Editorial Results (free)
1. Top White-Collar Crime Prosecutor Getting SEC Job
- Friday, January 25, 2013
WASHINGTON (AP) – President Barack Obama will nominate former U.S. attorney Mary Jo White, who built a reputation prosecuting white-collar crimes, to lead the Securities and Exchange Commission, an agency that has a central role in implementing Wall Street reform.
2. US Still Faces Political Fights on Spending, Debt
- Thursday, January 03, 2013
WASHINGTON (AP) – A last-minute deal will keep the U.S. from driving off the so-called "fiscal cliff," but higher taxes and continued political fighting in Washington threaten to shake the fragile economy well into 2013.
3. Bank of America Says Housing has ‘Begun to Turn'
- Thursday, October 18, 2012
NEW YORK (AP) – For banks, mortgage-making kept profits humming before the financial crisis, then blackened reputations and stamped out earnings when the crisis hit.
Now, the business of mortgage lending is more of a mixed bag.
4. Bank of America to Pay $2.43 Billion in Settlement
- Monday, October 01, 2012
Bank of America says it has agreed to pay $2.43 billion to settle a class-action lawsuit related to its acquisition of Merrill Lynch at the height of the financial crisis.
In the lawsuit, shareholders alleged that Bank of America and some of its officers made false or misleading statements about both companies’ financial health.
5. IP Looks to Future Following Temple-Inland Acquisition
- Wednesday, September 19, 2012
When International Paper Co. moved its headquarters to Memphis in 1987 it was an economic development milestone for Shelby County.
6. US Economy Looks Weaker
- Friday, July 27, 2012
WASHINGTON (AP) – Businesses placed fewer orders for most long-lasting manufactured goods in June, suggesting many are losing confidence in the slumping U.S. economy.
The housing recovery also lost some momentum last month as fewer Americans signed contracts to buy homes. A third report Thursday showed applications for unemployment benefits plunged last week – normally a good sign. But economists quickly dismissed the decline, saying fewer temporary auto layoffs distorted the figure.
7. Dollar General to Sell $450 Million in Senior Debt
- Thursday, June 28, 2012
GOODLETTSVILLE, Tenn. (AP) – Dollar General Corp. announced Wednesday that it is offering $450 million in senior notes due in 2017.
The discount retailer said it plans to use the proceeds, along with cash on hand and possible other borrowings, to redeem its outstanding senior unsubordinated notes.
8. US Economic Outlook Brightens as Retail Sales Rise
- Tuesday, April 17, 2012
WASHINGTON (AP) – Americans bought more electronics, started home improvement projects and updated their wardrobes last month, inspired by warmer weather and a healthier job market.
U.S. retail sales rose 0.8 percent in March, the Commerce Department said Friday.
9. Goldman Manifesto Echoes Past Questions About Bank
- Monday, March 19, 2012
The young banker whose dramatic public resignation stung Goldman Sachs this week joins officials from every corner of the government in questioning whether the august investment house deals honestly with all its clients.
10. ABB Acquires Thomas & Betts in $3.9B Deal
- Monday, January 30, 2012
The Swiss-based ABB group of companies is acquiring Memphis-based Thomas & Betts Corp. in a $3.9 billion deal, according to a joint announcement from both companies late Sunday, Jan. 29.
11. Retail Sales Weaken in Dec. But Cap Record Year
- Friday, January 13, 2012
WASHINGTON (AP) – America's retailers enjoyed a record 2011 and their first $400 billion sales months ever. But the final month of the year was a dud.
Sales eked out a 0.1 percent increase in December, to a seasonally adjusted $400.6 billion.
12. Retail Sales are Helping Economy Grow Consistently
- Wednesday, December 14, 2011
WASHINGTON (AP) – Economic growth is picking up in the final three months of the year, fueled by higher consumer spending, rising business stockpiles and modest increases in hiring.
The start of the holiday shopping season in November helped produce the sixth straight monthly increase in retail sales. Gift-buying Americans spent more on clothing and electronics, and sales of autos and furniture also rose.
