New $6.8 million air center at Ford Airport clears hurdle with judge's ruling - MLive.com

MLive.com File Photo

GRAND RAPIDS, MI — Leaders at Gerald R. Ford International Airport did not act improperly in approving a new $6.8 million private air center expected to begin taking shape this spring, a Kent County judge ruled last week.

The ruling, issued Friday by Judge James Robert Redford, effectively clears the way for construction to begin on the center being built by Muskegon-based Rothbury Executive Air on a 5-acre plot at the airport.

Two private air services already operating at the airport, Northern Air and Grand Rapids Air Center, alleged the board violated its own rules in approving the air center during two separate votes this year and last.

Northern Air and Grand Rapids Air Center claimed Ford Airport Board Chair Joseph Tomaselli violated the board’s standing rules by casting votes for the project because those guidelines only allow voting by the chair under certain circumstances.

The air services requested Redford issue a writ of mandamus, a judicial ruling that would have compelled Ford Airport’s six-person board to re-tally the May 2011 and Feburary 2012 that approved a zoning variance and lease agreement for Rothbury Executive Air.

In his nine-page ruling, Redford said Northern Air and Grand Rapids Air Service have no legal standing to force Ford Airport to adhere to its internal procedures, one of four conditions in issuing a writ of mandamus.

In denying the writ, Redford also pointed to a Federal Aviation Administration complaint filed in November 2011 against the airport by Northern Air and Grand Rapids Air Service over the approved zoning variance.

“The court is satisfied that plaintiffs are seeking an alternative administrative remedy at the same time they are requesting mandamus relief from this court,” Redford wrote in his ruling, referencing the FAA complaint. “Mandamus is only appropriate where ‘no other remedy exists that might achieve the same result.’”

Redford also denied Northern Air and Grand Rapids Air Center’s motion to issue a preliminary injunction against Executive Air’s new center, saying Ford Airport likely would incur “significant financial losses” as a result.

Robert Buchanan, Ford Airport’s attorney, said the airport is “pleased” and “vindicated” by Redford’s ruling.

“But by the same token, we feel as though we shouldn’t have had to go through that exercise,” Buchanan said. “The board isn’t in the business of reacting, it’s in the business of trying to pursue business opportunities, positive business opportunities, and this is just not helpful to have this kind of adversarial relationship over an issue like that.”

In a statement, Todd Dickinson, attorney for Northern Air, said Redford’s ruling against his client “will not alter the progress of our FAA administrative complaint.”

Dickinson went on to say the FAA complaint illustrates Ford Airport discriminated against Northern Air and Grand Rapids Air Center, and gave preferential treatment to Executive Air.

“We remain confident that the FAA will respond favorably to our complaint and require the Airport Board to correct these discriminatory practices or face the loss of federal funding, including the airport’s estimated $43 million, five-year capital improvement plan,” Dickinson said.

Leaders at Executive Air, which had planned to break ground in early May on the $6.8 million center, said those plans have been pushed back by about a month.

In a statement, Executive Air’s leaders said they are pleased with Redford’s ruling.

“We anticipated today’s favorable outcome … and continue to move forward with our exciting project,” the statement said.

Zane McMillin may be reached through email and Twitter.

View the original article here

Industrial Opportunity Partners Closes Fund II at $275 Million - StreetInsider.com

EVANSTON, Ill.--(BUSINESS WIRE)-- Operations-focused private equity firm Industrial Opportunity Partners (“IOP”) of Evanston, Ill. today announced the final close of its second fund, Industrial Opportunity Partners II, L.P. (“Fund II”), with $275 million of committed capital. IOP achieved its hard cap of $275 million for Fund II and was oversubscribed at its final closing, exceeding its original target of $250 million. The first closing of Fund II was held on February 15, 2012. IOP’s investor base is comprised of a group of institutional investors, including university endowments, foundations, pension plans, and funds-of-funds.

Founded in 2005, IOP focuses on acquiring and overseeing middle-market manufacturing and value-added distribution businesses, typically with revenues between $30 million and $350 million. IOP targets businesses with strong product, customer, and market positions and provides management and operational resources to support sales growth and operational improvements.

“We are excited to have completed raising Fund II so quickly and with such strong demand,” said Kenneth M. Tallering, Senior Managing Director of IOP. “We appreciate the support and confidence of our Limited Partners, and we look forward to the opportunity to create value in our Fund II portfolio companies and to achieve strong returns for our investors.”

IOP is differentiated by its operating resources led by its dedicated, full-time Board of Operating Principals – a cadre of operating executives, each with over 30 years of experience, who guide and assist management teams in stabilizing, enhancing, and growing the value of their businesses.

“IOP’s committed Board of Operating Principals was a key factor in surviving the recession and in creating value in our portfolio companies. We believe the talents of our team truly resonated with our investors,” said IOP Managing Director Robert M. Vedra. “We believe IOP is well-positioned to pursue a broad spectrum of investment situations, ranging from profitable businesses that require management or other support to reach their full potential to businesses experiencing operational or financial distress.”

IOP’s first fund, Industrial Opportunity Partners, L.P. (“Fund I”), totaled $185 million of committed capital and was raised in 2006 and 2007. Fund I has completed 18 acquisitions: eleven portfolio companies and seven add-ons.

The portfolio companies serve a variety of end markets, including transportation, construction, agriculture, building products, energy, and general industrial. In December, 2011, IOP completed its first full realization in its Fund I portfolio with the sale of FAS Controls, Inc., a manufacturer of electromechanical devices, pneumatic control valves and lighting products.

“We believe that the strength of our Fund I investment portfolio was a significant factor in the success of our Fund II fund raising efforts,” commented Adam R. Gottlieb, IOP Managing Director. “It also is a testament to IOP’s value orientation and ability to execute on operational improvement strategies.”

Park Hill Group LLC and Sidley Austin LLP served as placement agent and legal counsel, respectively, to IOP.

For more information, visit IOP’s website at http://www.iopfund.com.

