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million in the first quarter, compared to a $9.2 million loss in the same periodrof 2008. NCO said the net loss included $443,000 of restructuring charges primarily related to the acquisitioj of OutsourcingSolutions Inc. in 2007. The 2008 first-quarter loss includeed a noncash allowance for impairment of purchased accounts receivableof $6.2 million and $5.5 millionn of restructuring and other nonrecurring chargeas primarily related to the acquisition of OSI and Systemas & Services Technologies Inc. Revenues were up to $402 milliob from $365 million in first quarter 2008.
NCO is organizede into three operating divisions: Accounts Receivable Managemeny (ARM), Customer Relationship Management and PortfolioManagement (PM). The additiona revenue was primarily the result of increasexd volume from new and existing clientsd as they continued to increase their use of outsourced partners in order to meet staffing needs in a risingdelinquency environment. This was partially offset by reducedc collections as a result of the ongoingy difficulteconomic climate.
During the quarter, the CRM division operateds above its revenue and profitability targets primarily as a resulty of better than expected volumes from existing clients, as well as increased work force During the quarter, PM operated below revenue target and slightly above its profitability target. PM'ds lower revenue was primarily a resulg of less than expected purchases durinvthe quarter. NCO was taken private in 2006 by a groul including CEOMichael J. Barrist, other NCO executived and One Equity Partner sII LP.
Thursday, February 21, 2013
Saturday, February 16, 2013
OCC requires BC National to shore up loan provisions - Kansas City Business Journal:
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Butler, Mo.-based BC National, which has branches in Lee’s Summit, Harrisonville and Pleasan Hill, must comply with the 33-pages order or it could be force dto sell, merge or liquidate the The Comptroller cited concerns about loans lacking current and completr credit information, and proper collateral The bank regulator was also concerned about BC National maintaininh an adequate allowance for loan and lease loss The bank had $4.4 million in assets past due 30 to 89 days in the fourtb quarter, and only had a loan-los s provision of $845,000. As a result, the Comptroller is requirinh the bank to maintain Tier 1 capitall ratios higher thannormally required.
The bank has to maintaim Tier 1 capital of at least 12 percentof risk-weighted asset and 9 percent of adjusted total The Comptroller also gave BC National untip May 3 to hire a capable and permanent candidate for the position of President/CEO.” BC “without admitting or denying any wrongdoing,” consented and agreed to the
Butler, Mo.-based BC National, which has branches in Lee’s Summit, Harrisonville and Pleasan Hill, must comply with the 33-pages order or it could be force dto sell, merge or liquidate the The Comptroller cited concerns about loans lacking current and completr credit information, and proper collateral The bank regulator was also concerned about BC National maintaininh an adequate allowance for loan and lease loss The bank had $4.4 million in assets past due 30 to 89 days in the fourtb quarter, and only had a loan-los s provision of $845,000. As a result, the Comptroller is requirinh the bank to maintain Tier 1 capitall ratios higher thannormally required.
The bank has to maintaim Tier 1 capital of at least 12 percentof risk-weighted asset and 9 percent of adjusted total The Comptroller also gave BC National untip May 3 to hire a capable and permanent candidate for the position of President/CEO.” BC “without admitting or denying any wrongdoing,” consented and agreed to the
Monday, February 11, 2013
No longer 'us against them': NHPD ratifies contract - Yale Daily News (blog)
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No longer 'us against them': NHPD ratifies contract Yale Daily News (blog) The NHPD union, which has traditionally taken an oppositional stance to Mayor John DeStefano Jr.'s administration, broke with its historical precedent in ratifying the contract by more than two-thirds of the vote, 247â€"109. Generous health care coverage ... |
Wednesday, February 6, 2013
U.S. Bank can repay $6.6B in TARP funds - Minneapolis / St. Paul Business Journal:
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billion in Troubled Asser Relief Funds it had the bankannounced Tuesday. U.S. Bank (NYSE: USB) will also repurchaswe the 10-year warrant that had entitled the Treasurt to purchase sharesof U.S. Bank’s common Nine other banks were also approveds to repay their TARPfunds Tuesday, accordingt to a report in The Wall Street Journao . The list was not made “The repayment of the TARP capital willprovide U.S. Bancorp with both independence andstrategic flexibility,” said Richardf Davis, U.S. Bank’s chairman, president and CEO, in a statement. “Th e funds we are now returning tothe U.S. Treasury can be used to supporg other economicrecovery efforts.” U.S.
