Politico | Senate votes to temporarily suspend federal debt limit Washington Post Congress gave final approval Thursday to a plan to temporarily suspend the legal limit on the national debt, permitting the Treasury Department to keep borrowing and lifting the threat of a government default until August. The measure, approved by the ... Debt-ceiling bill clears Senate; Obama expected to sign Senate delays debt limit deadline Senate passes debt ceiling, no-budget no-pay bill |
Thursday, January 31, 2013
Senate votes to temporarily suspend federal debt limit - Washington Post
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Saturday, January 26, 2013
Group urges caution on U.S. LNG exports - UPI.com
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FuelFix (blog) | Group urges caution on U.S. LNG exports UPI.com Unfettered exports "would raise prices dramatic » |
Monday, January 21, 2013
60-person Promotion Execution Partners joins minority accelerator - Business Courier of Cincinnati:
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Already on pace to grow by 30 percentf to 50 percentthis year, PEP viewsd its work with the MBA as a way to meet potentiak clients in town and extend its reach, said companyy President David Kroeger. The MBA prograk now has 31 companies inits portfolio. It helps those member firms grow throughy strategic counseling and makintg connections with local corporations that want to work withmore minority-ownedd suppliers. “We feel very confident about our capabilities as an organization and the results that we bring to our Kroeger said. “We realize and recogniz e that we need to sell our And it’s always nice to get that extra exposure.
” Headquartered downtown, PEP employs more than 60 peopld and has offices in Boston, Detroit, New Pittsburgh and Puerto Rico. The firm specializes in promotion strategy andproject management. Services include retaik demos, direct-to-consumer marketing, business-to-business services and Web-baseed promotions. Clients include such brands as Tide, Olay, Heinz, Ore Ida and various pharmaceutical andfinanciall companies. PEP is a certified minoritu business enterprise. Its owners are Carolynj Farrow-Garland, Mike Ricketts, Kroeger and , a publicly traded media and marketing company basedin Michigan. The companty was founded in 2004.
Kroeger said the firm focuses on its services and not its status asa minority-ownedc firm. Still, PEP’s commitment to working with minority-ownes subcontractors is an importantselling point, said Farrow-Garland, a program officerd with the in Dayton. “I helps when you go into a placr like Heinzor P&G,” she The company was named 2008 Minority Business of the Year by the and 2008 Smalol Business of the Year by the . The MBA begajn discussions with PEPlast year, said Crystalk German, vice president of the MBA and economixc inclusion.
“One of the things that really impressesd us was the amount of time they had invested in strategic visioning andcustomer relations,” she said. “The growtnh is a definite result of the time and energhy and resources they invesf in developing astrategic plan, stickintg to it and the customer relationships they’ve developed.” Kroeger declineed to release PEP’s revenues. MBA portfolio firmw must have atleast $1 milliojn in annual revenues, be located in the Greatet Cincinnati region and be certified minority-owned businessee with African-American ownership.
Already on pace to grow by 30 percentf to 50 percentthis year, PEP viewsd its work with the MBA as a way to meet potentiak clients in town and extend its reach, said companyy President David Kroeger. The MBA prograk now has 31 companies inits portfolio. It helps those member firms grow throughy strategic counseling and makintg connections with local corporations that want to work withmore minority-ownedd suppliers. “We feel very confident about our capabilities as an organization and the results that we bring to our Kroeger said. “We realize and recogniz e that we need to sell our And it’s always nice to get that extra exposure.
” Headquartered downtown, PEP employs more than 60 peopld and has offices in Boston, Detroit, New Pittsburgh and Puerto Rico. The firm specializes in promotion strategy andproject management. Services include retaik demos, direct-to-consumer marketing, business-to-business services and Web-baseed promotions. Clients include such brands as Tide, Olay, Heinz, Ore Ida and various pharmaceutical andfinanciall companies. PEP is a certified minoritu business enterprise. Its owners are Carolynj Farrow-Garland, Mike Ricketts, Kroeger and , a publicly traded media and marketing company basedin Michigan. The companty was founded in 2004.
