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Daily News – July 29, 2009

July 29, 2009

According to several articles from CTV, The Globe & Mail, and the Toronto Star, the now famous Toronto city workers strike may continue, despite a planned vote today by the union to approve concessions made by the Toronto mayor. As Antonio Valente is based in Toronto – this is an issue close to our heart. It not only affects garbage collection (the city has been a mess for the last month) but also affects key social services.

Escada is also improving its bond offering. Again. They are trying to swap debt notes for shares in the company, in an attempt to keep badly-needed cash on-hand, and keep the company afloat.  We should know in the next 10 days what happens with them.

Reuters is citing the New York Post as breaking the story that the Hartmax purchase by Emerisque may fall through. One reason they are pointing to is CIT, who was a financing partner with Heartmarx. CIT’s current issues are a critical part of the purchase and ongoing business.


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