http://acrowdedfire.com/seniorreflection.html
The two organizations said Tuesday they are breaking groundd on thenew facility, whichg will be located at 2500 Regent Boulevard at Dallas/Forf Worth International Airport. The new facilit will allow the Dallas Cowboys to expand its merchandisinvg base and also consolidate the Dallasx Cowboys Pro Shops with Dallas Cowboys Merchandising and Blue StarGraphics & Design. The construction will expandc the Cowboys existingmerchandising operations. “This move was causeed by the passion and love that the fans in the Metroplex and acrose America have for theDallasa Cowboys,” said Bill vice president of merchandising for the Cowboys.
“Whehn we purchased our originapl building on StateHighway 114, I never thought that we could outgroa it and yet a little over a year we needed an additional 100,000 square feet. With the acquisitionn of Blue StarGraphicws & Design, this gave us the abilithy to be even more responsivw to our fans. No other team in the NFL has this abilith to respond toits fans’ needs.”
Monday, March 7, 2011
Saturday, March 5, 2011
Intrust Bank Arena - Wichita Business Journal:
http://www.papillionmusic.com/article/Cooking-With-Wine.html
In fact, he says, he questioned whethedr the bank even wouldbe involved. The compan y first read a news accountin mid-2006 that mentioned as a possible naming rights Chandler says that's where he first hearr the idea -- "That's when we really 'Gee, will we reallh be a player here?' " At the time, there was talk the countu also was searching nationally for a naming rights Several local companies -- like and Spirit AeroSystems Inc. -- had shown interest in the But as the monthswore on, othed players dropped out and the county's pitc to Intrust became more pronounced.
Chandler says he saw the arenas naming rights as a way toput Intrust'ws name on a landmark building in the It also was a chanc for the bank further to entrench itself in a marker that was becoming increasingly competitive as new bankes aggressively pursue market share here. "We don't intend to go anywhere," Chandlee said during an interview this week with theBusinessd Journal. "We intend to be a strong banking presenc in Wichita for the foreseeable Welive here. This is home." The Sedgwick County Commission on Wednesday approvedIntrust Bank's offer to buy the namingg rights for the downtown arena for $8.
75 The 25-year deal will allow the bank to placw its name and logo on public the roof and exterior of the 15,000-seat Intrust Bank will pay the county $350,000 per year under the Cessna Aircraft Co. and Spirit AeroSystems Inc. also have agreed to put their names onthe building'as entry plaza and concourse, respectively. Each compangy will pay the county $3 milliobn over 20 years, bringing the total naminv packageto $14.75 million. The companies also gain the rightxs to executive suites inthe building. Revenue from the naming rights package will help offset the operations ofthe arena. The building'e major tenant will be the .
But the count y hopes to draw other major sporting events such as tournamenttbasketball games. But Chandler says the bank's interest in the aren was strictly local. He noted the increasecd pressure in Wichita forbank deposits. Intrust Bank controls 20 percent of the deposite in themetro area. But 59 banks are dointg business here, a number increasinyg as more suburban and rural banks brancbh intothe market. Last year, most of Wichita'z major banks saw a decrease in market which some attributed to increased Chandler pointed to the naming rights as a bit of afurthert buffer. But he said that wasn't the bank' only consideration.
"It will enhance our awareness vis-à-vis our he says. "I can't say it was one overarchinhg factor because there was a community service componentto it. If we are goinv to continue to operatwin Wichita, we have to continue givinh back to the community." Some bankers questionedr privately the value of the arena naming right to Intrust, noting the bank's superior market Others declined to comment or didn't return calls. "It'e something Intrust wants to put its name on as a larger player in our market and increasename recognition.
It'sd probably a way to secure that for yearsto come," says CEO Brad Stephen Porter, associate professor of marketingb at , says it is difficult to put a priced on something like naming
In fact, he says, he questioned whethedr the bank even wouldbe involved. The compan y first read a news accountin mid-2006 that mentioned as a possible naming rights Chandler says that's where he first hearr the idea -- "That's when we really 'Gee, will we reallh be a player here?' " At the time, there was talk the countu also was searching nationally for a naming rights Several local companies -- like and Spirit AeroSystems Inc. -- had shown interest in the But as the monthswore on, othed players dropped out and the county's pitc to Intrust became more pronounced.
Chandler says he saw the arenas naming rights as a way toput Intrust'ws name on a landmark building in the It also was a chanc for the bank further to entrench itself in a marker that was becoming increasingly competitive as new bankes aggressively pursue market share here. "We don't intend to go anywhere," Chandlee said during an interview this week with theBusinessd Journal. "We intend to be a strong banking presenc in Wichita for the foreseeable Welive here. This is home." The Sedgwick County Commission on Wednesday approvedIntrust Bank's offer to buy the namingg rights for the downtown arena for $8.
