Dominion Lending Centres Clearlease Reports FDIC to shed Sheila Bair after 5 years.
VANCOUVER, BC – (May 9, 2011) Clearlease Reports Sheila Bair is stepping down as chairman of the Federal Deposit Insurance Corp. this summer, ending a five-year term in which she helped craft the government’s response to the 2008 financial crisis.
The FDIC said Monday May 9, 2011, Bair will leave her post as one of the government’s top bank regulators on July 8.
Bair was among the first officials to raise concerns about the explosion in high-risk lending to borrowers with bad credit. Under her tenure, the agency closed more than 350 banks since the crisis peaked in late 2008.
The FDIC is charged with maintaining public confidence in the banking system. The agency guarantees bank deposits up to $250,000.
The FDIC says Bair will chair a final board meeting during the first week of July.
Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers.
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
VANCOUVER, BC – (May 9, 2011) Clearlease Reports Sheila Bair is stepping down as chairman of the Federal Deposit Insurance Corp. this summer, ending a five-year term in which she helped craft the government’s response to the 2008 financial crisis.
The FDIC said Monday May 9, 2011, Bair will leave her post as one of the government’s top bank regulators on July 8.
Bair was among the first officials to raise concerns about the explosion in high-risk lending to borrowers with bad credit. Under her tenure, the agency closed more than 350 banks since the crisis peaked in late 2008.
The FDIC is charged with maintaining public confidence in the banking system. The agency guarantees bank deposits up to $250,000.
The FDIC says Bair will chair a final board meeting during the first week of July.
Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers.
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
Dominion Lending Centres Clearlease Reports FDIC to shed Sheila Bair after 5 years.
VANCOUVER, BC – (May 9, 2011) Clearlease Reports Sheila Bair is stepping down as chairman of the Federal Deposit Insurance Corp. this summer, ending a five-year term in which she helped craft the government’s response to the 2008 financial crisis.
The FDIC said Monday May 9, 2011, Bair will leave her post as one of the government’s top bank regulators on July 8.
Bair was among the first officials to raise concerns about the explosion in high-risk lending to borrowers with bad credit. Under her tenure, the agency closed more than 350 banks since the crisis peaked in late 2008.
The FDIC is charged with maintaining public confidence in the banking system. The agency guarantees bank deposits up to $250,000.
The FDIC says Bair will chair a final board meeting during the first week of July.
Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers.
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
VANCOUVER, BC – (May 9, 2011) Clearlease Reports Solvista Gold Corporation announced a non-brokered private placement to raise gross proceeds of CDN$2,735,297 through the issuance of 3,647,063 units (each, a “Unit”) at a price of CDN$0.75 per Unit. Each Unit will consist of one common share and one half of one common share purchase warrant. Each Warrant will entitle the holder to acquire an additional common share at a price of CDN$1.10 for a period of 24 months following the date of issuance of the Warrants.
The Financing is expected to be completed prior to the commencement of trading of the common shares of Solvista on the TSX Venture Exchange and, updating its press release dated April 27, 2011, Solvista expects its common shares to commence trading on the TSX-V upon completion of the Financing, which is expected to be completed prior to May 13, 2011. Solvista will disclose the date that the shares will commence trading when such date is determined.
Kinross Gold Corporation (TSX:K)(NYSE:KGC) agreed to purchase all 3,647,063 Units, which shall represent approximately 9.9% of Solvista’s issued and outstanding share capital on a partially diluted basis. Solvista has also agreed to grant Kinross the right to maintain its percentage ownership during future financings for a period of two years following completion of the Financing.
Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers.
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
VANCOUVER, BC – (May 9, 2011) Clearlease Reports Solvista Gold Corporation announced a non-brokered private placement to raise gross proceeds of CDN$2,735,297 through the issuance of 3,647,063 units (each, a “Unit”) at a price of CDN$0.75 per Unit. Each Unit will consist of one common share and one half of one common share purchase warrant. Each Warrant will entitle the holder to acquire an additional common share at a price of CDN$1.10 for a period of 24 months following the date of issuance of the Warrants.
The Financing is expected to be completed prior to the commencement of trading of the common shares of Solvista on the TSX Venture Exchange and, updating its press release dated April 27, 2011, Solvista expects its common shares to commence trading on the TSX-V upon completion of the Financing, which is expected to be completed prior to May 13, 2011. Solvista will disclose the date that the shares will commence trading when such date is determined.
Kinross Gold Corporation (TSX:K)(NYSE:KGC) agreed to purchase all 3,647,063 Units, which shall represent approximately 9.9% of Solvista’s issued and outstanding share capital on a partially diluted basis. Solvista has also agreed to grant Kinross the right to maintain its percentage ownership during future financings for a period of two years following completion of the Financing.
Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers.
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
VANCOUVER, BC – (May 9, 2011) Clearlease Reports Solvista Gold Corporation announced a non-brokered private placement to raise gross proceeds of CDN$2,735,297 through the issuance of 3,647,063 units (each, a “Unit”) at a price of CDN$0.75 per Unit. Each Unit will consist of one common share and one half of one common share purchase warrant. Each Warrant will entitle the holder to acquire an additional common share at a price of CDN$1.10 for a period of 24 months following the date of issuance of the Warrants.
The Financing is expected to be completed prior to the commencement of trading of the common shares of Solvista on the TSX Venture Exchange and, updating its press release dated April 27, 2011, Solvista expects its common shares to commence trading on the TSX-V upon completion of the Financing, which is expected to be completed prior to May 13, 2011. Solvista will disclose the date that the shares will commence trading when such date is determined.
Kinross Gold Corporation (TSX:K)(NYSE:KGC) agreed to purchase all 3,647,063 Units, which shall represent approximately 9.9% of Solvista’s issued and outstanding share capital on a partially diluted basis. Solvista has also agreed to grant Kinross the right to maintain its percentage ownership during future financings for a period of two years following completion of the Financing.
Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers.
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
Dominion Lending Centres Clearlease Reports Feronia Inc. (TSXV:FRN) gets West African order for oil palm seeds
VANCOUVER, BC – (May 9, 2011) Clearlease Reports Feronia Inc. (TSXV:FRN), a Toronto-based company that operates in central Africa, said Monday May 9, 2011, it has received an order for 756,000 oil palm seeds from a West African company.
The contract is the largest individual seed order received by the company to date, Feronia said Monday.
Financial terms of the contract were not revealed.
Feronia, which trades on the TSX Venture Exchange, is a large-scale commercial farmland and plantation operator in the Democratic Republic of the Congo.
Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers.
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
VANCOUVER, BC – (May 9, 2011) Clearlease Reports Feronia Inc. (TSXV:FRN), a Toronto-based company that operates in central Africa, said Monday May 9, 2011, it has received an order for 756,000 oil palm seeds from a West African company.
The contract is the largest individual seed order received by the company to date, Feronia said Monday.
Financial terms of the contract were not revealed.
Feronia, which trades on the TSX Venture Exchange, is a large-scale commercial farmland and plantation operator in the Democratic Republic of the Congo.
Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers.
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
Dominion Lending Centres Clearlease Reports Feronia Inc. (TSXV:FRN) gets West African order for oil palm seeds
VANCOUVER, BC – (May 9, 2011) Clearlease Reports Feronia Inc. (TSXV:FRN), a Toronto-based company that operates in central Africa, said Monday May 9, 2011, it has received an order for 756,000 oil palm seeds from a West African company.
The contract is the largest individual seed order received by the company to date, Feronia said Monday.
Financial terms of the contract were not revealed.
Feronia, which trades on the TSX Venture Exchange, is a large-scale commercial farmland and plantation operator in the Democratic Republic of the Congo.
Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers.
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
Dominion Lending Centres Clearlease Reports European Markets Decline Monday
VANCOUVER, BC – (May 9, 2011) Clearlease Reports the European markets are declining in afternoon trading Monday, with the major averages in the region moving moderately to notably lower, as sentiment continued to be impacted by Greek debt worries and mixed earnings news. Investors ignored largely positive cues from Asia, as risk-appetite waned.
