Investment News articles from January 2008

Investment News archives from January 2008

DARREN TEDESCO.(Special Report: Outlook 2008)
January 7, 2008... Byline: Davis D. Janowski DARREN TEDESCO, Director of business systems and strategic development, Commonwealth Financial Network, Waltham, Mass. Assets under management: $50 billion General outlook: The "baking'' of best...

KAREN TYLER.(Special Report: Outlook 2008)
January 7, 2008... Byline: Dan Jamieson KAREN TYLER, President, North American Securities Administrators Association, Washington North Dakota securities commissioner, Bismarck, N.D. General outlook: NASAA president Ms. Tyler is worried about how...

BRIAN KAZANCHY.(Special Report: Outlook 2008)
January 7, 2008... Byline: Sara Hansard BRIAN KAZANCHY, Wealth manager, investment committee chairman, RegentAtlantic Capital LLC, Chatham, N.J. Assets under management: $1.8 billion Forecast: Market conditions will be "fairly difficult,...

New regs, lawsuits help make annuities less restrictive; Simplified products seen as positive for industry and consumers.(Special Report: Outlook 2008)
January 7, 2008... Byline: Darla Mercado Last year marked a major shift for the insurance industry, as new regulations and a couple of lawsuits made annuity products less restrictive to investors. Industry experts predict that 2008 will be the year of...

BRIAN SMILEY.(Special Report: Outlook 2008)
January 7, 2008... Byline: Bruce Kelly BRIAN SMILEY, Executive vice president/president-elect, Public Investors Arbitration Bar Association, Norman, Okla. Partner, Smiley Bishop and Porter LLP, Atlanta, Georgia General outlook: Look for greater...

Stable value funds beat money market, bond funds over long-term; Stable value funds average 6.4% gain over past 19 years, says study.(News)
January 7, 2008... Byline: Ilana Polyak It might be tempting to retreat into the safety of money-market funds or certificates of deposits in times like these, but another investment could be better suited for such a flight to safety without sacrificing too...

Community investment goes mainstream; Firms carve out a small niche to support underserved areas.(News)
January 7, 2008... Byline: Deborah Nason Investing in disadvantaged communities is going mainstream, with a variety of investment vehicles springing up. A subset of socially conscious investing, community investment "directs capital from investors and...

Technology efforts this year might lure people to the web; Focus on integration of services and customized online applications.(Special Report: Outlook 2008)
January 7, 2008... Byline: Davis D. Janowski Online delivery of software tools and data to advisers will be the major focus of 2008 technology innovations, industry experts say. Service providers, including broker-dealers and custodians, as well as...

Change principal-trade rule with caution.(Viewpoint)
January 7, 2008... The Securities and Exchange Commission must carefully monitor its temporary proposed principal-trade rule, which took effect Sept. 30. It's obviously important to see whether the rule works because there are evidently some folks in the industry...

JOHN BURNS.(Special Report: Outlook 2008)
January 7, 2008... Byline: Brooke Southall JOHN BURNS, Chief executive, Burns Advisory Group, Oklahoma City, Okla. Assets under management: $350 million Forecast: The global economy is in good shape and stocks will do well, Mr. Burns said. He...

JOHN M. NOWICKI.(Special Report: Outlook 2008)
January 7, 2008... Byline: Dan Jamieson JOHN M. NOWICKI, President, LCM Capital Management Inc., Chicago Assets under management: $40 million Forecast: Mr. Nowicki is a contrarian. He's more optimistic about the economy than many experts, who...

Wealth management may face growing pains; 'Human capital' poses challenges.(Special Report: Outlook 2008)
January 7, 2008... Byline: Charles Paikert The wealth management business is still going gangbusters but may face growing pains this year. "There's been three years of really good times, and when it comes to the retail-investment business, the verdict is...

Boosting retirement income; Help clients increase income in non-traditional ways so assets can last longer.(Retirement Watch)
January 7, 2008... Byline: Don Seibert While the number of millionaires grows, it's sobering to note how many Americans are not especially wealthy. Consider that 75% of those turning 50 have less than $25,000 in total assets, according to a recent study from...

ALAN R. LEIST JR.(Special Report: Outlook 2008)
January 7, 2008... Byline: Bruce Kelly ALAN R. LEIST JR., Chief executive, Strategic Financial Services LLC, Utica, N.Y. Assets under management: $1.1 billion Forecast: Look for a wobbly beginning to 2008, with oil prices and the fallout of the...

