Saturday, January 23, 2010

New CFO Announced at Coinstar

Coinstar announced the appointment of J. Scott Di Valerio as chief financial officer effective March 2, 2010. Di Valerio joined the company on January 19 and will work with Paul Davis, Coinstar chief executive officer, prior to taking over as CFO.

"Scott brings with him a strong finance, management and business background with high-growth, world-class organizations, as well as a demonstrated ability to communicate effectively with the investment community," said Paul Davis. "The depth and breadth of his experience further enhances our management team, and we look forward to his contributions as we execute our strategic plans for growth and success as a leader in automated retail."

Di Valerio, 47, has over 25 years finance, operations and management experience, most recently serving as President of the Americas for the Lenovo Group Limited, a leading computer manufacturer. Previously, he held senior positions at Microsoft Corp., where he served as the company's corporate vice president of Finance and Administration and chief accounting officer, and as corporate vice president of the Original Equipment Manufacturer (OEM) division.

Tuesday, January 19, 2010

Parking Garage Lighting a Source of Energy Savings

Redbird LED, an Atlanta based designer, manufacturer and distributor of LED Tubes launched a website for parking garage owners and managers, www.parkinggarageleds.com. The website provides information on the many benefits of LED Tube lights in a parking garage application. LED Tube lights last much longer than conventional lighting- between 5 and ten years. This dramatically reduces maintenance costs because the lights do not have to be changed as frequently.

Parking garage owners can achieve even bigger savings from the reduced energy costs from operating LED Tube lights versus conventional lighting. Many retailers, hotels, universities and corporations are saving between 30 and 60 % on their energy bills with the conversion to LED Tube lights.

For more detailed information please visit www.parkinggarageleds.com

Wednesday, January 13, 2010

CIT Searching for New CFO as well as CEO

CIT has emerged from the bankruptcy courts and is looking for a new CEO to lead the company to their next stage. The Wall Street Journal also reported today they are looking for a new CFO. One person mentioned that CIT may be looking at is Nelson Chai, Former CFO at Merrill Lynch. His selection may be helped if John Thain, Former Merrill Lynch CEO is hired as CEO.

CFO Shifts To Head Division at Bank of America

Bank of America Corp. promoted Chief Financial Officer Joe Price to head consumer banking, as new Chief Executive Officer Brian Moynihan announced his management team . Price will be president of the consumer, small business and card banking unit, according to a company statement today. Price, 48, has held positions in finance, risk management and corporate strategy. He was president of consumer finance from 1999 to 2002.

The CFO position will be handled by Neil Cotty on an interim basis after Feb 1. The Bank has started an external search for a new CFO

Saturday, January 9, 2010

Weyerhaeuser Votes To Become A REIT

As has been reported for weeks, Weyerhaeuser Co. in December voted to become the a REIT. Dan Fulton, president and chief executive officer said, "“Our company will be enhanced by the REIT structure,” This conversion will position us to be more competitive in our timberlands business. In addition, we are able to convert with our existing business mix of Timberlands, Wood Products, Cellulose Fibers and Real Estate.”

No date has been set for the conversion to a REIT but it should be sometime in 2010 and will be based on economic conditions, any changes in tax policy and timing of the distribution of earnings and profits required under tax laws.

By the end of the year of conversion, Weyerhaeuser must issue a special, taxable dividend to stockholders of its undistributed earnings and profits. As of the beginning of 2010, Weyerhaeuser reports expected earnings and profits to total just under $6 billion.They said the dividend payment will be paid with company stock.

Weyerhaeuser Real Estate Division has three divisions including Weyerhaeuser Real Estate Company. WRECO is one of the largest homebuilders in the country.The division is an umbrella organization for six branded homebuilders. Another division is WREDCO- Weyerhaeuser Real Estate Development Company which sells timberland property in select markets across the US. They also have a division that sells non-timberland industrial surplus property.

For more information on their real estate divisions please visit www.weyerhaeuser.com/business/realestate

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New CFO Named at Armstrong Worldwide

Armstrong World Industries, Inc. announced that Thomas B. Mangas was named Senior Vice President and Chief Financial Officer effective February 1, 2010.Armstrong Armstrong World Industries, Inc. is a global leader in the design and manufacture of floors, ceilings and cabinets. In 2008, Armstrong's consolidated net sales totaled approximately $3.4 billion.

"We are excited to have Tom working with us," said Chairman and CEO, Michael D.Lockhart. "We are pleased to have an executive of Tom's caliber from a world-class company like Procter & Gamble join Armstrong at this exciting time in Armstrong's history. His background and expertise will be important aids to realizing our significant sales growth and margin expansion objectives over the next several years. We all owe Bill Rodruan hearty thanks for his invaluable work as interim CFO." Mangas most recently served as Vice President and Chief Financial Officer of the $28 billion Beauty and Grooming business of Procter & Gamble (P&G). He had an impressive progression of finance roles at P&G, where he has spent the entirety of his career.

Based in Lancaster, Pa., Armstrong operates 37 plants in nine countries and has approximately 11,000 employees worldwide.

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New CFO at Silverleaf Resorts Inc.

Silverleaf Resorts, Inc. announced that its has elected Harry J. White, Jr. as Silverleaf's Chief Financial Officer. Mr. White joined Silverleaf in 1998, previously served as the CFO of the Company. In February 2008 he left his role as CFO t focus on other company priorities.He most recently served as Vice President -- Treasurer. Mr. White succeeds Robert M.
Sinnott, who resigned as the Company's Chief Financial Officer, effective January 8, 2010.

Robert E. Mead, Chairman and Chief Executive Officer of Silverleaf Resorts, Inc., commented, "We are pleased to announce Harry White's appointment as Chief Financial Officer. Because of his long tenure with the Company in various senior accounting and financial positions, we believe he will have a seamless transition in his return as our CFO. In addition, I would like to thank Bob Sinnott for his service to Silverleaf and wish him the best in his future endeavors."

Silverleaf Resorts Based in Dallas, Texas, Silverleaf Resorts, Inc. currently owns and operates timeshare resorts with a wide array of country club-like amenities, such as golf, clubhouses, swimming, tennis, boating, and many organized activities for children and adults.