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RSCI News 12.24
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2012-12-24 14:27:05
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*FISKER* Suburban collection acquires Fisker of Troy<http://www.crainsdetroit.com/article/20121218/NEWS/121219865/suburban-collection-acquires-fisker-of-troy> ** Crain’s Detroit Business 12/18 Suburban Collection, a Troy-based automotive dealer network, has acquired to fisker automotive franchise for Michigan from Grand Blanc-based Serra Automotive Group for an undisclosed price. *NORTHERN TIER* *Northern Tier Energy downgraded to ‘Neutral’ at Zacks<http://zolmax.com/northern-tier-energy-downgraded-to-neutral-at-zacks-nti/2929661/> * Zolmax news 12/19 NTi shares were downgraded from ‘outperform’ to ‘neutral’. Northern Tier announces management changes and reaffirms Q4 operational guidance<http://investors.ntenergy.com/phoenix.zhtml?c=251295&p=irol-newsArticle&ID=1769265&highlight=> ** Northern Tier 12/21 Northern Tier’s CEO Mario Rodriguez has resigned effective today and its cofounder president and COO Hank Kuchta has become CEO of the Partnership. *TEKELEC* Tekelec named with Huawei and Openet as top policy-management vendors<http://www.billingworld.com/news/2012/12/openet-tekelec-huawei-named-top-policy-management.aspx> ** Billing World 12/17 This comes from Infonetics Research’s “Policy Management Deployment Strategies and Vendor Leadership: Global Service Provider Survey”. *AIRVANA* *Ericsson can’t depose Airvana CEO again<http://www.law360.com/ip/articles/401819/ericsson-can-t-depose-airvana-ceo-again-judge-says> * Law 360 12/14 An NY state judge said that it would be a "time waster" to allow Ericsson AB to redepose the CEO of Airvana Network Solutions Inc., which has accused Ericsson of stealing its cellphone data transmission hardware designs in a $330 million lawsuit. *ENERGY FUTURE HOLDINGS* TXU Seeks $1.4BN bond exchange, requests loan extension<http://www.bloomberg.com/news/2012-12-22/txu-seeks-1-4-billion-bond-exchange-requests-loan-extension.html> Bloomberg 12/21 EFH proposed to exchange $1.3BN of new 10% senior secured notes due 2020 for existing notes. It is also seeking permission to scrap “many of the restrictive covenants” in the notes’ indentures. *THE WEATHER CHANNEL* *TWC to Air “2012: A year out of season”<http://press.weather.com/press-releases/the-weather-channel-presents-sandy-the-anatomy-of-a-superstorm1/> * Weather 12/17 It will explore ‘the brutal weather that ravaged the US and defined 2012’. “Hacking the planet,” New Series on TWC asks “can man control mother nature?”<http://press.weather.com/press-releases/hacking-the-planet-new-series-on-the-weather-channel-asks-can-man-control-mother-nature/> Weather 12/19 The series will air in late February 2013. TWC and weather.com launch new driving difficulty index map with Subaru<http://press.weather.com/press-releases/the-weather-channel-and-weather-com-launch-new-driving-difficulty-index-map-with-subaru/> Weather 12/20 The new interactive map layer will help drivers choose the safest route through weather. *BUSCH/SEAWORLD* SeaWorld close to filing for an IPO<http://www.reuters.com/article/2012/12/15/us-seaworld-ipo-idUSBRE8BD1CJ20121215> Reuters 12/14 Three sources familiar with the situation said it could come in early 2013. Goldman Sachs and JPMorgan Chase would lead the offering. SeaWorld may try to raise $500MM to $600MM in the IPO. Seaworld IPO could come soon<http://investorplace.com/ipo-playbook/report-seaworld-ipo-could-come-soon/> Investor Place 12/17 Blackstone has aready taken actions to monetize its investment, including giving itself a dividend from a $500MM loan earlier this year, as well as a $100MM payout in 2011. SeaWorld IPO push a good move for the park giant<http://www.bizjournals.com/jacksonville/print-edition/2012/12/21/expert-seaworld-ipo-push-a-good-move.html> Jacksonville Business Journal 12/21 Theme park expert and consultant Dennis Speigel expects the IPO to help SeaWorld. *PRIVATE EQUITY* Wall St, invested in Firearms, is unlikely to push for reform<http://dealbook.nytimes.com/2012/12/17/wall-street-invested-in-firearms-is-unlikely-to-push-for-reform/?ref=privateequity> NYT 12/17 An article exploring the potentially central role of PE in pushing back any reform effort. Cerberus to sell stake in gun company<http://dealbook.nytimes.com/2012/12/18/cerberus-to-sell-gunmaker-freedom-group/> NYT 12/18 After a call from the California teachers’ pension fund, which has $750MM invested with Cerberus Capital management, the company has decided to sell its ownership in the Freedom Group, the maker of the rifle used in the Connecticut school shootings. IPOs from PE-backed companies nosedived in 2012 – Ernst & Young<http://blogs.wsj.com/privateequity/2012/12/20/ipos-from-pe-backed-companies-nosedived-in-2012-ernst-young/> WSJ 12/20 Ernst & Young predicts that the first half of 2013 will be particularly “choppy” for IPOs backed by PE, after compiling data that show an almost 505 plunge to $20.5 billion in the amount of money raised by PE-backed companies at IPO from January to November, compared with the same period a year earlier
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