Alert Staffing starts over after bankruptcy filing. (Up Front).After resolving a dispute with global staffing powerhouse A fourth-generation language from Cognos that was introduced in the late 1970s for midrange computers. It supports both character-oriented, terminal-based applications as well as Windows clients. Applications developed under PowerHouse can be imported into Cognos' Axiant client/server environment. Adecco SA that threatened its survival, personnel agency Alert Staffing has emerged from bankruptcy. The Culver City Culver City, city (1990 pop. 38,793), Los Angeles co., S Calif., a residential suburb of Los Angeles; inc. 1917. It is a center of the U.S. motion-picture industry, whose roots in the city date to c.1915. Its chief manufactures are rubber products and computers. firm came out from Chapter 11 protection on Feb. 6 after Chief Executive Victoria Lowe and her partner Roy Gardner Roy Gardner may refer to:
prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Alert attorney Angela Sousa. "We are out from under the battle," said Lowe, a prominent local African American African American Multiculture A person having origins in any of the black racial groups of Africa. See Race. executive. Alert, launched in 1995 with the financial backing of Switzerland-based Adecco, now expects to collect up to $3 million in disputed receivables from its clients so it can pay off creditors at about 15 cents on the dollar. The company entered bankruptcy last June, owing creditors $20.6 million, according to documents filed in U.S. Bankruptcy Court bankruptcy court n. the specialized Federal court in which bankruptcy matters under the Federal Bankruptcy Act are conducted. There are several bankruptcy courts in each state, and each one's territory covers several counties. . Representatives from Adecco did not return repeated calls for comment. Lowe formed Alert eight years ago as part of Adecco's efforts to fill diversity requirements under contracts it had with clients that require business go to minority-owned finns. Adecco invested an undisclosed sum for a 49 percent stake in the agency and handled the financial operations while Lowe ran day-today business, Lowe said. The firm grew rapidly in the late 1990s with a roster of large telecommunications Communicating information, including data, text, pictures, voice and video over long distance. See communications. clients, including Fortune 500 companies like AT&T Corp. It reported revenues of $204 million in 2000, making it No. 1 on the Business Journal's 2001 list of largest womenowned businesses in Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. County. But Alert and Adecco's relationship turned sour m 2000 following Alert's decision to also take control of the agency's back-office operations. Lowe claimed Adecco, which has a large-scale staffing business that runs independently of Alert, began to see her as a competitor and demanded $11 million it put into the agency's operations. Lowe said she believed the money was an infusion of equity but Adecco claimed the money was a loan. Revenues fell to $90 million in 2001 and Alert filed for Chapter 11 bankruptcy protection. It came close to liquidating after being unable to reach an agreement with Adecco and other creditors. An accord was finally reached earlier this month under a deadline imposed by a U.S. Bankruptcy Court judge, Sousa said. |
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