Following the announcement that auto glass repair company ABRA (ABRA Auto Body & Glass) would be undergoing recapitalisation under Palladium Equity Partners, LLC’s direction, more information has been pouring out of the business network regarding the recapitalisation.  One of the latest pieces of news is that Golub Capital is actually a partner of Palladium in the transaction.

Golub is apparently providing subordinated debt as well as acting to support an equity co-investment in the recapitalisation of the auto glass repair company.  Golub Capital revealed early in November that it had given $27M senior subordinated notes in aid of the transaction.  Representatives of the company spoke glowingly of the auto glass repair business, with the current managing director of Golub Capital stating that ABRA was considered one of the industry leaders when it came to collisions repair.  The managing director went on to say that the company was very excited to be partnering with efficient teams such as those from Palladium Equity Partners, LLC and ABRA.

The managing director of Palladium responded to that by adding that Golub was remarkably flexible and easy to work with during the entire transaction, suggesting that such adaptability was the very reason Palladium had chosen to work with Golub.  It was also stated that the other company’s efficiency and experience in business was very highly valued by Palladium, which is a company that has always focused on strongly directed investments and high-efficiency transactions.

Golub Capital is a major source of financing solutions in the country, and generally supports companies that belong to the middle of the industrial spectrum.  Holding its main offices in Chicago and New York, it has been named the Debt Financing Agent of the Year by M&A Advisor (only last year) for its debt financing work and wide range of offered solutions.  In the same year, Golub was named by Buyouts Magazine the Middle Market Lender for 2010, an honour granted to it the previous year as well.  The Thomson Reuters Loan Pricing Corporation also ranked it as the top Middle Market Bookrunner for the 3rd Quarter of 2011.

Instead of focusing on a wide “middle market” definition, on the other hand, Palladium Equity Partners, LLC focuses on investments that have to do with business services as well as ones that seem to be geared towards the Hispanic market in the United States, making it a very specific portfolio that the company boasts.  It is a fairly new company, having been formed in the late 1990s, but it already has over a billion and a half dollars of equity in its investments.  Now that the ABRA body and auto glass repair brand is included, Palladium is going to be growing even more.

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After Cho Tak Wong took over the major auto glass producer and exporter, Fuyao Glass Industry, he managed to grow the business to levels it had not reached before, expanding not just the auto glass company’s reach but also his own personal fortune.  Cho Tak Wong made it to the 99th place in this year’s Forbes list of China’s Top 400 richest entrepreneurs, having amassed a personal fortune that is estimated at an astounding $1.2 billion.  Yet the auto glass mogul has more to his record than mere money-making: he also ranked 2nd on the Forbes China Philanthropy List for this year, proving that money-making is not always about money-taking.

The list of top Chinese philanthropists was published in the Chinese-language version of the Forbes magazine and showed Wang Jianlin, the chairman of the Dalian Wanda Group, as the top philanthropic figure in China for 2011.  Apparently, Jianlin had donated an estimated 1.28B yuan, which converts to US$197M, to various charities and organisations.   Jianlin himself made it to this year’s Forbes list of billionaires, coming in at #232 with a personal wealth of $4.6B—no small change, to be sure.

Jianlin was followed in the philanthropy list by Cho Tak Wong, whose estimated donations to philanthropic causes has been set at 1.03B yuan, which would be US$158B.  Cho Tak Wong was recently interviewed by Tang Weiwei of Forbes China regarding his remarkable and long-standing involvement in charity work.  Cho Tak Wong spoke of his father’s achievements before him during the interview and remarked that perhaps there was some truth to the saying that entrepreneurial skill could be transmitted across generations by the vector of blood and heredity.

He also recalled the disastrous times when his family had to journey from Shanghai to Fuzhou with all their worldly possessions in a single boat, which haplessly sank before reaching them.  As a result, said Cho Tak Wong, his mother had sell a great many of her jewellery pieces so that they would survive in the new location.  Cho Tak Wong himself recalls having to sell tobacco with his father for money: a perilous task in the 1970s because the sale of tobacco was severely punished at the time by the Chinese government.  The auto glass billionaire suggested that the hardships he had experienced during that time predisposed him to being more conscious of the troubles others had to undergo.

