| Quebecor World to sell new stock, debt in refinancing plan
MONTREAL - Quebecor World Inc. (TSX:IQW) says it will sell up to $778 million worth of additional shares and debt securities to investors and to its controlling shareholder, Quebecor Inc. (TSX:QBR.B), in a refinancing of its debt and credit facilities. The printing company, which historically forms the core of the Quebecor business empire, announced Tuesday that it will sell up to $213 million worth of its subordinate voting shares to the public through a syndicate of underwriters. In addition, Quebecor Inc. will pay about $65 million for a combination of multiple voting shares and subordinate voting shares in order for the parent company to maintain the level of its current economic interest in Quebecor World. .
Credit Do's and Don'ts
It's pretty easy these days to swipe your credit cards, lose track of how much you've spent and feel lost in a sea of debt after you've done your holiday shopping.Here's some tips on how to choose the best credit cards and which ones you should avoid.Crystal Reid has dealt with her share of credit problems. But they come from the hundreds of people across the country she helps each day. Now the credit counselor has some advice for shoppers who will choose plastic over green this holiday season.While Reid says there's no "best" credit card to apply for this year, there are some you need to steer clear.Rule number one; you should never have to pay for credit. Stay away from paying start-up or introductory fees. Reid says many creditors can target potential customers who have less than perfect credit by promising approval after you pay to activate the card.
Boards discuss new school budget process
Although it appears unlikely that any schools on this peninsula will consolidate before July 2009, all school districts must change how their budgets are adopted this year. On Thursday, November 8, Union 49 Superintendent of Schools Eileen King and Town Managers John Anderson and Tom Woodin convened a meeting with the Boothbay-Boothbay Harbor CSD school committees and the two boards of selectmen to discuss the new school budget validation requirements and timing. A second topic of discussion was how to maintain local control of school property despite consolidation. .
State Gets Emergency Grant For Groveton Mill Closure
The federal government has approved a grant for New Hampshire to help workers losing their jobs because of the Groveton mill closure. Republican Sens. Judd Gregg and John Sununu on Friday announced the Department of Labor's approval of New Hampshire's request for the $659,992 emergency grant. Both senators had asked Labor Secretary Elaine Chao to expedite Gov. John Lynch's grant request. .
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