| ARB in talks to establish the Banking Mediator
Individuals or small firms that suffered a loss or encountered other problems after resorting to a bank's services will have the possibility to receive a maximum compensation worth the equivalent of 50,000 euros on the basis of a decision issued by the Banking Mediator, an institution that is likely to be set up this autumn.
According to the project discussed by the members of the Romanian Banking Association (ARB), the mediation bureau will be authorised to deal with complaints related to all the products and services provided by the lending institutions taking part in its creation.
The service will be free of charge and is meant to improve the image of the banking system in the eyes of the public, as well as shorten the interval needed for the sorting out of complaints by avoiding court procedures when damages are not higher than 50,000 euros.
Robert G. Friedman and Patrick Wachsberger Team with Merrill Lynch ...
LOS ANGELES--(BUSINESS WIRE)--Robert G. Friedman, the former Vice Chairman and Chief Operating Officer of Paramount Pictures Motion Picture Group, and Patrick Wachsberger, Chief Executive Officer and President of Summit Entertainment L.P., have closed a financing deal led by Merrill Lynch, along with a consortium of investors, that results in the creation of a new worldwide theatrical motion picture production and distribution studio - Summit Entertainment, LLC. Under the terms of the transaction, Summit Entertainment LLC will have access to in excess of $1 Billion for development, production, acquisition, marketing and distribution of filmed entertainment across all media. Summit Entertainment LLC will become a full service domestic distributor handling all aspects of marketing and distribution for both its own internally developed motion pictures as well as acquired pictures.
High court rules against Bridgeport in arena case
(Bridgeport-AP) _ The state Supreme Court has ruled against the city of Bridgeport in a dispute involving costs overruns for the Arena at Harbor yard. The high court Monday sided with a Norwich contractor in a dispute over $6 million in extra costs for the project touched by the city's corruption scandal. The city had refused to pay the money to CR Klewin Northeast, claiming that cost overruns were caused by the corruption scandal that brought down former Mayor Joseph Ganim. The contractor claimed it was legitimately owed the money and won the case through arbitration. The high court ruling Monday noted that the city didn't raise the issue of corruption until after 20 days of hearings had been conducted by the arbitration board which ruled in favor of Klewin.
Chrysler labor case headed to arbitration
Hungness said she withdrew her charges in February after learning one of the two charges filed by UAW Local 1268 was heading to arbitration.
I am satisfied with the NLRBs decision. They assured me they are watching this very closely, she said. I couldnt see spending more of the governments money on this.
The case going to arbitration was filed by UAW Local 1268 President Tom Littlejohn in October and alleges DaimlerChrysler entered into an agreement with the International UAW, DaimlerChrysler Department, which clearly changed and/or modified the parties collective bargaining agreement. However, the parties did not attempt to obtain approval for this change and/or modification, in writing or otherwise.
An earlier unfair labor practice charge filed by Littlejohn in July included the International UAW in the complaint, but Littlejohn withdrew that charge.
Holiday Classiñ and Kora hold negotiation on amalgamation
Holiday Classic (a retail network in Novosibirsk) and Kora OJSC hold negotiation on amalgamation, said in Kora's announcement.
Holiday Classic was founded in 2000. It presently comprises 20 supermarkets in Novosibirsk, 3 - in Tomsk, and 4 - in Barnaul.
In August 2006, Holiday Classic united with another chain of supermarkets - Sibiriada. The joint proceeds for the year are expected at $350 mln as minimum against $278 mln in 2005. It is planned that the proceeds of the united company will grow from $350 mln to $3 bn within 5 years.
Kora is a parent enterprise of a reteil network in Kemerovo region. Nowadays the network includes 20 shops with 25 thd m2 total area.
Company's net profit made 3.2 mil in 2006, EBITDA - 112.6 mil rub.
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