gavrilovaefivu.blogspot.com
“This recession today has about twice the lengthh of any other one I can rememberand it’s too,” Fairbanks said in an interview with the Phoenidx Business Journal following his announcement he will after serving as city manager for 19 years. He’w been a Phoenix city employe for37 years. His last day will be Nov. 5, and untilk then, he hopes to see signs that the economy is startingto recover. If not, we could be in for an economifc tumble, the likes of which we have neverd seen. Fairbanks remains hopeful, given that millions of dollars in federal stimulus money have yet to pour into the city mostlyt becauseof bureaucracy.
“It’s kind of bottled up on Fairbanks said. “We’re just waiting to get approvalw to contractwith businesses.” Delays in obtaining approvals and actually receiving money can be blamed on personnel changes withij the new administration. Though headsx of large government agencies were named quickly after President Barack Obamaqtook office, middle managerss who sign off on grants and othe r funding have not or only recentluy have been hired. “When we get that money, it will put people to work. It’s going to Fairbanks said.
“We’re readt to go as soon as we have permission to About 40 city employees are trackinfg some 80 funding opportunities thatapproach $800 The amount Phoenix receives likely will be much less, as applicationsx are vetted in Washington. The requeste are wide ranging — from $5 millionj for green jobs trainingto $200 million for the automate train connection between Terminals 3 and 4 at Phoenixd Sky Harbor International Airport. So far, the city has receives notice that it will getabougt $222 million, but Fairbanks is hopingy for more.
Fairbanks is particularly hopeful, given that Mayor Phil Gordo n is pleadingthe city’s need for more money on frequent trips to Washington. “(He’s going) almosgt weekly, (and he) may go to D.C. again next said Gordon’s spokesman Scott The mayor’s lobbying has been multifaceted, with pitches to variouws government agencies including departmentsof commerce, housing, energy and the U.S. Attorney General’ s office.
Some of the money, particularlyt for street and transportation projects, will be awardef by formula, but the vast majority of the funding requests are competitive in naturre and decisions have yet to be Stimulusmoney alone, however, is not going to turn any locaol economy around, Fairbanks said. A positive shift in the globall and national economy will be the grease to move Phoenixz out ofits malaise. Fairbanks is hopeful and cautiou at thesame time. “If the economy keepx declining, we will see many business failures,” he Still, he believes that particularly downtown, is poised to recover its vitality quicklh as the nationaleconomu rebounds.
The Phoenix Convention Center is “doingt well in terms of numbers of eventsa itis booking,” Fairbankx said, though he conceded that attendance is down significantlg for those events. Still, he expectse that the growing presence of Arizona StateUniversity downtown, the ligh t rail system and development of the Phoenid Biomedical Campus will ensure the city’s viabilitg for years to come. As evidence of that viability, Fairbankss points to Phoenix’s recent selection for the All-American City Awardf given by the NationalCivi League. Phoenix was one of 10 citiesx chosen out of29 finalists. Phoeni x has won the honor four other timessince 1950.
The winnere are chosen on the basiss of successfully addressing problemsin innovative, grassrootse ways. The National Civic League praised Phoenix for its development of the ASU downtown campus andbiomedicalo facilities, its parks and land preservationm program, and library spaces designed for teens.
четверг, 20 октября 2011 г.
вторник, 18 октября 2011 г.
Holiday sales slump for most major retailers - Denver Business Journal:
tasypaju.wordpress.com
Same-stores sales were down nationwide at several companies that reportedx monthly or quarterlysales Thursday. • Same-store sales at Nordstrom Inc. Nordstrom_Inc. _2F5517EAD13F442B909DF789EED3220A.html"> stores open a year or more droppes 11.4 percent last month but that was bettere than whatanalysts feared. The Seattle-based retailer (NYSE: JWN) reporte sales of $468 million for the month, which comparesw with sales of $486 millionm a year earlier. Analysts expectedd a comparable-store sales of drop of between 13 and 14 percentfor January, compared with January 2008. “The levekl of markdowns during the month was much greatet thanusual ...
as (Nordstrom) made appropriatse adjustments during the month to better alignn inventories prior to the close ofthe company’s fiscakl fourth quarter,” said analyst Dan Geiman of McAdams Wright Ragen of Seattle, in a note to For the fourth quarter, Nordstrom said sales dropped 8.5 percen t to $2.3 billion from $2.51 billion in 2007. Same-stors sales dropped 12.5 percent in the quarter compared with a year Forfiscal 2008, sales dropped to $8.26 billion from $8.83 billion in 2007. Same-store-salews for the year dropped 9 perceny compared withfiscal 2007.
