LA PORTE, Texas, Oct. 22 /PRNewswire/ -- L. D. Wright, Chief Executive Officer of Bay Bancshares, Inc. (the "Company") (Nasdaq: BAYB), announced record earnings for the nine months ended September 30, 1998. Net income for the nine months ended September 30, 1998 was $1,869,000 compared with $1,235,000 for the nine months ended September 30, 1997, an increase of $634,000 or 51.34%. Per share (basic) earnings remained unchanged at $0.91 for the nine months ended September 30, 1998 and 1997 respectively. Per share (diluted) earnings increased $0.02 to $0.88 for the nine months ended September 30, 1998 from $0.86 for the same period ended September 30, 1997. Net income for the third quarter of 1998 was $618,000, an increase of $238,000 or 62.63% compared with $380,000 for the same period in 1997. Per share (basic) earnings increased $0.02 to $0.30 for the third quarter of 1998 from $0.28 for the same period in 1997. Per share (diluted) earnings increased $0.03 to $0.29 for the third quarter of 1998 from $0.26 for the same period in 1997.
Net income increased in the third quarter 1998, enhanced by a higher dollar amount of interest earning assets, continued margin improvements, fees generated by the Mortgage Lending Department and gains on the sale of SBA loans. The increase was supplemented through the elimination of acquisition and conversion related expenses following the full integration of the 1997 acquisitions and the completion of the Y2K compliant mainframe and communication system conversions.
On June 30, 1998 the Company announced that the Board of Directors approved the repurchase of up to $500,000 of Company common stock. As of October 21, 1998 the Company, using excess funds has repurchased 13,500 shares of common stock in the open market in two separate trades at a total cost of $187,000.
Even though one-time conversion related costs were incurred and expensed in the first half of 1998, operational expenses have increased and will affect future periods as a result of these major technology investments. However, the capabilities provided by these investments position the Company not only for future expansion but also to begin offering state-of- the art customer products that facilitate the ability to capitalize on technological efficiencies and generate internal growth. Working towards a paper-less environment, the Company rolled out imaged statements on all retail and commercial customer accounts during the third quarter, 1998. Additionally, the Company began offering Internet banking for retail customers enabling account access and automated bill paying. For commercial customers, the Company introduced cash management capabilities that include both Internet account access and an automated sweep investment product.
Volumes in the Mortgage Lending Department continue to grow as a result of the decline in mortgage lending rates and the increased sales emphasis on generating new loans. As the Company immediately sells the loans, subsequent fee income and the profitability of the department continues to improve. Fee income generated year to date is $190,000 and generated quarter to date is $76,000.
With start up costs expensed during the first half of 1998, the affiliation with Bayshore Insurance Agency ("BIA") has generated a small level of fee income for the Company. Existing customer referrals, continued sales development and other new business production efforts should provide for increasing levels of fee income as BIA continues to grow.
Total assets as of September 30, 1998 were $274,341,000 compared with $187,102,000 at September 30, 1997 an increase of $87,239,000 or 46.63%. At September 30, 1998, investment securities totaled $69,249,000, an increase of $26,747,000 or 62.93% from $42,502,000 at September 30, 1997. Net loans were $165,095,000 at September 30, 1998, an increase of $50,444,000 or 44.00% from $114,651,000 at September 30, 1997. At September 30, 1998, deposits totaled $242,733,000, an increase of $71,442,000 or 41.71% from $171,291,000 at September 30, 1997. The net interest margin increased 52 basis points to 5.03% for the nine months ended September 30, 1998 from 4.51% for the same period ended September 30, 1997. Third quarter balance sheet growth was attributable primarily to the 1997 Acquisitions and internal growth.
Bay Bancshares, Inc. is a bank holding company headquartered in La Porte, Texas, which is located in eastern Harris County, the county that comprises most of the greater Houston metropolitan area. Bayshore National Bank, the Company's flagship, currently has ten full-service locations and three loan production offices. The market area of the Company extends from Seabrook, Texas in eastern Harris County to Cleveland, Texas in western Liberty County. Commenting on third quarter results, L. D. Wright, Chief Executive Officer states, "With our new products and technological infrastructure in place and the conversions behind us, we have instigated a vigorous calling effort focused on new customer development and our business strategy of becoming the premier financial services institution in the greater southeast Houston metroplex. Our efforts are concentrated on enhancing shareholder value through profitable balance sheet growth."
