Investment Weekly News back issues from April 2009:
Discover Financial Services Issues Preferred Stock to U.S. Treasury under Capital Purchase Program.
Apr 04, 2009 ... Discover Financial Services today received approximately $1.2 billion in cash in exchange for issuing its preferred stock and a warrant to purchase its common stock as part of the U.S. TreasuryEs Capital Purchase Program. Discover issued and sold to the Treasury 1,224,558 shares ...
Fitch Affirms Parmer County Hospital District, Texas' Limited Tax GOs at 'BBB'.
Apr 04, 2009 ... In the course of routine surveillance, Fitch Ratings affirms Parmer County Hospital District, TX's (the district) $12 million in outstanding limited general obligation (GO) bonds, series 2007 at 'BBB'. The Rating Outlook is Stable. The 'BBB' rating reflects the district's ...
One Liberty Properties, Inc. Announces Common Stock Dividend.
Apr 04, 2009 ... One Liberty Properties, Inc. (NYSE: OLP) announced that its Board of Directors has declared a quarterly dividend for the CompanyEs Common Stock of $.22 per share. As part of the CompanyEs focus on conserving cash in these difficult times, the Board has determined to pay this dividend in a ...
Fitch Lowers 3 Classes of Chrysler Financial Auto Securitization Trust 2008-B.
Apr 04, 2009 ... Fitch Ratings has downgraded three and affirmed two classes of the Chrysler Financial Auto Securitization Trust 2008-B (fka DaimlerChrylser Auto Trust 2008-B) as listed below. The rating actions reflect the weaker than expected performance of the transaction above Fitch's ...
LifePoint Hospitals Names Jeffrey Sherman Chief Financial Officer.
Apr 04, 2009 ... LifePoint Hospitals, Inc. (NASDAQ: LPNT) announced that Jeffrey Sherman, age 43, will assume the position of the CompanyEs Executive Vice President and Chief Financial Officer. Mr. Sherman, currently Vice President and Treasurer at Tenet Healthcare, will succeed David M. Dill who, as ...
Water Street Healthcare Partners Selects J.P. Morgan for Private Equity Fund Administration.
Apr 04, 2009 ... J.P. Morgan announced that it has been mandated to provide private equity fund administration services to Water Street Healthcare Partners, a leading private equity firm focused exclusively on the health care industry. With more than $1 billion of capital under management, Water Street is ...
J.P. Morgan Supports Money Market Working Group Recommendations.(Report)
Apr 04, 2009 ... J.P. Morgan Funds, the 4th largest mutual fund complex in the U.S. (FRC, 1/31/09), today affirmed its support of the recommendations contained in the Report of the Money Market Working Group, released by the Investment Company Institute (ICI). J.P. Morgan is an active member of this ...
Lighthouse Prime Services Offers Hedge Connection Marketing Platforms for All Hedge Fund Clients.
Apr 04, 2009 ... Lighthouse Financial, the New York-based investment bank and institutional securities firm, announces a brokerage relationship between Hedge Connection and Lighthouse Prime Services. The exclusive agreement provides Lighthouse Prime Service clients enhanced access to Hedge Connection ...
Platform Computing Sees Strong Growth in Financial Services Business.(Company overview)
Apr 04, 2009 ... Platform Computing, the global leader in grid and cloud solutions for the financial services industry, continues to see strong revenue growth in its FS business as organizations move aggressively to reduce costs through the adoption of grid and cloud technology. In the depths of a global ...
Heckmann Corporation Reports Fourth Quarter and Fiscal Year 2008 Financial Results.(Financial report)
Apr 04, 2009 ... Heckmann Corporation of Palm Desert, California (NYSE: HEK, HEK.U, HEK.WS) (othe Companyo) announced financial results for the fourth quarter and full year ended December 31, 2008. The CompanyEs financial results principally reflect the acquisition of China Water and Drinks, Inc. (oChina ...
McLean Wealth Advisors Launches New Advisor Support Platform Using FundQuest's Technology Services.
