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Finance & Capital Management

  • Study: India top offshore outsourcing destination

    New York - India, China, and Malaysia are the top-ranked offshoring destinations. According to the 2014 Global Services Location Index (GSLI) from A.T. Kearney, India, China, and Malaysia remain the top three offshoring destinations, and Asia continues to dominate, with six of its countries among the top 10.

  • Glimcher Realty Trust to be acquired in $4.3 billion deal

    Columbus, Ohio -- Washington Prime Group announced Tuesday it will acquire shopping center REIT Glimcher Realty Trust in a deal worth $4.3 billion.

    Washington Prime Group, a Bethesda, Maryland-based REIT, and Glimcher will combine under a new name WP Glimcher, with headquarters remaining in the current Glimcher offices in Columbus, Ohio.

    The newly combined company will remain publicly traded.

  • Dick’s Sporting Goods’ president and COO stepping down at year-end; merchandise VP also resigns

    New York -- The hunt is on for a new president and COO at Dick's Sporting Goods. Dick’s disclosed in a regulatory filing that Joseph Schmidt is retiring as president and COO of the retailer, a role he has held since 2009, at year-end. In other changes, John Duken, executive VP of global merchandising since 2012, plans to retire, effective at the end of November.

  • DDR Corp. CEO to leave at end of 2015

    Leading shopping center owner and operator DDR Corp. announced that CEO Daniel B. Hurwitz and the board of directors have decided not to renew his employment agreement, which expires December 31, 2015. It is anticipated that Hurwitz will remain CEO through 2015 to ensure a smooth leadership transition.

  • Ann Inc. responds to investors, says focus remains on value

    New York – Ann Inc. is publicly responding to an open letter sent by activist investors Engine Capital and Red Alder on Aug. 25, which urged the company to sell at a substantial premium above current stock price. In a press release, Ann Inc. said its board is “very active and consistently has been, and remains, focused on enhancing shareholder value.”

    Ann Inc. also said its board regularly reviews all options and uses a financial advisor to help evaluate them.

  • RadioShack seeks CFO

    Longtime RadioShack adviser Holly F. Etlin has been tapped once more as interim CFO, replacing John Feray. Citing personal reasons, Feray resigned Sept. 12, just a day after the company posted its 10th straight quarterly loss.

    Etlin, a managing director of AlixPartners, has already served as RadioShack's interim CFO, from July 2013 to Feb. 2014.

    RadioShack warned in a regulatory filing it may seek bankruptcy protection, with a possible sale or third-party investment as other potential avenues to remedy its ongoing financial woes.

  • Southeast Financial Center signs lease with DavidBartonGym

    Miami - Southeast Financial Center, an office tower and plaza totaling 1.22 million sq. ft. in Miami’s Central Business District, signed a 20,100-sq.-ft. lease with Club Ventures, Miami, LLC, to bring DavidBartonGym to the top floor of the property’s 15-story annex. Southeast Financial Center has undergone capital improvements totaling $20.5 million since late 2008, including the implementation of granite pedestrian walkways, strategic seating areas, an enhanced park setting with shade trees and various foliage and planters, and new lighting.

  • La-Z-Boy taps VP, strategy and analytics

    La-Z-Boy has appointed Aaron Thomas Brown as VP, strategy and analytics, a newly created position. Brown will report to Kurt Darrow, La-Z-Boy's chairman, president and CEO, and will spearhead strategic planning across the enterprise.

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