American Banker articles from August 2001

American Banker archives from August 2001

FDIC Says Thrift Seizure Preferable to a Fire Sale.(Brief Article)(Statistical Data Included)
August 1, 2001... The Federal Deposit Insurance Corp. defended its decision Tuesday to take control of $2.3 billion-asset Superior Bank FSB in Hinsdale, Ill., saying it was forced to do so because a planned bailout of the thrift had collapsed and there was no...

The Tech Scene: Small Biz Still Needs Reason To Bank Online.(Brief Article)
August 1, 2001... Small and midsize companies are just the types of customers banks want to move to online banking, and many bankers have high hopes that businesses will begin using the Web more and enjoying the service and convenience they get there -- while,...

TODAY'S NEWS.
August 1, 2001... First Union shareholders overwhelmingly approved the company's deal to acquire Wachovia, but the next vote is not expected to be so one-sided. Page 2 WASHINGTON A House subcommittee chairman may introduce legislation to limit the use...

AMERITRADE, WATERHOUSE SET SURVIVAL STRATEGIES.(Brief Article)(Statistical Data Included)
August 1, 2001... Two discount brokerages moved Tuesday to buffer themselves against the ravages of the market downturn, adding to the recent trend toward consolidation and layoffs. Ameritrade Holding Corp. of Omaha -- itself the recent subject of...

Competing in a Checking 'Free'-for-All.(Bank of America Corp. and Washington Mutual Inc.)(Brief Article)(Statistical Data Included)
August 1, 2001... Community banks are fighting to retain the heart of their business -- the checking account -- as bigger competitors win customers with the ultimate marketing tool, the word "free." The two banking companies with the broadest geographic...

How Chase Bank's Card Unit Got Quiet Makeover.(from Richard J Srednicki)(Statistical Data Included)
August 1, 2001... He doesn't do the conference circuit, he doesn't talk to the press much or give a lot of speeches, but everyone in the credit card business knows who he is and what he has done. Even the changes that Richard J. Srednicki has made since...

Executive Changes.(multiple company appointments)(Brief Article)
August 1, 2001... MIDWEST LaSalle Bank, a Chicago subsidiary of ABN Amro North America Inc., has hired Michael M. Bastian as a managing director in its corporate finance group, which provides merger and acquisition advisory services to clients involved in...

After 1st Union Landslide, Tight Wachovia Vote Seen.(First Union Corp and Wachovia Corp.)(Brief Article)(Statistical Data Included)
August 1, 2001... First Union Corp. chairman and chief executive G. Kennedy Thompson was smiling Tuesday after shareholders approved the merger agreement he struck in April with North Carolina rival Wachovia Corp. But Mr. Thompson, who has been reshaping...

Bankruptcy Panel Picks Imminent.(Brief Article)
August 1, 2001... House leaders were poised to name as early as Tuesday evening a contingent of lawmakers to serve on a bankruptcy legislation conference committee. The roster is expected to include House Financial Services Committee Chairman Michael Oxley,...

In Brief: Rep. Stearns of Fla. to Draft Privacy Bill.(Clifford Stearns)(Brief Article)
August 1, 2001... Privacy legislation that would further limit the uses of financial and medical information and preempt state and local laws could be introduced in the House as early as next month. "I intend to begin drafting legislative language addressing...

In Brief: N.H. Banking Commissioner Dies at 67.(Brief Article)
August 1, 2001... Longtime New Hampshire banking commissioner A. Roland Roberge, 67, died Saturday in Manchester after suffering a sudden illness. Mr. Roberge, who had headed New Hampshire's banking department since 1977, had been the state's longest-serving...

In Brief: FDIC Starts Confirmation Site for Brokers.(Federal Deposit Insurance Corp.)(Brief Article)
August 1, 2001... The Federal Deposit Insurance Corp. has started a Web site designed to help deposit brokers get faster confirmation that their investors' money is insured. The brokers typically deposit pools of investors' money in banks offering high...

