SourceMedia http://www.alacrastore.com/publisher-rss/sourcemedia Friday, July 25, 2008 11:48:14 PM 272 en AlacraStore RSS Builder 1.0 30 http://www.alacrastore.com/storecontent/tfmedia/20080725X725_00001tfmedia/20080725X725_00001norm Citigroup today reported net income of $### million from its credit and debit cards portfolio for the second quarter ended June ##, down ##.#% from $#.# billion during the same period last year. Contributing to that lower income were...CardlineX7/25/2008 9:45:34 PMX20080725X725_00001NewsSourceMediahttp://www.alacrastore.com/storecontent/tfmedia/20080725X725_00002tfmedia/20080725X725_00002norm Capital One Financial Corp.'s U.S. Card segment yesterday reported net income of $###.# million for the second quarter ended June ##, down ##.#% from $###.# million for the same period last year. Net card revenues were $#.# billion,...CardlineX7/25/2008 9:45:34 PMX20080725X725_00002NewsSourceMediahttp://www.alacrastore.com/storecontent/tfmedia/20080725X725_00003tfmedia/20080725X725_00003norm Smaller merchants can steer some of their transactions to debit networks with a new service from Merchant Warehouse, a Boston-based independent sales organization. The ISO announced the BINsmart Interchange Manager this week as part...CardlineX7/25/2008 9:45:34 PMX20080725X725_00003NewsSourceMediahttp://www.alacrastore.com/storecontent/tfmedia/20080725X725_00004tfmedia/20080725X725_00004norm Visa Inc. has equipped more than #,### London retailers with its contactless payWave technology and expects that number to reach ##,### by the end of the year. By ####, when London plays host to the Olympic Games, payWave readers will...CardlineX7/25/2008 9:45:34 PMX20080725X725_00004NewsSourceMediahttp://www.alacrastore.com/storecontent/tfmedia/20080725X725_00005tfmedia/20080725X725_00005norm A flaw in a software update prevented corporate and independently owned Hallmark Cards Inc. stores from processing PIN-debit transactions Wednesday, a company spokesperson tells CardLine. Fewer than ## transactions were affected, and...CardlineX7/25/2008 9:45:34 PMX20080725X725_00005NewsSourceMediahttp://www.alacrastore.com/storecontent/tfmedia/20080725X725_00006tfmedia/20080725X725_00006norm Residents of the swing states of Ohio and Florida cite credit card debt as one of their top "problems," according to a poll gauging consumers' biggest economic concerns during this election year. Politicos define swing states as those...CardlineX7/25/2008 9:45:34 PMX20080725X725_00006NewsSourceMediahttp://www.alacrastore.com/storecontent/tfmedia/20080725X725_00007tfmedia/20080725X725_00007norm Revolution Money Inc., which owns the new credit card brand RevolutionCard, has decided against a direct-to-merchant sales effort. Instead, the St. Petersburg, Fla.-based company intends to secure card acceptance by working with independent...CardlineX7/25/2008 9:45:34 PMX20080725X725_00007NewsSourceMediahttp://www.alacrastore.com/storecontent/tfmedia/20080725X725_00008tfmedia/20080725X725_00008norm Charge Anywhere, a wireless-payment company, is working with independent sales organization CoCard Marketing Group LLC to provide wireless payment terminals and transaction service for the Pan-Mass Challenge Aug. # to #. Organizers...CardlineX7/25/2008 9:45:34 PMX20080725X725_00008NewsSourceMediahttp://www.alacrastore.com/storecontent/tfmedia/20080725X725_00009tfmedia/20080725X725_00009norm The Sacramento County, Calif., Sheriff's Department has charged six women arrested between December and April with ### felony counts for their alleged participation in an international credit card-fraud scheme, the department announced...CardlineX7/25/2008 9:45:34 PMX20080725X725_00009NewsSourceMediahttp://www.alacrastore.com/storecontent/tfmedia/20080725X725_00010tfmedia/20080725X725_00010norm Bank of America Corp. today reported second quarter net income of $#.## billion for the second quarter ended June ##, down ##.#% from $#.## billion during the same period last year. Net income for the card services segment was $###...CardlineX7/25/2008 9:45:34 PMX20080725X725_00010NewsSourceMediahttp://www.alacrastore.com/storecontent/tfmedia/20080725X725_00011tfmedia/20080725X725_00011norm Moneris Solutions Inc. today announced it is acquiring Alabama National BanCorp.'s merchant-payment business in an agreement that expands the payment processor's presence in the Southeast. Moneris, whose U.S. headquarters is in Schaumburg,...CardlineX7/25/2008 9:45:34 PMX20080725X725_00011NewsSourceMediahttp://www.alacrastore.com/storecontent/tfmedia/20080725X725_00012tfmedia/20080725X725_00012norm IMS Inc. today announced a service that enables merchants to contribute to nonprofit organizations by diverting to a charity ##% of the credit and debit card processing fees they pay to IMS, according to the company. Interchange is...CardlineX7/25/2008 9:45:34 PMX20080725X725_00012NewsSourceMediahttp://www.alacrastore.com/storecontent/tfmedia/20080725X725_00013tfmedia/20080725X725_00013norm Navy Federal Credit Union, the world's largest credit union in terms of members and assets, has become a direct member of NACHA, the Herndon, Va.