Tag Archives: Managing Partner

Business, Finance, Occupation & Industry

Progress® Apama® CEP Reaches Even Greater Speeds

Leave a comment

By Business Wirevia The Motley Fool

Filed under:

Progress® Apama® CEP Reaches Even Greater Speeds

Latest Update Introduces Dynamic, Native Compilation to Deliver Massive Performance Boost

BEDFORD, Mass.–(BUSINESS WIRE)– Progress Software Corporation (NAS: PRGS) today announced the release of a new version of its leading Progress® Apama® CEP platform. The latest version introduces a new kernel that dynamically compiles application code written in Apama’s scripting language – EPL – to native machine code. The resulting boost in execution speed delivers significant benefits in scalability to much higher event rates and concurrent event queries.

The result of more than ten person years of research and development, the new version of Apama will be available to Apama customers as a no-cost upgrade. Application code, whether written directly in Apama EPL or generated from Event Modeler scenarios, will run unmodified, allowing customers to drop in the new version and gain immediate benefits with no additional work. The new version also retains Apama’s capability to hot-deploy application modules with zero downtime; application code is validated, compiled and deployed in parallel with on-going event processing.

In a series of benchmark tests ranging from calculation of complex analytics to full client application scenarios, validated through a beta program with existing Apama customers and partners, the latest version delivers scaling in sustainable event rates up to 2000% when compared to the current generally-available version of Apama. In one test – an incremental Black-Scholes options pricing benchmark – Apama was able to re-price a basket of options faster than equivalent JAVA and C++ code. Such results are made possible by optimizations that specifically target common EPL patterns to generate very tight machine code.

To learn more about Apama, please visit: http://www.progress.com/en/apama/

Supporting Quotes:

Dr. Richard Bentley, VP Capital Markets, Progress Software: “Having cut its teeth in the world of Algorithmic and High-Frequency trading, Apama has a well-deserved reputation for delivering high-performance, scalable CEP. With the latest release we just raised the bar even higher. Our customers will experience enormous and immediate benefits to their bottom line as a result of the innovation we are announcing today.”

Sang Lee, Managing Partner and Head of our Securities & Investments practice, said: “Apama has always had a reputation as a robust, high-performance CEP engine. With this new release Progress has affirmed its

From: http://www.dailyfinance.com/2013/04/17/progress-apama-cep-reaches-even-greater-speeds/

Business, Finance, Occupation & Industry

Audley Capital Provides Update on Walter Energy Director Nominee Robert Stan

Leave a comment

By Business Wirevia The Motley Fool

Filed under:

Audley Capital Provides Update on Walter Energy Director Nominee Robert Stan

Alberta Securities Commission Dismisses Allegations Against Mr. Stan

Criticizes Walter Energy for Continued Weak Attempts to Misrepresent Strong Credentials and Experience of its Director Nominees

NEW YORK–(BUSINESS WIRE)– Audley Capital Advisors LLP (including certain related funds and investment vehicles, “Audley Capital“) today announced that, as it expected, the Alberta Securities Commission (“ASC”) has now dismissed all allegations of insider trading against Robert H. Stan. The Alberta Securities Commission decision was issued April 10, 2013. Mr. Stan is one of Audley Capital‘s five nominees for election to the Board of Directors of Walter Energy, Inc. (NYS: WLT) (TSX: WLT) (“Walter Energy” or “the Company”) in connection with the Company’s upcoming 2013 Annual Meeting of Stockholders on April 25, 2013.

Julian Treger, Managing Partner of Audley Capital Advisors, said, “We are pleased, but not surprised, with the Alberta Securities Commission‘s announcement exonerating Robert from the allegations against him. We have always considered Robert an upstanding individual and held him in the highest regard. As we have consistently made clear, we believed the allegations against him were completely without merit and would be dismissed. We believe that Robert would serve as a strong addition to the Walter Energy Board as he brings over 30 years of experience in the western Canadian coal business and has knowledge of the geographic area of Walter Energy‘s Canadian mining activities. He, like all of our director nominees, will bring new ideas and strategic initiatives in their efforts to bolster investment returns.”

Mr. Treger continued, “We believe that Walter Energy‘s ongoing attempt to misrepresent and distort facts regarding our five director nominees, investments and strategic initiatives needs to come to an immediate end. The Board consistently attempted to vilify Robert based on the unfounded allegations against him. Over the past months, we believe that the Company has skewed realities, manipulated data to disguise underperformance, improperly portrayed the robust credentials of our director nominees and disparaged our proposed strategic initiatives. We believe this was the Board’s weak attempt to distract stockholders from the harsh reality of its ongoing underperformance. All of these tactics, in our view, speak directly to the Board’s lack of credibility. Needless to say, we believe it is imperative – for the future of the Company – that new Board members are elected to Walter

From: http://www.dailyfinance.com/2013/04/11/audley-capital-provides-update-on-walter-energy-di/

Business, Finance, Occupation & Industry

Bernardo Hees to be Appointed Chief Executive Officer of H.J. Heinz Company Following Completion of

Leave a comment

By Business Wirevia The Motley Fool

Filed under:

Bernardo Hees to be Appointed Chief Executive Officer of H.J. Heinz Company Following Completion of the Acquisition by 3G Capital and Berkshire Hathaway

PITTSBURGH–(BUSINESS WIRE)– 3G Capital and Berkshire Hathaway today announced that Bernardo Hees will become Chief Executive Officer of H.J. Heinz Company (NYS: HNZ) upon completion of the previously announced acquisition of Heinz by an investment consortium comprised of Berkshire Hathaway and 3G Capital.