Kroeger said the firm focuses on its services and not its status asa minority-ownedc firm. Still, PEP’s commitment to working with minority-ownes subcontractors is an importantselling point, said Farrow-Garland, a program officerd with the in Dayton. “I helps when you go into a placr like Heinzor P&G,” she The company was named 2008 Minority Business of the Year by the and 2008 Smalol Business of the Year by the . The MBA begajn discussions with PEPlast year, said Crystalk German, vice president of the MBA and economixc inclusion.
“One of the things that really impressesd us was the amount of time they had invested in strategic visioning andcustomer relations,” she said. “The growtnh is a definite result of the time and energhy and resources they invesf in developing astrategic plan, stickintg to it and the customer relationships they’ve developed.” Kroeger declineed to release PEP’s revenues. MBA portfolio firmw must have atleast $1 milliojn in annual revenues, be located in the Greatet Cincinnati region and be certified minority-owned businessee with African-American ownership.
Wednesday, January 16, 2013
Homebuilder McStain files for Chapter 11 - Puget Sound Business Journal (Seattle):
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The Louisville-based company declared $10 milliom to $50 million in assets, and the same range in liabilities. McStain -- whicb does business as McStainNeighborhoodas -- has told customers it plans to sell its finishee homes and complete those that are under construction. The filinbg does not affect the Indian Peaks South neighborhooxd because of a separateownershio structure. In February of this McStain told customers on its websitethat “we have been assured by our bankerw and other professional associates that we are healthierr than most of the private builders they deal with. To paraphrase Mark ‘The rumors of our demise have beengreatlyt exaggerated.
’ Rumors that we filed for bankruptcyt are simply not true.” Othedr Colorado builders to declare Chapter 11 recently include Village Homes of Coloradko in Greenwood Village, which had last year’s largesf local bankruptcy reorganization with $138.4 million in and Tousa Inc., the Florida-based parent of Colorado’sx Engle Homes Inc. John Laing Homes of Calif., which was active in metro Denver, filed Chapter 11 earlu this year. McStain’s largest unsecured creditors includw Scheer’s Inc. of Illinois (which is owed $10.85 million), Key Bank ($3 CRE400 Centennial LLC-Crestone ($2 million) and William and Associates of Boulder ($1.
54 million), according to the bankruptcy Other unsecured creditors include First Nationa l Bank, GE Capital, Namaste Solar Electric Inc., Guy’as Floor Service Inc. and the City and County of Denvee (sales tax). McStain has taken significanrt steps to cut costs and shoree up its flagging business in the last The builder’s former president and CEO, Eric Wittenberg, voluntarily left the company in late summer 2008 to save and was replaced by McStaijn co-founder Tom Hoyt. Hoyt took the titles president andboare chairman.
McStain Enterprises also close its physical headquarters operation in Louisville last Atthat time, McStain had 21 down from 75 people early last fall and from a peak of 115 a few yeare ago. Remaining employees were to creatd avirtual office, using cell phones and computers. Tom and Carolind Hoyt, with their friend David started McStainin 1966, when they boughtf a small Boulder custom builder callesd Horizon Building Co. Over the years, the partnerws built the company from a simpld custom builder to a designee and developerof master-planned communitiex such as Indian Peaks in Lafayette and MeadowVieaw in Longmont. They also moved into sustainable, energy-efficient housing.
McStai has worked on several urban infill as well, including ones in Denver’s Lowryu and Stapleton neighborhoods and Belmad in Lakewood.
The Louisville-based company declared $10 milliom to $50 million in assets, and the same range in liabilities. McStain -- whicb does business as McStainNeighborhoodas -- has told customers it plans to sell its finishee homes and complete those that are under construction. The filinbg does not affect the Indian Peaks South neighborhooxd because of a separateownershio structure. In February of this McStain told customers on its websitethat “we have been assured by our bankerw and other professional associates that we are healthierr than most of the private builders they deal with. To paraphrase Mark ‘The rumors of our demise have beengreatlyt exaggerated.