Now, the auto glass mogul has donated as much as $40M to his hometown alone, specifically for the repair and construction of temples in the area.  Cho Tak Wong compared charitable actions and thoughts based on his religion (Buddhism) to flow like water from a central source, and claimed to be ever conscious of his responsibilities as a member of society.

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Filing For Bankruptcy In Arizona And Your Various Options

There will be that unfortunate time in a person’s life when he is suddenly forced to face the reality of his outstanding debts. These may come in a number of forms such as failure to keep up with mortgage payments, overwhelming credit card bills, or even monthly household expenses. Sometimes, the problems just come flooding in one after another like losing your job on top of all your debts or having your properties foreclosed on account of the same. In such cases, one of the practical options you can look into is filing for bankruptcy.

Filing for bankruptcy shouldn’t be viewed so negatively. A lot of people fear it because the concept of bankruptcy is always written in the negative. But when you properly look at it, bankruptcy is actually an effective way to get you off to a fresh start. You get to start off with a clean financial slate which means you will no longer be burdened by your past debts and such. The question now is choosing the most appropriate type of bankruptcy and how to file the same.

Generally, there are two types bankruptcy cases an individual can use in Arizona. We’re talking about Chapter 7 and Chapter 13 bankruptcy, respectively. In both cases, the bankruptcy court will be able to order a discharge of your financial liabilities, thus, you would be able to get a fresh start, free from previous and existing debts. It’s best that you seek the assistance of a bankruptcy lawyers in Arizona for this purpose. So, let’s try to distinguish one from the other.

When we talk of a Chapter 7 bankruptcy, this usually applies to an individual who has very little or no assets at all to pay off his outstanding liabilities. There is usually a test applied in order to see whether or not your present income along with your other assets can still be utilized to pay off portions of your debts or not. If these are still sufficient, then you may possibly not qualify for Chapter 7 and you may have to file under Chapter 13 instead. Under a Chapter 7 bankruptcy, your assets, however limited, will be classified as either exempt or non-exempt. Exempt property remains with the debtor and cannot be levied or attached by the creditor.

If it’s a Chapter 13 bankruptcy you’re looking into, this means that you still have remaining assets, including disposable income that can be reorganized to pay off your debts. Usually, there will be a repayment plan or schedule that will be presented to your creditors and the bankruptcy court for approval. The great advantage with this type of bankruptcy is that your creditors can still get something out of your debt while on your part, you get relief from the entirety of your financial obligations. Try to look up experienced bankruptcy lawyers in Arizona in order to exhaustively discuss your options. It always pays to be guided by a professional legal counsel before you actually file for bankruptcy.

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The Bullard Independent School District of the state of Texas has decided to resolve their crisis with their old alternative school facility by forgoing new termite treatment and repairs on the old building and selecting demolition of the same structure instead, so that a new building may be built in its place. The decision might seem surprising given the tightness of funds all over the state for educational groups at the moment, but the local community has been helping BISD in the financial department for this project, making the new building possible.

When BISD first discovered the termite infestation in the old building, fresh termite treatment was considered as a solution, with termite extermination experts being contacted for the authorities to determine how much such an option would cost. After careful assessment, however, it was determined that the termite treatment option was not the best one, financially speaking. The cost of the treatments would have to be paired with repairs for the building itself, after all, and from a long-term perspective, experts said that this would be more costly compared to the other option, which was to destroy the old structure completely and start anew.

However, a monetary issue arose regarding even that second option. Apparently, the recession had taken its bite out of the state as it had with others, cutting district funding by huge amounts and making it almost impossible for the BISD to get up sufficient money to pay for the new facility. However, locals soon came up with an answer, pitching in to assist the school district in erecting the new building.

The BISD’s superintendent, Keith Bryant, said that a local building company, Campbell Custom Homes, approached them upon hearing word of the school district’s problems. The company proposed a solution that would permit the school district to build a new structure at a very low price—one that the school district could afford. The company said that it would construct the new building for just under $100,000, more than halving the school district’s estimated costs for the plan. The building is going to be slightly under the 2,000 square foot mark in terms of area and is going to be a sturdy brick building.

The BISD has received more than this from the local community, however, which has proven only too willing to help the district in this venture: the city has also set aside building fees for the new construction, further bringing down the costs of the school district for this project. The district is planning to put the new building thorough termite treatment measures, of course, to avoid the new structure from falling prey to the same critters that did in the old one.

