Trading volume on shares of Hartford Financial (NYSE: HIG) surged on Thursday following the insurer’s pricing of its secondary stock offering. The offering is part of Hartford’s plan to raise capital in order to payback taxpayer money, a plan it announced yesterday.
Hartford, along with many other insurers received government aid following the bailout of AIG. [...]
Archive for mitch
Trading Volume Ramps Up In Hartford Financial (NYSE: HIG) Ahead Of TARP Repayment, Stock Offering
Lending At Citigroup (NYSE: C), Other Bailed Out Banks Falls In January
The Treasury Department reported Monday that new lending dropped 35 percent in January at the nine largest banks that still owe bailout money. However, average loan balances did rise 2 percent compared to December, the highest level since September.
The report is based on a survey by the Treasury Department, with January’s report being the last [...]
Report: Bank Of America (NYSE: BAC) Aims To Grow Business In China
Bank of America (NYSE: BAC) is looking to expand its business operations in China, according to recent reports. The largest U.S. bank, based on assets, inherited a well established Asian investment banking business from Merrill Lynch when it acquired the bank.
According to a report by the Wall Street Journal, Bank of America is pondering the [...]
Wells Fargo (NYSE: WFC) Boosts Loan Modifications 41 Percent In February
Wells Fargo (NYSE: WFC) announced Friday that it started 24,975 new mortgage modification trials in February under the government’s Home Affordable Modification Program, up 41 percent from a month prior. The bank now has 139,065 active trial modifications and completed modifications through HAMP, as of February 28.
Wells’ said of those HAMP modifications, 24,975 are now [...]
Citigroup (NYSE:C), JP Morgan (NYSE: JPM) Helped Spark Lehman’s Collaspe
In a 2,200 page report, the U.S. Trustee appointed examiner said that JP Morgan Chase (NYSE: JPM) and Citigroup (NYSE: C) helped cause the demise of Lehman Brothers by changing guarantee agreements and requiring more capital from the defunct investment bank.
Anton Valukas, filed the report in a Manhattan federal court on Thursday, which details a [...]
Berkshire Hathaway (NYSE: BRK-B) Chairman Warren Buffett Takes $100,000 Salary For 29th Year
In a time when bailed out Wall Street firms are reporting multi-million dollar payouts to executives for 2009, Warren Buffett, the Oracle of Omaha took just $100,000 from Berkshire Hathaway, the company he led to a 60 percent earnings increase in 2009.
The $100,000 annual salary last year, marks the 29th straight year that Buffett’s compensation [...]
Visa (NYSE: V) To Hire 350 Workers In Miami Area
Visa Inc. (NYSE: V) announced they will hire 350 workers to staff a new customer service center opening in the Miami-Dade county of Florida. The new employees will provide support to Visa’s financial institution clients, merchants and cardholders.
Once the center is operational, target is for this summer, it will function around the clock and the [...]
SEC Charges Stock Loan Trader For Defrauding Morgan Stanley (NYSE: MS) And Bank Of America (NYSE: BAC)
The Securities and Exchange Commission filed charges against a former New York stock loan trader who was employed at Morgan Stanley (NYSE: MS) and Bank of America (NYSE: BAC) for periods of time. The suit claims Salvatore Zangari received kick-backs in excess of $100,000 in exchange for sending stock loan orders to brokerage firms that [...]
March 10th, 2010 | mitch | Comments | Continued
Recession Takes Bite Out Of Tax Preparers, H&R Block (NYSE: HRB) Reports Fewer Filings
Last year’s recession and surging unemployment levels impacted many U.S. households and businesses. However, it is just now impacting tax preparers like H&R Block (NYSE: HRB) who have seen filings drop more than 9 percent in the first two months of 2010 compared to a year ago.
The nation’s largest tax preparer reported the decline while [...]
AIG (NYSE: AIG) Readies Another Big Sale, Alico Unit Likely Going To MetLife (MYSE: MET)
American International Group (NYSE: AIG) is apparently not wasting any time raising even more capital following capital last week’s sale of American International Assurance (AIA) to Prudential plc. The firm is expected to announce as early as Monday morning that it has reached a deal to sell its American Life Insurance Co. (Alico) to MetLife [...]
March 8th, 2010 | mitch | Comments | Continued
American Express (NYSE: AXP) And Capital One (NYSE: COF) Joined The Big Banks Raising Credit Card Rates
American Express (NYSE: AXP) and Capital One Financial Corp. (NYSE: COF) raised rates on two of their most popular cards before February 22, when the Credit Card Accountability, Responsibility and Disclosure (CARD) Act kicked in.
American Express bumped its average annual percentage rate (APR) on its Blue Card to start at 15.24 percent, up from 8.99 [...]
Does anybody know how many shares the gov owns I know its approx 27%? 
Just use a little psychology and you can interpret this any way you want depending on your disposition. I would ...
Yeah he can really say that if the government is waiting for the release of the positive result which will ...