latest news releases from the newsroom
TelePlus Enterprises, Inc.
TelePlus Increases Operational Efficiency of its Retail Subsidiary
MONTREAL, June 30, 2005 (PRIMEZONE) -- TelePlus Enterprises, Inc. (OTCBB:TLPE)(http://www.teleplus.ca), a vertically integrated provider of wireless and landline communications products and services across North America, announced today that its subsidiary TelePlus Retail Services, Inc. ("TelePlus Retail") expects to realize $607,000 (US) in annualized cost reductions through recent consolidations of certain stores and scheduling optimizations as part of its focus on driving increased profitability within the retail operation.
First Horizon National Corporation
Prospects For Growth of Washington Region: More of the Same
MCLEAN, Va., June 30, 2005 (PRIMEZONE) -- According to a study released today, the Washington-area economy is continuing its ranking as the strongest in the nation, due largely to the ongoing growth in work performed in this region under federal government contracts awarded to private companies. In his annual survey of federal procurement spending, Dr. Stephen Fuller, director of the Center for Regional Analysis at George Mason University, reports that federal procurements in the region surpassed $50 billion in 2004, accounting for 16.9 percent of the region's $295 billion Gross Regional Product (GRP), and was a major reason the region's economy grew by 4.4 percent from 2003 to 2004 and why the region appears likely to add another 80,000 new jobs in 2005.
Dobson Communications Corporation
Dobson Communications Completes Sale of Most Tower Assets to Global Tower Partners
OKLAHOMA CITY, June 30, 2005 (PRIMEZONE) -- Dobson Communications Corporation (Nasdaq: DCEL) today announced that its subsidiaries, Dobson Cellular Systems, Inc. and American Cellular Corporation, have completed the sale of 507 cellular towers to Global Tower Partners (GTP) for $77.0 million, pursuant to the previously announced agreement. Subject to routine closing conditions, Dobson expects to complete the sale of an additional 56 towers for approximately $8.5 million to Global Tower by the end of 2005.
Madison Bay Holdings Inc. (formerly Summit Coaches, Inc.)
Summit Coaches, Inc. Acquires Madison Bay Marine Development
SANDY, Utah, June 30, 2005 (PRIMEZONE) -- Summit Coaches, Inc. (Pink Sheets:SUMC) signed and closed an asset purchase and sale agreement under which it acquired Madison Bay Marine Development, a Washington company. As a result of this transaction, Ricardo Ruelos has been named CEO, the company has changed its name to Madison Bay Holdings, Inc., and the corporate headquarters has relocated to Seattle, Washington. The existing RV project will continue to move forward under the Summit Coaches name, as a division of Madison Bay.
Roberts Realty Investors, Inc.
Roberts Realty Investors, Inc. Acquires 14.5 Acres of Investment Property
ATLANTA, June 30, 2005 (PRIMEZONE) -- Roberts Realty Investors, Inc. (AMEX:RPI) announces that it purchased 14.5 acres of investment property zoned for 217 residential units in the North Atlanta submarket of Alpharetta, Georgia. The property was acquired for $3.3 million from Roberts Properties Peachtree Dunwoody, LLC, which is owned and controlled by Mr. Charles S. Roberts, the President and CEO of Roberts Realty. The acquisition also includes a right of first refusal from Cousins Properties to acquire an adjacent seven acre parcel of land zoned for 105 residential units. The property is located between Haynes Bridge Road and Mansell Road within a 220-acre master planned development known as Westside. The acquisition is part of a Section 1031 tax-deferred exchange using a portion of the proceeds from the May sale of the company's Ballantyne Place community, located in Charlotte, North Carolina.