Bloomberg
MetLife divests reverse-mortgage businessPosted by RJ and Makay on Apr 27, 2012 |
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MetLife Inc. has agreed to sell its reverse-mortgage portfolio to Nationstar Mortgage LLC. The firm will cut about 500 jobs and will no longer accept applications for reverse mortgages, the company said yesterday. In a further pullback from its banking business, CEO Steven Kandarian has agreed to sell about $7.5 billion of deposits to General Electric Co.
Bloomberg survey of richest family offices: HSBC is number onePosted by RJ and Makay on Aug 09, 2011 |
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Bloomberg has surveyed more than 1000 money management firms worldwide to come up with the top 50 family-office firms by assets. Using a database obtained from Family Office Group of Portland Oregon, the firms were requested to exclude funds managed for pensions and other institutions but include those of private foundations. Ranked offices provided comprehensive investment and non-investment services to multi-generational families.
Revised GDP shows slower Q4 growth than expectedPosted by RJ and Makay on Feb 25, 2011 |
Economy watchers waiting for revised fourth-quarter GDP figures got a bit of a shock today. Instead of the upward revision from 3.2% to 3.3% they expected, the government adjusted its fourth-quarter estimate down to 2.8% on deep spending cuts by state and local governments.
However, the revised figure is still better than the third quarter's 2.6% growth rate. Furthermore, excluding inventories, the economy expanded at a 6.7% annual pace, the most since 1998.
Ray Kroc (American pioneer of the fast-food industry, Founder of McDonald's. 1902-1984)
