Tuesday, March 06, 2001

Tristate Summary


Donahue sales don't happen

        No purchase agreement was struck Monday for Donahue Securities — despite a court-ordered deadline for the broker-dealer to file plans to reimburse about 123 clients.

        The company's former president, Stephen G. Donahue, 52, of Green Township, is accused in a federal civil complaint of using $6 million in client money to pay business and personal expenses, including a down payment on a Florida condo, his own taxes and investments and a $275,000 vacant lot in Clermont County.

        A company spokeswoman has said any reimbursement would almost certainly include sale of Mr. Donahue's two companies, the financial planning firm S.G. Donahue & Co. and the brokerage firm Donahue Securities.

        While company officials continued negotiating with suitors Monday, purchase offers “weren't to Donahue's preferences,” spokeswoman Linnea Lose said.

        Ms. Lose said company officials hoped to have a deal in place by a federal hearing at 2 p.m today.

ELS acquires Rockmor Group

               ELS Human Resources Solutions, 312 Plum St., has acquired the assets of the Rockmor Group, based in Detroit, and expects to boost annual revenue to $60 million.

        “This acquisition fits very well with our strategic plan of being the dominant professional employer organization and human resource outsourcing company in the Midwest,” Ronald E. Heineman, president and chief executive of ELS, said.
       

Ky. car track signs ticket deal

               Kentucky Speedway has signed a multiyear agreement with tickets.com for the ticket company to sell tickets for all 2001 races at the track in Sparta, Ky.

        Tickets are also available through ticket.com retail outlets at Meijer, Hader Hardware and Play It Again Sports stores.

        — From staff and wire reports

       



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