For someone who once said money has no interest to him, former British politician Derek Hatton has completed a surprising U-turn in life and become a multi-millionaire property magnate. This is the very same Derek Hatton who became the voice of the working classes while battling with British Prime Minister Margaret Thatcher throughout the 1980s while a leading member of Militant Tendency and former deputy leader of Liverpool City Council. The firebrand Marxist left his political life behind more than 20 years ago and now devotes his time to buying, developing and selling property in Cyprus. His former 1920s semi-detached home in Liverpool has now been replaced by a dhs6 million luxury villa on the Mediterranean island and a luxury apartment in Cheshire, England. Hatton, in Dubai to catch up with an old friend, told 7DAYS of his remarkable transformation in life and of his current booming property business. "I finished in politics in 1987. The Labour Party was changing, the world was changing and I was changing. It was clear there was no room for me in politics and I had no desire for what it involved anymore," Hatton said. He has successfully tried his hand at a number of ventures including modelling, radio host and after-dinner speaker. With his son he set up a highly lucrative web site that he sold a few years ago to a newspaper company in the UK for dhs30 million. The proceeds have now been used to fund his property company Morpheus Investments, selling luxury apartments, villas and penthouses to expats from across the world. He said: "Dubai's property market has become over-heated and we're getting a lot of expats now turning towards Cyprus as a place to invest in. I'm looking at Dubai to see if there may be any opportunities left out here, but it seems like a lot of money is heading back towards Europe now. "We have expats from all over buying property in Cyprus including Russians, South Africans and British. Like Dubai we have year-round sunshine, less than ten per cent tax, great golfing and a fantastic way of life. Many people who have never visited are still investing there. Obviously the global credit crisis has affected us and slowed things down, but prices are still rising and there is no indication that property prices in Cyprus will be hit like in other places of the world. "Mortgages can still be secured with a 15 per cent deposit of the purchase price." Splitting his year between Cyprus and the UK, he has little time left over to base himself in the UAE. "I first came here 15 years ago and was amazed then by the city. Obviously it's changed enormously. You keep looking up at the buildings. It's just got something about it. I don't want to miss any opportunity, so things could happen in Dubai in the future, but right now I'm very confident in the long-term success of Cyprus." The 61-year-old has never been shy of speaking his mind as anyone involved in politics in the UK during the 1980s will testify. So has age mellowed the former revolutionary? Asked to elaborate on his recent and somewhat unflattering comments concerning Margaret Thatcher - he simply replied "there's nothing to comment on there, let's talk about Cyprus and investments." It's property not politics now for Derek Hatton, after all "time changes everyone" he says. For more information see morpheusinvestments.com
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LOS ALAMOS, New Mexico -- The following information was released by Los Alamos National Laboratory:
Los Alamos National Laboratory work crews over the weekend installed 600 feet of water diversion barriers and removed more than 1,200 cubic yards of sediment in anticipation of flash flooding because of damage from the Las Conchas Fire.
It's the first phase of additional work to help stabilize canyons that run through LANL property and minimize the ability of flood waters to stir up trace levels of Cold War-era contaminants in canyon bottoms.
Although the fire burned only one acre of Lab property, it charred parts of two major canyons upstream. The lack of vegetation and a water-repelling crust on the burned areas could allow storm water to rush down-canyon instead of soak in.
"There is little doubt that we will see ash in the water reaching the Rio Grande," said Dave McInroy, program director for the Lab's flood and erosion control efforts. "This is what you'd expect after any fire in New Mexico. We're working to minimize the transport of any contaminants that have attached to sediments in the canyon bottoms."
The Lab also planned for quick turnarounds on results from dozens of storm water sampling stations-results that will then be posted to RACER, a publicly available Internet database of environmental data from LANL and the New Mexico Environment Department.
Also over the weekend, the Lab:
Removed 65 containers of waste soils and debris from environmental investigation sites in canyon bottoms
Removed tanks containing more than 5,000 gallons of water from drilling operations associated with monitoring wells
Placed concrete barriers to divert water from sediment collection ponds at the bottom of Los Alamos Canyon
Sealed wells in canyon bottoms to prevent flood waters from leaking into the wells
Added storm water samplers along the Lab's eastern boundary.
"This is our highest priority right now," said Kevin Smith, manager of the National Nuclear Security Administration's Los Alamos Site Office. "We had employees work through the weekend and the Lab has finished this first phase three days sooner than expected."
The recent actions come in addition to hundreds of projects and actions since the 2000 Cerro Grande fire, including the massive Pajarito flood control structure, earth berms, rock dams, and a wetland stabilized by thousands of new willows. All are aimed at protecting the environment and inhibiting the flow of sediments down-canyon.
Three key LANL storm water gauges that support Santa Fe's public water utility suffered no damage in the fire. The gauges connect wirelessly to the utility's control room, allowing operators to stop diverting Rio Grande water if they choose. The gauges also take water samples at preset intervals during a flood.
Investigation or cleanup of Cold War-era waste sites is taking place under the Consent Order, a 2005 agreement between the Department of Energy, LANL, and the state of New Mexico. Of more than 2,100 sites in existence in 2005, about 800 remain, ranging in size from a small, suspected fuel spill to multi-acre landfills. None of the large sites are in canyon bottoms.
About Los Alamos National Laboratory
Los Alamos National Laboratory, a multidisciplinary research institution engaged in strategic science on behalf of national security, is operated by Los Alamos National Security, LLC, a team composed of Bechtel National, the University of California, The Babcock and Wilcox Company, and URS for the Department of Energy's National Nuclear Security Administration.
Los Alamos enhances national security by ensuring the safety and reliability of the U.S. nuclear stockpile, developing technologies to reduce threats from weapons of mass destruction, and solving problems related to energy, environment, infrastructure, health, and global security concerns.
LANL news media contact: Fred deSousa, (505) 665-3430, fdesousa@lanl.gov
CORPORATE IT UPDATE-(C)1995-2011 M2 COMMUNICATIONS
20 June 2011 - SNS Securities said today it was not surprised with the five-year contract extension between Dutch IT company Docdata NV (AMS:DOCD) and online retailer Bol.com.
It would be difficult for Bol.com to change its Internet services supplier, analyst Martijn den Drijver said, adding that Bol.com is probably Docdata's biggest customer.
