Standard & Poor’s had downgraded 15 classes of bonds backed by a $425 million loan secured against the Four Seasons Hotel in New York and 3 other luxury resort hotels. The action was triggered by a drop in cash flow which was 46% below S&P expectations. Surely, the expected cash flow figure had already been [...]
Oct
01
Calls From Appraisers Increasing – Banks Clearly Worried About Losses
Lately I have been receiving a high volume of calls from appraisers. Appraiser calls are nothing new. Normally, I receive a handful a month calling to ask questions about properties I have sold or asking for my opinion on a particular property they are trying to value. Now, I am receiving several appraisal calls per [...]
Mar
24
World’s Safest Banks
The embedded document below shows the 50 safest/strongest banks in the world as analyzed by Global Finance. There are only 4 U.S. based banks on the list (Wells Fargo: #21; US Bancorp: #26; The Bank of New York Mellon: #35; and JPMorgan Chase: #47). Bank of America is notably absent from the list. European banks [...]