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First State Writes off Goodwill, Strengthens Balance Sheet, and Remains Well Capitalized (Finanzen.net)

July 24th, 2008

First State Bancorporation (NASDAQ:FSNM): OVERVIEW: Non-cash goodwill write-off of $127.4 million. Increase in allowance for loan losses to 80% of non-performing loans. Loss for the quarter of $118.3 million and $114.4 million year to … Read…

Sydney, Australia-based Rubicon America Trust has agreed to sell a 14-property U.S. portfolio totaling nearly 3.1 million square feet to real estate investment firm UrbanAmerica for US$515 million. Under the purchase agreement, New York City-based… Read…

Rubicon Sells Half of U.S. Portfolio For $515M (CoStar Group)

July 24th, 2008

Sydney, Australia-based Rubicon America Trust has agreed to sell a 14-property U.S. portfolio totaling nearly 3.1 million square feet to real estate investment firm UrbanAmerica for US$515 million. Under the purchase agreement, New York City-based… More…

Rubicon Sells Half of U.S. Portfolio For $515M (CoStar Group)

July 24th, 2008

Sydney, Australia-based Rubicon America Trust has agreed to sell a 14-property U.S. portfolio totaling nearly 3.1 million square feet to real estate investment firm UrbanAmerica for US$515 million. Under the purchase agreement, New York City-based… More…

First State Bancorporation (NASDAQ:FSNM): More…

First State Bancorporation (NASDAQ:FSNM): OVERVIEW: Non-cash goodwill write-off of $127.4 million. Increase in allowance for loan losses to 80% of non-performing loans. Loss for the quarter of $118.3 million and $114.4 million year to … More…

Concerns over Japanese real estate developers are mounting after the widening credit crunch last week claimed its latest victim. More…

Israeli stocks trade broadly higher, led by bank shares as well as Teva Pharmaceutical Industries, while a number of major names in technology rose sharply and real-estate companies leaped. More…

(ARA) - If you’re like most Americans, then your greatest asset is your home. But with recent declines in home values, it may be time to consider options for preserving your home’s value. More…

Collateralized Damage: Commercial Mortgage Securities Are at a Standstill (Knowledge at Wharton)

July 23rd, 2008

Media outlets and regulators have scrutinized the securitization of risky residential mortgages for their role in the global credit crunch. Less attention has been paid to their less-risky cousin, the commercial mortgage-backed securities (CMBS) market, which has been tarnished by problems on the residential side. Despite their superior fundamentals, says one Wharton professor, the CMBS market … Read…

MINNEAPOLIS—-Ameriprise Financial, Inc. today reported net income of $210 million for the quarter ended June 30, 2008, a 7 percent increase from $196 million in the prior-year quarter. Read…

Fitch Ratings-London-21 July 2008: This announcement corrects the version published on 18 July 2008. In the second paragraph, the loans are secured by real estate in Switzerland and Germany, and not in Switzerland and France as previously stated. Read…

OAK Financial Corporation (OTCBB:OKFC), a West Michigan-based bank holding company, reported second quarter net income of $1,199,000, down 32% from the $1,752,000 reported in the second quarter of 2007. Basic and diluted earnings per share in the second quarter of 2008 were $0.44, a decrease of 32% from the $0.65 reported for the second quarter of 2007. On a year-to-date basis, net income and … Read…

Israeli stocks trade broadly higher, led by bank shares as well as Teva Pharmaceutical Industries, while a number of major names in technology rose sharply and real-estate companies leaped. Read…

(ARA) - If you’re like most Americans, then your greatest asset is your home. But with recent declines in home values, it may be time to consider options for preserving your home’s value. Read…

Kevin Wessell, a renowned and highly respected expert in the field of asset protection and estate planning, and who heads Los Angeles - based Offshore Company , said today that The Cook Islands (South of Hawaii) provides what he believes to be the best offshore asset protection trusts available today. If you want to protect your assets from being taken away by a lawsuit, this is your best … Read…

Sydney, Australia-based Rubicon America Trust has agreed to sell a 14-property U.S. portfolio totaling nearly 3.1 million square feet to real estate investment firm UrbanAmerica for US$515 million. Under the purchase agreement, New York City-based… Read…

WESTBURY, N.Y.—-New York Community Bancorp, Inc. today reported second quarter 2008 operating earnings of $75.1 million, representing a linked-quarter increase of $4.9 million and a $3.3 million increase year-over-year. Read…

