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Growing High-Tech Hub Offers Alternative to Silicon Beach

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Ventura-based XponentialWorks Doubles Size of Innovation Labs, Opens Facility Focused on Creating New Manufacturing 4.0 Jobs and Tech

VENTURA, Calif.–(BUSINESS WIRE)–XponentialWorks, a venture, advisory and product development company specializing in artificial intelligence, digital manufacturing, 3D printing, robotics and the digital transformation of traditional businesses, today announced the expansion of its Ventura-based Innovation Labs and the opening of a new manufacturing facility that will see its floor space double. The expansion reflects the rapid growth and expansion of XponentialWorks’ portfolio companies as each company is commercializing their products and services. XponentialWorks expects that this expansion will create dozens of new high-tech and Manufacturing 4.0 jobs, and enhance the innovation and manufacturing infrastructure for the benefit of its portfolio companies, including NXT Factory, Nexa3D and Apollo Robotics, to scale their commercial and manufacturing activities.

XponentialWorks was founded by CEO Avi Reichental, a pioneer of 3D printing technology, futurist, serial entrepreneur and inventor. Since its founding in 2015, XponentialWorks has created dozens of high-tech jobs in Ventura as it has steadily built one of the most powerful generative design and additive manufacturing companies, harnessing the power of digital manufacturing and autonomous robotics. With its current expansion, the company expects to create more than 100 jobs within the next year. XponentialWorks is actively recruiting business and engineering professionals and interns, and invites interested candidates to visit the XponentialWorks website to apply – www.xponentialworks.com

To view the media kit click here.

As XponentialWorks portfolio companies commercialize their products, the expanded manufacturing facility brings increased sourcing and supply chain activities to generate new business opportunities for local and regional hardware and software suppliers as well as services and support functions. With this manufacturing space and innovation lab, Reichental is leading the charge to make Ventura County an attractive alternative to Silicon Beach as a new hub for high-tech focused on reviving and expanding the manufacturing space. The Gold Coast offers distinct advantages with lower facility and operational costs while drawing on a large talent base with UC Santa Barbara nearby. The company is expanding its manufacturing operations and looking for additional quality suppliers (For details please contact amir@xponentialworks.com).

“Ventura is quickly becoming the heart of our portfolio companies’ efforts to digitize the future of manufacturing,” said Reichental. “We built our entire ecosystem in Ventura seeking to differentiate from the overcrowded Silicon Beach and Silicon Valley economies and forgo the fierce talent market competition. The announcement of our third expansion in just 24 months underscores the fact that in selecting Ventura, we have selected a region that offers an attractive and qualified talent pool in a highly desirable community. This provides our portfolio companies with significant competitive and economic advantages and the community with coveted high tech jobs and supply chain opportunities.”

XponentialWorks develops technologies designed to transform the future of manufacturing, transportation, and connectivity. By combining the power of mature companies with the innovation and drive of young startups, XponentialWorks is developing a new way to cultivate new technologies that will impact our everyday lives such as self-driving cars, customized medical devices, and drones. XponentialWorks operates by uniting the forces of startups with the experience and deep market knowledge of mature companies. XponentialWorks mentors and invests in the growth and success of the startups, while assisting larger, more mature companies with their own digital transformation.

“Our ongoing growth and expansion validates our initial site selection in Ventura and reflects the growing needs of our portfolio companies and the resilience and endurance of our unique business model,” said Reichental. “Each of our portfolio companies now has greater resources to develop, manufacture and scale their commercialization efforts and more importantly, more opportunity to collaborate and collide with other startups and mature companies that together are developing game-changing solutions to some of society’s biggest challenges.”

About XponentialWorks

XponentialWorks is a venture investment, corporate advisory and product development company, specializing in artificial intelligence, digital manufacturing, 3D printing, robotics, and the digital transformation of traditional businesses. As a curator of leaders in Industry 4.0, the firm has built a unique ecosystem that unites the forces of early-stage companies with the experience and deep market knowledge of mature companies. XponentialWorks mentors and invests in the growth and success of promising early stage companies and acts as an edge organization for the benefit of larger, mid-market companies undertaking digital transformation. Learn more at www.xponentialworks.com.

