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WLOS News 13 provides local news, weather forecasts, traffic updates, notices of events and items of interest in the community, sports and entertainment programming for Asheville, NC and nearby towns and communities in Western North Carolina and the Upstate of South Carolina, including the counties of Buncombe, Henderson, Rutherford, Haywood, Polk, Transylvania, McDowell, Mitchell, Madison, Yancey, Jackson, Swain, Macon, Graham, Spartanburg, Greenville, Anderson, Union, Pickens, Oconee, Laurens, Greenwood, Abbeville and also Biltmore Forest, Woodfin, Leicester, Black Mountain, Montreat, Arden, Weaverville, Hendersonville, Etowah, Flat Rock, Mills River, Waynesville, Maggie Valley, Canton, Clyde, Franklin, Cullowhee, Sylva, Cherokee, Marion, Old Fort, Forest City, Lake Lure, Bat Cave, Spindale, Spruce Pine, Bakersville, Burnsville, Tryon, Columbus, Marshall, Mars Hill, Brevard, Bryson City, Cashiers, Greer, Landrum, Clemson, Gaffney, and Easley.
WILMINGTON — Production companies will soon be able to apply for film grant funds to film in North Carolina. It is a move that would mean more jobs for state crews.
The $30 million film grant will be primarily geared toward attracting medium-sized projects such as television shows. Those programs have the potential to stay for several years if renewed, bringing along more jobs. They also say TV is usually better for the overall tourism industry.
“Fans that follow the show and want to come in and see it, it’s actually on the air, and they can watch it and say, ‘Hey, let’s take our vacation in Wilmington this summer and go see Under the Dome, where it’s filmed,'” said Johnny Griffin with the Wilmington Regional Film Commission.
Officials say there is a hearing set for Oct. 29 in Raleigh to review application guidelines. The state will begin accepting applications on Nov. 6.
Demi Lovato and Nick Jonas are teaming up for “Future Now: The Tour,” a 2016 North American trek that will visit 40 cities next year. The tour by the two teen-pop singers, who are both 23, opens June 24 in Florida and concludes Sept. 17 in Los Angeles. It includes an Aug. 14 date at Chula Vista’s Sleep Train Amphitheatre.
Lovato’s newest album is entitled “Confident.” She was diagnosed with bipolar disorder five years ago and has since become a vocal champion for young people facing mental health issues.
Lambert downplayed reports of a feud between him, Lovato and Jonas. Late Friday night, he tweeted: “Aww I love you all very much. No beef tween @ddlovato @nickjonas and me. Biz negotiations are complex- why do we care about the #rumors?”
As of this writing, the “Future Now” tour dates do not appear on either Lovato or Jonas’ websites, or on the website for Sleep Train Amphitheatre. However, tickets will go on sale at 10 a.m. Nov. 7 to the general public via ticketmaster.com and livenation.com. A pre-sale for Citi card holders begins Nov. 3 at 10 a.m. via the credit card company’s Private Pass program.
Prices for the San Diego show at Sleep train Amphitheatre have not yet been announced. However, prices for the Aug. 18 San Jose range from $27.95 to $86.95 each (plus service charges), which may give an indication of what tickets for Lovato and Jonas’ show here might cost.
Demi Lovato Nick Jonas, “Future Now: The Tour” itinerary
June 24 – Sunrise, Fla., BBT Center
June 25 – Orlando, Fla., Amway Center
June 29 – Atlanta, Ga., Philips Arena
June 30 – Charlotte, N.C., Time Warner Cable Arena
July 2 – Raleigh, N.C., PNC Arena
July 3 – Virginia Beach, Va., Farm Bureau Live At Virginia Beach
July 6 – Uncasville, Conn., Mohegan Sun Arena
July 8 – Brooklyn, N.Y., Barclays Center
July 12 – Newark, N.J., Prudential Center
July 14 – Camden, N.J., Susquehanna Bank Center
July 16 – Hershey, Pa., Hersheypark Stadium
July 17 – Buffalo, N.Y., First Niagara Center
July 20 – Boston, Mass., TD Garden
July 22 – Montreal, Quebec, Bell Centre
July 23 – Toronto, Ontario, Air Canada Centre
July 26 – Washington, D.C., Verizon Center
July 27 – Columbus, Ohio, Schottenstein Center
July 29 – Louisville, Ky., KFC Yum! Center
July 30 – Auburn Hills, Mich., The Palace Of Auburn Hills
Aug. 2 – Rosemont, Ill., Allstate Arena
Aug. 3 – Indianapolis, Ind., Bankers Life Fieldhouse
Aug. 5 – St. Louis, Mo., Scottrade Center
Aug. 6 – Kansas City, Mo., Sprint Center
Aug. 9 – Denver, Colo., Pepsi Center
Aug. 11 – Salt Lake City, Utah, EnergySolutions Arena
Aug. 13 – Las Vegas, Nev., MGM Grand Garden Arena
Aug. 14 – Chula Vista, Calif., Sleep Train Amphitheatre
Aug. 17 – Anaheim, Calif., Honda Center
Aug. 18 – San Jose, Calif., SAP Center At San Jose
Aug. 20 – Portland, Ore., Moda Center
Aug. 21 – Seattle, Wash., KeyArena At Seattle Center
Aug. 24 – Vancouver, British Columbia, Rogers Arena
Aug. 26 – Edmonton, Alberta, Rexall Place
Aug. 27 – Calgary, Alberta, Scotiabank Saddledome
Aug. 29 – Winnipeg, Manitoba, MTS Centre
Aug. 31 – Saint Paul, Minn., MN State Fairgrounds
Sept. 2 – Cleveland, Ohio, Quicken Loans Arena
Sept. 7 – Nashville, Tenn., Bridgestone Arena
Sept. 9 – Houston, Texas, Toyota Center
Sept. 10 – San Antonio, Texas, ATT Center
Sept. 12 – Dallas, Texas, American Airlines Center
WASHINGTON — U.S. Sen. Tom Cotton’s recent trip to Israel with his wife was the third most expensive privately financed trip a member of Congress has taken in the past 15 years, according to Legistorm.
The political news service reported that the $36,000 week-long trip sponsored by the American Israel Education Foundation, the charity arm of pro-Israel lobbying giant the American Israel Public Affairs Committee, included about $14,000 for transportation and $4,000 for lodging and meals. Security expenses of $7,000 were included in the rest of the $18,000 in costs.
On the trip, the Republican from Arkansas met with Prime Minister Benjamin Netanyahu and Defense Minister Moshe Ya’alon.
Cotton also ate Sabbath dinner with a family that moved to Israel from the United States 15 years ago. And he visited the Golan Heights, a long-disputed mountainous region along the Israel-Syria border.
In 2014, the American Israel Education Foundation was the largest sponsor of trips by members of Congress, spending more than $1 million on 89 trips throughout the year, according to Legistorm.
2016 CANDIDATES
On Tuesday, Wednesday and Thursday former Arkansas Gov. Mike Huckabee campaigned in Iowa. On Friday, he and several other Republican candidates for president spoke at the New Hampshire Housing Summit. He held a rally in North Carolina on Saturday and to speak today at a candidate forum in Plano, Texas.
After the Democrats’ first debate Tuesday evening in Las Vegas, Hillary Rodham Clinton met Wednesday with members of the International Union of Painters and Allied Trades and held a rally. Thursday, she held a town hall meeting at Keene State College in New Hampshire. On Friday, she campaigned in Atlanta.
