Business Credit – Glw Drk http://glwdrk.com/ Wed, 05 Jan 2022 01:24:00 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://glwdrk.com/wp-content/uploads/2021/07/icon-1-150x150.png Business Credit – Glw Drk http://glwdrk.com/ 32 32 This Tucson Company Reduces Concentration During COVID, Achieves Big Results | Economic news https://glwdrk.com/this-tucson-company-reduces-concentration-during-covid-achieves-big-results-economic-news/ Wed, 05 Jan 2022 01:24:00 +0000 https://glwdrk.com/this-tucson-company-reduces-concentration-during-covid-achieves-big-results-economic-news/ Profitopia, an accounting firm in Tucson, has focused its efforts on helping businesses economically during the pandemic and is getting big results. Courtesy of Profitopia Ken Cook Special at the Arizona Daily Star Profitopia – the name sounds idyllic. Profits in a utopian way. Who wouldn’t want that? Well, Profitopia actually exists at a renowned […]]]>




Profitopia, an accounting firm in Tucson, has focused its efforts on helping businesses economically during the pandemic and is getting big results.


Courtesy of Profitopia


Ken Cook Special at the Arizona Daily Star

Profitopia – the name sounds idyllic. Profits in a utopian way. Who wouldn’t want that? Well, Profitopia actually exists at a renowned Tucson-based accounting firm founded by Kevin Marshall.

This column is about both entrepreneurial success and a public service announcement. I’ll start with the PSA side, because it leads to entrepreneurial success.

The Employee Retention Credit (ERC) is a little-known part of the family of government-offered COVID stimulus programs. This is a payroll tax credit offered by the IRS. Its sister program, the Paycheck Protection Program (PPP), has received a lot of publicity and many businesses large and small have taken advantage of its benefits.

Companies qualify for the ERC in one of three ways. First, the business was shut down by the government. Think retail establishments, gyms, restaurants, and hotel businesses.

Second, a business started on or after February 15, 2020 and suffered losses due to the pandemic. This is a Recovery Startup Business credit.

Third, if a business’s cash flow is down 50% or more from 2019 to 2020, or 20% from 2020 to 2021, it is eligible for credits. This calculation is done quarter by quarter.


Source link

]]>
Additional help from child tax credit ends, just as Covid resurfaces https://glwdrk.com/additional-help-from-child-tax-credit-ends-just-as-covid-resurfaces/ Mon, 03 Jan 2022 00:53:48 +0000 https://glwdrk.com/additional-help-from-child-tax-credit-ends-just-as-covid-resurfaces/ This does not happen. Polls have found the public to be roughly divided on whether the program should be extended, with views varying along partisan and generational lines. And the expanded tax credit failed to convince the person whose opinion mattered most: West Virginia Democrat Senator Joe Manchin III, who raised concerns about the cost […]]]>

This does not happen. Polls have found the public to be roughly divided on whether the program should be extended, with views varying along partisan and generational lines. And the expanded tax credit failed to convince the person whose opinion mattered most: West Virginia Democrat Senator Joe Manchin III, who raised concerns about the cost and structure of the program in its decision to oppose Mr. Biden’s climate, fiscal and social measures. policy bill. The bill, known as the Build Back Better Act, cannot be introduced in the equally divided Senate without the support of Mr Manchin.

For supporters of family allowances, the lack of an extension is all the more frustrating since, according to most analyzes, the program itself has been a remarkable success. Researchers at Columbia University estimate that the payments lifted 3.8 million children out of poverty in November, a nearly 30% reduction in the child poverty rate. Other studies have shown that the benefit reduced hunger, reduced financial stress among recipients, and increased overall consumer spending, especially in rural states that received the most money per capita.

Congress last spring expanded the existing child tax credit in three ways. First, it made the benefit more generous, offering up to $ 3,600 per child, up from $ 2,000. Second, he began to pay off the loan in monthly installments, usually deposited directly into recipients’ bank accounts, turning the annual windfall into something closer to the child allowances common in Europe.

Finally, the bill made full benefits available to millions of people who previously had not been able to take full advantage of the credit because they earned too little to qualify. Poverty experts say the change, known in tax parlance as “full refundability,” was particularly significant because without it, a third of children – including half of all black and Hispanic children, and 70% of children raised by single mothers – did not receive full credit. Mr. Biden’s plan would have made this provision permanent.

“What we saw with the child tax credit was a political success that was unfolding, but it’s an achievement that we risk stopping just as it started,” said Megan Curran, director of policy at Columbia’s Center. on poverty and social policy. “The weight of proof is clear here in terms of what the policy does. This reduces child poverty and food shortages.

But the expanded tax credit doesn’t just go to the poor. Couples earning up to $ 150,000 a year could receive the full benefit of $ 3,600 – $ 3,000 for children 6 and over – and even the wealthiest families qualify for the initial credit of 2 $ 000. Critics of the policy, including Mr Manchin, have argued that it makes little sense to provide assistance to relatively well-off families. Many proponents of credit say they would willingly limit its availability to richer households in return for maintaining it for poorer ones.

Mr Manchin also publicly questioned the wisdom of unconditional cash payments and privately expressed concerns that recipients might spend the money on opioids, comments that were first reported by The Wall. Street Journal and confirmed by someone familiar with the discussion. But a Census Bureau survey found that most beneficiaries used the money to buy food, clothing, or other essentials, and many saved some of the money or paid back their expenses. debts. Other surveys have found similar results.