-based electronic-payments organization that oversees U.S. development and management of...CardlineX7/25/2008 9:45:34 PMX20080725X725_00013NewsSourceMediahttp://www.alacrastore.com/storecontent/tfmedia/20080725X725_00014tfmedia/20080725X725_00014norm Claim Jumper Restaurants LLC is buying VeriFone Vx### wireless point-of-sale terminals for use at its ## restaurants, VeriFone Holdings Inc. announced today. San Jose, Calif.-based VeriFone says Claim Jumper will use the terminals inside...CardlineX7/25/2008 9:45:34 PMX20080725X725_00014NewsSourceMediahttp://www.alacrastore.com/storecontent/tfmedia/20080725X725_00015tfmedia/20080725X725_00015norm France-based card maker Gemalto has agreed to buy InCard Display cards that display one-time passwords for data-access and financial-transaction authentication from Los Angeles-based Innovative Card Technologies Inc., an Innovative...CardlineX7/25/2008 9:45:34 PMX20080725X725_00015NewsSourceMediahttp://www.alacrastore.com/storecontent/tfmedia/20080725X725_00016tfmedia/20080725X725_00016norm Comdata Corp. has promoted Keela Wofford to senior vice president of financial services....Global Payments Inc. announced today that The CashLINQ Group, a merchant-services provider and independent sales organization, has signed a multiyear...CardlineX7/25/2008 9:45:34 PMX20080725X725_00016NewsSourceMediahttp://www.alacrastore.com/storecontent/tfmedia/20080725X725_00017tfmedia/20080725X725_00017norm Citing slowing momentum and rising charge-offs caused by the weakening economy, American Express Co. yesterday reported net income of $## million for its U.S. Card Services division for the second quarter ended June ##, a ##% decline...CardlineX7/25/2008 9:45:34 PMX20080725X725_00017NewsSourceMediahttp://www.alacrastore.com/storecontent/tfmedia/20080725X725_00018tfmedia/20080725X725_00018norm Fifth Third Bancorp is reporting $### million in revenue from processing electronic payments for the second quarter ended June ##, up ##% from $### million in the same period last year. The Cincinnati-based bank attributes a ##% increase...CardlineX7/25/2008 9:45:34 PMX20080725X725_00018NewsSourceMediahttp://www.alacrastore.com/storecontent/tfmedia/20080725X725_00019tfmedia/20080725X725_00019norm Wachovia Corp. today announced that its General Bank segment, which includes credit and debit cards, mortgages and other products for consumers and businesses, earned $#.# billion during the second quarter ended June ##, down ##% from...CardlineX7/25/2008 9:45:34 PMX20080725X725_00019NewsSourceMediahttp://www.alacrastore.com/storecontent/tfmedia/20080725X725_00020tfmedia/20080725X725_00020norm Bank of America Corp. is issuing Visa-branded prepaid cards to U.S. Olympic and Paralympic athletes for the #### Summer Olympics, Aug. # to ## in Beijing, the company announced today. BofA is the official bank sponsor of the #### Olympic...CardlineX7/25/2008 9:45:34 PMX20080725X725_00020NewsSourceMediahttp://www.alacrastore.com/storecontent/tfmedia/20080725X725_00021tfmedia/20080725X725_00021norm Visa Inc., a worldwide partner of the #### Summer Olympic Games in Beijing, will install ## ATMs in and around the Olympic Village before the games open Aug. #. Visa is placing some of the ATMs in the Olympic Press Center, International...CardlineX7/25/2008 9:45:34 PMX20080725X725_00021NewsSourceMediahttp://www.alacrastore.com/storecontent/tfmedia/20080725X725_00022tfmedia/20080725X725_00022norm Co-op Financial Services will process electronic funds transfers and support ATM check imaging for Caltech Employees Federal Credit Union in La Canada Flintridge, Calif., both companies announced Friday. Caltech, founded in #### for...CardlineX7/25/2008 9:45:34 PMX20080725X725_00022NewsSourceMediahttp://www.alacrastore.com/storecontent/tfmedia/20080725X725_00023tfmedia/20080725X725_00023norm Visa Inc. plans to buy a stake in payment card network China UnionPay, according to a recent report in China Knowledge, a Chinese news service. Visa declined to comment. "It is not Visa's practice [to] comment on speculative articles...CardlineX7/25/2008 9:45:34 PMX20080725X725_00023NewsSourceMediahttp://www.alacrastore.com/storecontent/tfmedia/20080725X725_00024tfmedia/20080725X725_00024norm Greenings International, an executive search firm, has appointed Roger Alexander as chairman and head of its cards and payments practice. ...Endpointe Exchange LLC, a division of Metavante Technologies Inc., says The Bankers Bank, a...CardlineX7/25/2008 9:45:34 PMX20080725X725_00024NewsSourceMediahttp://www.alacrastore.com/storecontent/tfmedia/20080725X725_00025tfmedia/20080725X725_00025norm Cost Plus Inc. announced yesterday that someone may have tampered with the payment-terminal PIN pads at eight of its Cost Plus World Market stores in Southern California between February and April. The Oakland, Calif.