International Bancshares of Tex. Acquiring National for $93.3M.(National Bancshares Corp.)(Brief Article)
August 1, 2001... International Bancshares Corp. of Laredo, Tex., the nation's largest minority-owned banking company, announced Tuesday that it had agreed to purchase National Bancshares Corp. of San Antonio for about $93.3 million in cash. Acquiring $606...

Spare Change: Wal-Mart Invades 2d Bank Territory.(Wal-Mart to cash tax rebate checks)(Brief Article)
August 1, 2001... First the "Golden Dollar," now tax rebate checks. Wal-Mart Stores, which rankled banks last year when it struck a deal with the U.S. Mint to distribute the new Golden Dollars, is running a promotion to cash tax rebate checks at no charge to...

Spare Change: Cosmopolitan Gets Ethereal.
August 1, 2001... Bankers are asked to help answer many questions every day. "Is there a God?" is usually not one of them. Yet, Cosmopolitan Bank and Trust lent resources to help answer that question and others on Friday and Saturday when it sponsored the...

Travelers Offers Second-to-Die Products.(Brief Article)
August 1, 2001... Travelers Insurance, a unit of Citigroup Inc., has introduced a second-to-die variable life insurance product, Travelers Variable Survivorship Life II. Buyers can invest in their choice of 37 vehicles, including bonds, domestic stocks, and...

Fixed Annuities Kept Jackson National's Bank Sales Climbing.(Brief Article)
August 1, 2001... "Thank God for fixed annuities," says Brad Powell, the president of Jackson National Life Insurance Co.'s institutional marketing group. Though Jackson's first-half bank sales of variable annuities plunged 58% from a year earlier, to $104...

In Brief: Affiliated Managers Buying 60% of Welch.(Brief Article)
August 1, 2001... Affiliated Managers Group Inc., an asset management company, announced Tuesday that it had agreed to acquire a 60% share of Welch & Forbes, a wealth management firm, for an undisclosed price. Both are based in Boston. Welch & Forbes manages...

In Brief: EnvestNet, SWS in Separate-Account Pact.(Brief Article)
August 1, 2001... EnvestNet will help advisers employed by or affiliated with SWS Securities Inc., a Dallas investment company, offer separately managed accounts to their clients. The arrangement was announced Monday. EnvestNet is an Internet company...

Quick's Cross-Sales Chief Focuses First on Databases.(Brief Article)
August 1, 2001... Stan Gregor, the Citigroup Inc. cross-selling executive who moved to Quick & Reilly last week, says it is crucial to stop bankers and brokers from fighting over "who owns the client." And integrating databases is one good way, he says. That...

In Brief: Subprime Prepay Rates Rose in June.(Brief Article)
August 1, 2001... Prepayment rates for subprime and high loan-to-value mortgages rose in June, Credit Suisse First Boston reported Tuesday. The average constant prepayment rate, or CPR, for subprime loans increased by 4 percentage points, to between 25% and...

In Brief: Fannie to Buy $50M Of Chase Loans.(Brief Article)
August 1, 2001... Fannie Mae, in a partnership with the National Urban League, announced Tuesday that it plans to purchase up to $50 million of mortgage financing from Chase Manhattan Mortgage Corp., a unit of J.P. Morgan Chase & Co., to help minority and...

In Brief: Hanover Blames Web Unit for Dip.(Brief Article)
August 1, 2001... Hanover Capital Mortgage Holdings Inc. on Tuesday reported a second-quarter net income of $699,000, or 17 cents a share, down 5% from the year-earlier period. The mortgage real estate investment trust attributed the drop to losses at...

In Brief: Training Firm to Buy Mortgage Broker.(Brief Article)
August 1, 2001... LSI Communications Inc., a communications and training company, announced Tuesday that it had reached an agreement to acquire Liberty Financial Group Inc., a mortgage brokerage licensed to do business in Arkansas, Texas, Wyoming, and Oklahoma....

