latest news releases from the newsroom
Shearson Financial Network, Inc.
Shearson Home Loans Signs $50 Million Mortgage Loan Sale Agreement With Capital Asset Group
LAS VEGAS, Oct. 12, 2005 (PRIMEZONE) -- Shearson Home Loans, a subsidiary of Consumer Direct of America (OTCBB:CSUA) (CDA), a consolidator of the mortgage brokerage industry, today announced that it has executed an agreement to sell up to $50 million of its "A" paper and "Alt A" loans to a fund managed by Capital Asset Group of Newport Beach, California (CAG). The agreement allows for Shearson to deliver on request to CAG's fund, whole loans with FICO scores in the "A" and "Alt A" paper range. Under the agreement, Shearson would also service, on behalf of CAG, the loans sold to the CAG's fund.
The Pomerantz Firm Charges Lipman Electronic Engineering, Ltd. With Securities Fraud -- LPMA
NEW YORK, Oct. 12, 2005 (PRIMEZONE) -- Pomerantz Haudek Block Grossman & Gross LLP (www.pomerantzlaw.com) has filed a class action complaint in the United States District Court, Eastern District of New York, against Lipman Electronic Engineering, Ltd. ("Lipman" or the "Company") (Nasdaq:LPMA) (TASE:LPMA) and certain of its officers and directors. The class action was filed on behalf of public investors who purchased the common stock of Lipman on either or both the Nasdaq National Market and the Tel Aviv Stock Exchange during the period of October 4, 2004 through September 27, 2005, inclusive (the "Class Period").
MEDirect Latino, Inc.
MEDirect Latino Inc. Announces Call with Investors, Brokers and Analysts to Discuss Fiscal First Quarter Operating Results
PLANTATION, Fla., Oct. 12, 2005 (PRIMEZONE) -- MEDirect Latino Inc. (Pink Sheets:MLTO) (www.medirectlatino.org), the first national provider of direct-to-consumer Medicare reimbursed medical products focused exclusively on chronic diseases afflicting the Hispanic community, today announced an investor conference call to be held on Tuesday October 18th, 2005 at 4:15 PM Eastern Daylight Time. MEDirect Latino's management team will host the call from the Med-Trade Conference and Exposition being held from October 18-20th, where the Company will be negotiating supplier agreements for 2006, and sourcing additional products for its Hispanic Medicare eligible clients. Co-Chairman and CEO, Mr. Raymond Talarico, President, Ms. Debra L. Towsley and COO, Mr. Charles W. Hansen, will be making presentations on various aspects of the Company's latest results. "We are very excited about recent operating results as evidenced from the record corporate achievement that we announced last Monday. We are currently experiencing an average 80% increase per month in new client starts, product shipped and gross billings achieved. Our early results for October, which we will be discussing on the conference call, clearly indicate that this trend is continuing, if not accelerating as our national media campaign gains traction," stated Mr. Talarico. Adding, "MEDirect continues to fulfill the critical link between the Hispanic Medicare community and their healthcare benefits." Company President, Ms. Debra L. Towsley, noted, "We have a commitment to our shareholders as well as the investment community for maximum disclosure and communication, and for that reason we are looking forward to discussing these developments with our Shareholders and the investment community."
StockGuru.com Issues New Profile Report on Energy & Engine Technology Authored by Julie Marshall
DALLAS, Oct. 12, 2005 (PRIMEZONE) -- StockGuru.com has issued a Profile Report on Energy & Engine Technology (OTCBB:EENT). The report is authored by Julie Marshall, Senior Financial Analyst for Pentony Enterprises. The report discusses the auxiliary power units marketed under the brand name AXP 1000. Marshall discussed the market potential for the AXP 1000 and notes in the report, "The utilization of the idle-reduction technology is anticipated to lead to savings of over $3.5 billion and reduce diesel fuel consumption by over 1.2 billion gallons every year." Also discussed in the report are Anchor Manufacturing and BMZ Generators Technology, Inc.
HCC Insurance Holdings, Inc.
HCC to Acquire MIC Life
HOUSTON, Oct. 12, 2005 (PRIMEZONE) -- HCC Insurance Holdings, Inc. (NYSE:HCC) announced today that the Company had reached an agreement to acquire MIC Life Insurance Corporation from Motors Insurance Corporation, a subsidiary of GMAC Insurance Holdings, Inc., for an undisclosed consideration. MIC Life is currently inactive but is licensed to conduct business in all states except New York. This transaction is expected to close shortly, subject to receipt of required regulatory approval.