-based chain of...CardlineX7/25/2008 9:45:34 PMX20080725X725_00025NewsSourceMediahttp://www.alacrastore.com/storecontent/tfmedia/20080725X725_00026tfmedia/20080725X725_00026norm To comply with payment-security rules, all PIN-entry keypads, the kind used at Cost Plus World Market stores, must incorporate encryption technology that protects consumers' data as the information travels across payment networks, Mercator...CardlineX7/25/2008 9:45:34 PMX20080725X725_00026NewsSourceMediahttp://www.alacrastore.com/storecontent/tfmedia/20080725X725_00027tfmedia/20080725X725_00027norm Rep. Carolyn B. Maloney, D-N.Y., and ## other House lawmakers this week sent a signed letter to the Federal Reserve Board, the Office of Thrift Supervision and the National Credit Union Administration supporting the agencies' proposed...CardlineX7/25/2008 9:45:34 PMX20080725X725_00027NewsSourceMediahttp://www.alacrastore.com/storecontent/tfmedia/20080725X725_00028tfmedia/20080725X725_00028norm Washington Mutual Inc. yesterday reported a net loss for its card services group of $### million for the second quarter, which ended June ##, a substantial decrease from net income of a $### million-gain during the same period a year...CardlineX7/25/2008 9:45:34 PMX20080725X725_00028NewsSourceMediahttp://www.alacrastore.com/storecontent/tfmedia/20080725X725_00029tfmedia/20080725X725_00029norm In a contract valued at up to $## million, the U.S. Postal Service will buy up to ##,### VeriFone Vx### countertop point-of-sale terminals over the next three years for use at its customer-service windows, VeriFone Holdings Inc. announced...CardlineX7/25/2008 9:45:34 PMX20080725X725_00029NewsSourceMediahttp://www.alacrastore.com/storecontent/tfmedia/20080725X725_00030tfmedia/20080725X725_00030norm The Members Group has begun offering Visa-branded payroll cards for credit unions to sell to their business customers, the company announced yesterday. The Des Moines, Iowa-based Members Group began testing the payroll card in July...CardlineX7/25/2008 9:45:34 PMX20080725X725_00030NewsSourceMediahttp://www.alacrastore.com/storecontent/tfmedia/20080725X725_00031tfmedia/20080725X725_00031norm The Association of Vermont Credit Unions has signed an agreement with Co-op Financial Services to promote Co-op's surcharge-free ATM network to its members, the two organizations announced Tuesday. "We've had a growing interest to expand...CardlineX7/25/2008 9:45:34 PMX20080725X725_00031NewsSourceMediahttp://www.alacrastore.com/storecontent/tfmedia/20080725X725_00032tfmedia/20080725X725_00032norm ChargeSmart LLC, which supports online, card-based payment services for mortgages, auto loans, leases and utility bills, has opened its headquarters in downtown San Francisco. ...Point-of-sale terminal maker ExaDigm Inc. has named Tim...CardlineX7/25/2008 9:45:34 PMX20080725X725_00032NewsSourceMediahttp://www.alacrastore.com/storecontent/tfmedia/20080725X725_00033tfmedia/20080725X725_00033norm The economic downturn is dampening affluent customers' card spending, and some cardholders with higher-than-average FICO credit scores are defaulting on card accounts, American Express Co. executives said Monday during a conference...CardlineX7/25/2008 9:45:34 PMX20080725X725_00033NewsSourceMediahttp://www.alacrastore.com/storecontent/tfmedia/20080725X725_00034tfmedia/20080725X725_00034norm Dover Corp., which released second-quarter earnings Wednesday, said it is close to selling Triton Systems of Delaware, the financially troubled off-premise ATM manufacturer, to an undisclosed buyer. "We have moved Triton from Engineered...CardlineX7/25/2008 9:45:34 PMX20080725X725_00034NewsSourceMediahttp://www.alacrastore.com/storecontent/tfmedia/20080725X725_00035tfmedia/20080725X725_00035norm Independent sales organizations can earn higher margins by concentrating on a few specific market segments instead of spreading their efforts among numerous segments, Ken Musante, president of Eureka, Calif.-based Humboldt Merchant...CardlineX7/25/2008 9:45:34 PMX20080725X725_00035NewsSourceMediahttp://www.alacrastore.com/storecontent/tfmedia/20080725X725_00036tfmedia/20080725X725_00036norm The city of Chicago plans to offer residents $### prepaid MasterCard gift cards in exchange for guns, officials announced this week. Residents who bring in replicas of guns, BB guns and air rifles will receive $## prepaid MasterCards....CardlineX7/25/2008 9:45:34 PMX20080725X725_00036NewsSourceMediahttp://www.alacrastore.com/storecontent/tfmedia/20080725X725_00037tfmedia/20080725X725_00037norm WRG Services Inc., an ATM manufacturer, processor and independent sales organization, recently announced it is processing more than # million transactions per month at more than #,### processing locations nationwide. That represents...CardlineX7/25/2008 9:45:34 PMX20080725X725_00037NewsSourceMediahttp://www.alacrastore.com/storecontent/tfmedia/20080725X725_00038tfmedia/20080725X725_00038norm OnPoint Community Credit Union, Oregon's largest credit union based on membership, today announced it signed an outsourcing agreement with Diebold Inc. The agreement calls for North Canton, Ohio-based Diebold to sell envelope-free Opteva...CardlineX7/25/2008 9:45:34 PMX20080725X725_00038NewsSourceMediahttp://www.alacrastore.com/storecontent/tfmedia/20080725X725_00039tfmedia/20080725X725_00039norm The credit card market in the world's Islamic regions will increase from fewer than # million cards now to about # million by ####, according to a report released Monday by the Waltham, Mass.