Editorial Results (free)
1. JPMorgan to Trim 4,000 Jobs, Many in Consumer Banking
- Wednesday, February 27, 2013
NEW YORK (AP) – JPMorgan is trimming about 4,000 jobs, or about 1.5 percent of its work force, becoming the latest big bank to shrink its staff.
The bank said the cuts will be focused in consumer banking and mortgages. Many of the cuts would come through attrition, but the bank will lay off workers as well, a bank spokeswoman said.
2. Lender Processing Paying $121 Million to Resolve Claims
- Friday, February 01, 2013
One of the biggest U.S. mortgage processing companies has agreed to pay $121 million to resolve states' claims that it wrongfully foreclosed on homeowners who should have been allowed to stay in their homes.
3. Citigroup to Cut 11,000 Jobs
- Thursday, December 06, 2012
NEW YORK (AP) – Citigroup said Wednesday that it will cut 11,000 jobs, a bold early move by new CEO Michael Corbat.
The cuts amount to about 4 percent of Citi's workforce. The bulk of them, about 6,200 jobs, will come from Citi's consumer banking unit, which handles everyday functions like branches and checking accounts.
4. Storm's Cost May Hit $50 Billion; Rebuilding to Ease Blow
- Wednesday, October 31, 2012
WASHINGTON (AP) – Superstorm Sandy will end up causing about $20 billion in property damages and $10 billion to $30 billion more in lost business, according to IHS Global Insight, a forecasting firm.
5. Sandy Unlikely to Damage US Economy, Analysts Say
- Tuesday, October 30, 2012
WASHINGTON (AP) – Airlines canceled thousands of flights and stranded travelers. Insurers braced for damages of up to $5 billion. Retailers expected shrunken sales.
Hurricane Sandy is causing disruptions for companies, travelers and consumers. But for the overall economy, damage from the storm will likely be limited. And any economic growth lost to the storm in the short run will likely be restored once reconstruction begins, analysts say.
6. After Pandit, a Smaller Citigroup Could Get Smaller Yet
- Thursday, October 18, 2012
NEW YORK (AP) – The incredible shrinking bank may have to shrink more.
In the hours after Tuesday's surprise announcement that Citigroup CEO Vikram Pandit was stepping down, speculation was rife, and facts scant, about what lay ahead for the nation's third-largest bank.
7. Morgan Stanley Facing Discrimination Lawsuit
- Tuesday, October 16, 2012
NEW YORK (AP) – Morgan Stanley is being accused of discriminating against black homeowners and violating federal civil rights laws by providing strong incentives to a subprime lender to originate mortgages that were likely to go unrepaid.
8. Mortgage Comeback? Citigroup Isn't So Sure
- Tuesday, October 16, 2012
NEW YORK (AP) – Citigroup isn't as enthusiastic as its peers about a comeback in the housing market.
On Friday, executives at Wells Fargo and JPMorgan Chase declared that the long-struggling market had turned a corner. On Monday, Citigroup's top number-cruncher said he wasn't so sure.
9. Expectations High for Fed to Announce Major Action
- Thursday, September 13, 2012
WASHINGTON (AP) – If the world's investors are right, the Federal Reserve is about to take a bold new step to try to invigorate the U.S. economy.
And many expect the central bank, which began a two-day meeting Wednesday, to unleash its most potent weapon: a third round of bond purchases meant to ease long-term interest rates and spur borrowing and spending. It's called "quantitative easing," or QE.
10. Morgan Stanley to Buy Citi's Smith Barney Stake
- Wednesday, September 12, 2012
NEW YORK (AP) – Morgan Stanley and Citigroup have settled a dispute Tuesday over the value of the brokerage firm Morgan Stanley Smith Barney, which they jointly own.
11. Google Cutting 4,000 jobs at Motorola Unit
- Tuesday, August 14, 2012
NEW YORK (AP) – Google Inc. is making its largest round of layoffs ever as it announced plans to cut about 4,000 jobs at Motorola Mobility just three months after buying the struggling cellphone pioneer.
12. Morgan Stanley Closes a Bleak Bank Earnings Season
- Friday, July 20, 2012
NEW YORK (AP) — It's tough being a big bank these days.
