Two businesses that will form part of Aviva Investors, the global asset management arm of Aviva plc, announced today that they have reached an agreement to acquire Madison Harbor Capital LLC, a U.S. real estate investment firm. Aviva announced in February that it would combine Aviva Capital Management and Morley Fund Management Ltd. to form Aviva Investors, with all of its combined firms having $623 billion of assets under management as of Feb. 28. Aviva Investors will formally launch in September.

U.S. consumer confidence fell more than forecast in April to a 26-year low as record gasoline prices and rising unemployment threaten to reduce spending, Bloomberg reported. The Reuters/University of Michigan sentiment index decreased to 62.6, from 69.5 the previous month. The measure was lower than a preliminary estimate of 63.2 issued on April 11. The cost of refueling an automobile is up 17 percent and property values have fallen. Sales of houses and cars have declined as a result, contributing to a slowdown that may bring an end to the six-year expansion. The index of consumer expectations for six months from now, which more closely projects the direction of consumer spending, dropped to 53.3 from 60.1 last month.

The Dallas County Courthouse has opened for business after a three-year rehabilitation project. Voters approved a $10 million bond referendum in 2005 to replace floors and restore much of the building’s historic architectural features. The offices of the Dallas County auditor, recorder, treasurer and assessor are located on the second floor. The clerk of court and Juvenile Court Services offices are located on the first floor. Courtrooms are located on the third and fourth floors.

PrivateBank, a unit of PrivateBancorp Inc., announced today that it has opened new commercial banking business development offices in West Des Moines and Denver. The local office is located at 4601 Westown Parkway.



Bank of America Corp. plans to drop the Countrywide Financial Corp. name after it closes on its purchase of the troubled mortgage lender later this year, the San Francisco Business Times reported. Earlier this week, the bank disclosed in testimony to the Federal Reserve that it plans to boost Countrywide’s lending standards, eliminating subprime loans and so-called option adjustable-rate mortgages that include a feature in which the loan balance actually rises over time if borrowers routinely make the minimum payment permitted.

A West Des Moines volunteer and two of the city’s businesses were recognized by the Iowa Department of Economic Development for their efforts to improve the city. Mavis Warne was nominated by the Historic Valley Junction Foundation for her volunteer work. The Lagniappe was winner in the best upper-floor rehabilitation category and Heart of Iowa Marketplace received an honorable mention in best building rehabilitation of less than 5,000 square feet.