Ruling May Hinder Groups' Efforts to Block Deals.(lawsuit ruled in favor of merger of Chase Manhattan Corp. and J.P. Morgan & Co.)(Brief Article)
August 1, 2001... As recent deals by financial heavyweights J.P. Morgan Chase & Co. and Citigroup Inc. have shown, consumer activists critical of banking companies and their lending policies can turn up the heat in a very public and often embarrassing way. ...

E-Banking Clients Troll at Online Brokers.(Brief Article)
August 1, 2001... Banks risk losing their older, affluent online customers to e-brokerages that offer more advice and simpler navigation, according to a report from Compete Inc. More than 44% of Internet banking customers with household incomes above...

Ratings on Card Issuers Reflect Downturn's Effects.(Brief Article)
August 1, 2001... Shares of major card issuers got mixed grades Tuesday as analysts tried to gauge the effects of rises in both layoffs and consumer credit delinquencies. Jennifer Scutti, an analyst at CIBC World Markets Inc., introduced coverage for five...

SEC: Analyst Conflicts Eroding Trust.(Securities Exchange Commission, Laura S. Unger)(Brief Article)
August 1, 2001... The interim head of the Securities and Exchange Commission criticized investment banks before a House panel Tuesday for permitting potential conflicts of interest that raise doubts about the objectivity of Wall Street analysts. Acting SEC...

Royal's Deal for Tucker Shows Falling Value of Independence.(Brief Article)
August 2, 2001... Regional brokerages that avoided selling out to larger companies during the merger frenzy of the last three years are facing a serious test of that decision as they try to weather a slowdown in capital markets. The robust revenues from...

Wamu and Dime Look Like Good Fit in Insurance Biz.(Washington Mutual Inc. to buy Dime Bancorp Inc.)
August 2, 2001... Washington Mutual Inc.'s deal to buy Dime Bancorp Inc. would unite two much-admired insurance operations with complementary strengths, Dime's in life and health products, Washington Mutual's in direct and cross-sales of property-casualty lines....

Superior Illustrates FDIC Reform Need: Johnson.(Superior Bank FSB's bankruptcy, Sen. Tim Johnson)(Brief Article)
August 2, 2001... Sen. Tim Johnson said on the eve of his deposit insurance reform hearing scheduled for today that the failure of $2.3 billion-asset Superior Bank FSB is proof that the system needs major changes. Sen. Johnson, a South Dakota Democrat and...

TODAY'S NEWS.(Brief Article)
August 2, 2001... FNB of Virginia has made a second deal to bolster its presence in the state's southwest sector. Page 3 WASHINGTON Large banks and thrifts charged much higher fees than their smaller counterparts last year, the Fed says. Page 4 ...

Dimon Says Acquire -- And the Sky Doesn't Fall.(James Dimon of Bank One Corp.)(Brief Article)
August 2, 2001... The conventional wisdom on Wall Street is that James Dimon has no business restarting the Bank One Corp. acquisition machine anytime soon. But that resistance may be weakening. Last week, as the Chicago company neared the completion of its...

Wells Joins Digital Wallet Dropout List.(Wells Fargo and Co.)(Brief Article)
August 2, 2001... Shortly after American Express Co. notified customers it was pulling the plug on its digital wallet, a second Internet-savvy financial services firm, Wells Fargo & Co., has announced it is doing the same. In an e-mail message last week,...

In Brief: FNB of Va. Has 2d Market-Building Deal.(buys Salem Community Bankshares Inc.)(Brief Article)
August 2, 2001... In a move that would bolster its presence in southwest Virginia, FNB Corp. of Christiansburg plans to acquire $240 million-asset Salem Community Bankshares Inc. of Salem for about $40 million in stock and cash. The $700 million-asset FNB...

