Sacred Wind donates $35,000
Sacred Wind Communications Inc. is donating $10,000 to the American Indian Graduate Center and $15,000 to the Navajo Technical College. The Albuquerque firm was voted the most inspiring small business in America in the American Express/NBC Shine a Light contest last October. It received $50,000 in cash, half of which Sacred Wind immediately donated to Native scholarship programs. John Badal, CEO of Sacred Wind, said there is no better way to ensure a strong future for his company and the state than to support education. The nonprofit American Indian Graduate Center was founded at the University of New Mexico in 1969. It has awarded more than 15,000 scholarships totaling more than $44 million to American Indian graduate students across America. 2010 American City Business Journals, Inc. and its licensors. All rights reserved. [Read the full article]
With President Obama pushing legislative reforms that could cost it dearly, student loan giant Sallie Mae is looking to horn in on the lucrative online bank account business. Despite the former government-sponsored enterprise historical focus on education financing, Sallie Mae’s new savings accounts and CDs are available to anyone, whether they are saving for college or not. With a 1.35% annual yield, Sallie Mae is looking to pick the pockets of established online-account players like Capital One and Ally Bank (the new business name of GMAC), which respectively offer yields as high as 1.45% and 1.39%. Like many online accounts, Sallie carry a limit of six withdrawals a month. There are some hidden fees, like a $5 charge for paper statements, but nothing worse than competitors are doing. The real question is whether that nice 1.35% annual yield will stay put. [Read the full article]
Nelnet (NYSE:NNI – News) today reported base net income of $81.3 million, or $1.64 per share, for the fourth quarter of 2009, compared with $15.8 million, or $0.32 per share, for the same quarter a year ago. For the year ended December 31, 2009, the company reported base net income of $194.9 million, or $3.94 per share, compared with $81.1 million, or $1.65 per share, for 2008. Base net income excludes discontinued operations, restructuring charges, impairment expenses, and certain liquidity-related charges.
Base net income in the fourth quarter of 2009 includes pre-tax gains of $26.9 million, or $0.35 per share after tax, on the sale of $1.7 billion of federal student loans to the Department of Education (Department) and $22.7 million, or $0.30 per share after tax, from the company’s repurchase of $302.1 million of asset-backed debt. [Read the full article]