Breathing space for Morgan Stanley Sep 20, 2008
The No 2 Wall Street firm this week is in merger talks with several banks, notably Wachovia Corporation and approached China Investment Corporation (CIC) to raise its stake in the firm after its stock price fell 50% and some securities were trading as if the firms default were certain. Yet Morgan stock rebounded on Thursday after the US Securities and Exchange Commission restricted short sales and the Treasury Department proposed a fund that could buy distressed assets from lenders. (India Times)
US debt bail-out plan drives up global stocks Sep 19, 2008
The deaily said the bank preferred to sell a stake to CIC to a merger with US bank Wachovia Corporation. However an unnamed CIC executive was quoted as saying in Beijing that taking a holding "could be very hard now as the purchase of a stake ... could be subject to the US government foreign investment review.". (Sydney Morning Herald -- World)
* Morgan Stanley may be next in trouble Sep 19, 2008
Morgan Stanley became the next great Wall Street name in peril on Thursday with reports it was in talks to be bought by US Wachovia Corporation or a Chinese bank, as HBOS bank was bailed out in London ... The New York Times reported that Morgan Stanley, one of the last two independent US-based investment banks, was in talks to merge with Wachovia Corporation. (Taipei Times, Taiwan -- World)
U.S. federal mortgage success stories Sep 10, 2008
The Wachovia Corporation has also ramped up its borrowing, in part because of its acquisition of Golden West, a big California lender. In 2007, before it was sold to Bank of America, the Countrywide Financial Corporation took out more than $53. (International Herald Tribune -- Business)
Wachovia reports more layoffs Sep 9, 2008
Wachovia Corporation is laying off 69 employees at its Boynton Beach mortgage office at 12700 S. Military Trail by November 12. The Charlotte, N.C-based company (NYSE:WB) filed a WARN notice on Monday as required by the. (South Florida Business Journal, FL)
Evergreen Investments Announces Portfolio Management Appointments in Municipal Bond Group Aug 19, 2008
About Evergreen Investments Evergreen Investments is the brand name under which Wachovia Corporation (NYSE: ) conducts its investment management business. Wachovia Global Asset Management is the brand name under which Evergreen Investments conducts sales and distribution business outside the United States. (PR Newswire)
Klafter Olsen & Lesser LLP Announces That It Has Been Retained to Pursue a Class Action Lawsuit Against Wachovia Corporation in Connection with the Evergreen Ultra Short Opportunities Fund Aug 19, 2008
Klafter Olsen r LLP Announces That It Has Been Retained to Pursue a Class Action Lawsuit Against Wachovia Corporation in Connection with the Evergreen Ultra Short Opportunities Fund ... Klafter Olsen r LLP Announces That It Has Been Retained to Pursue a Class Action Lawsuit Against Wachovia Corporation in Connection with the Evergreen Ultra Short Opportunities Fund ... WASHINGTON, Aug. 18 /PRNewswire/ -- Klafter Olsen r LLP has been retained to commence a securities class action against Wachovia... (PR Newswire)
Merrill joins Citigroup in buying back auction-rate securities Aug 8, 2008
Firms including Goldman Sachs, Lehman Brothers, JPMorgan Chase, Morgan Stanley, UBS and the Wachovia Corporation are also among those under scrutiny by regulators. Representatives for the firms did not return calls late Thursday or declined to comment. (International Herald Tribune)
I.R.S. Offers a Settlement in Corporate Tax Shelter Cases Aug 7, 2008
Similar rulings in favor of the I.R.S. have come against Fifth Third Bancorp in Cincinnati and BB&T in Winston-Salem, N.C. In May, a month after the BB&T ruling was upheld on appeal, the Wachovia Corporation in Charlotte, N.C., said it would record charges of $800 million to $1 billion in the second quarter stemming from its use of Silo shelters. In announcing the settlement offer, Douglas H. Shulman, the I.R.S. commissioner, said that we obviously have a strong hand, as we ve been winning these... (Atlanta Journal-Constitution -- Business)
Read more... Jul 29, 2008