Source link

]]>
How to get financing for a business https://glwdrk.com/how-to-get-financing-for-a-business/ Thu, 30 Dec 2021 16:38:34 +0000 https://glwdrk.com/how-to-get-financing-for-a-business/ Small business financing can be essential in starting or growing a small business. But securing financing for a business can be confusing. Find out how to get the financing you need: Determine the amount of financing you need Evaluate business financing options Find out what it takes to get business financing Where to find business […]]]>

Small business financing can be essential in starting or growing a small business. But securing financing for a business can be confusing. Find out how to get the financing you need:

  • Determine the amount of financing you need
  • Evaluate business financing options
  • Find out what it takes to get business financing
  • Where to find business financing
  • Learn How To Get Money-Free Business Financing

Determine the amount of financing you need

One of the most difficult decisions you will make in your business is obtaining financing and, if so, by how much. To do this, you will need to take into consideration:

  • Use of funds. How will you use the money you borrow? Detailed projections will be helpful here.
  • How much can you afford? How much can you afford to pay with the funds you borrow? Be sure to consider how the new payments will affect your cash flow.
  • What will be the ROI of your funding? In other words, how will you use the funding to make more money?

Tip: Your SBA resource partner (SCORE, SBDC, or SBTDC) can help you create a business plan that will guide you in these decisions. Find free help at SBA.gov.

Evaluate business financing options

There are many financing options available for your business. Here’s a look at the most popular types of financing to consider:

Business credit cards

Available to business owners with good to excellent credit (including startups), business credit cards offer a flexible line of credit that can be useful for short-term cash flow needs. Consider a credit card with a 0% welcome offer to provide interest-free financing.

Credit line

A line of credit will give you business funds that you can access when you need them. Ideal for meeting short-term cash flow needs.

Term loan

Borrow a fixed amount of money for a given period. Payments are also often fixed. Ideal for specific projects with a defined timeline.

SBA loan

There are over ten different SBA loan programs that offer funds that can be used for working capital, equipment finance, real estate, and a variety of other purposes. The prices and conditions are excellent. Ideal for business owners with good credit who have had difficulty obtaining financing elsewhere.

Merchant cash advance

One of the fastest financing options, Merchant Cash Advances are income-based. The business receives an advance on future income and the funding is repaid daily or weekly. Ideal for high turnover companies that need very fast financing.

Invoice financing

Businesses that regularly invoice other businesses (B2B) may be able to obtain financing more quickly through invoice financing or factoring. The finance company advances the company funds on the invoice and either the company will reimburse the financing or, in the case of factoring, the finance company will collect directly from the company that owes the invoice (factoring ).

Equipment financing

Obtain financing for the purchase of equipment. Leasing is another option for getting equipment without a lot of money up front. Ideal for businesses that need to get equipment and also save money.

Crowdfunding

Borrow or collect money from many people using crowdfunding platforms. With four main types of crowdfunding and plenty of platforms, you can find one that’s right for your business. Ideal for companies with an exciting project or business plan, or a loyal following.

Microcredits

Small loans (generally less than $ 50,000) for businesses that have difficulty qualifying for traditional financing. Often made by non-profit lenders seeking to help underserved entrepreneurs (such as low-income, minority, rural or women-owned businesses). Ideal for businesses needing a little capital.

Subsidies

Small Business Grants provide funding that does not have to be repaid. There are many grant programs available from private organizations; foundations; local, state or federal government agencies; or economic development organizations. Ideal for businesses that meet the criteria of the granting agencies.

Sellers

Get payment terms (like net-30 terms) with vendors. Ideal for businesses looking to improve their cash flow.

Angel investors and venture capital

Firms with high growth potential may be able to secure financing from investors, including angel investors and venture capitalists. However, venture capital funding is difficult to obtain and will require the abandonment of the company’s equity capital. Ideal for businesses with a high likelihood of growing quickly.

Find out what it takes to get business financing

Most small business financing decisions are based on three main factors:

  • Income
  • Credit
  • Time in business

Any of them can make or break a small business loan application, so let’s take a closer look.

Income

Lenders like to see that companies have a solid track record of earning money. Minimum income requirements vary, but many lenders will want the business to generate, on average, at least $ 10,000 in income per month. They may require copies of small business bank statements and / or business tax returns to verify income.

In a moment, we’ll talk about options for businesses that don’t make money.

Credit

It is very common for commercial lenders to check the personal credit scores of business owners and some lenders to check business credit. Credit requirements vary, but for traditional lenders (like banks), you’ll generally need good credit with credit scores of at least 680-700 or higher.

Business owners with poor credit scores may still be eligible for financing that does not require good credit, including crowdfunding, invoice financing, or cash advances to merchants. Some loans are more flexible in terms of credit, especially equipment financing and microloans.

Time in business

It is not uncommon for lenders to require at least 12 to 24 months of activity before granting a loan. Some lenders will lend to businesses with only 6 to 12 months of activity; they generally require high income.

Startups will have a harder time securing funding, but there are options including business credit cards, microloans, crowdfunding, and vendor terms. Some SBA loans are made available to start-up businesses, but good credit and a solid business plan will likely be required.

Learn How To Get Money-Free Business Financing

Whether your business is a new business that isn’t making any money yet, or an existing business that suffers from a decline in sales, it can be difficult to get financing without income. If seed money won’t get you far enough, you may need to get creative in finding money for your business.

Options for cashless entrepreneurs can include crowdfunding, small business credit cards, supplier finance, microloans, grants, and equipment finance. Friends and family are also a traditional source of funding for many businesses, especially when they are young.

Where to find business financing

There are a number of sources of financing that small business owners can consider when trying to raise money or get a small business loan.

Banks and credit unions often offer low interest rates and excellent repayment terms. Traditional bank loans also usually have high eligibility standards and will require good credit.

If you are looking for crowdfunding, there are many crowdfunding platforms; much more than just a kickstarter or indiegogo that you may be familiar with. Download a free list of crowdfunding sites at Crowdfundbetter.com.

