Newcomer Dan Henry Leads Pasadena-Based Green Dot Into Its Next Chapter

By on June 12, 2021

first_img Make a comment Name (required)  Mail (required) (not be published)  Website  Home of the Week: Unique Pasadena Home Located on Madeline Drive, Pasadena Your email address will not be published. Required fields are marked * CITY NEWS SERVICE/STAFF REPORT Pasadena Will Allow Vaccinated People to Go Without Masks in Most Settings Starting on Tuesday Business News Newcomer Dan Henry Leads Pasadena-Based Green Dot Into Its Next Chapter By ANDY VITALICIO Published on Wednesday, May 13, 2020 | 1:32 pm Subscribe 59 recommended0 commentsShareShareTweetSharePin it STAFF REPORT Pasadena’s ‘626 Day’ Aims to Celebrate City, Boost Local Economy Business News Herbeauty9 Of The Best Family Friendly Dog BreedsHerbeautyHerbeautyHerbeautyWeird Types Of Massage Not Everyone Dares To TryHerbeautyHerbeautyHerbeautyFinding The Right Type Of Workout For You According AstrologyHerbeautyHerbeautyHerbeautyHe Is Totally In Love With You If He Does These 7 ThingsHerbeautyHerbeautyHerbeautyFollow This Summer Most Popular Celeb Beauty TrendHerbeautyHerbeautyHerbeautyThe Most Heartwarming Moments Between Father And DaughterHerbeautyHerbeautycenter_img Top of the News More Cool Stuff faithfernandez More » ShareTweetShare on Google+Pin on PinterestSend with WhatsApp,Darrel Done BusinessVirtual Schools PasadenaHomes Solve Community/Gov/Pub SafetyPASADENA EVENTS & ACTIVITIES CALENDARClick here for Movie Showtimes STAFF REPORT First Heatwave Expected Next Week Get our daily Pasadena newspaper in your email box. Free.Get all the latest Pasadena news, more than 10 fresh stories daily, 7 days a week at 7 a.m. Dan Henry, Green Dot’s Chief Executive Officer and President. (Photo: Business Wire)Dan Henry, the new CEO and President of Pasadena-based financial technology and bank holding company Green Dot Corporation, said the company will shift to a strategy of relying more on its banking service and less on promoting its traditional products to increase profits, a report in the banking and financial services publication American Banker said.Henry came on board in March to “lead Green Dot into its next chapter,” as former CEO William I. Jacobs said.Jacobs formerly served as interim CEO and continues to serve as Chairman of the Board of Directors.At Green Dot’s first-quarter earnings call Monday, Henry said Green Dot has traditionally launched a new product every year, and then promoted that product. He indicated he wants to reduce marketing spending and instead offer a more consistent product set through its bank subsidiary that customers could use for a longer period of time.“I think what you’re going to see is kind of a philosophical change in the approach in terms of consumer marketing,” Henry said.In the call, Henry said he has been spending the past few weeks since coming on board speaking with the company’s leadership, although most of the engagements have been virtual due to work-from-home requirements.He said he and the leadership team have been working aggressively to eliminate unnecessary expenses, and so far have reduced planned SG&A (selling, general and administrative) expense by close to $30 million for the remainder of the year.“These reductions in expenses will not impact our ability to serve our partners and customers more while we expense reduction hinder our future growth,” Henry said. “Consequently, when we all emerge from this current economic situation, Green Dot will be a leaner, more efficient operation.”Henry made sure Green Dot is not selling its banking subsidiary, Green Dot Bank – also called GoBank and Bonneville Bank – and instead use the asset more to help boost profits.“The intention is to be focused on delivering a consumer banking product that will create lasting value for the mass market consumer in this country,” he said. “We will take full advantage of our bank charter, retail distribution and direct-to-consumer capabilities. I believe the reason we are seeing such an abundance of so-called challenger banks pop up is because both NetSpend and Green Dot squandered their advantages in this space over the past five years. We will be working hard in the coming years to regain that lost ground.”During the call, Green Dot reported first-quarter net income of $46.8 million, down from $64 million in the same period last year. Henry said the company was fortunate to have banked the first quarter before the COVID-19 emergency hit the economy.Green Dot shares have climbed by more than 50 percent since March when Henry was announced to be coming on board as CEO. Early Tuesday, they were trading at $35 per share, up about 14 percent from Monday’s closing, American Banker said in the report. Community News EVENTS & ENTERTAINMENT | FOOD & DRINK | THE ARTS | REAL ESTATE | HOME & GARDEN | WELLNESS | SOCIAL SCENE | GETAWAYS | PARENTS & KIDS Community Newslast_img read more

