NEW YORK (Reuters) – Four top executives of Thornburg Mortgage (THMRQ.PK) improperly paid themselves handsome bonuses just before the mortgage lender filed for bankruptcy last year, and stole money and ideas from Thornburg to secretly launch a new firm, the bankruptcy trustee in charge of liquidating the lender alleged in a lawsuit. In an 82-page [...]
Archive for March, 2010
America: The Next Growth Economy
March 5th, 2010 
admin Warren Buffett described Berkshire Hathaway’s (NYSE: BRK-A – News; NYSE:BRK-B – News) acquisition of Burlington National Railroad as a long-term bet on the American economy. In his book The Next Hundred Million: America in 2050, author Joel Kotkin presents data that supports Buffett’s thesis, arguing that despite its current economic woes, the U.S. will remain [...]
Mortgage rates fall below 5 percent
March 5th, 2010 admin McLEAN, Va. – Mortgages rates have dipped below 5 percent again, four weeks before a government program that is helping keep rates low is scheduled to run out. The average rate on a 30-year fixed rate mortgage was 4.97 percent this week, down from 5.05 percent a week earlier, mortgage finance company Freddie Mac said [...]
MetLife near $15 billion deal for AIG unit
March 5th, 2010 admin NEW YORK (Reuters) – A tax question holding up American International Group Inc’s (AIG.N) sale of its foreign life insurance unit to MetLife Inc (MET.N) is expected to be resolved favorably, clearing the way for a roughly $15 billion deal, sources familiar with the matter said on Thursday. Timing on a deal for American Life [...]
Posted in Personal Finance 
Tags: AIG, MetLife, reinsurance, Robert Henrikson, Stock Exchange 
No Comments »Equity One reports jump in profit during 4Q
March 5th, 2010 admin NORTH MIAMI BEACH, Fla. – Shopping center owner Equity One Inc. said Thursday it posted a 71 percent increase in fourth-quarter funds from operations, reporting higher revenue and an income tax benefit. The company also released full-year results and provided guidance for the year. Equity One reported funds from operations, or FFO, of $24.6 million, [...]
