LYCOS RETRIEVER 
Tanger
built 182 days ago
GREENSBORO, N.C., Aug. 30 /PRNewswire-FirstCall/ -- Steven B. Tanger will be a CNBC Squawkbox guest speaker on Friday, August 31. "Squawk Box" is the ultimate "pre-market" morning news and talk program, where the biggest names in business and politics bring their most important stories. "Squawk's unique sense of street smarts and wit, mix business news with an unscripted and fast- paced exchange of banter. "Squawk Box" brings Wall Street to Main Street and is a "must see" for everyone from the professional trader to the casual investor.
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Tanger is a REIT that engages in acquiring, developing, owning, operating, and managing factory outlet shopping centers. Headquartered in Greensboro, NC, the company will be added to the S&P SmallCap 600 GICS Retail REITs Sub- Industry index.
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As of June 30, 2007, Tanger had $683.5 million of debt outstanding, equating to a 31.7% debt-to-total market capitalization ratio. As of June 30, 2007, 98.8% of Tanger's debt was at fixed interest rates and the company had $7.9 million outstanding on its $200.0 million in available unsecured lines of credit. During the second quarter of 2007, Tanger continued to maintain a strong interest coverage ratio of 3.25 times, compared to 3.08 times during the second quarter of last year.
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Tanger added six new centers to its portfolio. The Riverhead, New York center was built on Long Island to attract vacationers as well as New York City residents. The center eventually became one of Tanger's largest. had been a pioneering tenant at many of Tanger's earlier centers. Claiborne was one of a core group of retailers, including Brooks Brothers, Reebok, London Fog, and Bugle Boy, that followed along with Tanger's expansion, opening a new store at almost every new location. Aside from the Riverhead site, two other resort-area centers opened in 1994: the Lancaster, Pennsylvania center drew shoppers from the Amish Country tourist area, and the center in Branson, Missouri, was close to the Music City vacation area.
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The adjective tangerine, from Tangier or Tanger, was already an English word (first recorded in 1710), meaning "of or pertaining to Tangier." This adjective had been formed with the suffix -ine, as in Florentine. The fruit was first called a tangerine orange, later reduced simply to tangerine. Confusion exists between the name tangerine and the name mandarin, and with good reason. The tangerine is a type of mandarin orange, so the oranges shipped from Tangier could ... accurately have been called mandarins. However, although the two names can be used interchangeably in a general sense, there is now a particular type of orange called tangerine, which is different from another type now called mandarin.
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Today, Tanger is once again a thriving, multicultural hub and second only to Casablanca in terms of its industrial importance. Tourism is ... becoming extremely important to Tangier's economy; it's a popular destination with foreigners and Moroccans alike. In addition to the traditional draws of the souks in the medina, wonderful restaurants dotted throughout and the cave of Hercules - a few miles from the city, where Hercules is said to have rested before one of his 12 labours - huge foreign investment is making Tangier an even more attractive destination.
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Tanger