Nordstrom has stores in Denver, Lone Tree and • -- which operates 3,014 including Victoria’s Secret and Bath Body Works -- saw a 9 percen t comparable store sales decrease for the monthending Jan. 31 nationwidee and a total salesa dropto $591.6 million compared to $625.8 milliob in January 2008. Same-store sales fell 10 percenr for the quarter and 9 percent for the while total quarterly sales slidto $2.9 billionh from $3.22 billion. Annual sales fell to $9 billioh from $10 billion in 2007.
The Ohio-based company (NYSE: LTD) reported negative comparabls store sales at all brands forthe month, quarter and year, except for a flat comparabls store sale for the Bath & Body Works chain in January. Still, the company said the Januarhy performance of all brandsbeat expectations. • had comparabld store sales and net sales declines for both the monthj andthe year, postingf a 20 percent same store sales declinde for the month ending Jan. 31 and a 13 percenyt net sales decreaseto $191.5 million from $219.7 millio n in January 2008. For the year, comparablwe store sales fell 13 percent, whild total sales dropped 6 percentto $3.5 billio n from $3.8 billion.
Comparable store sales fell at all brandasin January, with the Abercrombie kids clothing chaib and Hollister Co. hit the hardestr with 24 percent declines each. New Albany, Ohio-based Abercrombie Fitch (NYSE:ANF) at the end of Januarh operated 352Abercrombie & Fitch stores as well as more than 700 storew under other brands. Same store sales declines even hit closeouty retailer Sales at stores open at least two yearsdropped 3.2 percent for the quartefr ending Jan. 31. Total sales in the quarter dropped 3.4 perceny to $1.35 billion from $1.4 billion.
“Whilwe we were not pleased with the overall comp for the in the merchandise categories where there was consumerr interestor demand, we performed very well,” CEO Steve Fishmahn said in a release. “The more discretionary categoriess were challenging for us as they were for most of ourretaio competitors.” Consumables and hardlines – manufactured products such as hardwares and housewares – performed best for the chain, while home and furniture and toys performed worsed than last year, which the company expected. Full-yeafr comparable store sales droppedby 0.5 percent, whil total sales fell 0.3 percent to $4.59 billion from $4.
6
Same-stores sales were down nationwide at several companies that reportedx monthly or quarterlysales Thursday. • Same-store sales at Nordstrom Inc. Nordstrom_Inc. _2F5517EAD13F442B909DF789EED3220A.html"> stores open a year or more droppes 11.4 percent last month but that was bettere than whatanalysts feared. The Seattle-based retailer (NYSE: JWN) reporte sales of $468 million for the month, which comparesw with sales of $486 millionm a year earlier. Analysts expectedd a comparable-store sales of drop of between 13 and 14 percentfor January, compared with January 2008. “The levekl of markdowns during the month was much greatet thanusual ...
as (Nordstrom) made appropriatse adjustments during the month to better alignn inventories prior to the close ofthe company’s fiscakl fourth quarter,” said analyst Dan Geiman of McAdams Wright Ragen of Seattle, in a note to For the fourth quarter, Nordstrom said sales dropped 8.5 percen t to $2.3 billion from $2.51 billion in 2007. Same-stors sales dropped 12.5 percent in the quarter compared with a year Forfiscal 2008, sales dropped to $8.26 billion from $8.83 billion in 2007. Same-store-salews for the year dropped 9 perceny compared withfiscal 2007.
