Commercial Record E-News


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The Whiteman Group ‘Joins Forces’ With RE/MAX Alliance
Monday, January 26, 2009 (299 reads)

The Whiteman Group, a Guilford real estate firm specializing in distressed and bank-owned properties, has “joined forces” with Branford’s REMAX Alliance, according to the companies.

S&P Says GE Rating Not Affected By Earnings Drop
Monday, January 26, 2009 (98 reads)

Standard & Poor's said Monday that the top-tier credit rating of General Electric Co. was unaffected by the U.S. conglomerate's 44 percent fourth-quarter profit drop.

Tilmant To Be Replaced By Hommen At ING
Monday, January 26, 2009 (116 reads)

Michel Tilmant, chief executive officer of Dutch banking company ING, which has a significant presence in Connecticut, will step down from his post and be succeeded by Jan Hommen, currently chairman of the supervisory board of ING Group.

Conn. Residents Worried About Economy, Jobs & Taxes
Monday, January 26, 2009 (139 reads)

The economy, jobs and taxes are the most pressing concerns for Connecticut residents as they enter the heart of the recession, according to a survey commissioned by the Connecticut Business and Industry Association.

U.S. Existing Home Sales Rose 6.5 Percent In Dec.
Monday, January 26, 2009 (146 reads)

The pace of sales of existing homes in the U.S. rose 6.5 percent in December, but the median home price dropped by a record 15.3 percent compared to the same period the year earlier, a National Association of Realtors report showed on Monday.

Peoples United Down 23 Percent In Q4
Friday, January 23, 2009 (250 reads)

People's United Financial, based in Bridgeport, has reported fourth quarter net income of $35.4 million, compared to $46 million for the fourth quarter of 2007, a 23 percent decline.

Putnam Bank Has Mixed 2008 Results
Friday, January 23, 2009 (129 reads)

PSB Holdings, the holding company for Putnam Bank, reported net income for the quarter ended Dec. 31 of $2 million, compared to $685,000 for the quarter ended December 31, 2007, an increase the company attributes to Freddie Mac-related tax benefits.

Tough Markets Teach Student Loan Corp. A Lesson In Q4
Friday, January 23, 2009 (101 reads)

Stamford student lender The Student Loan Corp., a subsidiary of Citibank, has reported net income of $76.2 million, for the year ended Dec. 31, a decrease of $106.5 million (58 percent) compared to net income of $182.7 million reported for 2007.

Lending Arm Troubles Lead To 46 Percent Dip At GE
Friday, January 23, 2009 (105 reads)

General Electric said Friday its fourth-quarter earnings dropped 46 percent as it restructured its troubled lending arm. The news comes as the conglomerate says it expects 2009 to be "extremely difficult" amid the financial crisis.

Three On Board At United Rentals, Hicks Out As Chairman
Friday, January 23, 2009 (98 reads)

Greenwich commercial construction equipment rental firm United Rentals has added José B. Alvarez, Bobby J. Griffin and Filippo Passerini to the company’s board of directors, effective immediately. The company also announced that Vice Chairman Wayland Hicks will resign his directorship, effective March 1.