Debt Consolidation News May 2009
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Savvy Consumer: Graduates have options on repaying student loans
Programs can reduce payments or eliminate sizable portions of college debt. (Fri, 01 May 2009 02:39:16 GMT)
Unemployed fight an uphill battle
It’s only been 14 weeks since Kerri Hudgens of Midwest City lost her job. But to her, it feels terribly long."I’ve had a little trouble staying positive and up,” said Hudgens, who is 50 and single with a 15-year-old daughter. "It’s especially hard watching my savings account dwindle to half and trying to gauge how long I should wait before I put my house on the market.” Bills for unexpected car ... (Sun, 03 May 2009 05:02:42 GMT)
OU Realigns To Tackle Recession
Fred Goldberg says he saw the writing on the wall late last year when the small computer company he worked for in New York instituted a 20 percent pay cut. (Sun, 03 May 2009 05:05:54 GMT)
Tips to Get Out of Debt and Avoid Bankruptcy
(ARA) - Facing the most difficult economic conditions in decades, many Americans are sobering up to the fact that they're deeply in debt. (Sun, 03 May 2009 06:18:16 GMT)
Simple Steps to Achieve a Better Credit Score
(ARA) - You have plans for your family and future . . . maybe a new house, or a new car to replace the worn-out model you've been driving since your college days. Perhaps you're looking way into the future to when your children are heading off to college, creating a need for loans and financing? (Sun, 03 May 2009 12:10:04 GMT)
GET WITH THE PLAN: Couple need to shed debt
Debt is weighing heavily on Norma and Pete. Not only do they have a mortgage, but the couple have more than $26,000 in credit card debt from home renovations, more than $24,000 in business loan obligations from a failed business,... (Sun, 03 May 2009 17:18:25 GMT)
Obama plans to boost higher education grants
WASHINGTON -- President Barack Obama's health-care goals may be garnering attention, but his higher education proposals are no less ambitious. If adopted, they could transform the financial aid (Mon, 04 May 2009 03:02:09 GMT)
Proposals Would Transform College Aid
President Obama's health-care goals may be garnering attention, but his higher-education proposals are no less ambitious. (Mon, 04 May 2009 04:00:00 GMT)
Fiat in talks over GM Europe move
Italy's Fiat is in talks to buy the European business of General Motors - which includes Vauxhall and Opel. (Mon, 04 May 2009 07:31:04 GMT)
Simple Steps to Achieve a Better Credit Score
(ARA) - You have plans for your family and future . . . maybe a new house, or a new car to replace the worn-out model you've been driving since your college days. Perhaps you're looking way into the future to when your children are heading off to college, creating a need for loans and financing? (Mon, 04 May 2009 09:16:40 GMT)
Organize Debt Consolidation Quickly and Easily
(ARA) - Until recently, Ken Goins of Woodland Hills, Calif. was like most Americans -- he carried a balance on several credit cards. The weight of the balance became heavier and heavier, and Goins just wanted to end his debt. (Mon, 04 May 2009 09:46:45 GMT)
CLO managers struggle for survival as fee-income waterfall dries to a trickle
This article is provided to FT.com readers by Debtwire —the most informed news service available for financial professionals in fixed income markets across the world. (Mon, 04 May 2009 14:31:34 GMT)
Obama College Loan Plan Is Controversial
President Obama's health-care goals may be garnering attention, but his higher-education proposals are no less ambitious, Washington Post reports. (Mon, 04 May 2009 18:30:03 GMT)
BWAY Holding Company Announces Strong Second Quarter Fiscal 2009 Earnings Results and Increases Annual Guidance
BWAY Holding Company , a leading North American supplier of general line rigid containers, today reported net income for the second quarter of fiscal 2009 of $8.7 million, or $0.38 per diluted share, compared to net income of $1.1 million or $0.05 per diluted share for the second quarter of fiscal 2008. (Mon, 04 May 2009 22:09:00 GMT)
Graduating seniors must be aware of financial debt
With graduation approaching, out going seniors will soon be faced with paying back student loans. Robert Zellers, director of scholarships and financial aid, said while in school, students need to be aware of money. (Tue, 05 May 2009 02:42:43 GMT)
Virgin Media Reports First Quarter 2009 Results
LONDON, May 5, 2009 -- Virgin Media Inc. announces results for the quarter ended March 31, 2009. (Tue, 05 May 2009 07:00:00 GMT)
Student-loan overhaul key to Obama's goals
President Obama's health-care goals may be garnering attention, but his higher-education proposals are no less ambitious. (Tue, 05 May 2009 07:24:13 GMT)
LNB Bancorp, Inc. Reports First Quarter 2009 Results
LORAIN, Ohio----LNB Bancorp, Inc. today reported net income for the three months ended March 31, 2009 of $1,317,000, or $.14 per diluted share, compared with $1,447,000, or $.20 per diluted share reported for the same period a year ago. (Tue, 05 May 2009 11:35:00 GMT)
Momentive Performance Materials Inc. Reports First Quarter 2009 Results
ALBANY, N.Y.----Momentive Performance Materials Inc. today reported its consolidated results for the fiscal three-month period ended March 29, 2009. Highlights include: Net sales of $418.1 million compared to $656.6 million in the fiscal three-month period ended March 30, 2008, a decrease of 36.3%. (Tue, 05 May 2009 12:54:00 GMT)
Simple Steps to Achieve a Better Credit Score
(ARA) - You have plans for your family and future . . . maybe a new house, or a new car to replace the worn-out model you've been driving since your college days. Perhaps you're looking way into the future to when your children are heading off to college, creating a need for loans and financing? (Tue, 05 May 2009 13:07:09 GMT)
