Investment Weekly News back issues from October 2008:
Investment Grade Municipal Income Fund Inc. and Insured Municipal Income Fund Inc. Announce Board Approval to Partially Redeem Auction Preferred Shares.
Oct 04, 2008 ... The Boards of Directors of Insured Municipal Income Fund Inc. (NYSE: PIF) and Investment Grade Municipal Income Fund Inc. (NYSE: PPM) (the "Funds"), each a registered closed-end management investment company, have approved the partial redemption of each Fund's auction preferred shares ...
North American Scientific Reports Fiscal Third Quarter Results.(Financial report)
Oct 04, 2008 ... North American Scientific, Inc. (Nasdaq:NASM), operating as NAS Medical, announced financial results for its fiscal third quarter ended July 31, 2008. For the third quarter of fiscal 2008, the Company reported revenues from continuing operations of approximately $3.4 million, a 26% ...
Pacific Office Properties Trust Declares First Dividend.
Oct 04, 2008 ... Pacific Office Properties Trust, Inc. (AMEX:PCE), a West Coast office REIT, announced that its Board of Directors has declared a cash dividend of $0.05 per share of its common stock for the third quarter 2008. The dividend will be payable on October 15, 2008 to shareholders of record on ...
Coughlin Stoia Geller Rudman & Robbins LLP Files Class Action Suit against Hansen Natural Corporation.
Oct 04, 2008 ... Coughlin Stoia Geller Rudman & Robbins LLP ("Coughlin Stoia") (http://www.csgrr.com/cases/hansen/) announced that a class action has been commenced in the United States District Court for the Central District of California on behalf of purchasers of Hansen Natural Corporation ("Hansen ...
The DWS Dreman Value Income Edge Fund, Inc. Provides Update on Positions in Securities of Government-Sponsored Entities GSEs.
Oct 04, 2008 ... DWS Dreman Value Income Edge Fund, Inc. (NYSE: DHG) announced it will post an update on its positions in securities of government-sponsored entities (GSEs) Fannie Mae and Freddie Mac on its website, www.dws-investments.com. For more information on the Fund please contact a representative ...
Daimler Financial Services Forms Innovative Technology, Education Partnership With John F. Kennedy Center for the Performing Arts to Benefit Middle School Teachers and Students Across the United States.(Company overview)
Oct 04, 2008 ... Daimler Financial Services Americas, LLC, and the John F. Kennedy Center for the Performing Arts announced an innovative education program that combines new media digital technology and the creativity of middle school students and their teachers. The program, called "On ...
Winstead Launches New Financial Services Industry Law Blog.
Oct 04, 2008 ... What if you could read news and commentary on important issues affecting troubled commercial assets in the financial services industry at the click of a mouse? The attorneys of Winstead PC are pleased to announce the launch of the firm's new Financial Services Industry law blog titled ...
First Command Bank Warns Consumers of Voice Phishing Scam.
Oct 04, 2008 ... First Command Bank is warning consumers about a new identity theft scam that uses the telephone to steal credit card data. With voice phishing (also known as "voiching" or "vishing"), identity thieves use voice response telephone systems to dupe consumers into revealing personal ...
Investing and the Bear Market: Consortium of Financial Professionals Gives Advice on 10 Smart Moves to Make in a Bear Market.
Oct 04, 2008 ... When the Dow Industrials announced a 6.3 percent loss in June, its worst June performance since 1930, analysts declared that investors had officially entered Bear territory. A few months into this new reality and some of us are still wondering, What now? Mike Flower, an independent ...
Unite Calls for Urgent Action to Shore up Financial Services Sector.
Oct 04, 2008 ... Unite, the UK's largest trade union with thousands of members working in the financial services sector, has today (Tuesday 16th September) called for intervention to restore confidence in the industry to protect its long-term stability. In a week that the global ...
Prudential Mortgage Capital Company Closes $46.5 Million Loan in Mexico for Verde Realty.
Oct 04, 2008 ... Prudential Mortgage Capital Company recently closed a $46.5 million loan in Mexico on behalf of its general account for Verde Realty. The fixed rate 84-month term loan was combined with an existing $93 million loan. The pooled portfolio comprises 22 industrial manufacturing properties ...
