Lender seeks Chapter 11 amid mortgage lender collapses
American Home Mortgage Investment Corp filed for Chapter 11 in Wilmington, joining Houston based Aegis Mortgage and Cleveland based National City Corp in halting new loan applications as the housing crunch widens. The move follows falling home prices and rising defaults that spooked investors and tightened funding. American Home secured up to 50 million in debtor in possession financing from WL Ross & Co. and is among more than 50 lenders to seek bankruptcy this year.
MENTIONED IN THIS ARTICLE
Cleveland
New York
American Home Mortgage Investment Corp
American Home Mortgage
Melville
N.Y
Aegis Mortgage Corp
National City Corp
JMP Securities
Steven C. DeLaney
Lfeline
Wilmington
Del
Wall Street
American Home
WL Ross & Co. LLC
Wilbur L. Ross Jr
Ganesh Rathnam
Morningstar
New Century Financial Corp
Cooper Tire posts 2Q profit on cost cuts and price gains
Cooper Tire and Rubber Co reported a second quarter profit of 18 million dollars, 28 cents per share, reversing a year-earlier loss as cost reductions, higher North American prices, and rising overseas sales boosted results. Sales reached 750.6 million, up from 624.8 million, with Thomson Financial analysts at 20 cents a share.
MENTIONED IN THIS ARTICLE
Findlay
Cooper Tire & Rubber Co
North America
Cooper
Thomas Dattilo
Thomson Financial
Chrysler names new CEO in major restructuring
Chrysler LLC appoints Bob Nardelli, former Home Depot chief, as chairman and CEO replacing Tom LaSorda as Cerberus Capital Management takes a majority stake. The plan includes cutting 13,000 jobs by 2009 and faces UAW talks with an outsider leading the turnaround amid Detroit’s outsourcing trend.
MENTIONED IN THIS ARTICLE
Auburn Hills
Mich
Chrysler
Home Depot
Bob Nardelli
Home Depot Inc
Chrysler LLC
Tom LaSorda
Cerberus Capital Management LP
Nardelli
LaSorda
Detroit
Ford Motor Co
Boeing Co
Alan Mulally
Aaron Bragman
Global Insight
Bragman
U.S
Canada
United Auto Workers
Pete Hastings
Morgan Keegan & Co
UAW
Hastings
Google faces regulation over proposed bid to buy DoubleClick
Regulators in the United States and Europe review Google’s 3.1 billion dollar acquisition of DoubleClick amid concerns the deal could consolidate control of the 21.7 billion dollar online advertising market. FTC and lawmakers weigh conditions, including privacy safeguards, to curb Google dominance and access to user data.
MENTIONED IN THIS ARTICLE
Google
Washington
Google Inc
DoubleClick Inc
Jeffrey Chester
The
Center For Digital Democracy
Microsoft Corp
DoubleClick
Federal Trade Commission
European Commission
Senate
House
Levin
FTC
Tomers
Mountain View
Calif
Etter
Also Mentioned on This Page
Cooper Tire
Delphi
Delphi Corp
United Steelworkers
International Union of Electronic Workers
Communications Workers of America
Communications Workers’ Industrial Branch
International Association of Machinists
International Brotherhood of Electrical Workers
International Union of Operating Engineers
Lindsey Williams
Dow Jones Industrials
Dow Industrials Og
Transportation
Dow Litlites
S&p
Russell
Wilshire
Nyse Amex NaspAg
NoWasCo Wit
Advantix
Frank Gred
Fedtratc
Pest Nig Ag
Addynigy
Santarus
Griffon
StarMar
Maldiiow
Harmon
Hisheart
Beo
Fostunel
Levit
Crnsttelr
LaakSmart
Valassis
Versar
EmmisCs
Impactic
Frank O ‘Nes
RadioOne
Acain
Jamapidiy
iPhonic
Vol Citign
SPDR
PwShs Ooo
Ee Genklec
Ishr2k
Microsoft
Fordm Bois
chanCm
Motorola
Yahoo
Diany Dian
Lehman8r
Levald Nash
Howe Nad
United NY
Jaboes
Bears
Motorola i
NiSouteo
Naidson Nsd
ChiryTal NY
Creek Nasd
PNG NY
Park
ProaGam WY
Diebok
Maankla
Sherwin
winThird
Smucker
Firste NY
Symantec
WAL
Hanwlind
TmeWwam NY
US Steel
Inte
Ishrek Nya
Amex
WalMart
NY Ie
March
WallsFga
Sweet Crude
Air HS
Oe Mercantile Exchange
CBOT
Mide
CME
Nybt Wih
York Board of Ne Me Mercantile
Ale
Init
Growameta Mig
Ems
Lamerican
Wamuiinva Mly
Incamera
EurPacGré
Vanguard
NewPerson
American Fur
ODA
Frank Tome
Peresettbor
Bodman
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