In Brief: Citi Wealth Unit for Europe, Mideast, Africa.(Citigroup Inc.)(Brief Article)
August 2, 2001... Citigroup Inc. said Wednesday that it had formed a single wealth management division for its Europe, Middle East, and Africa region. The new division includes the Citigroup Private Bank offices in that region as well as Salomon Smith Barney...

In Brief: OTS Approval for AIG-American General.(American International Group to acquire American General Corp.)(Brief Article)
August 2, 2001... American International Group cleared one regulatory hurdle Wednesday to its $23 billion bid to acquire American General Corp. The Office of Thrift Supervision gave the New York insurance giant, which owns the thrift AIG Bank, approval to...

In Brief: Parkvale Deal in Southwest Pennsylvania.(Parkvale Financial Corp. to acquire Second National Bank of Masontown)(Brief Article)
August 2, 2001... Parkvale Financial Corp., the $1.4 billion-asset parent of Parkvale Bank, has agreed to acquire the Second National Bank of Masontown for approximately $36.8 million. Second National, which has $196 million of assets and five branches in...

In Brief: Delta Financial to Miss Coupon Payments.(Brief Article)
August 2, 2001... Delta Financial Corp. announced on Wednesday that it would not make the coupon payment due Aug. 1 on $150 million of 9.5% senior secured notes and 9.5% senior notes due in August 2004. Holders of the notes have been offered an opportunity...

In Brief: Bankruptcy Reform Conferees Appointed.(Brief Article)
August 2, 2001... A group of 32 House and Senate lawmakers are set to meet in early September to begin ironing out differences between bankruptcy overhaul bills each chamber passed independently in March. The core Judiciary Committee contingent among the 19...

In Brief: Pitt Confirmed as SEC Chairman.(Brief Article)
August 2, 2001... The Senate on Wednesday confirmed securities attorney Harvey Pitt to serve a five-year term on the Securities and Exchange Commission. President Bush has said he will elevate Mr. Pitt to SEC chairman. -- Compiled by Michele Heller ...

Fed Says Customer Fees Much Higher At Multistate Banks.(survey of banking fees and rates)(Brief Article)
August 2, 2001... Large banks and thrifts charged "significantly higher" fees than smaller institutions for many services last year, according to a Federal Reserve Board report issued Wednesday. For example, large, or multistate, organizations penalized...

In Brief.(New hires in the banking industry)(Brief Article)
August 2, 2001... MIDDLE ATLANTIC Commerce Bancorp in Cherry Hill, N.J., has hired Frank Sullivan as the senior risk consultant of its Commerce National Insurance Services Inc. Mr. Sullivan was a senior vice president at Frenkel & Co. Inc., a New York...

R.I. Bank Eyes Teen Travelers.(debit cards for teens)(Brief Article)
August 2, 2001... Bank Rhode Island Inc. of Providence has teamed up with another New England company to offer student travelers a prepaid debit card that is believed to be the first of its kind. Though there are other prepaid cards for teenagers, including...

Check Bouncers Getting 2nd Chance.(Checking accounts)(Brief Article)
August 2, 2001... Banks are teaming up with credit counseling groups and e-Funds Corp. to give problem check-bouncers another chance, under a merit program that could go national in the coming months.340b3lanier Scottsdale, Ariz.-based e-Funds, which runs...

In Brief: Citigroup Wins Contract For Calif.'s EBT System.(Citygroup, Inc. to delivery of food stamps via electronic benefits transfer system)(Brief Article)
August 2, 2001... The State of California has signed a long-awaited contract with Citigroup Inc. for the delivery of food stamps and public assistance benefits through an electronic benefits transfer system. With the contract signed late last week, Alameda...

In Brief: Visa Has Back-to-School Web Shopping Promotion.(Brief Article)
August 2, 2001... Visa U.S.A. has begun a promotion to build merchant Web site traffic during the back-to-school season. Between Aug. 1 and Aug. 31, each time cardholders use Visa card to make an online purchase at participating merchants they will be...

