Housing recovery divided | Chappaqua Real Estate

 

Monday Morning Cup of Coffee takes a look at stories across the HousingWire news desk, with more coverage to come on bigger issues.

As the first-quarter earnings season starts to come to a close, a new trend started to unfold in CEO letters to shareholders, according to an article in CNBC.

CEOs usually send the letters along with the company’s proxy statement in the spring because proxy statements are due within four months of every company’s fiscal year ending.

The article explained that most CEOs have a tendency to take this time to boast about their accomplishments.

But this year was a little different, with some CEOs taking the opportunity to rmark on recent, not-so-grand events. A full list of CEOs telling it like it is is available in the original USA Today article.

JPMorgan Chase (JPM) CEO Jamie Dimon dealt with a year filled billions of dollars of settlements, mostly related to mortgage securities.

“The bad news was bad,” he wrote. “The most painful, difficult and nerve-wracking experience that I have ever dealt with professionally was trying to resolve the legal issues we had this past year.”

However, Dimon stressed that despite all of the negative, JP Morgan came out strengthened. And, despite the loss, Dimon’s 2013 compensation package was raised to $20 million.

Thousands of homeowners will open their mailboxes to a pleasant surprise as Everbank Financial is prepared to write $1,050 checks to 25,389 of its customers, even though no errors were found in reviews of their foreclosure files, an article in The Washington Post explained.

 

 

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http://www.housingwire.com/blogs/1-rewired/post/29896-monday-morning-cup-of-coffee-jpmorgan-ceo-tells-all-housing-recovery-divided-across-nation

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