Friday, May 09, 2008
September 2002 issue - Vol.2, No.12, 32 pages

   We Mean Business. Illinois Business.
 
 

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Working immigrants aided by U.S. financial institutions
By KERRY L. SMITH

  Mexican immigrants working in the U.S. have grown accustomed to surrendering large percentages of their paychecks to send money back home to their families.
   Annually, Mexicans working here send more than $9 billion home to support their loved ones. But traditionally, too much of their total wages has gone to third-party check cashing outlets that got [continue]

Victor Hernandez waits with his mother to exchange dollars to pesos from his father, who is working in the United States, at a currency exchange store in Actopan, Mexico, a town of 40,000 whose residents rely heavily on money earned stateside and wired to them. Families like Victor's can now benefit from money-wiring programs like IRnet, which costs considerably less than what migrant workers are used to spending to provide for their families abroad.

Stability boils down to cash, not reported earnings
By KERRY L. SMITH

   With all of the corporate bookkeeping scandals in the air, the professionals who rely upon accurate numbers could be getting the jitters about what they see. But that's not the case.
   Bankers and investment advisors are quick to point out that no matter how inaccurately a company's earnings are reported, it doesn't really matter to them because those [continue] A twisted American flag hangs from the main entrance of the WorldCom Inc. corporate headquarters in Clinton, Miss. WorldCom Inc. uncovered another $3.3 billion in bogus accounting, bringing the total to some $7.1 billion.

U.S. Patriot Act designed to prevent terrorism by 'nipping it in the bud'
By VICKI BENNINGTON

   In an effort to combat terrorism, the government and other entities, including banks, have taken many steps.
   The United and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism, known as the USA Patriot Act, was passed by Congress and signed into law by President Bush on Oct. 26, 2001, in direct response to the terrorism of Sept. 11.
   Debbie Carbonell, internal auditor, compliance and security officer for Security Bank in Springfield, said that some sections [continue]

Community banker banks on what counts By KURT PRENZLER   ALTON -- In 1991, Mark Repking achieved the "corner office," becoming president and CEO of the Bank of Alton. But the detail-oriented accountant didn't lose sight of the forest for the trees. As he looked out his window at the world of banking, he noticed a trend.    That trend was that giant-fish banks were eating big-fish banks, who were eating small-fish banks, who were eating [continue]

 
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