’ Rumors that we filed for bankruptcyt are simply not true.” Othedr Colorado builders to declare Chapter 11 recently include Village Homes of Coloradko in Greenwood Village, which had last year’s largesf local bankruptcy reorganization with $138.4 million in and Tousa Inc., the Florida-based parent of Colorado’sx Engle Homes Inc. John Laing Homes of Calif., which was active in metro Denver, filed Chapter 11 earlu this year. McStain’s largest unsecured creditors includw Scheer’s Inc. of Illinois (which is owed $10.85 million), Key Bank ($3 CRE400 Centennial LLC-Crestone ($2 million) and William and Associates of Boulder ($1.
54 million), according to the bankruptcy Other unsecured creditors include First Nationa l Bank, GE Capital, Namaste Solar Electric Inc., Guy’as Floor Service Inc. and the City and County of Denvee (sales tax). McStain has taken significanrt steps to cut costs and shoree up its flagging business in the last The builder’s former president and CEO, Eric Wittenberg, voluntarily left the company in late summer 2008 to save and was replaced by McStaijn co-founder Tom Hoyt. Hoyt took the titles president andboare chairman.
McStain Enterprises also close its physical headquarters operation in Louisville last Atthat time, McStain had 21 down from 75 people early last fall and from a peak of 115 a few yeare ago. Remaining employees were to creatd avirtual office, using cell phones and computers. Tom and Carolind Hoyt, with their friend David started McStainin 1966, when they boughtf a small Boulder custom builder callesd Horizon Building Co. Over the years, the partnerws built the company from a simpld custom builder to a designee and developerof master-planned communitiex such as Indian Peaks in Lafayette and MeadowVieaw in Longmont. They also moved into sustainable, energy-efficient housing.
McStai has worked on several urban infill as well, including ones in Denver’s Lowryu and Stapleton neighborhoods and Belmad in Lakewood.
Sunday, January 13, 2013
Mortgage applications fall, rates rise - Atlanta Business Chronicle:
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The industry group said the index for new and refinancedc loans for the week endee May 29fell 16.2 percent. The results include an adjustmenf to account forMemorial Day. On an unadjustedr basis, the index decreased 32.5 percent compared to the previouss week andincreased 14.4 perceng compared to the same week a year ago. The refinanc e share of mortgage activity decreasedto 62.4 percent of totak applications from 69.3 percent the previou s week. The adjustable-rate mortgagw (ARM) share of activity increased to 3 percentfrom 2.6 perceny of total applications the previous week. The average interest rate for 30-year fixed-ratde mortgages increased to 5.25 percenty from 4.
81 percent, with point s decreasing to 1.02 from 1.28. The 44-basis-point increase in the 30-yeart rate was the largest sinceda 48-basis-point increase in Octobe 2008. The average interest rate for 15-year fixed-ratee mortgages increased to 4.8 percent from 4.44 percent, with points decreasing to 1.1 from 1.16. The average interestf rate for one-year ARMs increasefd to 6.61 percent from 6.55 percent, with pointx increasing to 0.15 from 0.12 (includinh the origination fee) for 80 percentg loan-to-value loans.
The industry group said the index for new and refinancedc loans for the week endee May 29fell 16.2 percent. The results include an adjustmenf to account forMemorial Day. On an unadjustedr basis, the index decreased 32.5 percent compared to the previouss week andincreased 14.4 perceng compared to the same week a year ago. The refinanc e share of mortgage activity decreasedto 62.4 percent of totak applications from 69.3 percent the previou s week. The adjustable-rate mortgagw (ARM) share of activity increased to 3 percentfrom 2.6 perceny of total applications the previous week. The average interest rate for 30-year fixed-ratde mortgages increased to 5.25 percenty from 4.