Industrial Opportunity PartnersKenneth M. Tallering, (847) 556-3462Adam R. Gottlieb, (847) 556-3463Robert M. Vedra, (847) 556-3464

Source: Industrial Opportunity Partners

Press Releases

Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!

View the original article here

Legg Mason BW Global Income Opportunities Fund Raises $459 Million, Starts Trading on the NYSE - MSN Money

NEW YORK, March 28, 2012 /PRNewswire/ -- Legg Mason BW Global Income Opportunities Fund Inc. (the "Fund") announced today that pricing has been completed for its initial public offering.  The Fund raised approximately $459 million in its common stock offering, assuming full exercise of the underwriters' overallotment option, which may or may not occur.  Its shares began trading today on the New York Stock Exchange under the symbol "BWG".

The Fund's primary investment objective is to provide current income.  As a secondary investment objective, the Fund will seek capital appreciation.  There can be no assurance the Fund will achieve its investment objectives.

The Fund is a global, flexible portfolio that uses a macro-value oriented approach to invest across countries, currencies and credits. The Fund seeks to achieve its investment objectives by investing, under normal market conditions, at least 80% of its Managed Assets in global fixed-income securities. These may include, but are not limited to, sovereign debt of developed and emerging market countries, U.S. and non-U.S. corporate debt, mortgage-backed securities ("MBS") and currency exposure. The Fund may manage its currency exposure through the use of futures, forwards and other derivative instruments, for hedging and investment purposes. "Managed Assets" means the net assets of the Fund plus the principal amount of any borrowings by the Fund and assets attributable to any preferred stock issued by the Fund that may be outstanding. The Fund's specific investments will shift as the Fund rotates among countries, credits and currencies to find the most attractive values over time. Under normal market conditions, no more than 35% of the Fund's Managed Assets may be rated below investment grade (commonly known as "high yield" or "junk") by a nationally recognized statistical rating organization or determined to be of comparable quality; provided however, that the quality of a security will be based on the highest rating it receives.

"Given the low yields that continue to be found in U.S. fixed income, we are excited to introduce a strategy that can search broadly for the best yield opportunities across the global fixed income universe. Utilizing the specialized expertise of Brandywine Global Investment Management, the Legg Mason BW Global Income Opportunities Fund provides investors with a global fixed-income portfolio  that has the flexibility to capitalize on changing investment opportunities around the globe," stated Matt Schiffman, Head of Global Marketing for Legg Mason.

Legg Mason BW Global Income Opportunities Fund Inc. is a newly organized, non-diversified, closed-end management investment company which is advised by Legg Mason Partners Fund Advisor, LLC ("LMPFA") and subadvised by Brandywine Global Investment Management, LLC ("Brandywine Global"). LMPFA and Brandywine Global are wholly owned subsidiaries of Legg Mason, Inc. ("Legg Mason").

The underwriting syndicate was led by BofA Merrill Lynch, Citigroup Global Markets, Inc., Morgan Stanley, Ameriprise Financial Services, Inc.and UBS Investment Bank.

For more information, please contact the Fund at 1-888-777-0102 or visit the Fund's web site at www.leggmason.com/cef.

About Legg Mason

Legg Mason is a global asset management firm with $638 billion in assets under management as of February 29, 2012. The Company provides active asset management in many major investment centers throughout the world. Legg Mason is headquartered in Baltimore, Maryland, and its common stock is listed on the New York Stock Exchange (symbol: LM).

About Brandywine Global:

Founded in 1986, Brandywine Global Investment Management, LLC ("Brandywine Global"), offers an array of equity, fixed income, and balanced portfolios that invest in U.S., international, and global markets. The firm was recently named "Global Bond Manager of the Year" by Institutional Investor magazine.[1]  As of 12/31/2011 Brandywine Global manages $33 billion in assets. The firm is a wholly owned, independently operated subsidiary of Legg Mason, Inc. LM, and is headquartered in Philadelphia with an office in San Francisco. Brandywine Global also operates two affiliated companies with offices inSingapore and London. 

Investors should consider the investment objective, risks, charges and expenses of the Fund carefully before investing. This press release and the prospectus, which contains this and other information about the Fund, should be read carefully before investing. A copy of the final prospectus relating to these securities may be obtained by contacting your financial advisor.

Data and commentary provided in this press release are for informational purposes only. Legg Mason and its affiliates do not engage in selling shares of the Fund. The Fund's common stock is traded on the New York Stock Exchange. Similar to stocks, the Fund's share price will fluctuate with market conditions and, at the time of sale, may be worth more or less than the original investment. Shares of closed-end funds often trade at a discount to their net asset value. All investments are subject to risk, including the risk of loss. Fixed income securities are subject to various risks, including but not limited to, credit, inflation, income, prepayment and interest rates risks. As interest rates increase, the value of fixed income securities decrease. High yield ("junk bonds") are subject to additional credit risk and a greater risk of default. International investments are subject to additional risks due to currency fluctuations, changes in interest rates and other factors. These risks are greater for emerging markets securities. The Fund's investments in mortgage-backed securities involve additional risks. The Fund may invest in foreign currencies or currency derivatives which may increase the risk and volatility of the Fund. The Fund may invest in illiquid securities and securities/investments that have a leveraging effect on the portfolio which will increase the risks of the Fund. The Fund may make significant investments in derivative instruments. Derivative instruments can be illiquid, may disproportionately increase losses and have a potentially large impact on Fund performance.

 This press release contains "forward-looking statements" as defined under the U.S. federal securities laws. Generally, the words "believe," "expect," "intend," "estimate," "anticipate," "project," "will," and similar expressions identify forwardlooking statements, which generally are not historical in nature. Forward-looking statements are subject to certain risks and uncertainties that could cause actual future results to differ significantly from the Fund's present expectations or projections indicated in any forward-looking statements. These risks include, but are not limited to, changes in economic and political conditions; regulatory and legal changes; leverage risk; valuation risk; interest rate risk; tax risk; the volume of sales and purchase of shares; the continuation of investment advisory, administration and other service arrangements; and other risks discussed in the Fund's filings with the Securities and Exchange Commission. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. The Fund undertakes no obligation to publicly update or revise any forward-looking statements made herein. There is no assurance that the Fund's investment objective will be attained.