FASB Issues Exposure Drafts to Amend Statement 140 and Interpretation 46.
Oct 04, 2008 ... The Financial Accounting Standards Board (FASB) issued three separate but related Exposure Drafts (EDs) for public comment. The proposed FASB Statements, Accounting for Transfers of Financial Assets, and Amendments to FASB Interpretation No. 46(R), address amendments to FASB Statement No ....
New Center to Foster Financial Inclusion of World's Poor through Private-Sector Engagement.
Oct 04, 2008 ... Can commercial microfinance institutions organize themselves to protect the interests of their poor clients? The Center for Financial Inclusion at ACCION International is launching its activities today with a focus on answering that provocative question, among others. The Center will ...
PG&E Corporation Declares Quarterly Common Stock Dividend; Utility Declares Preferred Stock Dividends.
Oct 04, 2008 ... PG&E Corporation (NYSE:PCG) today declared the third quarter 2008 regular cash dividend of 39 cents per share on the Corporation's common stock. The dividend is payable on October 15, 2008, to shareholders of record on September 30, 2008. "PG&E's solid common stock dividend and ...
FASB Issues FASB Staff Position FSP No. 133-1 and FIN 45-4, Disclosures about Credit Derivatives and Certain Guarantees: an Amendment of FASB Statement No. 133 and FASB Interpretation No. 45, and Clarification of the Effective Date of FASB Statement.
Oct 04, 2008 ... The Financial Accounting Standards Board (FASB) has issued FASB Staff Position (FSP) No. 133-1 and FIN 45-4, Disclosures about Credit Derivatives and Certain Guarantees: An Amendment of FASB Statement No. 133 and FASB Interpretation No. 45; and Clarification of the Effective Date of FASB ...
Newcastle Announces Third Quarter Common Stock Dividend and Declares Its Preferred Stock Dividends.
Oct 04, 2008 ... Newcastle Investment Corp. (NYSE:NCT) announced that its Board of Directors has declared a quarterly dividend of $0.25 per common share. The dividend is payable on October 30, 2008, to stockholders of record on October 6, 2008. The Board of Directors of Newcastle has also ...
Zions Bancorporation to Webcast Panel Discussion at RBC Capital Markets 2008 Financial Institutions Conference.(Conference news)
Oct 04, 2008 ... Gerald J. Dent, executive vice president and chief credit officer of Zions Bancorporation (NASDAQ:ZION) will participate in a panel discussion on credit at the RBC Capital Markets 2008 Financial Institutions Conference on Tuesday, September 16, 2008 at 8:30 a.m. ET. A live webcast of the ...
Revlon Announces Completion of Previously-Announced 1-for-10 Reverse Stock Split.
Oct 04, 2008 ... Revlon, Inc. (NYSE: REV) ("Revlon" or the "Company") announced that the 1-for-10 reverse stock split of Revlon's Class A and Class B common stock became effective as of 11:59 p.m., New York City time, on September 15, 2008 (the "Effective Time"). Revlon effected the reverse ...
The Katz/Bloom Group Joins the Beverly Hills Complex of Morgan Stanley.
Oct 04, 2008 ... Morgan Stanley (NYSE:MS) announced that the Katz/Bloom Group, formerly with Citi Smith Barney and CitiGroup Global Wealth Management, has joined the Firm's Global Wealth Management Group (GWMG) office in Beverly Hills. Brian Katz and Craig Bloom, both Senior Vice Presidents, ...
Trintech Introduces Innovative Lifecycle Management and Positive Payments Solution for Financial Institutions and Corporations at Sibos 2008.
Oct 04, 2008 ... Trintech Group Plc (NASDAQ:TTPA), a leading global provider of integrated financial governance, transaction risk management, and compliance solutions, today attended the 2008 Sibos Conference in Vienna to promote its innovative LCM Payments solution developed using Microsoft technology. ...
Freddie and Fannie Won't Fall, but Will Mortgage Rates? Asks Informa Research Services.