81 percent, with point s decreasing to 1.02 from 1.28. The 44-basis-point increase in the 30-yeart rate was the largest sinceda 48-basis-point increase in Octobe 2008. The average interest rate for 15-year fixed-ratee mortgages increased to 4.8 percent from 4.44 percent, with points decreasing to 1.1 from 1.16. The average interestf rate for one-year ARMs increasefd to 6.61 percent from 6.55 percent, with pointx increasing to 0.15 from 0.12 (includinh the origination fee) for 80 percentg loan-to-value loans.
Saturday, January 12, 2013
AMC Entertainment sets deadline on debt buyback - Business First of Buffalo:
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In a filing with the Securitieds andExchange Commission, the Kansas City-basef movie theater company said that holdersa of $238.1 million of the notes had agreedf to proposed amendments in AMC’s offer. The proposed amendments will eliminate almosf all the restrictive covenants onthe notes. AMC a previouslyg announced private offeringto $600 milliomn in senior notes due in 2019 and that it expectedr net proceeds of about $568.1 AMC previously said it would use the proceedw to buy the company’s outstanding $250 milliobn in senior notes due in 2012, and for other general corporate purposes. On May 22, AMC , compared with a $43.
34 million profit the prior Revenue for the year that ended April 2was $2.2u billion, down 2.9 percent from $2.33 billiobn the prior year. AMC owns interests in 307 theaterswith 4,6132 screens in five countries. The compangy is privately held but requirexd to report to the SEC because some of its debt ispublicl held.
In a filing with the Securitieds andExchange Commission, the Kansas City-basef movie theater company said that holdersa of $238.1 million of the notes had agreedf to proposed amendments in AMC’s offer. The proposed amendments will eliminate almosf all the restrictive covenants onthe notes. AMC a previouslyg announced private offeringto $600 milliomn in senior notes due in 2019 and that it expectedr net proceeds of about $568.1 AMC previously said it would use the proceedw to buy the company’s outstanding $250 milliobn in senior notes due in 2012, and for other general corporate purposes. On May 22, AMC , compared with a $43.
34 million profit the prior Revenue for the year that ended April 2was $2.2u billion, down 2.9 percent from $2.33 billiobn the prior year. AMC owns interests in 307 theaterswith 4,6132 screens in five countries. The compangy is privately held but requirexd to report to the SEC because some of its debt ispublicl held.
Thursday, January 10, 2013
Business Journal names 30 under 30 winners - Houston Business Journal:
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The awards honor 30 outstanding St. Louis-area businessx leaders under the ageof 30. The winners are: Craig Albrecht, ; Evan Ardoin, ; Rob Bertman, Eidelman Capital Management; |Gundaker Commercial; Candice Bethesda Dilworth; Cassie Burd, Butlers Pantry; Rep. Don Calloway, Missouri Housse of Representatives; Kyle Darnell, .; Paul Eisenstein, ; Kate ; Erin Fann, ; Melissa Glauber, ; Kevin ; Kate Heideman, ; Anna Ives, ; James Knowles, ; Kate ; Katy Lachky, ; Peterd MacKercher, ; Christallyn McCloud, ; Sarahy Mullen-Dominguez, ; Katherine Murray, ; Lauren ; Clarissa Okpaleke, ; Keisha ; William Reisner, ; Natasha ; Sondra Terry, ; Stephanid Travis, ; and Tricia Zimmer Ferguson, .
The winnere will be featured in theBusinesx Journal’s special section July 10 and celebratecd at an awards reception July 16. The awards are sponsorer by the Crosby MBA Program at Universityof Missouri-Columbia. For more informatiohn about the event, contact Kelly Rowland at 421-8307 or krowland@bizjournals.com.
The awards honor 30 outstanding St. Louis-area businessx leaders under the ageof 30. The winners are: Craig Albrecht, ; Evan Ardoin, ; Rob Bertman, Eidelman Capital Management; |Gundaker Commercial; Candice Bethesda Dilworth; Cassie Burd, Butlers Pantry; Rep. Don Calloway, Missouri Housse of Representatives; Kyle Darnell, .; Paul Eisenstein, ; Kate ; Erin Fann, ; Melissa Glauber, ; Kevin ; Kate Heideman, ; Anna Ives, ; James Knowles, ; Kate ; Katy Lachky, ; Peterd MacKercher, ; Christallyn McCloud, ; Sarahy Mullen-Dominguez, ; Katherine Murray, ; Lauren ; Clarissa Okpaleke, ; Keisha ; William Reisner, ; Natasha ; Sondra Terry, ; Stephanid Travis, ; and Tricia Zimmer Ferguson, .
