Category: Industry News

Porter Capital Provides Financing to Green Planet Group

Green Planet Group has completed the first step of funding for its Pump Storage Project. Porter Capital agreed to provide the funds to establish a security deposit which will trigger two additional large investments culminating in a total investment of $240 million.

NYIC/TMA Slate Sixth Annual Credit & Bankruptcy Symposium

The New York Institute of Credit and the Connecticut and Northeast chapters of the Turnaround Management Association have teamed up for the Sixth Annual Credit & Bankruptcy Symposium to be held on Thursday and Friday, May 10-11, at Mohegan Sun Resort & Casino in Uncasville, CT.

AloStar Bank of Commerce Celebrates One-Year Anniversary

A year ago, Nexity Bank was acquired by AloStar Bank of Commerce in a loss share agreement with the FDIC, creating a new platform for asset-based lending. Now 12 months later, assets are up more than $80 million, headcount has increased by 40% and tier 1 ratio remains above 19%.

GE Promotes Its Positive Impact Amidst Criticism

General Electric is working to defend its reputation with a recently launched campaign that highlights the company’s altruism and positive impact on its communities. Earlier this month, protesters rallied in front of the company’s Fairfield, CT headquarters.

U.S. Bank Failure Rate Continues to Slow

The FDIC reported that during the first quarter of 2012, a total of 16 U.S. banks failed compared to 26 closures during the same period in 2011. The data shows that the closure rate has dropped by almost 40% compared to a year-ago.