Mr. Hees (43) has been Chief Executive Officer of Burger King Worldwide, Inc. (BKW) since September 10, 2010. Prior to joining BKW, Mr. Hees was Chief Executive Officer of America Latina Logistica (ALL), Latin America‘s largest railroad and logistics company.

Alex Behring, Managing Partner at 3G Capital said, “Bernardo is a proven executive with an unparalleled track record of delivering results. Over the past two and a half years at Burger King, Bernardo grew adjusted EBITDA by 44 percent from $454mm in 2010 to $652mm in 2012 and expanded the company’s adjusted EBITDA margin by 14% from 19% in 2010 to 33% in 2012. His combination of experience, leadership skills and broad understanding of the food industry make him the ideal leader to drive the next chapter in Heinz’s storied history. Bernardo will work closely with Heinz’s current Chairman, President and CEO, Bill Johnson, and the management team to ensure a smooth transition over the coming months.”

Commenting on his appointment, Mr. Hees said, “I am honored to be appointed the next CEO of Heinz, building upon the great success established during Mr. Johnson’s tenure. Heinz is one of the premier food companies in the world, led by the iconic Heinz Ketchup business. I look forward to joining the team and working in close partnership with the Company’s senior management, employees and customers to strengthen the business both domestically and internationally, while continuing to delight consumers with great tasting food products. On a personal level, my family and I are excited to be relocating to Pittsburgh and look forward to calling this great city home.”

Mr. Johnson will remain as Chairman, President and CEO of Heinz until the transaction is complete. 3G Capital and Berkshire Hathaway expect to discuss with Mr. Johnson his interest in a continuing role with the Company post closure following the shareholder meeting on April 30. Under Mr. Johnson’s leadership, Heinz has successfully reshaped its business to focus on the core brands, categories and geographies where it has leading market positions and the capabilities to drive consistent, profitable growth. Reflecting Mr. Johnson’s strong commitment to delivering sustainable growth for Heinz shareholders, Heinz has become one of the best-performing global companies in the packaged foods

From: http://www.dailyfinance.com/2013/04/11/bernardo-hees-to-be-appointed-chief-executive-offi/

Business, Finance, Occupation & Industry

Audley Capital Continues to Seek Positive Change at Walter Energy Through New Board Members and Stra

Leave a comment

By Business Wirevia The Motley Fool

Filed under:

Audley Capital Continues to Seek Positive Change at Walter Energy Through New Board Members and Strategic Initiatives

Continues to Believe Board’s Current Plan is Out of Touch with Market Realities

Openly Refutes Company’s Unfounded Assertions

NEW YORK–(BUSINESS WIRE)– Audley Capital Advisors LLP (including certain related funds and investment vehicles, “Audley Capital“) issued today the following letter to stockholders of Walter Energy, Inc. (NYS: WLT) (TSX: WLT) (“Walter Energy” or “the Company”) in connection with Audley Capital‘s five nominees for election to the Board of Directors at the Company’s upcoming 2013 Annual Meeting of Stockholders on April 25, 2013.

Julian Treger, Managing Partner of Audley Capital Advisors, said, “Stockholders have been presented with the opportunity to elect a slate of new highly-qualified director nominees to the Board of Walter Energy, who will strive for accountability and responsibility on behalf of the entire Board. We are undeterred in our effort to seek positive change at the Company, and believe that our director nominees will allow for fresh, dynamic ideas and initiatives that should reverse the current direction of the Company.”

Mr. Treger continued, “The Company continues to try to disparage Audley Capital and our proposed directors, including highlighting our stock ownership, when the ten members of the current Board own only a combined 0.19% of the outstanding shares. This suggests to us that they lack faith in their own ability to implement positive changes at the Company. Furthermore, we are committed to significantly increasing our ownership stake in Walter Energy, and to encourage other investors to do the same, if our director nominees are elected to the Board. This would help restore our confidence in the direction of the Company.”

Audley Capital urges Walter Energy‘s stockholders to vote the GOLD proxy card for Audley Capital‘s five highly-qualified and experienced director nominees.

The full text of the letter follows:

Stop The Value Destruction at Walter Energy:

Vote the GOLD Proxy Card to Elect Audley Capital‘s Experienced Nominees

Dear Fellow Walter Energy Stockholder,

Audley Capital Advisors LLP (including certain related funds and investment vehicles, “Audley Capital“) believes that April

Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

KKR Appoints New Chairman, New CEO for Japan

Leave a comment

By Business Wirevia The Motley Fool

Filed under:

KKR Appoints New Chairman, New CEO for Japan

Shusaku Minoda Elevated to Chairman, Hirofumi Hirano Joins as CEO

TOKYO & NEW YORK & HONG KONG–(BUSINESS WIRE)– Kohlberg Kravis Roberts & Co. L.P. (together with its affiliates, “KKR“) today announced the elevation of Shusaku Minoda to Chairman of KKR Japan from his position as Managing Director & Chief Executive Officer. Mr. Hirofumi Hirano has been hired as the new Managing Director & Chief Executive Officer of KKR Japan. Mr. Hirano joins KKR from AlixPartners Asia LLC where he was Managing Director and Head of Asia Financial Service Industry Practice. Both appointments are effective April 15, 2013.

Henry R. Kravis, Co-Founder, Co-Chairman and Co-CEO of KKR, said: “Shu Minoda has led our business as CEO of KKR Japan for six years and has built an excellent platform for future growth. As Chairman, we look forward to his continued leadership in maintaining trusted relationships with our business partners and key stakeholders as well as in our government relations.”