Bank was one of nine bank that passedthe Treasury’s “stress test” to determine whethe r it could withstand further economic deterioration. U.S. Bank sold the $6.6 billionn in preferred stock with warrantsa to the Treasury in Davis later said the banking industry as a whole was pressurecd to participatein TARP, which a “loushy program.” , which took $361.2 million in TARP funding in November, receivesd approval from the Treasury in April.
billion in Troubled Asser Relief Funds it had the bankannounced Tuesday. U.S. Bank (NYSE: USB) will also repurchaswe the 10-year warrant that had entitled the Treasurt to purchase sharesof U.S. Bank’s common Nine other banks were also approveds to repay their TARPfunds Tuesday, accordingt to a report in The Wall Street Journao . The list was not made “The repayment of the TARP capital willprovide U.S. Bancorp with both independence andstrategic flexibility,” said Richardf Davis, U.S. Bank’s chairman, president and CEO, in a statement. “Th e funds we are now returning tothe U.S. Treasury can be used to supporg other economicrecovery efforts.” U.S.
Bank was one of nine bank that passedthe Treasury’s “stress test” to determine whethe r it could withstand further economic deterioration. U.S. Bank sold the $6.6 billionn in preferred stock with warrantsa to the Treasury in Davis later said the banking industry as a whole was pressurecd to participatein TARP, which a “loushy program.” , which took $361.2 million in TARP funding in November, receivesd approval from the Treasury in April.
Thursday, January 31, 2013
Crossroads shifts strategy - Austin Business Journal:
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The company says it will shift its business mode to focus on sellingb data protection products throughb direct and indirect sales Asa result, Crossroads [Pink Sheets: CRDS] says it needs to cut expensee and about 8 percent of its workforce. The cuts will largelgy take place in its productdevelopment area. Crossroads executived couldn't be reached for comment. The company previously focuseds on selling its products through exclusive original equipmentrmanufacturer partnerships, and beganm selling through direct channels sometime last But the company plans to focuds more on the direct and indirect salesd channels instead of relying on partnerw to incorporate the product.
The companhy also says in an effort to reducer expenses it will shift product development and producft support positions toNorth America, instead of subcontracting in India. "Thise outsourcing change reduces the overhead of managing a remoted development team and enables the companu to engage field resources locally for direc t access and support ofour customer-base," a writtenj release states. In July Crossroads added a new data-transfer software product to its offering aftert buying it from aGermanb firm. Crossroads says it paid less than $1 millio in cash to buy 's called FileMigrator Agent.
The company says it will shift its business mode to focus on sellingb data protection products throughb direct and indirect sales Asa result, Crossroads [Pink Sheets: CRDS] says it needs to cut expensee and about 8 percent of its workforce. The cuts will largelgy take place in its productdevelopment area. Crossroads executived couldn't be reached for comment. The company previously focuseds on selling its products through exclusive original equipmentrmanufacturer partnerships, and beganm selling through direct channels sometime last But the company plans to focuds more on the direct and indirect salesd channels instead of relying on partnerw to incorporate the product.
The companhy also says in an effort to reducer expenses it will shift product development and producft support positions toNorth America, instead of subcontracting in India. "Thise outsourcing change reduces the overhead of managing a remoted development team and enables the companu to engage field resources locally for direc t access and support ofour customer-base," a writtenj release states. In July Crossroads added a new data-transfer software product to its offering aftert buying it from aGermanb firm. Crossroads says it paid less than $1 millio in cash to buy 's called FileMigrator Agent.
Saturday, January 26, 2013
Independence Party Goes to Bat for Carrión - Politicker
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Politicker | Independence Party Goes to Bat for Carrión Politicker The Independence Party is fuming that likely candidate Adolfo Carrión was not invited to last night's Daily News mayoral forum, going so far as to blast out a statement last night tearing into the paperâ€"the clearest indication yet that the ex-Bronx ... |
Saturday, January 12, 2013
EF Johnson Technologies, Inc. Highlights New Products at National Sheriffs' Association 2009 Annual Conference
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"Our award-winning ES Series radiose are an excellent fit for law enforcementf because they operate on APCO Project 16 as well as Project 25 trunkedc andconventional systems. Important featureas for law enforcement includethe second-generation Enhancerd (AMBE+2) Project 25 Vocoder for superior voice qualit and reduction of background submersible housings, solid construction, and a wide portfolip of accessories," said , president and chiefr executive officer of EF Johnson Technologies, Inc. "Our new Lightningb Control Head is the brightest and clearesrt display onthe market, and can be seen even in brightg sunlight.