13. Bank of America Settles Mortgage Suit for $315M
- Wednesday, December 07, 2011
NEW YORK (AP) – Bank of America agreed to pay $315 million to settle claims by investors that they were misled about mortgage-backed investments sold by its Merrill Lynch unit.
The settlement was disclosed in court papers filed late Monday in U.S. District Court in Manhattan and requires the approval of a judge.
14. NYC Judge Rejects $285M SEC-Citigroup Agreement
- Tuesday, November 29, 2011
NEW YORK (AP) – A federal judge on Monday struck down a $285 million settlement that Citigroup reached with the Securities and Exchange Commission, saying he couldn't tell whether the deal was fair and criticizing regulators for shielding the public from the details of what the firm did wrong.
15. Economy Could Suffer if Tax Cut, Jobless Aid End
- Monday, November 28, 2011
WASHINGTON (AP) – A tax cut that reaches 160 million Americans and government aid for the long-term unemployed will expire at the end of the year – sucking $165 billion out of the economy next year – unless Congress takes action.
16. Regions CFO: Progress ‘On Schedule’
- Wednesday, November 16, 2011
Regions Financial Corp.’s five-month-old process of selling Memphis-based investment banking company Morgan Keegan & Co. Inc. continues to drag on.
17. BofA Expects $1.8B Gain From Chinese Bank Stake
- Tuesday, November 15, 2011
Bank of America will sell most of its remaining shares in China Construction Bank as it raises cash and shores up its capital base.
18. Education Realty Trust Closes Common Stock Offering
- Thursday, November 10, 2011
Education Realty Trust Inc. has closed its underwritten public offering of 14.4 million shares of common stock, including 1.9 million shares purchased by the underwriters pursuant to an overallotment option, the company announced Tuesday, Nov. 8.
19. Job Market Improves Modestly as Unemployment Falls
- Monday, November 07, 2011
WASHINGTON (AP) – The American job market improved modestly in October, and economists looking deeper into the numbers found real reasons for optimism – or at least what counts for optimism in this agonizingly slow economic recovery.
20. Education Realty Trust Announces Stock Offering
- Friday, November 04, 2011
Education Realty Trust Inc., a Memphis-based owner, developer and manager of collegiate housing, plans to sell 12.5 million shares of its common stock in an underwritten public offering, the company announced Wednesday.
21. Somerset Park Apartments Sell for $1.1 Million
- Tuesday, November 01, 2011
3425 Winchester Park Drive
Memphis, TN 38118
Sale Amount: $1.1 Million
22. Getwell Walgreens Sold Yet Again
- Monday, October 31, 2011
The Walgreens pharmacy at 1201 Getwell Road has traded hands again.
An entity called 1201 Getwell LLC, which lists a Weehawken, N.J., address, bought the property from Elm Special Opportunities Fund I LLC of St. Louis for $4.9 million in a special warranty deed.
23. St. Louis Co. Buys Getwell Walgreens
- Wednesday, October 26, 2011
Elm Special Opportunities Fund I LLC of St. Louis has paid $4.4 million for the Walgreens pharmacy at 1201 Getwell Road. The sale closed Oct. 18 in a special warranty deed.The property is a 14,462-square-foot Walgreens on 2.3 acres at the southwest corner of Rhodes Avenue and Getwell Road. The store was built in 2004.
24. Morgan Stanley Outdoes Rivals; Earns $2.2B
- Thursday, October 20, 2011
NEW YORK (AP) – Morgan Stanley emerged from the tumultuous third quarter in better shape than most of its Wall Street rivals.
25. Bank of America Earns $6.2B on Accounting Gains
- Wednesday, October 19, 2011
NEW YORK (AP) – Bank of America earned $6.2 billion in the third quarter on accounting gains and the sale of a stake in a Chinese bank, which offset lower revenue and income in its credit card, real estate and investment banking businesses.
26. Bank Earnings to Reflect Slowdown From Q3 Turmoil
- Tuesday, October 11, 2011
NEW YORK (AP) – Investors are bracing for a rough earnings season from banks.
