Credit Card Companies, Business & Student Lenders: Howard Shapiro, Fox-Pitt Kelton Cochran Carolina Waller (USA) LLC
CEO Interviews (average 2,500 words): Top management from 2 sector firms examine the outlook for their firm and sector. Firms interviewed include: American Capital Partners Ltd., Inc., Xceed Mortgage Corporation.
Topics covered: The funding side - The credit side - Increasing charge-off rates in 2008 - Stocks priced in a recession - Gradual recovery - Consolidation to increase in the sector - Credit risk - Substantial declines in share prices - Consumer and commercial finance lenders - Student lenders - Auto finance companies - Credit card companies - Debt recovery companies - Credit deterioration - Cautious investors - Companies have adjusted underwriting standards - Raising fees and rates - Unemployment - Compressed valuations - Viable franchises - Stabilization in delinquency rates - Housing sales pick up