Schneider Electric named one of the Fortune's World's Most Admired Companies for the third year in a row
MISSISSAUGA, ON, Jan. 27, 2020 /CNW/ - Schneider Electric, the leader in digital transformation of energy management and automation, has been included in the World's Most Admired Companies, according to the 2020 list published by Fortune. This year, the company ranks fourth in the electronics industry, +1 position vs 2019. The achievement reflects its growing reputation as an all-round achiever in its industry, pursuing innovation with a strong focus on sustainability and inclusion for all.
Former Trustee Joan B. Johnson Gifts Spelman College $1 Million to Support Future Scientists
ATLANTA, Jan. 27, 2020 /PRNewswire/ -- Joan B. Johnson, philanthropist, entrepreneur and co-founder of Johnson Products, bequeathed a $1 million gift to Spelman College in support of future scientists.
Washington Trust Reports Fourth Quarter and Full-Year 2019 Earnings
WESTERLY, R.I., Jan. 27, 2020 /PRNewswire/ -- Washington Trust Bancorp, Inc. (Nasdaq: WASH), parent company of The Washington Trust Company, today announced fourth quarter 2019 net income of $15.5 million, or $0.89 per diluted share, compared to net income of $18.8 million, or $1.08 per diluted share, reported for the third quarter of 2019. Net income for the year ended December 31, 2019 totaled $69.1 million, or $3.96 per diluted share, compared to $68.4 million, or $3.93 per diluted share, reported for the prior year.
Axiom Space wins NASA approval for construction of commercial space station on ISS
HOUSTON, Jan. 27, 2020 /PRNewswire/ -- The human dream of universal access to living and working in space has drawn one step closer. On Monday the National Aeronautics and Space Administration selected Axiom Space as the winner of the NextSTEP-2 Appendix I solicitation, which sought to grant access to the International Space Station's Node 2 Forward port for a commercial space station that could ultimately serve as ISS' replacement. Co-founded by stalwart space entrepreneur Dr. Kam Ghaffarian and former NASA ISS Program Manager Michael Suffredini, both of whom have in excess of 35 years of human spaceflight experience, Axiom plans to launch a node module, research & manufacturing facility, crew habitat, and large-windowed Earth observatory to form the "Axiom Segment" of the ISS. This new commercial platform will significantly increase the usable and habitable volume of the ISS, provide for novel avenues of research in areas such as isolation studies and Earth observation, and allow a gradual transfer of the innovative work being done on-station to prevent interruptions when the ISS is ultimately retired. The company targets launch of the first module in the latter half of 2024. "We appreciate the bold decision on the part of NASA to open up a commercial future in Low Earth Orbit," Suffredini said. "This selection is a recognition of the uniquely qualified nature of the Axiom team and our commercial plan to create and support a thriving, sustainable, and American-led LEO ecosystem. "Axiom exists to provide the infrastructure in space for a variety of users to conduct research, discover new technologies, test systems for exploration of the Moon and Mars, manufacture superior products for use in orbit and on the ground, and ultimately improve life back on Earth. As we build on the legacy and foundation established by the ISS Program, we look forward to working with NASA and the ecosystem of current and future international partners on this seminal effort." Central to the selection was the Axiom leadership team's extensive high-level expertise in human spaceflight management, space systems engineering and operations, utilization of microgravity, space finance, marketing, and law. Ghaffarian founded Stinger Ghaffarian Technologies, which rose to become NASA's second-largest engineering services provider, training NASA's astronauts and operating the ISS. These functions are now carried on by KBR, which bought SGT in 2018 and joined the Axiom team as a subcontractor on the winning proposal. "A commercial platform in Earth orbit is an opportunity to mark a shift in our society similar to that which astronauts undergo when they see the planet from above," Ghaffarian, Axiom's executive chairman, said. "Our goal is to advance the state of humanity and human knowledge. I am glad to see the Axiom team, with its advanced human spaceflight, engineering, and operations expertise, recognized for its potential to do just that and build off of ISS." Team Axiom also includes Boeing, Thales Alenia Space Italy, Intuitive Machines, and Maxar Technologies. Axiom was founded in 2016 with the purpose of expanding human civilization into Earth orbit. In addition to building and launching the Axiom Segment, the company will launch crewed flights to the ISS and later the ISS/Axiom complex at a rate of about two to three flights per year. Shortly before ISS is retired, Axiom will launch its large power platform to provide the Axiom Segment power and cooling that ISS previously provided. When the ISS reaches its decommissioning date, the Axiom Segment will detach and continue as a free-flying, internationally available commercial space station. This station will have been built at a fraction of the cost of ISS, the elimination of whose operating costs will enable NASA to dive headlong into a new era of exploration. "There is a fantastically steep learning curve to human spaceflight," Suffredini said. "The collective experience at Axiom is quite far along it. Because we know firsthand what works and what doesn't in LEO, we are innovating in terms of design, engineering, and process while maintaining safety and dramatically lowering costs." About Axiom Space Axiom Space was founded in 2016 to make life and work in orbit a reality as a means to sustained deep space exploration and improving life on Earth. While building and launching the Axiom Segment to one day form the world's first commercial space station, Axiom will provide access to the ISS today by launching crewed flights at a rate of about two to three flights per year. More information about Axiom can be found at www.axiomspace.com. View original content to download multimedia:http://www.prnewswire.com/news-releases/axiom-space-wins-nasa-approval-for-construction-of-commercial-space-station-on-iss-300993950.html SOURCE Axiom Space
Hunt Real Estate Capital Provides a $15.8 Million Fannie Mae DUS® Loan to Finance the Acquisition of a Multifamily Property Located in St. Mary's, Georgia
NEW YORK, Jan. 24, 2020 /PRNewswire/ -- Hunt Real Estate Capital announced today it provided a Fannie Mae DUS(®) conventional multifamily loan in the amount of $15.8 million to finance the acquisition of a multifamily property located in St. Mary's, Georgia.
