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Strategies & Market Trends : Joe Copia's daytrades/investments and thoughts

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To: Shoot1st who wrote (8459)	10/12/1998 9:22:00 AM
From: Joe Copia	Read Replies (2) of 25711

ALERT for PAMM holders: (REUTERS) PacificAmerica <PAMM.O> says merger talks ended <Toon_> PacificAmerica <PAMM.O> says merger talks ended <Toon_> WOODLAND HILLS, Calif., Oct 12 (Reuters) - PacificAmerica <Toon_> Money Center Inc. said insurance holding company Fremont <Toon_> General Corp. had talk of a merger because of the decline in <Toon_> the securities markets, especially in the subprime lending <Toon_> industry. <Toon_> The real estate lending company, however, said it would <Toon_> still explore a sale of the company and selling or refinancing <Toon_> of all or a portion of the company's interest-only strips <Toon_> receivables. It said it might also opt to raise additional <Toon_> capital at the parent or subsidiary level. <Toon_> The company noted that turmoil in the subprime lending <Toon_> industry would make it difficult to known whether it could act <Toon_> on any of these ideas. It also said that trouble in the <Toon_> subprime industry increased its risk of financing loans and <Toon_> existing interest-only strips receivables, and pricing <Toon_> secondary loan sales.

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