Principal Putting CPAs on Roster For Product Sales.(401 ks)(Brief Article)
August 2, 2001... Principal Financial Group, which has been expanding distribution through intermediaries, will launch a sales effort today using certified public accountants. The CPA Alliance program will provide information and the ability to sell...

Homeownership Marks Get Reserved Applause.(Minority home ownership)(Brief Article)(Statistical Data Included)
August 2, 2001... Record minority homeownership rates show that the industry's outreach efforts are working, but several observers say more has to be done. The Department of Housing and Urban Development reported last week that minority homeownership had...

USABancShares.com Hires Strategic Adviser.(Ryan, Beck & Co. )(Brief Article)
August 2, 2001... The embattled Web banking pioneer USABancShares.com Inc. has hired a financial adviser to help reshape its strategy after a private investment company backed away last week from a deal to purchase a controlling interest. The Philadelphia...

E-Shoppers: We Won't Pay for Security.(survey by Star Systems Inc. )(Brief Article)
August 2, 2001... One-fifth of Web shoppers have personally experienced fraud and nearly half would spend more if security were tightened, but few are willing to pay extra for software and other devices to get that added safety. Those were the chief...

S1 Results Top Forecast; Analysts Split.(Brief Article)(Statistical Data Included)
August 2, 2001... S1 Corp. beat earnings forecasts and had record revenues in the second quarter, but analysts gave the results mixed reviews. The Internet banking software firm reported Tuesday that it lost $34.4 million, or 58 cents a share, excluding charges,...

OFHEO Director Buffeted In Capital-Rule Hearing.(Armando Falcon, Office of Federal Housing Enterprise Oversight)(Brief Article)
August 2, 2001... If Armando Falcon, the director of the Office of Federal Housing Enterprise Oversight, was feeling a slight case of whiplash as he left congressional hearings on Wednesday, he could blame the barrage of mixed messages he had received from...

Corrections.(Correction Notice)(Brief Article)
August 2, 2001... In Tuesday's issue the page 1 story "Failure of Superior Turns Quickly into Blame Game" was mistaken in saying taxpayers will bear the cost of resolving the failure of Superior Bank, Hinsdale, Ill. The cost will be covered by the Saving...

Does Regionals' Success Mean Bearish Turn Ahead?(regional banking companies )(Brief Article)
August 2, 2001... Helped by falling interest rates and generally upbeat earnings, shares of regional banking companies have done well despite sluggish market conditions. But some analysts say they fear the group has done too well -- and that makes them wary. ...

150 Banks and S&Ls with Highest Ratios of Nonperformers.(Brief Article)
August 2, 2001... As a percentage of all loans on March 31; dollars in thousands Rank Holding company 1 American Bank Welsh, La. Community Bancorp of La. Raceland, La. 2 Eastern Savings Bank...

Back to Basics: Progress of Pa. Exiting High-Risk Ventures.(Progress Financial Corp.)(Brief Article)
August 3, 2001... After boldly going where few thrift companies its size had gone before -- namely, investing in tech start-ups and pre-profit companies -- Progress Financial Corp. of Blue Bell, Pa., has been quietly exiting higher-risk businesses and getting...

Battle For Wachovia: And Wachovia Goes to ...(First Union Corp. and SunTrust Banks Inc. seek acquisition)(Brief Article)
August 3, 2001... After a summer-long fight, First Union Corp. and SunTrust Banks Inc. are down to the moment of truth. At Wachovia Corp.'s annual meeting in Winston-Salem, N.C., today, shareholders will decide whether to accept an Easter Sunday merger...

DC Speaks: Where AARP and Its Votes Stand In Predator Fight.(Brief Article)
August 3, 2001... If you ask any lobbyist which groups get what they want in Washington, the American Association of Retired Persons would be among those at the top of the list. That influence now could be at odds with the goals of banking industry...

