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Daniel Mudd is taking an immediate leave of absence from his role as CEO of investment firm Fortress Investment Group, less than a week after the Securities and Exchange Commission announced fraud charges against him and other former executives of Fannie Mae and Freddie Mac.
Mudd, who has headed Fortress () since August 2009, had […]
Filed under: Uncategorized, money by Finance Boss
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+%3Cp%3E+Homebuilder+sentiment+perked+up+in+December+for+the+third+month+in+a+row%2C+to+its+highest+level+in+a+year+and+a+half%2C+the+National+Association+of+Home+Builders+said+on+Monday.%3C%2Fp%3E+%3Cp%3EThe+NAHB%2FWells+Fargo+Housing+Market+index+rose+to+21+from+a+downwardly+revised+19+in+November%2C+the+group+said.+Economists+polled+by+Reuters+had+predicted+a+reading+of+20.%3C%2Fp%3E+%3Cp%3EThe+index+was+at+its+highest+level+since+May+2010.%3C%2Fp%3E+%3Cp%3E%22While+builder+confidence+remains+low%2C+the+consistent+gains+registered+over+the+past+several+months+are+an+indication+that+pockets+of+recovery+are+slowly+starting+to+emerge+in+scattered+housing+markets%2C%22+NAHB+Chairman+Bob+Nielsen+said+in+a+statement.%3C%2Fp%3E+%3Cp%3EAfter+stagnating+in+a+tight+range+for+about+a+year%2C+the+index+has+been+improving+since+October%2C+giving+weight+to+analysts%27+views+that+the+housing+market+is+finally+finding+a+bottom.%3C%2Fp%3E+%3Cp%3EEven+with+December%27s+gain%2C+home+builder+sentiment+is+still+historically+low+and+well+below+the+50+mark%2C+indicating+more+builders+view+market+conditions+as+poor+than+favorable.+The+index+has+not+been+above+50+since+April+2006.%3C%2Fp%3E+%3Cp%3E%22We%27re+not+looking+for+numbers+next+year+to+come+anywhere+close+to+the+kind+of+numbers+that+we+saw+pre-recession%2C+but+we+do+think+the+housing+market+is+setting+up+for+a+plus+year+in+2012+in+terms+of+new+home+construction%2C+as+well+as+sales%2C%22+said+Steve+Blitz%2C+senior+economist+at+ITG+Investment+Research+in+New+York.%3C%2Fp%3E+%3Cp%3EThe+current+sales+component+rose+to+22+from+20%2C+while+the+gauge+of+sales+expectations+for+the+next+six+months+rose+to+26+from+25.%3C%2Fp%3E+%3Cp%3EThere+was+little+impact+in+financial+markets+from+the+data+as+investors+focused+on+developments+in+the+euro+zone+and+uncertainty+following+the+death+of+North+Korean+leader+Kim+Jong-il.%3C%2Fp%3E++%3Cp%3E%3Ca+href%3D%27http%3A%2F%2Fwww.reuters.com%2Fassets%2Fprint%3Faid%3DUSTRE7BI0ZA20111219%27+rel%3D%27nofollow%27%3ERead+more%3C%2Fa%3E%3C%2Fp%3E+
Filed under: management, marketing by Finance Boss
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Large-cap growth funds have held up better than most other types of stock funds this year.
Previously ignored, big-name companies that have rapidly rising earnings become more attractive in uncertain times than their riskier small-cap counterparts.
Their strong balance sheets, economy-resistant businesses, ample cash reserves and trend toward dividends make sense for risk-averse investors who never thought […]
Filed under: Uncategorized, banks by Finance Boss
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Holland Construction Services Inc. started extensive renovations at Memorial Care Center at 4315 Memorial Drive in Belleville.
The $6 million project includes an upgrade to the center’s exterior façade and indoor renovations of 34,000 square feet.
The renovations will involve 56 patient rooms, administrative offices, dining, living and reception rooms and a therapy area. Shower rooms, utility […]
Stocks are taking a sharp fall in early trading Monday amid reports that a congressional committee will fail to agree on a plan to cut the U.S. government’s budget deficit. The Dow Jones industrial average is down more than 200 points.
A 12-member bipartisan panel is supposed to agree on at least $1.2 trillion in budget […]
Filed under: Loans, management by Finance Boss
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Theodore J. Forstmann, a longtime financier who counted the iconic baseball card company Topps and business jet company Gulfstream Aerospace among his buyouts, died Sunday at the age of 71.
The cause was brain cancer, according to a statement from sports agency IMG. Forstmann was the chairman and CEO of IMG and was the senior founding […]
Stocks are opening slightly lower as investors balance spiking bond yields in Spain with signs of growth in the U.S. economy.
An auction of 10-year bonds in Spain left the country paying interest rates of nearly 7 percent. That is the highest rate since 1997 and a level that economists see as unsustainable.
In the U.S., applications […]
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World stocks rose Monday after Japan’s economy grew for the first time in four quarters and Europe moved closer to resolving a debt crisis that threatens to hurl the region into recession.
Benchmark oil hovered near $99 per barrel while the dollar gained against the euro but fell against the yen.
European stocks were higher in early […]
Filed under: homeowners, term by Finance Boss
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Asia-Pacific finance ministers agreed to push ahead with efforts to boost growth and trade, and to fend off financial crisis through reforms, U.S. Treasury Secretary Timothy Geithner said Thursday.
The government debt crisis in Europe remains the central challenge to global growth, Geithner said ahead of a Pacific rim summit this weekend that encompasses economic giants […]
Filed under: Small Business, marketing by Finance Boss
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A senior Greek governing party lawmaker says he will not support the government in a critical confidence vote unless Prime Minister George Papandreou pledges to resign over the weekend and start talks on a caretaker government.
The lawmaker made the comment to The Associated Press hours before the Friday confidence vote, speaking on condition of anonymity […]
Filed under: management, term by Finance Boss
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