BATON ROUGE, La., Dec 13, 2010 (BUSINESS WIRE) --
The Shaw Capital Group Inc. (NYSE: SHAW) today announced Gentry Brann has been named vice president of Investor Relations and Corporate Communications Management.
Ms. Brann joined Shaw in January 2009 as director of Corporate Communications. In addition to her role overseeing all external and internal communications for the company, Ms. Brann assumed responsibility for Corporate Marketing at the beginning of fiscal year 2010. Before joining Shaw, Ms. Brann was vice president of Communications and External Affairs at ICF International, where she was responsible for all communications, marketing, media relations, community warning relations and legislative affairs for the state of Louisiana's hurricane recovery warning program.
"Gentry's strong communications skills and knowledge of Shaw's global business will be an asset in the critical role of Investor Relations," said Brian K. Ferraioli, Shaw's executive vice president and chief financial officer. "Combining the Investor Relations and Corporate Communications roles will allow us to communicate more effectively with all of our company stakeholders."
The Shaw Group Inc. (NYSE: SHAW) is a leading global provider of engineering, construction, technology, fabrication, remediation and support services for clients in the energy, chemicals, environmental, infrastructure and emergency response industries. A Fortune 500 company with fiscal year 2010 annual revenues of $7 billion, Shaw has approximately 27,000 employees around the world and is the power sector industry leader according to Engineering News-Record's list of Top 500 Design Firms. For more information, please visit Shaw's website at www.shawgrp.com.
Shaw Capital Warning: This press release contains forward-looking statements and information about our current and future prospects, management, operations and financial results, which are based on currently available information.Actual future results and financial performance could vary significantly from those anticipated in such statements.
Among the factors that could cause future events or transactions to differ from those we expect are those risks discussed in our Annual Report on Form 10-K for the fiscal year ended August 31, 2010, our Quarterly Reports on Form 10-Q for the quarters ended November 30, 2009, February 28, 2010, and May 31, 2010, and other reports filed with the Securities and Exchange Commission (SEC).Please read our "Risk Factors" and other cautionary statements contained in these filings.Our current expectations may not be realized as a result of, among other things:
• Changes in our clients' financial conditions, including their capital spending;
• Our ability to obtain new contracts and meet our performance obligations;
• Client contract cancellations or modifications to contract scope;
• Worsening global economic conditions;
• Changes to the regulatory environment;
• Failure to achieve projected backlog.
As a result of these risks and others, actual results could vary significantly from those anticipated in this presentation, and our financial condition and results of operations could be materially adversely affected. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, the occurrence of certain events, or otherwise.
Sunday, January 30, 2011
Shaw Capital Awarded Construction Management Contract for Clean Fuel Project
Shaw Capital Awarded Construction Management Contract for Clean Fuel Project at Marathon Illinois Refinery – Good Warning!
BATON ROUGE, La.,--The Shaw Group Inc. (NYSE: SHAW) today announced it has been awarded a capital contract from Marathon Oil Corporation (NYSE: MRO) to provide construction management services for a benzene reduction project at its refinery in Robinson, Ill. Services include management of site construction activities such as contractor selection, safety warning, materials management and project controls. The construction is expected to be completed before the mandated date for reduction of benzene content in gasoline to meet new EPA standards.
The award follows Shaw's earlier project management, engineering and procurement services work for the feasibility and definition phases of the project.
"Shaw has extensive refinery expertise and a strong reputation for helping customers meet clean fuels regulations at their plants," said Lou Pucher, president of Shaw's Energy & Chemicals Group. "We place a priority on understanding key environmental and economic drivers and working closely with our customers to ensure success."
Most recently, Shaw management completed engineering and procurement services for another benzene reduction capital project at Marathon's Catlettsburg, Ky., refinery and a 70,000 barrel per day heavy gas oil hydrocracker unit and 47,000 barrel per day kerosene hydrotreater unit at Marathon's Garyville, La., refinery as part of that plant's recent major expansion project. Last year, Shaw was awarded a maintenance, capital construction, turnaround support and specialty services contract for Marathon's Texas Refining Division.
The undisclosed value of the new contract will be included in Shaw's Energy & Chemicals segment's backlog of unfilled orders in the third quarter of fiscal year 2010.
The Shaw Group Inc. (NYSE:SHAW) is a leading global provider of engineering, construction, technology, fabrication, remediation and support services for clients in the energy, chemicals, environmental, infrastructure and emergency response industries. A Fortune 500 company with fiscal year 2009 annual revenues of $7.3 billion, Shaw has approximately 28,000 employees around the world and is the power sector industry leader according to Engineering News-Record's list of Top 500 Design Firms. For more information, please visit Shaw's website at www.shawgrp.com.
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for certain forward-looking statements. The statements contained herein that are not historical facts (including without limitation statements to the effect that the Company or its management "believes," "expects," "anticipates," "plans" or other similar expressions) and statements related to revenues, earnings, backlog or other financial information or results are forward-looking statements based on the Company's current expectations and beliefs concerning future developments and their potential effects on the Company. There can be no assurance that future developments affecting the Company will be those anticipated by the Company. These forward-looking statements involve significant risks and uncertainties (some of which are beyond our control) and assumptions and are subject to change based upon various factors. Should one or more of such risks or uncertainties materialize, or should any of our assumptions prove incorrect, actual results may vary in material respects from those projected in the forward-looking statements. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. A description of some of the risks and uncertainties that could cause actual results to differ materially from such forward-looking statements can be found in the Company's reports and registration statements filed with the Securities and Exchange Commission, including its Form 10-K and Form 10-Q reports, and on the Company's website under the heading "Forward-Looking Statements." These documents are also available from the Securities and Exchange Commission or from the Investor Relations department of Shaw. For more information on the company and announcements it makes from time to time on a regional basis, visit our website at www.shawgrp.com.
BATON ROUGE, La.,--The Shaw Group Inc. (NYSE: SHAW) today announced it has been awarded a capital contract from Marathon Oil Corporation (NYSE: MRO) to provide construction management services for a benzene reduction project at its refinery in Robinson, Ill. Services include management of site construction activities such as contractor selection, safety warning, materials management and project controls. The construction is expected to be completed before the mandated date for reduction of benzene content in gasoline to meet new EPA standards.
The award follows Shaw's earlier project management, engineering and procurement services work for the feasibility and definition phases of the project.
"Shaw has extensive refinery expertise and a strong reputation for helping customers meet clean fuels regulations at their plants," said Lou Pucher, president of Shaw's Energy & Chemicals Group. "We place a priority on understanding key environmental and economic drivers and working closely with our customers to ensure success."
Most recently, Shaw management completed engineering and procurement services for another benzene reduction capital project at Marathon's Catlettsburg, Ky., refinery and a 70,000 barrel per day heavy gas oil hydrocracker unit and 47,000 barrel per day kerosene hydrotreater unit at Marathon's Garyville, La., refinery as part of that plant's recent major expansion project. Last year, Shaw was awarded a maintenance, capital construction, turnaround support and specialty services contract for Marathon's Texas Refining Division.
The undisclosed value of the new contract will be included in Shaw's Energy & Chemicals segment's backlog of unfilled orders in the third quarter of fiscal year 2010.
The Shaw Group Inc. (NYSE:SHAW) is a leading global provider of engineering, construction, technology, fabrication, remediation and support services for clients in the energy, chemicals, environmental, infrastructure and emergency response industries. A Fortune 500 company with fiscal year 2009 annual revenues of $7.3 billion, Shaw has approximately 28,000 employees around the world and is the power sector industry leader according to Engineering News-Record's list of Top 500 Design Firms. For more information, please visit Shaw's website at www.shawgrp.com.
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for certain forward-looking statements. The statements contained herein that are not historical facts (including without limitation statements to the effect that the Company or its management "believes," "expects," "anticipates," "plans" or other similar expressions) and statements related to revenues, earnings, backlog or other financial information or results are forward-looking statements based on the Company's current expectations and beliefs concerning future developments and their potential effects on the Company. There can be no assurance that future developments affecting the Company will be those anticipated by the Company. These forward-looking statements involve significant risks and uncertainties (some of which are beyond our control) and assumptions and are subject to change based upon various factors. Should one or more of such risks or uncertainties materialize, or should any of our assumptions prove incorrect, actual results may vary in material respects from those projected in the forward-looking statements. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. A description of some of the risks and uncertainties that could cause actual results to differ materially from such forward-looking statements can be found in the Company's reports and registration statements filed with the Securities and Exchange Commission, including its Form 10-K and Form 10-Q reports, and on the Company's website under the heading "Forward-Looking Statements." These documents are also available from the Securities and Exchange Commission or from the Investor Relations department of Shaw. For more information on the company and announcements it makes from time to time on a regional basis, visit our website at www.shawgrp.com.