The mutual dependence means that Bol.com has possibly managed to agree concessions with Docdata in the form of lower prices per transaction, according to Den Drijver.
In addition, the construction of Docdata's new logistic centre is facing delay, Den Drijver said, pointing to the previously announced deadline for the end of the year.
Docdata said today that the centre is expected to start operating in the second quarter of 2012.
The delay will have no material consequences as the activities are successfully managed from the company's existing centre, the analyst said.
Den Drijver maintained his "buy" recommendation for Docdata, whose shares gained 1.46% to EUR11.14 by 10:00 CET in Amsterdam on Monday.
((Comments on this story may be sent to info@m2.com)).END.PUB430>PDJune 20, 2011>JNCORPORATE IT UPDATE.PRICEDATENOT APPLICABLE.DAY
Byline: Beth Bierbower
Benefits administrators have an important role in informing employees of coverage offerings and how multiple benefits can work together. But oftentimes, especially in these days of employer cutbacks and cost-saving measures, that role falls to the employee benefit broker or adviser.
Administrators must be "in the know" on overall trends and new resources, including communications tools that may help them clearly explain benefits values during conversations with employees.
If administrators don't fully explore all available benefits education tools, then employees are more likely to make uninformed coverage decisions for themselves and their families. In fact, almost 90 million Americans - 39% of adults - are limited in their abilities to read and understand health information, according to the National Adult Literacy Survey.
Benefits education, through clear communication, is a simple step toward effective benefits selection, lower costs and employee satisfaction.
Before administrators participate actively in benefits conversations with employees, they should have an understanding of how their workforce likes to receive communication. For example, are company employees on-the-go and in need of electronic information? Would the workforce appreciate benefits podcasts they could listen to at home with their families? It is also important for administrators to be aware of the tools that can help educate them and, in turn, they can share the necessary resources with employees to effectively guide communication.
Online tools
There is a variety of online tools and websites dedicated to educating administrators, such as Stay Smart | Stay Healthy, a Humana-sponsored website, which offers a suite of "e-tools" (mostly videos) that creatively explain benefits coverage provided by Humana plans. For example, one video explains the value of voluntary benefits and the potential cost savings it provides for employees and employers alike. Another video provides tips to help people save money on health care costs by choosing in-network doctors, paying for premiums with pre-tax deductions, considering generic prescriptions and more.
For administrators and employees, these videos help educate and improve health care literacy. If Americans had a better understanding of health, we could save the U.S. health care system $106 to $203 billion annually in literacy-related expenses, according to research from the Center for Health Care Strategies.
When administrators are informed of benefits changes, current offerings and how their employees want the information, it is time to start the conversations. Social media, often thought of as an external channel, can be an effective internal channel, too.
Four out of five adults who are online use social media, according to data from Forrester Research. Forrester also found that 35% of adults online use social media to look for information about their health and related issues. The two-way platform is ideal for benefits questions and answers between administrators and employees.
Because health benefits are a personal matter, tapping internal social media resources lets employees ask questions and share concerns with administrators in a comfortable, conversational way. This builds a trusting relationship between both parties and lets employees know there is a person to whom they can turn for advice.
To make the most of this new way of engaging with employees, administrators should consider starting a blog or online forum. They should let employees know about these new available resources and allow employees to drive content on their own.
In addition to an online forum, employees still benefit from in-person discussions, especially when they are personal one-to-one conversations. Humana has found this to be true with our own employees through our More Options and Choices for Humana Associates (MOCHA) Mentor program. "MOCHA Mentors" is a service provided by volunteer employees who help other employees navigate the annual open enrollment period and even help explain voluntary benefits.
On the go
Perhaps the fastest growing communications channel for administrators to consider is mobile Internet. When people aren't talking on their smart phones, they're using them to post updates on Facebook or Twitter and to text their friends. Mobile Internet, for the sake of benefits, allows employees to have on-the-go access to coverage information, care providers, claims processing and more. People now expect all information to be available at their fingertips, and insurance companies are taking notice.
For example, MyHumana, a health and benefits management app, allows members to access personalized health insurance information anywhere, anytime. The app has been well received by employee members and it was recently honored with an "Appy Award" by MediaPost.com as the "Best Medical App in 2011." MyHumana provides personalized plan information for members so that they can understand the coverage they already have and how they have been using their benefits. In turn, this helps them make more informed health choices in the future.
Simplify the message
Benefits communications and enrollment have come a long way in a relatively short time. Companies used to explain health benefits through complex brochures and other types of traditional media filled with industry jargon and "legalese." Unfamiliar language is one of the main reasons employees fail to understand their health coverage.
Consumers today increasingly are filtering out complex messages in favor of clearer, more relevant ones delivered through new, engaging communication channels. It's helping to educate consumers on the health care system by removing complexities and replacing them with transparent, clear communication.
New communications channels are also assisting administrators by helping to educate them on employee needs and benefits offerings. Administrators, in turn, provide added value to employees while also helping to lower company costs through voluntary benefits enrollment. Ultimately, these evolving communication channels are creating a more personalized care system and happier workforce because employees understand which benefits to select for their needs.
Bierbower is chief operating officer for Humana Specialty Benefits which includes dental, vision, life, disability and worksite voluntary benefits.