She is scheduled to appear today on CNN’s State of the Union with host Jake Tapper. The show airs at 8 a.m. and 11 a.m.
Clinton is scheduled to attend an event in Alexandria, Va., on Friday.
DELEGATION
Congress returns this week after a weeklong break.
On Tuesday, U.S. Sen. John Boozman, R-Ark., spoke at the Saline County Lincoln Day Dinner. On Thursday, he toured Mahle Engine Components USA Inc. and Taber Extrusions LLC in Russellville.
U.S. Rep. French Hill, R-Ark., visited the U.S.-Mexico border Monday and Tuesday, making a stop in Laredo, Texas, with U.S. Rep. Henry Cuellar, D-Texas.
On Wednesday, Hill spoke at the University of Arkansas at Little Rock’s College of Business Distinguished Alumni luncheon. On Friday, he visited the North Little Rock Fire Department.
U.S. Rep. Rick Crawford, R-Ark., toured Manna Food Pantry in Newport with Newport Pentecostal Church of God pastor Jay Cox and met with county judges from Cross, Jackson and Poinsett counties on Tuesday.
On Wednesday, he hosted an Ag-Tech Symposium in Jonesboro. Crawford spoke Thursday at the Jonesboro Rotary Club, visited Piggott Municipal Airport, met with Corning Mayor Rob Young and toured Lawrence County Future Farmers of America’s Farm to School Lunch Program.
U.S. Rep. Steve Womack, R-Ark., attended an assembly at Flippin High School, spoke to the Bull Shoals-Lakeview Rotary and visited the Boone County Extension office in Harrison on Wednesday.
On Thursday, he spoke at the 60th Midwest Groundwater Conference in Bentonville, and at the Northwest Arkansas Certified Commercial Investment Member luncheon.
U.S. Rep. Bruce Westerman, R-Ark., visited several 4th District tourism sites last week, including historic Washington State Park in Hempstead County, Hot Springs National Park in Garland County, Mount Magazine State Park in Logan County and the Buffalo River Outdoor Center and Hawksbill Crag in Newton County. The tour wraps up Monday in Queen Wilhelmina State Park in Polk County and Crater of Diamonds State Park in Pike County.
EDUCATION GRANTS
Two predominantly black Arkansas colleges were among 23 schools nationally that split $13.7 million from the U.S. Department of Education last week.
Arkansas State University Mid-South in West Memphis received $599,998, and Pulaski Technical College in North Little Rock received $599,758.
BOONE — Building on a rich history of service to the High Country community, Hound Ears Club recently completed a successful fundraising effort, the 14th annual Hound Ears Open on Aug. 7-8.
Proceeds from the Open — as well as other donations — exceeded $130,000. The two-day event included a golf tournament, putting contest, cocktail party, live auction, silent auction and raffle.
The 2015 Hound Ears Open will benefit Chestnut Ridge, Appalachian Regional Healthcare System’s proposed post-acute care rehabilitative facility in Blowing Rock. The Open represents the final phase of a five-year goal to contribute to the creation of the post-acute care rehabilitative facility. The facility will capitalize on a neighborhood concept and provide rehabilitation services, memory support care, extended care, palliative care and primary care in an on-site outpatient clinic. During the past five years, the Hound Ears Open raised in excess of $500,000. The Gymnasium/Physical Therapy area of the facility will be named after Hound Ears Club.
“The Appalachian Regional Healthcare System is a vital part of this vibrant community and we are honored to be working with them. Hound Ears residents are very fortunate to have a modern medical system right here in our county,” said Hound Ears Club member and Open co-chair Libba Gaither. Along with Gaither, Hound Ears Club member Alma Greene served as co-chair.
For the past five decades, Hound Ears Club has supported many community-based projects benefitting the High Country’s regional healthcare system – including the Seby B. Jones Regional Cancer Center, Blowing Rock Rehabilitation/Davant Extended Care Center and the ARHS Cardiology Center in Boone.
“In planning this event, we began meeting with the Hound Ears committee many months ago,” said Rob Hudspeth, ARHA Senior Vice President for System Advancement. “It was apparent from the beginning that they were committed to being successful with this fundraiser,” he said. “In fact, their dedication to Appalachian Regional Healthcare System throughout the years has been tremendous. We so much appreciate their support for Chestnut Ridge and look forward to standing beside them next summer at the ribbon-cutting.”
The history of the Hound Ears Open stretches back to 1970. Following the death of Hound Ears co-founder Grover Robbins from cancer, brothers Spencer and Harry Robbins launched a golf tournament to honor Grover’s memory; the Open continued to grow in scope and size from there.
Centrally located near Boone, Blowing Rock and Banner Elk, N.C., Hound Ears Club comprises 750 acres nestled in the Blue Ridge Mountains. Established in 1964, the private community’s golf course was recently named a “Top 100 Tar Heel” course by Business North Carolina for the seventh consecutive year. Memberships are available for residents and non-residents.
For more information, visit the Hound Ears Club website at houndears.com.
Gary Sinise and Collective Soul Help Salute Our Nation’s Heroes
October 26, 2015 // Franchising.com // RALEIGH, N.C. – On Wednesday, November 11, for the 15th consecutive year Golden Corral will once again thank thousands of active duty and retired United States military personnel for their service with a free dinner buffet and beverage, while also raising donations for the DAV (Disabled American Veterans). A tradition started 14 years ago to celebrate our nation’s heroes, Golden Corral’s Military Appreciation Night has served more than 4.4 million complimentary meals to military personnel and generated more than $10.2 million dollars in guest contributions to support community-based service initiatives for veterans.
“The entire Golden Corral system is very passionate about supporting our military service men and women, and we believe thanking them with a free dinner buffet Kerryis one way to show our immense appreciation for their service to our country,” said Lance Trenary, president and chief executive officer of Golden Corral. “We are very honored to have raised more than $10.2 million for the DAV over the years and look forward to adding to that total again this year.”
Golden Corral has enlisted Gary Sinise, celebrated actor/humanitarian, and Collective Soul, the platinum award-winning band, to record public service announcements for Military Appreciation Night. Sinise and Collective Soul are all actively involved in supporting active duty and retired military personnel through a variety of organizations and initiatives including tours to military installations overseas.
“This is the 11th year I’ve had the pleasure to partner with Golden Corral in supporting our troops, past and present, through Military Appreciation Night,” said Sinise. “The number of meals given away and amount of money donated in the past 14 years really distinguishes Golden Corral’s commitment to the military. I’m proud and happy to help raise awareness for Golden Corral Military Appreciation Night.”
Golden Corral will serve free dinner buffets with beverage from 5 p.m. to 9 p.m. on November 11 to any person who is or has served in a United States Military branch, including the National Guard and Reserves. State and local DAV representatives will be on-site at all Golden Corral locations coordinating the collection of donations from customers. While only current and former military qualify for the free meal, everyone is encouraged to come out and show support for our veterans. For more information on Military Appreciation Night, please visit http://www.goldencorral.com/military/.
About Golden Corral Corporation
Founded in 1973, privately held Golden Corral Corp. is headquartered in Raleigh, N.C. Lance Trenary serves as its president and chief executive officer. Golden Corral currently has 491 restaurants in 41 states. The company’s vision is to be the leader in the family restaurant segment by making pleasurable dining affordable for every guest, at every restaurant, every day. Golden Corral restaurants nationwide have long been strong supporters of the U.S. Military and the Disabled American Veterans (DAV). Golden Corral helped raise more than $1.4 million dollars for the DAV in 2014 as part of its annual “Military Appreciation” initiative. Golden Corral is the founding sponsor of Camp Corral, a free “week of a lifetime” summer camp for children of wounded, disabled or fallen military families ( www.campcorral.org ). For more information on Golden Corral, visit www.goldencorral.com.