“The appointment of Hiro Hirano as MD and CEO of KKR Japan is an important step forward as KKR continues to grow our private equity franchise and broaden our focus to other areas of asset management and capital markets,” said Joseph Y. Bae, Managing Partner of KKR Asia.

“Hiro has a unique combination of private equity investing and operational consulting with a 30-year track record of helping Japanese companies revitalize their businesses and expand globally to achieve their full potential,” added Mr. Bae. “He will lead our team on a day-to-day basis at KKR Japan as we build on the firm foundation that KKR has created in Japan.”

Prior to joining AlixPartners, a turnaround specialist consulting firm, Mr. Hirano was CEO of the merchant-banking group of Nikko Cordial Group (now known as SMBC Nikko Securities) and also chairman of Nikko Principal Investments. During his career, he also served as a director of numerous companies, including Nikko Citigroup and Nikko Asset Management.

At AlixPartners, he led the team that advised on the turn-around efforts of Japan Airlines, as well as Sumitomo Trust‘s acquisition of Nikko Asset Management from Citigroup, and the subsequent acquisition by Nikko Asset Management of DBS’s Singapore asset management subsidiary. Mr. Hirano graduated from Keio University and holds an MBA from the University of Chicago.

About KKR
…read more

Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

Rosetta Stone Inc. Announces Changes to Board of Directors

Leave a comment

By Business Wirevia The Motley Fool

Filed under:

Rosetta Stone Inc. Announces Changes to Board of Directors

Board to Consist of Eight Directors Following 2013 Annual Meeting of Stockholders

ARLINGTON, Va.–(BUSINESS WIRE)– Rosetta Stone Inc. (NYS: RST) , a leading provider of technology-based language-learning solutions, today announced that Theodore J. Leonsis will resign effective at the Rosetta Stone 2013 annual meeting of stockholders, and Tom P.H. Adams and John E. Lindahl will not seek re-election to the Rosetta Stone board of directors at the company’s 2013 annual meeting of stockholders.

A member of Rosetta Stone‘s Board since December 2009, Mr. Leonsis was instrumental in helping to bring Rosetta Stone President and CEO Stephen M. Swad to the company and has been an important advisor as Rosetta Stone transitions to a more online and cloud-based model. Mr. Leonsis is leaving the Board to focus on his other businesses interests and investments, including Monumental Sports and Entertainment which owns the NBA’s Washington Wizards, NHL’s Washington Capitals, the WNBA’s Washington Mystics, and the Verizon Center; Revolution Growth, a speed up capital fund; SnagFilms, a company that offers independent movies on demand; and Groupon Inc. (NAS: GRPN) , where he serves as interim co-CEO.

Currently serving as the non-executive Chairman of the Board, Mr. Adams has been a member of the Rosetta Stone Board since January 2006. He served as the company’s President and CEO from February 2003 until February 2012, when he assumed the role of non-executive Chairman. During Mr. Adams’s tenure as CEO, Rosetta Stone grew from a small, technology start-up into a global brand that has changed the way the world learns languages. He was recently named to the Management Committee of Bridgewater Associates, an investment company that manages approximately $120 billion in global investments, and is not seeking re-election to the Board due to his responsibilities at Bridgewater.

A Director since February 2006, Mr. Lindahl is Managing Partner of Norwest Equity Partners, where he led Norwest’s investment in Rosetta Stone in 2006. He will continue to oversee Norwest’s investments in Rosetta Stone and its other portfolio companies.

Commenting on the departures, Mr. Swad, President and CEO of Rosetta Stone, said, “All three of our departing Board members have made significant contributions to the development and evolution of Rosetta Stone and we are grateful for their services, advice and guidance over the years. Tom was obviously instrumental in taking a small language technology start-up …read more

Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

Black Box Corporation Directors Elect Two New Members to Board

Leave a comment

By Business Wirevia The Motley Fool

Filed under:

Black Box Corporation Directors Elect Two New Members to Board

PITTSBURGH–(BUSINESS WIRE)– Black Box Corporation (NAS: BBOX) , a leading communications system integrator, announced today that its Board of Directors has elected Mr. John Heller and Mr. Joel Trammell to the Board. Both Messrs. Heller and Trammell’s terms will expire at the next annual meeting of stockholders. At that time, it is expected that they will stand for election by the stockholders.

Mr. Heller retired from Caterpillar Inc. in February 2012. He held a number of positions of increasing responsibility at Caterpillar during a 38-year career, last serving as Vice President and Chief Information Officer for more than the last 5 years. He is a graduate of Millikin University with a Bachelor of Science degree in Business Administration and holds an M.B.A. from the University of Illinois.

Mr. Trammell is a Managing Partner of Lone Rock Technology Group since 2011. Mr. Trammell was a founder and the CEO of CacheIQ, Inc. from June 2010 until it was acquired by NetApp, Inc. in November 2012. Previously, he was a founder and served as the CEO of NetQoS, Inc. from June 2000 to November 2009. Mr. Trammell is a graduate of Louisiana Tech University with a Bachelor of Science degree in Electrical Engineering.

“I am very pleased to have John and Joel join our Board of Directors,” said Mr. Thomas G. Greig, Chairman of Black Box Corporation’s Board of Directors. “Both bring deep expertise in many areas including enterprise technology, management and strategic planning. Their perspectives will help to drive shareholder value as Black Box continues to grow and adapt to our rapidly changing business environment. I join my fellow directors in welcoming them to the Board.”

About Black Box

Black Box is a leading communications system integrator dedicated to designing, sourcing, implementing and maintaining today’s complex communications solutions. Black Box services more than 175,000 clients in approximately 150 countries with approximately 200 offices throughout the world. To learn more, visit the Black Box Web site at http://www.blackbox.com.

