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Memorial posts $10 million loss for May due to stock losses

Memorial Health System saw an increase in its profit margin of $3.9 million, slightly ahead of budget expectations. But overall, it lost $10 million in May, due to unrealized losses in the stock market, said interim CEO Mike Scialdone. Scialdone highlighted Memorial’s financial performance in his monthly presentation to the Colorado Springs City Council. Year-to-date,… Continue Reading Memorial posts $10 million loss for May due to stock losses

Mortgage giant Fannie Mae said Wednesday that it lost money in its fourth quarter and is asking the federal government for $4.57 billion in aid to cover its deficit. Washington-based Fannie said it lost $2.41 billion in the October-December quarter, stung by declining home prices. Revenue was $4.53 billion. The government rescued Fannie and sibling… Continue Reading Fannie asks gov’t for almost $4.6B after 4Q loss

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