Morgan Stanley, the storied investment house, reported Thursday that its revenue was down sharply for April through June and its profit missed Wall Street expectations. Its stock was clobbered — down more than 5 percent.
13. FTN Financial Expands Municipal Bond Group
- Thursday, July 12, 2012
FTN Financial, a division of First Tennessee Bank, has made several recent hires in its Municipal Bond Group.
14. Big US Banks Submit "Living Wills" to Regulators
- Wednesday, July 04, 2012
Nine of the largest U.S. banks have submitted plans to the federal regulators that show how they would break up and sell off their assets if they are in danger of failing.
The Federal Deposit Insurance Corp. released summaries of the "living wills" on Tuesday for Bank of America, Barclays, Citigroup, Credit Suisse, Deutsche Bank, Goldman Sachs, JPMorgan Chase, Morgan Stanley and UBS.
15. Nasdaq Sets Aside $40M for Facebook Investors
- Thursday, June 07, 2012
NEW YORK (AP) – The Nasdaq stock exchange said Wednesday that it plans to hand out $40 million in cash and credit to reimburse investment firms that got ensnared by technical problems with trading Facebook stock.
16. Facebook's Stock Falls Below $30 for First Time
- Wednesday, May 30, 2012
NEW YORK (AP) – Facebook's stock has fallen below $30 for the first time since its much-awaited public debut this month.
The stock fell $2.40, or nearly 8 percent, to $29.40 in midday trading on Tuesday. That's down 23 percent since its public stock debut. It went as low as $29.23 earlier in the day.
17. Regulators Probe Bank's Role in Facebook IPO
- Thursday, May 24, 2012
WASHINGTON (AP) – Regulators are examining whether Morgan Stanley, the investment bank that shepherded Facebook through its highly publicized stock offering last week, selectively informed clients of an analyst's negative report about the company before the stock started trading.
18. Facebook Raises IPO Price as Offering Nears
- Wednesday, May 16, 2012
NEW YORK (AP) – Facebook on Tuesday increased the price range at which it plans to sell stock to the public, as investor enthusiasm in the offering continued to mount and boost the potential value of the world's most popular social network.
19. Dimon Survives Votes on Pay, Chairmanship
- Wednesday, May 16, 2012
TAMPA, Fla. (AP) – The CEO of JPMorgan Chase survived a shareholder push Tuesday to strip him of the title of chairman of the board, five days after he disclosed a $2 billion trading loss by the bank.
20. MAA Acquires Atlanta Apartment Complex
- Tuesday, May 15, 2012
MAA has completed the acquisition of Allure in Buckhead Village – a 230-unit mid-rise multi-family apartment community in Atlanta.
Developed in 2002 by Trammell Crow Residential, Allure in Buckhead Village is located in the Buckhead sub-market of Atlanta – one of the nation’s largest mixed-use development areas. Major employers in the area include AT&T, IBM, Fidelity and Morgan Stanley.
21. JPMorgan Loss Sets Off Call for Heavier Regulation
- Monday, May 14, 2012
WASHINGTON (AP) – A surprise $2 billion trading loss by a division of JPMorgan Chase triggered calls Friday for tougher regulation of banks three years after their near-death experience in the financial crisis.
22. Turbo-Traders Take Bank of America for a Ride
- Monday, February 13, 2012
NEW YORK (AP) – On a normal day, 4 billion shares of stock change hands on the New York Stock Exchange. One in 10 belongs to a single company. It's not McDonald's or IBM, both of which have been on a tear.
23. Morgan Keegan Focus List Wins High 5-Year Marks
- Thursday, February 09, 2012
The focus list of stocks assembled by Morgan Keegan & Co. Inc. ranked second in five-year returns among the stock lists of nine leading national and regional brokerage firms for the five years ended Dec. 31, according to Zacks Investment Research Inc.
24. Fed Likely to Hint of No Rate Increase Before 2014
- Tuesday, January 24, 2012
WASHINGTON (AP) – It could be quite a while yet before the Federal Reserve starts raising the interest rates it's kept at record lows for three years.
Maybe not before 2014.
That's the thinking of many analysts as the Fed prepares this week to provide more explicit clues about how long short-term rates will likely stay near zero.
