Newtek CEO Barry Sloane appeared on Fox News Live, earlier today, to discuss the impact of ObamaCare on small businesses. Mr. Sloane communicated with host Jo Ling Kent, that the conundrum that has become health insurance may best be resolved by taking the market out of the hands of both corporations and government alike, instead allowing the responsibility and decisions to fall upon the individual as a consumer. Click here to watch the video.
While Twitter going public is probably more substantial than mere “household news” in terms of the general public’s awareness, its out-of-the-box value is equally worthy of mention. Before it rolled out, it was estimated (by the Company itself) to be worth about $26 per share. It opened closer to $45 and closed at just about $50 after its first day of trading.
Noteworthy, to say the least.
Surely, IPOs are designed to drive prices beyond “actual value” on the first trading day. That is to be expected. But could there be a connection to Facebook’s current position around $50 that may serve to stabilize Twitter’s market value? (The two are viewed similarly by the public, even if not by themselves.)
Newtek Business Services, Inc. reported today its financial results for the three and nine months ended September 30, 2013.
2013 Financial Highlights:
- For the third quarter of 2013, diluted earnings per share (“EPS”) were $0.05; an increase of 66.7% over $0.03 in the third quarter of 2012.
- For the nine months ended September 30, 2013, EPS was $0.14; an increase of 40.0% over $0.10 for the nine months ended September 30, 2012.
- For the third quarter of 2013, operating revenues were $34.8 million; an increase of 3.9% over $33.5 million in the third quarter of 2012.
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Newtek Business Services, Inc. Reports 67% Increase In Diluted Earnings Per Share (“EPS”) To $0.05
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Newtek today announced that its subsidiary SBA-licensed 7(a) non-bank lender, Newtek Small Business Finance, Inc. (“NSBF”), has entered into a letter of commitment for a new revolving financing facility, totaling $75 million, with Goldman Sachs Bank USA. This revolving facility has a four-year term and will enable the Company to continue to grow its SBA 7(a) lending business. The facility will be set up using a special purpose entity to hold collateral, with only a limited guarantee from NSBF. The majority of the proceeds will be used to retire the current line of credit from Capital One Bank, N.A.
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Newtek Enters into $75 M Letter of Commitment for Revolving Credit with Goldman Sachs
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We attend meetings in the hopes of exchanging information and generating fresh ideas. But all too often, we emerge from such meetings dazed by the weight of useless data and demoralized by the waste of our time.
How can you avoid getting sucked into the black hole of useless meetings? Here are tips for planning and conducting meetings that actually produce value and move an initiative forward to its ultimate completion.
Credit cards might disappear, but the primary security standard that protects them seems unlikely to suffer the same fate, even as the payments industry changes.
According to a report from ISO and Agent, security experts and industry observers believe that the industry will always need the Payment Card Industry (PCI) data security standards, which safeguards what businesses must put in place to accept credit and debit cards.
As long as cardholder data is being transferred, steps to guarantee the info is secure will need to be used. ISOs will always need to continue to facilitate this process for all their clients.
Newtek announced today that it has been invited to present at the Craig-Hallum 2013 Alpha Select Conference at the Convene Conference Center in New York City on Thursday, September 26, 2013 at 12:15PM EDT in the Nolita Room. Barry Sloane, President and CEO, will be available during the day for one-on-one meetings. To schedule a meeting, please contact your Craig-Hallum sales representative. The live and archived audio webcast of the presentation will be available in the ‘Events & Presentations’ section of the Investor Relations portion of Newtek’s corporate website at http://investor.newtekbusinessservices.com/events.cfm.
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Mobile security providers may get a boost this year as bring your own device (BYOD) initiatives increase among enterprises, Gartner reports.
While consumers aren’t interested in paying for antivirus software protection on their mobile devices, according to Gartner, use of personal devices at work may provide new opportunities for security providers.
“The use of personal devices at work matches high-enterprise demand for solutions to the BYOD security problem,” said Ruggero Contu, research director at Gartner. “This presents providers of both consumers and enterprise endpoint security products with an opportunity to enforce security to private devices and potentially expand their footprint into the consumer space.”
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Gartner Says BYOD Adoption Will Drive New Mobile Security Provider Opportunities
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The IRS has finally taken one more step to clarify what will constitute the Individual Mandate provision of the Affordable Care Act. The mandate, which requires all Americans to obtain health insurance, had gone mostly undefined until now. As we approach the 30 day mark to the opening of the “online marketplace” also known as exchanges and the 100 day mark of Obamacare Implementation, American consumers and small businesses now have a clearer picture as to what will be required on January 1, 2014.
1. First, the penalty has been “remarketed” as a shared responsibility payment. This still requires those that do not qualify for an exemption or tax subsidies based on income, to obtain health insurance that meets minimum essential coverage.
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Individual Mandate Clarifications For Small Business
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Prevention will always be your best line of defense against cyber criminals. Like any other criminal activity, those most vulnerable tend to be the first targeted.
Ideally, you’ll want to work with a IT security expert to assess your specific needs and vulnerabilities, but there are certainly some universal steps you can take that will greatly reduce your likelihood of attack.
Prevention, Step One: Education and Training
You wouldn’t let your unlicensed employees drive your company van, would you? Like driving, you and any employees that have access to your business network must have a foundational education before taking the wheel.