| IT Services Consolidation Shows No Sign of Slowing in Q2
The number of mergers and acquisitions in the IT services space during the second quarter of 2007 was up by 23% on the same period of the previous year, as the rate of consolidation showed no sign of slowing. In the three months to the end of June, ComputerWire tracked a total of 102 M&As involving IT services vendors, up from 83 in the second quarter of 2006. In total, the first half of 2007 has seen a massive 192 deals announced, up 19% on the first six months of last year. The two biggest deals of the quarter both involved private equity firms buying credit card processing companies. In April, First Data agreed to a buyout by Kohlberg Kravis Roberts valued at $29bn. Then, one month later, Alliance Data Systems was acquired by Blackstone Group in a $7.8bn agreement, representing roughly a 30% premium on Alliance's share price.
New grads confronted by dizzying loan options
Karen Wons of Maryland finds herself in a quandary that is confronting many parents right now. She is struggling with how best to advise her daughter -- a recent college graduate -- on paying down $25,000 in student loans. Wons did what any wise parent would do. .
Promise Offers $1 Billion for Lender Sanyo Shinpan (Update3)
July 26 (Bloomberg) -- Promise Co. offered to buy rival Sanyo Shinpan Finance Co. for as much as 120 billion yen ($1 billion) in cash to create Japan's largest consumer lender after the government capped interest rates to protect borrowers. Promise offered 3,623 yen a share for the 75 percent of Sanyo Shinpan's stock traded on the market, it said in a statement to the Tokyo Exchange. It agreed to buy the remainder of Sanyo Shinpan from the family of Chairman Masakazu Shiiki for an undisclosed price. Sanyo shares closed today at 3,650 yen. The takeover will create a lender with more than 2 trillion yen of outstanding loans and may trigger more mergers in an industry racked by mounting claims for interest refunds. Promise and rivals in Japan's $170 billion consumer credit market have seen profits evaporate after the government and courts cracked down on excessive interest charges.
Zoya Professional Nail Lacquer Presents 2 New Collections, Uptown and Downtown, for 1 Gorgeous Fall
Zoya professional nail lacquer presents two new collections for Fall 2007 - Uptown and Downtown. Make a style statement: choose Uptown containing 6 updated, stylish berries or Downtown with it's 6 urban, electric shades, including this years hot hues, gunmetal gray (Freja) and eggplant (Lael). All in the world's best selling, healthy, natural nail Zoya formula. Cleveland, OH (PRWEB) August 8, 2007 -- Zoya professional nail lacquer presents two new collections for Fall 2007 - Uptown and Downtown. Make a style statement: choose Uptown containing 6 updated, stylish berries or Downtown with it's 6 urban, electric shades, including this years hot hues, gunmetal gray (Freja) and eggplant (Lael). All in the world's best selling, healthy, natural nail Zoya formula. "Whatever the fashion vibe this Fall, Zoya has the healthy color nail look to suit it with it's new Uptown and Downtown collections".
Credit unions offer great rates, service
Consumers have a plethora of borrowing and saving options, from traditional banks to online-only banks to credit unions and investment brokerages.
And while Internet-only banks can offer the most competitive rates for saving and borrowing, credit unions offer a mix of favorable rates and personal service. They're often a good alternative to traditional banks, which still dominate the market.
Credit unions are affiliated groups of people who pool their money and lend it to each other. They don't have divided loyalties--trying to serve a customer at the same time as boosting profits and the stock price for shareholders.
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Student loan options are baffling to family
Karen Wons of Maryland finds herself in a quandary that is confronting many parents right now. She is struggling with how best to advise her daughter -- a recent college graduate -- on paying down her $25,000 in student loans. Wons did what any wise parent would do. She asked for help. Wons's daughter works as a project manager at a medical software company. She has an annual salary of more than $50,000. Her employer provides a 401(k). She has about $13,000 in cash from recently redeemed Series EE savings bonds. She has no credit card debt. She has no payments on a reliable car with low mileage. She's sharing an apartment and other living expenses with an older sister in Madison, Wis. Her portion of the rent is a little more than $500 a month. Wons is unsure about the course her daughter should take: Should the daughter consolidate her college loans during her six-month grace period? (She has federally backed Stafford and Perkins loans.) Should she use the entire $13,000 to pay down the loans or keep making monthly payments to take advantage of the interest deduction? Should she invest all of the $13,000? While paying on the loans, should she contribute to her 401(k)? Let's take the consolidation question first.
Paul Galeski
Despite the stress, the chase for money and the challenges of starting a second company, several serial information-technology entrepreneurs say theyd do it again.
In 1990, Paul Galeski started Magnum Technologies, a factory automation software firm, with $6,000, two employees and a small office in Belleville, Ill. Like a lot of entrepreneurs, he poured his heart and soul into the company.
It expanded quickly, making the Inc. 500 list of fastest growing U.S. companies. Then, in 1997, it caught the eye of General Electric Co.
GE offered to buy Magnum and wanted Galeski to stay on to help run it. Making the decision to sell was brutal, Galeski recalls.
You raise this thing from a pup and grow it into a pretty substantial business, he says from his office at Maverick Technologies in Columbia, Ill.
(AFX UK Focus) 2007-08-02 09:30 GMT: TFN NEWS BRIEFING: Banking and insurance highlights to 09:15 BST
2007-08-02 08:31:40 News Corp revives Sky Italia IPO plan - report MILAN (Thomson Financial) - News Corp has revived the idea of listing its satellite pay-TV unit Sky Italia on the Milan bourse, in an operation which could value the company at 3.3 bln eur, the Il Sole 24 Ore daily said in an unsourced report. 2007-08-02 08:28:51 Deutsche Boerse July turnover up 105 pct yr-on-yr to 237.4 bln eur FRANKFURT (Thomson Financial) - Deutsche Boerse AG said turnover on both its Xetra trading platform and on its trading floor in July was 237.4 bln eur, representing a 105 pct increase from the same period last year. 2007-08-02 07:57:13 Taiwan's KGI Securities ratings affirmed on improved revenue diversity - Fitch MUMBAI (Thomson Financial) - Fitch Ratings said it has affirmed Taiwan's KGI Securities Co Ltd's ratings with a stable outlook reflecting KGI's improved revenue diversity by products and geography, operational efficiency in brokerage, relatively sophisticated risk management, and adequate liquidity and capitalisation.
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