Tuesday, April 29, 2014

Harbinger Group: A Diversified Holding Company

Allegedly linked to the United States’ Central Intelligence Agency, Harbinger Group is a diversified holding company that aims to acquire and nurture attractive business opportunities that would bring sustainable free cash flow to its investors.

Formerly known as Zapata Corporation, the business, headquartered now in Rochester, New York traces its history from an oil business that was put up by a group of individuals, including the then president George H. W. Bush. The company was established prior to Bush having been seated at the head of the country. Along with his business partners, Thomas J. Devine, Bill Liedtke, John Overbey and Hugh Liedtke, they created the Zapata Oil in 1953. The initial investment of $1 million was provided by the Liedtke brothers and their circle of investors. In the early years of the business, Liedtke sat as the president of the venture while bush was his vice.

With strong connections and good business practice, the company has expanded their operations outside the United States that they now have the Zapata Off-Shore. By 1963, the company already operated four oil-drilling rigs – Vinegaroon, Sidewinder, Nola III and Scorpion. It was also during that time that Zapata Petroleum merged with South Penn Oil and other companies to create Pennzoil.

It was in the 1970s that the business has undergone major changes in management and direction. During that time, the company was sinking in debt and suffering a low return of investment coupled with weak operations. A decision under John Mackin was made to let go some of its businesses and strongly focus on offshore oil and gas exploration and production.

Today, the business is on the prowl of acquiring several undervalued or fairly valued companies and generates financial flow from it. Harbinger Group’s businesses include Salus Capital Partners, Spectrum Brands, FrontStreet Re, Fidelity & Guaranty Life and EXCO/HGI Patnership.

Friday, April 25, 2014

Far West Capital: A Custom Financing Company

Far West Capital is a privately held custom financing company that provides a number of services including factoring of accounts receivable, inventory financing, transportation financing, asset-based lending, and purchase order financing. The company cater to clients from different industries, including construction, manufacturing, B2B services providers, wholesalers/distributors, bio-technology, staffing, and transportation.

Far West Capital was established in 2007 by Cole Harmonson and Don Stricklin in Austin, Texas. Since its foundation, the business has grown and expanded to new offices in Houston, El Paso, and Dallas in Texas, and one in Phoenix, Arizona. The company has served over 200 clients, with a reported annual growth of 20% each year. Far West Capital has already provided more than $300 million in financing in 2011 and $500 million in 2012, with a projected $600 million in financing in 2013.

As of late, Cole Harmonson sits as the president and CEO while Don Stricklin acts as the chairman

Tuesday, April 22, 2014

Exide Technologies: Energizing the World

Exide Technologies is an American manufacturing company that specializes in lead-acid batteries, including automotive and industrial batteries. It has four global business groups, namely, the Transportation Americas, Industrial Power Americas, Transportation Europe and Rest of World, and Industrial Power Europe and Rest of World. These groups provide stored electrical energy services and products to different clients and businesses in various industries worldwide.

Exide's international headquarters are situated in Milton, Georgia and has recycling and manufacturing plants located throughout the U.S., Europe, Australia, and the Pacific Rim. Recycling plants are located in Canon Hallow, Missouri; Baton Rouge, Louisiana; Muncie, Indiana; and Reading, Pennsylvania. They used to have recycling plants in Vernon, California and Frisco, Texas, but these have been closed a few years ago due to toxic emissions and/or leakages of lead and cadmium found through regulatory inspections.

The company's client base primarily come from the transportation markets, including original equipment and aftermarket automotive, agricultural, heavy-duty truck, marine applications, and new technologies for hybrid vehicles. Meanwhile, industrial markets include network power applications including telecommunications systems, rail transport, uninterruptible power supply (UPS), photovoltaic (solar-powered related), and motive-power applications such as forklift trucks, mining, and other related commercial vehicles.

Exide's origins can be traced back to 1888 when the Electric Storage Batter Company was founded by W.W. Gibbs who purchased the ideas and patents of Clement Payen, an inventor, to make the storage battery a commercial product. Gibbs aimed at electric lighting companies, believing that they can use storage batteries in providing services to their respective customers.