Oct 04, 2008 ... In light of the U.S. Department of Treasury's action to place government sponsored enterprises, Freddie Mac and Fannie Mae, into a conservatorship, Informa Research Services knows consumers will be asking, "What does this mean for me?" (http://realestate.yahoo.com/loans) Many ...
East West Bancorp to Participate at RBC Capital Markets Financial Institutions Conference.(Conference news)
Oct 04, 2008 ... East West Bancorp, Inc. (Nasdaq:EWBC), parent company of East West Bank, announced that Tom Tolda, Executive Vice President and Chief Financial Officer, will join a panel to discuss niche banking strategies at the RBC Capital Markets Financial Institutions Conference in Boston on Tuesday, ...
A D S Financial Services Solutions Promotes Erik Golz to President & COO.
Oct 04, 2008 ... A D S Financial Services Solutions (ADS), an IT strategy consulting and systems integration firm serving financial institutions nationwide, announced the promotion of Erik Golz to President & COO. Golz joined ADS in May 2000 as Senior Vice President, Director of Operations where ...
Discover Financial Services Names Additional Board Director, Declares Quarterly Dividend.
Oct 04, 2008 ... Discover Financial Services (NYSE:DFS) announced that Thomas G. Maheras has joined Discover's Board of Directors. Maheras was with Citi for 23 years and has extensive banking and capital markets experience. Prior to leaving Citi, he was chairman and co-CEO of Citi markets and ...
Investors Shifting to Smaller Financial Asset Management Firms.
Oct 04, 2008 ... With the collapse of Bear Stearns, Fannie Mae, Freddie Mac, Merrill Lynch and Lehman Brothers, trust in traditional investment firms has been shaken. A recent study shows investors shifting to small boutique financial asset management firms. "Out of every crisis, an opportunity ...
Farmers Insurance Helps More Than 11,000 People File Claims Following Ike.
Oct 04, 2008 ... As the Greater Houston area transitions from the "search and rescue" phase to the initial recovery phase in the immediate aftermath of Hurricane Ike, Farmers Insurance is on the ground and helping customers. Farmers' Mobile Catastrophe Claims Center rolled into Houston Saturday, within ...
UNIFI Companies Combines Mutual Fund Business of Two Subsidiaries.
Oct 04, 2008 ... UNIFI Companies announced it is consolidating the operations of its two affiliated mutual funds: Summit Mutual Funds and Calvert Group, Ltd. The move combines the unique, individual strengths of Summit Mutual Funds, Inc. and Calvert Group, Ltd. (Calvert), resulting in a single mutual fund ...
Protective Confirms Credit Exposures to Fannie Mae, Freddie Mac, Lehman Brothers and AIG.
Oct 04, 2008 ... Protective Life Corporation (NYSE:PL) confirmed its credit exposures relating to its investments in preferred stock issued by the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac), debt and preferred stock issued by Lehman ...
Bank of America Buys Merrill Lynch Creating Unique Financial Services Firm.
Oct 04, 2008 ... Bank of America Corporation announced it has agreed to acquire Merrill Lynch & Co., Inc. in a $50 billion all-stock transaction that creates a company unrivalled in its breadth of financial services and global reach. "Acquiring one of the premier wealth management, capital ...
Financial Market Impact of Election '08: Fidelity Independent Adviser's Donald R. Dion and Federated Investors' Phil Orlando Discuss.
Oct 04, 2008 ... Donald R. Dion, Jr., the president and chief investment officer of Dion Money Management, and Phil Orlando, the senior equity market strategist at Pittsburgh-based Federated Investors, delivered election analysis and portfolio strategies for both Sen. McCain and Sen. Obama in a video ...
CIT Serves as Financial Adviser in Sale of Snyder Industries.
Oct 04, 2008 ... Edgeview Partners, a CIT company, announced that Snyder Industries Inc., a leading designer and manufacturer of custom-engineered bulk storage containers for liquid and dry materials, has been acquired by Olympus Partners. Terms of the transaction were not disclosed. Previously, ...
American Mortgage Acceptance Company's Board of Trustees Decides Not to Declare Common or Preferred Dividends for the Third Quarter of 2008.