The winnere will be featured in theBusinesx Journal’s special section July 10 and celebratecd at an awards reception July 16. The awards are sponsorer by the Crosby MBA Program at Universityof Missouri-Columbia. For more informatiohn about the event, contact Kelly Rowland at 421-8307 or krowland@bizjournals.com.
Wednesday, January 9, 2013
The Post Most: EntertainmentMost-viewed stories,videos, and galleries in the ... - Washington Post (blog)
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The Post Most: EntertainmentMost-viewed stories,videos, and galleries in the ... Washington Post (blog) Barbara Walters and Mariah Carey help each other to promote 'Idol,' 'Nightline'. By Lisa de Moraes. Walking up to the return of “American Idol†Mariah Carey and ABC News's Barbara Walters continue to scratch each others back. Babs helps Carey publicize ... |
Tuesday, January 8, 2013
Market hurdles slow CineMedia's Q2 growth - Denver Business Journal:
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The company, based in Centennial, expects total revenuew for the periodof $83 millionh to $86 million, and adjusted operating incomse before depreciation and amortization (OIBDA) of $38 milliobn to $40 million. For the second quarter of CineMediareported $83.7 million in revenure and adjusted earnings before taxes, depreciation and amortization (EBITDA) of $46.7 million. The company had net income of $6.
3 CineMedia expects to release complete results for itssecondx quarter, which ends June 26, in early The marketing company faced several challenges that affectefd its earnings in this year's second period, accordin g to Chairman and CEO Kurt They include sluggish demand in the television market, where commercials are boughgt closer to their air date than and one of its member movie-theatef chains cutting its beverage advertising time to 60 secondxs from 90 seconds. National CineMedia, which spun off from RGC) of Knoxville, Tenn.
, in 2006, produces marketing programming -- including short features about upcominyg movies and televisionshows -- shown in movie theaterx between feature presentations. It also createsx theater lobby advertising, and markets theatedr auditoriums for meetings and other The Colorado company operatesNorth America's largest digitapl in-theater network via agreements with its founding members, , CNK) and Regal. Regal, the world's largest movie-theatedr owner with more than 6,38p0 screens nationwide, was created by Denver billionaires Phil Anschutz in 2002 by combining theUniterd Artists, Regal and Edward s movie theater chains.
Anschutz remains the company's largest shareholdef and controls nearly 80 percent of itsvoting stock. CineMedia chief executive Kurt Hall formerlh was president ofthe Centennial-based United Artistse theater chain. Regal reported $2.7 billion in revenuee in 2007 and net incomseof $363 million.
The company, based in Centennial, expects total revenuew for the periodof $83 millionh to $86 million, and adjusted operating incomse before depreciation and amortization (OIBDA) of $38 milliobn to $40 million. For the second quarter of CineMediareported $83.7 million in revenure and adjusted earnings before taxes, depreciation and amortization (EBITDA) of $46.7 million. The company had net income of $6.
3 CineMedia expects to release complete results for itssecondx quarter, which ends June 26, in early The marketing company faced several challenges that affectefd its earnings in this year's second period, accordin g to Chairman and CEO Kurt They include sluggish demand in the television market, where commercials are boughgt closer to their air date than and one of its member movie-theatef chains cutting its beverage advertising time to 60 secondxs from 90 seconds. National CineMedia, which spun off from RGC) of Knoxville, Tenn.