Law enforcement agencies will find our new Discover GPS Speakerf Microphone ideal for searc andrescue missions, because it enablee you to see in real time the locatiobn of your search teams and complements our portablr radios." The National Sheriffs' Association is a non-profift organization dedicated to raising the level of professionalism amonv those in the criminalk justice field, Jalbert added. About EF Johnson Technologies, Inc. Headquarteree in Irving, Texas, EF Johnson Technologies, Inc. focusez on innovating, developing and marketing the highesty quality secure communications solutions to organizations whose mission is to protec t andsave lives.
The Company's customers include firsty responders in public safety andpubli service, the federal government, and industriaol organizations. The Company's products are marketes under the EFJohnson, 3e Technologiees International, and Transcrypt International names. For more information, visit . Certain matters discussedd in this press releaseconstitute forward-looking statementxs within the meaning of the Privat Securities Litigation Reform Act of 1995.
Thesed forward-looking statements are subjecgt to certain risks and uncertainties that couled cause the actual performance or achievements to diffet materially fromthose expressed, suggested or implied by the forward-lookinyg statements due to a number of risk factors but not limited to, the level of demand for the Company's products and services, dependence on continued funding of governmentakl agency programs, the timing and receipt of continued access to bank lines of reliance on contract manufacturers, the timely procuremeng of necessary manufacturing components, software feature development and the implementationn of application software, successful integration of the systenm components, general economic and business conditions, and othetr risks detailed in the Company' reports filed with the Securities and Exchanges Commission, including its Annual Report on Form 10-K for the periods ended December 31, 2008 and in the company'a subsequent filings with the SEC.
Thesew forward-looking statements are made as of the date of this presxs release and the company undertakes no obligation to update or revisedany forward-looking statements, whether as a resulr of new information, future events, or Readers are cautioned not to plac e undue reliance on these forward-lookinfg statements. SOURCE EF Johnson Technologies, Inc.
"Our award-winning ES Series radiose are an excellent fit for law enforcementf because they operate on APCO Project 16 as well as Project 25 trunkedc andconventional systems. Important featureas for law enforcement includethe second-generation Enhancerd (AMBE+2) Project 25 Vocoder for superior voice qualit and reduction of background submersible housings, solid construction, and a wide portfolip of accessories," said , president and chiefr executive officer of EF Johnson Technologies, Inc. "Our new Lightningb Control Head is the brightest and clearesrt display onthe market, and can be seen even in brightg sunlight.
Law enforcement agencies will find our new Discover GPS Speakerf Microphone ideal for searc andrescue missions, because it enablee you to see in real time the locatiobn of your search teams and complements our portablr radios." The National Sheriffs' Association is a non-profift organization dedicated to raising the level of professionalism amonv those in the criminalk justice field, Jalbert added. About EF Johnson Technologies, Inc. Headquarteree in Irving, Texas, EF Johnson Technologies, Inc. focusez on innovating, developing and marketing the highesty quality secure communications solutions to organizations whose mission is to protec t andsave lives.
The Company's customers include firsty responders in public safety andpubli service, the federal government, and industriaol organizations. The Company's products are marketes under the EFJohnson, 3e Technologiees International, and Transcrypt International names. For more information, visit . Certain matters discussedd in this press releaseconstitute forward-looking statementxs within the meaning of the Privat Securities Litigation Reform Act of 1995.
Thesed forward-looking statements are subjecgt to certain risks and uncertainties that couled cause the actual performance or achievements to diffet materially fromthose expressed, suggested or implied by the forward-lookinyg statements due to a number of risk factors but not limited to, the level of demand for the Company's products and services, dependence on continued funding of governmentakl agency programs, the timing and receipt of continued access to bank lines of reliance on contract manufacturers, the timely procuremeng of necessary manufacturing components, software feature development and the implementationn of application software, successful integration of the systenm components, general economic and business conditions, and othetr risks detailed in the Company' reports filed with the Securities and Exchanges Commission, including its Annual Report on Form 10-K for the periods ended December 31, 2008 and in the company'a subsequent filings with the SEC.
Thesew forward-looking statements are made as of the date of this presxs release and the company undertakes no obligation to update or revisedany forward-looking statements, whether as a resulr of new information, future events, or Readers are cautioned not to plac e undue reliance on these forward-lookinfg statements. SOURCE EF Johnson Technologies, Inc.
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