| 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.
Report: University of Nevada, Reno alumni group paid by loan firm
RENO, Nev. (AP) - The alumni association at the University of Nevada, Reno received money from a student loan consolidation company in exchange for names of alumni and exclusive rights to UNR's logo in promotional material, the Las Vegas Review-Journal reported. Over the past four years, UNR's alumni association received $88,400 from Nelnet Inc., the nation's second-largest student loan consolidation company, according to the New York Attorney General's Office, which has been investigating ties between student loan lenders, universities and administrators. On Wednesday, New York Attorney General Andrew Cuomo announced an expansion of the probe to include whether top college athletic departments steered athletes and other students to loan companies in exchange for kickbacks. No Nevada schools were among 39 nationwide served with subpoenas and requests for documents in that aspect.
College graduate should pay down her student loans
Karen Wons of Maryland finds herself in a quandary that is confronting many parents.
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.
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Suthers backs state's colleges in wrangle
The Colorado attorney general's office on Thursday called probes into agreements between student-loan consolidation companies and state universities nothing more than a "fishing expedition" by the New York attorney general. "If the New York attorney general has some evidence that something illegal has occurred, he certainly hasn't shared that with our office," said Nate Strauch, spokesman for Colorado Attorney General John Suthers. "We have no reason to believe that any wrongdoing has occurred." Officials with Colorado State University and the alumni foundations at CSU and the University of Colorado at Boulder say they have not violated the law. This week, New York officials announced an agreement with the student loan company Nelnet, which had relationships with the CSU and CU-Boulder alumni associations.
Schools' common ground: Collaboration not consolidation
Pennfield Schools Superintendent Dale Kimball, providing a tour of the district's new $23 million high school last month, opened the door to the workout facility when his cell phone started chirping. "Hey, Cindy," Kimball said. "Yeah, come on down, we'll be here." .
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. .
A Single Global Currency
Since Europe enacted the euro as its common currency, there has been increased discussion about whether or not the world would benefit from a single global currency. At this point, the proponents seem to have a substantial edge; but like anything else, there are proponents and there are detractors. The Book: The Single Global Currency I just got through reading this interesting book by Morrison Bonpasse, who is the president of the Single Global Currency Association. It was an eye-opener. Additionally, I must say that Mr. Bonpasse recently invited me to serve on the association's international board of directors. Because I have both spoken and written about the pros and cons of currency consolidation and I find the topic fascinating, I was happy to accept the appointment.
Health insurance, credit on minds of many young adults
The glow of high school graduation parties in June is starting to fade, and with it comes the realization new, real-world challenges await as students either head off to college or begin their lives in the world of work. And a big part of that reality is financial, with the lure of quick credit and having to leave parents' health insurance plans create a quick monetary dilemma for many. .
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