and Gas

DALLAS–(BUSINESS WIRE)– Great American Group, Inc. (OTCBB: GAMR) today announced the expansion of its oil and gas practice with the addition of Robert Callaway as Vice President, Head of Oil and Gas.

Callaway, an executive with more than 20 years of experience, will utilize his expertise in the oil and gas sector to support Great American Group‘s rapidly growing business. Callaway’s responsibilities will include business development and oversight of the oil and gas practice.

“There is an oil and gas revolution going on in the United States,” said Marc Musitano, COO of Great American Group‘s Machinery and Equipment Division. “With U.S. oil production up 40 percent since 2008, and the U.S. expecting to produce 7.3 million barrels per day this year, GA is increasing its presence to support that growth,” continued Musitano. “Robert’s wealth of industry knowledge and expertise will help us to better serve our customers while also positioning us as an industry leader in the sector.”

In addition to the hire of Mr. Callaway, Great American Group is further investing in its oil and gas practice by expanding its Dallas office, to house the rapidly growing team.

Prior to joining Great American Group, Mr. Callaway most recently served as Vice President of Waughtal Management, LLC, where he managed nine separate legal entities totaling $50 million in annual revenue. Prior to that, he was Vice President with Callaway Energy, LLC, where he cultivated existing and new business relationships to participate in drilling projects ranging in size from $1 to $30 million.

Callaway earned a Bachelor of Business Administration in Finance from the University of Texas at Austin and an MBA from Vanderbilt University.

From heavy machinery and equipment to retail inventory, industrial or intellectual property and real estate, Great American Group appraises billions of dollars in assets annually. For more information on the company’s services, contact (818) 884-3737 or visit http://www.greatamerican.com/appraisal.

About Great American Group, Inc. (OTCBB: GAMR)

Great American Group is a leading provider of asset disposition and auction solutions, advisory and valuation services, capital investment, and real estate advisory services for an extensive array of companies. A trusted strategic partner at every stage of the business lifecycle, Great American Group efficiently deploys resources with sector expertise to assist companies, lenders, capital providers, private equity investors …read more
Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

Great American Group Analysts Observe Cautious Spending Trends

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By Business Wirevia The Motley Fool

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Great American Group Analysts Observe Cautious Spending Trends

– Recent report shows initial spending cutbacks on the part of consumers have abated –

WOODLAND HILLS, Calif.–(BUSINESS WIRE)– According to analysts with Great American Group, Inc. (OTCBB: GAMR), consumer spending has rebounded following a positive, albeit slower than anticipated, holiday season. Post-holiday results in January were hampered by lower paychecks resulting from certain tax break expirations. However, the current outlook is cautiously optimistic.

Great American Group‘s latest Retail Monitor notes that consumers continue to feel the pressure of elevated gas prices and a high unemployment rate, and therefore have been cutting back on excesses by preparing more meals at home and searching for deals.

Regardless of the spending caution, there continues to be some bright spots in the retail sector.

“E-commerce continues to shine, and many off-price, discount and dollar store retailers continue to report positive results as consumers look to save,” said David Triompo, managing director of consumer products for Great American Group‘s Advisory and Valuation Services division. “Many dollar stores have also been expanding their store bases.”

Other retail sectors are more in flux. “The consumer electronics market continues to be altered by changing mobile phone technology and other factors; and the books, music and video sectors have been on the decline,” Triompo added.

Going forward, caution remains due to macroeconomic concerns. Although the economy remains fragile, industry analysts are hopeful that consumers will weather the storm and increase spending going forward.

Great American Group‘s premier Retail Monitor with industry trends is available on the company’s website at http://www.greatamerican.com/news_media/downloads/Mar_2013_Retail_Monitor.pdf.

For more information about asset disposition, valuation and advisory services available through Great American Group, visit www.greatamerican.com.

About Great American Group, Inc. (OTCBB: GAMR)

Great American Group is a leading provider of asset disposition and auction solutions, advisory and valuation services, capital investment, and real estate advisory services for an extensive array of companies. A trusted strategic partner at every stage of the business lifecycle, Great American Group efficiently deploys resources with sector expertise to assist companies, lenders, capital providers, private equity investors and professional service firms in maximizing the value of their assets. The company has in-depth experience within the retail, industrial, real estate, healthcare, energy and technology industries. The corporate headquarters is located in Woodland Hills, Calif. with …read more
Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

Great American Group Subsidiary Provides Funding for UK Footwear Chain

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By Business Wirevia The Motley Fool

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Great American Group Subsidiary Provides Funding for UK Footwear Chain

-GA Europe investment allows Shoon to take over 39 Jane Shilton outlets-

WOODLAND HILLS, Calif.–(BUSINESS WIRE)– GA Europe, a subsidiary of Great American Group, Inc. (OTCBB: GAMR), will further invest in the UK-based Shoon footwear chain in which it acquired an interest last year.

With funding provided by GA Europe, Shoon plans to take over 39 Jane Shilton outlets which operate in a range of department stores including Beales and Browns. Shoon will also acquire the associated Jane Shilton footwear stock upon completion, as well as the Jane Shilton footwear license. The arrangement is subject to the agreement of the individual host stores and will take effect beginning August 1st, once current notice periods have expired.

“We are very pleased to be making this investment in Jane Shilton‘s footwear brand,” stated Stephen Sanders, Managing Director of Shoon. “It has a clear market position supported by Jane Shilton‘s heritage in handbags and developed through its partnerships with independent department stores. With a similar customer profile to Shoon, we believe we have an excellent opportunity to develop both businesses. Also, with GA Europe’s support, we have been able to revive Shoon and this deal represents an exciting stage in our development.”

Shoon operates a chain of footwear stores, selling mainly women’s branded shoes in the market between high street multiple chains and upmarket boutiques and designer labels, appealing to customers who are fashion aware with a clear sense of their own style while looking for comfort and fit at a reasonable price. The Jane Shilton outlets will complement Shoon’s existing market position and provide opportunities for significant operational synergies and cost savings in sourcing.

“We are very excited to be making this additional investment in Shoon,” added Gavin George, Chief Executive of GA Europe. “This deal demonstrates our creative approach to backing and developing retail businesses where we can successfully apply our capital while leveraging our specialized restructuring skills and extensive retail networks.”

About Great American Group, Inc. (OTCBB: GAMR)

Great American Group is a leading provider of asset disposition and auction solutions, advisory and valuation services, capital investment, and real estate advisory services for an extensive array of companies. A trusted strategic partner at every stage of the business lifecycle, Great American Group efficiently deploys resources with sector expertise to assist companies, lenders, capital providers, private equity investors and …read more
Source: FULL ARTICLE at DailyFinance