Online lenders can often make decisions quickly. The rates will be higher than those of the banks, but the application process will be considerably simpler.

Online loan markets can match borrowers for small business loans based on qualifications, making it easier and faster to find a loan.

If you’re hoping to get an SBA loan, you probably won’t be applying on SBA.gov. With the exception of disaster loans, the US Small Business Administration does not make loans, it guarantees them. Instead, you will go to participating lenders such as banks or nonprofit community development financial institutions.

This article was originally written on December 30, 2021.

Rate this article

This article has no ratings yet.

class = “blarg”>


Source link

]]>
Capital region credit unions donate $ 350,000 to charity https://glwdrk.com/capital-region-credit-unions-donate-350000-to-charity/ Tue, 28 Dec 2021 18:13:48 +0000 https://glwdrk.com/capital-region-credit-unions-donate-350000-to-charity/ ALBANY – Local credit unions CAP COM and SEFCU show how their “historic” merger will bring disproportionate benefits to the capital region and beyond. The two financial institutions – which announced this summer a “merger of equals” that will create one of the country’s 30 largest credit unions with $ 8 billion in assets – […]]]>

ALBANY – Local credit unions CAP COM and SEFCU show how their “historic” merger will bring disproportionate benefits to the capital region and beyond.

The two financial institutions – which announced this summer a “merger of equals” that will create one of the country’s 30 largest credit unions with $ 8 billion in assets – plan to announce a massive donation of 350,000. $ to charities across the state.

The money will be donated to 50 pantries and shelters not only in the Capital region, where the two credit unions are headquartered, but also in Syracuse, Binghamton and Buffalo.

“CAP COM and SEFCU’s common goal of giving back to the community is part of the DNA of both organizations,” said Chris McKenna, CEO of CAP COM, in a statement. “We are thrilled to volunteer with our friends at SEFCU and celebrate the many organizations that keep families in our community warm and nourished. ”

The two credit unions plan to rename the combined institution when the merger is completed next year.

While the two credit unions are charitable enough already, they say they believe their combined efforts are having a bigger impact than theirs.


“This is just one example of the positive impact we will have on our communities when we come together to create a new organization,” said SEFCU CEO Michael Castellana. “When we come together, we will remain focused on improving the lives of all those we serve through community support on an even greater scale.”


Source link

]]>
IT companies lead in post-pandemic financial measures https://glwdrk.com/it-companies-lead-in-post-pandemic-financial-measures/ Mon, 27 Dec 2021 03:28:13 +0000 https://glwdrk.com/it-companies-lead-in-post-pandemic-financial-measures/ CHICAGO – MARCH 30: Texas Instruments displays smart tag that uses radio frequency … [+] identification technology (RFID). RFID tags are used by retailers and manufacturers for tracking inventory and product flow. (Photo by Scott Olson / Getty Images) Getty Images Information technology (IT) companies received the most funding of any industry in terms of […]]]>

Information technology (IT) companies received the most funding of any industry in terms of volume, highest average amount of funding, and highest average income, new primary financial data study finds by Biz2Credit. The study also found that demand for IT services increased during the pandemic, leading to improved financial performance, and IT business owners had the highest average credit score.

Accommodation and food services had the highest average approval rates for funding requests. This was the second largest percentage of funding given to small businesses. These companies suffered greatly during the pandemic and were able to take advantage of financing programs like the Paycheck Protection Program (PPP) that were put in place to help them. Accommodation and food services industry finished second in terms of total funding volume

the Biz2Credit 2021 Best Small Business Industries Report analyzed the financial performance of more than 200,000 businesses that have used the company’s online funding platform to apply for funding, including forgivable loans through the Paycheck Protection Program (PPP) of the SBA, in 2020-2021. Analysis looked at the following metrics: annual revenue, operating expenses, loan approval rate, total amounts funded, business owner credit scores, and company age.

Main conclusions:

The sector with the highest total funding volume in 2020 was the Technological Information (IT) industry, which obtained 18% of all funding issued. The second most funded industries in the country were accommodation and food services (15.3% of funding volume) and health care and social assistance (8.2% of funding volume)

· THIS business owners had the highest average credit score (636), followed by real estate (633), finance and insurance (624), professional and technical (623) and health care (619).

The companies of IT sector had the highest average income ($ 1,518,640). Wholesale trade ($ 1.3 million), manufacturing ($ 1.1 million), retail trade ($ 750,000), accommodation and food services ($ 626,000) and health care and social assistance ($ 612,000).

· Accommodation and food services had the highest approval rate for financing requests at 57%. Retail trade (55%) and healthcare (54%) followed closely, while Transportation and warehousing was the industry with the youngest companies. This corresponds to the greatest number of recent startups.

· Health care and social assistance had the oldest companies with an average age of 91 months (7.6 years).

Further findings revealed that a Chartered Professional Accountant (CPA) and Chartered Professional Accountant (CPA) proved invaluable to small business owners during the pandemic. The report also analyzed how often companies from different industries worked with a CPA on funding applications. He looked at data from over 40,000 small businesses that have partnered with CPA firms to process and fund more than $ 1 billion in PPP loans through the CPA business finance portal. The cloud-based funding platform was developed by Biz2Credit and CPA.com specifically for accounting firms and recently added a term loan option to support the growing role of CPA firms in business advisory services. .

The platform data was analyzed as part of the Biz2Credit report. The top five industries working with CPA firms are accommodation and food services (17.8%), construction (13.6%), healthcare (13.3%), professional services (12.0%) and other services (9.5%), which include beauty salons, repair shops, laundry services and a range of other services.