[1]  Brandywine Global Investment was named Global Fixed Income Manager of the Year as part of Institutional Investor's third annual 2012 U.S. Investment Management Awards. The awards recognize U.S. money managers across asset classes, strategies and product types that stood out in the eyes of the investor community for their exceptional performance, risk management and customer service. In selecting the winners, Institutional Investor began by analyzing data; looking at 2011 returns, asset size and other valuation criteria. From that review, the magazine surveyed 1,000 institutions; and used the results of that survey to tabulate the winners. The Manager of the Year award was not issued for any particular strategy or fund.

SOURCE Legg Mason, Inc.

View the original article here

Microsoft and Nokia to Invest Up to 18 Million Euros in Mobile Application Development Program at Aalto University

HELSINKI, Finland, March 26, 2012 /PRNewswire/ -- To drive innovation and business opportunities in Finland's mobile ecosystem and beyond, Microsoft Corp. and Nokia will each invest up to 9 million euros into a newly established mobile application development program at Aalto University during the next three years. The AppCampus program has been set up to foster the creation of innovative mobile applications for the Windows Phone ecosystem, and in addition Nokia platforms, including Symbian and Series 40, to create a new generation of self-sustaining mobile startups.

(Logo:  http://photos.prnewswire.com/prnh/20000822/MSFTLOGO)

Kicking off in May 2012, the Finland-based program will be led and managed by Aalto University, which has a growing reputation as a hotbed of new startup companies. AppCampus is intended to attract thousands of application proposals from students and entrepreneurs from all over the world. Aalto University will make a significant contribution to the project by providing premises, coaching services, and access to both academic and business networks for budding app developers.

Within the AppCampus program, mobile entrepreneurs can benefit from comprehensive support, training in mobile technology, design and usability, and funding to create innovative new mobile apps and services. Windows Phone Marketplace and Nokia Store offer local and global business opportunities to program participants via distribution to consumers around the world.

Mentored by veterans in the mobile industry, program participants will be given insights and business coaching to help them commercialize their ideas while retaining the full intellectual property rights for their innovations.

"The ICT industry and knowledge base in Finland is one of the most competitive in the world, particularly in the mobile technology field," said Jyrki Katainen, Finnish prime minister, at the launch event for the AppCampus program in Helsinki. "Finland is an early-adopter market, and the significance of national education and technology innovation is deeply rooted in our culture. As a result, there is a growing appetite for entrepreneurship among the younger generation at Aalto University and beyond. The partnership between Microsoft and Nokia is a critical investment in this growing ecosystem and represents an exciting opportunity and access to global markets for our local startup community."

"AppCampus offers an unprecedented opportunity for entrepreneurs to put their ideas into practice and create world-class mobile products," said Klaus Holse, president, Microsoft Western Europe. "We want to turn a new leaf in the mobile industry and foster Finland's role as a center of excellence for mobile technology. Such investment into early-stage concepts has rarely been seen in this sector, and this demonstrates how highly both Nokia and Microsoft value Finnish mobile expertise."

"We are proud to announce this new program, which will enable new and existing developers to create next-generation mobile apps and unique user experiences," said Kai Oistamo, executive vice president, Nokia Corp. "The partnership will allow developers to ideate and monetize business opportunities globally, via both Windows Phone Marketplace and Nokia Store."

"An essential part of Aalto University's mission is to strengthen Finland's competitiveness," said Tuula Teeri, president of Aalto University. "We are pleased to host this initiative, which concretely boosts utilization of new knowledge and skills in creation of new entrepreneurial ventures."

"Through our technology transfer and Aalto Venture Garage activities, the Aalto University community has been able to help catalyze the creation and growth of more than 30 companies during the past two years, with a number of them having mobile applications," said Will Cardwell, head of the Aalto University Center for Entrepreneurship, which will be charged with managing the program. "The people and ideas we work with hail from all corners of the world, and our partnership with Microsoft and Nokia will further strengthen our global network. This program will provide a unique opportunity to turn application ideas into real business with the support of world-class partners and coaches."

"Within our student community, we have a strong mission to boost entrepreneurship and to create more startups," said Teemu Tapanila, a board member of the Aalto Entrepreneurship Society and leader of the Windows Phone Aalto community. "We warmly welcome the opportunities and networks brought by this cooperation."

On the AppCampus Program

Mobile entrepreneurs can apply for grants within the AppCampus program beginning in May 2012. More information can be found at http://appcampus.aalto.fi.

About Nokia

Nokia is a global leader in mobile communications whose products have become an integral part of the lives of people around the world. Every day, more than 1.3 billion people use their Nokia to capture and share experiences, access information, find their way or simply to speak to one another. Nokia's technological and design innovations have made its brand one of the most recognized in the world. For more information, visit http://www.nokia.com/about-nokia.

About the Aalto University Center for Entrepreneurship

The Aalto Center for Entrepreneurship (ACE) at Aalto University, Finland, offers innovation, commercialization, and start-up services for Aalto University researchers, students and other stakeholders. In addition, we facilitate innovation and growth entrepreneurship by co-creating research and education of these areas across all the Aalto schools. ACE partially funds and participates in the award-winning Aalto Venture Garage and Startup Sauna open source seed accelerator. For more information, visit www.aalto.fi and http://ace.aalto.fi.

About Microsoft

Founded in 1975, Microsoft (Nasdaq: MSFT - News) is the worldwide leader in software, services and solutions that help people and businesses realise their full potential.

About Microsoft EMEA (Europe, Middle East and Africa)

Microsoft has operated in EMEA since 1982. In the region Microsoft employs more than 16,000 people in over 64 subsidiaries, delivering products and services in more than 139 countries and territories.

This material is for informational purposes only. Microsoft Corp disclaims all warranties and conditions with regard to use of the material for other purposes. Microsoft Corp shall not, at any time, be liable for any special, direct, indirect or consequential damages, whether in an action of contract, negligence or other action arising out of or in connection with the use or performance of the material. Nothing herein should be construed as constituting any kind of warranty.

