Credit Research News - June, 2008

S&P cuts Brunswick rating amid weak environment

Credit-ratings agency Standard & Poor's Ratings Services on Monday cut its ratings for Brunswick Corp.,

CSC Named Premier Value Provider for Community Bankers' SmartLender Program

CSC (NYSE: CSC) today announced that ICBA SmartLender LLC has selected CSC as its provider of merged mortgage credit

Community Bankers Association of Oklahoma Endorses SecureWorks as their IT Security Services

Community Bankers Association of Oklahoma (CBAO) has endorsed the services of SecureWorks, one of the market's leading Security

VEXXHOST Web Hosting & LinkWorth partner to give clients free advertisement credit

VEXXHOST, a provider for web hosting and domain names announced its new partnership with LinkWorth to provide all of its clients with $100 worth

IRS may get reports on credit card payments

Congress is on the verge of requiring payment card processors to tell the Internal Revenue Service how much money merchants receive

Get Free Credit-Monitoring Services

I heard about a settlement worth $10 billion with the credit bureau TransUnion that is supposed to give millions of people access to free credit-monitoring services.

Reeling economy forces more into credit card debt

Where will the money come from?

Class-action settlement provides free credit monitoring

If you're thinking about buying a home or refinancing - even if you've got excellent credit

Credit Bureau Settles Lawsuit Consumers Get Free Credit Services

An estimated 160 million Americans are eligible for financial compensation or up to 9 months of free credit monitoring services

Degradation of long-term credit rating on Morgan Stanley manifests the slow but steadily

According to Moody's Senior Vice President Peter Nerby, ‘Markets have clearly been challenging

WBS Connect Secures $3.5 Million of Credit from Silicon Valley Bank for Continued Expansion

WBS Connect, a Colorado-based global technology services company, today announced it has secured $3.5 million in new capital through credit facilities with Silicon Valley Bank (SVB)

Closing Glance: Most diversified financials drop

Most diversified financial-services stocks suffered another big decline on Friday as oil prices climbed higher

Spammers Cash in on Credit Crunch to Advertise Products and Services

The tough economic times are hard on consumers, but spammers have not skipped a beat.

ANALYSIS-U.S. muni bond market frets about insurer FSA

Bill Ackman wants to sink bond insurer FSA the same way he helped take down its larger rivals MBIA Inc

BUYINS.NET: CNB, GU, TPX, COINW, DRYS, ICON Have Been Added To Naked Short List Today

BUYINS.NET, www.buyins.net, announced today that these select companies have been added to the NASDAQ, AMEX and NYSE naked short threshold list:

Utilities, services available to Keller area

Verizon: Call 800-483-4000 during business hours, 8 a.m. to 6 p.m. Monday through Friday, or log on www.verizon.com.

County's credit rating gets boost

Standard & Poor's Rating Services upgraded St. Clair County's credit rating after the county's agreement to help Cottrellville Township improve its water supply system.

Consumers can get free credit score, report as part of settlement

Consumers can find out their credit score and get a credit report at no charge under terms of a recently settled class action suit

Consumers can get free credit score, report as part of settlement

Consumers can find out their credit score and get a credit report at no charge under terms of a recently settled class action suit

S&P cuts AutoZone corporate credit rating

Standard & Poor's Ratings Services on Thursday cut its investment grade corporate credit rating for AutoZone Inc.

Oxford Security Check sells to private equity firm in multi-million dollar transaction

In a multi-million-dollar transaction that forms one of the nation’s largest check collection companies

American Express Slump Signals Economic Strain

American Express, the biggest U.S. credit card company by purchases and cash advances, said customers are falling further

Fitch Cuts Issuer-Default Ratings Of GM, Chrysler

Fitch Ratings cut the issuer-default ratings of General Motors Corp. and Chrysler LLC one notch further into junk territory

The good guys of credit repair

When it comes to finding someone to help you improve your credit, there are good companies and bad. The key is knowing the difference.

