chambers funds – GF Chamber http://gfchamber.com/ Wed, 22 Jun 2022 20:17:06 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://gfchamber.com/wp-content/uploads/2021/10/icon-1-120x120.png chambers funds – GF Chamber http://gfchamber.com/ 32 32 BRIGHTVIEW HOLDINGS, INC. : Entering into a Material Definitive Agreement, Creating a Direct Financial Obligation or Obligation Under an Off-Balance Sheet Registrant Arrangement, Financial Statements and Exhibits (Form 8-K) https://gfchamber.com/brightview-holdings-inc-entering-into-a-material-definitive-agreement-creating-a-direct-financial-obligation-or-obligation-under-an-off-balance-sheet-registrant-arrangement-financial-statements/ Wed, 22 Jun 2022 20:17:06 +0000 https://gfchamber.com/brightview-holdings-inc-entering-into-a-material-definitive-agreement-creating-a-direct-financial-obligation-or-obligation-under-an-off-balance-sheet-registrant-arrangement-financial-statements/ Item 1.01. Conclusion of a significant definitive agreement. On June 22, 2022, BrightView Financing LLC and BrightView Landscapes, LLCsubsidiaries of BrightView Holdings, Inc. (the “Company”), has entered into the third amendment to the receivables financing agreement (the “Amendment Agreement”), which amends the receivables financing agreement, dated April 28, 2017by and among BrightView Financing LLC(the borrower”), […]]]>

Item 1.01. Conclusion of a significant definitive agreement.

On June 22, 2022, BrightView Financing LLC and BrightView Landscapes, LLCsubsidiaries of BrightView Holdings, Inc. (the “Company”), has entered into the third amendment to the receivables financing agreement (the “Amendment Agreement”), which amends the receivables financing agreement, dated April 28, 2017by and among BrightView Financing LLC(the borrower”), BrightView Landscapes, LLCas the initial repairer, PNC Bank, National Associationas administrative agent and letter of credit bank, PNC Capital Markets LLCas structuring agent, and persons party thereto from time to time as lenders and participants in the letter of credit (as amended by the First Amendment, dated February 21, 2019
and the second amendment, dated February 21, 2021the “Receivables Financing Agreement”).

Pursuant to the Amendment Agreement, the Debt Financing Agreement has been amended (as amended, the “Amended Debt Financing Agreement”) to, among other things: (i) increase the ability to loan thereunder from $250.0 million up to an amount of $275.0 million(ii) extend the Scheduled Termination Date (as defined in the Amended Receivables Financing Agreement) to June 22, 2025 and (iii) join MUFG Bank, Ltd. as a lender and LC participant.

Loans borrowed under the amended receivables financing agreement, at the option of the borrower, bear interest at the annual rate of (i) a guaranteed overnight financing rate; (ii) a guaranteed overnight funding rate calculated daily without compounding; (iii) a base rate or (iv) a one-month guaranteed overnight rate, determined daily.

The Agents, some of the Lenders and some of their respective affiliates have provided and may in the future provide financial, banking and related services to the Company. These parties have received, and may receive in the future, compensation from the Company for these services.

The foregoing description of the Amending Agreement and Amended Receivables Financing Agreement is qualified in its entirety by reference to the full text of the Amending Agreement and Amended Receivables Financing Agreement, which are filed as Exhibit 10.1 to this current report on Form 8-K. and are incorporated herein by reference.

Item 2.03. Creation of a direct financial obligation or an obligation under a

           Off-Balance Sheet Arrangement of a Registrant



The information set out in Section 1.01 is incorporated by reference into this Section 2.03.

Item 9.01. Financial statements and supporting documents.

(d) Exhibits. The following documents are filed herewith:



Exhibit
 Number                                 Description
  10.1       Third Amendment to the Receivables Financing Agreement, including
           Exhibit A thereto, a marked version of the Receivables Financing
           Agreement, dated as of June 22, 2022, by and among BrightView Funding
           LLC, as borrower, BrightView Landscapes LLC, as initial servicer and
           PNC Bank, National Association, as lender, letter of credit bank,
           letter of credit participant and administrative agent.

104        Cover Page Interactive Data File (embedded within the Inline XBRL
           document)

© Edgar Online, source Previews

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Small Payday Loans Online No Credit Check https://gfchamber.com/small-payday-loans-online-no-credit-check/ Sat, 18 Jun 2022 17:29:25 +0000 https://gfchamber.com/small-payday-loans-online-no-credit-check/ Small payday loans online without a credit check Get 100% cash advance online even with bad credit. The best service for fast loans! Loans A credit check can sometimes be applied to some payday loans as well. A credit check is generally not required for many payday loans, but may be requested if the loan […]]]>

Small payday loans online without a credit check

Get 100% cash advance online even with bad credit. The best service for fast loans!

Loans

A credit check can sometimes be applied to some payday loans as well. A credit check is generally not required for many payday loans, but may be requested if the loan is over $10,000. Some lenders require applicants to have a driving record. However, others do not. Your credit score will almost certainly be higher anyway, and your current credit score may not be worth the cost of the loan. Some payday lenders require a social security number or other biometric information for their borrowers. Despite the credit check, you can take small payday loans online without credit check and do it so easily today. You can do it faster and more cost effectively.

Other providers have no minimum deposit or other payment requirements. Once you’ve approved, you’ll receive a confirmation screen and a check in the mail. If your bank hasn’t approved any of your credit cards or you’re a victim of identity theft, you can always contact the lender and ask them to review the information. If the seller hasn’t sent you funds for the debt amount by the time you get to the bank, it’s common for them to simply refund the deposit and return nothing to you.

