TrueFresco Financial News Reader (beta)

Student Loans (50 new)

Yahoo! News - student loans

Students may have to pay back loans from holiday work (NZPA via Yahoo!Xtra News)

Posted: June 23rd, 2009, 10:14pm CDT

Students who work during university holidays may be forced to start paying off their student loans if proposed changes to the repayment threshold are made.
Easing a College Financial Aid Headache (New York Times)

Posted: June 23rd, 2009, 9:11pm CDT

The Obama administration is working to simplify the Free Application for Federal Student Aid, a detailed form that scares off many students.

bizjournals.com Banking & Financial Services - Venture Capital

GreenHunter seeks buyer for biofuels refinery

Posted: June 23rd, 2009, 4:43pm CDT

The largest biofuels refinery in the country, situated along the Houston Ship Channel, is for sale.
Report: Gov. trying to sell State Fund assets for $1B without industry input

Posted: June 23rd, 2009, 3:47pm CDT

Gov. Arnold Schwarzenegger and staff are working behind the scenes to sell assets of the San Francisco-based State Compensation Insurance Fund for a reported $1 billion, and are intentionally keeping the state Department of Insurance and the state Attorney General’s office out of the picture, according to an exclusive report Tuesday by the Workers’ Comp Executive.
American General to lay off 124 in Houston

Posted: June 23rd, 2009, 3:41pm CDT

American General Life Cos. will lay off 124 Houston employees as part of a major work force reduction nationwide.

Yahoo! News - student loans

Tufts Helps Alumni Working in Public Service Repay Education Loans (Newswise)

Posted: June 23rd, 2009, 2:37pm CDT

Tufts University has awarded aid to 288 alumni working in the non-profit and public-service sectors to help them repay student loans through what is believed to be the first university-wide loan repayment assistance program. Anyone may apply who has earned a Tufts degree, is paying off educational loans incurred to attend Tufts and is employed by a qualifying organization. Alumni may reapply ...

bizjournals.com Banking & Financial Services - Venture Capital

Plug adopts shareholder rights plan

Posted: June 23rd, 2009, 1:57pm CDT

Plug Power Inc. has adopted a shareholder rights plan.
A123's Q1 revenue rises, loss widens

Posted: June 23rd, 2009, 1:47pm CDT

A123 Systems Inc.’s first quarter revenue more than doubled year over year, but a spike in research and administrative costs helped widen its net loss, according to a recent Securities and Exchange Commission filing.
North Raleigh HQ for North State Bank

Posted: June 23rd, 2009, 1:29pm CDT

Raleigh-based North State Bank, turning nine this year, has moved into its new 22,000 square-foot headquarters building at the corner of Falls of Neuse and Spring Forest roads.
U.S. to loan $8B to Ford, Nissan, Tesla

Posted: June 23rd, 2009, 1:27pm CDT

The U.S. Energy Department on Tuesday announced $8 billion in loans to Ford, Nissan and Tesla to spur development of more fuel efficient vehicles. (F)
Former Atlanta broker gets 6 years in prison for fraud

Posted: June 23rd, 2009, 1:23pm CDT

Frederick Barton was sentenced Tuesday to serve six and a half years in federal prison for fraudulently diverting $2 million from several clients and investors, including a woman with Alzheimer's disease.
Tesla gets long-awaited government loan

Posted: June 23rd, 2009, 11:38am CDT

Tesla Motors, makers of the first electric car that can travel more than 200 miles between charges, got its $465 million loan guarantee from the government Tuesday. Tesla has been banking on the guarantee for more than two years. The guarantee essentially insures the San Carlos-based company can borrow the money from financial partners to build a factory to produce for Tesla’s next-generation sedan, the Model S. The sedan will sell for around $45,000, that’s with a $7,500 tax credit from the government, and is about half the price of its first production vehicle, the high-end Tesla Roadster. (F)
New South Federal CEO leaves

Posted: June 23rd, 2009, 11:25am CDT

New South Federal Savings Bank Chairman Will Ratliff plans to retake the reins as CEO and president of the company.
Tollgrade prepares for proxy fight with Ramius Group

Posted: June 23rd, 2009, 11:22am CDT

Tollgrade Communications Inc. is making its case to shareholders this week in preparation for a looming proxy fight with activist shareholder Ramius Group, a New York investment firm. (TLGD)
Grant Thornton report: Employers are slashing 401(k) matching programs

Posted: June 23rd, 2009, 11:01am CDT

With the economy still limping along, companies are looking to cut costs at the expense of their employees’ retirement plans, according to a new study by accounting firm Grant Thornton LLP.
Most Stifel clients accept auction rate securities buyback; Carnahan calls offer ‘inadequate’

Posted: June 23rd, 2009, 10:54am CDT

Stifel Financial Corp. said Tuesday that 95 percent of eligible clients have elected to participate in its auction rate securities buyback, but Secretary of State Robin Carnahan says customers accepted "not because it is a good offer, but rather because Stifel has given them no other choice." (SF)
BC Partners invests in Office Depot

Posted: June 23rd, 2009, 10:00am CDT

Office Depot announced that funds advised by BC Partners, an international private equity firm, have invested $350 million in the company by purchasing newly created convertible preferred stock.

