Fitness First has secured approval for its CVA plan

Wednesday, June 20, 2012 3:44 PM

HEALTH clubs group Fitness First was thrown a lifeline today as creditors waved through a last-ditch bid to tackle its burgeoning debt pile.

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The chain, which employs 1,500 staff in the UK, secured backing for a company voluntary arrangement (CVA), which will allow an overhaul of the companys leases to go ahead.

The restructuring will see 67 of the companys 147 gyms in the UK transferred to other operators within the next six months and in the meantime rent on these gyms will be reduced to 55%. Remaining clubs will continue to operate under the Fitness First brand.

Fitness First, which has around dozen gyms in the East of England, at locations including Colchester and Chelmsford, recently secured a deal with most of its lenders to convert debt into equity, but this is dependent on the CVA being agreed in three weeks.

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National: Fitness First secures lifeline as creditors approve CVA plan

CALGARY, ALBERTA--(Marketwire - June 20, 2012) - On Saturday, June 23 World Health is hosting a Summer Fitness Party in the Park with all proceeds benefitting the Alberta Cancer Foundation. The day begins at 9 a.m. at Shouldice Park in Calgary and William Hawrelak Park in Edmonton.

This fun workout is open to everyone and great for any fitness level. Bring the kids to kick off the morning of sunshine and sweat with Zumbatomic (Zumba for kids) followed by Zumba, Bootcamp and Breathe. Tickets can be purchased at any of the 17 World Health locations at front reception, or at the Park on June 23 in exchange for a $20 charitable donation.

Join World Health in celebrating summer fitness and healthy living while supporting cancer research. Visit worldhealth.ca for more information.

Summer Fitness Party in the Park Schedule:

9:30 - 10:00am: ZUMBATOMIC (Zumba for Kids)

10:00 - 11:15am: ZUMBA

10:00 - 11:00am: Bootcamp

11:15 - 11:45am: Breathe

About World Health

World Health has been inspiring Albertans to live a healthy and active lifestyle for 28 years. With 17 locations throughout Calgary and Edmonton, World Health has the most convenient health club facilities offering flexible membership options, dynamic Group Exercise classes and Personal Training. World Health is committed to member success through their Service Guarantee, which ensures every member is assisted step-by-step until they are comfortable following their individualized program independently. For more information, visit worldhealth.ca.

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Join World Health for a Summer Fitness Party in the Park

By Dan Caplinger | More Articles June 20, 2012 |

The following video is part of our "Motley Fool Conversations" series, in which Motley Fool editor Erin Kennedy and Fool contributor and financial planner Dan Caplinger discuss topics from around the investment world.

In today's installment, Erin and Dan discuss how young people can get off to the right start by saving early for retirement. Dan goes through several smart alternatives that workers of all ages can use, including 401(k) retirement plans through your employer, as well as IRAs. He also notes that setting money aside for retirement can also give you tax savings now. Although some of the rules governing retirement accounts can get complex, Dan gives some simple guidance on a number of common scenarios that come up, as well as how to get started. He closes by explaining how even with so many people changing jobs frequently, you can make sure your retirement money follows you and that you put it to best use.

Everyone wants to have a comfortable retirement. To get more advice, check out The Motley Fool's special report, "3 Stocks That Will Help You Retire Rich." Inside, we reveal some stocks that could help you as well as some winning wealth-building strategies. Click here to learn more.

It's not Romney. Or Obama. It's not Democrats, Republicans, or the Tea Party. In fact, it's not politicians at all. It's individual investors like you.

Since 1952, the S&P 500 has posted a gain in the last seven months of an election year 85.7% of the time. But if you want to set yourself up for maximum profits and minimum risk after the election, you need to have the proper investment strategy in place well before November.

That's why we've asked our top advisors and equity analysts to weigh in on which investments will win if Romney does... which will win if Obama does... and what you can do to help boost your wealth no matter who wins in November.

It's all part of our brand-new investor empowerment series, "Invest Like a Pro: Savvy Strategies for the Next 4 Years and Beyond" which we're making available to individual investors like you absolutely free for a limited time.

To get access to this exclusive bundle of informative videos, advisor roundtables, special reports, articles, and more, simply enter your email address below, click the "Sign me up!" button, and then check your inbox for further details.