The Euro Stoxx 50 index of eurozone blue chippers is losing 1.40 percent, while the Stoxx Europe 50 index, which includes some major U.K. companies, is sliding 0.62 percent.
The German DAX is declining 1.02 percent and the French CAC 40 is falling 0.86 percent. The UK’s FTSE 100 and Switzerland’s SMI are losing 0.59 percent and 0.60 percent, respectively.
In Frankfurt, carmaker Volkswagen is dropping 1.6 percent. BMW and Daimler are moderately lower. MAN is gaining 0.28 percent.
Commerzbank is down 1.1 percent, while Deutsche Bank is gaining 0.5 percent. Nomura lowered its price target on Commerzbank to 4.50 euros from 4.90 euros.
Steel giant ThyssenKrupp is rising 2.9 percent, followed by chemicals firm K+S, which is adding 2.1 percent.
Technology stocks SAP and Infineon technologies are rising 2.1 percent and 1.6 percent, respectively.
Deutsche Telekom is up 0.17 percent. Goldman Sachs raised its price target on the stock to 11.30 euros from 10.90 euros.
In Paris, lenders Credit Agricole, Societe Generale, BNP Paribas and Natixis are losing between 2.3 percent and 1.9 percent.
Carmakers Renault and Peugeot are lower by 1.7 percent and 1 percent, respectively.
Alcatel Lucent is rising 2.9 percent. Nomura raised its price target on the stock to 3.90 euros from 3.20 euros.
STMicroelectronics is adding 1.5 percent, despite ING lowering its price target on the stock to 9.70 euros from 11 euros.
In London, Utility Centrica is declining 3.9 percent after issuing a trading update. Royal Bank of Scotland, Barclays, HSBC Holdings and Lloyds Banking Group are declining between 1.8 percent and 0.9 percent. HSBC reported a growth in first-quarter profit, and said it took a $440 million provision related to the payment protection insurance.
Lonmin is up 1.3 percent after stating that its profit in the first half of the year increased significantly from last year. Inmarsat is surging 4.2 percent after reporting higher first-quarter revenues.
In economic news, the Sentix investor sentiment index, an indicator of confidence around 900 investors in the eurozone, fell to 10.9 in May from 14.2 in April. The current situation index slipped to 23.75 during the month from 25.5 in the previous month.
Meanwhile, French business confidence dropped to 107 in April from 110 in March, survey results from the Bank of France revealed. Economists had expected it to remain unchanged at 110 in April.
British house prices dipped 1.4 percent on a monthly comparison in April, after remaining flat in March, data from the Lloyds Banking Group Plc’s Halifax division showed. Prices in April were 3.7 percent lower than a year ago as measured by the average for the three months to March against the same period a year earlier. This was the largest annual decrease since October 2009.
Across Asia/Pacific, most major markets ended higher. Australia’s All Ordinaries added 0.32 percent, China’s Shanghai Composite Index gained 0.32 percent and Hong Kong’s Hang Seng rose 0.76 percent. However, Japan’s Nikkei 225 lost 0.66 percent.
In the U.S., futures point to a higher open on Wall Street. In the previous session, the Dow rose 0.4 percent, the Nasdaq advanced 0.5 percent and the S&P 500 climbed 0.4 percent.
Crude for June delivery is adding $3.02 to $100.20 and June gold is rising $15.8 to $1507.4 a troy ounce.
Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers.
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
VANCOUVER, BC – (May 9, 2011) Clearlease Reports the European markets are declining in afternoon trading Monday, with the major averages in the region moving moderately to notably lower, as sentiment continued to be impacted by Greek debt worries and mixed earnings news. Investors ignored largely positive cues from Asia, as risk-appetite waned.
The Euro Stoxx 50 index of eurozone blue chippers is losing 1.40 percent, while the Stoxx Europe 50 index, which includes some major U.K. companies, is sliding 0.62 percent.
The German DAX is declining 1.02 percent and the French CAC 40 is falling 0.86 percent. The UK’s FTSE 100 and Switzerland’s SMI are losing 0.59 percent and 0.60 percent, respectively.
In Frankfurt, carmaker Volkswagen is dropping 1.6 percent. BMW and Daimler are moderately lower. MAN is gaining 0.28 percent.
Commerzbank is down 1.1 percent, while Deutsche Bank is gaining 0.5 percent. Nomura lowered its price target on Commerzbank to 4.50 euros from 4.90 euros.
Steel giant ThyssenKrupp is rising 2.9 percent, followed by chemicals firm K+S, which is adding 2.1 percent.
Technology stocks SAP and Infineon technologies are rising 2.1 percent and 1.6 percent, respectively.
Deutsche Telekom is up 0.17 percent. Goldman Sachs raised its price target on the stock to 11.30 euros from 10.90 euros.
In Paris, lenders Credit Agricole, Societe Generale, BNP Paribas and Natixis are losing between 2.3 percent and 1.9 percent.
Carmakers Renault and Peugeot are lower by 1.7 percent and 1 percent, respectively.
Alcatel Lucent is rising 2.9 percent. Nomura raised its price target on the stock to 3.90 euros from 3.20 euros.
STMicroelectronics is adding 1.5 percent, despite ING lowering its price target on the stock to 9.70 euros from 11 euros.
In London, Utility Centrica is declining 3.9 percent after issuing a trading update. Royal Bank of Scotland, Barclays, HSBC Holdings and Lloyds Banking Group are declining between 1.8 percent and 0.9 percent. HSBC reported a growth in first-quarter profit, and said it took a $440 million provision related to the payment protection insurance.
Lonmin is up 1.3 percent after stating that its profit in the first half of the year increased significantly from last year. Inmarsat is surging 4.2 percent after reporting higher first-quarter revenues.
In economic news, the Sentix investor sentiment index, an indicator of confidence around 900 investors in the eurozone, fell to 10.9 in May from 14.2 in April. The current situation index slipped to 23.75 during the month from 25.5 in the previous month.
Meanwhile, French business confidence dropped to 107 in April from 110 in March, survey results from the Bank of France revealed. Economists had expected it to remain unchanged at 110 in April.
British house prices dipped 1.4 percent on a monthly comparison in April, after remaining flat in March, data from the Lloyds Banking Group Plc’s Halifax division showed. Prices in April were 3.7 percent lower than a year ago as measured by the average for the three months to March against the same period a year earlier. This was the largest annual decrease since October 2009.
Across Asia/Pacific, most major markets ended higher. Australia’s All Ordinaries added 0.32 percent, China’s Shanghai Composite Index gained 0.32 percent and Hong Kong’s Hang Seng rose 0.76 percent. However, Japan’s Nikkei 225 lost 0.66 percent.
In the U.S., futures point to a higher open on Wall Street. In the previous session, the Dow rose 0.4 percent, the Nasdaq advanced 0.5 percent and the S&P 500 climbed 0.4 percent.
Crude for June delivery is adding $3.02 to $100.20 and June gold is rising $15.8 to $1507.4 a troy ounce.
Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers.
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
Dominion Lending Centres Clearlease Reports European Markets Decline Monday
VANCOUVER, BC – (May 9, 2011) Clearlease Reports the European markets are declining in afternoon trading Monday, with the major averages in the region moving moderately to notably lower, as sentiment continued to be impacted by Greek debt worries and mixed earnings news. Investors ignored largely positive cues from Asia, as risk-appetite waned.
The Euro Stoxx 50 index of eurozone blue chippers is losing 1.40 percent, while the Stoxx Europe 50 index, which includes some major U.K. companies, is sliding 0.62 percent.
The German DAX is declining 1.02 percent and the French CAC 40 is falling 0.86 percent. The UK’s FTSE 100 and Switzerland’s SMI are losing 0.59 percent and 0.60 percent, respectively.
