Texas grand jury indicts Cheney, Gonzales of crime Nov 19, 2008
The indictment cites a "money trail" of Cheney's ownership in prison-related enterprises including the Vanguard Group, which owns an interest in private prisons in south Texas. Former attorney general Gonzales used his position to "stop the investigations as to the wrong doings" into assaults in county prisons, the indictment said. (Reuters)
Dick Cheney, Alberto Gonzales indicted Nov 19, 2008
The indictment cites Cheney's investment in the Vanguard Group, a major brokerage and mutual fund firm with financial interests in private prison companies that run federal detention centers, the newspaper reported. It charged that Cheney had a conflict of interest and was responsible for "at least misdemeanor assaults" on detainees. (Sify.com, India)
Texas Grand Jury Indicts Vice President Nov 19, 2008
The indictment criticizes Cheney's investment in the Vanguard Group, which holds interests in the private prison companies running the federal detention centers and accuses the vice president of a conflict of interest and "at least misdemeanor assaults" on detainees by working through the prison companies. The indictment accuses Gonzales of using his position while in office to stop an investigation into abuses at the federal detention centers. (KWTX.com, TX)
The tale of three suburban projects Nov 11, 2008
The office portion of Worthington will total 490,000 square feet and aim to lure investment management brokerage firms that want to be near Vanguard Group, which maintains its headquarters around the corner. While Worthington s retail space is scheduled to be completed by late next year, Realen Properties has missed that target for its Village at Valley Forge. (Philadelphia Business Journal, PA)
College savings funds take hit Nov 9, 2008
6 accounts, said John Heywood, the principal for college savings programs at The Vanguard Group. Vanguard manages New York s 529 plans. (Utica NY Obserer, NY)
Fidelity to cut nearly 1,300 jobs Nov 7, 2008
But money-market funds don't generate as much fee revenue as mutual funds, and the FRC data show this year's drop in mutual fund assets at Fidelity has been steeper than at rivals Vanguard Group and Capital Group's American Funds. "Fidelity's business model is based on assets under management, and the fees they generate," said Jim Lowell, a former Fidelity employee who runs the independent newsletter Fidelity Investor. (Concord Monitor)
Bogle: Declines in Valuations Overblown Nov 6, 2008
Vanguard Group Founder Jack Bogle expects a moderate-to-serious recession lasting at least a year-and-a-half, or longer. Even so, Bogle feels that the market has priced that recession in by now. (Newsmax)
Strong election-day rally sends S&P above 1,000; oil jumps Nov 5, 2008
The declines in valuations are overblown, legendary investor and Vanguard Group founder John Bogle said Tuesday. "The value of the U.S. stock market was $18 trillion a year ago. And now it's about $9.5 trillion or let's call it $10 trillion with today's rally. Anyone who believes that American business is worth $8 trillion less than it was a year ago I think is a fool," he told Reuters in a telephone interview. (USA Today -- Money)
Industry to propose money-market fund changes Nov 5, 2008
The panel's leader will be John Brennan, chairman of Vanguard Group Inc. The Money Market Working Group also will include executives from several other major fund companies, including Fidelity Investments, BlackRock Inc., Legg Mason Inc. and Charles Schwab Corp.. ICI said the panel expects to present recommendations early next year. (San Diego Union-Tribune -- Business)
Recession may jeopardize 401(k) contributions Nov 5, 2008
The Vanguard Group Inc. said its research indicates about 5 percent of company plans it manages suspended or reduced matches in the 2001 to 2003 recession. Spokeswoman Linda Wolohan said it's too early to determine whether that experience will repeat itself in the current downturn because such trends sometimes take months to emerge. (San Diego Union-Tribune -- Business)
Mutual Funds &Personal Finance Oct 31, 2008
Vanguard Group had net inflow of $1. 9 billion in September vs. $4. (Investors Business Daily)
Vanguard arrives in King of Prussia Oct 25, 2008
Vanguard Group moves some workers into Liberty Property building - Philadelphia Business Journal ... Vanguard Group moves some workers into Liberty Property building. (Philadelphia Business Journal, PA)
Fed to Provide Up to $540 Billion to Aid Money Funds (Update6) Oct 22, 2008
This will take a lot of pressure off the Fed and the Treasury,'' , head of taxable money market funds for Valley Forge, Pennsylvania-based Vanguard Group Inc. Glocke said he'll be more willing to shift money he's invested in U.S. Treasuries back into financial-sector commercial paper covered by the plan. U.S. money-market mutual funds held more than 63 percent of outstanding unsecured commercial paper and 39 percent of asset- backed commercial paper at the beginning of September, according to ,... (Bloomberg)