Oct 04, 2008 ... American Mortgage Acceptance Company ("AMAC" or the "Company") (AMEX:AMC) announced that in the interest of preserving the Company's capital, AMAC's Board of Trustees has not declared a dividend on the Company's 7.25% Series A Cumulative Convertible Preferred Shares or common shares for ...
Invesco Updates State of its U.S. Money Market Funds.
Oct 04, 2008 ... Invesco confirmed the strength of its U.S. money market funds. In light of recent events in our industry, and in our ongoing efforts to communicate timely and relevant information to our clients, we continue to emphasize that safety is of paramount importance to the investment ...
Celebrating 20 Years of Financial Innovation - Windham Capital Management, LLC.
Oct 04, 2008 ... For the past 20 years, Windham Capital Management, LLC has bridged the gap between academic innovation and applied finance. With over $40 billion of assets under management and a thriving investment technology business, Windham has no intentions of slowing down. Since its ...
Westwood One Announces the Appointment of Rod Sherwood as Chief Financial Officer.
Oct 04, 2008 ... Westwood One, Inc. (NYSE: WON) announced that it has hired Rod Sherwood as Chief Financial Officer, effective September 17, 2008. Mr. Sherwood joins Westwood One from The Gores Group, LLC. In announcing Mr. Sherwood's appointment, Thomas Beusse, President and CEO of Westwood ...
INSIDE Contactless Appoints Richard Vacher Detourniere as Chief Financial Officer.
Oct 04, 2008 ... INSIDE Contactless, the world leader in advanced contactless microprocessor platforms, announced it has appointed Richard Vacher Detourniere as chief financial officer (CFO). The appointment brings deep financial expertise, buy-side and sell-side transactions experience, and successful ...
Global Financial Services Community Increases Adoption of Bottomline's Payments and Cash Management Solutions.
Oct 04, 2008 ... Bottomline Technologies (NASDAQ: EPAY), a leading provider of collaborative payment, invoice and document automation solutions, today at Sibos 2008 announced growing momentum for its WebSeries(R) Global Cash Management Platform within the banking and financial services community worldwide ...
Survey Reveals What Customers Want from Their Financial Institution.
Oct 04, 2008 ... Generally, bank customers and credit union members say that they are satisfied with the overall experience they receive when they visit their branch. However, a recent study uncovers that there is more that account holders want that could help financial institutions better serve them in ...
Venrock Inducted Into the Private Equity Hall of Fame.
Oct 04, 2008 ... Venrock, the premier venture capital firm originally established as the venture arm of the Rockefeller family, announced that it has been inducted into the Private Equity Hall of Fame. The award was presented during Dow Jones' Private Equity Analyst Conference, currently being held in New ...
AIG Investments Invests in Blue Intercontinental Micro Finance Bank.
Oct 04, 2008 ... AIG Investments announced an investment in Blue Intercontinental Micro Finance Bank ("BIMFB"), a joint venture between Nigeria's Intercontinental Bank and Blue Financial Services ("Blue") aimed to distribute and sell micro-financing services and products into Nigeria's retail market. The ...
BMO Capital Markets Will Donate All Institutional Equity Trading Commissions Earned today to Support Education.
Oct 04, 2008 ... BMO Capital Markets, the investment and corporate banking arm of BMO Financial Group (TSX, NYSE: BMO), is proud to announce its fourth Equity Through Education charitable trading day. Today, all institutional equity trading commissions earned by BMO Capital Markets across North ...
Lincoln Financial Group to Participate in the Bank of America Conference.(Conference news)
Oct 04, 2008 ... Lincoln Financial Group (NYSE:LNC) will participate in the 38th Annual Bank of America Investment Conference on Wednesday, September 17, 2008, at approximately 3:30 p.m. ET. Dennis Glass, president and CEO, will discuss the company's strategy, earnings drivers and outlook. ...
Grupo Acotel Builds New SWIFT Services on Sun Microsystems Infrastructure.
Oct 04, 2008 ... Grupo Acotel announced that it will launch new SWIFT-ready services to help corporate and bank customers in Spain better manage financial communications via the Society for Worldwide Interbank Financial Telecommunication (SWIFT) platform. Based on the Sun Microsystems Open Suite ...