NAL Oil & Gas Trust Reports First Quarter 2009 Results- Increases Capital Program and Production Guidance
CALGARY, ALBERTA--(Marketwire - May 5, 2009) - NAL Oil & Gas Trust ("NAL" or the "Trust") (TSX:NAE.UN) today announced its financial and operational results for the first quarter of 2009. All amounts are in Canadian dollars unless otherwise stated. On NAL's first quarter, Mr. Andrew Wiswell stated "Our positive first quarter and actions taken to add opportunities through the Trust's development ... (Tue, 05 May 2009 20:33:55 GMT)
Territory gets out of zircon
IRON ore play Territory Resources is to divest its 73 per cent holding in listed mineral sands miner Olympia Resources as part of a move out of mineral sands. (Tue, 05 May 2009 23:15:00 GMT)
Weather, building slump smack Martin Marietta
Martin Marietta Materials reported a first-quarter loss as the recession and unusually wet weather weakened demand for its products. (Wed, 06 May 2009 06:05:53 GMT)
Debt-management firms to face limits
Lawmakers took a step Tuesday toward regulating the growing number of debt-management agencies offering to help cash-strapped consumers pare their credit-card balances or modify home mortgages or car loans — for a price. (Wed, 06 May 2009 10:16:33 GMT)
RECORDATI : POSITIVE FIRST QUARTER 2009 RESULTS, SALES AND INCOME INCREASE
(ITnews) - (Hugin) - - Consolidated revenue E 183.7 million, + 6.9%. - Pharmaceutical revenue E 176.8 million, + 8.2%. - International sales E 128.2 million, + 11.7%. - Operating income E 40.6 million, + 6.5%. - Net income E 27.6 million, + 9.3%. (Wed, 06 May 2009 10:22:37 GMT)
RECORDATI : POSITIVE FIRST QUARTER 2009 RESULTS, SALES AND INCOME INCREASE
MILAN, ITALY--(Marketwire - May 6, 2009) - - Consolidated revenue EUR 183.7 million, + 6.9%. - Pharmaceutical revenue EUR 176.8 million, + 8.2%. - International sales EUR 128.2 million, + 11.7%. - Operating income EUR 40.6 million, + 6.5%. - Net income EUR 27.6 million, + 9.3%. - Net financial position*: net debt of EUR 85.9 million. - Acquisition of Herbacos-Bofarma in the Czech Republic. - ... (Wed, 06 May 2009 10:32:13 GMT)
Simple Steps to Achieve a Better Credit Score
(ARA) - You have plans for your family and future . . . maybe a new house, or a new car to replace the worn-out model you've been driving since your college days. Perhaps you're looking way into the future to when your children are heading off to college, creating a need for loans and financing? (Wed, 06 May 2009 11:47:00 GMT)
China Pledges Ample Supply of Money to Spur Recovery (Update3)
May 6 (Bloomberg) -- China’s central bank said the economy performed “better than expected” in the first quarter and pledged to keep money flowing into the financial system to sustain growth. (Wed, 06 May 2009 12:13:31 GMT)
Territory to offload mineral sands assets
Iron ore miner Territory Resources is to divest its 73 per cent holding in listed mineral sands miner Olympia Resources as part of a move out of mineral sands. Territory said today the divestment was (Wed, 06 May 2009 15:32:55 GMT)
Escape the crush of student loans
A young professional is so buried in debt that she can't take advantage of an opportunity to save $100,000. MSN Money ombudsman Kathy Kristof shows her how. (Wed, 06 May 2009 18:47:16 GMT)
Senior citizens feel effects of economic conditions
The economy ... the economy ... the economy. That seems to be on everybody's mind these days. Whether it's the stock market drop, the bail-out of banks and whole industries, worries about paying the bills, or finding a job - if you just lost yours - we all wonder what the future holds. (Wed, 06 May 2009 20:12:47 GMT)
Blackstone, Fortress Seek Hedge-Fund Takeovers After Debt Slump
May 7 (Bloomberg) -- Blackstone Group LP and Fortress Investment Group LLC are seeking to take over credit funds from managers unable to support their businesses after the value of investments fell. (Thu, 07 May 2009 05:33:20 GMT)
Simple Steps to Achieve a Better Credit Score
(ARA) - You have plans for your family and future . . . maybe a new house, or a new car to replace the worn-out model you've been driving since your college days. Perhaps you're looking way into the future to when your children are heading off to college, creating a need for loans and financing? (Thu, 07 May 2009 06:20:16 GMT)
PRESS RELEASE: SanomaWSOY: Sanoma's Interim Report 1 Jan-31 March 2009: Focus Now On Improving Efficiency
Interim Report 7/5/2009 11:00 - Sanoma Group's net sales decreased by 6.9% in the first quarter, totalling EUR 636.0 (683.1) million. - Operating profit excluding non-recurring items was EUR 23.2 (49.2) million. Non-recurring items totalled EUR -2.3 (23.5) million. (Thu, 07 May 2009 08:26:27 GMT)
Rebalancing Helped Create This Rally
Pensions and endowments had to sell their winners and buy their losers since 2009 started. As a result, stocks took off. (Thu, 07 May 2009 10:15:17 GMT)
The Impact Of Chrysler's Bankruptcy
Lessons for GM--and for the rest of us. (Thu, 07 May 2009 10:15:37 GMT)
DJ DOKUMENTATION/Einleitende Bemerkungen ... (zwei)
The risks surrounding this outlook are broadly balanced. They relate in particular to the risks to the outlook for economic activity as well as to risks to commodity prices. (Thu, 07 May 2009 13:32:51 GMT)
Blackstone, Fortress Seek Hedge-Fund Takeovers After Debt Slump
May 7 (Bloomberg) -- Blackstone Group LP and Fortress Investment Group LLC are seeking to take over credit funds from managers unable to support their businesses after the value of investments fell. (Thu, 07 May 2009 14:22:20 GMT)
Global auto sector faces big shakeup
The global auto industry headed for a major shakeup Thursday as the boss of Fiat prepared to take charge of foundering US manufacturer Chrysler and German icons Porsche and VW moved toward an alliance. (Thu, 07 May 2009 15:33:10 GMT)
Should You Consolidate Your Student Loans?
