Commercial Record E-News


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Webster To Take $230 Million Credit, Securities Blow
Friday, January 16, 2009 (321 reads)

Webster Financial Corp., the holding company for Webster Bank, said it expects to record charges of $130 million in the fourth quarter related to its securities portfolio, and a further $100 million in credit losses.

Solar Installations Completed At Seven Conn., Mass. Locations
Friday, January 16, 2009 (169 reads)

Boston-based WinnCompanies has completed solar power installations at seven affordable housing locations in Connecticut and Massachusetts, in what the company says is one of the largest such efforts in the country.

Citigroup Loses $8.3B, To Split In Two
Friday, January 16, 2009 (155 reads)

Citigroup Inc., scrambling to survive losses triggered by the credit crunch, unveiled plans to split in two and shed troubled assets, and reported a quarterly loss of $8.29 billion.

Stamford Mortgage Co. Closes 13 Loans
Friday, January 16, 2009 (197 reads)

Silo Financial Corp., a Stamford-based mortgage finance company specializing in real estate-secured situational bridge loans, has closed 13 loans totaling $15.37 million.

Slot Machine Revenue Down At Foxwoods, Mohegan
Friday, January 16, 2009 (273 reads)

The slumping economy is continuing to eat into the slot machine profits at Foxwoods Resort Casino and Mohegan Sun in eastern Connecticut.

Apple Valley Bank To Be Acquired
Thursday, January 15, 2009 (279 reads)

Enfield-based New England Bancshares, holding company of Enfield Federal Savings and Loan Association and Valley Bank, will acquire Apple Valley Bank of Cheshire for $7.3 million.

Dodd, Senate To Probe Madoff Scandal
Thursday, January 15, 2009 (129 reads)

The U.S. Senate Banking Committee will hold a hearing Jan. 27 to examine Wall Street financier Bernard Madoff's alleged $50 billion fraud, a committee aide said Thursday.

Rising Unemployment Leads To Shift In Career Goals
Thursday, January 15, 2009 (161 reads)

The steady rise in unemployment has led most employees to shift their career focus from maximizing career advancement and incentive opportunities to securing basic pay and benefit packages.

House To Seek $825B In New Economic Stimulus
Thursday, January 15, 2009 (155 reads)

Democratic leaders in the U.S. House will push for quick passage of a $825 billion economic stimulus bill being unveiled Thursday.

Life Insurance Application Activity Off Nearly 10 Percent
Thursday, January 15, 2009 (118 reads)

North American application activity for individually underwritten life insurance declined 8.9 percent in December compared to the same month in 2007, according to the MIB Life Index.