latest news releases from the newsroom
L&R Group of Companies
L&R Group of Companies Renews Parking Contract At Oakland International Airport
LOS ANGELES and OAKLAND, Calif., Nov. 26, 2008 (GLOBE NEWSWIRE) -- The L&R Group of Companies, ("L&R") is pleased to announce that Five Star Parking was re-awarded the parking contract at the Oakland International Airport, ahead of four other bidders. With the signing of a new five year, multi-million dollar contract, Five Star Parking will manage daily parking, the economy lot, as well as the valet operation at the Airport. In addition, Five Star Parking is thrilled to unveil new marketing initiatives designed to increase awareness by highlighting new services, new offerings, and new branding of on-site parking at the airport.
CenterPoint Energy, Inc.
CenterPoint Energy Subsidiary Closes On New $600 Million Credit Facility
HOUSTON, Nov. 26, 2008 (GLOBE NEWSWIRE) -- CenterPoint Energy Houston Electric, LLC (CEHE), the electric transmission and distribution subsidiary of CenterPoint Energy Inc. (NYSE:CNP) (the Company), announced that it closed yesterday on a new $600 million credit facility. The new 364-day facility will provide additional liquidity to CEHE while it is seeking to recover the costs incurred as a result of Hurricane Ike, and will terminate when bonds are issued to securitize those costs if those bonds are issued prior to the normal expiration of the facility. CEHE expects to seek legislative and regulatory approval for the issuance of such bonds during 2009.
Kforce Announces Additional Board Authorization to Repurchase Company Stock
TAMPA, Fla., Nov. 26, 2008 (GLOBE NEWSWIRE) -- Kforce Inc. (Nasdaq:KFRC), a professional staffing and solutions firm, today announced that its Board of Directors approved an increase to its previous authorization under Kforce's corporate stock repurchase plan to bring the total authorization as of the close of business on November 24, 2008 to $75.0 million.
Allianz Global Investors Fund Management LLC
Allianz Global Investors Fund Management Announces a Change to the Option Strategy and Portfolio Management Team of Nicholas-Applegate International & Premium Strategy Fund
NEW YORK, Nov. 26, 2008 (GLOBE NEWSWIRE) -- Allianz Global Investors Fund Management LLC ("AGIFM"), announced that, on November 12, 2008, shareholders of the Nicholas-Applegate International & Premium Strategy Fund (the "Fund" or "NAI") (NYSE:NAI) approved the change of the Fund's sub-adviser responsible for the Fund's option strategy from Oppenheimer Capital LLC to Nicholas-Applegate Capital Management LLC ("NACM"), and the termination of Oppenheimer Capital LLC's role as sub-adviser, both of which took effect on the close of business Tuesday November 25, 2008. As mentioned in the September 26, 2008 press release, management fees paid by the Fund will not be impacted, although the sub-advisory fee payable by AGIFM to NACM shall increase by the amount of the current sub-advisory fee payable by AGIFM to Oppenheimer Capital LLC.
Banner Corporation Announces Officer Promotions
WALLA WALLA, Wash., Nov. 26, 2008 (GLOBE NEWSWIRE) -- Banner Corporation (Nasdaq:BANR), the parent company of Banner Bank and Islanders Bank, today announced that it is promoting three experienced officers within the organization. Cynthia Purcell, who is an Executive Vice President, has been named Chief Operating Officer of Banner Bank, in which role she will oversee the Bank's extensive and expanding community branch network as well as the day-to-day operations of the Bank. Executive Vice President Richard Barton has been named as Chief Lending Officer and will be in charge of Banner Bank's commercial, real estate and consumer lending programs and policies, as well as the Bank's lending support activities. Senior Vice President Jill Rice has been named as Banner Bank's Senior Credit Officer.
Power Medical Interventions, Inc.
Power Medical Interventions, Inc. Receives NASDAQ Notice; Hearing Requested
LANGHORNE, Pa., Nov. 26, 2008 (GLOBE NEWSWIRE) -- Power Medical Interventions(r), Inc. (Nasdaq:PMII), a leader in developing and commercializing Intelligent Surgical Instruments(tm), today announced that, as expected, on November 21, 2008, the Company received a letter from the Listing Qualifications Staff of The NASDAQ Stock Market LLC (the "Staff Determination") notifying it that, based upon the Company's non-compliance with the $50 million market value of listed securities requirement for continued listing on The NASDAQ Global Market, as set forth in NASDAQ Marketplace Rule 4450(b)(1)(A), the Company's securities were subject to delisting from NASDAQ unless the Company requested a hearing before a NASDAQ Listing Qualifications Panel (the "NASDAQ Panel").
Whitney Holding Corporation
Whitney Receives Preliminary Approval to Participate in U.S. Treasury Capital Purchase Program
NEW ORLEANS, Nov. 26, 2008 (GLOBE NEWSWIRE) -- Whitney Holding Corporation (Nasdaq:WTNY) today announced it has received preliminary approval to participate in the U.S. Treasury Capital Purchase Program under the Emergency Economic Stabilization Act of 2008. Whitney is eligible to sell to the Treasury Department approximately $301 million in preferred stock and the related warrants for common stock. Participation in the program is subject to shareholder approval on December 17, 2008 at a special shareholders' meeting, to amend the charter permitting the issuance of the preferred stock required by the program, along with the execution of definitive agreements and Whitney's timely satisfaction of the Treasury Department's standard closing conditions.
TowneBank Receives Preliminary Approval for $76.5 Million Investment Under U.S. Treasury's TARP Program
SUFFOLK, Va., Nov. 26, 2008 (GLOBE NEWSWIRE) -- Hampton Roads based TowneBank (Nasdaq:TOWN) announced today that it has received preliminary approval for a $76.5 million investment from the U.S. Treasury Department under the TARP Capital Purchase Program. The TARP Capital Purchase Program is a voluntary program designed to provide capital for healthy banks and improve the flow of funds from banks to their customers. The preferred stock to be issued by the Company under the TARP Capital Purchase Program will carry a 5% dividend for each of the first 5 years of the investment, and 9% thereafter, unless the shares are redeemed by TowneBank. Additionally the Treasury will receive warrants on 538,310 shares of Towne Common Stock with an exercise price of $21.305.
Emisphere Technologies, Inc.
Emisphere Reports Receipt of Notification From NASDAQ Regarding Non-Compliance With Continued Listing Requirements
CEDAR KNOLLS, N.J., Nov. 26, 2008 (GLOBE NEWSWIRE) -- Emisphere Technologies, Inc. (Nasdaq:EMIS) previously announced that on October 21, 2008 it received a letter from the NASDAQ Stock Market advising that, for the 10 consecutive trading days prior to October 21, 2008, the Company's market value of listed securities had been below the minimum $35,000,000 requirement for continued inclusion on the NASDAQ Capital Market pursuant to NASDAQ Marketplace Rule 4310(c)(3)(B) (the "Rule").