About DAV (Disabled Veteran Americans)
DAV empowers veterans to lead high-quality lives with respect and dignity. It is dedicated to a single purpose: fulfilling our promises to the men and women who served. DAV does this by ensuring that veterans and their families can access the full range of benefits available to them; fighting for the interests of America’s injured heroes on Capitol Hill; connecting veterans and their families with employment resources and educating the public about the great sacrifices and needs of veterans transitioning back to civilian life. DAV, a non–profit organization with 1.2 million members, was founded in 1920 and chartered by the U.S. Congress in 1932. For more information, visit the organization’s website at www.dav.org.
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CHARLOTTE, N.C., Oct. 26, 2015 /PRNewswire/ –LendingTree, Inc. (NASDAQ: TREE), operator of LendingTree.com, the nation’s leading online loan marketplace, today announced results for the quarter ended September 30, 2015.
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CHARLOTTE, N.C., Oct. 26, 2015 /PRNewswire/ –LendingTree, Inc. (NASDAQ: TREE), operator of LendingTree.com, the nation’s leading online loan marketplace, today announced results for the quarter ended September 30, 2015.
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CHARLOTTE, N.C., Oct. 26, 2015 /PRNewswire/ — LendingTree, Inc. (NASDAQ: TREE), operator of LendingTree.com, the nation’s leading online loan marketplace, today announced results for the quarter ended September 30, 2015.
Doug Lebda, Chairman and CEO. “In mortgage, our increasingly analytics-driven approach to sales provided for meaningful wins. We brought on new lenders while increasing sales within our existing lender network, and we invested heavily into marketing to drive additional volume. These results and our continued momentum in new categories give us the confidence to, once again, raise our outlook for this year and issue full-year 2016 guidance.”
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Doug Lebda, Chairman and CEO. “In mortgage, our increasingly analytics-driven approach to sales provided for meaningful wins. We brought on new lenders while increasing sales within our existing lender network, and we invested heavily into marketing to drive additional volume. These results and our continued momentum in new categories give us the confidence to, once again, raise our outlook for this year and issue full-year 2016 guidance.”
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“LendingTree performed exceptionally well in the third quarter, recording year-over-year growth in every lending category,” said Doug Lebda, Chairman and CEO. “In mortgage, our increasingly analytics-driven approach to sales provided for meaningful wins. We brought on new lenders while increasing sales within our existing lender network, and we invested heavily into marketing to drive additional volume. These results and our continued momentum in new categories give us the confidence to, once again, raise our outlook for this year and issue full-year 2016 guidance.”
Gabe Dalporto, Chief Financial Officer added, “In another record quarter, we’re pleased to see the accelerated growth trajectory of both our mortgage and non-mortgage offerings. We are particularly excited about credit cards, which has emerged as a significant revenue driver, delivering $2.7 million in revenue in Q3, up from less than half a million in the prior quarter. In addition to terrific performance in the business, I am also happy to announce that last week, we closed on a $125 million revolving credit facility. We’re seeing an accelerating number of acquisition opportunities in the market and while none are immediately actionable, this facility gives us the flexibility to execute on attractive and accretive opportunities.”
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Gabe Dalporto, Chief Financial Officer added, “In another record quarter, we’re pleased to see the accelerated growth trajectory of both our mortgage and non-mortgage offerings. We are particularly excited about credit cards, which has emerged as a significant revenue driver, delivering $2.7 million in revenue in Q3, up from less than half a million in the prior quarter. In addition to terrific performance in the business, I am also happy to announce that last week, we closed on a $125 million revolving credit facility. We’re seeing an accelerating number of acquisition opportunities in the market and while none are immediately actionable, this facility gives us the flexibility to execute on attractive and accretive opportunities.”
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Gabe Dalporto, Chief Financial Officer added, “In another record quarter, we’re pleased to see the accelerated growth trajectory of both our mortgage and non-mortgage offerings. We are particularly excited about credit cards, which has emerged as a significant revenue driver, delivering $2.7 million in revenue in Q3, up from less than half a million in the prior quarter. In addition to terrific performance in the business, I am also happy to announce that last week, we closed on a $125 million revolving credit facility. We’re seeing an accelerating number of acquisition opportunities in the market and while none are immediately actionable, this facility gives us the flexibility to execute on attractive and accretive opportunities.”
Third Quarter 2015 Business Highlights
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Third Quarter 2015 Business Highlights
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Third Quarter 2015 Business Highlights
Revenue from mortgage products of $44.2 million, represents an increase of 38% over third quarter 2014 and an increase of 19% sequentially versus second quarter 2015.
Revenue from non-mortgage products of $25.6 million in the third quarter represents an increase of 175% over the third quarter 2014 and now comprises 37% of total revenue.
Included in the non-mortgage results, revenue from our personal loans offering grew to $15.6 million, up 325% over third quarter 2014 and up 35% sequentially.
Also included in non-mortgage, revenue from our credit cards product grew to $2.7 million from $0.4 million in the prior quarter.
Enrollment growth in My LendingTree continued, as more than 2 million consumers have now joined the My LendingTree personalization platform. Notably, we achieved the second million users in approximately half the time it took to obtain the first million.
LendingTree Selected Financial Metrics
(In millions, except per share amounts)
Q/Q
Y/Y
Q3 2015
Q2 2015
% Change
Q3 2014
% Change
Revenue by Product
Mortgage Products (1)
$
44.2
$
37.2
19
%
$
32.0
38
%
Non-Mortgage Products (2)
25.6
17.9
43
%
9.3
175
%
Total Revenue
$
69.8
$
55.1
27
%
$
41.3
69
%
Non-Mortgage % of Total
37
%
32
%
23
%
Selling and Marketing Expense
Exchanges Marketing Expense (3)
$
45.5
$
33.7
35
%
$
24.6
85
%
Other Marketing
3.4
3.2
6
%
2.6
31
%
Selling and Marketing Expense
$
48.9
$
36.9
33
%
$
27.2
80
%
Variable Marketing Margin (4)
$
24.3
$
21.4
14
%
$
16.7
46
%
Variable Marketing Margin % of Revenue
35
%
39
%
40
%
Net Income from Continuing Operations
$
7.4
$
6.4
16
%
$
0.6
1133
%
Net Income from Cont. Ops. % of Revenue
11
%
12
%
1
%
Net Income per Share from Cont. Ops.
Basic
$
0.65
$
0.57
14
%
$
0.05
1200
%
Diluted
$
0.59
$
0.52
13
%
$
0.05
1080
%
Adjusted EBITDA (5)
$
11.0
$
8.9
24
%
$
5.8
90
%
Adjusted EBITDA % of Revenue (5)
16
%
16
%
14
%
Adjusted Net Income (5)
$
9.8
$
7.8
26
%
$
4.9
100
%
Adjusted Net Income per Share (5)
$
0.79
$
0.63
25
%
$
0.41
93
%
(1)
Includes the purchase mortgage, refinance mortgage and rate table products.
(2)
Includes the home equity, reverse mortgage, personal loan, credit card, small business loan, student loan, auto loan, education, home services, insurance and personal credit products.
(3)
Defined as the portion of selling and marketing expense attributable to variable costs paid for advertising, direct marketing and related expenses, which excludes overhead, fixed costs and personnel-related expenses.
