|By PR Newswire||
|August 18, 2014 12:17 PM EDT||
GROSSE POINTE FARMS, Mich., Aug. 18, 2014 /PRNewswire/ -- Meredith A. Shanle, President of Municipal Financial Consultants Incorporated, announced today that Louis H. Schimmel, who served as Vice Chairman of MFCI from 2004 to 2010, returned to the company on August 1st to serve in a similar capacity.
Mr. Schimmel had resigned from MFCI in March 2010, to serve as Executive Administrator for the City of Warren and then on September 12, 2011, was appointed Emergency Manager of the City of Pontiac by Governor Rick Snyder.
In the nearly two years he was the Emergency Manager of the City of Pontiac he completely restructured the City by contracting out nearly all of the basic services the City provides including police, fire and the entire department of public works. Additionally, he sold the excess capacity in the City's sewage disposal system to Oakland County for $55 million, reduced the city's overall debt from $105 million to $28 million and cut the City's general fund expenses from a level of $57 million six years ago to $30 million for the current fiscal year.
These moves along with numerous other creative changes resulted in allowing Schimmel to balance the City's budget going forward and to not declare bankruptcy, which many thought not possible when he became the City's Emergency Manager. Mr. Schimmel resigned as Pontiac's Emergency Manager on August 19, 2013 and, on the same day, he was appointed by Governor Snyder to a four member Transition Advisory Board to oversee the City of Pontiac in the future years. He still serves in that capacity.
While Executive Administrator of Warren, Schimmel negotiated eight union labor contracts and was involved in management decisions that resulted in a more efficient city operation and significant savings in tax dollars.
In February 2001, Mr. Schimmel retired as the Executive Director of the Municipal Advisory Council of Michigan (MAC), a statistical clearing house for investment bankers located throughout the United States who underwrite and/or invest in Michigan municipal bond issues. Mr. Schimmel has a vast background in municipal finance, has served on numerous boards and commissions, has authored several articles and trade publications and continually advised state and local officials on fiscal matters. He is recognized in the municipal bond industry as an authority on the creditworthiness of Michigan municipal debt issues.
In December 1986, the Chief Judge of the Wayne County Michigan Circuit Court appointed Schimmel to be the Receiver for the debt-ridden City of Ecorse. He served as the City's Receiver for nearly 4 years during which period he completely eliminated the City's $6,000,000 deficit by negotiating unique labor union contracts and by privatizing nearly all services provided by the City.
In November 2000, Governor Engler appointed Schimmel to again bail out a financially troubled city, this time the City of Hamtramck. During his 5 years as the State appointed Emergency Financial Manager in Hamtramck he sold unused assets, out sourced services, resolved numerous long standing legal matters and streamlined city government operations.
In the past Mr. Schimmel served on the Waterford, Michigan School Board for eight years--two years as board president. He is a past president of the Bond Club of Detroit. He also served on the Board of Directors and Executive Committee of the Pontiac State Bank from 1972 to 1988. He is a graduate of Michigan State University.
Ms. Shanle, also announced today that the founder of Municipal Financial Consultants Incorporated, John R. Axe, has returned, effective August 1, 2014, to serve as Chairman of MFCI. Mr. Axe, who founded the firm in 1981, served as its President and then Chairman until January of 2010, has returned to the firm where he will serve on the Board of Directors and also as the Project Director for various projects where the firm is financial consultant for one of its many municipal clients.
Mr. Axe's experience as a Financial Advisor to municipalities extends back to the 1970's when municipalities first were required by the SEC to prepare offering circulars in order to market municipal bonds.
A graduate of the University of Michigan and the Harvard Law School, Axe currently serves as a member of the board of the Michigan Judges Retirement System and in the past served as a member of the Higher Education Assistance Authority of the State of Michigan.
MFCI serves as Financial Advisor to counties, cities, townships, and other municipal authorities in Michigan. In 2014, the firm has successfully marketed 17 municipal bonds and notes for the Counties of Oakland, Macomb, Washtenaw, Berrien, Crawford, Van Buren and Dickinson, the City of Warren, Waterford School District and Benton Charter Township. All of these securities, which totaled over $112,000,000, were marketed at competitive sales. In August, MFCI will be offering the largest competitive issue to be sold this year in Michigan for any municipality, which will be a $32,545,000 refunding bond issue for the City of Warren.
SOURCE Municipal Financial Consultants Incorporated
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devices - comp...
Aug. 25, 2016 02:00 PM EDT Reads: 3,540
Kubernetes, Docker and containers are changing the world, and how companies are deploying their software and running their infrastructure. With the shift in how applications are built and deployed, new challenges must be solved. In his session at @DevOpsSummit at19th Cloud Expo, Sebastian Scheele, co-founder of Loodse, will discuss the implications of containerized applications/infrastructures and their impact on the enterprise. In a real world example based on Kubernetes, he will show how to ...