GSC Investment Corp. Announces Election of Seth M. Katzenstein as Chief Executive Officer and Director.
Oct 04, 2008 ... GSC Investment Corp. (NYSE:GNV), a business development company (the "Company"), announced that Seth M. Katzenstein, currently the Company's portfolio manager and a member of its investment committee, was elected Chief Executive Officer and Director, succeeding Thomas V. Inglesby, a Senior ...
Prudential Financial Named Best Place to Launch a Career by BusinessWeek.
Oct 04, 2008 ... Prudential Financial, Inc. (NYSE: PRU) for the second consecutive year is a best place to launch a career according to BusinessWeek magazine. "Prudential is a great place to launch and grow your career," said Marietta Cozzi, Vice President, Staffing. "We have been consistently ...
TradeKing Senior Options Analyst Highlights Near-Term Strategies for Investors in Light of Financial Services Market Meltdown.
Oct 04, 2008 ... Brian Overby, senior options analyst for online broker dealer TradeKing (www.tradeking.com), is available to offer insight into how retail investors, particularly options traders, might find success in the midst of this week's bleak financial services sector news(1). Overby highlights the ...
Federated Investors, Inc. Provides Interim Holdings for the Firm's Money Market Funds.
Oct 04, 2008 ... Federated Investors, Inc. (NYSE:FII), one of the nation's largest investment managers posted interim holdings reports for each of the money market funds the firm manages. The holdings, which are as of the most recent date available, are posted at FederatedInvestors.com and can be found by ...
ING Advisors Network Reduces Ticket-Charge Fees for Producers; Advisory-related Fees Down 10-25 Percent.
Oct 04, 2008 ... The broker-dealers of ING have announced that they are significantly lowering ticket charges (fees on trades) for their financial representatives and advisors on an array of transactions, a reduction intended to make the cost a representative or advisor pays to execute a securities ...
MMV Financial secures an additional $25 million of financing.
Oct 04, 2008 ... MMV Financial Inc. announced that it has secured an additional $25 million of financing under its existing revolving senior credit facility to be contributed by ROI Capital Inc. thereby increasing the total facility to USD $100 million. The senior revolving credit facility is ...
Mutual Protection Trust Sees Minimal Effect From Financial Developments.
Oct 04, 2008 ... The Mutual Protection Trust (MPT), the medical professional liability protection product of the Cooperative of American Physicians, Inc. (CAP), said that the recent restructuring among major financial institutions has had minimal effect on its trust fund portfolio. "By law, ...
Journal Communications Names Andre Fernandez Executive Vice President, Finance and Strategy.
Oct 04, 2008 ... Journal Communications, Inc. (NYSE:JRN) announced that, effective October 20, 2008, Andre J. Fernandez will become Journal Communications' Executive Vice President, Finance and Strategy. Currently Chief Financial Officer for NBC Universal's Telemundo Communications Group, Mr. Fernandez ...
Polonia Bancorp Announces Non-Cash Impairment Charge on Freddie Mac Preferred Stock, Expects to Remain "Well Capitalized".
Oct 04, 2008 ... Polonia Bancorp (OTCBB:PBCP) (the "Company") announced that in connection with the actions taken by the United States Treasury Department and the Federal Housing Finance Agency on September 7, 2008 with respect to the Federal Home Loan Mortgage Corporation (Freddie Mac), the Company ...
JF China Region Fund Declares Dividend Distribution.
Oct 04, 2008 ... The Board of Directors of the JF China Region Fund, Inc. (NYSE: JFC; the "Fund") is pleased to declare a dividend of $4.695 per share. The dividend distribution will constitute payment of the Fund's 2007 spillback distribution pursuant to Section 855 of the Internal Revenue Code and is ...
MNTR Lead Fund Up In Spite of Crisis at Other Financial Companies.
Oct 04, 2008 ... The Mentor Capital, Inc. (Pink Sheets:MNTR) lead hedge fund has no exposure to financial companies, sub-prime or mortgage related securities. In contrast to the widespread crises in the financial sector, the MNTR lead fund has outpaced the S&P 500 by 14% YTD and is up 1% YTD as of last ...
