BNET Industries
Washington Mutual Inc. (WM) is in the Financial Services Industry
- Revenue
- Dec 31 2007
- $25.5B
- Profit
- Dec 31 2007
- ($67.0M)
- Market Cap
- Jul 02 2008
- $5.6B
Latest News and Analysis
Getting It Wrong: Analysts Contribute to the Current Downturn
Zacks.com submits: Incorrect forecasts by brokerage analysts are contributing to the current downturn in the equity markets. Energy, finance and technology are the three biggest components of the large-cap index, and analysts have been constantly revising their estimates on oil and banking companies. Last week's miss by Research...
FAS 157: Blackstone and Its Banker Buddies Have It Wrong
Roger Ehrenberg submits: There have been some rumblings over the past several months about accounting rules being a key contributor to the banking sector meltdown, and I've let it slide. But now that Steve Schwartzman and Tony James of Blackstone BX have publicly stated their views that FAS 157...
S&P 500 Stocks Furthest Above and Below Their 50-Day Moving Averages
Hickey and Walters Bespoke submit: Below we highlight stocks in the S&P 500 that are currently trading the furthest above and below their 50-day moving averages. As shown, Massey Energy MEE is the furthest above its 50-day in the index at 39.47%. MEE is also the best performing...
The Fed Is Banking on Hedge Funds, But Merrill Lynch Can't
Michael Steinberg submits: The Wall Street Journal's “Fed May Give Private Equity More Leeway to Help Banks” reports that Federal Reserve officials have met with J.C. Flowers, Carlyle Group, Kohlberg Kravis Roberts and Warburg Pincus. Not unknown to panic, Bernanke’s Fed now wants to encourage private equity to play a...
Writedowns and Capital Raised by Financial Firms
Hickey and Walters Bespoke submit: From data compiled by Bloomberg, financial firms have now written down $399 billion, with much more expected in the coming weeks. On the flip side, they have raised a total of $322 billion in new capital. Below we highlight the writedowns...
The Current Market Atmosphere: Easy Money Hard to Come by
Mike Stathis submits: You've all probably seen or heard about the recently released Harvard Housing study. Among other things, the report discusses the fact that the median wage-earner is unable to afford the median priced home and forecasts a drop in real estate prices to the 1999 level. The fact...
U.S. Bank Dividend Yields Revisited
The Sun submits: Last November, shortly after the Dow peaked at 14,280 points, I had a post on dividend yields of the largest banks in the country. At that time, I thought that, with many bank stocks yielding 6.0% or more, buying banks made some sense if the banks...
WaMu May Avoid More Capital Raise: Bove
(Reuters) - Washington Mutual Inc WM may be able to withstand estimated losses of $36 billion and remain in business, and avoid an additional capital raise, said Ladenburg Thalmann analyst Richard Bove, who narrowed his 2008 loss forecast for the thrift....
WaMu May Face $30 Bln Credit Losses Through 2011: Lehman
(Reuters) - Washington Mutual Inc WM may set aside as much as $30 billion for credit losses through 2011, according to Lehman Brothers Inc analyst Bruce Harting, who increased his forecast for losses this year at the largest U.S. savings and ...
Analysts Slash U.S. Bank Estimates More as Credit Worsens
By Neha Singh and Tenzin Pema BANGALORE (Reuters) - It's not just banks that have persistently underestimated the scope of the credit crisis afflicting them. So have the Wall Street analysts paid to warn their clients what to expect. Since the start of...
Banks Are Failing, So They Are Changing the Rules
Andrew Horowitz submits: The Wall Street Journal is telling us that there is a new game being played by banks to help make their book of businesses “look” better. It is a desperate move but the problem is the lack of regulation that continues to allow for this latest...
Washington Mutual Cuts 1,200 Jobs After Big Losses
By Jonathan Stempel BANGALORE (Reuters) - Washington Mutual Inc WM said on Thursday it eliminated 1,200 jobs, following mortgage losses that some analysts have said will keep the largest U.S. savings and loan from turning a profit before 2010. The cuts affect roughly...
