| Find out about franchises, how to buy one
Sparks residents considering buying a franchise are invited to attend a seminar from 7:30 to 9 a.m. Thursday at the Washoe County Complex, 1001 E. 9th St. in Reno. Participants will have the opportunity to learn about small business and franchise facts, strategies for finding the right business, the legalities of franchising and how to properly investigate franchises. To register, visit www.sparkschamber.org .
Village Coffee brews up growth
Village Coffee is branching out. Village Coffee founder Tommy Lowery currently owns three stores -- the original in Troy and two in east Montgomery -- and he's sold licenses in Millbrook, Prattville and Enterprise as well as one in California. He says he's negotiating a dozen other license deals. The Alabama-based company is growing through licensing, which allows the buyer a more affordable and more flexible opportunity than franchising, Lowery said. Under a franchise agreement, the store operator follows instructions from corporate on almost every aspect of running the business. In a license agreement, the store owner has permission to use a company's name and sell its products, according to Daniel Slocki, a counselor at the Auburn University Small Business Development Center.
CP Rail to buy DM&E for at least $1.48 billion
NEW YORK (Reuters) - Canadian Pacific Railway Ltd said it planned to buy the Dakota, Minnesota & Eastern Railroad Corp for at least $1.48 billion to expand its network and increase its access to U.S. Midwest markets. Canada's No. 2 railway will expand by about 2,500 miles of track in acquiring DM&E, the largest U.S. regional railroad, CP Rail said late on Tuesday. Calgary, Alberta-based CP Rail, which expects the deal to close in the next 30 to 60 days, said the deal for the private company consisted of a $1.48 billion cash payment upon closing and future contingent payments of up to about $1 billion. "The DM&E is a high-quality, growing regional railroad that complements our existing franchise," CP Rail Chief Executive Fred Green said in a statement. "This investment presents the opportunity for future growth through further expansion of our network and is accretive to our EPS in 2008." The deal for Sioux Falls, South Dakota-based DM&E comes after CP Rail said in July it had rejected an "inquiry" by Brookfield Asset Management and denied it was in takeover talks.
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