Siemens Financial Services Supplies $60 Million Revolving Credit Facility to M Space Holdings

Siemens Financial Services announced that it has provided a $60,000,000 revolving credit facility for M Space Holdings.

Discover seen posting earnings drop amid weak credit

It's a tough time to be a credit card lender, as investors are likely to learn on Thursday, when Discover Financial Services

Capital Pacific Bank Adds Jason Hilton to Growing Client Service Team

Jason Hilton has joined Capital Pacific Bank (OTCBB: CPBO) as Vice President and Client Service Officer.

Three More Credit Unions Choose StreamLend Velocity for Simple Integration, Functionality

IA Systems, an Open Solutions business unit and a provider of lending software and services to financial institutions

Citation's ratings cut to 'B' on lower profitability, outlook negative - S&P

Standard & Poor's Ratings Services said it downgraded its long-term corporate credit ratings on United States-based auto supplier Citation Corp.

The Ratings Racket

How badly do the major credit-rating firms have to perform before investors stop using their services?

Equitable Resources short-term rating cut to 'A-3' - S&P

Standard & Poor's Ratings Services lowered its short-term issuer rating on Equitable Resources Inc. to 'A-3' from 'A-2',

Justice Department sues Sameday Tax Services

Dallas company Sameday Tax Services and its owner, Lennon Madzima, are being sued by the Department of Justice.

Free: 9 Months of TransUnion's Credit Monitoring

Worried about I.D. Theft -- or just curious about your credit score? TransUnion, one of the big three credit bureaus

Circuit City, Ulta Salon, LTX Plunge;RCN, Superior Well Jump

Another selloff among financial companies meant another down day for small-capitalization stocks.

Fitch puts Republic Services, Allied Waste on watch

Fitch Ratings placed Republic Services on negative watch and Allied Waste Industries on positive watch Monday after the companies announced a merger.

Analyst: MBIA could lose up to additional $7.5B

MBIA continues to fall amid uncertainty around bond insurance sector, days after downgrade

Dexia Will Provide $5 Billion Line of Credit to FSA (Update4)

Dexia SA will provide a $5 billion credit line to help its Financial Security Assurance Holdings Ltd. unit maintain top credit ratings

Online Resources expands services for KleinBank

Online Resources Corp., which provides online financial transaction services, will offer its retail and business banking services for KleinBank.

Business Credit Expert David Gass to Hold Business Success Seminar; Registration Now Open for July

Business Credit Expert David Gass, President and Founder of Business Credit Services (BCS), Inc., is now accepting registrations for the 4th & Final Success Steps to Business Success Seminar to be held July 24-27 in Las Vegas.

Dexia Will Provide $5 Billion Line of Credit to FSA (Update3)

Dexia SA will provide a $5 billion credit line to help Financial Security Assurance Holdings Ltd. maintain the top rating after a hedge fund questioned

Sign up for free credit monitoring

The service offered by TransUnion -- the result of a class-action lawsuit -- is open to an estimated 160 million Americans. The registration deadline is Sept. 24.

Business people

Goldmark Property Management says Jeremy Petron has been promoted to area manager for Bismarck.

Cablevision loan for Newsday purchase gets 'junk' rating

Moody's gave a junk rating Friday to a proposed $650-million loan that would finance the deal for Cablevision to buy Newsday from the Tribune Co.

n Losses signal possible employment recession; financial services, construction among hardest hit

The East Bay has lost nearly 12,000 jobs so far in 2008 — including thousands more last month

Standard & Poor's puts Ford on negative watch list

Standard & Poor's puts Ford on negative watch list amid worries about ailing US auto market

S&P places General Motors on negative credit watch

S&P places General Motors on negative credit watch, citing high fuel prices hurting sales

Moody's Downgrades MBIA, Ambac

Moody's Investors Service downgraded bond insurers MBIA(MBI - Cramer's Take - Stockpickr) and Ambac Financial(ABK - Cramer's Take - Stockpickr) on late Thursday

More gas pains: cash only coming?

