latest news releases from the newsroom
Solomon Technologies, Inc.
Solomon Engages Ardour Capital
TARPON SPRINGS, Fla., Oct. 13, 2006 (PRIMEZONE) -- Solomon Technologies, Inc. (OTCBB:SOLM) announced today that it has engaged Ardour Capital Investments, LLC (www.ardourcapital.com) to assist in executing its strategic growth plan and acquisition strategy. Ardour, based in New York, focuses its efforts exclusively on clients involved in the energy technology sector.
Telenor: Deep Admiration for Mohammad Yunus
OSLO and FORNEBU, Norway, Oct. 13, 2006 (PRIMEZONE) -- "We are proud and extremely happy that our partner for more than 10 years, Muhammad Yunus and Grameen Bank have received this year's Nobel Peace Prize," says Telenor's President and CEO Jon Fredrik Baksaas.
NetBank Sells Majority of Its Mortgage Servicing Rights
ATLANTA, Oct. 13, 2006 (PRIMEZONE) -- NetBank, Inc. (Nasdaq:NTBK), parent company of NetBank(r) (www.netbank.com) and a leading mortgage lender, today announced that the company has sold most of its mortgage servicing rights ("MSRs") associated with conventional, agency-eligible loans. These MSRs accounted for approximately 70% of NetBank's portfolio, and the unpaid principal balance ("UPB") on the underlying mortgages totaled $8.5 billion. The MSRs were sold in two separate transactions. The larger, more significant deal involved MSRs for Fannie Mae and Freddie Mac loans. These MSRs had a related UPB of approximately $8.2 billion, and they were acquired by IXIS Real Estate Capital Inc. ("IXIS"). A different buyer purchased a pool of Ginnie Mae MSRs with UPB of approximately $230 million. Both transactions closed on September 29 and were recognized as third quarter events.
Chelsea Therapeutics to Present at BIO Investor Forum
CHARLOTTE, N.C., Oct. 13, 2006 (PRIMEZONE) -- Chelsea Therapeutics International, Ltd. (Nasdaq:CHTP) is scheduled to present at the BIO Investor Forum Conference 2006. Chelsea's management will provide a brief corporate overview and discuss the company's preclinical and clinical product candidates in a presentation at 4:40 PM Pacific Time on Wednesday, October 18, 2006 at the Palace Hotel in San Francisco, CA.
Tower Financial Corporation
Tower Financial Corporation Reports Third Quarter 2006 Earnings
FORT WAYNE, Ind., Oct. 13, 2006 (PRIMEZONE) -- Tower Financial Corporation (Nasdaq:TOFC) today announced third quarter 2006 net income of $973,000, an increase of 4.3 percent from the $932,700 reported for the third quarter of 2005. Diluted earnings per share were $0.24, up 4.3 percent from third quarter 2005 earnings of $0.23 per share. Performance reflects continued strong balance sheet and non-interest income growth, partially offset by margin compression and expenditures related to expansion.
City Living Home Furnishings
City Living Home Furnishings Offers Stylish Design Solutions For Atlanta Homes
ATLANTA, Oct. 13, 2006 (PRIMEZONE) -- Are you ready to take your home to the next level? Looking for expert advice on how to design a room - start to finish? Well, there is a store in the heart of Atlanta, dedicated and committed to helping you do just that! City Living Home Furnishings, an upscale, boutique furniture gallery in the Chattahoochee Retail District is not just a furniture store - it's a one-stop shop, filled with a variety of home furnishings. The unique style, energy, and sophistication captured throughout the showroom has attracted an elite clientele, including songstress Whitney Houston, R&B singer Keith Sweat, Outkast's Sleepy Brown, radio personality Ryan Cameron and NBA stars Salim Stoudamire and Chris Webber.