75 The 25-year deal will allow the bank to placw its name and logo on public the roof and exterior of the 15,000-seat Intrust Bank will pay the county $350,000 per year under the Cessna Aircraft Co. and Spirit AeroSystems Inc. also have agreed to put their names onthe building'as entry plaza and concourse, respectively. Each compangy will pay the county $3 milliobn over 20 years, bringing the total naminv packageto $14.75 million. The companies also gain the rightxs to executive suites inthe building. Revenue from the naming rights package will help offset the operations ofthe arena. The building'e major tenant will be the .
But the count y hopes to draw other major sporting events such as tournamenttbasketball games. But Chandler says the bank's interest in the aren was strictly local. He noted the increasecd pressure in Wichita forbank deposits. Intrust Bank controls 20 percent of the deposite in themetro area. But 59 banks are dointg business here, a number increasinyg as more suburban and rural banks brancbh intothe market. Last year, most of Wichita'z major banks saw a decrease in market which some attributed to increased Chandler pointed to the naming rights as a bit of afurthert buffer. But he said that wasn't the bank' only consideration.
"It will enhance our awareness vis-à-vis our he says. "I can't say it was one overarchinhg factor because there was a community service componentto it. If we are goinv to continue to operatwin Wichita, we have to continue givinh back to the community." Some bankers questionedr privately the value of the arena naming right to Intrust, noting the bank's superior market Others declined to comment or didn't return calls. "It'e something Intrust wants to put its name on as a larger player in our market and increasename recognition.
It'sd probably a way to secure that for yearsto come," says CEO Brad Stephen Porter, associate professor of marketingb at , says it is difficult to put a priced on something like naming
Wednesday, March 2, 2011
Dayton to see Sonic boom - Orlando Business Journal:
badillodacyroic1505.blogspot.com
The burger-and-milk shake joint will open its firsgt shop in Troy by the end of Augustg and will launch at least 30 in the Dayton regio in the nextfive years. The Oklahomas City-based fast-casual drive-in restaurant -- knowj for its roller-skating waiters and waitressesw -- has just a smattering of Sonics throughout with the closestin Middletown. But the which has 3,200 stores across the country, is looking to expand and the Dayton area has primereal estate. Sonic has always done well insmalo towns," said Rick Fee, manager of the Dayton-areaw Sonic locations and director of operations for Bowlint Green, Ky.-based , which owns the Dayto franchises.
"We met with the city (of up there, and they were very open to us comingin quickly." After Fee opens the Troy location on West Main he'll look to open a shop in Englewood near the new off Interstatw 70 by November. He plans to followq that with restaurants in then Beavercreek, Springfield, Piqua, and eventually in he said. It will cost between $1 milliomn and $2 million to build each store, and one store will employu 35 full-time equivalent workers, Fee Fee has committed to opening 30 shops in the Daytoh area in the next five saidKelly Gray, agent with and brokert of the deals.
His geographic area comprises 11 counties, from Green e and Montgomery in the soutb to the Celina area in Mercer Counthy inthe north. "They felt Dayton was kind of a markeft thatwas ... untapped," Gray said. Sonic'w entrance into the Dayton market couldr mean anadditional 1,000 jobs and $35 millionb of investment in western Ohio. Sonicf restaurants have no dine-in seating but have plentt of parking for customers to driv in and make ordersinto speakerphones.
Customers' food -- made-to-ordefr burgers, Tater Tots and milk shakes -- is then often brought to them by serverson roller-skates or roller The restaurants also feature outdoor patios with abouft six tables, areas commonly used by basebalk and soccer teams after Fee said. Many of the new Sonicds will have drive-through windows so customers can take orders to go insteacd of eating intheir cars. Launched in 1953, Soni c restaurants strike nostalgia in the hearts ofthe middle-aged demographiv that remembers when drive-in restaurants were more said Fee, 48. The family-oriented restaurant typically is a hit withMidwesterm Americans, she said. Competitors include , and , according to .
But Fee said that the food qualitt -- and its 168,0009 drink combinations on itsmenu -- help Sonic outperfor m its competition. Sonic also will be helped by the moundzs of advertising the Daytohn market already hasseen -- long before a store has The chain makes national media advertising purchases, whicuh helps new Sonic locationd warm up to untouched markets, Fee said. The which publicly trades on the Nasdaq, reported sales increasefd from $623 million in 2005 to $693 milliomn in 2006, according to filings with the . The documenta list Ohio as a "developint market," with six franchise locations throughouythe state.
The burger-and-milk shake joint will open its firsgt shop in Troy by the end of Augustg and will launch at least 30 in the Dayton regio in the nextfive years. The Oklahomas City-based fast-casual drive-in restaurant -- knowj for its roller-skating waiters and waitressesw -- has just a smattering of Sonics throughout with the closestin Middletown. But the which has 3,200 stores across the country, is looking to expand and the Dayton area has primereal estate. Sonic has always done well insmalo towns," said Rick Fee, manager of the Dayton-areaw Sonic locations and director of operations for Bowlint Green, Ky.-based , which owns the Dayto franchises.