Born in Biddeford, Maine, Osher managed his family's hardware and plumbing business before stints on Wall Street and as a founding director of World Savings, which recently merged with Wachovia Corporation. Although Osher and his four siblings went to college, his immigrant parents never had that opportunity, spurring Osher's interest in education. (PNN Online)
Wachovia Announces Tom Wurtz Stepping Down as CFO; Company To Conduct Immediate Search for Replacement Jul 25, 2008
"Tom has been a professional partner and colleague and we are grateful for all he has done for the company." Wurtz added, "I'm honored that I had the privilege to serve Wachovia as CFO for the past two and half years and as Treasurer for seven years. Wachovia is an excellent company with a very bright future. In the past few weeks, I have enjoyed working with Bob. His strong leadership will help the company build on its core strengths and emerge successfully from the current environment." About... (PR Newswire)
Bank investors redefine bad news Jul 23, 2008
After the last week brought another round of woeful quarterly results from the industry, capped by news on Tuesday of multibillion-dollar losses at the Wachovia Corporation and Washington Mutual, that question is nagging banking executives and their investors. Kenneth Lewis, the chief executive of Bank of America, insisted this week that the industry was turning the corner, after his company reported a mere 41 percent drop in profit. (International Herald Tribune)
> Brokerage in line for sale at Wachovia? Jul 23, 2008
"Wachovia Securities has been and continues to be one of Wachovia Corporation's best performing businesses," the company says in a written statement. "It is a core business for Wachovia and integral to our long-term strategy. Wachovia Corporation is firmly committed to our retail brokerage business and has no plans to sell it.". (Charlotte Business Journal, NC)
Wachovia Exits Wholesale Mortgage Lending Business Jul 22, 2008
Wachovia Corporation, the nation's fourth largest-bank, said Monday that it is leaving the wholesale mortgage lending business. Beginning July 25, the company will no longer offer mortgages through brokers, joining other lenders making similar moves to exit the troubled sector. (ABC News -- Wire)
Evergreen Closed End Funds Declare Monthly Dividends Jul 19, 2008
About Evergreen Investments Evergreen Investments is the brand name under which Wachovia Corporation (NYSE: ) conducts its investment management business. Wachovia Global Asset Management is the brand name under which Evergreen Investments conducts sales and distribution business outside of the United States. (PR Newswire)
Seeing bad loans, investors flee from U.S. bank shares Jul 16, 2008
The mood darkened further on Tuesday, when the Wachovia Corporation was compelled to assert that it was sound as its share price was swept lower for a fifth day. Wachovia fell nearly 8 percent, leaving it down 76 percent this year. (International Herald Tribune)
Administration shores up ailing mortgage giants Jul 14, 2008
Welcome to The Sydney Morning Herald. Skip directly to: Search Box, , , Text Version. (Sydney Morning Herald -- Business)
Law Offices of Howard G. Smith Announces Class Action Lawsuit Against Wachovia Corporation Jul 13, 2008
July 11 /PRNewswire/ -- Law Offices of Howard G. Smith announces that a securities class action lawsuit has been filed on behalf of all persons who purchased the securities of Wachovia Corp. ("Wachovia") (NYSE: ) between May 8, 2006 and June 6, 2008, inclusive (the "Class Period"). The class action lawsuit was filed in the United States District Court for the Southern District of New York. (PR Newswire)
Wachovia hires a Treasury insider to lift it out of its banking woes Jul 13, 2008
Now he will confront those problems up close at the Wachovia Corporation, one of the nation's largest banks. On Wednesday, Wachovia ended its six-week search for a new leader when it named Steel, the under secretary of the Treasury for domestic finance, as its chief executive. (International Herald Tribune)
Cincinnati Financial Comments on Outlook for Full-year 2008 Jun 20, 2008
" Stecher added, "In recent years, we generally have taken action to reduce our exposure to companies that have undergone adverse changes to their dividend prospects, including sales since the beginning of this year of our Huntington Bancshares, National City Corporation and Wachovia Corporation common stock holdings. Additionally, to finance an accelerate share repurchase in 2007, we sold 5. (PR Newswire)
