Comments on: A depository run on Countrywide bank (Updated)

By: Don

Don — Sat, 18 Aug 2007 21:59:37 +0000

I saw the reference to Bill Ashmore’s (IMPAC president) withdrawl of that $500,000 in today’s Barrons.

By: Michelle

Michelle — Sat, 18 Aug 2007 05:58:20 +0000

I find it a bit suspect the President of IMPAC would have $500,000 in this Depository. I wonder how many other HIGH PROFILE Mortgage Execs have large sums on deposit and what “creative” incentives, if any, were gained.

By: Morgan Brown

Morgan Brown — Fri, 17 Aug 2007 05:00:44 +0000

Faiz – While I think your argument makes sense in theory advertising dollars are committed as much as 6 months in advance and there are no refunds.

They may very well have cut back on advertising but we won’t see those effects for a least a couple of months. Ad planners and media buyers book and pay way in advance for the best slotting/discounts/volume.

By: Morgan Brown

Morgan Brown — Fri, 17 Aug 2007 03:46:36 +0000

Thanks everyone for the feedback – we’ve resolved it. They combined it in to another story and I’ve added the links and updates. They still have that information in the story.

Thanks to BV, DBW, Rebecca, et al.

By: Faiz

Faiz — Fri, 17 Aug 2007 03:01:21 +0000

Hi, I wanted to call your attention to this post we did on Countrywide and the fact that it’s still running advertising. It’s worthy of a debate I think, but we take the position that they should focus their resources on securing the loans.

http://thinkprogress.org/2007/08/16/countrywide-running-ads/

Leading Home Mortgage Loan Company On The Verge Of Bankruptcy Still Running Ads

By: DBW

DBW — Fri, 17 Aug 2007 02:40:17 +0000

Heard about a similar occurance today, second hand. Except it was a local branch in the Philadelphia area. Line was “out the door.”

I heard about it around 4PM EST.

By: BetterVillage

BetterVillage — Fri, 17 Aug 2007 01:56:35 +0000

When you click on the link in Google now: 18:55 pst, it takes you to an la times article on cw, but not the one referenced. Here’s the link for the times article as pulled up directly from latimes.com:
http://www.latimes.com/business/la-fi-countrywide17aug17,1,5048775.story

Note that it’s marked aug17. WTF?

It’s supposedly written by “staff and wire”

By: rebecca

rebecca — Fri, 17 Aug 2007 01:49:39 +0000

That quote is in this other article “Countrywide taps $11.5 billion credit line,” linked from the article found on the google news page:
http://www.latimes.com/business/la-fi-countrywide17aug17,0,1835165.story?coll=la-home-center