Deals of the Hour

Trying to find out what's the deal with the world, tracking what's on sale and who's talking about it on Twitter. Update hourly.

Deals of the Hour / October 2, 2010, 6:40 am

Associated Estates Announces Closing of Common Share Offering

CLEVELAND , Oct. 1 -- Associated Estates Realty Corporation (NYSE: AEC, Nasdaq: AEC) today announced that it completed the sale of 9,200,000 common shares at a price of $13.60 per share, representing 8,000,000 of its common shares sold pursuant to its ... (Source: Earthtimes 2010-10-01T18:46:46Z)

Dean Smith visits Bobcats

Dean Smith was a popular man Thursday. From his seat on the floor at midcourt, Smith, a former North Carolina coach, took turns watching the Charlotte Bobcats practice and chatting with numerous old friends as a special guest of coach Larry Brown . It was ... (Source: Kansas City Star 2010-10-01T04:06:18Z)

Blount sells Gear Products for $25 million

Mechanical equipment manufacturer Blount International sold a subsidiary, Gear Products, for $25 million in cash on Friday. Gear makes power transmission components for equipment manufacturers in the utility, construction, forestry and mining markets. It ... (Source: Oregonian 2010-10-02T00:30:22Z)

Central Hudson: Power outages total 1,100

About 1,100 mid-Hudson Central Hudson customers were without power as of 4 p.m. today, after a fierce storm knocked down trees and damaged equipment. The Poughkeepsie-based utility company expects service to be restored for the majority of the remaining ... (Source: Poughkeepsie Journal 2010-10-01T21:09:56Z)

Weather cools sharply as storm moves away; some road closings, power outages remain

Sections of the Saw Mill River and Bronx River parkways remained closed by flooding at noon and 6,000 homes and businesses were without power as the northern suburbs continued to dry out from this morning's torrential downpour. Temperatures, which had been ... (Source: LoHud.com 2010-10-01T17:42:21Z)

VW's 200-Model Empire Competes With Itself as Ford, GM Shrink

Sept. 30 (Bloomberg) -- Volkswagen AG's goal to surpass Toyota Motor Corp. in sales and profitability by turning out more models and building cars on shared underbodies is stoking unwanted competition among its own brands. VW's strategy allows Europe ... (Source: BusinessWeek 2010-09-29T22:16:44Z)

Rain can't stop Brown's dinner with Dean

WILMINGTON It has rained continuously and torrentially since the Charlotte Bobcats traveled to this coastal city Monday night for training camp. About 22 inches of rain fell on Wilmington between Sunday and Thursday, causing various flooding problems, but ... (Source: CharlotteObserver.com 2010-10-02T01:56:16Z)

Hecker co-defendant Steven Leach pleads guilty

MINNEAPOLIS-- A former associate of fallen auto giant Denny Hecker pleaded guilty in federal court Friday, admitting his role in a scheme to defraud creditors of millions. 55 year old Steven Leach, former president of Rosedale Dodge and Denny Hecker's auto ... (Source: KARE 2010-10-01T18:32:27Z)

Coca-Cola Enterprises holders approve sale

The soft drink bottler Coca-Cola Enterprises Inc. said Friday that its stockholders approved the sale of its North American operations to Coca-Cola Co. This clears the way for the deal to be completed within the coming days. Coca-Cola, based in Atlanta ... (Source: AP - msnbc.com 2010-10-01T14:29:04Z)

Blount International Completes Sale Of Subsidiary Gear Products For $25 Million - Quick Facts

(RTTNews) - Blount International Inc. (BLT: News ) announced Friday the sale of its indirect wholly-owned subsidiary Gear Products, Inc to Tulsa Winch, Inc., an operating unit of Dover Industrial Products, Inc. for about $25 million in cash. Blount said it ... (Source: RTT News 2010-10-01T13:46:07Z)

College basketball notes: Men's and women's SEC tourney tickets go on sale

Tickets for the 2011 women's and men's SEC Basketball Tournaments will go on sale to the public beginning at 9 a.m. ET Friday. Tickets for each event will be available online at www.SECsports.com or by calling 1-800-732-4849. The Women's SEC Basketball ... (Source: Lexington Herald-Leader 2010-10-01T11:58:45Z)

Associated Estates Realty Raises $119.6 Mln In Net Proceeds From Stock Offering - Quick Facts

(RTTNews) - Associated Estates Realty Corp. (AEC: News ) said Friday that it completed the sale of 9.2 million common shares at a price of $13.60 per share, representing 8 million of its common shares sold pursuant to its previously announced public ... (Source: RTT News 2010-10-01T19:51:12Z)

SAIC May Invest in General Motors' Share Sale, Chairman Says

Sept. 21 (Bloomberg) -- SAIC Motor Corp. said it may invest in the initial public offering of partner General Motors Co., cementing ties between the biggest U.S. and Chinese automakers. China's largest carmaker will consider investing in GM if "conditi ... (Source: BusinessWeek 2010-09-21T03:49:32Z)

AIG reaches agreement to repay government

NEW YORK - AIG, which became a lightning rod for criticism over government bailouts, said Thursday that it had reached a deal to repay billions of dollars in federal money it received during the credit crisis. The plan could return a profit to taxpayers ... (Source: Philadelphia Daily News 2010-10-01T07:12:25Z)

Castle Harlan Completes Sale of Ames True Temper, Leading Maker of Lawn and Garden Tools ...

