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August 2019 Archives

Sources of new business financing

One of the biggest challenges faced by California entrepreneurs is securing the capital they need to fund a new business venture. Traditional banks adhere to strict underwriting standards and will generally want to see an established track record before they lend money, which means that many entrepreneurs turn to friends, family members and alternative lenders for the cash they need.

Rent-A-Center completes the acquisition of Merchants Preferred

Rent-to-own showrooms packed with furniture, electronics and appliances are a common sight in California and around the country, and a great many of them are operated by Rent-A-Center Inc. The Texas-based retailer has 2,972 locations in the United States, Mexico and Puerto Rico, but it has struggled to establish a similarly dominating presence in the growing virtual rent-to-own sector. Any qualms stockholders may have had were put to rest in July when Rent-A-Center announced that it had entered into an agreement to acquire Merchants Preferred, and recent media reports reveal that the deal has now been completed.

Gannett and New Media announce $1.38 billion newspaper merger

California investors who follow the media and communications sectors may be aware that two of the nation's most prominent newspaper publishers have announced merger plans. New York-based New Media Investment Group and Virginia-based Gannett made their plans public in an Aug. 5 press release. The deal is reported to be worth in the region of $1.38 billion.

How companies can successfully acquire other organizations

When a CEO in California decides to acquire another business, the acquisition needs to have some sort of strategic value. While a vast majority of mergers don't work out, those that do can result in significant returns for shareholders. Therefore, it is important to have a vision as to why the acquisition is taking place and which businesses are worth trying to buy or merge with. It generally isn't enough that a merger gives an organization the ability to scale or access new markets.

Sprint and T-Mobile merger faces hurdles despite DOJ approval

Investors in California and around the country who follow developments in the technology sector will likely know that tT-Mobile and the Kansas-based Sprint Corporation have been involved in merger talks since April 2018. The proposed deal seemed destined to fail due to regulatory concerns about rising prices, but the U.S. Department of Justice changed its position and approved the merger on July 26 after the satellite television company DISH Network entered the picture.

Fraud, other issues alleged in suit against Ethereum cofounder

Some cryptocurrency investors in California may have heard that one of the founders of the Ethereum project is facing a lawsuit from an ex-business associate. The lawsuit was filed in New York by Harrison Hines, who founded a company called the Token Foundry, against Joseph Lubin. The Token Foundry received support from the ConsenSys project. Lubin was also involved in its founding, and ConsenSys AG and the Consensus Token Foundry LP are named in the suit as well. The company was founded to introduce tokens with new blockchain companies, but most of the staff, including Hines, was laid off in 2018. The lawsuit deals with the possibility that ConsenSys might have concealed information about how it disbursed equity and what employees should have received when the Token Foundry went out of business.

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