Turbulence in stock and bond markets, combined with waning confidence among business and consumers, hurt banks' business in the third quarter. IPOs were shelved, companies postponed plans to sell bonds, and acquisitions were put on ice. Consumers also held back on spending.
27. In the US, Two Housing Markets and Two Directions
- Thursday, September 22, 2011
In America, it's starting to feel as if there are two housing markets. One for the rich and one for everyone else.
Consider foreclosure-ravaged Detroit. In the historic Green Acres district, a haven for hipsters, a pristine, three-bedroom brick Tudor recently sold for $6,000 – about what a buyer would have paid during the Great Depression.
28. New York Co. Buys Medical Office Buildings
- Tuesday, September 20, 2011
1333 Poplar Ave.
Memphis, TN 38104
Sale Amount: $2.9 million
Sale Date: Aug. 26, 2011
29. First Horizon, Fitch Say Risk Manageable
- Monday, September 19, 2011
Bryan Jordan, the president and CEO of First Tennessee Bank’s parent company, told his audience at an industry conference a few days ago in New York City that his company has been out of the mortgage business for three years now.
30. Inflation Squeezing Consumers in Weak Economy
- Friday, September 16, 2011
WASHINGTON (AP) – Consumers are spending more to fill their tanks, feed their families and pay the rent. At the same time, the number of people applying for unemployment benefits has reached the highest level in three months.
31. Hospital Operator HCA to Buy Back Stock From Bank of America
- Friday, September 16, 2011
NASHVILLE (AP) – HCA Holdings Inc. said Thursday that it will buy back about $1.5 billion of its shares owned by Bank of America Corp., one of the lead underwriters from the hospital operator's initial public offering of stock last March.
32. Walgreens Site Financed for $2.4 million
- Friday, September 16, 2011
St. Louis-based Muriel Real Estate LLC has filed a $2.4 million loan through The Business Bank of St. Louis for property that houses a Walgreens pharmacy at 1201 Getwell Road. No maturity date was listed on the loan documents.
33. Economists Show Support for Obama Job-Growth Plan
- Monday, September 12, 2011
WASHINGTON (AP) – A tentative thumbs-up.
That's the assessment from economists, who have offered mainly positive reviews of President Barack Obama's $447 billion plan to stimulate job creation.
34. Feds Sue 17 Major U.S. Banks, Including First Tenn. Parent
- Wednesday, September 07, 2011
The federal agency that oversees the government-sponsored mortgage entities Fannie Mae and Freddie Mac has filed lawsuits seeking billions of dollars in compensation from several major U.S. banks, including the parent company of First Tennessee Bank.
35. Feds Sue 17 Major U.S. Banks, including First Tenn. Parent
- Tuesday, September 06, 2011
The federal agency that oversees the government-sponsored mortgage entities Fannie Mae and Freddie Mac has filed suit seeking billions of dollars in compensation from several major U.S. banks, including the parent company of First Tennessee Bank.
36. US: Budget Deficit to Hit $1.28T, Down Slightly
- Thursday, August 25, 2011
WASHINGTON (AP) – The federal budget deficit will hit $1.28 trillion this year, down slightly from the previous two years, with even bigger savings to come over the next decade, according to congressional projections released Wednesday.
37. Bank of America to Ax 10,000 or More Jobs
- Monday, August 22, 2011
Bank of America Corp., the nation’s largest bank, said Friday, Aug. 19, that it plans to cut 3,500 jobs by the end of September.
38. S&P Downgrade of Long-Term US Debt Divides Experts
- Tuesday, August 09, 2011
WASHINGTON (AP) – Standard & Poor's decision to downgrade the credit rating of long-term U.S. debt has unleashed a flood of responses from critics and defenders.
Many critics said S&P had no business downgrading U.S. Treasurys, which remain the safest and most easily tradable investment of choice around the world. And in fact investors offered backing for that argument Monday, when they continued to pour money into U.S. Treasurys.
