National City Corporation
Generated Monday November 16, 2009 04:14 AM
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blog We're taking a pretty unsexy approach," - Richard Davis
U.S. Bancorp: Building up the franchise
We took on a responsibility to call as many clients as we possibly could," - Marlene Mosco
National City branches in northwestern Pennsylvania will become part of PNC
On the other hand, they were very disappointed with the value that was being offered."
The Sinking of a Titan
We've watched them make some bad decisions," - Charles Lagarce
Max & Erma's faces long slog: Franchisees are revolting and economy's woes mean recovery won't come easy
September and October came and the meltdown dried up liquidity," - Tracy Coats
Max & Erma's owner seeks Chapter 11
The Cleveland bank, which declined to comment for this article, secured cognovit judgments in September and October of $15.9 million against Max & Erma's, Reinert, his G&R Acquisition Inc. and Damon's International Inc. , the Columbus-based chain of 53 restaurants also acquired by Reinert last year. - Charles Lagarce
Max & Erma's faces long slog: Franchisees are revolting and economy's woes mean recovery won't come easy
He declined to specify the size of the credit line or identify its provider, but said that with the monthly cash flow from the restaurants, the chain could "comfortably handle" a $25 million loan. - Gary Reinert
Max & Erma's owner seeks Chapter 11
Representatives of National City Bank, which is in the process of being converted over to PNC next month, could not be reached for comment on the matter or what its next action over the debts might be. - Tracy Coats
Restaurateur Reinert faces new court challenges
The Irrelevancy of Interested Influence on the Board: In re Nat'l City Corp. Shareholders Litigation The Race to the Bottom Nov 9,'09
In Delaware, courts consider boards independent if they contain a majority of independent directors. That the board might include some percentage of interested or non-independent directors, who can influence the decision making process, appears to have little relevancy to the court's analysis.
PNC Profit Rises Despite Growing Loan Losses WPXI Oct 22,'09
Shares of PNC Financial Services Group Inc. soared Thursday after the nation's fifth largest bank said its profit grew sharply during the third quarter, even as loan losses rose.
UPDATE PNC Reports Profits As Other Regionals Struggle (DJ) EasyBourse Oct 22,'09
By Marshall Eckblad and Matthias Rieker Of DOW JONES NEWSWIRES NEW YORK -(Dow Jones)- PNC Financial Services Group Inc. (PNC) reported higher profits Thursday, distancing itself from two struggling rival regional banks that reported losses. One key distinction: Pittsburgh-based PNC doesn't have the big holdings of construction loans tied to declining real estate markets, which continue
PNC Financial Earnings Soar The Wall Street Journal Oct 22,'09
By MARSHALL ECKBLAD and JOAN SOLSMAN PNC Financial Services Group Inc. on Thursday reported a third-quarter profit of $559 million and said it could repay its $7.6 billion in government support within the next 15 months. The bank also said it expects its levels of bad loans to begin falling.
PNC Earnings More Than Double on Margin, Mortgages (Update1) Bloomberg.com Oct 22,'09
PNC Financial Services Group Inc. , the fifth-largest U.S. bank by deposits, said earnings more than doubled after its December acquisition of National City Corp. and lending became more profitable. Third-quarter net income rose to $559 million, or $1 a share, from $259 million, or 70 cents, in the same period a year earlier, the Pittsburgh-based bank said today in a statement.