Businessman, diplomat Roland Arnall dead in LA at 68
Posted by Financial Service News on March 17th, 2008The family of Ameriquest Mortgage founder Roland Arnall says he has died at UCLA Medical Center. via WSVN-TV Miami Beach
Latest Fed cut doesn’t boost stock market
Posted by Financial Market News on March 17th, 2008Hello and welcome to a UPI news update on this Monday, the 17 day of March, 2008. via ClipSyndicate
Latest Fed cut doesn’t boost stock market
Posted by Financial Service News on March 17th, 2008Hello and welcome to a UPI news update on this Monday, the 17 day of March, 2008. via ClipSyndicate
Iowa economy still gaining but could slowdown
Posted by Financial Market News on March 17th, 2008A leading state economist says the Iowa economy continues to grow, but a slowdown could be coming this summer if early indications are correct. via KTVO
DC Eatery Joins Businesses in Accepting Euros
Posted by Financial Market News on March 17th, 2008A Mediterranean sandwich shop has joined a number of businesses in tourist-heavy areas that are now accepting the euro and other foreign currencies. via Fox News
Bear Stearns Fallout: What About the Building?
Posted by Financial Service News on March 17th, 2008The market crisis resulting from JPMorgan Chase's $2/share bailout of investment bank Bear Stearns has a real estate subplot that goes beyond the "hopeful Coldwell Banker realtor" that Reuters reports "was ... via Curbed
Wilbur Ross Buys H&R Block’s Option One
Posted by Financial Service News on March 17th, 2008"We shall therefore continue to seek acquisitions of prime, Alt-A and subprime servicing."
Billionaire investor Wilbur Ross will pay $1.1 billion for H&R Block's troubled Option One mortgage servicing business, which has been rocked by the nationwide mortgage meltdown.
Option One currently services about $53 billion of subprime mortgages, ranking it the fourth-largest in the nation. H&R Block shut down Option One's mortgage originations after an earlier agreement to sell the division to Cerberus Capital Management fell through.
WL Ross & Co. earlier agreed to acquire $42 billion mortgage servicing rights from American Home Mortgage Investment Corp., and the combined total of $95 billion will create the country's second-largest subprime servicing portfolio, after Countrywide Financial. Read more
Stocks tumble after Fed moves
Posted by Financial Market News on March 17th, 2008Banks take losses on European markets as the U.S. Federal Reserve takes emergency measures to stem global financial crisis. via Reuters
Carlyle Capital to liquidate as lenders take last of securities
Posted by Financial Service News on March 17th, 2008"As a result, the company believes its liabilities exceed its assets."
After 19 months in business and eight months as a public company, Carlyle Capital Corp., the Channel Islands affiliate of the Washington private-equity firm Carlyle Group, said Monday it would apply under ... via MarketWatch
Asia stocks tumble; dollar dives
Posted by Financial Market News on March 17th, 2008Bourses across Asia suffered heavy losses on Monday ignoring an emergency move by the Federal Reserve to stem a fast spreading credit crisis. via Reuters
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