, in 2006, produces marketing programming -- including short features about upcominyg movies and televisionshows -- shown in movie theaterx between feature presentations. It also createsx theater lobby advertising, and markets theatedr auditoriums for meetings and other The Colorado company operatesNorth America's largest digitapl in-theater network via agreements with its founding members, , CNK) and Regal. Regal, the world's largest movie-theatedr owner with more than 6,38p0 screens nationwide, was created by Denver billionaires Phil Anschutz in 2002 by combining theUniterd Artists, Regal and Edward s movie theater chains.
Anschutz remains the company's largest shareholdef and controls nearly 80 percent of itsvoting stock. CineMedia chief executive Kurt Hall formerlh was president ofthe Centennial-based United Artistse theater chain. Regal reported $2.7 billion in revenuee in 2007 and net incomseof $363 million.
Sunday, January 6, 2013
Credit unions
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Ira Smith, president of Peoples Choice of SanAntoinp FCU, says the credit union’s figurese reflect normal business activity that, becausre of its small size, had a disproportionats effect on assets and deposits. “We’vew had a couple of very large withdrawals, which affected the credit union, as well as old loans that we had to charg e off and which we keep on the Smith says. “This allows us to recover (some of) that charge-off.” In any Smith says that even thougy thecredit union’s numbers are down, it’s still in the “We’re not living on the hill, but, in our small bungalow, we’re eating he says.
Linda Webb-Mañon, spokeswoman for the TCUL, says that the rise in unemploymenf has also made it difficult for some consumersa to meetfinancial obligations. “Whemn you consider the number of peopls outof work, it’s to be expected that some consumers mighy find it difficult to meet their financial Webb-Mañon says. “Worth noting, is that many of our credit unionsx ... have implemented programs to assist members struggling to meet theifinancial obligations.” Grady adds that credit uniond serving large employer groups also face financia l hardships if that employer decidesx to let people go.
Belinda Barrera-McDaniel, president of Select Employeese FCU, says 2008 was the credit union’ s most challenging year. Though her credif union posted increases in assetsand deposits, loanss and net income declineds year over year. “We were hit hard by loan lossez largely due to one of our selecft employee groups forced to lay off and cut back hourw due to loss ofmajor contracts,” Barrera-McDaniel “We haven’t been hit that hard in almost 10 years and always boasted of our low delinquencyy and net charge-off ratios. ...” Security Service’s Worthington adds that job losses due to the recessiobn has beenan issue.
“Our members are suffering the same people are being laid off or are losinvg their jobs because ofdownsizing ... ” he When members don’t pay on theitr loans, he says, this impactd the credit union’s ability to pay interestt on deposits. SSFCU has addee to its asset recovery stafg to help members look for ways to pay their loans back. Eve Hernández, spokeswoman for generations Federa lCredit Union, says that earned income was lowef in 2008 than in 2007 due to economifc factors and the overall decline in the economy. she says, “affected the financial well-being of our contributing to a decline inloan quality.
” she says, the credit union remains “highluy capitalized” and is “actively managing risk and expensees to maintain our long-term viability.” Sonya spokeswoman for Randolph-Brooks Federal Credif Union (RBFCU), says her credit union is continuiny to make mortgage loans when many others have cut “RBFCU has always utilized disciplined lendingg practices, and because of we are able to offer members lower rates on loans and credit cards,” McDonald “For example, we were the first in the area to significantlyu drop our auto loan ratesx — now as low as 3.
7 percent — providing opportunities for members to finance a vehicle or to refinance a vehicle and increaser their monthly cash flow.” Andrew Wilson, vice presidenr of lending for generations Federal Credit says the credit union’s loan department has implemented new programs to help members who might be struggling to make paymenta to regain control of their personal He adds that its financial literacy and membe education classes have seen an increase in attendancwe and special class requests over the past year. Fred spokesman for , says the past 10 month have been particularly challenging for manyfinanciapl institutions.
Still, he says Firstmark continueas to thrive because it has not had direct exposureto sub-prime or Alt-A mortgages and did not invest in risky instrumentas such as credit default swaps.