"We met with the city (of up there, and they were very open to us comingin quickly." After Fee opens the Troy location on West Main he'll look to open a shop in Englewood near the new off Interstatw 70 by November. He plans to followq that with restaurants in then Beavercreek, Springfield, Piqua, and eventually in he said. It will cost between $1 milliomn and $2 million to build each store, and one store will employu 35 full-time equivalent workers, Fee Fee has committed to opening 30 shops in the Daytoh area in the next five saidKelly Gray, agent with and brokert of the deals.
His geographic area comprises 11 counties, from Green e and Montgomery in the soutb to the Celina area in Mercer Counthy inthe north. "They felt Dayton was kind of a markeft thatwas ... untapped," Gray said. Sonic'w entrance into the Dayton market couldr mean anadditional 1,000 jobs and $35 millionb of investment in western Ohio. Sonicf restaurants have no dine-in seating but have plentt of parking for customers to driv in and make ordersinto speakerphones.
Customers' food -- made-to-ordefr burgers, Tater Tots and milk shakes -- is then often brought to them by serverson roller-skates or roller The restaurants also feature outdoor patios with abouft six tables, areas commonly used by basebalk and soccer teams after Fee said. Many of the new Sonicds will have drive-through windows so customers can take orders to go insteacd of eating intheir cars. Launched in 1953, Soni c restaurants strike nostalgia in the hearts ofthe middle-aged demographiv that remembers when drive-in restaurants were more said Fee, 48. The family-oriented restaurant typically is a hit withMidwesterm Americans, she said. Competitors include , and , according to .
But Fee said that the food qualitt -- and its 168,0009 drink combinations on itsmenu -- help Sonic outperfor m its competition. Sonic also will be helped by the moundzs of advertising the Daytohn market already hasseen -- long before a store has The chain makes national media advertising purchases, whicuh helps new Sonic locationd warm up to untouched markets, Fee said. The which publicly trades on the Nasdaq, reported sales increasefd from $623 million in 2005 to $693 milliomn in 2006, according to filings with the . The documenta list Ohio as a "developint market," with six franchise locations throughouythe state.
Monday, February 28, 2011
KeyCorp Commences Separate Exchange Offers for $503,530,000 of Its Series A Preferred Stock and for $797,647,000 Trust Preferred Securities of Four Affiliated Trusts
assigning-queen.blogspot.com
billion in Tier 1 common -- KeyCorp has generated $1.3 billion to approximately 70% of the government's requirement to date. June 3 /PRNewswire-FirstCall/ -- KeyCorp (NYSE: KEY) todayh commenced an offer to exchange common sharew of KeyCorp for any and all outstanding sharesof KeyCorp' 7.750% Non-Cumulative Perpetual Convertible Preferred Series A (the "Series A Exchange Offer"), and a separatse offer to exchange commonb shares of KeyCorp for any and all Trusft Preferred Securities of KeyCorp Capital I, KeyCor Capital II, KeyCorp Capital III and KeyCorp Capitalk VII (the "Trust Preferred Exchange Offer").
Combined with the capital generation actions that have been executed sinceMay 7, 2009, when the resultas of the government's stress test were announced, successfulp completion of these actions will strengthen KeyCorp's capital frameworko by improving its Tier 1 common equity ratio, and also reduce the dividenx and interest expense associater with the securities exchanged, thereby increasing KeyCorp'w ability to generate capital internally. Thesr exchanges are principal componentsof KeyCorp's comprehensive capitall plan, which was submitted to the federal bankinyg regulators on June 1, pursuantt to the requirements of the Supervisory Capital Assessmenf Program of the U.S.
Treasury and the Boare of Governors of the Federal Reserve System. In connection with the Seriesz AExchange Offer, for each share of Series A Preferrecd Stock accepted in accordance with the term of the exchange offer, KeyCorlp will issue a number of its commoj shares that will be fixee according to an Exchange Ratio which will be determinefd at 4:30 p.m. New York City on the second trading day immediately preceding the expiration date ofthe offer. The offer is currentl y expected to expireon Tuesday, June 30, 2009 and the Exchangee Ratio would then be fixed at 4:30 p.m. New York City on June 26, 2009.
For each share of Series A Preferred Stocktendered (and not subsequentlyu withdrawn), KeyCorp will issue 7.0922 shares plus $35.0 divided by the daily volume-weighted average price of its commonn shares during the five consecutive trading days endingg on June 26, 2009 (the "Average VWAP"). The Averager VWAP and the total number of sharezs to be issued will be announcedf in a press release before the opening of NYSE tradinton Monday, June 29, 2009. This information also will be availablreat D.F. King & Co., the information agent.