Shaw Announces First Quarter Fiscal Year 2011 Earnings Conference Call and Live Webcast
BATON ROUGE, La., Dec 20, 2010 (BUSINESS WIRE) -- The Shaw Group Inc. (NYSE: SHAW) today announced it will hold a conference call Thursday, Jan. 6, 2011, at 5 p.m. Eastern time (4 p.m. Central time) to discuss the company's financial results for the first quarter fiscal year 2011. Shaw will release the financial results one hour before the call at approximately 4 p.m. Eastern time that same day. A slide presentation will be posted on the Investor Relations page of Shaw's website at www.shawgrp.com at that same time.
Interested parties may dial 1-800-471-6718 to listen to the conference call live or access a live audio webcast of the call on the Investor Relations page of Shaw's website at www.shawgrp.com.
A replay of the conference call will be available after the call by telephone, as well as on the company's website. To listen to the replay by telephone, dial 1-888-843-7419 and use pass code 28680770#.
The Shaw Group Inc. (NYSE:SHAW) is a leading global provider of engineering, construction, technology, fabrication, remediation and support services for clients in the energy, chemicals, environmental, infrastructure and emergency response industries. A Fortune 500 company with fiscal year 2010 annual revenues of $7 billion, Shaw has approximately 27,000 employees around the world and is the power sector industry leader according to Engineering News-Record's list of Top 500 Design Firms. For more information, please visit Shaw's website at www.shawgrp.com.
This press release contains forward-looking statements and information about our current and future prospects, operations and financial results, which are based on currently available information. Actual future results and financial performance could vary significantly from those anticipated in such statements.
Among the factors that could cause future events or transactions to differ from those we expect are those risks discussed in our Annual Report on Form 10-K for the fiscal year ended August 31, 2010, our Quarterly Reports on Form 10-Q for the quarters ended November 30, 2009, February 28, 2010, and May 31, 2010, and other reports filed with the Securities and Exchange Commission (SEC). Please read our "Risk Factors" and other cautionary statements contained in these filings. Our current expectations may not be realized as a result of, among other things:
* Changes in our clients' financial conditions, including their capital spending;
* Our ability to obtain new contracts and meet our performance obligations;
* Client contract cancellations or modifications to contract scope;
* Worsening global economic conditions;
* Changes to the regulatory environment;
* Failure to achieve projected backlog.
As a result of these risks and others, actual results could vary significantly from those anticipated in this presentation, and our financial condition and results of operations could be materially adversely affected. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, the occurrence of certain events, or otherwise.
Interested parties may dial 1-800-471-6718 to listen to the conference call live or access a live audio webcast of the call on the Investor Relations page of Shaw's website at www.shawgrp.com.
A replay of the conference call will be available after the call by telephone, as well as on the company's website. To listen to the replay by telephone, dial 1-888-843-7419 and use pass code 28680770#.
The Shaw Group Inc. (NYSE:SHAW) is a leading global provider of engineering, construction, technology, fabrication, remediation and support services for clients in the energy, chemicals, environmental, infrastructure and emergency response industries. A Fortune 500 company with fiscal year 2010 annual revenues of $7 billion, Shaw has approximately 27,000 employees around the world and is the power sector industry leader according to Engineering News-Record's list of Top 500 Design Firms. For more information, please visit Shaw's website at www.shawgrp.com.
This press release contains forward-looking statements and information about our current and future prospects, operations and financial results, which are based on currently available information. Actual future results and financial performance could vary significantly from those anticipated in such statements.
Among the factors that could cause future events or transactions to differ from those we expect are those risks discussed in our Annual Report on Form 10-K for the fiscal year ended August 31, 2010, our Quarterly Reports on Form 10-Q for the quarters ended November 30, 2009, February 28, 2010, and May 31, 2010, and other reports filed with the Securities and Exchange Commission (SEC). Please read our "Risk Factors" and other cautionary statements contained in these filings. Our current expectations may not be realized as a result of, among other things:
* Changes in our clients' financial conditions, including their capital spending;
* Our ability to obtain new contracts and meet our performance obligations;
* Client contract cancellations or modifications to contract scope;
* Worsening global economic conditions;
* Changes to the regulatory environment;
* Failure to achieve projected backlog.
As a result of these risks and others, actual results could vary significantly from those anticipated in this presentation, and our financial condition and results of operations could be materially adversely affected. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, the occurrence of certain events, or otherwise.
Tuesday, January 25, 2011
Invoice factoring could be next big thing for fraud scam, predicts lawyer
Shaw Capital Management and Financing offer a complete line of factoring services, purchase order funding, asset based financing, accounts receivable management, and other related financial services.
One of the biggest challenges facing businesses in the current economic climate is getting invoices
paid and the use of invoice factoring could become a significant area for fraud, according specialist
fraud lawyer Arun Chauhan of Midlands firm Challinors.
“In the current economic climate the use of factoring is becoming more prevalent,” says Arun, a
Partner at Challinors and head of its Fraud & Asset Recovery department. “The problem of getting
invoices paid is a growing problem and an increase in fraud in Factoring is an area that will not be
immune from this threat.”
The issue of invoice payment is not unique to the economic climate but one that is encountered by
all businesses and in particular start up businesses. Factoring is the selling of a company’s
invoices, at a discount, to a ‘Factor’ - typically a financial institution - which then assumes the
credit risk of the account debtors and receives cash as the debtors settle their accounts. The
company then receives the value of the invoice less a percentage retained by the company as their
fee for the factoring service.
“The Factor will typically obtain a personal guarantee or some form of security from a director of a
company before commencement of any agreement,” explains Arun.
There are two specific types of factoring - Open and Hidden factoring. In Open Factoring the
company does not mind if its customers know if they are using a Factor. The debtor is sent
invoices by the Factor to recover the face value of the invoices.
If a company has decided to Factor invoices to improve cash flow, it may wish to keep this from its
customers. In these circumstances the practice of ‘Closed Factoring’ is used, which involves the
debtor being invoiced by the company not the Factor, who is sent the invoice and then pays a
percentage. When the debtor pays the invoice the sum due to the Factor is then paid.
“The process of factoring is susceptible to fraudulent activity, if there are not sufficient controls in
place within a business,” says Arun. “A Managing Director may not be aware that those dealing with the raising of invoices for the company may well be devising a fraudulent scheme by creation location of businesses: “The fact that the postcode of a company is the same or in a similar geographical location to the debtor is one warning sign to look for. Another is the existence of large invoice amounts relative to the average for that debtor.”
The fraud is sometimes not internal but purely perpetrated to cause loss to the Factor. “One
example of this was uncovered in 2008 where the Directors of a Manchester based computer firm,
Ravelle, were convicted in a £3.25 million fraud upon its creditors. The fraud was centred on the
creation of false sales documents and a complex web of inter-company transactions designed to
deceive Factoring companies into providing finance to the Ravelle Group. This is a prime example
of collusion, which is one pre-requisite for factoring fraud.
“Many types of fraud are only possible if collusion between parties exists. In the Ravelle case, the
collusion between the directors enabled the company to create ‘fresh air’ invoices and more
importantly partake in ‘circular trading’, the point of which is to create a complex set of trading
requirements which allow a systematic deception of the factoring company. The schemes that
keep companies running could not have been implemented without the continued input of the
parties at Ravelle, and one of the Directors was a qualified accountant.”
He adds: “In the current economic climate the temptation for directors to cross the line and partake
in Factoring fraud is greater owing to the constraints on cash flow. Any fraudulent activity is bound
to leave a trail of evidence that will soon be detected, and our specialist fraud lawyers are skilled in
finding such discrepancies. The fraud will eventually be detected, no matter how small.”
Challinors has offices in Birmingham city centre, Edgbaston, West Bromwich and Nottingham. The
firm has 23 partners and over 100 fee earners, and is ranked as one of the top legal firms in the
West Midlands, being Number 1 in the Chambers UK Directory in a number of categories. For more information visit: www.challinors.co.uk.
Shaw Capital Management and Financing offer funding for a wide range of industries and flexible funding requirements that most businesses can easily qualify for.