You will not be charged any fees for refunding the money. Keep in mind that when someone is in a temporary financial crisis, they have no way to recover a cash advance. You won’t be penalized by the lender if you don’t get the promised $300 within seven to ten days of approval. This delay in getting your money is an unfortunate thing for many. If you are able to receive money that you need urgently, use cash advances available for immediate use. These loans offer an inexpensive way to get your money now without having to wait for a credit check. To put it bluntly, it is small online payday loans no credit check and you can take it today. This type of loan is easier to obtain than a bank loan with a lot of paperwork and time.

Why are these types of loans so popular?

Lenders pay a lot of attention to ensuring that the borrower will be able to pay the repayment. With instant loans, you can pay off your payday money in as little as a few minutes. Online Payday Loans, Banks, and Savings Accounts Online loans are available from a variety of credit unions, small and large businesses, and banks. Online loans generally make it easier to get cash advances approved, but there are a few downsides. They can be expensive if you have a large amount, you need to pay early, they can have high interest rates, and they require more frequent paperwork and security such as ID or a guarantor. If you are considering getting a loan, you can always get a small payday loan online without a credit check and it will always benefit you.

Online Payday Loans, Banks, and Savings Accounts Online loans are available from a variety of credit unions, small and large businesses, and banks. Online loans generally make it easier to get cash advances approved, but there are a few downsides. They can be expensive if you have a large amount, you need to pay early, they can have high interest rates, and they require more frequent paperwork and security such as ID or a guarantor.

But online payday loans offer the opportunity to earn more money as an employer with these online loans. You don’t need to have a perfect work history. Some companies allow employees to pay their payroll taxes online with a credit statement and the government will take care of receiving their pay online. If you find yourself in an emergency situation that requires cash, you may want to consider using a cash advance to get cash quickly if you are $500 short or need to get out. quickly from a bad situation.

Monthly fees may be waived for some borrowers, but the loan is generally expensive. The credit scores that companies use to assess the risk of using these types of loans generally do not have the same precision that is used when reviewing a credit score.

Types of loans

The other way to make money fast is through payday loans and cash advances. In this situation, you have a much more limited time to pay off the debt or withdraw the funds as soon as possible. The two most common types of payday loans you come across are cash advances and withdrawals. Cash Advance Payday Cash Advance is a quick way to get cash.

This type of loan is often used to collect charges from your credit card account or to pay a loan from an ATM. Usually, cash advances and cash advances are not used for personal purposes, but for the purpose of withdrawing your money quickly. This type of payday loan gives you up to 10% of the loan principal amount at cash advance rates. Many cash advance lenders charge a higher interest rate than you can receive on your credit card. However, the interest rate is usually very low and often less than 5%. Also, you don’t have to worry about checking your credit history, that’s not the case here, where you can get payday loans no denial direct lenders only and this best way to get quick cash already today.

You won’t have a full credit history before getting a loan. However, instant loans are designed to make it easy for you to pay off debt quickly. The best rate can be made possible with a cash advance loan. Other instant loans Instant loans can be used to make payments on credit cards, student loans or mortgages. You will have an instant interest rate to repay the loan.

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Innovation leader John Shen joins President Biden as the bill is signed at the White House https://gfchamber.com/innovation-leader-john-shen-joins-president-biden-as-the-bill-is-signed-at-the-white-house/ Tue, 14 Jun 2022 21:55:00 +0000 https://gfchamber.com/innovation-leader-john-shen-joins-president-biden-as-the-bill-is-signed-at-the-white-house/ WASHINGTON–(BUSINESS WIRE)–National Business Leader John Shen attended the official signing of the law on the potential establishment of a National Museum of American History and Culture in Asia-Pacific at the White House on Monday, 13 Junee. At the invitation of President Biden, Shen and his colleague Stella Zhang participated in the historic recognition of the […]]]>

WASHINGTON–(BUSINESS WIRE)–National Business Leader John Shen attended the official signing of the law on the potential establishment of a National Museum of American History and Culture in Asia-Pacific at the White House on Monday, 13 Junee. At the invitation of President Biden, Shen and his colleague Stella Zhang participated in the historic recognition of the contributions and challenges faced by the Asian American, Hawaiian, and Pacific Islander (AANHPI) community in the United States.

Shen, a living example of the American dream itself, immigrated to the United States and has since brought in hundreds of millions of dollars through foreign direct investment while reinvesting that wealth in American entrepreneurs.

Simon Pang, long-time partner, executive at the Royal Business Bank and member of the President’s Advisory Committee on AANHPI, said: “This bill brings us closer to the creation of a national museum dedicated to the preservation of the history and culture of the AANHPI community. I am delighted to have been able to share this important moment with industry leaders like John Shen. His story is the story of the American Dream, and John’s ability to harness it for the benefit of all Americans is an example to all.

Over the past 15 years, Shen has founded several companies, created hundreds of jobs in various industries across the country, fostered the innovative ecosystem through venture capital and the creation of the Long Beach Accelerator, partnered to educational institutions to promote greater diversity in start-ups. culture and beyond. Her interest in minority and women-owned businesses is a common thread in Shen’s professional successes.

Shen’s current suite of businesses includes a wide range of business models, including:

  • American Lending Centera non-bank community lender focused on facilitating EB-5, PPP and government-backed lending programs.
  • Sunstone Managementa private equity and venture capital firm that prioritizes fair and accessible investments in start-ups for the next generation of entrepreneurs.
  • Sunstone Trust Companya wealth management services firm specializing in serving first and second generation immigrants and one of California’s eight licensed trust companies.
  • Collective Participatean innovative combination of ghost kitchen, test kitchen, food hall and retail market.

Shen commented, “I am honored to be at the White House at the invitation of President Biden to celebrate our culture at a time when many in our community are facing challenges. This bill is a demonstration of our national commitment to recognizing the contributions of the AANHPI community of which I am so proud to be a member.