Yahoo! News - student loans

Peer-to-Peer Sites Offer College Loans (Fox News)

Posted: June 23rd, 2009, 9:54am CDT

Four peer-to-peer lending sites offer loans for students and parents seeking college funding.

bizjournals.com Banking & Financial Services - Venture Capital

Former Dallas executive named Grant Thornton CEO

Posted: June 23rd, 2009, 9:50am CDT

Stephen Chipman, a former Dallas executive, has been named chief executive officer of accounting firm Grant Thornton LLP.
BofA prices its $2.5B stock swap

Posted: June 23rd, 2009, 9:43am CDT

Bank of America Corp. (NYSE: BAC) on Tuesday announced it wants to sell more than $2.5 billion of common stock in exchange for existing preferred stock. (BAC)
BofA prices share offering

Posted: June 23rd, 2009, 9:21am CDT

Bank of America Corp. has priced its offering to exchange preferred stock for up to 200 million common shares at $12.7 per share. (BAC)
StoneRiver adds financial veteran Lipp to board

Posted: June 23rd, 2009, 9:21am CDT

StoneRiver Inc., the Brookfield insurance technology business formerly called Fiserv Insurance Solutions, has added national financial services veteran Robert Lipp to its board of directors. (JPM) (FISV)

Yahoo! News - student loans

Bayside Credit Union/Loyalist Management Systems give student a helping hand (Belleville Intelligencer)

Posted: June 23rd, 2009, 8:37am CDT

Eight years of post-secondary education is a long and expensive journey. For a student just starting down the path, the trail can seem unending. Connor Emdin, a graduating student at Moira Secondary School, has received a helping hand, as he begins his post-secondary career.[...]
New program helps grads burdened by student loans (Poughkeepsie Journal)

Posted: June 23rd, 2009, 6:57am CDT

What's worse than graduating from college with no job and no prospects of finding one anytime soon?
Cut Your Student Loan Payments (ABC News)

Posted: June 23rd, 2009, 6:12am CDT

Starting next week, a new program will ease the burden of making loan payments.
Ottawa overhauls student aid (Toronto Sun)

Posted: June 22nd, 2009, 6:22pm CDT

Student groups gave the federal government a robust “A” Monday for its overhauled system of post-secondary loans and grants, which takes effect in September.

bizjournals.com Banking & Financial Services - Venture Capital

AICPA survey says high net-worth individuals spending less

Posted: June 22nd, 2009, 4:25pm CDT

Recession woes and stock market volatility have left high- net-worth individuals dining out less, ordering less expensive wines and having items repaired instead of buying new ones.
California pays off $3.9B in bonds

Posted: June 22nd, 2009, 4:24pm CDT

California, which has seen its state credit rating plummet to last place in the nation, on Monday paid off $3.9 billion in revenue anticipation notes it sold in October.
Actuant to sell shares to public

Posted: June 22nd, 2009, 4:02pm CDT

Actuant Corp. announced Monday that it has commenced an underwritten public offering of nine million shares of its class A common stock. (ATU)
SEC goes after Madoff feeders

Posted: June 22nd, 2009, 2:43pm CDT

The Securities and Exchange Commission on Monday filed civil fraud charges against Cohmad Securities Corp, a New York-based broker-dealer, and three individuals with securities fraud, alleging that they collectively raised billions of dollars from investors for Bernard L. Madoff's Ponzi scheme.
RailAmerica raises more than $740 million

Posted: June 22nd, 2009, 2:38pm CDT

RailAmerica Inc. will refinance its debt after selling more than $740 million worth of eight-year senior secured notes in the private placement market.
Hal Leonard, Music Sales start new venture

Posted: June 22nd, 2009, 2:38pm CDT

Europe's largest sheet music publisher Music Sales Group has entered into a joint venture with Milwaukee's Hal Leonard Corp. to expand distribution of Music Sales' publications in North America.
Bulk buyer pays $6.1M for Brickell condos