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Retirement Options for Younger Investors

SAN FRANCISCO--(BUSINESS WIRE)--

Schwab Retirement Plan Services has been named the top 401(k) provider in the categories of loyalty and overall satisfaction in a survey by Boston Research Group, affirming its standing as a leading provider of 401(k) plan services.

Loyalty Rankings

Schwab, which serves plans with 1.5 million corporate retirement plan participants, received its number one ranking in loyalty by both employers sponsoring 401(k) plans and their employees. Among employers, Schwab scored 86 percent compared to the industry average of 75 percent. Employers measured loyalty against three key drivers: easy to do business with, resources to offer the best plan and partners effectively.

The loyalty gap between Schwab and its competitors was even wider among plan participants. Two-thirds (66%) of respondents said they would leave their money in the current plan with Schwab or rollover to a Charles Schwab & Co., Inc. IRA if they left the plan today, compared to an industry average of just 51 percent.

High Satisfaction Marks from Plan Participants

In the area of overall satisfaction, Schwab was given the highest mark of any provider by plan participants 46 percent, ten points above the industry norm. Schwabs score rose four percent in 2011 over its industry-leading mark in 2010. The factors that drove overall satisfaction with employees in plans serviced by Schwab include its investment experience and the participants experience when they engage with Schwab.

Schwab is committed to building strong relationships with employers who choose us to service their 401(k) plan, and to delivering an excellent experience to their employees, said Steve Anderson, head of retirement plan services at Schwab. The Boston Research Group study findings are an affirmation that our efforts are being recognized among the people whose opinions we value mostour clients.

Charles Schwab continues to be a leader in the retirement plan industry in the view of both employers and their employees, said Warren Cormier, president of Boston Research Group. We commend Schwab for engendering a very high level of loyalty and satisfaction among both groups.

About Charles Schwab

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Schwab Retirement Plan Services Earns Top Marks for Client Loyalty and Satisfaction in Independent Survey

NEW YORK, June 20, 2012 /PRNewswire/ --J.P. Morgan Asset Management today launched Retirement Link, a comprehensive retirement offering with alliance partner FASCore, LLC to provide recordkeeping solutions to the small-to mid-sized retirement plan market.

Retirement Link combines the best of J.P. Morgan's innovative plan design, outcome-driven investment solutions, superior client service and leading retirement thought leadership with cost-effective operations and servicing. The offering will leverage FASCore's extensive experience to deliver bundled recordkeeping solutions for small-to mid-sized retirement plans with assets up to $40 million. J.P. Morgan will migrate a portion of its existing small-to mid-sized business to Retirement Link over the coming months. J.P. Morgan Retirement Plan Services also continues to serve its core to- mega clients through its industry-leading proprietary platform.

"The small-to mid-sized plan market is central to the continued growth of our retirement business. Our partnership with FASCore in launching Retirement Link was the result of a thorough evaluation and due diligence process to ensure that we can offer our clients outstanding service and competitive value," said Julia Bates, Managing Director, J.P. Morgan Small-to Mid- Market Retirement Plan business. "FASCore's long-term commitment to the retirement plan market, their industry leadership, high quality employees and processes, and our experience with the company, were primary factors that influenced our selection and the development of Retirement Link."

Charlie Nelson, president of FASCore, said, "We're excited to expand our partnership with J.P. Morgan Asset Management. Their broad distribution, asset management and retirement solution expertise make them an attractive partner. We also applaud their focus on plan sponsor solutions and participant retirement readiness. Both of these initiatives are consistent with our priorities as well."

About J.P. Morgan Asset Management RetirementJ.P. Morgan Asset Management is a leading comprehensive retirement solutions provider dedicated to improving individual retirement outcomes. J.P. Morgan Retirement Plan Services provides bundled defined contribution services available to plans of all sizes, including more than 650 clients and 1.8 million plan-level participants representing more than $125 billion in retirement plan assets as of March 31, 2012. J.P. Morgan Defined Contribution Investment Solutions manages more than $61 billion in defined contribution assets as of March 31, 2012.

About J.P. Morgan Asset ManagementJ.P. Morgan Asset Management, with assets under supervision of approximately $2.0 trillion and assets under management of $1.4 trillion (as of March 31, 2012), is a global leader in investment management. J.P. Morgan Asset Management's clients include institutions, retail investors and high-net worth individuals in every major market throughout the world. J.P. Morgan Asset Management offers global investment management in equities, fixed income, real estate, hedge funds, private equity and liquidity. JPMorgan Chase & Co. (JPM), the parent company of J.P. Morgan Asset Management, is a leading global asset management firm with assets of approximately $2.1 trillion and operations in more than 60 countries. Information about JPMorgan Chase & Co. is available at http://www.jpmorganchase.com.