-based research firm TowerGroup. Some ###...CardlineX7/25/2008 9:45:34 PMX20080725X725_00039NewsSourceMediahttp://www.alacrastore.com/storecontent/tfmedia/20080725X725_00040tfmedia/20080725X725_00040norm Payment processor TransFirst LLC says it has added AdvanceMe Inc. merchant cash-advance services to it list of products available to more than ###,### TransFirst merchants. (c) #### CardLine and SourceMedia, Inc. All Rights Reserved....CardlineX7/25/2008 9:45:34 PMX20080725X725_00040NewsSourceMediahttp://www.alacrastore.com/storecontent/tfmedia/20080724AD724_00001tfmedia/20080724AD724_00001norm DIEBOLD TO SELL AND MANAGE ATMS IN DEAL WITH ONPOINT CREDIT UNION OnPoint Community Credit Union, Oregon’s largest credit union based on membership, Wednesday announced it signed an outsourcing agreement with Diebold Inc. The agreement...ATM&Debit NewsAD7/24/2008 9:45:15 PMAD20080724AD724_00001NewsSourceMediahttp://www.alacrastore.com/storecontent/tfmedia/20080724AD724_00002tfmedia/20080724AD724_00002norm As Hurricane Dolly raked parts of Texas today and Wednesday, the U.S. Treasury Department saw the Category # storm as another opportunity to encourage Social Security and Supplemental Security Income recipients to switch from checks...ATM&Debit NewsAD7/24/2008 9:45:15 PMAD20080724AD724_00002NewsSourceMediahttp://www.alacrastore.com/storecontent/tfmedia/20080724AD724_00003tfmedia/20080724AD724_00003norm Dover Corp., which released its second-quarter earnings Wednesday, said it is close to selling Triton Systems of Delaware, the financially troubled off-premise ATM manufacturer, to an undisclosed buyer. “We have moved Triton from Engineered...ATM&Debit NewsAD7/24/2008 9:45:15 PMAD20080724AD724_00003NewsSourceMediahttp://www.alacrastore.com/storecontent/tfmedia/20080724AD724_00004tfmedia/20080724AD724_00004norm When the #### Beijing Summer Olympic Games open Aug. #, athletes will compete on the track, in the pool, in the boxing ring and elsewhere for gold medals. Meanwhile, competition of another sort will unfold outside the sports venues...ATM&Debit NewsAD7/24/2008 9:45:15 PMAD20080724AD724_00004NewsSourceMediahttp://www.alacrastore.com/storecontent/tfmedia/20080724AD724_00005tfmedia/20080724AD724_00005norm Navy Federal Credit Union, the world’s largest credit union in terms of members and assets, has joined Nacha–The Electronic Payments Association as a direct member, both organizations recently announced. Nacha oversees development of...ATM&Debit NewsAD7/24/2008 9:45:15 PMAD20080724AD724_00005NewsSourceMediahttp://www.alacrastore.com/storecontent/tfmedia/20080724AD724_00006tfmedia/20080724AD724_00006norm At least # million consumers in the United Kingdom have access to ### ATMs that charge no transaction fees under a program designed to bring less-expensive financial services to low-income areas, British treasury officials say. Installation...ATM&Debit NewsAD7/24/2008 9:45:15 PMAD20080724AD724_00006NewsSourceMediahttp://www.alacrastore.com/storecontent/tfmedia/20080724AD724_00007tfmedia/20080724AD724_00007norm WRG PROCESSES MORE THAN # MILLION TRANSACTIONS PER MONTH WRG Services Inc., an ATM manufacturer, processor and independent sales organization, recently announced it is processing more than # million transactions per month, which company...ATM&Debit NewsAD7/24/2008 9:45:15 PMAD20080724AD724_00007NewsSourceMediahttp://www.alacrastore.com/storecontent/tfmedia/20080724AD724_00008tfmedia/20080724AD724_00008norm The Payment Card Industry Security Standards Council has added unattended payment terminals and hardware-security modules to its testing program for PIN-entry devices, the council announced last week. PCI-approved labs already evaluate...ATM&Debit NewsAD7/24/2008 9:45:15 PMAD20080724AD724_00008NewsSourceMediahttp://www.alacrastore.com/storecontent/tfmedia/20080724AD724_00009tfmedia/20080724AD724_00009norm BARCLAYCARD US Barclaycard US, the credit card business of Barclays PLC in the United States, has named Phillip W. Steitz chief information officer. Steitz will oversee enterprise-wide technology strategy, systems selection, management...ATM&Debit NewsAD7/24/2008 9:45:15 PMAD20080724AD724_00009NewsSourceMediahttp://www.alacrastore.com/storecontent/tfmedia/20080724AD724_00010tfmedia/20080724AD724_00010norm CARDS & PAYMENTS LATIN AMERICA WILL DISCUSS MOBILE BANKING Cards&Payments Latin America has scheduled a conference for Sept. ##-## at the InterContinental Hotel in Miami. Attendees will discuss mobile payments, smart cards and preventing...ATM&Debit NewsAD7/24/2008 9:45:15 PMAD20080724AD724_00010NewsSourceMediahttp://www.alacrastore.com/storecontent/tfmedia/20080721idd_00002tfmedia/20080721idd_00002norm In the days after the July # weekend, Wall Street offered its own fireworks display. US housing agencies saw the value of their shares drop to historic lows and concerns cropped up about their ability to continue to readily turn to...Investment Dealers' Digestidd7/21/2008 9:54:20 PMAleksandrs Rozensidd20080721idd_00002NewsSourceMediahttp://www.alacrastore.com/storecontent/tfmedia/20080721idd_00003tfmedia/20080721idd_00003norm Is a rumor a rumor if it's true? The answer, of course, is ... who cares?Just when you thought things couldn't get any worse-at least in the land of cold, hard facts like a quarter-of-a-trillion-dollars in bank write-downs,a