Don't Bail On Mutual Funds Now As Market Rallies In Aging Bear Oct 18, 2008
Stampeding along with the herd is also not for John Bogle, founder and retired chief executive of the Vanguard Group, and dean of the mutual fund industry. "Jumping in and out of the market that's what speculators do," Bogle told IBD. "If you're an investor, you should follow other rules, not speculators' rules.". (Investors Business Daily)
McCain's next trick can win Oct 15, 2008
Retired Vanguard Group founder John Bogle would be the right type. A more conventional choice would be former Ronald Reagan Treasury secretary James Baker. (Asia Times Online)
College savings funds hit in market collapse Oct 15, 2008
If you have a 2-year-old you ve taken some hits, said John Heywood, a principal in The Vanguard Group, which manages the state s 529 plans. On the other hand, if their child is 16 and they chose a moderate or conservative track they re actually ahead for the last 12 months. (Catskill Daily Mail, NY)
Reversal of fortune: Stocks post record gain Oct 14, 2008
Through September, about 15 percent of the investors in 401(k) plans administered by Vanguard Group have shifted money in their accounts, according to Stephen Utkus of the investment's firm's Center for Retirement Research. "That means 85 percent have stuck with their original plan," he said. (Pittsburgh Post-Gazette, PA)
Market news this week for strong stomachs Oct 13, 2008
Early last week, the Federal Reserve and other central banks announced a coordinated set of interest rates cuts "and the response was moderate at best," says Gus Sauter, chief investment officer of Vanguard Group. Also late Friday, Treasury Secretary Henry Paulson gave more details on the government's latest plan to unclog the credit logjam by buying equity stakes in a "broad array of financial institutions.". (San Francisco Chronicle)
Swagger turns to shudder a year after market high Oct 10, 2008
Major mutual fund companies like The Vanguard Group, Fidelity Investments and T. Rowe Price all reported sharp increases in phone calls this week as some individual investors bailed out of the market and others sought words of reassurance. "It's consistent with the climate we're in. Obviously in times of significant market volatility, investors are interested in our thoughts about what they should be doing," Fidelity spokesman Vin Loporchio said. (Anchorage Daily News)
Hints credit may be easing Oct 10, 2008
Money market funds should be able to breathe a bit easier after the rate cut, as well as late Tuesday's news that Fidelity Investments and Vanguard Group Inc. are joining their rivals in participating in a temporary federal guarantee program to prop up the $3. 4 trillion money-market fund industry. (Albany Times Union)
Fed leads round of global rate cuts Oct 8, 2008
8: Jack Bogle, founder of the Vanguard group of mutual funds, discuses Wednesdays global rate cut and offers advice for individual investors retirement savings. CNBC. (Huntington WSAZ-TV, WV)
Fidelity opts for program guaranteeing money funds Oct 8, 2008
Fidelity Investments and Vanguard Group Inc., two heavyweights in the money-market mutual fund industry, said yesterday they will apply to participate in a temporary federal guarantee program to prop up the $3. 4 trillion money-market fund industry. (Boston Globe)
Fidelity, Vanguard Join Treasury Program Oct 8, 2008
Fidelity Investments, Vanguard Group and T. Rowe Price Group said they are joining the U.S. Treasury Department's guarantee program for money-market funds, meaning all the major fund families will participate in the program. Wednesday is the deadline to join. (Wall Street Journal)
Lehman Creditors Say JPMorgan Caused Liquidity Crisis by Grabbing Assets Oct 5, 2008
Vanguard Group Inc., Shinsei Bank Ltd., Mizuho Corporate Bank Ltd. and MetLife Inc. also are members of the committee, which acts for thousands of unsecured stakeholders in the bankrupt securities firm. Lehman Brothers Commodity Services Inc., sued by Bank of America Corp. last month for failing to return collateral provided for derivative transactions, filed yesterday for bankruptcy in New York, along with affiliated units. (Bloomberg)
Money-market fund providers seek guarantees Oct 4, 2008
As of Friday, most major fund families had issued statements indicating their intent to participate in the Treasury Department's fee-based program, with the notable exceptions including two of the biggest, Fidelity Investments and Vanguard Group Inc. Spokesmen for those two firms said Friday they were still considering whether to participate, and would decide in time for next Wednesday's application deadline. The list of money fund providers that have so far indicated plans to participate... (San Diego Union-Tribune -- Business)
