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| What is Sallie Mae? | Top |
| From Wikipedia : The Student Loan Marketing Association was originally created in 1972 as a government-sponsored enterprise (GSE) and began privatizing its operations in 1997 , a process it completed at the end of 2004 when Congress terminated its federal charter, ending its ties to the government. The company remains the country's largest originator of federally insured student loans. Through its specialized subsidiaries and divisions, Sallie Mae also provides debt management services as well as business and technical products to a range of business clients, including colleges, universities and loan guarantors. In 2005, Sallie Mae was among 53 entities that contributed the maximum of $250,000 to the second inauguration of President George W. Bush. In August 2006, Sallie Mae acquired Upromise, a company that provides rebates to buyers of certain brands, which can be applied to college savings accounts. Sallie Mae and Upromise plan to market comprehensive financial packages to parents and students, including investment plans, financial aid information, and student loans. On April 16, 2007, Sallie Mae announced that an investor group led by J.C. Flowers & Co. signed an agreement to purchase Sallie Mae for approximately $25 billion (USD). Had the transaction completed, J.C. Flowers along with private-equity firm Friedman Fleischer & Lowe would have owned 50.2 percent of Sallie Mae, and of America and JPMorgan Chase would each have owned 24.9 percent. Sallie Mae would have ceased to be a publicly traded company. The deal fell through in September 2007, with the buyers blaming adverse changes to the business's outlook as a result of the College Cost Reduction and Access Act of 2007 and the tightening of global credit markets following the 2007 subprime mortgage financial crisis. Sallie Mae subsequently began legal action, only to drop it in January 2008 upon completion of a $31 billion funding round, including funding from of America. Source | |
| Pro Cyclocross Rumors and Rumblings - October 29, 2009 | Top |
| Today, here a Pro Cyclocross Rumors and Rumblings Headquarters, we’re rolling out a new feature in the column, a mini-interview with some of cyclocross’ emerging stars and little known protagonists. First up on the agenda is RGM Watches - Richard Sachs - Radix’s own Dan Timmerman who’s made quite an impression in New England so far this season. Outside of our pro spotlight, we’ve got an update on the medical condition of Bart Wellens, who has been out of action so far this season and some transfer news for the road from this side of the Atlantic. Dan Timmerman - Pride of New England Dan Timmerman is becoming somewhat of a household name in the Verge New England Cyclocross Championship Series these days, after moving to the RGM Watches - Richard Sachs - Radix team at the beginning of this cyclocross season, joining fellow new recruits Josh Dillon and Amy Dombroski , making up one of the best teams in the nation. Timmerman has been dominant in New England this year, taking home two wins in Vermont in September, as well as repeating that double last weekend in New Gloucester, Maine. Timmerman currently is wearing the NECCS leader’s jersey and has a good shot at holding it until the series’ final weekend at the NBX Grand Prix in Warwick, Rhode Island. Without further ado, 10 burning questions for Mr. Timmerman: 1) What’s your favorite race of this season been so far? This season, my favorite race has been Granogue. It was really muddy, but warm and it was fun slipping and sliding around. I usually don’t excel in the mud but I felt I’ve made some improvement there. 2) You’ve just won a big race, what’s your ultimate post-race meal? 6 beers to numb my gut. My stomach doesn’t like me racing cross. 3) What’s your biggest career achievement to date? I’ve had a fridge magnet made with my picture on it. I got back from a race weekend one day, and a friend of mine was handing out fridge magnets with my face on them. Kind of strange, but at the same time, I guess it’s flattering. 4) If you could be anything besides a bike racer, what would it be? I’d be me with more time, minus a cell phone and a car….and a few less bikes too. 5) How did you get your start in cyclocross? What’s been your biggest influence? I started racing cross on my mountain bike in upstate New York somewhere around a decade ago. My first “real” season racing UCI on a cross bike was ‘06 with Fiordifrutta. It took me like two years to convince them to let me race cross with them though. My older brother Matt, who would later become a pro downhiller, got me racing mountain bikes back in the ’90s. It’s all those years on the MTB that much later made cross a good fit for my skill set. 6) What was your first bike? What about it sticks out in your mind? My first cross bike was my old Independent Fabrications team issue mountain bike from 1998. It was green and yellow with stars. I got on the I.F. team back then and paid cost or whatever for a frame and that bike has been everywhere with me. I raced it as a teenager in New York and New England. One year it was the only bike I rode really. I trained on it during the week and raced it on the weekend. Then I flogged it on trails out in AZ, strapped a trailer on it and rode it from L.A. to San Francisco, across Washington state and then from Oregon to NY. Then I flogged it some more back here in New York cross racing and trail riding. Now it hangs in my parents barn. 7) If you could win one race, which would it be? That race they have in December where they give out those cool jerseys. Either that or the race for the Pink Slipper [a local bragging rights race in Central New York] Who do you consider your biggest rival? Life. I’ve got too much on my plate at once sometimes. 9) Who is your biggest idol? I don’t think I’ve ever had an idol. Actually, I don’t think I even really understand what an idol is. 10) Got any crazy pre-race rituals? I usually like to cram in a six hour drive and eat a few Twizzlers. Bart Wellens Aims For December Return Bart Wellens looks to make an early return from Cytomegalovirus which has taken him out of contention for the first half of the European cyclocross season. Wellens’ latest blood tests have shown that he is free of the virus, which has sapped his strength and form for every race so far this season. While he’s been waiting to get clearance to ride again, Wellens has been providing commentary for VT4, a Belgian television station. Wellens, however, has since returned to training, and he hopes to be back racing by the time that the GvA Trofee series heads to Essen on December 12th. We all wish Wellens well in his return to form and look forward to seeing him back at the front of races in the new year! Cyclocross Stars Make Some Road Team Switches There has been a bit of movement amongst the stars of the American cyclocross circuit as American riders start to look towards the road season that is quickly approaching. Davide Frattini , who has been riding this season for Fuji Bicycles, has sparked some questions as to where his future lies or whether his move to Fuji was purely to garner support for the cyclocross season. That question has been settled as it has been announced that Frattini will be moving to Team Type 1 in 2010. Team Type 1 is based around raising awareness for Type 1 Diabetes, and it employs a number of riders with Diabetes. Frattini, who is not one of the riders with diabetes, will bring overall leadership to the team which has brought in a number of talented new riders and will challenge in the nation’s major races all season. Frattini moved to Team Type 1 from Colavita/Suter Home, which has undergone a rebranding effort in the off season, promoting bicycle supplier Jamis Bikes to title sponsor, and is now Jamis - Suter Home. The departure of Frattini has opened up roster space for young cyclocross hot-shot Jamey Driscoll who brings young talent and experience to the team. It is expected that Driscoll will remain with Cannondale/Cyclocrossworld.com during the ‘cross season, where he has been one of the fastest and most consistent riders in North America so far this season. Wondering what your favorite mudders have been up to? Doing your homework so you can win Cyclocross Magazine’s fantasy cyclocross league next season? We’ve got you covered with our new, weekly report on your favorite top ‘crossers. Each week Jake Sisson will bring you the latest news, gossip, and maybe even a tweet or two on the pro scene. This is installment #28. Installment #27 is here . Got something worth reporting? Let us know! Related stories: Pro Cyclocross Rumors and Rumblings - October 2, 2009 Pro Cyclocross Rumors and Rumblings - October 8, 2009 Pro Cyclocross Rumors and Rumblings - October 21, 2009 | |
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