- Friday, August 05, 2011
The Rotary Club of Memphis Central will meet Friday from 11:45 a.m. to 1 p.m. at the Holiday Inn University of Memphis, 3700 Central Ave. Darrin Mullis will speak about the Holy Rosary Angel Program, an autism educational support service. Cost is $20 for nonmembers. For reservations, call Karen Shea at 683-9099.
40. Economy's Spring Slump Could Last Through Summer
- Friday, July 22, 2011
WASHINGTON (AP) – The economy's spring slump appears to be extending into the summer, according to a slew of mixed data released Thursday.
Layoffs are rising. Manufacturing activity in the Northeast expanded only slightly in July after contracting in June. Economic growth is projected to pick up this fall, but not enough to give businesses confidence to hire and speed the recovery.
41. BofA Reports $9.1B Loss In Q2 on Settlement
- Wednesday, July 20, 2011
Things keep getting worse for Bank of America.
The nation’s largest bank reported a loss of $9.1 billion during the second quarter, partly due to an $8.5 billion settlement with investors. That agreement, reached in June, settled claims that the bank had sold the investors poor-quality mortgage bonds.
42. Consumer Spending In May Weakest in Year
- Tuesday, June 28, 2011
WASHINGTON (AP) – For the first time in a year, Americans have stopped spending more.
Consumer spending failed to budge from April to May, evidence that high gas prices and unemployment are squeezing household budgets. When adjusted for inflation, spending actually dropped 0.1 percent last month, the Commerce Department reported Monday, June 27.
43. MAA Continues Acquisition Spurt
- Monday, June 27, 2011
Memphis-based MAA, formerly known as Mid-America Apartment Communities, has acquired Tattersall at Tapestry Park, a 279-unit upscale apartment community located in the Southeast sub-market of Jacksonville, Fla.
44. Unemployment Aid Applications Stuck at High Level
- Friday, June 10, 2011
WASHINGTON (AP) – The number of Americans seeking unemployment benefits hardly changed for a second straight week, stuck at a high level that points to a slowing job market.
Weekly unemployment benefit applications ticked up 1,000 to a seasonally adjusted 427,000 last week, the Labor Department said.
45. Delta Plan Yields More Cuts at Memphis Airport
- Friday, June 10, 2011
On the way to its Labor Day goal of cutting capacity, Delta Air Lines Inc. is making more specific the moves that will cut its service at Memphis International Airport, one of Delta’s seven domestic hubs.
46. Few Jobs Added in May; Unemployment Up to 9.1 Pct
- Monday, June 06, 2011
WASHINGTON (AP) – U.S. employers in May added the fewest jobs in eight months, and the unemployment rate inched up to 9.1 percent. The weakening job market raised concerns about an economy hampered by high gas prices and the effects of natural disasters here and abroad.
47. Morgan Keegan Analysts Honored Nationally
- Friday, May 27, 2011
The stock pickers and corporate earnings estimators at Memphis-based Morgan Keegan & Co. Inc. are among the best of the best.
48. LinkedIn Increases Price Range for IPO Shares
- Wednesday, May 18, 2011
NEW YORK (AP) – The professional networking website LinkedIn is increasing the target price for its initial public offering of stock by about 30 percent in a sign of heavy demand by investors. The increase is encouraging for future IPOs of other social-networking companies such as Facebook, Twitter and Groupon.
49. Bank of America to Spin Off Private Equity Unit
- Thursday, April 21, 2011
NEW YORK (AP) – Bank of America Corp. is planning to spin off its private equity business by the end of the second quarter.
50. Retailers: Home Owners Spending More on Renovation
- Thursday, February 24, 2011
NEW YORK (AP) – Home owners are starting to spend more on home-improvement projects despite the weak housing market, quarterly results from Lowe's Cos. and Home Depot show.
Lowe's said Wednesday its fourth-quarter profit rose 39 percent as its shoppers spent slightly more per visit.