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Virus aid, no new taxes top US gambling industry 2021 goals

By on February 8, 2021

first_imgATLANTIC CITY, N.J. (AP) — The U.S. gambling industry wants additional financial aid from the next round of coronavirus stimulus legislation, and promises to fight new or higher taxes on its operations as it works to recover from the pandemic. Bill Miller, president of the American Gaming Association, says the industry also wants liability protections as it continues to reopen amid the virus outbreak, and would like to see federal stimulus of tourism, including meetings and conventions. In an online speech Thursday, Miller predicted the gambling industry’s fortunes will improve this year, particularly in the second half, as more people become immunized and economic activity picks up.last_img read more

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LEADING OFF: No ball in New York; Francona still away

By on September 8, 2020

first_img COMMENT A look at what’s happening around the majors Saturday:BIG APPLE BREAKThe Subway Series scheduled for this weekend has been postponed after two members of the Mets tested positive for the coronavirus Thursday. The Mets say they won’t have any team workouts this weekend, instead letting players and coaches isolate at home while New York and Major League Baseball undertake more testing and contact tracing measures.It’s a well-timed pause in the season for the Yankees, who placed shortstop Gleyber Torres and left-hander James Paxton on their crowded injured list Friday. New York was already without star hitters Aaron Judge, Giancarlo Stanton and DJ LeMahieu, as well as left-hander Zack Britton, right-hander Tommy Kahnle and backup catcher Kyle Higashioka. Judge was expected to be activated Saturday after recovering from a strained right calf.NO TITOThe Indians don’t expect to have Terry Francona on the bench this weekend for a series against Detroit after the manager had a scheduled medical procedure for a gastrointestinal ailment Friday. At this point, it’s now known when Francona, a two-time World Series winner, will return. Francona has already missed 14 games this season with health issues and recently revealed he’s had numerous surgeries in the past year for the condition.SIDELINED STRASBURGNationals right-hander Stephen Strasburg may need surgery after being diagnosed with carpal tunnel neuritis on his throwing hand. The 2019 World Series MVP was put on the injured list Aug. 15, a day after he recorded just two outs at Baltimore. After going 18-6 with a 3.32 ERA in 33 starts in 2019, the right-hander is 0-1 this season with a 10.80 ERA in two starts.BACKSTOP BLUESRoyals catcher Salvador Perez is getting some time off to address lingering vision problems. Perez first experienced the issue Sunday morning and called Royals trainer Nick Kenney. He wound up visiting a specialist on Monday and was good enough to return to the lineup, but he’s been out with continued blurry vision the rest of the week. Kansas City placed him on the injured list Friday, and Royals manager Mike Matheny said the specialist found “a little pocket of fluid” and “there’s a long, complex name for it” but there is little long-term risk.Image credits: AP Written By WATCH US LIVE First Published: 22nd August, 2020 06:37 IST FOLLOW UScenter_img Associated Press Television News Last Updated: 22nd August, 2020 06:37 IST LEADING OFF: No Ball In New York; Francona Still Away The Subway Series scheduled for this weekend has been postponed after two members of the Mets tested positive for the coronavirus Thursday SUBSCRIBE TO US LIVE TVlast_img read more

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