GUD Holdings homes in on AMA Group’s parts

Fellow small-cap GUD Holdings is looking to beef up its automotive aftermarket parts business to make the most of a COVID-19 inspired second-hand care spree.

The easiest way to do that is via a bolt-on acquisition and GUD has made it abundantly clear to shareholders it is scouting for opportunities.

GUD has Macquarie Capital on board for help with a deal – as Street Talk revealed on Tuesday night – and had what it called “strong balance sheet metrics” at June 30. Net debt was worth 1.7-times earnings, while gearing (on a net debt/net debt + EBITDA) basis was 34.1 per cent.

So perhaps we shouldn’t be surprised to hear GUD is in late-stage talks to acquire AMA Group’s APAS. It is understood GUD has all but seen off some competing interest, including from buyout firm Pacific Equity Partners which owns trailer parts and bull bars company AutoPacific Group (what

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Under Armour partners with support groups for special military and essential worker appreciation sale for Veterans Day

Wednesday marks a day where many around the country honor the lives and sacrifices that veterans and military members have made.

Under Armour has some big discounts for military and essential workers from Nov. 5 to Nov. 16. The brand will offer 40 percent off of items across the site and in all of its Under Armour Brand House stores. With proof of ID, the brand will offer a discount to:

  • Active Duty Service Members & Veterans
  • First Responders
  • Healthcare Workers
  • Teachers

The site promises $30 off on orders $100 or more, as well as free shipping on sales $60 or more. Here are some of the items that shoppers can expect to find if they check out the Under Armour outlet sale this weekend.

It had also partnered with several nonprofits that are geared toward veterans and military service members, like Flags of Valor, Team Rubicon, the Travis Manion

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CBRE Group’s real estate SPAC CBRE Acquisition Holdings files for a $400 million IPO

CBRE Acquisition Holdings, a blank check company formed by commercial real estate giant CBRE targeting growth companies, filed on Monday with the SEC to raise up to $400 million in an initial public offering.

The Dallas, TX-based company plans to raise $400 million by offering 40 million SAIL (Stakeholder Aligned Initial Listing) securities at $10. Each SAIL security consists of one share of common stock and one-fifth of a warrant, exercisable at $11. At the proposed deal size, CBRE Acquisition Holdings would command a market value of $420 million. Sponsor CBRE Group will receive a promote of only 5%, with additional “alignment shares” rewarded for outsized post-merger returns over a series of years.

The company is led by Chairman Robert Sulentic, who currently serves as CEO of CBRE and previously served as CEO of Trammell Crow; CEO William Concannon, who currently serves as Global Group President of

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Prestigious Real Estate and Hospitality Firm Joins Raines Feldman LLP to Expand its Practice Groups

LOS ANGELES, Nov. 2, 2020 /PRNewswire/ — Renowned real estate and hospitality law firm Rosenfeld Wolff & Klein has joined Raines Feldman LLP to expand its growing Real Estate and Hospitality practice groups. Known for its high-profile clients, Rosenfeld Wolff & Klein has practiced over 30 years in Los Angeles and has been at the forefront of innovative legal services in the real estate, restaurant and hospitality industries.

“We are very excited to welcome Rosenfeld Wolff & Klein to the Raines Feldman team” says Jonathan Littrell, Raines Feldman’s Managing Partner. “The quality of their work and reputation in the market aligns perfectly with our dedication to providing innovative, high-caliber work to our valued clients.”

“This will enable Raines Feldman to provide a new and broader range of services in the areas of hospitality, restaurants and high-end residential construction in addition to our core purchase and sale, leasing, financing,

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Fair housing groups: Redfin ‘redlines’ minority communities

GENE JOHNSON
 |  Associated Press

SEATTLE — Several fair housing organizations accused Redfin of systematic racial discrimination in a lawsuit Thursday, saying the online real estate broker offers fewer services to homebuyers and sellers in minority communities — a type of digital redlining that has depressed home values and exacerbated historic injustice in the housing market.

In a complaint filed in U.S. District Court in Seattle, the organizations said that during a two-year investigation they documented the effect of Redfin’s “minimum price policy,” which requires homes to be listed for certain prices to reap the benefits of Redfin’s services.

The company was vastly less likely to offer realtor services, professional photos, virtual tours, online promotion or commission rebates for homes listed in overwhelmingly minority neighborhoods than it was in overwhelmingly white ones, the investigation found.

That meant homes in minority neighborhoods were likely to stay on the market longer and

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HUD investigating city after civil rights complaint filed by environmental groups

Federal officials are investigating the city after Southeast Side residents complained their civil rights were violated by a long pattern of environmental racism.

A Department of Housing and Urban Development official confirmed in an email last week to local community groups that the department “opened a complaint” to look into allegations that residents’ rights were violated under federal fair housing laws. A HUD spokeswoman acknowledged the email but declined to comment.

The groups cited zoning and land-use policies, highlighting the city’s current role in relocating General Iron’s metal-shredding operation from the mostly white, affluent Lincoln Park to the Latino-majority East Side neighborhood. The facility still needs one additional permit from the city to operate on the Southeast Side.

“Racist policies are killing our neighborhood by making it a dumping ground for the dirtiest and most dangerous polluters,” said Peggy Salazar, director of the Southeast Environmental Task Force, one of three

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