Mutual funds urge calm amid market turbulence Oct 3, 2008
For its part, Vanguard Group, based in Pennsylvania, said up to 500,000 people a day have been logging in to its website, typical of a busy day during tax season and as much as 200,000 more than usual. That's still a small percentage of the 4 million households with accounts at the company, said Tim Buckley, managing director of Vanguard retail investor group. (Boston Globe)
4 questions for Vanguard on market volatility Sep 25, 2008
Vanguard Group Inc. has pored over decades of data on the ups and down of the Standard & Poor's 500, a broad stock market index, and concluded the latest volatility may have been magnified because many people are measuring it against the backdrop of 2004 to 2006 a period of calm markets, historically speaking. And while last week's gyrations were truly historic, big daily market declines over the past 12 months have often been quickly offset by gains for the 12 months ended last Friday, 10 of... (San Diego Union-Tribune)
2 mutual fund firms act to halt short sales Sep 24, 2008
The Vanguard Group Inc. is temporarily halting its lending of stocks to short-sellers. unit last week said it took a similar step. (Boston Globe)
Financial websites get busy amid turmoil Sep 23, 2008
At investment management company Vanguard Group, online activity was busy Thursday, about what the company sees during tax season, said spokeswoman Rebecca Cohen. She said investors log on to the site to check their accounts any time there is volatility in the markets. (Globe and Mail)
Paulson Rescue Gets Mixed Reviews: Either `Worst' Approach or `Giant Step' Sep 20, 2008
Sept. 19 (Bloomberg) -- Vanguard Group Inc. founder says the U.S. government is ``punch drunk. Federal Reserve historian calls it ``social democracy at its worst. (Bloomberg -- US)
Money-market fund's troubles spur industry moves Sep 18, 2008
One of the biggest, Vanguard Group Inc., posted a statement on its Web site saying it "continues to manage its money market funds very conservatively and with extreme prudence, focusing on the highest-quality short-term money market instruments.'' The Investment Company Institute, an industry organization, called the Reserve case "extremely rare,'' and said the "fundamental structure of money market funds remains sound.'' New York-based Reserve said the value of $785 million in unsecured debt... (The Star Online, Malaysia -- Business)
How to cope with seismic shifts in the sector Sep 17, 2008
Q. How safe are my investments in mutual funds and discount brokers such as Fidelity Investments, Vanguard Group, and & Co.. A. Mutual fund investments are safe, because these firms have not been directly affected by the problems stemming from Wall Street's investments in money-losing mortgage securities and related investments. (Boston Globe)
La Comunidad Hispana hires executive director Sep 16, 2008
Mirkil has more than 20 years of experience in marketing, communications, program management and strategic planning at corporations ranging from the Vanguard Group Inc. to MCI Communications. She has a bachelor s degree in international relations from the University of Pennsylvania and a master of business administration in finance and international business from Columbia University. (Philadelphia Business Journal, PA)
Ripples spreading in financial crisis Sep 16, 2008
Firms such as Fidelity Investments, American Funds and the Vanguard Group manage mutual funds, some of which can be bought through brokers. Fund investors share many company and market risks, but mutual funds per se can't go bankrupt, although the value of their holdings can decline sharply. (AZCentral -- News)
Add Lehman to the list: Credit casualties shake investors' faith Sep 16, 2008
Calls to the Vanguard Group, the big mutual fund company, "surged at the beginning of the trading day and subsequently subsided," says spokesman John Woerth. There was no increase in stock fund redemptions, he says. (USA Today -- Money)
Even in tough economic times, workers add to their retirement plans Sep 14, 2008
In a review of the more than 2,220 defined-contribution plans it oversees, the Vanguard Group found the number of workers adding money to vehicles like 401(k)s remained unchanged last year as did the amount they added. The average worker contribution of 7. (Boston Globe)
What to consider before tapping your 401(k) Sep 13, 2008
Linda Wolohan, a spokeswoman for The Vanguard Group, says financial advisers offer a reminder: Whenever you take money from your plan - even if you're paying it back over time - you reduce the amount available to grow and compound. In particular, if the market does especially well, you won't share fully in the gains. (AZCentral -- Business)
Management: Nice guys can win Sep 10, 2008