In Frankfurt, carmaker Volkswagen is dropping 1.6 percent. BMW and Daimler are moderately lower. MAN is gaining 0.28 percent.
Commerzbank is down 1.1 percent, while Deutsche Bank is gaining 0.5 percent. Nomura lowered its price target on Commerzbank to 4.50 euros from 4.90 euros.
Steel giant ThyssenKrupp is rising 2.9 percent, followed by chemicals firm K+S, which is adding 2.1 percent.
Technology stocks SAP and Infineon technologies are rising 2.1 percent and 1.6 percent, respectively.
Deutsche Telekom is up 0.17 percent. Goldman Sachs raised its price target on the stock to 11.30 euros from 10.90 euros.
In Paris, lenders Credit Agricole, Societe Generale, BNP Paribas and Natixis are losing between 2.3 percent and 1.9 percent.
Carmakers Renault and Peugeot are lower by 1.7 percent and 1 percent, respectively.
Alcatel Lucent is rising 2.9 percent. Nomura raised its price target on the stock to 3.90 euros from 3.20 euros.
STMicroelectronics is adding 1.5 percent, despite ING lowering its price target on the stock to 9.70 euros from 11 euros.
In London, Utility Centrica is declining 3.9 percent after issuing a trading update. Royal Bank of Scotland, Barclays, HSBC Holdings and Lloyds Banking Group are declining between 1.8 percent and 0.9 percent. HSBC reported a growth in first-quarter profit, and said it took a $440 million provision related to the payment protection insurance.
Lonmin is up 1.3 percent after stating that its profit in the first half of the year increased significantly from last year. Inmarsat is surging 4.2 percent after reporting higher first-quarter revenues.
In economic news, the Sentix investor sentiment index, an indicator of confidence around 900 investors in the eurozone, fell to 10.9 in May from 14.2 in April. The current situation index slipped to 23.75 during the month from 25.5 in the previous month.
Meanwhile, French business confidence dropped to 107 in April from 110 in March, survey results from the Bank of France revealed. Economists had expected it to remain unchanged at 110 in April.
British house prices dipped 1.4 percent on a monthly comparison in April, after remaining flat in March, data from the Lloyds Banking Group Plc’s Halifax division showed. Prices in April were 3.7 percent lower than a year ago as measured by the average for the three months to March against the same period a year earlier. This was the largest annual decrease since October 2009.
Across Asia/Pacific, most major markets ended higher. Australia’s All Ordinaries added 0.32 percent, China’s Shanghai Composite Index gained 0.32 percent and Hong Kong’s Hang Seng rose 0.76 percent. However, Japan’s Nikkei 225 lost 0.66 percent.
In the U.S., futures point to a higher open on Wall Street. In the previous session, the Dow rose 0.4 percent, the Nasdaq advanced 0.5 percent and the S&P 500 climbed 0.4 percent.
Crude for June delivery is adding $3.02 to $100.20 and June gold is rising $15.8 to $1507.4 a troy ounce.
Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers.
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
Dominion Lending Centres Clearlease Reports Evolving Gold (TSX:EVG) and Agnico-Eagle (TSX:AEM) form joint venture on Wyoming project
VANCOUVER, BC – (May 9, 2011) Clearlease Reports Evolving Gold Corp. (TSX:EVG) says it has signed a deal with a subsidiary of Agnico-Eagle Mines Ltd. (TSX:AEM) to form a joint venture on its Rattlesnake Hills project in Wyoming. Evolving Gold shares were halted on the TSX pending news from the company.
Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers.
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
VANCOUVER, BC – (May 9, 2011) Clearlease Reports Evolving Gold Corp. (TSX:EVG) says it has signed a deal with a subsidiary of Agnico-Eagle Mines Ltd. (TSX:AEM) to form a joint venture on its Rattlesnake Hills project in Wyoming. Evolving Gold shares were halted on the TSX pending news from the company.
Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers.
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
Dominion Lending Centres Clearlease Reports Evolving Gold (TSX:EVG) and Agnico-Eagle (TSX:AEM) form joint venture on Wyoming project
VANCOUVER, BC – (May 9, 2011) Clearlease Reports Evolving Gold Corp. (TSX:EVG) says it has signed a deal with a subsidiary of Agnico-Eagle Mines Ltd. (TSX:AEM) to form a joint venture on its Rattlesnake Hills project in Wyoming. Evolving Gold shares were halted on the TSX pending news from the company.
Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers.
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
Dominion Lending Centres Clearlease Reports Ursa Major Minerals (TSX:UMJ) seeks strategic options for Toronto-based miner
VANCOUVER, BC – (May 9, 2011) Clearlease Reports Ursa Major Minerals Inc. (TSX:UMJ), a Toronto-based junior mineral explorer, says it has formed a special committee of the board to evaluate the strategic and financial alternatives available to the nickel company to boost shareholder value.
The move, announced Monday May 9, 2011, comes a few days after Inspiration Mining Corp., Ursa’s biggest shareholderr, said it will nominate alternate directors at Ursa annual and special meeting June 23.
Ursa said it has hired Raymond James Ltd. as its financial adviser to help the special committee in the process.
Ursa Major has two Ontario nickel mining projects —the Shakespeare Mine as well as nickel, copper and platinum group metal deposits.
On Friday, Inspiration Mining said it wants new directors on the Ursa board to help the company improve its oerations to boost its value.
“As the largest shareholder of Ursa Major, we continue to be concerned that after numerous attempts at engagement, the current board is not taking the necessary steps in order to maximize near term value for Ursa shareholders,” said Inspiration chairman Randy Miller.
“We are confident that a new slate will address operational issues within Ursa and will be a powerful first step in unlocking significant shareholder value.”
Inspiration Mining explores for nickel on its Langmuir property near Timmins in northern Ontario. It also explores nickel-gold-copper on its Cleaver and Douglas properties.
Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers.
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
VANCOUVER, BC – (May 9, 2011) Clearlease Reports Ursa Major Minerals Inc. (TSX:UMJ), a Toronto-based junior mineral explorer, says it has formed a special committee of the board to evaluate the strategic and financial alternatives available to the nickel company to boost shareholder value.
The move, announced Monday May 9, 2011, comes a few days after Inspiration Mining Corp., Ursa’s biggest shareholderr, said it will nominate alternate directors at Ursa annual and special meeting June 23.
Ursa said it has hired Raymond James Ltd. as its financial adviser to help the special committee in the process.
Ursa Major has two Ontario nickel mining projects —the Shakespeare Mine as well as nickel, copper and platinum group metal deposits.
On Friday, Inspiration Mining said it wants new directors on the Ursa board to help the company improve its oerations to boost its value.
“As the largest shareholder of Ursa Major, we continue to be concerned that after numerous attempts at engagement, the current board is not taking the necessary steps in order to maximize near term value for Ursa shareholders,” said Inspiration chairman Randy Miller.
“We are confident that a new slate will address operational issues within Ursa and will be a powerful first step in unlocking significant shareholder value.”
Inspiration Mining explores for nickel on its Langmuir property near Timmins in northern Ontario. It also explores nickel-gold-copper on its Cleaver and Douglas properties.
Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers.
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
Dominion Lending Centres Clearlease Reports Ursa Major Minerals (TSX:UMJ) seeks strategic options for Toronto-based miner
VANCOUVER, BC – (May 9, 2011) Clearlease Reports Ursa Major Minerals Inc. (TSX:UMJ), a Toronto-based junior mineral explorer, says it has formed a special committee of the board to evaluate the strategic and financial alternatives available to the nickel company to boost shareholder value.
The move, announced Monday May 9, 2011, comes a few days after Inspiration Mining Corp., Ursa’s biggest shareholderr, said it will nominate alternate directors at Ursa annual and special meeting June 23.
Ursa said it has hired Raymond James Ltd. as its financial adviser to help the special committee in the process.
