InterAmerican Acquisition Group & China New Cities Development Announce Favorable Changes to Sing Kung Acquisition Terms Nov 11, 2008
-- Pro Forma Earnings Guidance Reaffirmed for 2008 but 2009 Incentive Share Issuance Eliminated -- Details To Be Presented At Rodman aw Annual Global Investment Conference InterAmerican Acquisition Group Inc. (OTC Bulletin Board: IAQG; IAQGW; IAQGU) and its wholly-owned subsidiary, CNC Development Ltd. ("China New Cities Development") announced today that an agreement-in-principle has been reached among the founders of InterAmerican Acquisition Group, Inc. ("IAG") and a requisite majority of... (PR Newswire)
Rodobens Negocios Imobiliarios Announces Third Quarter and Nine-Month 2008 Results Nov 11, 2008
(1) Pro forma figures, adjusted according to new mandatory Brazilian accounting practices applicable to current year 2008, as per CVM Instruction #469 as of 05/02/08 and IBRACON's Technical Notice #5 as of 07/04/08. The pro forma figures presented herein are lower than those recorded without the accounting adjusted mentioned above. (PR Newswire)
Hurt by Auto Market, Sirius-XM Posts Loss Nov 11, 2008
In its first release since merging, Sirius-XM disclosed a pro forma net loss of $217 million, or nine cents per share, compared to a net loss of $265. 5 million, or 18 cents per share, a year ago. (Fox News)
Sirius XM Takes $4.8 Billion Charge Due to Share Plunge Nov 11, 2008
It said its pro forma third-quarter loss was $217 million, or 9 cents a share, compared with $265 ... The pro forma figures assume that Sirius and XM were one company a year ago ... Pro forma revenue rose 16 percent to $613 million. (ABC News -- Wire)
Macrovision Solutions Corporation Provides 2009 Financial Estimates Nov 11, 2008
--(BUSINESS WIRE)--Macrovision Solutions Corporation (NASDAQ: - ) announced at its Investor Day today that it expects to generate Revenue of between $460 and $500 million and Adjusted Pro Forma earnings per share (EPS) of $1 ... In addition to the assumptions provided below regarding Adjusted Pro Forma information, Macrovision Solutions Corporation encourages investors to review a copy of the investor presentation from todays Investor Day, which can be found on Macrovision Solutions... (Yahoo! Wire -- Entertainment News)
Ticketmaster Entertainment, Inc. Reports Third Quarter 2008 Earnings Nov 11, 2008
Ticketmaster's primary metric is Earnings before Interest, Income Taxes, Depreciation and Amortization ("EBITDA"), which is defined as operating income excluding, if applicable: (1) depreciation expense (2) non-cash compensation expense, (3) amortization and impairment of intangibles, (4) goodwill impairment, (5) pro forma adjustments for significant acquisitions, and (6) one-time items ... EBITDA is defined as operating income excluding, if applicable: (1) depreciation expense (2) non-cash... (Yahoo! Wire -- Entertainment News)
• Prison operator moves on after losing Idaho deal Nov 9, 2008
"The discontinuation of GEO's contract with the Idaho DOC will have no material impact on GEO's previously issued pro forma earnings guidance for the fourth quarter of 2008," according to a GEO press release Friday. GEO made 4. (Burley South Idaho Press, ID)
5 Inspiring the Tired, the Worn Out ... the IT Pro Nov 8, 2008
Inspiring the Tired, the Worn Out. Datamation columnist offers a light-hearted proposal. (Datamation)
FNF to acquire LandAmerica Nov 8, 2008
3 percent of the market share based on pro forma 2007 data from the Demotech Performance of Title Insurance Companies 2008 Edition, the company stated. Pending approval by LandAmerica s shareholders and regulators, the agreement reduces debt among both companies by about $250 million before the deal closes. (Jacksonville Business Journal, FL)
FairPoint posts 3Q loss of $25.1M Nov 8, 2008
In the same period last year, the pro forma earnings for the combined FairPoint and Verizon businesses totaled $17 million, or 19 cents per diluted share ... 3 million from pro forma sales of $381 million in the third quarter of 2007. (Charlotte Business Journal, NC)
Cohen & Steers, Inc. Executives to Speak at Merrill Lynch Investor Conference Nov 7, 2008
The presentation may include forward-looking information, which is subject to the cautionary statements included therein, and may include a discussion of non- GAAP pro forma financial measure items that, to the extent not so qualified during the presentation, are qualified by GAAP reconciliation information included in the presentation materials. About Cohen s. Cohen s is a manager of income-oriented equity portfolios specializing in U.S. and international real estate securities, large cap value... (PR Newswire)