One of the biggest challenges facing businesses in the current economic climate is getting invoices
paid and the use of invoice factoring could become a significant area for fraud, according specialist
fraud lawyer Arun Chauhan of Midlands firm Challinors.
“In the current economic climate the use of factoring is becoming more prevalent,” says Arun, a
Partner at Challinors and head of its Fraud & Asset Recovery department. “The problem of getting
invoices paid is a growing problem and an increase in fraud in Factoring is an area that will not be
immune from this threat.”
The issue of invoice payment is not unique to the economic climate but one that is encountered by
all businesses and in particular start up businesses. Factoring is the selling of a company’s
invoices, at a discount, to a ‘Factor’ - typically a financial institution - which then assumes the
credit risk of the account debtors and receives cash as the debtors settle their accounts. The
company then receives the value of the invoice less a percentage retained by the company as their
fee for the factoring service.
“The Factor will typically obtain a personal guarantee or some form of security from a director of a
company before commencement of any agreement,” explains Arun.
There are two specific types of factoring - Open and Hidden factoring. In Open Factoring the
company does not mind if its customers know if they are using a Factor. The debtor is sent
invoices by the Factor to recover the face value of the invoices.
If a company has decided to Factor invoices to improve cash flow, it may wish to keep this from its
customers. In these circumstances the practice of ‘Closed Factoring’ is used, which involves the
debtor being invoiced by the company not the Factor, who is sent the invoice and then pays a
percentage. When the debtor pays the invoice the sum due to the Factor is then paid.
“The process of factoring is susceptible to fraudulent activity, if there are not sufficient controls in
place within a business,” says Arun. “A Managing Director may not be aware that those dealing with the raising of invoices for the company may well be devising a fraudulent scheme by creation location of businesses: “The fact that the postcode of a company is the same or in a similar geographical location to the debtor is one warning sign to look for. Another is the existence of large invoice amounts relative to the average for that debtor.”
The fraud is sometimes not internal but purely perpetrated to cause loss to the Factor. “One
example of this was uncovered in 2008 where the Directors of a Manchester based computer firm,
Ravelle, were convicted in a £3.25 million fraud upon its creditors. The fraud was centred on the
creation of false sales documents and a complex web of inter-company transactions designed to
deceive Factoring companies into providing finance to the Ravelle Group. This is a prime example
of collusion, which is one pre-requisite for factoring fraud.
“Many types of fraud are only possible if collusion between parties exists. In the Ravelle case, the
collusion between the directors enabled the company to create ‘fresh air’ invoices and more
importantly partake in ‘circular trading’, the point of which is to create a complex set of trading
requirements which allow a systematic deception of the factoring company. The schemes that
keep companies running could not have been implemented without the continued input of the
parties at Ravelle, and one of the Directors was a qualified accountant.”
He adds: “In the current economic climate the temptation for directors to cross the line and partake
in Factoring fraud is greater owing to the constraints on cash flow. Any fraudulent activity is bound
to leave a trail of evidence that will soon be detected, and our specialist fraud lawyers are skilled in
finding such discrepancies. The fraud will eventually be detected, no matter how small.”
Challinors has offices in Birmingham city centre, Edgbaston, West Bromwich and Nottingham. The
firm has 23 partners and over 100 fee earners, and is ranked as one of the top legal firms in the
West Midlands, being Number 1 in the Chambers UK Directory in a number of categories. For more information visit: www.challinors.co.uk.
Shaw Capital Management and Financing offer funding for a wide range of industries and flexible funding requirements that most businesses can easily qualify for.
Shaw Management Tips on Identity Theft – A Warning
Fraud committed by a criminal who has stolen someone else’s identity is identity fraud usually used online and some boiler room management scams. By stealing documents such as your passport, driving license or bank statements - or online ID, such as usernames, passwords and personal security questions - thieves can now take cash from your accounts, commit benefit fraud, or take out new credit cards or loans, all in your name. Online frauds that sucker victims into revealing crucial private data, known as ‘phishing’ scams, are becoming more common. But for most people, the greater danger still lies in more old-fashioned methods: burglars who steal documents and chequebooks; fraudsters who intercept your post; and even thieves who dredge through bin bags.
Shaw Capital will give you tips and warning on how big is the problem nowadays on online scams and fraud. In the UK, more than 70,000 people were victims last year, according to figures from the Credit Industry Fraud Avoidance Service (CIFAS). Given the large number of cases, the sums involved are hardly huge - the Association for Payment Clearing Services puts the total taken by identity fraudsters last year at £37m, but this is a 66% jump on the previous year. However, they calculate the overall cost to the economy - including the time and money spent by banks in combatting the crime - is a massive £1.3bn.
Caution is the key. Shaw Capital and its management always emphasize to read bank and credit-card statements carefully and check against receipts. If you have any worries, tell the bank concerned straightaway; scammers often test the water with a small transaction first before attempting a larger theft. Check your credit report often for any credit requests not made by you. Shred statements, bills and even direct mail; these all contain vital personal information. Register with the Mailing Preference Service (0845-703 4599, www.mpsonline.org.uk) to stop junk mail and get mail redirected when you move home. Leave all unnecessary credit cards and ID at home when you go out, but do not leave key documents together in one place easily accessible to a burglar. Use different PINs and passwords for different accounts, and never disclose your full PIN or password in an e-mail or over the phone, even if you think you are talking to a bank employee.
Report the suspected crime to the police and ask for a crime reference number, which you will need to recover any losses. Also, spend £11.75 on the protective registration service offered by fraud prevention service CIFAS (0870-010 2091, www.cifas.org.uk). They will place a notice on your credit file warning banks and lenders that there’s an increased risk of identity fraud. Companies will then seek extra verification from anyone applying for credit in your name. Impersonation of the dead is the fastest-growing type of identity theft, so take this into account when dealing with a relative’s death and estate: immediately notify the relevant Government departments, such as the Department of Work and Pensions and the Inland Revenue, and return important documents by registered delivery.
Shaw Capital will give you tips and warning on how big is the problem nowadays on online scams and fraud. In the UK, more than 70,000 people were victims last year, according to figures from the Credit Industry Fraud Avoidance Service (CIFAS). Given the large number of cases, the sums involved are hardly huge - the Association for Payment Clearing Services puts the total taken by identity fraudsters last year at £37m, but this is a 66% jump on the previous year. However, they calculate the overall cost to the economy - including the time and money spent by banks in combatting the crime - is a massive £1.3bn.
Caution is the key. Shaw Capital and its management always emphasize to read bank and credit-card statements carefully and check against receipts. If you have any worries, tell the bank concerned straightaway; scammers often test the water with a small transaction first before attempting a larger theft. Check your credit report often for any credit requests not made by you. Shred statements, bills and even direct mail; these all contain vital personal information. Register with the Mailing Preference Service (0845-703 4599, www.mpsonline.org.uk) to stop junk mail and get mail redirected when you move home. Leave all unnecessary credit cards and ID at home when you go out, but do not leave key documents together in one place easily accessible to a burglar. Use different PINs and passwords for different accounts, and never disclose your full PIN or password in an e-mail or over the phone, even if you think you are talking to a bank employee.
Report the suspected crime to the police and ask for a crime reference number, which you will need to recover any losses. Also, spend £11.75 on the protective registration service offered by fraud prevention service CIFAS (0870-010 2091, www.cifas.org.uk). They will place a notice on your credit file warning banks and lenders that there’s an increased risk of identity fraud. Companies will then seek extra verification from anyone applying for credit in your name. Impersonation of the dead is the fastest-growing type of identity theft, so take this into account when dealing with a relative’s death and estate: immediately notify the relevant Government departments, such as the Department of Work and Pensions and the Inland Revenue, and return important documents by registered delivery.
Factoring of Credit Card or ACH Transactions for Fraud Scams
Shaw Capital Management and Financing provide same-day-funding. We can help you meet your cashflow needs immediately without entering into a long term factoring relationship. The money you get for the freight bills we purchase is payment in full.
Many telemarketing businesses rely almost exclusively on credit card purchases but in order to conduct credit card sales, a legitimate business must first enter into a merchant account agreement with a bank which agrees to process their credit card transactions.
In most retail credit card transactions, the business provides the merchant bank with a sales slip (draft) representing the customer's credit card information and signature authorizing the charge.
The bank then transfers this amount into the business's merchant account. The business may then draw from that amount or transfer the money to other accounts. The merchant bank then contacts the issuer of the customer's credit card (issuing bank), presents the sales draft and requests reimbursement.