Sarbanes: Is Warning System Working?(Paul Sarbanes)(Brief Article)
August 3, 2001... Senate Banking Committee Chairman Paul Sarbanes called Thursday for a prompt investigation into the failure of $2.3 billion-asset Superior Bank FSB and said that he was "very much concerned" about the looming cost to the deposit insurance...

Hancock's CEO Is Up to The Hard Sell.(John Hancock Financial Services Inc.'s David D'Alessandro)
August 3, 2001... On display at John Hancock Financial Services Inc.'s annual meeting five years ago as a leading candidate for the presidency, David D'Alessandro, then the Boston company's senior executive vice president for retail sales, launched into a...

In Breif: President Named at U.S. Bancorp Unit.(Charles Moore)(Brief Article)
August 3, 2001... Firstar Finance Inc., a U.S. Bancorp division that provides alternative financing for real estate, auto, and installment loans, on Wednesday named Charles Moore president. Mr. Moore, who had worked at Centex Home Equity Corp. and earlier...

In Breif: B of A Branch Experiments Continue.(Bank of America nontraditional branch trial in Atlanta, GA)(Brief Article)
August 3, 2001... Bank of America Corp. has started four "express" branches in the Atlanta area in a continuing market test of nontraditional branch concepts. The branches, labeled Bank of America Express, have standard teller windows for basic transactions...

People.(includes brief articles)(Brief Article)
August 3, 2001... Dead Duck? National Discount Brokers' mascot, a boisterous mallard, may be headed for the chopping block now that its parent company, Deutsche Bank, has announced plans to sell the online discount brokerage unit to Ameritrade Holding Corp....

SEC, Bank Regulators Spar Over Brokerage Rule.(Securities and Exchange Commission )(Brief Article)
August 3, 2001... In the latest round of what promises to be a prolonged turf war, bank regulators squared off against a Securities and Exchange Commission official during a hearing Thursday on broker-dealer requirements for banking companies. The subject...

City Holding Will Cut Work Force 25%.(as part of cost restructuring)(Brief Article)
August 3, 2001... The $2.4 billion-asset parent of City National Bank of West Virginia said it would lay off as many as 275 employees -- over 25% of its work force -- to streamline operations and reduce expenses. The cuts, announced Tuesday, are expected to...

These Funds Follow Markets and Commandments.(morally responsible mutual funds)(Brief Article)
August 3, 2001... Independent mutual fund groups that manage "morally responsible funds," which screen companies by socially conservative measures of several kinds, are receiving increased visibility and distribution. Unlike the better-known "socially...

In Brief: Allstate Rebrands Workplace Insurer.(Brief Article)
August 3, 2001... Allstate Financial Group has adopted an Allstate-style marketing name for American Heritage Life Insurance Co., which it bought in 1999. The unit and its subsidiaries have started going by Allstate Financial Workplace Division to reflect...

In Brief: Hartford Chooses AnnuityNet Software.(Brief Article)
August 3, 2001... Hartford Life Inc. has installed an Internet-based annuity sales platform from AnnuityNet Inc. for its sales force. Using their desktop or laptop computers, Hartford's more than 1,700 broker-dealers and their representatives can get...

In Brief: Charges Cut Aon's Income by 77%.(Aon Corp. 2nd-quarter income)(Brief Article)
August 3, 2001... Aon Corp., the world's second-largest insurance broker, on Thursday reported second-quarter net income of $29 million, down 77.5% from a year earlier. The company cited special charges related to a restructuring and to investment losses....

Bankers Again Talking Up Smart Card Use in Stores.(Brief Article)
August 3, 2001... The marketing push for smart cards appears to have come full circle. U.S. bankers used to predict that chip cards would take root in traditional stores. Then, when they didn't, bankers predicted they would enjoy popularity as Internet...

Concord Taking Its MAC Brand Off the ATM Map.(Brief Article)
August 3, 2001... The MAC brand, whose familiar rainbow logo adorns many an automated teller machine, was quietly given a death sentence recently when the company that now owns it, Concord EFS, decided to consolidate all its ATM network operations under the Star...