(4)
Defined as revenue minus Exchanges marketing expense and is considered an operating metric.
(5)
Adjusted EBITDA, adjusted EBITDA % of revenue, adjusted net income and adjusted net income per share are non-GAAP measures. Please see “LendingTree’s Reconciliation of Non-GAAP Measures to GAAP” and “LendingTree’s Principles of Financial Reporting” below for more information.
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LendingTree Selected Financial Metrics
(In millions, except per share amounts)
Q/Q
Y/Y
Q3 2015
Q2 2015
% Change
Q3 2014
% Change
Revenue by Product
Mortgage Products (1)
$
44.2
$
37.2
19
%
$
32.0
38
%
Non-Mortgage Products (2)
25.6
17.9
43
%
9.3
175
%
Total Revenue
$
69.8
$
55.1
27
%
$
41.3
69
%
Non-Mortgage % of Total
37
%
32
%
23
%
Selling and Marketing Expense
Exchanges Marketing Expense (3)
$
45.5
$
33.7
35
%
$
24.6
85
%
Other Marketing
3.4
3.2
6
%
2.6
31
%
Selling and Marketing Expense
$
48.9
$
36.9
33
%
$
27.2
80
%
Variable Marketing Margin (4)
$
24.3
$
21.4
14
%
$
16.7
46
%
Variable Marketing Margin % of Revenue
35
%
39
%
40
%
Net Income from Continuing Operations
$
7.4
$
6.4
16
%
$
0.6
1133
%
Net Income from Cont. Ops. % of Revenue
11
%
12
%
1
%
Net Income per Share from Cont. Ops.
Basic
$
0.65
$
0.57
14
%
$
0.05
1200
%
Diluted
$
0.59
$
0.52
13
%
$
0.05
1080
%
Adjusted EBITDA (5)
$
11.0
$
8.9
24
%
$
5.8
90
%
Adjusted EBITDA % of Revenue (5)
16
%
16
%
14
%
Adjusted Net Income (5)
$
9.8
$
7.8
26
%
$
4.9
100
%
Adjusted Net Income per Share (5)
$
0.79
$
0.63
25
%
$
0.41
93
%
(1)
Includes the purchase mortgage, refinance mortgage and rate table products.
(2)
Includes the home equity, reverse mortgage, personal loan, credit card, small business loan, student loan, auto loan, education, home services, insurance and personal credit products.
(3)
Defined as the portion of selling and marketing expense attributable to variable costs paid for advertising, direct marketing and related expenses, which excludes overhead, fixed costs and personnel-related expenses.
(4)
Defined as revenue minus Exchanges marketing expense and is considered an operating metric.
(5)
Adjusted EBITDA, adjusted EBITDA % of revenue, adjusted net income and adjusted net income per share are non-GAAP measures. Please see “LendingTree’s Reconciliation of Non-GAAP Measures to GAAP” and “LendingTree’s Principles of Financial Reporting” below for more information.
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Third Quarter 2015 Financial Highlights
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Third Quarter 2015 Financial Highlights
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Third Quarter 2015 Financial Highlights
Record total revenue in the third quarter 2015 of $69.8 million represents an increase of $28.5 million, or 69%, over revenue in the third quarter 2014.
Record Variable Marketing Margin of $24.3 million represents an increase of $7.6 million, or 46%, over third quarter 2014. At 35% of revenue, this reflects an increased investment in brand-building television advertising.
Adjusted EBITDA of $11.0 million increased $5.2 million, or 90%, over third quarter 2014.
Adjusted Net Income per Share of $0.79 represents an increase of $0.38, or 93%, over third quarter 2014.
Working capital increased to $95.1 million at September 30, 2015, compared with $88.7 million at June 30, 2015. Working capital is calculated as current assets (including unrestricted and restricted cash) minus current liabilities (including loan loss reserves).
On October 22, 2015, the company entered into a credit agreement providing for a five-year $125 million senior secured revolving credit facility to finance potential acquisitions and other growth initiatives, capital expenditures, and general corporate purposes.
Business Outlook – 2015 2016
–>Business Outlook – 2015 2016
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Business Outlook – 2015 2016
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LendingTree is increasing Revenue, Variable Marketing Margin and Adjusted EBITDA guidance for full-year 2015 and issuing full-year 2016 guidance, as follows:
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For full-year 2015:
Revenue is now anticipated to be $244 – $247 million, or 46% – 48% over full-year 2014, an increase from previous guidance of $225 – $230 million. This implies fourth quarter revenue of $68.1 – $71.1 million
Variable Marketing Margin is now anticipated to be in the range of $89 – $91 million, an increase of 37% – 40% over full-year 2014 and up from previous guidance of $86 – $89 million. This implies fourth quarter variable marketing margin of $22 – $24 million.
Adjusted EBITDA is now anticipated to be in the range of $38.3 – $38.8 million, implying year-over-year growth of 75% – 78%, an increase from previous guidance of $35 – $36 million. This implies fourth quarter Adjusted EBITDA of $9.5 – $10.0 million.
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For full-year 2016:
Revenue is anticipated to be in the range of $315 – $320 million, or 28% – 30% over the midpoint of FY 2015 guidance.
Variable Marketing Margin is anticipated to be $108 – $112 million, an increase of 20% – 24% over the midpoint of FY 2015 guidance.
Adjusted EBITDA is anticipated to be in the range of $50 – $52 million, implying year-over-year growth of 30% – 35% compared to the midpoint of FY 2015 guidance.
Quarterly Conference Call
–>Quarterly Conference Call
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Quarterly Conference Call
October 26, 2015 at 8:00 AM Eastern Time (ET). The live audiocast is open to the public and will be available on LendingTree’s investor relations website at http://investors.lendingtree.com/. The call may also be accessed toll-free via phone at (877) 606-1416. Callers outside the United States and Canada may dial (707) 287-9313. Following completion of the call, a recorded replay of the webcast will be available on LendingTree’s investor relations website until 11:59 PM ET on Saturday, October 31, 2015. To listen to the telephone replay, call toll-free (855) 859-2056 with passcode #60717703. Callers outside the United States and Canada may dial (404) 537-3406with passcode #60717703.
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October 26, 2015 at 8:00 AM Eastern Time (ET). The live audiocast is open to the public and will be available on LendingTree’s investor relations website at http://investors.lendingtree.com/. The call may also be accessed toll-free via phone at (877) 606-1416. Callers outside the United States and Canada may dial (707) 287-9313. Following completion of the call, a recorded replay of the webcast will be available on LendingTree’s investor relations website until 11:59 PM ET on Saturday, October 31, 2015. To listen to the telephone replay, call toll-free (855) 859-2056 with passcode #60717703. Callers outside the United States and Canada may dial (404) 537-3406with passcode #60717703.
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A conference call to discuss LendingTree’s third quarter 2015 financial results will be webcast live today, October 26, 2015 at 8:00 AM Eastern Time (ET). The live audiocast is open to the public and will be available on LendingTree’s investor relations website at http://investors.lendingtree.com/. The call may also be accessed toll-free via phone at (877) 606-1416. Callers outside the United States and Canada may dial (707) 287-9313. Following completion of the call, a recorded replay of the webcast will be available on LendingTree’s investor relations website until 11:59 PM ET on Saturday, October 31, 2015. To listen to the telephone replay, call toll-free (855) 859-2056 with passcode #60717703. Callers outside the United States and Canada may dial (404) 537-3406with passcode #60717703.