Consolidating your student loans offers convenience, but there are drawbacks. (Thu, 07 May 2009 22:31:21 GMT)
Tribal Financial Advisors solve debt-related issues
EL SEGUNDO, Calif. – A week before Dan Lewis attended the National Indian Gaming Association’s annual Indian Gaming Trade Show & Convention in mid-April, he resigned as a senior vice president and national market executive for Bank of America, and joined a new firm called Tribal Financial Advisors. (Fri, 08 May 2009 04:02:40 GMT)
Reviewing Ellen Brown's "Web of Debt:" Part II
In the 1890s, "keeping the family homestead was a key political issue" given that foreclosures and evictions "were occurring in record numbers," much like today. (Fri, 08 May 2009 14:48:08 GMT)
ARCs can pour money into bad loans
The Reserve Bank of India (RBI) has exempted asset reconstruction companies (ARCs) from norms that prevent banks from pouring money into bad loans. (Fri, 08 May 2009 19:52:12 GMT)
After the Stress Tests
On May 7, U.S. regulators released the much-anticipated results of the series of stress tests they had carried out to determine the health of the nation's top nineteen banks. The tests revealed that these banks could suffer losses of up to $599 billion if the economy fares worse than expected. (Fri, 08 May 2009 20:04:38 GMT)
Brampton Brick Reports Results for the First Quarter Ended March 31, 2009
BRAMPTON, ONTARIO--(Marketwire - May 8, 2009) - (All amounts are stated in thousands of Canadian dollars, except per share amounts, unless otherwise indicated.) Brampton Brick Limited (the "Company") (TSX:BBL.A) today reported a loss of $6,256, or $0.57 per Class A Subordinate Voting share ("Class A share") and Class B Multiple Voting share ("Class B share"), for the first quarter ended March ... (Fri, 08 May 2009 21:53:27 GMT)
Organize Debt Consolidation Quickly and Easily
(ARA) - Until recently, Ken Goins of Woodland Hills, Calif. was like most Americans -- he carried a balance on several credit cards. The weight of the balance became heavier and heavier, and Goins just wanted to end his debt. (Sat, 09 May 2009 10:36:31 GMT)
Interim Budget 2009 Speech
Read the entire text of Pranab Mukherjee's Interim Budget speech. 1. I rise to present the Interim Budget for 2009-10. 2. Five years ago the people of India had voted for change. (Sat, 09 May 2009 14:27:08 GMT)
Obama has big plans to expand student aid
WASHINGTON — President Barack Obama's health-care goals may be garnering attention, but his higher education proposals are no less ambitious. (Sun, 10 May 2009 07:16:17 GMT)
Should You Consolidate Your Student Loans?
If you have more than one student loan, you may have heard about or considered consolidating your loans. Consolidating student loans is a process where you take out a new loan which you then use to pay off your other existing student loans. (Sun, 10 May 2009 08:07:08 GMT)
Sinking under credit card debt :Consumers face credit issues but can take steps to overcome it
Open your wallet. (Sun, 10 May 2009 11:09:45 GMT)
Organize Debt Consolidation Quickly and Easily
(ARA) - Until recently, Ken Goins of Woodland Hills, Calif. was like most Americans -- he carried a balance on several credit cards. The weight of the balance became heavier and heavier, and Goins just wanted to end his debt. (Mon, 11 May 2009 07:00:10 GMT)
Brazil Creating ‘Champions’ With $58 Billion Loans: Week Ahead
May 11 (Bloomberg) -- Brazil’s state development bank is financing the biggest acquisitions in the country as other sources of credit dry up, driving a consolidation in the meat, ethanol, paper and telecom industries. (Mon, 11 May 2009 11:59:35 GMT)
Simple Steps to Achieve a Better Credit Score
(ARA) - You have plans for your family and future . . . maybe a new house, or a new car to replace the worn-out model you've been driving since your college days. Perhaps you're looking way into the future to when your children are heading off to college, creating a need for loans and financing? (Mon, 11 May 2009 12:26:04 GMT)
Alesco Financial Inc. Announces First Quarter 2009 Financial Results
Alesco Financial Inc. , a specialty finance real estate investment trust, today announced financial results for the three-months ended March 31, 2009. (Mon, 11 May 2009 12:30:00 GMT)
HSBC hails 'resilient' start to 2009
HSBC, one of the few banks in the world not to be relying on government help, insisted it had made a "resilient" start to 2009 but said there were few green shoots pointing to a turnaround in the battered sector. (Mon, 11 May 2009 12:42:38 GMT)
AltaGas Utility Group Inc. Announces Record First Quarter 2009 Results and a Quarterly Dividend Of $0.05 Per Share
CALGARY, ALBERTA--(Marketwire - May 11, 2009) - AltaGas Utility Group Inc. (Utility Group) (TSX:AUI) today announced that net income for the three months ended March 31, 2009 was $5.7 million (three months ended March 31, 2008 - $4.4 million) or $0.71 per share (three months ended March 31, 2008 - $0.54 per share), an increase of $1.3 million. A dividend of $0.05 per common share payable on July ... (Mon, 11 May 2009 13:12:29 GMT)
Yen Rises on Bets Stock Drop Will Reduce Higher-Yield Demand
May 11 (Bloomberg) -- The yen advanced from a one-month low against the euro on speculation a decrease in stocks will reduce demand for higher-yielding assets. (Mon, 11 May 2009 16:23:43 GMT)
JBS, Marfrig Jump on Brazil Industry Consolidation Speculation
JBS, the world’s biggest beef producer, added 3.6 percent to 6.64 reais at 12:05 p.m. New York time in Sao Paulo trading. Marfrig, the world’s fourth-biggest beef producer, jumped 5.8 percent to 10.92 reais. (Mon, 11 May 2009 18:59:04 GMT)