We know from our experience with small business relief efforts during the pandemic that CPAs are a critical bridge in securing funding for many business owners. Providing CPA firms with easier access to financing for their clients will have benefits going forward, but especially for industries that fare less well as the recovery strengthens.

The report covers industries based on the NAICS classification system including accommodation and food services, business and professional services, healthcare, IT, manufacturing, personal services, retail and wholesale.

The study aimed to identify the top industries for small businesses in the previous year and measure the performance of businesses based on their industry affiliation. All of the companies included in the survey had fewer than 250 employees and less than $ 10 million in annual revenues. The report covered small businesses across the country, from start-ups to established businesses. Biz2Credit also analyzed Paycheck Protection Program (PPP) loan data from the SBA database.


Source link

]]>
Southwest Gas Holdings Issues Statement Regarding Extension of Carl Icahn’s Unsolicited Takeover Offer | https://glwdrk.com/southwest-gas-holdings-issues-statement-regarding-extension-of-carl-icahns-unsolicited-takeover-offer/ Sat, 25 Dec 2021 02:15:00 +0000 https://glwdrk.com/southwest-gas-holdings-issues-statement-regarding-extension-of-carl-icahns-unsolicited-takeover-offer/ LAS VEGAS, December 24, 2021 / PRNewswire / – Southwest Gas Holdings, Inc. (NYSE: SWX) (“Southwest Gas” or “the Company”) today confirmed that a subsidiary of Carl Icahn (“Icahn”) has extended its public tender offer to acquire all of the outstanding common shares of the Company for $ 75.00 per share in cash (the “Offer”). […]]]>

LAS VEGAS, December 24, 2021 / PRNewswire / – Southwest Gas Holdings, Inc. (NYSE: SWX) (“Southwest Gas” or “the Company”) today confirmed that a subsidiary of Carl Icahn (“Icahn”) has extended its public tender offer to acquire all of the outstanding common shares of the Company for $ 75.00 per share in cash (the “Offer”). As previously announced, the board of directors of Southwest Gas rejected Icahn’s unsolicited, inadequate, structurally coercive, highly conditional and illusory takeover bid. Consequently, the Board continues to recommend that shareholders not tender any of their shares to the Offer.

Southwest Gas has issued the following statement:

The Southwest Gas Board and management team are executing a clear and detailed strategy to create value and are committed to taking actions consistent with the goal of creating long-term shareholder value. The board has thoroughly reviewed Mr. Icahn’s offer, in consultation with our external financial and legal advisors, and has unanimously determined that the offer is inadequate and undervalues ​​the company, has no certainty of completion and is not in the best interests of the shareholders of Southwest Gas. Filing of Mr. Icahn’s offer would only encourage an opportunistic attempt to acquire Southwest Gas at an inadequate price and subject to a long list of ambiguous conditions, some of which were not met by Mr. Icahn. Accordingly, the Board continues to recommend that shareholders not tender their shares to Mr. Icahn’s unsolicited, inadequate, structurally coercive, highly conditional and illusory takeover bid.

Lazard and Moelis & Company LLC are acting as financial advisers to Southwest Gas and Morrison & Foerster LLP and Cravath, Swaine & Moore LLP as legal advisers.

About Southwest Gas Holdings, Inc.

Southwest Gas Holdings, Inc., through its subsidiaries, is engaged in the purchase, distribution and transportation of natural gas and provides comprehensive utility infrastructure services across North America. Southwest Gas Corporation, a wholly owned subsidiary, safely and reliably delivers natural gas to over two million customers in Arizona, California and Nevada. Centuri Group, Inc., a wholly owned subsidiary, is a full service utility infrastructure company dedicated to providing a wide range of solutions for North America gas and electricity suppliers.

How to find additional information

This communication does not constitute a solicitation of a vote or approval in connection with the 2022 annual meeting of shareholders of Southwest Gas Holdings, Inc. (the “Company”) (the “Annual Meeting”). In connection with the Annual Meeting, the Company will file a proxy with the United States Securities and Exchange Commission (“SEC”), which the Company will provide, along with any other relevant information or document, to its shareholders in connection with of the Annual Meeting. . BEFORE MAKING ANY VOTING DECISIONS, WE URGE SHAREHOLDERS TO CAREFULLY READ THE PROXY STATEMENT (INCLUDING ANY CHANGES AND SUPPLEMENTS TO IT) AND THE WHITE PROXY CARD AND OTHER DOCUMENTS WHEN THIS INFORMATION IS FILED WITH THE SEC CAREFULLY AND IN THEIR INTEGRITY WHEN THEY BECOME AVAILABLE CONTAINS IMPORTANT INFORMATION ABOUT THE COMPANY AND THE ANNUAL MEETING. Proposals for the Annual Meeting will be made only through the proxy circular. In addition, a copy of the proxy statement (when available) can be obtained free of charge at www.swgasholdings.com/proxymaterials. Securityholders will also be able to obtain free copies of the Proxy Circular and any other documents filed by the Company with the SEC in connection with the Annual Meeting on the SEC’s website at http : //www.sec.gov, and on the companies website at www.swgasholdings.com.

Important information for investors and shareholders

This communication does not constitute an offer to buy or the solicitation of an offer to sell securities. In response to the takeover bid for the shares of the Company launched by IEP Utility Holdings LLC and Icahn Enterprises Holdings LP, the Company has filed a solicitation / recommendation statement on Schedule 14D-9 with the SEC. SOUTHWEST GAS HOLDINGS INVESTORS AND SHAREHOLDERS ARE URGED TO READ CAREFULLY THEIR SOLICITATION / RECOMMENDATION STATEMENT AND OTHER SEC DOCUMENTS IN THEIR ENTIRETY BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. Investors and shareholders can obtain a free copy of these documents from the SEC’s website at www.sec.gov and from the Company’s website at www.swgasholdings.com. In addition, copies of these documents may be requested from the Company’s information agent, Innisfree M&A Incorporated, at toll-free number (877) 825-8621.

