Despite the unorthodox moves by the Federal Reserves to open the federal lending window higher and make it available for more cash starved financial companies, not just banks, news comes today that Citicorp offered stock which raised 4.5 billion. “The sale [of stock today] represents about 3 percent of Citigroup’s shares outstanding as of [...]

According to the S&P index, “the home price of 20 cities fell by 12.7 percent in February versus last year, the largest decline since its inception in 2001.” David Blitzer, chairman of the index committee at S&P said, “There is no sign of a bottom in the number” “noting that all 20 metro areas [...]

“U.S. bank failures could be on the rise as a weakening economy puts pressure on badly underwritten loans.” John Dugan, who is the comptroller of the currency for about 1700 national banks, said “the growing problems for lenders follows a period of almost four years in which no institution regulated by its agency had failed.” [...]

Rep. Barney Frank and Sen. Chris Dodd “calls for up to $300 billion in loan guarantees from the Federal Housing Administration to refinance loans that homeowners can’t afford as long as the original lender reduces the principal on the loan to 85% of the home’s current market value.”
“Backers say borrowers would get out from under [...]

Now that foreign governments (through their funds usually called sovereign wealth funds) have come to the financial rescue of the big banks and brokerage firms, like Citigroup, Merrill Lynch and Morgan Stanley, it has become necessary to also recapitalize the smaller US banks as the credit crisis widens. Today, a privet equity form is [...]

Although the economy remains relatively strong in Texas, businesses that rely on the national economy need to be paying close attention to the national scene.
In fact, it’s a good time for businesses of all types to review their contractual agreements and tighten up their internal controls to help ensure their business remains healthy.
1. Keep up [...]

On Friday, Frontier Airlines became the fourth airline to file for bankruptcy in the past month. Unlike the previous three – Aloha, ATA, and Skybus - Frontier plans to continue normal operations while it reorganizes, with no cancellations. Factors other than the rising fuel costs and credit crisis affecting all airlines were apparently [...]

Our office will be closed today in Memory of Robin Love Perkins McBride who passed away earlier this week.
“Robin was born June 29, 1959, in Lufkin and graduated from Southern Methodist University with majors in English and dance. She enjoyed a successful 15-year career with Neiman Marcus, primarily in its human resources department. She also [...]

With the declining dollar and values of corporate stock you might be encouraged to know that you can still offset some of your loss from a worthless stock. This means that the stock is totally worthless. You need to do some research to confirm this, however, because even if the stock is worth [...]

Sentinel Management Group, Inc., managed around $1.4 billion in funds for financial institutions and individuals. On August 17, 2007 Sentinel crumbed and filed for Chapter 11 bankruptcy protection in Chicago, Illinois. The firm is facing lawsuits from not only their clients but also the U.S. Securities Exchange Commission. Former top executives, Philip [...]