HSBC warns against talk of economic recovery
HSBC chief executive Michael Geoghegan yesterday warned it was too early to expect to see "green shoots" of economic recovery and cautioned that the restructuring of the banking sector has still to take place. (Mon, 11 May 2009 23:34:28 GMT)
Organize Debt Consolidation Quickly and Easily
(ARA) - Until recently, Ken Goins of Woodland Hills, Calif. was like most Americans -- he carried a balance on several credit cards. The weight of the balance became heavier and heavier, and Goins just wanted to end his debt. (Tue, 12 May 2009 06:41:53 GMT)
Nigeria: Boys in Blue March Into Country
South African micro-financier, Blue Financial Services, has recently added Nigeria to the long list of African countries in which it operates. Jaco Maritz spoke to Morné Reinders , the company's Investor Relations Manager. (Tue, 12 May 2009 09:08:13 GMT)
Newalta Announces First Quarter 2009 Results
Newalta Announces First Quarter 2009 Results (Tue, 12 May 2009 11:10:45 GMT)
ABERTIS ANNUNCIA UN UTILE NETTO DI 122 MILIONI DI EURO NEL PRIMO TRIMESTRE 2009
(ITnews) - (Hugin) - ABERTIS ANNUNCIA UN UTILE NETTO DI 122 MILIONI DI EURO NEL PRIMO TRIMESTRE 2009 I ricavi (che non sono del tutto confrontabili) aumentano del 2,1% mentre l'EBITDA resta stabile in un contesto di grave crisi economica. (Tue, 12 May 2009 11:21:33 GMT)
Despite Tough Economic Conditions, Strong Execution of PEP Program and Strict Balance Sheet Management Set the Pace at ...
BOUCHERVILLE, QUEBEC--(Marketwire - May 12, 2009) - RONA inc. (TSX:RON) FIRST QUARTER HIGHLIGHTS - 7.2% decline in consolidated sales as a result of economic uncertainty and seasonality effect, exacerbated by weather conditions that hampered renovation-construction activities. - Distribution sales up 0.2% through recruitment of new dealer-owners. - Higher sales to commercial and professional ... (Tue, 12 May 2009 12:43:18 GMT)
Primus Said to Purchase Investment Firm CypressTree (Update1)
May 12 (Bloomberg) -- Primus Guaranty Ltd. agreed to buy CypressTree Investment Management, which manages $2.4 billion of leveraged loans, according to people familiar with the situation. (Tue, 12 May 2009 16:37:33 GMT)
Primus to Purchase Leveraged Loan Manager CypressTree (Update1)
May 12 (Bloomberg) -- Primus Guaranty Ltd. agreed to buy CypressTree Investment Management LLP, which manages $2.4 billion of leveraged loans. Primus, led by Chief Executive Officer Thomas Jasper , will manage a total of $25 billion in structured securities and credit-default swaps after the acquisition, the Hamilton, Bermuda-based firm said today in a statement. (Tue, 12 May 2009 16:52:02 GMT)
Bulgari Reports First Quarterly Loss Since 1999 (Update1)
May 12 (Bloomberg) -- Bulgari SpA , the world’s third- largest jeweler, reported its first quarterly loss in a decade after demand plummeted for Assioma watches and Allegra jewelry and the company lost money on currency-hedging transactions. (Tue, 12 May 2009 19:15:18 GMT)
Money 911: Budgeting your kids' education
TODAY’s financial editor Jean Chatzky, CNBC personal finance correspondent Sharon Epperson and CNBC’s On the Money anchor Carmen Wong Ulrich offer viewers smart financial advice. (Tue, 12 May 2009 23:28:43 GMT)
Pure Energy Services Ltd. Announces Results for the Quarter Ended March 31, 2009
CALGARY, ALBERTA--(Marketwire - May 12, 2009) - Pure Energy Services Ltd. (TSX:PSV) /T/ Selected Consolidated Financial Information ---------------------------------------------------------------------------- Three months ended March 31, ($ thousands, except per share amounts) (unaudited) 2009 2008 (restated) ---------------------------------------------------------------------------- R (Wed, 13 May 2009 01:07:57 GMT)
At A Glance
Lenders boost loan modifications Lenders participating in President Barack Obama's Making Home Affordable foreclosure rescue plan have modified tens of thousands of loans. (Wed, 13 May 2009 02:00:14 GMT)
At A Glance
Lenders boost loan modificationsLenders participating in President Barack Obama's Making Home Affordable foreclosure rescue plan have modified tens of thousands of loans. (Wed, 13 May 2009 02:06:43 GMT)
Organize Debt Consolidation Quickly and Easily
(ARA) - Until recently, Ken Goins of Woodland Hills, Calif. was like most Americans -- he carried a balance on several credit cards. The weight of the balance became heavier and heavier, and Goins just wanted to end his debt. (Wed, 13 May 2009 17:47:08 GMT)
GM, Chrysler to cut up to 3,000 dealers: sources
General Motors Corp and Chrysler aim to drop as many as 3,000 U.S. dealers and are expected to begin sending notifications as early as Thursday, three people briefed on the still developing plans said. (Wed, 13 May 2009 20:44:24 GMT)
CA Reports Strong Full Fiscal Year 2009 Results
Meets or Exceeds Outlook for Revenue, Bookings, EPS and Cash Flow From Operations ISLANDIA, N.Y., May 13 /PRNewswire-FirstCall/ -- Full year non-GAAP earnings per share up 30 percent to $1.55; GAAP earnings per share up 39 percent to $1.29Full year revenue up 1 percent in constant currency to $4.271 billion, flat as reportedFull year cash flow from operations up 10 percent to $1.212 ... (Wed, 13 May 2009 23:12:45 GMT)
Simple Steps to Achieve a Better Credit Score