The card-issuing bank then bills the customer for the purchase. If the customer returns the purchased item or challenges the charge, a "charge-back" results and the issuing bank credits the customer's account and asks the merchant bank for a refund.
The merchant bank is then only entitled to recoup its loss from the "business", not the credit card customer. If the business refuses, lacks sufficient funds, or is no longer functioning, the merchant bank absorbs the loss.
One bank review revealed that a single telemarketing operation deposited almost $1,000,000 into various merchant accounts. As a result of charge-backs, the bank lost $663,456 resulting from multiple sales credits of $399.50.
Due to the high charge-back ratios and lack of signed sales slips prevalent with fraudulent telemarketing companies it is difficult for the scammers to find merchant banks willing to accept their credit card transactions.
This restriction led to the development of "factoring" where the telemarketer uses a "reputable" third-party, non-telemarketing business (factoring merchant) as a conduit for depositing credit card sales for a percentage fee of around 15%. This factoring merchant processes the transaction either through his account or through a separate one created for the telemarketing company.
Telemarketers will induce acquaintances, friends and reputable merchants to open a merchant account with promises of easy money, neglecting to mention the personal liability involved. They may advise them not to deposit too substantial an amount of sales in a single day, or deposit too many sales using the same dollar amount, as this may raise suspicion at the bank.
Section 310.3(c) of the Telemarketing Sales Rule, which prohibits credit card laundering or factoring, provides that:
Except as expressly permitted by the applicable credit card system, it is a deceptive telemarketing act or practice and a violation of this Rule for:
(1) A merchant to present to or deposit into, or cause another to present to or deposit into, the credit card system for payment, a credit card sales draft generated by a telemarketing transaction that is not the result of a telemarketing credit card transaction between the cardholder and the merchant . . . .
Shaw Capital Management and Financing offer a complete line of factoring services, purchase order funding, asset based financing, accounts receivable management, and other related financial services.
Shaw Capital Management and Financing offer funding for a wide range of industries and flexible funding requirements that most businesses can easily qualify for.
Many telemarketing businesses rely almost exclusively on credit card purchases but in order to conduct credit card sales, a legitimate business must first enter into a merchant account agreement with a bank which agrees to process their credit card transactions.
In most retail credit card transactions, the business provides the merchant bank with a sales slip (draft) representing the customer's credit card information and signature authorizing the charge.
The bank then transfers this amount into the business's merchant account. The business may then draw from that amount or transfer the money to other accounts. The merchant bank then contacts the issuer of the customer's credit card (issuing bank), presents the sales draft and requests reimbursement.
The card-issuing bank then bills the customer for the purchase. If the customer returns the purchased item or challenges the charge, a "charge-back" results and the issuing bank credits the customer's account and asks the merchant bank for a refund.
The merchant bank is then only entitled to recoup its loss from the "business", not the credit card customer. If the business refuses, lacks sufficient funds, or is no longer functioning, the merchant bank absorbs the loss.
One bank review revealed that a single telemarketing operation deposited almost $1,000,000 into various merchant accounts. As a result of charge-backs, the bank lost $663,456 resulting from multiple sales credits of $399.50.
Due to the high charge-back ratios and lack of signed sales slips prevalent with fraudulent telemarketing companies it is difficult for the scammers to find merchant banks willing to accept their credit card transactions.
This restriction led to the development of "factoring" where the telemarketer uses a "reputable" third-party, non-telemarketing business (factoring merchant) as a conduit for depositing credit card sales for a percentage fee of around 15%. This factoring merchant processes the transaction either through his account or through a separate one created for the telemarketing company.
Telemarketers will induce acquaintances, friends and reputable merchants to open a merchant account with promises of easy money, neglecting to mention the personal liability involved. They may advise them not to deposit too substantial an amount of sales in a single day, or deposit too many sales using the same dollar amount, as this may raise suspicion at the bank.
Section 310.3(c) of the Telemarketing Sales Rule, which prohibits credit card laundering or factoring, provides that:
Except as expressly permitted by the applicable credit card system, it is a deceptive telemarketing act or practice and a violation of this Rule for:
(1) A merchant to present to or deposit into, or cause another to present to or deposit into, the credit card system for payment, a credit card sales draft generated by a telemarketing transaction that is not the result of a telemarketing credit card transaction between the cardholder and the merchant . . . .
Shaw Capital Management and Financing offer a complete line of factoring services, purchase order funding, asset based financing, accounts receivable management, and other related financial services.
Shaw Capital Management and Financing offer funding for a wide range of industries and flexible funding requirements that most businesses can easily qualify for.
Shaw Capital Tips and Warning on How to Spot Boiler Rooms
The North American Securities Administrators Association management estimates that unwary investors lose billions a year to investment fraud. Self-employment scams and high-tech schemes are among investments most recently heavily promoted by online. This tip sheet is designed to provide investors with self-defense tactics to fight off the promotion of investment scams by "boiler rooms," the high-pressure phone sales operations from which sales people call to promote abusive and fraudulent deals.
Shaw Capital tips and Warning on Boiler Rooms and How to Spot a "Boiler Room" Scam and fraud:
High-pressure sales tactics. Salesmen and the management may make repeated calls and even become abusive, questioning, for example, the intelligence of anyone who would pass up such a "sure thing."
Outrageous promises of extraordinarily high profit at little or no risk. The management rule is: The higher the return, the higher the risk. Listen for salesmen who claim it is possible to make extremely high (15, 20 or 30 percent) or even "guaranteed" profits without any risk of loss. Most legitimate firms will provide written materials clearly disclosing the potential for loss in an investment, as well as its short- and long-term tax implications.
A demand for an immediate decision. Boiler room salesmen want fast action before you have a chance to develop second thoughts or consult with a professional for advice. As a result, many deals will be "gone tomorrow," "sold out today" or have "just one of two remaining openings."
A reluctance to provide information about the sales firm or the investment. If a boiler room is uncovered, it may be subject to state or federal action. Therefore, some phone scam operators are not forthcoming when asked information about the sales operation and investment.
Mumbo-jumbo about "inside information" or "secret" technology. In order to close a sale, the voice on the other end of the phone may tell you that this is a "sure thing." A common claim is that celebrities, major corporations or banks will be investing shortly. Or the salesman may claim that a new geological report is coming out shortly. In other cases, the claim may be that the company is using some sort of hush-hush "black box" technology that makes it possible to process gold at a fraction of the cost paid by other firms.
Delayed delivery of the product and/or profits. This is a classic "red flag" of an investment scam. If you don`t have your investment in hand or under your control in some other location, you have nothing for your money. Beware of promises involving delays of more than a few weeks for delivery of your investment.
Unusual arrangements for collecting funds from investors. Some con artists try to avoid mail fraud charges by using overnight courier services (Federal Express or Purolator, for example). Other phone scam operations go even further-sending a courier or cab to pick up the check. No matter what unusual collection method is used, the purpose is the same: Don`t give customers enough time to back out of sending money.
Shaw Capital tips and Warning on Boiler Rooms and How to Spot a "Boiler Room" Scam and fraud:
High-pressure sales tactics. Salesmen and the management may make repeated calls and even become abusive, questioning, for example, the intelligence of anyone who would pass up such a "sure thing."
Outrageous promises of extraordinarily high profit at little or no risk. The management rule is: The higher the return, the higher the risk. Listen for salesmen who claim it is possible to make extremely high (15, 20 or 30 percent) or even "guaranteed" profits without any risk of loss. Most legitimate firms will provide written materials clearly disclosing the potential for loss in an investment, as well as its short- and long-term tax implications.
A demand for an immediate decision. Boiler room salesmen want fast action before you have a chance to develop second thoughts or consult with a professional for advice. As a result, many deals will be "gone tomorrow," "sold out today" or have "just one of two remaining openings."
A reluctance to provide information about the sales firm or the investment. If a boiler room is uncovered, it may be subject to state or federal action. Therefore, some phone scam operators are not forthcoming when asked information about the sales operation and investment.
Mumbo-jumbo about "inside information" or "secret" technology. In order to close a sale, the voice on the other end of the phone may tell you that this is a "sure thing." A common claim is that celebrities, major corporations or banks will be investing shortly. Or the salesman may claim that a new geological report is coming out shortly. In other cases, the claim may be that the company is using some sort of hush-hush "black box" technology that makes it possible to process gold at a fraction of the cost paid by other firms.
