Cfc
- Thread starter Mvic
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Quote from blast19:
Thank you! I was trying to think of George Hamilton's name the other day and it was driving me mad...but I am one of those people who refuse to look things up. Someone offered up a brilliant new nickname for him:
Bronzillo
Close call!
Check this out:
Goldman Sachs Is New Century's Largest Creditor, Times Reports
By Colin Keatinge
April 4 (Bloomberg) -- Goldman Sachs Mortgage Company, a division of Goldman Sachs Group Inc., is New Century Financial Corp.'s single largest creditor, the London-based Times said,
citing the subprime mortgage lender's Chapter 11 filing.
The list of New Century's top 50 creditors does not include
the amounts that they are owed, the Times said. Among financial institutions listed in the top 10 include Credit Suisse Group, Morgan Stanley, Deutsche Bank AG, Bank of
America Corp., UBS AG and Lehman Brothers Holdings Inc., the
newspaper said.
Countrywide Financial Corp., itself a subprime lender, is placed at number 10 on the list, fuelling fears for the health of the entire U.S. subprime market, the Times said. Barclays Plc, which is at number 15 on the list, is owed about $1 billion, the Times said, without saying where it got the information.
One can only guess CFC is owed an amount larger than $1 billion that will likely be defaulted on.
Goldman Sachs Is New Century's Largest Creditor, Times Reports
By Colin Keatinge
April 4 (Bloomberg) -- Goldman Sachs Mortgage Company, a division of Goldman Sachs Group Inc., is New Century Financial Corp.'s single largest creditor, the London-based Times said,
citing the subprime mortgage lender's Chapter 11 filing.
The list of New Century's top 50 creditors does not include
the amounts that they are owed, the Times said. Among financial institutions listed in the top 10 include Credit Suisse Group, Morgan Stanley, Deutsche Bank AG, Bank of
America Corp., UBS AG and Lehman Brothers Holdings Inc., the
newspaper said.
Countrywide Financial Corp., itself a subprime lender, is placed at number 10 on the list, fuelling fears for the health of the entire U.S. subprime market, the Times said. Barclays Plc, which is at number 15 on the list, is owed about $1 billion, the Times said, without saying where it got the information.
One can only guess CFC is owed an amount larger than $1 billion that will likely be defaulted on.
Surprise surprise...do these guys ever fucking stop?:
Countrywide Financial Corp. (CFC) Chairman and Chief Executive Angelo R. Mozilo got restricted stock valued around $5 million, according to a regulatory filing Wednesday. Mozilo also received a stock-appreciation right to acquire 566,894 company shares, according to a filing with the Securities and Exchange Commission. A stock-appreciation right allows the executive to receive an amount of money corresponding to the rise of the company's stock price above a specific number. Unlike a stock option, the recipient typically doesn't have to pay any money to benefit from the award. Mozilo's 152,766 restricted stock units, which were granted Monday, will vest in three installments at the end of 2007, 2008 and 2009. Based on Monday's closing share price of $32.73, the award would be worth about $5 million. Mozilo's right carries a $32.73 exercise price and will vest in three installments, according to the filing. President and Chief Operating Officer David Sambol received restricted stock valued at $4.5 million and a stock-appreciation right on 510,205 shares, according to a separate SEC filing Wednesday. Shares of the Calabasas, Calif., mortgage lender recently traded at $33.35, down 18 cents. -Nicolas Brulliard; Dow Jones Newswires; 202-862-1351; nicolas.brulliard@dowjones.com (END) Dow Jones NewswiresApril 04, 2007 13:30 ET (17:30 GMT)
Countrywide Financial Corp. (CFC) Chairman and Chief Executive Angelo R. Mozilo got restricted stock valued around $5 million, according to a regulatory filing Wednesday. Mozilo also received a stock-appreciation right to acquire 566,894 company shares, according to a filing with the Securities and Exchange Commission. A stock-appreciation right allows the executive to receive an amount of money corresponding to the rise of the company's stock price above a specific number. Unlike a stock option, the recipient typically doesn't have to pay any money to benefit from the award. Mozilo's 152,766 restricted stock units, which were granted Monday, will vest in three installments at the end of 2007, 2008 and 2009. Based on Monday's closing share price of $32.73, the award would be worth about $5 million. Mozilo's right carries a $32.73 exercise price and will vest in three installments, according to the filing. President and Chief Operating Officer David Sambol received restricted stock valued at $4.5 million and a stock-appreciation right on 510,205 shares, according to a separate SEC filing Wednesday. Shares of the Calabasas, Calif., mortgage lender recently traded at $33.35, down 18 cents. -Nicolas Brulliard; Dow Jones Newswires; 202-862-1351; nicolas.brulliard@dowjones.com (END) Dow Jones NewswiresApril 04, 2007 13:30 ET (17:30 GMT)
Bronzillo's entire "look" just scares the crap out of me.
The guy looks like he is on Human Growth Hormone, and has had all sorts of work done on himself.
Geez, is it just me, or does the guy just wreek of BS?
The guy looks like he is on Human Growth Hormone, and has had all sorts of work done on himself.
Geez, is it just me, or does the guy just wreek of BS?
While I'm short CFC, and have been since May 2006, I think they're going to be a really good buy at some point. Once all the bad news and writedowns and earnings adjustments play out, I'm looking for a price in the low 20s.
I don't think CFC is going bankrupt. In a year or two, with almost all their serious competitors out of the picture, they are going to own the specialist mortgage lending market. Stricter lending standards may mean that market is half the size, but they'll have a much greater market share with so many competitors out of the picture.
As I see it, the only way CFC can lose in the long run is if things get so bad that specialist mortgage lending outfits cease to exist as a category, either through political / regulatory changes or a total loss of public confidence in the mortgage lending industry. In that sort of scenario all mortgage lending would once again be done by integrated retail banks.
Martin
I don't think CFC is going bankrupt. In a year or two, with almost all their serious competitors out of the picture, they are going to own the specialist mortgage lending market. Stricter lending standards may mean that market is half the size, but they'll have a much greater market share with so many competitors out of the picture.
As I see it, the only way CFC can lose in the long run is if things get so bad that specialist mortgage lending outfits cease to exist as a category, either through political / regulatory changes or a total loss of public confidence in the mortgage lending industry. In that sort of scenario all mortgage lending would once again be done by integrated retail banks.
Martin