PRESS RELEASE: Correction: Fitch: Foundation CMBS Final Ratings (Nasdaq)

July 23rd, 2008

Fitch Ratings-London-21 July 2008: This announcement corrects the version published on 18 July 2008. In the second paragraph, the loans are secured by real estate in Switzerland and Germany, and not in Switzerland and France as previously stated. Continue…

Sydney, Australia-based Rubicon America Trust has agreed to sell a 14-property U.S. portfolio totaling nearly 3.1 million square feet to real estate investment firm UrbanAmerica for US$515 million. Under the purchase agreement, New York City-based… Continue…

(ARA) - If you’re like most Americans, then your greatest asset is your home. But with recent declines in home values, it may be time to consider options for preserving your home’s value. Continue…

WESTBURY, N.Y.—-New York Community Bancorp, Inc. today reported second quarter 2008 operating earnings of $75.1 million, representing a linked-quarter increase of $4.9 million and a $3.3 million increase year-over-year. Continue…

San Joaquin Bancorp (175097;OTCBB:SJQU), a bank holding company with $878 million in assets, today announced Continue…

OAK Financial Corporation (OTCBB:OKFC), a West Michigan-based bank holding company, reported second quarter net income of $1,199,000, down 32% from the $1,752,000 reported in the second quarter of 2007. Basic and diluted earnings per share in the second quarter of 2008 were $0.44, a decrease of 32% from the $0.65 reported for the second quarter of 2007. On a year-to-date basis, net income and … Continue…

Concerns over Japanese real estate developers are mounting after the widening credit crunch last week claimed its latest victim. Continue…

BYRON CENTER, Mich.—-OAK Financial Corporation , a West Michigan-based bank holding company, reported second quarter net income of $1,199,000, down 32% from the $1,752,000 reported in the second quarter of 2007. Continue…

Kevin Wessell, a renowned and highly respected expert in the field of asset protection and estate planning, and who heads Los Angeles - based Offshore Company , said today that The Cook Islands (South of Hawaii) provides what he believes to be the best offshore asset protection trusts available today. If you want to protect your assets from being taken away by a lawsuit, this is your best … Continue…

GM, utilities team on electric car San Jose, Calif. General Motors Corp. has joined with more than 30 utility companies across the U.S. to help work out electricity issues that will crop up when it rolls out new electric vehicles in a little more than two years. Continue…

Steps You Can Take To Preserve the Value of Your Home (Richfield Reaper)

July 23rd, 2008

(ARA) - If you’re like most Americans, then your greatest asset is your home. But with recent declines in home values, it may be time to consider options for preserving your home’s value. Read…

San Joaquin Bancorp (175097;OTCBB:SJQU), a bank holding company with $878 million in assets, today announced Read…

July 22 (Bloomberg) — Japan’s stocks rose, pushing the nation’s benchmark to its biggest gain in a month, after oil prices rose for the first time in five days, boosting the earnings prospects for explorers and trading companies. Read…

Concerns over Japanese real estate developers are mounting after the widening credit crunch last week claimed its latest victim. Read…

GM, utilities team on electric car San Jose, Calif. General Motors Corp. has joined with more than 30 utility companies across the U.S. to help work out electricity issues that will crop up when it rolls out new electric vehicles in a little more than two years. Read…

Sydney, Australia-based Rubicon America Trust has agreed to sell a 14-property U.S. portfolio totaling nearly 3.1 million square feet to real estate investment firm UrbanAmerica for US$515 million. Under the purchase agreement, New York City-based… Read…

Fitch Ratings-London-21 July 2008: This announcement corrects the version published on 18 July 2008. In the second paragraph, the loans are secured by real estate in Switzerland and Germany, and not in Switzerland and France as previously stated. Read…

PRESS RELEASE: Correction: Fitch: Foundation CMBS Final Ratings (Nasdaq)

July 23rd, 2008

Fitch Ratings-London-21 July 2008: This announcement corrects the version published on 18 July 2008. In the second paragraph, the loans are secured by real estate in Switzerland and Germany, and not in Switzerland and France as previously stated. More…

July 22 (Bloomberg) — Japan’s stocks rose, pushing the nation’s benchmark to its biggest gain in a month, amid confidence earnings will weather a global economic slowdown. More…