Apr 04, 2009 ... McLean Wealth Advisors has launched a new fee-based platform for their investment services business. FundQuest, a leader in managed account solutions, will support McLeanEs financial advisors with a customized suite of technology-based productivity tools, investment research, back-office ...
Invesco Supports ICI Recommendations to Strengthen Money Market Funds.
Apr 04, 2009 ... Invesco (NYSE:IVZ) today lauded the recommendations made by the Investment Company InstituteEs Money Market Working Group that would fortify the highly successful fundamental qualities of money market funds for the benefit of retail and institutional investors. The ...
DTCC's Software Security Program and Leadership Recognized as World-Class.
Apr 04, 2009 ... The Depository Trust & Clearing CorporationEs (DTCC) software security program has been recognized as a world-class leader, providing several key elements of the first software security oyardstick,o according to an independent assessment from Fortify Software, the market leader in software ...
Thrower to Help Lincoln Financial Expand in Florida.
Apr 04, 2009 ... Lincoln Financial Advisors announced that Venetia Thrower has been named Managing Principal of the North Florida Regional Planning Office, located in Orlando, for Sagemark Consulting. Sagemark Consulting is a division of Lincoln Financial Advisors, a broker dealer and registered investment ...
Two Closed-End Funds Advised by Duff & Phelps Investment Management Will Redeem Series of Preferred Stock.
Apr 04, 2009 ... Two closed-end funds advised by Duff & Phelps Investment Management Co. announced that each of them will redeem a series of its preferred securities as part of their stated intent to retire all preferred stock of the funds. -- DNP Select Income Fund Inc. (NYSE:DNP) will redeem ...
EnTitle Insurance Company Creates Program That Benefits First-Time Homebuyers.
Apr 04, 2009 ... Under the American Recovery and Reinvestment Act, qualifying first-time homebuyers will receive up to an $8,000 tax credit this year, which will aid in the recovery of the U.S. economy. In support of the federal governmentEs actions, EnTitle Insurance Company, the leading ...
Rural Community Insurance Services Launches Write Your Own Program for Flood Insurance.
Apr 04, 2009 ... Rural Community Insurance Company (RCIC), a Wells Fargo Company and subsidiary of Rural Community Insurance Services (RCIS) said it has been approved by the Federal Emergency Management Agency (FEMA) to participate in the National Flood Insurance ProgramEs (NFIP) Write Your Own (WYO) ...
Equisearch Expands into Canada to Provide Address Verification Services for the Country's Financial Institutions.
Apr 04, 2009 ... Equisearch, a leading provider of services for the search and recovery of lost financial assets, announced the company will now provide lost account address verification services for Canadian financial institutions in an effort to help them find lost account owners or next of kin so that ...
GE to Webcast March 19 GE Capital Update Meeting.
Apr 04, 2009 ... GE (NYSE: GE) will webcast its 1st Quarter GE Capital Investor Meeting tomorrow, Thursday, March 19, 2009, at 9:00 a.m. ET. GE Vice Chairman & Chief Financial Officer Keith Sherin, GE Vice Chairman & GE Capital Chairman and CEO Mike Neal and members of the GE Capital leadership team will ...
American Discovery Adds Attorneys and Review Facility to Address Increase in Hedge Fund Litigation.
Apr 04, 2009 ... American Discovery, the knowledge-based leader of legal outsourcing to the nation's top law firms and Fortune 500 corporations, announced the addition of new infrastructure to supplement the growth of its Financial Services Practice and its concentration on hedge fund litigation. The ...
Macquarie Capital Appoints Robert Redmond as Vice Chairman.
Apr 04, 2009 ... Macquarie Group (oMacquarieo) announced that Robert D. Redmond will join Macquarie Capital Advisors in the United States as Vice Chairman, a key appointment in the continuing expansion of MacquarieEs North American advisory and capital markets platform. Mr Redmond, who will be based in New ...
Harland Financial Solutions Expands Business Continuity Suite to Include Shared Recovery Services.
Apr 04, 2009 ... Expanding its business continuity offering, Harland Financial Solutions has launched Shared Recovery Services to satisfy a simple, low cost alternative for its credit union clients using the UltraData[R] Enterprise core system in a service bureau environment. Shared Recovery ...