Eurand Reports Recent Developments and Third Quarter and Year-to-Date 2008 Financial Results Nov 7, 2008
04) per pro forma share ($(0. 05) per pro forma share), for the same period in 2007 ... 07) Weighted average number of shares used to compute basic EPS 44,689,409 44,689,409 23,178,525 Weighted average number of shares used to compute diluted EPS 46,437,140 46,437,140 23,178,525 Pro forma fully diluted net loss per share $ 0. (Primezone Releases)
Qualcomm outlook misses as demand slows Nov 7, 2008
It saw pro forma earnings for the year that began on Sept. 29 at between $2 ... Qualcomm forecast first-quarter pro forma earnings per share, before items such as its investment arm, of 46 cents to 50 cents, on revenue of $2. (EETimes)
Macrovision Solutions Corporation Reports Third Quarter Financial Performance Nov 7, 2008
As management believes including Gemstars operating results only for the period since its acquisition on May 2, 2008, diminishes the comparative value of results from the prior year, management believes it is useful to measure the results on a non-GAAP Adjusted Pro Forma basis, assuming the Gemstar acquisition was consummated January 1, 2007. The Adjusted Pro Forma results also exclude Macrovisions Software and Games businesses that were sold April 1, 2008, discontinued Hawkeye product... (Yahoo! Wire -- Entertainment News)
National CineMedia, Inc. Reports Results for Third Quarter Fiscal 2008 Nov 7, 2008
Pro Forma Financial Information ... In order to facilitate additional comparative analysis between periods, included below is pro forma financial information for the nine months ended September 27, 2007 that reflects the IPO and the related transactions as if they had become effective on December 29, 2006 ... 1 million from total pro forma revenue of $243. (Yahoo! Wire -- Entertainment News)
MasTec Q3 2008 Earnings Call Transcript Nov 7, 2008
This pro forma number is reconciled to get in the press release, in that case, yesterday ... 1%, an increase of 33% over pro forma third quarter 2007 ... EBITDA was $36 million, an increase of 89% over pro forma third quarter 2007. (Seeking Alpha, NY)
Skyworks Solutions, Inc. FYQ4 2008 Earnings Call Transcript Nov 7, 2008
I would also like to remind everyone that the results and guidance we will discuss today are from our Pro Forma non-GAAP income statement consistent with the format we have used in the past. Please refer to our press release within the Investor Relations section of our company website for a complete reconciliation to GAAP.. (Seeking Alpha, NY)
MasTec Reports Dramatically Higher Earnings, Record Revenue and Increased 2008 Earnings Guidance Nov 6, 2008
35 earnings per diluted share, compared to pro forma income from continuing operations of $12 ... Third quarter 2007 pro forma income from continuing operations excludes a $39 ... 4% for 2007 reflects the pro forma impact of adding back the $39 million legacy litigation charge that the Company has been using in all of the comparisons. (PR Newswire)
Susser Holdings Reports Strong Third Quarter Financial Results Nov 6, 2008
7% pro forma - Retail and wholesale fuel margins per gallon up - Adjusted EBITDA(1) up 89. 8% on a reported basis, 1% pro forma CORPUS CHRISTI, Texas, Nov. 5 /PRNewswire-FirstCall/ -- Susser Holdings Corporation (Nasdaq: ) today reported that third quarter 2008 merchandise sales -- including sales from the Company's Stripes stores and the Town ry stores it acquired in November 2007 -- increased by 74 ... 7 percent higher on a pro forma basis, assuming the Town ry acquisition had taken place on... (PR Newswire)
Anadigics cuts 15 percent of workforce Nov 6, 2008
Pro forma loss per share, excluding non-cash stock compensation expense, is expected to be in the range of approximately $0. 12 to $0. (EETimes)
Liberty Global Reports Third Quarter 2008 Results Nov 6, 2008
The rebased growth percentages have been presented as a basis for assessing 2008 growth rates on a comparable basis, and are not presented as a measure of our pro forma financial performance for 2007. Therefore, we believe our rebased data is not a non-GAAP measure as contemplated by Regulation G or Item 10 of Regulation S-K.. (Yahoo! Wire -- Entertainment News)
Activision Blizzard Announces September Quarter Results Nov 6, 2008
However, the data is not presented in accordance with GAAP and is not presented in accordance with Article 11 of Regulation S-X relating to pro forma financial statements. The non-GAAP information presented should be considered in addition to, not as a substitute for or superior to, financial measures determined in accordance with GAAP.. (Yahoo! Wire -- Entertainment News)
Clark Holdings Inc. Announces Third Quarter 2008 Results Nov 5, 2008
