Household HSBC Watch

In a news article from late last week titled “Business big shot: Michael Geoghegan” we see the power of algorithms and content matching. Although I do not know what the article was really trying to prove, the Times Online also suggests other relative articles. One related article is titled “HSBC profit falls […]

After Sarbanes-Oxley, which was adopted primarily because of the Enron debacle, many foreign entities complained and threated to stop doing business in the United States because of Sarbanes-Oxley requirements. (We have 16 articles in the Sarbanes-Oxley section of this blog.) Banks such as HSBC complained but found it difficult to leave the United […]

Combined third-quarter profits for HSBC USA and HSBC Finance Corp. fell 15.5 percent, as a tight profit margin, lower banking fees, higher operating expenses and higher loan losses offset growth in the company’s bank branch network, commercial lending, retail mortgage and credit card divisions.
The two U.S. units of HSBC Holdings Plc reported total profit before […]

Senior executives at Fannie Mae manipulated accounting to collect millions in “maximum, undeserved bonuses” and deceive investors, a federal report charged Tuesday. The government-sponsored mortgage company was fined $400 million.

The blistering report by the Office of Federal Housing Enterprise Oversight, the result of an extensive three-year investigation, was issued as Fannie Mae struggles to emerge […]

NEW YORK, May 12 (Reuters) - Global bank HSBC’s consumer finance arm’s net income in the first quarter rose 13 percent, as customer loans grew and bankruptcies fell amid a strong U.S. economy, a filing said on Friday.

U.S.-based HSBC Finance Corp., the former Household Finance International business bought in March 2003, said that net income […]

Former Saks Inc. Chief Executive Brad Martin last year received $1.07 million in salary and a performance-based bonus of $265,219, according to a preliminary proxy statement filed Thursday with regulators.

Martin also received restricted stock valued at $3 million and other annual compensation totaling about $133,000, according to the filing with the Securities and Exchange […]

April 5, 2006 — HSBC North America Holdings Inc. announced that it has appointed John (Jack) McGinnis to be its controller. Also announced was the promotion of James Binyon to be chief accounting officer of HSBC Finance Corporation, the consumer finance subsidiary of HSBC North America Holdings Inc.

In the new position of controller, McGinnis […]

PROSPECT HEIGHTS, Ill.–(BUSINESS WIRE)–March 1, 2006–HSBC North America Holdings Inc. announced the appointment of Bruce Hammersley to managing director, business development for retail services. He will lead the retail services team to acquire new merchant partnerships.

Hammersley began his career with the company in 1990 as manager, acquisitions and systems, for the former Household International’s […]

HSBC USA, the immediate legal parent of HSBC Bank USA, said fourth-quarter profits fell 27 percent, driven entirely by the accounting costs of transferring credit card loans and customers with an affiliate company. The bank reported earnings of $196 million, down from $269 million a year ago. For the year, profits similarly fell […]

A look at some of the high-profile corporate scandals of recent years and the status of legal action in each.

QWEST COMMUNICATIONS INTERNATIONAL INC. _ Former Qwest CEO Joseph Nacchio is indicted Tuesday on 42 counts of insider trading accusing him of illegally selling off $101 million in stock. In July, Robin Szeliga, former CFO, pleaded […]