Archive for October, 2009
Citigroup (C), JP Morgan Chase (JPM), Wells Fargo (WFC) and Others to Lose FDIC Debt Guarantees
Some of the nation’s largest financial companies, including Citigroup (NYSE: C), GE Capital (NYSE: GE), JPMorgan Chase (NYSE: JPM), Wells Fargo (NYSE: WFC), Bank of America (NYSE: BAC) and others will no longer have certain debt guaranteed by the federal government through the FDIC’s Temporary Liquidity Guarantee Program as of October 31st. The FDIC voted [...]
Marketing Wells Fargo (NYSE:WFC) in a Hostile Consumer Environment
Wells Fargo (NYSE:WFC), as with all banks in America, are viewed in a very hostile an unforgiving manner at this time by consumers, and rightly so, as they have been bailed out with taxpayers money via the Federal Reserve, while large numbers of Americans continue to struggle on a day-to-day basis. With that backdrop, banks have [...]
Wells Fargo & Co’s (NYSE: WFC) Earnings Report: What to Expect
Wells Fargo (NYSE: WFC) is expected to announced their 3rd quarter earnings results before the market opens on Wednesday with a conference call scheduled at 8:30 AM ET. Analysts are currently expecting Wells Fargo to announce revenues of $21.35 Billion and an earnings per share of 36 cents. According to First Call, the consensus range [...]
Citibank (NYSE: C) Cancels Exxon-Mobil (NYSE: XOM), Shell, and Conoco-Philips (NYSE: COP) Co-Branded Credit Cards without Warning
Citibank (NYSE: C) recently cancelled hundreds of co-branded MasterCard accounts, primarily cards associated with gas-stations, without notifying their customers. The Associated Press recently highlighted the story of Shannon Burdette, a Shell Mastercard User that found her credit card was rejected when she tried to refuel her vehicle. After calling the customer service number on the [...]
States Scramble for Money – Sue Federal Government over War Bonds
Over $16 billion in unclaimed war bonds is the stakes which instigated a lawsuit of the states against the federal government, claiming the unclaimed cash should be sent to the states and not the Feds. World War II was the scenario where the bonds were sold at extraordinary rates to Americans who were trying to [...]
SEC Targeting Hedge Funds in Insider-Trading Crackdown
The insider-trading case against billionaire hedge-fund manager Raj Rajaratnam underscores the emphasis by the SEC to put the brakes on what may be prolific insider trading by hedge funds. Normally these types of cases are extremely difficult to win because evidence presented in the past has been largely circumstantial. In order to build stronger cases, [...]
Morgan Stanley (NYSE: MS) To Sell Asset Management Business To Invesco (NYSE: IVZ)
Morgan Stanley (NYSE: MS) announced Monday it has agreed to sell its retail management business in a cash and stock deal to Invesco Ltd. (NYSE: IVZ) for $1.5 billion. The move comes as the investment bank looks to refocus on its institutional client base, such as corporations, pension plans and sovereign wealth funds. The deal [...]
Wells Fargo (NYSE: WFC) Announces New Environmental Efforts
Wells Fargo & Co. (NYSE: WFC) announced plans to cut its greenhouse gas emissions by 20% by 2018, compared to a 2008 baseline. Wells Fargo joined the EPA’s “Climate Leaders” program, plans to install solar systems on 10 of its retail banking locations in Denver, according to their press release. The solar photovoltaic cells are [...]
7 Ways to Reduce The Cost of Your Homeowner’s Insurance
Home owner’s insurance premiums are costly, but there are a number of ways you can reduce the amount you pay to cover your home against the unthinkable. Here are 7 ways to reduce your home insurance premium: 1. Install an alarm system. Most insurance companies will provide you with a discount if you have an [...]
Getting Flood Insurance in 2009 and 2010
What would you do if you came home from a trip to find your entire home sitting in a pool of 3 foot of water? Would you have the money to pay for it? Would you lose some of your most prized possessions? If you live in a flood plain, it’s just not a chance [...]
How to Get Life Insurance If You’re Uninsurable
It seems that insurance companies more and more only want to insure individuals who have never been sick in their life. Frequently people who have previously had cancer, heart disease, or any major illness are prevented from getting just about any sort of insurance. Insurance companies view these individuals as too high risk to accept [...]
Traveling this Thanksgiving? Make Sure to Get Trip Insurance
Besides long lines and possible winter weather delays, traveling during the holidays can be stressful for most. With the Thanksgiving travel season (one of, if not the busiest travel times) nearing and the airlines reducing seat capacity just in time for the holidays, travelers are facing increased travel challenges. Third party travel insurance provider Squaremouth.com’s [...]
Wells Fargo (NYSE: WFC) and U.S. Bancorp (NYSE: USB) Set to Release Earnings
U.S. Bancorp (NYSE: USB) and Wells Fargo (NYSE: WFC), two of the nation’s largest banks, are set to release their earnings on Wednesday coming on the heels of mixed earnings reports from JP Morgan Chase and Bank of America last week. Last week investors saw JP Morgan Chase (NYSE: JPM) release far better than expected [...]
How New York Mellon (NYSE: BK), JP Morgan (NYSE: JPM) and State Street (NYSE: STT) Thrived Through Financial Crisis
Although there are a few major institutions like Citibank and Bank of America that were hammered by the financial crisis, some banks, like JP Morgan Chase (NYSE: JPM), Bank of New York Mellon (NYSE: BK) and State Street (NYSE: ST) got through the recession with relatively little pain because they avoided some of the riskiest [...]
Editorial: Is Goldman Sachs (NYSE:GS) Obama’s Personal Financial Farm Team?
The announcement last week that yet another executive from Goldman Sachs (NYSE:GS) was installed in a major financial regulatory position of the Obama administration raised even more red flags on the growing and apparently disturbing relationship directly between the administration and Goldman Sachs. Adam Storch, vice president in Goldman Sachs’ Business Intelligence Group, is the [...]
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