Editors Note – In this feature, we check on the health of the Fortune 500 companies which have a presence in San Juan Capistrano.
What a mixed bag of results this week, but nothing impressive one way or another.
The big business story of the week was the $25 billion settlement deal major banks brokered with the U.S. Justice Department. Of that,$5 billion is in cash penalties, payable to borrowers, states, and the federal government and $20 billion is for additional aid, through reducing homeowners' loan balances, and refinancing for underwater homeowners who are current on their loans.
J.P. Morgan Chase & Co. and Wells Fargo & Co. each have a $5.3 billion share of the settlement. Bank of America Corp. is bearing the biggest share, $11.8 billion. Citigroup has to pay $2.2 billion, and Ally Financial Inc. must pay $310 million, according to Fox Business News.
J.P. Morgan, Wells Fargo and BofA said they have set aside funds to pay off the settlements.
But MoneyMorning says that the challenge is far from over as individual states and others have gone after the banks, and their litigation is still pending.
Some Business Briefs for You:
Of course the big news of the week for San Juan Capistrano is that a Fortune 500 company opened in town. Read all about the ribbon-cutting ceremony for the new Residence Inn, a Marriott hotel chain, here.
Consumer Reports ranks Costco No. 1 in making its custormers happy. Well, we could've told them that! I know people who make dates out of the food samples.
Apparently, pit bull owners take issue with a recent McDonald's commercial. Interesting reading here. I've known some really sweet pits, and I'm not into junk food, so I'm sticking up for the dogs!
| Company |
Ticker |
Close Friday |
% Change on the Week |
| Bank of America | BAC | 8.07 |
+3.59 |
| Big Lots | BIG | 44.00 | +0.94 |
| Chevron | CVX | 105.28 | -0.21 |
| Citigroup | C | 32.92 | -0.44 |
| ConocoPhillips | COP | 72.25 | +1.79 |
| Costco | COST | 84.20 | -1.36 |
| Dollar Tree | DLTR | 86.83 | +1.38 |
| FedEx | FDX | 95.27 | +0.46 |
| JP Morgan Chase | JPM | 37.61 | -1.42 |
| The Kroger Co. (Ralphs) | KR | 23.63 | -1.58 |
| Marriott | MAR | 35.72 | -1.13 |
| McDonald's | MCD | 99.47 | -0.54 |
| PetSmart | PETM | 53.61 | -0.30 |
| Quest Diagnostics | DGX | 57.54 | -1.88 |
| RadioShack | RSH | 7.60 | +2.84 |
| Rite Aid | RAD | 1.54 | +2.67 |
| Ross Stores | ROST | 51.94 | +0.37 |
| Safeway (Vons) | SWY | 21.74 | 0 |
| Sempra Energy (SDG&E) | SRE | 57.50 | -1.37 |
| Staples | SPLS | 14.76 | -0.07 |
| Starbucks | SBUX | 48.82 | +1.41 |
| The TJX Cos. (Marshalls) | TJX | 34.36 | -0.49 |
| United Parcel Service | UPS | 76.69 | +0.01 |
| Wells Fargo | WFC | 30.26 | -1.21 |
| Yum! Brands (KFC, Taco Bell) | YUM | 64.74 | +1.41 |
– Financial data provided by Google Finance