Working with EDIs
In high school, I remember sitting for hours typing documents on printing shells for my school's Ditto machine. A decade later, armed with my expert office skills, I was processing enrollment forms by hand. Years passed, and I started keying enrollments into vendor online systems. Then came the loadable CSV or Excel spreadsheet for open enrollment sent directly to a carrier.
This century is very different. We've developed online benefit portals and with only a few keystrokes, a complete file is sent on an electronic data interface (EDI).
Over the past year, I've been knee-deep in EDIs. I've learned that everything is not always as it seems. Interface files were designed to speed up delivery, automate enrollment changes and streamline communications between the provider and customer. But if you're not paying close attention to what is being sent, or what is being processed on the other side, disaster strikes. In many cases, providers do not deliver processing reports, but rather, the client is expected to log into a website and grab reports. If these reports aren't monitored, and errors aren't corrected, it could mean dollars down the drain.
Employers don't want to deal with COBRA penalties, terminated members left on a plan or unhappy new hires who don't get their enrollment cards on time. But if you ignore any of your benefit EDI processes, that's exactly what you'll get. Let's say an employee moves from full-time to part-time and loses benefits. A loss in coverage results in an opportunity for COBRA. Our system tends to be testy at times - if information isn't entered just right, they won't show up on the feed, and that's a problem for me. Likewise, I have to make sure our COBRA provider has their system rules set up correctly. If I have end-of-the-month coverage and they send notices out with the wrong dates, the result is a whole lot of grumpy ex-employees.
Breakfast used to be about Froot Loops. Now, it's fresh coffee and analyzing loops of data. I know more about 834 file types, FTP gates and file encryption than I ever intended to. My days are filled with audits, data sampling, test scenarios and I now know the VLookup Excel function like the back of my hand.
- Karrie Andes, SPHR, senior benefits manager for PGi in Kansas City, Mo.
Byline: LIZ ROLFSMEIER
Special to the Star Tribune
"Crush that one, slugger!" yells James Anderson of Woodbury over the music at Eagan Civic Arena.
But even if his teammate hits a lazy foul ball, no matter. In arena softball -- there's really no such thing as a bad hit.
"We'll tell them just swing at every one," said facilities manager Mark Vaughan. "You can be a terrible softball player. Just foul tip it and you can still get on base."
The sport, which has quickly gained popularity since Eagan introduced it locally in 2008, is a faster, more aerobic, and certainly more offbeat version of its outdoor cousin.
A few days after they take the hockey ice out, the Eagan Ice Arena crew rolls out artificial turf and curtains off the rink area down the center line, creating two small ball fields enclosed by hockey boards and lacrosse netting.
"There's really no outfield. It's all infield," said Paul Bailey, a player from Apple Valley, who calls the game a cross between baseball and racquetball.
Balls put into play will ricochet off nets, curtains and walls and spin out into the field in unexpected ways, keeping players fully engaged, intent on the action, and always running.
"It's quick, but it keeps your reflexes going, which is nice," said Anderson. "Regular softball is a little too slow. I quit playing regular."
Novel rules
The rules of arena softball stray considerably from the traditional game:
- Each team gets 16 pitches per inning (games last four innings), so players shuttle in and out of the dugout, batting about twice as often as in outdoor games.
- Teams can score on defense, too, gaining a half run for every out.
- Two strikes result in an out, as do fly balls caught in the air off the netting.
- The batting side gets a half run for every walk.
All that can add up to some big scores. "Scores will be like 56 to 30," Vaughan said.
Plenty of action
"More at-bats is good. Knock all the rust off the swing," said Jeff Becker of Farmington, a member of a team called the Blind Squirrels. "I like it. It's fun. It's fast."
Fast, and slightly dangerous.
Joe Neely of Woodbury pulls up his pant leg, revealing a red welt on his calf from a stray ball. "It's fun. I'm just not used to it," he said, grinning. "I'll tough it out."
Becker's advice to new players: "Wear a cup."
As players hustle, umps walk around with headsets, constantly fiddling with an iPod touch that updates the scoreboard, yelling "Live ball" in a continuous refrain, and generally trying to stay out of the way.
"We can't get traditional umpires in here," Vaughan said. "It's too wacky."
Batters can aim for the instant home run squares -- small black tarps in the corners of the curtain -- but in general, "the superstar gets taken away," said Vaughan.
"I'm a power hitter. I'm worthless here," sighed Sean Callander of Lakeville. "[Hitting] slow bloopers is what gets you on base."
He considers it training for summer ball. "We're here to have fun and get in shape," he said. "It doesn't count for anything. Next season counts."
Spreading fast
Greg Joseph of Roseville, Calif., who started the sport with a partner there in 2002, has bigger goals. Now 100 teams play in their California arena, and they just opened a new facility in Colorado. They also plan to expand the sport into the Pacific Northwest. He would like to see it go national.
"We've grown the sport so much that we've had to turn people away," Vaughan said. They added an extra night this year to accommodate extra teams.
Vaughan also hopes to start live-streaming arena softball games on the Internet.
He said the scoreboard/website technology has been so popular that he hopes to start using something similar for hockey.
"They are requesting the same thing," he said. "They want stats, and they want it live."
Liz Rolfsmeier is a Minneapolis freelance writer.
Attention to every detail, delivering outstanding guest service, a great location and desirable amenities has resulted in the Floridays Resort Orlando being tapped as the Number One Resort in Orlando, as rated by travelers on TripAdvisor[R].