About Sunstone Management: Fastest growing US company according to the Financial Times (FT)

Sunstone Management, together with the Sunstone Venture Capital Fund, is a diversified private equity management and investment firm providing comprehensive wealth management solutions to high net worth clients worldwide. Sunstone proactively forges both public-private partnerships with government agencies and industry-academia partnerships with nonprofit educational organizations to promote economic development, championing the growth of the local innovative ecosystem. Sunstone also excels in leading commercial development projects in emerging sectors to support community development and to facilitate economic recovery under COVID-19.

About the American Lending Center: Fastest growing US company according to the Financial Times (FT)

American Lending Center (ALC) is a private, non-bank lending institution and a nationally recognized leader in small business lending. Between 2009 and 2020, ALC offered strategically structured senior loan products to more than 80 qualified SBA 504 projects in 19 states, contributing to a combined construction and business expansion budget of over $1 billion. ALC’s lending practice has successfully created over 12,000 new jobs nationwide. As one of the few non-bank institutions designated to provide immediate financial assistance to struggling small businesses, ALC has provided PPP loans to nearly 30,000 small businesses in all 50 states and Washington, DC.

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Six easy ways to reduce your debt, from cut loans to flash credit cards https://gfchamber.com/six-easy-ways-to-reduce-your-debt-from-cut-loans-to-flash-credit-cards/ Sat, 11 Jun 2022 20:27:00 +0000 https://gfchamber.com/six-easy-ways-to-reduce-your-debt-from-cut-loans-to-flash-credit-cards/ PRICES are skyrocketing from gas pumps to supermarket checkouts, but the pressure on the cost of living is even worse if you are already in debt. High interest rates mean you risk spending huge sums on repayments without reducing the amount you owe. 2 Six Ways to Reduce Your Debt Quickly and Easily Rosie Murray-West […]]]>

PRICES are skyrocketing from gas pumps to supermarket checkouts, but the pressure on the cost of living is even worse if you are already in debt.

High interest rates mean you risk spending huge sums on repayments without reducing the amount you owe.

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Six Ways to Reduce Your Debt Quickly and Easily

Rosie Murray-West reveals smart switches to clear debt faster and potentially save thousands of dollars. . .

LIGHTEN YOUR LOANS

IF you took out a loan a few years ago, you may be paying more than expected.

Using a new loan at a lower rate to pay off an old one can sometimes make sense.

M&S Bank offers loans with APRs below 4%, compared to an average of 7.4% in June 2020.

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That would mean saving over £340 a year on a £10,000 loan.

But you’ll need to consider the settlement fees that most lenders charge if you cancel your loan early.

This can add up to two months interest, or £122 in the example above.

Not everyone gets the rates advertised by lenders, as these are reserved for those with good credit.

Check which loans you are most likely to get without hurting your score by using an eligibility tool such as the one on moneysavingexpert.com.

RELEASE OF EXERCISE EQUITY

OLDER homeowners who have borrowed against the value of their home with a capital release plan can sometimes see massive savings by switching if they entered into their contract more than three years ago.

Interest rates on equity release plans have dropped dramatically in recent years.

The average switcher saved around £52,000 last year, according to capitalization adviser Age Partnership.

Plans often come with steep prepayment charges, but the switch may be worth it if the savings are greater.

Always consult an independent stock release adviser registered with the Financial Conduct Authority.

REDUCE YOUR MORTGAGE RATE

ALLOWING your mortgage to switch to your lender’s standard variable rate (SVR) at the end of a fixed or trailing agreement could cost you thousands of dollars every year.

The average SVR, according to Moneyfacts, is now 4.91%, while the average two-year fixed rate is 3.25% and five-year 3.37%.

For a £250,000 mortgage, you could save £2,760 a year by switching from a typical SVR to an average two-year solution – and some deals available could save you even more.

Your current lender will also offer you new rates when your agreement expires, so check them out.

If in doubt, take advice from an independent broker.

BLITZ CREDIT CARD BALANCE

Don’t let credit card debt linger. If you only pay the minimum each month, it could take decades to clear.

Making just the average minimum monthly payment of 2.5% on a balance of £5,000 means it would take you almost 38 years to pay off and cost almost £15,000 in total, with a typical interest rate of 22 %.

Upgrade to a balance transfer credit card for an interest-free window of up to 34 months.

Divide the total debt into monthly payments and set up direct debit to ensure you clear the balance during this time. If that’s not possible, try again to switch to a new card.

But not everyone can get the best balance transfer deals because they require a great credit rating.

Rachel Springall, from the comparison site moneyfacts.co.uksaid that even if you can’t make a 0% deal, you can still save thousands of dollars by moving debt to a low-interest card.

Find out which cards you’re most likely to get with the eligibility check at moneysavingexpert.com.

When you transfer your debt to one of these cards, you normally pay a one-time charge of two to three per cent of the balance, or £100 to £150 if you transfer £5,000.

ELIMINATE OVERDISCOVERY FEES

Dipping into your overdraft can be one of the most expensive ways to borrow, with some banks charging 40% interest, almost double the average credit card rate.

Move to a bank with free overdraft. Nationwide’s FlexDirect pays you up to £125 to change and has an interest-free overdraft for the first year. The amount you can borrow depends on your situation.

First Direct’s first account pays Switches £125 and offers £250 free overdraft. Both providers have online eligibility checkers so you can see if you’re likely to qualify – important if you’re already overdrawn.

To pay off larger overdrafts, a money transfer credit card might give you interest-free respite, but beware of fees.

“INTEREST-FREE CREDIT CARDS LET ME BORROW TO GROW MY BUSINESS”

HYPNOTHERAPIST Emma Gosling borrowed £5,000 on a credit card in 2019 to pay a mentor to help her grow her business.

But with an interest rate of 19%, the costs could have skyrocketed.

The 47-year-old from St Albans, Herts transferred that debt to two new credit cards, a move which gave her 27 months interest-free.

She has now cleared the debt without paying a cent in interest.

“I’m glad I used the cards,” Emma said.

