New York Media is laying off 16 full-time staffers and an additional 16 part-time and freelance staffers in a restructuring that is intended to put it on firmer financial footing, the company said today.
The cuts primarily affect New Yorks audience development and circulation teams, its copy and fact-checking desks and its video and production teams.
In some cases, the changes we are making reflect a need fornewfocus as we build out our digital subscription business; in others, they reflect an overdue integration of print and digital staffs, said Lauren Starke, a spokesperson for New York Media. In no case are they a judgment on the quality of the work produced by our colleagues who are leaving, and we thank them sincerely for …
Read the full article at: https://www.adweek.com/digital/new-york-media-cuts-5-of-full-time-staff-in-restructuring/
DEBT RELIEF: Education-focused venture capital firm Rethink Impact has led an $11.2 million Series A round for FutureFuel.io, which provides a platform to help employees pay down their student debts. The Boston-based company has now raised a total of $15.7 million, according to a statement.
Founded in 2016, FutureFuel.io allows employers to offer student debt repayment as an employee benefit. The company claims it can help users pay off their debt up to five years faster.
Other participants in the fundraising round include Breton Capital, First Data, G9 Ventures, The Impact Engine, Salesforce Ventures, SixThirty and Vulcan Capital.
Rethink Impact founder and managing partner Jenny Abramson has joined the FutureFuel.io board of directors. …
Read the full article at: https://www.edsurge.com/news/2019-03-11-futurefuel-io-raises-11-2m-to-help-users-pay-off-student-debt
By Liz Weston of Nerdwallet|AP,
Millions of Americans get their health insurance and retirement accounts through their employers. Now some are getting help with their debt.
Companies including insurer Aetna and accounting firm PwC help employees pay down student loans. Others partner with startups to offer debt solutions as an employee benefit. Among the approaches:
MedPu t negotiates discounts on medical debt and offers interest-free loans that are repaid through payroll deductions.
Brightside connects workers to debt consolidation loans and student loan refinancing.
HoneyBee, PayActiv and TrueConnect , among others, provide payday advances or emergency loans so struggling workers can avoid the payday loan trap.
FINANCIAL …
Read the full article at: https://www.washingtonpost.com/business/liz-weston-can-your-employer-cure-your-money-woes/2019/03/11/60e3ea2a-440e-11e9-94ab-d2dda3c0df52_story.html
Controversial billionaire James Stunt is being sued by CMC Spreadbet for just over 1 Million that Stunt allegedly lost by gambling on currency changes.
Stunt rose to fame by being married to Formula 1 heiress Petra Ecclestone and styles himself as a playboy billionaire. Stunt and Ecclestone are now divorced.
CMC Spreadbet is looking 1,002,103 plus a daily interest of 219 until the debt has been paid.
According to court documents, Stunt is hoping to pay off the debt by loaning the money against a 225 million fine art collection that he is currently loaning out. His collection includes paintings from Monet, Picasso and Dali.
Stunt has also suggested he could liquidate his wine collection worth in the region of 600,000….
Read the full article at: https://news.tunf.com/british-billionaire-pursued-for-1-million-gambling-debt/451812
Bankruptcy leaves the impression of utter failure, and when a company goes bankrupt, its easy to assume that its dead, may it rest in peace. According to this line of thinking, heres an alarming tidbit: If you regularly travel by plane, theres a decent chance youve flown with an airline that was bankrupt at the time. United filed for bankruptcy in 2002, followed by Delta in 2005, and American Airlines in 2011.
While bankruptcy can result in the liquidation or sale of a company, it also presents an opportunity for it to restructure while continuing to operate, suspend or reconfigure debt payment, and get back on its feet, so to speak. That was the case for United, Delta, and American, which all exited bankruptcy in less than four years…
Read the full article at: https://www.vox.com/the-goods/2019/3/11/18259894/bankruptcy-business-chapter-11-close-stores
The Pensions Regulator has dropped its probe into whether Johnston Press used a controversial insolvency procedure to dump 300m in pension liabilities on the industry lifeboat fund.
The UK regulator opened an investigation in November after Johnston, the publisher of the Scotsman and Yorkshire Post, used a pre-pack insolvency to keep the business afloat.