51. ‘Big 3’ Reflect Local Banking Scene
- Monday, February 21, 2011
One of the most famous aphorisms about politics is that all of it is local. Bankers and other inhabitants of the finance world know the same often goes for them too.
In the run-up to the recession, financial services firms like Citigroup and Bank of America raced to gobble each other up and built sprawling financial supermarkets.
52. Unemployment Falls to 9 Pct., Nearly 2-Year Low
- Monday, February 07, 2011
WASHINGTON (AP) – The unemployment rate is sinking at the fastest pace in half a century because a surprisingly large number of people say they're finding work.
It conflicts with a business payroll survey last month that showed relatively weak job growth. But that survey doesn't count the self-employed and likely undercounts the nation's smallest businesses. Also, harsh weather disrupted business payrolls in January.
53. Chamber Breakfast to Help Businesses ‘Revive and Thrive’
- Monday, January 31, 2011
Jane Applegate, the leading speaker for Bloomberg Television’s “Financial Forum” speaker series, will discuss growth strategies for small businesses at the Greater Memphis Chamber’s first Small Business Council Breakfast of 2011.
54. $25M Loan Arranged for Eastgate Shopping Center
- Tuesday, January 25, 2011
The Dallas office of Holliday Fenoglio Fowler L.P. has arranged a $25 million loan for Eastgate Shopping Center.
Eastgate is situated on more than 32 acres at 5048 Park Avenue in East Memphis.
55. RadioShack CEO Julian Day Retiring
- Tuesday, January 25, 2011
NEW YORK (AP) – RadioShack said Monday its chairman and CEO Julian Day is leaving and announced disappointing fourth-quarter guidance that sent shares down 12 percent in midday trading.
56. Bank of America Targets Mass Affluent Consumers
- Tuesday, January 25, 2011
NEW YORK (AP) – Bank of America Corp. on Monday launched an initiative targeting what it calls "mass affluent" customers with $50,000 to $250,000 in investable assets.
57. Coca-Cola Will Buy Back $1.05B of its Own Debt
- Thursday, December 16, 2010
ATLANTA (AP) – The Coca-Cola Co. said on Wednesday that its offer to buy back up to $1.6 billion in debt expired on Tuesday after investors offered to sell back $1.05 billion in notes.
58. CB Richard Ellis Refinances $650M in Debt
- Friday, November 12, 2010
LOS ANGELES (AP) – CB Richard Ellis Group Inc. said Thursday it has lined up $1.5 billion in new credit and refinanced $650 million in debt under its credit agreement.
59. Chandler Finds Cookbook Writing ‘Simply Successful’
- Friday, November 05, 2010
Jennifer Chandler cooks in an ordinary galley kitchen with one sink, one Jenn-Air stove and one Sub-Zero refrigerator, which was in the house already.
60. Treasury Announces Sale of Citigroup Shares
- Thursday, September 30, 2010
WASHINGTON (AP) — The government said Wednesday it is starting to sell $2.2 billion in trust preferred shares that it holds in Citigroup, another move to recoup the costs incurred in the $700 billion financial bailout.
61. AutoZone Parts Retailer's Q4 Profit Rises 14 Pct
- Tuesday, September 21, 2010
NEW YORK (AP) – Brisk sales of do-it-yourself repair parts lifted AutoZone Inc.'s profit almost 14 percent in its fiscal fourth quarter.
62. Data Show Jobless Claims Drop, Retail Sales Rise
- Friday, September 03, 2010
WASHINGTON (AP) – A weak economy got a little lift Thursday with new data suggesting companies aren't pursuing mass layoffs and stores are a little busier.
New applications for unemployment benefits declined for a second straight week after rising in the previous three. Retailers reported surprisingly strong sales in August. And more people signed contracts to buy homes.
63. Some BofA Shareholders Can Apply to Tap $150M Fund
- Thursday, September 02, 2010
WASHINGTON (AP) – Investors who lost money when Bank of America Corp. bought Merrill Lynch without disclosing Merrill's problems can start applying to tap a $150 million compensation fund.
