| Chartwell Seniors Housing Real Estate Investment Trust Treasury ...
Chartwell Seniors Housing Real Estate Investment Trust ("Chartwell") (TSX:CSH.UN) of Mississauga, Ontario today announced that it has agreed to sell, subject to regulatory approval, 14,100,000 Units for $14.25 per Unit for aggregate gross proceeds of $200,925,000 and $75,000,000 of 5.9% subordinated unsecured convertible debentures due May 1, 2012 (the "Debentures") to a syndicate of underwriters led by RBC Capital Markets on a bought-deal basis. Chartwell has granted to the Underwriters an option (the "Underwriters Over-allotment Option"), exercisable in whole or in part up to 30 days after closing, to purchase up to an additional 15% of the Units issued on the same terms as set forth above. This offering is expected to increase Chartwell's market capitalization to approximately $1.4 billion, based on the offering price for the Units.
UBS Brings THE PLAYERS Championship to Rockefeller Center May 4-13
NEW YORK, April 9 /PRNewswire/ -- Beginning Friday, May 4 through Sunday, May 13, visitors to Rockefeller Center will have the opportunity to take the most intimidating shot in golf at The UBS Golf Challenge: Experience THE PLAYERS Championship. The scaled replica of THE PLAYERS Stadium Course's iconic island 17th hole will serve as the centerpiece to an interactive exhibit made possible by UBS, a Proud Partner of THE PLAYERS, and hosted by Tishman Speyer, co-owners of Rockefeller Center. The exhibit coincides with the actual tournament, which will be played May 7 - 13 at TPC Sawgrass in Ponte Vedra Beach, Florida. THE PLAYERS is one of the crown jewels on the PGA TOUR schedule, and features the strongest field in professional golf. The 1/4-scaled replica will allow fans to hit a shot to an island green surrounded by water.
Blackstone Offering May Shimmer In IPO Market
Taking Blackstone Group public would give the company a license to print money – and could put a lot of dough in the pockets of current management. NBC's David Faber reported Friday that Blackstone is working with investment bankers on a planned initial public offering. While there are a number of motivations for going public, but the possible deal raises a basic question: Does it make sense for a company that takes others private to go launch an IPO? Blackstone could use the newly issued stock to close future deals, to retain top performers and to attract new talent – and it can always issue additional shares when needed. “If you're a smart player in this market, in view of Fortress Investment's successful IPO and huge valuation, you might as well strike and you want do it ASAP before the field gets crowded," said Tom Taulli, author of "Investing In IPOs." Hedge fund Fortress Investment went public in February.
PSCA survey shows more companies are considering addition of Roth ...
A survey of 429 plan sponsors by the Profit Sharing/401k Council of America (PSCA) shows that an increasing number of companies are considering adding a Roth 401(k) feature to their retirement plans. The PSCA attributes this increase to the passage of the Pension Protection Act of 2006 (PPA; P.L. 109-280), which eliminated the Roth 401(k) 2011 sunset provisions of the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA). Only 22% of 401(k) plans surveyed by the PSCA offer Roth accounts, and "anxiety over the Roth 401(k)'s 2011 sunset was a major concern among plan sponsors," according to David Wray, president of PSCA. By contrast, 69% of the companies surveyed stated that, now that the EGTRRA Roth 401(k) provisions have been made permanent, they are more likely to adopt a Roth feature.
Martha Stewart aims to be online leader in everything lifestyle
NEW YORK (AP) -- Domesticity diva Martha Stewart aims to parlay her authoritative voice on everything about lifestyle to the millions of women who surf the Internet with the relaunch of her namesake Web site. Martha Stewart Living Omnimedia Inc. -- which scaled back its Web operation as a catalog/e-commerce business in 2005 -- is set to officially relaunch marthastewart.com Tuesday as an information portal. The overhauled site, quietly unveiled late last month, features more than 700 videos, including daily episodes of Stewart's TV shows and how-to clips, provides a community where users can chat about such ideas as the latest recipe for chocolate cake, and features a retooled search engine that allows users to browse either by interest such as the latest scrapbooking techniques or by media property from magazines to TV shows.
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