| Helping hand a complicated prospect
Q: I have a friend who lost his job and is now in danger of losing his home. He has a family and I would like to help him if I can. The money that I would lend him is money I have saved for retirement so I want to protect myself as best I can. He is telling me he needs $12,000 to get caught up on his mortgage and pay all the fees he is being charged. He is working again though he is making less than what he did before. I am not so sure this situation will not come up again. What is the best way to insure that if he ends up in foreclosure again, I will get paid the money I loaned him? A: The best way to insure that you will be paid is to have the legal title holders sign a note and mortgage and record the mortgage against the property. However, you must do some homework to determine if this is economically feasible.
Colombian Stocks Surge After Steel Sale: World's Biggest Mover
March 20 (Bloomberg) -- Colombia's main stock index had its biggest gain in more than two months on investor expectations that last week's sale of the nation's largest steelmaker will lead to more acquisitions. Colombia's IGBC index rose 336.83, or 3.2 percent, to 10,734.25, the biggest move among markets included in global benchmarks, and its biggest gain since Jan. 10. It was the first day of trading since Brazilian industrial group Grupo Votorantim agreed on March 16 to pay 1.08 trillion pesos ($493.8 million) for 52 percent of Acerias Paz del Rio SA. Shareholders, including company workers and the government's Industrial Promotion Institute, sold each of the 8.2 billion shares at 131.42 pesos, exceeding the 52 peso minimum bid. Colombia's peso rose to a six-year high today on expectations the sale will boost dollar inflows into the country.
QNB announces financial results for first quarter of 2007
H.E. Yousef Hussein Kamal, Chairman of Qatar National Bank (QNB) yesterday evening announced that the Bank continued its strong record of delivering improved profits to its shareholders as reflected in the results for the three months ended 31st March 2007. .
Analysts Initiate Fortress Investment With 'Buy' Rating
FP Trading Desk submits: After the stock skyrocketed from a starting point of US$18.50 per share on its first day of trading (Feb. 9), Fortress Investment Group LLC (FIG) shares dipped substantially with much of the market in March. However, the first private equity and hedge fund group to go public in the U.S. saw its shares climb US$1.71 to close at US$28.53 on Wednesday after Banc of America and Goldman Sachs initiated covered on the stock with ‘buy' ratings. Tuesday's announcement from Fortress that it declared a partial first quarter cash dividend of US$0.1225 per Class A share surely helped. While Banc of America analyst Michael Hecht has a US$35 price target on Fortress shares, Goldman's Marc Irizarry expects the shares to climb to $32.47.
Survey Reveals Concerns of Mid-size Companies
Company owners and senior managers are less optimistic about their companies' and industries' growth for the coming 12 months than they were last year, according to a study released today by the DAK Group Ltd. of Rochelle Park and Columbia Business School. The survey showed that 83 percent of respondents expect revenue to increase, down from 89 percent in 2006. From 2003 to 2006, the percentage of respondents that expected revenues to grow increased from 46 percent to 89 percent. On another down note, about 71 percent of respondents expect their respective industries to see revenue growth during the next year, falling from 79 percent in 2006. “In general, our clients have maintained a growth posture through Q1 2007, so we don't expect the door to close quickly on the robust M&A market," said Alan Scharftstein, president of the DAK Group, an investment bank specializing in mergers and acquisitions among mid-size companies.
Bristol County Savings Bank reports record growth at Annual Meeting
Bristol County Savings Bank is a $1.2 billion mutual savings bank founded in 1846, which is headquartered in Taunton, MA with 10 offices located in Eastern Massachusetts and Rhode Island.
[ClickPress, Tue Apr 10 2007] The year 2006 was another challenging, but successful year for the Bristol County Savings Bank. At the Banks Annual Meeting in March, 2007 Bank President E. Dennis Kelly, Jr. stated, 2006 was a special year for Bristol County Savings Bank as it marked our 160th year serving the banking needs of our community. Despite the fact that we were faced with a flat to inverted yield curve, we had one of the more successful years in the history of our Bank.
He noted that total assets grew at near record levels surpassing approximately $1.088 billion.
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