Ursa Major has two Ontario nickel mining projects —the Shakespeare Mine as well as nickel, copper and platinum group metal deposits.
On Friday, Inspiration Mining said it wants new directors on the Ursa board to help the company improve its oerations to boost its value.
“As the largest shareholder of Ursa Major, we continue to be concerned that after numerous attempts at engagement, the current board is not taking the necessary steps in order to maximize near term value for Ursa shareholders,” said Inspiration chairman Randy Miller.
“We are confident that a new slate will address operational issues within Ursa and will be a powerful first step in unlocking significant shareholder value.”
Inspiration Mining explores for nickel on its Langmuir property near Timmins in northern Ontario. It also explores nickel-gold-copper on its Cleaver and Douglas properties.
Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers.
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
Dominion Lending Centres Clearlease Reports Apple (NasdaqGS: AAPL) passes Google (NasdaqGS: GOOG) as world’s most valuable brand
VANCOUVER, BC – (May 9, 2011) Clearlease Reports Apple Inc. has surpassed Google Inc. to become the world’s most valuable brand, a leading international ranking says.
The iPad and iPhone maker used the popularity of those devices to leapfrog to the top spot on Millward Brown’s BrandZ ranking.
Millward Brown, a subsidiary of advertising firm WPP, says Apple is now worth $153 billion. That’s an 84 per cent increase compared to last year. Google was in second place at $111 billion, a two per cent drop from last year.
Third place was computer pioneer IBM Corp., who’s brand is worth $100 billion according to the survey, a 17 per cent increase from last year.
Although recognizable names like McDonalds, Coca-Cola, Marlboro and Walmart stilll rank highly, technology names are starting to dominate, with six of the top ten slots. Cupertino, Calif. search giant Google droppped to No. 2 in the rankings after spending four years in the top spot.
Tellingly, online seller Amazon.com muscled ahead of retailer Walmart. The website is ranked 14th at $37.6 billion, just ahead of Walmart’s $37.2 billion in 15th place. The value of the former increased by 37 per cent while the latter declined by five per cent.
The rankings are based on a subjective consideration of how much the brand name contributes to earnings, along with what consumer’s perceptions of the brand are and how much they’re expected to grow moving forward.
Apple has now increased its brand value by more than nine times since the 2006 ranking, before the first generation iPhone was launched.
Four Canadian brands made the Top 100 list. BlackBerry was ranked 25th at $24.6 billion (a 20 per cent drop from last year). RIM’s signature device was followed by the names of three Canadian banks. RBC was ranked 39th, at a little over $17 billion.
TD was in 42nd place, at a little under $17 billion, and Scotiabank was ranked 87th in the world. Their brand was valued at just over $10 billion.
Oil multinational BP was hit hard by its Gulf of Mexico oil spill and took a 27 per cent hit to brand value. The BP icon was deemed to be worth $12.5 billion, good for 64th place.
The list showed many geographical shifts. While eight of the top 10 brands are U.S. based, China is now home to 12 of the Top 100 — up from only seven a year ago. China Mobile was deemed the world’s ninth most valuable brand, at a little over $57 billion.
And seven of the 11 newcomers to the list hail from so-called “BRIC” countries — emerging markets of Brazil, Russia, India and China.
Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers.
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
VANCOUVER, BC – (May 9, 2011) Clearlease Reports Apple Inc. has surpassed Google Inc. to become the world’s most valuable brand, a leading international ranking says.
The iPad and iPhone maker used the popularity of those devices to leapfrog to the top spot on Millward Brown’s BrandZ ranking.
Millward Brown, a subsidiary of advertising firm WPP, says Apple is now worth $153 billion. That’s an 84 per cent increase compared to last year. Google was in second place at $111 billion, a two per cent drop from last year.
Third place was computer pioneer IBM Corp., who’s brand is worth $100 billion according to the survey, a 17 per cent increase from last year.
Although recognizable names like McDonalds, Coca-Cola, Marlboro and Walmart stilll rank highly, technology names are starting to dominate, with six of the top ten slots. Cupertino, Calif. search giant Google droppped to No. 2 in the rankings after spending four years in the top spot.
Tellingly, online seller Amazon.com muscled ahead of retailer Walmart. The website is ranked 14th at $37.6 billion, just ahead of Walmart’s $37.2 billion in 15th place. The value of the former increased by 37 per cent while the latter declined by five per cent.
The rankings are based on a subjective consideration of how much the brand name contributes to earnings, along with what consumer’s perceptions of the brand are and how much they’re expected to grow moving forward.
Apple has now increased its brand value by more than nine times since the 2006 ranking, before the first generation iPhone was launched.
Four Canadian brands made the Top 100 list. BlackBerry was ranked 25th at $24.6 billion (a 20 per cent drop from last year). RIM’s signature device was followed by the names of three Canadian banks. RBC was ranked 39th, at a little over $17 billion.
TD was in 42nd place, at a little under $17 billion, and Scotiabank was ranked 87th in the world. Their brand was valued at just over $10 billion.
Oil multinational BP was hit hard by its Gulf of Mexico oil spill and took a 27 per cent hit to brand value. The BP icon was deemed to be worth $12.5 billion, good for 64th place.
The list showed many geographical shifts. While eight of the top 10 brands are U.S. based, China is now home to 12 of the Top 100 — up from only seven a year ago. China Mobile was deemed the world’s ninth most valuable brand, at a little over $57 billion.
And seven of the 11 newcomers to the list hail from so-called “BRIC” countries — emerging markets of Brazil, Russia, India and China.
Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers.
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
Dominion Lending Centres Clearlease Reports Apple (NasdaqGS: AAPL) passes Google (NasdaqGS: GOOG) as world’s most valuable brand
VANCOUVER, BC – (May 9, 2011) Clearlease Reports Apple Inc. has surpassed Google Inc. to become the world’s most valuable brand, a leading international ranking says.
The iPad and iPhone maker used the popularity of those devices to leapfrog to the top spot on Millward Brown’s BrandZ ranking.
Millward Brown, a subsidiary of advertising firm WPP, says Apple is now worth $153 billion. That’s an 84 per cent increase compared to last year. Google was in second place at $111 billion, a two per cent drop from last year.
Third place was computer pioneer IBM Corp., who’s brand is worth $100 billion according to the survey, a 17 per cent increase from last year.
Although recognizable names like McDonalds, Coca-Cola, Marlboro and Walmart stilll rank highly, technology names are starting to dominate, with six of the top ten slots. Cupertino, Calif. search giant Google droppped to No. 2 in the rankings after spending four years in the top spot.
Tellingly, online seller Amazon.com muscled ahead of retailer Walmart. The website is ranked 14th at $37.6 billion, just ahead of Walmart’s $37.2 billion in 15th place. The value of the former increased by 37 per cent while the latter declined by five per cent.
The rankings are based on a subjective consideration of how much the brand name contributes to earnings, along with what consumer’s perceptions of the brand are and how much they’re expected to grow moving forward.
Apple has now increased its brand value by more than nine times since the 2006 ranking, before the first generation iPhone was launched.
Four Canadian brands made the Top 100 list. BlackBerry was ranked 25th at $24.6 billion (a 20 per cent drop from last year). RIM’s signature device was followed by the names of three Canadian banks. RBC was ranked 39th, at a little over $17 billion.
TD was in 42nd place, at a little under $17 billion, and Scotiabank was ranked 87th in the world. Their brand was valued at just over $10 billion.
Oil multinational BP was hit hard by its Gulf of Mexico oil spill and took a 27 per cent hit to brand value. The BP icon was deemed to be worth $12.5 billion, good for 64th place.
The list showed many geographical shifts. While eight of the top 10 brands are U.S. based, China is now home to 12 of the Top 100 — up from only seven a year ago. China Mobile was deemed the world’s ninth most valuable brand, at a little over $57 billion.