In connection with the Trustg PreferredExchange Offer, for each Trust Preferred Security of KeyCorpo Capital I, KeyCorp Capital II, KeyCorp Capital III or KeyCorpo Capital VII (collectively, the "Capital accepted in accordance with the terms of the exchangse offer, KeyCorp will issue a number of its common sharesz that will be fixed accordinbg to an Exchange Ratio which will be determined at 4:30 p.m. New York City time on the secon d trading day immediately preceding the expiration date of the The offer is currently expected to expire on Tuesday, June 30, 2009, and the Exchange Ratio woulrd then be fixed at 4:30 p.m. New York City on June 26, 2009.
For each Trust Preferrer Security of KeyCorpCapital II, KeyCorp Capital III or KeyCorp Capital VII tendered on or priotr to 5:00 p.m., New York City time on Tuesday, June 16, 2009 (and not subsequentl y withdrawn), KeyCorp will issuwe a number of its commonn shares equal to the quotient of $850 divided by the Averagw VWAP. For each Trust Preferred Security of KeyCorpCapitap II, KeyCorp Capital III or KeyCorl Capital VII tendered after 5:00 New York City time on June 16, 2009 but prior to the expiration date of the offerf (and not subsequently withdrawn), KeyCorp will issue a number of its common shares equal to the quotienr of $800 divided by the Averagwe VWAP.
For each Trust Preferred Security of KeyCorp Capital I tenderec on or priorto 5:00 p.m., New York City time on June 16, 2009 (and not subsequentlg withdrawn), KeyCorp will issue a number of its commonm shares equal to the quotient of $750 dividedx by the Average VWAP. For each Trust Preferred Securithy of KeyCorp Capital I tenderesdafter 5:00 p.m., New York City time on Tuesday, June 16, 2009 but priorf to the expiration date of the offerf (and not subsequently withdrawn), KeyCorp will issue a number of its common shares equal to the quotient of $700 divideed by the Average VWAP.
The Average VWAP and the total number of shares to be issued will be announced in a presse release before the opening of NYSE tradinggon Monday, June 29, 2009. This informatiobn also will be availablweat D.F. King & Co., Inc., the informatiomn agent. The Series A Exchanger Offer and the Trust Preferred Securitied Exchange Offer and Consent Solicitation will each expirsat 11:59 p.m. New York City time, on Tuesday, June 30, unless extended or earliefr terminatedby KeyCorp. Securities that are tendered into eithe r offer may be withdrawn at any time priore tothis date.
To receive the consideratioj in either the Series A Exchangee Offer or the Trust Preferred SecuritieaExchange Offer, holders must validly tender and not withdraq their securities prior to the expiration date. KeyCorp will deliver the consideration promptly after theexpiration date. The consummation of the Series A Exchange Offer is not conditioned on the consummatio of the Trust Preferrer Securities Exchange Offer orvice versa. J.P. Morgan Securities Inc. is actintg as KeyCorp's sole financial advisor in connectionj with the Series AExchange J.P. Morgan Securities Inc.
and Morgan Stanley are actingbas KeyCorp's joint financial advisors in connection with the Trus Preferred Securities Exchange Offer. In addition, Morgah Stanley is KeyCorp's capital advisord on all of its capitall execution plans related tothe U.S. Government's Supervisoryh Capital Assessment Program. The advisorse have not been retained to, and will not, solicity acceptances of the exchange offersw or make any recommendations to holdere withrespect thereto.
The complete terms and conditionzs of the exchange offer are set forth in the respective Offers to Exchange and Letters of Transmittal that are being sent separatelty to holders of the Seriesw A Preferred Stock and Trus tPreferred Securities. Holders are urgefd to read the exchange offerdocuments carefully. D.F. King Co., Inc., the information agent at (800) 431-96332 or, for bankers and at (212) 269-5550 (Collect). The Exchange Agent for the exchangde offers is ComputershareTrust N.A., available at (781) 575-2332.
The Offer to Letter of Transmittal and other related documentz for the Series A Preferred Stocmk also will be filed with the Securities and ExchangseCommission ("SEC") on Schedulde TO and may be obtained for free at the SEC's . The offers to exchangd are being made in reliance upon the exemptio from the registration requirements of the Securities Act of asamended (the "Securities Act"), providedd by Section 3(a)(9) of the Securitiees Act. This press release is neither an offer to purchase nor a solicitatiob to buy any shares of the Series A PreferrefStock and/or Trust Preferredx Securities, nor is it a solicitation for acceptance of the respectiver exchange offers.
KeyCorp is making the respective exchang e offersonly by, and pursuantg to the terms of, the respectivs Offers to Exchange and the related Letters of Transmittal. The respective exchange offerxs are not being made in any jurisdiction in which the makingy or acceptance thereof would not be in compliance withthe securities, blue sky or other laws of such None of KeyCorp or its affiliates, the trustees of the Capita l Trusts, the exchange agent, the information agent, the financial advisors or the capital advisor is makin g any recommendation as to whether or not holders should tender their shares of Seriez A Preferred Stock and/or Trust Preferredc Securities in connection with the respectivse exchange offers.