Delayed delivery of the product and/or profits. This is a classic "red flag" of an investment scam. If you don`t have your investment in hand or under your control in some other location, you have nothing for your money. Beware of promises involving delays of more than a few weeks for delivery of your investment.
Unusual arrangements for collecting funds from investors. Some con artists try to avoid mail fraud charges by using overnight courier services (Federal Express or Purolator, for example). Other phone scam operations go even further-sending a courier or cab to pick up the check. No matter what unusual collection method is used, the purpose is the same: Don`t give customers enough time to back out of sending money.
Shaw to Host Conference Call to Discuss Global Strategic Partnership Announcement
The Shaw Group Inc. (NYSE: SHAW) today announced it will hold a conference call today, Nov. 29, 2010, at 11 a.m. Eastern time (10 a.m. Central time) to discuss a new global strategic partnership. A slide presentation will be posted on the Investor Relations page of Shaw's website at www.shawgrp.com approximately one hour prior to the conference call.
Interested parties may dial 1-800-588-4973 to listen to the conference call live or access a live audio webcast of the call on the Investor Relations page of Shaw's website at www.shawgrp.com.
A replay of the conference call will be available after the call by telephone, as well as on the company's website. To listen to the replay by telephone, dial 1-888-843-7419 and use pass code 28531133#.
The Shaw Group Inc. (NYSE:SHAW) is a leading global provider of engineering, construction, technology, fabrication, remediation and support services for clients in the energy, chemicals, environmental, infrastructure and emergency response industries. A Fortune 500 company with fiscal year 2010 annual revenues of $7 billion, Shaw has approximately 27,000 employees around the world and is the power sector industry leader according to Engineering News-Record's list of Top 500 Design Firms. For more information, please visit Shaw's website at www.shawgrp.com.
This press release contains forward-looking statements and information about our current and future prospects, operations and financial results, which are based on currently available information. Actual future results and financial performance could vary significantly from those anticipated in such statements.
Among the factors that could cause future events or transactions to differ from those we expect are those risks discussed in our Annual Report on Form 10-K for the fiscal year ended August 31, 2010, our Quarterly Reports on Form 10-Q for the quarters ended November 30, 2009, February 28, 2010, and May 31, 2010, and other reports filed with the Securities and Exchange Commission ("SEC"). Please read our "Risk Factors" and other cautionary statements contained in these filings. Our current expectations may not be realized as a result of, among other things:
* Changes in our clients' financial conditions, including their capital spending;
* Our ability to obtain new contracts and meet our performance obligations;
* Client contract cancellations or modifications to contract scope;
* Worsening global economic conditions;
* Changes to the regulatory environment;
* Failure to achieve projected backlog.
As a result of these risks and others, actual results could vary significantly from those anticipated in this presentation, and our financial condition and results of operations could be materially adversely affected. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, the occurrence of certain events, or otherwise.
Interested parties may dial 1-800-588-4973 to listen to the conference call live or access a live audio webcast of the call on the Investor Relations page of Shaw's website at www.shawgrp.com.
A replay of the conference call will be available after the call by telephone, as well as on the company's website. To listen to the replay by telephone, dial 1-888-843-7419 and use pass code 28531133#.
The Shaw Group Inc. (NYSE:SHAW) is a leading global provider of engineering, construction, technology, fabrication, remediation and support services for clients in the energy, chemicals, environmental, infrastructure and emergency response industries. A Fortune 500 company with fiscal year 2010 annual revenues of $7 billion, Shaw has approximately 27,000 employees around the world and is the power sector industry leader according to Engineering News-Record's list of Top 500 Design Firms. For more information, please visit Shaw's website at www.shawgrp.com.
This press release contains forward-looking statements and information about our current and future prospects, operations and financial results, which are based on currently available information. Actual future results and financial performance could vary significantly from those anticipated in such statements.
Among the factors that could cause future events or transactions to differ from those we expect are those risks discussed in our Annual Report on Form 10-K for the fiscal year ended August 31, 2010, our Quarterly Reports on Form 10-Q for the quarters ended November 30, 2009, February 28, 2010, and May 31, 2010, and other reports filed with the Securities and Exchange Commission ("SEC"). Please read our "Risk Factors" and other cautionary statements contained in these filings. Our current expectations may not be realized as a result of, among other things:
* Changes in our clients' financial conditions, including their capital spending;
* Our ability to obtain new contracts and meet our performance obligations;
* Client contract cancellations or modifications to contract scope;
* Worsening global economic conditions;
* Changes to the regulatory environment;
* Failure to achieve projected backlog.
As a result of these risks and others, actual results could vary significantly from those anticipated in this presentation, and our financial condition and results of operations could be materially adversely affected. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, the occurrence of certain events, or otherwise.
Wednesday, January 19, 2011
Avoid Scam, Learn About Asset Based Financing
Shaw Capital Management and Financing tips on Why A Business Asset Based Loan Financing Is The Perfect Solution For Cash Flow In Canada
Shaw Capital Management and Financing provide same-day-funding. We can help you meet your cashflow needs immediately without entering into a long term factoring relationship. The money you get for the freight bills we purchase is payment in full. You are a Canadian business owner and financial manager looking for info and guidance on a business asset based loan. What is asset based loan financing, sometimes called cash flow factoring - how does it work, and why could it be the best solution for your firm's working capital challenges.
Let's cover off the basics and find out how you can benefit form this relatively speaking new form of asset financing in Canada.
A good start is to always understand and cover off some basics around what this type of financing is. Simply speaking the facility is a loan arrangement that is drawn down and repaid regularly based on your receivables, inventory, and, if required, equipment and real estate should your firm possess those assets also.
By collateralizing your assets you in effect create an ongoing borrowing base for all your assets - this feasibility then fluctuate on a daily basis based on invoices you generate, inventory you move, and cash you collect from customers. When you need more working capital you simply draw down on initial funds as covered under your asset base.
Your probably can already see the advantage, which is simply that if you have assets you have cash. Your receivables and inventory, as they grow, in effect provide you with unlimited financing.
Unlike a Canadian chartered bank financing your business asset based loan financing in effect has no cap. The alternative facility for this type of working capital financing is of course a Canadian chartered bank line of credit - that facility always comes with a cap and stringent requirements re your balance sheet and income statement quality and ratios, as well as performance covenants and personal guarantees and outside collateral. So there is a big difference in the non bank financing we have table for your consideration.
Your asset based lender works with you to manage the facility - and you are required to regularly report on your levels of A/R and inventory, which are the prime underpinnings of the financing.
Smaller firms use a particular subset of this financing, often called factoring or cash flow factoring. This specific type of financing is less transparent to your customers, as the cash flow factor might insist on verifying your invoices with customers, etc. A true asset based loan financing is usually transparent to your customers, which is the way you want it to be - You bill and collect our own invoices.
If our facility provides you with unlimited working capital then why have you potentially not heard of it and why aren't your competitors using it. Our clients always can be forgiven for asking that question. The reality is that in the U.S. this type of financing is a multi billion dollar industry, it has gained traction in Canada, even more so after the financial meltdown of 2008. Some of Canada's largest corporations use the financing. And if your firm has working capital assets anywhere from 250k and up you are a candidate. Larger facilities are of course in the many millions of dollars.
The Canadian asset based financing market is very fragmented and has a combo of U.S., international and Canadian asset finance lenders. They have varying appetites for deal size, how the facility works on a daily basis, and pricing, which can be competitive to banks or significantly higher.
Speak to a trusted, credible and experienced business financing advisor and determine if the advantages of business asset based loan financing work for your firm. They have the potential of accelerating cash flow, giving you cash all the time when you need it ( assuming you have assets ) and essentially liquefying and monetizing your current assets to provide constant cash flow, and that's what its all about. Stan Prokop is founder of 7 Park Avenue Financial - http://www.7parkavenuefinancial.com
About Shaw Capital Management and Financings
Shaw Capital Management and Financing provides export trade financing to clients in every major world market and can convert accounts receivable finance transactions in 17 currencies.We have no minimum or maximum monthly volume requirements. Other factoring companies require a financial commitment for the amount of freight bills you factor each month.
Our highly skilled team provides full administrative support - including credit management, invoicing, collections, account reporting, expense reporting, fuel card management and much more!