2008 All-America City Award Winners Announced! Jun 10, 2008
This year's AAC Awards were sponsored in part by Jones Day, Prudential, Wachovia Corporation, ICMA Retirement Corporation, RBC Capital Markets, MWH, Southwest Airlines (The Official Airline of the AAC Awards), Tampa Marriott Waterside Hotel and Marina (The Sole Official Headquarters Hotel of the AAC Awards), and Marriott International. Hundreds of civic leaders and community activists from across the country met in Tampa for the three-day awards competition from June 4-6. (PR Newswire)
WHAT WACHOVIA SAYS: Text of Wachovia's press release. Jun 3, 2008
Wachovia Corporation [] is one of the nation's largest diversified financial services companies, with assets of $808 ... A discussion of various factors that could cause Wachovia Corporation's actual results to differ materially from those expressed in such forward-looking statements is included in Wachovia's filings with the Securities and Exchange Commission ... SOURCE Wachovia Corporation. (USA Today -- Money)
Amid economic slowdown, signs of new world order Jun 2, 2008
SOURCE: International Monetary Fund and Wachovia Corporation /Rich ClabaughSTAFF. Amid economic slowdown, signs of new world order. (Christian Science Monitor -- World)
Measure of U.S. consumer mood hits 16-year low May 28, 2008
Mark Vitner, senior economist with the Wachovia Corporation, agreed, saying that he does not believe that confidence has bottomed out yet, an ominous sign for consumer spending. "Higher gasoline is of immediate concern," Vitner said. (International Herald Tribune -- Business)
Call center worker sues for back wages Mar 31, 2008
A worker at a Wachovia Corporation call center in Alabama is suing the bank for back wages. Carrie Williams is asking a federal judge to allow all current and former Wachovia call center employees to participate in the case. (The Daily Reflector)
Static Over Clear Channel and Mitt Romney Mar 28, 2008
The bank group Citigroup, Deutsche Bank AG, Credit Suisse Group, Morgan Stanley, the Royal Bank of Scotland Group and Wachovia Corporation last April signed an agreement to finance the Clear Channel purchase. But loan prices have tumbled since then, and these banks now stand to lose at least $2. (Newsmax)
Education Trust Board of New Mexico Announces Consolidation and Simplification of 529 Program Structure Mar 18, 2008
About Evergreen Investments Evergreen Investments is the brand name under which Wachovia Corporation (NYSE: ) conducts its investment management business and is a leading asset management firm serving more than four million individual and institutional investors through a broad range of investment products. Led by 350 investment professionals, Evergreen Investments strives to meet client investment objectives through disciplined, team-based asset management. (PR Newswire)
Evergreen Investments Announces Change to Product Line Mar 15, 2008
BOSTON, March 14 /PRNewswire-FirstCall/ -- Evergreen Investments announced today that the Board of Trustees of the Evergreen Funds approved a name and investment strategy change for Evergreen Balanced Fund (EKBAX, EKBBX, EKBCX, EKBYX) and Evergreen VA Balanced Fund. In order to describe more clearly the flexible and dynamic investment approach of portfolio manager Margaret Patel, the Board approved a proposal to change the names of Evergreen Balanced Fund and Evergreen VA Balanced Fund to... (PR Newswire)
American Community Bank Announces Addition of Chief Banking Officer Mar 7, 2008
Mr. DeMarcus previously served at Wachovia Corporation for twenty years; most recently as Senior Vice President and Retail Banking Executive for North Carolina, South Carolina and Virginia. Randy P. Helton, President f American Community Bank stated: "With the bank's expansion opportunities in existing markets, the addition of a veteran experienced banker such as Mr. DeMarcus creates an opportunity to leverage our management talent more efficiently. We are very excited about the addition of Mr.... (PR Newswire)
Wachovia Corporation Declares Cash Dividends on Common Stock and Preferred Stock Feb 20, 2008
