Brink’s Co.
Brink’s said it entered a new $85 million credit agreement with the Royal Bank of Scotland.
CarMax
CarMax said it plans to open six stores between now and the first quarter of its fiscal year 2013. The stores will be in Escondido, Calif.; North Attleborough, Mass.; Chattanooga, Tenn.; Bakersfield, Calif.; Lancaster, Pa.; and Nashville, Tenn. CarMax also said it expects to open between eight and 10 stores during the fiscal year that ends Feb. 28, 2013.
In its fiscal 2012 first quarter report released this week, CarMax said it opened two used car superstore locations, one in Baton Rouge, La., and one in Lexington, Ky.
The company also disclosed that it might have to repurchase $650 million in asset-backed notes that one of its subsidiaries inadvertently sold in March while under an expired registration statement. The company said its CarMax Auto Funding LLC subsidiary is conducting a rescission offer to buy back the notes that were sold by its CarMax Auto Owner Trust. CarMax said it believes it will have access to sufficient funds to pay for the repurchases. The repurchases will occur only if the original buyers of the notes opt in to the rescission offer.
CarMax also released its first quarter earnings, reporting $2.68 billion in sales, up from $2.26 billion in the same period a year ago. It sold 196,000 vehicles during the quarter, made up mostly of 108,500 used vehicles. That’s up from 167,000 a year ago. The average selling price of its used vehicle sales during the quarter was $18,902, compared with $17,964 a year before. This all led to net earnings of $126.3 million for the quarter, up from $101.1 million.
Community Bankers Trust Corp.
Chief Credit Officer Thomas Townsend acquired 3,500 shares $1.26 each or $4,410. He now owns 10,000 shares.
Dominion Resources
CEO Thomas Farrell received 1,044 restricted shares at no cost as part of Dominion’s incentive compensation plan for executives. He directly owns more than 869,000 shares of Dominion stock.
Owens & Minor
Mark Van Sumeren sold 6,667 shares for $32.88 each or a total of $219,210. The sales were part of a previously announced trading plan that allows Van Sumeren to sell a certain number of his shares within a set amount of time.
Universal Corp.
Universal released its preliminary proxy statement disclosing the total compensation packages paid to its top executives for 2011.
Chairman, president and CEO George Freeman III received $3.93 million in total compensation, down from $3.97 million in 2010. His 2011 pay includes a $775,000 base salary, $700,000 in stock awards, $1.12 million in incentive pay and other forms of compensation.
COO Keith Brewer received $3.39 million in total pay, including a $545,000 base. His 2011 total jumped from $2.86 million in 2010.
CFO David Moore’s total pay package was worth $2.67 million, up from $2.22 million the previous year. His 2011 base salary was $405,000, up from $370,000.
William Coronado, a vice president, received a total pay package of $1.65 million, up from $1.37 million. His base was $288,000.
Ray Paul, an executive vice president at the company’s Universal Leaf Tobacco Co., received $1.74 million in total compensation for 2011. That includes a $317,000 base salary.
Universal also announced that its annual shareholders meeting would be Aug. 4 at its corporate headquarters on Forest Hill Avenue in Richmond.
Brink’s Co.
Brink’s said it entered a new $85 million credit agreement with the Royal Bank of Scotland.
CarMax
CarMax said it plans to open six stores between now and the first quarter of its fiscal year 2013. The stores will be in Escondido, Calif.; North Attleborough, Mass.; Chattanooga, Tenn.; Bakersfield, Calif.; Lancaster, Pa.; and Nashville, Tenn. CarMax also said it expects to open between eight and 10 stores during the fiscal year that ends Feb. 28, 2013.
In its fiscal 2012 first quarter report released this week, CarMax said it opened two used car superstore locations, one in Baton Rouge, La., and one in Lexington, Ky.
The company also disclosed that it might have to repurchase $650 million in asset-backed notes that one of its subsidiaries inadvertently sold in March while under an expired registration statement. The company said its CarMax Auto Funding LLC subsidiary is conducting a rescission offer to buy back the notes that were sold by its CarMax Auto Owner Trust. CarMax said it believes it will have access to sufficient funds to pay for the repurchases. The repurchases will occur only if the original buyers of the notes opt in to the rescission offer.
CarMax also released its first quarter earnings, reporting $2.68 billion in sales, up from $2.26 billion in the same period a year ago. It sold 196,000 vehicles during the quarter, made up mostly of 108,500 used vehicles. That’s up from 167,000 a year ago. The average selling price of its used vehicle sales during the quarter was $18,902, compared with $17,964 a year before. This all led to net earnings of $126.3 million for the quarter, up from $101.1 million.
Community Bankers Trust Corp.
Chief Credit Officer Thomas Townsend acquired 3,500 shares $1.26 each or $4,410. He now owns 10,000 shares.
Dominion Resources
CEO Thomas Farrell received 1,044 restricted shares at no cost as part of Dominion’s incentive compensation plan for executives. He directly owns more than 869,000 shares of Dominion stock.
Owens & Minor
Mark Van Sumeren sold 6,667 shares for $32.88 each or a total of $219,210. The sales were part of a previously announced trading plan that allows Van Sumeren to sell a certain number of his shares within a set amount of time.
Universal Corp.
Universal released its preliminary proxy statement disclosing the total compensation packages paid to its top executives for 2011.
Chairman, president and CEO George Freeman III received $3.93 million in total compensation, down from $3.97 million in 2010. His 2011 pay includes a $775,000 base salary, $700,000 in stock awards, $1.12 million in incentive pay and other forms of compensation.
COO Keith Brewer received $3.39 million in total pay, including a $545,000 base. His 2011 total jumped from $2.86 million in 2010.
CFO David Moore’s total pay package was worth $2.67 million, up from $2.22 million the previous year. His 2011 base salary was $405,000, up from $370,000.
William Coronado, a vice president, received a total pay package of $1.65 million, up from $1.37 million. His base was $288,000.
Ray Paul, an executive vice president at the company’s Universal Leaf Tobacco Co., received $1.74 million in total compensation for 2011. That includes a $317,000 base salary.
Universal also announced that its annual shareholders meeting would be Aug. 4 at its corporate headquarters on Forest Hill Avenue in Richmond.