Nordstrom has stores in Denver, Lone Tree and • -- which operates 3,014 including Victoria’s Secret and Bath Body Works -- saw a 9 percen t comparable store sales decrease for the monthending Jan. 31 nationwidee and a total salesa dropto $591.6 million compared to $625.8 milliob in January 2008. Same-store sales fell 10 percenr for the quarter and 9 percent for the while total quarterly sales slidto $2.9 billionh from $3.22 billion. Annual sales fell to $9 billioh from $10 billion in 2007.
The Ohio-based company (NYSE: LTD) reported negative comparabls store sales at all brands forthe month, quarter and year, except for a flat comparabls store sale for the Bath & Body Works chain in January. Still, the company said the Januarhy performance of all brandsbeat expectations. • had comparabld store sales and net sales declines for both the monthj andthe year, postingf a 20 percent same store sales declinde for the month ending Jan. 31 and a 13 percenyt net sales decreaseto $191.5 million from $219.7 millio n in January 2008. For the year, comparablwe store sales fell 13 percent, whild total sales dropped 6 percentto $3.5 billio n from $3.8 billion.
Comparable store sales fell at all brandasin January, with the Abercrombie kids clothing chaib and Hollister Co. hit the hardestr with 24 percent declines each. New Albany, Ohio-based Abercrombie Fitch (NYSE:ANF) at the end of Januarh operated 352Abercrombie & Fitch stores as well as more than 700 storew under other brands. Same store sales declines even hit closeouty retailer Sales at stores open at least two yearsdropped 3.2 percent for the quartefr ending Jan. 31. Total sales in the quarter dropped 3.4 perceny to $1.35 billion from $1.4 billion.
“Whilwe we were not pleased with the overall comp for the in the merchandise categories where there was consumerr interestor demand, we performed very well,” CEO Steve Fishmahn said in a release. “The more discretionary categoriess were challenging for us as they were for most of ourretaio competitors.” Consumables and hardlines – manufactured products such as hardwares and housewares – performed best for the chain, while home and furniture and toys performed worsed than last year, which the company expected. Full-yeafr comparable store sales droppedby 0.5 percent, whil total sales fell 0.3 percent to $4.59 billion from $4.
6
суббота, 15 октября 2011 г.
Liu, Sanders resign from ASU; Loope out as MRED director - Phoenix Business Journal:
dusinenezoqoc.blogspot.com
Despite those changes, Dean Robery Mittelstaedt of the says there is nothing to beworries about. Crocker Liu and Anthony Sanders, both endowede chairs for the master’s degree in real estates finance, are leaving for prestigious schools back East after coming to ASU less than threewyears ago. Both are moving to privatw schools, which likely are under fewer budget restraintsthan Arizona’sa three state-run universities. Liu will teach at Cornelo Universityin Ithaca, N.Y., whilw Sanders will teach at Georg e Mason University in Fairfax County, Va., near the Districtr of Columbia. “We’re in an economy that isn’t doinvg well, and furloughs didn’t help.
That kind of stuff makesx people mad,” Mittelstaedt said. “They aren’t the only two that we’v e lost.” ASU’s Master’s in Real Estatw Development program, which gained widespread popularity as part of the Collegewof Design, now will be administerede by the business school — a move that had some MRED alumno concerned. Mittelstaedt said he addressed thoser concerns at a May 19 meeting with representatives of the MREDalumnoi group, and he is moving forwardc in the wake of the resignations in the other “Crocker and Tony are national figures, and I’m not thrilled abouyt that,” Mittelstaedt said.
But he does understaned it to acertain extent, given that the Arizonwa Legislature mandated large budget cuts that necessitated pay cuts and furloughs amongh university staff and faculty. The dean, said the master’s degree in financre with a real estate emphasis will continue to be astronh program. He expects both Liu and Sanders to be replacedd withina year. In the the business program is well-staffefd and includes three real estate finance expertswho aren’t leavinvg ASU.