CHARLOTTE, N.C., Feb. 19 /PRNewswire-FirstCall/ -- Wachovia Corporation (NYSE: ) today announced that its board of directors approved the company's regular quarterly cash dividend on its common stock of 64 cents per share ... About Wachovia Wachovia Corporation (NYSE: ) is one of the nation's largest diversified financial services companies, with assets of $782 ... SOURCE Wachovia Corporation. (PR Newswire)
/C O R R E C T I O N -- Wachovia/ Feb 20, 2008
ABOUT WACHOVIA CORPORATION. Wachovia Corporation (NYSE: - ) is one of the nation's largest diversified financial services companies, with assets of $782. (Yahoo! Wire -- Entertainment News)
Burns/Davis wed Jan 27, 2008
and Karen Duprey of Portsmouth, is an assistant vice president/meeting planner with Wachovia Corporation in Manhattan. She graduated from Connecticut College in New London, Conn. (Seacoast New Hampshire)
Bank of America woes go beyond mortgages Jan 23, 2008
Likewise, large write-downs in mortgage-related securities and the need to raise provisions for loan losses nearly wiped out all of the fourth-quarter earnings at the Wachovia Corporation, Bank of America's cross-town rival. Wachovia reported net income of $51 million in the fourth quarter, or 3 cents a share, from $2. (International Herald Tribune -- Business)
Hot Market: Charlotte, NC, Growing $1 Billion At a Time Dec 18, 2007
Mark Vitner, a senior economist with the Wachovia Corporation, says, "The inventory of new homes on the market remains relatively lean, and building moratoriums in some surrounding areas are keeping a relatively tight lid on new supply.". In his economic forecast for 2008 in the Charlotte Region, Vitner adds that "even though Charlotte is one of the nation's largest financial centers, the city has largely escaped a direct hit from the housing slump and mortgage market troubles.". (RealtyTimes)
Wachovia Awards Hero $25,000 in Who Would You Thank? Contest Nov 20, 2007
"Through our Who Would You Thank? contest, we are thrilled to be able to help Jennifer and her family thank John Lane, who risked his life to save complete strangers." "Together with our customers, this contest allows Wachovia to spread the spirit of gratitude, something we value every day," said Ken Thompson, chairman and CEO of Wachovia Corporation ... ABOUT WACHOVIA CORPORATION Wachovia Corporation (NYSE: ) is one of the nation's largest diversified financial services companies, with assets... (PR Newswire)
Wall Street must learn from the boss's downfall Nov 7, 2007
It's been reported that one of the precipitants of O'Neal's downfall though undoubtedly a very distant second to the staggering $8 billion asset write-down was the revelation of his preliminary discussions about a possible merger with North Carolina-based Wachovia Corporation, without prior board approval or even notice. O'Neal is not the first CEO to have incurred the wrath of his board for perceived unauthorized freelancing. (Christian Science Monitor)
Wachovia Corp UK Regulatory Announcement: FRN Variable Rate Fix Oct 31, 2007
Wachovia Corporation ... Wachovia Corporation. (BusinessWire)
Tina Clayton named Caswell's Wachovia principal of the year Oct 18, 2007
Mrs. Tina B. Clayton, principal of North Elementary School, has been selected as the 2008 Wachovia Principal of the year for Caswell County in a program sponsored by the North Carolina Department of Public Instruction, The Principals' Executive Program and the Wachovia Corporation ... Mrs. Tina B. Clayton, principal of North Elementary School, has been selected as the 2008 Wachovia Principal of the year for Caswell County in a program sponsored by the North Carolina Department of Public... (Yanceyville Caswell Messenger, NC)
Group plans to provide investigative journalism Oct 15, 2007
Last year, they sold Golden West to the Wachovia Corporation for about $26 billion, a deal which valued their personal shares at about $2. 4 billion. (International Herald Tribune -- Business)
Department of Treasury Awards Wachovia $105 Million New Markets Tax Credit Allocation Oct 6, 2007
ABOUT WACHOVIA Wachovia Corporation (NYSE: ) is one of the nation's largest diversified financial services companies, with assets of $719 ... SOURCE Wachovia Corporation. (PR Newswire)
Website Pros Completes Transaction With Web.com Oct 1, 2007