View the original article here

Microsoft and Nokia to Invest Up to 18 Million Euros in Mobile Application Development Program at Aalto University - Microsoft Presspass

HELSINKI, Finland — March 26, 2012 — To drive innovation and business opportunities in Finland’s mobile ecosystem and beyond, Microsoft Corp. and Nokia will each invest up to 9 million euros into a newly established mobile application development program at Aalto University during the next three years. The AppCampus program has been set up to foster the creation of innovative mobile applications for the Windows Phone ecosystem and in addition, Nokia platforms, including Symbian and Series 40, to create a new generation of self-sustaining mobile startups.

Kicking off in May 2012, the Finland-based program will be led and managed by Aalto University, which has a growing reputation as a hotbed of new startup companies. AppCampus is intended to attract thousands of application proposals from students and entrepreneurs from all over the world. Aalto University will make a significant contribution to the project by providing premises, coaching services, and access to both academic and business networks for budding app developers.

Within the AppCampus program, mobile entrepreneurs can benefit from comprehensive support, training in mobile technology, design and usability, and funding to create innovative new mobile apps and services. Windows Phone Marketplace and Nokia Store offer local and global business opportunities to program participants via distribution to consumers around the world.

Mentored by veterans in the mobile industry, program participants will be given insights and business coaching to help them commercialize their ideas while retaining the full intellectual property rights for their innovations.

“The ICT industry and knowledge base in Finland is one of the most competitive in the world, particularly in the mobile technology field,” said Jyrki Katainen, Finnish prime minister, at the launch event for the AppCampus program in Helsinki. “Finland is an early-adopter market, and the significance of national education and technology innovation is deeply rooted in our culture. As a result, there is a growing appetite for entrepreneurship among the younger generation at Aalto University and beyond. The partnership between Microsoft and Nokia is a critical investment in this growing ecosystem and represents an exciting opportunity and access to global markets for our local startup community.”

“AppCampus offers an unprecedented opportunity for entrepreneurs to put their ideas into practice and create world-class mobile products,” said Klaus Holse, president, Microsoft Western Europe. “We want to turn a new leaf in the mobile industry and foster Finland’s role as a center of excellence for mobile technology. Such investment into early-stage concepts has rarely been seen in this sector, and this demonstrates how highly both Nokia and Microsoft value Finnish mobile expertise.”

“We are proud to announce this new program, which will enable new and existing developers to create next-generation mobile apps and unique user experiences,” said Kai Öistämö, executive vice president, Nokia Corp. “The partnership will allow developers to ideate and monetize business opportunities globally, via both Windows Phone Marketplace and Nokia Store.”

“An essential part of Aalto University’s mission is to strengthen Finland’s competitiveness,” said Tuula Teeri, president of Aalto University. “We are pleased to host this initiative, which concretely boosts utilization of new knowledge and skills in creation of new entrepreneurial ventures.”

“Through our technology transfer and Aalto Venture Garage activities, the Aalto University community has been able to help catalyze the creation and growth of more than 30 companies during the past two years, with a number of them having mobile applications,” said Will Cardwell, head of the Aalto University Center for Entrepreneurship, which will be charged with managing the program. “The people and ideas we work with hail from all corners of the world, and our partnership with Microsoft and Nokia will further strengthen our global network. This program will provide a unique opportunity to turn application ideas into real business with the support of world-class partners and coaches.”

“Within our student community, we have a strong mission to boost entrepreneurship and to create more startups,” said Teemu Tapanila, a board member of the Aalto Entrepreneurship Society and leader of the Windows Phone Aalto community. “We warmly welcome the opportunities and networks brought by this cooperation.”

On the AppCampus Program

Mobile entrepreneurs can apply for grants within the AppCampus program beginning in May 2012. More information can be found at http://appcampus.aalto.fi.

About Nokia

Nokia is a global leader in mobile communications whose products have become an integral part of the lives of people around the world. Every day, more than 1.3 billion people use their Nokia to capture and share experiences, access information, find their way or simply to speak to one another. Nokia’s technological and design innovations have made its brand one of the most recognized in the world. For more information, visit http://www.nokia.com/about-nokia.

About the Aalto University Center for Entrepreneurship

The Aalto Center for Entrepreneurship (ACE) at Aalto University, Finland, offers innovation, commercialization, and start-up services for Aalto University researchers, students and other stakeholders. In addition, we facilitate innovation and growth entrepreneurship by co-creating research and education of these areas across all the Aalto schools. ACE partially funds and participates in the award-winning Aalto Venture Garage and Startup Sauna open source seed accelerator. For more information, visit www.aalto.fi and http://ace.aalto.fi.

About Microsoft

Founded in 1975, Microsoft (Nasdaq “MSFT”) is the worldwide leader in software, services and solutions that help people and businesses realise their full potential.

About Microsoft EMEA (Europe, Middle East and Africa)

Microsoft has operated in EMEA since 1982. In the region Microsoft employs more than 16,000 people in over 64 subsidiaries, delivering products and services in more than 139 countries and territories.

This material is for informational purposes only. Microsoft Corp disclaims all warranties and conditions with regard to use of the material for other purposes. Microsoft Corp shall not, at any time, be liable for any special, direct, indirect or consequential damages, whether in an action of contract, negligence or other action arising out of or in connection with the use or performance of the material. Nothing herein should be construed as constituting any kind of warranty.

Note to editors: For more information, news and perspectives from Microsoft, please visit the Microsoft News Center at http://www.microsoft.com/news. Web links, telephone numbers and titles were correct at time of publication, but may have changed. For additional assistance, journalists and analysts may contact Microsoft’s Rapid Response Team or other appropriate contacts listed at http://www.microsoft.com/news/contactpr.mspx.

View the original article here

Watsco to Acquire 60% of Carrier’s $330 Million Canadian Distribution Business - Yahoo Finance

Mon, Mar 26, 2012, 8:39 AM EDT - U.S. Markets open in 51 mins.

Sorry, I could not read the content fromt this page.

