| AXA Private Equity acquires majority stake in FLEX Group
AXA Private Equity has acquired a majority stake in FLEX Group, a German manufacturer of hand-held power tools, from New York-based investment advisor GSO Capital Partners. The remaining stake has been bought by the current management team. Founded in 1922, FLEX is a developer and manufacturer of professional-grade power tools used primarily in metal-working, stone-working, masonry and concrete. FLEX employs 230 people and had a turnover of around 60m in 2006, according to a statement. The company recently set up an additional sales entity in the US.
Prior to its acquisition by GSO Capital Partners in November 2005, FLEX was part of the Black & Decker Group.
AXA Private Equity is an AXA Investment Managers company that manages and advises private equity funds with assets in excess of 10bn.
Claymore/Zacks Yield Hog Declares $0.32 Distribution Per Share
LISLE, Ill.--(BUSINESS WIRE)--Claymore Advisors, LLC, is pleased to announce that today the Claymore/Zacks Yield Hog ETF (AMEX:CVY) declared its quarterly distribution amount of $0.32 per share. The Fund's distribution consists of qualified dividend income; taxable income; dividends received from publicly-traded partnerships, such as master limited partnerships ("MLPs"); and amounts representing the full dividend yield net of expenses on the underlying investment securities as if the Fund owned the underlying investment securities for the entire dividend period. As a result, a portion of this distribution will be classified as return of capital. This distribution is payable on March 30, 2007 to holders of record as of March 28, 2007. The ex-dividend date is March 26, 2007.
Are You Really in Good Hands?
You have to hand it to the insurance industry. Tying an agent's sales production to his or her family's continuing health insurance is a great way to generate sales. The benefit for the agent's clients, however, is less obvious. A recent report in Investment News exposes the industrywide practice of linking the sale of proprietary life-insurance products to group health-insurance eligibility and other employment benefits. For example, National Association of Securities Dealers bans quotas on the sale of investment products, including variable annuities and variable life insurance. However, the restriction on sales quotas does not exist on other insurance products that don't have an investment component, such as term life. A former Lincoln National (NYSE: LNC) advisor stated that he was required to generate $50,000 annually in direct commissions to remain eligible for group health benefits.
Onstream Media to Acquire Infinite Conferencing
POMPANO BEACH, Fla., March 26 /PRNewswire-FirstCall/ -- Onstream Media Corporation , a leading online service provider of live and on- demand, digital media communications and applications, announced today that it has signed a definitive merger agreement with Infinite Conferencing, a national provider of audio and Web conferencing, webinar and webcasting services. The merger has been approved by the Board of Directors of both companies subject to certain closing conditions, including completion of an audit of Infinite Conferencing's financial statements and is expected to close during the third quarter .
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