Guests continually praise the outstanding service, the spacious 2- and 3-bedroom suites, and the like-new condition of the resort in their reviews. Guests like the convenience of the scheduled theme park shuttles, the kid-friendly play areas of the large pool and the flexibility of the Palm Cafe and Marketplace.
Since opening in May of 2006, this 432-room, all-suite, condo-style resort on International Drive, near Lake Buena Vista, has consistently been recognized in TripAdvisor's top 5 of 340 Orlando hotels. According to General Manager, Rod O'Connor, "It wasn't enough to just be in the top 5. We knew we had to deliver exceptional service to our guests, from the moment they place their reservation until they leave us to go home. Every department stays focused on ensuring an outstanding guest experience, every moment of every day. The result is outstanding praise on TripAdvisor and return guests."
The resort not only delivers an outstanding vacation product, but is recognized as an exceptional value. A family of 6 can comfortably stay in a 2-bedroom Grand Suite for as little as $125/night, depending on the season and special offers. And that suite configuration offers the family the flexibility of a full kitchen, allowing them to eat in for certain meals. This saves them the cost of having to eat every meal in a restaurant.
Floridays Resort Orlando enhanced its amenities by adding wireless internet access throughout the resort, no longer requiring a wired connection.
Floridays Resort Orlando is managed by Paramount Hospitality Management, LLC, a full-service management organization for hotels, resorts, condo-hotels, vacation ownership and a combination of mixed-use. Its Executive Team consists of Hospitality Industry veterans with more than 150 years of combined hotel and resort management experience. Their cohesive skills and expertise in operations, revenue management and marketing were acquired during years of respective tenure at some of the most prestigious and recognized brands in the business.
For more information about Floridays Resort Orlando or Paramount Hospitality Management visit http://www.FloridaysResortOrlando.com, call the Reservations office at 866-994-6321, contact Rod O'Connor, General Manager, at 321-329-4020, or contact Marco Manzie at 321-329-4054 or visit http://www.ParamountHospitality.com.
Keywords: Advertising, Floridays Resort Orlando, Marketing, Networks, Wireless Internet, Wireless Technology.
This article was prepared by Telecommunications Weekly editors from staff and other reports. Copyright 2011, Telecommunications Weekly via VerticalNews.com.
GRAB THE VIDEO CAMERA! Community banks are jumping into video marketing in a big way.
In the past, video was limited to television advertising--which many community bank marketers were reluctant to do because of the cost and unfamiliarity of the medium. But today's surge of video interest is not for broadcast or cable TV. It's mostly for online viewing.
To produce these videos, some marketers are doing the shooting themselves. Others are hiring outside agencies, Some are purchasing packaged videos that can be customized for individual banks.
Many videos are being posted on the bank's own Web site. Others are linked to e-mails as part of online marketing campaigns. Others are placed on Internet sites such as YouTube.
Advertising new products or services is just one of the many uses of these videos. Banks are employing them to inform or educate their customers and prospects about financial issues. Some are deploying them as promotional backgrounders to acquaint customers with the bank's history and employees. A few banks, for example, are regularly videoing their president or CEO talking about the institution's safety and soundness or its quarterly earnings.
"Video on the Internet has proved to be a wonderful way for us to communicate with our customers," says Jan Knock, vice president of marketing at Iowa State Savings Bank (assets: $180 million), Creston, Iowa. "The media may be new, but we are delivering essentially the same message we did before."
ABA Bank Marketing magazine talked with a sample of five community bank marketers from around the country to learn how they are using online video and to hear what problems or benefits they see with the medium.
Their stories follow below.
Go Daddy is expanding its global presence after the company announced a new European data center located in the Netherlands.
The company said the new data center is designed to bring Go Daddy services closer to European Internet users, providing even faster access to their hosted Web sites.
The data center is expected to grow the company's expanding European customer base by providing Go Daddy's brand of Web hosting.
"No one will take better care of our customers than we will - no one," said Go Daddy CEO and Founder Bob Parsons. "By spending the money up front and not outsourcing operations, we control key factors like uptime, security and speed."
European customers serviced by the new data center will be able to have their Web sites served faster to European visitors, based on the distance the data is travelling. The data center is backed up by Go Daddy's well-known reliability and support. The company is planning to include Web-based email and virtual dedicated servers in the near future.
More Information:
www.GoDaddy.com/Hosting
www.GoDaddy.com
((Comments on this story may be sent to newsdesk@closeupmedia.com))
LONDON, November 18 /PRNewswire-FirstCall/ -- Tata Communications, a leading provider of the new world of communications, was honored with the "Best Market Strategy" award at the Annual Capacity magazine Global Wholesale Telecommunications Awards in Amsterdam. The awards, held at Capacity Europe 2008, recognize significant key market players who, through applying innovation and successful techniques and strategies to their wholesale businesses, have established themselves as leaders in the global wholesale telecoms industry.
"Tata Communications is thrilled to be recognized once again among our peers by the Capacity organization for our efforts in the telecommunications industry," said Michel Guyot, President, Global Voice Solutions for Tata Communications. "The award for 'Best Market Strategy' exemplifies our continued commitment to offering the most innovative wholesale solutions and superior network reach to our customers doing business in rapidly growing markets around the world."
