Word: wachovia
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Dates: during 2000-2009
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FORTY-FIVE MINUTES INTO THE FIRST presidential debate, Bruce Springsteen wandered into the craft services room of the Wachovia Center in Philadelphia where two dozen roadies and a few members of his E Street Band were silently gathered around a TV. "How we doin'?," he asked, pointing to the screen. There was no response. Next he tried a few inquisitive gestures. Thumbs up? Way up? Down? No one shifted his or her gaze. Finally, smiling wryly in recognition of his relative unimportance, Springsteen pulled up a chair and watched with the others...
...fragmented market. When Citigroup was circling before it grabbed First American, the rumor was that either Houston-based Southwest Bancorporation of Texas or Texas Regional Bancshares, based in McAllen, Texas, might get poached. Both remain available. To the east, Florida is hot with deposits from transplanted retirees. In June Wachovia, based in Charlotte, N.C., announced it would buy SouthTrust, based in Birmingham, N.C., which has a major Florida franchise. Many banks have already seen their stock prices bid up, which makes them less attractive. Still, targets could include First National Bancshares, based in Bradenton, Fla., and Tallahassee-based Capital City...
...that a slug of real estate lends tremendous stability to an investment portfolio. So don't fall victim to the rate jitters. REITs can thrive so long as any interest-rate climb is slow and takes place over an extended period, says Christopher Haley, a REIT analyst at Wachovia Securities. And that's just the scenario many economists anticipate, as the rebounding economy finally generates jobs and pushes up the price of everything from aluminum to zinc. The best REITs focus on apartment buildings, where vacancy rates are poised to start falling next year...
...mail scamming, known as phishing, is on the rise. Phony messages requesting account information and passwords are nearly 800 times as prevalent now as they were last fall, says cybersecurity firm MessageLabs. Consumers should be wary of messages purportedly from Citibank, eBay, PayPal, Wachovia, Visa or Bank of America, as some are scams...
...rest of the entertainment units--Universal Pictures, TV networks including USA and Sci Fi, Vivendi Universal Games and the Universal Studios theme parks--for at least $13.5 billion. Bronfman's spokesman says financing is falling into place. The Edgar Bronfman Sr. side of the family will contribute some cash; Wachovia Securities and Merrill Lynch have agreed to help finance the debt; and Cablevision would add its cable assets to any deal in exchange for an equity stake. Bronfman is said to be confident of snagging private-equity backers by the time Vivendi is expected to ask for bids, around...