(ARA) - You have plans for your family and future . . . maybe a new house, or a new car to replace the worn-out model you've been driving since your college days. Perhaps you're looking way into the future to when your children are heading off to college, creating a need for loans and financing? (Thu, 14 May 2009 06:41:55 GMT)
District considers debt prepayment
With lawsuit payouts lower than anticipated, the San Mateo Union High School District will consider prepaying $7.5 million toward an $80 million consolidation loan it took out in 2007. (Thu, 14 May 2009 07:34:46 GMT)
Retire student loan before you retire
School debt is forgiven in only some instances, so it's best to plan on repaying it instead. (Thu, 14 May 2009 10:00:00 GMT)
Retire student loan before retiring
Dear Debt Adviser, I am 56 years old and have about $80,000 in student loans from my master's degree, which I completed about eight years ago. The monthly payments are a huge pain now but will be impossible when I stop working. Is there any way to get the balance forgiven by being a senior citizen? (Thu, 14 May 2009 11:43:26 GMT)
Card companies help those buried in debt
GENESEE COUNTY, Michigan -- Maybe you've lost your job or have taken a big pay cut. And those credit card bills that were once manageable have become a big headache. Or you're late on payments or missing them altogether... (Thu, 14 May 2009 14:34:26 GMT)
Simple Steps to Achieve a Better Credit Score
(ARA) - You have plans for your family and future . . . maybe a new house, or a new car to replace the worn-out model you've been driving since your college days. Perhaps you're looking way into the future to when your children are heading off to college, creating a need for loans and financing? (Thu, 14 May 2009 18:46:35 GMT)
Organize Debt Consolidation Quickly and Easily
(ARA) - Until recently, Ken Goins of Woodland Hills, Calif. was like most Americans -- he carried a balance on several credit cards. The weight of the balance became heavier and heavier, and Goins just wanted to end his debt. (Thu, 14 May 2009 19:16:40 GMT)
Chrysler to terminate U.S. dealers, Ford on track
Chrysler LLC notified all U.S. dealers on Thursday about its plans to eliminate 25 percent of its retail showrooms while rival Ford Motor Co assured investors it is on track to at least break even in 2011 without seeking any U.S. government aid. (Thu, 14 May 2009 19:52:18 GMT)
U.S. Stocks Advance as Libor, CA Earnings Temper Jobless Claims
May 14 (Bloomberg) -- U.S. stocks advanced, snapping a three-day losing streak for the Standard & Poor’s 500 Index, as a decrease in bank borrowing costs and better-than-estimated earnings at CA Inc. overshadowed jump in jobless claims. (Thu, 14 May 2009 21:21:55 GMT)
Lawyer Sees First Amendment Problem In Financial Woes
Wrote FCC warning of what he says is a 'First Amendment Perfect... (Fri, 15 May 2009 00:06:23 GMT)
Organize Debt Consolidation Quickly and Easily
(ARA) - Until recently, Ken Goins of Woodland Hills, Calif. was like most Americans -- he carried a balance on several credit cards. The weight of the balance became heavier and heavier, and Goins just wanted to end his debt. (Fri, 15 May 2009 06:19:54 GMT)
GM Starts Notifying 1,100 U.S. Dealers to Be Closed (Update4)
May 15 (Bloomberg) -- General Motors Corp. , facing a probable bankruptcy filing by June 1, is telling 1,100 “underperforming” U.S. dealers they will be terminated as the automaker starts shrinking its retail network. (Fri, 15 May 2009 22:21:46 GMT)
GM to drop one in six dealers in the U.S.
The move could spark a political backlash as thousands of sales staff are laid off in communities across the country. More than 13,000 jobs at Canadian dealers are also at risk (Sat, 16 May 2009 00:48:00 GMT)
Don't Refinance More Than You Can Handle
Q: With mortgage rates at record lows, I'm thinking of refinancing my 30-year, fixed-rate loan. The lender is recommending that I roll into the refi amount the balances I owe on my car and two credit cards. The advantages would be that they would be paid off, the interest rate would be lower than I'm paying on them and the interest would be tax-deductible. (Sat, 16 May 2009 01:22:27 GMT)
Tree Island Announces First Quarter 2009 Results
VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 15, 2009) - Tree Island Wire Income Fund (TSX:TIL.UN) will hold a conference call and webcast to discuss its first quarter 2009 financial results on Tuesday, May 19, 2009 at 8:00 am Pacific Time (11:00 am Eastern). The call can be accessed by dialing: 1-800-766-6630 or 416-641-6117. A replay will be available through June 3, 2009 at: 1-800-408-3053 ... (Sat, 16 May 2009 01:50:22 GMT)
GM to cut 1,100 dealers
In moving to eliminate 1,100 underperforming dealerships by late next year, General Motors Corp. on Friday sent a message to bondholders and the United Auto Workers that all stakeholders are being asked to make sacrifices, industry experts said. (Sat, 16 May 2009 05:23:02 GMT)
Organize Debt Consolidation Quickly and Easily
(ARA) - Until recently, Ken Goins of Woodland Hills, Calif. was like most Americans -- he carried a balance on several credit cards. The weight of the balance became heavier and heavier, and Goins just wanted to end his debt. (Sat, 16 May 2009 10:21:28 GMT)
Simple Steps to Achieve a Better Credit Score
(ARA) - You have plans for your family and future . . . maybe a new house, or a new car to replace the worn-out model you've been driving since your college days. Perhaps you're looking way into the future to when your children are heading off to college, creating a need for loans and financing? (Sat, 16 May 2009 10:44:06 GMT)
GM to drop one in six dealers in the U.S.
