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Legg bails out 2 money funds
Legg Mason Inc. reported yesterday that it would take a $90 million charge in the fiscal third quarter - and a 15-cent hit to its earnings per share - as the company undertook the biggest bailout by a money manager related to debt sold by structured investment vehicles (SIVs). The Baltimore money manager pumped $1.1 billion into two foreign money market funds to prevent losses. The move follows an earlier cash infusion of $100 million and an arrangement for letters of credit to back up money funds offered by the company.
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The men who shaped the life, times of Enid
There are a lot of stories told from time to time about the late H.H. Champlin, but the late H.B. "Heinie" Bass was the only one who wrote some of them down.Bass had a longtime relationship with Champlin. He built several buildings for the banker and oilman, including the Champlin mansion on South Tyler, and Champlin provided the financing for a number of D.C. Bass & Sons Construction company projects.But Champlin not only helped Bass but a number of other people, some of whom had crossed the line between honesty and dishonesty, at least temporarily, back during the gray, cold days of the Great Depression.In his book, "Building For A Rugged Individualist" (Champlin being the rugged individualist), Bass remembers several incidents.In his book, Bass tells of hiring a young man to collect past-due bills for construction work. More>>
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Countrywide Home Loans Partners with RealEC Technologies to Deliver ...
SANTA ANA, Calif., Oct. 10 /PRNewswire-FirstCall/ -- RealEC Technologies Inc., the leading provider of collaborative network solutions to the mortgage industry, today announced it has entered into an agreement with Countrywide Home Loans, Inc., a division of Countrywide Financial Corporation, allowing Countrywide to use RealEC's Web-based closing platform for mortgage refinance and home equity lending transactions. Through the new agreement, Countrywide has licensed RealEC's Web-enabled closing service and has integrated the service into its TS2 settlement services platform, which was built using the RealEC Collaborative Network Platform.
"RealEC is extremely excited, once again, to partner with Countrywide Home Loans to bring another innovative new industry utility to market," said Dan Sogorka, president of RealEC Technologies. More>>