Word: cases
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...lending in 2006, right in the middle of a housing boom. But Horta-Osório looked prescient when U.K. banks such as Alliance & Leicester and Bradford & Bingley kept on lending and then found themselves in crisis when the market crashed. Santander bought them both - in B&B's case, it was only the deposits and branches - for about one-fifth of what it had paid for Abbey. (Read: "U.K. Acts to Stem Bank Panic...
...Other Secret The Abbey turnaround came straight from the Santander playbook - and highlights the second key to the company's incredible success: software. First step, in goes Santander's proprietary Parthenon software, which organizes a bank's business by customer instead of by product line, as had been the case at Abbey. "This is the kind of sophisticated information JPMorgan still didn't have, and I saw it at a Santander branch in Chile," says Davide Serra, head of the U.K.'s Algebris hedge fund. The system facilitates cross-selling to existing customers while allowing Santander to cut back-office...
...Iraqi government says it plans to appeal the recent decision by a U.S. court to dismiss charges against five Blackwater guards accused of killing 17 unarmed Iraqi civilians in 2007. The presiding judge threw out the case on Dec. 31, citing the prosecution's use of inadmissible statements by the contractors--a technicality that Iraqis called "unacceptable and unjust." Baghdad has pledged to pursue further legal action in U.S. and Iraqi courts...
...located 10 miles west of Cambridge, had already secured financing for the $22.5 million land purchase, said Town Manager Donna S. VanderClock. In 2006, Weston had agreed to purchase the property from Harvard, which had acquired the open plot of land in Weston—called the Case Estates—as a gift...
...Case Estates are considered the most desirable open space in Weston, according to VanderClock. The “pastoral” site—which contains both woodlands and meadows—was formerly used as an auxiliary facility for Harvard’s Arnold Arboretum, according to former arboretum director Robert E. Cook...