Brink’s (BCO)
The armored transport giant said it is changing the way it calculates the exchange rate between the U.S. dollar and Venezuelan bolivars. That will force it to write down “substantially all of its bolivar-denominated net monetary assets” and will result in a first quarter charge. At December 31, 2013, bolivar-denominated net monetary assets totaled $120 million. The company has been operating in Venezuela for more than 40 years.
CarMax (KMX)
Thomas Stemberg, a director, exercised options for 5,285 shares at $25.67 per share. He then sold those shares at market price for $42.63 each for a total sale of $225,299.
Community Bankers Trust (ESXB)
The parent company of Essex Bank said that W. Thomas Townsend, the bank’s chief credit officer, will retire June 30. Patricia M. Vogel, currently the bank’s senior credit officer, will succeed Townsend as Chief Credit Officer effective July 1. Townsend joined Essex in January 2011 and had previously worked at the Federal Reserve Bank of Richmond, in addition to being a commercial banker at other institutions. Vogel has been with the company since 2009.
Dominion Resources (D)
The Partnership for Policy Integrity, an environmental group and Dominion shareholder, submitted a letter for shareholders to vote on a resolution calling for the company to conduct a study examining the climate and investment risks of its use of biomass energy.
“Dominion faces significant financial, operational and reputational risks as a result of its carbon-intensive bioenergy investments,” the group said. It wants a report prepared by Nov. 1, at reasonable cost and excluding proprietary information.
It says Dominion’s disclosures on the matter are inadequate. It argues that Dominion faces risks from emerging climate-change related policies and legislation that may affect the viability of investments in biomass energy, which are largely wood-burning power plants. Those operations depend on continued subsidies and tax credits for viability, the group said. Those investments also exacerbate climate change, it argued.
James River Coal (JRCC)
As it works through Chapter 11 bankruptcy, the troubled coal company said it received notice that its stock will be delisted from the Nasdaq Stock Market beginning today. It had previously been warned of a potential delisting because its stock price closed at below $1 per share for more than 30 consecutive days. JRC said it does not intend to appeal Nasdaq’s decision. It said its stock may be eligible for quotation on the OTC Bulletin Board once its delayed 2013 annual report is filed.
The company also said that it received an imminent danger order from the federal government for its Blue Diamond Coal Co. subsidiary in Leslie County, Ky. The order came from an alleged electrical pole wire was broken and swaying near an energized high voltage transmission line. The company said the line was disconnected and the wire was removed. The order was terminated and no injuries occurred as a result.
Brink’s (BCO)
The armored transport giant said it is changing the way it calculates the exchange rate between the U.S. dollar and Venezuelan bolivars. That will force it to write down “substantially all of its bolivar-denominated net monetary assets” and will result in a first quarter charge. At December 31, 2013, bolivar-denominated net monetary assets totaled $120 million. The company has been operating in Venezuela for more than 40 years.
CarMax (KMX)
Thomas Stemberg, a director, exercised options for 5,285 shares at $25.67 per share. He then sold those shares at market price for $42.63 each for a total sale of $225,299.
Community Bankers Trust (ESXB)
The parent company of Essex Bank said that W. Thomas Townsend, the bank’s chief credit officer, will retire June 30. Patricia M. Vogel, currently the bank’s senior credit officer, will succeed Townsend as Chief Credit Officer effective July 1. Townsend joined Essex in January 2011 and had previously worked at the Federal Reserve Bank of Richmond, in addition to being a commercial banker at other institutions. Vogel has been with the company since 2009.
Dominion Resources (D)
The Partnership for Policy Integrity, an environmental group and Dominion shareholder, submitted a letter for shareholders to vote on a resolution calling for the company to conduct a study examining the climate and investment risks of its use of biomass energy.
“Dominion faces significant financial, operational and reputational risks as a result of its carbon-intensive bioenergy investments,” the group said. It wants a report prepared by Nov. 1, at reasonable cost and excluding proprietary information.
It says Dominion’s disclosures on the matter are inadequate. It argues that Dominion faces risks from emerging climate-change related policies and legislation that may affect the viability of investments in biomass energy, which are largely wood-burning power plants. Those operations depend on continued subsidies and tax credits for viability, the group said. Those investments also exacerbate climate change, it argued.
James River Coal (JRCC)
As it works through Chapter 11 bankruptcy, the troubled coal company said it received notice that its stock will be delisted from the Nasdaq Stock Market beginning today. It had previously been warned of a potential delisting because its stock price closed at below $1 per share for more than 30 consecutive days. JRC said it does not intend to appeal Nasdaq’s decision. It said its stock may be eligible for quotation on the OTC Bulletin Board once its delayed 2013 annual report is filed.
The company also said that it received an imminent danger order from the federal government for its Blue Diamond Coal Co. subsidiary in Leslie County, Ky. The order came from an alleged electrical pole wire was broken and swaying near an energized high voltage transmission line. The company said the line was disconnected and the wire was removed. The order was terminated and no injuries occurred as a result.