Concerns over Japanese real estate developers are mounting after the widening credit crunch last week claimed its latest victim. More…

July 22 (Bloomberg) — Japan’s stocks rose, pushing the nation’s benchmark to its biggest gain in a month, after oil prices rose for the first time in five days, boosting the earnings prospects for explorers and trading companies. More…

(ARA) - If you’re like most Americans, then your greatest asset is your home. But with recent declines in home values, it may be time to consider options for preserving your home’s value. More…

Sydney, Australia-based Rubicon America Trust has agreed to sell a 14-property U.S. portfolio totaling nearly 3.1 million square feet to real estate investment firm UrbanAmerica for US$515 million. Under the purchase agreement, New York City-based… More…

Boston Private Financial Holdings, Inc. (1536;NASDAQ:BPFH) (”Boston Private”) today announced More…

PRESS RELEASE: Correction: Fitch: Foundation CMBS Final Ratings (Nasdaq)

July 23rd, 2008

Fitch Ratings-London-21 July 2008: This announcement corrects the version published on 18 July 2008. In the second paragraph, the loans are secured by real estate in Switzerland and Germany, and not in Switzerland and France as previously stated. Continue…

July 15 (Bloomberg) — Martinsa-Fadesa SA was the largest Spanish developer to seek protection from creditors since the decade-long real estate boom ended last year and won’t be the last, according to Credito y Caucion , a Spanish credit insurer. Continue…

Boston Private Financial Holdings, Inc. (1536;NASDAQ:BPFH) (”Boston Private”) today announced Continue…

July 22 (Bloomberg) — Japan’s stocks rose, pushing the nation’s benchmark to its biggest gain in a month, amid confidence earnings will weather a global economic slowdown. Continue…

July 18 (Bloomberg) — Zephyr Co. , a Tokyo-based builder of condominiums, sought protection from creditors after sales of homes in the Japanese capital declined. Continue…

(ARA) - If you’re like most Americans, then your greatest asset is your home. But with recent declines in home values, it may be time to consider options for preserving your home’s value. Continue…

Zephyr Seeks Bankruptcy Protection on Tokyo Homes (Update3) (Bloomberg.com)

July 23rd, 2008

July 18 (Bloomberg) — Zephyr Co. , a Tokyo-based builder of condominiums, sought protection from creditors after sales of homes in the Japanese capital declined. Continue…

Timberland Bancorp, Inc. (”Timberland”), the holding company for Timberland Bank, today reported core operating earnings of $2.05 million, or $0.31 per diluted share for the fiscal third quarter ended June 30, 2008, exclusive of the previously announced non-recurring impairment charge of $2.82 million ($2.59 million after tax) resulting from the withdrawal of its investment in the AMF family of … Continue…

Concerns over Japanese real estate developers are mounting after the widening credit crunch last week claimed its latest victim. Continue…

July 15 (Bloomberg) — Martinsa-Fadesa SA was the largest Spanish developer to seek protection from creditors since the decade-long real estate boom ended last year and won’t be the last, according to Credito y Caucion , a Spanish credit insurer. Continue…

July 22 (Bloomberg) — Japan’s stocks rose, pushing the nation’s benchmark to its biggest gain in a month, amid confidence earnings will weather a global economic slowdown. Continue…

Fitch Ratings-London-21 July 2008: This announcement corrects the version published on 18 July 2008. In the second paragraph, the loans are secured by real estate in Switzerland and Germany, and not in Switzerland and France as previously stated. Continue…

(ARA) - If you’re like most Americans, then your greatest asset is your home. But with recent declines in home values, it may be time to consider options for preserving your home’s value. Continue…

Martinsa Seeks Bankruptcy Protection on Failed Loan (Update2) (Bloomberg.com)

July 22nd, 2008

July 15 (Bloomberg) — Martinsa-Fadesa SA was the largest Spanish developer to seek protection from creditors since the decade-long real estate boom ended last year and won’t be the last, according to Credito y Caucion , a Spanish credit insurer. Read…

Goodbye Gap. Hello glam. Water Tower Place is getting $35 million makeover, with about half of its 100 stores either new or newly remodeled. Read…

July 18 (Bloomberg) — Zephyr Co. , a Tokyo-based builder of condominiums, sought protection from creditors after sales of homes in the Japanese capital declined. Read…


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