A+ R A-

California

Siebert Brandford Shank Makes Wall Street History

E-mail Print PDF

1st Minority Owned Firm in Wall Street History to Rank in Top 10 Among Municipal Bond Underwriters

Siebert Brandford Shank and Co. LLC (www.sbsco.com) has earned the distinction as the 1st minority owned firm in the history of Wall Street to reach the ranks of the top 10 municipal bond underwriters.

The firm founded in 1996 was ranked 8th among all firms as a Senior Manager of negotiated new issues, according to the Bond Buyer. In 2010, the firm participated in public financings worth an aggregate value of $100.9 billion.

SBSCO, with offices in 20 domestic cities is the fastest growing firm in municipal underwriting, senior managing $9.14 billion of municipal bonds in 2010, up 55.5% from 2009 ($5.88 B) and up 181.3% from 2008 ($3.25 B). Over the past year SBSCO has added some 30 municipal bond professionals to help expand its growing business.

“Siebert Brandford Shank’s historic entry into the national Top 10 rankings among major municipal underwriters is truly a reflection of the talent, intelligence and experience that our team brings to the table. The major bond financings we have worked on this past year are financing the next generation of airports, roads, bridges, highways, water and sewer facilities that create jobs and rebuild our nation’s aging and deteriorating infrastructure. More and more municipalities recognize our expertise in managing large and complex project financings,” said SBSCO President and CEO Suzanne Shank.

Among major benchmarks the firm was ranked:

# 2 for Average Deal Size ($207.7 Million) second only to Goldman Sachs;

#4 in Airport issues;

#5 in General Purpose Muni Issues;

#7 in Transportation issues;

#7 Among Co-Managers of Muni Issues;

# 8 in Build America Bonds;

#8 in Negotiated Deals;

#10 in All Issues (Negotiated and Competitive);

#1 Among all minority and women businesses on Wall Street, a position the firm has held since 1998.

“What is most significant is the sheer magnitude, importance and size of the deals that Siebert Brandford Shank managed in 2010” said SBSCO Chairman Napoleon Brandford. “Not only is Siebert Brandford Shank the fastest growing senior manager of municipal bond offerings on Wall Street, but our average deal size was second to only Goldman Sachs. In the transportation sector Siebert Brandford Shank stands out having led some of the nation’s most prominent bond issues.”

SBSCO’s record setting 2010 included senior managing some of the nation’s largest municipal bond issuances:

State of California General Obligations Bonds - $4.5 billion Issue (Joint Bookrunner);

City of Chicago general obligation bonds - $793 million;

Michigan Finance Authority - $743 million;

City of New York General Obligation Bonds – $675 million;

State of Connecticut General Obligation Bonds - $567 million (Joint Bookrunner);

New York State Environmental Facilities Corporation - $329 million;

Prominent 2010 SBSCO Transportation and Airport Led Municipal Bond Issues:

Los Angeles International Airport senior lien bonds revenue bonds - $930 million;

San Diego County Airport - $573 million;

Massachusetts Port Authority - $317 million;

Illinois Tollway - $279 million (Joint Bookrunner);

Pennsylvania Turnpike - $244 million;

Wayne County Airport - $231 million;

Clark County Airport - $132 million;

Final 2010 Rankings of the Top Ten Negotiated Senior Managers on Wall Street Include (According to The Bond Buyer):

Citi Bank of America

Merrill Lynch

JP Morgan Securities LLC

Morgan Stanley

Goldman Sachs & Co.

Barclays Capital

RBC Capital Markets

Siebert Brandford Shank & Co.

Wells Fargo & Co.

Morgan Keegan & Co. Inc.

Siebert Brandford Shank & Co., LLC is a national underwriter of municipal bonds with offices in 20 cities.

The firm has provided municipal underwriting and financial advisory services to state and local governments across the nation for the funding of education, housing, health services, transportation, utilities, capital facilities, redevelopment and general infrastructure since 1996. The firm maintains headquarters in Oakland and New York City with offices in Anchorage, Atlanta, Baton Rouge, Chicago, Dallas, Detroit, Fort Worth, Fort Lauderdale, Honolulu, Houston, Los Angeles, Miami, Newark, Philadelphia, Sacramento, San Antonio, San Diego, Seattle, St. Louis, Washington, DC.

NAACP Honors Memory of Dr. Martin Luther King, Jr.

E-mail Print PDF

The NAACP honors the memory of Dr. Martin Luther King, Jr. on the federal holiday celebrating his life and achievements.

Dr. King is considered the formative figure in the modern fight for civil rights. He led numerous boycotts, marches and rallies in the 1950’s and 1960’s, including the historic 1963 March on Washington for Jobs and Freedom. In 1957 Dr. King earned the Spingarn Medal, the NAACP’s most prestigious honor.

“Dr. King’s legacy looms large in the work of all those who follow him in his cause,” stated NAACP Chairman Roslyn M. Brock. “Dr. King dedicated his life to fighting injustice in all forms. With that attitude, he grew a small social movement in Birmingham, Alabama into a national crusade that changed the course of our country’s history. His example reminds us how important it is to do what we can, no matter how small, to make the world a better place.”

