Financial Crisis and Merger
After heavy losses due to the real estate crash, Fidelity negotiated an acquisition of its second largest competitor, LandAmerica Financial Group, which was approved in December, 2008. Soon after Fidelity acquired LoanCare Servicing Center Inc., a leading provider of mortgage servicing and once a wholly owned subsidy of LandAmerica Financial Group.
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Famous quotes containing the words financial and/or crisis:
“Creditor. One of a tribe of savages dwelling beyond the Financial Straits and dreaded for their desolating incursions.”
—Ambrose Bierce (1842–1914)
“The change from storm and winter to serene and mild weather, from dark and sluggish hours to bright and elastic ones, is a memorable crisis which all things proclaim. It is seemingly instantaneous at last.”
—Henry David Thoreau (1817–1862)