Capacity, a respected trade magazine for telecommunications carriers and service providers, awarded Tata Communications with this honor based on the company's demonstrated thought leadership in the development and implementation of its wholesale strategy. Capacity previously named Tata Communications with 'Best Pan-Asian Wholesale Provider' award in 2006 and 2007.
The panel of judges, which included Mark Kemp, CEO, Matthew Whalley, Editor of Capacity magazine as well as Dr. Judy Reed Smith, Founder & CEO, ATLANTIC-ACM, created this award specifically to recognize Tata Communications global strategy in the telecommunications market.
"Throughout 2008, Tata Communications' partnership and acquisition strategy has allowed the company to grow its reach and influence across an international footprint," said Matthew Whalley. "Tata Communications has invested in the development of its business while implementing an international strategy that has reaffirmed its place as an elite global carrier."
In 2008, Tata Communications has focused on increasing its presence, service offering and network reach in emerging markets around the world. Earlier this year the company announced a joint venture subject to fulfillment of conditions precedent, a 50% ownership in China Enterprise Communications (CEC) providing full country VPN coverage in China and acquired a majority stake in NEOTEL, the second national operator of South Africa.
For more information visit http://www.tatacommunications.com/ About Tata Communications
Tata Communications, a member of the $62.5 billion Tata Group, is a leading global provider of a new world of communications. The emerging markets communications leader leverages its advanced solutions capabilities and domain expertise across its global and pan-India network to deliver managed solutions to multi-national and Indian enterprises, service providers and Indian consumers.
Tata Communications' range of services include transmission, IP, converged voice, mobility, managed network connectivity, hosting and storage, managed security, managed collaboration and business transformation for global enterprises and service providers, as well as Internet, retail broadband and content services for Indian consumers. The Tata Global Network encompasses one of the most advanced and largest submarine cable networks, a Tier-1 IP network, with connectivity to more than 200 countries across 300 Pops, and more than 1 million square feet of data center and co-location facilities.
Tata Communications' unique emerging market depth and breadth of reach includes a national fiber backbone network and access to network in over 60 cities and 125 Pops in India, strategic investments in South African converged services operator, Neotel, Sri Lanka and Nepal and, subject to fulfillment of conditions precedent, a 50% ownership in China Enterprise Communications (CEC) providing full country VPN coverage in China.
Servicing customers from its offices in over 80 cities in 40 countries, Tata Communications is the number one global international wholesale voice operator and number one provider of international long distance, enterprise data and Internet services in India, the Company was named "Best Wholesale Carrier" at the World Communications Awards in 2006, "Best Pan-Asian Wholesale Provider" at the 2006 and 2007 Capacity Magazine Global Wholesale Telecommunications Awards and was awarded "Best Progress in Emerging Markets" at the 2008 Mobile Communication Awards.
Tata Communications Limited along with its global subsidiaries, (Tata Communications), is listed on the Bombay Stock Exchange and the National Stock Exchange of India and its ADRs are listed on the New York Stock Exchange.
Forward-looking and cautionary statements
Certain words and statements in this release concerning Tata Communications and its prospects, and other statements, including those relating to Tata Communications' expected financial position, business strategy, the future development of Tata Communications' operations, and the general economy in India, are forward-looking statements. Such statements involve known and unknown risks, uncertainties and other factors, including financial, regulatory and environmental, as well as those relating to industry growth and trend projections, which may cause actual results, performance or achievements of Tata Communications, or industry results, to differ materially from those expressed or implied by such forward-looking statements. The important factors that could cause actual results, performance or achievements to differ materially from such forward-looking statements include, among others, failure to increase the volume of traffic on Tata Communications' network; failure to develop new products and services that meet customer demands and generate acceptable margins; failure to successfully complete commercial testing of new technology and information systems to support new products and services, including voice transmission services; failure to stabilize or reduce the rate of price compression on certain of the company's communications services; failure to integrate strategic acquisitions and changes in government policies or regulations of India and, in particular, changes relating to the administration of Tata Communications' industry; and, in general, the economic, business and credit conditions in India. Additional factors that could cause actual results, performance or achievements to differ materially from such forward-looking statements, many of which are not in Tata Communications' control, include, but are not limited to, those risk factors discussed in Tata Communications' various filings with the United States Securities and Exchange Commission. These filings are available at http://www.sec.gov. Tata Communications is under no obligation to, and expressly disclaims any obligation to, updates or alters its forward-looking statements.
Media Contacts: Isabelle Thellen +1-514-588-3685 isabelle.turcotte@tatacommunications.com Janice Goveas Tata Communications +91-92233-94575 janice.goveas@tatacommunications.com Kristen Massaro STC Associates +1-212-725-1900 x204 kristen@stcassociates.com
CONTACT: Media Contacts: Isabelle Thellen, +1-514-588-3685, isabelle.turcotte@tatacommunications.com; Janice Goveas, Tata Communications, +91-92233-94575, janice.goveas@tatacommunications.com; Kristen Massaro, STC Associates, +1-212-725-1900 x204, kristen@stcassociates.com
If you have financial questions, PBNB has the answers live.
Pine Bluff National Bank in Arkansas used that slogan in newspaper ads and targeted marketing material last spring to let customers know they can now chat with bank representatives via instant messaging.
This technology, Medianet Secure Communicator, is part of a larger communications initiative that the bank adopted to meet the challenge of providing more immediate, convenient services to a wide range of customers from computer-savvy youths to the hearing impaired.