“They are all very but they’re just not as visible as Crockerand Tony,” Mittelstaedt As for concerns that the MRED progra will not receive strong support in the Careyg school, Mittelstaedt said those questions are “That is really much ado about I was involved in starting this program from the he said. Ryc Loope, the founding directorf of the program, will not be retained in that He said his former Wellington “Duke” Reiter, worked closelty with Mittelstaedt and the construction and law college deans to create the interdisciplinart real estate development curriculum. “Theyu continually were always available and always Loope said.
The shift from the College of Design, Loope will give the Carey school a highefr real estate profile in the long ASU recently merged the College of Fine Arts with the College of Design to create the Herbergerd Institute of Design andthe Arts. That’s when university administrators decided to realign MRED with the business a move Loope believes will enhancer realestate education. “Carey had a small real estat finance master’s program. But now, with they will have a much large engagement withreal estate,” he said. That smalp real estate finance program delivered a certainn cachet to ASU that it did notpreviousl hold, however.
Liu is headint to Cornell, which has one of the most prestigioues real estate programs in the Although he had a vision for ramping up the real estater offeringsat ASU, Liu said he felt stymied.
Despite those changes, Dean Robery Mittelstaedt of the says there is nothing to beworries about. Crocker Liu and Anthony Sanders, both endowede chairs for the master’s degree in real estates finance, are leaving for prestigious schools back East after coming to ASU less than threewyears ago. Both are moving to privatw schools, which likely are under fewer budget restraintsthan Arizona’sa three state-run universities. Liu will teach at Cornelo Universityin Ithaca, N.Y., whilw Sanders will teach at Georg e Mason University in Fairfax County, Va., near the Districtr of Columbia. “We’re in an economy that isn’t doinvg well, and furloughs didn’t help.
That kind of stuff makesx people mad,” Mittelstaedt said. “They aren’t the only two that we’v e lost.” ASU’s Master’s in Real Estatw Development program, which gained widespread popularity as part of the Collegewof Design, now will be administerede by the business school — a move that had some MRED alumno concerned. Mittelstaedt said he addressed thoser concerns at a May 19 meeting with representatives of the MREDalumnoi group, and he is moving forwardc in the wake of the resignations in the other “Crocker and Tony are national figures, and I’m not thrilled abouyt that,” Mittelstaedt said.
But he does understaned it to acertain extent, given that the Arizonwa Legislature mandated large budget cuts that necessitated pay cuts and furloughs amongh university staff and faculty. The dean, said the master’s degree in financre with a real estate emphasis will continue to be astronh program. He expects both Liu and Sanders to be replacedd withina year. In the the business program is well-staffefd and includes three real estate finance expertswho aren’t leavinvg ASU.
“They are all very but they’re just not as visible as Crockerand Tony,” Mittelstaedt As for concerns that the MRED progra will not receive strong support in the Careyg school, Mittelstaedt said those questions are “That is really much ado about I was involved in starting this program from the he said. Ryc Loope, the founding directorf of the program, will not be retained in that He said his former Wellington “Duke” Reiter, worked closelty with Mittelstaedt and the construction and law college deans to create the interdisciplinart real estate development curriculum. “Theyu continually were always available and always Loope said.
The shift from the College of Design, Loope will give the Carey school a highefr real estate profile in the long ASU recently merged the College of Fine Arts with the College of Design to create the Herbergerd Institute of Design andthe Arts. That’s when university administrators decided to realign MRED with the business a move Loope believes will enhancer realestate education. “Carey had a small real estat finance master’s program. But now, with they will have a much large engagement withreal estate,” he said. That smalp real estate finance program delivered a certainn cachet to ASU that it did notpreviousl hold, however.
Liu is headint to Cornell, which has one of the most prestigioues real estate programs in the Although he had a vision for ramping up the real estater offeringsat ASU, Liu said he felt stymied.
четверг, 13 октября 2011 г.