ROBERT C. GILLOOLY.(Special Report: Outlook 2008)
January 7, 2008... Byline: Davis D. Janowski ROBERT C. GILLOOLY, Principal and managing director, Osborne Partners Capital Management, San Francisco Assets under management: $800 million Forecast for 2008: With banks imposing tighter credit...

SEC to continue assault on fiduciary protection in 2008; Other voices.(Viewpoint)
January 7, 2008... Byline: Diahann W. Lassus Despite the U.S. Court of Appeals' recent rebuke of the SEC in Financial Planning Association vs. Securities and Exchange Commission, the regulator appears ready to continue to reduce the fiduciary protections...

Advisers ponder whether to sell annuities; Guaranteed income is aim, but delivery is the question.(News)
January 7, 2008... Byline: Darla Mercado Now that annuities are becoming accepted as part of an overall retirement income program, fee-only planners are wondering whether they should sell the products themselves or refer sales to outside agents. "There's...

Closing quote.(Short Interests)
January 7, 2008... "Putnam's track record won't allow for forgiveness. They have already used their mulligan.'' -Howard Schneider, president of Practical Perspectives, an industry consulting firm in Boxford, Mass., on Putnam Investments of Boston. Page 54.

At the bell.
January 7, 2008... Schwab unit joins tech consortium Schwab Performance Technologies Inc. has joined YourSilverBullet.net. The Raleigh, N.C., subsidiary of the San Francisco-based Charles Schwab Corp., which creates back-office software for registered...

Going small is fund's secret to finding hidden gems; But managers aren't afraid to cut their losses when necessary, despite liquidity constraints.(Street Wise)
January 7, 2008... Byline: Jeff Benjamin The basic premise behind the management of the Managers AMG Essex Small/Microcap Growth Fund (MBRSX) is finding good companies that few other analysts have yet to identify as prospects. "We want to identify growth...

Schwab looks to buy more tech vendors; Plan seen as a way to attract wirehouse reps.(News)
January 7, 2008... Byline: Brooke Southall Schwab Institutional will seek to acquire or partner with more technology vendors, a strategy that follows a doubling in the company's tech budget in 2007. Last year, the San Francisco-based company spent $55...

ROBERT C. POZEN.(Special Report: Outlook 2008)
January 7, 2008... Byline: Sue Asci ROBERT C. POZEN, Chairman, MFS Investment Management, Boston Assets under management: $204 billion General outlook: The year closed with continued fallout from the subprime debacle, market volatility and...

Grandparents investing billions for grandkids; Wealthy seniors are making investments directly.(News)
January 7, 2008... Byline: Liz Skinner Today's grandparents are spending about $50 billion a year on their grandchildren - with about $25 billion of that going toward investments, a recent survey has found. "Grandparents say that grandchildren are...

Advisers' resolution for 2008: Get organized; Going paperless, buying file cabinets are top choices.(News)
January 7, 2008... Byline: Liz Skinner While it's unclear where the financial advisory industry stands on the No. 1 New Year's resolution of losing weight, some professionals are promising to focus on organizing in 2008. Technology will be used to...

Wealthy want to give, study shows; Volunteerism, 'making a difference' valued.(News)
January 7, 2008... Byline: Aaron Siegel While still focused on providing themselves with a comfortable retirement, most Americans with at least $1 million in investible assets also want to be generous and help others, according to a study released last month...

New cap on 12(b)-1 fees may be on the horizon; SEC seeks to level playing field, takes issue with sales charge.(News)
January 7, 2008... Byline: Sara Hansard The SEC is looking at capping the 12(b)-1 marketing and sales charge fees that fund investors pay and is preparing to issue a proposal early this year concerning the approximately $12 billion a year paid in such fees....

Pax fund focuses on firms that empower women.(Short Interests)
January 7, 2008... Byline: Sue Asci A woman's place is in the House and Senate, said the late feminist and congresswoman Bella Abzug. Today, include the marketplace as well. "We are living in a time when people are beginning to realize that gender...

More than a game.(Short Interests)
January 7, 2008... Byline: Sara Hottman Are you a saver? A spender? Do you want to burn money to make money, or play it safe and save? The Millionaire Maker Game is a finance strategy board game that reveals players as spenders, savers, risk takers or...

