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Another stormy summer day in Washington, another high-profile lawsuit from the Securities and Exchange Commission — this one against Citigroup and former senior executives of the company. Once again, it’s about disclosure, and the agency’s press release puts it succinctly: “Citigroup repeatedly made misleading statements in earnings calls and public filings about the extent of [...]
It’s no secret that housing prices in places like Riverside County, Ca. have fallen sharply, in part due to a wave of foreclosures that at least according to this article has one out of every eight homeowners facing foreclosure. Indeed, the county is working hard to avoid more foreclosures. Still, the 8K that Circor (CIR) [...]
I’ve been down in Bradenton, Florida the past few days where I started my career as a journalist. After spending the weekend walking door to door to get out the vote for Barack Obama, I’m now turning my attention to reporting and plan to attend the daily 11 a.m. foreclosure sale run by the Manatee [...]
Yesterday was the credit rating agencies. Today’s turn before the Committee on Oversight is the troika of Former Fed Chairman Alan Greenspan, former Treasury Secretary John Snow, and current SEC chairman Chris Cox. The opening statements, including a substantially shorter one by Cox than the one sent out to reporters only an hour earlier. Cox’s [...]
It’s no secret that San Diego is awash in foreclosures. Indeed, Realty Trac lists 18,885 bank-owned homes in the county and another 12,041 in pre-foreclosure. Given that kind of distressed supply, prices have fallen dramatically — about 30 percent, according to this report. So perhaps it’s not all that surprising that when Sunpower (SPWRA) announced [...]
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