Gene Fink paid more than $2,700 in credit card fees last month from the service station he owns in Aspinwall.

NewMarket Technology, Inc. Releases CEO Shareholder Letter Discussing Managed Services

NewMarket Technology, Inc. (OTCBB: NMKT) today released a letter to shareholders from Philip Verges, the Company CEO. The letter is included in its entirety below

Premarket roundup: Oil services, Carmax

Premarket roundup: Analyst upgrades oil services sector, Carmax upgraded to 'Market Perform'

Alliance Data to provide private label credit card services to PD Financial

Alliance Data Systems Corp. (ADS: News, Chart, Quote ), a provider of transaction-based marketing and customer loyalty solutions

Legends Business Group, Inc. Creates New Division and Hires Department Manager

Legends Business Group, Inc. (OTCBB: LGBS) -- Larry Powalisz, President and CEO of Legends Business Group

Farm Credit Services Pledges Help for Flood Victims

Disastrous floods in south central and northern Indiana are creating hardships on farm families and their operations

UPDATE 1-EZCorp to shut 11 Florida credit stores

Lender EZCorp Inc (EZPW.O: Quote, Profile, Research) said it would discontinue its Florida credit services business after state regulators

House leaders report healthy finances amid slump

House leaders are doing well financially during this economic slump.

Answers to Common Credit Card Problems

Web Resources to Help You Manage Credit Card Debt or Report Possible Fraud

No more progress in credit quality seen for U.S. office furniture sector - S&P

Standard & Poor's Ratings Services said it does not expect further improvement in credit quality for rated companies in the U.S. office furniture

When Gas Stations Run Out of Gas

Consumers aren't the only ones getting squeezed at the pump. Many gas station owners can't afford to buy gas either

Citi cuts tech sector as credit deteriorates

Citigroup on Monday dropped technology giant IBM and added healthcare group Aetna Inc. to its recommended list, as it cut its weighting on the technology hardware and equipment sector and revised its weighting in other sectors due to deteriorating credit conditions.

Rita Haynes: Give credit unions the credit they deserve

The personal debt crisis looms heavy over our nation. Last week, Ohio Gov. Ted Strickland signed legislation to severely limit the predatory practices

Settlement results in free credit monitoring service

You can sign up today to receive free credit monitoring services from the credit bureau TransUnion due to a settlement the company reached on a class-action lawsuit.

Free Tips from Providers of CareOne Credit Counseling Services: How to Cut Summer Spending to Manage

The added expenses of summer can create additional burdens for consumers who are already facing financial trouble and trying to manage their debt. In this article, agencies who provide CareOne Credit Counseling Services offer free tips on having a more affordable, yet comfortable, summer without increasing your debt.

AIG replaces CEO Sullivan amid subprime woes

The world's biggest insurer, American International Group Inc (AIG.N), replaced CEO Martin Sullivan on Sunday after it suffered two quarters

Gas retailers also battling high prices

Record gas prices have left many gasoline retailers struggling to find a balance between competitive pricing and staying out of the red.

CSU on pace for second-best year in fundraising

Colorado State University is on pace for its second-best year in fundraising.

Group Helping Families Obtain Bigger Refunds: Earned Income Tax Credit Often Overlooked

This year, the Owensboro-Daviess County Asset Building Coalition helped 2,032 regional families with income tax preparation

MasterCard undamaged by credit mess

Q: Do the shares of MasterCard Inc. still have potential, or have they already had their pop?

Tips to protect yourself from rescue scams

Talk directly with your lender or mortgage servicer regarding your account. Lenders don't charge you a fee to negotiate

What can I do if my home equity line of credit is frozen?

Many banks are refusing to allow more borrowing on individual customers' home equity lines of credit, regardless of payment history

AgCountry announces hires and promotions

AgCountry Farm Credit Services, Fargo, has promoted Patti Sell to vice president of records and Bradley Fjestad to business analyst.

