Financial Services

Jan 20, 2011

MassMutual-Sage opens Emmett office

MassMutual Financial Group dba Sage Wealth Management opened an office this month at 2005 E. Quail Run Road, Emmett. A grand opening was held Jan. 19. Jeremiah Vickery and Justin Walker manage the office, which occupies 1,500 square feet. Janet Peters is office administrator. All live in Emmett. Vickery said the managers like the Emmett market's prospects and plan to add four to five agents [...]

Jan 14, 2011

Bankruptcies rise more modestly in 2010

Bankruptcy attorney Jon Wilson remains busy. "We have seen, over the past three years, bankruptcies continue to increase due to the difficult financial times," said Wilson, who owns Ada Bankruptcy Service and Wilson Law Offices in Boise. Idaho bankruptcy filings grew by a modest 8 percent in 2010, according to statistics from U.S. District Court in Boise. That compared to jumps of 45 percent[...]

Jan 11, 2011

Blackfoot native named to SLC Fed Branch

[caption id="attachment_36711" align="alignleft" width="190" caption="Albert Wada"][/caption] Blackfoot native Albert T. Wada will sit on the Federal Reserve Bank of San Francisco as a director of the Salt Lake City Branch. Wada will replace Park City, Utah, resident Annette Herman Harder on the seven-member board. Wada, of Pingree, began farming in 1970 on 400 acres of farmland. Over the[...]

Jan 7, 2011

SJC rules against banks on mortgage assignments

Tom Egan The Supreme Judicial Court has upheld a Land Court judge's decision in U.S. Bank v. Ibanez invalidating foreclosure sales conducted by two plaintiff banks to which mortgages had been assigned. "We agree with the judge that the plaintiffs, who were not the original mortgagees, failed to make the required showing that they were the holders of the mortgages at the time of foreclosure,"[...]

Dec 29, 2010

Swiss bank objects to Tamarack offer

UPDATED: A Swiss bank-led lender group owed hundreds of millions by Tamarack Resort has raised objections to a proposal to sell the vacation development to an Idaho investment company. However, it may not impact prospective buyer Green Valley Holdings from continuing to move forward with its attempt to purchase the troubled ski resort. In court documents filed Dec. 28, the Associated Press r[...]

Dec 24, 2010

Changes to Idaho pension plan could be debated

A central Idaho lawmaker says changes to the Public Employee Retirement System of Idaho could be debated in the approaching Legislative session. House Majority Caucus Chairman Ken Roberts of Donnelly, a Republican, says there has been a lot of discussion because of potential liability facing taxpayers due to possible poor investment returns. He tells the Lewiston Tribune the potential change[...]

Dec 21, 2010

Boise’s Wiskirchen to direct Federal Reserve Bank in Salt Lake City

Brad WiskirchenBrad Wiskirchen, CEO of the Boise-based Keynetics, has been named a director of the Federal Reserve Bank of San Francisco. Wiskirchen will direct the bank's Salt Lake City branch, replacing former St. Luke's Health System CEO Edwin E. Dahlberg, who is retiring from the branch's board. The Federal Reserve is the nation's central bank. It formulates monetary policy, serves as[...]

Dec 21, 2010

AEHI executives take leave until court rules

Two executives have taken a leave of absence from Alternate Energy Holdings Inc. while a court considers allegations of investor fraud against the company trying to build a $10 billion nuclear power plant. CEO Don Gillispie and Vice President Jennifer Ransom are on voluntary leave until a court rules on the validity of allegations by the Securities and Exchange Commission, AEHI said in a releas[...]

Dec 14, 2010

SEC suspends trades of Alternate Energy securities

The Securities and Exchange Commission has temporarily suspended trading of securities of Alternative Energy Holdings, Inc., an Idaho company that wants to build a nuclear reactor. The federal securities regulator took the steps in part due to questions it has "about the accuracy and adequacy of publicly disseminated information concerning ... the stock sales of certain AEHI officers." The S[...]

Dec 13, 2010

Green ventures don’t get better bank terms

[caption id="attachment_35164" align="alignleft" width="300" caption="Lindsay Schramm, co-owner of North End Organic Nursery in Boise, said banks didn’t come through because they were a “green project,” but through good old-fashioned credit. (Photo by Laurie Pearman)"][/caption] Being sustainable and "green" did not help North End Organic Nursery when owners sought start-up construction [...]

Nov 19, 2010

Wells to pay Citi $100M to settle Wachovia lawsuit

Wells Fargo & Co. has agreed to pay $100 million to Citigroup Inc. to settle a dispute related to its acquisition of Wachovia Corp. in October 2008, at the height of the financial crisis. Wachovia was teetering on the brink of collapse from bad real estate loans when it initially agreed to be bought by Citigroup in a deal supported by the U.S. government. Days later, Wells Fargo swooped in [...]

Nov 17, 2010

SBA loan volume holds up after September spike

After a September surge in U.S. Small Business Administration loan volume, officials in SBA's Boise district did not know what to expect in October, spokesman Larry Demirelli said. "The spike in September was the direct result of the funding of loans that were in the queue since end of May in anticipation of the availability of additional funds," SBA Boise District Office Director Norm Proctor [...]