Coach Inc. (NYSE:COH) announced Michael F. Devine, III, will retire as Chief Financial Officer after nearly 10 years with the company. In order to facilitate a smooth transition, Mr. Devine is expected to stay until August 2011. The company is commencing a search for his successor. “Mike has played a critical role in developing and executing the strategies that have driven our superior sales and earnings growth during his tenure with the company,” said Lew Frankfort, Chairman and Chief Executive Officer of Coach, Inc.
Coach, Inc. engages in the design and marketing of accessories and gifts for men and women in the United States and internationally.
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WellCare Health Plans, Inc. (NYSE:WCG) announced that the Georgia Department of Community Health (”DCH”) is extending the term of the Georgia Families program managed care contract between DCH and WellCare of Georgia, Inc., subject to the execution of a contract amendment. The amendment is expected to extend the contract by one year to June 30, 2013. The amendment also is expected to include a renewal option allowing the contract term to be further extended by one additional year to June 30, 2014.
WellCare Health Plans, Inc. provides managed care services for government-sponsored healthcare programs in the United States.
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Proper Power & Energy, Inc. (OTCBB:PPWE) announced recently that its wholly owned subsidiary, American Resources, Inc., has begun production on its 87.5 acres in Western Kentucky.
American Resources, Inc. has completed the re-work on all 4 wells, with those wells online and pumping. “This is an exciting day for us,” stated PPWE President, Andrew Kacic. “This is the beginning of production for PPWE in Kentucky, and we look forward to increasing our presence.”
Furthermore, PPWEannounced recently that it has restructured its executive management team and entered into a strategic alliance.
Andrew J. Kacic will replace Joseph Abdo as President of PPWE. Mr. Kacic brings more than 32 years of progressive experience as a chief executive in oil and gas, investment banking, insurance services and public securities. Mr. Kacic was the founder and president of American Resources of Delaware, Inc. and its subsidiary Southern Gas Company, successfully taking assets from $220,000 to more than $40 million in less than 4 years. Mr. Abdo will remain the Chief Executive Officer and Chairman of the Board.
Concurrently to the management restructuring, PPWE has entered into a strategic alliance with Douglas Kiggins, founder of Mayo Energy Partners. Mr. Kiggins will assist Mr. Kacic in the development of the Company’s Utah asset, with the target goal of drilling the first exploratory well in Utah by third Quarter 2011. Mr. Kiggins has participated in the drilling and development of over 250 oil and gas wells in Texas, Oklahoma and Colorado, with the deepest well reaching a total depth over 21,000 feet.
Proper Power & Energy, Inc. was formed in 2006 as an exploration and production company for oil and gas. PPWE is committed to utilizing a very dynamic system of research and testing, and as a result of this extensive research and testing, have selected several sites with very good to excellent potential for productivity.
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IDEX Corporation (NYSE:IEX) announced that Neil Springer informed the company of his intention to retire and resign from the IDEX Board effective at the 2011 Annual Meeting of Stockholders on April 5, 2011. Mr. Springer joined the company’s Board in February 1990. On April 6, 2010, he was reelected to serve a three-year term ending at the IDEX Corporation 2013 annual meeting of stockholders. Commenting on the resignation, IDEX Chairman and Chief Executive Officer Larry Kingsley said, “Neil has been a highly valued Board member. In addition to his general Board duties, he has served during his long tenure on all of the Board Committees, including as Chair of the Nominating and Corporate Governance Committee from 2002 until 2010. We thank him for his many years of service.
IDEX Corporation, through its subsidiaries, engages in the manufacture and sale of an array of pumps, flow meters, other fluidics systems and components, and engineered products worldwide.
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Spectral Capital Corporation (FCCN) is pleased to announce that it has signed a letter of intent to acquire a significant gold mine resource in Kazakhstan. FCCN is currently engaged in due diligence on the property and expects to close the acquisition early in the first quarter of 2011 provided that the due diligence process validates the size and scope of the gold resource.
“We believe that this massive resource is already in production and has all the permits required by Kazakh authorities,” stated Jenifer Osterwalder, FCCN CEO. “This resource is substantially larger even than our existing Chita region properties. The mine owners were attracted to our ability to commit to and raise substantial capital for the full exploitation of this enormous resource for our mutual benefit.”
Spectral Capital is focused on the acquisition of a significant portfolio of properties for mining activities. In September 2010, FCCN purchased an interest in mineral properties in the Chita region of the Russian Federation. The Kadara and Kaltagay license is located in the Mogochinsky district of the Chita Region, which has several gold mines in production, in the Russian Federation. Spectral owns 47% of the License for prospecting, exploration and production of gold and all other metals. The length of the License runs to 31 August 2031. The size of the License is 186 square kilometers or 18,200 hectares. Development and exploration activities are currently being undertaken.
FCCN will produce premium financial returns for shareholders by utilizing innovation and technology in high growth markets in our pursuit for market leadership. Markets with significant growth and profit opportunities will be approached with fresh ideas and vigor to attain a competitive edge and maximum profit. Creativity and focused energy will be an integral part of FCCN’s success. FCCN’s daily aim is to pursue opportunities second best to no one and always a victor.
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