complete...Investment Dealers' Digestidd7/21/2008 9:54:20 PMTom Granahanidd20080721idd_00003NewsSourceMediahttp://www.alacrastore.com/storecontent/tfmedia/20080721idd_00004tfmedia/20080721idd_00004norm Two events took place last week that should have boosted leveraged loan primary issuance-or at least should have been a catalyst for change. One was the launch of a $# billion structured investment vehicle, a deal led by Goldman Sachs....Investment Dealers' Digestidd7/21/2008 9:54:20 PMRichard Kellerhalsidd20080721idd_00004NewsSourceMediahttp://www.alacrastore.com/storecontent/tfmedia/20080721idd_00005tfmedia/20080721idd_00005norm Mezzanine financing, which was the redheaded stepchild of the debt markets during the heyday of easy credit and mega-LBO deals, is back. After record-setting fund raising in the first half of the year, mezzanine may be poised to take...Investment Dealers' Digestidd7/21/2008 9:54:20 PMMatthew Sheahanidd20080721idd_00005NewsSourceMediahttp://www.alacrastore.com/storecontent/tfmedia/20080721idd_00006tfmedia/20080721idd_00006norm Erin Callan, who was recently ousted from her position as Lehman Brothers' chief financial officer, will begin a new role as head of Credit Suisse's global hedge fund business on Sept. #. IDD learned that her last day at Lehman, where...Investment Dealers' Digestidd7/21/2008 9:54:20 PMEditorial Staffidd20080721idd_00006NewsSourceMediahttp://www.alacrastore.com/storecontent/tfmedia/20080721idd_00007tfmedia/20080721idd_00007norm Portfolio companies of private equity firms have surpassed the financial performance of publicly-listed companies for the third straight year, according to Ernst & Young.The accounting and professional services advisory firm's latest...Investment Dealers' Digestidd7/21/2008 9:54:20 PMKelly Holmanidd20080721idd_00007NewsSourceMediahttp://www.alacrastore.com/storecontent/tfmedia/20080721idd_00008tfmedia/20080721idd_00008norm IDD recently sat down for a chat with Nina Lesavoy, managing director and founder of Avec Capital, an affiliate of New York alternative assets advisory firm XT Capital Partners, to discuss the business of private equity fundraising...Investment Dealers' Digestidd7/21/2008 9:54:20 PMKelly Holmanidd20080721idd_00008NewsSourceMediahttp://www.alacrastore.com/storecontent/tfmedia/20080721idd_00009tfmedia/20080721idd_00009norm By hiring a seven-member team from boutique Bluffview Capital, Southern firm Stephens Inc. rejuvenated its media and real estate investment banking, as well as restructuring, wherewithal.Little Rock, Ark.-based Stephens recently appointed...Investment Dealers' Digestidd7/21/2008 9:54:20 PMJoshua Hamermanidd20080721idd_00009NewsSourceMediahttp://www.alacrastore.com/storecontent/tfmedia/20080721idd_00010tfmedia/20080721idd_00010norm UBS said last Wednesday it will offer to repurchase about $#.# billion in auction-rate securities held in its customer accounts as of last Tuesday.The firm said clients who accept the offer will receive cash in an amount equal to the...Investment Dealers' Digestidd7/21/2008 9:54:20 PMEditorial Staffidd20080721idd_00010NewsSourceMediahttp://www.alacrastore.com/storecontent/tfmedia/20080721idd_00011tfmedia/20080721idd_00011norm Standard & Poor's is proposing to incorporate credit stability as a key factor in its ratings in response to volatility that has hurt several types of securities.The credit agency said the purpose of the proposed change is to more closely...Investment Dealers' Digestidd7/21/2008 9:54:20 PMEditorial Staffidd20080721idd_00011NewsSourceMediahttp://www.alacrastore.com/storecontent/tfmedia/20080721idd_00012tfmedia/20080721idd_00012norm Struggling financial-services stocks got a much-needed boost last week, rallying on the heels of relatively good earnings from Wells Fargo and JPMorgan, and ongoing efforts by the US government to prop up the ailing sector.Wells Fargo...Investment Dealers' Digestidd7/21/2008 9:54:20 PMEditorial Staffidd20080721idd_00012NewsSourceMediahttp://www.alacrastore.com/storecontent/tfmedia/20080721idd_00013tfmedia/20080721idd_00013norm Bank of America heeded investor demand by hiring nine additional analysts for its equity research division, the firm's head of equity research, Michael Rietbrock, told IDD.The nine analysts are based in New York and join from a variety...Investment Dealers' Digestidd7/21/2008 9:54:20 PMEditorial Staffidd20080721idd_00013NewsSourceMediahttp://www.alacrastore.com/storecontent/tfmedia/20080721idd_00014tfmedia/20080721idd_00014norm Here's what passes for progress these days: JPMorgan posted a ##% drop in its second-quarter earnings last Thursday, and the stock surged.The financial giant and proud new owner of Bear Stearns earned ## cents a share in the quarter...Investment Dealers' Digestidd7/21/2008 9:54:20 PMEditorial Staffidd20080721idd_00014NewsSourceMediahttp://www.alacrastore.com/storecontent/tfmedia/20080721imw_00001tfmedia/20080721imw_00001norm Against the trend of recent losses in the financial world, BlackRock reported a ##% increase for the second quarter of #### compared to the same time last year.The firm's reported net income for the quarter was $### million as compared...Investment Management Weeklyimw7/21/2008 9:54:20 