PBNB, which has $307 million of assets and eight branches, was the first and, it believes, still the only bank in southeastern Arkansas to offer instant Web-based communications, putting it on a par with some of the largest financial services companies.
More than six months since its inception in April, the initiatives results are positive. The customers I have chatted with online seem to really like the product, said Carol Ann Rogers, PBNBs vice president of operations.
Instant messaging and other means of Web communications give customers an additional way to communicate with the small but growing number of banks that offer it in addition to call centers and more traditional means.
It should not be used as a wholesale replacement for other communications vehicles like the call center. It should be an additional avenue, said Edward Woods, a senior analyst at Celent LLC, a Boston research firm.
That is exactly how PBNB uses the communications service.
We decided it would be an extra, added feature to the communications means we already have, said Allison Brown, a PBNB operations officer.
The bank was not in the market for a Web-based communicator when it got an offer last year from its Internet provider, FundsXpress, to buy Medianet Secure Communicator. (Neither company would disclose the price; PBNB said there was a one-time installation fee and that it pays monthly use charges.)
The Arkansas bank decided to try it, in part, to differentiate its services. We wanted to be the first bank in our area to offer it because it is going to be something that is going to be demanded by more and more customers, said Vickey Warriner, PBNBs vice president of marketing.
Though the bank still takes most questions over the phone, the communicator gives it more ways to interact with customers.
In addition to no-download instant messaging, the service includes call routing; co-browsing; and document, application, and desktop sharing, as well as internal conference call capabilities.
A lot of our customers have only one phone line, so if they are banking online using a dial-up service, they arent able to call the bank with questions. With the communicator, they can look at their account history and send a message with questions, Ms. Rogers said.
The service has also helped streamline the process of providing targeted answers.
There are certain parts of the bank Web site where they can click on and it will take them directly to the department that can answer their question, Ms. Rogers said. That eliminates them calling the switchboard and being transferred several times to reach the correct person.
The most interactive features of the communicator are co-browsing and desktop sharing. For instance, with the permission of a customer who is having difficulty filling out an application or finding a document on the bank Web site, a bank employee can take control of the cursor on that persons computer to browse the Web site and documents and help find what he or she was looking for or help complete the task.
If a customer is on our Web site and cant, for example, find a loan application, I can send them a message and ask them to accept me to share their desktop. Then I can take over the cursor and show them where to go, said Ms. Brown, the operations officer. We can look at what they are looking at at the same time.
Once the application is found, the bank can continue to help the customer fill it out online by immediately answering questions that can trip up potential customers, such as: Does annual income include bonuses?
It addresses needs faster than over the phone and doesnt allow concerns to fester and frustrate customers, said Mr. Woods, the Celent analyst.
Web communicators have interactive options PBNB does not offer, though some financial services companies do.
Banks can use it in thoughtful ways to sell products and be proactive in supporting customers, he remarked. It can help customers complete processes that they may have just walked away from before.
During account-opening at some banks, for example, if the new customer is on a Web site page for a long period, a dialogue box pops up to ask, Can I help you find something?
Its a way for banks to be more proactive in approaching their customers, said Christine Barry, a research director at Aite Group.
Many communicators let banks be proactive if a customer is having difficulty logging on to his account. Instead of automatically blocking access after a customer fails three times to log on, Web communicators can be programmed to launch a chat dialogue box after two failed attempts, offering to give help.
The number of banks that use instant messaging as a customer communications channel is small but growing, according to analysts who track bank technology.
Online chat has been around for quite a few years, but it hasnt been widely embraced by financial services companies, said Penny Gillespie, the president of the Centreville, Va., consulting firm Gillespie International.
Ms. Barry said that fewer than 10% of banks chat online with customers. Its still a small percentage that use it, but there are a lot more banks thinking about doing so, she said. Ive been starting to see it, though, more and more over the last year.
Mr. Woods predicted that customers will begin to demand instant messaging. There will be a growing expectation by certain consumer demographics to want it to be there, he said.
It is not just young customers that use PBNBs Web communicator, but a range of users, from those who have difficulty hearing to parents with young children screaming in the background.
If you cant hear, you can type, said Joey Gieringer, PBNBs information technology officer.
The bank started implementation on Jan. 15 and went live on April 25. Its first step was creating an index page on the bank Web site, listing the departments that could receive instant messages. Then PBNB downloaded software forwarded by FundsXpress and loaded it onto computers designated for instant messaging.
The bank has 10 people in 10 areas who respond to customer messages. The departments include ATM, personal and business banking, lending, wealth management, online banking insurance, and bookkeeping.
PBNBs communicator, made by Medianet Innovations in Greensboro, N.C., is hosted and monitored by FundsXpress. Installation and implementation went fine. That was the surprise, Mr. Gieringer said. With new technology, there are usually more problems with installation, getting certain things to work and training people to use it. He said the system is intuitive, so only minimal training was needed.
Mr. Woods said that, though instant messaging technology is simple to implement, it can be difficult for banks to train employees to use it effectively. Its one thing to take a phone call. Its another to be able to write well and write quickly.
However, Ms. Brown, the operations officer, said this has not been a problem at PBNB. I agree that there is more room for error when typing, (but) the staff that use the product were carefully chosen and have a strong, knowledgeable background about the department they work for.
A more general limitation with online chat, analysts say, is miscommunication particularly when a question is complicated.
