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SANY signs deal with Central Atlanta Tractor

SANY signs deal with Central Atlanta Tractor

PEACHTREE CITY, Ga. -- SANY America continues to grow in north and central Georgia.

The Peachtree City-based equipment manufacturer recently signed a dealership agreement with Central Atlanta Tractor Sales in Austell. Central Atlanta Tractor will now sell SANY's hydraulic excavators.

"SANY America looks forward to working with Central Atlanta Tractor in meeting the equipment and service needs of contractors and other customers throughout central and northern Georgia," SANY vice president Eric Teague said in a release.

Central Atlanta Tractor provides new and used equipment sales and field support throughout the Southeast, according to a company release.

Jim Hansberger named to Barron’s Top 1,200 Financial Advisors

Jim Hansberger named to Barron’s Top 1,200 Financial Advisors

ATLANTA -- Morgan Stanley announced today that Jim Hansberger, Managing Director, Financial Advisor, in the Firm’s Atlanta Wealth Management office, has been named to Barron’s list of America’s Top 1,200 Advisors: 2014 State-by-State.

The “Barron’s Top 1,200 Advisors” is a select group of individuals who are screened on a number of criteria. Among factors the survey takes into consideration are assets under management, revenue produced for the Firm and quality of service provided to clients.

“I am extremely proud that Jim Hansberger is representing Morgan Stanley Wealth Management on this list,” commented Michael Outlaw, Branch Manager of Morgan Stanley’s Atlanta office. “This listing recognizes an elite group of financial professionals who are dedicated to providing clients with exceptional wealth management services.”

Brian Frank named to Barron’s Top 1,200 Financial Advisors

Brian Frank named to Barron’s Top 1,200 Financial Advisors

ATLANTA -- Morgan Stanley announced today that Brian Frank, Managing Director, Financial Advisor, in the Firm’s Atlanta Wealth Management office, has been named to Barron’s list of America’s Top 1,200 Advisors: 2014 State-by-State.

The “Barron’s Top 1,200 Advisors” is a select group of individuals who are screened on a number of criteria. Among factors the survey takes into consideration are assets under management, revenue produced for the Firm and quality of service provided to clients.

“I am extremely proud that Brian Frank is representing Morgan Stanley Wealth Management on this list,” commented Michael Outlaw, Branch Manager of Morgan Stanley’s Atlanta office. “This listing recognizes an elite group of financial professionals who are dedicated to providing clients with exceptional wealth management services.”

RadioShack to close 1,100 stores

(USA TODAY) -- After reporting dismal fourth-quarter earnings, RadioShack said Tuesday that it would close about 1,100 poorly performing stores, roughly 20% of the electronic retailer's locations.

The store closings will leave about 4,000 locations in the U.S. The company has been struggling to revamp its stores for the past year.

Total net sales and operating revenues were $935.4 million in the fourth quarter, vs. $1,171.4 million last year, a 20% decline. Comparable store sales were down 19%, which the company blames on poor performance in its mobile phone business.

RadioShack stock was down more than 20% in premarket trading.

"Even in this environment, we're continuing to make progress on the five pillars of our turnaround plan: repositioning the brand, revamping the product assortment, reinvigorating the stores, operational efficiency and financial flexibility," CEO Joseph C. Magnacca said in a statement.

Best Buy to cut hundreds of jobs

(BUSINESS JOURNAL) -- Best Buy Co. Inc. plans to cut hundreds of jobs throughout its U.S. store operations, according to a report in the New York Post.

The article, citing anonymous insiders, says the "layoffs could affect upwards of 2,000 managers," though the exact scope isn't known. The retailer does not plan to close any of its 1,055 U.S. stores at this time.

Best Buy, which reports its fourth-quarter earnings on Thursday, declined to comment. The chain has 19 stores in metro Atlanta.

Late last month, Best Buy announced it was laying off roughly 950 full-time employees at its Best Buy and Future Shop stores in Canada as part of a store-restructuring initiative. The company said it will consolidate sales departments and reduce management layers in an effort to "streamline its store operating model as part of the company's long-term growth strategy in Canada."

Jos. A. Bank buying Eddie Bauer in $850M deal

Jos. A. Bank buying Eddie Bauer in $850M deal

HAMPSTEAD, Md. -- Jos. A. Bank Clothiers Inc. is buying the parent company of Eddie Bauer in a cash-and-stock deal valued at $850 million.

The men's clothing company, which itself is being pursued by Men's Wearhouse Inc., made the deal with Everest Topco LLC to buy Everest Holdings LLC, Eddie Bauer's parent company.

Jos. A. Bank said Friday that the transaction includes $564 million in cash and about 4.7 million new shares of Jos. A. Bank stock issued to Everest Topco at $56 per share.

Everest Topco may also earn up to an additional $50 million in cash based on Eddie Bauer's adjusted earnings for fiscal 2014.

Jos. A. Bank may end the deal if it receives an acquisition offer for its company that it feels is superior.

RadioShack to close 500 stores

(ATLANTA BUSINESS CHRONICLE) -- RadioShack scored big points with its comedic 1980s-themed Super Bowl ad that poked fun at the retailer's outdated image, but the mood was more somber on Tuesday when news broke that around 500 stores will close in the coming months.

WATCH | RadioShack Super Bowl ad

The Wall Street Journal says it isn't clear which of the Fort Worth, Texas-based company's 4,300 stores will be closed or when.

The closings are part of a restructuring. Says the WSJ, "The retailer has struggled to reverse a string of losses deepened by a sales strategy focused around smartphones, which failed to improve revenue over the past two years."