Jack Bogle, founder of the Vanguard Group, revolutionised an industry. He's retired now, but he still remains very active with writing and public speaking and trying to have a voice to help out the industry. (Sydney Morning Herald -- Business)
Takeover deal a mixed bag for investors Sep 9, 2008
9 percentage points, according to Robert Auwaerter, head of fixed income for Vanguard Group. While that's a step in the right direction, "we are still far from normal," he adds. (San Francisco Chronicle -- Business)
Going Global: How Do You Sep 8, 2008
In June, Vanguard Group Inc. introduced its first global index fund, Vanguard Total World Stock Index Fund. Fidelity International Spartan Index and Vanguard Total International Stock Index are ultra-low-cost non-U.S.-stock index funds with low minimum investments for those setting up an automatic monthly or quarterly investment plan to augment a tax-deferred savings plan. (Wall Street Journal)
Never Too Young To Learn Sep 7, 2008
Certified financial planner David Yeske also suggests reading "The Little Book of Common Sense Investing," by John C. Bogle, founder of the Vanguard Group. You can also get lots of information from two Web sites, www. (New York Post -- Business)
Wall Street, Funds Urge SEC to Keep Ratings in Rules Sep 5, 2008
Ironically, players like The Vanguard Group, one of the biggest in the $12. 3 trillion mutual fund industry, want less freedom instead of more, arguing the SEC-mandated ratings offer would-be investors a sense of comfort. (ABC News -- Wire)
Keeping up with 401(k) plan changes Sep 5, 2008
Because collective investment funds don't have some of the regulatory requirements of mutual funds, collective funds are less expensive than certain types of mutual funds, and so may be offered through a 401(k) plan at a lower cost to participants, said advisers at The Vanguard Group ... On the Net: The Vanguard Group. (San Diego Union-Tribune -- Business)
Paulson Asked to Spurn Rubin TIPS Favored by Pimco as Taxpayers Foot Bills Sep 3, 2008
5 billion of the debt for Vanguard Group in Valley Forge, Pennsylvania. TIPS allow the Fed to make better decisions on setting i to keep consumer price gains in check, he said. (Bloomberg)
Ford, Creekstone, Siemens Bribery Case, Archer Daniels, BHP in Court News Sep 2, 2008
Executives at The Vanguard Group, the second-biggest U.S. manager of stock and bond mutual funds, illegally invested client assets in companies running Internet gambling businesses banned in the U.S., according to a lawsuit ... The case is McBrearty v. The Vanguard Group, 08cv7650, U.S. District Court, Southern District of New York (Manhattan). (Bloomberg -- Germany)
Don't panic over volatility in the stock market, just prepare yourself Aug 31, 2008
The fractiousness in the past 12 months is "a little elevated," but not well outside what's been seen before, said Francis Kinniry Jr., a principal at Vanguard Group and coauthor of a study examining stock fluctuations. He contends volatility is simply a force that many investors hadn't been used to but that it's not uncommon or something to fear. (Boston Globe)
Obituaries for Aug. 31 Aug 31, 2008
He worked as a data analyst for the Vanguard Group in Malvern. An avid sports fan who had a lifelong passion for Philadelphia Eagles football, he was a season ticket holder for more than 20 years. (The Delaware County Times, PA)
Daily Briefing Aug 30, 2008
Executives at the Vanguard Group, the second-biggest U.S. manager of stock and bond mutual funds, illegally invested client assets in companies running Internet gambling businesses banned in the United States, according to a lawsuit. In a complaint filed Friday in U.S. District Court in New York, investors in two different Vanguard-managed funds claim the firm s chief investment officer, George Sauter, portfolio manager Duane Kelly and eight trustees violated U.S. racketeering laws and breached... (Atlanta Journal-Constitution -- Business)
Market volatility is unnerving but isn't unusual Aug 27, 2008
The fractiousness in the past 12 months is a little elevated, but not well outside what's been seen before, said Francis Kinniry Jr., a principal at Vanguard Group and co-author of a study examining stock market fluctuations. He contends volatility is simply a force that many investors hadn't been used to but that it's not uncommon or something to fear. (San Diego Union-Tribune -- Business)
INFLATION WORRIES STOKED WITH PPI RELEASE Aug 20, 2008
"It appears the market was in some ways discounting the recent elevation because of the sharp drop off in oil and commodity prices," said Joe Davis, chief economist for mutual fund firm Vanguard Group. But the pain isn't over yet, he said. (New York Post -- Business)
High borrowing costs defy Fed's interest rate cuts Aug 19, 2008
"It's a 17-year high," says Robert Auwaerter, head of fixed income at the Vanguard Group. Fannie and Freddie's mortgage-backed securities have averaged about half a percentage point more than Treasuries, he says. (USA Today -- Money)
