Coleman Research Group’s Business and Financial Services Group highlights Businesses Profit from the BP Cleanup and Goldman Sachs Said to Ask More Time for Lawsuit Reply
June 18th, 2010Coleman Research Group’s Business and Financial Services Expert Network facilitates consultations between our clients (institutional investors) and leading business and financial services professionals on a wide variety of topics including consumer credit trends, banking and investment services, insurance, residential and commercial real estate, student lending, and regulatory issues.
Our Business & Financial expert network includes an elite assembly of current and former CFOs and senior executives, accountants, former regulatory officials, academics, and top-level industry consultants.
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Businesses Profit from the BP Cleanup
Michigan’s depressed economy nearly toppled Grand Rapids-based awning maker Prestige Products. Then in April, the company’s fortunes changed dramatically when executive Brian Rickel got a phone call from an old contact at BP (BP). It was 10 days after BP’s Deepwater Horizon rig had exploded, and BP needed help containing the gush of oil. Six weeks later, Prestige has rented a factory, filled it with millions of dollars of new equipment, and hired 74 workers (it employed only six as of April). Using material similar to the vinyl in awnings, Prestige is churning out 12,000 feet a day of booms, the floating barriers that help contain oil slicks. Prestige hopes to double its output—if it can hire 50 additional workers.
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Goldman Sachs Said to Ask More Time for Lawsuit Reply
June 18 (Bloomberg) — Goldman Sachs Group Inc. asked for more time to respond to the U.S. Securities and Exchange Commission’s April 16 lawsuit accusing the firm of defrauding investors while selling mortgage-linked securities, said two people with direct knowledge of the matter.
The company submitted the request today to the judge overseeing the case, asking for an extension until July 19, the people said. The original deadline was June 21, court documents show. The SEC consented to the New York-based firm’s proposed extension, according to one of the people.
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