About FASCore, LLC FASCore, a wholly owned subsidiary of Great-West Life & Annuity Insurance Company, is a leading provider of recordkeeping and administrative services for the defined contribution and deferred compensation market. For more than 40 years, FASCore has provided retirement plan recordkeeping services for 401(k), 403(b), 457 and non-qualified plans of all sizes. It has grown recently by partnering with banks, insurance companies, brokerage firms, money management companies, and other financial institutions to offer private-label recordkeeping services to their plan clients. At March 31, 2012, FASCore record kept 4.5 million participant accounts(1).

About Great-West Life & Annuity Insurance CompanyGreat-West Life & Annuity Insurance Company, headquartered in metro Denver, serves its customers through a range of group retirement savings products and services, individual retirement accounts, life insurance and annuities, and business-owned life insurance. It is an indirect, wholly owned subsidiary of Great-West Lifeco Inc. and "A Member of the Power Financial Corporation Group of Companies" .

"A Member of the Power Financial Corporation Group of Companies" is the registered mark of Power Corporation of Canada. Great-West Retirement Services and the Partnership logo are the registered trademarks of Great-West Life & Annuity Insurance Company.

(1) Recordkeeping numbers reflect all FASCore customers: those of institutional clients, third-party administrator clients and Great-West Retirement Services.

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J.P. Morgan Asset Management Announces Launch of Retirement Link(SM) to serve Small-to Mid-Market Retirement Plans

Iomega's StorCenter ix2-dl ($199.99 (diskless) MSRP) is the company's latest NAS offering for power users and small business. The ix2 is unique in that it combines the easy-to-use consumer features of Iomega's Home Media Network Hard Drive with capabilities of Iomega's weightier StorCenter business-class NASes. For example, the ix2 offers sharing content over the Internet with a personal cloud, and unlike the Home Media device, is not an enclosed NAS. The ix2 supports up to 2x SATA I or II HDDs.

The result is a NAS that is superior than the Home Media Network Hard Drive. It's got business-class capabilities, awesome video-surveillance support, and very good Read/Write speeds. However, some issues I had when setting up a personal cloud for the Home Media Network Hard Drive still linger in the ix2.

Specs The ix2 includes a Marvell 6282 processor, 256 DDR II DRAM, one Gigabit Ethernet port, and a USB 2.0 port for connecting a printer or external USB drive.

Two bays support either single or dual drive configurations. The ix2 supports up to 6TB capacity and RAID 1 mirroring with dual drives. Adding or removing SATA drives is a tool-less and effortless task. There's a removable front panel to access the drive bays. The drive trays are thin, plastic frames that snap to the drives and can serves as a handle for removing drives. The plastic frames are far easier to work with than traditional metal drive trays.

Setup Once the drives and installed and the system is powered up, the device is setup via a web portal at http://www.myiomega.com. The ix2's setup process reflects an emerging trend among networking hardware vendors; that is, bucking a setup CD in favor of online setup.

When I browsed to the Web portal once my ix2 was connected online, I saw the message Your ix2 is online and ready to use. From here, users can backup data and consolidate existing files, create a personal Iomega cloud (more on that later), or can manage the ix2.

Most users are going to want to first set up the device, so I opted to manage the ix2. Upon initial visit, the site offers walking you through basic set up options such as configuring the time and date, establishing email notifications, and setting up a personal cloud.

Six folder shares are created automatically: Backup, Documents, Movies, Music, Pictures, and Shared Media. These folders also had automatic mapping created in my Windows Explorer.

The setup process using the online portal is fine, as long as you have a good, working Internet Connection. I prefer to download Iomega's StorCenter manager, which previously was shipped on disk, to ensure that my NAS is online and receiving proper network information. You can still download StorCenter Manager to use with the ix2, though. The setup process is not as cut-and-dried with the personal cloud setup, unfortunately.

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Iomega StorCenter ix2-dl

To: RNS

From: Personal Assets Trust plc

Date: 20 June 2012

Results for the year ended 30 April 2012

The Directors of Personal Assets Trust ("PAT") are pleased to announce the Group's results for the year ended 30 April 2012.