Harland Financial Solutions Announces New Customer Relationship Management Offering with Touche CRM.
Oct 04, 2008 ... Harland Financial Solutions announced the release of its next generation Customer Relationship Management (CRM) Solution, Touche(R) CRM, at its annual user conference Connections 2008, held in Orlando, Sept. 15-18. Touche CRM succeeds Touche(R) Sales & Service(TM) as Harland ...
J.P. Morgan Introduces Asia Offshore Clearing Services.
Oct 04, 2008 ... J.P. Morgan, a full-service provider of cash management, trade finance, and treasury solutions, today introduced its Asia offshore clearing capability designed to expedite the time it takes to process payments from initiation to settlement. This new capability addresses the global trading ...
BioMed Realty Trust Declares Third Quarter 2008 Common Stock and Preferred Stock Dividends.
Oct 04, 2008 ... BioMed Realty Trust, Inc. (NYSE:BMR) announced that its board of directors has declared a third quarter 2008 dividend of $0.335 per share of common stock. The dividend is equivalent to an annualized dividend of $1.34 per common share. BioMed also announced that its board of ...
Calamos Discusses Minimal Mutual Fund Exposure to 'Headline' Financials.
Oct 04, 2008 ... Financial companies have certainly been in the spotlight, and recent high-profile events have rattled the investment markets. From the collapse of Bear Stearns in March to more recent events such as the federal government's takeover of Fannie Mae and Freddie Mac, Lehman Brothers' ...
Chrysler Financial Offers Financial Relief to Hurricane Ike Affected Customers.
Oct 04, 2008 ... To ensure customers on the Louisiana and Texas coastlines affected by Hurricane Ike are able to focus on immediate personal matters, Chrysler Financial is offering qualified customers the option to defer monthly payments. Effective immediately, Chrysler Financial will offer ...
Heritage Financial Corporation Announces Quarterly Cash Dividend.
Oct 04, 2008 ... HERITAGE FINANCIAL CORPORATION (NASDAQ:HFWA), The Board of Directors of Heritage Financial Corporation, parent company of Heritage Bank and Central Valley Bank, declared a cash dividend of $0.14 per share payable on October 31, 2008 to shareholders of record on October 15, 2008. ...
Inovis BizManager Supports Corporate Compliance with SEC Mandate for XBRL Filing of Financial Data.
Oct 04, 2008 ... Inovis announced that its Inovis BizManager(TM) family of business-to-business, service oriented architecture gateway solutions will support corporations that must comply with the SEC mandate to submit financial data or EDGAR filings to the regulatory commission using XBRL (eXtensible ...
Triangle Pension Consultant and Wealth Management Firm Partner Recognized as a Regional Mover & Shaker.
Oct 04, 2008 ... Gordon Asset Management, LLC announced that David Todd Misenheimer ("Todd") has been recognized by Business Leader magazine as one of the Triangles top Movers & Shakers. Fast rising business leaders are recognized and awarded the distinction as 'Movers & Shakers in the ...
Omni Financial Services Announces Management Change and Restructuring.
Oct 04, 2008 ... Omni Financial Services, Inc. (PINK: OFSI.PK) ("OFSI"), parent company of Omni National Bank, announced that it implemented a reduction in force ("RIF") to reduce expenses and to maximize organizational efficiency primarily at its headquarters located in Atlanta, Georgia and in its Tampa, ...
Zila Completes Reverse Stock Split.
Oct 04, 2008 ... Zila, Inc. (NASDAQ:ZILA) announced that the company has completed a 1-for-7 reverse stock split. Accordingly, every seven shares of the company's common stock have been combined into one share of common stock. Fractional shares will be issued to Zila's shareholders to the extent required ...
Cincinnati Financial Corporation Comments on Full-year 2008 Outlook.
Oct 04, 2008 ... Cincinnati Financial Corporation (NASDAQ:CINF) management will participate in the RBC Capital Markets Financial Institutions Conference in Boston on September 16 and 17, 2008, and speak with investors in Chicago and New York the following week. At those meetings, management expects to ...