Aquiline Capital Partners LLC Invests in HedgeServ Holdings.
Apr 04, 2009 ... Aquiline Capital Partners LLC (oAquilineo), a New York based private equity firm investing in financial services, announced it has made an investment in HedgeServ Holding LP (individually and collectively with its affiliates oHedgeServo), a hedge fund and fund of hedge fund administrator ...
Cantor Fitzgerald Debt Capital Markets Group Expands Its High Yield and Distressed Sales and Trading Team.
Apr 04, 2009 ... Cantor Fitzgerald & Co. announced significant hires across the sales, trading and research functions of its Debt Capital Markets group today. Among those joining the firm - underscoring its aggressive pursuit of top leveraged finance talent are: Michael Brennan, Brian Devaney, Jeremy ...
Wayne Hummer Asset Management Company Expands Its Institutional Investment Business.
Apr 04, 2009 ... Wayne Hummer Asset Management Company (WHAMCO), a subsidiary of Wintrust Financial Corporation (NASDAQ:WTFC), announced an agreement to purchase certain assets and assume certain liabilities of Advanced Investment Partners, LLC (AIP), an affiliate of State Street Global Alliance, LLC. AIP ...
Norkom Adds Identity Resolution to Its Arsenal of Weapons in the War on Financial Crime.
Apr 04, 2009 ... Norkom Technologies announced the availability of Identity Resolution, the latest addition to the companyEs market-leading suite of solutions for financial crime prevention and regulatory compliance. Powered by IBM InfoSphere Entity Analytic Solutions (EASTM), Norkom Identity ...
Financial Services Industry Reputation Mixed: Public Confidence at Historic Lows, but Industry Gets Credit for Prudent Steps.
Apr 04, 2009 ... A new nationwide consumer poll conducted by Waggener Edstrom Worldwide (WE) and RT Strategies found that only 8 percent of Americans today have full confidence in banks and financial services companies -- a stark reminder of the difficulties facing the financial services industry as it ...
Constellation Investment Consulting Announces That Hedge Fund Managers Welcome Invasive Due Diligence.
Apr 04, 2009 ... In a web-based survey conducted by Constellation Investment Consulting Corp., a leader in risk management for the hedge fund industry, the company announced that in light of recent scandals, managers now expect due diligence to be highly invasive, a practice not generally accepted by hedge ...
TNLMA[TM] Announces Launch of Certification Program for Loan Modification Specialists and Loss Mitigation Companies.
Apr 04, 2009 ... In a continuing response to the National Housing Crisis, TNLMAO (www.TNLMA.org) announced the launch today of a certification program to set standardized policies, procedures and a code of ethics for loan modification and loss mitigation specialists. Upon completion of this certification ...
UMB Financial's Stability Confirmed by Industry Resources.
Apr 04, 2009 ... UMB Financial Corporation (NASDAQ: UMBF) has been recognized for its strength and stability by MoodyEs Investors Service and Bank Director magazine. MoodyEs recently announced its review of U.S. regional bank financial strength ratings (BFSR) and affirmed UMB Financial as ...
CoBiz Financial to Reduce Quarterly Dividend.
Apr 04, 2009 ... CoBiz Financial (NASDAQ:COBZ) announced that its Board of Directors has reduced the company's quarterly common stock dividend from $0.07 to $0.01 per share. The change is effective for the dividend payable May 11, 2009, to shareholders of record on May 4, 2009. The reduction would enable ...
Global Financial Integrity: Support for Levin Stop Tax Haven Abuse Bill Grows.
Apr 04, 2009 ... Approximately two dozen organizations are part of a growing coalition of advocacy groups that have endorsed a bill introduced by Senator Carl Levin (D-MI) that would combat offshore secrecy jurisdictions. Called the "Stop Tax Haven Abuse Act" the Levin bill would, among other benefits, ...
Houlihan Smith Co-Founder and President Andrew Smith to Speak on Hedge Fund Restructuring and Consolidation at GAIM Ops Cayman.
