|
Report Date : |
21.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
REGAL FABRICS INC. |
|
|
|
|
Registered Office : |
14 Birch Road, Middleton, MA 01949 |
|
|
|
|
Country : |
United States |
|
|
|
|
Date of Incorporation : |
10.09.1987 |
|
|
|
|
Legal Form : |
Corporation – Profit |
|
|
|
|
Line of Business : |
Importer and wholesaler upholstery fabrics |
|
|
|
|
No. of Employees : |
22 employees |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
United
States |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
United States - ECONOMIC OVERVIEW
The US has the largest and most technologically powerful economy in the
world, with a per capita GDP of $48,100. In this market-oriented economy,
private individuals and business firms make most of the decisions, and the federal
and state governments buy needed goods and services predominantly in the
private marketplace. US business firms enjoy greater flexibility than their
counterparts in Western Europe and Japan in decisions to expand capital plant,
to lay off surplus workers, and to develop new products. At the same time, they
face higher barriers to enter their rivals' home markets than foreign firms
face entering US markets. US firms are at or near the forefront in
technological advances, especially in computers and in medical, aerospace, and
military equipment; their advantage has narrowed since the end of World War II.
The onrush of technology largely explains the gradual development of a
"two-tier labor market" in which those at the bottom lack the education
and the professional/technical skills of those at the top and, more and more,
fail to get comparable pay raises, health insurance coverage, and other
benefits. Since 1975, practically all the gains in household income have gone
to the top 20% of households. Since 1996, dividends and capital gains have
grown faster than wages or any other category of after-tax income. Imported oil
accounts for nearly 55% of US consumption. Oil prices doubled between 2001 and
2006, the year home prices peaked; higher gasoline prices ate into consumers'
budgets and many individuals fell behind in their mortgage payments. Oil prices
increased another 50% between 2006 and 2008. In 2008, soaring oil prices
threatened inflation and caused a deterioration in the US merchandise trade
deficit, which peaked at $840 billion. In 2009, with the global recession
deepening, oil prices dropped 40% and the US trade deficit shrank, as US
domestic demand declined, but in 2011 the trade deficit ramped back up to $803
billion, as oil prices climbed once more. The global economic downturn, the
sub-prime mortgage crisis, investment bank failures, falling home prices, and
tight credit pushed the United States into a recession by mid-2008. GDP
contracted until the third quarter of 2009, making this the deepest and longest
downturn since the Great Depression. To help stabilize financial markets, in
October 2008 the US Congress established a $700 billion Troubled Asset Relief
Program (TARP). The government used some of these funds to purchase equity in
US banks and industrial corporations, much of which had been returned to the
government by early 2011. In January 2009 the US Congress passed and President
Barack OBAMA signed a bill providing an additional $787 billion fiscal stimulus
to be used over 10 years - two-thirds on additional spending and one-third on
tax cuts - to create jobs and to help the economy recover. In 2010 and 2011,
the federal budget deficit reached nearly 9% of GDP; total government revenues
from taxes and other sources are lower, as a percentage of GDP, than that of
most other developed countries. The wars in Iraq and Afghanistan required major
shifts in national resources from civilian to military purposes and contributed
to the growth of the US budget deficit and public debt - through 2011, the
direct costs of the wars totaled nearly $900 billion, according to US
government figures. In March 2010, President OBAMA signed into law the Patient
Protection and Affordable Care Act, a health insurance reform bill that will
extend coverage to an additional 32 million American citizens by 2016, through
private health insurance for the general population and Medicaid for the
impoverished. Total spending on health care - public plus private - rose from
9.0% of GDP in 1980 to 17.9% in 2010. In July 2010, the president signed the
DODD-FRANK Wall Street Reform and Consumer Protection Act, a law designed to
promote financial stability by protecting consumers from financial abuses,
ending taxpayer bailouts of financial firms, dealing with troubled banks that are
"too big to fail," and improving accountability and transparency in
the financial system - in particular, by requiring certain financial
derivatives to be traded in markets that are subject to government regulation
and oversight. Long-term problems include inadequate investment in
deteriorating infrastructure, rapidly rising medical and pension costs of an
aging population, sizable current account and budget deficits - including
significant budget shortages for state governments - energy shortages, and stagnation
of wages for lower-income families.
|
Source : CIA |
Company name: REGAL FABRICS INC.
Address: 14 Birch Road,
Middleton, MA 01949 - USA
Telephone: +1 978-777-6868
Fax: +1 978-777-9901
Website: www.regalfabrics.com
Corporate ID#: 042977185
State: Massachusetts
Judicial form: Corporation – Profit
Date incorporated: September
10, 1987
Stock: 15,000
shares common (100 shares issued and outstanding)
Value: No
par value
Name of manager: Herbert
KAHAN
Business:
Importer and wholesaler upholstery fabrics.
Suppliers include:
HAINING CITY HONGLANG TEXTILE CO LTD
NO 2 Xucun High Industrial Zone Haining City China
EIN: 04-2977185
Staff: 22
Operations & branches:
At the headquarters, we
find a warehouse and office, on 40,000 sq. feet, owned.
Shareholders:
This is a KAHAN family
owned and managed company.
Management:
Steven A. KAHAN, President and Director
Herbert KAHAN, Director and CEO
Arlene KAHAN, Director and Secretary
Ronda D. KAHAN-WILSON, Director
As far as we know,
they are involved in other local corporations, including:
REGAL CONTRACT FABRICS, INC.
14 Birch Road, Middleton, MA 01949
Incorporated in Massachusetts on 11-22-1999
ID# 000681496
In United States, privately
held corporations are not required to publish any financials.
On a direct call, a
financial assistant controlled the present report but deferred any financials.
Sales declared for fiscal
year 08-31-2012 is in the range of USD 3,800,000=
The business is said to be
profitable.
Banks: Bank of America
...
Legal filings
& complaints:
As of today date, there is no legal filing pending with the Courts.
Secured debts
summary (UCC):
File number: 200208835750
Date filed: 02-04-2002
Secured Party: GE CAPITAL COMMERCIAL
SERVICES INC.
PO BOX 2730, HIGH POINT NC 27261
File number: 201078072180
Date filed: 01-28-2010
Secured Party: ROSENTHAL & ROSENTHAL,
INC.
1370 BROADWAY, NEW YORK NY
10018
File number: 87728709
Date filed: 10-01-1987
Secured Party: FIRST FACTORS CORPORATION
PO BOX 2730, HIGH POINT NC 27261