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The rapper, whose major-label debut album is due out later this year, told the Houston Chronicle that such criticism of hip-hop is rooted in the fact that the genre has become increasingly "commercialized." "The artists are losing their essence," he said...
1 room in a two bedroom apartment in a two family house. Apartment is completely furnished, air conditioning throughout. Quiet tenants in quiet neighborhood. Near red line (Davis square) and several bus lines...
From their Silicon Valley cubicles, Apple staffers have become music's unlikely power brokers. Our reporters on the horse-trading that can turn unknowns into stars...
With a new single due out this week singer/songwriter FOY VANCE has spent the last number of years in London at odds with the dichotomy of making music and the music industry itself....
JUST AFTER Mary Piepho was sworn in as chairwoman of the Contra Costa County Board of Supervisors last week, the Republican introduced her team's new seating assignments on the dais. "We have John Gioia on my far left...
Mainfreight funds growth for Life Education Trust...
If you like your bands putting out the same album three or four times than you should probably stop reading here and pick up the next tiresome indie flavor of the week...
| Hun Lee | by www.tradingmarkets.com. All rights reserved. | 21.11 | 5:43 |
S. Trust Corp. in a cash transaction of $3.
3 billion. Bank of America, a provider of banking and non-banking financial services, said that the acquisition would significantly increase the size and capabilities of its wealth business and would position it as the largest financial services company managing private wealth in the U.S.
The transaction is expected to close on March 31, 2007. According to Bank of America, currently it is the second largest manager of private wealth in the U.S.
, based on assets under management by private banks and U.S. Trust holds the fourth position.
U.S. Trust, founded in 1853, currently has almost 2,100 employees based in 33 locations.
U.S. Trust targets high net worth households and ultra high net worth households and it has approximately $94 billion of assets under management.
Citing September 30th financial reports by private banks in the U.S., Bank of America said that the combined entity would be the first in the wealth management industry with $261 billion in assets under management.
Under the direction of Peter Scaturro, U.S. Trust would be combined with The Private Bank of Bank of America.
Scaturro is currently serving as chief executive of U.S. Trust.
In his new role, Scaturro would report to Brian Moynihan, President, Bank of America Global Wealth Investment Management. The Private Bank of Bank of America manages $167 billion in assets, targeting households with more than $3 million in investable assets. In January 2006, Bank of America acquired MBNA.
In a different deal announced in September 2006, Bank of America acquired HealthLogic Systems Corp., a healthcare technology company for disclosed terms. For the third quarter, Bank of America reported a 41% growth in its profit, helped by MBNA acquisition, product sales and cost controls.
The company's third-quarter net income was $5.42 billion, up from $3.84 billion a year earlier.
On a per share basis, the bank posted net income of $1.18, a 24% growth from $0.95 in the same quarter last year.
The bank's revenue for the quarter, on a fully taxable-equivalent basis, grew 32% to $18.96 billion from $14.35 billion in the third quarter of 2005.
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Receive Dave's best setups each evening from his favorite trading patterns. Let Gary Kaltbaum send you timely emails to alrt when breakouts occure...
Receive Dave's best setups each evening from his favorite trading patterns. Let Gary Kaltbaum send you timely emails to alrt when breakouts occure...
Receive Dave's best setups each evening from his favorite trading patterns. Let Gary Kaltbaum send you timely emails to alrt when breakouts occure...
Receive Dave's best setups each evening from his favorite trading patterns. Let Gary Kaltbaum send you timely emails to alrt when breakouts occure...