Michael Hansen

Cengage CEO Seeking Restructuring, May File Bankrupy

Cengage Learning Inc., the educational publisher owned by Apax Partners LLP, said it’s seeking to negotiate with creditors on a restructuring plan and may need to file bankruptcy as part of its turnaround efforts.

Apax’s Cengage Said Poised to Pick Alvarez for Restructuring

Cengage Learning Inc., the textbook publisher owned by Apax Partners LLP, is poised to hire Alvarez & Marsal Inc. to advise on restructuring options as deadlines approach to repay or refinance maturing debt, said people with knowledge of the matter.

Cengage Hires Restructuring Advisers as It Draws Down Credit

Cengage Learning Inc., the textbook publisher owned by Apax Partners LLP, said it has drawn down $430 million from its revolving credit lines and is getting restructuring advice from Alvarez & Marsal.

Cengage Hires Pearson’s Education Sales Chief Stone

Cengage Learning Inc., the educational textbook company owned by Apax Partners LLP, named Kevin Stone as its chief sales and marketing officer, hiring away an executive from rival Pearson Plc.

Mad-Cow Case Confirmed in Central California, USDA Says

The first U.S. case of mad cow disease in six years has been found in a dairy cow in central California, detected before it could enter the human food chain and pose any threat to consumers, officials said.

Enron-Era Ruling Signals $1.6 Billion California Refunds

California energy regulators said that a preliminary ruling by a U.S. agency may bring as much as $1.6 billion in refunds for consumers harmed during the state’s electricity crisis more than a decade ago.

USDA Says Mad Cow Test Drop Is No Meat-Supply Threat

The number of cattle tested for mad cow disease has fallen almost 90 percent since 2005, according to U.S. Agriculture Department statistics, a drop that consumer groups say endangers America’s food supply.

Uniform-Rental Stocks Rise as Play on Rally in U.S. Jobs Market

Companies are renting more uniforms as hiring in industries such as manufacturing and food service outpaces the U.S. economy’s best six-month streak of job growth since 2006.

Beef Producers Dispute ‘Meat Glue’ Safety Allegations

Beef producers said the depiction of meat glue by consumer activists is unfair and the industry’s practice of using transglutaminase to bind pieces of meat into a single cut is safe.

U.S. Mad Cow Finding Shows Controls Working, FAO and OIE Say

The U.S. finding of a case of mad cow disease shows the country’s surveillance system is working, according to the United Nations’ Food & Agriculture Organization and the World Organisation for Animal Health.

"We will seek to negotiate the terms of a comprehensive restructuring transaction with our key creditor constituents and quickly implement the restructuring plan."

- Michael Hansen on May 10, 2013

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