The key points are as follows:

PAT is run expressly for private investors. Its (Euronext: ALITS.NX - news) investment policy is to protect and increase (in that order) the value of shareholders' funds per share over the long term and to earn as high a total return as is compatible with a risk equivalent to that of the FTSE All-Share Index.

Over the year to 30 April 2012 PAT's net asset value per share ("NAV") rose by 6.6%. This compares to a fall of 5.4% in the Company's comparator, the FTSE All-Share Index. PAT's share price rose by 22.70 during the year and at 30 April 2012 was 340.70. An analysis of performance is provided in the Chairman's Statement and Investment Adviser's Report below.

Since PAT became independently managed in 1990 the Board has chosen to measure PAT's performance over rolling three year periods. Over the three years to 30 April 2012 the net asset value total return per share was 54.2% compared to the FTSE All-Share Index's 52.2%, an outperformance of 1.3%.

The Company has experienced a strong demand for its shares. During the year the Company issued 395,856 Ordinary shares, raising 132.0 million of net new capital.

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Personal Assets Tst. - Final Results

By Steve Van Tiem - June 20, 2012 | Tickers: CMG, JACK, PNRA | 0 Comments

Steve is a member of The Motley Fool Blog Network -- entries represent the personal opinions of our bloggers and are not formally edited.

When considering a potential new investment like Chipotle Mexican Grill, Inc. (NYSE: CMG), I first conduct due diligence on the capability and integrity of the management team, even before digging into the financials to examine revenue growth, profit margins, cash flow, and debt levels. Because it implements strategy and allocates the companys capital, evaluating the management team is crucial to estimating a company's prospective long-term results. The presence of a capable and shareholder-friendly management team gives investors confidence that past operating success will continue into the future and lead to continued shareholder gains. To evaluate management, I look at how closely their interests are aligned with the shareholders' interests, the returns on investment that they have produced, and the total compensation they have taken for their efforts.

The first measure that I assess is how closely the senior managers interests are aligned with mine as a shareholder. The key insiders of Chipotle, which as a group includes five executives and five independent directors, hold 1.7% of outstanding shares. This percentage of ownership is better than two of Chipotles fast casual restaurant competitors, Jack in the Box, Inc. (NASDAQ: JACK) and Panera Bread Company, Inc. (NASDAQ: PNRA) at 1.4% and 0.8%, respectively. The holdings of the key insiders of Chipotle are down over the past 12 months so this factor rates as neutral to good for Chipotle.

A second measure of management is their ability to produce returns on invested capital. Chipotle scores very well as return on invested capital (ROIC) has steadily improved to more than 23% in 2011 from 13% in 2008 and 2.7% in 2004. The average ROIC has been 14.8% since 2004. It is also very bullish that the company has achieved this without long-term debt, so return on equity has matched ROIC. By contrast, Jack in the Box and Panera have generated average ROIC of 10.9% and 16.7%, respectively, since 2004. In 2011, ROIC was 9.2% for Jack in the Box and 21.7% for Panera. Chipotles upward trend and most recent annual ROIC distinguish it among its peers.

My last test of management is the total compensation the companys managers have taken in comparison to revenue growth, returns to shareholders, and compensation taken by similar competitors. Chipotles compensation of key executives increased by an average annual compound rate of more than 36% from 2007 through 2011. Given that the share price rose by 43% compounded annually over the same time, this growth in compensation is reasonable. Note that there are no dividends, thus the return to shareholders is solely from share price appreciation.

The companys compensation appears less beneficial for investors, however, when considering revenue growth. Chipotles compensation has increased to 2.2% of revenue in 2011 from 1.3% in 2007, while Jack in the Box's compensation was 0.5% of revenue in 2011 and 0.2% in 2007 and Panera's compensation was 0.6% of revenue in 2011, up from about 0.2% in 2007. While lower management compensation as a percentage of revenue at Panera and Jack in the Box would seem to be better for investors, these lower payout rates are appropriate for their managements because their share prices have lagged Chipotle. Jack in the Box saw its shares decline by more than 7% compounded annually between 2007 and 2011 while Panera's shares rose by more than 20% compounded annually during that time, compared to 43% annually for Chipotle.