Black Box® and the Double Diamond logo are registered trademarks of BB Technologies, Inc. Any third-party trademarks appearing in this press release are acknowledged to be the property of their respective owners.

Black Box Corporation
Gary …read more
Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

Heritage Global Partners Appoints Auction Industry Veterans Tom Laster and Nicholas Jimenez to Execu

Leave a comment

By Business Wirevia The Motley Fool

Filed under:

Heritage Global Partners Appoints Auction Industry Veterans Tom Laster and Nicholas Jimenez to Executive Vice President

SAN DIEGO–(BUSINESS WIRE)– Heritage Global Partners (“HGP“), a global leader in asset advisory and auction services and a wholly owned subsidiary of Counsel RB Capital (OTCQB:CRBN), announced today that Tom Laster and Nick Jimenez have been named Executive Vice President. Both appointments are effective immediately. Messrs. Laster and Jimenez will develop and manage Fortune 500 global accounts, providing client asset management and execution of HGP‘s wide array of revenue generation initiatives.

Mr. Laster has over two decades of relevant asset advisory and auction services experience with a specialized focus on OEM, Channel and Enterprise businesses. Prior to joining Heritage, he served for 10 years as VP of Sales at GoIndustry-DoveBid. During his tenure there, Mr. Laster was consistently a top sales performer, providing significant brand leverage in key vertical markets for his many clients.

Mr. Jimenez brings over 15 years of expertise assisting corporate clients in maximizing the value of their surplus capital equipment. He spent more than 12 years with GoIndustry-DoveBid, developing and implementing a variety of successful asset disposition programs on behalf of his clients. Mr. Jimenez had been employed by GE Capital in numerous leadership roles, the last being Key Accounts Manager.

Commenting on the new appointments, Kirk Dove, Managing Partner of Heritage Global Partners stated, “Tom and Nick are tremendous additions to the growing Heritage Global team given their extremely impressive industry backgrounds. They each generated in excess of $100 million in sales at their previous employer and they come to us with long-term, proven track records for delivering excellent customer service to large corporate organizations while producing consistent, revenue-generating financial results. We are confident that their depth of industry expertise, strong client-centered focus and innovative approaches to critical functions including contract negotiation will prove to be important attributes to their future success here at Heritage.”

Led by auction industry pioneers Ross and Kirk Dove, Heritage Global Partners is one of the leading worldwide asset advisory and auction services firms, assisting companies with buying and selling assets. HGP specializes in asset brokerage, inspection, and valuations, industrial equipment and real estate auctions, and much more.

Heritage Global Partners
Kirk Dove, 650-207-0627
kdove@hgpauction.com
or
JCIR
Robert Rinderman or Jennifer Neuman, 212-835-8500
CRBN@jcir.com

KEYWORDS:   United States  North America  California

INDUSTRY KEYWORDS:

The article Heritage …read more
Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

Audley Capital Issues Letter to Walter Energy Stockholders

Leave a comment

By Business Wirevia The Motley Fool

Filed under:

Audley Capital Issues Letter to Walter Energy Stockholders

Responds to Walter Energy’s Misleading and Flawed Accusations

Urges Stockholders to Sign, Date and Mail the GOLD Proxy Card Today

NEW YORK–(BUSINESS WIRE)– Audley Capital Advisors LLP (including certain related funds and investment vehicles, “Audley Capital“) issued today the following letter to stockholders of Walter Energy, Inc. (NYS: WLT) (TSX: WLT) (“Walter Energy” or “the Company”) in connection with Audley Capital‘s five nominees for election to the Board of Directors at the Company’s upcoming 2013 Annual Meeting of Stockholders on April 25, 2013.

Audley Capital urges Walter Energy‘s stockholders to vote the GOLD proxy card for Audley Capital‘s five highly-qualified and experienced director nominees.

Julian Treger, Managing Partner of Audley Capital Advisors, said, “We are disappointed with Walter Energy‘s blatant attempts to cast a shadow on the strong credentials of our five highly-qualified and experienced director nominees. We believe that this is the Company’s attempt to divert attention from its continued underperformance and distract stockholders from the value that these accomplished professionals will bring to the Board. We continue to believe that our director nominees can work to implement the changes necessary to correct the financial and operational missteps of the current Board.”

The full text of the letter follows:

CHANGE IS LONG OVERDUE AT WALTER ENERGY

Dear Fellow Walter Energy Stockholder,

On March 25, 2013, Walter Energy issued a letter to its stockholders raising purported concerns about the slate of director nominees put forward by Audley Capital Advisors LLP (including certain related funds and investment vehicles, “Audley Capital“) for election to Walter Energy‘s Board of Directors at its Annual Meeting of Stockholders on April 25, 2013. Needless to say, we were very disappointed by the current Board’s attempt to mislead Walter Energy stockholders. The present directors have presided over aloss of more than $6 billion in stockholder value since 2011 and, in our view, have shown no accountability or contrition. Perhaps they simply fail to grasp the financial and operational initiatives that we think are needed to create lasting value at the Company. We wonder whether they may be reduced to making misleading personal …read more
Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

MSCI Launches New Version of Barra Portfolio Manager

Leave a comment

By Business Wirevia The Motley Fool

Filed under:

MSCI Launches New Version of Barra Portfolio Manager

Platform demonstrates innovation in portfolio management

NEW YORK–(BUSINESS WIRE)– MSCI Inc. (NYS: MSCI) , a leading provider of investment decision support tools worldwide, announced today the launch of the latest version of Barra Portfolio Manager. The upgraded portfolio management software features advanced workflow tools designed to help portfolio managers improve their investment processes and goals.

