Friday, December 19, 2008
roller coaster ride over...Fidelity purchase approved
Dec 19 (Reuters) - Fidelity National Financial Inc (FNF.N: Quote, Profile, Research, Stock Buzz) said it received approval under the Hart Scott Rodino Act for the purchase of two underwriting units from bankrupt title insurer, LandAmerica Financial Group Inc (LFGRQ.PK: Quote, Profile, Research, Stock Buzz). Read more...
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3 comments:
I have just caught wind of what is going on in Ohio with the independent agents. Good for you.
They started moving in on independents in Florida through the Licensing Regulations with Underwriter approval on amounts of E&O Coverage required. Then the Big Underwriters started eating the Small ones, then the Agents.
I had my life threatened by an IRS Agent who said a crooked preacher partner of mine in another project was a bad man and they were doing an investigation on him and the IRS Agent in charge and the confidential informant had "turned up missing". I met him at a White Western Mens Club meeting and he showed up the next day to do my first audit ever in 10 years.
On the morning of the day we were scheduled to close on the sale of the Title Company assets to a Chicago Title Agent for a contract price of $235K, the competitor said he was not going to give that, but would give $10K. Just minutes after I threw him out of our office the same IRS Agent showed up and said he needed to run another audit and said we owed $8K in taxes and tried to coerce us into selling when the competitor returned and that was extortion. We offered $5K that day and $3K in two days and he said: "ALL OR NONE!"
They put the padlocks on the door that day while I was in my crooked attorney's office.
Chicago Title/Fidelity is now in our Building.
We filed a Racketeering Suit and days after it was served by the Marshals, the IRS Agent was found DEAD. We never got a hearing until the 11th Circuit Court of Appeals. The Federal Judiciary denied our first two complaints on behalf of the Corporation and the Company saying an individual could not stand for a Corporation, but years later required an individual to stand for his corportation so they could charge him with contempt for not wanting to mediate. Our Bankruptcy Petition was turned down at the door by the clerk on the same grounds.
This is just part of the cause and effect of an unbridled system of banking and insurance.
Good luck.
Well, there's a kinda disjointed interesting story.
Disjointed...maybe...but true.
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