25. Banks Face Bumpy Earnings Season
- Thursday, January 12, 2012
NEW YORK (AP) – You can usually tell a lot about the health of the U.S. economy by looking at the financial results of banks. They’re the people who finance new factories, plant expansions and fatter payrolls.
26. Morgan Stanley Settles With MBIA Over Mortgages
- Wednesday, December 14, 2011
NEW YORK (AP) – Morgan Stanley said Tuesday it has reached a settlement with insurance company MBIA Inc. over disputes involving mortgage-backed investments.
27. Cable Cos. to Offer $9.95 Broadband for Poor Homes
- Thursday, November 10, 2011
NEW YORK (AP) – Cable companies said Wednesday that they will offer Internet service for $9.95 per month to homes with children that are eligible for free school lunches.
The offer will start next summer and is part of an initiative the Federal Communications Commission cobbled together to get more U.S. homes connected to broadband.
28. 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.
29. JPMorgan's Income Drop Casts a Pall Over Banks
- Friday, October 14, 2011
NEW YORK (AP) – If JPMorgan Chase can't do well, investors worry that other banks may do even worse.
The New York bank, widely considered the strongest in the industry, reported a 4 percent drop in income last quarter Thursday on weakness in investment banking and more costs related to litigation over mortgage investments.
30. 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.
31. Express Scripts Cuts Profit and Prescription Views
- Friday, October 07, 2011
ST. LOUIS (AP) – Express Scripts Inc. cut its annual profit forecast Thursday, saying fewer people are seeing doctors and filling prescriptions while the economy remains stagnant. The pharmacy benefits manager also said its planned purchase of Medco Health Solutions Inc. and a contract dispute with Walgreen are increasing its costs.
32. Mortgage Fraud Reports Spike as Lawsuits Pile Up
- Thursday, September 29, 2011
VIENNA, Va. (AP) – The wave of lawsuits and other demands from investors in mortgage-backed securities contributed to a big spike in reports of likely mortgage fraud during the second quarter, according to a Treasury Department report.
33. IT Challenges From Phones Lunch Topic
- Thursday, September 29, 2011
A recent Morgan Stanley study predicted that by 2015, more than 50 percent of all Internet access will occur through a mobile device.
34. Morgan Keegan Sees Recent Exit of Advisers
- Thursday, September 22, 2011
Morgan Keegan & Co. Inc. has lost some advisers over the last several days, some of them taking a big volume of business with them while the investment banking firm continues to try and resolve the future of its ownership.
35. Morgan Keegan Advisers Leave Firm
- Wednesday, September 21, 2011
In recent days, teams of Morgan Keegan & Co. Inc. advisers either are talking about leaving or have already begun departing the Memphis-based investment firm, for which sale talks continue to drag on.
36. 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.
37. Morgan Stanley's Mack to Retire at End of Year
- Friday, September 16, 2011
Morgan Stanley’s chairman John Mack will step down as chairman and leave the board of directors at the end of 2011. The widely expected move brings an end to a storied Wall Street career for Mack. The North Carolina native was CEO of Morgan Stanley from 2005 to 2009. Current CEO James Gorman will take over the chairman’s role.
38. 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.
39. 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.
40. Sanon Joins Agape As Director of Operations
- Wednesday, August 17, 2011
Julie Sanon has joined Agape Child & Family Services as director of operations.
Hometown: Leesburg, Fla.
Education: Psychology major from Oklahoma Christian University of Science and Arts
41. Mobile to Surpass Web by 2015
- Wednesday, August 10, 2011
By 2015, more people will access the Web via a mobile device – such as a smartphone, Kindle, iPad, video game or GPS system – than through traditional desktop Internet access.
This shocking finding, uncovered in a robust study conducted last year by global financial services firm, Morgan Stanley, serves as a giant wake-up call to companies large and small. You had better have a mobile strategy, toot sweet.
42. Morgan Stanley: US Debt Rating Drop Poses Risk
- Tuesday, August 09, 2011
NEW YORK (AP) – Standard & Poor's downgrade of U.S. debt could end up hurting Morgan Stanley's business should the lower debt rating further erode confidence in the financial markets and economy, the investment bank said in a regulatory filing on Monday.
43. Partnership Advocates Social Media to Firms
- Monday, June 20, 2011
Now that Morgan Stanley has allowed itself to be the first major wealth manager to use social media for marketing purposes, Memphis marketing professional Amy Howell is encouraging other financial services companies to follow Morgan Stanley’s lead.