One of the critical advancements in this version is historical strategy simulation. Analytics and portfolio managers can now use Barra Portfolio Manager to test various investment strategies simultaneously and monitor statistics even while optimizations are being actively processed. This provides users with immediate insight into a strategy’s risk and return profile, allowing for real-time adjustments.

“These enhancements are the latest in our continued efforts to provide a comprehensive platform that allows clients to design, develop and implement investment strategies,” said Peter Zangari, Managing Director and Head of Equity Portfolio Management Analytics at MSCI. “Using Barra Portfolio Manager, clients can now customize their portfolios to adapt to a change in their investment outlook or a shift in market trends.”

Bill Yost, Managing Partner and Director of Portfolio Management and Trading at Quotient Investors, said, “Barra Portfolio Manager risk models and optimization tools give us the ability to build highly customized portfolios that help us innovate, make more informed investment decisions and compete successfully in our industry. It helps us better understand both strengths and weaknesses in our investment process and communicate with clients more effectively. Understanding why we outperform or underperform is critical information for our clients and for us.”

“Our clients tell us about the challenges they are facing every day, and their feedback is the driving force behind these enhancements,” said Mr. Zangari. “Our long and extensive relationship with our clients has been refined over many years and provides us with a large wealth of client feedback. Our client support teams and consultants have an in-depth understanding of client needs, and we continue to incorporate those needs into the products we bring to market.”

To learn more about Barra Portfolio Manager, please visit www.msci.com.

About MSCI

MSCI Inc. is a leading provider of investment decision support tools to investors globally, including asset managers, banks, hedge funds and pension funds. MSCI products and services include indices, portfolio risk and performance analytics, …read more
Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

Ares Commercial Real Estate Corporation Announces the Assumption of its Existing $47 Million Loan Co

Leave a comment

By Business Wirevia The Motley Fool

Filed under:

Ares Commercial Real Estate Corporation Announces the Assumption of its Existing $47 Million Loan Commitment in Sale of Miami Office Property


Transaction Facilitates the Purchase of Office Building by New Sponsor Group

CHICAGO–(BUSINESS WIRE)– Ares Commercial Real Estate Corporation (NYS: ACRE) announced today that it has entered into a transaction with a new sponsor group to facilitate the purchase of a Class B office building in Downtown Miami’s Brickell neighborhood that was collateralized by ACRE‘s existing $47 million first mortgage loan. The new sponsor group is comprised of a venture between Banyan Street Capital and Crocker Partners, an existing ACRE client. The interest rate on Ares Commercial Real Estate Corporation‘s existing loan will remain unchanged.

“We modified our existing loan commitment and worked with the new sponsor group to finance the successful purchase of the property,” commented Bruce Cohen, President of Ares Commercial Real Estate Corporation. “We are pleased to maintain an attractive and strongly performing asset, and we look forward to working with the highly experienced sponsors from Banyan Street Capital and Crocker Partners.”

“We have known the relationship team at ACRE for some time, and have been impressed with the flexibility that they provide to value-added sponsors like us,” said Rudy Touzet, Managing Partner of Banyan Street Capital. “We look forward to working with ACRE on other transactions in the future.”

“We have worked with the ACRE team on several transactions, and we continue to appreciate their knowledge, flexibility and client-focused execution,” said Tom Crocker, Managing Partner of Crocker Partners.

With this transaction, Ares Commercial Real Estate Corporation‘s loan portfolio totaled approximately $361.2 million in outstanding principal as of March 19, 2013.

About Ares Commercial Real Estate Corporation

Ares Commercial Real Estate Corporation is a specialty finance company that originates, invests in and manages middle-market commercial real estate loans and other commercial real estate investments. Through its national direct origination platform, Ares Commercial Real Estate Corporation provides flexible financing solutions for middle market borrowers. Ares Commercial Real Estate Corporation intends to elect to be taxed as a real estate investment trust and is externally managed by an affiliate of Ares Management LLC, a global alternative asset …read more
Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

Investor Alert: Former Attorney General of Louisiana and Kahn Swick & Foti, LLC Investigate Harvest

Leave a comment

By Business Wirevia The Motley Fool

Filed under:

Investor Alert: Former Attorney General of Louisiana and Kahn Swick & Foti, LLC Investigate Harvest Natural Resources, Inc. Following Announcement of Material Weakness in Financial Controls and Warning of Possible Restatement

NEW ORLEANS–(BUSINESS WIRE)– Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC announce that KSF has commenced an investigation into Harvest Natural Resources, Inc. (NYS: HNR) .

Shares of Harvest Natural Resources declined over 33%, after the company reported a “material weakness” in accounting that will require revision and possible restatement of results for 2010, 2011, and 2012. Harvest also reported that it will delay filing its 2012 annual report.

KSF‘s investigation is focusing on whether Harvest Natural Resources and/or its officers and directors violated state or federal securities laws.

If you have information that would assist KSF in its investigation, or would like to discuss your legal rights, you may, without obligation or cost to you, e-mail or call KSF Managing Partner, Lewis Kahn (lewis.kahn@ksfcounsel.com), toll free, 877-515-1850, or via cell phone any time at 504-301-7900.

About Kahn Swick & Foti, LLC

KSF, whose partners include the Former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities class action and shareholder derivative litigation with offices in New York and Louisiana. KSF‘s lawyers have significant experience litigating complex securities class actions nationwide on behalf of both institutional and individual shareholders.

To learn more about KSF, you may visit www.ksfcounsel.com.

Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner, 877-515-1850
or after hours via cell phone 504-301-7900
lewis.kahn@ksfcounsel.com

KEYWORDS:   United States  North America  Louisiana

INDUSTRY KEYWORDS:

The article Investor Alert: Former Attorney General of Louisiana and Kahn Swick & Foti, LLC Investigate Harvest Natural Resources, Inc. Following Announcement of Material Weakness in Financial Controls and Warning of Possible Restatement originally appeared on Fool.com.

Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 – 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

…read more
Source: FULL ARTICLE at DailyFinance

News, Politics, Government

EA CEO Steps Down, Citing Financial Results. But Is SimCity the Real Issue?

Leave a comment

By Carol Pinchefsky, Contributor

Back in 2012, Electronic Arts was named the worst company in America, and the recent less-than-smooth release of SimCity did little to bolster its image. The ramifications may have been farther-reaching than just bad PR. It may have been the instigator for today’s news: John Riccitiello, the CEO of EA, has stepped down today. Riccitiello has claimed that he’s leaving because of poor earnings: My decision to leave EA is really all about my accountability for the shortcomings in our financial results this year. It currently looks like we will come in at the low end of, or slightly below, the financial guidance we issued to the Street, and we have fallen short of the internal operating plan we set one year ago. And for that, I am 100 percent accountable. However, it’s hard not to draw conclusions that his leaving is related to SimCity’s always-online DRM, which has lit up the Internet with fan ire. As we know, the reboot of the popular simulation game required players to log into servers before swearing in as mayor of their town. But with overcrowded serve queues, players had to wait before creating their urban sprawl (or their tidy urban order). Then, when they could play, some gamers were subject to disconnects, causing them to lose game progress. All of their hard work (or is it “hard play?”) was down the drain. The fact that the game has never before required an always-online component is as abrasive to SimCity fans as, well, Mass Effect 3’s ending. The poor launch was further exacerbated by EA’s response: that the game had been written with an always-online mode in mind, and that the game could not be played offline without “a significant amount of engineering work.” Meanwhile, Kotaku played SimCity offline for 19 minutes, thus making EA’s statement look as if they outright lied. Riccitiello’s will leave the company “in a few weeks” and has not stated his plans for the future. But what about plans for SimCity? Does this mean that EA will reverse its policy—because if the game can actually be played offline, the always-online component is indeed a policy—about requiring an Internet connection to enter your own SimCity? We can only hope. Coincidentally, EA is currently a contestant on Consumer’s poll for “worst company in America” for 2013.  One person who is likely to vote for EA? The customer that EA had threatened to ban for asking for a refund. Voting begins on March 19th. However, EA was also named the best place to work for LGBT equality in 2013. Riccitiello had been CEO and director of EA since 2007. He also had served as EA’s president and COO from 1997 to 2004. According to his Forbes profile, “Prior to re-joining EA, he was a co-founder and Managing Partner at Elevation Partners, a private equity fund.” You can follow me on Twitter, Facebook, Google+, and here at Forbes. …read more
Source: FULL ARTICLE at Forbes Latest

Business, Finance, Occupation & Industry

Amarantus BioScience Appoints Mark Benedyk, Ph.D., to Board of Directors

Leave a comment

By Business Wirevia The Motley Fool

Filed under:

Amarantus BioScience Appoints Mark Benedyk, Ph.D., to Board of Directors

SUNNYVALE, Calif.–(BUSINESS WIRE)– Amarantus BioScience, Inc. (OTCQB: AMBS), a biotechnology company discovering and developing treatments and diagnostics for diseases associated with neurodegeneration and apoptosis centered around its patented therapeutic protein Mesencephalic Astrocyte Neurotrophic Factor (MANF), has appointed Mark Benedyk, Ph.D., to its Board of Directors. Dr. Benedyk has over 18 years of experience as a senior business development executive and consultant to life science companies, and has served as a Corporate Advisor to Amarantus since 2011. With the addition of Dr. Benedyk, the Amarantus board has four members, two of whom are considered independent directors, including Dr. Benedyk.

“I am excited to join the Amarantus board at such an important stage of the Company’s scientific and business development growth,” said Dr. Benedyk. “I look forward to helping the Company as it advances MANF towards the clinic for Parkinson’s disease, and executes a commercial strategy for its promising clinical diagnostic tests for Parkinson’s and Alzheimer’s disease.”

Gerald E. Commissiong, President and Chief Executive Officer of Amarantus BioScience, stated “Mark Benedyk has played a significant role in the growth and success of several leading healthcare companies. With his knowledge and understanding of clinical development and regulatory affairs, as well as the financial and operating requirements of a development-stage company, Mark will be an important resource for all aspects of managing our progress and creating value for shareholders.”

Dr. Benedyk is currently a Managing Partner at Rila Partners LLC, a business and corporate development consultancy. In this role he serves on the Strategic Advisory Board of KemPharm, Inc., is a Director at the Center for Drug Research and Development Ventures, Inc., and is a member of the Translational Medicine Advisory Board of the CNS Regenerative Medicine Foundation. Previously he was head of The Pfizer Incubator (TPI) where his duties included membership on the TPI Board of Directors, board positions with TPI portfolio companies, oversight of the TPI operations team, and reviewing investment opportunities in multiple technologies.

Dr. Benedyk has held executive business development roles at Ascenta Therapeutics, Optimer Pharmaceuticals, Aurora Biosciences (acquired by Vertex Pharmaceuticals), and Elan Pharmaceuticals, where he led partnering efforts for several key clinical-stage products for the treatment of Alzheimer’s Disease, migraine and other neurological indications. He received his Ph.D. in Developmental and Molecular Genetics from The Rockefeller University, and Bachelor of Science degree in Microbiology and Botany from the University of Michigan.