The move could spark a political backlash as thousands of sales staff are laid off in communities across the country. More than 13,000 jobs at Canadian dealers are also at risk (Sat, 16 May 2009 12:17:42 GMT)
Simple Steps to Achieve a Better Credit Score
(ARA) - You have plans for your family and future . . . maybe a new house, or a new car to replace the worn-out model you've been driving since your college days. Perhaps you're looking way into the future to when your children are heading off to college, creating a need for loans and financing? (Sat, 16 May 2009 14:46:29 GMT)
US-BUSINESS Summary
Stocks may brake for housing, Home Depot (Sat, 16 May 2009 16:24:49 GMT)
Tips to Get Out of Debt and Avoid Bankruptcy
(ARA) - Facing the most difficult economic conditions in decades, many Americans are sobering up to the fact that they're deeply in debt. (Sun, 17 May 2009 06:21:10 GMT)
Fiat's new prospects dazzle Italy
Once-struggling automaker has transformed itself from bit player into global titan in auto industry. (Sun, 17 May 2009 06:54:13 GMT)
Questions and answers with Chuck Barber of Barber Brothers
Chuck Barber, 60, partner and co-founder of Barber Brothers in Orem, has survived the tumultuous days of gas rationing and skyrocketing gas prices in the wake of the 1973 oil crisis to a dramatic slowdown in sales in the aftermath of the Sept. 11, 2001 terrorist attacks. So far, his dealership, along with many others in Utah, has survived the unprecedented slowdown in sales since the recession ... (Sun, 17 May 2009 07:07:52 GMT)
It may be time to consolidate student loans
With new repayment plans and lower interest rates on the horizon, now is a good time to consider consolidating student loans. (Sun, 17 May 2009 07:16:08 GMT)
Organize Debt Consolidation Quickly and Easily
(ARA) - Until recently, Ken Goins of Woodland Hills, Calif. was like most Americans -- he carried a balance on several credit cards. The weight of the balance became heavier and heavier, and Goins just wanted to end his debt. (Sun, 17 May 2009 07:56:41 GMT)
Going public fueled Wall Street bonuses
SAN FRANCISCO -- Just after Labor Day, investment-bank executives huddle with their compensation advisers for the all-important bonus discussion. Bonuses are the lifeblood of Wall Street, helping bankers and traders buy expensive homes, art and cars. (Sun, 17 May 2009 10:20:58 GMT)
Dealers stay mum on GM message
No Livingston County auto dealerships contacted last week wanted to comment on whether they received word from General Motors Corp. that they would be among 1,100 dealers set to be cut from its network. (Mon, 18 May 2009 09:05:42 GMT)
United Fuel & Energy Reports First Quarter 2009 Results
United Fuel & Energy Corporation , a leading distributor of gasoline, diesel and lubricant products to customers in the southwestern and south central U.S. today announced its financial and operational results for the three months ended March 31, 2009. (Mon, 18 May 2009 11:00:00 GMT)
Treasuries Gain on Speculation Economic Recovery Petering Out
May 18 (Bloomberg) -- Treasuries rose, extending last week’s gains, as investors sought the relative safety of U.S. debt amid speculation the economic recovery is faltering. (Mon, 18 May 2009 12:38:36 GMT)
State Street takes $3.7B loss on conduits
State Street Corp., one of the world’s largest custodians of assets for financial institutions, said it will take a one-time, after-tax loss of $3.7 billion when it brings assets from its troubled commercial paper program onto the Boston company’s balance sheet. (STT) (Mon, 18 May 2009 12:58:17 GMT)
WHX Corporation Reports Financial Results for the First Quarter of 2009, and Analyst Call on 5/19 at 8:30 am ET
WHX Corporation ; today reported financial results for the first quarter ended March 31, 2009. The Company also announced that it will hold an earnings call on Tuesday, May 19, 2009 at 8:30 am Eastern Time. (Mon, 18 May 2009 13:00:00 GMT)
Treasuries Gain on Speculation Economic Recovery Petering Out
May 18 (Bloomberg) -- Treasuries rose, extending last week’s gains, as investors sought the relative safety of U.S. debt amid speculation the economic recovery is faltering. (Mon, 18 May 2009 13:37:28 GMT)
China Biologic Products Announces Strong First Quarter 2009 Results
China Biologic Products, Inc. , one of the leading plasma-based pharmaceutical companies in the People's Republic of China , reported strong financial results for the first quarter of 2009. (Mon, 18 May 2009 14:05:00 GMT)
FASB Rule Will Force Banks to Move Assets Onto Books (Update1)
May 18 (Bloomberg) -- Citigroup Inc. and JPMorgan Chase & Co. will be required starting next year to add billions of dollars of assets and liabilities to their balance sheets under rules approved by the Financial Accounting Standards Board. (Mon, 18 May 2009 19:37:01 GMT)
State Street to Raise Capital After $3.7 Billion Loss (Update2)
May 18 (Bloomberg) -- State Street Corp. , the world’s third-largest custody bank, sold $2 billion in stock after taking a $3.7 billion loss on fixed-income investments. (Tue, 19 May 2009 05:56:14 GMT)
European, Asian Stocks, U.S. Index Futures Gain; Banks Climb
May 19 (Bloomberg) -- European and Asian stocks and U.S. futures rose as oil climbed and speculation three American banks will repay a combined $45 billion of government funds fueled optimism the worst of the financial crisis is over. (Tue, 19 May 2009 11:23:08 GMT)
European, Asian Stocks, U.S. Index Futures Gain; Banks Climb
May 19 (Bloomberg) -- European and Asian stocks and U.S. futures rose as falling bank lending rates and a bigger-than- forecast increase in German investor confidence added to speculation the worst of the economic slump may be over. (Tue, 19 May 2009 13:07:02 GMT)
European Stocks Gain for Fourth Day; Deutsche Bank, BHP Climb