And seven of the 11 newcomers to the list hail from so-called “BRIC” countries — emerging markets of Brazil, Russia, India and China.
Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers.
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
Dominion Lending Centres Clearlease Reports European officials say Greece may need more help with debt as S&P downgrades bonds further
VANCOUVER, BC – (May 9, 2011) Clearlease Reports European authorities have conceded they may need to do more to help Greece with its massive debts more than a year after it was first bailed out, but robustly denied the country wanted to leave the common currency.
Experts from the European Union and the International Monetary Fund are in Greece to check up on economic reforms promised in return for €110 billion ($160 billion) in rescue loans last year. They will also examine whether the current program will be enough to allow Athens to stand on its own feet again when the loans run out in 2013 — a scenario most investors think unlikely.
After a top European official said over the weekend that Greece needs another program, the experts’ conclusions may give the green light to another rescue loan or an easing in its current terms.
Uncertainty over Greece’s future kept the euro under pressure on Monday, as did a Standard & Poor’s downgrade of Greek bonds further into junk status. The ratings agency said it was increasingly likely that Greece would be given more time to repay its bailout loans and that it would negotiate a similar deal on bonds held by commercial investors.
S&P, which downgraded the long-term bonds to B from BB-, said Greece might eventually have to resort to a partial default, reneging on as much as 50 per cent of its debt. As a result, the agency said it could downgrade Greece again in coming months.
Though the country has enacted stringent austerity measures, started reforming the economy and announced a €50 billion ($73 billion) privatization program, the public finances are no longer improving as much as hoped.
In particular, the government is having trouble raising revenue as the economy remains in recession. The upshot is a financial shortfall estimated at some €30 billion ($44 billion) over the coming years.
In recent weeks it has become apparent that it will be difficult for Greece to raise money again on financial markets next year as its borrowing rates remain prohibitively high.
As a result, investors and policymakers say more needs to be done — the trigger to further action will likely be June, when the EU/IMF appraisal is recounted.
“Then we will evaluate those results,” Martin Kotthaus, spokesman for German Finance Minister Wolfgang Schaeuble, said when asked about additional help for Greece.
The latest bout of market jitters were stoked Friday when Schaeuble discussed the situation with his Greek, French and Italian counterparts, as well as European Central Bank President Jean-Claude Trichet and the EU’s Monetary Affairs Commissioner Olli Rehn at a meeting convened by Luxembourg Prime Minister Jean-Claude Juncker Friday.
“We think that Greece does need a further adjustment program,” said Juncker, who also chairs the regular meetings of eurozone finance ministers. Trichet on Monday expressed muted agreement with that position.
Still, an EU official said Monday that more help or easier bailout terms for Greece were far from a done deal. The official was speaking on condition of anonymity because of the sensitivity of the matter.
At the meeting, Greece’s Finance Minister George Papaconstantinou was told his government needed to “step up” efforts to deliver on the reforms promised in the bailout, the EU official said.
If Greece wanted to borrow money over ten years right now, it would have to pay a staggeringly high interest rate of more than 15 per cent. For two-year bonds, interest rates are even higher at over 25 per cent.
That’s unsustainable and compares with the 2 per cent to 3 per cent rates that Germany would have to pay — an incredible difference between countries that use the same currency and operate under the same monetary policy.
Papaconstantinou has already urged his country’s international creditors to ease the terms of its bailout by lowering the loans’ interest rates and extending the repayment period.
On Saturday, he said one way to allow Greece to return to financial markets would be to get the eurozone’s bailout fund — the European Financial Stability Facility — to buy up some of its bonds at auctions.
“Rather than return to the market next year as the original bailout has assumed, it now seems fairly likely that Greece will instead ask for more funds from the EU,” said Jane Foley, senior currency strategist at Rabobank International.
Most analysts believe that another bailout would just be another short-term solution. A debt restructuring could be more efficient. It would involve bondholders giving Greece more time to repay or accepting that their bonds don’t have the same value when buying them. It could be voluntary or involuntary.
So far, European officials have vehemently denied that a restructuring is on the cards before 2013, when a new crisis fund kicks in, let alone being discussed.
However, investors are skeptical of such denials after EU officials made stunning U-turns during the past year’s crisis.
The markets are clearly of the view that Greece will have to restructure its debts in some form or another — the yield on the 10-year bond was up another 0.11 percentage points at a staggering 15.62 per cent on Monday.
“The chain of events is increasingly proving the limits of the EU’s muddle-through strategy,” said Christian Carrillo, an analyst at Societe Generale.
The resurfacing of Greece’s debt crisis alongside apparent confusion within the EU about what to do about Greece is hardly a recipe for a further euro advance. Despite early gains Monday as investors accepted the official line that a Greek exit from the euro is not on the cards, the currency was back under pressure.
By mid afternoon London time, the euro was down a further 0.8 per cent on the day at $1.4264. On Friday, the single currency slid to a low of $1.4306 from around $1.45 before the euro exit speculation mushroomed.
Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers.
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
VANCOUVER, BC – (May 9, 2011) Clearlease Reports European authorities have conceded they may need to do more to help Greece with its massive debts more than a year after it was first bailed out, but robustly denied the country wanted to leave the common currency.
Experts from the European Union and the International Monetary Fund are in Greece to check up on economic reforms promised in return for €110 billion ($160 billion) in rescue loans last year. They will also examine whether the current program will be enough to allow Athens to stand on its own feet again when the loans run out in 2013 — a scenario most investors think unlikely.
After a top European official said over the weekend that Greece needs another program, the experts’ conclusions may give the green light to another rescue loan or an easing in its current terms.
Uncertainty over Greece’s future kept the euro under pressure on Monday, as did a Standard & Poor’s downgrade of Greek bonds further into junk status. The ratings agency said it was increasingly likely that Greece would be given more time to repay its bailout loans and that it would negotiate a similar deal on bonds held by commercial investors.
S&P, which downgraded the long-term bonds to B from BB-, said Greece might eventually have to resort to a partial default, reneging on as much as 50 per cent of its debt. As a result, the agency said it could downgrade Greece again in coming months.
Though the country has enacted stringent austerity measures, started reforming the economy and announced a €50 billion ($73 billion) privatization program, the public finances are no longer improving as much as hoped.
In particular, the government is having trouble raising revenue as the economy remains in recession. The upshot is a financial shortfall estimated at some €30 billion ($44 billion) over the coming years.
In recent weeks it has become apparent that it will be difficult for Greece to raise money again on financial markets next year as its borrowing rates remain prohibitively high.
As a result, investors and policymakers say more needs to be done — the trigger to further action will likely be June, when the EU/IMF appraisal is recounted.
“Then we will evaluate those results,” Martin Kotthaus, spokesman for German Finance Minister Wolfgang Schaeuble, said when asked about additional help for Greece.
The latest bout of market jitters were stoked Friday when Schaeuble discussed the situation with his Greek, French and Italian counterparts, as well as European Central Bank President Jean-Claude Trichet and the EU’s Monetary Affairs Commissioner Olli Rehn at a meeting convened by Luxembourg Prime Minister Jean-Claude Juncker Friday.
“We think that Greece does need a further adjustment program,” said Juncker, who also chairs the regular meetings of eurozone finance ministers. Trichet on Monday expressed muted agreement with that position.
Still, an EU official said Monday that more help or easier bailout terms for Greece were far from a done deal. The official was speaking on condition of anonymity because of the sensitivity of the matter.
At the meeting, Greece’s Finance Minister George Papaconstantinou was told his government needed to “step up” efforts to deliver on the reforms promised in the bailout, the EU official said.
If Greece wanted to borrow money over ten years right now, it would have to pay a staggeringly high interest rate of more than 15 per cent. For two-year bonds, interest rates are even higher at over 25 per cent.
That’s unsustainable and compares with the 2 per cent to 3 per cent rates that Germany would have to pay — an incredible difference between countries that use the same currency and operate under the same monetary policy.