LENDINGTREE,INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
Three Months Ended September 30,
Nine Months Ended September 30,
2015
2014
2015
2014
(inthousands,exceptpershareamounts)
Revenue
$
69,804
$
41,306
$
175,875
$
123,486
Costs and expenses:
Cost of revenue (exclusive of depreciation) (1)
2,436
2,110
6,402
5,670
Selling and marketing expense (1)
48,901
27,168
118,615
83,581
General and administrative expense (1)
7,069
6,590
21,336
18,201
Product development (1)
2,675
1,658
7,238
5,416
Depreciation
764
840
2,135
2,541
Amortization of intangibles
25
41
124
96
Restructuring and severance
28
7
422
232
Litigation settlements and contingencies
133
2,338
(663)
10,430
Total costs and expenses
62,031
40,752
155,609
126,167
Operating income (loss)
7,773
554
20,266
(2,681)
Other income (expense), net:
Interest expense
(1)
(1)
(63)
(1)
Income (loss) before income taxes
7,772
553
20,203
(2,682)
Income tax (expense) benefit
(389)
2
(968)
86
Net income (loss) from continuing operations
7,383
555
19,235
(2,596)
Loss from discontinued operations
(1,295)
(174)
(3,238)
(3,679)
Net income (loss)
$
6,088
$
381
$
15,997
$
(6,275)
Weighted average shares outstanding:
Basic
11,445
11,182
11,378
11,180
Diluted
12,489
11,836
12,379
11,180
Income (loss) per share from continuing operations:
Basic
$
0.65
$
0.05
$
1.69
$
(0.23)
Diluted
$
0.59
$
0.05
$
1.55
$
(0.23)
Loss per share from discontinued operations:
Basic
$
(0.11)
$
(0.02)
$
(0.28)
$
(0.33)
Diluted
$
(0.10)
$
(0.01)
$
(0.26)
$
(0.33)
Net income (loss) per share:
Basic
$
0.53
$
0.03
$
1.41
$
(0.56)
Diluted
$
0.49
$
0.03
$
1.29
$
(0.56)
(1) Amounts include non-cash compensation, as follows:
Cost of revenue
$
24
$
11
$
68
$
24
Selling and marketing expense
425
205
1,080
664
General and administrative expense
1,178
1,292
3,909
3,281
Product development
351
278
1,176
854
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LENDINGTREE,INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
Three Months Ended September 30,
Nine Months Ended September 30,
2015
2014
2015
2014
(inthousands,exceptpershareamounts)
Revenue
$
69,804
$
41,306
$
175,875
$
123,486
Costs and expenses:
Cost of revenue (exclusive of depreciation) (1)
2,436
2,110
6,402
5,670
Selling and marketing expense (1)
48,901
27,168
118,615
83,581
General and administrative expense (1)
7,069
6,590
21,336
18,201
Product development (1)
2,675
1,658
7,238
5,416
Depreciation
764
840
2,135
2,541
Amortization of intangibles
25
41
124
96
Restructuring and severance
28
7
422
232
Litigation settlements and contingencies
133
2,338
(663)
10,430
Total costs and expenses
62,031
40,752
155,609
126,167
Operating income (loss)
7,773
554
20,266
(2,681)
Other income (expense), net:
Interest expense
(1)
(1)
(63)
(1)
Income (loss) before income taxes
7,772
553
20,203
(2,682)
Income tax (expense) benefit
(389)
2
(968)
86
Net income (loss) from continuing operations
7,383
555
19,235
(2,596)
Loss from discontinued operations
(1,295)
(174)
(3,238)
(3,679)
Net income (loss)
$
6,088
$
381
$
15,997
$
(6,275)
Weighted average shares outstanding:
Basic
11,445
11,182
11,378
11,180
Diluted
12,489
11,836
12,379
11,180
Income (loss) per share from continuing operations:
Basic
$
0.65
$
0.05
$
1.69
$
(0.23)
Diluted
$
0.59
$
0.05
$
1.55
$
(0.23)
Loss per share from discontinued operations:
Basic
$
(0.11)
$
(0.02)
$
(0.28)
$
(0.33)
Diluted
$
(0.10)
$
(0.01)
$
(0.26)
$
(0.33)
Net income (loss) per share:
Basic
$
0.53
$
0.03
$
1.41
$
(0.56)
Diluted
$
0.49
$
0.03
$
1.29
$
(0.56)
(1) Amounts include non-cash compensation, as follows:
Cost of revenue
$
24
$
11
$
68
$
24
Selling and marketing expense
425
205
1,080
664
General and administrative expense
1,178
1,292
3,909
3,281
Product development
351
278
1,176
854
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LENDINGTREE,INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(Unaudited)
September 30, 2015
December 31, 2014
(inthousands, except par value and share amounts)
ASSETS:
Cash and cash equivalents
$
106,251
$
86,212
Restricted cash and cash equivalents
18,621
18,716
Accounts receivable, net
25,181
13,611
Prepaid and other current assets
1,708
931
Current assets of discontinued operations
289
189
Total current assets
152,050
119,659
Property and equipment, net
7,959
5,257
Goodwill
3,632
3,632
Intangible assets, net
11,017
11,141
Other non-current assets
126
102
Non-current assets of discontinued operations
100
Total assets
$
174,784
$
139,891
LIABILITIES:
Accounts payable, trade
$
6,245
$
1,060
Accrued expenses and other current liabilities
36,174
25,521
Current liabilities of discontinued operations
14,529
12,055
Total current liabilities
56,948
38,636
Other non-current liabilities
273
Deferred income taxes
4,738
4,738
Non-current liabilities of discontinued operations
31
151
Total liabilities
61,990
43,525
SHAREHOLDERS’ EQUITY:
Preferred stock $.01 par value; 5,000,000 shares authorized; none issued or outstanding
Common stock $.01 par value; 50,000,000 shares authorized; 13,013,767 and 12,854,517shares issued, respectively, and 11,540,240 and 11,386,240 shares outstanding, respectively
130
129
Additional paid-in capital
910,399
909,751
Accumulated deficit
(782,174)
(798,171)
Treasury stock 1,473,527 and 1,468,277 shares, respectively
(15,561)
(15,343)
Total shareholders’ equity
112,794
96,366
Total liabilities and shareholders’ equity
$
174,784
$
139,891
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LENDINGTREE,INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(Unaudited)
September 30, 2015
December 31, 2014
(inthousands, except par value and share amounts)
ASSETS:
Cash and cash equivalents
$
106,251
$
86,212
Restricted cash and cash equivalents
18,621
18,716
Accounts receivable, net
25,181
13,611
Prepaid and other current assets
1,708
931
Current assets of discontinued operations
289
189
Total current assets
152,050
119,659
Property and equipment, net
7,959
5,257
Goodwill
3,632
3,632
Intangible assets, net
11,017
11,141
Other non-current assets
126
102
Non-current assets of discontinued operations
100
Total assets
$
174,784
$
139,891
LIABILITIES:
Accounts payable, trade
$
6,245
$
1,060
Accrued expenses and other current liabilities
36,174
25,521
Current liabilities of discontinued operations
14,529
12,055
Total current liabilities
56,948
38,636
Other non-current liabilities
273
Deferred income taxes
4,738
4,738
Non-current liabilities of discontinued operations
31
151
Total liabilities
61,990
43,525
SHAREHOLDERS’ EQUITY:
Preferred stock $.01 par value; 5,000,000 shares authorized; none issued or outstanding
Common stock $.01 par value; 50,000,000 shares authorized; 13,013,767 and 12,854,517shares issued, respectively, and 11,540,240 and 11,386,240 shares outstanding, respectively
130
129
Additional paid-in capital
910,399
909,751
Accumulated deficit
(782,174)
(798,171)
Treasury stock 1,473,527 and 1,468,277 shares, respectively
(15,561)
(15,343)
Total shareholders’ equity
112,794
96,366
Total liabilities and shareholders’ equity
$
174,784
$
139,891
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–>
LENDINGTREE’S RECONCILIATION OF NON-GAAP MEASURES TO GAAP
Below is a reconciliation of adjusted EBITDA and adjusted net income to net income from continuing operations, adjusted EBITDA % of revenue to net income from continuing operations % of revenue and adjusted net income per share to net income per diluted share from continuing operations. See “LendingTree’s Principles of Financial Reporting” for further discussion of the Company’s use of these non-GAAP measures.