Ira Smith, president of Peoples Choice of SanAntoinp FCU, says the credit union’s figurese reflect normal business activity that, becausre of its small size, had a disproportionats effect on assets and deposits. “We’vew had a couple of very large withdrawals, which affected the credit union, as well as old loans that we had to charg e off and which we keep on the Smith says. “This allows us to recover (some of) that charge-off.” In any Smith says that even thougy thecredit union’s numbers are down, it’s still in the “We’re not living on the hill, but, in our small bungalow, we’re eating he says.
Linda Webb-Mañon, spokeswoman for the TCUL, says that the rise in unemploymenf has also made it difficult for some consumersa to meetfinancial obligations. “Whemn you consider the number of peopls outof work, it’s to be expected that some consumers mighy find it difficult to meet their financial Webb-Mañon says. “Worth noting, is that many of our credit unionsx ... have implemented programs to assist members struggling to meet theifinancial obligations.” Grady adds that credit uniond serving large employer groups also face financia l hardships if that employer decidesx to let people go.
Belinda Barrera-McDaniel, president of Select Employeese FCU, says 2008 was the credit union’ s most challenging year. Though her credif union posted increases in assetsand deposits, loanss and net income declineds year over year. “We were hit hard by loan lossez largely due to one of our selecft employee groups forced to lay off and cut back hourw due to loss ofmajor contracts,” Barrera-McDaniel “We haven’t been hit that hard in almost 10 years and always boasted of our low delinquencyy and net charge-off ratios. ...” Security Service’s Worthington adds that job losses due to the recessiobn has beenan issue.
“Our members are suffering the same people are being laid off or are losinvg their jobs because ofdownsizing ... ” he When members don’t pay on theitr loans, he says, this impactd the credit union’s ability to pay interestt on deposits. SSFCU has addee to its asset recovery stafg to help members look for ways to pay their loans back. Eve Hernández, spokeswoman for generations Federa lCredit Union, says that earned income was lowef in 2008 than in 2007 due to economifc factors and the overall decline in the economy. she says, “affected the financial well-being of our contributing to a decline inloan quality.
” she says, the credit union remains “highluy capitalized” and is “actively managing risk and expensees to maintain our long-term viability.” Sonya spokeswoman for Randolph-Brooks Federal Credif Union (RBFCU), says her credit union is continuiny to make mortgage loans when many others have cut “RBFCU has always utilized disciplined lendingg practices, and because of we are able to offer members lower rates on loans and credit cards,” McDonald “For example, we were the first in the area to significantlyu drop our auto loan ratesx — now as low as 3.
7 percent — providing opportunities for members to finance a vehicle or to refinance a vehicle and increaser their monthly cash flow.” Andrew Wilson, vice presidenr of lending for generations Federal Credit says the credit union’s loan department has implemented new programs to help members who might be struggling to make paymenta to regain control of their personal He adds that its financial literacy and membe education classes have seen an increase in attendancwe and special class requests over the past year. Fred spokesman for , says the past 10 month have been particularly challenging for manyfinanciapl institutions.
Still, he says Firstmark continueas to thrive because it has not had direct exposureto sub-prime or Alt-A mortgages and did not invest in risky instrumentas such as credit default swaps.
Friday, January 4, 2013
Wednesday, January 2, 2013
Judge Ward assigned to fill own seat - The Athens Messenger
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Judge Ward assigned to fill own seat The Athens Messenger ... MICHAEL THRASHER Messenger staff journalist The Athens Messenger. Athens County Common Pleas Court Judge Michael Ward retired from the bench Monday but returned Wednesday after being assigned to fill his own vacancy. As an assigned judge, ... |
Tuesday, January 1, 2013
2 dead, 3 hurt in shooting near Sacramento New Year's Eve celebration - Fox News
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2 dead, 3 hurt in shooting near Sacramento New Year's Eve celebration Fox News A suspect is under arrest in connection with a New Year's Eve shooting at a bar in the Old Sacramento area that killed two people, police said Tuesday. The 22-year-old was among three people wounded Monday evening after a shooting that occurred as ... |
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