“I couldn’t afford to pay for the mentorship up front, so it was a good fit.”

ENERGY AID RISK FROM TENANTS

MORE than half a million tenants may not qualify for government help with their energy bills, warns Citizens Advice.

The charity estimates that one in eight tenants of private landlords, or around 585,000 people, could be affected.

More than half a million tenants may miss out on government help with energy bills, warns Citizens Advice

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More than half a million tenants may miss out on government help with energy bills, warns Citizens AdviceCredit: Getty – Contributor

Tenants cannot claim the £150 warm house rebate if their landlord is managing their bills, and they could also be denied the government’s £400 energy grant in October.

You can only receive cash assistance if you pay your energy supplier directly.

You can try talking to your landlord or managing agent of the shed to see if they’re willing to pass on some or all of it, but there’s no legal obligation to do so.

The charity has seen cases where vulnerable tenants have been denied the long-standing Warm Home discount.

A man with mental health issues who had less than £10 on his prepaid meter could not claim payment because he was not the named payer.

Dame Clare Moriarty, chief executive of Citizens Advice, said: “We are concerned that many tenants will fall through the cracks, putting them at risk of running out of money to help meet bills that soar.”

Tenants who pay their energy bills directly have the right to choose their supplier and have a smart meter installed, but must notify their landlord or rental agent.

If your energy bills are included in your rent, this should be stated in your tenancy agreement, but there may be a ‘fair use’ clause limiting how much you can use.

If your landlord pays for your energy and then resells it to you, they can only charge you for the units of energy you have used and your share of the permanent charge, plus VAT.

A government spokesperson said: “We want energy bill support payments to go to those who end up paying the bills, including tenants in private rental accommodation.

“We are working closely with consumer groups and suppliers to ensure this happens so that from October people receive the £400 deduction they are entitled to.”


THOUSANDS of women could lose huge sums as a result of new state pension mistakes, a former minister has warned.

Sun Money has already called on the government to step up efforts to reimburse around 134,000 pensioners, mostly women, who missed around £1billion due to earlier mistakes.

The Department for Work and Pensions is trying to identify those who were underpaid and fill the gaps, but 40,000 pensioners are thought to have died without getting their due.

The latest mistakes uncovered by former pensions minister Sir Steve Webb, now a partner at consultancy LCP, affect women on the new state pension who previously paid a reduced National Insurance rate known as ” married woman stamp”.

They have the right to claim part of their state pension on the basis of their husband’s contributions.

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But some have been wrongly told they have no rights when in fact they owe more than £4,000 a year.

If you have paid the married woman’s stamp, you can check your rights by calling The Pension Service on 0800 731 0469.


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Looking for high-yielding, dividend-paying stocks? JMP suggests 2 stocks to buy https://gfchamber.com/looking-for-high-yielding-dividend-paying-stocks-jmp-suggests-2-stocks-to-buy/ Thu, 09 Jun 2022 23:16:30 +0000 https://gfchamber.com/looking-for-high-yielding-dividend-paying-stocks-jmp-suggests-2-stocks-to-buy/ The average retail investor, looking for profits in today’s confusing market environment, can usually choose one of two basic strategies. The former is the stock market’s traditional route, that of stock appreciation, while the latter is the safer, more defensive route, via dividend payers. But what if an investor doesn’t need to choose between these […]]]>

The average retail investor, looking for profits in today’s confusing market environment, can usually choose one of two basic strategies. The former is the stock market’s traditional route, that of stock appreciation, while the latter is the safer, more defensive route, via dividend payers. But what if an investor doesn’t need to choose between these paths?

According to JMP Securities, such a dual strategy may be available to investors at this time in the form of alternative asset management companies. These are typically small to mid-cap companies, providing financing and access to capital services to small and medium-sized enterprises, a sector that has historically driven innovation and job creation. in the American economy. As JMP’s Brain McKenna writes in a recent industry note, “The alternative asset management industry has been one of (if not) the fastest growing segments within financial services. , driven by a confluence of powerful secular tailwinds…”

McKenna also dives into the inner workings of several alternative asset managers. We used the TipRanks platform to get the details of two of its picks. From JMP’s perspective, these two stocks could generate a combination of sizable capital gains and dividend income, making them a potential double-fist payday for investors. Let’s take a closer look.

Blue Owl Capital (OWL)

We’ll start with Blue Owl Capital, a leading provider of private market capital solutions. The company offers its services through three direct lender subsidiaries, Owl Rock, Oak Tree and Dyal Capital. Working through these lenders, Blue Owl has over $102 billion in assets under management and oversees its operations through 9 offices in North America, Europe and Asia.

Blue Owl formed last year, through a SPAC deal completed in May. The agreement, which had been approved by the companies involved in March, provided for the combination of Owl Rock and Dyal Capital with Altimar Acquisition Corporation. Blue Owl’s ticker began public trading on May 20, 2021, and the company had $52.5 million in assets under management as of that date.

In the first quarter of this year, Blue Owl saw strong increases in business. The company’s total assets under management, referenced above at $102 billion, represent a 76% year-over-year gain, while its retail fundraising is up 172% year-on-year , reaching $2.2 billion. These strong aggregate capital gains underpin Blue Owl’s strengths.

Additionally, having a lot of capital allows Blue Owl to easily pay its dividend. The company reported a common stock payout of 10 cents for 1Q22, a payout that cancels out at 40 cents and yields a 3.2% return. Blue Owl has only been paying its dividend for four quarters – but it has increased the payment twice in that time.

Initiating OWL coverage for JMP, analyst Brian McKenna likes what he sees in the company’s continued growth prospects. He writes, “In the industry today, there aren’t many companies that tick all of these boxes: a) high-growth, ERF-centric model; b) the vast majority of AUM is perpetual (permanent); and c) a capital-light model that returns a large portion of profits to shareholders in the form of dividends. That said, Blue Owl is an alternative manager that ticks all of these boxes, and we believe its business (and stock) is positioned to outperform over the longer term given this momentum.