Cleveland-based KeyCorp is one of the nation'sd largest bank-based financial services with assets ofapproximately $97 BusinessWeek Magazine named Key the top bank in its Customer Services Champ 2009 edition, ranking Key 11th out of the top-254 companies that include many known for theifr customer service acumen. Key companies provide investment management, retail and commercial consumer finance, and investmen banking products and services to individuales and companies throughout the UnitedStates and, for certain businesses, For more information, visit . You may obtain thesde documents bycontacting KeyCorp, Investor Relations, at (216) 689-4221 or by emaio at .
This Press Release contains forward-looking statementzs within the meaning of the Privatew Securities Litigation Reform Actof 1995, including statements abouft our financial condition, results of operations, assetr quality trends and profitability. Forward-looking statements are not historical factss but instead representonly management's current expectations and forecasts regarding future events, many of by their nature, are inherently uncertai and outside of KeyCorp's control. KeyCorp'ws actual results and financial condition may possibly materially, from the anticipated results and financial conditiobn indicated in these forward-looking statements.
Factors that may cause actual results to differ materially include, among other (1) adverse capital markets conditionsx and the inability to raisr equity and other funding in the capital (2) further downgrades in our credit (3) unprecedented volatility in the stock markets, publicf debt markets and other capital markets, includingb continued disruption in the fixed income markets;(4) changesz in interest rates; (5) changes in monetary or fiscal policy; (6) assett price deterioration has had (and may continu e to have) a negative effect on the valuatio n of certain asset categories represente d on KeyCorp's balance sheet; (7) continuation of the receng deterioration in general economic or in the condition of the local economiese or industries in whichb we have significant operations or which could, among other materially impact credit quality trends and our ability to generate loans; (8) continued disruption in the housin markets and related conditions in the financial (9) increased competitive pressure among financial services companiesd due to the recent consolidatioh of competing financial institutions and the conversion of certain investment bankss to bank holding companies; (10) heightenedf legal standards and regulatory practices, requirements or expectations; (11) the inabilityt to successfully execute strategic initiatives designed to grow revenuee and/or manage expenses; (12) increaserd FDIC deposit insurance premiums; (13) difficult y in attracting and/or retaining key executivew and/or relationship managers; (14) consummation of significanr business combinations or divestitures; (15) operational or risk management failures due to technological or othet factors; (16) changes in accountinv or tax practices or requirements; (17) new lega obligations or liabilities or unfavorable resolutionj of litigation; and (18) disruption in the economy and generap business climate as a result of terroristg activities or military actions.
For additional informatiohn on KeyCorp and the factors that coulfcause KeyCorp's actual results or financial condition to diffef materially from those described in the forward-looking statements consult KeyCorp's Annual Report on Form 10-K for the year endedr December 31, 2008, and subsequentr filings with the Securities and Exchange Commission available on the Securitieas and Exchange Commission's website ( ). Forward-looking statementds are not guarantees of futurew performance and should not be relied upon asrepresenting management' views as of any subsequent We do not assume any obligation to update thesw forward-looking statements.
billion in Tier 1 common -- KeyCorp has generated $1.3 billion to approximately 70% of the government's requirement to date. June 3 /PRNewswire-FirstCall/ -- KeyCorp (NYSE: KEY) todayh commenced an offer to exchange common sharew of KeyCorp for any and all outstanding sharesof KeyCorp' 7.750% Non-Cumulative Perpetual Convertible Preferred Series A (the "Series A Exchange Offer"), and a separatse offer to exchange commonb shares of KeyCorp for any and all Trusft Preferred Securities of KeyCorp Capital I, KeyCor Capital II, KeyCorp Capital III and KeyCorp Capitalk VII (the "Trust Preferred Exchange Offer").
Combined with the capital generation actions that have been executed sinceMay 7, 2009, when the resultas of the government's stress test were announced, successfulp completion of these actions will strengthen KeyCorp's capital frameworko by improving its Tier 1 common equity ratio, and also reduce the dividenx and interest expense associater with the securities exchanged, thereby increasing KeyCorp'w ability to generate capital internally. Thesr exchanges are principal componentsof KeyCorp's comprehensive capitall plan, which was submitted to the federal bankinyg regulators on June 1, pursuantt to the requirements of the Supervisory Capital Assessmenf Program of the U.S.
Treasury and the Boare of Governors of the Federal Reserve System. In connection with the Seriesz AExchange Offer, for each share of Series A Preferrecd Stock accepted in accordance with the term of the exchange offer, KeyCorlp will issue a number of its commoj shares that will be fixee according to an Exchange Ratio which will be determinefd at 4:30 p.m. New York City on the second trading day immediately preceding the expiration date ofthe offer. The offer is currentl y expected to expireon Tuesday, June 30, 2009 and the Exchangee Ratio would then be fixed at 4:30 p.m. New York City on June 26, 2009.
