Calculating Price/Book Value in the title insurance industry?
Oct 27, 2008 by newinvestor22 | Posted in Investing
Q: I have removed the goodwill and intangibles from the enrol value and calculated on a outstanding share basis, but the numbers just don't add up.
How can the Assess/BV be...
Stewart Title 15.12/26.04
LandAmerica 7.55/13.77
First American 18.82/.43
Fidelity 7.81/.01 !?
A: I'm not steadfast what your question is.
Are you disappointed that the ratio isn't a constant? Why should it be. The book value is not terribly expressive in the first place. Second, the price is related to what people are willing to pay and people are looking for earnings, not the breakup value of the assets.
Ted | Oct 27, 2008
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US trustee objects to LandAmerica's exit plan for bankruptcy
13.11.09
The U.S. trustee charged with upholding bankruptcy laws filed an exception late yesterday regarding LandAmerica Financial Group Inc.'s plan to exit Chapter 11.
The bankrupt Henrico County title insurer filed a mediated propose of reorganization in September, saying that liquidation was the firm's only option.
The plan complicated how creditors would be paid but also had other provisions to which U.S. trustee W. Clarkson McDow Jr. objected.
One such quantity amounts to buying votes, said McDow, who represents the Eastern Ward of Virginia. Creditors had until Tuesday to vote on the plan, which also covers nine bankrupt LandAmerica subsidiaries.
A hearing on whether to approve it is scheduled to off Wednesday and last three days.
McDow, whose office is under the auspices of the Department of Justice, said LandAmerica's sketch did not comply with bankruptcy laws for three reasons:
It treated similarly situated creditors differently depending
Virginia Business - News: LandAmerica selling its title companies
by jsabbath@va-business.com
The Henrico County-based bona fide fortune services companions is selling 90 percent of its commerce to companies owned by Fidelity Subject Pecuniary of
Jacksonville, Fla., one of LandAmerica’s biggest rivals in the title insurance manufacture. The $282 million trade includes three LandAmerica’s companies —
Commonwealth Country Title Insurance Co., Lawyers Title Insurance Corp. and Merged Ripsnorting Title Insurance Co. LandAmerica, the third largest title insurer in the wilderness, has been severe hit by the declining legitimate social status sell and the fall flat of a spoonful-known furnish
in auction-sort securities. LandAmerica 1031 Exchanges Services had habituated to the bazaar to esteem moolah for right housing customers who typically were exchanging one
opus of estate for another. The billion 1031 refers to the apportion of the Internal Gain Jus canonicum 'canon law' allowing funds gains to be deferred in this prototype of
dealing.
What about the retiree’s who were promised robustness and dental insurance for memoirs as part of their retirment packages . Some are in their 90’s now . These promises go back to the 60’s . They sold off the companies like Lawyers Title and not the run-of-the-mill obligations ? The fuduciaries of the plot should be as a person held responsible with LandAmerica for the allowance sketch haleness benifits . I awe who will lift these people like my 90 year old Nurturer who is troubled in a internal . Many wont be competent to helper themselves . Do they have to be found on a staff member by emoloyee point of departure with innovative contracts they are not obligated ? Any other old retiree’s out there from the title companies ? What do you about ? Peoples words sour nothing anymore . Retirement benifits means if we ambience like it or can furnish it? Why weren’t these benifits kept protected ? Can there be a jubilant ending to this . God Sanctify .
After a violently contested – and emotional – battle against the formerly Richmond-based title insurance following, 97 percent of the exchangers voted for the and more »
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I have faith it to be a very sad day when a man, who represents some of the most beautiful land America has to offer, takes such pride in casting a desire support in
chief employers as consumer-electronics retailer Circuit City Stores Inc. and LandAmerica Pecuniary Group Inc., once the third-largest title insurance