Apr 04, 2009 ... The Ritz-Carlton -- Houlihan Smith & Company, Inc. is a sponsor of the upcoming GAIM Ops Cayman conference set for April 26-29, 2009 at the Ritz-Carlton, Grand Cayman. Each year, the conference draws over 500 industry leaders including a who's who of COOs, CFOs, CROs, CCOs and Heads of Due ...
Information Mosaic Signs Strategic Partnership Deal With Global Outsourcing Provider Broadridge Financial Solutions, Inc.
Apr 04, 2009 ... Information Mosaic, the trusted provider of advanced custody, asset management and wealth management solutions that manage risk in the investor services industry, today signed a multi-year strategic partnership agreement with Broadridge Financial Solutions, Inc. (NYSE:BR), a leading global ...
Pzena Investment Management, Inc. Names Gregory S. Martin Chief Financial Officer.
Apr 04, 2009 ... Pzena Investment Management, Inc. (NYSE: PZN) announced that its Board of Directors has named Gregory S. Martin to the position of Chief Financial Officer, effective May 1, 2009. Mr. Martin has served as the CompanyEs Director of Finance and Accounting since starting with the Company in ...
Grant Thornton LLP Launches New Hedge Fund Registration and Compliance Services.
Apr 04, 2009 ... In response to investor demand for greater transparency as well as pending new legislation, Grant Thornton LLPEs Financial Services practice is launching Hedge Fund Internal Control, Governance and Regulatory Compliance Services. These services will help funds attract new investors who ...
WSFS Relocates Dover Banking Office.
Apr 04, 2009 ... WSFS Financial Corporation (NASDAQ:WSFS), the parent company of WSFS Bank, announced the relocation of its Dover banking office to its new location at 286 S. DuPont Highway in the Dover Mart Shopping Center. This new banking office is less than a mile away from the previous in-store branch ...
Aspen Appoints Rupert Villers to Lead Combined Financial and Professional Lines Insurance Business Segment.
Apr 04, 2009 ... Aspen Insurance Holdings Limited (oAspeno) (NYSE: AHL) announced that it has appointed Rupert Villers, effective April 27, 2009 as head of its newly combined Financial and Professional Lines Insurance business segment. Mr. Villers will be based in London and will report directly to AspenEs ...
TABB Group Promotes Andy Nybo, Miranda Mizen and Laurie Berke to Principals.
Apr 04, 2009 ... TABB Group, the research and strategic advisory firm focused exclusively on capital markets, announced that Andy Nybo, Miranda Mizen and Laurie Berke have been promoted to principals at the international firm. Mr. Nybo also gains the added title as head of derivatives for the firmEs ...
Scottish Re Announces Dan Roth as Chief Financial Officer.
Apr 04, 2009 ... Scottish Re Group Limited (Pink Sheets:SKRRF) (oScottish Reo) announced the appointment of Dan Roth to Chief Financial Officer, effective immediately. In his previous role as Chief Restructuring Officer, Dan led the Scottish Re transition program focused on operational ...
The Student Loan Corporation Remains Committed to Federal Student Lending.
Apr 04, 2009 ... The Student Loan Corporation (SLC) reiterated today its commitment to the Federal Family Education Loan (FFEL) Program and to its mission of providing schools, students, and families with affordable, reliable access to higher education. SLC reaffirmed its dedication in light of ...
Nara Bancorp Announces Suspension of Quarterly Common Stock Dividend.
Apr 04, 2009 ... Nara Bancorp, Inc. (NASDAQ: NARA), the holding company of Nara Bank, announced that its Board of Directors has suspended the CompanyEs quarterly common stock dividend. oGiven the economic downturn and the impact it has had on our level of profitability, the Board determined that ...
A10 Capital Adds Solutions Group and Raises Over $100 Million to Help Banks Resolve Troubled Credits.
Apr 04, 2009 ... A10 Capital, a leading financial services firm specializing in troubled loan workouts and alternative commercial real estate lending, announced the establishment of its Solutions Group to provide loan workout, REO asset management and other related services to banks with troubled credits ....
Hallmark Financial Services Files Preliminary Proxy Statement to Elect its Nominees to the Board of Directors of Specialty Underwriters' Alliance.
