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Non-Tech : BCOM, Great earnings, and a 2 for 1 split .
BCOM 2.160+3.3%Nov 16 4:00 PM EST
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To: Tadsamillionaire who wrote (74)3/6/1998 11:57:00 AM
From: Tulvio Durand  Read Replies (2) of 182
 
BCOM's expansion announcement received page 1 business news coverage in today's San Diego Union Tribune. Interesting tidbits from the story written by Dean Calbreath: (my paraphrasing) Now 4th largest SBA lender, BCOM's chief competitors are The Money Store, AT&T and Heller Financial Services. BCOM CEO Peter Davis said he hopes to take advantage of disruption among the top SBA lenders, which are going through wrenching management changes. His chief target is The Money Store, the nation's largest SBA lender, which is being bought by First Union Corp for $2.1 billion. Davis has hired a head hunter to raid TMS's SBA-loan staff. Davis has hired Emerson Hall, who formerly headed GE Capital Funding's SBA operations in Texas, to spearhead BCOM's expansion to Texas, Illinois and Georgia -- the nation's top SBA markets after CA and NY. "Analysts say that BCOM's expansion plans make sense, especially since Congress recently authorized an additional $11 billion for SBA loans." BCOM's 1977 lending volume of $178 million represents a mere 2% of SBA's total annual funding. The latter, by my calculation, would be $8.9 billion. This funding level will more than double to about $20 billion with the additional funding recently authorized. This should bode well for BCOM's business expansion plans. Tulvio
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