Tag Archives: E*Trade
CollegeHumor Parodies E*Trade Baby and DJIA Drop [VIDEO]
CollegeHumor.com has done a great parody of the E-Trade baby while creating humor in the Dow Jones Industrial Average stock drop. Check out the video below:
Categories CollegeHumor, Dow Jones & Company Inc., E*Trade
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Former Citigroup Exec Steven Freiberg Becomes CEO Of E*TRADE
E*TRADE Financial Corporation (NASDAQ: ETFC) has hired former Citigroup executive Steven Freiberg as the new CEO. Freiberg worked at Citigroup for about 30 years. He was most recently the Co-Chairman and Co-CEO of Citigroup’s Global Consumer Group. Below is the full press release:
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Categories Citigroup, Citigroup Inc., E*Trade, Steven Freiberg
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Lindsay Lohan Suing E*Trade For $100 Million
Lindsay Lohan is suing E*Trade over a Super Bowl commercial where babies are chatting over a computer. One of the babies refers to his friend as “that milkaholic Lindsay.” Now The New York Post is reporting that Lohan is suing E*Trade for $50 million in exemplary damages and $50 million in compensatory damages for using her “name and characterization.” Lohan’s lawyer Stephanie Ovadia told The New York Post that “Many celebrities are known by one name only, and E-Trade is using that knowledge to profit.” [New York Post]
Categories E*Trade, Lindsay Lohan
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E*TRADE Swaps $1.8 Billion In Debt For New Convertible Bonds
E*TRADE Financial Corporation (NASDAQ:ETFC) has successfully completed a debt exchange offer. E*TRADE received a commitment from creditors to swap $1.8 billion in debt for convertible bonds.
The conversion was accepted for the following reasons:
- The new bonds do not bear interest as zero coupons. Class A debentures can be converted into E*Trade’s stock at a rate of $1.034 per share.
- E*Trade’s largest shareholder Citadel had already commited to the deal which encouraged other investors.
- Creditors realized that because there are greater capital requirements on the horizon, this would be a good way to keep E*TRADE from buckling down their services.
E*TRADE is struggling to keep up the competition with Ameritrade and Charles Schwab. E*TRADE will be posting another loss this year. E*TRADE has applications built on the iTunes App Store and BlackBerry App World.
[via Fool.com]
Categories E*Trade
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E*TRADE Subsidiaries Fined $1 Million
E TRADE Financial Corporation (NASDAQ:ETFC) was fined about $1 million for having inadequate procedures in handling trades that might be used for money laundering. Between January 2003 and May 2007, two of E*Trade’s units E*Trade Securities and E*Trade Clearing were the ones involved.
E*Trade analysts and employees manually checked for suspicious trades, but the company did not give them automated tools. This was the second fine against E*Trade within the last 6 months. Last July, E*Trade agreed to pay $1 million to settle claims made by the U.S. Securities and Exchange Commission for violating the Patriot Act’s money-laundering clauses. The identities of 65,000 customers were not properly identified.
“E*Trade upgraded its systems to provide an automated method to monitor for this particular activity, and those systems have been in place for over a year,” stated E*Trade spokeswoman Pamela Erickson.
[via Bloomberg]