Americans' income is mobile, Treasury finds.(News)
January 7, 2008... Byline: Sara Hansard The richest Americans don't stay on top forever, and the poorest aren't stuck at the bottom, according to a recent study by the U.S. Trreasury Department on income mobility. Only 25% of Americans in the top 0.01%...

Roth conversion opportunities; Beware of the differences in what the law and specific plans allow.(IRA Alert)
January 7, 2008... Byline: Ed Slott Beginning this year, a provision of the Pension Protection Act of 2006 allows participants to convert funds in 401(k)s and other company plans directly to a Roth IRA. Until now, plan participants had to roll funds over...

JIM ROSS.(Special Report: Outlook 2008)
January 7, 2008... Byline: David Hoffman JIM ROSS, Senior managing director, State Street Global Advisors, Boston Assets under management: $2 trillion General outlook: Smaller ETF providers may be absorbed by larger providers in 2008, said Mr....

DESPITE TURMOIL, NO RECESSION EXPECTED; 64% of advisers anticipate improvement in credit markets.(Special Report: Outlook 2008)
January 7, 2008... Byline: Jeff Benjamin The cloud of uncertainty hanging over the economy and the financial markets is a manageable challenge in 2008, according to the findings from an InvestmentNews survey of advisers. Despite a number of comments that...

DOUG HERRING.(Special Report: Outlook 2008)
January 7, 2008... Byline: Lisa Shidler DOUG HERRING, President, American Beacon Advisors Inc., Dallas Assets under management: $69 billion General outlook: Mutual funds and, in general, defined-contribution plans will have another great year,...

ELISSE WALTER.(Special Report: Outlook 2008)
January 7, 2008... Byline: Sara Hansard ELISSE WALTER, Senior executive vice president for regulatory policy and programs, Financial Industry Regulatory Authority Inc., New York and Washington General outlook: Financial services industry issues are...

Growth or value for retirement? The answer depends on whether markets are rational or irrational.(Investment Strategies)
January 7, 2008... Byline: William Reichenstein For long-term investors, what approach to equity investing in retirement accounts makes the most sense, growth or value? While the data clearly favor value, the rationale is subject to debate. Let's look at...

The week ahead.(Short Interests)(Calendar)
January 7, 2008... Jan. 7 The Practising Law Institute's two-day seminar, Understanding the Securities Products of Insurance Companies 2008, begins today in New York. A report on the amount of net stripping of Treasury securities is due out at 3 p.m....

Putnam hurt by exposure to financials; Some of firm's biggest funds suffer due to investments in Bear Stearns and Countrywide, among others.(News)
January 7, 2008... Byline: David Hoffman Putnam Investments is paying the price for calling the bottom in financial stocks too early. Performance among the Boston-based firm's domestic-equity mutual funds - particularly those that invest in...

Firms may need to add advisers before demand materializes; Better to be proactive to meet clients' needs than caught short, some say.(News)
January 7, 2008... Byline: Liz Skinner To attract their share of the additional $5 trillion in investible assets that Americans are expected to accrue over the next five years, successful advisory firms should be adding advisers and support personnel now....

IN events.(Short Interests)
January 7, 2008... Feb. 13 Webcast: What Female Business Owners Want From Advisers Register to listen to our panel of leading female entrepreneurs discuss how financial advisers can win them over and retain their business, which services they need most and...

Subprime chaos, credit crunch recast alternatives; Emphasis is shifting to management skills.(Special Report: Outlook 2008)
January 7, 2008... Byline: Jeff Benjamin One way or another, the fallout from the subprime mortgage meltdown and the broader credit crunch is expected to alter the complexion of the alternative investments industry in the year ahead. "We will see some...

SCOTT A. ARMIGER.(Special Report: Outlook 2008)
January 7, 2008... Byline: Aaron Siegel SCOTT A. ARMIGER, Vice president, Christiana Bank and Trust Co., Greenville, Del. Assets under management: $300 million Forecast: Now that the Fed has cut interest rates by 1 percentage point in the last...

Money managers' profit from retirement plans to fall; Wealthy clients likely to make up for the shortfall, says report.(News)
January 7, 2008... Byline: Douglas Appell Retirement plans will be a dwindling and less profitable source of new business for money managers over the next five years, with rich investors the likeliest group to fill the gap, a report from Putnam Lovell...

