| To: richardred who wrote (4265) | 11/10/2016 10:50:31 AM | | From: richardred | | | | | Added to CYAN today. Signs of a turnaround. Net sales increase 16% to a record $9.9 million and in the black. Costco problems on the mend? >Growth in our packaged products was primarily due to our Costco expansion. During this quarter, BioAstin expanded into an additional 64 warehouse stores in Costco's Northwest region and now is available in 252 Costco warehouses, or roughly 52% of their domestic total. |
| | Speculating in Takeover Targets | Stock Discussion ForumsShare | RecommendKeepReplyMark as Last ReadRead Replies (1) |
|
| To: richardred who wrote (4280) | 11/12/2016 4:49:37 PM | | From: richardred | | | | Computer Task Group puts Knox Mansion up for sale
The historic Knox Mansion is owned by Computer Task Group, which has been considering its sale. (Robert Kirkham/Buffalo News)
By Jonathan D. Epstein
Published November 2, 2016
Updated November 2, 2016
Computer Task Group is putting the Delaware Avenue mansion that serves as its headquarters up for sale along with an adjacent building, seeking to capitalize on the burgeoning real estate market in Buffalo while consolidating its workforce into a single building elsewhere to lower expenses.
The Buffalo-based global technology staffing and services company has hired Ciminelli Real Estate Corp. to market the Knox Mansion at 800 Delaware Ave. and another building at 700 Delaware, which together house the company's headquarters and administrative operations. The buildings, which date to 1918 and 1957, respectively, are owned by CTG, which is seeking $6.5 million for the two of them.
The company, which previously revealed in June that it was considering such a step, is seeking to save money by bringing its operations together under a single roof. The company last month posted its second quarterly loss in the last three quarters, as revenues plunged 16 percent amid cutbacks by the firm's clients, while accounting write-downs and severance costs outweighed a slight operating profit.
It had previously put the mansion up for sale a year ago, through Cushman & Wakefield affiliate Pyramid Brokerage Co., but got no takers in the end. Its former CEO, Cliff Bleustein, had suggested in June that it would use the 700 Delaware as its consolidated base, but now it appears executives have decided the company would do better by selling the two prime pieces of real estate, which are close to downtown Buffalo. Bleustein was succeeded in July by Arthur Crumlish.
The Knox Mansion is on the market for $3.3 million, while 700 Delaware is up for $3.2 million. If both buildings are sold, it will initiate a search for a completely new location.
“Buffalo’s real estate market is very strong, as has been evidenced by its resurgence over the last few years,” said Robert G. McDonnell, a senior vice president at Ciminelli. “We anticipate the interest in both buildings will be substantial. Each of the properties is in excellent condition and could potentially serve in a capacity other than office space. We will be marketing them both quite aggressively.”
Built in 1918, the Knox Mansion was built for Grace Millard Knox, widow of Seymour H. Knox, who founded and owned the S.H. Knox Co. five-and-dime stores and later served as vice president of Woolworth Co. and chairman of the board of Marine Trust Co., later HSBC Bank USA. Designed by prominent architect Charles Pierrepont H. Gilbert and constructed at a cost of $600,000, the French Renaissance-style house originally had 25 rooms, and is about 48,000 square feet in size. It was owned by the family until 1969, when it was acquired by the Montefiore Club, a private men's club. CTG bought it in 1978, and has occupied it since.
The other building, a three-story office building one block away at 700 Delaware, dates to 1957, and has 44,880 square feet. Both have parking.
buffalonews.com |
| | Speculating in Takeover Targets | Stock Discussion ForumsShare | RecommendKeepReplyMark as Last ReadRead Replies (1) |
|
| To: richardred who wrote (4222) | 11/14/2016 8:12:18 AM | | From: richardred | | | | A Bullseye Today in HAR. My Leap options are all in the money today! :+ )
Samsung is buying Harman in an $8 billion bet on connected cars
The Korean company’s biggest ever acquisition places it at the heart of the car-tech markethttp://www.theverge.com/2016/11/14/13620812/samsung-cars-harman-acquisition-8-billion
P.S. Thanks Jake Straw for the idea |
| | Speculating in Takeover Targets | Stock Discussion ForumsShare | RecommendKeepReplyMark as Last ReadRead Replies (3) |
|
| To: richardred who wrote (4297) | 11/17/2016 9:35:20 AM | | From: richardred | | | | RE CTG dividend suspended. No surprises there. However stock buyback to take advantage of low stock price.