Merger may keep big firm in Valley

Allied Waste Industries Inc., Arizona's fourth-largest public company, may be ready to merge with a big competitor while staying in the Valley.

Tennessee ‘green’ project, backed by area investors, struggles with debt

It seemed like a good idea: a “deep green” residential development featuring cutting-edge, energy-efficient homes and the latest in green technology.

GMAC Financial Services hires credit risk officer

GMAC Financial Services named Rajinder Singh to the newly created role of chief credit risk officer.

Community Banks and Credit Unions Gain Competitive New Internet Marketing and Service Suite

eDominate Inc, a global provider of buying-cycle management software for financial institutions, today announced its partnership with LKCS

Scientific Games Announces New Credit Facilities

Scientific Games Corporation (Nasdaq: SGMS) announced today that its subsidiary, Scientific Games International, Inc.,

Five Minutes With - George Merkle - 'Money Woes'

With gas prices averaging $4 per gallon and milk not far behind, consumers are feeling the crunch.

Owner Operators-A Guide for Working with Brokers

Helpful tools to assist you in your day-to-day business dealings with Brokers!

Salmon Falls Community, Service credit unions merge

Salmon Falls Community Credit Union merged into Service Credit Union June 1 and is now known as the Somersworth Branch of Service Credit Union

Newark Group's credit rating cut to 'B'; ratings still on watch negative - S&P

Standard & Poor's Ratings Services has lowered its corporate credit rating on Newark Group Inc. to 'B' from 'B+',

Allied Solutions Partners With Gateway Services

Gateway Services Group, LLC, a national, credit union-owned provider of insurance, investment and trust management

FCC Examines Mobile Termination Fees

The U.S. Federal Communications Commission should abolish early-termination fees because they're unfair to customers

U.S. power sector's credit quality may be hit by carbon constraints - S&P

Standard & Poor's Ratings Services said the U.S. public power sector has maintained credit stability despite energy-price inflation

The FTC Mugs CompuCredit

Did disgraced former New York State Attorney General Eliot Spitzer got a job with the Federal Trade Commission?

S.D. bank denies credit card deception

A Brookings-based bank accused of deceptive credit card marketing practices by the Federal Deposit Insurance Corp. denies the charges

McCain’s remark sparks an uproar

Democrats pounce after he says it is 'not too important' to set a timeline for U.S. troop withdrawal from Iraq.

More People Seek Credit Counseling

As more Americans find their wallets empty, the consumer credit counseling service wants people to know they're here to help

Team Financial slate gets corporate governance services' endorsement

Team Financial Inc., embroiled in a dissident shareholder's proxy battle to elect directors at the bank owner's June 17 annual meeting

Home and Auto Lenders Turn to Credit Repair for Help Closing Loans

Mortgage brokers and auto lenders are turning to the credit repair services of Lexington Law to help close more loans. Many have helped customers improve their chances of getting a loan by working with Lexington Law, the largest credit correction law firm in the nation.

Consumer Credit Counseling Services Helps Build Financial Stability, Officials Say

Consumer Credit Counseling Services, a program of the Partnership for Families, Children and Adults, is reaching out to individuals

Speech By SEC Chairman Christopher Cox: Statement At Open Meeting On Rules For Credit Rating Agencie

Good morning. This is an open meeting of the U.S. Securities and Exchange Commission under the Government in the Sunshine Act on June 11, 2008.

CEO Valorie Seyfert of CUSO Financial Services, LP Named Ernst & Young Entrepreneur Of The Year(R)

CUSO Financial Services, LP, (CFS) a full-service broker dealer and Registered Investment Adviser that provides customized investment and insurance solutions

CD Explaining What an Expert Witness Can Do for Your Preference Case Now Available for Attorneys

Services, Inc., has created a CD to help attorneys understand exactly what a bankruptcy preference expert can do to help bolster their cases. It also provides attorneys hiring experts with a blueprint of what sort of credentials and experience they should expect from the experts they hire.

