When pensions run dry...
- Thread starter brett636
- Start date
klein
Für Meno :)
LandAmerica Financial Group, Inc. was the third largest title insurance group in the US.
It was headquartered in Glen Allen, Virginia.
The company operated primarily in three segments: Title Insurance, Lender Services, and Financial Services.
The Financial Services segment engaged in originating and purchasing of commercial real estate loans in the southern California market, as well as soliciting deposits through certificates of deposit and passbook savings accounts.
The company provided its services to lenders, developers, real estate agents, attorneys, and property buyers and sellers. It served residential and commercial customers with approximately 1,000 offices and a network of over 10,000 agents throughout the United States, Mexico, Canada, the Caribbean, Latin America, and Europe.
more: http://en.wikipedia.org/wiki/LandAmerica
It was headquartered in Glen Allen, Virginia.
The company operated primarily in three segments: Title Insurance, Lender Services, and Financial Services.
The Financial Services segment engaged in originating and purchasing of commercial real estate loans in the southern California market, as well as soliciting deposits through certificates of deposit and passbook savings accounts.
The company provided its services to lenders, developers, real estate agents, attorneys, and property buyers and sellers. It served residential and commercial customers with approximately 1,000 offices and a network of over 10,000 agents throughout the United States, Mexico, Canada, the Caribbean, Latin America, and Europe.
more: http://en.wikipedia.org/wiki/LandAmerica
moreluck
golden ticket member
In my 63 years of life, I have never heard that name before......that includes midwest, west and west coast!!
If you say Allstate...I heard of it.
Farmers..I heard of it.
Aetna, I heard of it.
State Farm, I heard of it.
Aflac, I heard of it.
Mercury, I heard of it.
Progressive, I heard of it.
Blue Cross, I heard of it.
The Hartford, I heard of it.
Blue Shield, I heard of it.
Travelers, I heard of it.
Geico, I heard of it.
AIG, I heard of it.
SafeCo, I heard of it.
etc
etc
etc
You would think that any ins. co that's suppose to be big......I would've at least heard of it.
If you say Allstate...I heard of it.
Farmers..I heard of it.
Aetna, I heard of it.
State Farm, I heard of it.
Aflac, I heard of it.
Mercury, I heard of it.
Progressive, I heard of it.
Blue Cross, I heard of it.
The Hartford, I heard of it.
Blue Shield, I heard of it.
Travelers, I heard of it.
Geico, I heard of it.
AIG, I heard of it.
SafeCo, I heard of it.
etc
etc
etc
You would think that any ins. co that's suppose to be big......I would've at least heard of it.
wkmac
Well-Known Member
More,
The reason you probably never heard of them was that Land America writes real estate title insurance policies and the only time a company like that would matter is when you purchase real estate and you want to insure that the title is clean. All financial institutions require title insurance in the loan process mostly to protect the lender but most loans never have a problem when a good title search is performed prior to transfer of the real estate. If a claim is on the property and was missed, title insurance satisfies that claim while loanee and lender continue in a clean status. They mostly exist to the benefit of the lender and some lenders specify to a closing attorney from whom a policy is to be issued but most are OK with any number of companies that offer this service.
Companies like Land America are in trouble because if so few homes are being sold, so few loans generated, I'd say not many title policies are being written either. Now what this type of insurance has to do specifically to the topic of retirement, I'll let others here debate but hope this helps to explain why you and the vast majority of Americans never hear of companies like this. The only reason I know is that my wife's law firm also handles real estate law and I happen to know of several of these companies by name.
Hope this clears up why you've never heard of them and most likely never will.
wkmac
Well-Known Member
Really! I'm a little surprised at that statement to be honest but I do agree most Americans never heard of AIG by name until the baloon went up. And my surprise should not be taken as insult but rather I just assumed by some comments in the past that you had a broader awareness that AIG for example was just a given. Could say I thought you were more well read and broader aware than that.
Oh well!
BTW: In this day and age you should be!
UpstateNYUPSer(Ret)
Well-Known Member
bbsam is too busy expanding his empire at the expense of his indentured servants.
wkmac
Well-Known Member
From a certain POV, that is a true statement although I'm sure bbsam from his POV would very much disagree! But then in fairness to him, his counterparts on the otherside of political theater are doing the same thing so therein lay the delemma for all.
Babagounj
Strength through joy
(WSJ)- Nearly 100 U.S. banks that got bailout funds from the federal government show signs they are in jeopardy of failing.
The 98 banks in shaky condition got more than $4.2 billion in infusions from the Treasury Department under the Troubled Asset Relief Program. …
The FDIC’s official list of problem banks includes 860 financial institutions.
The 98 banks in shaky condition got more than $4.2 billion in infusions from the Treasury Department under the Troubled Asset Relief Program. …
The FDIC’s official list of problem banks includes 860 financial institutions.
wkmac
Well-Known Member
Just an aside since it was mentioned and seems to be of some limited debate here, like banking, the insurance industry is not required nor do they maintain 100% reserves to answer all full face value policy claims. Like banks, there is a reserve requirement typically in the 10% to 12% of all policies written. Also using the Allstate example given earlier and taking that to all policies, if you total the full face value of all policies written across the entire industry, even if the assets existed in hand, there is not enough currency in total circulation to even allow such assets to convert in the first place nor is there even that much money on hand or even as pure book entry to satisfy such massive claims. However, at the same time, the chance of such massive claims being made are so remote, we'd have far greater problems than asset conversion if such scenario did happen.
I am not at all offened. In fact in my warped mind I take it as a compliment. Though I probably should have been better informed (along with the majority of my fellow countrymen) I had little care for such happenings. But I will take your statement to suggest that I am a fairly quick study in contrast and comparison and finding similarities of concepts. As far as Upstate's comment, I don't find that insulting either. Everyone is in fact entitled to his or her opinion and though some take issue with Ground's business model, it is what it is and having a problem with it is having a problem with what is at worst a legal and profitable structure within United States commerce.
wkmac
Well-Known Member
I am not at all offened. In fact in my warped mind I take it as a compliment. Though I probably should have been better informed (along with the majority of my fellow countrymen) Agreed, "WE" should have all been better informed and minding the store. I had little care for such happenings. But I will take your statement to suggest that I am a fairly quick study in contrast and comparison and finding similarities of concepts. Never too late for any of us to start and better late than never at all. Besides, scares theout of the plutocracy the more people do start looking and especially talking with one another. Very bad for them! As far as Upstate's comment, I don't find that insulting either. Everyone is in fact entitled to his or her opinion and though some take issue with Ground's business model, it is what it is and having a problem with it is having a problem with what is at worst a legal and profitable structure within United States commerce.
As for Upstate, I'm still wondering if he and Moreluck are actually sleeping with each other on the side and just pretending so people won't catch on!
UpstateNYUPSer(Ret)
Well-Known Member
As for Upstate, I'm still wondering if he and Moreluck are actually sleeping with each other on the side and just pretending so people won't catch on!
There's not enough beer in Colorado...
