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GMAC ResCap
GMAC ResCap, Inc. was a residential mortgage loan originator and servicer based in Minneapolis, United States. As a result of its exposure to subprime lending during the subprime mortgage crisis, the company filed for bankruptcy protection in 2012 and underwent liquidation in December 2013. History In 1982, Residential Funding Company LLC was formed as a subsidiary of Northwest Bank. In 1990, the company was acquired by GMAC Mortgage Corp. In 2005, GMAC (now Ally Financial), a subsidiary of General Motors, transferred ownership of GMAC Mortgage Corporation and Residential Funding Corporation (GMAC-RFC) to Residential Capital Corporation (ResCap) and contributed $2 billion of equity. In January 2007, the company eliminated 1,000 jobs. In October 2007, the company eliminated 3,000 jobs. At the beginning of 2007, the company had 14,000 employees. In May 2008, the company reported that it may run out of money. In June 2008, the company completed a $60 billion refinancing. In 20 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Subsidiary
A subsidiary, subsidiary company or daughter company is a company owned or controlled by another company, which is called the parent company or holding company. Two or more subsidiaries that either belong to the same parent company or having a same management being substantially controlled by same entity/group are called sister companies. The subsidiary can be a company (usually with limited liability) and may be a government- or state-owned enterprise. They are a common feature of modern business life, and most multinational corporations organize their operations in this way. Examples of holding companies are Berkshire Hathaway, Jefferies Financial Group, The Walt Disney Company, Warner Bros. Discovery, or Citigroup; as well as more focused companies such as IBM, Xerox, and Microsoft. These, and others, organize their businesses into national and functional subsidiaries, often with multiple levels of subsidiaries. Details Subsidiaries are separate, distinct legal entities f ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Associated Press
The Associated Press (AP) is an American non-profit news agency headquartered in New York City. Founded in 1846, it operates as a cooperative, unincorporated association. It produces news reports that are distributed to its members, U.S. newspapers and broadcasters. The AP has earned 56 Pulitzer Prizes, including 34 for photography, since the award was established in 1917. It is also known for publishing the widely used '' AP Stylebook''. By 2016, news collected by the AP was published and republished by more than 1,300 newspapers and broadcasters, English, Spanish, and Arabic. The AP operates 248 news bureaus in 99 countries. It also operates the AP Radio Network, which provides newscasts twice hourly for broadcast and satellite radio and television stations. Many newspapers and broadcasters outside the United States are AP subscribers, paying a fee to use AP material without being contributing members of the cooperative. As part of their cooperative agreement with the AP, most ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Defunct Financial Services Companies Of The United States
{{Disambiguation ...
Defunct (no longer in use or active) may refer to: * ''Defunct'' (video game), 2014 * Zombie process or defunct process, in Unix-like operating systems See also * * :Former entities * End-of-life product * Obsolescence Obsolescence is the state of being which occurs when an object, service, or practice is no longer maintained or required even though it may still be in good working order. It usually happens when something that is more efficient or less risky r ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mortgage Lenders Of The United States
A mortgage loan or simply mortgage (), in civil law jurisdicions known also as a hypothec loan, is a loan used either by purchasers of real property to raise funds to buy real estate, or by existing property owners to raise funds for any purpose while putting a lien on the property being mortgaged. The loan is " secured" on the borrower's property through a process known as mortgage origination. This means that a legal mechanism is put into place which allows the lender to take possession and sell the secured property ("foreclosure" or "repossession") to pay off the loan in the event the borrower defaults on the loan or otherwise fails to abide by its terms. The word ''mortgage'' is derived from a Law French term used in Britain in the Middle Ages meaning "death pledge" and refers to the pledge ending (dying) when either the obligation is fulfilled or the property is taken through foreclosure. A mortgage can also be described as "a borrower giving consideration in the form o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Services Companies Disestablished In 2013
Finance is the study and discipline of money, currency and capital assets. It is related to, but not synonymous with economics, the study of production, distribution, and consumption of money, assets, goods and services (the discipline of financial economics bridges the two). Finance activities take place in financial systems at various scopes, thus the field can be roughly divided into personal, corporate, and public finance. In a financial system, assets are bought, sold, or traded as financial instruments, such as currencies, loans, bonds, shares, stocks, options, futures, etc. Assets can also be banked, invested, and insured to maximize value and minimize loss. In practice, risks are always present in any financial action and entities. A broad range of subfields within finance exist due to its wide scope. Asset, money, risk and investment management aim to maximize value and minimize volatility. Financial analysis is viability, stability, and profitability ass ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Services Companies Established In 1982
Finance is the study and discipline of money, currency and capital assets. It is related to, but not synonymous with economics, the study of production, distribution, and consumption of money, assets, goods and services (the discipline of financial economics bridges the two). Finance activities take place in financial systems at various scopes, thus the field can be roughly divided into personal, corporate, and public finance. In a financial system, assets are bought, sold, or traded as financial instruments, such as currencies, loans, bonds, shares, stocks, options, futures, etc. Assets can also be banked, invested, and insured to maximize value and minimize loss. In practice, risks are always present in any financial action and entities. A broad range of subfields within finance exist due to its wide scope. Asset, money, risk and investment management aim to maximize value and minimize Volatility (finance), volatility. Financial analysis is viability, stability, and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Law360
