Painting of Ramechhap Group Art Exhibition "RUPANTARAN"
Wednesday, February 1, 2012
Thursday, August 4, 2011
Monday, July 6, 2009
Wells Fargo to Beef Up Securities Business
Wells Fargo & Co., which stepped away from its conservative roots with its purchase of Wachovia last year, plans to announce that it will expand its securities business. The move comes amid a profit revival on Wall Street.
The San Francisco-based Wells had mostly avoided the investment-banking and capital-markets business that banks such as J.P. Morgan Chase & Co. and Citigroup embraced and instead focused on plain-vanilla banking. It now plans to "grow and invest" in the securities business that it largely inherited from Wachovia, Wells Chief Executive John Stumpf said in a statement to be released Monday.
The business, to be called Wells Fargo Securities, will face off against established rivals in offering merger advice, stock and bond underwriting, loan syndications and fixed-income trading. One factor behind the move is a rebound on Wall Street, where profits are surging as capital markets stabilize and the credit squeeze makes basic investment-banking businesses more lucrative.
The bank also realized Wachovia had some pretty good lines of business that could serve its clients. A Wells Fargo spokeswoman declined further comment.
Its Dec. 31 acquisition of Charlotte, N.C.-based Wachovia gave Wells a bigger platform in those areas. Trading income and investment fees accounted for $3 billion in revenue during Wells' first quarter, or 14% of the total, with about $2.2 billion of that amount contributed by Wachovia.
Wells needs to boost profits to help replenish its equity, hurt by, among other things, a $37.2 billion writedown on a portion of Wachovia's loan book. U.S. stress tests said Wells needed $13.7 billion in additional equity, second-highest among the banks measured. The bank responded by raising $8.6 billion in a stock sale and said the rest will be generated internally.
There were early signs Wachovia's securities business might be sacrificed in favor of Wells's more conservative approach. Wells Chief Financial Officer Howard Atkins said in November 2008 the plan was to downsize "higher risk" portions of the business. In December, Mr. Stumpf said proprietary trading didn't align with Wells's "vision and values."
The San Francisco-based Wells had mostly avoided the investment-banking and capital-markets business that banks such as J.P. Morgan Chase & Co. and Citigroup embraced and instead focused on plain-vanilla banking. It now plans to "grow and invest" in the securities business that it largely inherited from Wachovia, Wells Chief Executive John Stumpf said in a statement to be released Monday.
The business, to be called Wells Fargo Securities, will face off against established rivals in offering merger advice, stock and bond underwriting, loan syndications and fixed-income trading. One factor behind the move is a rebound on Wall Street, where profits are surging as capital markets stabilize and the credit squeeze makes basic investment-banking businesses more lucrative.
The bank also realized Wachovia had some pretty good lines of business that could serve its clients. A Wells Fargo spokeswoman declined further comment.
Its Dec. 31 acquisition of Charlotte, N.C.-based Wachovia gave Wells a bigger platform in those areas. Trading income and investment fees accounted for $3 billion in revenue during Wells' first quarter, or 14% of the total, with about $2.2 billion of that amount contributed by Wachovia.
Wells needs to boost profits to help replenish its equity, hurt by, among other things, a $37.2 billion writedown on a portion of Wachovia's loan book. U.S. stress tests said Wells needed $13.7 billion in additional equity, second-highest among the banks measured. The bank responded by raising $8.6 billion in a stock sale and said the rest will be generated internally.
There were early signs Wachovia's securities business might be sacrificed in favor of Wells's more conservative approach. Wells Chief Financial Officer Howard Atkins said in November 2008 the plan was to downsize "higher risk" portions of the business. In December, Mr. Stumpf said proprietary trading didn't align with Wells's "vision and values."