Three Months Ended
September 30, 2015
June 30, 2015
September 30, 2014
Adjusted EBITDA
$
10,999
$
8,902
$
5,791
Adjusted EBITDA % of revenue
16
%
16
%
14
%
Adjustments to reconcile to net income from continuing operations:
Depreciation
(764)
(717)
(840)
Amortization of intangibles
(25)
(37)
(41)
Interest expense
(1)
(64)
(1)
Income tax (expense) benefit
(389)
(272)
2
Adjusted net income
9,820
7,812
4,911
Non-cash compensation
(1,978)
(1,919)
(1,786)
Loss on disposal of assets
(64)
(10)
(185)
Estimated settlement for unclaimed property
(134)
Acquisition expense
(234)
(40)
Restructuring and severance
(28)
(388)
(7)
Litigation settlements and contingencies (1)
(133)
1,078
(2,338)
Net income from continuing operations
$
7,383
$
6,439
$
555
Net income from continuing operations % of revenue
11
%
12
%
1
%
Adjusted net income per share
$
0.79
$
0.63
$
0.41
Adjustments to reconcile adjusted net income to net income from continuing operations
$
(0.20)
$
(0.11)
$
(0.36)
Adjustments to reconcile effect of dilutive securities
$
$
$
Net income per diluted share from continuing operations
$
0.59
$
0.52
$
0.05
Adjusted weighted average diluted shares outstanding
12,489
12,334
11,836
Effect of dilutive securities
Weighted average diluted shares outstanding
12,489
12,334
11,836
Effect of dilutive securities
1,044
952
654
Weighted average basic shares outstanding
11,445
11,382
11,182
(1)
Includes legal fees for certain patent litigation.
–>
LENDINGTREE’S RECONCILIATION OF NON-GAAP MEASURES TO GAAP
Below is a reconciliation of adjusted EBITDA and adjusted net income to net income from continuing operations, adjusted EBITDA % of revenue to net income from continuing operations % of revenue and adjusted net income per share to net income per diluted share from continuing operations. See “LendingTree’s Principles of Financial Reporting” for further discussion of the Company’s use of these non-GAAP measures.
Three Months Ended
September 30, 2015
June 30, 2015
September 30, 2014
Adjusted EBITDA
$
10,999
$
8,902
$
5,791
Adjusted EBITDA % of revenue
16
%
16
%
14
%
Adjustments to reconcile to net income from continuing operations:
Depreciation
(764)
(717)
(840)
Amortization of intangibles
(25)
(37)
(41)
Interest expense
(1)
(64)
(1)
Income tax (expense) benefit
(389)
(272)
2
Adjusted net income
9,820
7,812
4,911
Non-cash compensation
(1,978)
(1,919)
(1,786)
Loss on disposal of assets
(64)
(10)
(185)
Estimated settlement for unclaimed property
(134)
Acquisition expense
(234)
(40)
Restructuring and severance
(28)
(388)
(7)
Litigation settlements and contingencies (1)
(133)
1,078
(2,338)
Net income from continuing operations
$
7,383
$
6,439
$
555
Net income from continuing operations % of revenue
11
%
12
%
1
%
Adjusted net income per share
$
0.79
$
0.63
$
0.41
Adjustments to reconcile adjusted net income to net income from continuing operations
$
(0.20)
$
(0.11)
$
(0.36)
Adjustments to reconcile effect of dilutive securities
$
$
$
Net income per diluted share from continuing operations
$
0.59
$
0.52
$
0.05
Adjusted weighted average diluted shares outstanding
12,489
12,334
11,836
Effect of dilutive securities
Weighted average diluted shares outstanding
12,489
12,334
11,836
Effect of dilutive securities
1,044
952
654
Weighted average basic shares outstanding
11,445
11,382
11,182
(1)
Includes legal fees for certain patent litigation.
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LENDINGTREE’S PRINCIPLES OF FINANCIAL REPORTING
–>
LENDINGTREE’S PRINCIPLES OF FINANCIAL REPORTING
–>
LENDINGTREE’S PRINCIPLES OF FINANCIAL REPORTING
–>
–>
LendingTree reports Earnings Before Interest, Taxes, Depreciation and Amortization, as adjusted for certain items discussed below (“Adjusted EBITDA”), Adjusted EBITDA % of revenue, adjusted net income and adjusted net income per share as supplemental measures to GAAP.
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–>
Adjusted EBITDA and Adjusted EBITDA % of revenue are primary metrics by which LendingTree evaluates the operating performance of its businesses, on which its marketing expenditures and internal budgets are based and, in the case of adjusted EBITDA, by which management and many employees are compensated. LendingTree believes that investors should have access to the same set of tools that it uses in analyzing its results. LendingTree believes that adjusted net income and adjusted net income per share are useful financial indicators that provide a different view of the financial performance of the Company than adjusted EBITDA (the primary metric by which LendingTree evaluates the operating performance of its businesses) and the GAAP measures of net income (loss) from continuing operations and GAAP income (loss) per diluted share.
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–>
Adjusted net income and adjusted net income per share supplement GAAP income (loss) from continuing operations and GAAP income (loss) per diluted share by enabling investors to make period to period comparisons of those components of the nearest comparable GAAP measures that management believes better reflect the underlying financial performance of the Company’s business operations during particular financial reporting periods. Adjusted net income and adjusted net income per share exclude certain amounts, such as non-cash compensation, non-cash asset impairment charges, gain/loss on disposal of assets, restructuring and severance, litigation settlements, contingencies and legal fees for certain patent litigation, and acquisition expenses, which are recognized and recorded under GAAP in particular periods but which might be viewed as not necessarily coinciding with the underlying business operations for the periods in which they are so recognized and recorded.
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–>
These non-GAAP measures should be considered in addition to results prepared in accordance with GAAP, but should not be considered a substitute for or superior to GAAP results. LendingTree provides and encourages investors to examine the reconciling adjustments between the GAAP and non-GAAP measures set forth above. LendingTree is not able to provide a reconciliation of projected adjusted EBITDA to expected reported results due to the unknown effect, timing and potential significance of the effects of the wind-down of discontinued operations and tax considerations.
Definition of LendingTree’s Non-GAAP Measures
–>
Definition of LendingTree’s Non-GAAP Measures
–>
Definition of LendingTree’s Non-GAAP Measures
–>
–>
EBITDA is defined as operating income or loss (which excludes interest expense and taxes) excluding amortization of intangibles and depreciation.
