» Subscribe Today!
More of what you want to know.
The Daily News

Forgot your password?
TDN Services
Research millions of people and properties [+]
Monitor any person, property or company [+]

Skip Navigation Links
Search results for 'Gary Crittenden' | Search again
DeSoto Public Records:0
Shelby Public Records:0
West Tennessee:0
Middle Tennessee:0
East Tennessee:3

You must be a subscriber to see the full results of your search.

Please log in or subscribe below if you are not already a subscriber.

The Daily News subscribers get full access to more than 13 million names and addresses along with powerful search and download features. Get the business leads you need with powerful searches of public records and notices. Download listings into your spreadsheet or database.

Learn more about our services | Search again

Editorial Results (free)

1. Prosecutor: Police Justified in Shooting of Arkansas Teen -

LITTLE ROCK, Ark. (AP) – A black teenager pointed a BB gun that looked like a handgun at police before he was fatally shot by officers outside an emergency youth center in eastern Arkansas, a prosecutor said in announcing no charges would be filed against the officers.

2. Changing of the Guard -

Michael Ugwueke’s office at Methodist Le Bonheur Healthcare is a long way from his childhood years in war-torn Nigeria.

His earliest days in a country ravaged by civil war and the loss of a younger brother are part of the reason he eventually decided to pursue a career in medicine.

3. Lot Shortage Poses Next Roadblock -

Local homebuilders say a dearth of developed lots is slowing down the new housing rebound, weighing down an industry still trying to drag itself out of the rubble left by the worst recession in decades.

4. Crittenden Hospital, Methodist Reach Affiliation Agreement -

In an effort to better serve patients and foster financial stability, Crittenden Regional Hospital in West Memphis has entered into a new affiliation and consulting agreement with Methodist Le Bonheur Healthcare.

5. Special Coverage: Mid-South Flooding -

Coverage of the rising waters in the Memphis area

River Forecast to Crest at 48 Feet

County Emergency Preparedness officials said Monday afternoon they still expect the Mississippi River to crest on May 11.

6. Citigroup Paying $75M to Settle Civil Charges -

WASHINGTON (AP) – Banking titan Citigroup Inc. is paying $75 million to settle civil charges that it misled investors about its potential losses from subprime mortgages as the housing bust hit in 2007.

7. Citigroup Shuffles Executives, Former CFO Leaving -

NEW YORK (AP) - Citigroup Inc. shuffled its top management again Thursday, naming its third chief financial officer of the year and bringing in a new head of its Citibank division as it returns its focus to traditional banking.

8. Community Bankers Express Frustration With TARP -

James Lambright, the chief investment officer of the federal government’s Troubled Asset Relief Program, received a call earlier this year from Gary Crittenden, the former chief financial officer for Citigroup Inc.

9. Corbat Named CEO of Citi Holdings Unit -

NEW YORK (AP) - Citigroup Inc. on Monday took the "interim" out of Mike Corbat's title as chief executive of Citi Holdings, the business that includes the riskier assets at the big banking company.

10. Citigroup CFO to Become Citi Holdings Chairman -

Citigroup Inc. announced Friday that it tapped Chief Financial Officer Gary Crittenden to become chairman of the unit in charge of its riskier assets and tougher-to-manage ventures, the latest move in a massive management reshuffling at the struggling bank.

11. Financial Industry Weighs Impact of New Budget - What’s around the next corner for the banking industry is about to come into view.

The budget plan unveiled by President Barack Obama’s administration Thursday sheds some light on the future of the government’s controversial and seemingly opaque rescue effort for the financial system. To get an idea of the scope of the price tag thus far, the U.S. Treasury Department through the end of last week has spent more than $1.1 billion buying stock in 11 Tennessee banks from one corner of the state to the other.

That money was doled out as part of a $700 billion rescue effort that’s straddled two presidential administrations and which the Obama administration has signaled may have to be enlarged. The budget blueprint Obama officials released last week calls for setting aside a reserve of $250 billion on top of the $700 billion already allocated by Congress to the financial rescue.

“The existence of this reserve in the budget does not represent a specific request,” the budget plan said. “Rather as events warrant, the administration will work with the Congress to determine the appropriate size and shape of such efforts, and as more information becomes available the administration will define an estimate of potential costs.”