About Amarantus BioScience

…read more
Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

PROS Announces Speaker Lineup for Outperform 2013, the Big Data Event for Sales & Pricing

Leave a comment

By Business Wirevia The Motley Fool

Filed under:

PROS Announces Speaker Lineup for Outperform 2013, the Big Data Event for Sales & Pricing

New York Stock Exchange Draws Customers, Industry Thought Leaders as the Venue for Outperformers

HOUSTON–(BUSINESS WIRE)– PROS® (NYS: PRO) , a big data software company, today announced that a host of industry thought leaders will deliver addresses at its Outperform 2013 Conference. The annual event, sponsored by Microsoft, Deloitte and the Professional Pricing Society, will be held April 3-4 at the world-renowned New York Stock Exchange. The conference brings together a select group of pricing, sales and marketing executives from business-to-business companies that recognize the advantages of leveraging big data to drive sales growth.

In addition to industry visionary and thought leader Tom Davenport, who will keynote at Outperform 2013, PROS customers and industry thought leaders who are experts in pricing and sales effectiveness will share the stage. They will deliver comments that address compelling topics at the top of today’s business agenda:

  • Edmond Brown, Director of Pricing, American Standard Brands: Why Sales Needs a Pricing Solution
  • Neil Biehn, Ph.D., PROS Vice President, Science: The New “V” in Big Data: How Viability is Driving Better Outcomes
  • Tom Davenport: Keeping Up with the Quants. Smarter Decisions, Better Results. Davenport is a highly regarded big data and analytics thought leader and one of the 100 most influential people in the IT industry.
  • Jim Dickie, Managing Partner, CSO Insights: Sales Management in a 2.0 World
  • Chris Fletcher, Research Director, Enterprise Applications, Gartner, Inc.: Pricing Effectiveness Through Big Data
  • Scott Green, Global Pricing Lead for Panduit: Pricing is Bigger Than Any One Organization
  • Chris Jones, PROS Chief Sales Officer: How Big Data Gives Your Sales Team a Competitive Advantage
  • Stephan Liozu, Ph.D., Founder of Value Innoruption Advisors: How to Get Your CEO to Care About Pricing

    • …read more
    Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

Whitestone Appoints Paul T. Lambert to Board of Trustees and Corrects Dividend Record Date

Leave a comment

By Business Wirevia The Motley Fool

Filed under:

Whitestone Appoints Paul T. Lambert to Board of Trustees and Corrects Dividend Record Date

HOUSTON–(BUSINESS WIRE)– Whitestone REIT (NYSE: WSR) (“Whitestone” or the “Company”), a real estate investment trust that acquires, owns and operates Community Centered PropertiesTM, announced today that Paul T. Lambert was appointed to its Board of Trustees on March 15, effective immediately.

An entrepreneur with over three decades of real estate investment experience, Mr. Lambert has significant experience in commercial real estate and financing of development projects. He currently serves as President of Lambert Capital Corporation, a private firm established in 2005. He recently completed the highly successful $275 million Wailea Beach Villas condominium project on Maui.

“I am pleased that Paul is joining Whitestone’s Board as an independent trustee, and am confident that he will bring an added level of experience and insight to Whitestone,” said James C. Mastandrea, Chairman and Chief Executive Officer of Whitestone REIT.

“I am excited about the Company’s unique business model and differentiating strategy of Creating Communities in their Properties, which hinges on unanchored, smaller retail properties with entrepreneurial, service-oriented small space tenants,” said Mr. Lambert. “I’m looking forward to joining the Company at an opportune time as Whitestone’s board and management team widens its focus to seek added value by developing land it already owns to expand capacity and add new tenants, rebrand and reposition legacy properties, and introduce new operating technology and enhanced services that strengthen tenant relationships, rental rates and revenues.”

Mr. Lambert began his real estate and investing experience in 1980 as a developer with Dillingham Land in Hawaii, where he developed a range of successful commercial projects. For 12 years after Dillingham, he was a Principal and Managing Partner of The Shidler Group, a nationally focused private real estate investment firm, where he owned and managed a 3 million square foot diverse portfolio of commercial properties in six states. Additionally, he was a Founder, Director and Manager of First Industrial Realty Trust, a publicly traded REIT (NYS: FR) and one of the largest owners of diversified industrial real estate in the nation. Mr. Lambert also served as the Chief Operating Officer of First Industrial from its initial public offering in 1994 to the end of 1995. He has been a Trustee since 1998 of Paragon Real Estate Equity and Investment Trust, traded on the former American Stock Exchange until 2006. Mr. Lambert holds a BA from Occidental College and an MBA from the Stanford Graduate School of Business.

Mastandrea concluded by …read more
Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

INVESTOR ALERT: Former Attorney General of Louisiana and Kahn Swick & Foti, LLC Investigate Great La

Leave a comment

By Business Wirevia The Motley Fool

Filed under:

INVESTOR ALERT: Former Attorney General of Louisiana and Kahn Swick & Foti, LLC Investigate Great Lakes Dredge & Dock Corp. Following Restatement of Financial Results and Resignation of COO

NEW ORLEANS–(BUSINESS WIRE)– Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC announce that KSF has commenced an investigation into Great Lakes Dredge & Dock Corp. (NAS: GLDD) .

KSF‘s investigation is focusing on whether Great Lakes Dredge & Dock and/or its officers and directors violated state or federal securities laws. This investigation also includes the facts and circumstances related to the Company’s restatement of financial results, the resignation of the company’s Chief Operating Officer and President Bruce J. Biemeck, and a subsequent decline in the value of GLLD shares.