Pre-packs are legitimate insolvency procedures which allow a business to go into administration, with the assets then sold on to a new buyer, minus liabilities, such as pension debt.
Once a company is insolvent, its pension scheme becomes eligible for transfer to the industry-backed Pension Protection Fund (PPF), where members face cuts to their retirement income.
The administrators o…
Read the full article at: https://www.ft.com/content/1de2b812-43f7-11e9-a965-23d669740bfb
Mach7 Technologies Limited (ASX: M7T) is into the development of innovative data management solutions. The data management is used to create a clear and complete view of the patient based on which diagnosis is done. The company provides a vendor-neutral foundation for unstructured data consolidation and communication through its imaging platform.
The company today on 11 March 2019, announced a restructuring coupled with a cost-cutting program which is focused on accelerating sales growth and service delivery. This will help the company to achieve greater financial stability.
The organizational improvements announced today by the company will enable it to achieve cash flow break even from operations for the next 12-month period, as expecte…
Read the full article at: https://kalkinemedia.com/2019/03/11/mach7s-shares-tumbled-on-asx-post-restructuring-announcement-by-the-company/
Pursuant to Regulation 30 and any other applicable provisions, if any, of the SEBI ( Listing Obligation and Disclosure Requirements) Regulations,2015, please find attached list of Creditors received up to March 7th, 2019 as required to be displayed by Corporate Debtor under regulation 13(2) (c ) of IBBI ( Insolvency Resolution Process for Corporate Persons) Regulations,2016.
Pdf Link:
Sezal Glass Limited – Corporate Insolvency Resolution Process (CIRP)-List of Creditors
Source : BSE – www.bseindia.com
Read the full article at: https://www.thehindubusinessline.com/companies/announcements/others/sezal-glass-limited-corporate-insolvency-resolution-process-cirp-list-of-creditors/article26497054.ece
African Global Holdings (AGH), known formerly as Bosasa, has applied for withdrawal of their voluntary liquidation application.
As reported by Sunday World, the AGH board, which is chaired by Gavin Watson, Johannes Gumede, Papa Leshabane, Themba Dikani, Munirah Oliviera and Nomazulu Khumalo, wrote to the South Gauteng High Court in the first week of March.
Read Sars Illicit Economy Unit raids Bosasa head office
Why is African Global Holdings retracting liquidation process?
Their call was for their initial submission of approval to undergo a voluntary liquidation process to be set aside.
Clashes between board and liquidators
It is understood that there have been clashes between the AGH …
Read the full article at: https://www.thesouthafrican.com/african-global-holdings-doubles-back-voluntary-liquidation/
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Ironically, it was a $3000 bottle of Penfolds Grange wine from former Tigers chairman Nick Di Girolamo that brought an end to OFarrells stint as NSW premier. If he ends up taking the Tigers top job, OFarrell will join ARL Commission chairman Peter Beattie as the second ex-premier in rugby leagues corridors of power.
The newly elected board member wont automatically become the new chair, which was expected to come from the Wests side of the merger. While OFarrell is considered a Balmain man, its understood that is unlikely to count against him becoming chair and that he would have the requisite numbers if he replaced Go as a director.
The Racing Australia chief executive will need to call upon all of his considerable political nous a…
Read the full article at: https://www.theage.com.au/sport/nrl/former-premier-emerges-as-frontrunner-to-become-tigers-chairman-20190311-p513cj.html
Sandy Ogg Releases /grow: The CEOs Master Playbook for Coaching Value into Existence
New York, March 11, 2019 Sandy Ogg, founder of CEO.works, today announced the publication of /grow: The CEOs Master Playbook for Coaching Value into Existence (available now). The book was published with ForbesBooks, the exclusive business book publishing imprint of Forbes.
Ogg, a veteran C-Suite advisor, presents questions leaders need to address and offers clear advice for leveraging the intangibles that drive businesses to the next level. Touching on a variety of subjects including accountability and restructuring, his book presents solutions to the demands that companies face today. Growth today comes from creating and capturing value in increasing…
Read the full article at: https://www.forbes.com/sites/forbespr/2019/03/11/human-capital-expert-reveals-new-business-design-playbook-for-ceos/