Summarized non-GAAP (pro forma) financial results for the quarter and nine month periods ended September 27, 2008 and September 30, 2007 are as follows (dollars in thousands): (unaudited) Quarter Quarter Ended Ended Sept. 27, Sept. 30, % 2008 2007 Change Gross revenues Domestic $ 18,246 15,917 14 ... 04 Pro forma adjusted Earnings per share (fully diluted) 0 ... 07 Pro forma adjusted Earnings per share (fully diluted) 0. (PR Newswire)
Graphic Packaging Holding Company Reports Third Quarter 2008 Results Nov 5, 2008
Nov. 4 /PRNewswire-FirstCall/ -- Third Quarter Highlights - Pro Forma Net Sales increased 3 ... "Higher pricing, continuous improvement cost reductions and synergy achievement offset some of the higher costs. I expect the decline in commodity prices to begin to benefit us in the fourth quarter." "Despite the slowing global economy, our pro forma sales increased more than 3.3 percent as volumes remained strong. We shipped approximately 30,000 more tons of paperboard packaging and multi-wall bags... (PR Newswire)
Great Wolf Resorts Reports Third Quarter 2008 Results Nov 5, 2008
22) Weighted average shares outstanding: Basic 30,900 30,850 Diluted 30,900 30,850 Great Wolf Resorts, Inc. Pro forma Net Debt to Adjusted EBITDA (dollars in thousands) Pro forma net debt as of September 30, 2008: Total secured debt $396,731 Total junior subordinated debentures 80,545 Total unrestricted cash and cash equivalents (25,884) Total construction in progress (110,895) ---------- $340,497 ========== Pro forma trailing twelve-month Adjusted EBITDA: Historical Adjusted EBITDA by quarter... (PR Newswire)
Kingsway Reports Net Loss of $17.4 million in the Third Quarter Nov 5, 2008
32 per share diluted, which compares with operating earnings in Q3 2007, on a pro forma basis excluding York Fire, of $16. 0 million or $0. (Canada Newswire)
Visa shares get boost from rival Nov 5, 2008
Though San Francisco-based Visa (NYSE: V) reported a fourth-quarter loss of $356 million last week, it nevertheless earned a profit of $804 million for the year ended September, and improved its results significantly from pro forma results given for comparison with the previous year (before it went public). But (NYSE: MA) reported a bigger jump than expected in its own sales on Monday, and a profit of $322 million for the third quarter (not counting a litigation charge). (San Francisco Business Times, CA)
Peak Energy Services Trust Reports Its Financial Results for the Three and Nine Months Ended September 30, 2008 Nov 5, 2008
Management estimates that if the merger had occurred on December 31, 2007 the pro forma combined financial results after adjusting for merger related costs would have generated revenue of $134 ... Management estimates that if the merger had occurred on December 31, 2007, the pro forma combined financial results, after adjusting for merger related items, would have generated revenue of $134 ... Management estimates that if the merger had occurred on December 31, 2007, the pro forma combined... (CCNMatthews Press Releases)
Saga Communications, Inc. Reports 3rd Quarter 2008 Results Nov 5, 2008
The attached Selected Supplemental Financial Data table discloses "as reported," "same station" and "pro forma" information by segment ... The "pro forma" amounts assume the 2008 and 2007 acquisitions and dispositions occurred as of January 1, 2007 ... 39 Weighted average common shares 18,940 20,112 19,593 20,082 Weighted average common shares and common shares equivalents 18,952 20,126 19,607 20,111 Free Cash Flow Net income $3,097 $3,321 $7,467 $7,871 Plus: Depreciation and amortization:... (Yahoo! Wire -- Entertainment News)
Gameloft: Third-Quarter Sales of EUR26.2 Million and 13% Pro Forma Growth Nov 4, 2008
2 Million and 13% Pro Forma Growth: Financial News - Yahoo ... 2 Million and 13% Pro Forma GrowthMonday November 3, 1:14 pm ET. (Yahoo! Wire -- Entertainment News)
SocGen Net Slumps, but Can Get Through Crisis Nov 3, 2008
411 billion euros, while its pro forma Tier 1 ratio -- factoring in French state support for the banking sector -- stood at 9 percent. "This sound solvency, coupled with the quality of its various customer franchises, will help SocGen to successfully pursue its strategy as well as weather a potential deterioration in the economic environment in 2009," it said in a statement. (ABC News -- Wire)
Pingo To Provide Cheap International Calling Cards to Ghana Nov 3, 2008
On a pro forma basis, the combined company carried approximately 24 billion minutes of international voice traffic in 2007. The Company can be reached at its worldwide headquarters in Burlington, Mass. (Ghana Web, Ghana)
CapitalSource to rid REIT status in 2009 Nov 1, 2008
