Commercial Record E-News


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Study: Global wealth up to $40.7 trillion in 2007
Wednesday, June 25, 2008 (87 reads)

Global assets held by wealthy investors rose by 9.4 percent to $40.7 trillion in 2007, a slower pace than in 2006 as the credit crisis took hold, according to a recent study by Merrill Lynch and Capgemini.

"Headcount Reduction" Imminent At Webster Financial
Tuesday, June 24, 2008 (366 reads)

Waterbury-based Webster Financial Corp., parent company of Webster Bank, expects to increase its annual pre-tax earnings by $50 million within two years in part by cutting approximately 240 positions in coming months.

Nontraditional California Financier Opens Offices In Westport
Tuesday, June 24, 2008 (188 reads)

Citing continued local weakness in the traditional bank-driven lending markets for small businesses, San Francisco-based nontraditional financier Business Capital has opened its first East Coast office in Westport.

Conn. Adopts Nationwide Mortgage Licensing System
Tuesday, June 24, 2008 (259 reads)

Connecticut has joined five other states, including two New England states, in adopting the Nationwide Mortgage Licensing System, effective July 1.

Danbury Lender Finances Hotel Purchases
Tuesday, June 24, 2008 (111 reads)

GE Capital Solutions, Franchise Finance of Danbury has loaned Nebraska-based Supertel Hospitality $18.1 million to help the company purchase 10 hotels in Kentucky, South Dakota and Wisconsin.

Consumer Confidence Declines Further In June
Tuesday, June 24, 2008 (111 reads)

The Conference Board's national Consumer Confidence Index fell to 50.4 in June, its fifth-lowest reading ever.

Royal Bank Of Canada Buys 10% Of Stamford Firm
Monday, June 23, 2008 (169 reads)

The Royal Bank of Canada has acquired a 10 percent stake in Stamford-based money management firm O'Shaughnessy Asset Management.

Aetna Appoints New Head Of Government Relations
Monday, June 23, 2008 (118 reads)

Hartford health-insurer Aetna has appointed Steven B. Kelmar, 53, as head of government relations, effective July 1.

Prudential Conn. Realty To Offer Free Property Tools
Monday, June 23, 2008 (221 reads)

Prudential Connecticut Realty will offer free property-valuation and property-profile tools on its website, allowing consumers to independently evaluate their homes.

REX Agreement Introduced In Connecticut
Monday, June 23, 2008 (161 reads)

Connecticut homeowners have been given another option for accessing the equity in their homes with the introduction of the "Rex Agreement" from San Francisco-based real estate investment company Rex & Co.