A company with such a bullish outlook on returns should get a solid benchmark, and McKenna gives the stock an outperform (i.e., buy) rating. Its price target of $18 implies a one-year upside potential of around 45%.

JMP isn’t the only investment firm to give OWL stocks a good rating. The stock enjoys unanimous consensus on Strong Buy, based on 5 recent positive analyst reviews. The shares are priced at $12.37 and their average price target of $16.75 indicates upside potential of 35% over the coming year. (See OWL stock forecast on TipRanks)

Carlyle Group (GC)

The next is Carlyle Group, a financial services company active in the multinational private equity and asset management sectors. Carlyle has 26 offices around the world, through which it manages some $325 billion in total assets. The Company’s segments include Global Private Equity, Global Credit and Global Investment Solutions.

Global Investment Solutions is the smallest of the segments, accounting for $65 billion of total assets under management. Global credit, with $91 billion, is next, and the global private equity segment, which manages some $169 billion in assets, accounts for the largest share of the company’s business.

Carlyle shares are down 30% this year, making its losses much larger than the broader markets. These losses came even as the company’s earnings remain strong. At $1.58 billion, Carlyle’s 1Q22 revenue generated more than a company-record $183 million in fee-related revenue – FRE, a key industry metric. The company’s FRE increased by 42% year over year. On a negative note, the first quarter revenue line was down 34% from the prior year quarter.

Even though revenues were down, the company still has a growing FRE and a balance sheet of $22 billion in total assets. This gave management confidence to increase the dividend by 25 cents to 32.5 cents per common share. With an annualized rate of $1.30, this dividend yields 3.4%.

Among the bulls is JMP’s McKenna who views the risk/reward ratio here as compelling with substantial upside potential.

“Covering the space for almost a decade, we have observed that when the market places very little or no value on performance-related earnings, it is usually an attractive risk/reward opportunity, and we believe that is the case for Carlyle today….We understand that it is always difficult to accurately predict when achievements will return…we are confident that performance related benefits will come back into vogue over time at as markets/volatility stabilize, and we believe Carlyle will stand out on that front with $4B+ in net accrued interest,” McKenna said.

All of this prompted McKenna to initiate a hedge on CG with an outperform (i.e. buy rating) and $12 price target. This target reflects his confidence in CG’s ability to grow by around 60% over the next year.

Overall, CG is getting a Moderate Buy from Wall Street analyst consensus. This is based on 11 ratings, including 8 buys and 3 takes. The shares are trading at $37.77 and the mid-price target of $62.09 suggests the stock is up around 64% from current levels. (See CG stock forecast on TipRanks)

To find great stock trading ideas at attractive valuations, visit TipRanks’ Best Stocks to Buy, a recently launched tool that brings together all of TipRanks’ stock information.

Disclaimer: The views expressed in this article are solely those of the analysts featured. The Content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.

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Better.com and Vishal Garg violated securities and labor laws, says former executive https://gfchamber.com/better-com-and-vishal-garg-violated-securities-and-labor-laws-says-former-executive/ Wed, 08 Jun 2022 17:55:36 +0000 https://gfchamber.com/better-com-and-vishal-garg-violated-securities-and-labor-laws-says-former-executive/ A former senior executive of better.com claims the digital non-bank lender and its chief executive officer and founder Vishal Garg violated securities and labor laws as the company plans to go public through a merger with a blank check company. Sarah Pierce, former executive vice president for customer experience, sales and operations, filed a lawsuit […]]]>

A former senior executive of better.com claims the digital non-bank lender and its chief executive officer and founder Vishal Garg violated securities and labor laws as the company plans to go public through a merger with a blank check company.

Sarah Pierce, former executive vice president for customer experience, sales and operations, filed a lawsuit Monday in federal court for the Southern District of New York, including Better Holdco, Garg and General Counsel Nicholas Calamari as defendants. .

She included several claims in the lawsuit, such as violation of labor laws, defamation and breach of fiduciary duty. It seeks approximately $200 million in compensatory damages, punitive damages and civil penalties, interest and other costs.

Better.com’s attorney said the allegations were without merit. “The company has confidence in our financial and accounting practices, and we will vigorously defend this lawsuit.” The Wall Street Journal first report on the case.

Pierce worked for Better.com for more than five years, reporting directly to Garg from September 2020 to February 2022. She reportedly complained unsuccessfully to executives and the board about the CEO’s “misleading” statements.

On one occasion, after laying off 900 employees via Zoom and receiving a mountain of poor media coverage in December 2021, Garg reportedly told the board and investors that the company would report a profit by the end of the month. first quarter of 2022.

However, Pierce and other senior executives have explicitly stated that this is impossible. In partnership with the financial management, she prepared a detailed report showing that the company could not reach profitability until the third quarter of 2022 at the earliest.

On another occasion, Better.com allegedly misled investors in a May 2021 document that reported that 30% of direct-to-consumer funded loans in 2020 came from converted internet traffic without paid marketing efforts.

According to Pierce, the correct share was only 12%. She reportedly voiced her concerns about the misrepresentation to Garg and Calamari, but claimed they ignored her.

Better.com is privately held but in May 2021 announced plans to go public for $7.7 billion via a merger with the blank check company Aurora Acquisition Company, Sponsored by Capital of Novatar. The transaction was expected to take place in the fourth quarter of 2021.

But the company is struggling to cope with rising mortgage rates, dwindling refinances and the need to invest in new products amid fierce competition.

In November 2021, Better and Aurora entered into a new agreement, including $750 million in bridge financing from a venture capital fund Soft Bank. The companies did not provide a new date to close the transaction.