Accounting for the sale on a pro forma basis to exclude the residential mortgage-related investments as of Sept. 30, CapitalSource would have a debt-to-equity ratio, net of available cash, of approximately 3. 4-to-1, he said. (Washington Business Journal, DC)
Four Attorneys to Guide Thelen's Demise Oct 31, 2008
"Most of the wind-down in law firms are largely pro forma issues," Nason added. "Generally, there's not a ton of line items that need to be debated.". (Law.com)
CapitalSource Announces Decision to Revoke REIT Election in 2009 Oct 31, 2008
"Accounting for the sale on a pro forma basis to exclude the RMIP as of September 30, 2008," Delaney added, "CapitalSource would have a debt to equity ratio, net of available cash, of approximately 3.4 to 1." Noting further that approximately one-half of its commercial lending, cash and short term investments at September 30, 2008 were held in CapitalSource Bank, Delaney said, "Entering 2009, CapitalSource will look similar to the way it did prior to becoming a REIT in 2006 with three important... (PR Newswire)
Poulsen trial focus shifts Oct 31, 2008
Poulsen also told the jury that his firm s governing documents allowed for the purchase of future, or pro forma, receivables. Wise showed Poulsen an Oct. 22, 2002, letter from Purcell & Scott that appeared to say the opposite. (Columbus Business First, OH)
Standard Pacific Corp. Reports 2008 Third Quarter Results Oct 30, 2008
7 million decrease in the Company's absolute level of selling, general and administrative ("SGpenses. The Company's homebuilding operations for the 2008 third quarter included the following pretax charges from continuing operations: a $267.2 million inventory impairment charge (including $58.0 million for land sold or held for sale); a $92.2 million charge related to the Company's share of joint venture impairments; and an $8.9 million charge related to the write-off of land option deposits and... (PR Newswire)
MillerCoors signs lease for Chicago HQ Oct 30, 2008
With net revenue of $7 billion for the fiscal year ending March 31, based on a pro forma estimate, MillerCoors would be the Chicago areas 23rd-largest company, according to Crains list of the Chicago areas largest public companies published May 19, which was based on the firms 2007 revenues. MillerCoors will take the top eight floors of the 16-story structure, including a rooftop beer garden, where sources say the company plans to hold corporate events and employee get-togethers. (Crain's Chicago Business)
SCBT raises $26.8M in stock offering Oct 30, 2008
The issuance represents 9 percent of the company s pro forma common shares outstanding as of Sept. 30. We are pleased with the response to our capital raise and appreciate the confidence our customers, employees and shareholders have shown in our company, says Robert Hill Jr., chief executive. (Charlotte Business Journal, NC)
National Centurys Poulsen takes the stand Oct 29, 2008
Charges of overfunding are misleading, Poulsen said, because National Century checked with attorneys and auditors to make sure it could purchase what he called pro forma receivables from nursing homes or hospitals. In the case of nursing homes, Poulsen said pro forma receivables were expected revenue that the facility had not yet billed, but would about a month later ... Poulsen said auditors were well aware of how the company operated, and that sometimes because of funding pro forma... (Columbus Business First, OH)
Mandalay Media Completes $22.8 Million Acquisition of AMV Holding Limited and Secures $4.5 Million Equity Financing Oct 28, 2008
On a pro forma basis for the six months ending March 31, 2009 (i ... The forward looking pro forma estimates are based on April 1, 2008 to September 30, 2008 historical operating results for both AMV and Twistbox and do not include anticipated operating efficiencies or synergies. (Yahoo! Wire -- Entertainment News)
City National Corp. Selected to Participate in U.S. Treasury's Capital Purchase Program Oct 27, 2008
On a pro forma basis, this investment will increase City National's strong Tier 1 capital ratio of 9. 1 percent to an even stronger 12 percent. (Primezone Releases)
NewPage Reschedules Third Quarter 2008 Financial Results and Webcast Conference Call for November 12, 2008 Oct 25, 2008
7 billion in pro forma net sales for the year ended December 31, 2007. The company's product portfolio is the broadest in North America and includes coated freesheet, coated groundwood, supercalendered, newsprint and specialty papers. (PR Newswire)
Colorado to Deploy COPLINK(R) in a Statewide Law Enforcement and Public Safety Information Sharing Initiative Oct 24, 2008
