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Financing America's Fastest Growing Companies®
New Client Highlights
Amerisource is pleased to announce it closed and funded 18 new client relationships in March and April 2011. Below are highlights of two of these new clients:
Monthly News Recap & Highlights
Business and Industry News
05/16 Poetic Justice for Chrysler's Bondholders
The New York Times
Just two years ago the U.S. pressured bondholders into accepting huge losses in Chrysler's
bankruptcy plan. Now the automaker seeks $6 billion to pay back the Treasury and those same
creditors have the upper hand ...Read more.
05/09 Bair to Leave FDIC in July, Ending 5-year Term
After five years in the role, Sheila Bair is stepping down as chairman of the FDIC. Bair was among
the first to raise concern over high-risk lending to borrowers with bad credit, and during her time as
chairman, the agency closed the most banks since the savings and loan crisis. Read more.
05/09 CFO Economic Optimism Down Slightly in U.S., Europe
Financial Executives International
CFOs from the U.S., France and Italy were polled and results show that while they have retreated a
bit from the confidence they showed at the beginning of 2011, their outlook is still positive. The
CFO Optimism Index dipped to 64.10 (down from 65.50 in Q4, 2010)...Read more.
05/06 Bankruptcy Law Review Tracks '10 Developments in Wake of Dodd-Frank
Shearman & Sterling
The financial crisis of 2008 continues to show significant effects through 2010, particularly in
regard to insolvency law. The firm finds that the U.S. is entering a "brave new world" in terms of
bankruptcy ...Read more.
05/05 2.6% of Firms Have Filed for Bankruptcy in Past 7 Years
The Orange County Register
More than 323,000 small businesses (or 2.6%) filed for bankruptcy between 2004 and 2010.
A study by the U.S. Small Business Administration found that 70% of businesses that file under
Chapter 7, 11 or 13 emerge as a reorganized business or liquidate and start a new
05/04 Former Bankruptcy Receiver Marika Tolz to Plead Guilty
Not long after an earlier scandal of the same type, Marika Tolz has admitted to misappropriating
$16 million in Chapter 7 bankruptcy estates, resulting in a $2.4 million loss ...Read more.
Amerisource Community Outreach
Amerisource and its employees are committed to giving back and enriching the communities in which we live and work. Click to read more about Amerisource's recent causes supported or sponsored, which include:
05/20 Brown Family Benefit Luncheon, St. John's Lutheran Church
05/15 Yellowstone Academy
05/01 Children 4 Tomorrow
The most popular name for a male CEO.
Rounding out the top five names are Bob,
Jack, Bruce and Fred. Deborah ranks as
the most popular female CEO name.
Source: ABC News
Percentage of U.S. mobile consumers who said their next desired operating system is Apple's iPhone. 26% would buy the Google Android operating system and 13% of U.S. mobile consumers sought RIM's Blackberry.
The percentage of tech startups that
close within the first six months in business.
Source: Business Insider
Vespa vs. Harley
A recent survey found significant and often surprising differences between (self-identified) Mac and PC users. 69% of PC users would rather ride a Harley than a Vespa, while 52% of Mac users prefer the Vespa.
The business analytics software provider is ranked #1 "best company to work for,"
for the second consecutive year, on the
100 Best Companies to work for list.
Some perks? On-site health care, car
cleaning, a beauty salon and a 66,000
Source: CNN Money
A contrarian-view forecast of the year when the Federal Reserve will raise the "Fed Funds" interest rate (currently set at 0.00% - 0.25%), according to research by economists at Goldman Sachs.
Number of women in the U.S. who have
earned a master's degree or higher,
surpassing the number of men with the same distinction for the first time in history. 10.5 million men have advanced degrees.
Source: Fox News
$61,436 per year
The quantitative "worth" of a mother based on all of the jobs she likely performs or fulfills.
The number of prisoners who escaped
incarceration in 2008, out of a total population
of 1.4 million (0.18%). The number has been declining for decades as shown by the 1993
data of 14,305 escapees from a population of 780,357 (1.80%).
Less than 1%
Acceptance rate of new students to the California prison guard training academy. By contrast, Harvard has an acceptance rate of 6.2%. Another interesting comparison: the starting salary of a California prison guard ranges from $50,000 to $65,000 and the average salary of a new Harvard grad is just under $50,000.
Source: Wall Street Journal
The value of U.S. Treasuries held by China,
the largest foreign holder (as of March).
The second-largest holder, Japan, has
$907.9 billion in U.S. Treasuries.
The percentage of the American general
public who believe that a college degree
is not worth the investment. Perhaps these people have read the Wall Street Journal article above...
Source: Pew Research Center
The most expensive place to buy gas
in the world. The average price for a gallon
is a staggering $9.61 and the country often
experiences fuel restrictions due to shortages
in supply. Eritrea is a country located in the horn of Africa.
Source: Business Insider
The country with the lowest gas prices in the world. This OPEC member nation averages just $0.09 per gallon due to large government subsidies.
Source: Business Insider
How quickly things change! Just last month we were writing checks to the IRS and lamenting the end of Spring Break, and now there is an onslaught of headlines around the killing of Osama bin Laden, the resignation and arrest of the IMF president, and the Arnold Schwarzenegger scandal. As easy as it is to get caught up and "escape" in the more sensational news, the problems facing the American and world economies (especially our small businesses here in this country) are still looming.
Among these problems is the Dodd-Frank Act. This sweeping bill, widely criticized by U.S. banks and lenders, is the most comprehensive regulatory reform since the Great Depression, and is projected to change banking as we’ve known it throughout our lifetime. For those who have credit cards, the average interest rate is rising and is likely to continue. At the beginning of 2011, the average credit card interest rate was 13.43%, up from 12.08% in 2008. So much for attempting to “legislate” a fix for high interest rates. And JPMorgan Chase CEO, Jamie Dimon, said last year that due to the new regulations, his company has completely stopped offering cards to a full 15% of people who would have otherwise qualified. In addition, the costs of implementing the legislation are unknown, and according to the Inspector General of the Commodity Futures Trading Commission, they are likely to remain under wraps. Based on regulations that the administrations has already released, $866 million in direct compliance costs will be placed on the financial industry. It is virtually certain that these costs will be passed along to consumers.
The regulation of the banking and financial industries is such a hot topic that HBO recently released a film titled "Too Big to Fail," which tells the story of the 2008 economic crisis. Although the event has already become "entertainment," the issue is still very real to lawmakers and financial institutions, and even more so to the consumers and businesses they finance.
At Amerisource we are closely connected to the commercial bank lenders of the world, our referral partners, and we follow banking news and developments with great interest and concern. Although much continues to change in the wake of the 2008 financial crisis, Amerisource is open for business and remains independent and unaffected by this legislation. And we will do whatever it takes to ensure American businesses have access to the working capital they need to continue growing. So if you know a growing business that could utilize our lending or back-office outsourcing services, give us a call!