View the original article here

Watsco to Acquire 60% of Carrier’s $330 Million Canadian Distribution Business - Yahoo Finance

Wed, Mar 14, 2012, 9:24 AM EDT - U.S. Markets open in 6 mins.

Sorry, I could not read the content fromt this page.

View the original article here

Green Asset International Inc. Dedicates Unprecedented $100 Million Funding Facility to Medical Marijuana Division

BEVERLY HILLS, Calif., March 14, 2012 /PRNewswire-iReach/ -- Green media executive Cheryl Shuman announced today that Green Asset International Inc. (GreenAssetInc.com) is dedicating an unprecedented US $100 Million funding facility to develop the corporatization and rebranding of the cannabis industry's ancillary businesses.

(Photo: http://photos.prnewswire.com/prnh/20120314/CG70009)

Green Asset International Inc. C.E.O. Cheryl Shuman will review and acquire legal businesses within the medical cannabis industry. Shuman estimates at least a billion dollars in current ancillary business opportunities.  As one of the world's most respected voices of the movement, it's Shuman's challenge and responsibility to remove the negative stigma and stereotypes of the cannabis user.   Real men and women in the corporate world are taking a stand to make a change by boldly 'coming out to the closet' to show their support and the validity of this great, growth-potential business by investing in the cannabis sector.

Green Asset announced the formation of the cannabis industry's first acquisition vehicle to take advantage of the $1.7 billion medical marijuana market.  To further assist investors, Green Asset will host a series of symposiums to share information and present opportunities to these potential investors.

Green Asset plans to target for acquisition cutting-edge medical and social media companies, with a focus on consolidating those sectors.  The funding agreement is broad and allows Green Asset to fund its objective of finding and acquiring established companies in expanding medical and social media fields and consolidating them for maximum efficiency and profitability. Green Asset will target for purchase profitable and successful companies that need more capital to reach their full potential.

"This creates a wonderful opportunity for entrepreneurs and smart investors to be on the ground floor of this exciting and groundbreaking industry.  There are great financial rewards coupled with a chance to be involved in a hot ticket business that is on the cutting edge", said Green Asset CEO Cheryl Shuman.

"The beautiful thing about the cannabis plant is that it not only has the ability to heal a multitude of illnesses, it also has the power to heal the economy by creating desperately needed jobs that can grow small businesses.  Even in the face of this dismal national economy, the legal medical cannabis industry is growing and creating those jobs.  There is a huge network of educated and sophisticated cannabis consuming investors that envision enormous rewards financially, environmentally and socially.  It's a win-win-win," said Shuman.

Many investment groups and businesses have shown serious interest in the great opportunities inclusive in this sector but have not done so yet, partially due to a lack of information.  Green Asset addresses this by educating with market data and knowledge.

Experts and investors agree that this industry has a great deal of promise.  The formation of Green Asset, and the subsequent great response to it, is indicative of the evolvement of this industry and provides investors with the best opportunities.

The Green Asset Symposiums are the next logical step for the medical cannabis industry and follow in the footsteps of the many other industries that have educated investors on start-ups, such as the bio-tech and green industries.

The medical marijuana business has a five-year market potential of $8.7 billion and sales in 2011 were reported at $1.3 billion according to the See Change Strategy market report. (http://medicalmarijuanamarkets.com/)

CEO Cheryl Shuman brings 25 years of experience working with media, celebrities, marketing and health care in Beverly Hills. Since 1996, Shuman has been pursuing her passion in the alternative health and social movement working as a medical cannabis activist and legal cannabis patient.   Using cannabis and other alternative health options, Shuman has survived cancer and injuries from two car crashes. She is the former Executive Director of Beverly Hills NORML and Director of Celebrity, Media and Public Relations for KUSH Magazine.  She is an expert in anti-aging, alternative healthcare and community activism.

"The therapeutic value of socialization and the building of community cannot be overstated. The right of patients to peaceably assemble - to socialize and build family and community, and network and organize - is paramount for their health and recovery. Our social networking platforms and development and marketing of alternative medical treatment options will provide fellowship for consumers, patients and activists internationally," states Shuman.

"We as a modern society can fiscally improve our budget by moving cannabis from the criminal sector into the lawful sector," Shuman said. "This is not a left or right issue -- it's really common sense. Regulation and taxation of marijuana could produce billions of dollars in additional tax revenue, as well as save on the enormous costs of law enforcement. Bottom line is the prohibition of marijuana has been a fiscal fiasco. Green Asset's group of investors is the answer to resolving these issues. Green Asset represents the largest financial commitment for cannabis related investment in history. For additional information see: www.GreenAssetInc.com"

Media Contact: Cheryl Shuman Green Asset International Inc., 310-779-4797, Cheryl.Shuman@GreenAssetInc.com

News distributed by PR Newswire iReach: https://ireach.prnewswire.com

View the original article here

Green Asset International Inc. Dedicates Unprecedented $100 Million Funding Facility to Medical Marijuana Division - PR Newswire

BEVERLY HILLS, Calif., March 14, 2012 /PRNewswire-iReach/ -- Green media executive Cheryl Shuman announced today that Green Asset International Inc. (GreenAssetInc.com) is dedicating an unprecedented US $100 Million funding facility to develop the corporatization and rebranding of the cannabis industry's ancillary businesses.

(Photo: http://photos.prnewswire.com/prnh/20120314/CG70009)

Green Asset International Inc. C.E.O. Cheryl Shuman will review and acquire legal businesses within the medical cannabis industry. Shuman estimates at least a billion dollars in current ancillary business opportunities.  As one of the world's most respected voices of the movement, it's Shuman's challenge and responsibility to remove the negative stigma and stereotypes of the cannabis user.   Real men and women in the corporate world are taking a stand to make a change by boldly 'coming out to the closet' to show their support and the validity of this great, growth-potential business by investing in the cannabis sector.

Green Asset announced the formation of the cannabis industry's first acquisition vehicle to take advantage of the $1.7 billion medical marijuana market.  To further assist investors, Green Asset will host a series of symposiums to share information and present opportunities to these potential investors.