David L. Brown, Chairman and Chief Executive Officer of Website Pros * Hugh M. Durden, Chairman of the Board of Trustees of The Alfred I. duPont Testamentary Trust and former President of Wachovia Corporate Services * Julius Genachowski, former Chief of Business Operations and General Counsel for IAC/InterActiveCorp and former Chief Counsel to the Chairman of the Federal Communications Commission * Alex Kazerani, Chief Executive Officer of Edgecast, previously a founder of Knowledgebase and... (Primezone Releases)
Wachovia CEO to Present at Lehman Brothers Financial Services Conference Sep 5, 2007
Wachovia Corporation (NYSE: ) is one of the nation's largest diversified financial services companies, with assets of $719. 9 billion and market capitalization of $97. (PR Newswire)
Governor Arnold Schwarzenegger and First Lady Maria Shriver Announce the California Hall of Fame 2007 Inductees Aug 21, 2007
The California Hall of Fame formal induction ceremony will take place on December 5, 2007, at The California Museum in Sacramento and is generously supported by presenting sponsors Accenture, Chevron Corporation and Wachovia Corporation. ADVERTISEMENT. (Yahoo! Wire -- Entertainment News)
US cuts rate to calm global markets Aug 18, 2007
John Silva, a chief economist at Wachovia Corporation, said: "[The] Fed has effectively eased [interest rates] through the back door ... It is not clear if there is a single bank problem or if this is a response to general liquidity shortage.". The Dow Jones Industrial Average stock barometer closed up over 230 points, or 1. (Aljazeera.Net)
Wachovia gives $75,000 to UNCP nursing program Jul 24, 2007
PEMBROKE The Wachovia Foundation, the charitable arm of Wachovia Corporation, has pledged 75,000 to the Nursing Department of The University of North Carolina at Pembroke. The gift, which is to be completed over three years, will help fund a program titled Bridging the Gap, the mission of which is to recruit and support diversity in nursing education and, ultimately, in the workforce. (Lumberton The Robesonian, NC)
Asset Control Expands Senior Management Team With Two Key Hires Jun 15, 2007
These include: Abbey National, ABN AMRO, Allied Irish Banks PLC, Barclays Capital, Barclays Global Investors, Bayerische Landesbank, BBVA, Commerzbank, Convexity Capital Management, E*TRADE Securities, LLC, IBM (Dresdner Bank), Grupo Santander, Harvard Management Company, HSH Nordbank, HypoVereinsbank, ING, LCH.Clearnet, Robeco Groep, Societe Generale, Standard Bank, Standard Chartered, Union Investment and Wachovia Corporation. SOURCE Asset Control. (PR Newswire)
Heartland Publications buys newspapers Jun 2, 2007
Heartland is owned by a New York equity firm and an investing subsidiary of Wachovia Corporation. Copyright 2007 The Associated Press. (FOX Carolina, SC)
Website Pros Appoints Robert S. McCoy, Jr. to Board of Directors Mar 29, 2007
Mr. McCoy retired in September 2003 as Vice Chairman and Chief Financial Officer of Wachovia Corporation, a diversified financial services company, where he had been a senior executive officer since 1991. We are pleased to welcome Mr. McCoy to the Website Pros board. (Primezone Releases)
AT&T and Firethorn Announce Wachovia, Regions and SunTrust Bank Will Offer Mobile Banking to AT&T's Wireless Customers, Taking Giant Steps Toward Making Mobile Banking Marketplace Mar 27, 2007
Firethorn Mobile Banking and Payments Solution Winning Preference From Nation's Leading, Largest Financial Institutions ORLANDO, March 27 /PRNewswire-FirstCall/ -- ATE: ) and Mobile banking and payments enabler Firethorn Holdings, LLC ( ) announced today that Wachovia Corporation (NYSE: ), Regions Financial Corporation (NYSE: ) and SunTrust Banks, Inc. (NYSE: ) have selected Firethorn's mobile banking and payments solution to provide their customers with anytime, anywhere access to their... (PR Newswire)
Wachovia donates $250,000 for scholarship at Troy University Mar 7, 2007
The Wachovia Foundation is a private foundation funded annually by Wachovia Corporation. Breedlove said the foundation contributed about 4 million to the state of Alabama last year. (Troy Messenger, AL)
Wachovia Securities Names Yu-Ming Wang as Head of Fixed Income Asia Feb 28, 2007
Before joining Wachovia, Wang co-founded Structured Credit Partners, LLC, an industry pioneer in the management of commercial real estate (CRE) CDOs, which became a wholly owned subsidiary of Wachovia Corporation in August 2001 ... Wachovia Securities is the trade name for the corporate, investment banking, capital markets, and institutional securities businesses of Wachovia Corporation and its subsidiaries ... These businesses are conducted through Wachovia Capital Markets, LLC, member NASD,... (PR Newswire)
