Client News Release
Entertainment Arts Research Inc.: A Bright Star in Dark Economy (Business Wire) and Broadway Financial Corporation Receives $9 Million Investment from U.S. Treasury (Business Wire)
City of Industry, CA --(www.FinancialNewsUSA.com)-- 11/17/2008 - Venture Capital industry news provided by Financial News USA (OTC: FNWU). ATLANTA--(BUSINESS WIRE)--Entertainment Arts Research Inc. an Atlanta-based video game publisher and interactive entertainment virtual world developer founded in 2000 by Professor Joseph Saulter, recently announced a multimillion dollar series A funding. EAR is in pre production on an original third person action thriller IP called Fire Wire District 22 driven by artistic creativity and advanced technology. EAR in partnership with Prototerra has created a virtual world for the Urban community to express the universal creativity embedded in the cultural experience. The EAR team aims to become the worldwide leader in video games that serve the African-American, Latin American, Asian and Caribbean markets by 2010. Currently there are only 2% African American in the video game industry and virtually no video game developers. Perfect time for the team at EAR Inc. [Read the full article]
LOS ANGELES--(BUSINESS WIRE)--Broadway Financial Corporation (the "Company") (NASDAQ: BYFC), parent company of Broadway Federal Bank, f.s.b. (the "Bank"), announced that it received a $9 million investment from the U.S.
Treasury Department pursuant to Treasury's TARP Capital Purchase Program (CPP).
Chairman and CEO, Paul C. Hudson, stated, "We initiated CPP investment transaction to raise capital to support our continued growth."
The Company issued senior preferred shares that pay a cumulative dividend rate of five percent per annum for the first five years and will reset to a dividend rate of nine percent per annum after five years. [Read the full article]
NEW YORK--(BUSINESS WIRE)--To provide additional time for clients to respond, UBS has extended the acceptance period for its Auction Rate Securities (ARS) Rights Offer until 5:00 p.m., Eastern time, on December 19, 2008, unless extended further. More than 94% of the market value of ARS Rights Series A, 96% of Series B, 90% of Series C and 97% of Series G have been accepted by clients since the offer period began on October 7, 2008.Eligible clients who accept UBS's ARS Rights Offer may continue to hold their securities or sell them to UBS at par at any time during specific exercise periods, which are determined by the types of clients and the sizes of their corresponding marketing households. [Read the full article]
WAYZATA, Minn.--(BUSINESS WIRE)--TCF Financial Corporation ("TCF")
(NYSE: TCB) announced it has received the proceeds from the $361 million investment in TCF by the U.S. Department of the Treasury. This investment is being made by the U.S. Treasury Department as part of its Capital Purchase Program ("the Program") under the Emergency Economic Stabilization Act of 2008. According to the U.S. Treasury, the Program is intended to stabilize the financial system and stimulate the U.S. economy by investing in healthy banking institutions so that they can expand lending to consumers and businesses in the United States.
"TCF has always been well-capitalized with adequate liquidity to facilitate lending through our strong retail deposit franchise. By participating in this program, we can expand lending beyond our previous growth plans," said William A. [Read the full article]
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