City rolled up its sleeves and scrubbed off the red ink

It's not glamorous, but for Minneapolis, paying off the city's revolving charge accounts is starting to pay dividends.

Open Solutions Expands Complete Credit Union Solution Services

Open Solutions, a provider of integrated, enterprise-wide data processing technologies for banks and credit unions throughout the United States

Fire Destroys Bluffton Farm Credit Office

The Bluffton, Indiana Farm Credit Services office was totally destroyed by fire on Monday, June 9.

Discover pursues damages from rivals

Discover Financial Services is seeking $6 billion in damages in a 2004 lawsuit against Visa and MasterCard over anti-competitive rules that Discover

Cricket Launches Unlimited Wireless Services in St. Louis

Wireless service with freedom from contracts, counting minutes and credit checks with a low, flat monthly rate is now available in St. Louis.

S&P 500 Leaders & Laggards: Alcoa, WaMu

Alcoa Inc. recorded the largest gain on the Standard & Poor's 500 on Monday, helping lift the index to a higher close after wavering during the session.

U.S. life insurers showing resilience to economic downturn - S&P

Standard & Poor's Ratings Services' Insurance 2008 conference in New York indicated that life insurers are showing resilience to the downturn

Give your company a distinct name

Dear Karen: The name I want to use for a small publishing firm is being used by a firm not in the publishing sector. Can I use it?

GIS Announces Tax Credit Service

General Information Services, Inc. (GIS), a leader in providing background screening solutions, is announcing a new tax-incentive service

Multifaceted Credit Crises Hitting the Financial Markets- Part 1

After stock markets have held up bravely in the face of the credit crises and mounting economic woes, a combination of renewed concerns

High-tech ATMs give images, fast credit

In a world of high-definition television sets and multifunction cell phones, the humble ATM is finally getting its chance to go high-tech.

Business people

Jennifer Pierson has joined MDU Resources Group Inc. as an administrative assistant II in the human resources department.

Kenneth Harney: Be wary of credit repair services

Picture this: You're eager to take advantage of today's troubled real estate market and buy a foreclosed house at a fire-sale price.

Give this credit monitor strategy a look

A class-action settlement of a multibillion-dollar lawsuit against credit bureau giant TransUnion could result in credit monitoring benefits to as many as 190 million consumers.

As economy worsens consumers turn to bartering for goods, services

As the economy slows, a growing number of consumers are trying to find a wider market for their goods and services by offering to barter them

Never Pay In Advance To Fix Your Credit

Picture this: You're eager to take advantage of today's troubled real estate market and buy a foreclosed house at a fire-sale price.

Don't pay upfront for credit-repair service

Picture this: You're eager to take advantage of today's troubled real estate market and buy a foreclosed house at a fire-sale price.

High Arctic Energy Services Announces Amendments to Credit Facilities, Issuance of Warrants

High Arctic Energy Services Inc. ("HighArctic" or the "Corporation") announced today that it has negotiatedextensions to its existing credit facilities to March 31, 2009

MyECheck Inc. Lists Its Competitive Advantages

Company Provides Alternative to Other Payment Systems That Is Faster, Cheaper and Guaranteed

U.S. Consumer Credit Increases $8.9 Billion in April (Update1)

U.S. consumer borrowing increased more than forecast in April as Americans racked up personal loans for everything from vacations to automobiles to education.

Farm Credit Services Offers Free Ice Cream For A Year

As a sign of its commitment to supporting dairy farming in Rural America, Farm Credit Services of Mid-America (FCS) is celebrating Dairy Month

Crate and Barrel keeps Alliance for credit card services

Crate and Barrel has renewed its contract with Alliance Data Systems Corp., signing a multiyear agreement to continue receiving private label credit card services.

Spammers exploiting credit crunch

Spammers are capitalising on the slow economy to push financial services scams to unwary users.