44. Companies Embracing Twitter To Spread News
- Wednesday, June 15, 2011
Social media experts have often described Twitter as a cocktail party – join in the many ongoing conversations as you hit up different groups in the room.
The reverse is also true. If one stands in the corner and doesn’t embrace the dialogue, no networking is accomplished, and the attendee loses relevance.
45. Pandora Raises IPO Offering Price Range
- Monday, June 13, 2011
NEW YORK (AP) – Pandora raised the price range of its initial public offering Friday by at least a third and boosted the number of shares to be sold by as many as a million, demonstrating again a seemingly insatiable demand from investors for a stake a new slate of Internet companies.
46. 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.
47. H&R Block Tumbles on Fears Regarding Mortgages
- Tuesday, May 10, 2011
NEW YORK (AP) – Shares of H&R Block Inc. led the S&P 500 downward Monday on renewed fears that the company will be dragged back into a subprime mortgage mess.
48. Home Run
- Monday, April 18, 2011
From March to September, Matt Hughes is a busy man. His 10-year-old son plays for the Jackson (Tenn.) Coyotes, a competitive baseball team. Just about every weekend Hughes and his family of four hit the road for a baseball tournament, traveling around the Southeast to places from Memphis to Panama City, Fla.
49. Fed Names Banks That Drew Loans During Crisis
- Friday, April 01, 2011
WASHINGTON (AP) – For the first time in its 98-year history, the Federal Reserve on Thursday identified banks that borrowed from its oldest lending program, naming those that drew emergency loans during the financial crisis.
50. SunTrust Plans Stock Offering
- Tuesday, March 22, 2011
SunTrust Banks Inc. has begun a roughly $1 billion common stock offering as a step in the company’s planned repurchase of its preferred shares of stock issued to the U.S. Treasury as part of the Troubled Asset Relief Capital Purchase Program.
51. Morgan Keegan Hires Clark to Lead Ohio Expansion
- Thursday, February 24, 2011
Rusty Clark, formerly with Morgan Stanley Smith Barney, has joined Morgan Keegan & Co. Inc. and will oversee the firm’s private client group expansion in Ohio.
52. Dollar Signs
- Monday, February 21, 2011
From wealth management to accounting to investment firms, plenty of financial services companies in Memphis are enjoying a robust level of growth that might seem surprising to an outsider.
Yet it’s clear the economic recovery is well under way, and companies with strong fundamentals are reaping rewards.
53. Foreign Investors Buy Treasure Park Apartments
- Tuesday, February 15, 2011
2601 N. Watkins St.
Memphis, TN 38127
First Sale: $1.1 million
Sale Date: Jan. 31, 2011
Buyer: City National Bank
Seller: Federal Deposit Insurance Corp. as receiver for Imperial Capital Bank of La Jolla, Calif.
Second Sale: $450,000
Sale Date: Jan. 28, 2011
Buyer: Square Mile Investments LLC
Seller: City National Bank
Details: A foreign investment group named Square Mile Investments LLC has bought Treasure Park Apartments at 2601 N. Watkins St. in Frayser from City National Bank for $450,000.
Details: A foreign investment group named Square Mile Investments LLC has bought Treasure Park Apartments at 2601 N. Watkins St. in Frayser from City National Bank for $450,000.
54. Cordova Strip Center Sells for $800,000
- Thursday, February 10, 2011
Cordova-based Monopoly Properties LLC has bought a strip shopping center at 990 N. Germantown Parkway from U.S. Bank NA, as trustee for Morgan Stanley Capital I Inc. Commercial Mortgage Pass-Through Certificates Series 2005-HQ7, for $800,000.
55. Morgan Keegan Plots 2011 Growth
- Monday, January 17, 2011
Morgan Keegan & Co. Inc. has kicked off 2011 with plans to open several new offices in the Northeast and by adding new executives to the firm’s public finance and investment banking teams.
56. Morgan Keegan Adds Staff, Plans Expansion
- Friday, January 14, 2011
Morgan Keegan & Co. has announced new hires in several areas of the Memphis-based investment banking firm.
