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Citigroup (C)

Citigroup Inc. has named former Mexico President Ernesto Zedillo to its board of directors. Citigroup also said former AT&T Inc. executive Michael Armstrong and Xerox Corp. Chairman Anne M. Mulcahy won’t stand for re-election at the annual shareholder meeting on April 20, Citigroup said today in a statement.
The Citigroup board overhaul continues.

Feb 26 · 10:29:00 AM
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by Larry Etter

Hartford Financial Services (HIG)

The Hartford Financial Services Group, Inc. announced Edward J. "Ned" Kelly, III, Vice Chairman of Citigroup Inc., will retire from The Hartford`s Board of Directors.

Feb 25 · 2:35:00 PM
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by Larry Etter

Chubb (CB)

The Board of Directors of The Chubb Corporation today declared a quarterly dividend in the amount of $0.37 per share payable April 6, 2010 to shareholders of record on March 19, 2010. This represents an increase of $0.02 per share or a 5.7% increase over the $0.35 dividend paid last quarter.

Feb 25 · 2:33:00 PM
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by Larry Etter

Blackstone (BX)

Feb. 25 (Bloomberg) -- Blackstone Group LP, the world’s biggest private-equity company, reported fourth-quarter profit of $329.4 million as it resumed deal-making and marked up the value of companies it owns.....“We believe the worst is behind us,” Stephen Schwarzman, Blackstone’s 63-year-old chairman and chief executive officer, said in a statement.....
I believe, as does the market (Blackstone shares closed yesterday at $14, less than half their June 2007 IPO price of $31) that while the worst may indeed be behind us, as Mr. Schwarzman says, Blackstone still has their work cut out for them. They have 8 companies laying in the IPO wings, paying down the debt is crucial for Blackstone, and investors are anxious to see some return on their investments. It will be interesting to watch the path of these eight, market conditions will certainly have to improve form them to come public.

Feb 25 · 9:35:00 AM · Source: Bloomberg
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by Jerry Byrne

Royal Bank of Scotland (RBS)

Feb. 25 (Bloomberg) -- Royal Bank of Scotland Group Plc, Britain’s biggest government-controlled lender, reported a narrower-than-estimated full-year net loss, and increased its pay and bonuses for investment bankers by 44 percent.....RBS, which needed 45.5 billion pounds in taxpayer-funded support, is undergoing the most complicated restructuring of any company in history, Hester said last month. The bank’s 2009 loss is slightly more than the cost of Britain’s war in Afghanistan, which cost about 3.5 billion pounds in 2009, according to House of Commons Defence Committee figures last year.
Oh boy, I can just see the taxayers of Britain now. Can the strikes and protests in London be far behind? Remember the riot at the Group of 20 summit meeting in London just about a year ago. RBS is one of Britain’s most bailed-out banks. Think of it as their own version of AIG or General Motors, two companies which the gov't control massive stakes. And the bankers are now going to receive a 44% bonus increase?

Feb 25 · 8:45:00 AM
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by Jerry Byrne

Legg Mason (LM)

BALTIMORE -- Legg Mason Inc. (NYSE:LM) has disclosed a 20.80 percent stake valued at $330.21 million in Eastman Kodak Co. (NYSE: EK) according to Form 13G filings with the U.S. Securities and Exchange Commission. The Baltimore-based investment firm said it owned 55.78 million shares in the Rochester, N.Y. maker of photographic equipment. The stake's value was based on Kodak's Feb. 22 closing stock price of $5.92 per share.
Is this a case of how low can you go with Kodak? Is Legg Mason seeing something traders have missed with EK now for years? Is the once might & powerful Rochester, NY company destined for a comeback? Long ago I actively followed Eastman Kodak, with it's fall from grace these past 6-8 years I took it off my monitor and forgot about it. Know what, I think it's time to put it back on the screens.

Feb 23 · 3:51:00 PM
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by Jerry Byrne

U.S. Bancorp (USB)

U.S. Bank has launched an enhanced cash vault service called Advanced Cash Credit and Notification solutions. The new solutions include Remote Cash Deposit and the DTS® Tracking System. Both services help companies streamline their cash handling needs, provide additional information regarding their deposits, reduce cost and mitigate risk.
Remote Cash Deposit is designed to mitigate the risk of fraud and reduce labor expense associated with cash handling, while also increasing staff safety and productivity.

Feb 23 · 10:58:00 AM · Source: Company Press Release
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by Larry Etter

Regions Financing (RF)

Regions Financial has announced the company`s executive management team and other organizational changes. David Turner has been named Chief Financial Officer; David Edmonds has been named to the new position of Chief Administrative Officer; Bill Wells, Chief Risk Officer and Tim Laney, head of Business Service; John Owen, head of Consumer Services.

Feb 23 · 10:55:00 AM · Source: Company Press Release
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by Larry Etter

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