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Bentley Windshield Replacement and Auto Glass RepairU-Haul, the DIY moving solutions provider, has just recently partnered with an independent auto glass repair business in Colorado to provide moving equipment rentals to supplement its auto glass repair and replacement services.  The independent company, AutoGlass USA, has been run by Mike Zenhari since 1998 and the new partnership looks to expand both companies’ businesses by a large and profitable margin.

The partnership with the auto glass repair provider has been touted by U-Haul as just another piece of evidence proving its commitment to corporate sustainability.  Corporate sustainability is a strategic outlook in business that privileges “green” business activities as well as community-oriented tactics.  Openness is heavily emphasized in this business model, and corporations are encouraged to reach out to their communities.  In a nutshell, then, corporate sustainability is more or less interchangeable with business ethics that promote a better outlook for the future for everybody.

U-Haul’s promotion of its partnership with Colorado-located AutoGlass USA has to do with the community-oriented side of its corporate sustainability programme.  Quality, independent, and equally corporate sustainability-concerned companies are the types of partners U-Haul tends to look for, in an effort to build a stable and dependable network of partnerships all around the country.  The president of the South Colorado office of the company, Trey Bryan, spoke positively of their new partnership with the auto glass repair provider, saying that the company was proud to be affiliated with independent business dealers like AutoGlass USA’s Mike Zenhari.

U-Haul’s sustainability programme has also ensured that the company moves ever forward in its development of moving and packing solutions that do not harm the environment.  For example, the company makes use of heavy-duty boxes for packing that happen to be “green” solutions, because they are made up of as much as 90% recycled material.  Moving boxes are also reused if possible, and the moving pads the company provides are fashioned out of recycled material.  Even the packing peanuts used are fully recyclable, which makes a significant improvement over the old polystyrene peanuts used by most other movers.  U-Haul actually uses only the biodegradable packing peanuts now, having made the decision to use it exclusively over 15 years ago.

The partnership is likely to see higher customer traffic for U-Haul’s business associate too.  Auto glass repair shops typically do not see as many customers as they should because many people require reminders about the dangers of damaged auto glass before taking action and getting a crack fixed.  People who come in to inquire about the U-Haul rentals might react to their exposure to the auto glass section of the business by inquiring about windshield repairs and similar services, which would only be all to the good for AutoGlass USA’s business.

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Posted from Cerritos, California, United States.

Range Rover EvoqueThe Missoula Food Bank announced early this month that it would be running a holiday drive for food in order to keep up with the rising demand for stock, and the local Safelite Auto Glass is going to be helping by serving as a collection venue.  The Food Bank is a non-profit and private organization dedicated to solving the issue of hunger in its county.  While the food bank claims to receive as much as approximately 900,000 lbs of food per year from its donors—with monetary donations not even being included in the figure—the number of clients and demand for food has apparently been rising, so much so that between June and December of this year, the figure grew by 10 percent.

The root of the growing demand is obvious, of course.  The recession has been adversely affecting many homes for some time now, and as economic analysts say, it is probably going to get worse before it even gets better.  In the face of such bleak projections of the future, jobs have been getting even harder to acquire and capital for businesses running into hiding.  The result is bankruptcy for a lot of people, with many families being unable to feed themselves without assistance.

This is a bitter holiday season for such homes, and the Missoula Food Bank’s drive intends to try and alleviate some of the bitterness.  The aim of the drive is apparently to bring in about $175,000 as well as 75,000 lbs of food for the holiday season.  Several businesses in the area have already assured the food bank of assistance, with some—such as the Safelite auto glass repair shop—acting as drop-off locations where possible donors can leave their offerings.  The food bank is also accepting more than money and food, for those who cannot afford to give either: it is calling in volunteers to help with the holiday season.

Events such as these are not only reminders of a nation’s struggle against hard economic environments: they can also be reminders of how people can come together during a crisis.  Already the Missoula public is reacting to the call for donations, and businesses are coming in to pledge their support.  Businesses, in particular, stand to benefit a great deal from this sort of outreach: with business being so focused on social networks nowadays, it is more important than ever before to establish a strong bond with the community.  Safelite Auto Glass, for example, is known for building strong bridges with its local communities wherever it is located, and the auto glass repair brand’s participation in this event is yet another instance where it not only gets something for itself by having its name publicized but gets something for others as well by helping.

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Posted from Cerritos, California, United States.