Forward-looking statements

This document contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are based on current expectations, estimates and projections regarding, among other things, the industry, markets in which Southwest Gas Holdings, Inc. (the “Company”, “Southwest Gas Holdings”, “SWX” or “we” operates, and the matters described in this press release. Although the management of the Company believes that the assumptions underlying its forward-looking statements and information are reasonable, such information is necessarily subject to uncertainties and may involve certain risks, including many are difficult to predict and are beyond the control of the Company’s management. A number of important factors affecting the Company’s business and financial results could cause actual results to differ materially from those shown in forward-looking statements. factors include, but are not limited to, the timing and amount of tariff relief, app changes inputs to rate design, customer growth rates, effects of regulation / deregulation, tax reform and related regulatory decisions, impacts of construction activities at Centuri, earnings trends, seasonal trends and the impacts of stock market volatility. In addition, the Company cannot guarantee that its discussions on future operating margin, operating income, pension expense, COLI results and capital expenditures in the natural gas industry will take place. Likewise, the Company cannot guarantee that discussions regarding revenues of the utility infrastructure services segment, operating profit as a percentage of revenues, interest expense and amounts of non-controlling interests will occur. , nor any assurance regarding acquisitions or their impacts, including management plans relating thereto, such as that currently planned with regard to Riggs Distler & Company, Inc. and the ongoing acquisition of Dominion Energy Questar Pipeline, LLC and related entities (the “Questar Pipeline Group”). Additional risks include the occurrence of any event, change or other circumstance which could result in the termination of the sale and purchase agreement by and between Dominion Energy Questar Corporation and the Company (the “Questar Purchase Agreement”), the result any lawsuits that may be brought against the Company and others as a result of the announcement of the Questar Purchase Agreement, the risks that the proposed transaction will disrupt current plans and operations, the risks associated with the Company’s ability to integrate the Questar Pipeline Group, the amount of costs, fees, expenses and charges related to the transaction and the actual conditions of certain financings that will be obtained for the transaction, the potential negative impacts on credit ratings of the Company as a result of the transaction, the disruption of the Company’s share price and costs, fees, expenses and charges related to, and the distraction of the attention of the d irection in connection with, any p roxy contests or other matters related to shareholders or the like, as well as other risks which are set out under “Risk Factors” in the annual report of the Company on Form 10-K for the ” fiscal year ended December 31, 2020, the Company’s quarterly reports on form 10 -Q for the quarter ended June 30, 2021 and September 30, 2021 and in future SEC filings. All forward-looking statements speak only as of the date of this press release. All subsequent written and oral forward-looking statements attributable to the Company or any person acting on its behalf are qualified by the cautionary statements in this section. The Company assumes no obligation to update or publicly release revisions of forward-looking statements to reflect events, circumstances or changes in expectations after the date of this press release.

Participants in the call for tenders

The directors and officers of the Company may be considered participants in the solicitation of proxies in connection with the annual meeting. Information regarding the directors and officers of the Company and their respective interests in the Company by title or otherwise is available in its most recent annual report on Form 10-K filed with the SEC and its latest definitive proxy statement on l ‘Schedule 14A filed with the SEC. . Additional information regarding the interests of such potential participants is or will be included in the proxy circular for the annual meeting and other relevant documents to be filed with the SEC, when available.

Contacts

For more investor information, contact: Ken kenny (702) 876-7237 ken.kenny@swgas.com; or Innisfree M&A Incorporated, Scott’s winter/Jennifer shotwell/Jon salzberger, (212) 750-5833

For more media information, contact: Sean corbett (702) 876-7219 sean.corbett@swgas.com; Where

Joële frank, Wilkinson Brimmer Katcher, Dan Katcher / Tim lynch, (212) 355-4449

View original content: https://www.prnewswire.com/news-releases/southwest-gas-holdings-issues-statement-regarding-extension-of-carl-icahns-unsolicited-tender-offer-301450790.html

SOURCE Southwest Gas Holdings, Inc.


Source link

]]>
MTB launches co-branded business credit card for Basis members https://glwdrk.com/mtb-launches-co-branded-business-credit-card-for-basis-members/ Thu, 23 Dec 2021 10:38:03 +0000 https://glwdrk.com/mtb-launches-co-branded-business-credit-card-for-basis-members/ This card service was introduced to provide an efficient payment solution for Basis member organizations MTB recently launched a co-branded Visa Business credit card with the Bangladesh Software and Information Services Association (Basis) for Basis member organizations at Sheraton Dhaka in Dhaka. This important collaboration between a local private bank and the national trading body […]]]>

This card service was introduced to provide an efficient payment solution for Basis member organizations

MTB recently launched a co-branded Visa Business credit card with the Bangladesh Software and Information Services Association (Basis) for Basis member organizations at Sheraton Dhaka in Dhaka.

This important collaboration between a local private bank and the national trading body for Bangladesh’s software and IT services industry is helping to launch this distinctive co-branded commercial credit card, a press release read.

The event was attended by Syed Mahbubur Rahman, Managing Director and CEO of MTB and Syed Almas Kabir, President of Basis.

From the bank side, Syed Rafiqul Haq, additional managing director and commercial director, Tarek Reaz Khan and Rais Uddin Ahmad, deputy managing directors; Sanjib Kumar Dey, Head of SME Banking Services; Masud Mushfiq Zaman, group HR manager; Azam Khan, Head of Communications Department and Md Abu Bokar Siddik, Head of Cards were present at the ceremony.