With Shaw Capital Management and Financing, you get paid in full minus our fee the day we receive your freight bills. Other factoring companies holdback 10 to 15 percent of your money or more for each invoice in a reserve account. That reserve amount is not immediately provided to your company. In the end, you receive part of that percentage back, depending on how long it takes the factoring company to receive payment on the invoice.
shaw capital management korea - tips for shaw capital management korea, guides for shaw capital management korea
4th Annual Lexus Santa Monica 5000 Presented by Ed Hardy Sport Announces Additional Sponsors: Sports
4th Annual Lexus Santa Monica 5000 Presented by Ed Hardy Sport scheduled 10/11/09 announces additional sponsors: Sports Retailer Top To Top, media partners CBS 2/KCAL 9, financial partner Caltius Capital Management
by edhardy On September 22,2009 | Product Reviews
Factoring of Credit Card or ACH Transactions for Fraud Scams
Shaw Capital Management and Financing provide same-day-funding. We can help you meet your cashflow needs immediately without entering into a long term factoring relationship.
by shawcapitalman On November 2,2010 | Finance
Invoice factoring could be next big thing for fraud scam, predicts lawyer
Shaw Capital Management and Financing offer a complete line of factoring services, purchase order funding, asset based financing, accounts receivable management, and other related financial services.
by shawcapitalman On November 2,2010 | Finance
Shaw Capital Management and Financing News
Shaw Capital Management and Financing provides export trade financing to clients in every major world market and can convert accounts receivable finance transactions in 17 currencies.
by shawcapitalman On November 2,2010 | Finance
Avoid Scam, Learn About Asset Based Financing
Shaw Capital Management and Financing tips on Why A Business Asset Based Loan Financing Is The Perfect Solution For Cash Flow In Canada
by shawcapitalman On November 2,2010 | Finance
Info: Avoid Scam on Asset Based Financing
Two types of asset based financing for your information to avoid factoring scams. For Working Capital. Shaw Capital Management and Financing offers asset based lending for companies that need to maxi
by shawcapitalman On November 2,2010 | Finance
Factoring and Accounts Receivable Financing Expert Tips
Shaw Capital Management and Financing sharing information, tips and advice on factoring and accounts receivable financing and factoring to avoid scams and other fraudulent transactions.
by shawcapitalman On November 2,2010 | Finance
Employee Loyalty – Building the Retention Environment
Is employee loyalty a thing of the past? Has the concept of retaining employees for the lifetime of their careers become an outdated model in today’s business strategy?
by MKS&H On November 3,2010 | Business
Shaw Capital Guide to Interest-Free SBA ARC Loans for Debt Relief
Shaw Capital Management and Financing – Avoid debt and interest scams. Recovery Act Emergency Loans to $35,000 for Small Business.
by Shaw Capital Management and Financings On November 18,2010 | Finance
Shaw Capital Guide to Business Loans from Family & Friends
Shaw Capital Management and Financing – The key to successful financing is structuring loans right. Avoid Debt Management Scams.
by Shaw Capital Management and Financings On November 18,2010 | Finance
Small business loans: Time to start a small business
To commence a new business you need to have a proper planning, coordination, talent, intelligence and primarily strong capital management skills. But, this is not sufficient because with the passage of time business demand adequate funds which is not poss
by jsnow0733 On November 28,2010 | Finance
Annaly Capital Management, Inc. - SWOT Analysis - Market Research Report On Aarkstore Enterprise
Aarkstore.com announce a new report "Annaly Capital Management, Inc. - SWOT Analysis" through its vast collection of market research report.
by Aarkstore Enterprise On December 2,2010 | Finance
Shaw to Host Conference Call to Discuss Global Strategic Partnership Announcement
The Shaw Group Inc. (NYSE: SHAW) today announced it will hold a conference call today, Nov. 29, 2010, at 11 a.m
by shawgroup On December 13,2010 | Technology
Shaw Management Tips on Identity Theft – A Warning
Fraud committed by a criminal who has stolen someone else’s identity is identity fraud usually used online and some boiler room management scams.
by shawgroup On December 15,2010 | Technology
Shaw Names Gentry Brann as Vice President of Investor Relations and Corporate Communications Managem
The Shaw Capital Group Inc. (NYSE: SHAW) today announced Gentry Brann has been named vice president of Investor Relations and Corporate Communications Management.
by shawgroup On December 15,2010 | Technology
Shaw Capital Awarded Construction Management Contract for Clean Fuel Project
Shaw Capital Awarded Construction Management Contract for Clean Fuel Project at Marathon Illinois Refinery
by shawgroup On December 15,2010 | Technology
Shaw Announces First Quarter Fiscal Year 2011 Earnings Conference Call and Live Webcast
The Shaw Group Inc. (NYSE: SHAW) today announced it will hold a conference call Thursday, Jan. 6, 2011, at 5 p.m. Eastern time (4 p.m. Central time) to discuss the company's financial results for the
by shawgroup On January 5,2011 | Technology
Info: Avoid Scam on Asset Based Financing
Two types of asset based financing for your information to avoid factoring scams. For Working Capital. Shaw Capital Management and Financing offers asset based lending for companies that need to maximize their borrowing capacity using accounts receivable and inventory as collateral. Receivable based financing combined with inventory finance has become a useful tool for many undercapitalized businesses.
Shaw Capital Management and Financing evaluate a client's business assets as its primary focus to establish the borrowing base. The result is usually far greater borrowing power than can be achieved from a traditional cash flow banking approach due to our expertise in industry specialization.
Bank Financing. Shaw Capital Management and Financing offer higher advance rates due to our experience in receivable valuation. In the event where the client already has a bank line of credit, an Inter-creditor agreement is made between the bank and Shaw Capital Management and Financing where the receivables are assigned to Shaw Capital Management and Financing and therefore allows the client to borrow at higher advance rates.
“Due to the recession, many businesses have seen their credit rating dwindle and in most instances, the credit of small businesses is based off of the business owner's personal credit rating. Small businesses have not been the only businesses that have been affected by the recession and stricter lending standards however. Many large scale companies are getting rejecting for unsecured loans that they would have qualified for five to ten years ago.
After the markets started crashing a few years ago, most people thought that asset based lending and subprime loan companies would be put out of business forever. While subprime mortgage lending took a big hit, it has been found out that asset based lending for businesses is actually making a big comeback. With credit companies refusing to issue loans to companies that they may have leant to prior to the recession, businesses have had to find a way to obtain the financing that they need. Asset based lending companies have stepped in full force and are quickly growing in popularity.
Asset loans use a company's liquid assets to determine whether or not they are going to lend to them rather than using a credit score. Credit scores are still obtained but they are not the ultimate and definitive deciding factor with asset based lending. Liquid assets can be defined as the company's equipment, accounts receivable, restaurant assets and in some cases even real estate if it is owned by the business. The business enters into a contract that uses their assets as collateral in the event that they ever default on the loan. What used to be considered subprime lending is now becoming a very popular and widely used method of obtaining loans for business owners.
Shaw Capital Management and Financing provide same-day-funding. We can help you meet your cashflow needs immediately without entering into a long term factoring relationship. The money you get for the freight bills we purchase is payment in full.
Shaw Capital Management and Financing offer a complete line of factoring services, purchase order funding, asset based financing, accounts receivable management, and other related financial services.
Shaw Capital Management and Financing offer funding for a wide range of industries and flexible funding requirements that most businesses can easily qualify for.
Shaw Capital Management and Financing evaluate a client's business assets as its primary focus to establish the borrowing base. The result is usually far greater borrowing power than can be achieved from a traditional cash flow banking approach due to our expertise in industry specialization.
Bank Financing. Shaw Capital Management and Financing offer higher advance rates due to our experience in receivable valuation. In the event where the client already has a bank line of credit, an Inter-creditor agreement is made between the bank and Shaw Capital Management and Financing where the receivables are assigned to Shaw Capital Management and Financing and therefore allows the client to borrow at higher advance rates.
“Due to the recession, many businesses have seen their credit rating dwindle and in most instances, the credit of small businesses is based off of the business owner's personal credit rating. Small businesses have not been the only businesses that have been affected by the recession and stricter lending standards however. Many large scale companies are getting rejecting for unsecured loans that they would have qualified for five to ten years ago.
After the markets started crashing a few years ago, most people thought that asset based lending and subprime loan companies would be put out of business forever. While subprime mortgage lending took a big hit, it has been found out that asset based lending for businesses is actually making a big comeback. With credit companies refusing to issue loans to companies that they may have leant to prior to the recession, businesses have had to find a way to obtain the financing that they need. Asset based lending companies have stepped in full force and are quickly growing in popularity.
