Finance & Business World

Wachovia Corp. stopped accepting applications for private, undergraduate student loans at the close of business Wednesday.

The Charlotte, N.C.-based bank (NYSE: WB) will continue to offer student loans for both graduate and professional education as well as student loans backed by the federal government.

“We are constantly evaluating our organization in the current environment, to ensure that we’re doing what’s best for our customers, our shareholders and our company, and at this time we thought it was prudent to stop accepting private undergraduate student loans,” Wachovia spokeswoman Ferris Morrison said no fax payday loan.

Wachovia has about $9.9 billion in student loans on its books, Morrison confirmed.

In April, rival Bank of America Corp. (NYSE: BAC) said it would discontinue selling private student loans. At the time, a BofA spokesperson said the bank wanted to focus on government-backed loans to provide a more consistent experience for customers.

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Colliers International’s Investment Services Group said Monday it is offering for sale a Milpitas research and development building currently occupied by Seagate Technology.

The 77,200 square-foot facility, which includes 66,000 square feet of clean room, is located at 195 S. Milpitas Blvd. The seller is a local family trust.

Seagate recently announced its plans to relocate to an off-shore facility. The company said it will cease production at the Milpitas plant on Oct. 3. However, it is obligated to pay rent on the facility through April 2011.

“I think (the property) is perfectly positioned for a value-oriented investor to realize a tremendous amount of value that is ‘locked up’ in the real estate,” said Andy Zighelboim, senior vice president of Colliers in San Jose payday loans lenders. “The offering will provide the opportunity to re-lease a high-quality, state-of-the-art clean room at a significantly higher lease rate within a relatively short amount of time. The clean room alone would cost between $2,500 and $3,000 per square foot to replicate.”

The disposition assignment is being handled by Zighelboim, Michael Rosendin and Craig Fordyce of Colliers.

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The Clorox Co. on Friday reported a 3.7 percent drop in fourth-quarter net income due partially to restructuring costs, but per-share earnings were up for the quarter.

Oakland-based Clorox (NYSE: CLX) posted fourth-quarter net income of $158 million, or $1.13 per diluted share, compared with net income of $164 million, or $1.07 per diluted share, in the same quarter a year ago.

Clorox said net earnings for the quarter, which ended June 30, were reduced by $10 million, or 4 cents per share, in pretax charges associated with restructuring, and $3 million, or 1 cent per diluted share, in charges related to its acquisition of Burt’s Bees.

Clorox reported $1.5 billion in net sales for the quarter, up 11 percent from $1.34 billion in the year-ago quarter.

The fourth-quarter results came in above Wall Street estimates. Analysts polled by Thomson Financial had expected, on average, earnings of $1.11 per share on $1.48 billion in revenue http://abc-cashadvance.com.

Clorox reported fiscal 2008 revenue of $5.27 billion, up from $4.85 billion in fiscal 2007. The company had full-year net earnings of $461 million, or $3.24 per diluted share, compared with $501 million, or $3.26 per diluted share, in fiscal 2007.

Clorox on Friday also lowered its guidance for fiscal 2009 due to rising commodity and energy cost. The company now expects fiscal 2009 earnings per diluted share to be in the range of $3.60 and $3.75. In May, Clorox forecast 2009 earnings per share in the range of $3.75 and $3.90.

Clorox makes products including its eponymous bleach, Hidden Valley salad dressings and Glad trash bags. The company has 8,300 employees worldwide.

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Harsch Investment Properties is implementing a nonsmoking policy at Pacific Office Center.

Effective Monday, all areas of the building and its perimeter — including entryways, garages, outside lobbies and the loading dock — will be designated nonsmoking. Those who wish to smoke must be at least 25 feet from these areas. Signs will be posted around the building to identify the property as nonsmoking.

Harsh said the policy “is intended to improve the overall health and work environment for all tenants and their guests.”

“We understand this will be an inconvenience for some, but are steadfast in our belief that this will be a positive change,” Harsch’s senior property manager Lisa Ezell-Rummel said in a memo to the buildings tenants easy payday loan. “Several downtown office buildings, including our neighbors at Fox Tower, have implemented similar nonsmoking policies and found strong support from a majority of their tenants.”

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