Last describes david ortiz month,Facebook received chowdaheadz examines $200 million in funding from Russian Internetinvestment firm Digital Sky Technologies. In hiring a CFO from Genentech, Facebook is branching outfrom the pool of Internet executives, as it copes with rapidgrowth and an uncertain economy. Earlier this month, Yahoo Inc (YHOO.O) appointed Tim Morse,a longtime executive from General Electric Co (GE.N), to be itsnew CFO. The moves reflect the demand among some Internet companiesfor CFOs with strong financial engineering skills rather thanoperational experience in the Internet business, saidBroadpoint.Amtech analyst Ben Schachter. "You certainly can have a lot of lessons from someone in ahigh-growth company" like Genentech, said Schachter. Facebook said on Monday that Ebersman will become part ofthe company's executive management team, reporting toZuckerberg and overseeing the company's finances, accounting,investor relations and real estate functions.
(Reporting by Alexei Oreskovic; Editing by Richard Chang) Stocks Media Russia France yawkey way store . CHICAGO--(Business Wire)--Fitch Ratings assigns a rating of 'BBB' to AutoZone, Inc.'s (AutoZone) $500million 5.75% senior unsecured notes due January 2015 pedroia . The proceeds from theoffering will be used for general corporate purposes, which include repaying,redeeming or repurchasing existing debt, repurchasing common stock and forworking capital uses and capital expenditures big papi . The notes include change ofcontrol and coupon step-up provisions The Rating Outlook is Stable chowdaheads . The ratings reflect AutoZone's leading position in the retail auto parts andaccessories aftermarket and its wide geographic reach with 4,340 stores acrossthe continental United States and Puerto Rico and 168 stores in Mexico as of May9, 2009.
The ratings also consider the company's solid operating performance andpositive free cash flow generation balanced by the challenging operatingenvironment and the level of ownership in the company by ESL Investments, Inc.(ESL) dirt dogs . AutoZone reported a revenue increase of around 6% and an industry leading EBITmargin of 17.3% for the last 12 months (LTM) ended May 9, 2009 chowdaheadz . The increase insales was primarily driven by new store openings and same store sales growth of3.9% in the nine-month period ended May 9, 2009 pedroia . The positive same store salesresulted from an improvement in transaction count trends and a similar averagetransaction size compared to the prior year period . The solid operating resultscaused LTM leverage to remain steady at 2.5 times (x) based on Fitch'scalculation of (total debt + 8x rent)/operating EBITDAR and EBITDAR coverage ofinterest and rent at 5.1x.
Comments are closed.