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Archive: September, 2008
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Advanta falls as Moody's weighs downgrade
Mon, Sep 22, 2008, 1:35 PM
Advanta Corp. dropped more than 10 percent in midday trading after Moody's Investors Service said it might downgrade the Spring House-based...
AIG's CEO turns down $22 million severance: report
Mon, Sep 22, 2008, 12:43 PM
American International Group CEO Robert Willumstad has turned down $22 million in severance after his three-month tenure at the largest...
Sovereign squeezed by CDO, Fannie losses
Mon, Sep 22, 2008, 11:18 AM
Sovereign Bancorp is "on the brink" of needing more capital after announcing late Friday it sold off its collateralized-debt...
Update: Nobel weighs Milken's $17/share offer
Mon, Sep 22, 2008, 11:05 AM
UPDATE: Nobel Learning Communities's board will weigh Knowledge Learning Corp.'s $17 per share offer "carefully and promptly"...
'Vicious cycle' will last for years: analysts
Mon, Sep 22, 2008, 9:32 AM
"It will take years to resolve the problems that have surfaced in the past months," writes veteran bank analyst Richard X. Bove...
Wachovia merger talks 'on hold'
Mon, Sep 22, 2008, 9:17 AM
Merger talks between Morgan Stanley and Wachovia Corp. have been put on "indefinite hold", London's Financial Times reports,...
Zipcar goes to college; PhillyCarShare bosses out
Fri, Sep 19, 2008, 2:57 PM
The battle's on between hometown nonprofit PhillyCarShare and investor-backed national chain Zipcar. Executive director Tanya Streeter...
SEC shuts shorts to "prop up" bank stocks
Fri, Sep 19, 2008, 2:43 PM
Securities and Exchange Commission Chairman Christopher Cox, who earlier this summer called most short sellers "healthy and necessary...
Joseph N. DiStefano writes about Philadelphia-area enterprise, and the people and money that make it go.