57. Morgan Stanley Corporate Fund Raises $956M
- Thursday, January 13, 2011
NEW YORK (AP) – Morgan Stanley announced Wednesday that its first dedicated corporate mezzanine fund, Morgan Stanley Credit Partners, has raised $956 million in its final closing.
58. Less Worried About Layoffs, Jobholders Spend More
- Tuesday, January 11, 2011
WASHINGTON (AP) – A steady decline in layoffs is giving the vast majority of adults who have jobs the confidence to spend more freely and help energize the economy. They no longer worry so much about losing their jobs.
59. New Tax Law Packed With Obscure Business Tax Cuts
- Tuesday, December 28, 2010
WASHINGTON (AP) – The massive new tax bill signed into law by President Barack Obama is filled with all kinds of holiday stocking stuffers for businesses: tax breaks for producing TV shows, grants for putting up windmills, rum subsidies for Puerto Rico and the Virgin Islands.
60. First Horizon Prices $500M Notes Offering
- Friday, December 17, 2010
MEMPHIS (AP) – First Horizon National Corp. on Thursday priced a public offering of $500 million in 5.375 percent senior notes due 2015.
61. First Horizon Offering Priced at $10.50 per Share
- Wednesday, December 15, 2010
Memphis-based financial services company First Horizon National Corp. said Tuesday its offering of 23.8 million shares was priced at $10.50 each, for gross proceeds of $250 million.
62. First Horizon to Repay TARP Funds
- Tuesday, December 14, 2010
First Tennessee Bank’s top brass can cross two big items off the company to-do list.
The largest Tennessee-based banking company has announced its intention to repay the investment of $866 million in emergency federal funds injected into the company in late 2008.
63. First Tennessee Parent to Repay TARP
- Monday, December 13, 2010
First Tennessee Bank's top brass can cross two big items off the company to-do list.
The largest Tennessee-based banking company has announced its intention to repay the investment of $866 million in emergency federal funds injected into the company in late 2008 as part of the government rescue of the financial system.
64. Shoppes at Misty Meadows Sells to Hariom Enterprise
- Tuesday, October 19, 2010
3810 Hacks Cross Road
Memphis, TN 38125
Sale Amount: $1.9 Million
Sale Date:Sept. 22, 2010
Buyer:Hariom Enterprise Inc.
Seller:The Bank of New York Mellon Trust Co. NA, as trustee for Morgan Stanley Capital I Inc. commercial mortgage pass-through certificates, series 2007-IQ14
Loan Amounts:$950,000; $760,000
Loan Dates:Oct. 8, 2010
Maturity Dates:Oct. 8, 2020; April 8, 2011
Lender:Landmark Community Bank
65. 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.
66. MedVet Memphis Builds New Cordova Facility
- Tuesday, August 31, 2010
555 Trinity Creek Cove
Cordova, TN 38018
Permit Amount: $3 million
Permit Date: Applied August 2010
Completion: May 2011 (open Summer 2011)
Owner: MedVet Memphis LLC
Tenant: MedVet Memphis LLC
Contractor: Grinder, Taber & Grinder Inc.
67. Shops at Rock Creek Sell for $4.4 Million
- Wednesday, August 25, 2010
The Shops at Rock Creek, a two-building, 61,000-square-foot strip shopping center built on two parcels in 2006, has sold for $4.4 million.
The buyers are Southstar Holdings UNCC LLC, with a 65 percent interest, and RC Memphis LLC, with a 35 percent interest. The seller is Wells Fargo Bank NA, acting as trustee for Morgan Stanley Capital I Inc., commercial mortgage pass-through certificates series 2006-IQ12. The buyers financed the purchase with a $3.4 million loan through First Tennessee Bank NA.
68. Morgan Stanley Fined Over Research Disclosures
- Wednesday, August 11, 2010
NEW YORK (AP) — Morgan Stanley was fined $800,000 Tuesday by the Financial Industry Regulatory Authority over failures to adequately disclose potential conflicts of interest in its analyst research notes.
69. Market Slump Expected to Dent Profits at Big Banks
- Wednesday, July 14, 2010
NEW YORK (AP) — The bank industry's earnings winning streak may be over.
A terrible spring in the financial markets is expected to leave the nation's big banks with second-quarter earnings that fall short of their stellar results from the first three months of the year. That's bad news for companies that relied on trading profits to mask a still-miserable banking climate with high losses from failed loans and low demand for credit.