NEW YORK , Sept. 30 /PRNewswire/ -- Castle Harlan, Inc., the New York private equity firm, announced today that Castle Harlan Partners IV has completed the sale of Ames True Temper, Inc., the leading North American manufacturer and global marketer of non ... (Source: StreetInsider.com 2010-09-30T18:26:29Z)

Griffon unit's tender offer for notes expires

NEW YORK (AP) -- Griffon Corp. said debt holders of the company's Ames unit tendered more than $181 million in debt by a deadline Thursday. The tender offers covered Ames True Temper Inc.'s senior floating rate notes due 2012 and its 10 percent senior ... (Source: Yahoo Finance 2010-10-01T22:07:12Z)

AIG to Convert Preferred Shares Into Common to Repay U.S. Rescue

American International Group Inc. agreed with U.S. regulators to repay its bailout by converting the government's holdings into common shares for sale, a step toward independence for the insurer whose near collapse two years ago threatened the global ... (Source: Bloomberg 2010-09-30T11:24:09Z)

No Nintendo 3DS This Holiday Season

Nintendo will spend this Christmas spinning its wheels, for the most part. Some anticipated titles are due to launch this holiday season (such as Shaun White's snowboarding game and Babysitting Mama ) but wiithout the 3DS to strengthen sales, the company's ... (Source: Associated Content 2010-09-30T12:14:15Z)

Nintendo slashes profit forecast after saying 3DS won't be on sale for Christmas

CHIBA, Japan (AP) — Nintendo slashed its earnings forecast by more than half Wednesday after announcing that its 3 DS game machine, packed with glasses-free 3-D technology, won't be ready to go on sale for Christmas. Nintendo now expects 90 billion yen ... (Source: Hartford Courant 2010-09-29T09:16:29Z)

AIG Plans $2.5 Billion Equity Offering By March, CEO Says

NEW YORK (Dow Jones)--American International Group Inc. (AIG) hopes to complete a $2.5 billion equity offering and a small debt sale by March 2011 to test investor confidence in its turnaround plan, Chief Executive Robert Benmosche said. ... (Source: Wall Street Journal 2010-09-30T18:33:38Z)

NYSE Stocks Movers on Mergers and Acquisitions (GE, ARW, BLT, MWW)

GE (NYSE: GE) announced today that they have entered an agreement to acquire substantially all the assets of Calnetix Power Solutions (CPS). CPS is a company that develops innovative technology for small-scale, waste heat to power projects. "Alternative ... (Source: Transworld News 2010-10-01T15:54:58Z)

NYPA Extends North Country Power Discount for Businesses & Dairy Farms

OGDENSBURG, N.Y. — New York Power Authority (NYPA) President and Chief Executive Officer Richard M. Kessel today announced the extension of a program aimed at using the resources of the St. Lawrence-Franklin D. Roosevelt Power Project to provide energy ... (Source: newzjunky.com 2010-09-29T16:04:30Z)

Nintendo cuts profit, 3DS not ready for Christmas

CHIBA, Japan -- Nintendo shares tumbled Thursday after the company said its 3DS game machine, packed with glasses-free 3-D technology, won't be ready to go on sale for Christmas, crushing its earnings forecast by more than half. The 3DS will go on sale in ... (Source: Forbes 2010-09-30T04:07:29Z)

Entry into a Material Definitive Agreement, Completion of Acquisition or Disposition

On September 30, 2010, Clopay Ames True Temper Holding Corp., a Delaware corporation and an indirect wholly-owned subsidiary of the Company (the "Borrower"), entered into a Credit and Guarantee Agreement, dated as of September 30, 2010, by and among the ... (Source: YAHOO! 2010-10-01T22:07:12Z)

GM needs to be modest about its hot new vehicles

This would be a good time for General Motors to at least appear humble. A year out of bankruptcy, GM has accomplishments it's tempted to boast about. Bad idea. A lot of people at GM feel very good about the company these days. With good reason. They've ... (Source: Pittsburgh Tribune-Review 2010-10-02T03:57:58Z)

Hecker staffer cuts plea bargain

A longtime Denny Hecker employee pleaded guilty to two charges in U.S. District Court in Minneapolis Monday as part of an agreement to cooperate with prosecutors in the fraud case against the disgraced Twin Cities auto dealership mogul and another employee ... (Source: Pioneer Press 2010-09-28T04:31:20Z)

Coke Enterprises' shareholders approve Coke deal

NEW YORK/CHICAGO (Reuters) - Shareholders of Coca-Cola Enterprises Inc ( CCE.N ) approved the purchase of its North American operations by Coca-Cola Co ( KO.N ) on Friday, paving the way for the deal to close in coming days. The largest bottler of Coca ... (Source: Reuters 2010-10-01T14:57:42Z)

Associated Estates Realty (AEC) Completes 9.2 Million Share Offering - Proceeds of $119.6 Million

Associated Estates Realty Corporation (NYSE: AEC ) has completed the sale of 9,200,000 common shares at a price of $13.60 per share. The net proceeds of the sale were approximately $119.6 million after deducting underwriting discounts, commissions and ... (Source: StreetInsider.com 2010-10-01T18:53:56Z)

Hecker: Conspirator to plead Friday

MINNEAPOLIS -- Steven Leach, the co-defendant in the Denny Hecker criminal fraud case will appear in U.S. Federal Court on Friday and is expected to plead guilty. Leach is charged with 16 counts, including wire fraud and conspiracy, in the multi-million ... (Source: msnbc.com 2010-10-01T13:46:07Z)

Coca-Cola Enterprises' Shareowners Approve Deal With Coca-Cola - Update

(RTTNews) - Coca-Cola Enterprises Inc. (CCE: News ), the largest bottler of Coca-Cola Co. (KO: News ) beverages, announced Friday that it received the shareowners' approval for its pending deal with Coca-Cola. The Atlanta, Georgia-based company noted that ... (Source: RTT News 2010-10-01T23:40:16Z)

Blog Archive