May 19 (Bloomberg) -- European stocks rose for a fourth day as falling bank lending rates and a bigger-than-forecast increase in German investor confidence added to speculation the worst of the economic slump may be over. (Tue, 19 May 2009 13:37:08 GMT)
Programs seek to forgive student loans
While graduation might provide relief from papers and exams, it comes with financial stress all its own. With jobs largely unavailable, graduates may face continued financial dependence, as well as the ever-present threat of student loan repayment. (Tue, 19 May 2009 15:25:04 GMT)
European Stocks Gain for Fourth Day; Deutsche Bank, BHP Climb
May 19 (Bloomberg) -- European stocks rose for a fourth day as falling bank lending rates and a bigger-than-forecast increase in German investor confidence added to speculation the worst of the economic slump may be over. (Tue, 19 May 2009 15:52:59 GMT)
European Stocks Climb to Four-Month High; Deutsche Bank Gains
May 19 (Bloomberg) -- Europe’s Dow Jones Stoxx 600 Index climbed to a four-month high as falling bank lending rates and a bigger-than-forecast increase in German investor confidence added to speculation the worst of the recession may be over. (Tue, 19 May 2009 16:52:14 GMT)
S&P sees Russia banks with massive credit losses
MOSCOW, May 19 (Reuters) - Problem loans could soar to 35-50 percent of total lending in Russia, Ukraine and Kazakhstan, though actual loan losses will be no more than half that level in Russia, Standard & Poor's said on Tuesday. (Tue, 19 May 2009 18:02:06 GMT)
S&P sees Russia banks with massive credit losses
MOSCOW, May 19 (Reuters) - Problem loans could soar to 35-50 percent of total lending in Russia, Ukraine and Kazakhstan, though actual loan losses will be no more than half that level in Russia, Standard & Poor's said on Tuesday. (Tue, 19 May 2009 18:02:06 GMT)
(AFX UK Focus) 2009-05-19 19:17 S&P sees Russia banks with massive credit losses
MOSCOW, May 19 (Reuters) - Problem loans could soar to 35-50 percent of total lending in Russia, Ukraine and Kazakhstan, though actual loan losses will be no more than half that level in Russia, Standard & Poor's said on Tuesday. Russian banks are suffering from a rapidly deteriorating economy and declining asset quality which threaten to consume profits and capital. State-run Sberbank and VTB ... (Tue, 19 May 2009 18:47:06 GMT)
Baosteel gears up for 20b yuan bond float
Baosteel, China's leading steelmaker, has obtained approval to raise up to 20 billion yuan ($2.93 billion) in new capital in a bond issue to help trim its debt servicing costs. (Wed, 20 May 2009 02:30:50 GMT)
Simple Steps to Achieve a Better Credit Score
(ARA) - You have plans for your family and future . . . maybe a new house, or a new car to replace the worn-out model you've been driving since your college days. Perhaps you're looking way into the future to when your children are heading off to college, creating a need for loans and financing? (Wed, 20 May 2009 07:32:13 GMT)
THE MALL OFFERS FINANCIAL FLEXIBILITY TO ITS RETAIL CUSTOMERS IN PARTNERSHIP WITH CITI ADVANCE
Citi and The Mall Group have further cemented their partnership with the launch of Citi M Personal Loan and through Citi Advance, a recently launched Consumer Finance brand of Citi in Thailand The fin (Wed, 20 May 2009 08:07:03 GMT)
Columbus McKinnon Reports Fiscal 2009 Year-end and Fourth Quarter Results and Announces Facility Consolidation Plans
Net loss of $102.5 million for the quarter and $78.4 million for the year results from share price related goodwill impairment charge of $107.0 million (Wed, 20 May 2009 11:30:00 GMT)
BofA CEO Lewis: Industry consolidating, but not us
CHARLOTTE, N.C. (AP) - Bank of America Corp.'s chief executive Ken Lewis expects consolidation in the banking industry to pick up as the economy stabilizes, but says his bank won't be participating. (Wed, 20 May 2009 16:35:16 GMT)
Gov’t local, foreign borrowings up 23.4%
The government has reported a 23.4-percent increase in its borrowings in the first four months of the year, as expenditures rose due to economic pump-priming efforts. (Wed, 20 May 2009 21:38:09 GMT)
Organize Debt Consolidation Quickly and Easily
(ARA) - Until recently, Ken Goins of Woodland Hills, Calif. was like most Americans -- he carried a balance on several credit cards. The weight of the balance became heavier and heavier, and Goins just wanted to end his debt. (Thu, 21 May 2009 07:25:04 GMT)
Simple Steps to Achieve a Better Credit Score
(ARA) - You have plans for your family and future . . . maybe a new house, or a new car to replace the worn-out model you've been driving since your college days. Perhaps you're looking way into the future to when your children are heading off to college, creating a need for loans and financing? (Thu, 21 May 2009 10:19:21 GMT)
Bank Watch (May 17-23): Feds Come Down on Chicago Area CRE Lender
First Mutual Bancorp of Illinois Inc., a Harvey, IL-based bank holding company that owns and controls Mutual Bank also in Harvey, entered into a written agreement with the Federal Reserve Bank of Chicago to maintain financial soundness. Among other... (Thu, 21 May 2009 12:06:31 GMT)
(AFX UK Focus) 2009-05-21 18:30 RLPC-Ferrovial to unite loans in 3.3 bln euro refinancing
LONDON, May 21 (Reuters) - Spanish building and services group Grupo Ferrovial is talking to banks about a 3.3 billion euro loan refinancing that will consolidate existing loans into one facility, banking sources said on Thursday. Grupo Ferrovial is refinancing several loans, including a 1.85 billion pounds ($2.84 billion) loan that financed Ferrovial Infraestructuras' equity contribution in its ... (Thu, 21 May 2009 18:01:52 GMT)
Universal Corporation Announces 17% Increase in Per Share Results
- (Thu, 21 May 2009 20:00:00 GMT)
Green Plains buys former VeraSun ethanol plants
Green Plains Renewable Energy purchases two ethanol plants in Nebraska, formerly run by now-bankrupt VeraSun, in what is expected to be a wave of consolidation in the U.S. ethanol business. (Thu, 21 May 2009 20:22:33 GMT)
