Aldinger Era Execs Fired As Problems Mount

See the latest about Bobby and TransUnion When William F. Aldinger sold his scandal plagued predatory lending company, then called Household International, to HSBC Bank plc he knew he had to profit personally before the sham fell apart. An opportunist who profitted from running scams on borrowers, Aldinger’s departure left room for promotions in the …

Portfolio Recovery Associates Names Kevin Stevenson Chief Administrative Officer

10/25/2005 — Portfolio Recovery Associates, Inc. (NASDAQ: PRAA), a company that purchases and manages portfolios of defaulted consumer receivables and provides a broad range of accounts receivable management services, today announced that Kevin P. Stevenson has been promoted to the newly created position of Chief Administrative Officer. Stevenson has served as Executive Vice President and …

Predatory Lending CEO's Could Escape Big Sentences

Sentencing guidelines that had been in effect in federal courts could call for a sentence well in excess of ten years for some convicted CEO’s because sentences would be ratcheted up in accordance with a huge dollar loss in the crimes involved. But the guidelines are no longer mandatory under a recent U.S. Supreme Court …

As We Predicted – Saks Downgraded, Now Confused

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 …