BNY Mellon Asset makes move in emerging markets; Applies 'third generation' growth strategy.(News)
January 7, 2008... Byline: Mark Bruno Scores of executives talk about globalization, but lately Ronald O'Hanley seems to be living it. Last month alone, Mr. O'Hanley, president and chief executive of New York-based BNY Mellon Asset Management, completed...

Boomers rue lack of retirement planning; Most would wish for a 'do-over,' and start to save sooner.(News)
January 7, 2008... Byline: Liz Skinner If offered a chance to travel back in time, many baby boomers would change their planning strategy for retirement, according to a new survey. Most expressed a wish for a "do-over,'' with more than a quarter saying...

Advice market is a muddle, SEC study finds; Differences between advisers, brokers widely misunderstood.(News)
January 7, 2008... Byline: Sara Hansard Investors and investment professionals are confused about the differences between investment advisers and broker-dealers. That is one of the findings of a 191-page report by the RAND Corp. of Santa Monica, Calif.,...

Profit sharing at Edwards will get ax; Wachovia's move to replace plan could spur defections.(News)
January 7, 2008... Byline: Dan Jamieson Wachovia Securities LLC will discontinue A.G. Edwards' lucrative profit-sharing plan this year, a move some say could contribute to more defections of Edwards producers. After June of this year, the St. Louis-based...

Prime numbers.
January 7, 2008... Go figure $226.9B- :The drop in mutual fund assets in November. Fund assets stood at $12.076 trillion Nov. 30, down 1.8% from $12.303 trillion Oct. 31. Source: Investment Company Institute $10.9M: The severance pay Mitchell H. Caplan,...

Economy, investors brace for a bumpy ride.(Viewpoint)
January 7, 2008... The first day of trading in the new year should have served as a warning to investors that 2008 will likely be a tough year for the economy and for investors. Unfortunately, many investors may still be recovering from New Year's celebrations,...

DC business seen consolidating in '08; Advisory firms may join recordkeepers as targets.(News)
January 7, 2008... Byline: Lisa Shidler Consolidation in the business of managing and serving defined contribution plans is likely to pick up this year - and advisory firms could be part of the mix. In December, The Hartford (Conn.) Financial Services...

Regulatory loose ends move to front burner in new year; From B-Ds to insurance, hot buttons abound.(Special Report: Outlook 2008)
January 7, 2008... Byline: Sara Hansard Controversial debates of prior years will be revived this year, financial services industry officials expect. The issue of fair play between brokers and advisers could turn into a battle over establishing a...

FEE DISCLOSURE, 401(K)s HIGHLIGHT RETIREMENT FOCUS; Though wary, advisers expect new target-date funds.(Special Report: Outlook 2008)
January 7, 2008... Byline: Lisa Shidler This year, the retirement industry will see heightened scrutiny on fee disclosure and an anticipated increase in automatic enrollment in 401(k) plans. Although advisers still have concerns about them, target-date...

K. SEAN CLARK.(Special Report: Outlook 2008)
January 7, 2008... Byline: David Hoffman K. SEAN CLARK, Chief investment officer, Clark Capital Management Inc., Philadelphia Assets under management: $1.3 billion Forecast: The market will struggle early, but pick up toward the end of 2008,...

Advisers may benefit from XBRL shift; Start-up companies will gain new tools with language change.(News)
January 7, 2008... Byline: Davis D. Janowski If advisers haven't heard of extensible business reporting language, or XBRL, they soon will. The data standard, which came into existence almost a decade ago, is now part of a pilot project for reporting...

Cost of care for elderly climbed in 2007.(Short Interests)
January 7, 2008... Byline: Darla Mercado The cost of nursing-home and in-home care from Medicare-certified providers leapt during 2007, according to data from New York Life Insurance Co. Nursing-home-care costs jumped about 3%, while in-home care climbed...

MICHAEL A. YOSHIKAMI.(Special Report: Outlook 2008)
January 7, 2008... Byline: Darla Mercado MICHAEL A. YOSHIKAMI, Founder, president and chief investment strategist, YMCNET Advisors Inc., Walnut Creek, Calif. Assets under management: $950 million Forecast: The credit crunch will impact the...

CLIFFORD JACK.(Special Report: Outlook 2008)
January 7, 2008... Byline: Darla Mercado CLIFFORD JACK, Executive vice president and chief distribution officer, Jackson National Life Insurance Co., Lansing, Mich. 2008 chairman, NAVA, Reston, Va. General outlook: Where 2007 was the year...