PMEditorial Staffimw20080721imw_00001NewsSourceMediahttp://www.alacrastore.com/storecontent/tfmedia/20080721imw_00002tfmedia/20080721imw_00002norm The $### million City of Knoxville Pension Board recently received education on the portable alpha and private equity asset classes and is likely to make an investment in both over the next few months, said Mike Cherry, executive director...Investment Management Weeklyimw7/21/2008 9:54:20 PMJakema Lewisimw20080721imw_00002NewsSourceMediahttp://www.alacrastore.com/storecontent/tfmedia/20080721imw_00003tfmedia/20080721imw_00003norm The Chatham County Employee Retirement Plan (CCERP) is seeking an investment consultant to assist the fund with its roughly $### million in assets.Further details were unclear, as calls to Kathleen Watson-Scott, procurement specialist...Investment Management Weeklyimw7/21/2008 9:54:20 PMMarc Sorondoimw20080721imw_00003NewsSourceMediahttp://www.alacrastore.com/storecontent/tfmedia/20080721imw_00004tfmedia/20080721imw_00004norm With oil prices at record levels, the U.S. sliding into recession, banks failing and equity markets plunging as much as ##% from their last highs, it's a tough time for a fund manager to keep investors happy.Robert Schoen, Putnam Investments...Investment Management Weeklyimw7/21/2008 9:54:20 PMDave Lindorffimw20080721imw_00004NewsSourceMediahttp://www.alacrastore.com/storecontent/tfmedia/20080721imw_00005tfmedia/20080721imw_00005norm The Washington State Investment Board (WSIB) has issued an RFQQ as it seeks to refresh the $## billion plan's pool of investment consultants.The WSIB is looking for firms who provide general investment consulting services and specialty...Investment Management Weeklyimw7/21/2008 9:54:20 PMMarc Sorondoimw20080721imw_00005NewsSourceMediahttp://www.alacrastore.com/storecontent/tfmedia/20080721imw_00006tfmedia/20080721imw_00006norm The Chicago Teachers Pension Fund (CTPF) interviewed four potential hedge fund-of-funds managers at a special board meeting last week, according to the agenda posted on the plan's site.The board were scheduled to interview Dorchester...Investment Management Weeklyimw7/21/2008 9:54:20 PMMarc Sorondoimw20080721imw_00006NewsSourceMediahttp://www.alacrastore.com/storecontent/tfmedia/20080721imw_00007tfmedia/20080721imw_00007norm The San Bernardino County Employees' Retirement Association (SBCERA) made two more hires in its ongoing search for credit managers, said Don Pierce, investment officer with the $# billion plan.Pierce said that the board approved allocations...Investment Management Weeklyimw7/21/2008 9:54:20 PMMarc Sorondoimw20080721imw_00007NewsSourceMediahttp://www.alacrastore.com/storecontent/tfmedia/20080721imw_00008tfmedia/20080721imw_00008norm * San Francisco-based Progress Investment Management Company has announced that it completed a buyout in June of the ##% equity interest that the Massachusetts Bay Transportation Authority Retirement Fund (MBTARF) held in the firm,...Investment Management Weeklyimw7/21/2008 9:54:20 PMEditorial Staffimw20080721imw_00008NewsSourceMediahttp://www.alacrastore.com/storecontent/tfmedia/20080721imw_00009tfmedia/20080721imw_00009norm Distressed debt funds and infrastructure funds piqued the interest of institutional investors in the second quarter, snaring capital that historically flowed towards traditional private equity funds, according to the latest data from...Investment Management Weeklyimw7/21/2008 9:54:20 PMKelly Holmanimw20080721imw_00009NewsSourceMediahttp://www.alacrastore.com/storecontent/tfmedia/20080721imw_00010tfmedia/20080721imw_00010norm There is a perfect storm of factors in the world of investing today that especially effects smaller plan sponsors: confusing new pension reform rules, unfamiliar new asset classes and asset class structures and lack of resources. John...Investment Management Weeklyimw7/21/2008 9:54:20 PMMarc Sorondoimw20080721imw_00010NewsSourceMediahttp://www.alacrastore.com/storecontent/tfmedia/20080721mar_00001tfmedia/20080721mar_00001norm Landmark Communications entered into an agreement to sell one of its two television affiliates, the media company last week. Landmark will sell, for terms that were not immediately disclosed, its Nashville, Tennessee, CBS affiliate...Mergers and Acquisitions Reportmar7/21/2008 9:54:20 PMJonathan Marinomar20080721mar_00001NewsSourceMediahttp://www.alacrastore.com/storecontent/tfmedia/20080721mar_00002tfmedia/20080721mar_00002norm Erin Callan, who was recently ousted from her position as Lehman Brothers' chief financial officer, will begin a new role as head of Credit Suisse's global hedge fund business on Sept. #.Callan will also join Credit Suisse's investment...Mergers and Acquisitions Reportmar7/21/2008 9:54:20 PMJoshua Hamermanmar20080721mar_00002NewsSourceMediahttp://www.alacrastore.com/storecontent/tfmedia/20080721mar_00003tfmedia/20080721mar_00003norm Oak Hill Capital Partners' Local TV LLC got a big boost when the television affiliate holding company got a new infusion of properties from Rupert Murdoch's castaways list.Last year, Murdoch said during a conference that he was looking...Mergers and Acquisitions Reportmar7/21/2008 9:54:20 PMJonathan