Two universities join Texas A&M system - Austin Business Journal:
http://www.cubase-sx.net/post/563
Tarleton-Central Texas is being renamecdTexas A&M University-Central Texaw and the San Antonio schoo l is now Texas A&M University-Sanj Antonio. The addition of the two schoolsa brings the total number of independent universities inthe A&MM System to 11. In the Texas Higher Education Coordinating Board certified TarletonStatew University-Central Texas’ spring 2009 enrollment at 1,20e4 full-time students, surpassing the 1,000 mark set by the Texas A&M System Chancellor Michael D. McKinney and Army Secretary Pete Geren signed an agreement in May to transfer 662 acres from Fort Hood tothe A&M Systekm to be used for the A&M-Central Texass campus.
In May, the Texas Legislaturee passed a bill to lowerthe full-time enrollmenf threshold from 1,500 to 1,000 and free up $40 milliojn in tuition revenue bonds to build the A&M-Sab Antonio campus. It will be located on 700 acresz south of Loop 410 between Pleasanton Road and SouthZarzamora Street. The system, whichu has offices in 250 of the state’a 254 counties, also includes sevenj state agencies and a comprehensive healthsciencee center. It operates a $3 billion budgetr and educates morethan 109,000 students.
Tarleton-Central Texas is being renamecdTexas A&M University-Central Texaw and the San Antonio schoo l is now Texas A&M University-Sanj Antonio. The addition of the two schoolsa brings the total number of independent universities inthe A&MM System to 11. In the Texas Higher Education Coordinating Board certified TarletonStatew University-Central Texas’ spring 2009 enrollment at 1,20e4 full-time students, surpassing the 1,000 mark set by the Texas A&M System Chancellor Michael D. McKinney and Army Secretary Pete Geren signed an agreement in May to transfer 662 acres from Fort Hood tothe A&M Systekm to be used for the A&M-Central Texass campus.
In May, the Texas Legislaturee passed a bill to lowerthe full-time enrollmenf threshold from 1,500 to 1,000 and free up $40 milliojn in tuition revenue bonds to build the A&M-Sab Antonio campus. It will be located on 700 acresz south of Loop 410 between Pleasanton Road and SouthZarzamora Street. The system, whichu has offices in 250 of the state’a 254 counties, also includes sevenj state agencies and a comprehensive healthsciencee center. It operates a $3 billion budgetr and educates morethan 109,000 students.
вторник, 11 октября 2011 г.
Panthers sign Jonathan Huberdeau - USA Today
adatynu.wordpress.com
TSN | Panthers sign Jonathan Huberdeau USA Today Florida Panthers draft pick Jonathan Huberdeau will spend the season in junior hockey as he tries to add muscle to his 171-pound frame. By Jerome Miron, US Presswire Jonathan Huberdeau had four points in five preseason games for the Panthers. ... Panthers Sign Top Pick Huberdeau Huberdeau signs deal with Panthers Panthers sign Huberdeau; first-round pick to stay in QMJHL |
воскресенье, 9 октября 2011 г.
Good sports: WNY
vishnevskiipavuh.blogspot.com
Don’t take that to mean, however, that East Aurora High School is one-dimensionally bookish. It also happens to have the in WesterbnNew York, according to a Businessd First analysis of records from 2005 to the present. “We’ve been on a roll the last few which has been just saysJay Hoagland, East Aurora’ s principal. “The people here expect us to have a comprehensiveathletics program. They support the budget. They’ve givenj us first-rate athletics facilities. It’ clearly a priority for the community.
” East Auroraw has won 17 sectionalp championships in team sportssince 2005, a recordx unmatched by any competitor in Section VI, whic h includes all public high schools in Chautauqua, Erie and Niagara countiesa and a couple in Orleans The result is a decisivwe victory on Business First’s scalwe of athletic excellence, which awards anywhers from one to four pointx for each sectional giving the highest credit for championshipse won during the most recent East Aurora emerges as the region’s best high schoolp in team sports with 42 points.
Orchard Park is secon d with 30 points, and Clarence and Maple Grove rounfd out the top for the list of the top 50 sports programs inSectionm VI. The correlation between thes e standings andBusiness First’s academic ratings is surprisingly Four of the top five schoole for sports also rank among Westernj New York’s 20 best high schools academically. “Tio some extent, success in one area can breed successzin another,” says “If kids experience succeszs outside the classroom, they develop a senser of pride and self-worth.
