Investment Management Riley

In a 13D filing this morning on Regent Communications Inc. (Nasdaq: RGCI), Riley Investment Management disclosed a 6.5% stake (2.5 million shares) in the company and a letter sent to the Board of Directors expressed its view that selling the company may offer the best alternative to realize shareholder value.

Riley Recommends Regent Sale

According to an SEC filing, a major shareholder in Regent Communications is encouraging the Cincinnati radio broadcaster to put itself on the block for sale.

Riley Investment Management wrote in a filing with the SEC this week that as of March it owns 7% percent of Regent.

Riley principal John Ahn writes in that filing, "We have been encouraged by the company's strong operational performance and recent strategic acquisitions. However, we acknowledge that Regent Communications' value has consistently been overshadowed by negative public sentiment to the terrestrial radio broadcasting market in general. We also believe that Regent Communications' small size relative to its public company costs makes it difficult for the company to realize value as an independent public entity.

Discover spinoff details disclosed

Morgan Stanley on Friday disclosed some of the first details on how it plans to sever ties between the investment bank and its Discover credit card business through a tax-free spinoff.

The filing with the Securities and Exchange Commission said Morgan Stanley won't have any stake in Riverwoods-based Discover Financial Services, the nation's fourth-biggest credit card brand, after the transaction is done. The documents didn't specify how many shares each Morgan Stanley stockholder will receive or when the spinoff will be completed.

Morgan Stanley had announced in December that it would spin off Discover sometime in the next year. The move comes as rival Visa International plans to go public this year, following in the footsteps of MasterCard Inc., which went public last year.

The jewel in Barclays' crown

A week ago, few people would have heard of Bob Diamond: now, the Barclays president is well on his way to being a household name, featuring on the Today programme and the Six O'Clock News, as well as being splashed across every British tabloid.

To his chagrin, however, the headlines were not because of his success in expanding his business - Barclays Capital, the part of the bank which he runs, has grown by an average of 25 per cent a year for the past decade, almost twice as fast as the so-called 'bulge bracket' investment banks, such as Goldman Sachs. Nor were they because of the key role he is playing in persuading Dutch group ABN Amro to agree a merger with the British bank.

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Dividend Capital Total Realty Trust Announces Property Acquisitions

DENVER--(BUSINESS WIRE)--Dividend Capital Total Realty Trust Inc., a diversified Real Estate Investment Trust (REIT), announced today that in March 2007, it acquired seven properties totaling more than 2.0 million net rentable square feet at a total cost of approximately $127.6 million. Properties included one office and six industrial buildings.

The Shackelford office property in Little Rock, AK was acquired at a total cost of approximately $21.9 million. The 101,977 square foot building is 100% leased to the Federal Bureau of Investigation until 2021 and serves as the FBI's headquarters for the State of Arkansas. The property was recently constructed in 2001 and was built to the highest standards of the U.S. General Services Administration (GSA). The FBI lease does not have a termination clause and is backed by the credit of the U.S.

Pakistan receives $4.6 billion FDI during current fiscal year ...

ISLAMABAD: Federal Minister for Privatization and Investment Zahid Hamid has said that Pakistan was perusing investor friendly policies and due to these policies, Pakistan received Foreign Direct Investment (FDI) amounted to $ 4.6 billion during July 2006 to February 2007 which is almost two percent more than the amount last year. He stated this while addressing the inauguration session of three-day conference of Economic Cooperation Organization (ECO) on Privatization here at local hotel on Tuesday. The conference was attended by 30 delegates from 10 member countries included Afghanistan, Iran, Turkey and Central Asian States. The minister said that privatization, deregulation and liberalization are cornerstones of the highly successful Economic Reforms introduced by the government of President General Pervez Musharraf through then Finance Minister, now Prime Minister Shaukat Aziz.

Fairmont Tamarack Sells Out Initial Pre-Construction Real Estate ...

TAMARACK, Idaho, March 22 /PRNewswire/ -- Fairmont Tamarack, a joint venture development between Andre Agassi and Stefanie Graf's Agassi Graf Development and Bayview Financial, L.P.'s Real Estate Investment Group released its first 125 pre-construction units on Saturday, selling out in fewer than seven hours. Fairmont Tamarack is planning a second release in late summer prior to breaking ground in late fall or early winter of this year. Upon its expected completion in 2010, Fairmont Tamarack will mark the first luxury hotel flag in the state of Idaho and will seek to be only the fifth five-star property in a United States mountain resort.

The sales event marked yet another milestone in the growth of the blossoming Tamarack Resort, an all-seasons jewel in Idaho located just 90 miles north of Boise (Sun Valley is 160 miles east of Boise).