Since then, Better.com’s performance has deteriorated. According to an amended S-4 filed by Aurora with the Security and Exchange Commission (SEC) in April, the company posted a loss of $303.8 million in 2021, unlike its profitable non-bank counterparts.

Consequently, Better.com announced layoffs involving more than 4,000 employees since December. Garg gained infamy when he fired 900 employees during a Zoom meeting in December. In early March, the company cut 3,000 additional jobs, some of them in India. In April, the company carried out a third layoff.

According to the lawsuit, for several months prior to the layoffs, Garg ordered top executives to hire hundreds more people, despite the difficult landscape for mortgage companies because “President Biden will die of COVID.”

The former executive said Garg ignored the California Worker Adjustment and Retraining Notification Act, which requires 60 days notice for compensation for terminated employees.

In the lawsuit, Pierce claimed the CEO and company retaliated against her, blaming the company’s deteriorating financial condition on her incompetence, putting her on unexplained administrative leave and cutting off her computer access. and to email.

According to Pierce, Garg wrote an email to the board saying that “the company’s metrics are a black box” and that the company would seek to replace her by hiring a “seasoned operator who can help manage and drive performance across all business functions. .”

Her job was terminated on February 4, 2022, without cause, severance or benefits, she claimed. Pierce also filed a complaint alleging retaliation with the Occupational Safety and Health Administration.

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Top 5 Money-Related Changes in June https://gfchamber.com/top-5-money-related-changes-in-june/ Sat, 04 Jun 2022 01:28:41 +0000 https://gfchamber.com/top-5-money-related-changes-in-june/ From Loan IMEs, Auto Insurance to Deposits: The Top 5 Money-Related Changes in June Now that June has begun, many monetary policy changes announced by banks, insurance companies and other agencies last month have come into effect and some will be in place by the end of this month. . All of these changes will […]]]>

From Loan IMEs, Auto Insurance to Deposits: The Top 5 Money-Related Changes in June

Now that June has begun, many monetary policy changes announced by banks, insurance companies and other agencies last month have come into effect and some will be in place by the end of this month. . All of these changes will have an impact on your budget planning.

Whether you’re taking out a home loan or planning to buy a car or just want to put your hard-earned money into deposits, some key changes took place in June. Some lenders have made key revisions to their home loan interest rates, savings deposit rates and service charges from June.

In addition, car and bicycle owners will now have to pay a higher liability insurance premium. In addition, the penalty amount is doubled to Rs 1,000, if the PAN-Aadhaar link is not completed by June 30. To relieve LPG consumers, the purchase of commercial cylinders has become cheaper this month.

Here are the main changes in June:

1. Lend EMI to increase

Various lenders, including SBI and HDFC, have raised their interest rates on home loans. The State Bank of India (SBI) has raised its interest rates on home loans effective June 1, 2022. The bank has raised the External Benchmark Lending Rate (EBLR) by 40 basis points to 7.05% plus CRP and the repo rate-linked lending rate (RLLR) increased to 6.65% plus CRP.

On ordinary home loans, SBI interest rates vary between 7.05% and a maximum of 7.35%. A concession of 5 basis points is granted to women borrowers subject to a minimum RER, ie 7.05%.

HDFC Retail Prime Lending Rate (RPLR), on which its adjustable rate home loans (ARHL) are referenced, increased by 5 basis points, effective June 1. With this 5 basis point increase, the total interest rate hike will be 40 basis points for HDFC home loan borrowers. A basis point is one hundredth of a percentage point.

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Two other lenders ICICI Bank and Punjab National Bank (PNB) have also announced a hike in their marginal cost-based lending rates (MCLR). PNB, a public bank, raised its marginal cost of funds-based lending rate by 15 basis points. The increased rates come into effect on June 1, according to the PNB website.

Private sector lender ICICI Bank has also revised the marginal cost of funds-based lending rate with effect from June 1, 2022, according to its website.

The Bank of India has also increased the marginal cost of funds based lending rate over a certain term with effect from June 1, 2022.

2. Premium for Flagship Insurance Plans PMJJBYPMSBY browsed

The Center has increased the premium of its flagship insurance schemes – Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Pradhan Mantri Suraksha Bima Yojana (PMSBY) to make them economically viable. The revision of premium rates was carried out for the first time in seven years for these two plans.

The premium rate of PMJJBY has been revised upwards to Rs 1.25 per day, which translates into an increase of Rs 330 to Rs 436 per year. The annual premium for PMSBY has been increased from Rs 12 to Rs 20, according to an official statement. The new premium rates come into effect on June 1, 2022.

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3. Be prepared to pay a double penalty, if the PAN-Aadhar link is made after June 30

Taxpayers have until June 30 to bind their PAN and Aadhaar with a late fee of Rs 500, according to a circular issued by the Central Board of Direct Taxes (CBDT). However, if this PAN-Aadhaar link is made on or after July 1, the penalty amount will be Rs 1,000.

With penalty fee, the Center has extended the deadline for linking the PAN card to the Aadhar number till March 31, 2023. The previous deadline was March 31, 2022.

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4. Motor vehicle liability insurance premium increases

Under the revised premium rates, passenger cars with engine capacities of up to 1,000 cc will attract an increased rate of Rs. 2,094. On the other hand, while cars with engine capacities ranging from 1,000 cc to 1,500 cc have to pay a premium of Rs. 3,416, those with an engine capacity above 1,500cc will have premium rates of Rs. 7,897.

For two-wheelers, if the engine capacity is between 150 cc and 350 cc, the premium rate will be Rs. 1,366. Above 350 cc, the premium amount will be Rs. 2,804. One can You can also select three-year insurance plans with separate premium rates.