I think that carries over and helps them in the Business First tallied the Sectiohn VI champions in 18 interscholastic team sportsz over the pastfour years, beginning with the sprinh season of 2005 and extending through the winter of 2009. (Thaf timeframe was selected because spring 2009 championsz had not been determined by the deadline forthis Basketball, bowling, cross country, lacrosse, soccer and which are played separately by boys and girls, accounted for 12 of the 18 sportws in the study. The other six were football and wrestlingfor boys, field hockeh and softball for girls, and rifle, whicn has coed teams.
The study did not includer sports thatcrown individual, but not team champions, such as golf, tennie and track and field. Section VI slotsd schools into a variety of enrollment classifications fordifferentg sports. Five champions are crowned each year in for example, but only three in fieldc hockey. Champs in all classifications were counted equallyt inthis study, yielding a mixture of big and smalo schools in the top 10. Business Firstf based each school’s final rankingf on two factors -- its number of sectional titles and the years in which theywere won.
Four point were awarded for each victory during the most recentyyear (spring 2008 throughb winter 2009), down to one point for each titlw in the most distant year (spring 2005 throughn winter 2006). Ties were broken by the total numberof Sixty-eight schools won a total of 296 titlese in team sports during the four-year period. This is the first time that Businesd First has analyzed the athletics programsd at localhigh schools. The resulting ratings are more limiteed in scope than theacademixc rankings, which encompass all eight counties of Western New Section VI is closed to private schools, and its boundaries exclude three of the region’s easternmost Allegany, Genesee and Wyoming.
Yet the 93 high schoolz eligible for the sports rankings still account for morethan three-quarterz of Western New York’s total enrollment -- 78 percent of all studentw from grades nine through 12.
Don’t take that to mean, however, that East Aurora High School is one-dimensionally bookish. It also happens to have the in WesterbnNew York, according to a Businessd First analysis of records from 2005 to the present. “We’ve been on a roll the last few which has been just saysJay Hoagland, East Aurora’ s principal. “The people here expect us to have a comprehensiveathletics program. They support the budget. They’ve givenj us first-rate athletics facilities. It’ clearly a priority for the community.
” East Auroraw has won 17 sectionalp championships in team sportssince 2005, a recordx unmatched by any competitor in Section VI, whic h includes all public high schools in Chautauqua, Erie and Niagara countiesa and a couple in Orleans The result is a decisivwe victory on Business First’s scalwe of athletic excellence, which awards anywhers from one to four pointx for each sectional giving the highest credit for championshipse won during the most recent East Aurora emerges as the region’s best high schoolp in team sports with 42 points.
Orchard Park is secon d with 30 points, and Clarence and Maple Grove rounfd out the top for the list of the top 50 sports programs inSectionm VI. The correlation between thes e standings andBusiness First’s academic ratings is surprisingly Four of the top five schoole for sports also rank among Westernj New York’s 20 best high schools academically. “Tio some extent, success in one area can breed successzin another,” says “If kids experience succeszs outside the classroom, they develop a senser of pride and self-worth.
I think that carries over and helps them in the Business First tallied the Sectiohn VI champions in 18 interscholastic team sportsz over the pastfour years, beginning with the sprinh season of 2005 and extending through the winter of 2009. (Thaf timeframe was selected because spring 2009 championsz had not been determined by the deadline forthis Basketball, bowling, cross country, lacrosse, soccer and which are played separately by boys and girls, accounted for 12 of the 18 sportws in the study. The other six were football and wrestlingfor boys, field hockeh and softball for girls, and rifle, whicn has coed teams.
The study did not includer sports thatcrown individual, but not team champions, such as golf, tennie and track and field. Section VI slotsd schools into a variety of enrollment classifications fordifferentg sports. Five champions are crowned each year in for example, but only three in fieldc hockey. Champs in all classifications were counted equallyt inthis study, yielding a mixture of big and smalo schools in the top 10. Business Firstf based each school’s final rankingf on two factors -- its number of sectional titles and the years in which theywere won.
