| Bump or Bust for MBA Jobs?
It's turning into a nervous 2008 for soon-to-be MBAs. Many of the large financial institutions that business school students typically turn to for summer internships and job offers have posted large mortgage-related losses and announced layoffs in the past few weeks. Just last week, for instance, Bank of America (BAC) announced it would cut an additional 650 corporate and investment banking jobs, while Citigroup (C) said it planned to cut 4,200 jobs globally. Suddenly, the employment outlook is looking a bit more turbulent. Up to now, the academic year has been good for MBA student job-seekers. Recruiters haven't stopped coming to campus to interview for summer internship jobs, career services officers said. Meanwhile, second-year students looking for full-time jobs appear to be doing as well as, if not better than, their counterparts last year, with many schools reporting increased recruiting, more job offers, and higher salaries for this year's grads.
MMA Renewable Ventures and 3 Phases Energy Services Deliver Innovative ...
(CSRwire) San Francisco, Calif. -- Fetzer Vineyards will place the wine industry's largest solar array atop its winery bottling facility in Hopland, generating 1.1 million kilowatt hours of clean electricity annually, enough to offset more than 960,000 pounds of carbon dioxide (CO2) emissions, the equivalent of taking approximately 80 cars off the road for a year or planting 130 acres of trees. This is the second solar installation at the Mendocino County winery. Since 1999, most of the energy needed for a 10,000 sq ft Administration building has been generated by roof-top photovoltaic panels. 3 Phases Energy Services LLC and MMA Renewable Ventures LLC, a subsidiary of Municipal Mortgage & Equity LLC also known as MuniMae (NYSE: MMA), are leading the collaborative effort to develop the Fetzer solar project.
Rural homes foreclosed, but not near number of urban, suburban home ...
Foreclosures, which have roiled housing markets across the state and the nation, have had a smaller impact in Pennsylvania's rural communities, where subprime loans were rare and lenders and borrowers work hard to avoid defaults. "Because of the nature of the rural buyer, they tend to be more conservative in how much debt they carry," said Dan Duffy, chief executive officer of United Country Real Estate in Kansas City, Mo., one of the largest rural real estate agencies in the United States. Also, lenders who specialize in serving rural communities keep most of those mortgages on their own books rather than sell them on the secondary market. Thus, they will go to greater lengths to help property owners avoid foreclosure. For the most part, the lenders tend to be small outfits, often nonprofit organizations with relatively few accounts.
Wall St braced for $10bn more credit crunch hits
Major banks on both sides of the Atlantic are braced for more heavy losses this year because of their exposure to the deepening subprime and credit crisis. In the UK banks including Barclays, Royal Bank of Scotland and HSBC are facing "major trading losses". In the US, large major banks and brokerages will suffer additional writedowns of more than $10 billion in the fourth quarter as deteriorating credit trends continue to undercut the value of subprime mortgages and related securities Analysts at Goldman Sachs predicted today that profits at Barclays Capital, the UK bank's debt focused investment bank, will tumble 40 per cent year-on-year to just £583 million in the second half. .
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