Receives award
Steve Brosemer, owner of GeoTech, Inc., Emporia, was presented with the Head Chainman Award by the Kansas Society of Land Surveyors at the Society’s 2006 Annual Meeting held in Pittsburg. The Head Chainman Award is presented on special occasions for exemplary leadership and service to the profession of Land Surveying.
Brosemer was instrumental in the 150th Anniversary historical celebrations of the First Guide Meridian East in 2005 and of the 6th Principal Meridian in 2006. The Kansas Society of Land Surveyors has only presented the award 9 times in the organization’s 50 years. Mr. Brosemer was previously awarded the Professional Surveyors Association of Nebraska’s Head Chainman Award in 2005.
Attend conference
Lana Richardson, the 2006 Woman of the Year for the Emporia chapter of the American Businesswoman’s Association, and chapter president Janis Meyer attended the organization’s national leadership conference in September in Anaheim, Calif.
At the conference, the two attended seminars on leadership and marketing.
Harrah’s for sale
LAS VEGAS — Harrah’s Entertainment Inc., the world’s largest casino company, said Tuesday that its board has accepted a $17.1 billion buyout offer from two private equity groups.
The board approved a $90 a share buyout offer from Apollo Management Group and Texas Pacific Group and recommended shareholder approval even as the company reserved the right to pursue even higher bids for about a month.
The buyers are also assuming $10.7 billion in debt in the deal.
It would be the largest going-private deal ever for a publicly held casino company and the seventh biggest leveraged buyout deal of any kind of company.
The $90 a share buyout offer was a 36 percent premium over Harrah’s closing price on Sept. 29. That was the last trading day before the casino company announced Apollo Managment and Texas Pacific had offered $81 per share Oct. 2 to take the company private.
Circuit City down
RICHMOND, Va. — Consumer electronics retailer Circuit City Stores Inc. said this week it swung to a loss in the third quarter as deep discounts on flat-panel televisions and computer hardware and software cut into profit margins. It also lowered its full-year sales outlook and shares fell more than 16 percent.
The nation’s second biggest consumer electronics chain after Best Buy Co. reported a loss of $16 million, or 9 cents per share, in the three months ended Nov. 30. Analysts polled by Thomson Financial were looking for a profit of 5 cents per share.
A year ago, Richmond-based Circuit City earned $10.1 million, or 6 cents per share.