From Basis, Shoeb Ahmed Masud, Vice President (Admin) and other senior members were also present on the occasion.

The Visa-powered co-branded business card will be the latest and first of its kind to be added to the bank’s product offerings.

This card service was introduced to provide an efficient payment solution for Basis member organizations. Customers can enjoy exclusive benefits such as a dual currency business credit card accepted worldwide, no issuance fees and no renewal fees if Tk2 lakh is spent through the card in one year, no time period. 45-day interest, free access to ATV air shows, free airport meeting and welcome service and many more with this card.

On the occasion, MTB Managing Director and CEO Syed Mahbubur Rahman said, “We are delighted to offer this special co-branded credit card to Basis member organizations. With this launch, we will provide our customers with a more distinguished and developed experience with our credit card offerings. “

Syed Almas Kabir, President of Basis, hoped that the new business card would open up new horizons not only for Basis member organizations, but also for the business sector in Bangladesh.

On this occasion, Soumya Basu, Country Manager – Bangladesh, Nepal and Bhutan, Visa said: “We are delighted to strengthen our relationship with Mutual Trust Bank Limited with the launch of this co-branded credit card. Bringing digital payments to companies in the software and ITeS industries, this corporate card aims to improve the experience of businesses currently making cross-border payments, in addition to other domestic business expenses, in accordance with guidelines from members of the the Bangladesh Bank for Basis. The card offers convenience, selected perks and other benefits to small businesses in the IT industry and reduces their reliance on traditional payment methods. “


Source link

]]>
B2B e-commerce payments get stuck in the past https://glwdrk.com/b2b-e-commerce-payments-get-stuck-in-the-past/ Tue, 21 Dec 2021 15:27:50 +0000 https://glwdrk.com/b2b-e-commerce-payments-get-stuck-in-the-past/ Millennials now represent more than a third of the workforce. Defined as those born between 1981 and 1996, they are the first generation to have been raised entirely on the computer. And they are rapidly moving into middle management and even senior management positions in companies. The generation that fueled the business-to-business (B2C) e-commerce boom […]]]>

Millennials now represent more than a third of the workforce. Defined as those born between 1981 and 1996, they are the first generation to have been raised entirely on the computer. And they are rapidly moving into middle management and even senior management positions in companies.

The generation that fueled the business-to-business (B2C) e-commerce boom is rapidly changing the business-to-business landscape. A DHL Express white paper earlier this year said that by 2025, 80% of all B2B interactions between suppliers and buyers will take place over digital channels. The company cited the introduction of tech-savvy millennials into the workforce and the rapid acceleration of digital trends due to the COVID-19 pandemic that has forced large segments of the workforce global to switch to remote work.

B2C e-commerce volumes grew 40% year-over-year in 2020 across the DHL network. The company said it delivered 484 million shipments in 2020, about 9% more per day than in 2019. The increase in volumes led to record results for parent company Deutsche Post DHL Group. DHL Express saw its turnover increase by 11.9% in 2020.

As B2B e-commerce changes business, the way businesses transmit payment for such purchases is lagging behind. Bar Geron, co-founder and CEO of Balance, told Modern Shipper that the millennial influence in business is starting to drive change.

“Tradition is tradition,” he said. “B2B [was] built in a certain way with a certain type of people. Today 82% of business buyers are millennials, so things need to change as they have [a new] way of working and living.


Read: Millennials Fuel The B2B Ecommerce Landscape

Read: First retail, now B2B: face-to-face transactions collapse


Geron said more than 90% of global trade continues to be done offline – that is, through invoices and paper-based processes. Geron said that while B2C e-commerce is still only a very small part of overall e-commerce, B2B represents the bulk of the opportunities. Companies like Libra are therefore needed to make these transactions more fluid and transparent. B2B e-commerce in the United States will reach $ 9 trillion by the end of 2021, according to Forrester, compared to less than $ 3 trillion for retail.

“If they don’t use it offline, they won’t use it online,” he noted of the use of business credit cards.

Most companies still prefer to manage invoices, which is not a feasible solution in a digital market. They add time and complexity to a process that should be similar to the consumer experience with Amazon in which payments are made instantly, Geron said.

Balance allows businesses to pay themselves “easily and instantly, as if it were a card payment all the time,” he noted.

The company, based in New York City and Tel Aviv, Israel, charges businesses a nominal fee, which Geron says is typically around 35% lower than traditional credit card fees, to handle transactions. The company ensures that the transaction between the parties goes quickly and smoothly, which is important in today’s business environment where supply chain disruptions have forced some companies to seek other suppliers. This onboarding process can take months, however, through traditional channels.


Watch: At your doorstep


“You can carry out transactions with third parties that you do not know without facilitating [previous] confidence, ”said Geron.

Traditional payment in B2B commerce is “milestone-based,” said Geron. A shipper is paid when the item arrives at an agreed point in the supply chain – and so do lower level suppliers along the supply chain.

“It’s a whole different game,” observed Geron. “Now there are invoices… and an internal payment and approval process that you need to take care of. And there are payment terms. On the merchant side, you have a whole accounts payable process.

In the B2C world, businesses hire companies like Stripe to facilitate payments for consumers, who will pay Stripe, who pays the business, often before they even receive the consumer’s funds. Libra does the same thing, making payment to the business before the merchant makes the payment.

“Every type of service you provide has to be consumer grade,” said Geron. “It sounds like a cliché, but it’s important.

Geron said the transition to the B2B payments space is “not a good thing to have, it has to happen”.

“I think when you look to the future and try to say what’s going to happen next, what’s the next change and think about the potential of what it means to take the economy and move it into space. online and making it seamless like the Amazon experience is not only fun, it’s probably the next industrial revolution, ”he said.

Click for more articles from Brian Straight.