Marinomar20080721mar_00003NewsSourceMediahttp://www.alacrastore.com/storecontent/tfmedia/20080721mar_00004tfmedia/20080721mar_00004norm Pierre Foods, a portfolio holding of Chicago private equity firm Madison Dearborn Partners, said it has filed for bankruptcy protection.The Chapter ## filing in Delaware by the privately held Cincinnati-based prepared meats producer...Mergers and Acquisitions Reportmar7/21/2008 9:54:20 PMKelly Holmanmar20080721mar_00004NewsSourceMediahttp://www.alacrastore.com/storecontent/tfmedia/20080721mar_00005tfmedia/20080721mar_00005norm CIT Group veteran Randal Stephenson has joined Pali Capital as a senior managing director and head of its new corporate advisory group. Based out of New York, Stephenson will oversee the launch of Pali's M&A and corporate advisory practice.According...Mergers and Acquisitions Reportmar7/21/2008 9:54:20 PMEditorial Staffmar20080721mar_00005NewsSourceMediahttp://www.alacrastore.com/storecontent/tfmedia/20080721mar_00006tfmedia/20080721mar_00006norm Delta Air Lines' quarterly earnings announcement contained a glimmer of hope for the airlines sector, as the carrier revealed a significant bump to its forecasted synergies expected to come out of its planned merger with Northwest Airlines.When...Mergers and Acquisitions Reportmar7/21/2008 9:54:20 PMKen MacFadyenmar20080721mar_00006NewsSourceMediahttp://www.alacrastore.com/storecontent/tfmedia/20080721mme_00001tfmedia/20080721mme_00001norm Federal regulators are cracking down on the potential spread of false and misleading rumors that could potentially affect market conditions.While rumor mongering is not a widespread problem in the financial industry, a few high-profile...Money Management Executivemme7/21/2008 9:54:20 PMJohn Morganmme20080721mme_00001NewsSourceMediahttp://www.alacrastore.com/storecontent/tfmedia/20080721mme_00002tfmedia/20080721mme_00002norm Don't just retire. "Reengage, reinvigorate, redefine, rejuvenate."That's the inspirational message at MyRetirementShop.com, a new, all-in-one website for the "at retirement" generation that AXA Equitable Life Insurance launched last...Money Management Executivemme7/21/2008 9:54:20 PMAlexander Spanosmme20080721mme_00002NewsSourceMediahttp://www.alacrastore.com/storecontent/tfmedia/20080721mme_00003tfmedia/20080721mme_00003norm The Depository Trust & Clearing Corp. (DTCC) and the Society for Worldwide Interbank Financial Telecommunication (Swift) are working together to introduce ## interoperable XML-based message formats to the alternative investment community.The...Money Management Executivemme7/21/2008 9:54:20 PMChris KentourisSecurities Industry Newsmme20080721mme_00003NewsSourceMediahttp://www.alacrastore.com/storecontent/tfmedia/20080721mme_00004tfmedia/20080721mme_00004norm Bad news for the mutual fund industry. The volatile market has stymied the "long haul" game; an increasing number of financial advisers are moving larger portions of their clients' assets into cash positions."When you see the market...Money Management Executivemme7/21/2008 9:54:20 PMColleen O'Connor-GrantFinancial Planningmme20080721mme_00004NewsSourceMediahttp://www.alacrastore.com/storecontent/tfmedia/20080721mme_00005tfmedia/20080721mme_00005norm The European Union proposed a new set of rules Thursday to make Undertakings for Collective Investment in Transferable Securities (UCITS) even more efficient by eliminating additional regulatory hurdles. Most notably, the rules- which...Money Management Executivemme7/21/2008 9:54:20 PMLee Barneymme20080721mme_00005NewsSourceMediahttp://www.alacrastore.com/storecontent/tfmedia/20080721mme_00006tfmedia/20080721mme_00006norm Callan Joins Credit Suisse As Head of Hedge FundsErin Callan, who was recently ousted from her position as Lehman Brothers chief financial officer, will begin a new role as head of Credit Suisse's global hedge fund business on Sept....Money Management Executivemme7/21/2008 9:54:20 PMEditorial Staffmme20080721mme_00006NewsSourceMediahttp://www.alacrastore.com/storecontent/tfmedia/20080721mme_00007tfmedia/20080721mme_00007norm The small group of money mangers who possess the ability to outperform the market has virtually disappeared, according to a new study, "False Discoveries in Mutual Fund Performance: Measuring Luck in Estimating Alphas," in which the...Money Management Executivemme7/21/2008 9:54:20 PMBrooke Perronemme20080721mme_00007NewsSourceMediahttp://www.alacrastore.com/storecontent/tfmedia/20080721mme_00008tfmedia/20080721mme_00008norm The growing popularity of fee-based advice is prompting mutual fund companies and other investment platform providers to upgrade the capabilities they offer advisers. Fidelity Investments is rolling out a product that allows registered...Money Management Executivemme7/21/2008 9:54:20 PMSteve GarmhausenAmerican Bankermme20080721mme_00008NewsSourceMediahttp://www.alacrastore.com/storecontent/tfmedia/20080721mme_00009tfmedia/20080721mme_00009norm Ameriprise Financial finalized a $### million deal to purchase J&W Seligman in the fourth quarter. The addition of Seligman will provide Ameriprise with additional outlets to sell its mutual funds and further improve its hedge fund...Money Management