latest news releases from the newsroom
Hudson's Grill International, Inc.
Hudson's Grill Announces the Opening of a New Hudson's Grill Restaurant by SYH Asbury, LLC
DALLAS, May 6, 2005 (PRIMEZONE) -- Hudson's Grill International, Inc. (OTCBB:HGIIA), based in Dallas, Texas, announced today that on May 3, 2005, SYH Asbury, LLC, an Iowa limited liability company, opened a new Hudson's Grill restaurant in Dubuque, Iowa. Susan Heim and her family are the principals behind SYH Asbury. The restaurant is in a free standing building located in Asbury Plaza, a new shopping center in Dubuque, Iowa.
Occidental Petroleum Corp.
Leonard Named Vice President and Controller of Occidental
LOS ANGELES, May 6, 2005 (PRIMEZONE) -- Occidental Petroleum Corporation (NYSE:OXY) announced today that its board of directors has elected Jim A. Leonard as Vice President and Controller. Leonard will have responsibility for Occidental's external financial reporting and technical accounting and consolidation functions, and will direct accounting support for all Occidental business units.
Citizens Bancshares Corporation
Citizens Bancshares Corporation Announces First Quarter Earnings for 2005
ATLANTA, May 6, 2005 (PRIMEZONE) -- Citizens Bancshares Corporation (OTCBB:CZBS) (the "Company"), the parent company of Citizens Trust Bank ("CTB"), today announced its 2005 first quarter earnings of $0.22 per diluted share compared to $0.32 per diluted share for the same period in the previous year. The decline in earnings per share is primarily due to a planned reduction of the Company's investment portfolio. Average investments decreased $23 million or 22 percent from the first quarter of 2004 to the first quarter of 2005 as the Company restructured its investment portfolio to reduce interest rate risk in a rising rate environment. As a result, total revenues for the first quarter of 2005 declined slightly by $162,000. Net income in the first quarter of 2005 was $460,000 compared to $662,000 in the first quarter of 2004. Noninterest income rose 5 percent to $1,256,000 in the first quarter 2005 compared to the same period a year ago. Noninterest expense increased 3 percent to $4,169,000 from $4,037,000 primarily due to salaries and benefit expenses. The Company decided to provide annual raises in the first quarter of 2005 instead of throughout the year, and started accruing bonuses for 2005 in anticipation of meeting certain earnings performance goals.
ATA Airlines, Inc.
ATA Reports April Scheduled Service Traffic
INDIANAPOLIS, May 6, 2005 (PRIMEZONE) -- ATA Airlines, Inc., the principal subsidiary of ATA Holdings Corp. (Pink Sheets:ATAHQ), today reported that April jet scheduled service traffic decreased 55.6 percent from 2004 to 502.0 million RPMs (revenue passenger miles). Capacity decreased 46.5 percent compared to 2004 to 793.6 million ASMs (available seat miles). ATA's April jet scheduled service passenger load factor decreased 13.1 points to 63.2 percent. There were 402,306 passengers enplaned in April, a decrease of 56.1 percent.
Harwood Feffer LLP
Wechsler Harwood LLP Announces Investigation of Archipelago Holdings, Inc. -- AX
NEW YORK, May 6, 2005 (PRIMEZONE) -- The law firm of Wechsler Harwood LLP, one of the leading firms in the country that represents investors, is investigating claims against Archipelago Holdings, Inc. ("Archipelago") (PCX:AX). The claims concern whether Archipelago is failing to maximize shareholder value in its proposed merger with the New York Stock Exchange ("NYSE"). Archipelago is taking advice in connection with that proposed merger from the Goldman Saks Group, Inc. ("Goldman") while Goldman, in an inherent conflict of interest position, is also rendering advice to the NYSE, and Goldman's former CEO is now head of the NYSE.
Occidental Petroleum Corp.
Spencer Abraham Elected to Occidental Board of Directors
LOS ANGELES, May 6, 2005 (PRIMEZONE) -- Occidental Petroleum Corporation (NYSE:OXY) announced today that former U.S. Secretary of Energy, Spencer Abraham, 52, was elected by the company's stockholders to its board of directors. Mr. Abraham joins 10 other independent, outside directors, and Dr. Ray R. Irani, Chairman, President and Chief Executive Officer, who were reelected to the board.