Apr 04, 2009 ... Hallmark Financial Services, Inc. (NASDAQ:HALL) announced that it has filed with the U.S. Securities and Exchange Commission a preliminary proxy statement in connection with its nomination of independent directors to replace three members of the board of directors of Specialty ...
SmartyPig.com Integrates With Money Management Sites.
Apr 04, 2009 ... SXSW - SmartyPig (http://www.smartypig.com/), the leader in the social banking space, announced the launch of its OFX Solution, enabling customers to add their SmartyPig accounts into their preferred money management sites. Supported by Access Softek, an industry leader in OFX technology, ...
Calyx Software Releases Point and Point Central Version 7.0.
Apr 04, 2009 ... Calyx[R] Software[R], a provider of loan marketing, originating, processing and banking software, announced at the MBA Tech Conference the release of Point[R] and Point CentralO versions 7.0. Point version 7.0 provides a number of new capabilities to improve workflow and ...
Citi Board Nominates Four New Independent Directors for Shareholder Approval.
Apr 04, 2009 ... CitiEs Board of Directors announced that it has nominated four new independent director candidates to be voted on at CitiEs annual shareholder meeting on April 21, 2009. The candidates are Jerry A. Grundhofer, Michael E. OENeill, Anthony M. Santomero Ph.D., and William S. Thompson, Jr. ...
QuoteMedia Develops Quotestream "Extended Hours Edition" for Midnight Trader.
Apr 04, 2009 ... QuoteMedia, Inc. (OTCBB: QMCI) announced an agreement to provide a custom-developed version of QuotestreamO to Midnight Trader, a recognized expert in extended-hours equity market news and analysis. Under the terms of the agreement, QuoteMedia will integrate Midnight TraderEs ...
FUQI International Announces Preliminary 2008 Fourth Quarter Financial Results.(Financial report)
Apr 04, 2009 ... FUQI International, Inc. (NASDAQ:FUQI) announced preliminary financial results for the fourth quarter ended December 31, 2008. The Company will host a conference call to discuss its fourth quarter and full year 2008 financial results in the last week of March 2009. Once the earnings date ...
Shadow Financial Systems Leverages FINCAD Analytics to Extend Its Derivative Coverage.
Apr 04, 2009 ... FINCAD and Shadow Financial Systems announced that Shadow Financial has joined the FINCAD Alliance Program. This agreement enables users of Shadow Financial's ShadowSuite application to leverage FINCAD's industry standard derivative pricing library to independently value derivative ...
Two AmeriServ Leaders Promoted to Executive Vice President.
Apr 04, 2009 ... Two AmeriServ Financial (NASDAQ:ASRV) leaders were recently promoted to Executive Vice President for their significant contributions to the bank's improved financial performance over the past several years. Promoted to Executive Vice President were Chief Financial Officer Jeffrey Stopko, ...
Ladenburg Thalmann Reports Fourth Quarter and Full Year 2008 Results.
Apr 04, 2009 ... Ladenburg Thalmann Financial Services Inc. (AMEX: LTS) announced financial results for the fourth quarter and full year ended December 31, 2008. Fourth Quarter 2008 Fourth quarter 2008 revenues were $35.7 million, a 30% decrease from revenues of $50.9 million in the fourth quarter of 2007 ....
X-Rite Announces Fourth Quarter and Fiscal Year 2008 Financial Results.(Financial report)
Apr 04, 2009 ... X-Rite, Incorporated (NASDAQ:XRIT) announced its fourth quarter and full year 2008 financial results. Highlights of todayEs announcement: Fourth quarter and full year 2008 sales of $60.8 million and $261.5 million, respectively Initial customer shipments and positive customer ...
Alabama Aircraft Industries, Inc. Announces Plan to Delist from Nasdaq and Deregister Its Common Stock.
Apr 04, 2009 ... Alabama Aircraft Industries, Inc. (NASDAQ: AAII), (the oCompanyo) announced that it has submitted written notice to the NASDAQ Stock Market LLC (oNASDAQo) of its intention to delist its common stock from NASDAQ, where it currently trades on NASDAQEs Global Market. The Company intends to ...