Papaconstantinou has already urged his country’s international creditors to ease the terms of its bailout by lowering the loans’ interest rates and extending the repayment period.
On Saturday, he said one way to allow Greece to return to financial markets would be to get the eurozone’s bailout fund — the European Financial Stability Facility — to buy up some of its bonds at auctions.
“Rather than return to the market next year as the original bailout has assumed, it now seems fairly likely that Greece will instead ask for more funds from the EU,” said Jane Foley, senior currency strategist at Rabobank International.
Most analysts believe that another bailout would just be another short-term solution. A debt restructuring could be more efficient. It would involve bondholders giving Greece more time to repay or accepting that their bonds don’t have the same value when buying them. It could be voluntary or involuntary.
So far, European officials have vehemently denied that a restructuring is on the cards before 2013, when a new crisis fund kicks in, let alone being discussed.
However, investors are skeptical of such denials after EU officials made stunning U-turns during the past year’s crisis.
The markets are clearly of the view that Greece will have to restructure its debts in some form or another — the yield on the 10-year bond was up another 0.11 percentage points at a staggering 15.62 per cent on Monday.
“The chain of events is increasingly proving the limits of the EU’s muddle-through strategy,” said Christian Carrillo, an analyst at Societe Generale.
The resurfacing of Greece’s debt crisis alongside apparent confusion within the EU about what to do about Greece is hardly a recipe for a further euro advance. Despite early gains Monday as investors accepted the official line that a Greek exit from the euro is not on the cards, the currency was back under pressure.
By mid afternoon London time, the euro was down a further 0.8 per cent on the day at $1.4264. On Friday, the single currency slid to a low of $1.4306 from around $1.45 before the euro exit speculation mushroomed.
Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers.
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
Dominion Lending Centres Clearlease Reports European officials say Greece may need more help with debt as S&P downgrades bonds further
VANCOUVER, BC – (May 9, 2011) Clearlease Reports European authorities have conceded they may need to do more to help Greece with its massive debts more than a year after it was first bailed out, but robustly denied the country wanted to leave the common currency.
Experts from the European Union and the International Monetary Fund are in Greece to check up on economic reforms promised in return for €110 billion ($160 billion) in rescue loans last year. They will also examine whether the current program will be enough to allow Athens to stand on its own feet again when the loans run out in 2013 — a scenario most investors think unlikely.
After a top European official said over the weekend that Greece needs another program, the experts’ conclusions may give the green light to another rescue loan or an easing in its current terms.
Uncertainty over Greece’s future kept the euro under pressure on Monday, as did a Standard & Poor’s downgrade of Greek bonds further into junk status. The ratings agency said it was increasingly likely that Greece would be given more time to repay its bailout loans and that it would negotiate a similar deal on bonds held by commercial investors.
S&P, which downgraded the long-term bonds to B from BB-, said Greece might eventually have to resort to a partial default, reneging on as much as 50 per cent of its debt. As a result, the agency said it could downgrade Greece again in coming months.
Though the country has enacted stringent austerity measures, started reforming the economy and announced a €50 billion ($73 billion) privatization program, the public finances are no longer improving as much as hoped.
In particular, the government is having trouble raising revenue as the economy remains in recession. The upshot is a financial shortfall estimated at some €30 billion ($44 billion) over the coming years.
In recent weeks it has become apparent that it will be difficult for Greece to raise money again on financial markets next year as its borrowing rates remain prohibitively high.
As a result, investors and policymakers say more needs to be done — the trigger to further action will likely be June, when the EU/IMF appraisal is recounted.
“Then we will evaluate those results,” Martin Kotthaus, spokesman for German Finance Minister Wolfgang Schaeuble, said when asked about additional help for Greece.
The latest bout of market jitters were stoked Friday when Schaeuble discussed the situation with his Greek, French and Italian counterparts, as well as European Central Bank President Jean-Claude Trichet and the EU’s Monetary Affairs Commissioner Olli Rehn at a meeting convened by Luxembourg Prime Minister Jean-Claude Juncker Friday.
“We think that Greece does need a further adjustment program,” said Juncker, who also chairs the regular meetings of eurozone finance ministers. Trichet on Monday expressed muted agreement with that position.
Still, an EU official said Monday that more help or easier bailout terms for Greece were far from a done deal. The official was speaking on condition of anonymity because of the sensitivity of the matter.
At the meeting, Greece’s Finance Minister George Papaconstantinou was told his government needed to “step up” efforts to deliver on the reforms promised in the bailout, the EU official said.
If Greece wanted to borrow money over ten years right now, it would have to pay a staggeringly high interest rate of more than 15 per cent. For two-year bonds, interest rates are even higher at over 25 per cent.
That’s unsustainable and compares with the 2 per cent to 3 per cent rates that Germany would have to pay — an incredible difference between countries that use the same currency and operate under the same monetary policy.
Papaconstantinou has already urged his country’s international creditors to ease the terms of its bailout by lowering the loans’ interest rates and extending the repayment period.
On Saturday, he said one way to allow Greece to return to financial markets would be to get the eurozone’s bailout fund — the European Financial Stability Facility — to buy up some of its bonds at auctions.
“Rather than return to the market next year as the original bailout has assumed, it now seems fairly likely that Greece will instead ask for more funds from the EU,” said Jane Foley, senior currency strategist at Rabobank International.
Most analysts believe that another bailout would just be another short-term solution. A debt restructuring could be more efficient. It would involve bondholders giving Greece more time to repay or accepting that their bonds don’t have the same value when buying them. It could be voluntary or involuntary.
So far, European officials have vehemently denied that a restructuring is on the cards before 2013, when a new crisis fund kicks in, let alone being discussed.
However, investors are skeptical of such denials after EU officials made stunning U-turns during the past year’s crisis.
The markets are clearly of the view that Greece will have to restructure its debts in some form or another — the yield on the 10-year bond was up another 0.11 percentage points at a staggering 15.62 per cent on Monday.
“The chain of events is increasingly proving the limits of the EU’s muddle-through strategy,” said Christian Carrillo, an analyst at Societe Generale.
The resurfacing of Greece’s debt crisis alongside apparent confusion within the EU about what to do about Greece is hardly a recipe for a further euro advance. Despite early gains Monday as investors accepted the official line that a Greek exit from the euro is not on the cards, the currency was back under pressure.
By mid afternoon London time, the euro was down a further 0.8 per cent on the day at $1.4264. On Friday, the single currency slid to a low of $1.4306 from around $1.45 before the euro exit speculation mushroomed.
Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers.
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
Dominion Lending Centres Clearlease Reports Hertz (NYSE: HTZ ) raises offer to Dollar Thrifty in ongoing tussle with Avis
VANCOUVER, BC – (May 9, 2011) Clearlease Reports Hertz (NYSE: HTZ ) is raising the stakes in its pursuit of Dollar Thrifty Automotive Group Inc. Monday May 9, 2011, in hopes of besting rival Avis’ efforts to acquire the Oklahoma-based car rental agency.
The two vehicle rental heavyweights have been in a virtual tug-of-war over Dollar Thrifty for a little more than a year, with both looking to snag the Tulsa, Okla., company because its clientele is largely the leisure traveller. Hertz and Avis cater mostly to business travellers, so a Dollar Thrifty acquisition would automatically give either one a broader appeal.
Hertz Global Holdings Inc. sweetened the pot on Monday. Its new proposal is worth $72 a share in cash and stock. This includes $57.60 in cash and 0.8546 shares of its common stock. With 31.2 million fully diluted shares of Dollar Thrifty, the Hertz bid is worth about $2.25 billion and 3.3 per cent above Dollar Thrifty’s closing price last week.
Dollar Thrifty said in a statement on Monday that its board will review Hertz’s bid and advised its stockholders not to take any action pending its review.