Thursday, May 7, 2009
comorcial airlines
What Works for Retail & Consumer Services
Commercial AirlinesBy Betty W. Stark
Partner with the right airlines to maximize air travel savings. Did you know that on an average air travel day, there are about nine million commercial airline seats winging around the world on approximately 77,371 flights? If air travel confuses you, you’re not alone. To cut through commercial airline clutter, determine which air travel options best fit the way you do business, then pledge your loyalty to those commercial airlines that fly the most extensive routes AND go where YOU ... Read more
Business Tool Kit
Technology & Internet
• Business Phone Systems
• Internet Access
• Internet Marketing
• Website Development
• Accounting Software
Money & Finance
• Business Insurance
• Business Loans
• Corporate Cards
• Credit Card Processing
• Vehicle Insurance
Employees
• Employee Benefits
• Hiring
• Payroll Services
• Time and Attendance
Commercial AirlinesBy Betty W. Stark
Partner with the right airlines to maximize air travel savings. Did you know that on an average air travel day, there are about nine million commercial airline seats winging around the world on approximately 77,371 flights? If air travel confuses you, you’re not alone. To cut through commercial airline clutter, determine which air travel options best fit the way you do business, then pledge your loyalty to those commercial airlines that fly the most extensive routes AND go where YOU ... Read more
Business Tool Kit
Technology & Internet
• Business Phone Systems
• Internet Access
• Internet Marketing
• Website Development
• Accounting Software
Money & Finance
• Business Insurance
• Business Loans
• Corporate Cards
• Credit Card Processing
• Vehicle Insurance
Employees
• Employee Benefits
• Hiring
• Payroll Services
• Time and Attendance
BUSINESS
What Works for Business
TODAY'S FEATURE
Guide to Incorporating a BusinessBy Frances Sharpe Incorporating your business provides multiple benefits, including protecting your personal assets, providing a variety of tax-related savings, reducing the chances of an IRS audit, and increasing your company's credibility with customers.Read more >>
NEW WHAT WORKS ARTICLES
Advertising: How to Calculate an Ad BudgetBy Elaine Grant Some great online tools can help you plan your advertising investment
Purchasing: Getting Started in Business BarterBy Linda Formichelli Get what you need for less by bartering with other companies
Business Growth: How to Franchise Your BusinessBy Marcia Layton Turner Share your success tips for a percentage of profits
Management: Where to Find Subcontracting BusinessBy Meagan Francis Building relationships with general contractors can be a great way to start or build a business of your own
TODAY'S FEATURE
Guide to Incorporating a BusinessBy Frances Sharpe Incorporating your business provides multiple benefits, including protecting your personal assets, providing a variety of tax-related savings, reducing the chances of an IRS audit, and increasing your company's credibility with customers.Read more >>
NEW WHAT WORKS ARTICLES
Advertising: How to Calculate an Ad BudgetBy Elaine Grant Some great online tools can help you plan your advertising investment
Purchasing: Getting Started in Business BarterBy Linda Formichelli Get what you need for less by bartering with other companies
Business Growth: How to Franchise Your BusinessBy Marcia Layton Turner Share your success tips for a percentage of profits
Management: Where to Find Subcontracting BusinessBy Meagan Francis Building relationships with general contractors can be a great way to start or build a business of your own
Wednesday, April 22, 2009
AUTO INSURANCE
« Are your car insurance rates going up? Main Waive early termination fees for jobless »
Auto insurance companies return fees to Marylanders: Naughty businesses of the Week
More than half of Maryland's auto insurance companies have had to pay hundreds of thousands in administrative penalties and restitution to their policyholders after mishandling claims when vehicles are declared a total loss, according to the Maryland Insurance Administration.
A year-long review has revealed that ...
... 67 companies were undercompensating drivers by not correctly calculating the value of these vehicles, given the increase in Maryland's sales tax as well as increasing Motor Vehicle Administration fees, such as the title fee.
"To date, the MIA has fined the offending companies $235,000.00 and has instructed them to pay a total of $442,590.38 in restitution to 4,120 Maryland citizens,” said Ralph S. Tyler, the state insurance commissioner in a statement. “We are still in the process of examining seven companies, but we are committed to getting vehicle owners what they are guaranteed under the law."
Everyone impacted has already received their cash, an average payment of $100. Click this link to see the list of penalized auto insurance companies
Auto insurance companies return fees to Marylanders: Naughty businesses of the Week
More than half of Maryland's auto insurance companies have had to pay hundreds of thousands in administrative penalties and restitution to their policyholders after mishandling claims when vehicles are declared a total loss, according to the Maryland Insurance Administration.
A year-long review has revealed that ...
... 67 companies were undercompensating drivers by not correctly calculating the value of these vehicles, given the increase in Maryland's sales tax as well as increasing Motor Vehicle Administration fees, such as the title fee.
"To date, the MIA has fined the offending companies $235,000.00 and has instructed them to pay a total of $442,590.38 in restitution to 4,120 Maryland citizens,” said Ralph S. Tyler, the state insurance commissioner in a statement. “We are still in the process of examining seven companies, but we are committed to getting vehicle owners what they are guaranteed under the law."
Everyone impacted has already received their cash, an average payment of $100. Click this link to see the list of penalized auto insurance companies
LIFE INSURANCE
life insurance
Life insurance or life assurance is a contract between the policy owner and the insurer, where the insurer agrees to pay a sum of money upon the occurrence of the insured individual's or individuals' death or other event, such as terminal illness or critical illness. In return, the policy owner agrees to pay a stipulated amount called a premium at regular intervals or in lump sums. There may be designs in some countries where bills and death expenses plus catering for after funeral expenses should be included in Policy Premium. In the United States, the predominant form simply specifies a lump sum to be paid on the insured's demise.
As with most insurance policies, life insurance is a contract between the insurer and the policy owner whereby a benefit is paid to the designated beneficiaries if an insured event occurs which is covered by the policy.
