Sallie Mae expands in Delaware, promising 300 more jobs
The student loan company Sallie Mae cut the ribbon to its second office in Delaware on Monday and committed to add nearly 300 new jobs in the First State.
“This is a big deal for our state. It’s a really big deal for this community,” said Gov. John Carney, at the ribbon-cutting ceremony. “Your decision to stay here and expand here, I think, is a vote of confidence for the workforce.”
The new office is located at 86 Christiana Road in New Castle. Sallie Mae currently employs 900 people…
Bertucci’s files for bankruptcy, to close 15 restaurants immediately
The Massachusetts-based Italian restaurant chain Bertucci’s filed for bankruptcy on Sunday, revealing plans to continue operating under a new owner and to close 15 locations immediately.
The company, known for its brick-oven pizzas, has struggled for years to compete against fast-casual restaurants that offer customers quicker service at an often cheaper price. Bertucci’s has experienced sales and revenue declines every year since 2011, Chief Financial Officer Brian Connell said in a bankruptcy…
Kansas bank regulator named to Fed post
President Donald Trump nominated Kansas’ top banking regulator to a post on the Federal Reserve System’s Board of Governors.
The White House announced Monday the appointment of Michelle Bowman as the designated community bank representative for the St. Louis region. Bowman presently is State Bank Commissioner for Kansas.
Bowman, a graduate of the University of Kansas and Washburn University School of Law, previously served as a staffer in Washington and an executive in the Federal Emergency…
PeopleAdmin to merge with California ed-tech business under Vista Equity’s guidance
Vista Equity Partners is rolling up a pair of education-technology companies in its portfolio, including Austin-based PeopleAdmin Inc.
PeopleAdmin will merge with Folsom, California-based PowerSchool, creating a company with a combined value of nearly $3 billion including debt, Reuters reports citing unnamed sources “familiar with the matter.” The deal includes an investment from Onex Corp.
Vista Equity, which is also based in Austin, will share ownership of the combined company with Onex, per…
Financial services business files for Chapter 11; CEO says reorganization on horizon
After decades in business, HJH Consulting Group Inc. and its affiliated businesses filed for bankruptcy protection in the U.S. District Court for the Western District of Texas.
HJH is based in Kerrville, about 100 miles west of Austin.
The group of businesses — which includes The Salt Group; U.S. Cost Management Partners, also known as US Tax Recovery Partners LLC; and The B2B Prospecting Source — filed for Chapter 11 on Apr. 2.
“A number of accounting irregularities placed the company…
Green industry business owner finds right buyer with professional guidance
Fred Vincelli started his first sustainable business in 1977 with the idea of developing and providing green post-consumer recycled products. After successfully growing his first cellulose installation business and selling it in 1997, Vincelli decided to continue his path of entrepreneurship and start a new company with the same innovative idea.
In 2001, Vincelli founded Carolina Precision Fibers, a green industry recycled materials manufacturing business located in Ronda, North Carolina that…
PNC hires former CEO of BNY Mellon Wealth Management
Donald Heberle returns to PNC, where he began his career in finance, effective June 4.
Houston company adds 205,000 SF to its San Antonio retail portfolio
Kotel Investments Inc., a real estate investment company with offices in Southern California and San Antonio, tapped Houston-based NAI Partners' landlord services division to manage its San Antonio retail portfolio.
NAI Partners, in turn, assigned the six-property, 205,000-square-foot portfolio to Cindy James, a San Antonio-based property manager who has been in commercial real estate for more than 20 years. James comes to NAI Partners from Endura Advisory Group, where she had a similar role and…
Banyan Street Capital merges with New York real estate firm
Miami-based Banyan Street Capital has merged with New York-based MHP Real Estate Services to form a commercial real estate firm with over $3 billion in assets and over 15 million square feet.
Norman Sturner, the co-founder of MHP, will be chairman of the company. His son, David Sturner, will be president and CEO, after previously being principal and chief operating officer.
“The union of MHP and Banyan Street has been in the works for some time,” Norman Sturner said. “With MHP’s portfolio…
Concern over waterfront tax grows, particularly among condo owners — but it’ll be tough to stop
One opponent said the tax overly burdens a small group of people when the new waterfront will benefit the entire city.