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)
“I know my fate. One day my name will be tied to the memory of something monstrous—a crisis without equal on earth, the most profound collision of conscience, a decision invoked against everything that had previously been believed, demanded, sanctified. I am no man, I am dynamite!”
—Friedrich Nietzsche (1844–1900)