Green Asset plans to target for acquisition cutting-edge medical and social media companies, with a focus on consolidating those sectors.  The funding agreement is broad and allows Green Asset to fund its objective of finding and acquiring established companies in expanding medical and social media fields and consolidating them for maximum efficiency and profitability. Green Asset will target for purchase profitable and successful companies that need more capital to reach their full potential.

"This creates a wonderful opportunity for entrepreneurs and smart investors to be on the ground floor of this exciting and groundbreaking industry.  There are great financial rewards coupled with a chance to be involved in a hot ticket business that is on the cutting edge", said Green Asset CEO Cheryl Shuman.

"The beautiful thing about the cannabis plant is that it not only has the ability to heal a multitude of illnesses, it also has the power to heal the economy by creating desperately needed jobs that can grow small businesses.  Even in the face of this dismal national economy, the legal medical cannabis industry is growing and creating those jobs.  There is a huge network of educated and sophisticated cannabis consuming investors that envision enormous rewards financially, environmentally and socially.  It's a win-win-win," said Shuman.

Many investment groups and businesses have shown serious interest in the great opportunities inclusive in this sector but have not done so yet, partially due to a lack of information.  Green Asset addresses this by educating with market data and knowledge.

Experts and investors agree that this industry has a great deal of promise.  The formation of Green Asset, and the subsequent great response to it, is indicative of the evolvement of this industry and provides investors with the best opportunities.

The Green Asset Symposiums are the next logical step for the medical cannabis industry and follow in the footsteps of the many other industries that have educated investors on start-ups, such as the bio-tech and green industries.

The medical marijuana business has a five-year market potential of $8.7 billion and sales in 2011 were reported at $1.3 billion according to the See Change Strategy market report. (http://medicalmarijuanamarkets.com/)

CEO Cheryl Shuman brings 25 years of experience working with media, celebrities, marketing and health care in Beverly Hills. Since 1996, Shuman has been pursuing her passion in the alternative health and social movement working as a medical cannabis activist and legal cannabis patient.   Using cannabis and other alternative health options, Shuman has survived cancer and injuries from two car crashes. She is the former Executive Director of Beverly Hills NORML and Director of Celebrity, Media and Public Relations for KUSH Magazine.  She is an expert in anti-aging, alternative healthcare and community activism.

"The therapeutic value of socialization and the building of community cannot be overstated. The right of patients to peaceably assemble - to socialize and build family and community, and network and organize - is paramount for their health and recovery. Our social networking platforms and development and marketing of alternative medical treatment options will provide fellowship for consumers, patients and activists internationally," states Shuman.

"We as a modern society can fiscally improve our budget by moving cannabis from the criminal sector into the lawful sector," Shuman said. "This is not a left or right issue -- it's really common sense. Regulation and taxation of marijuana could produce billions of dollars in additional tax revenue, as well as save on the enormous costs of law enforcement. Bottom line is the prohibition of marijuana has been a fiscal fiasco. Green Asset's group of investors is the answer to resolving these issues. Green Asset represents the largest financial commitment for cannabis related investment in history. For additional information see: www.GreenAssetInc.com"

Media Contact: Cheryl Shuman Green Asset International Inc., 310-779-4797, Cheryl.Shuman@GreenAssetInc.com

News distributed by PR Newswire iReach: https://ireach.prnewswire.com

SOURCE Green Asset International Inc.

Back to top

RELATED LINKS
http://www.GreenAssetInc.com

View the original article here

First Marblehead Sells Legacy Trust Administration Business for $13.7 Million in Cash

BOSTON, MA--(Marketwire -03/02/12)- The First Marblehead Corporation (NYSE: FMD - News) today announced the sale of First Marblehead Data Services, Inc. ("FMDS"), its legacy trust administration business, to Route 66 Ventures, Inc., d/b/a Goal Structured Solutions ("GS2"), for $13.7 million in cash. The Company expects to record a gain of approximately $12.5 million in the quarter ending March 31, 2012 related to this transaction.

"The sale of FMDS is in line with our strategic focus on new business opportunities and product lines that are critical to the future success of First Marblehead," said Daniel Meyers, President and CEO of the Company. "While FMDS has historically been a profitable complement to our private student loan securitization business, we would not expect FMDS to administer future securitization trusts that we may facilitate in connection with our Monogram® platform. This sale allows the Company to continue to focus on the future, and redeploy resources for growing the business."

"We are excited by this opportunity to expand our trust administration business," said Ken Ruggiero, CEO of GS2. "Since our founding, we have been critically focused on this business and believe the investments we have made to date in people, process and technology will enable us to efficiently integrate FMDS while continuing to provide the same high level of service that our customers have come to expect."

About The First Marblehead Corporation - First Marblehead helps meet the need for education financing by offering national and regional financial institutions and educational institutions the Monogram® platform, an integrated suite of design, implementation and credit risk management services for private label, customizable private education loan programs. For more information, go to www.firstmarblehead.com. First Marblehead supports responsible lending and is a strong proponent of the smart borrowing principle, which encourages students to access scholarships, grants and federally-guaranteed loans before considering private education loans; please see www.SmartBorrowing.org. Through its subsidiary, Union Federal(SM) Savings Bank, First Marblehead offers private education loans, residential and commercial mortgage loans, and retail savings, money market and time deposit products. For more information, go to www.unionfsb.com. First Marblehead also offers outsourced tuition planning, billing and payment technology services, as well as refund management services, through its subsidiary Tuition Management Systems LLC. For more information, go to www.afford.com.

About Goal Structured Solutions - Goal Structured Solutions provides trust administration, loan management, performance analytics and capital markets advisory services to the student loan finance market. Its services are used by investors and issuers to more effectively manage their returns, asset performance and compliance. Founded in December 2007 and based in San Diego, CA, the company manages over $19 billion in federal and private student loans across more than 40 trust structures.

