by The Editors on June 11, 2009
One of the wonderful things about being a public company is that when you need more money you can just sell another little piece off. Callaway did that on Monday when they announced a “preferred stock offering” according to a story on Forbes.com.
Callaway anticipates proceeds of about $119 million, excluding any exercise of the overallotment option. The company plans to use the proceeds to pay off some of its revolving credit line, which it expects will help keep the facility’s current terms and avoid amendments to the agreement.
Presto. . . now why can’t we figure out at way to make $119 million magically appear?
[Link: Forbes.com]
by The Editors on June 1, 2009
Steve Conboy, the CEO of Carslbadistan’s SC BluWood was profiled in the LA Times this weekend in a story titled, “He’s proof that lumbering around can pay off.”
According to the story BluWood “specializes in a lumber treatment that makes wood resistant to termites, mold and fire damage.”
Follow the link for the rest of the story.
[Link: LA Times]
by The Editors on May 31, 2009
by The Editors on May 29, 2009
The Sheraton Carlsbad Resort & Spa which opened on February 25, 2008 has announced that Chris Draper is the new general manager.
Draper is the former Executive Director of Food and Beverage for Mammoth Mountain Ski Resort which includes 28 food and beverage outlets and expansive catering operations. In addition, his position also oversaw the facilitation of the contract for the acclaimed Patina Restaurant Group affiliation with the mountain. . . Prior to that, Draper worked 25 years with the Hyatt Hotel Corporation where he was a general manager and held various food and beverage management positions.
Wonder if Mr. Draper is going to miss all that snow? We certainly do.
[click to continue…]
by The Editors on May 29, 2009
In an arbitration meeting today the Four Seasons’ management company and Broadreach Capital Partners (the owners of the Aviara resort) decided that the entire matter should be continued until the week of June 15, 2009, according to Four Seasons Director of Public Relations Tony Pistillo.
“At the direction of the arbitration panel, we have no further comment,” Pistillo said in an email.
The meetings, set to resolve a dispute in which the resort’s owners are attempting to replace Four Seasons as the property’s management company with the New Jersey based Dolce Hotels and Resorts, came on the heels of the resort’s most visible event of the year, The Wall Street Journal’s D7 | All Things Digital Conference. The event, which featured titans of the digital and media business, brought Carlsbadistan, an unbelievable amount of press.
by The Editors on May 27, 2009
According to a recent tweet, Carlsbadistan resident Tony Hawk was meeting with some T-Mobile people at The Wall Street Journal’s D7 | All Things Digital conference when he ran into Twitter co-founder Evan Williams (@ev).
had a mtg with T-Mobile this morning and look who I ran into: @ev – the guy behind the guy behind the Twitter
Tony is well on his way to being Evan’s next million follower man. . . between them they have 1.5 million followers.
[Link: @tonyhawk]
by The Editors on May 27, 2009
Last night’s headliners at D7 | All Things Digital Conference at The Four Season Aviara were Evan Williams and Biz Stone, the founders of Twitter. The two answered some pretty hard-hitting questions from the Wall Street Journal’s Walt Mossberg and Kara Swisher, but mostly they just said, “We need to do a lot of work on the business” over and over again in very clever, engaging ways.
Click here to watch a highlights video.
[Link: D7 | All Things Digitial]
by The Editors on May 16, 2009
Car Country Carlsbad is featured in a photo for a Reuters wire story today about GM shutting down dealerships. The photo shot by Mike Blake features a row of Hummers at Weseloh Chevrolet with the caption: “New Hummer trucks sit for sale at the Hummer dealership in Carlsbad, California, May 15, 2009.”
General Motors Corp said it would drop about 1,600 U.S. dealers as it struggles to slash billions of dollars in operating costs and debt ahead of an anticipated bankruptcy filing by the end of the month.
We’re hoping Wesloh isn’t on the list.
[Link: Macon Daily]
by The Editors on May 13, 2009
In the Battle of Aviara press release war over The Four Seasons Aviara, the Four Seasons management group has now upped the ante with the longest press release so far which is loaded with shots across the bow of BRCP HEF Hotel Tenant, LLC like this one:
As illogical as it may sound, the Owners have threatened to stop funding operations, including salary payments to employees, yet expect to continue to collect and hold revenues from ongoing operations. Under the management agreement, the Owners are obligated to fund all required working capital, including debt service payments. . . the Owners re-financed the asset in 2006, significantly increasing the debt service significantly and making it impossible for the Resort to service its debt level in the current economic downturn.
That seems to make sense. Follow the jump for the entire release.
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by The Editors on May 13, 2009
Most knew that it was only a formality, but this morning the San Diego Regional Water Quality Control Board met to vote on Poseidon Resources proposed desalination plant in Carlsbadistan’s Aqua Hedionda lagoon. And guess what? It was a unanimous approval according to a Michael Burge story in the San Diego Union-Tribune.
The ruling clears the way for Poseidon Resources to turn 50 million gallons of ocean water a day into drinking water on the grounds of the Encina Power Station at Agua Hedionda Lagoon. . . Peter MacLaggan, Poseidon’s senior vice president, said the decision means the company can begin building the $320 million plant, with the goal of providing water by early 2012. . . The water quality board has required Poseidon to create 55.4 acres of new wetlands in Southern California to provide a nursery for fish and other marine organisms that will be killed in the desalination plant’s processes.
And “progress” marches on.
[Link: San Diego Union-Tribune]
One of the wonderful things about being a public company is that when you need more money you can just sell another little piece off. Callaway did that on Monday when they announced a “preferred stock offering” according to a story on Forbes.com.
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