MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Monday, September 17, 2001 Wall Street Reopens Cantor Fitzgerald, which occupied the 101st to 105th floors of 1 World Trade Center, has set up a Web site for those seeking information. The site is CantorUSA.com. The site includes a list of safe employees and other information. The firm has also set up a crisis center at The Plaza Hotel's Grand Ballroom at 59th Street and Fifth Avenue in New York City. * * * Investors Financial Services (Nasdaq: IFIN) reports that all its systems are fully operational and that client assets and records are safe. "We are deeply saddened by the tragic events of September 11th, and join with all people in grieving for the lives lost," stated Kevin J. Sheehan, chairman and chief executive officer. "Despite the close proximity of our New York office to Ground Zero, we are happy to report that our staff was unharmed. We activated our business resumption plan in both Boston and New York and moved all processing to redundant sites where it continued without interruption." * * * Gabelli Asset Management (NYSE: GBL is one of a number of companies to announce a stock buyback as the markets reopen in wake of last week's disaster. Gabelli's board authorized the repurchase of up to $10 million of its common stock. That figure includes $3.1 million which was unexpended under its current stock buyback program. The stock was down a little more than one percent in early trading. * * * Sadly, Aon reports that it has not yet accounted for about 200 employees who were in New York City last Tuesday. Altogether, the insurance brokerage had 1,100 employees located in floors 92 and 98-105 of Two World Trade Center and another 250 in the city on business. Aon has set up counseling and support areas throughout the New York region, including The Plaza Hotel in Manhattan, the Hyatt Regency Greenwich in Greenwich, Connecticut, the Sheraton Hotel Parsippany in Parsippany, New Jersey, the Harrison Conference Center in Glen Cove, New York and the New York Marriott in Brooklyn, New York. It will also hold an interfaith prayer service next Monday, September 24 at 10:00 a.m. at St. Patrick's Cathedral at 50th Street and Fifth Avenue in Manhattan as well as a similar service in Chicago on Tuesday, September 25. * * * Neuberger Berman (NYSE: NEU), says it is fully operational. "We are stunned and outraged by the horrific acts of terrorism against the American people and our financial system. On a very personal level, we are terribly saddened by the devastating loss of life, and our hearts go out to all the victims and their families," said Jeffrey B. Lane, Neuberger Berman president and ceo. "No Neuberger Berman employees were physically injured from the destruction of the World Trade Center; however, all were impacted by these terrible events," he added. * * * Mutual fund firms are preparing for more than the usual number of phone calls from shareholders when the markets reopen today, reports the Wall Street Journal. The increase is expected despite a plummet in calls last week. Calls to T. Rowe Price were off more than 40 percent, an experience in line with that of other fund firms. Fund executives interviewed by the paper said they are adding call center staff and anticipating an increase of up to 25 percent in volume. * * * Franklin Resources reports that its assets under management grew to $264.3 billion for the month ended August 31, 2001 from $236.3 billion in the same month a year ago. That amount represents a slip from $266.6 billion at the end of July. Printed from: MFWire.com/story.asp?s=26884 Copyright 2001, InvestmentWires, Inc. All Rights Reserved |