Contacts

Media Contact

Silicon Valley Communications

Oshy Ellman

+1-914-294-3135

oshy@siliconvpr.com

Josh Turner

+1-917-231-0550

turner@siliconvpr.com

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Business and Management

CORRECTING and REPLACING AM Best Affirms Credit Ratings of Grupo Nacional Provincial S.A.B.

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MEXICO CITY–(BUSINESS WIRE)–Sixth paragraph, last sentence of release should read: As of June 2019, the company continued to post adequate underwriting results, investment yield and net income of MXN 2.4 billion (instead of MXN 2.4 million).

The corrected release reads:

AM BEST AFFIRMS CREDIT RATINGS OF GRUPO NACIONAL PROVINCIAL S.A.B.

AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent), the Long-Term Issuer Credit Rating (Long-Term ICR) of “a” and the Mexico National Scale Rating of “aaa.MX” of Grupo Nacional Provincial S.A.B. (GNP) (Mexico City, Mexico). The outlook of these Credit Ratings (ratings) remains stable.

The ratings reflect GNP’s balance sheet strength, which AM Best categorizes as very strong, as well as its adequate operating performance, favorable business profile and appropriate enterprise risk management.

GNP is the largest domestic insurer within Mexico based on gross written premiums (GWP). The company operates as a composite insurer of life and non-life business; core business segments include life, health and automobile coverage.

Dividend payments, driven by the company’s targets on capital efficiency, have partially restricted AM Best’s view of GNP’s risk-adjusted capitalization in the past. However, in recent years, GNP’s balance sheet strength, as measured by Best’s Capital Adequacy Ratio (BCAR), is very strong, having benefited from additional equity surplus due to changes in statutory accounting at year-end 2016, and positive bottom-line results during 2016-2018.

The additional equity surplus is a consequence of implementing accounting measures based on market value approximations of assets and liabilities. GNP follows conservative practices in terms of its asset-liability management. In addition, the company’s balance sheet strength is reinforced by its good reinsurance program placed with highly rated counterparties, which adequately protects the company’s risk retention. The effectiveness of these practices was demonstrated by the lack of any material impact on the company’s capital position from the September 2017 earthquakes in central Mexico.

During 2018, GNP reported 7.9% growth in GWP, while maintaining profitable business in its core segments. The company’s operating performance remained solid, having benefited from better underwriting performance metrics, and a consistent improvement in the investment income. Policies were aligned to market changes, and the pricing model was improved to gain competitiveness and market share in low risk areas. As of June 2019, the company continued to post adequate underwriting results, investment yield and net income of MXN 2.4 billion.

Positive rating actions could take place if the company is able to maintain its current level of risk-adjusted capitalization while improving its bottom-line results and profitability indicators to levels more in line with highly rated peers. Negative rating actions could take place if the company’s additional equity erodes with a sustained negative operating performance, or if the amount of dividends paid negatively impacts risk-adjusted capitalization to a level that is no longer supportive of the current rating levels.

This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Understanding Best’s Credit Ratings. For information on the proper media use of Best’s Credit Ratings and AM Best press releases, please view Guide for Media – Proper Use of Best’s Credit Ratings and AM Best Rating Action Press Releases.

AM Best is a global credit rating agency, news publisher and data provider specializing in the insurance industry. The company does business in more than 100 countries. Headquartered in Oldwick, NJ, AM Best has offices in cities around the world, including London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

Copyright © 2019 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

Contacts

Olga Rubo, FRM

Financial Analyst
+52 55 1102 2720, ext. 134

olga.rubo@ambest.com

Christopher Sharkey

Manager, Public Relations
+1 908 439 2200, ext. 5159

christopher.sharkey@ambest.com

Alfonso Novelo

Senior Director, Analytics
+52 55 1102 2720, ext. 107

alfonso.novelo@ambest.com

Jim Peavy

Director, Public Relations

+1 908 439 2200, ext. 5644

james.peavy@ambest.com

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Business and Management

EQUITY ALERT: Rosen Law Firm Announces Investigation of Securities Claims Against Live Nation Entertainment, Inc. – LYV

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NEW YORK–(BUSINESS WIRE)–Rosen Law Firm, a global investor rights law firm, announces it is investigating potential securities claims on behalf of shareholders of Live Nation Entertainment, Inc. (NYSE: LYV) resulting from allegations that Live Nation may have issued materially misleading business information to the investing public.