70. Freddie Mac Executive VP Dismissed
- Tuesday, June 29, 2010
MCLEAN, Va. (AP) — Freddie Mac has announced one of its executive vice presidents was fired last week.
In a regulatory filing Friday, the mortgage finance company gave no reason for Michael Perlman's "termination."
71. 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.
72. 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.
73. Treasury Announces Plans for First Citigroup Sale
- Tuesday, April 27, 2010
WASHINGTON (AP) — The Treasury Department said Monday that it plans to sell up to 1.5 billion shares of Citigroup stock, its latest move to unwind the support it provided big banks during the financial crisis.
74. Morgan Stanley's Profit of $1.41B Tops Forecasts
- Thursday, April 22, 2010
NEW YORK (AP) - Morgan Stanley reported Wednesday its first-quarter profit surged to $1.41 billion on strong results from its trading operations. The investment bank easily topped analysts' expectations.
75. 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.
76. Treasury Says It Will Begin Selling Citi Shares
- Tuesday, March 30, 2010
NEW YORK (AP) - The U.S. Treasury Department reported Monday it will begin selling the stake it owns in Citigroup Inc., which could result in a profit to the government of about $7.5 billion.
77. Morgan Keegan Earns Industry Distinctions
- Friday, February 26, 2010
Morgan Keegan & Co. since 2006 has almost doubled its number of public finance bankers and has been making a big push into new markets that are hotbeds of municipal bond activity.
78. Report: Wall Streeters Received $20B in Bonuses in 2009
- Wednesday, February 24, 2010
ALBANY, N.Y. (AP) — Employees at Wall Street financial firms collected more than $20 billion in bonuses in 2009, the year after taxpayers bailed out the financial sector amid the economic meltdown, New York state Comptroller Thomas DiNapoli said Tuesday. The payouts were about 17 percent higher than the previous year's bonuses.
79. ALL BUSINESS: Strong Dollar Hurts U.S. Exports
- Monday, February 15, 2010
NEW YORK (AP) - Ben Bernanke and Tim Geithner keep saying that they support a strong dollar. Now that we have it, they should eat their words.
The dollar has surged to an 8-month high against the euro, and is also rising against other major currencies. If it keeps strengthening, that could damage the already fragile U.S. economic recovery.
80. Bank CEOs: Sorry for Risky Behavior, Bad Decisions
- Thursday, January 14, 2010
WASHINGTON (AP) - Wall Street executives said Wednesday they underestimated the severity of the 2008 financial crisis and apologized for risky behavior and poor decisions. They also defended their bonus and compensation practices to a skeptical commission investigating what caused the collapse.
81. String of Investment Bubbles Marked 2000-09
- Monday, January 04, 2010
NEW YORK (AP) - A string of exploding investment bubbles that started with the dot-coms and ended with mortgages and oil dominated the years from 2000 to 2009. And it looks like the next decade will be no different.
82. Citigroup to Repay $20 Billion in Bailout Money
- Tuesday, December 15, 2009
NEW YORK (AP) - Citigroup reported Monday it is repaying $20 billion in public bailout money, freeing the banking giant from the close scrutiny and pay restrictions that came with the rescue program. The government will also sell its stake in the company.
83. Morgan Stanley Names New CFO, Other Top Managers
- Wednesday, December 09, 2009
NEW YORK (AP) - Morgan Stanley elevated its chief financial officer to a new role as co-chief of investment banking and global securities trading Tuesday as part of a management shake-up ahead of James Gorman's assumption of the CEO role on Jan. 1.
84. Morgan Stanley Posts First Profit of Year
- Thursday, October 22, 2009
NEW YORK (AP) - Morgan Stanley returned to profitability for the first time in a year as income from its investment banking operations offset losses in commercial real estate.
85. Hacks Cross Center Sold Back to Bank
- Wednesday, October 14, 2009
The Shoppes at Misty Meadows, a two-parcel retail center at 3800 Hacks Cross Road in Southeast Shelby County, sold back to its lender Friday for $2.6 million in a substitute trustees’ sale. The seller was R. Spencer Clift III of the law firm Baker, Donelson, Bearman, Caldwell & Berkowitz PC.
