fremont



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Shares of Fremont General Corp.spiked after the opening bell Tuesday as the company agreed to sell most of its remaining business and put its future in the hands of a well-known turnaround specialist
May 22 '07 -Business- www.forbes.com -business,fremont,billion
11
All that will remain of Fremont General after the sales is a bank, Fremont Investment & Loan
May 22 '07 -Business- www.forbes.com -business,fremont,billion
10
As of the end of September, its commercial loan portfolio totaled $5.95 billion
May 22 '07 -Business- www.forbes.com -business,fremont,billion
7
What remained was the company's commercial real estate lending unit, which issues loans to builders and developers constructing or renovating condominiums, office buildings and hotels
May 22 '07 -Business- www.forbes.com -business,fremont,billion
7
Over past 30 years, Ford has bought and sold more than 40 banks, the best known of which was Golden State Bancorp Inc., which he sold to Citigroup Inc.for $5.8 billion
May 22 '07 -Business- www.forbes.com -business,fremont,billion
5
Early Tuesday, Fremont General said it is now selling that business too, to iStar Financial Inc.for $1.9 billion
May 22 '07 -Business- www.forbes.com -business,fremont,billion
5
"They bring an expertise to the company that will certainly be useful," he said in a phone interview
May 22 '07 -Business- www.forbes.com -business,fremont,billion
4
As of September, the bank had $9.56 billion in deposits, mostly from certificates of deposit sold through brokers or at the bank's 22 branches in California
May 22 '07 -Business- www.forbes.com -business,fremont,billion
3
Last month, the Santa Monica, Calif.-based lender found a buyer for its troubled home loan business
May 22 '07 -Business- www.forbes.com -business,fremont,billion
3
Fremont General sold a 20 percent stake in its remaining business to an investment group led by Gerald J.Ford, a Texas investor known for buying and selling banks
May 22 '07 -Business- www.forbes.com -business,fremont,billion
3
Fremont's shares fell victim to the subprime mortgage debacle, and even with the surge in morning trading the stock is still down more than 38 percent for the year.
May 22 '07 -Business- www.forbes.com -business,fremont,billion
2
Sky Capital LLC analyst Theodore P.Kovaleff said investors hope Ford will figure out what to do with Fremont's deposits, develop some kind of banking business, and probably sell it to a big bank within three years
May 22 '07 -Business- www.forbes.com -business,fremont,billion
2
Fremont's stock leapt $2.85, or 40.1 percent, to $9.96 in morning trading
May 22 '07 -Business- www.forbes.com -business,fremont,billion

 
 

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