Statements in this press release regarding First Marblehead's strategy and future financial and operating results, including the expected gain from the sale of First Marblehead Data Services, Inc. to Route 66 Ventures, Inc. d/b/a Goal Structured Solutions (the "Transaction"), the redeployment of resources and the future growth of First Marblehead's business, as well as any other statements that are not purely historical, constitute forward-looking statements for purposes of the safe harbor provisions of The Private Securities Litigation Reform Act of 1995. These forward-looking statements are based upon our historical performance and on our plans, estimates and expectations as of March 2, 2012. The inclusion of this forward-looking information should not be regarded as a representation by us or any other person that the future results, plans, estimates, intentions or expectations expressed or implied by us will be achieved. You are cautioned that matters subject to forward-looking statements involve known and unknown risks and uncertainties, including economic, legislative, regulatory, competitive and other factors, which may cause actual financial or operating results, including gains, efficiencies or benefits related to the Transaction, or the timing of events, to be materially different than those expressed or implied by forward-looking statements. Important factors that could cause or contribute to such differences include: market acceptance of, and demand for, our Monogram platform and fee-based service offerings; the volume, timing and performance of facilitated student loans; capital markets conditions and our ability to structure securitizations or alternative financings; the size, structure and timing of any such securitizations or alternative financings; any investigation, audit, claim, regulatory action or suit relating to the transfer of the trust certificate of NC Residuals Owners Trust or the asset services agreement between the purchaser and First Marblehead, including as a result of the audit being conducted by the Internal Revenue Service relating to tax refunds previously received; our ability to execute our business strategies, redeploy resources and otherwise realize the anticipated benefits of the Transaction; our successful performance of our obligations under agreements relating to the Transaction, including a transition services agreement; post-closing purchase price adjustments and our indemnification obligations in connection with the Transaction; and the other factors set forth under the caption "Part II - Item 1A. Risk Factors" in First Marblehead's quarterly report on Form 10-Q filed with the Securities and Exchange Commission on February 9, 2012. We specifically disclaim any obligation to update any forward-looking statements as a result of developments occurring after the date of this press release, and you should not rely on those statements as representing our views as of any date subsequent to the date of this press release.

View the original article here

CANWE STUDIOS Raises $1.5 Million in Funding Through Private Investors to Launch CanWeNetwork Mobile App

AUSTIN, TX--(Marketwire -03/01/12)- CANWE STUDIOS LLC, a mobile application development company, today announced that it has secured $1.5 million in funding through private investors. The first application of the matching technology scheduled to come to market this summer is CanWeNetwork, which utilizes proprietary technology that will allow business professionals to meet and network with high-value peers seeking new business opportunities.

Founded in 2011 by Brooke Braswell and Dan Kloiber, CANWE STUDIOS is building a platform for social location-based apps that match individuals in the right context. The fundraising round was led by Kloiber, a successful angel investor and technology entrepreneur, who has founded and sold three software companies to Fortune 100 corporations, and currently sits on a number of technology start-up boards.

"The CanWeNetwork app meets a very critical demand in the marketplace today by having the ability to select and connect business professionals who would like to meet in real time and in person," said Kloiber. "The CanWeNetwork app is very different than other mobile social networking apps available today because it is designed to select high-value personal introductions that open up new opportunities for each individual that otherwise would have been missed."

"Our investors believe that the CanWeNetwork app will become a valuable resource for all types of professionals, across multiple verticals, to create real life intersection opportunities," said Brooke Braswell, CEO of CANWE STUDIOS. "With this app, no meeting will ever be a waste of time."

The CanWeNetwork app is currently accepting requests for its invite-only testing phase. It uses matching technology to ensure that business professionals are intelligently matched with other high-value business professionals seeking opportunities. It is expected to be available for the iPhone and Android phones this summer for download as a free app. The company will provide demonstrations of CanWeNetwork at the upcoming SXSW Interactive show.

ABOUT CANWE STUDIOS
Austin, TX-based CANWE STUDIOS is a mobile application development company building a platform for social geospacial apps that match individuals in context, including business, recruitment and nightlife. More information about the company can be found at http://canwestudios.com.

ABOUT CanWeNetwork
Developed by CANWE STUDIOS, the CanWeNetwork app is an innovative mobile app that is designed to select and connect business professionals with other business professionals ensuring there are no opportunities missed. It is a valuable mobile tool for individuals seeking high-value introductions.

For the latest updates, follow CanWeNetwork on Twitter at http://twitter.com/canwenetwork. More information can be found at http://canwenetwork.com

View the original article here

EU Webinar EFactor Presents How to Start a Multi Million Dollar Online Business 20120131 1309 1

Sorry, I could not read the content fromt this page.

View the original article here

Businesses Qualify for $67 Million in Tax Credits - Canton Daily Ledger

Illinois businesses qualified for $67 million in income tax credits after hiring individuals covered through the Work Opportunity Tax Credit (WOTC), the Illinois Department of Employment Security (IDES) announced today. The federal incentive reduces an employer’s cost of doing business while helping those most in need gain valuable work experience. IDES administers the federal program.
“This valuable program helps a business owner improve the bottom line and offers a hand up to those who want to make a better life for themselves and their family,” IDES Director Jay Rowell said. “This is real progress in helping businesses compete, assisting individuals to find gainful employment, and improving the Illinois economy. It also shows that employers increasingly view IDES as an employment agency.”
The WOTC incentives allow business owners to keep more of their money by hiring from historically disenfranchised groups. In 2011, the majority of the tax credit involved businesses who hired an individual receiving state financial assistance. In this way, the program benefits the state as a whole, as new jobs increase the likelihood that the state support will be reduced or no longer needed.
More than 27,000 individuals were hired under the WOTC program in 2011. Tax incentives range from $2,400 in one year to $9,600 over two years, depending on the new hire. The $67 million in savings represents 2011 activity that would be entered in federal tax returns in 2012.
The specific categories include individuals receiving Temporary Assistance for Needy Families; qualified military veterans; qualified ex-felons; a designated community resident who lives in a renewal zone; vocational rehabilitation referrals with a physical or mental impairment and who have received vocational or employment training; summer youth employees; qualified food stamp recipient; and a qualified supplemental security income beneficiary.
Employers claim the federal tax credit using IRS Form 5884. Looking at 2012, businesses can apply for WOTC certification for a new hire in three steps. Pre-screen individuals using IRS Form 8850, called the “pre-Screening Notice & Certification Request for Work Opportunity Credit.” Then, complete the ETA Form 9061, called the “Individual Characteristics Form.” Finally, mail the original, signed forms to IDES’ WOTC Unit within 28 days of the new hire’s start state. It is recommended that copies of the form be kept with the business. Forms and details are available at www.ides.illinois.gov/wotc
The IDES supports economic stability by administering unemployment benefits, collecting business contributions to fund those benefits, connecting employers with qualified job seekers, and providing economic information to assist career planning and economic development. It does so through nearly 60 offices, including Illinois workNet centers.