–>
–>
Adjusted EBITDA is defined as EBITDA excluding (1) non-cash compensation expense, (2) non-cash asset impairment charges, (3) gain/loss on disposal of assets, (4) restructuring and severance expenses, (5) litigation settlements, contingencies and legal fees for certain patent litigation, (6) adjustments for acquisitions or dispositions, and (7) one-time items.
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–>
Adjusted net income is defined as net income (loss) from continuing operations excluding (1) non-cash compensation expense, (2) non-cash asset impairment charges, (3) gain/loss on disposal of assets, (4) restructuring and severance expenses, (5) litigation settlements, contingencies and legal fees for certain patent litigation, (6) adjustments for acquisitions or dispositions, and (7) one-time items.
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–>
Adjusted net income per share is defined as adjusted net income divided by the adjusted weighted average diluted shares outstanding. In cases where the Company reported GAAP losses from continuing operations, the effects of potentially dilutive securities are excluded from the calculation of net loss per diluted share from continuing operations because their inclusion would have been anti-dilutive. In such instances where the Company reports GAAP net loss from continuing operations but reports positive non-GAAP adjusted net income, the effects of potentially dilutive securities are included in the denominator for calculating adjusted net income per share.
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–>
LendingTree endeavors to compensate for the limitations of these non-GAAP measures by also providing the comparable GAAP measures with equal or greater prominence and descriptions of the reconciling items, including quantifying such items, to derive the non-GAAP measures. These non-GAAP measures may not be comparable to similarly titled measures used by other companies.
One-Time Items
–>
One-Time Items
–>
One-Time Items
$0.1 million related to an estimated settlement for unclaimed property in the second quarter 2015.
–>
$0.1 million related to an estimated settlement for unclaimed property in the second quarter 2015.
–>
Adjusted EBITDA and adjusted net income are adjusted for one-time items, if applicable. Items are considered one-time in nature if they are non-recurring, infrequent or unusual, and have not occurred in the past two years or are not expected to recur in the next two years, in accordance with SEC rules. For the periods presented in this report, there are no adjustments for one-time items, except for $0.1 million related to an estimated settlement for unclaimed property in the second quarter 2015.
Non-Cash Expenses That Are Excluded From LendingTree’s Adjusted EBITDA and Adjusted Net Income
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Non-Cash Expenses That Are Excluded From LendingTree’s Adjusted EBITDA and Adjusted Net Income
–>
Non-Cash Expenses That Are Excluded From LendingTree’s Adjusted EBITDA and Adjusted Net Income
–>
–>
Non-cash compensation expense consists principally of expense associated with the grants of restricted stock, restricted stock units and stock options. These expenses are not paid in cash and LendingTree includes the related shares in its calculations of fully diluted shares outstanding. Upon settlement of restricted stock units, exercise of certain stock options or vesting of restricted stock awards, the awards may be settled on a net basis, with LendingTree remitting the required tax withholding amounts from its current funds.
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Amortization of intangibles are non-cash expenses relating primarily to acquisitions. At the time of an acquisition, the intangible assets of the acquired company, such as purchase agreements, technology and customer relationships, are valued and amortized over their estimated lives. Amortization of intangibles are only excluded from Adjusted EBITDA.
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995
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Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995
–>
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995
December 31, 2014 and our Quarterly Report on Form 10-Q for the period ended September 30, 2015, and in our other filings with the Securities and Exchange Commission. We undertake no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results or expectations.
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December 31, 2014 and our Quarterly Report on Form 10-Q for the period ended September 30, 2015, and in our other filings with the Securities and Exchange Commission. We undertake no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results or expectations.
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The matters contained in the discussion above may be considered to be “forward-looking statements” within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations or anticipations of LendingTree and members of our management team. Factors currently known to management that could cause actual results to differ materially from those in forward-looking statements include the following: adverse conditions in the primary and secondary mortgage markets and in the economy, particularly interest rates; willingness of lenders to make unsecured personal loans and purchase leads for such products from the Company; seasonality of results; potential liabilities to secondary market purchasers; changes in the Company’s relationships with network lenders; breaches of network security or the misappropriation or misuse of personal consumer information; failure to provide competitive service; failure to maintain brand recognition; ability to attract and retain customers in a cost-effective manner; ability to develop new products and services and enhance existing ones; competition; allegations of failure to comply with existing or changing laws, rules or regulations, or to obtain and maintain required licenses; failure of network lenders or other affiliated parties to comply with regulatory requirements; failure to maintain the integrity of systems and infrastructure; liabilities as a result of privacy regulations; failure to adequately protect intellectual property rights or allegations of infringement of intellectual property rights; and changes in management. These and additional factors to be considered are set forth under “Risk Factors” in our Annual Report on Form 10-K for the period ended December 31, 2014 and our Quarterly Report on Form 10-Q for the period ended September 30, 2015, and in our other filings with the Securities and Exchange Commission. We undertake no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results or expectations.
About LendingTree, Inc.
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About LendingTree, Inc.
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About LendingTree, Inc.
TREE) operates the nation’s leading online loan marketplace and provides consumers with an array of online tools and information to help them find the best loans for their needs. LendingTree’s online marketplace connects consumers with multiple lenders that compete for their business, empowering consumers as they comparison-shop across a full suite of loans and credit-based offerings. Since its inception, LendingTree has facilitated more than 55 million loan requests. LendingTree provides access to lenders offering home loans, home equity loans/lines of credit, reverse mortgages, personal loans, auto loans, small business loans, credit cards, student loans and more.
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TREE) operates the nation’s leading online loan marketplace and provides consumers with an array of online tools and information to help them find the best loans for their needs. LendingTree’s online marketplace connects consumers with multiple lenders that compete for their business, empowering consumers as they comparison-shop across a full suite of loans and credit-based offerings. Since its inception, LendingTree has facilitated more than 55 million loan requests. LendingTree provides access to lenders offering home loans, home equity loans/lines of credit, reverse mortgages, personal loans, auto loans, small business loans, credit cards, student loans and more.
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LendingTree, Inc. (NASDAQ: TREE) operates the nation’s leading online loan marketplace and provides consumers with an array of online tools and information to help them find the best loans for their needs. LendingTree’s online marketplace connects consumers with multiple lenders that compete for their business, empowering consumers as they comparison-shop across a full suite of loans and credit-based offerings. Since its inception, LendingTree has facilitated more than 55 million loan requests. LendingTree provides access to lenders offering home loans, home equity loans/lines of credit, reverse mortgages, personal loans, auto loans, small business loans, credit cards, student loans and more.
Charlotte, NC and maintains operations solely in the United States. For more information, please visitwww.lendingtree.com.
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Charlotte, NC and maintains operations solely in the United States. For more information, please visitwww.lendingtree.com.
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LendingTree, Inc. is headquartered in Charlotte, NC and maintains operations solely in the United States. For more information, please visit www.lendingtree.com.
The inaugural G Fest Music Festival hits June 16-18 at Hatbox Field, an old airfield located two miles west of downtown Muskogee. The outdoor country, rock and Americana lineup will feature Haggard along with The Avett Brothers, acclaimed Oklahoma band Turnpike Troubadours and red dirt outlaws Jason Boland The Stragglers.
In a 2014 interview with The Oklahoman, the Grammy-winning singer-songwriter shared his fondess for Oklahoma and his endearing hit.
“I think there’s several different messages in that song, but I think the most important was that I’m proud — and I am. I’m proud to be a second-generation Okie, and I’ve fought for the name. You know, I’ve shed blood over ‘Okie.’ … I’ve been in fist fights about being called an ‘Okie’ when it wasn’t complimentary,” he said. “Of course, over the years we’ve developed a lot of friendships, played (there) many times. I don’t know how many times we’ve played there in the state of Oklahoma, but it’s been a many a time.”
