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Orlando Health issues $184.8 million in bonds
by Abraham Aboraya
23 May 2012 at 1:12pm
Orlando Health issued two bonds totaling $184.8 million in new bond debt May 23 to pay off an older construction loan and finance the construction of the new patient tower. In total, $155.5 million will go to a project fund to help pay for the $297 million patient tower and renovation project at Orlando Regional Medical Center. . The remaining $33,276,112 will repay the construction loan used to build the Orlando Health Heart Institute. The hospital will pay $1.9 million to issue both of the bonds....
Mad about Facebook? The real story is the correction
by Collin Eaton
23 May 2012 at 1:06pm
While Wall Street and the financial press continue to stew about Facebook Inc.?s (Nasdaq: FB) initial public offering, one Houston financial adviser believes investors should look at the real story. ?Are we in the midst of a correction?? said Jim Sloan, president of Houston-based financial advisory firm Jim Sloan & Associates. That?s probably a good question, considering the stock market has been in the red for about two weeks, the Nasdaq has fallen 11 percent since its peak in March, and...
Analyst cuts target for Fifth Third stock
by Steve Watkins
23 May 2012 at 1:01pm
An analyst at Guggenheim Securities dropped his target for Fifth Third Bancorp?s stock price from $17 to $15. Marty Mosby cut his target early this week, just after he had lifted his 2012 earnings estimate for the downtown-based bank by 10 percent. Mosby expects Fifth Third to earn $1.60 per share this year, up from his previous expectation of $1.46. But Mosby noted in a report that investors are hesitant to put big bets on the banking sector. And he expects banks to soon be required to hold...
Feds crafting new regulations on prepaid card industry
by James Aldridge
23 May 2012 at 12:57pm
The Consumer Financial Protection Bureau is working to develop the first-ever federal standards for re-loadable prepaid cards, the Wall Street Journal reported Wednesday. Prepaid cardholders already face a host of different fees when they check balances, get statements or speak to a service representative. Some companies charge as much as $14.95 to activate the card. Others charge as much as $9.95 a month to use the card and $2 each time customers get cash from an ATM. Prepaid cards function similarly...
New York state pension fund posts strong gain
23 May 2012 at 12:56pm
The New York State Common Retirement Fund earned an estimated 5.96 percent rate of return for the state's 2011-12 fiscal year, New York State Comptroller Thomas P. DiNapoli announced Wednesday. The estimated value of the fund is $150.3 billion, the highest since state fiscal year 2008-2009. "Over the last three years, the Fund has experienced strong gains during a period of economic instability. We remain one of strongest pension funds in the country, providing retirement security to more than...
St. Charles Capital launches IST group
by Heather Draper
23 May 2012 at 12:47pm
Denver-based St. Charles Capital LLC, a middle-market investment bank, on Wednesday announced a new group serving growth companies in Industrial and Service Technologies (IST). St. Charles is ?executing on a growth strategy that includes increased specialization in areas where its investment bankers have deep expertise,? the company said in a press release. ?IST builds upon the strong reputation that St. Charles has earned serving many of the same types of companies in our Diversified Industries...
Florida regulators ask for cease and desist order against Freedom Bank of Ame...
by Margie Manning
23 May 2012 at 12:46pm
The Florida Office of Financial Regulation has asked an administrative law judge to hand down an order barring Freedom Bank of America from engaging in unsafe and unsound practices. State regulators also asked the judge to order the bank to take steps to get back in compliance with laws and regulations. The state agency filed a complaint against the bank with the Division of Administrative Hearings on May 18. In the complaint, the state said Freedom Bank breached a written agreement to improve...
Ex-Bank of America exec Sallie Krawcheck shares advice for banks
by Adam O'Daniel
23 May 2012 at 12:33pm
Ex-Bank of America exec Sallie Krawcheck has some advice for her old bosses: Pay executives with bonds, not just cash and stock. Krawcheck in a Harvard Business Review op-ed suggests four ways that the banking industry can improve. Most of them center on better governance. The first idea, pay in bonds, Krawcheck says is designed to balance the risk-taking appetite with shareholder returns over the long-term. She says execs paid with lots of stock may still be more prone to excessive risk. Paying...
100 properties being sold in online auction
by Emily Freeman
23 May 2012 at 12:26pm
You might need more than a PayPal account to participate in this online sale: The Iron Horse Auction Company of Rockingham is selling 100 properties in North Carolina and Virginia in an online auction. The properties, which are currently owned by BB&T Corporation (Nasdaq: BBT), include residential lots in Durham, Pinehurst, New Bern and Holden Beach. Lots in Perquimans and Onslow counties also are available. The lots vary in price according to location. A tax appraisal of all properties has them...
Rentrak, MasterCard team on consumer data collection
by Suzanne Stevens
23 May 2012 at 12:25pm
Rentrak and Master Card will share consumer television viewing and spending data through a recently launched partnership. Under the agreement, MasterCard Advisors, a unit of MasterCard Worldwide (NYSE: MA), will provide Portland-based Rentrak with anonymous, aggregated insights on consumer spending behavior and trends in retail, telecommunications, grocery, entertainment, travel, family and other categories. While Rentrak will share the television viewing data it collects from millions of U.S. homes...
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