A pro forma cost model was created and agreed to by the consortium. Because it was structured after the long standing tier-based pricing used by KCC, the CISC was able to secure a single license fee for the software to cover use by the sworn law enforcement population of the entire state. (PR Newswire)
Sales sluggish as Avnet's profit drops 12% Oct 24, 2008
Pro forma, or organic, growth was flat at less than 1 percent. The results fell short of analysts estimates of 70 cents per-share profit on revenue of $4. (AZCentral -- Business)
'Chandrayaan a wake-up call for US' Oct 24, 2008
The White House, too, pro forma hailed Indias moon mission as encouraging and exciting. But away from presidential politics and polemics, the US scientific and business community greeted the event with gusto, seeing it as an opportunity for collaboration for a greater good. (India Times, India)
AMB Property Corporation(R) Awarded Gold LEED(TM) Certification for Savannah Development Oct 23, 2008
You can identify forward-looking statements by the use of forward-looking terminology such as "believes," "expects," "may," "will," "should," "seeks," "approximately," "intends," "plans," "pro forma," "estimates" or "anticipates" or the negative of these words and phrases or similar words or phrases. You can also identify forward-looking statements by discussions of strategy, plans or intentions. (PR Newswire)
EnCana generates third quarter cash flow of US$2.8 billion or $3.74 per share - up 28 percent Oct 23, 2008
74 per share - up 28 percent. EnCana's prudent financial approach and low-risk business model allow us to capture the upside during times of higher commodity prices as well as sustain us through a volatile natural gas and oil pricing environment," said Randy Eresman, EnCana's President Executive Officer. "In this period of economic uncertainty, our resource play strategy maintains a steadfast focus on low-cost production. (Canada Newswire)
Judge Set a Torrid Pace for Trial Oct 23, 2008
He also issued a pro forma jury instruction that jurors should not be improperly influenced by anyone s race, ethnic origin or gender. Shortly before noon, the judge told the jury, The case is yours, leaving the lawyers, the press, the court and Stevens with nothing to do but wait. (Roll Call)
Families hoping to join Palo Alto district hit setback Oct 22, 2008
The Palo Alto Board of Education's recommendation to reject the petition, along with similar resolutions from the other school districts involved, were pro forma, but discouraging none the less. Rahej and the other families involved in the petition live in a housing complex that awkwardly straddles the current boundary between the Palo Alto district and the Mountain View-Whisman School District and the Mountain View-Los Altos Unified High School District. (Palo Alto Online, CA)
Philip Morris profit beats estimates Oct 22, 2008
The 2007 figures are pro forma, as the company was still part of Altria at that time. Excluding one-time items, earnings were 93 cents a share, the company said. (Globe and Mail -- Business)
Justice Department sues to prevent National Beef Packing sale Oct 21, 2008
For the year that ended Sept. 30, JBS had pro forma revenue of $11. 9 billion and processed 9 million head of cattle. (Wichita Business Journal, KS)
Cohen & Steers, Inc. to Report Third Quarter 2008 Results on October 22, 2008; Announces September 30, 2008 Assets Under Management Oct 16, 2008
The conference call and earnings release may include forward-looking information, which is subject to the cautionary statements included therein and in the earnings release, and may include a discussion of non-GAAP pro forma financial measure items that, to the extent not so qualified therein, is qualified by GAAP reconciliation information included in the earnings release. Assets Under Management The company also announced that preliminary September 30, 2008 assets under management were $24. (PR Newswire)
Astoria Financial Corporation Announces Third Quarter Operating Earnings Per Share of $0.46 Oct 16, 2008
" Astoria Financial Corporation, with assets of $22.2 billion, is the holding company for Astoria Federal Savings and Loan Association. Established in 1888, Astoria Federal, with deposits in New York totaling $13.1 billion, is the largest thrift depository headquartered in New York and embraces its philosophy of "Putting people first" by providing the customers and local communities it serves with quality financial products and services through 85 convenient banking office locations and multiple... (PR Newswire)
Coos Bay mayor's race a two-way contest Oct 16, 2008
