--(www.USEquityNews.com)-- 10/07/2008 - Business Services industry alert provided by U.S. Equity News. Argyle Security, Inc. (OTC Bulletin Board: ARGL), ("Argyle") a service and solutions provider in the physical electronic security industry, announced recently that on October 3, 2008 its wholly owned subsidiary "Argyle Security USA" (d/b/a for ISI Security Group, Inc.) entered into a loan agreement with The PrivateBank and Trust Company, based in Chicago, Illinois (the "Bank"). This agreement provides that the Bank will make available to Argyle Security USA a secured revolving line of credit up to the amount of $10 million, a secured revolving line of credit up to the amount of $5 million to be used for the issuance of letters of credit, and a term loan of up to $10 million (collectively, the "Loans"). The Loans have a three-year maturity and, upon closing, the proceeds were used to pay off existing indebtedness, with the remaining availability to be used for working capital and other general corporate purposes. The Loans will be secured by liens on and security interests in the personal property of Argyle USA and guaranteed by the subsidiaries of Argyle Security USA. Argyle is not a guarantor to the Loans.
Bowne & Co., Inc. (BNE), a global leader in shareholder and marketing communication services, recently announced that it has entered into a strategic marketing and sales alliance with Clarity Systems, a provider of software solutions for financial budgeting, planning, forecasting, consolidation, analytics and financial statement reporting. As a result of the alliance, Bowne is launching a new financial statement reporting tool for automated external reporting. Bowne's tool offers compliance clients support further upstream in their documents' lifecycles and improves the efficiency of the external reporting process. In addition to helping clients consolidate, edit, track and manage their financial reports, Bowne's automated external reporting tool offers attractive, additional benefits for clients. Through state-of-the-art technology, it will be integrated with the Bowne's robust composition network, and offers clients multiple output formats, including Microsoft Word(R), PDF, EDGAR-ready HTML and XBRL. "Our alliance with Clarity enables us to offer compliance professionals a true end-to-end solution," said Bill Penders, President of Bowne. "Bowne's external reporting software automates a traditionally manual process, and by integrating this capability with our existing suite of compliance solutions, clients' projects will move seamlessly throughout the entire document life cycle, from the earliest stages of file creation straight through to the final stages, including submission to the SEC and delivery to shareholders."
G&K Services, Inc.
