The sixth-largest bank in the Nashville MSA (Ticker: FITB) will get more than $1.2 billion from Boston buyout fund Advent International.
"The transaction significantly enhances the level and composition of our already very strong regulatory capital position. We believe our strengthened capital position, in combination with our strong credit reserves and earnings power, provide us with the resources and the ability to withstand a more difficult economic environment should that occur."
Mar 29, 2009 11:48 PM
Former Ingram executive Peter Clifton has teamed with publishing strategist Mike Schatzkin on filedbyauthor, a site that aims to become the default destination for promoting authors and their works. The site has pages 'ready to be claimed and enhanced' by the authors – here's the page for Richard Florida, lover of Nashville and author of "Who's Your City?" – and will make its money by charging for add-on marketing services.
Mar 25, 2009 3:06 PM
Comcast will join RIAA's antipiracy campaign:
Joe Waz, a senior vice president at Comcast, the nation's second largest ISP, told a gathering of music industry executives that the company has issued 2 million notices on behalf of copyright owners, according to multiple people who were in attendance. Waz made the comments Tuesday while part of a panel at the Leadership Music Digital Summit in Nashville. This was the same event where an AT&T executive told the gathering that the nation's largest ISP was cooperating with the Recording Industry Association of America by sending notices to customers accused of illegal filing sharing. The letters are part of a trial program, the executive told the audience.
Mar 25, 2009 12:44 PM
Medical transcription outfit Spheris this afternoon announced its fourth-quarter and year-end results which saw income rise on falling revenue.
Net revenues for the fourth quarter of 2008 were $41.8 million compared with $48.6 million for the fourth quarter of 2007. The decrease in net revenues was due to the impact of net lost business and lower average customer contract pricing. Operating income was $4.7 million, or 11.2% of net revenues, for the fourth quarter of 2008 compared with $1.2 million, or 2.5% of net revenues, for the fourth quarter of 2007. The improvement in operating income was driven by increased utilization of the global production workforce and speech recognition technologies, in addition to lower marketing, selling and general and administrative expenses that resulted from the Company's cost-containment efforts. These improvements more than offset the decrease in net revenues noted above. Additionally, the improvement in operating income was aided by lower amortization expense as certain capitalized customer lists were fully amortized.And here's the company’s 10-K filed last Friday.
Mar 24, 2009 3:24 PM
POSTDATA: WARRANTY DEEDS