In 1900, the Electric Storage Battery Company developed a product that has greater capacity but with less weight, which are intended for use in electric taxicabs. This business was named Exide, a shortened term for "Excellent Oxide."

Over the years, Exide Technologies has been acquiring several businesses.

Friday, April 18, 2014

Ensign Energy Services: Changing the Way the World Drills

Starting out as Ensign Resource Service Group, the business adopted its new brand name in 2005 to Ensign Energy Services, Inc. The company offers oilfield services to the international market with a strong focus on the North American region. Based in Calgary, Alberta the company is known as the world’s leading land-based drillers.

The company was established in 1987 and has also grown to be known as one of the top well servicing providers for geothermal wells, natural gas and crude oil. Not only is the business known for their expertise in drilling, they have also etched their name in the market for their environmental protection and highest safety standards. Their main product is their Automated Drill Rig (ADR) which has advanced the world’s drilling and well servicing methods. Their fleet of extensive equipment is highlighted for their mobility and flexibility in meeting the demands of their customers.

The business is publicly traded on the Toronto Stock Exchange using the symbol ESI.

Tuesday, April 15, 2014

1st Franklin Financial Corp: Serving the Financial Needs across the Southeast

Though often mistaken as the First Franklin Financial, 1st Franklin Financial Corporation is a completely separate entity from the former and thus is no way associated with the company. Despite the commonalities with the name, the business is uniquely identified for their usage of the numeral 1 in their name.

Since its inception, the business has been focused on its goal of serving the financial needs of the community it thrives in. It has put strong importance on the personal service and respect these people deserve while generating the revenue needed to keep the business running. Ben F. Cheek founded the business with a strong commitment to their customers. It has been more than 70 years since he made his first $34 auto loan from his law office in Toccoa, Georgia. The company was initially founded as Franklin Discount Company with capital pooled from loans from local banks, friends and his relatives. It was not until 1983 that it adopted its current name.

From its auto loan services, the company slowly expanded their offerings starting 1948 with their insurance services beginning with Credit Automobile. In 1950 they added investment securities to their portfolio and 6 years after started operating the Credit Life and Accident & Health insurance. The growth of the business was pretty dramatic and they have seen their performance go up steadily until 2005. During this year, the business encountered difficult times because of Hurricanes Katrina and Rita, which badly damaged several of their offices. Their Bay St. Louis, Mississippi branch was the office that got completely destroyed, which forced the business to reopen in a new location.

The company is now strongly focused on providing loans to their customers. These loans range from personal to auto repairs, from home improvements to debt consolidation. 1st Franklin Financial Corporation services their clients from their 275 offices in six states and whatever financial needs their customers, they almost always have a solution for it.

Friday, April 11, 2014

eHealth Global Technologies: The Medical Records and Imaging Expert

With the technological advancements that the internet has brought to almost every facet of our lives, keeping track of almost everything is a breeze. This is also true in the medical world. With companies like eHealth Global Technologies, Inc. clinicians and medical facilities are no longer challenged with keeping medical records.

Based in Rochester, New York and incorporated in 2006, eHealth provides secure acquisitions and centralization of remote patient medical records. In addition, they also offer patient medical image exchange services for Regional Health Information Organizations and Health Information Exchanges in the country. The collected images and records are made available in various formats to clinicians and medical providers. The company is the descendant of the company founded by Michael J. Margiotta, the National Digital Health Solutions.

More than 50% of the top 100 hospitals and health information exchanges in the United States utilizes the company’s services. eHealth roughly pulls patient information from over 20,000 healthcare providers every month.

Tuesday, April 8, 2014

Deluxe Corporation: America’s Trusted Check Brand

Checks have always been one of the preferred methods of payment. Despite technological advancements of doing business, most of those big transactions are carried out using checks. The printing of checks is normally done by third party businesses other than banks. In the United States, the second largest company involved in the designing and printing of checks is Deluxe Corporation.