“Dr. King's crusade was deeply rooted in the gospel of Jesus Christ, the universal truths that unite the world's great belief systems, and the American Dream,” stated President and CEO Benjamin Todd Jealous. “He was a man of vision, conviction, and courage. Just as his work was inspired by the NAACP, we are inspired by his example. We will finish his work to eliminate economic exploitation and racial injustice. As Dr. King reminds us in his Letter from a Birmingham jail, only in embracing fairness and opportunity for all can we ensure America will finally be America for all Americans."

Founded in 1909, the NAACP is the nation's oldest and largest civil rights organization. Its members throughout the United States and the world are the premier advocates for civil rights in their communities, conducting voter mobilization and monitoring equal opportunity in the public and private sectors.

'Way Black When' to Air on TV One

E-mail Print PDF

In celebration of Black History Month, TV ONE is presenting “Way Black When,” a reflection of black culture in the 70’s, 80’s and 90’s, featuring countless beloved actors, producers and musical artists from those eras. The star-studded one-hour talk/variety show will air weeknights at 10PM ET/PT throughout the four weeks of February, beginning on Monday, January 31.

Host of the 90’s week, Chris “Kid” Reid, along with stars like Michael Jai White, Jayne Kennedy, Ernest Thomas, Kurtis Blow, Anna Maria Horseford, Glen Turman, Tatyana Ali, Christopher "Play" Martin, and Malik Yoba are available for interview, depending on scheduling. They can talk about their experience on the show, other stars they met during taping, what they are doing now, the importance of Black History Month, and more.

Celebrate the Legacy of Dr. King at CAAM

E-mail Print PDF

Join legendary singer Freda Payne and actor Jeffrey Anderson-Gunter at CAAM to celebrate the legacy of Dr. Martin Luther King, Jr., Sunday, January 16 and Monday, January 17, 2011.

The two-day celebration will feature live performances representative of the diverse cultures in Los Angeles.

On Target Sundays at CAAM, January 16, the program “One Dream, A National Influence, A World of People,” includes performances by: recording artist Abraham McDonald (winner of the 2009 Oprah Winfrey Karaoke Challenge); Lula Washington Dance Academy; speaker Iyanla Vanzant; Mexican music and dance group Las Cafeteros; spoken word artist Azure Antoinette; Japanese drummers from the Taiko Center of Los Angeles; and dancers of Swing Brazil.

Jamaican born actor Jeffrey Anderson-Gunter serves as co-host with singer Freda Payne, with the live program beginning at 1:00 pm.

On Monday, January 17, CAAM kicks off the day in the annual King Day Parade, followed by “Cake for King,” a day of children’s workshops, storytelling, film screenings of Dr. King speeches with delicious birthday cake being served at CAAM. Activities begin at 11:00am and the cake will be served at 2:00pm.

The two-day festivities are free and open to the public. Doors open at 11:00 am.

Children’s workshops will be held on both days beginning at 12pm. Guests are encouraged to take advantage of the rich culture, history and ongoing exhibitions in the CAAM galleries.

For more information and a schedule of the King Day events, call 213.744.7432 or visit the Web site at www.caamuseum.org.

SCE Reaches Out to Customers to Help Lower Their Electric Bills

E-mail Print PDF

Southern California Edison (SCE) realizes that despite an economic uptick, many of its customers are still struggling to make ends meet. Though customers may qualify for economic assistance programs, many have not applied. For example, SCE estimates there are still about 60,000 customers who are eligible for discounts on their electricity bills through the California Alternative Rates for Energy (CARE) plan, but have not enrolled.

SCE offers many ways to help its customers, whether it is making sure they are on the right rate plan, working on alternate payment options or getting free energy- efficient appliances. All customers have to do is call SCE to get started.

The utility offers a range of programs to those customers who qualify for assistance including:

• The CARE program, which provides a discount of 20 percent or more on customers’ monthly electric bills.

• The Family Electric Rate Assistance (FERA) program, allows a discounted rate on the monthly bill for families of three or more who fall within the income guidelines and exceed their baseline usage by 30 percent or more.

• The Energy Savings Assistance Program (ESAP), formerly called the Energy

Management Assistance program, helps income-qualified households conserve energy and reduce their electricity costs. SCE supplies and installs energy- efficient appliances and equipment at no cost to eligible customers. ESAP services are available to homeowners and renters.

• The Energy Assistance Fund (EAF), grants up to $100 per year to help customers who cannot pay their electric bills. The grants are administered by community-based assistance agencies. EAF is funded by donations from SCE employees, customers and Edison International, SCE’s publicly held parent company.

• Customers who rely on electronic medical equipment may be eligible for the Medical Baseline discounted rate.

SCE can help any customer, regardless of income, with payment arrangements. Customers who need additional help should call 211 to connect with community service programs throughout California.

To learn more about these and other programs, please visit www.sce.com/assistance or call 1 (800) 369-3652.

Page 32 of 53

Quantcast

BVN National News Wire