On December 13, 2019, the Wall Street Journal reported that the U.S. Department of Justice (“DOJ”) was preparing to take legal action against Live Nation based on allegations that the company sought to “strong-arm” concert venues into using its market-dominant Ticketmaster subsidiary. Such efforts would violate the terms of a settlement agreement that Live Nation and Ticketmaster reached with the government in 2010 as a condition of their merger. Under that agreement, the DOJ allowed the companies to combine, but required them to abide by conditions meant to preserve competition in the music and ticketing industries.

As a result of this news, Live Nation’s share price fell $5.09 or 7.3% to close at 64.34 on December 13, 2019.

Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by Live Nation investors. If you purchased shares of Live Nation please visit the firm’s website at http://www.rosenlegal.com/cases-register-1741.html to join the class action. You may also contact Phillip Kim of Rosen Law Firm toll free at 866-767-3653 or via email at pkim@rosenlegal.com or cases@rosenlegal.com.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm or on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm.

Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013. Rosen Law Firm has secured hundreds of millions of dollars for investors.

Attorney Advertising. Prior results do not guarantee a similar outcome.

Contacts

Laurence Rosen, Esq.

Phillip Kim, Esq.

The Rosen Law Firm, P.A.

275 Madison Avenue, 40th Floor

New York, NY 10016

Tel: (212) 686-1060

Toll Free: (866) 767-3653

Fax: (212) 202-3827

lrosen@rosenlegal.com
pkim@rosenlegal.com
cases@rosenlegal.com
www.rosenlegal.com

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Business and Management

Ellington Residential Mortgage REIT Announces Dividend for the Fourth Quarter of 2019

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OLD GREENWICH, Conn.–(BUSINESS WIRE)–Ellington Residential Mortgage REIT (NYSE:EARN) (the “Company”) today announced that its Board of Trustees has declared a dividend for the fourth quarter of 2019 of $0.28 per share, payable on January 27, 2020, to common shareholders of record as of December 31, 2019.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not historical in nature and can be identified by words such as “anticipate,” “estimate,” “will,” “should,” “may,” “expect,” “project,” “believe,” “intend,” “seek,” “plan” and similar expressions or their negative forms, or by references to strategy, plans, or intentions. For example, our results can fluctuate from month to month and quarter to quarter depending on a variety of factors, some of which are beyond our control and/or difficult to predict, including, without limitation, changes in interest rates, changes in default rates and prepayment speeds, and other changes in market and economic conditions. Our actual results may differ from our beliefs, expectations, estimates, and projections and, consequently, you should not rely on these forward-looking statements as predictions of future events. Furthermore, forward-looking statements are subject to risks and uncertainties, including, among other things, those described under Item 1A to the Company’s Annual Report on Form 10-K filed on March 8, 2019, which can be accessed through the link to our SEC filings under “For Our Shareholders” on our website (www.earnreit.com) or at the SEC’s website (www.sec.gov). Other risks, uncertainties, and factors that could cause actual results to differ materially from those projected may be described from time to time in reports we file with the SEC, including reports on Forms 10-Q, 10-K and 8-K. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

About Ellington Residential Mortgage REIT

Ellington Residential Mortgage REIT is a mortgage real estate investment trust that specializes in acquiring, investing in and managing residential mortgage- and real estate-related assets, with a primary focus on residential mortgage-backed securities for which the principal and interest payments are guaranteed by a U.S. government agency or a U.S. government-sponsored enterprise. Ellington Residential Mortgage REIT is externally managed and advised by Ellington Residential Mortgage Management LLC, an affiliate of Ellington Management Group, L.L.C.

Contacts

Investors:

Ellington Residential Mortgage REIT

Investor Relations

(203) 409-3773

info@earnreit.com
or

Media:

Amanda Klein or Kevin FitzGerald

Gasthalter & Co.

for Ellington Residential Mortgage REIT

(212) 257-4170

Ellington@gasthalter.com

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