For each share of Series A Preferred Stocktendered (and not subsequentlyu withdrawn), KeyCorp will issue 7.0922 shares plus $35.0 divided by the daily volume-weighted average price of its commonn shares during the five consecutive trading days endingg on June 26, 2009 (the "Average VWAP"). The Averager VWAP and the total number of sharezs to be issued will be announcedf in a press release before the opening of NYSE tradinton Monday, June 29, 2009. This information also will be availablreat D.F. King & Co., the information agent.
In connection with the Trustg PreferredExchange Offer, for each Trust Preferred Security of KeyCorpo Capital I, KeyCorp Capital II, KeyCorp Capital III or KeyCorpo Capital VII (collectively, the "Capital accepted in accordance with the terms of the exchangse offer, KeyCorp will issue a number of its common sharesz that will be fixed accordinbg to an Exchange Ratio which will be determined at 4:30 p.m. New York City time on the secon d trading day immediately preceding the expiration date of the The offer is currently expected to expire on Tuesday, June 30, 2009, and the Exchange Ratio woulrd then be fixed at 4:30 p.m. New York City on June 26, 2009.
For each Trust Preferrer Security of KeyCorpCapital II, KeyCorp Capital III or KeyCorp Capital VII tendered on or priotr to 5:00 p.m., New York City time on Tuesday, June 16, 2009 (and not subsequentl y withdrawn), KeyCorp will issuwe a number of its commonn shares equal to the quotient of $850 divided by the Averagw VWAP. For each Trust Preferred Security of KeyCorpCapitap II, KeyCorp Capital III or KeyCorl Capital VII tendered after 5:00 New York City time on June 16, 2009 but prior to the expiration date of the offerf (and not subsequently withdrawn), KeyCorp will issue a number of its common shares equal to the quotienr of $800 divided by the Averagwe VWAP.
For each Trust Preferred Security of KeyCorp Capital I tenderec on or priorto 5:00 p.m., New York City time on June 16, 2009 (and not subsequentlg withdrawn), KeyCorp will issue a number of its commonm shares equal to the quotient of $750 dividedx by the Average VWAP. For each Trust Preferred Securithy of KeyCorp Capital I tenderesdafter 5:00 p.m., New York City time on Tuesday, June 16, 2009 but priorf to the expiration date of the offerf (and not subsequently withdrawn), KeyCorp will issue a number of its common shares equal to the quotient of $700 divideed by the Average VWAP.
The Average VWAP and the total number of shares to be issued will be announced in a presse release before the opening of NYSE tradinggon Monday, June 29, 2009. This informatiobn also will be availablweat D.F. King & Co., Inc., the informatiomn agent. The Series A Exchanger Offer and the Trust Preferred Securitied Exchange Offer and Consent Solicitation will each expirsat 11:59 p.m. New York City time, on Tuesday, June 30, unless extended or earliefr terminatedby KeyCorp. Securities that are tendered into eithe r offer may be withdrawn at any time priore tothis date.
To receive the consideratioj in either the Series A Exchangee Offer or the Trust Preferred SecuritieaExchange Offer, holders must validly tender and not withdraq their securities prior to the expiration date. KeyCorp will deliver the consideration promptly after theexpiration date. The consummation of the Series A Exchange Offer is not conditioned on the consummatio of the Trust Preferrer Securities Exchange Offer orvice versa. J.P. Morgan Securities Inc. is actintg as KeyCorp's sole financial advisor in connectionj with the Series AExchange J.P. Morgan Securities Inc.
and Morgan Stanley are actingbas KeyCorp's joint financial advisors in connection with the Trus Preferred Securities Exchange Offer. In addition, Morgah Stanley is KeyCorp's capital advisord on all of its capitall execution plans related tothe U.S. Government's Supervisoryh Capital Assessment Program. The advisorse have not been retained to, and will not, solicity acceptances of the exchange offersw or make any recommendations to holdere withrespect thereto.
The complete terms and conditionzs of the exchange offer are set forth in the respective Offers to Exchange and Letters of Transmittal that are being sent separatelty to holders of the Seriesw A Preferred Stock and Trus tPreferred Securities. Holders are urgefd to read the exchange offerdocuments carefully. D.F. King Co., Inc., the information agent at (800) 431-96332 or, for bankers and at (212) 269-5550 (Collect). The Exchange Agent for the exchangde offers is ComputershareTrust N.A., available at (781) 575-2332.
The Offer to Letter of Transmittal and other related documentz for the Series A Preferred Stocmk also will be filed with the Securities and ExchangseCommission ("SEC") on Schedulde TO and may be obtained for free at the SEC's . The offers to exchangd are being made in reliance upon the exemptio from the registration requirements of the Securities Act of asamended (the "Securities Act"), providedd by Section 3(a)(9) of the Securitiees Act. This press release is neither an offer to purchase nor a solicitatiob to buy any shares of the Series A PreferrefStock and/or Trust Preferredx Securities, nor is it a solicitation for acceptance of the respectiver exchange offers.
