Come this Monday, September 24, managed health care plan provider UnitedHealth Group will become one of the 30 companies that are used to calculate the Dow Jones Industrial Average. The […]
Brinker International, known best as the operator and franchisor of Chili’s restaurants, has announced that its CFO has resigned. He’s Guy Constant, who also held the titles of EVP and president of global business development. A top Brinker officer for 3½ years and with the company for nine, Constant is replaced temporarily by treasurer Marie Perry. At the time of the announcement, Kelli Valade was also given the post of COO at Chili’s.
March 3, 2014
In an update last week, D&B editor Alex Biesada continued to document the slow, sad decline of Sears Holdings’ Sears, Roebuck and Co., the venerable retailer that has been struggling in recent years as it loses market share to Home Depot, Wal-Mart, Best Buy, and others. Biesada noted that in 2013 the iconic company shuttered stores and reported a decline in overall revenue, a drop in same-store sales, and an operating loss of more than $600 million. Follow Alex on Twitter at @ABiesada.
March 3, 2014
Wells Fargo, the largest mortgage lender in the US, is once again turning to subprime loans in order to boost revenues as mortgage lending volume has declined, according to Reuters. Most banks have refused to give loans to borrowers with less-than-pristine credit following the mortgage bust and financial collapse of the late 2000s. New lending regulations and the fear that another round of bad loans could trigger another crisis have kept many lenders away from the niche. But reduced demand for refinancing could put pressure on lenders to ease standards. Meanwhile, smaller nonbank lenders have already returned to offering subprime loans, this time with nicer-sounding names such as “another chance mortgages.”
For more industry trends, visit our Mortgage Banking report.
Copyright © 2013 All Rights Reserved