86. Bondholders Committee, Board OK CIT Restructuring
- Monday, October 05, 2009
NEW YORK (AP) - Struggling CIT Group Inc. has launched a debt restructuring effort it hopes will trim at least $5.7 billion from its balance sheet, but also is asking bondholders to approve a prepackaged reorganization plan in case it is forced to file for Chapter 11 bankruptcy protection.
87. 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.
88. 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.
89. Hacks Cross Center Foreclosed, to be Sold
- Friday, September 04, 2009
The Shoppes at Misty Meadows, a two-parcel retail center at 3800 Hacks Cross Road in Southeast Shelby County, has been foreclosed and will be sold in a substitute trustees’ sale, according to a notice that appears on Page 40 of today’s print edition of The Daily News and also at The Daily News Online, www.memphisdailynews.com.
90. Report: Bank of America Offering to Repay Some Aid
- Wednesday, September 02, 2009
CHARLOTTE, N.C. (AP) - Bank of America Corp. is looking to pay back some of the billions in federal bailout aid it has received in an effort to get out from underneath the government's thumb, according to a published report.
91. Citigroup Sells Stake in Japanese Asset Manager
- Friday, July 31, 2009
NEW YORK (AP) - Citigroup Inc. said Thursday it is selling its entire majority stake in a Japanese asset management company to The Sumitomo Trust and Banking Co Ltd. for about $795 million.
The bank is selling its 64 percent stake in Nikko Asset Management for 75.6 billion yen as part of its ongoing plan to reduce its holdings in Japan, and amid an overhaul of its worldwide operations.
92. Morgan Stanley Posts Q2 Loss of More Than $1.2B
- Thursday, July 23, 2009
NEW YORK (AP) - Morgan Stanley said Wednesday it lost more than $1.2 billion during the second quarter as it took a charge to repay government bailout money. The investment bank was also hurt for a second straight quarter by the improving value of its own debt.
93. Some Bailout Firms Up Lobbying Spending in Q2
- Wednesday, July 22, 2009
WASHINGTON (AP) - As Congress spent much of the last three months looking at ways to tighten regulations on financial institutions, some of the biggest recipients of the government's $700 billion bailout increased their spending on influencing legislators.
94. Caterpillar Q2 Profit Falls 66 Pct on Weak Demand
- Wednesday, July 22, 2009
Caterpillar Inc.'s second-quarter profit tumbled on slumping sales of heavy equipment and the cost of staff cuts, but it saw signs that the global economy is starting to stabilize after a prolonged slide.
95. Morgan Stanley Paying $500K in Settlement with SEC
- Tuesday, July 21, 2009
WASHINGTON (AP) - Morgan Stanley on Monday agreed to pay a $500,000 penalty to settle federal regulators' charges that it misled customers in its Nashville office about the money management firms it recommended and from which it received commissions.
96. Citigroup Profit Soars on Smith Barney Sale
- Monday, July 20, 2009
NEW YORK (AP) - Citigroup Inc. surprised Wall Street Friday, reporting a $3 billion second-quarter profit instead of the big loss analysts expected.
97. CIT Shares Jump as Lender Seeks Rescue Financing
- Monday, July 20, 2009
NEW YORK (AP) - CIT Group Inc.'s shares doubled Friday as the commercial lender held talks with several large banks about securing emergency financing in hopes of avoiding a bankruptcy filing.
98. Appeals Loom in GM Plan to Sell Assets
- Wednesday, July 08, 2009
NEW YORK (AP) - Groups representing plaintiffs in car accidents said Monday they would oppose General Motors' attempt to quickly exit bankruptcy protection, arguing that hundreds of victims could be hurt by the government-led plan.
99. Australian Co. Could Buy MGM Mirage Casinos
- Thursday, July 02, 2009
An article in The Australian this week quotes Merrill Lynch gaming analyst Daniel Renshaw as speculating that Crown, which has gambling operations in Australia, is a strong candidate to buy casinos that MGM Mirage is selling.
100. TV Ad at Center of FedEx, UPS Feud
- Thursday, July 02, 2009
Shipping rivals FedEx Corp. and UPS Inc. will be back in Memphis federal court July 13 for a routine scheduling conference related to a lawsuit over a television commercial.