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:
“The woman who does her job for society inside the four walls of her home must not be considered by her husband or anyone else an economic “dependent,” reaching out her hands in mendicant fashion for financial help.”
—Mary Barnett Gilson (1877–?)
“When you give power to an executive you do not know who will be filling that position when the time of crisis comes.”
—Ernest Hemingway (1899–1961)