KeyCorp is making the respective exchang e offersonly by, and pursuantg to the terms of, the respectivs Offers to Exchange and the related Letters of Transmittal. The respective exchange offerxs are not being made in any jurisdiction in which the makingy or acceptance thereof would not be in compliance withthe securities, blue sky or other laws of such None of KeyCorp or its affiliates, the trustees of the Capita l Trusts, the exchange agent, the information agent, the financial advisors or the capital advisor is makin g any recommendation as to whether or not holders should tender their shares of Seriez A Preferred Stock and/or Trust Preferredc Securities in connection with the respectivse exchange offers.
Cleveland-based KeyCorp is one of the nation'sd largest bank-based financial services with assets ofapproximately $97 BusinessWeek Magazine named Key the top bank in its Customer Services Champ 2009 edition, ranking Key 11th out of the top-254 companies that include many known for theifr customer service acumen. Key companies provide investment management, retail and commercial consumer finance, and investmen banking products and services to individuales and companies throughout the UnitedStates and, for certain businesses, For more information, visit . You may obtain thesde documents bycontacting KeyCorp, Investor Relations, at (216) 689-4221 or by emaio at .
This Press Release contains forward-looking statementzs within the meaning of the Privatew Securities Litigation Reform Actof 1995, including statements abouft our financial condition, results of operations, assetr quality trends and profitability. Forward-looking statements are not historical factss but instead representonly management's current expectations and forecasts regarding future events, many of by their nature, are inherently uncertai and outside of KeyCorp's control. KeyCorp'ws actual results and financial condition may possibly materially, from the anticipated results and financial conditiobn indicated in these forward-looking statements.
Factors that may cause actual results to differ materially include, among other (1) adverse capital markets conditionsx and the inability to raisr equity and other funding in the capital (2) further downgrades in our credit (3) unprecedented volatility in the stock markets, publicf debt markets and other capital markets, includingb continued disruption in the fixed income markets;(4) changesz in interest rates; (5) changes in monetary or fiscal policy; (6) assett price deterioration has had (and may continu e to have) a negative effect on the valuatio n of certain asset categories represente d on KeyCorp's balance sheet; (7) continuation of the receng deterioration in general economic or in the condition of the local economiese or industries in whichb we have significant operations or which could, among other materially impact credit quality trends and our ability to generate loans; (8) continued disruption in the housin markets and related conditions in the financial (9) increased competitive pressure among financial services companiesd due to the recent consolidatioh of competing financial institutions and the conversion of certain investment bankss to bank holding companies; (10) heightenedf legal standards and regulatory practices, requirements or expectations; (11) the inabilityt to successfully execute strategic initiatives designed to grow revenuee and/or manage expenses; (12) increaserd FDIC deposit insurance premiums; (13) difficult y in attracting and/or retaining key executivew and/or relationship managers; (14) consummation of significanr business combinations or divestitures; (15) operational or risk management failures due to technological or othet factors; (16) changes in accountinv or tax practices or requirements; (17) new lega obligations or liabilities or unfavorable resolutionj of litigation; and (18) disruption in the economy and generap business climate as a result of terroristg activities or military actions.
For additional informatiohn on KeyCorp and the factors that coulfcause KeyCorp's actual results or financial condition to diffef materially from those described in the forward-looking statements consult KeyCorp's Annual Report on Form 10-K for the year endedr December 31, 2008, and subsequentr filings with the Securities and Exchange Commission available on the Securitieas and Exchange Commission's website ( ). Forward-looking statementds are not guarantees of futurew performance and should not be relied upon asrepresenting management' views as of any subsequent We do not assume any obligation to update thesw forward-looking statements.
Friday, February 25, 2011
BLM seeks comment on use of public land for large solar-energy projects - San Francisco Business Times:
firukendu-anchored.blogspot.com
The land management agency that 24 largee tracts of federal land in the West includingnearly 21,000 acres in Colorado’ s San Luis Valley — would be studied for thei r solar power potential. Other statexs involved are California, Nevada, Arizona, Utah and New The goal is to spee d project permittingfor utility-scale soladr power projects. The 24 tracts — known as Solatr Energy Study Areas, totaling 670,000 acres — will be evaluated for theidr environmental and resource suitabilityfor large-scale solae energy production.
In Colorado, the three arease in the San Luis Vallet that will be part of the studyt could generate upto 4,182w megawatts of solar power if fully developed, according to the , which oversee BLM. Areas deemed suitable for largs solar power projects would be available for companie to build installations with a capacityh of 10 megawattsor more. Companies proposing projects in theses areas would be eligible for fasterrpermit processing, the department The land in the Solart Energy Study Areas will be looked at as part of an existingt solar-power environmental impact study the departmenft is conducting in six Western states.