64. Companies Hire at Slow Pace for 3rd Straight Month
- Monday, August 09, 2010
WASHINGTON (AP) – Companies showed a lack of confidence about hiring for a third straight month in July, making it likely the economy will grow more slowly the rest of the year. The unemployment rate was unchanged at 9.5 percent.
65. AP Source: NY AG Probing 8 Banks Over Securities
- Friday, May 14, 2010
NEW YORK (AP) — New York's attorney general has launched an investigation into eight banks to determine whether they misled ratings agencies about mortgage securities, according to a person familiar with the inquiry.
66. Hospital Operator HCA Inc. Files for $4.6B IPO
- Monday, May 10, 2010
INDIANAPOLIS (AP) — Hospital chain HCA Inc. plans to raise $4.6 billion in its third initial public offering of common stock, more than three years after it was taken private in a leveraged buyout by a group of private equity investors.
67. Goldman Sachs Paid $20K to Ford
- Tuesday, May 04, 2010
Goldman Sachs paid the lobbying firm of former Memphis Congressman Harold Ford Sr. $20,000 at the end of 2009. Congressional records from the fourth quarter show The Harold Ford Group was paid to promote the interests of the powerful Wall Street investment bank on issues including the pending financial reform bill.
68. BofA Earns $2.83 Billion in Q1 on Strong Trading
- Monday, April 19, 2010
CHARLOTTE, N.C. (AP) - Bank of America reported Friday its first-quarter earnings rose 0.7 percent to $2.83 billion as strong trading revenue helped the bank offset continuing losses on consumer loans.
69. Bank of America Taps Ex-Northrop Exec for CFO Post
- Thursday, April 15, 2010
CHARLOTTE, N.C. (AP) - Bank of America said Wednesday it named an outsider, former Northrop Grumman executive Charles H. Noski, as its chief financial officer.
Bank of America Corp. was expected to bring in leaders from outside as it tries to improve relations with regulators, handle investigations into the bank's purchase of Merrill Lynch, and restore shareholder morale.
70. Court Says Judges Can Settle Mutual Fund Fee Fight
- Wednesday, March 31, 2010
WASHINGTON (AP) – The U.S. Supreme Court on Tuesday rejected a lower court standard that investors say would have made it almost impossible for them to sue over “excessive” fees on mutual funds.
71. Gov’t Bank Auditors Got Big Bonuses Too
- Friday, March 19, 2010
WASHINGTON (AP) – Banks weren’t the only ones giving big bonuses in the boom years before the worst financial crisis in generations. The government also was handing out millions of dollars to bank regulators, rewarding “superior” work even as an avalanche of risky mortgages helped create the meltdown.
72. Life or Death for The MED
- Monday, March 01, 2010
A hand as tiny as a budding leaf punched at the air inside a baby incubator.
Kelley Smith, the head nurse of the neonatal intensive care unit at The Regional Medical Center at Memphis, checked on the little fighter.
73. CIT Names Ex-Merrill CEO Thain as Chairman, CEO
- Tuesday, February 09, 2010
NEW YORK (AP) - John Thain is getting a second chance.
CIT Group Inc. tapped the former Merrill Lynch CEO to become its chairman and chief executive.
74. Harold Ford Jr.: 'I Continue to Learn' about NY
- Friday, January 22, 2010
TAPPAN, N.Y. (AP) - Harold Ford Jr. ventured to the suburbs Thursday to test the waters outside New York City for a possible U.S. Senate bid but admitted he still has a lot to learn about the state.
75. BofA Loses $5.2B in Q4 as it Repays Bailout
- Thursday, January 21, 2010
CHARLOTTE, North Carolina (AP) - Bank of America Corp. reported Wednesday it lost $5.2 billion during the final three months of 2009 as consumers struggled to make mortgage and credit card payments and the bank repaid its government bailout money.
76. Rove Speculates About Ford Jr. at Stop in Memphis
- Thursday, January 21, 2010
“I’m a fireplug in a world full of dogs. How are you?”
