Blog - Page 4162 of 5550

TuesdayDec 16, 2008 1:19 pm

The Federal Reserve Cuts Key Rate to Record Low

This afternoon, the central bank's Federal Open Markets Committee (FOMC) announced a target range for the federal funds rate of 0 to 0.25%. This unprecedented move cuts the key rate for overnight lending to banks by 0.75% to 1%. The move was almost as aggressive as the central bank could be on monetary policy. By allowing the funds rate to float between zero and 0.25%, it will no longer be a tool of monetary policy. Other measures beyond lowering interest rates are expected as the central bank pledged in its policy statement “The Federal Reserve will employ all available tools…

TuesdayDec 16, 2008 10:39 am

MyECheck, Inc. (MYEC.OB) Provides the Bridal Online Store Company with Its Check 21 Electronic Transaction Processing Software

Today, MyECheck announced that it has launched its electronic transaction processing software at the Bridal Online Store. The announcement marks the fourth major deal signed for the month of December. The company continues to add clients as ecommerce retailers grow weary of credit card processing fees, charge-backs and rolling reserves. Although retail sales have declined due to the current economic conditions, eCommerce sales are still growing. In fact, the Census Bureau of the Department of Commerce announced last month that the estimate of U.S. retail eCommerce sales for the third quarter of 2008, adjusted for seasonal variation, was $34.4 billion.…

TuesdayDec 16, 2008 7:38 am

The Amergence Group (AMNG.PK) Propels Early-Stage Businesses without Controlling their Dreams

When a business owner is in need of raising capital to expand his business, sometimes he is literally “forced” to give up part of his vision in order to receive the necessary funding. The Amergence Group understands that no one knows the business and potential of the business as well as the business owner, and have made it part of their mission statement to never ask business owners to give up control of their dreams. The Amergence Group provides businesses with bold new options for business ventures by attracting the necessary resources to drive their growth and success. The company…

TuesdayDec 16, 2008 7:06 am

Nexia Holdings, Inc.’s (NXHD.OB) Landis Salons Believe Everybody Possesses Beauty

Nexia Holdings, Inc. owns two Landis Salons in Northern Utah, offering Aveda Lifestyle and Aveda Concept salon services. The salons’ team of highly trained professionals share great passion for the art of hair and dedicate themselves to helping clients realize their fullest potential. Both salons care about environmental issues and believe that environmental sustainability is the only responsible way of doing business. The salons have partnered with Aveda because of their shared passion for quality products and services that increase the beauty of the body and renew mind, as well as protect the environment. Employees must have a minimum of…

TuesdayDec 16, 2008 5:49 am

Sector 10, Inc. (SECT.OB) Recognizes 400% Increase in Sales Over Prior Quarter

Today before the bell, Sector 10 announced that its 3rd quarter sales are anticipated to increase 400% over the 2nd quarter. This substantial increase in sales further improves the positive performance trends established over the past three months. In recent news, the company recently agreed to provide pre-deployed emergency equipment and supplies to the administration and student buildings of a college located in Ogden, Utah. According to the press release, a number of other proposals are under consideration with other customers. The company is looking to expand its sales force and increase production capacity. At the College, Sector 10 will…

MondayDec 15, 2008 4:03 pm

December 15th CEOcast Weekly Newsletter

Companies featured in the current edition of the newsletter: CETG, CVM, ENZ, GNBT, ITUI, MNDL, PCFG, SWYV It was another interesting week on Wall Street, as the bear market rally that started late Friday the previous week extended into early last week, demonstrating the markets' resiliency in the face of tough news yet again. All told, the Dow ended down moderately, losing 5 points on the week to close at 8629, maintaining its year to date loss at 34.9%. The NASDAQ managed to post a 2% increase, closing at 1540, bringing its YTD losses to 41.9%. The S&P 500 and…

MondayDec 15, 2008 2:05 pm

SHOT Spirits Corp. (SHTP.PK) is “One to Watch”

SHOT Spirits Corporation and Beverage Pouch Group are pioneers in the single serve Ready to Drink alcohol category. Founded in 2003, SHOT Spirits has their corporate headquarters in Irvine, California. They and Beverage Pouch Group have more than 50 years of combined expertise in alcohol distilling, distribution and field marketing, retail placement, promotion and consumer trial and adoption. SHOT Spirits Corporation has an investment and technical agreement for 15 percent in The Beverage Pouch Group LLC (BPG). The Beverage Pouch Group LLC is a member of the PPi Technologies Global Group of companies. The PPi Technologies Global Group offers StandUp…

MondayDec 15, 2008 9:52 am

Magellan Petroleum Corp. (MPET) Makes Board Changes, Announces New President and CEO

Today, Magellan Petroleum announced that it has appointed William H. Hastings as its new President and CEO. Daniel J. Samela has resigned as Acting President and CEO and will assum the roles of CFO, Chief Accounting Officer and Treasurer. The company also announced changes to its Board of Directors. Walter McCann, Magellan's Chairman of the Board, stated, "Magellan's Board is very pleased to have Bill Hastings assume the positions of President and CEO. Bill brings more than twenty-seven years of proven experience in the successful development of oil and natural gas reserves and also in the management of commercial gas…

MondayDec 15, 2008 9:45 am

Image Entertainment, Inc. (DISK) Executes North American Distribution Deal with BKN Home Entertainment

Image Entertainment, Inc. announced today that it has signed a distribution agreement with BKN Home Entertainment Inc ("BKN"), a wholly owned American subsidiary of global animation company BKN International AG. According to the press release, Image Entertainment now has an exclusive distribution arrangement for BKN's entire catalog, which contains more than 300 different episodes from more than 26 properties. Image will also get an exclusive first-look at all new BKN content. Matthew Graham-Clare, managing director of home entertainment for BKN, stated, "We are delighted to work with Image and have high expectations for this partnership with such a well established…

MondayDec 15, 2008 9:39 am

Capital Gold Corp. (CGLD.OB) Sees Net Income Before Tax Increase 64%

Today, Capital Gold announced that it has recognized a 64% increase in net income before taxes for the first fiscal quarter ending October 31, 2008 compared to the same quarter of last year. Net income before taxes increased from $1,747,000 to approximately $2,863,000, while net income after taxes was reported at $1,936,000 compared to last year’s $1,747,000. To continue expanding production, the company has placed an order for an additional secondary crusher. John Brownlie, the COO of Capital Gold, stated, “The success of all of the upgrades we completed in 2008, including leach pad expansion, additional solution pumps and a…

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