ECRM announces construction of Charlie Bowlus Technology and Innovation Center
SOLON, Ohio — ECRM announced that a state-of-the-art center will be built in honor of its late leader Charlie Bowlus.
The Charlie Bowlus Technology and Innovation Center, which currently is under construction, is being built in a public charter school in Cleveland and is set to open this fall in the Cleveland Public School District, ECRM president Mitch Bowlus said, who will fund 100% of the costs for this center.
Charlie Bowlus, who passed away last August at the age of 64, had a great passion for technology and innovation, but his passion was that much greater for helping others, Mitch Bowlus said. "This donation on behalf of my father will enable these kids, year after year, to have access to technology that would otherwise be unavailable to them," he said. "Undoubtedly, some of these kids will discover skills and develop a passion for technology and innovation that will forever change their lives in a positive way, a result I am convinced would make my dad most proud."
Visitors to the center will find a photograph of Charlie Bowlus, as well as a biography of his life on display as they enter the facility. The center also will be open after hours and weekends to allow parents, as well as others in the community, to utilize the resources to ultimately better their own lives, ECRM said.
"I feel that I have partnered with the ideal charter organization and school for the first center named after my father," Bowlus said. "An aspect of this particular school that really appealed to me was the emphasis on entrepreneurship — all kids must take classes in this area which is unique from all of the opportunities I considered."
For more information on how you can help, contact Mitch Bowlus at [email protected].
So Awesome Mitch! Your Father is so proud of you! DeeDee
Coty proposes to acquire Avon
NEW YORK — Coty announced on Monday that it has submitted a nonbinding proposal to acquire Avon in a deal valued at about $10 billion; however, Avon has rejected the unsolicited bid.
Coty has submitted a nonbinding proposal to acquire Avon for $23.25 per share in cash. The proposal, valued at approximately $10 billion, represents a substantial premium of 27% over the three-month, volume-weighted average price for Avon shares, Coty stated.
Coty stated that it has no intention of pursuing a hostile takeover but is making its proposal public in order to inform Avon’s shareholders of what it believes is “significant value” in a transaction.
“Our objective is to engage in discussions with Avon and conduct due diligence so that we and Avon can together determine if there is a basis for a transaction. We believe Avon’s shareholders would want their board to explore with us the benefits to shareholders of a transaction," stated Bart Becht, chairman of the board of directors of Coty.
Coty stated the combination would create a “new strong” company in beauty to be called "Avon-Coty." The combined company would benefit from complementary category strengths, Coty stated. Coty has a solid foothold in fragrances and nail products, while Avon has more core strength in color and skin and body products. Coty’s approach to innovation, branding and execution would be used and targeted to deliver innovative products across all beauty categories for "Avon-Coty,” Coty stated.
Furthermore, Avon has a strong presence in emerging markets, with more than 68% of its revenues coming from these markets. Many of the beauty categories in these markets are dominated by "door to door" distribution. Coty stated that, while many of Coty’s brands already have good levels of awareness in many of these markets, they are not widely available for sale at this point in time because of lack of Coty infrastructure. Distribution of Coty mass beauty brands via Avon’s "door to door" distribution channel would, therefore, create new and attractive growth and earnings opportunities for "Avon-Coty" and its 6.4 million account representatives.
Avon, however, stated in response that, “Coty’s indication of interest, which offers Avon shareholders a 20% premium over the company’s closing share price on March 30, 2012, does not reflect the fundamental value of Avon and its global beauty care franchise. Indeed, the indication of interest represents a multiple of only 1.1 times Avon’s net revenue for the fiscal year ended Dec. 31, 2011, and 8.7 times 2011 EBITDA. This is significantly below multiples that the board of directors believes an iconic consumer company is worth in a change of control transaction.”
Avon also stressed that it is committed to hiring a new CEO and that with a new CEO there is a “greater opportunity to improve shareholder value in excess of Coty’s conditional indication of interest.”
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Abbe Labs offering End-Zit skin care regimen for acne control
FARMINGDALE, N.Y. — Abbe Labs has announced that it now is offering the End-Zit acne treatment system, which is comprised of five products that target problem skin and prevent future breakouts.
The line includes a cleanser, toner, moisturizer, mask and acne drying lotion.
The End-Zit blemish control cleanser is a non-oily cleansing wash to remove excess oils, grime, and impurities from the skin. It promises to remoisturize skin with pure glycerin and absorbs excess oil with titanium dioxide. Citric acid helps maintain natural skin pH, while glycereth-7-coconate refats the skin for a healthy complexion. It contains salicylic acid and a beta-hydroxy acid exfolliant to help purify and detoxify the skin.
End-Zit blemish control toner contains plant extracts and alpha-hydroxy acids to gently exfoliate, soothe and rejuvenate skin. Witch hazel (hamamelis) has been used for centuries as a mild astringent and skin conditioner. Kola nut extract is a natural anti-inflammatory and anti-irritant. Chamomile extract is known as a calming, soothing herb. A complex of alpha-hydroxy acids (glycolic, lactic, malic, and tartaric) complete the activity of the toner. Salicylic acid, a gentle beta-hydroxy acid, aids the exfoliation process, while purifying and detoxifying the skin.
End-Zit blemish control moisturizer is an all-natural, paraben-free, noncomadogenic oil-free moisturizer. It is composed of an alpha/beta hydroxy acid complex, (glycolic, lactic, mlic, tartaric, and citric acids), botanicals and red marine algae, which is a vitamin and mineral rich seaweed. It also contains the antioxidants vitamin C and Japanese green tea extract.
End-Zit acne control mask is a sulfur-based mask specially designed for oily, problem skin and clogged pores on the face and body. In addition to reducing the appearance of acne on the face, End-Zit acne control mask is an ideal treatment for problem areas on the back, chest and shoulders. This mask also can be used as a nighttime spot treatment on the face. It contains red marine algae, a type of seaweed found only off the coast of Maui.
End-Zit acne control drying lotion (light/medium tint, medium/dark tint, sun bronze tint and untinted) is intended for use on blemishes only. This formulation is designed to dry and aid in the elimination of pimples and may be used under makeup or alone.
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