Obviously we would have to do a pro forma analysis to assess the cost/benefit ratio of such an action. How should the city pay for the 42 million in repairs to the wastewater treatment and sewer system. (Coos Bay-North Bend The World, OR)
Novellus Systems, Inc. Q3 2008 Earnings Call Transcript Oct 16, 2008
Specific forward-looking statements include but are not limited to our plan to continue lowering our cash breakeven level until business conditions improve, the forecasted bookings and shipment volume, revenues, gross margin, operating expense, tax rate and earnings per share, both on a U.S. GAAP and pro forma basis, our expectation that we will continue to maintain our market position to maximize our position within the semiconductor industry, the effect of the current economic climate on our... (Seeking Alpha, NY)
Wells Fargo plans to buy Wachovia; Citi ends talks Oct 10, 2008
"We stood by while others walked away. Now, our shareholders have been unjustly and illegally deprived of the opportunity the transaction created.'' The battle for Wachovia moved to both state and federal court over the weekend. Citigroup charged that Wells Fargo violated an exclusivity agreement it had with Wachovia. On Monday, the parties agreed to a legal standstill, which was extended on Wednesday and set to expire Friday morning. Federal Reserve officials had been working this week with... (The Star Online, Malaysia -- Business)
US-Taiwan-China relationship back in balance Oct 8, 2008
But such pronouncements are almost a pro forma reaction, made whenever the U.S. sells weapons to Taiwan. Taiwan expert Bruce Jacobs of Australia's Monash University said that if China is upset over the arms deal, it only has itself to blame, because of its deployment of more than 1,000 missiles aimed at Taiwan and its recent purchases of sophisticated weapons from Russia and other foreign suppliers. (International Herald Tribune)
Wells Fargo, Citigroup delay battle Oct 8, 2008
37-trillion in estimated pro forma assets as of the end of this year. In the event of a deal, Wells Fargo said it expects to take a $74-billion hit on Wachovia's $498-billion loan portfolio. (Globe and Mail -- Business)
$US4.4b fees for BHP's Rio bid Oct 7, 2008
A pro forma income statement indicated Rio would have earned 42 per cent of the combined company's profits in the financial year that ended June 30 - just short of the 44 per cent of the combined company on offer - but the Rio profit figure included extraordinary items such as $US1. 5 billion in after-tax profits from asset sales. (Sydney Morning Herald -- Business)
* Taiwan supporters laud weapons sale Oct 5, 2008
While the House approved a US$700 billion financial bailout on Friday and left town to campaign for re-election, the Senate decided to stay on in so-called pro forma session and hold a lame-duck session beginning on Nov. 17 to clear unfinished business. That would allow the administration to forward additional notifications on items that were absent from its notifications list, if it wishes. (Taipei Times, Taiwan)
Westaim enters into reorganization agreement valuing Westaim at $0.60 per share Oct 4, 2008
The businesses to be acquired had combined revenue of approximately $164 million, pro forma net income of approximately $10 million, pro forma adjusted net income of approximately $21 million and pro forma adjusted EBITDA of approximately $30 million for the year ended December 31, 2007. Following the reorganization and a $15 million private placement of Westaim common shares, the completion of which is a condition of closing the reorganization, Westaim will have pro forma working capital of... (PR Newswire)
Wells Fargo buys Wachovia for $15.1-billion Oct 4, 2008
37-trillion in estimated pro forma assets as of the end of this year. As of June 30, Bank of America Corp. had $2. (Globe and Mail)
Senate Plans Pro Forma Sessions Oct 3, 2008
As the House grapples with its own way of dealing with the economic rescue plan, the Senate on Thursday turned the lights off with the hope of proceeding in pro forma session until after the November elections ... closed down the Senate until Monday afternoon, when the Senate will reconvene for the first of many pro forma sessions ... Levin said the Senate will hold only pro forma sessions unless the House fails to pass the financial bailout plan or amends the legislation, which would bounce it... (Roll Call)
Reeling from Fannie and Freddie, Gateway to be bought by rival half its size Sep 25, 2008
Bundy estimates that Gateway shareholders will have about 39 percent of the pro forma company while contributing between 71 percent and 72 percent of loans, deposits and assets. On Wednesday, Gateway said it still needs to raise some $30 million in capital. (Raleigh Triangle Business Journal, NC)