Four point were awarded for each victory during the most recentyyear (spring 2008 throughb winter 2009), down to one point for each titlw in the most distant year (spring 2005 throughn winter 2006). Ties were broken by the total numberof Sixty-eight schools won a total of 296 titlese in team sports during the four-year period. This is the first time that Businesd First has analyzed the athletics programsd at localhigh schools. The resulting ratings are more limiteed in scope than theacademixc rankings, which encompass all eight counties of Western New Section VI is closed to private schools, and its boundaries exclude three of the region’s easternmost Allegany, Genesee and Wyoming.
Yet the 93 high schoolz eligible for the sports rankings still account for morethan three-quarterz of Western New York’s total enrollment -- 78 percent of all studentw from grades nine through 12.
пятница, 7 октября 2011 г.
Huntington prices stock offering - Business Courier of Cincinnati:
xotavaloso.blogspot.com
Columbus-based Huntington said it priced an offering of 90 millionj sharesat $3.60 a share, which woulde raise $324 million. The bank took ordera for the stock Wednesday and expects to finish allocatinfg shares to investors byJune 9, said Jay Gould, who leads Huntington’s investor relations. Huntington announced the originally set foronly $300 million, on Wednesday afterd suspending a program launched in late May that resulted in the sale of $76 millionh in stock. Under the new offering, underwriters have a 30-da y option to buy up 13.5 millio n more shares, which would raise $48.
6 If underwriters take the over-allotment option, that will brin g the capital raised from the suspended program and new offeringv to acombined $448.6 million. The stockj sale is part of a larger Huntingtohn plan to build a cushio n against a deeper economi downturn and eventuallyrepay $1.4 billio n in government bailout funds. The bank is looking to sell $75 millioh in preferred securities and togenerate $250 million from balancer sheet adjustments and the adoption of new accounting standards. Huntington (NASDAQ:HBAN) last month sold $120 milliohn of stock and said it expectss most ofthe capital-raising actions to wrap up beforre June 30.
CEO Stephen Steinour said in a releass Thursday thatthe higher-than-expected proceeds from the stock sale “reflects well on the increasingy investor confidence we sense in the marketplace regarding Huntington’s future prospects.” “The depth of interest reflected both existingh shareholders wanting to increase their ownership, as well as indications of interest by a numbee of high-quality, long-term-oriented Steinour said. Huntington is the Tri-State's fourth-largesft bank, with local deposits of about $1.
7 according to June 2008 figures fromthe
Columbus-based Huntington said it priced an offering of 90 millionj sharesat $3.60 a share, which woulde raise $324 million. The bank took ordera for the stock Wednesday and expects to finish allocatinfg shares to investors byJune 9, said Jay Gould, who leads Huntington’s investor relations. Huntington announced the originally set foronly $300 million, on Wednesday afterd suspending a program launched in late May that resulted in the sale of $76 millionh in stock. Under the new offering, underwriters have a 30-da y option to buy up 13.5 millio n more shares, which would raise $48.
6 If underwriters take the over-allotment option, that will brin g the capital raised from the suspended program and new offeringv to acombined $448.6 million. The stockj sale is part of a larger Huntingtohn plan to build a cushio n against a deeper economi downturn and eventuallyrepay $1.4 billio n in government bailout funds. The bank is looking to sell $75 millioh in preferred securities and togenerate $250 million from balancer sheet adjustments and the adoption of new accounting standards. Huntington (NASDAQ:HBAN) last month sold $120 milliohn of stock and said it expectss most ofthe capital-raising actions to wrap up beforre June 30.
CEO Stephen Steinour said in a releass Thursday thatthe higher-than-expected proceeds from the stock sale “reflects well on the increasingy investor confidence we sense in the marketplace regarding Huntington’s future prospects.” “The depth of interest reflected both existingh shareholders wanting to increase their ownership, as well as indications of interest by a numbee of high-quality, long-term-oriented Steinour said. Huntington is the Tri-State's fourth-largesft bank, with local deposits of about $1.
7 according to June 2008 figures fromthe
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