Overall, it appears that Chipotle's management has its interests in line with the shareholders. They generally satisfy my standards for integrity and capability, thus the company is a good investment candidate that merits further due diligence regarding the attractiveness of its financial position and operating results. Despite a big increase in share price to a recent $417 per share, which is near an all-time high, the quality of the companys management leads me to believe that Chipotle may be well positioned to continue rewarding shareholders through rising intrinsic value. In a future posting, I will examine the companys operating metrics including revenue and cash flow growth, profitability, debt levels, and working capital efficiency to assess the prospects for continued share price appreciation.

Steve Van Tiem is a member of The Motley Fool Blog Network

22 Published Posts

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Superior Management a Key Ingredient to Chipotle's Success

Business Travel Success is the go-to guide for everything travel-related, from flying, driving, and train and bus riding. Margolis shares vital tips on how to find the cheapest hotel rate, how to make sure you're dressed appropriately for any business occasion, and how to stretch your travel budget. Margolis also offers packing tips, like the bundle or hobo method, and why you should pack baking soda instead of both toothpaste and deodorant! Business Travel Success offers some surprising hints on how to escape the unwanted and sometimes smelly presence of airplane seatmates and also includes entire chapters addressing traveler needs regarding safety, health and fitness, personal matters, social media, and much more. After reading Business Travel Success, new and old road warriors will discover that traveling can be a pleasurable experience instead of torture. Also, thanks to the relationship tips in Business Travel Success, traveling home will be the best journey of all!

About the Author: As the CEO of an international consulting firm, Carol Margolis has spent 25 years traveling nationally and internationally across six continents for business. She is a seasoned road warrior and wrote 70 Secrets to Safe Travel. Margolis also founded SmartWomenTravelers.com which is dedicated to helping women who travel. Margolis also created the program Business Travel Success, which helps both first-time travelers and other seasoned road warriors improve their business travel experiences. Margolis has experienced great success and appears on Reuters.com and USAToday.com, as well as being welcomed as a frequent radio and television guest on Good Morning America and Fox News. She is also often quoted in USA Today, the LA Times, the New York Times, and the Wall Street Journal.

More About This Title: Business Travel Success...How to Reduce Stress, Be More Productive and Travel With Confidence! available on Amazon.

Business Travel Success: How to Reduce Stress, Be More Productive and Travel with Confidence by Carol Margolis was released by Morgan James Publishing on May 1, 2012. Business Travel Success: How to Reduce Stress, Be More Productive and Travel with Confidence, ISBN 9781614481296, has 252 pages and is being sold as a trade paperback for $21.95.

If you would like more information about this topic, or to schedule an interview with Carol Margolis, please call Vivian Deuschl of Deuschl Hospitality Public Relations at 703-941-6225 or email Vivian at vdeuschl@gmail.com.

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Business Travel Success - 100's of Travel Tips!

Boston The seven Bain Capital founders believed they were so destined to make millions that the young men posed for a photo on the grand marble staircase of Bostons Copley Place with $10 and $20 bills popping out of their shirt collars, tucked behind their eyeglasses and clutched in their teeth.

Their confidence was warranted. One went on to run an airline, another to buy a basketball team, and another to oversee two health-care companies and build custom roadsters.

Their leader, Mitt Romney, went on to become governor of Massachusetts and this years likely Republican presidential nominee.

At the 1984 photo shoot, Romney and his partners were celebrating not only their new company but also the ethos of their era. They had just given up their jobs as consultants at Bain & Co. to start Bain Capital with one overarching goal: to create wealth. They were, to use a favorite Romneyism, dreamers.

Nearly three decades later, the black-and-white snapshot captures a moment when Romney was about to become wildly successful in business, giving him the resources and a critical credential for entering national politics.

Yet the photo also embodies one of Romneys challenges as a candidate: his wealth.

President Obama has seized upon his challengers position at the apex of American capitalism to portray him as elite and out of touch.

Were the poster children for class warfare now, said Geoffrey S. Rehnert, one of the seven partners in the photograph. Thats something I never anticipated. Rehnert and other partners said they are unhappy about the politicization of the image. One of Romneys mentors called the shot tacky and inappropriate.

The cocky assurance that Romney and his buddies displayed in the photo belied their youth and inexperience. Romney, then 36, was a success by any measure. He had risen through the Bain ranks quickly, and he was earning a good living and raising five sons.

Running Bain Capital was the biggest challenge yet in his career, and he approached it cautiously and gradually, with the same careful evaluation and reliance on analytics that would characterize his political campaigns and term as governor.

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1984 Bain Capital money photo captured Romney on eve of major success