The value for the policyholder is derived, not from an actual claim event, rather it is the value derived from the 'peace of mind' experienced by the policyholder, due to the negating of adverse financial consequences caused by the death of the Life Assured.
To be a life policy the insured event must be based upon the lives of the people named in the policy.
Insured events that may be covered include:
Serious illness
Life policies are legal contracts and the terms of the contract describe the limitations of the insured events. Specific exclusions are often written into the contract to limit the liability of the insurer; for example claims relating to suicide, fraud, war, riot and civil commotion.
Life-based contracts tend to fall into two major categories:
Protection policies - designed to provide a benefit in the event of specified event, typically a lump sum payment. A common form of this design is term insurance.
Investment policies - where the main objective is to facilitate the growth of capital by regular or single premiums. Common forms (in the US anyway) are whole life, universal life and variable life policies. History
Main article:
History of insurance
Insurance began as a way of reducing the risk of traders, as early as 5000 BC in China and 4500 BC in Babylon. Life insurance dates only to ancient Rome; "burial clubs" covered the cost of members' funeral expenses and helped survivors monetarily. Modern life insurance started in late 17th century England, originally as insurance for traders: merchants, ship owners and underwriters met to discuss deals at Lloyd's Coffee House, predecessor to the famous Lloyd's of London.
The first insurance company in the United States was formed in Charleston, South Carolina in 1732, but it provided only fire insurance. The sale of life insurance in the U.S. began in the late 1760s. The Presbyterian Synods in Philadelphia and New York created the Corporation for Relief of Poor and Distressed Widows and Children of Presbyterian Ministers in 1759; Episcopalian priests organized a similar fund in 1769. Between 1787 and 1837 more than two dozen life insurance companies were started, but fewer than half a dozen survived.
Prior to the American Civil War, many insurance companies in the United States insured the lives of slaves for their owners. In response to bills passed in California in 2001 and in Illinois in 2003, the companies have been required to search their records for such policies. New York Life for example reported that Nautilus sold 485 slaveholder life insurance policies during a two-year period in the 1840s; they added that their trustees voted to end the sale of such policies 15 years before the Emancipation Proclamation.
Life insurance or life assurance is a contract between the policy owner and the insurer, where the insurer agrees to pay a sum of money upon the occurrence of the insured individual's or individuals' death or other event, such as terminal illness or critical illness. In return, the policy owner agrees to pay a stipulated amount called a premium at regular intervals or in lump sums. There may be designs in some countries where bills and death expenses plus catering for after funeral expenses should be included in Policy Premium. In the United States, the predominant form simply specifies a lump sum to be paid on the insured's demise.
As with most insurance policies, life insurance is a contract between the insurer and the policy owner whereby a benefit is paid to the designated beneficiaries if an insured event occurs which is covered by the policy.
The value for the policyholder is derived, not from an actual claim event, rather it is the value derived from the 'peace of mind' experienced by the policyholder, due to the negating of adverse financial consequences caused by the death of the Life Assured.
To be a life policy the insured event must be based upon the lives of the people named in the policy.
Insured events that may be covered include:
Serious illness
Life policies are legal contracts and the terms of the contract describe the limitations of the insured events. Specific exclusions are often written into the contract to limit the liability of the insurer; for example claims relating to suicide, fraud, war, riot and civil commotion.
Life-based contracts tend to fall into two major categories:
Protection policies - designed to provide a benefit in the event of specified event, typically a lump sum payment. A common form of this design is term insurance.
Investment policies - where the main objective is to facilitate the growth of capital by regular or single premiums. Common forms (in the US anyway) are whole life, universal life and variable life policies. History
Main article:
History of insurance
Insurance began as a way of reducing the risk of traders, as early as 5000 BC in China and 4500 BC in Babylon. Life insurance dates only to ancient Rome; "burial clubs" covered the cost of members' funeral expenses and helped survivors monetarily. Modern life insurance started in late 17th century England, originally as insurance for traders: merchants, ship owners and underwriters met to discuss deals at Lloyd's Coffee House, predecessor to the famous Lloyd's of London.
The first insurance company in the United States was formed in Charleston, South Carolina in 1732, but it provided only fire insurance. The sale of life insurance in the U.S. began in the late 1760s. The Presbyterian Synods in Philadelphia and New York created the Corporation for Relief of Poor and Distressed Widows and Children of Presbyterian Ministers in 1759; Episcopalian priests organized a similar fund in 1769. Between 1787 and 1837 more than two dozen life insurance companies were started, but fewer than half a dozen survived.
Prior to the American Civil War, many insurance companies in the United States insured the lives of slaves for their owners. In response to bills passed in California in 2001 and in Illinois in 2003, the companies have been required to search their records for such policies. New York Life for example reported that Nautilus sold 485 slaveholder life insurance policies during a two-year period in the 1840s; they added that their trustees voted to end the sale of such policies 15 years before the Emancipation Proclamation.
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