Aug. 25, 2016 01:45 PM EDT Reads: 1,351
SYS-CON Events announced today that Venafi, the Immune System for the Internet™ and the leading provider of Next Generation Trust Protection, will exhibit at @DevOpsSummit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Venafi is the Immune System for the Internet™ that protects the foundation of all cybersecurity – cryptographic keys and digital certificates – so they can’t be misused by bad guys in attacks...
Aug. 25, 2016 01:00 PM EDT Reads: 2,583
The 19th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Digital Transformation, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportuni...
Aug. 25, 2016 01:00 PM EDT Reads: 3,876
SYS-CON Events announced today that Hitrons Solutions will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Hitrons Solutions Inc. is distributor in the North American market for unique products and services of small and medium-size businesses, including cloud services and solutions, SEO marketing platforms, and mobile applications.
Aug. 25, 2016 12:51 PM EDT Reads: 231
As the world moves toward more DevOps and Microservices, application deployment to the cloud ought to become a lot simpler. The Microservices architecture, which is the basis of many new age distributed systems such as OpenStack, NetFlix and so on, is at the heart of Cloud Foundry - a complete developer-oriented Platform as a Service (PaaS) that is IaaS agnostic and supports vCloud, OpenStack and AWS. Serverless computing is revolutionizing computing. In his session at 19th Cloud Expo, Raghav...
Aug. 25, 2016 12:45 PM EDT Reads: 540
Is the ongoing quest for agility in the data center forcing you to evaluate how to be a part of infrastructure automation efforts? As organizations evolve toward bimodal IT operations, they are embracing new service delivery models and leveraging virtualization to increase infrastructure agility. Therefore, the network must evolve in parallel to become equally agile. Read this essential piece of Gartner research for recommendations on achieving greater agility.
Aug. 25, 2016 12:45 PM EDT Reads: 568
DevOps at Cloud Expo – being held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA – announces that its Call for Papers is open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the world's largest enterprises – and delivering real results. Am...
Aug. 25, 2016 12:15 PM EDT Reads: 3,377
Fact: storage performance problems have only gotten more complicated, as applications not only have become largely virtualized, but also have moved to cloud-based infrastructures. Storage performance in virtualized environments isn’t just about IOPS anymore. Instead, you need to guarantee performance for individual VMs, helping applications maintain performance as the number of VMs continues to go up in real time. In his session at Cloud Expo, Dhiraj Sehgal, Product and Marketing at Tintri, wil...
Aug. 25, 2016 11:00 AM EDT Reads: 521
Ixia (Nasdaq: XXIA) has announced that NoviFlow Inc.has deployed IxNetwork® to validate the company’s designs and accelerate the delivery of its proven, reliable products. Based in Montréal, NoviFlow Inc. supports network carriers, hyperscale data center operators, and enterprises seeking greater network control and flexibility, network scalability, and the capacity to handle extremely large numbers of flows, while maintaining maximum network performance. To meet these requirements, NoviFlow in...
Aug. 25, 2016 11:00 AM EDT Reads: 1,823
StarNet Communications Corp has announced the addition of three Secure Remote Desktop modules to its flagship X-Win32 PC X server. The new modules enable X-Win32 to safely tunnel the remote desktops from Linux and Unix servers to the user’s PC over encrypted SSH. Traditionally, users of PC X servers deploy the XDMCP protocol to display remote desktop environments such as the Gnome and KDE desktops on Linux servers and the CDE environment on Solaris Unix machines. XDMCP is used primarily on comp...
Aug. 25, 2016 10:30 AM EDT Reads: 477
SYS-CON Events announced today that StarNet Communications will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. StarNet Communications’ FastX is the industry first cloud-based remote X Windows emulator. Using standard Web browsers (FireFox, Chrome, Safari, etc.) users from around the world gain highly secure access to applications and data hosted on Linux-based servers in a central data center. ...
Aug. 25, 2016 09:15 AM EDT Reads: 587
SYS-CON Events announced today that eCube Systems, a leading provider of middleware modernization, integration, and management solutions, will exhibit at @DevOpsSummit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. eCube Systems offers a family of middleware evolution products and services that maximize return on technology investment by leveraging existing technical equity to meet evolving business needs. ...
Aug. 25, 2016 09:00 AM EDT Reads: 489
SYS-CON Events announced today Telecom Reseller has been named “Media Sponsor” of SYS-CON's 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Telecom Reseller reports on Unified Communications, UCaaS, BPaaS for enterprise and SMBs. They report extensively on both customer premises based solutions such as IP-PBX as well as cloud based and hosted platforms.
Aug. 25, 2016 09:00 AM EDT Reads: 563
For basic one-to-one voice or video calling solutions, WebRTC has proven to be a very powerful technology. Although WebRTC’s core functionality is to provide secure, real-time p2p media streaming, leveraging native platform features and server-side components brings up new communication capabilities for web and native mobile applications, allowing for advanced multi-user use cases such as video broadcasting, conferencing, and media recording.
Aug. 25, 2016 08:45 AM EDT Reads: 2,108