Investors appeared to be betting that the bidding will go higher. Dollar Thrifty shares climbed $8.78, or 12.6 per cent, to $78.47 in midday trading. Hertz’s stock gained 10 cents to $16.95, while shares of Avis Budget Group Inc. fell 4 cents to $18.37.
Hertz’s revised bid is likely meant to appeal to Dollar Thrifty’s stockholders. Dollar Thrifty shareholders stung Hertz in September when they rejected an offer that included $43.60 in cash and 0.6366 shares of common stock. Dollar Thrifty’s board had recommended stockholders accept the deal.
At the time, industry experts speculated that Dollar Thrifty shareholders favoured a potential deal with Avis because it was more money than Hertz was offering. Avis had offered $45.79 per share in cash and 0.6543 shares of Avis.
At Friday’s price for Avis, that bid was worth $1.74 billion.
Dollar Thrifty had asked Avis in October not to make a formal offer so that the two companies could work together with antitrust authorities. Avis, based in Parsippany, N.J., agreed to wait.
Avis spokesman Andrew Siegel said Monday that the company was declining comment on the Hertz offer.
In making its latest offer, Hertz said it will sell its Advantage brand. Chairman and CEO Mark Frissora said during a conference call that Hertz already has five interested parties holding talks and feels confident a sale can be accomplished in a short period of time.
Hertz is also in discussions with the Federal Trade Commission about how to close the deal quickly. Frissora said the Park Ridge, N.J. company is aiming to close the transaction before the end of the third quarter.
Frissora says Avis has been in lengthy talks with the FTC over its offer “with no end in sight.”
Frissora said Hertz has been “waiting and watching for a long time” as Avis and Dollar Thrifty have dealt with the FTC. Hertz realized last week during Avis and Dollar Thrifty’s earnings conference calls that no progress had been made and decided that it was the right time to make another move, he explained.
In a letter sent to Dollar Thrifty President and CEO Scott Thompson on Monday, Frissora said the transaction was “the highest priority for Hertz,” and that its board and management team unanimously supports the transaction.
The company says its offer is not subject to any financing condition and would likely be paid for with cash on hand and new borrowings.
The proposed buyout is anticipated to add to Hertz’s earnings per share the first full year after the deal closes.
The potential Dollar Thrifty acquisition is a sign of the times within the car rental industry. The sector has been consolidating for years after hitting a peak of about $30 billion in revenue in 2007, according to research firm IBISWorld.
In 2002, Avis’ parent company bought Budget, while Enterprise’s parent company acquired Alamo and National in 2007.
In the U.S., Enterprise is the dominant player with 37 per cent of the market, followed by Hertz at 20 per cent. Avis Budget has a 17 per cent share, and Dollar Thrifty has under 7 per cent, according to IBISWorld.
Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers.
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
VANCOUVER, BC – (May 9, 2011) Clearlease Reports Hertz (NYSE: HTZ ) is raising the stakes in its pursuit of Dollar Thrifty Automotive Group Inc. Monday May 9, 2011, in hopes of besting rival Avis’ efforts to acquire the Oklahoma-based car rental agency.
The two vehicle rental heavyweights have been in a virtual tug-of-war over Dollar Thrifty for a little more than a year, with both looking to snag the Tulsa, Okla., company because its clientele is largely the leisure traveller. Hertz and Avis cater mostly to business travellers, so a Dollar Thrifty acquisition would automatically give either one a broader appeal.
Hertz Global Holdings Inc. sweetened the pot on Monday. Its new proposal is worth $72 a share in cash and stock. This includes $57.60 in cash and 0.8546 shares of its common stock. With 31.2 million fully diluted shares of Dollar Thrifty, the Hertz bid is worth about $2.25 billion and 3.3 per cent above Dollar Thrifty’s closing price last week.
Dollar Thrifty said in a statement on Monday that its board will review Hertz’s bid and advised its stockholders not to take any action pending its review.
Investors appeared to be betting that the bidding will go higher. Dollar Thrifty shares climbed $8.78, or 12.6 per cent, to $78.47 in midday trading. Hertz’s stock gained 10 cents to $16.95, while shares of Avis Budget Group Inc. fell 4 cents to $18.37.
Hertz’s revised bid is likely meant to appeal to Dollar Thrifty’s stockholders. Dollar Thrifty shareholders stung Hertz in September when they rejected an offer that included $43.60 in cash and 0.6366 shares of common stock. Dollar Thrifty’s board had recommended stockholders accept the deal.
At the time, industry experts speculated that Dollar Thrifty shareholders favoured a potential deal with Avis because it was more money than Hertz was offering. Avis had offered $45.79 per share in cash and 0.6543 shares of Avis.
At Friday’s price for Avis, that bid was worth $1.74 billion.
Dollar Thrifty had asked Avis in October not to make a formal offer so that the two companies could work together with antitrust authorities. Avis, based in Parsippany, N.J., agreed to wait.
Avis spokesman Andrew Siegel said Monday that the company was declining comment on the Hertz offer.
In making its latest offer, Hertz said it will sell its Advantage brand. Chairman and CEO Mark Frissora said during a conference call that Hertz already has five interested parties holding talks and feels confident a sale can be accomplished in a short period of time.
Hertz is also in discussions with the Federal Trade Commission about how to close the deal quickly. Frissora said the Park Ridge, N.J. company is aiming to close the transaction before the end of the third quarter.
Frissora says Avis has been in lengthy talks with the FTC over its offer “with no end in sight.”
Frissora said Hertz has been “waiting and watching for a long time” as Avis and Dollar Thrifty have dealt with the FTC. Hertz realized last week during Avis and Dollar Thrifty’s earnings conference calls that no progress had been made and decided that it was the right time to make another move, he explained.
In a letter sent to Dollar Thrifty President and CEO Scott Thompson on Monday, Frissora said the transaction was “the highest priority for Hertz,” and that its board and management team unanimously supports the transaction.
The company says its offer is not subject to any financing condition and would likely be paid for with cash on hand and new borrowings.
The proposed buyout is anticipated to add to Hertz’s earnings per share the first full year after the deal closes.
The potential Dollar Thrifty acquisition is a sign of the times within the car rental industry. The sector has been consolidating for years after hitting a peak of about $30 billion in revenue in 2007, according to research firm IBISWorld.
In 2002, Avis’ parent company bought Budget, while Enterprise’s parent company acquired Alamo and National in 2007.
In the U.S., Enterprise is the dominant player with 37 per cent of the market, followed by Hertz at 20 per cent. Avis Budget has a 17 per cent share, and Dollar Thrifty has under 7 per cent, according to IBISWorld.
Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers.
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
Dominion Lending Centres Clearlease Reports Hertz (NYSE: HTZ ) raises offer to Dollar Thrifty in ongoing tussle with Avis
VANCOUVER, BC – (May 9, 2011) Clearlease Reports Hertz (NYSE: HTZ ) is raising the stakes in its pursuit of Dollar Thrifty Automotive Group Inc. Monday May 9, 2011, in hopes of besting rival Avis’ efforts to acquire the Oklahoma-based car rental agency.
The two vehicle rental heavyweights have been in a virtual tug-of-war over Dollar Thrifty for a little more than a year, with both looking to snag the Tulsa, Okla., company because its clientele is largely the leisure traveller. Hertz and Avis cater mostly to business travellers, so a Dollar Thrifty acquisition would automatically give either one a broader appeal.
Hertz Global Holdings Inc. sweetened the pot on Monday. Its new proposal is worth $72 a share in cash and stock. This includes $57.60 in cash and 0.8546 shares of its common stock. With 31.2 million fully diluted shares of Dollar Thrifty, the Hertz bid is worth about $2.25 billion and 3.3 per cent above Dollar Thrifty’s closing price last week.
Dollar Thrifty said in a statement on Monday that its board will review Hertz’s bid and advised its stockholders not to take any action pending its review.