JEFF KNIGHT.(Special Report: Outlook 2008)
January 7, 2008... Byline: Sue Asci JEFF KNIGHT, Chief investment officer of the global-asset-allocation team, Putnam Investments, Boston Assets under management: $185 billion Forecast: The stock market is not likely to give investors...

BOB ROWE.(Special Report: Outlook 2008)
January 7, 2008... Byline: Lisa Shidler BOB ROWE, Managing partner and majority owner, Enhanced Investment Partners LLC Senior vice president and senior consultant, Rowe Consulting Group, an affiliate of Raymond James & Associates Inc., Chicago ...

MARK E. JOHANNESSEN.(Special Report: Outlook 2008)
January 7, 2008... Byline: Aaron Siegel MARK E. JOHANNESSEN, President, Financial Planning Association, Denver Managing director, Harris SBSB, McLean, Va. Assets under management: $2 billion General outlook: "It's hard to be anything but...

KAREN SCHAEFFER.(Special Report: Outlook 2008)
January 7, 2008... Byline: Jeff Benjamin KAREN SCHAEFFER, Outgoing chairwoman, Certified Financial Planner Board of Standards Inc., Washington, D.C. President, Schaeffer Financial LLC, Rockville, Md. Assets under management: $61.5 million ...

KEITH HARTSTEIN.(Special Report: Outlook 2008)
January 7, 2008... Byline: Jeff Benjamin KEITH HARTSTEIN, President and chief executive, John Hancock Funds LLC, Boston Assets under management: $54 billion Forecast: Issues related to the subprime mortgage mess and the overall credit crisis...

ERNIE ANKRIM.(Special Report: Outlook 2008)
January 7, 2008... Byline: Brooke Southall ERNIE ANKRIM, Chief investment strategist, Russell Investments, Tacoma, Wash. Assets under management: $230 billion General outlook: "I'm more optimistic than the consensus. The growth rate [in 2008]...

Glee over AMT relief may be short-lived; IRS delays in revising tax forms will affect preparers, refunds.(News)
January 7, 2008... Byline: Sue Asci While millions of taxpayers are relieved that they won't have to pay the alternative minimum tax this year, tax preparers are dismayed to face a narrower window due to delays in updates of the IRS' tax forms. Congress...

Pitt helping to create securites lending firm; Ex-SEC chairman attempting to generate revenue for lenders.(News)
January 7, 2008... Byline: Jay Cooper Former SEC Chairman Harvey Pitt is helping launch a new securities lending exchange that aims to provide greater transparency and generate more revenue for lenders such as pension funds. The exchange, called LENDEX...

Merrill adds new trading-error policy; Brokers will pay into 'insurance' fund.(News)
January 7, 2008... Byline: Dan Jamieson Merrill Lynch has implemented a new policy covering trading errors. The firm has set up what brokers say is a system of "self-insuring'' against mistakes. Brokers are put into one of four risk groups based on...

Middle East petrodollars attract firms; Asset managers lured to fast growing pools of sovereign funds.(News)
January 7, 2008... Byline: Thao Hua Western money managers are pouring into the Middle East in hopes of luring its fast-growing pools of petrodollars. "It's an invasion,'' said Antoine Massad, chief executive officer of Man Investments Middle East Ltd.,...

FSI names new chairman for 2008; Broker-dealer advocacy group also picks vice chairman, four directors.(News)
January 7, 2008... Byline: Bruce Kelly The FSI has tapped Brian Murphy to serve as its chairman in 2008. Mr. Murphy, who is also chairman of Woodbury (Minn.) Financial Services Inc., takes over for John Simmers, chief executive of ING Advisors Network...

LETTERS.(Viewpoint)
January 7, 2008... It's premature to predict outcome on ETN debate The InvestmentNews story, "ICI is likely to prevail in its efforts to end ETNs' tax break,'' (Dec. 3) misses the mark. First, it is premature to forecast this debate's outcome. There is...

Retail holds up as securities firms suffer; Investment activity dependent on economy.(Special Report: Outlook 2008)
January 7, 2008... Byline: Dan Jamieson The retail-securities business, which so far has held up through the subprime-mortgage meltdown, could be affected this year if the overall economy stumbles as a result of the credit crunch. "That's the $64,000...