Easing inflation could help bonds Aug 18, 2008
Robert Auwaerter, head of fixed income portfolio management at Vanguard Group, also suggests some muni funds are wise for investors looking for an area that had been beaten down. He also expects to see gains in some bond funds that are designed to protect against inflation, which he isn't convinced will moderate. (New Haven Register, CT)
Business Briefs Aug 18, 2008
Vanguard Group, Fi delity Investments and Capital Group are buy ing big in India, Taiwan and 00004000 Japan after a bear market erased 2. 3 tril lion from Asian stocks this year. (New York Post -- Business)
Easing inflation could turn more US investors' eyes toward bonds Aug 17, 2008
Robert Auwaerter, head of fixed income portfolio management at Vanguard Group, said Treasury Inflation Protected Securities, or TIPS, could be a good fit for some investors. The principal on these investments is linked to government inflation figures and increases as prices rise. (Boston Globe)
Solar energy: 'It's a win-win-win' Aug 14, 2008
The congressman visited the Vanguard Group, Scottsdale Airpark office buildings and the Body Sculpting Center ... The newest building at the Vanguard Group's north Scottsdale four-building campus uses solar panels. (AZCentral -- News)
How Ginnie Mae differs from Fannie, Freddie Aug 5, 2008
Ginnie Maes account for about 10 percent of the mortgage-backed securities market, says Dan Newhall, a principal with Vanguard Group. Fannie and Freddie are much bigger and more diversified. (San Francisco Chronicle -- Business)
Wake-Up Call For Minrad Jul 29, 2008
Major stockowners include mutual fund complex Vanguard Group, with a 1. 5% stake, and one of its key outside managers, Wellington Management, which holds 7. (Forbes -- Markets)
U.S. stocks face prolonged bear dance Jul 25, 2008
And the Vanguard Group, the fund company that's popular among retail investors because of its low fees, points to another worrisome sign: Last December, so-called hardship withdrawals shot up 22 per cent from a year earlier. The increase in hardship withdrawals at Vanguard suggests rising economic pressures on financially vulnerable households, possibly related to the national crisis in subprime and adjustable rate mortgages, said William Nessmith and Stephen Utkus, authors of a Vanguard report... (Globe and Mail -- Business)
'Collective funds' gain traction in 401(k)s Jul 25, 2008
That's driving 401(k) plans to embrace these products, which are offered by big fund providers like Fidelity Investments, Vanguard Group and Charles Schwab Corp. as well as by banks and trust companies. Only 58 percent of large defined-contribution plans such as 401(k)s used retail mutual funds in 2007, down from 65 percent in 2003, according to research and consulting firm Greenwich Associates. (AZCentral -- Business)
Fannie, Freddie Lure Short-Term Debt Investors as Shares Sink Jul 15, 2008
Vanguard Group and Federated Investors Inc. said they will continue to buy the short-term debt of the companies and the cost to protect debt of Fannie Mae and Freddie Mac from default fell to the lowest in two months yesterday. Washington-based fell 5. (Bloomberg)
A different take on retirement Jul 6, 2008
He says his calculators are free from the conflicts of interest built into those that fund companies like Fidelity Investments, TIAA-CREF, and Vanguard Group Inc. offer on their websites ... But the chairman of rival Vanguard Group, John J. Brennan, last year posted a response on the company's website. (Boston Globe)
Bonds: • Bonds Reap Rewards Of Stocks' Woes, But Inflation Fears, Oil Prices Limit Gains Jun 27, 2008
"We think they will be on hold until December or early 2009," said Kenneth Volpert, senior portfolio manager at the Vanguard Group. The five-year Treasury note ended up 16/32 in price for a yield of 3. (Investors Business Daily)
Harry Domash: How to find green energy stocks Jun 22, 2008
A: That's been a controversial topic since John Bogle, founder of the Vanguard Group, started the Vanguard 500 Index Fund in 1975. An index fund tracks a fixed list of stocks that changes infrequently. (San Francisco Chronicle -- Business)
5 Businessmen Named Fathers Of The Year Jun 19, 2008
Lawrence completed an internship with The Vanguard Group, where she will now work while pursuing the Chartered Financial Analyst (CFA) designation. Grissom of Campbell High School is one of only 20 African-American students, chosen from among than 5,600 high school students, to be a 2008 Ron Brown Scholar. (Atlanta Daily World, GA)
Vanguard Steps Up To The Plate Jun 11, 2008
John Bogle, founder of the Vanguard Group and one of the 20th century's great innovators in finance, made a colossal mistake 17 years ago. He sent Nathan Most packing. (Forbes)
