latest news releases from the newsroom
Clear Choice Financial, Inc.
Clear Choice Announces Insolvency and Restructuring of Operations
TEMPE, Ariz., Jan. 12, 2007 (PRIME NEWSWIRE) -- Clear Choice Financial, Inc. ("Clear Choice") (OTCBB:CLRC), a Nevada corporation, announced that it is insolvent and in default on numerous obligations. Clear Choice has officially closed the mortgage lending offices of its wholly owned subsidiary, Bay Capital, located in Owings Mills, Maryland and Irvine, California. Out of an original workforce of over 150 people, 120 have been released. The Company is in default of its lease of its corporate headquarters located in Tempe, Arizona and has been locked out of its facility and is in default of a note with its former CEO and major shareholder Stephen G. Luke, and is in default of a note due to the two former owners of Bay Capital, Inc. Its operating company, Bay Capital, has been forced to shut down various warehouse lines of credit.
The Children's Place, Inc.
The Children's Place Retail Stores, Inc. Names Ivy Ross Senior Vice President, Chief Creative Officer of Disney Store North America
SECAUCUS, N.J., Jan. 12, 2007 (PRIME NEWSWIRE) -- The Children's Place Retail Stores, Inc. (Nasdaq:PLCE), today announced the appointment of Ivy Ross, 51, as Senior Vice President, Chief Creative Officer, Hoop Retail Stores, LLC, the owner and operator of Disney Store North America. Ms. Ross will join the Disney Store on January 23, 2007, and report directly to Tara Poseley, President, Disney Store.