Troy University Statement on Tuition Change

Troy University will change the way it charges tuition by implementing a per-credit-hour tuition schedule beginning fall semester 2008

Area squad continue league play

Despite storms during the last week, the McDonough County Girls Softball League (M.C.G.S.L.) has managed to dodge the raindrops

EZCORP Announces Definitive Agreement to Acquire Value Financial Services

EZCORP, Inc. (Nasdaq: EZPW) announced today that it has entered into a definitive merger agreement to acquire 100% of the equity

S&P Downgrades MBIA, Ambac

Standard & Poor's on Thursday downgraded embattled bond insurers MBIA (MBI - Cramer's Take - Stockpickr) and Ambac

Pollyannas are lonely on topic of U.S. jobs

With all eyes on tomorrow's non-farm payrolls report, there was some surprisingly upbeat news on the U.S. employment front yesterday.

Stocks hobbled by renewed credit jitters

Credit concerns flare after Moody's puts bond insurers on negative credit watch, eclipsing stronger economic data and falling oil prices.

U.S. Stocks Drop After Bernanke Warns Inflation Is Fed Priority

U.S. stocks fell, sending bank shares to their lowest level in eight years, as Federal Reserve Chairman Ben S. Bernanke's warning that inflation is too high spurred

Moody's Eyes Downgrade for MBIA, Ambac

Bond insurance giants MBIA (MBI - Cramer's Take - Stockpickr) and Ambac (ABK - Cramer's Take - Stockpickr) are facing credit downgrades

Service Industries in the U.S. Probably Expanded at Slower Pace

U.S. service industries probably expanded at a slower pace in May, signaling the housing slump, credit crisis and jump in fuel costs

'Untraceable' phone fraudsters eye your credit card

Scams involving email and fake banking websites may get all the attention, but a recent rash of fraudulent phone calls shows criminals haven't given up on more traditional tools

Willbros to Present at the Credit Suisse 2008 Engineering & Environmental Services Conference

Willbros Group, Inc. (NYSE: WG) announced today that Management will present at the Credit Suisse 2008 Engineering & Environmental Services Conference

Lee’s Summit insurer for credit unions sold

Specialty insurer Allied Solutions LLC, of Carmel, Ind., has acquired MJB Insurance Services Inc., of Lee’s Summit, the two companies said Tuesday.

State Street Offers $2.5 Billion Common Amid Credit Market Woes

State Street Corp. (STT) said late Monday it began a $2.5 billion common stock offering, becoming the latest financial firm to seek additional investment.

CDC Software’s Pivotal CRM Helps Evangelical Christian Credit Union Improve Collaboration

Pivotal CRM Delivers 360 Degree View of Member Information So Evangelical Christian Credit Union Can Provide More Personalized Service, Improve Business Analysis, and Deepen Its Client Relationships

Credit Suisse Spins Off Homegrown Virtual Machine Management Firm

After trying all sorts of other vendors, the financial services firm built DynamicOps so well; it's decided to offer it as a standalone product.

Shaw to Present at Credit Suisse Engineering & Environmental Services Conference

The Shaw Group Inc. (NYSE: SGR) announced today that J.M. Bernhard Jr., chairman, president and chief executive officer, and Brian K. Ferraioli, executive vice president

Credit Crunch Reveals Economic Racial Divide

Five thousand dollars, minus $600: That's how much credit card debt my friend Ricardo has, now that he has applied his economic stimulus check to his card balances.

Battling Rising Food and Gas Prices: Tips on How to Avoid Using Credit Cards When Buying

Providers of CareOne Credit Counseling services offer consumers some helpful tips on how to manage their credit debt effectively even when the cost of living is so high. In the month of May, they address how to combat rising food and gas prices without drowning in credit card debt.

Dycom Industries, Inc. to Present at the Credit Suisse 2008 Engineering & Environmental Services

Dycom Industries, Inc. (NYSE: DY) announced today its upcoming presentation at the Credit Suisse 2008 Engineering & Environmental Services Conference