Category Archives: Companies

Why Ms. Lori Serecal’s Imminent Stepping Will Cost CP + B

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When MDC Partners required a manager who could set their agency CP+B to the global heights, Chuck Porter, ‘fished’ Ms. Lori Senecal from MDC Partners Network. Due to her sterling performance at her previous role, Porter had this belief that Ms. Lori was better placed in transforming the agency to one of the best company in the sector. True to her word, her transformation of the company began taking shape as was evidenced in the company’s landing of the American Airlines sometime in October. It came after the TM Advertising Company that was in partnership with the airline for the last 25 years, shied away from the partnership and immediately CP + B, snagged TM’s account from its reach.

Ms. Lori Achievements

From this achievement, Ms. Lori Senecal was awarded as the agency’s CEO of the year at the company’s annual gala. From the time to date, she has worked tirelessly to scale the agency to the greatest financial achievements, one that was witnessed in the fiscal year that ended last year. In this case, the company, the company realized a 21% appraisal in the profits courtesy of the escalated marketing schemes that M had instituted in the enterprise. According to Ad Week, she also ensured that the working personnel was diligent in their delivery to ensure maximum productivity from all the employees.

Restructuring CP+B’s Leadership

From such a streak of committed and fruitful leadership, the announcement of her stepping down by the end of 2017 has ‘ruffled most feathers’ in CP+B. The ruffling comes with the dire need of fill this position that she occupied. According to Mr. Porter, he opined that Ms. Lori replacement is one daunting task that he will never be under pressure to execute. He has therefore called upon Ms. Lori to help them in restructuring the leadership of the agency ahead of her permanent absence from the company. She has since advocated for an elevation of regional leaders of CP+B’s ten offices around the region. In this light, she has asserted that this venture would ensure that the passionate leaders will be able to share the agency’s resource more seamlessly hence leading to better service delivery and appraisal of the company to greater levels.

Source: http://www.adweek.com/tag/Lori-Senecal/

Unpaid $20 Million CRDA Loan by Devco

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New Brunswick DEVCO did not clear the $1 million in principal and interest owing to Casino Reinvestment Development Authority. The company owes Casino Reinvestment Development Authority. The loan was made in 2005 is already in arrears for five years now. Missed payments are racking up to almost $7 million. It has raised eyebrows on Devco.
According to Press of Atlantic City, the company’s attorney Christopher Paladino organized for the $20 million Heldrich loan. According to the Press of Atlantic City, the attorney said that the CRDA would be cleared though it might take a couple of years to do so. Devco took the CRDA to construct a huge hotel. It has 235 rooms which have been open since 2007. It has been difficult for the hotel to attract guests and it has recorded a tenancy rate was 63.5% as at last year.

According to Paladino, the hotel is cash-stripped, so the corporation was forced to tap $776,000 from its money to fund necessary capital expenses like replacing carpets and mattresses. However, Paladino in indicated that they will keep on engaging in that project to make it healthy. The corporation took the $20 million CRDA loan to build the Heldrich, and it was part of the $107 million for financing the project. That includes $70 million in municipal bonds that should be paid with revenue generated from the hotel. Maria Prato is the spokeswoman for the Authority, and she indicated that they are optimistic that the project will satisfy the outstanding obligations. She noted that the loan was secured. http://www.pressofatlanticcity.com/news/breaking/unpaid-million-crda-loan-raises-questions-about-new-brunswick-devco/article_a03318e2-dcdb-11e5-a563-67611bc7b7bc.html

About Devco

Devco is tasked with formulating European Union Development policies that reduce poverty all over the world. It ensures sustainable development and promotes democracy through external aid. It fosters coordination between the European Union and its member states in development. Stefano Manservisi is Devco’s Director General since 16th May 2016.