Saturday 21st November
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Regulators Issue Cease and Desist Order to Chicago Bank
Written on 30 Sep, 2009 at 16:19 in B.E. 100s | viewed Viewed 129 times times | 0 Comments
Chicago-based Highland Community Bank received a cease and desist order earlier this month from federal and state regulators that charges the company with engaging in unsafe and unsound banking practices. The order also suspends the bank’s authority to pay cash... (Continue reading)
Cash Stuck in Clunkers Traffic Jam
Customers have been coming back again into automobile showrooms. Vehicle sales have jumped by double digits. Dealers should be jubilant, right? Well, not quite.... (Continue reading)
Black Banks Are Feeling the Pinch
Written on 8 Jun, 2009 at 13:58 in B.E. 100s News | viewed Viewed 1,891 times times | 2 Comments
Profits at the nation's black owned banks last year plunged to a nine-year low, newly released data shows. The annual statistics illustrated a major decline as some black owned banks suffered big losses tied to securities-related investments.... (Continue reading)
Williams Capital’s Billion Dollar Deal
Written on 22 May, 2009 at 9:56 in B.E. 100s | viewed Viewed 1,042 times times | 0 Comments
In what is perhaps one of the few silver linings in the dark cloud that is the current financial markets, another black-owned financial services firm has landed a deal – this time to manage assets for a Wall Street giant. Williams... (Continue reading)
Next in Line, but Don’t Say Nepotism
Written on 18 May, 2009 at 12:14 in B.E. 100s | viewed Viewed 2,045 times times | 4 Comments
Imagine being an integral part of an advertising company legacy that includes millions in billings and clients such as American Airlines, the Bermuda Dept. of Tourism, FedEx, and Wal-Mart – all before the age of 25. ... (Continue reading)
Piedmont to Manage Piece of TARP Pie
Written on 15 May, 2009 at 19:11 in B.E. 100s | viewed Viewed 841 times times | 2 Comments
In what could be a landmark deal for Piedmont Investment Advisors LLC (No. 10 on BE Asset Managers list with assets under management of $1.831 billion) was selected with two other firms by the U.S. Department of the Treasury to... (Continue reading)
Smith Graham to Increase Assets to Nearly $6 Billion in Acquisition Deal
Written on 15 May, 2009 at 17:32 in B.E. 100s News | viewed Viewed 2,898 times times | 1 Comment
Smith Graham & Co. Investment Advisors L.P. (No. 8 on the BE Asset Managers list with $2.753 billion in assets under management) acquired the fixed-income and small- and mid-cap value equity assets of a New York City based firm in... (Continue reading)
World Wide Technology Settles Discrimination Suit
Written on 15 May, 2009 at 17:13 in B.E. 100s News | viewed Viewed 1,250 times times | 6 Comments
When Earnest Ryals filed a $3.5 million racial discrimination lawsuit against his former employer back in November 2007, the surprising fact about the lawsuit was that he and the owner of the accused company are both African American. A... (Continue reading)
Washington D.C.’s Independence Federal to Acquire Colombo Bancshares
Written on 15 May, 2009 at 17:10 in B.E. 100s News | viewed Viewed 1,000 times times | 0 Comments
Hoping to boost its profitability, Washington, D.C.-based Independence Federal Savings Bank (No. 14 on the B.E. Banks list with $150.9 million in assets) plans to acquire Colombo Bancshares Inc. of Rockville, Maryland in a stock deal valued at roughly $4.8... (Continue reading)
PRWT Services to Go Public
Written on 15 May, 2009 at 17:09 in B.E. 100s News | viewed Viewed 1,225 times times | 1 Comment
PRWT Services Inc. (No. 57 on the B.E. Industrial/Service 100 list with $76 million in revenues) reported that it is planning to combine with publicly traded KBL Healthcare Acquisition Corp. III. PRWT is a diversified enterprise of pharmaceutical manufacturing and... (Continue reading)