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$2 a share. JPMorgan also struck a deal to buy 95 million new Bear shares, a stake of 39.5 percent.
All told, the deal will cost JPMorgan roughly $9 billion in stock, transaction-related costs, and potential losses from Bear’s portfolio.
The revised offer was intended to seal the deal and encourage Bear clients and employees to stay put. But employees are facing massive layoffs, with media reports saying up to half of Bear’s staff could get cut.
While doubts about the future of Bear businesses at JPMorgan persist, the bank has decided to integrate Bear’s prime brokerage and clearing operations. It is also keen on keeping the retail brokerage business, which will continue to operate under the Bear name, according to people familiar with JPMorgan’s plans.
Sylvan Park opens restaurant in Donelson.
Down-home restaurant entrepreneur Eleanor Clay is set to open her fourth local eatery at the old Florida Seafood Kitchen building at 2719 Old Lebanon Pike in Donelson.
Clay”s restaurants are known for ‘meat and three’ cuisine that features Southern favorites such a fried chicken, catfish, biscuits and greens. Her flagship eatery is Sylvan Park Restaurant on Murphy Road.
Clay opened Sylvan Park Melrose on Franklin Road in 2004 and bought East Nashville”s Knife and Fork Restaurant last year, renaming it Sylvan Park East.
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Early Stage Investment Forum 2008.
Those cards were handed directly to the entrepreneur. No filtering, vetting, holding, absconding?. Just direct connection. That”s like handing gold to prospector. Further, investors were asked to leave tips, pointers, comments, concerns, praise or anything else in the basket. So, at the end of a pitch, not only do presenters have investor contacts, but useful information. NICE!
Perhaps it”s because of the number of companies (27) presenting, but the diversity of industries represented was really staggering given what a tech-happy town this is. And, for an added bonus, 1/3 of the presenters were women! Last year, I don”t think there were more than 5… This year ? 9 women! WOW!
Lastly, ESIF gave every attendee a thumb drive (best schwag ever, always) that had every single business plan and pitch deck on it.
Game Developer CCP to Improve Services for Players of the World”s.
‘EVE’ offers professions ranging from commodities traderto mercenary, industrial entrepreneur to pirate, mining engineer tobattle fleet commander or any combination of these and much more.From brokering business deals to waging war, you will have access toa diverse array of sophisticated tools and interfaces to forge yourown destiny in ‘EVE.’ Learn more and sign up for a free, 14-day trialat www.eve-online.com.Definition of Subscribers’EVE Online’ subscribers include individuals who have paid asubscription fee or have an active electronic time code (ETC) to play’EVE Online,’ as well as those who have purchased the game and arewithin their free month of access. The above definition excludes allplayers under free promotional subscriptions, expired or cancelledsubscriptions and expired ETCs.About CCPCCP is recognized internationally as an industry-leading pioneer ofthe single-server persistent universe architecture as the developerand publisher of ‘EVE Online,’ the critically acclaimed, sciencefiction-based massively multiplayer online game (MMOG).
HQS” CEO, Norbert Sporns, Named Ernst & Young Entrepreneur Of The.
According to Ernst & Young LLP, the awards program recognizes entrepreneurs who demonstrate extraordinary success in the areas of innovation, financial performance and personal commitment to their businesses and communities. Norbert Sporns was selected as a finalist from nearly 60 nominations by a panel of independent judges. Award winners will be announced at a special gala event on June 13, 2008 at the Seattle Sheraton Hotel & Towers.
‘On behalf of our company, its clients and shareholders, we are honored at being considered. We hope that this award process can further attract attention to the importance of our sustainable toxin-free Aquaculture message and help further reduce pressures on our environment,’ said Mr. Sporns.
The Ernst & Young Entrepreneur Of The Year awards program celebrates its 22nd anniversary this year.
Steve Clemons: New $2 Million Ideas Fund: Competing to be a Soros ‘Ideas Entrepreneur’.
Creativity funds — money to help smart people take risks, even for a year — are vital to our times, and I think that this kind of investment in tomorrow”s ideas and policy infrastructure is vital today.
— Steve Clemons publishes the popular political blog, The Washington Note
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Tata Motors now shifts upscale.
Indian automaker Tata Motors Ltd. has acquired an entry ticket to the world”s richest car markets and a privileged clientele that includes the Queen of England after purchasing the Jaguar and Land Rover brands for $2.3 billion.
For the family-run Tata Group, a cash-rich $29 billion conglomerate whose companies include Tata Motors, Wednesday”s deal represents its boldest foray in a series of overseas acquisitions ranging from steel mills to luxury hotels.
In the past 10 years, Tata has bought Anglo-Dutch steel giant Corus Group to become the world”s sixth-largest steelmaker, the Daewoo commercial vehicles business, Britain”s Tetley tea company and several American hotels, including the Pierre in New York.
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Workshops aim to assist startup businesses.
DURANGO Durango”s community center will host a conference designed to help would-be entrepreneurs start their own businesses.
The April 9 conference will be at the Sunlight Room of Durango”s Recreation Center, 2700 Main Ave.
Featuring local banker Beverly Ellis of First National Bank in Durango, the conference will enable people who want to start their own businesses to learn the technicalities, the legalities and the risks and benefits of doing so.
‘First National Bank is a sponsor,’ Ellis said. ‘Joe Keck starts off the workshop with a lot of valuable information, then I follow him with information about how to find a banker and deal with banking issues.’
Ellis spoke at the group”s last workshop a few months ago.
‘She gave advice on the state of the market and on loan availability,’ said Colorado Small Business Development Center Media Coordinator Rachel Beckelhymer.
Bush Asserts Progress in Iraq.
PRESIDENT BUSH: I am really pleased to be back to Wright-Pat. And it”s great to be on the inside of the National Museum of the United States Air Force, which is a fabulous place. I hope our fellow citizens come and see it. It is a great tribute to the airmen who have flown the missions and secured the skies and defended America”s freedom.
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Cogeneration to help Eskom avoid power cuts to platinum mines - 27th March 2008.
Over 100 South African industrial companies and entrepreneurs have told Eskom that they were interested in generating additional power, the firm has said.
Eskom extended the deadline for cogeneration bids from February to the end of May and following the positive response it could receive a maximum of 3,000 MW of power.
The firm said that cogeneration was a new concept and many different aspects needed to be involved including ‘national legislation’.
South African suppliers capable of in putting a minimum of one megawatt of electricity continuously were asked to contact Eskom if they could have facilities in place by 2012.
Industries capable of offering between five MW and 100 MW were also asked in a separate phase.
‘We have begun preparing tender documents for these potential generators and will be releasing them by the end of March 2008 for interest, until the end of November 2008,’ a statement from the energy supplier read.
