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Insurance

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Aviva earns high rankings in life insurance report card

Aviva USA earned a number of high honors in the recently released Agent’s Sales Journal 2011 Life Insurance Carrier Report Card.

The company placed in the top five in seven of the eight categories surveyed. …

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First Federal approved for membership in Federal Reserve System

First Federal Savings Bank of Iowa has been approved for membership in the Federal Reserve System, the bank’s parent company, North Central Bancshares Inc., announced yesterday.

Last month, the bank received regulatory approval from the …

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Bill could create natural catastrophe insurance commission

A discussion draft Senate bill aimed at extending and reforming the National Flood Insurance Program calls for establishing a new commission, the National Commission on Natural Catastrophe Risk Management and Insurance, BusinessInsurance.com reported. According to …

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It was the best of times …

Wells Fargo & Co., the fourth-largest U.S. bank by assets, posted a higher quarterly profit, beating analysts’ estimates, as it dipped into funds previously set aside for bad loans, Reuters reported. The company said second-quarter …

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… it was the worst of times

Bank of America Corp., the largest U.S. bank by assets, reported a quarterly net loss of $8.8 billion, or 90 cents per share, for the three months ended June 30, compared with net income of …

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Federated acquires EquiTrust mutual fund assets

Federated Investors Inc., one of the nation’s largest investment managers, on Monday completed the transition of approximately $509 million in equity, fixed income and money market assets from EquiTrust Series Fund Inc. and EquiTrust Variable …

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MetaBank earnings hit by regulatory actions

Meta Financial Group Inc. reported a net loss of $1 million for its third fiscal quarter, which ended June 30, due in large part to $5.2 million in charges to resolve regulatory actions. The Storm …

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Ratings agencies ready to move on debt-ridden United States

Two ratings agencies expect U.S. policy-makers to raise the debt ceiling, but lawmakers might also have to agree to meaningfully reduce the nation’s deficit in order for the United States to avoid downgrades, CNNMoney reported.…

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Employers given more time to disclose 401(k) data

Employers with 401(k) and other participant-directed individual account plans will be given additional time to comply with a new rule requiring employers to disclose fees and expenses of investment options offered by the plans to …

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Cisco stock looks ready to saddle up and ride


Dear Mr. Berko:

In April 2009, I bought 300 shares of Cisco at $17. And as you can see, it is still $17. My broker has advised me to sell, because he believes the stock …