Law360 is a subscription-based, legal news service based in New York City. It is operated by Portfolio Media, Inc., a subsidiary of LexisNexisSabroski, Suzxanne (May 1, 2012) LexisNexis goes 360, ''Onliline'' and delivers breaking news and analysis to more than 2 million U.S. legal professionals across 60 practice areas, industries and topics, including a free section dedicated to Access to Justice, which reports on "access of individuals and disadvantaged populations to adequate, equitable, and essential criminal and civil justice systems as well as the noteworthy initiatives and individuals who promote such a cause." Since 2003, Law360 has expanded its layout and organization, adding special sections on various topics supplementing the daily news, editorial analysis, business of law, and features. Since 2022, Law360 has been organized into the following sections: Law360 U.S., Law360 U.K., Law360 Pulse, Law360 Tax Authority, Law360 Employment Authority, Law360 Insurance Authority ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
UBS AG
UBS Group AG is a multinational Investment banking, investment bank and financial services company founded and based in Switzerland. Co-headquartered in the cities of Zürich and Basel, it maintains a presence in all major financial centres as the List of largest banks, largest Swiss banking institution and the Private banking, largest private bank in the world. UBS client services are known for their strict bank–client confidentiality and culture of #Banking secrecy, banking secrecy. Because of the bank's large positions in the Americas, Europe, the Middle East and Africa, EMEA, and Asia-Pacific, Asia Pacific markets, the Financial Stability Board considers it a Systemically important financial institution, global systemically important bank. Apart from private banking, UBS provides wealth management, asset management, and investment banking services for private, corporate, and institutional clients with international service. UBS manages the largest amount of private weal ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Goldman Sachs Group
Goldman Sachs () is an American multinational investment bank and financial services company. Founded in 1869, Goldman Sachs is headquartered at 200 West Street in Lower Manhattan, with regional headquarters in London, Warsaw, Bangalore, Hong Kong, Tokyo, Dallas and Salt Lake City, and additional offices in other international financial centers. Goldman Sachs is the second largest investment bank in the world by revenue and is ranked 57th on the Fortune 500 list of the largest United States corporations by total revenue. It is considered a systemically important financial institution by the Financial Stability Board. The company has been criticized for a lack of ethical standards, working with dictatorial regimes, close relationships with the U.S. federal government via a "revolving door" of former employees, and driving up prices of commodities through futures speculation. While the company has appeared on the 100 Best Companies to Work For list compiled by ''Fortune'', prim ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Citigroup
Citigroup Inc. or Citi (Style (visual arts), stylized as citi) is an American multinational investment banking, investment bank and financial services corporation headquartered in New York City. The company was formed by the merger of banking giant #Citicorp, Citicorp and financial conglomerate Travelers Group in 1998; Travelers was subsequently spun off from the company in 2002. Citigroup owns Citicorp, the holding company for Citibank, as well as several international subsidiaries. Citigroup is Delaware General Corporation Law, incorporated in Delaware. Citigroup is the List of largest banks in the United States, third largest banking institution in the United States; alongside JPMorgan Chase, Bank of America, and Wells Fargo, it is one of the Big Four (banking)#United States, Big Four banking institutions of the United States. It is considered a Systemically important financial institution, systemically important bank by the Financial Stability Board and is commonly cited as ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
PR Newswire
PR Newswire is a distributor of press releases headquartered in Chicago. The service was created in 1954 to allow companies to electronically send press releases to news organizations, using teleprinters at first. The founder, Herbert Muschel, operated the service from his house in Manhattan for approximately 15 years. The business was eventually sold to Western Union and then United Newspapers of London. In December 2015, Cision Inc. announced it would acquire the company. On January 1, 2021, Cision formally merged PR Newswire into the company, ending its status as a legal entity after 66 years. Cision plans to continue utilizing the brand name for the foreseeable future in the United States, as well as in Europe and the Asia-Pacific regions. History PR Newswire was founded in March 1954 by Herbert Muschel, who ran the business from his town house in New York City for the first 15 years of its operation. The company used telecommunications lines and teleprinters owned by Weste ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pittsburgh Tribune-Review
The ''Pittsburgh Tribune-Review'', also known as "the Trib," is the second largest daily newspaper serving metropolitan Pittsburgh, Pennsylvania, in the United States. Although it transitioned to an all-digital format on December 1, 2016, it remains the second largest daily in the state, with nearly one million unique page views a month. Founded on August 22, 1811, as the ''Greensburg Gazette'' and in 1889 consolidated with several papers into the ''Greensburg Tribune-Review'', the paper circulated only in the eastern suburban counties of Westmoreland and parts of Indiana and Fayette until May 1992, when it began serving all of the Pittsburgh metropolitan area after a strike at the two Pittsburgh dailies, the ''Pittsburgh Post-Gazette'' and ''Pittsburgh Press'', deprived the city of a newspaper for several months. The Tribune-Review Publishing Company was owned by Richard Mellon Scaife, an heir to the Mellon banking, oil, and aluminum fortune, until his death in July 2014. Sca ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
