| Acoustik Kafe: Owner enjoys 'coffee, people and jazz'
Neal, an attorney, sold his jazz club in June 2006 and didn't plan to open another business right away. "I told my friends and my kids, 'If I think about anything entrepreneurial, slap me." He was busy with his law practice and didn't think he had time for a business. That is until he heard space was available on West Main Street. They didn't have to do anything. The idea for the club jolted Neal more than a triple espresso. "This is conducive with what I enjoy -- coffee, people and jazz music." His friend, artist Ronnie Phillips, restored the building at 1015 W. Main St. which once housed a bakery. It has hardwood floors, exposed brick and a beveled glass door that bears the guitar logo. Perfect for a coffeehouse, Neal thought.
Fifth Third Bancorp Reports 2007 Earnings of $2.03 Per Diluted Share
Fifth Third Bancorp Reports 2007 Earnings of $2.03 Per Diluted Share Fifth Third Bancorp (NASDAQ: FITB) today reported 2007 earnings of $1.1 billion, or $2.03 per diluted share, compared with $1.2 billion, or $2.13 per diluted share in 2006. Reported fourth quarter 2007 earnings were $38 million, or $0.07 per diluted share, compared with $325 million, or $0.61 per diluted share in the third quarter of 2007 and $66 million, or $0.12 per diluted share, for the same period in 2006. Reported results included a non-cash estimated charge of $155 million, both pre-tax and after-tax, or $0.29 per share, to lower the current cash surrender value of one of our Bank-Owned Life Insurance ("BOLI") policies. Additionally, quarterly results included a non- cash charge of $94 million pre-tax, or $0.12 per share after-tax, related to Visa members' indemnification of estimated future litigation settlements, as well as $8 million pre-tax, or $0.01 per share after-tax, in acquisition- related costs primarily associated with the acquisition of R-G Crown, which closed in early November.
VeriFone to Offer Managed Payment Services to Mexico Merchants
VeriFone Holdings, Inc. (NYSE: PAY) today announced formation of VeriFone Access to provide merchant hosted services for managing electronic payments, beginning in Mexico. VeriFone Access was formed with VeriFones investment and in partnership with Tienda-kit, an innovative Mexican third-party acquirer and merchant services provider, which now operates as VeriFone Access. VeriFone Access will offer a variety of merchant payment services in Mexico and other emerging economies. The companys first offering will be a hosted managed service platform based on a proprietary transaction handling technology and on VeriFones PAYware software products. Managed services are an increasingly important component of VeriFones strategy to broaden acceptance of electronic payment and increase the delivery of value added services, said Douglas G.
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