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Provided by Dow Jones Apr 7, 2021 2:18 PM UTC Mr. Navarro wanted to use computer programs to estimate the profitability of debt portfolios. He assembled a 100-person information-technology staff, hired people with front-office experience and integrated the company s various business units so they could handle bigger volumes and different types of debt, according to a 2006 report to investors. To get Sherman off the ground, Mr. Navarro sold 91% of the firm for $40 million to two insurance firms. They had phenomenal analytics, said Daniel Gross, the former CEO of one of the firms, Enhance Financial Services Inc. Sherman grew quickly as wages for many working and middle-class consumers stagnated and they turned to more widely available credit. Between 2001 and 2020, consumer credit-card debt grew by 37% to $819 billion, according to New York Fed data, and credit-card debt sold by banks increased by 87%, Federal Reserve data sh ....
More By allowing ads to appear on this site, you support the local businesses who, in turn, support great journalism. MANTECA MAY BRING BACK CLEAN-UP DAYS Part of what could be a multifaceted city plan to combat the ‘trashing’ of Manteca For more than six months in 2018 people kept illegally dumping furniture and garbage in the 600 block of North Lincoln Avenue in Manteca until the city stepped in. Communitywide clean up days may be returning. It is part of a game plan city staff is crafting for council consideration after elected leaders last month declared that beautifying Manteca by fighting illegal dumping, debris left by homeless, graffiti, blight, and other issues that are trashing the city was a top tier municipal priority. ....
Flickr This article is made possible through a partnership between WFAE and Votebeat, a nonpartisan reporting project covering local election integrity and voting access. This article is available for reprint under the terms of our republishing policy. Ahead of President-elect Joe Biden’s inauguration at noon Wednesday, WFAE asked Charlotte residents what they’re hoping to hear and see from the new president s speech and from his administration. Mario Black, the founder of Million Youth March in Charlotte, said he wants the incoming Biden Administration to hold police officers accountable when there are cases of police brutality. We’ve seen it countless times, where the officers are not charged, Black said. And a lot of the situations, some situations are where it’s plain as day that it’s police brutality. I guess, understand across the board that they’re held accountable, just as I would be held accountable for killing or shooting someone. ....