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Local business briefs: Tennessee Commerce faces Nasdaq delisting

Franklin-based Tennessee Commerce Bancorp, Inc. said Friday it received a letter from Nasdaq saying it was subject to possible delisting for not filing its annual report on time. The business bank plans to request a hearing before Nasdaq that could take place within the next 45 days.

The $900-million asset bank said two weeks ago it discovered problems with internal controls over its financial reporting and had hired an auditor to look into the issues. It also put its chief financial officer on paid administrative leave but bank officials said they had no reason to believe the deficiencies would impact previously reported results.

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Linked by Thom Holwerda on Mon 28th Nov 2005 14:22 UTC

"After reading the round-by-round account of our dual-core desktop CPU prizefight, it should come as no shock that AMD's Athlon 64 X2 chips are the runaway victors here, laying out the Intel Pentium D and Pentium Extreme Edition 840 chips pins up. If we had to call out one chip, AMD's Athlon 64 X2 4400+ is an outstanding bargain given the competition, but as our results show, any AMD dual-core CPU will serve you better than its similarly priced Intel equivalent." . more

Champion Closes 2 Manufacturing Plants

Modular home builder Champion Enterprises Inc. said Thursday it will close manufacturing plants in Silverton Ore., and LaGrange, Ind., in the wake of a weakening U.S. housing market.

The company said it will transfer production from the LaGrange facility to nearby facilities in Topeka, Ind.

The closures will result in restructuring charges of $2.1 million and other charges that could total as much as $7.5 million during the first quarter, which ends March 29.

"As a result of lagging sales, we made the difficult decision to further consolidate our U.S. operations, bringing the total number of plants idled or closed since mid-2006 to 10," said William Griffiths, chairman, president and chief executive, in a statement.

Shares of Champion rose 16 cents to $9.92 in after-hours trading after falling 22 cents, or 2.2 percent, to close at $9.76 in regular trading. more

Is risky business just part of game?

Wall Street investment bankers got another lesson about the dangers of risk-taking this past week with the downfall of Bear Stearns. The question now obviously is, how long will it last?

Those bankers, many of whom lived through market debacles like the dot-com bust at the start of this decade, turned out to have very short memories. And so analysts believe the sale of Bear Stearns to JPMorgan Chase for a stunning $2 per share ultimately won't have that much of an impact on how Wall Street conducts business.

In fact, bankers and traders are under even more pressure to reap big returns because of the credit crisis, and risk is just part of the game.

"There's an old saying on Wall Street that, for traders and bankers, you'd have to take a normal 30-year career and distill it to 15 years," said Quincy Krosby, chief investment strategist for The Hartford. more

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Welcome to Business cards

14 Pt Business Cards Article

Local business briefs: Tennessee Commerce faces Nasdaq delisting

Linked by Thom Holwerda on Mon 28th Nov 2005 14:22 UTC

Champion Closes 2 Manufacturing Plants

Is risky business just part of game?

Recent 14 Pt Business Cards News

Dollar hovers around 91 US cents - The Age

Single-game tickets on sale Saturday - Seattle Mariners

Wall Street: Inside The Collapse - CBS News

60 MINUTES [UPDATED] - The Futon Critic

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