CTG Announces $10 Million Share Repurchase Authorization BUFFALO, N.Y., November 17, 2016 – CTG (NASDAQ: CTG), an information technology (IT) services and solutions company, today announced that its Board of Directors has authorized the Company to repurchase up to $10 million of its outstanding shares over the next two years. The authorization replaces and expands the Company’s capacity to repurchase shares under its preexisting buyback program. Concurrent with the authorization of the share repurchase program, CTG’s Board of Directors also approved a suspension of the Company’s cash dividend.
Chairman of CTG’s Board of Directors, Daniel J. Sullivan, commented, “The Board and executive management recently conducted a comprehensive review of the Company’s capital allocation priorities, and subsequently elected to authorize a share repurchase program to take advantage of current market conditions. More specifically, we believe the opportunistic repurchase of CTG shares at the current valuation is a very effective use of the Company’s capital resources. Today’s announcement demonstrates both the Board’s and management’s commitment to maximizing shareholder value, while simultaneously focusing on the execution of our strategic business plans to drive future growth.”
CTG’s share repurchase program authorizes the Company to repurchase its common stock from time to time in compliance with applicable securities laws. Neither the program nor the authorization requires the Company to repurchase any shares, and the timing of any such transactions as well as the number of shares will be decided at management’s discretion based on market conditions and other factors. The Company’s share repurchase program does not have an expiration date, and it will remain in place until terminated by CTG’s Board of Directors.
About CTG
CTG provides industry-specific IT services and solutions that address the business needs and challenges of clients in high-growth industries in North America and Western Europe. CTG also provides strategic staffing services for major technology companies and large corporations. Backed by 50 years of experience and proprietary methodologies, CTG has a proven track record of reliably delivering high-value, industry-specific staffing services and solutions to its clients. CTG has operations in North America, Western Europe, and India. The Company regularly posts news and other important information online at www.ctg.com. |
| | Speculating in Takeover Targets | Stock Discussion ForumsShare | RecommendKeepReplyMark as Last ReadRead Replies (1) |
|
| To: richardred who wrote (4286) | 11/19/2016 6:51:53 PM | | From: richardred | | | | Germany's Mutares bids for Plastic Omnium's truck supply business.
German investment firm Mutares AG has made a binding offer to buy Cie. Plastic Omnium SA’s truck supplier business.
The business makes thermoplastic and thermoset body panels and structural parts, including Class A painted panels, in Europe, China and Mexico.
Terms of the deal were not disclosed. The deal is subject to regulatory approval and, in accordance with French law, the offer must be submitted to the works council for their position. Plastic Omnium said in a release that it expects the deal to be finalized in 2017.
The business consists of five plants in France, two in China and one each in Germany and Mexico. The plants employ more than 1,500, and generated 190 million euros in sales in 2015, according to the companies.
Products include exterior components and modules for truck cabins, and customers include major European truck manufacturers, according to the companies.
Munich-based Mutares said it will combine the business with its existing truck supplying business, including two plants recently acquired from Mecaplast Group, to create a global business with about 400 million euros in annual sales and 2,700 employees in 15 plants.
Mutares added that it expects “further add-on acquisitions” that will help it take a leading role in consolidating that market.
Plastic Omnium is focusing on body and structural auto components, following its recent acquisition of Faurecia SA’s automotive exteriors business.
plasticsnews.com |
| | Speculating in Takeover Targets | Stock Discussion ForumsShare | RecommendKeepReplyMark as Last Read |
|
| |
