Household HSBC Watch

CHARLOTTE — Belk, Inc. has entered into an agreement to sell its private label credit card business to GE Consumer Finance, the consumer lending unit of General Electric Company (NYSE: GE). As part of the transaction, Belk and GE Consumer Finance will also enter into a long-term marketing and servicing alliance with an initial […]

BIRMINGHAM, Ala.–(BUSINESS WIRE)–June 16, 2005–Retailer Saks Incorporated (NYSE:SKS) (the “Company”) today issued a response to Standard & Poor’s decision to downgrade the Company’s credit ratings. Douglas E. Coltharp, Executive Vice President and Chief Financial Officer of the Company, noted, “We are extremely surprised and perplexed with yesterday’s announcement from S&P. We believe this action was […]

Stephen D. Simpson, CFA, on March 4, 2005 wrote “Saks’ Fate Hangs on Margins” for Motley Fool. We sent him this email:

Of interest to those behind the scenes is the fact that, in an attempt to be profitable, Saks leadership decided to use predatory lender Household International as their private label credit card provider. […]

The Kansas City Saks store is closing. In October 2004 Saks Fifth Avenue Enterprises , a business segment of retailer Saks Incorporated , announced it intends to close eight Saks Fifth Avenue stores and three Off 5th stores. Saks receives ongoing compensation from scandal plagued Household International.

Consumer watchdog organization Household Watch reminds consumers that […]

Consumer Watchdog Organization HSBC Watch, formally Household Watch, informed news services in the United Kingdom of another article about HSBC’s troubled lender Household International.

The article entitled “Mortgage borrowers file RICO lawsuit” first appeared in the Nashville Tennessean on October 25, 2004. It is found here:
http://www.tennessean.com/local/archives/04/09/60293750.shtml?Element_ID=60293750
It is not the first time Household International […]

Have you seen a funny quote from someone in an obvious sate of denial? Let us know.
“Household’s position on predatory lending is perfectly clear,” said Gary Gilmer, president and CEO of HFC and Beneficial. “Unethical lending practices of any type are abhorrent to our company, our employees, and most importantly, our customers.” (Well, he got […]

Best Buy is only one of over 70 merchants aligned with Household. Toshiba, Menard and Saks are the most recent to align. Saks owns Parisians, Proffitt’s, McRaes, Younkers and others. A list of companies can be found in our free E-Book “Damage Control”

Here is a quote for you:
“Saks Incorporated Chairman and Chief Executive Officer, R. […]