5. Lower LPG price

The Petroleum Marketing Companies (OMC) have reduced the price of commercial 19kg LPG cylinder by around Rs 135 with immediate effect from June 1. In Delhi, the commercial 19 kg bottle now costs Rs 2,219 from the previous level of Rs 2,355.50 per bottle. In Mumbai, the price of LPG is lowered to Rs 2,171.50 per cylinder from Rs 2,307 while in Kolkata, a consumer will have to pay Rs 2,322 per cylinder instead of Rs 2,455. of Rs 2,508, a customer will have to shell out Rs 2,373 in Chennai.

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Texas Powerhouse gets approval to use money from lender at ch. 11 https://gfchamber.com/texas-powerhouse-gets-approval-to-use-money-from-lender-at-ch-11/ Thu, 02 Jun 2022 20:58:00 +0000 https://gfchamber.com/texas-powerhouse-gets-approval-to-use-money-from-lender-at-ch-11/ By Vince Sullivan (June 2, 2022, 4:58 p.m. EDT) – The owner of a Texas power plant received approval on Thursday to access cash from its secured lenders when a Delaware judge ruled that the money was necessary to maintain operations and preserve the value of its assets prior to a Chapter 11 sale. In […]]]>
By Vince Sullivan (June 2, 2022, 4:58 p.m. EDT) – The owner of a Texas power plant received approval on Thursday to access cash from its secured lenders when a Delaware judge ruled that the money was necessary to maintain operations and preserve the value of its assets prior to a Chapter 11 sale.

In a virtual court ruling, U.S. Bankruptcy Judge John T. Dorsey dismissed unsecured creditor Direct Energy Business Marketing LLC’s objections to Ector County Energy Center LLC’s request to use cash collateral from its secured lenders, claiming that money is essential. debtor’s bankruptcy plans and terms are…

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KEMPHARM, INC: Entering into a material definitive agreement, consummating the acquisition or disposition of assets, creating a direct financial obligation or an obligation under an off-balance sheet arrangement of a registrant , financial statements and exhibits (Form 8-K) https://gfchamber.com/kempharm-inc-entering-into-a-material-definitive-agreement-consummating-the-acquisition-or-disposition-of-assets-creating-a-direct-financial-obligation-or-an-obligation-under-an-off-balance-sheet/ Wed, 01 Jun 2022 10:09:13 +0000 https://gfchamber.com/kempharm-inc-entering-into-a-material-definitive-agreement-consummating-the-acquisition-or-disposition-of-assets-creating-a-direct-financial-obligation-or-an-obligation-under-an-off-balance-sheet/ Item 1.01. Conclusion of a significant definitive agreement. On May 31, 2022, Kem Pharm, Inc. (“KemPharm” or the “Company”), a Delaware company, and Améris Bankas a lender, entered into a US$20.0 million revolving loan agreement (the “loan agreement”). The proceeds of the revolving credit facility provided for in the loan agreement are to be used […]]]>

Item 1.01. Conclusion of a significant definitive agreement.

On May 31, 2022, Kem Pharm, Inc. (“KemPharm” or the “Company”), a Delaware
company, and Améris Bankas a lender, entered into a US$20.0 million
revolving loan agreement (the “loan agreement”). The proceeds of the revolving credit facility provided for in the loan agreement are to be used for general corporate purposes. Loans under the Loan Agreement will bear interest at forward SOFR (as defined in the Loan Agreement) plus 1.60%, with a forward SOFR floor of 0.00%.

The revolving facility under the loan agreement is secured by a perfected security interest in deposit accounts. The revolving facility under the loan agreement is subject to customary restrictive and positive covenants.

The last due date for loans under the Loan Agreement is May 31, 2025. The loan agreement contains customary events of default that could cause loans to accelerate, including cross defaults, bankruptcies and defaults.

The foregoing description of the Loan Agreement does not purport to be complete and is qualified in its entirety by reference to the Loan Agreement, which is filed as Exhibit 10.1 herein, and is incorporated by reference into this current report. on Form 8-K.

Section 2.01. Completion of acquisition or disposal of assets.

On May 31, 2022the Company, through KemPharm Denmark A/S (the “Buyer”), a newly established Danish company and wholly owned subsidiary of KemPharmcompleted the acquisition from Orphazyme A/S as part of a restructuring, a Danish public limited company (“Orphazyme”) of all of Orphazyme’s assets and operations related to arimoclomol and settled all actual debts unpaid debts of Orphazyme towards its creditors with a cash payment of US$12.8 million (the “Asset Purchase”), pursuant to the previously announced Asset Purchase Agreement (the “Purchase Agreement”) with Orphazyme, dated May 15, 2022by and between the Company, the Buyer and Orphazyme.

Section 2.03. Creation of a Direct Financial Obligation or an Obligation under a

           Off-Balance Sheet Arrangement of a Registrant.


The information set out above in point 1.01 is incorporated by reference in this point 2.03.

Section 9.01. Financial statements and supporting documents.

(a) Financial statements of acquired businesses.

Financial statements required to be filed under Item 9.01(a) of this current report on Form 8-K shall be filed by amendment to this current report on Form 8-K no later than 71 days after the date on which this current report on Form 8-K must be filed.

(b) Pro forma financial information.

Pro forma financial information required to be filed under Section 9.01(b) of this Current Report on Form 8-K shall be filed by amendment to this Current Report on Form 8-K no later than 71 days after the date on which such current report The report on Form 8-K must be filed.


(d) Exhibits



Exhibit
  No.       Description

10.1          Revolving Loan Agreement dated May 31, 2022 by and among KemPharm,
            Inc. and Ameris Bank, as lender.