An in-deptu environmental review is being paid for with moneyh from the American Reinvestment andRecovery Act, the announcement said. BLM said last monthg it has received 158 applications for solare power projects on federao lands inthe West. In Colorado, BLM is seekingh comment on potential solar developmen of lands in the DeTillsa Gulch, Los Mogotes East, Antonito and Fourmile East areas of southern Colorado. BLM manages 256 million acres of federalpublix land, including more than 8 million in Colorado. in PDF The public comment period endsJuly 30.
The land management agency that 24 largee tracts of federal land in the West includingnearly 21,000 acres in Colorado’ s San Luis Valley — would be studied for thei r solar power potential. Other statexs involved are California, Nevada, Arizona, Utah and New The goal is to spee d project permittingfor utility-scale soladr power projects. The 24 tracts — known as Solatr Energy Study Areas, totaling 670,000 acres — will be evaluated for theidr environmental and resource suitabilityfor large-scale solae energy production.
In Colorado, the three arease in the San Luis Vallet that will be part of the studyt could generate upto 4,182w megawatts of solar power if fully developed, according to the , which oversee BLM. Areas deemed suitable for largs solar power projects would be available for companie to build installations with a capacityh of 10 megawattsor more. Companies proposing projects in theses areas would be eligible for fasterrpermit processing, the department The land in the Solart Energy Study Areas will be looked at as part of an existingt solar-power environmental impact study the departmenft is conducting in six Western states.
An in-deptu environmental review is being paid for with moneyh from the American Reinvestment andRecovery Act, the announcement said. BLM said last monthg it has received 158 applications for solare power projects on federao lands inthe West. In Colorado, BLM is seekingh comment on potential solar developmen of lands in the DeTillsa Gulch, Los Mogotes East, Antonito and Fourmile East areas of southern Colorado. BLM manages 256 million acres of federalpublix land, including more than 8 million in Colorado. in PDF The public comment period endsJuly 30.
Wednesday, February 23, 2011
Deloitte: Consumer spending rose in June - Triangle Business Journal:
http://aircuz.org/windsorpark.php
The index rose to 1.83 percenyt from an upwardly revised gainof 1.4 percent in May. Deloitt said its index analyzes tax initialunemployment claims, real wagesz and real home prices to try to track consumer cash flow as an indicatod of future consumer spending. "The pace of decline in real consumer spending appears to be saidIra Kalish, director of global economics and consumet business with and author of the monthly "High savings rates and unemployment accompaniedd by a weak housing markert have weighed on consumer spending for but trends are starting to point in a different For example, the rate of declinew in housing prices begamn to decelerate and, in June, real home pricesd finally rose from the previous month.
" The indexz also reported the tax burden continuedr to drop with the weakening of the economy and with tax cuts embedded in the stimulus plan takinv effect. First-time unemployment claims remai n at a historicallyhigh level, the inded said, but the job markety may be bottoming out. Real wages have flattenex over the past several monthsd due in large part to weakness in thejob However, on a year-over-yeae basis, real wages are rising at an accelerating rate, in part due to The decline in real home prices also appears to be the index noted.
Lower prices and low interesr rates have encouraged a renewal in homebuyintg which, over time, will likely lead to stabilization of However, recent increases in long-term ratea could have a negative impactt on the housing market.
The index rose to 1.83 percenyt from an upwardly revised gainof 1.4 percent in May. Deloitt said its index analyzes tax initialunemployment claims, real wagesz and real home prices to try to track consumer cash flow as an indicatod of future consumer spending. "The pace of decline in real consumer spending appears to be saidIra Kalish, director of global economics and consumet business with and author of the monthly "High savings rates and unemployment accompaniedd by a weak housing markert have weighed on consumer spending for but trends are starting to point in a different For example, the rate of declinew in housing prices begamn to decelerate and, in June, real home pricesd finally rose from the previous month.
" The indexz also reported the tax burden continuedr to drop with the weakening of the economy and with tax cuts embedded in the stimulus plan takinv effect. First-time unemployment claims remai n at a historicallyhigh level, the inded said, but the job markety may be bottoming out. Real wages have flattenex over the past several monthsd due in large part to weakness in thejob However, on a year-over-yeae basis, real wages are rising at an accelerating rate, in part due to The decline in real home prices also appears to be the index noted.
Lower prices and low interesr rates have encouraged a renewal in homebuyintg which, over time, will likely lead to stabilization of However, recent increases in long-term ratea could have a negative impactt on the housing market.
Sunday, February 20, 2011
Stalking victim in TV series this week - Cherry Hill Courier Post
rubber roofing
Stalking victim in TV series this week Cherry Hill Courier Post NEPTUNE รข€" Karen Welch says the stalking began with a 1 am phone c » |
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