If you have information that would assist KSF in its investigation, or would like to discuss your legal rights, you may, without obligation or cost to you, e-mail or call KSF Managing Partner, Lewis Kahn (lewis.kahn@ksfcounsel.com), toll free, 877-515-1850, or via cell phone any time at 504-301-7900.

About Kahn Swick & Foti, LLC

KSF, whose partners include the Former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities class action and shareholder derivative litigation with offices in New York and Louisiana. KSF‘s lawyers have significant experience litigating complex securities class actions nationwide on behalf of both institutional and individual shareholders.

To learn more about KSF, you may visit www.ksfcounsel.com.

Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner, 877-515-1850
or after hours via cell phone 504-301-7900
lewis.kahn@ksfcounsel.com

KEYWORDS:   United States  North America  Louisiana

INDUSTRY KEYWORDS:

The article INVESTOR ALERT: Former Attorney General of Louisiana and Kahn Swick & Foti, LLC Investigate Great Lakes Dredge & Dock Corp. Following Restatement of Financial Results and Resignation of COO originally appeared on Fool.com.

Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 – 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure …read more
Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

CTPartners Appoints Marc Gasperino as Digital Practice Leader

Leave a comment

By Business Wirevia The Motley Fool

Filed under:

CTPartners Appoints Marc Gasperino as Digital Practice Leader

CTPartners completes 200 global digital executive search assignments in three years

NEW YORK–(BUSINESS WIRE)– CTPartners (NYSE MKT: CTP), a leading global retained executive search firm, announced today the appointment of Marc Gasperino as Managing Partner and Head of its Global Digital Practice. Gasperino is also a member of the firm’s Technology, Media & Telecommunications practice.

CTPartners has completed over 200 digital assignments in the past three years for some of the largest global corporations in retail, banking and consumer products, media and technology. Some of the executive roles filled by CTPartners include:

  • President/Digital for a major global broadcasting company
  • CEO/E-commerce in China for a Top 3 global digital firm
  • CEO/E-Commerce for a leading global automotive manufacturer
  • General Manager/E-commerce in Europe for a Fortune 50 technology leader
  • Chief Digital Officer in Europe for a Top 5 global bank.

Brian Sullivan, Chief Executive Officer of CTPartners, said, “As one of the first search firms to enter the digital space, we have successfully executed some of the industry’s most transformational digital assignments, helping to make digital leadership a strategic differentiator for many of our clients across the globe. With Marc’s appointment, we are happy to announce our continued global support of this core practice.”

About CTPartners

CTPartners is a leading performance-driven executive search firm serving clients across the globe. Committed to a philosophy of partnering with its clients, CTPartners offers a proven record in C-Suite, senior executive, and board searches, as well as expertise serving private equity and venture capital firms.

With origins dating back to 1980, CTPartners serves clients with a global organization of more than 400 professionals and employees, offering expertise in board advisory services and executive recruiting services in the financial services, life sciences, industrial, professional services, retail and consumer, and technology, media and telecom industries. Headquartered in New York, CTPartners has 22 offices in 14 countries.

www.ctnet.com
…read more
Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

KKR Strengthens Japan Team with Two New Directors

Leave a comment

By Business Wirevia The Motley Fool

Filed under:

KKR Strengthens Japan Team with Two New Directors

Hiro Shimizu joins KKR Capital Markets

Sakae Suzuki joins KKR Capstone

TOKYO & HONG KONG–(BUSINESS WIRE)– Kohlberg Kravis Roberts & Co. L.P. (together with its affiliates, “KKR“) today announced the appointment of Hiro Shimizu and Sakae Suzuki as Directors for KKR Japan. Mr. Shimizu joined KKR Capital Markets from Goldman Sachs Japan, where he most recently served as Managing Director and Head of the Financial Institutions Group within the Financing Group. Mr. Suzuki joins KKR Capstone from McKinsey & Company, where he most recently served as a Principal with particular expertise in telecom, media & technology, and operations.

In their new roles, Mr. Shimizu and Mr. Suzuki will work alongside KKR‘s team in Tokyo led by Shusaku Minoda, Managing Director & Chief Executive Officer of KKR Japan. This increases KKR Japan‘s team to 12 people based in Tokyo.

“The addition of directors for both KKR Capital Markets and KKR Capstone in Tokyo evidences KKR‘s optimism for and commitment to the Japan market,” said Joseph Y. Bae, Managing Partner of KKR Asia. “Hiro and Sakae will increase KKR‘s ability to bring value-add to Japanese companies as they increase their global competitiveness.”

“We are pleased to welcome world-class talent like Hiro and Sakae to the KKR Japan team,” said Shusaku Minoda. “Hiro will use his extensive experience to expand the presence of KKR Capital Markets in Japan, while supporting and expanding our large and growing base of Japanese investors. As a member of the global KKR Capstone team, Sakae will apply his skills in operational improvement across a wide range of industries to support the growth of KKR investments in Japan and worldwide.”

Mr. Shimizu spent 14 years at Goldman Sachs, where he held various positions during his tenure, including Head of Credit and Alternative Sales within FICC as well as Head of Distribution for Japan within the Special Situations Group. He has extensive experience in marketing alternative products across a broad spectrum of credit, equity and real estate products, which he marketed to institutional clients. Mr. Shimizu holds a BA in Economics from Vassar College.

Mr. Suzuki began his career at McKinsey & Company, where he worked for three years before moving to Gateway Japan, where he served as Senior Manager Business Planning and Online Sales. He then joined Global Freight Exchange (GF-X), where …read more
Source: FULL ARTICLE at DailyFinance