CBL Adds Director As It Prepares To Exit Bankruptcy And More Business News


Jonathan Heller joins the CBL Board of Directors

CBL Properties announced Friday that Jonathan Heller has been appointed to the board of directors of the Chattanooga-based shopping center company.

“As we move towards exiting bankruptcy on November 1, we believe Jonathan’s involvement in the restructuring negotiations and the insights gained from them will help ensure a smooth transition to our new board of post-emergence administration. Additionally, Jonathan’s vast investment experience will come from. I am delighted to work closely with Jonathan as CBL moves forward in this exciting new chapter, ”said Stephen D. Lebovitz, CEO of CBL.

Heller is a partner who oversees the New York office of Canyon Partners and is a member of the firm’s investment committee. He is responsible for the company’s investments in companies across a wide range of industries including REITs, retail, financial institutions, technology and consumer. He has significant experience in various asset classes including distressed and distressed corporate debt, real estate, equity, municipal fixed income and structured products.

Unum quarterly dividend remains at 30 cents this fall

Unum Group announced Friday that it will pay a quarterly dividend of 30 cents per share on its common stock, payable November 19 for shareholders of record October 29.

The Chattanooga-based insurer increased its quarterly dividend this summer from 28.5 cents to 30 cents per share.

Unum is an international provider of workplace benefits and services that generated $ 13.2 billion in revenue last year. Through its Unum and Colonial Life brands, the company offers disability, life, accident, critical illness, dental, vision and stop-loss insurance; support for the management of leaves and absences and behavioral health services.

Economists expect 4.1 million annual job growth

The U.S. job market is expected to continue improving over the next 12 months, but it will not be as booming as it was before the coronavirus pandemic began, according to the nation’s top economists.

Experts polled as part of Bankrate’s third-quarter economic indicators survey see unemployment drop to 4.23% in a year. This compares to the 3.5% unemployment rate that prevailed before the pandemic, a 50-year low.

Meanwhile, economists predict that U.S. employers will add an average of 340,000 new jobs each month over the next 12 months. If this materializes, it means the job market will create around 4.1 million new jobs during the year, a welcome improvement after the coronavirus pandemic created 22.2 million jobs.

“If these conditions materialize, along with further advancements in vaccinations and the pandemic, many Americans should see some benefit to their household’s bottom line when it comes to their personal finances,” said Mark Hamrick, senior economic analyst de Bankrate and Washington bureau chief.


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