In Brief: PinnFund Founder Surrenders Himself.(Michael J. Fanghella)(Brief Article)(Statistical Data Included)
August 3, 2001... A mortgage executive accused by the Securities Exchange Commission of stealing $109 million from investors surrendered himself to the U.S. Marshals Service on Wednesday morning. Michael J. Fanghella, 50, the founder and chief executive...

In Brief: Property Ownership Rates Fell for REITs.(commercial properties owned by public real estate companies)(Brief Article)(Statistical Data Included)
August 3, 2001... The percentage of U.S. commercial property owned by public real estate companies in 2000 dropped from a year earlier, despite the companies' rising share prices, according to a study released last week by Prudential Real Estate Investors. ...

Wireless Seen Fueling Broker-Driven Trades.(Brief Article)
August 3, 2001... The percentage of online stock trades driven by broker recommendations will skyrocket as obstacles to wireless e-commerce are resolved in the next few years, Jupiter Media Metrix predicts. Even by 2006, only about 3% of all online trades...

A Web Bank for Pet Lovers? Skeptics See Bark, No Bite.(Petloversbank.com)(Brief Article)
August 3, 2001... It has come to this: A California community bank aiming to pick up a national customer base has started a Web bank for pet owners. Instead of listing, say, its checking account rates or credit card products on its home page,...

A Top-Shelf Restaurateur's Recipe For Customer-Experience Excellence.(Thomas Keller)(Brief Article)(Column)
August 3, 2001... Thomas Keller is widely held to be the premier chef in America today. His Napa Valley restaurant, the French Laundry, offers not only superb food but also overall enchantment: The service is friendly, and the plates are all white so as not to...

Congress Deserves Blame For Superior Bank's Failure.(Brief Article)(Letter to the Editor)
August 3, 2001... Your article about Superior Bank ("Failure of Superior Turns Quickly into Blame Game," July 31, page 1) left an important player out of the game. It failed to give credit where credit is due -- to lay blame where it belongs. Congress is...

Hanging in Through the Tough Times Can Have a Big Reward in Auto Leasing.(Brief Article)(Statistical Data Included)
August 3, 2001... For the automobile leasing industry, these are the best and worst of times. For lenders experiencing losses on vehicle lease terminations, those losses are mounting at record levels. Historically, lenders that have suffered such setbacks...

Retail Operations' Worth Is Being Badly Undersold.(franchise banking)(Brief Article)(Column)
August 3, 2001... Retail franchise banking is suffering from the Rodney Dangerfield "I get no respect" problem. It comes from the perception that meager revenue growth keeps the business line from contributing enough to a company's P/E multiple. Our...

Amex Plan for Recovery Meets with Skepticism.(Brief Article)(Statistical Data Included)
August 3, 2001... After reporting heavy second-quarter losses in its junk bond portfolio, American Express Co. was out to restore confidence at its semiannual investor meeting. Analysts said management was more forthcoming at the meeting Wednesday than they...

In Brief: Panel OKs Retirement Advice Measure.(Brief Article)
August 3, 2001... A bill that would let financial services firms give investment advice to users of their retirement savings plans cleared the first in a long line of legislative hurdles Thursday. The measure, which would allow companies to advise workers...

In Brief: Commerce Bancorp. Forms Investment Bank.(Brief Article)
August 3, 2001... Commerce Bancorp. Inc. has formed a corporate investment bank, Commerce Equity Capital Markets. The new division, part of Commerce Capital Markets Inc., is headquartered in Philadelphia. Commerce said in a press release Wednesday that...

In Brief: Mortgage Index Falls to Lowest Since 1996.(Brief Article)(Statistical Data Included)
August 3, 2001... Mortgage Guaranty Insurance Corp. reported Thursday that its national market trends index fell more than 3% in the second quarter, to 7.22. The index is at its lowest level since the third quarter of 1996, when it stood at 7.01, according...