Posted by James Campos on November 22nd, 2011
The Baby Grand Hotel Company – the business behind the 42 The Calls Hotel in Leeds – has called in administrators.
The company has appointed Rob Croxen, David Crawshaw and Blair Nimmo from KPMG’s restructuring practice to find a buyer for the four-star boutique hotel. It will continue to trade as normal while a buyer is being sought.
Baby Grand is a subsidiary of the London-based Scotsman Hotel Group Limited (SHGL), which itself entered administration at the end of October this year. It has been reported that SHGL was placed into administration by its bankers at Lloyds TSB, after gathering debts of around £50 million.
SHGL has been encountering significant financial difficulties, despite being owned by Saudi hotel magnate, Sheikh Mohamed Bin Issa Al Jaber, who was recently ranked the 93rd richest man in the world. He bought SHGL in 2006 for around £63 million.
Read Full Post…
Posted by James Campos on November 18th, 2011
In February, the U.S. Securities and Exchange Commission launched a fraud investigation into CSCs accounting practices in Denmark. Then, in October, CSC chairman and CEO Mike Laphen announced that he would be resigning from his position within a year. And now, SEC investigators have indicated that they are extending their fraud investigation into CSCs Australian business.
During a recent CSC financial reporting conference call, CFO Mike Mancuso said accounting errors and intentional misconduct by certain personnel in Australia prompted SEC regulators to turn their gaze to Australia.
Read Full Post…
Posted by Margaret Gerber on November 15th, 2011
Singapore shares closed lower on Friday, with the benchmark Straits Times Index at 2,730.34, down 1.72 per cent, or 47.91 points.
Read Full Post…
Posted by William C on November 13th, 2011
Rating agency Moody’s downgrading of South Africa’s credit rating outlook was wrong, Deputy President Kgalema Motlanthe said on Friday. Read Full Post…
Posted by Margaret Gerber on November 10th, 2011
MIDDLESEX, ENGLAND, November 13, 2011 /24-7PressRelease/ — British Airways has been given a major award for the support it provides to charities around the world. The airline was one of three companies to be given a Word Tourism Award at a ceremony at the World Travel Market, in Excel, East London before a specially invited audience.
British Airways received the award in recognition of its annual investment of over GBP5m to support more than 50 charities and community programmes, through free flights, cargo space and expert advice, around the world as well as in the UK.
The World Tourism Awards, celebrating its 14th Anniversary, is co-sponsored by American Express, Corinthia Hotels, the International Herald Tribune and Reed Travel Exhibitions to recognise ‘the extraordinary initiatives by individuals, companies, organisations, destinations and attractions for outstanding accomplishments in the travel industry’. Read Full Post…
Posted by James Campos on November 9th, 2011
I was with my best friend of 22+ years watching some college football this weekend. We of course talked about a variety of things from our many years of friendship. One of the things we chatted about was a story that I’d heard from him and other friends over the years but wasn’t reminded of until recently.
It goes something like this…
A football coach at our high school often talked about the importance of football games in relation to other simple events that occur later in life. The main example that this coach liked to talk about was the frozen food section of a grocery store. Everyone will eventually find themselves in this aisle. While
Read Full Post…
Posted by James Campos on November 4th, 2011
Despite the recent spate of startups scoring millions and even hundreds of millions in venture capital, the number of U.S. funds raising venture capital totaled only 37 in the second quarter of 2011, a 23 percent decrease from the second quarter of 2010, according to data from Thomson Reuters and the National Venture Capital Association (NVCA). This marks the lowest number of VC funds since the first half of 1995.
They may be smaller in number, but the amounts these VC funds are raising continue to climb. Read Full Post…