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Nov
24
Posted: 8 month(s) and 8 days(s) ago   |   0 Comment(s)   |   Rating: 0 0
Posted by: crwepicks

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MIAMI (CRWENewswire) -- Restaurant operator Benihana Inc. said Tuesday it moved to a loss in the second quarter, and it withdrew its previous forecast for 2010 profit.

Benihana, which operates the nation's largest chain of sushi and Japanese-theme restaurants, is struggling like many restaurant companies as consumers spend less on eating out.

 


DETROIT (CRWENewswire) -- Ford Motor Co. said Thursday it has extended the maturity dates on most of its $10.7 billion revolving line of credit for two years, preserving cash to use for its turnaround efforts.

Ford said lenders have agreed to give the automaker until Nov. 30, 2013 to pay back $7.2 billion of the loan, instead of its original due date in December 2011. They also agreed to convert $734 million to a term loan due in December 2013.

 

DALLAS, Nov. 24, 2009 (CRWENewswire) -- Cubic Energy, Inc. (NYSE Amex:QBC) ("Cubic" or the "Company") announces that it has entered into transactions with Tauren Exploration, Inc. ("Tauren") and an affiliate of Tauren, both of which are entities controlled by Calvin Wallen III, the Chief Executive Officer of the Company, under which Cubic has acquired $30,952,810 in pre-paid drilling credits (the "Drilling Credits") applicable towards the development of its Haynesville Shale rights in Northwest Louisiana. These Drilling Credits were previously acquired by Tauren in connection with the sale of a majority of its Haynesville Shale rights in Northwest Louisiana. Cubic will use the Drilling Credits to fund $30,952,810 of its share of the drilling and completion costs for those horizontal Haynesville Shale wells drilled in sections previously operated by an affiliate of the Company which are now operated by a third party with significant Haynesville Shale operations experience.

 

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