Asset loans use a company's liquid assets to determine whether or not they are going to lend to them rather than using a credit score. Credit scores are still obtained but they are not the ultimate and definitive deciding factor with asset based lending. Liquid assets can be defined as the company's equipment, accounts receivable, restaurant assets and in some cases even real estate if it is owned by the business. The business enters into a contract that uses their assets as collateral in the event that they ever default on the loan. What used to be considered subprime lending is now becoming a very popular and widely used method of obtaining loans for business owners.
There are a few downfalls to pass around to asset based lending as well. The first major downfall is that if the business defaulted on the loan, then the lender has the right to seize physical assets and future payments that are due to the company depending on what asset is being held in collateral. Second, the interest rates are often above 10%, which is typically higher than standard lending rates. And last, the lending limits may be lower than traditional lending, as most asset based lending companies will only lend an average of 60% of the value of physical and hard assets and 80% of the value of future accounts receivables. By Vanessa Sweeney”
Shaw Capital Management and Financing provide same-day-funding. We can help you meet your cashflow needs immediately without entering into a long term factoring relationship. The money you get for the freight bills we purchase is payment in full.
Shaw Capital Management and Financing offer a complete line of factoring services, purchase order funding, asset based financing, accounts receivable management, and other related financial services.
Shaw Capital Management and Financing offer funding for a wide range of industries and flexible funding requirements that most businesses can easily qualify for.
Based in Baltimore, Maryland. Importing into the tri-state area mostly from the far east such as China, Thailand, Taiwan and South Korea.
Tuesday, January 11, 2011
D. E. Shaw & Co. - Wikipedia, the free encyclopedia
D. E. Shaw & Co., L.P. is a global investment[1] and technology development firm based in New York, New York whose activities center on many aspects of the intersection between technology and finance. The firm was founded by David E. Shaw, who was formerly a faculty member in the computer science department at Columbia University. The firm, through various affiliates, specializes in applying quantitative and qualitative trading strategies to hedge fund management and other investments. It makes private equity investments in early-stage and established firms involved in technology, health care, and financial services. It also acquires assets of distressed companies. The company's D. E. Shaw Research unit focuses on long-term scientific and technological projects.
As recently as August 2008, the firm, described by Fortune in 1996 as "the most intriguing and mysterious force on Wall Street,"[2] managed nearly $40 billion in aggregate capital,[3] making it one of the world's largest hedge funds by assets under management.[4] As of October 1, 2010 the company managed approximately $20 billion in investment and committed capital.[3]
In 1997, the firm returned capital to most of its early investors in favor of a structured credit facility of nearly $2 billion from Bank of America, with terms that allowed Shaw to keep a higher fraction of profits than hedge fund investors normally allow. Bank of America merged with NationsBank soon thereafter, and in the banks' due diligence for their merger, David Coulter, the CEO of Bank of America, said that his firm had no hedge fund exposure. After the Russian debt default in 1998, Shaw, like Long-Term Capital Management (LTCM) and many other hedge funds, suffered significant losses in its fixed-income trading. Bank of America took a $370 million writedown, Coulter lost his job, and the new management of the bank later declined its option to renew the credit facility.
Shaw suffered a couple of lean years thereafter, but attracted new investors as its investment performance recovered.
Many of D. E. Shaw's recent headline-making transactions deal with investing in bankrupt companies with valuable assets.[citation needed] In December 2003, a subsidiary of one of the D. E. Shaw group funds acquired famed toy store FAO Schwarz, which reopened for business in New York and Las Vegas in the fall of 2004. In the same year, D. E. Shaw affiliate Laminar Portfolios also acquired the online assets of KB Toys, which continued operating as eToys.com.[5] In August 2004, D. E. Shaw along with MIC Capital, proposed to inject $50M into the bankrupt WCI Steel. In December 2004, Shaw bought 6.6% of USG Corp, a wallboard manufacturer seeking bankruptcy protection as a result of rising asbestos liabilities.
Lawrence Summers, who served as Secretary of the Treasury during the Clinton administration, resigned as president of Harvard University in 2006 and started the same year as a managing director at D.E. Shaw. Summers had helped negotiate a bailout of hedge fund LTCM while with Treasury in 1998.[6] In 2008 Summers left D.E. Shaw after being appointed Assistant to the President for Economic Policy and Director of the National Economic Council, by then-President-Elect Barack Obama.[7] Summers received at least $5.2 million in compensation from Shaw, according to the first year's reporting of income when he returned to government service, in a 2009 report.[8]
In addition to its financial businesses, the D. E. Shaw group has also provided private equity capital to technology-related business ventures, most famously to Juno Online Services, which grew to become one of the nation’s largest Internet access providers.
In 2007, David Shaw sold a 20% minority stake in the Shaw group to Lehman Brothers, as part of a broader strategy to diversify his own holdings.
Early in 2010 D.E. Shaw set up its Portfolio Acquisitions Unit, the aim of which is to acquire many illiquid assets from rival hedge funds. These assets which are trading at steep discounts, are so-called "side-pocketed" assets.[9]
As recently as August 2008, the firm, described by Fortune in 1996 as "the most intriguing and mysterious force on Wall Street,"[2] managed nearly $40 billion in aggregate capital,[3] making it one of the world's largest hedge funds by assets under management.[4] As of October 1, 2010 the company managed approximately $20 billion in investment and committed capital.[3]
In 1997, the firm returned capital to most of its early investors in favor of a structured credit facility of nearly $2 billion from Bank of America, with terms that allowed Shaw to keep a higher fraction of profits than hedge fund investors normally allow. Bank of America merged with NationsBank soon thereafter, and in the banks' due diligence for their merger, David Coulter, the CEO of Bank of America, said that his firm had no hedge fund exposure. After the Russian debt default in 1998, Shaw, like Long-Term Capital Management (LTCM) and many other hedge funds, suffered significant losses in its fixed-income trading. Bank of America took a $370 million writedown, Coulter lost his job, and the new management of the bank later declined its option to renew the credit facility.
Shaw suffered a couple of lean years thereafter, but attracted new investors as its investment performance recovered.
Many of D. E. Shaw's recent headline-making transactions deal with investing in bankrupt companies with valuable assets.[citation needed] In December 2003, a subsidiary of one of the D. E. Shaw group funds acquired famed toy store FAO Schwarz, which reopened for business in New York and Las Vegas in the fall of 2004. In the same year, D. E. Shaw affiliate Laminar Portfolios also acquired the online assets of KB Toys, which continued operating as eToys.com.[5] In August 2004, D. E. Shaw along with MIC Capital, proposed to inject $50M into the bankrupt WCI Steel. In December 2004, Shaw bought 6.6% of USG Corp, a wallboard manufacturer seeking bankruptcy protection as a result of rising asbestos liabilities.
Lawrence Summers, who served as Secretary of the Treasury during the Clinton administration, resigned as president of Harvard University in 2006 and started the same year as a managing director at D.E. Shaw. Summers had helped negotiate a bailout of hedge fund LTCM while with Treasury in 1998.[6] In 2008 Summers left D.E. Shaw after being appointed Assistant to the President for Economic Policy and Director of the National Economic Council, by then-President-Elect Barack Obama.[7] Summers received at least $5.2 million in compensation from Shaw, according to the first year's reporting of income when he returned to government service, in a 2009 report.[8]
In addition to its financial businesses, the D. E. Shaw group has also provided private equity capital to technology-related business ventures, most famously to Juno Online Services, which grew to become one of the nation’s largest Internet access providers.
In 2007, David Shaw sold a 20% minority stake in the Shaw group to Lehman Brothers, as part of a broader strategy to diversify his own holdings.
Early in 2010 D.E. Shaw set up its Portfolio Acquisitions Unit, the aim of which is to acquire many illiquid assets from rival hedge funds. These assets which are trading at steep discounts, are so-called "side-pocketed" assets.[9]
Shaw Carpet at Discount Prices
Carpet has been the most popular floor covering in America for decades for good reason - carpets feel soft, reduce noise and insulate rooms. But some common misconceptions deter people from buying carpets. Before purchasing flooring, consider the following information from Shaw Floors:
MYTH 1
Asthma and allergy sufferers should not have carpet in the home.
FACT:
EPA scientists concluded that carpet fibers, in trapping and immobilizing potential allergy-causing particulates, help people with allergies. If allergens are in the carpet, they're notcirculating in the indoor air stream. Shaw recommends using a HEPA-filter vacuum to fully remove such particles from the indoor environment.
