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Strategies & Market Trends : Calls and Puts for Income

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To: pcyhuang who wrote (1099)	8/2/2007 3:46:19 PM
From: kaka	Read Replies (1) of 5891

( i can not vouch for the reliability of this story ) American Home Mortage closing tomorrow BY DANIEL WAGNER \| daniel.wagner@newsday.com 3:23 PM EDT, August 2, 2007 American Home Mortgage Investment Corp. will be closing its doors Friday, after several attempts to sell of all or some of its divisions to rival lenders went up in smoke this week, numerous employees said. Employees said they were contacted by senior management through the course of the day and told that none of their strategic options for remaining open had panned out. Just after 3 p.m., company founder Michael Strauss sent an email to employees saying, "American Home Mortgage has been forced to close." It said tomorrow would be their final day of employment. Employees expressed frustration with the secrecy of this week's process, and with upper management's decision not to disclose any information about the company's status until the bankruptcy was announced earlier today.

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