You have to ask the question correctly in order to get the right answer, which sometimes is a challenge. Sometimes it takes oral dialogue to get to that, Ms. Gillespie said. Instant messaging is certainly very viable for easily answered questions, she said, but as things get more complicated, I think people might be more comfortable with dialogue over the phone.
Shortly after PBNB launched the system and marketing campaign, it had up to 50 online calls a week. Ms. Brown said. Now we dont get as many as we once did, which is why we need to advertise it again, she said.
Still, the system has reduced phone calls to PBNB by about 10%, and the bank expected call volume to be down 30% by yearend as customers became more familiar with the service.
It also lets bank employees multitask. A good customer service representative can have multiple conversations going on at the same time online, but you cant have multiple phone conversations going on at the same time, Ms. Gillespie said.
PBNB does not see the communicator as a way to trim its spending, however.
It does streamline the calls, but its not cost-effective or ineffective. Its more of a convenience, Ms. Brown said. This is crucial to overall staff productivity because PBNB does not have dedicated call-center employees; its workers take questions as part of their range of duties.
And customers can direct instant messages to a chosen bank employee.
We try to focus more on relationship banking, so we dont feel we want to have a designated person to answer questions all across the board. Our customers generally feel more comfortable with someone they deal with on a regular basis, Ms. Warriner said.
The Medianet Secure Communicator that PBNB uses is designed to meet the stringent requirements of financial services companies. Ms. Brown said the bank did not have any security concerns when it decided to introduce the product and is very satisfied thus far on this count.
The architecture is designed to have many layers a communication has to go through, said Julie Nance, managing director for the United States at Medianet Innovations, which designed the communicator four years ago.
Ms. Heller, an American Banker reporter from 2000 through 2005, is a freelance writer in Washington.
(c) 2007 American Banker and SourceMedia, Inc. All Rights Reserved. http://www.americanbanker.com/ http://www.sourcemedia.com/
AGOURA HILLS, Calif., June 2 /PRNewswire-FirstCall/ -- THQ Inc. today announced that Brian Farrell, THQ's President and Chief Executive Officer, will make a presentation to investors at the 26th Annual Piper Jaffray Consumer Conference on Tuesday, June 6, 2006, at The New York Palace Hotel in New York, New York.
(Logo: http://www.newscom.com/cgi-bin/prnh/20041118/LATH093LOGO)
The presentation is scheduled to start at 9:00 a.m. (Eastern Daylight Time) and will be open to all interested investors through a live audio Web broadcast via the Internet on the Investor Relations Event Calendar page of THQ's website located at http://www.thq.com/. An archived replay will also be available on the company's website approximately 24 hours following the live broadcast.
THQ Inc. is a leading worldwide developer and publisher of interactive entertainment software. Headquartered in Los Angeles County, California, THQ sells product through its global network of offices located throughout North America, Europe and Asia Pacific. More information about THQ and its products may be found at http://www.thq.com/ and http://www.thqwireless.com/. THQ, THQ Wireless, and their respective logos are trademarks and/or registered trademarks of THQ Inc.
Julie MacMedan THQ/Investor Relations 818/871-5095 Liz Pieri THQ/Media Relations 818/871-5061
CONTACT: Julie MacMedan, THQ/Investor Relations, +1-818-871-5095, or Liz Pieri, THQ/Media Relations, +1-818-871-5061, both of THQ Inc.
Web site: http://www.thq.com/ http://www.thqwireless.com/
Prime Hospitality Corp. announced today that effective immediately Bryan K. Hayes, C.H.A., has been promoted to the position of Senior Vice President of Operations - East Division. In his new position, Mr. Hayes will continue to oversee all operations and sales efforts for the 86 owned and managed AmeriSuites and Wellesley Inns & Suites in the Eastern United States. He also supervises Regional Vice Presidents of Operations, Regional Vice Presidents of Sales and Revenue Managers for the division. He is a member of the brand standards committee for both brands.
"As the Prime family of hotels continues to develop and expand, we rely on Bryan's leadership to oversee daily operations and ensure that our customers benefit from the industry's best combination of value, features and convenience," said A.F. Petrocelli, Prime's Chairman and Chief Executive Officer. "This promotion recognizes the important contribution that Bryan continues to make towards improving our business."
Mr. Hayes has over 20 years of experience in hospitality management and operations, nine years of which he has spent at Prime. He holds a B.S. degree in Business Administration from Edinboro University of Pennsylvania.
Prime Hospitality Corp., one of the nation's premiere lodging companies, owns, manages, develops and franchises more than 250 hotels throughout North America. The Company owns and operates three proprietary brands, AmeriSuites(R) (all suites), PRIME Hotels & Resorts(SM) (full-service) and Wellesley Inns & Suites(R) (limited service). Also within Prime's portfolio are owned and/or managed hotels operated under franchise agreements with national hotel chains including Hilton, Sheraton, Hampton, and Holiday Inn. Prime can be accessed over the Internet at http://www.primehospitality.com/.
CONTACT: Jeremy Zuck of Prime Hospitality Corp., +1-973-882-7662, or jbz@primehospitality.com
Web site: http://www.primehospitality.com/
Company News On-Call: http://www.prnewswire.com/comp/130238.html http://www.prnewswire.com/comp/155593.html http://www.prnewswire.com/comp/133400.html