Andreas Whittam Smith: A reality check bursts the bubble of optimism
Very early in the day, financial markets are playing a role in the general election due to take place within a year. They have sent a warning. If the winning party fails to reduce the level of government debt more sharply than is currently planned, then the cost of borrowing would rise. That means that either taxes would have to go up or government spending would have to be cut to pay the ... (Fri, 22 May 2009 00:09:04 GMT)
Wells Fargo CEO on the hot seat
John Stumpf may not have realized that he was taking on one of the toughest jobs in corporate America when he agreed to become Wells Fargo's new chief executive officer in June 2007. (Fri, 22 May 2009 02:29:00 GMT)
Fraud schemes tend to follow economic trends
With fraud making news seemingly every day, it's important to avoid get-rich-quick schemes, refuse desperation deals, protect personal financial information and research financial decisions. (Fri, 22 May 2009 06:04:54 GMT)
Africa: New Projects Keep Mining Lively
Johannesburg — AFRICA's mining sector continues to be active with new projects in the pipeline and investment interest from China, India and Brazil, despite the economic slowdown and collapse in commodities prices since last October. (Fri, 22 May 2009 08:03:10 GMT)
Computer Modelling Group Announces Record Year End Results
CALGARY, ALBERTA--(Marketwire - May 22, 2009) - Computer Modelling Group Ltd. ("CMG" or the "Company") (TSX:CMG) is pleased to report record financial results for the fiscal year ended March 31, 2009 which surpass all previous records. /T/ ---------------------------------------------------------------------------- $thousands, unless otherwise noted For the years ended March 31, 2008 2009 Change ... (Fri, 22 May 2009 12:04:16 GMT)
More Economy Pages
The Obama Administration is abusing bankruptcy law to benefit a favored constituency, the United Auto Workers union. This threatens serious consequences. (Fri, 22 May 2009 15:05:23 GMT)
Temecula Valley Bancorp Reports First Quarter 2009 Results
TEMECULA, Calif.----Temecula Valley Bancorp Inc. , today reported a net loss of $36.2 million, or $3.61 per share, for the three months ended March 31, 2009, compared to net earnings of $1.5 million, or $0.14 per share for the same period of 2008. (Sat, 23 May 2009 00:44:00 GMT)
Most loans 'for debt consolidation'
More than half of borrowers who take out a personal loan do so to consolidate existing debts, research has shown. (Sat, 23 May 2009 02:41:54 GMT)
Simple Steps to Achieve a Better Credit Score
(ARA) - You have plans for your family and future . . . maybe a new house, or a new car to replace the worn-out model you've been driving since your college days. Perhaps you're looking way into the future to when your children are heading off to college, creating a need for loans and financing? (Sat, 23 May 2009 14:32:14 GMT)
Simple Steps to Achieve a Better Credit Score
(ARA) - You have plans for your family and future . . . maybe a new house, or a new car to replace the worn-out model you've been driving since your college days. Perhaps you're looking way into the future to when your children are heading off to college, creating a need for loans and financing? (Sun, 24 May 2009 06:19:52 GMT)
Debt load led mall owner to bankruptcy
But shopping centers should stay open (Sun, 24 May 2009 12:03:26 GMT)
Tips to Get Out of Debt and Avoid Bankruptcy
(ARA) - Facing the most difficult economic conditions in decades, many Americans are sobering up to the fact that they're deeply in debt. (Mon, 25 May 2009 06:46:25 GMT)
Simple Steps to Achieve a Better Credit Score
(ARA) - You have plans for your family and future . . . maybe a new house, or a new car to replace the worn-out model you've been driving since your college days. Perhaps you're looking way into the future to when your children are heading off to college, creating a need for loans and financing? (Mon, 25 May 2009 10:34:25 GMT)
Greece: 2009 Article IV Consultation Concluding Statement of the Mission
After years of strong growth, the Greek economy is entering a downturn. During the upswing, per-capita incomes approached the euro-area average. This occurred in an unusually benign global environment with ample liquidity and low interest rates. (Mon, 25 May 2009 13:58:59 GMT)
New Wave of Defaults Looms
26 May 2009 Reuters Evaporating profits at highly leveraged Russian companies could soon present foreign bondholders with a painful choice: debt restructuring or default. (Mon, 25 May 2009 21:58:31 GMT)
COMSTAR - United Telesystems OJSC Financial Results for the First Quarter of 2009
MOSCOW----"COMSTAR - United TeleSystems" OJSC , the largest integrated telecommunications provider in Moscow and 69 Russian cities, today announced its unaudited consolidated US GAAP1 financial results for the three months ended March 31, 2009. (Tue, 26 May 2009 06:30:00 GMT)
Organize Debt Consolidation Quickly and Easily
(ARA) - Until recently, Ken Goins of Woodland Hills, Calif. was like most Americans -- he carried a balance on several credit cards. The weight of the balance became heavier and heavier, and Goins just wanted to end his debt. (Tue, 26 May 2009 07:32:50 GMT)
Simple Steps to Achieve a Better Credit Score
(ARA) - You have plans for your family and future . . . maybe a new house, or a new car to replace the worn-out model you've been driving since your college days. Perhaps you're looking way into the future to when your children are heading off to college, creating a need for loans and financing? (Tue, 26 May 2009 08:24:50 GMT)
Consumer Finance, Debt Relief Expert Source Available to Discuss Credit Card Reform
Brad Stroh of Bills.com Comments on Bill's Implications and Likely Outcomes of Regulations. (Tue, 26 May 2009 12:27:00 GMT)
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