You may also like:

Drones fly in the deserts of weather data. Can they be arrested?

Navigating the Chaos of COVID-19 Related Shipments: Finding the Capacity and Serving the Customer

Need a warehouse? You may have to wait 9 months


Source link

]]>
Paul Volcker, the Fed and “Tight Credit”. The myth that will not die. https://glwdrk.com/paul-volcker-the-fed-and-tight-credit-the-myth-that-will-not-die/ Sun, 19 Dec 2021 15:00:00 +0000 https://glwdrk.com/paul-volcker-the-fed-and-tight-credit-the-myth-that-will-not-die/ In a recent article for the New York Times NYT , Lananh Nguyen and Matt Phillips wrote of a happy and all too easily forgotten business reality between the United States and China: coveted the deep pockets and cachet of foreign investors. Please think about the above arrangement with comments on Federal Reserve priority. All […]]]>

In a recent article for the New York Times

NYT
, Lananh Nguyen and Matt Phillips wrote of a happy and all too easily forgotten business reality between the United States and China: coveted the deep pockets and cachet of foreign investors. Please think about the above arrangement with comments on Federal Reserve priority.

All of this points to a very edifying truth: credit is by far the most fungible commodity in the world. Innovative Chinese entrepreneurs and enterprises are not limited by the amount of credit flowing in China itself. And as evidenced by the massive flows of capital from savers around the world to American visionaries, the United States is also not limited by the credit produced in the United States. And It is “Product credit”.

Contrary to popular belief that the availability of credit is a consequence of the generosity of the central bank, the reality is that credit is always and everywhere a production effect. Entrepreneurs and businesses look for money for what it can be exchanged for (think trucks, tractors, computers, phones, desks, chairs, paper clips, etc.), in which case people lightly Sensitive people can logically see the link between the production and availability of credit. In other words, no one borrows money. They don’t lend it either. Lending and borrowing is always, always, always the transfer of resources from one group of hands to another at a rate of interest sufficient for the lender to forgo access to the resources.

All of this brings us back to China. Nguyen and Phillips note that “in October, there were 282 Chinese stocks listed in the United States, valued at around $ 1.7 trillion.” The total is about 3 percent of the US stock market according to reporters, but that’s 3 percent of a huge number. Not only do Chinese companies covet “the deep pockets and cachet of foreign investors,” they actively access their capital. Please think of this in terms of recent comments and comments dating back decades. In his weekly conversation with Gail Collins, the very excellent New York Times Columnist Bret Stephens remarked on inflation that “we could bring it down with higher interest rates, and we probably will have to eventually, although it would most likely cause a recession, as it was. case in the early 1980s ”. In the the Wall Street newspaperFormer Fed Vice President Kevin Warsh said that when “monetary policy is too restrictive, it slows aggregate demand.” More broadly, it is claimed to this day that the late Paul Volcker “whipped up” inflation by raising the federal funds rate to double digits in the early 1980s. According to those who think they are aware, credit is “tight” slowed down inflation. False, false and false.

And if the above argument is in doubt, consider China again. It doesn’t really matter what the Bank of China does, or the CCP, or the monetary authorities in general in China. As long as there are productive and innovative business ideas in China, there will be capital to finance them.

The globalized nature of credit testifies to the fallacy of assumptions that the Federal Reserve could cause a “recession” or a slowdown in “aggregate demand” by raising the fed funds rate. Such a view assumes that the United States is an impregnable island in the credit sense. Except no. Hell, if Chinese companies can easily bypass national credit barriers, can we seriously believe that the Fed is capable of cutting off access to credit in the very country that is so attractive to the world’s savers? And if you think that the Fed, by “fixing” the short-term credit rate, can make it “tight,” think again. The cost of credit is fixed in world markets. To pretend that the Fed can control it is just plain silly. And naive.

All of this puts an end to a never-ending myth about the early 1980s that simply won’t die. Supposedly Paul Volcker stopped inflation with “tight money”. Belief is absurd on too many levels to count. But for the sake of brevity, we must first say that inflation is a fall in the value of the unit; in our case, the dollar. Measured in gold, the dollar hit an all-time low of $ 875 with Volcker as Fed chairman. To which those with a reasonable understanding of monetary history will point out that the dollar’s exchange value has never been part of the Fed’s portfolio as it is. On this subject, the reasonable would be right. The Fed is not empowered to control inflation as historically believed.

Volcker’s myth also presumes that economic growth causes inflation, and that the contraction Volcker purportedly designed (he didn’t, but that’s another column) is an inflation killer. Except that the Phillips curve is a myth that is easy to discredit. Precisely because economic growth stems from investments designed to improve productivity, what economists believe to be inflationary is the surest sign of a rapid fall in prices. Too bad Republicans embrace what is discredited in pursuing the hagiography that Ronald Reagan (the president Volcker served after the loss of Jimmy Carter) himself would likely reject if he was there to reject it.

Finally, it cannot be stressed enough that the Fed cannot control total credit in the United States as it is. It is undoubtedly amusing for economists and pundits to imagine the central bank taking away the proverbial “punch bowl” from them, but the happier reality is that credit is once again a global concept. And as such, the world’s resources are relentlessly pushed by investors to their highest level of use. This is a long or short way of saying that access to credit is not so much a consequence of the “ease” or the “rigor” of the central bank as a certain consequence of productive ideas. Translated for those who need it, if you have a good idea the money will find you.

It’s no surprise that economic types want to believe that all good things go through central planners, but readers of political and economic commentaries would be wise to be skeptical. The power of the Fed is grossly overestimated. Fortunately. If he had the power some believe, economies around the world would be so destroyed that it wouldn’t be worth talking about.