Investors appeared to be betting that the bidding will go higher. Dollar Thrifty shares climbed $8.78, or 12.6 per cent, to $78.47 in midday trading. Hertz’s stock gained 10 cents to $16.95, while shares of Avis Budget Group Inc. fell 4 cents to $18.37.
Hertz’s revised bid is likely meant to appeal to Dollar Thrifty’s stockholders. Dollar Thrifty shareholders stung Hertz in September when they rejected an offer that included $43.60 in cash and 0.6366 shares of common stock. Dollar Thrifty’s board had recommended stockholders accept the deal.
At the time, industry experts speculated that Dollar Thrifty shareholders favoured a potential deal with Avis because it was more money than Hertz was offering. Avis had offered $45.79 per share in cash and 0.6543 shares of Avis.
At Friday’s price for Avis, that bid was worth $1.74 billion.
Dollar Thrifty had asked Avis in October not to make a formal offer so that the two companies could work together with antitrust authorities. Avis, based in Parsippany, N.J., agreed to wait.
Avis spokesman Andrew Siegel said Monday that the company was declining comment on the Hertz offer.
In making its latest offer, Hertz said it will sell its Advantage brand. Chairman and CEO Mark Frissora said during a conference call that Hertz already has five interested parties holding talks and feels confident a sale can be accomplished in a short period of time.
Hertz is also in discussions with the Federal Trade Commission about how to close the deal quickly. Frissora said the Park Ridge, N.J. company is aiming to close the transaction before the end of the third quarter.
Frissora says Avis has been in lengthy talks with the FTC over its offer “with no end in sight.”
Frissora said Hertz has been “waiting and watching for a long time” as Avis and Dollar Thrifty have dealt with the FTC. Hertz realized last week during Avis and Dollar Thrifty’s earnings conference calls that no progress had been made and decided that it was the right time to make another move, he explained.
In a letter sent to Dollar Thrifty President and CEO Scott Thompson on Monday, Frissora said the transaction was “the highest priority for Hertz,” and that its board and management team unanimously supports the transaction.
The company says its offer is not subject to any financing condition and would likely be paid for with cash on hand and new borrowings.
The proposed buyout is anticipated to add to Hertz’s earnings per share the first full year after the deal closes.
The potential Dollar Thrifty acquisition is a sign of the times within the car rental industry. The sector has been consolidating for years after hitting a peak of about $30 billion in revenue in 2007, according to research firm IBISWorld.
In 2002, Avis’ parent company bought Budget, while Enterprise’s parent company acquired Alamo and National in 2007.
In the U.S., Enterprise is the dominant player with 37 per cent of the market, followed by Hertz at 20 per cent. Avis Budget has a 17 per cent share, and Dollar Thrifty has under 7 per cent, according to IBISWorld.
Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers.
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
Dominion Lending Centres Clearlease Reports Nasdaq, ICE send letter to NYSE shareholders to put pressure on NYSE board
VANCOUVER, BC – (May 9, 2011) Clearlease Reports Nasdaq and IntercontinentalExchange reached out directly to the shareholders of the parent company of the New York Stock Exchange in its unsolicited bid to acquire the exchange owner.
On Monday, Nasdaq OMX Group Inc. and IntercontinentalExchange Inc. (ICE) issued a letter to NYSE Euronext shareholders saying that the NYSE board is rushing them to a vote without exploring better alternatives. The two exchanges hope that shareholders will put pressure on NYSE’s board to consider Nasdaq and Intercontinental’s bid for NYSE Euronext which is worth about $11 billion.
The parent company of NYSE has twice rejected the joint bid from Nasdaq and ICE saying it is committed to its previously agreed-to $10 billion merger with German exchange operator Deutsche Boerse, despite the lower price. NYSE shareholders are scheduled to vote in early July on the merger with the German company.
Executives from Nasdaq and ICE have expressed disappointment that NYSE has refused to even meet with them to consider their higher takeover bid. They have also started an exchange offer to jointly acquire all of the outstanding shares of NYSE Euronext for $11 billion.
They hope to build on NYSE’s contentious annual meeting on April 28, where shareholders expressed concern about the fact that the NYSE board is not considering the higher takeover bid.
The letter sought to bring focus on the regulatory challenges that face the Deutsche Boerse transaction in Europe. It cites Dominique Cerutti, deputy CEO of NYSE Euronext, who has said that it would take until March 2012 to win regulatory approval from the European Union.
The letter points out that if the proposed Deutsche Boerse transaction is approved by stockholders in July, it would be impossible to consider the financially superior proposal later.
Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers.
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
VANCOUVER, BC – (May 9, 2011) Clearlease Reports Nasdaq and IntercontinentalExchange reached out directly to the shareholders of the parent company of the New York Stock Exchange in its unsolicited bid to acquire the exchange owner.
On Monday, Nasdaq OMX Group Inc. and IntercontinentalExchange Inc. (ICE) issued a letter to NYSE Euronext shareholders saying that the NYSE board is rushing them to a vote without exploring better alternatives. The two exchanges hope that shareholders will put pressure on NYSE’s board to consider Nasdaq and Intercontinental’s bid for NYSE Euronext which is worth about $11 billion.
The parent company of NYSE has twice rejected the joint bid from Nasdaq and ICE saying it is committed to its previously agreed-to $10 billion merger with German exchange operator Deutsche Boerse, despite the lower price. NYSE shareholders are scheduled to vote in early July on the merger with the German company.
Executives from Nasdaq and ICE have expressed disappointment that NYSE has refused to even meet with them to consider their higher takeover bid. They have also started an exchange offer to jointly acquire all of the outstanding shares of NYSE Euronext for $11 billion.
They hope to build on NYSE’s contentious annual meeting on April 28, where shareholders expressed concern about the fact that the NYSE board is not considering the higher takeover bid.
The letter sought to bring focus on the regulatory challenges that face the Deutsche Boerse transaction in Europe. It cites Dominique Cerutti, deputy CEO of NYSE Euronext, who has said that it would take until March 2012 to win regulatory approval from the European Union.
The letter points out that if the proposed Deutsche Boerse transaction is approved by stockholders in July, it would be impossible to consider the financially superior proposal later.
Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers.
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
Dominion Lending Centres Clearlease Reports Nasdaq, ICE send letter to NYSE shareholders to put pressure on NYSE board
VANCOUVER, BC – (May 9, 2011) Clearlease Reports Nasdaq and IntercontinentalExchange reached out directly to the shareholders of the parent company of the New York Stock Exchange in its unsolicited bid to acquire the exchange owner.
On Monday, Nasdaq OMX Group Inc. and IntercontinentalExchange Inc. (ICE) issued a letter to NYSE Euronext shareholders saying that the NYSE board is rushing them to a vote without exploring better alternatives. The two exchanges hope that shareholders will put pressure on NYSE’s board to consider Nasdaq and Intercontinental’s bid for NYSE Euronext which is worth about $11 billion.
The parent company of NYSE has twice rejected the joint bid from Nasdaq and ICE saying it is committed to its previously agreed-to $10 billion merger with German exchange operator Deutsche Boerse, despite the lower price. NYSE shareholders are scheduled to vote in early July on the merger with the German company.
Executives from Nasdaq and ICE have expressed disappointment that NYSE has refused to even meet with them to consider their higher takeover bid. They have also started an exchange offer to jointly acquire all of the outstanding shares of NYSE Euronext for $11 billion.
They hope to build on NYSE’s contentious annual meeting on April 28, where shareholders expressed concern about the fact that the NYSE board is not considering the higher takeover bid.
The letter sought to bring focus on the regulatory challenges that face the Deutsche Boerse transaction in Europe. It cites Dominique Cerutti, deputy CEO of NYSE Euronext, who has said that it would take until March 2012 to win regulatory approval from the European Union.
The letter points out that if the proposed Deutsche Boerse transaction is approved by stockholders in July, it would be impossible to consider the financially superior proposal later.
Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers.
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
