Tuesday, July 18, 2006

Here Come the Bad Loans

Snip...

"The company also set aside $60 million for bad loans, more than doubling the $26 million set aside in the same period last year. Net charge-offs rose slightly to $76 million from $72 million.

Despite the rise in bad loans, Chairman and CEO David A. Daberko called the credit quality "sound," and said that he was pleased with the earnings."

Full article...

5 Comments:

Anonymous Denis B said...

No Bubble Ever Created Net Wealth for the society as a whole.
All the trillions of dollars of artificial wealth created out of thin air over the last few years will vaporize. Yes, vaporize into the thin air again.

Bubbles transfer wealth from one player to the other. The early entrants win, the late entrants lose, and the industry insiders make their huge commissions on volume.

Tuesday, July 18, 2006 7:56:00 PM  
Blogger blogsurfer said...

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Tuesday, July 18, 2006 10:34:00 PM  
Blogger blogsurfer said...

This comment has been removed by a blog administrator.

Tuesday, July 18, 2006 11:32:00 PM  
Anonymous Anonymous said...

Eastern Monmouth MLS is 4511 on Wednesday morning July 19th.

Inventory continues to climb.

Ray

Wednesday, July 19, 2006 8:14:00 AM  
Anonymous Anonymous said...

Matawan prepares for revaluation

Council earmarks $250G for project to be done by year's end
Posted by the Asbury Park Press on 07/19/06
BY JANEEN JONES
KEYPORT BUREAU

MATAWAN — The Borough Council has set aside $250,000 to pay for a property revaluation.

The council voted Tuesday to make the appropriation through capital bonds to cover the costs for the revaluation of all properties, including private, commercial, residential and borough-owned.

The revaluation will be conducted by Realty Appraisal of New York, said Frederick C. Carr, borough administrator.

It is aimed at providing equality in setting assessments so that all property owners pay their fair share of taxes, Carr said.

During the next couple of months, homeowners will receive a letter notifying them about the revaluation, he said. Realty Appraisal will conduct appraisals of properties soon after that, he said. Property owners then will have the opportunity to appeal the assessment.

The borough hopes to have the revaluation done by the end of this year but must have it completed by spring 2007 if the new figures are to be applied to the 2007 tax records, Carr said.

The revaluation, which was ordered by the state Division of Taxation, is the first for the borough since 1991, Carr said. There are about 2,600 properties on the borough's tax roll, he said.

Eric Zanetti, borough tax assessor, will assist in the revaluation process, Carr said.

The Borough Council also formally renamed the softball field at the municipal community center. It became The Jeremiah E. Hourihan Sr. Field in honor of a longtime resident.

The recognition was given to Hourihan for all of his work in the borough over the years. The council presented Hourihan with a plaque thanking him.

"I thank the council and mayor for their consideration, and I appreciate it very much," Hourihan said.

http://www.app.com/apps/pbcs.dll/article?AID=/20060719/NEWS01/607190379/1004/NEWS01

Wednesday, July 19, 2006 11:16:00 AM  

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