So came the greeting from Karl Rove, one of the most well-known and controversial national political operatives, a few hours before he was scheduled to speak Wednesday night to students in the McCallum Ballroom at Rhodes College.
77. Ford Takes Leave To Focus on Senate Bid
- Wednesday, January 20, 2010
Harold Ford Jr. has taken a leave of absence from his Wall Street job so he can have more free time to travel New York state and decide whether to challenge Sen. Kirsten Gillibrand in the Democratic primary, his spokesman told The Associated Press.
78. Ford Jr. Makes Tough Bid for Liberal NYers' Affections
- Monday, January 18, 2010
NEW YORK (AP) - The last time Harold Ford Jr. ran for the U.S. Senate, he spoke proudly about his pickup truck, his "friend" President George W. Bush, his support for Chief Justice John Roberts and a voting record that "doesn't describe a liberal."
79. Ex-Rep. Ford 'Strongly Considering' NY Senate Run
- Wednesday, January 13, 2010
NEW YORK (AP) - Former U.S. Rep. Harold Ford Jr. began crafting his argument Tuesday for a potential bid to unseat Sen. Kirsten Gillibrand, reinventing himself as an independent thinker battling "Washington insiders."
80. BofA Names Executive Team, Looking for New CFO
- Wednesday, January 13, 2010
NEW YORK (AP) - Bank of America Corp. is shuffling its senior management team, moving its chief financial officer over to lead consumer and small business banking and naming a new chief risk officer.
81. SEC Expands Charges Against BofA
- Tuesday, January 12, 2010
WASHINGTON (AP) - Federal regulators have expanded their charges against Bank of America Corp. over billions in bonuses paid at Merrill Lynch, accusing the bank of failing to disclose mounting losses at Merrill before a shareholder vote approving the combination of the two firms.
82. Brian Moynihan to Succeed Ken Lewis as BofA CEO
- Friday, December 18, 2009
CHARLOTTE, North Carolina (AP) - Bank of America's new CEO says he doesn't expect to lead a major shift in strategy at America's largest bank when he takes over from Ken Lewis on Jan. 1. But with loan losses continuing to mount amid double-digit unemployment rates, it remains to be seen whether investors will embrace staying the course.
83. Memphian Williams Has Economic Front-Row Seat From FINRA Board
- Friday, December 04, 2009
When Memphian Duncan Williams joined the board of the Financial Industry Regulatory Authority in 2007, his colleagues included representatives of powerhouse firms with familiar names.
But Robert McCann, the former president of Merrill Lynch & Co. Inc.’s retail unit, and Thomas Russo, the former chief legal officer at Lehman Brothers Inc., left the FINRA board earlier this year. Their companies went out of business as standalone entities as a result of the U.S. economy’s near-death experience in 2008.
84. Lawmakers Seek Fed Audit after Critical AIG Report
- Thursday, November 19, 2009
WASHINGTON (AP) - A group of House Democrats are stepping up demands for greater transparency from the Federal Reserve after reports that the Fed mishandled the bailout of insurance giant American International Group Inc.
85. Dems, Republicans at Odds over BofA, Merrill Deal
- Wednesday, November 18, 2009
WASHINGTON (AP) - A senior House Democrat says the government didn't force Bank of America to take over Merrill Lynch, but a bank board member said much pressure was applied and Republicans charged that a committee inquiry was covering up the role of an Obama administration official.
86. BofA CEO Says Financial Industry Recovery Slow
- Wednesday, November 11, 2009
CHARLOTTE, N.C. (AP) - Bank of America Corp.'s outgoing CEO Ken Lewis said Tuesday that the economy may be improving but the recovery in the financial industry remains slow.
87. Bank of America Loses $2.24B as Loan Losses Rise
- Monday, October 19, 2009
CHARLOTTE, N.C. (AP) - Bank of America Corp. said Friday it lost more than $2.2 billion in the third quarter as loan losses kept rising, providing more evidence that consumers are still struggling to pay their bills.