G Fest director Jim Blair said in a release that now’s a perfect opportunity to establish a unique Muskogee festival. He cited the city’s desire to repurpose Hatbox Airfield into a multi-event facility and the growth of the Oklahoma Music Hall of Fame during the past three years.
“We wanted to create an event to celebrate the rich music history of the area, and who better to perform than the Okie from Muskogee himself,” Blair said.
Muskogee Chamber of Commerce and Tourism head Treasure McKenzie said she’s eager about the economic impact and awareness this event will bring to Muskogee.
“The G Fest Music Festival will be the highlight of the 2016 calendar in Muskogee. Merle Haggard put us on the map, and celebrating our heritage through music solidifies Muskogee as Oklahoma’s Music City,” McKenzie said.
General Admission tickets are available for $79, and VIP Reserved Seating and VIP Party Pit tickets for $279 for a limited time. VIP Reserved Seating and VIP Party Pit gives ticket holders access to an exclusive area directly in front of the stage, parking, designated bathrooms and a separate bar. Camping is available starting at $80 and RV camping starting at $325. For more information, go to www.gfestmuskogee.com.
G Fest is funded through a joint effort by The Oklahoma Music Hall of Fame, The City of Muskogee, City of Muskogee Foundation and Muskogee Tourism. Net proceeds of the event will be used to further the mission of the music hall of fame and further develop the infrastructure of the Hatbox complex for future festivals.
In keeping with the Advantage Louisville 2020 plan, EnterpriseCorp, the entrepreneurial arm of Greater Louisville Inc., has been exploring the possibility of an entrepreneurial center in Louisville.
I have been traveling across the Midwest and Southeast to examine best practices among other entrepreneurial communities.
Startup and tech sectors are in constant motion, and it is important that our local business leadership grasps the new challenges and menu of proactive policies that promote a thriving economy. Density, mentorship, capital and effective university-supported entrepreneurship seem to be the pillars of dynamic entrepreneurial environments.
Contrary to most strategic planning initiatives, EnterpriseCorp aims to keep the community abreast of what was discovered after each visit as we learn new information. The goal is not to create “the big reveal,” but rather to follow along Brad Feld’s model On Startup Communities by sharing our findings with the community in real-time, because transformational entrepreneurship is constantly at work.
In early October, I visited the Durham/Raleigh, N.C., area on a trip curated by Joan Siefert Rose, president of their Council for Entrepreneurial Development (CED), a privately funded nonprofit comprised mostly of locally based corporate partners.
CED was launched in 1984, with client work and programs very similar to what EnterpriseCorp offers, but as the community grew, the organization evolved to become a connector for mentors and capital-building relationships with local angel groups, individuals and venture capital firms nationwide based on the region’s highest needs.
Durham’s AU and Raleigh’s HQ Raleigh offer co-working spaces that are in high demand and have waitlists. Raleigh, with a population of approximately 600,000, hosts a co-working, small office and general program space with 150 startups. It was started by a group of four entrepreneurs, one with experience in real estate, who were all willing to take the chance on a large facility and longterm growth.
AU was originally founded in part by the Durham Chamber, with their chief strategist eventually joining AU for the same role. AU is part of the American Tobacco Campus, created largely because of passion and generosity of the Goodmon family. The Goodmons view this facility as a break-even or even an operating loss building that can serve as a catalyst for entrepreneurial growth in the area.
The takeaways from North Carolina mirror the lessons from Brad Feld — the community has to rise to the occasion for transformational entrepreneurship. Support groups such as CED or EnterpriseCorp can lead the charge on research and conversation for the community, but it is only through the grassroots efforts of active entrepreneurs and passionate social investment that Louisville can rise to the top.
Amelia Gandara is the director of commercialization and engagement for GLI’s Enterprise Corp, where she and her colleagues seek to create a vibrant entrepreneurial ecosystem for small, early and second-stage fast-growth firms. Previously, Gandara was community manager for GE’s FirstBuild and holds a degree in chemical engineering from the University of Louisville. You can reach her at agandara@enterprisecorp.com.
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CHARLOTTE, N.C., Oct. 26, 2015 /PRNewswire/ — Infinisource, provider of iSolved, a cloud-based human capital management program, announced the addition of employee onboarding functionality built directly within the platform. It will help small-to-midsized companies improve efficiency of bringing on new hires, without any need for integration or importing/exporting.
–>CHARLOTTE, N.C., Oct. 26, 2015 /PRNewswire/ — Infinisource, provider of iSolved, a cloud-based human capital management program, announced the addition of employee onboarding functionality built directly within the platform. It will help small-to-midsized companies improve efficiency of bringing on new hires, without any need for integration or importing/exporting.
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CHARLOTTE, N.C., Oct. 26, 2015 /PRNewswire/ — Infinisource, provider of iSolved, a cloud-based human capital management program, announced the addition of employee onboarding functionality built directly within the platform. It will help small-to-midsized companies improve efficiency of bringing on new hires, without any need for integration or importing/exporting.
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Surveys show that up to 25 percent of U.S. workers are newcomers to their positions and are engaged in some type of onboarding process. Employee performance, satisfaction and retention often depend on how quickly and effectively they have been oriented and socialized into the company’s administration and culture. First tasks for new employees generally include a hand-cramping number of forms to fill out for human resources, accounting and other departments.
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New hires, managers and human resource departments will love the efficiency, accuracy and flexibility provided by iSolved’s new onboarding innovation. This addition is native to Infinisource’s human capital management solution and fully optimizes the way HR departments handle employee paperwork.
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Since iSolved Onboarding is native to the system, all data is shared to other portions of the platform, including payroll, HR, and time tracking. The Onboarding module notifies the appropriate personnel and takes new hires through all of the necessary tasks and forms that are part of a proper company orientation. New employees can enter their information directly online as they are guided through necessary steps.
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Emails will also automatically generate within iSolved Onboarding to notify each person within the process to complete necessary steps. Like other iSolved components, Onboarding offers an array of flexible configuration options, including: a wizard feature, multiple templates, and approval layers.
Todd La Fever, President of Technology at Infinisource. “With such a high demand for an improved way to track and manage new hires, our new Onboarding module simplifies the process and eliminates the burdensome paperwork.”
–> Todd La Fever, President of Technology at Infinisource. “With such a high demand for an improved way to track and manage new hires, our new Onboarding module simplifies the process and eliminates the burdensome paperwork.”
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“Having Onboarding functionality built within the iSolved HCM platform delivers a seamless solution for human resources departments and hiring managers, and enhances the experience for employees,” said Todd La Fever, President of Technology at Infinisource. “With such a high demand for an improved way to track and manage new hires, our new Onboarding module simplifies the process and eliminates the burdensome paperwork.”
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iSolved Onboarding helps avoid the bottlenecks often associated with bringing on new employees. The system’s workflow automation enables easy implementation, collection, tracking and storage of all forms and documents.
About iSolved
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About iSolved
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About iSolved
www.infinisource.com.
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www.infinisource.com.
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iSolved is Infinisource’s comprehensive human capital management solution for payroll, time, benefits and HR that manages an employer’s most important asset — their people. The cloud-based platform is delivered through elite, regional payroll providers who provide best-in-class service to their clients. This unique approach gives small-to-midsize employers access to a cutting-edge HCM solution, while retaining the local service relationship they prefer. For more information, visit www.infinisource.com.
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