Illinois businesses qualified for $67 million in income tax credits after hiring individuals covered through the Work Opportunity Tax Credit (WOTC), the Illinois Department of Employment Security (IDES) announced today. The federal incentive reduces an employer’s cost of doing business while helping those most in need gain valuable work experience. IDES administers the federal program.
“This valuable program helps a business owner improve the bottom line and offers a hand up to those who want to make a better life for themselves and their family,” IDES Director Jay Rowell said. “This is real progress in helping businesses compete, assisting individuals to find gainful employment, and improving the Illinois economy. It also shows that employers increasingly view IDES as an employment agency.”
The WOTC incentives allow business owners to keep more of their money by hiring from historically disenfranchised groups. In 2011, the majority of the tax credit involved businesses who hired an individual receiving state financial assistance. In this way, the program benefits the state as a whole, as new jobs increase the likelihood that the state support will be reduced or no longer needed.
More than 27,000 individuals were hired under the WOTC program in 2011. Tax incentives range from $2,400 in one year to $9,600 over two years, depending on the new hire. The $67 million in savings represents 2011 activity that would be entered in federal tax returns in 2012.
The specific categories include individuals receiving Temporary Assistance for Needy Families; qualified military veterans; qualified ex-felons; a designated community resident who lives in a renewal zone; vocational rehabilitation referrals with a physical or mental impairment and who have received vocational or employment training; summer youth employees; qualified food stamp recipient; and a qualified supplemental security income beneficiary.
Employers claim the federal tax credit using IRS Form 5884. Looking at 2012, businesses can apply for WOTC certification for a new hire in three steps. Pre-screen individuals using IRS Form 8850, called the “pre-Screening Notice & Certification Request for Work Opportunity Credit.” Then, complete the ETA Form 9061, called the “Individual Characteristics Form.” Finally, mail the original, signed forms to IDES’ WOTC Unit within 28 days of the new hire’s start state. It is recommended that copies of the form be kept with the business. Forms and details are available at www.ides.illinois.gov/wotc
The IDES supports economic stability by administering unemployment benefits, collecting business contributions to fund those benefits, connecting employers with qualified job seekers, and providing economic information to assist career planning and economic development. It does so through nearly 60 offices, including Illinois workNet centers.

View the original article here

Businesses Qualify for $67 Million in Tax Credits in 2011 - msnbc.com

CHICAGO-- More than $67 million in income tax credits was given to Illinois businesses last year, according to a statement released Tuesday by the Illinois Department of Employment Security.

The money, made available through the federal program called the Work Opportunity Tax Credit, helps reduce an employer's cost of doing businesses while hiring those in need of a job.

IDES Director Jay Rowell says the program is a valuable way for business owners and prospective employees alike.

"This is a real progress in helping businesses compete, assisting individuals to find gainful employment, and improving the Illinois economy," said Rowell. "It also shows that employers increasingly view IDES as an employment agency."

More than 27,000 individuals were hired under the WOTC program in 2011.

The specific categories include individuals receiving Temporary Assistance for Needy Families; qualified military veterans, summer youth employees, qualified food stamp recipients, and others.

View the original article here

Businesses Qualify for $67 Million in Tax Credits - IGNN (press release)

CHICAGO - Illinois businesses qualified for $67 million in income tax credits after hiring individuals covered through the Work Opportunity Tax Credit (WOTC), the Illinois Department of Employment Security (IDES) announced today. The federal incentive reduces an employer’s cost of doing business while helping those most in need gain valuable work experience. IDES administers the federal program.

“This valuable program helps a business owner improve the bottom line and offers a hand up to those who want to make a better life for themselves and their family,” IDES Director Jay Rowell said. “This is real progress in helping businesses compete, assisting individuals to find gainful employment, and improving the Illinois economy. It also shows that employers increasingly view IDES as an employment agency.”

The WOTC incentives allow business owners to keep more of their money by hiring from historically disenfranchised groups. In 2011, the majority of the tax credit involved businesses who hired an individual receiving state financial assistance. In this way, the program benefits the state as a whole, as new jobs increase the likelihood that the state support will be reduced or no longer needed.

More than 27,000 individuals were hired under the WOTC program in 2011. Tax incentives range from $2,400 in one year to $9,600 over two years, depending on the new hire. The $67 million in savings represents 2011 activity that would be entered in federal tax returns in 2012.

The specific categories include individuals receiving Temporary Assistance for Needy Families; qualified military veterans; qualified ex-felons; a designated community resident who lives in a renewal zone; vocational rehabilitation referrals with a physical or mental impairment and who have received vocational or employment training; summer youth employees; qualified food stamp recipient; and a qualified supplemental security income beneficiary.       

Employers claim the federal tax credit using IRS Form 5884. Looking at 2012, businesses can apply for WOTC certification for a new hire in three steps. Pre-screen individuals using IRS Form 8850, called the “pre-Screening Notice & Certification Request for Work Opportunity Credit.” Then, complete the ETA Form 9061, called the “Individual Characteristics Form.” Finally, mail the original, signed forms to IDES’ WOTC Unit within 28 days of the new hire’s start state. It is recommended that copies of the form be kept with the business. Forms and details are available at www.ides.illinois.gov/wotc

The IDES supports economic stability by administering unemployment benefits, collecting business contributions to fund those benefits, connecting employers with qualified job seekers, and providing economic information to assist career planning and economic development. It does so through nearly 60 offices, including Illinois workNet centers.

View the original article here