FASB Issues Proposals to Improve Guidance on Fair Value Measurements and Impairments.
Apr 04, 2009 ... The FASB issued two proposed staff positions (FSPs) intended to provide additional application guidance regarding fair value measurements and impairments of securities. Proposed FSP FAS 157-e, Determining Whether a Market Is Not Active and a Transaction Is Not Distressed, provides ...
BioMed Realty Trust Declares First Quarter 2009 Common Stock and Preferred Stock Dividends.
Apr 04, 2009 ... BioMed Realty Trust, Inc. (NYSE:BMR) announced that its board of directors has declared a first quarter 2009 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 ...
Hudson Appoints General Counsel.
Apr 04, 2009 ... Hudson Holding Corporation (BULLETIN BOARD: HDHL) , the parent of Hudson Securities, Inc., a registered broker-dealer that meets the liquidity needs of broker dealers, institutions, hedge funds and asset managers, announced that Andrew E. Lewin has joined the firm as General Counsel. Mr ....
SS&C Technologies Announces 2008 Fourth Quarter and Year End Results.(Financial report)
Apr 04, 2009 ... SS&C Technologies, Inc.(www.ssctech.com), a global provider of financial services software and outsourcing solutions, announced financial results for the fourth quarter and full year ended December 31, 2008. Revenue for the fourth quarter and the year 2008 was $68.3 million and $280.0 ...
Pulaski Financial Announces Appointment of New Chief Financial Officer.
Apr 04, 2009 ... Pulaski Financial Corp. (Nasdaq GS: PULB) (the oCompanyo), the holding company for Pulaski Bank, announced that Paul J. Milano has been named Interim Chief Financial Officer of the Company and the Bank, effective on April 1, 2009, following Ramsey K. HamadiEs resignation to become the ...
A.M. Best Assign Ratings to Maiden Reinsurance Company.
Apr 04, 2009 ... A.M. Best Co. has assigned a financial strength rating (FSR) of A- (Excellent) and issuer credit rating (ICR) of oa-o to Maiden Reinsurance Company (Maiden Reinsurance) (Maryland Heights, MO) following receipt of the approved intercompany quota share reinsurance agreement with its ...
You Can Do It: an Easy Step-by-Step Guide to Financial Security.
Apr 04, 2009 ... Economies and markets around the world are performing abysmally. The declines in the stock market in the US on an annual basis are the worst since the 1930s. Without a doubt, although precarious, taking control of oneEs financial security is even more important than ever. Yet what can the ...
TowerGroup: Noncash Person-to-Person Market Reaches $1.1 Trillion in 2008, Driven by Check Payments.(Report)
Apr 04, 2009 ... New research from TowerGroup finds that the gross dollar volume (GDV) of the U.S. noncash person-to-person (P2P) market in 2008 was $1.1 trillion. Checks are in decline, but they remain the most significant payment method, amounting to over $1 trillion of the noncash P2P payments volume. ...
Anpath Group, Inc. Announces Intent To Seek Shareholder Approval for a Reverse Split of Its Common Stock.
Apr 04, 2009 ... Anpath Group, Inc. (BULLETIN BOARD: ANPG) , reported that it plans to seek shareholder approval for a reverse split of its Common Stock, which it currently anticipates will be in the range of a 1 for 7 split. If the reverse stock split is approved, each holder of Anpath's Common Stock on ...
Carlson Appoints Gregory Byrnes as Senior Vice President, Corporate Development.
Apr 04, 2009 ... Minneapolis-based Carlson has appointed Gregory Byrnes senior vice president, Corporate Development. Byrnes will have overall responsibility for leading the company's strategic efforts in the areas of mergers/acquisitions, alliances, and joint ventures. An ...
Irwin Financial Corporation Announces Filing of Form 12b-25 to Extend Form 10-K Due Date.(Report)
Apr 04, 2009 ... Irwin Financial Corporation (NYSE:IFC) announced that it has filed a Form 12b-25 with the Securities and Exchange Commission relating to its Annual Report on Form 10-K for the fiscal year ended December 31, 2008. The Company stated that it has requested guidance from the SEC staff ...