Posted: June 22nd, 2009, 2:02pm CDT

A private equity investment group has paid $6.1 million, or $203 a square foot, for 31 units at the 1060 Brickell condominium in Miami's financial district, Bal Harbour-based brokerage Condo Vultures said.
Legg Mason's Fetting nets $6.5M in 2009 compensation

Posted: June 22nd, 2009, 1:56pm CDT

Mark Fetting, Legg Mason’s CEO and chairman, took home a total of $6.5 million in total compensation in fiscal 2009, the company said in a filing Monday with the Securities and Exchange Commission. (LM)
Blackfish Creative now Riley Weiss

Posted: June 22nd, 2009, 1:55pm CDT

Blackfish Creative has changed its name to Riley Weiss and appointed a new president, the 14-year-old creative agency announced on Monday.
SEC charges Jaffe, other Madoff 'feeders'

Posted: June 22nd, 2009, 1:46pm CDT

Federal regulators have charged a broker-dealer and four individuals with securities fraud in connection to their services as so-called “feeder funds” for disgraced Ponzi scheme manager Bernard Madoff.
Baltimore's ABS Partners targeting later-stage firms with new $420M fund

Posted: June 22nd, 2009, 1:22pm CDT

Venture capital firm ABS Capital Partners, whose investments include language-learning software firm Rosetta Stone Inc., has raised $420 million create a new fund. (RST) (APEI) (NSR)
Bauer takes stars from 17 banks

Posted: June 22nd, 2009, 1:11pm CDT

Coral Gables-based Bauer Financial took stars, or half-stars, away from 17 financial institutions in South Florida, but gave higher rankings to four others, according to its review of first quarter financial data.
1st Financial Bank will take steps to strengthen itself

Posted: June 22nd, 2009, 1:06pm CDT

1st Financial Bank signed an agreement June 16 with the Kansas Office of the State Bank Commissioner outlining several measures it must take to strengthen the bank.

Yahoo! News - student loans

Improvements To Student Loan Processing (Scoop.co.nz)

Posted: June 22nd, 2009, 12:40pm CDT

A six-million dollar package of improvements to the student loans and allowances processing system, was announced this afternoon by Social Services and Employment Minister Steve Maharey.

bizjournals.com Banking & Financial Services - Venture Capital

Century, Lafitte back CPI’s director slate

Posted: June 22nd, 2009, 12:16pm CDT

Two CPI Corp. shareholders said Monday they plan to back the slate of director candidates nominated by CPI’s board. (CPY)
Bauer Financial issues Q1 credit union ratings

Posted: June 22nd, 2009, 11:43am CDT

Coral Gables-based Bauer Financial found that most large South Florida credit unions were in good shape in the first quarter of this year.
ABS Capital closes $420M fund

Posted: June 22nd, 2009, 11:18am CDT

ABS Capital Partners has closed its most recent fund after raising $420 million from limited partner investors.
Anchor BanCorp names Bauer as new CEO

Posted: June 22nd, 2009, 11:07am CDT

Anchor BanCorp Wisconsin Inc. said Monday that Chris Bauer, the one-time chief executive of Milwaukee's Firstar Bank, will succeed Douglas Timmerman as the Madison bank's president and CEO. (ABCW)
Nexxus Lighting closes $4M offering

Posted: June 22nd, 2009, 10:34am CDT

Nexxus Lighting Inc. has closed a private placement of promissory notes and warrants to accredited investors. (NEXS)
Waterford poised for cash infusion

Posted: June 22nd, 2009, 10:18am CDT

Waterford Village Bank is set to receive a $9 million cash infusion from a New York City-based investor.
Feds close First National Bank of Anthony

Posted: June 22nd, 2009, 10:15am CDT

First National Bank of Anthony (Kan.) was closed by the Office of the Comptroller of the Currency on Friday night, and SNB Bank of Kansas bought virtually all of its assets.
First National Bank of Anthony fails

Posted: June 22nd, 2009, 9:59am CDT

A federal regulator closed the First National Bank of Anthony Friday evening.
Feds want more data on Metavante-Fidelity deal

Posted: June 22nd, 2009, 9:13am CDT

The proposed acquisition of Metavante Technologies Inc. by Fidelity National Information Services Inc. has been postponed until the fourth quarter after the U.S. Department of Justice requested additional information from the two companies under antitrust laws. (MV) (FIS)
Cooperative Bank fails; First Bank acquires assets, branches

Posted: June 22nd, 2009, 9:02am CDT

The 21 branches of Cooperative Bank opened as branches of First Bank on Monday, three days after Wilmington-based Cooperative became the second bank to fail in North Carolina this year.