+Vote!
State of the Division (Free subscription) | 01/12/2008
Ex-Nebraska Governor and Senator Bob Kerrey, the highly respected 9-11 Commission co-chair, surfaced not long ago as a corporate board member for Tenet Healthcare, Genworth Financial, Jones Apparel and Scientific Games Corporation. Conde Nast Portfolio mentioned Mr. Kerrey in a story on Pete G. Peterson of the Blackstone Group, the Council on Foreign Relations and the Peter G. Peterson Foundation....
+Vote!
Business Wire (Free subscription) | 20/11/2008
CHICAGO--(BUSINESS WIRE)--Fitch Ratings has today withdrawn Genworth Financial, Inc.'s (NYSE: GNW) Issuer Default Rating (IDR) of 'A-'; Negative Outlook, as well as the Insurer Financial Strength (IFS) ratings and
+Vote!
Credit Writedowns (Free subscription) | 18/11/2008
Why not? Aegon, a Dutch company, is trying the same maneuver that Genworth Financial and Hartford, two American companies, are trying -- it's buying a small depositary institution. This will give it access to the U.S. Troubled Asset Relief Program (TARP). Forget about foreclosures, the TARP is now about recapitalizing financial institutions. But, does that mean domestic and foreign institutions? Aegon...
+Vote!
Reverse Mortgage Daily (Free subscription) | 17/11/2008
Genworth Financial announced it’s applying to become a savings and loan after it reached a deal to acquire Interbank, fsb. Genworth, a provider of life and mortgage insurance products, will acquire the Maple Grove, Minnesota based bank for an undisclosed sum. The community bank has about $1 billion in assets according to its website. Assuming [...]
+Vote!
The Minneapolis/St. Paul Business Journal (Free subscription) | 17/11/2008
InterBank has agreed to be sold to insurer Genworth Financial Inc. for an undisclosed amount. (GNW)
+Vote!
InformedTrades (Free subscription) | 17/11/2008
TheStreet_news said: $$ Genworth Financial Buys Small Bank to Access TARP Funds (GNW): Genworth Financial (GNW) annou.. http://tinyurl.com/5ubljl ...
+Vote!
Market Watch (Free subscription) | 17/11/2008
Shares of Genworth Financial rally in early trading, gaining 25% as the company said it’s applied to become a savings and loan, in what's otherwise been a weak start for the financial sector.
1Vote!
Market Watch (Free subscription) | 17/11/2008
NEW YORK (MarketWatch) -- Shares of insurer Genworth Financial Inc. rallied 25% in early trading in an otherwise weak financial sector after the company said it has applied to become a savings and loan. The move would make Genworth eligible for government funds under the Treasury Department's financial rescue package. Genworth also agreed in principle to acquire InterBank of Maple Grove, Minn. In...
+Vote!
Market Watch (Free subscription) | 17/11/2008
BOSTON (MarketWatch) -- Shares of insurer Genworth Financial Inc. rallied 25% in premarket trading Monday morning after the company said it has applied to become a savings and loan. The move would make Genworth eligible for government funds under the Treasury Department's financial rescue package. Genworth also agreed in principle to acquire InterBank of Maple Grove, Minn. Market Pulse Stories are...
+Vote!
InformedTrades (Free subscription) | 17/11/2008
TEL AVIV (MarketWatch) -- Genworth Financial, the Richmond, Va., financial-services provider, agreed in principle to acquire InterBank of Maple...
+Vote!
In Paulson We Trust (Free subscription) | 17/11/2008
Two insurance companies, Genworth Financial and Hartford Financial, both announced that they applied for TARP funds. How did they do this? Well, they acquired banks. This allows Genworth and Hartford to file “savings and loan holding company” applications with the government. Assuming this is approved, they become eligible to at least apply for funding though [...]
+Vote!
The Doomsday Report (Free subscription) | 17/11/2008
Genworth Financial, the insurance company, just reached an agreement to purchase a small savings and loan company. Why? So it can dip its hand in the bailout cookie jar. Per Bloomberg , Genworth bought the bank for $10 million and expects to raise up to $3.4 billion. This is a perfect examply of why government intervention does not achieve its intended goals. It's easy to see what motivated Genworth...
+Vote!
Offshore Services (Free subscription) | 17/11/2008
Life and mortgage insurer Genworth Financial Inc said on Sunday it applied for capital under a US government program after reaching a deal to buy a bank and requesting savings and loan company status.
+Vote!
InformedTrades (Free subscription) | 16/11/2008
NEW YORK (Reuters) - Life and mortgage insurer Genworth Financial Inc said on Sunday it applied for capital under a U.S. government program after...
+Vote!
Stock Insight (Free subscription) | 16/11/2008
See links below: Genworth Announces Filing for Savings and Loan Holding Company Status InterBank fsb Announces Agreement with Genworth Financial Genworth in deal to buy bank, seeks TARP money All of this was expected, in my opinion (see yesterday's post). Let's see how the stock price reacts tomorrow.
