| Lenders' pitches aiming higher
Despite the mortgage meltdown, the blizzard of advertising for home loans continues.
With the subprime market in tatters in the wake of record defaults and foreclosures, fewer pitches scream "Bad credit? No problem!" Instead, lenders struggling to remain profitable are targeting people who have good credit and plenty of home equity.
With fewer homes being sold -- and, therefore, fewer loans taken out to finance purchases -- mortgage firms that have survived the subprime shakeout are focusing their marketing on persuading homeowners to refinance.
.
Peoples Bancorp Announces Fourth Quarter Earnings Results
NEWTON, N.C., Jan. 22 /PRNewswire-FirstCall/ -- Peoples Bancorp of North Carolina, Inc. (Nasdaq: PEBK - News), the parent company of Peoples Bank, reported net income of $1.6 million, or $0.28 basic and diluted net income per share, for the three months ended December 31, 2007 as compared to $1.9 million or $0.33 basic and diluted net income per share, for the same period one year ago. December 31, 2006 per share amounts have been restated to reflect the 3- for-2 stock split declared and distributed during the second quarter 2007. Tony W. Wolfe, President and Chief Executive Officer, attributed the decrease in fourth quarter earnings to a decrease in net interest income, an increase in provision for loan losses and an increase in non-interest expense, which were partially offset by an increase in non-interest income.
Dimon May Be Hunting
It's time to pounce for J.P. Morgan Chase & Co. Chief Executive James Dimon and other top bosses of financial companies that have avoided a serious battering from the credit crunch. Emboldened by a healthy balance sheet and stock that yesterday vaulted J.P. Morgan ahead of Citigroup Inc. in market capitalization, Mr. Dimon is showing how aggressively some survivors of the continuing carnage are revving up their expansion ambitions, both through takeovers and pushing hard in businesses where rivals are in retreat. Despite a 34% drop in fourth-quarter profit and tighter underwriting standards, J.P. Morgan said its mortgage-origination volume surged by about a third compared with a year earlier. Taking advantage of the free fall at many mortgage lenders, J.P. Morgan has boosted its share of the U.S.
Will perfection or Cinderella prevail in Super Bowl?
The Giants made the NFC playoffs as a wild card with a 10-6 record. They have been nearly perfect in one aspect. They have won 10 straight road games -- seven in the regular season and three in the playoffs -- after losing their opener on the road to Dallas. The Giants have won two Super Bowls -- in the 1986 and 1990 seasons. The 2000 team lost to Baltimore in the Super Bowl. The Patriots are 12 1/2 -point favorites over the Giants, a team they beat, 38-35, in the last game of the regular season. The Patriots walked in the Giants' shoes in the 2001 season, when they won the first of their three Super Bowls. The Patriots were 14-point underdogs to the St. Louis Rams, who beat Tennessee in the Super Bowl in the 1999 season. When the Patriots got the ball deep in their territory late in regulation time, it looked like they would play it safe and hope to win in overtime.
Diamonds may be forever, but rebate isn't
You don't want to know what germs you can pick up from an escalator. You don't want to know how many grams of fat are in a Steak 'n Shake beef taco salad. (Sixty-eight and a half. Seri- ously.) We associate diamonds with commitment, endurance. True love. You have to look awfully close to see a diamond's flaws. Good thing, too. Diamonds might not be your best friend if you knew that, despite the exorbitant payout, De Beers still refuses to admit any wrongdoing. .
|