Source link

]]>
Assessment: definition, formula, example https://glwdrk.com/assessment-definition-formula-example/ Fri, 17 Dec 2021 22:33:44 +0000 https://glwdrk.com/assessment-definition-formula-example/ A balance sheet is a type of financial statement that lists the assets, liabilities, and equity of a business. Assets must be in “equilibrium” and equal total liabilities and equity. Balance sheets can provide important financial information, but are also limited to a single day. Visit Personal Finance Insider for more stories. A balance sheet […]]]>
  • A balance sheet is a type of financial statement that lists the assets, liabilities, and equity of a business.
  • Assets must be in “equilibrium” and equal total liabilities and equity.
  • Balance sheets can provide important financial information, but are also limited to a single day.
  • Visit Personal Finance Insider for more stories.

A balance sheet is a type of financial statement that describes the assets and liabilities of a particular business, as well as the equity on a particular day. It is used to assess the financial health of a business and is also called a “statement of financial position”. Businesses use a variety of accounting tools, including a balance sheet, to assess the financial condition of a business at any given time.

How a balance sheet works

When it comes to assessing the financial well-being of a business, there are different types of financial statements to look at. A balance sheet is just one type of statement and is a bit different from an income statement (P&L), which is another commonly used financial report to assess a business’s finances.

“I want to explain to clients that the income statement is a film, while the balance sheet is a photo. The P&L corresponds to income and expenses over time, but shows the balance sheet of the financial position of the business in a single set time, ”says Courtney Barbee, owner and chief operating officer at Using -accounting.

So, for example, an income statement might be for the fourth quarter, a balance sheet might be for a single day at the end of a particular accounting period.

The balance sheet equation is: Assets = Liabilities + equity

Let’s go over what these parts mean individually:

  • Assets. These are items of monetary value. This includes current and non-current assets and is classified in order of liquidity. So, for example, you will have your current assets which include cash and cash equivalents, accounts receivable and inventory. Non-current assets can include items such as equipment, investments, copyrights and intellectual property
  • Liabilities. This includes amounts owed for debts or expenses. It also includes current and non-current liabilities. Current liabilities can be accounts payable, current debt securities and a portion of long-term debt securities. Non-current liabilities can include bonds issued by the company and long-term debts can also be classified as non-current liabilities.
  • Equity. It is equity refers to equity and includes the amount shareholders have invested in the business as well as retained earnings. Equity can also refer to net assets, which is the total liabilities subtracted from total assets.

“It’s called the balance sheet because it reflects the accounting equation, Assets = Liabilities + Equity, in balance,” explains Barbee. “The top is the assets: items of value, tangible or intangible, that the business owns. These can include cash, accounts receivable, equipment, or even things like a brand. trade or prepaid expenses. ”

Read a report

Given the name “balance sheet”, assets and liabilities as well as equity must be “balanced”. In other words, the value of your assets should be the same value as your total liabilities and equity combined.

“On the balance sheet, assets are listed in order of how easily they are convertible into cash. The liabilities are ranked in order of how long the required payment is due, ”says Phil Weiss, CFA, CPA and Principal at Apprise Wealth Management.

When it comes to the layout of the balance sheet, you can find either a vertical balance sheet like the one pictured below where the items are listed in a column that reads vertically, or from top to bottom.

There is also the possibility of a horizontal presentation, where assets and liabilities and equity are side by side, read horizontally. In this case, on the right side you will see the listed liabilities as well as the equity and on the left side there are the listed assets. Vertical presentation tends to be more common.

“Underneath the assets are the liabilities, the things that businesses owe. These are not just debts such as loans or credit cards, but can also include unearned income,” notes Barbee. “Equity is matched with liabilities. The entire income statement, up to the balance sheet date, is in fact housed in this part as retained earnings. “

The equity line on the balance sheet can include more than it looks and can be an important metric for investors to consider.

“It also includes equity that came in through things like cash injections or sales of shares, as well as equity that came out through distributions. Liabilities and equity add up to equal assets, resulting in the balance sheet, ”explains Barbee. .

Example of balance sheet

As an investor, you can view the important financial statements of publicly traded companies through the Securities and Exchange Commission (SEC). Here is an example of Apple Inc.’s balance sheet.

As you can see, there are assets divided by current assets including their subcategories as well as non-current assets and their respective subcategories. Below you can see current liabilities and non-current liabilities with their respective subcategories. At the bottom you can see the equity.

From the image below, you can see that the Total Asset Amount is Total Liability and Equity Amount.

A screenshot of Apple Inc.'s balance sheet.


Source: SEC.gov


Balance sheet of Apple Inc.


Source: SEC.gov


Advantages and disadvantages of using a balance sheet

A balance sheet is one of the primary financial statements that businesses should use as part of the assessment of their business finances. It is also possible for investors to examine the balance sheets of listed companies to determine their profitability. It is important to understand the benefits of reviewing a balance sheet and also to understand its limitations.

How investors can use a balance sheet

Investors can look at a company’s assets and liabilities and examine


liquidity

and returns before deciding to invest in a particular company. “Investors look at balance sheets to help assess a company’s financial viability,” Weiss explains.

Another important line to look at is the equity line where you can see important information about stocks and equity.

The financial report

A balance sheet is just one of many financial statements that businesses and investors can use to assess the financial condition of a business. It can offer important information at a specific time, but may not be as useful for examining growth. In tandem with other financial statements, you can get even more in-depth information.

“In general, if you’re trying to understand the financial health of a business, you want to look at its income statement, its cash flow statement, and its balance sheet,” suggests Weiss. “The combination of the three can give a better picture of the financial health of a business than any individual financial statement.”

This way, you have all the information you need to make an informed decision, with all the data available for you to review.


Source link

]]>