More exotic products due from mutual funds; Complication, innovation on the new-product horizon.(Special Report: Outlook 2008)
January 7, 2008... Byline: David Hoffman The mutual fund industry will let its hair down this year, introducing ever more exotic, hedge-fund-like products that make even greater use of complicated vehicles such as derivatives, according to some industry...

People.
January 7, 2008... Curian Capital LLC, a Denver-based provider of separately managed account platforms, has promoted Greg Verfaillie to senior vice president and national sales manager. Formerly divisional vice president for the West region, Mr. Verfaillie,...

ROBERT ELLIOTT.(Special Report: Outlook 2008)
January 7, 2008... Byline: Charles Paikert ROBERT ELLIOTT, Senior managing director, Bessemer Trust Co., New York Assets under management: $52.2 billion General outlook: Although the American economy "may be on the brink of recession,'' and an...

MICHAEL METZ.(Special Report: Outlook 2008)
January 7, 2008... Byline: Charles Paikert MICHAEL METZ, Chief investment strategist, Oppenheimer & Co., Inc., New York, N.Y. Assets under management: $30 billion Forecast: A recession in 2008 is "probable,'' and may last "well into 2009,''...

InvestmentNews Online Opinion Poll.(Viewpoint)
January 7, 2008... The response to the previously asked question appeared in the Dec. 17 issue on page 92. This week's question is: What is your top professional resolution for 2008? (A) Find new clients; (B) Improve service to established clients; (C) Go...

It's time to take action on 12(b)-1 fees; Editorial.(Viewpoint)(Editorial)
January 14, 2008... This is the year for the SEC to settle the 12(b)-1 issue. Securities and Exchange Commission Chairman Christopher Cox has pledged to examine the fee system, questioning whether the use of 12(b)-1 fees has moved away from the original intent,...

Small broker-dealers remain angered over 7-day VA rule; Say inadequate review window is issue.(News)
January 14, 2008... Byline: Darla Mercado Despite FINRA's proposed three-month stay of the new seven-day principal review rule, principals at small broker-dealer firms are still angry, arguing that the delay in the effective date gives them insufficient time...

Above the fray.(Short Interests)
January 14, 2008... Byline: Sara Hansard Banks that made loans to their Community Reinvestment Act assessment areas in 2006 were substantially less likely than other lenders to make the kinds of risky home loans that helped fuel the subprime-foreclosure...

AARP: Lenders abuse reverse mortgage sales; Firms then push LTC, annuities to borrowers.(News)
January 14, 2008... Byline: Charles Paikert Reverse-mortgage lenders may be depleting the home equity of borrowers by offering inappropriate financial products, according to a report issued last month by AARP. Nine percent of borrowers surveyed by the...

IN events.(Short Interests)
January 14, 2008... Feb. 13 Webcast: What Female Business Owners Want From Advisers Register to listen to our panel of leading female entrepreneurs discuss how financial advisers can win them over and retain their business, which services they need most and...

The week ahead.(Short Interests)(Calendar)
January 14, 2008... Jan. 14 The two-day, seventh annual Institute on Securities Regulation in Europe conference begins today in London. The Society of Financial Service Professionals' Arizona Institute conference continues today through Friday. Jan....

People.
January 14, 2008... Grail Partners LLC, a Boston-based merchant bank, has hired William M. Parent as partner and chief investment officer. Prior to joining Grail Partners, Mr. Parent, 46, was a partner at DLB Capital LLC, a Wilton, Conn.-based private-equity...

SIFMA suggests self-regulator for adviser-only firms; Advisers balk at the idea of coming under SRO umbrella.(News)
January 14, 2008... Byline: Sara Hansard The Securities and Exchange Commission should consider requiring investment-adviser-only firms to report to a self-regulatory organization, the leading trade group for the brokerage industry said last week. "The...

Financial advisers looking for silver lining in the clouds; Difficult times could mean a chance to boost business and help clients.(News)
January 14, 2008... Byline: Charles Paikert As financial advisers and their clients welcome 2008, the headlines aren't reassuring: a deepening credit crisis, a possible recession, slumping housing prices, rising foreclosures, slowing job growth and an...

Citi, Merrill, Morgan hit with ERISA claims; Firms made inadequate disclosures about subprime exposure, lawsuits charge.(News)
January 14, 2008... Byline: Dan Jamieson Employee plaintiffs are lining up to sue the major brokerage firms over losses in company stock. A number of proposed class actions have been filed against Citigroup Inc., Merrill Lynch & Co. Inc. and Morgan...