104         Cover Page Interactive Data File (embedded within the Inline XBRL
            document)

————————————————– ——————————

© Edgar Online, source Previews

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The climate war between investors and companies is intensifying — Quartz https://gfchamber.com/the-climate-war-between-investors-and-companies-is-intensifying-quartz/ Mon, 30 May 2022 14:14:55 +0000 https://gfchamber.com/the-climate-war-between-investors-and-companies-is-intensifying-quartz/ The group of three hereditary chiefs from the Wet’suwet’en First Nation in British Columbia had traveled the country 2,700 miles (4,345 km) to Toronto. They had come to the headquarters of the Royal Bank of Canada hoping for an improvement in the bank’s climate policy. Instead, they received what they called an insult from its […]]]>

The group of three hereditary chiefs from the Wet’suwet’en First Nation in British Columbia had traveled the country 2,700 miles (4,345 km) to Toronto. They had come to the headquarters of the Royal Bank of Canada hoping for an improvement in the bank’s climate policy. Instead, they received what they called an insult from its CEO.

RBC’s annual meeting of shareholders on April 7 was changed from an in-person meeting to an online-only meeting at the last minute. Gaslink Pipeline, a 416-mile (670 km) project that will cross Wet’suwet’en lands and those of at least 19 other First Nations. Na’Moks Chief John Ridsdale and his peers have expressed concerns about the impacts on water quality and wildlife, the risk of spills and the threat of global climate change. RBC, the fifth largest in the world lender to fossil fuel projects, finances the pipeline.

McKay’s answer was that the bank only accepted projects that it considered to be environmentally friendly and that pipeline “respects First Nations’ free, prior and informed consent obligations.

“Our jaws were literally on the ground,” said Sleydo’, a spokesman for the Chiefs. “We couldn’t understand him trying to tell our bosses he had their consent.”

Things didn’t get much better from there. RBC shareholders rejected four separate climate-related resolutions that would have required the bank, among other things, to publish a report on its environmental strategy and curb lending to fossil fuel companies.

The chiefs weren’t the only climate activists to recently lose a shareholder battle on climate change. A tumultuous two-month series of annual shareholder meetings comes to an end, during which climate-conscious investors raised a ruckus in almost all major American and European banks and oil companies. They have few victories to show for it; most climate-related shareholder resolutions have not received majority support.

As activist shareholder groups strategize for the next year, others plan to take direct aim at corporate leaders who aren’t delivering on climate. And while outright wins remain rare, the voting gap is narrowing as mainstream investors recognize that climate change is a business risk.

“Companies that are not in transition are not good investments,” said Danielle Fugere, president of shareholder group As You Sow. “This message is loud and clear.”

Climate activist shareholders make slow progress in 2022

The 2022 shareholder voting season got off to a strong start, with a winning proposal at Costco in February asking the company to set out a strategy to eliminate carbon emissions from its value chain by 2050. ended in force, with winning resolutions on May 25 at Exxon (to report on its financial exposure to climate risk) and at Chevron (to report on methane emissions).

But there were a lot of losses between the two. Resolutions to limit oil and gas lending to major fossil fuel financiers like Bank of America and JPMorgan received less than 20% of the vote. Resolutions at several oil majors demanding a climate plan in line with the Paris Agreement marked in the 1920s and 30s. Shareholders rejected climate proposals to insurers like Chubb, and voted to approve the below-average climate plans of French oil major Total and Shell. Even startup asset manager Engine No. 1, which orchestrated a climate coup on Exxon’s board last year, vote against proposals from Exxon, Chevron and several banks, saying the proposals were too micromanaging the companies’ operations.

Yet most of these pro-climate proposals have received more shareholder support than they have in recent years. Ben Cushing, campaign manager at the Sierra Club, said more and more investors are demanding that companies heed the International Energy Agency’s warning that no new fossil-fuel infrastructure can be approved if the Paris agreement must remain close at hand.

“It was really important that this central litmus test be brought up in this conversation,” he said. “And getting even 10% in the first year a proposal has been filed is a signal to management that there is a significant number of investors, representing tens of billions of dollars in capital, whose support will continue. to grow.”

Asset managers like BlackRock are holding back climate votes

For more proposals to be successful, they will need to gain the support of the “big three” asset managers – BlackRock, Vanguard and State Street – who each control a disproportionate number of shares in almost all major corporations. Despite adopting their own long-term decarbonization plans, the Big Three still vote against most climate resolutions. On May 11, BlackRock executives said they would support even fewer resolutions this yearsince the resolutions have become more precise and demanding.

While preventing climate risk is in the long-term interest of the portfolios these companies manage, their scrutineers remain opposed to any vote that puts them at odds with the company. In the United States, they are also under pressure from Republican politicians in several fossil fuel-dependent states not to appear biased against the oil and gas industry for fear of losing the lucrative expense of managing public pensions. And in a May 20 comment, an HSBC asset manager suggested another reason for opposition: he and many of his peers don’t see climate impacts as a concern because they’re too far in the future (the manager was suspended after HSBC’s CEO said the comments did not reflect company policy).

If the Big Three really want to get to net zero and protect their customers’ money from climate risk, they don’t have time to politely, privately, ask companies to change, said Eli Kasargod-Staub, executive director of the Majority Action group. They must vote.

“A few years ago, it was very important for them to say that the climate was a risk. It was a low hanging fruit,” he said. “But there is no more fruit within reach and little room for the signal of virtue. Either they continue to approve the expansion and financing of fossil assets, or they don’t.

Board votes are the next front

Another unsuccessful campaign was that of Kasargod-Staub to overthrow Michael Wirth, the CEO of Chevron; Kasargod-Staub said Wirth failed to implement climate resolutions passed at last year’s shareholder meeting. Wirth kept his seat. But Kasargod-Staub said he expects more targeted campaigns against board members next year as proxy battles over climate escalate and become more personal. Ousting executives is the strongest step shareholders can take to hold companies accountable, and the threat of a board battle could make executives more willing to compromise with shareholders over climate issues in advance. These fights are hard to win, but doable, as Engine #1 has proven. New Securities and Exchange Commission the rules adopted in November to streamline the board voting process will help.

“People see the vote against directors as an escalation,” Cushing said, “but it certainly needs to be on the table for investors who feel like their demands and expectations are being ignored.”

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