Czech Family Endows $1 Million Scholarship To Support Children Of American Tradesmen And First Responders At Villanova University
OLD GREENWICH, Conn., Jan. 23, 2020 /PRNewswire/ -- Stephen J. and Jennifer L. Czech announced a $1 million gift to Villanova University. The proceeds of the gift will be used to fund scholarships for children of American tradesmen and first responders. This gift is one of the largest dedicated to funding scholarships for children of American tradesmen and first responders in Villanova's 177-year history.
Trevian Capital Announces $200 Million in Recent Transitional Multifamily Bridge Loan Closings
NEW YORK, Jan. 23, 2020 /PRNewswire/ -- Trevian Capital, a direct bridge lender that provides short-term bridge loans nationwide, has recently funded approximately $200 million in transitional multifamily bridge loans across 14 closings in seven states. Since launching its lower-cost Transitional Multifamily bridge product in Q4-2018, Trevian Capital has earned a reputation as the go-to lender for bankable sponsors who need flexible capital for value-add, transitional, and/or construction-completion multifamily deals nationwide.
Sprout Mortgage Closes Record December and 2019 as Demand for Quality non-QM Mortgages Soars
EAST MEADOW, N.Y., Jan. 27, 2020 /PRNewswire/ -- Sprout Mortgage, the leading nationwide force in non-QM residential lending, today announced that it capped a record-setting 2019 with a best-ever month, closing more than $268 million in loans in December. Total Sprout loan volume topped $2.78 billion for the calendar year, up 89% from the 2018 yearly figure. "Non-QM mortgages are an increasingly vital and growing part of today's residential finance landscape as consumers, investors, and the professionals who serve them demand flexible, customized, and readily accessible capital solutions," said Michael Strauss, President. "I am proud that Sprout has been able to serve its borrowers while maintaining a strong control environment that consistently produces high-quality loans that are rigorously underwritten." Sprout's loan programs and products are designed to provide lenders with a range of solutions to solve a wide variety of borrower needs for home ownership. Programs include Alternative Qualification, Near-Prime, Super Jumbo, Moderate Credit, and Real Estate Investor loans. Sprout Growth Supporting and enabling this growth, in 2019 Sprout Mortgage: Added more than 50 sales professionals; Expanded its capital markets and servicing teams; Increased underwriting and credit quality staff with more than 50 experienced new hires; and Launched its proprietary AUS tool (ACORN) and program qualification and pricing tool (iQualifi)."Non-QM is an important topic throughout the mortgage industry," said Shea Pallante, Executive Vice President. "Sprout is capitalizing on that with our focus on innovative products, quality credit, and excellent client experience. We estimate that we've captured more than 10% of today's market and we expect to continue to provide industry leadership in the months and years ahead as the non-QM market grows." About Sprout Mortgage Sprout Mortgage is a leading nationwide non-QM lender whose innovative products, flexible qualifying criteria, and common-sense underwriting provide tailored lending solutions for residential real estate investors, self-employed borrowers, and those with recent credit events. Sprout provides modern lending solutions to help a broad range of consumers and the brokers and lenders who serve them. For more information, visit www.sproutmortgage.com or call 844-664-6100. View original content to download multimedia:http://www.prnewswire.com/news-releases/sprout-mortgage-closes-record-december-and-2019-as-demand-for-quality-non-qm-mortgages-soars-300992501.html SOURCE Sprout Mortgage
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