Wachovia's Board of Directors Enhances Wachovia's Corporate Governance Practices Regarding Director Elections Feb 23, 2007
Board adopts amendments to Wachovia's articles of incorporation to provide for majority voting in uncontested director elections and to declassify the board CHARLOTTE, N.C., Feb. 22 /PRNewswire-FirstCall/ -- Wachovia Corporation (NYSE: ) today announced that its board of directors has adopted, and recommend Wachovia shareholders approve, two measures intended to enhance Wachovia's corporate governance practices regarding director elections ... Wachovia Corporation (NYSE: ) is one of the nation's... (PR Newswire)
US Financial 15 Split Corp: Regular Monthly Dividend Declaration Feb 20, 2007
US Financial 15 invests in a high quality portfolio consisting of 15 U.S. financial services companies as follows: American Express, American International Group, Bank of America, Citigroup, Fifth Third Bancorp, The Goldman Sachs Group, J.P. Morgan Chase, Lehman Brothers, Merrill Lynch, Morgan Stanley, SunTrust Banks, U.S. Bancorp, Wachovia Corporation, Washington Mutual and Wells Fargo. Shares held within the Portfolio are expected to range between 4-8% in weight but may vary from time to time. (CCNMatthews Press Releases)
Activists square up to NY fund Feb 19, 2007
As well as Mr Goldstein's firm Bulldog Investments, the coalition includes Wachovia Corporation and Karpus Investment Management of the US and Laxey Partners, a UK fund that is well known for activist investments in closed-end funds. The group holds 18 per cent of shares in the $400m fund, which is managed by Deutsche Bank and focuses on small and mid-cap German equities. (MSNBC -- Business)
America's Top Donors Feb 16, 2007
" Siblings Expand Foundations A set of siblings, Marion O. Sandler and Bernard A. Osher, placed second and third on the list. Ms. Sandler and her husband, Herbert M. Sandler, donated $1.3-billion to the Sandler Family Supporting Foundation, in San Francisco. The foundation gave nearly $40-million in 2004, the most recent year for which figures are available; its largest grantee was the University of California at San Francisco, to support medical research. The Sandlers are former co-chief... (The Chronicle of Philanthropy)
Wachovia Releases World Savings Bank January Statistical Data Feb 16, 2007
About Wachovia Wachovia Corporation (NYSE: ) is one of the nation's largest diversified financial services companies, providing a broad range of retail banking and brokerage, asset and wealth management, and corporate and investment banking products and services ... SOURCE Wachovia Corporation. (PR Newswire)
GE unit investing into wind farm in 4 states Feb 15, 2007
The General Electric unit will join a subsidiary of Charlotte-based Wachovia Corporation in investing in six wind farms owned by Babcock and Brown. All the wind farms have either been completed or will be completed by the end of April -- except for the Pennsylvania operation, which is expected to be finished by December. (FOX Carolina, SC)
Courtside Acquisition Corp. to Acquire American Community Newspapers LLC Jan 25, 2007
Wachovia Capital Partners is the principal investing affiliate of Wachovia Corporation. Wachovia Capital Partners has invested more than 2. (McKinney Courier-Gazette, TX)
R&G Financial Announces Appointment of Rafael Saldana as President of R-G Crown Bank Jan 20, 2007
Mr. Saldana previously served as Vice President and General Manager at Fingerhut Co. / Federated Department Stores in Minnetonka, Minnesota, from 1999 to 2001; Senior Vice President at Fleet Financial Group in Boston, Massachusetts, from 1998 to 1999; Senior Vice President and Group Executive for Wachovia Corporation in Winston-Salem, North Carolina, from 1996 to 1998 and Senior Vice President and Commercial Director at Banco Santander in San Juan, Puerto Rico, from 1990 to 1996. Mr. Saldana... (PR Newswire)
Charity pledges smash all US records... Jan 5, 2007
The second and third largest gifts were by donors who profited from the sale of Golden West Financial Corporation to the Wachovia Corporation. Herbert and Marion Sandler, co-chief executive officers of Golden West Financial Corporation, gave $1. (The Drudge Report)