Executivemme7/21/2008 9:54:20 PMEditorial Staffmme20080721mme_00009NewsSourceMediahttp://www.alacrastore.com/storecontent/tfmedia/20080721mme_00010tfmedia/20080721mme_00010norm State Street Corp. believes market conditions will make it difficult for his Boston company to maintain its strong second-quarter growth, but he hopes to weather the second half by focusing on core businesses, cutting expenses and attracting...Money Management Executivemme7/21/2008 9:54:20 PMMatt AckermannAmerican Bankermme20080721mme_00010NewsSourceMediahttp://www.alacrastore.com/storecontent/tfmedia/20080721mme_00011tfmedia/20080721mme_00011norm President and CEO of Federated Investors, J. Christopher Donahue, recently announced Federated's acquisition of the Prudent Bear and Prudent Global Income Funds from David W. Tice & Associates at an initial price of $## million with...Money Management Executivemme7/21/2008 9:54:20 PMEditorial Staffmme20080721mme_00011NewsSourceMediahttp://www.alacrastore.com/storecontent/tfmedia/20080721N721_00001tfmedia/20080721N721_00001norm On June ##, ####, the Connecticut Banking Commissioner entered a Consent Order with respect to Michael M. Reilly, a former broker-dealer agent of New Castle Financial Services LLC.  The Consent Order alleged that, on May ##, ####, Michael...ComplyNetN7/21/2008 9:54:20 PMNational Regulatory ServicesN20080721N721_00001NewsSourceMediahttp://www.alacrastore.com/storecontent/tfmedia/20080721ppl_00001tfmedia/20080721ppl_00001norm Nomura Securities International has named Surat Maheshwari head of private placement and US debt capital markets.In his new role, the managing director will be responsible for originating, structuring and distributing private debt to...Private Placement Letterppl7/21/2008 9:54:20 PMTom Granahanppl20080721ppl_00001NewsSourceMediahttp://www.alacrastore.com/storecontent/tfmedia/20080721ppl_00002tfmedia/20080721ppl_00002norm Equitable Group Inc. has completed its $##.# million (C$##.# million) capital raising effort from both a private placement and secondary stock offering.A Toronto mortgage financing company, Equitable said it sold #.# million common...Private Placement Letterppl7/21/2008 9:54:20 PMKelly Holmanppl20080721ppl_00002NewsSourceMediahttp://www.alacrastore.com/storecontent/tfmedia/20080721ppl_00003tfmedia/20080721ppl_00003norm Penn West Energy Trust said it expects to raise $###.# million from a privately placed debt offering.Its debt security offering, slated to close by July ##, was comprised of #.##% unsecured notes due to mature in ####. The Calgary,...Private Placement Letterppl7/21/2008 9:54:20 PMKelly Holmanppl20080721ppl_00003NewsSourceMediahttp://www.alacrastore.com/storecontent/tfmedia/20080721ppl_00004tfmedia/20080721ppl_00004norm Kola Mining completed a $## million private placement of ##.# million units at ## cents each.The Vancouver-based mineral exploration company said each unit consisted of one share and half a warrant, exercisable to buy a share for ##...Private Placement Letterppl7/21/2008 9:54:20 PMTom Granahanppl20080721ppl_00004NewsSourceMediahttp://www.alacrastore.com/storecontent/tfmedia/20080721ppl_00005tfmedia/20080721ppl_00005norm Two things happened last week that should have boosted leveraged loan primary issuance-or at the very least been a catalyst for change. One was the launch of a $# billion structured investment vehicle, a deal led by Goldman Sachs. The...Private Placement Letterppl7/21/2008 9:54:20 PMRichard Kellerhalsppl20080721ppl_00005NewsSourceMediahttp://www.alacrastore.com/storecontent/tfmedia/20080721S721_00001tfmedia/20080721S721_00001norm Congress is poised to grant Fannie Mae and Freddie Mac greater financial ties to the U.S. Treasury in an effort to bolster confidence in the two mortgage giants and ensure they can continue their mission of providing liquidity for the...National Mortgage NewsS7/21/2008 9:54:20 PMBy Brian CollinsS20080721S721_00001NewsSourceMediahttp://www.alacrastore.com/storecontent/tfmedia/20080721S721_00002tfmedia/20080721S721_00002norm The recent actions of the federal government in assuring liquidity and capital for Fannie Mae and Freddie Mac are totally extraordinary. Nothing quite as remarkable as this has happened in the third of a century this newspaper has been...National Mortgage NewsS7/21/2008 9:54:20 PMBy Mark FogartyS20080721S721_00002NewsSourceMediahttp://www.alacrastore.com/storecontent/tfmedia/20080721S721_00003tfmedia/20080721S721_00003norm Among the things placed in limbo by the failure and government takeover of IndyMac Bank FSB here is the reverse mortgage business the parent company was planning to build its future around and the sale of the retail mortgage origination...National Mortgage NewsS7/21/2008 9:54:20 PMBy Brad FinkelsteinS20080721S721_00003NewsSourceMediahttp://www.alacrastore.com/storecontent/tfmedia/20080721S721_00004tfmedia/20080721S721_00004norm What had been months of nerve-rattling deterioration in their equity values turned into something that probably felt more like a landslide for Fannie Mae and Freddie Mac shareholders during the last ## days. In topsy-turvy trading,...National Mortgage NewsS7/21/2008 9:54:20 PMBy Ted CornwellS20080721S721_00004NewsSourceMedia