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From Breitbart: California is the most negatively affected state with 10 MSA’s (metropolitan statistical areas) among the 15 areas with the most commercial bankruptcy filings during June. Los Angeles, Riverside/San Bernardino and Sacramento metropolitan areas led the nation in small-business bankruptcy filings. The other MSA’s with the most bankruptcy filings during the month include: – Charlotte-Gastonia-Concord, NC-SC [...] From Adam Lashinsky at Fortune: Investors worry that Wells has kept certain Wachovia portfolios off the combined bank’s balance sheet. Frederick Cannon, an analyst with banking specialist Keefe Bruyette & Woods, highlights two potential problems, a $355 billion batch of commercial mortgages and $137 billion of exposure to credit derivatives… In most areas Wells considers itself Wachovia’s [...] There’s a chinese restaurant in this shopping center I’m trying to support. From Breitbart: GREENSBORO, N.C., March 26 /PRNewswire/ — A judge in Guilford County, N.C., today entered a preliminary injunction preventing Wachovia Bank, N.A., from foreclosing on a Greensboro shopping center owned by an affiliate of Granite Development, LLC. The order by Superior Court Judge Richard W. [...] From Wikipedia: Wachovia, pronounced wah-KO-vee-yah, has its origins in the Latin form of the Austrian name Wachau.[1] When Moravian settlers arrived in Bethabara, North Carolina, in 1753, they gave this name to the land they acquired, because it resembled the Wachau valley along the Danube River.[1] The area formerly known as Wachovia now makes up most [...] From The Business Journal: Mark Vitner, an economist with Wachovia, said Wednesday that the Triad economy has slowed but will be buoyed by job growth and a construction industry that is still declining, but at a lower rate. He predicted the region would begin to rebound within the next year. I know some folks who were assured [...] From Reuters: Analysts have estimated Wachovia’s net CMBS exposure at about $9 billion. They say the Charlotte, North Carolina-based bank could face a related fourth-quarter write-down as large as $1.5 billion… In the third quarter, Wachovia suffered $1.3 billion of write-downs from credit market turmoil, causing overall profit to decline 10 percent. Analysts had expected profit to [...] From the WSJ: Real-estate investors aren’t the only ones feeling the pain. Many big banks issued short-term loans to buyers and planned to sell them off later, much the way they do with loans made to private-equity buyout shops. But the banks have gotten stuck with an estimated $65 billion in fixed- and floating-rate loans on [...] |
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