Established as the Deluxe Check Printers in 1915, the company keeps its main office in the suburb of Shoreview, Minnesota. Its founder W.R. Hotchkiss is also the creator of some innovations like the Hotchkiss Lithograph Press (1928), Hotchkiss Imprinting Press (1925) and a two-way perforator (1925). The company he founded was also the pioneering business in the new MICR check printing technology. Just like any other businesses, the company was also faced with financial challenges. This happened when the demand of their products in the 1980s declined and competing businesses emerged rapidly. It was in 1988 that the business changed its branding to Deluxe Corporation. This happened after the company survived those lean financial years.

Currently, Deluxe has 33 facilities in the United States and has 3 other locations in Canada that are mainly involved in administrative functions, fulfillment, printing and call center. It has two other subsidiaries, namely McBee (formerly Royal McBee) and New England Business Services, Inc. (NEBS) and Checks Unlimited. All businesses are organized into three major segments: Deluxe Financial Services, Deluxe Small Business and Direct Checks. Their Financial Services arm deals with banks and other financial institutions, their Small Business transacts with home offices and small businesses and their Direct Checks unit deals with consumers directly.

Deluxe Corporation has hosted more than 730,000 websites for businesses and individuals. They have over 4.5 million active small business customers in addition to their 5,517 financial institution clients. The company has become America’s best known check brand.

Friday, April 4, 2014

Bucketfeet: Artist-Designed Protection for Your Feet

BucketFeet is a US-based online retailer of artist-designed footwear. Founded by Raaja Nemani and Aaron Firestein in 2011, it serves customers from across the globe. The company collaborates with various artists from all over the world who design each shoe. The artists receive a portion of the profits from the sale of the pairs they designed. BucketFeet is currently headquartered in Chicago, Illinois.

Nemani and Firestein first met in 2008 when they volunteered in the favelas of Buenos Aires, Argentina. The two became friends and upon Nemani’s departure from Buenos Aires, Firestein sold him a pair of shoes with a design he drew himself. The shoes became an easy conversation starter when he met new people, citing that several friendships were sparked from the conversations he had about the unique shoes. The two agreed to move to Chicago in 2010 and in 2011, the business was officially launched.

Today, BucketFeet sells their shoes online through their website, as well as through retail locations and pop-up shops.

Tuesday, April 1, 2014

The Clorox Company: Bringing High Quality Consumer and Professional Products for Over a Century

The Clorox Company is an S&P 500 Component founded in Oakland, California in May 3, 1913. It was founded by Archibald Taft, Edward Hughes, Charles Husband, Rufus Myers, and William Hussey. It caters to the consumer household, healthcare, and food industries. The company has operations and distributions worldwide, primarily operating from its headquarters, at the Clorox Building in Oakland, CA.

The company and its first bleach product, Clorox, have a history that dates back to May 3, 1913. It came into inception after the five founders invested $100 each to set up the first commercial-scale liquid bleach factory in the US. Initially, the company was called the Electro-Alkaline Company. The name of its first product Clorox was formed from the portmanteau of chlorine and sodium hydroxide, which are the two main ingredients of the said product.

However, back then, the public did not know much about liquid bleach. The initial company, Electro-Alkaline Company started slowly and was about to close down quickly, but when William Murray took over as general manager in 1916, he convinced his wife Annie to give away samples to the customers at their family grocery store in Oakland. Word about the product spread and by 1917, Clorox was already being shipped out to the East Coast via the Panama Canal.

In 1928, the company was renamed to the Clorox Chemical Company and began publicly trading on the San Francisco Stock Exchange. The company proved to be strong enough to survive the Great Depression. During the World War II, however, because of scarcity of materials, the company had to indulge to the decline and sell fewer units of the full-strength Clorox product, affecting their reputation for quality.

In 1957, the company was acquired by Procter & Gamble who renamed it to The Clorox Company as its subsidiary. As of 2013, the company has about 8,400 employees worldwide, with net sales of $5.6 billion.