88. CIT Group Says CEO Peek Plans to Resign
- Wednesday, October 14, 2009
NEW YORK (AP) - CIT Group Inc., struggling as it continues efforts to restructure its debt, said Tuesday chairman and CEO Jeffrey M. Peek will resign at the end of the year.
89. Government Report Questions Rescue Claims
- Tuesday, October 06, 2009
WASHINGTON (AP) - The credibility of the government's $700 billion financial rescue program was damaged by claims a year ago that all of the initial banks receiving support were healthy, a new report contends.
90. Bank of America Authorizes TARP Dividend Payment
- Monday, October 05, 2009
CHARLOTTE, N.C. (AP) - Bank of America Corp. said Friday its board authorized a $713 million dividend payment on preferred stock issued to the U.S. Treasury Department as part of the government's bank rescue program last year.
91. BofA Sells Some Asset Management Ops to Ameriprise
- Thursday, October 01, 2009
NEW YORK (AP) - Bank of America Corp. said Wednesday it is selling the long-term asset management business of one of its units to Ameriprise Financial Inc.
92. Ohio AG Takes Lead Role in Bank of America Lawsuit
- Tuesday, September 29, 2009
COLUMBUS, Ohio (AP) - Bank of America Corp. executives improperly concealed billions of dollars in losses and billions in bonuses paid by Merrill Lynch before a shareholder vote on their proposed merger, Ohio's attorney general argued in a class-action securities lawsuit he described as among the largest in history.
93. BofA to Face SEC Trial, Exits Loss-Sharing Deal
- Wednesday, September 23, 2009
WASHINGTON (AP) - Bank of America Corp. now faces a trial with the U.S. Securities and Exchange Commission over billions in bonuses paid at Merrill Lynch, after a judge threw out the bank's $33 million settlement and rebuked the agency for not pursuing charges against executives.
94. Leading Economic Indicators Rise in August
- Tuesday, September 22, 2009
NEW YORK (AP) – A private forecast of economic activity rose in August for the fifth straight month, the latest sign the recession has ended. The New York-based Conference Board’s leading indicators point to an economy on solid ground early next year, though some analysts caution that a rising unemployment rate will restrain growth.
95. AP Source: NY AG Subpoenas 5 BofA Board Members
- Thursday, September 17, 2009
NEW YORK (AP) - The New York Attorney General's office subpoenaed five members of Bank of America Corp.'s board of directors Wednesday as part of an investigation into the bank's acquisition of Merrill Lynch & Co., according to a personal familiar with the investigation.
96. Bailed-Out Companies Detail New Expense Policies
- Tuesday, September 15, 2009
WASHINGTON (AP) - Companies that received billions of dollars of government aid have published policies meant to limit lavish expenses, new rules that follow reports of costly private jets, spa retreats and other corporate excess at firms receiving taxpayer money.
97. Obama Touts Wall St. Changes on Lehman Anniversary
- Tuesday, September 15, 2009
WASHINGTON (AP) - President Barack Obama is going to Wall Street on the first anniversary of the Lehman Brothers collapse to outline financial changes to avert a future crisis like the one that sent the global economy into a tailspin.
98. Risk-taking is Back for Banks One Year after Crisis
- Tuesday, September 15, 2009
NEW YORK (AP) - A year after the financial system nearly collapsed, the nation's biggest banks are bigger and regaining their appetite for risk.
Goldman Sachs, JPMorgan Chase and others – which have received tens of billions of dollars in federal aid – are once more betting big on bonds, commodities and exotic financial products, trading that nearly stopped during the financial crisis.
99. Judge Rejects Deal Between SEC, BofA Over Bonuses
- Tuesday, September 15, 2009
NEW YORK (AP) - A federal judge has rejected a $33 million settlement between the U.S. Securities and Exchange Commission and Bank of America over bonuses paid by Merrill Lynch.
100. Morgan Stanley CEO to Inherit Bank in Transition
- Monday, September 14, 2009
NEW YORK (AP) - Morgan Stanley's incoming CEO will be facing a drastically different landscape on Wall Street from when John Mack took over in 2005.