White House Pushes Mortgage 'Covered Bonds'
Michael Steinberg submits:In “U.S. Pushes a European Method To Help Banks Make Home Loans”, the WSJ reports that Treasury Secretary Paulson, Federal Reserve Chairman Bernanke and FDIC Chairwoman Bair are spearheading the effort to create a legal and regulatory framework for mortgage covered bonds. In the simplest terms, FDIC insured...
Why John Paulson Is Still Bearish On Financials [Housing Tracker]
Link of the Day “Ninety per cent of the mortgage market is supported by two private companies losing vast sums of money operating with no equity.” Hedge fund manager John Paulson, on why he’s pessimistic about Fannie Mae and Freddie.Mac. (Financial Times, June 18th) by SA Editor Judy Weil
Don?t Buy What Wall Street Is Selling
Martin Hutchinson submits: Imagine that you’re the investment director for one of the new sovereign wealth funds SWFs. A very important guy - you get to invest several hundred billion dollars, with far fewer committees and shareholder interest groups harassing you than if you're the head of ...
U.S. Banks May Need $65 Bln New Capital: Goldman
By Jonathan Stempel BANGALORE (Reuters) - U.S. banks may need to raise $65 billion of additional capital to cope with mounting losses from a global credit crisis that will not peak until 2009, Goldman Sachs & Co GS analysts said on Tuesday. The...
WaMu's Atrocious Mortgage Servicing
Felix Salmon submits: You know that if you're running into problems with your mortgage you should contact your servicer, right? Well, best hope your servicer isn't WaMu: by Felix Salmon
New Lender Guidelines To Help Struggling Homeowners
Ron Haruni submits: Blindsided by the number of loans that have already gone bad, top mortgage lenders - according to a WSJ report - have reached a major agreement on new guidelines to improve and speed up the industry’s voluntary efforts to help struggling homeowners. While lax lending policies have...
KeyCorp Raises $1.65 Bln After Shares Plunge
By Jonathan Stempel BANGALORE (Reuters) - KeyCorp KEY, a large U.S. Midwest regional bank, said on Friday it raised $1.65 billion, 10 percent more than planned, from offerings of common stock and preferred shares to bolster its capital base. A day earlier KeyCorp...
WaMu Denies Regulatory Move Rumors as Shares Fall
NEW YORK (Reuters) - Washington Mutual Inc WM on Wednesday denied what it called market rumors about regulatory activity after the shares fell more than 9 percent to a 16-year low. "Neither our primary federal regulator, the OTS, nor any other...
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- Incorporated: 1994
- CEO: Mr. Kerry K. Killinger
Washington Mutual is a thrift holding company providing financial services to consumers and small businesses. Co. has four operating segments for management reporting purposes: the Retail Banking Group, which as of Dec 31 2007, operated a retail bank network of 2,257 stores across 15 states throughout the U.S.; the Card Services Group, which operates a nationwide credit card lending business; the Commercial Group, which conducts a multi-family and commercial real estate lending business in certain markets; as well as the Home Loans Group, which engages in single-family residential real estate lending, servicing and capital markets activities.
Key Competitors
Washington Mutual Inc. Company Info
Board of Directors
Mr. Kerry K. Killinger
Chairman
Mr. Charles M. Lillis
Mrs. Regina T. Montoya
Ms. Margaret Osmer McQuade
Mr. Orin C. Smith
Mr. Stephen E. Frank
Mr. Stephen I. Chazen
Mr. Thomas C. Leppert
Mr. Phillip D. Matthews
Mr. Michael K. Murphy
Mr. William G. Reed Jr.
Mr. James H. Stever
Mr. David Bonderman
Contact Information
1201 Third Avenue
Seattle, WA
206 461-2000
NAICS Code
Savings Institutions: 522120Brought to you by IBMSponsored Resources
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