Figuring out the landscape

Local players in the banking industry are wondering what that means for them, as well as how rules for a new round of federal capital infusions into banks will affect them. The Obama administration also announced last week that it would begin “stress tests” of the nation’s largest banks to see how a prolonged economic slump will affect them and if they’ll need more capital to survive.

“Shortly before this Report was filed, the U.S. Department of the Treasury, the Federal Reserve Board, the (Federal Deposit Insurance Corp.) and the (Office of the Comptroller of the Currency) announced the initiation of a new Capital Assistance Program (CAP),” reads a regulatory filing made by Memphis-based First Horizon National Corp. Thursday. “Under the CAP, the capital needs of the major U.S. banking institutions are to be evaluated under a more challenging economic environment.

“If that assessment indicates a need for additional capital, the affected institution will be allowed to seek additional private capital and, failing that, may be required to issue mandatory convertible preferred shares to a government agency. … At this time it is not known whether the CAP applies to the Bank or the Corporation nor, if so, whether additional capital will be required or the terms upon which such additional capital may be issued.”

Meanwhile, the first part of the $700 billion shock treatment to the economy first set in motion by the Bush administration still has not run its full course. Cobbled together late last year at a time of broader upheaval in the housing market and the collapse of giant financial firms such as Lehman Brothers, the $700 billion effort was designed in part to spur banks to keep making loans to prevent a collapse of the economy.

To shore up bank balance sheets enough to do that, the government began buying preferred shares of stock in banks to give them immediate access to fresh capital. Of the $700 billion Congress approved for that effort, $250 billion was determined to be enough to cover all the money the government would send out to banks throughout the country that needed the money or could use it.

As of earlier last month, the government has finalized almost $196 billion worth of those transactions, meaning more banks have yet to get their capital boost.

More to come?

Greg Gonzales, commissioner of the Tennessee Department of Financial Institutions, told a panel of state lawmakers last month that 40 banks in Tennessee to date have applied for the federal aid, with fewer than a dozen of those applications having been accepted so far.

Tennessee’s commercial banks, which shed almost 3,000 full-time equivalent employees in 2008, collectively lost $260 million in net income last year, according to the FDIC. One Memphis-area banker said he was at a recent social function where Citigroup chief financial officer Gary Crittenden told him the economy was likely to remain in a broad slump through the end of this year, with unemployment numbers, among other things, continuing to rise.

The banking industry as a whole is thus in the process of trying to wrap its arms around new rules purportedly designed to help it regain its footing. Jackie Prester, a shareholder in the Memphis law office of Baker, Donelson, Bearman, Caldwell & Berkowitz PC, said that’s one of the biggest concerns she’s hearing right now.

“And a lot of my clients are asking me, ‘Even if we can get our arms around these new rules – and that’s tough – what assurance do we have they won’t change the rules completely next week?’” Prester said. “The biggest wildcard (I’m hearing) is, ‘What else is Congress going to legislate that makes it difficult for me as a bank to conduct business the way I normally conduct it?’”


12. Citigroup's Top 3 Executives Decline Bonuses -

NEW YORK (AP) - Citigroup's top three executives have passed up bonuses, as the banking giant works to return to profitability after five straight quarters of losses.

Chief Executive Vikram Pandit, Chairman Win Bischoff and Chief Financial Officer Gary Crittenden have declined incentive and retention awards that were offered to members of the bank's executive committee, Citigroup said in a filing Wednesday with the Securities and Exchange Commission.

13. Banks Wage Rate War for Deposits -

Banks across the U.S. are engaged in a heated competition for deposits as the battered industry tries to shore up its funding sources.

From giant Citigroup Inc. to tiny S&T Bancorp Inc. – which is based in Indiana, Pa. and has just 55 branches – banks are responding to uncertain times by sharply increasing the interest rates paid on deposits.

14. ANALYSIS: Consumers Showing Some Financial Fatigue Outside Mortgages Causing Concern -

NEW YORK (AP) - The malaise in the mortgage market is starting to spread to credit-card and auto loans in what one analyst has dubbed consumer credit "contagion." It's an ominous warning signal for the economy.

15. Citigroup Suffers 57 Percent Profit Drop in Third Quarter -

NEW YORK (AP) - Citigroup Inc. said Monday its third-quarter profit dropped 57 percent after the biggest U.S. bank took a hit of more than $3 billion in mortgage-backed security losses, leveraged debt write-downs, and fixed-income trading losses.