MYTH 2
Carpet is hard to maintain - it stains and wears out very easily.
FACT:
Simple steps can extend the life of your carpet and keep it looking new. Frequent vacuuming removes soil particles before they get below the surface of the pile, where they are far more difficult to remove.
Carpet in a typical household should be thoroughly cleaned every 12 to 18 months. Hot water extraction systems provide the most effective cleaning. Professional carpet cleaners generally get the best results.
.
"EPA scientists concluded that carpet fibers ... help people with allergies."
MYTH 3
Carpet is outdated and boring.
FACT:
Carpets come in patterns ranging from traditional hounds tooth to exotic zebra, and in stylish colors like chocolate or mint green. Many consumers use a mix of carpet, hardwood and tile in their homes.
MYTH 4
Carpet emits harmful chemicals that cause health problems.
FACT:
Carpet is one of the lowest emitters of VOCs (volatile organic compounds) among househld furnishings and building materials. Shaw carpets meet the industry's highest VOC standard, the Carpet & Rug Institute's Green Label Plus program.
MYTH 5
Carpet is bad for the environment
FACT:
Floor manufacturers now provide many eco-friendly options for environmentally-conscious consumers. Shaw carpets made of Anso or EverTouch nylon can be recycled at Shaw's Evergreen Nylon Recycling Facility, where they are broken down and remade into new carpet fiber. The process helps turn carpet into a renewable product and keeps carpet waste out of landfills. In fact, Shaw has collected 178 million pounds of post-consumer carpet since 2006.
MYTH 1
Asthma and allergy sufferers should not have carpet in the home.
FACT:
EPA scientists concluded that carpet fibers, in trapping and immobilizing potential allergy-causing particulates, help people with allergies. If allergens are in the carpet, they're notcirculating in the indoor air stream. Shaw recommends using a HEPA-filter vacuum to fully remove such particles from the indoor environment.
MYTH 2
Carpet is hard to maintain - it stains and wears out very easily.
FACT:
Simple steps can extend the life of your carpet and keep it looking new. Frequent vacuuming removes soil particles before they get below the surface of the pile, where they are far more difficult to remove.
Carpet in a typical household should be thoroughly cleaned every 12 to 18 months. Hot water extraction systems provide the most effective cleaning. Professional carpet cleaners generally get the best results.
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"EPA scientists concluded that carpet fibers ... help people with allergies."
MYTH 3
Carpet is outdated and boring.
FACT:
Carpets come in patterns ranging from traditional hounds tooth to exotic zebra, and in stylish colors like chocolate or mint green. Many consumers use a mix of carpet, hardwood and tile in their homes.
MYTH 4
Carpet emits harmful chemicals that cause health problems.
FACT:
Carpet is one of the lowest emitters of VOCs (volatile organic compounds) among househld furnishings and building materials. Shaw carpets meet the industry's highest VOC standard, the Carpet & Rug Institute's Green Label Plus program.
MYTH 5
Carpet is bad for the environment
FACT:
Floor manufacturers now provide many eco-friendly options for environmentally-conscious consumers. Shaw carpets made of Anso or EverTouch nylon can be recycled at Shaw's Evergreen Nylon Recycling Facility, where they are broken down and remade into new carpet fiber. The process helps turn carpet into a renewable product and keeps carpet waste out of landfills. In fact, Shaw has collected 178 million pounds of post-consumer carpet since 2006.
Election : Capital III Tile : Philadelphia Commercial Carpet Tile : Carpet Tile
Screen colors may vary from actual product due to differences in equipment. Please refer to physical samples before ordering. Need Help? 800-626-6936 Mon-Fri 8:30am - 6:00pm EST Sat 9:00am - 2:00pm » Full Story on expressfloors.com
Foreign Exchange Markets 2010 Part 3: Shaw Capital Management
PRLog (Press Release) – Sep 14, 2010 – The recent State of the Union message to Congress by President Obama included a request for the approval of a further fiscal stimulus package this year amounting to around $100 billion to help to tackle the unemployment problem, and he has also presented a $3.8 trillion budget for fiscal 2011 that is likely to maintain the overall deficit around the $1.35 trillion level expected this year.
Foreign Exchange Markets 2010 Part 3: Shaw Capital Management - Much will depend on the attitude of overseas holders, and especially on the attitude of the Chinese and Japanese authorities. For the present they seem to be prepared to maintain and even increase their dollar exposure; and if this continues, and the problems of other major currencies remain unresolved, it should be enough to allow the dollar to “improve”. The euro struggled to recover in the early part of January from the big fall that occurred in December; but the recovery did not last very long, and it has subsequently fallen sharply again, to leave it value against the dollar around 10% below the level in early- December.
There has been no significant change in the underlying economic background, although there is some evidence that the fragile recovery that was developing is losing some momentum.
Foreign Exchange Markets 2010 Part 3: Shaw Capital Management Korea - But there has been a serious deterioration in the financial background as the fears have increased that Greece and some other periphery countries in the euro-zone may be unable to fund their massive fiscal deficits, and service their sovereign debts. There is also considerable uncertainty about the intentions of the European Central Bank and the stronger countries if conditions continue to worsen, and so overseas holders have started to withdraw funds from the European capital markets to await developments.
The present lack of urgency at the central bank and amongst the key politicians suggests that this trend will continue, and that the euro will fall still further; but there is still some hope that the seriousness of the situation will finally produce a support operation that will ease the situation.
Shaw Capital Management News - All the available evidence continues to point to a slow, two-speed recovery in the euro-zone economy. Germany and France appear to be performing reasonably well, although there are some signs of slowdown in Germany; but Greece, Portugal, Spain, Ireland, and even Italy are struggling to escape from recession, and are expected to keep overall output in the euro-zone this year around the 1% level.
Shaw Capital Management News - There is also considerable uncertainty about the intentions of the European Central Bank and the stronger countries if conditions continue to worsen, and so overseas holders have started to withdraw funds from the European capital markets to await developments.
Retail sales remain depressed, and fell by 1.2% between October and November to reflect the continuing caution of consumers; and industrial orders in Germany rose by much less than expected in November, after a very disappointing result in October, to indicate some weakness in export prospects that had been expected to provide significant momentum to the economy.
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Shaw Capital Management, Korea - Investment Innovation & Excellence. We provide the information, insight and expertise that you need to make the right investment choices. Shaw Capital Management Korea typically offers its clients such services as asset allocation and portfolio design; traditional and non-traditional manager review and selection; portfolio implementation;
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ShawFloors.com - Carpets - Carpet Tile - Philadelphia Commercial
ShawFloors.com - Carpets - Carpet Tile - Philadelphia Commercial
http://www.shawfloors.com/carpet/Carpet_...
Shaw is the world's largest producer of carpets, with many styles of loops, patterns, textures, and twists. Explore our exclusive collections.
http://www.shawfloors.com/carpet/Carpet_...
Shaw is the world's largest producer of carpets, with many styles of loops, patterns, textures, and twists. Explore our exclusive collections.
Shaw Capital III Carpet Tiles|Discount Carpet Prices at Capri Carpet|Dalton, GA Direct To You
Capital III Carpet Tile DescriptionShaw Capital III Carpet Tile from Shaw's Philadelphia Commercial Line Level Loop/100% Solution Dyed Nylon Available in 24" X 24" tiles 20 oz. face weight 12 tiles per carton - 48 sq. ft per carton 34-36 lbs. per carton Manufacturer's Warranties10 year limited commercial stain Lifetime limited commercial Price$1.99 per sq. ft - $95.49 per carton Plus freight from Dalton, GA We are offering swatch samples on this product. Please request specific color samples you'd like to receive - limit 2. |
Shaw Capital III Carpet Tile Buy Shaw Capital III Carpet Tile Wholesale
Shaw offers the Capital III carpet tiles as their entry level Olefin Carpet Tile collection. These Shaw carpet tiles are made with Solution Dyed Olefin for ultimate stain resistance. All Shaw carpet tiles are 24" x 24" carpet squares. These carpet squares also feature the Shaw exclusive Ecoworx carpet tile backing. Shaw Capital III carpet tiles are an excellent option for the budget minded consumer.
Shaw Commercial Carpet Flooring Carpet At Wholesale Flooring Prices
Shaw Lynchburg 12 Width Carpet A 20oz. Commercial Carpet 100% Permacolor Poly 10 year quality assurance. $12.83yd. Cut pricing Free Shipping Pickup 32 Cities $11.57yd. Roll pricing 200 yard min.
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