I'm not saying that you should not have title insurance policy. I read the article you referenced to. Believe me if they paid out 661 Million in Claims they got paid a premium across the board for it. That if why I own FNF. They get paid huge premiums for their risk associated against a possible payout and make a ton of cash. I am investor in real estate myself and just closed on an industrial piece last week which was vacant land. I purchased a piece of property that a church had owned for 50 years. It cost me $ 1,100.00 dollars for a title policy which I have no choice but at the same time would insure my mortgagee and myself should a problem arise.
The only way you can place a lien on real property is at the county level. All other liens UCC's etc are done at State Level, in other words all UCC's are a national filing system.
If you are the IRS, the State, Creditor and win a judgement all liens are filed at the county level to become a lien on real property.
You need not be a rocket scientist to read a Microfish Machine to look up county records.
Again that is why I own this company, they just
People pay over and over for the same information that a title company performed yesterday for tomorrow.
Believe me I know someone who owns a title company on Long Island with 200 people in his office.
Do you think these people are each making $75,000 - $100,000 per year each. You are dreaming dude. Like everywhere only the top title closers are making big money. Everyone else is just pushing paper for pittens.
Again you need not be a rocket scientist.
I have only owned FNF for 9 months but everything I have seen with FNF indicates that mgt will do what is right for the sharehilders. When the FIS IPO was put aside there was some grumbling from the shareholders but it is proving to be the right move at this time. Remember, we don't have all the info that the CEO is privy to.
""But we do need them. Without them, where would the airliners empty their purge tanks as we fly from Boston to San Francisco"""
I thought the fuel and lavatories were emptied wherever you were suntanning at any specific or necessary moment,
Located by your personal gps system the FAA pays you to carry? Or do you still pay them for the luxury of receiving what they have to shower you with since you are always on the pursuit of excellence??
you are a man with discriminating tastes, proven by your eloquent posts.
who could miss them..................?
regardless of a red or blue state.
Ernie Smith is one top flight Title person that I have known from his days as county manager at Safeco Title in San Francisco during the mid 80's..
I would work for him in half a heart beat or sooner.
He is great interfacing with local management and he has definitely proven himself to the company.
There has been some very fine people that have come and exited, Ernie passes the internal litmus test for technical expertise, outstanding client relations, and uncompromised loyalty.
Ernie is a street proven title man for decades , now.
He commands respect through out the entire industry.
FNF has one superior 'kitchen cabinet'.
Not one single person is there by accident or coincidence.
I am not trying to sound like a boy scout or blind cheerleader,
They just have fantastic upper management.
I am not suggesting any kind of a weak bench for FNF. Quite to the contrary. The top 4 guys under Bill were all brought up in the Title business(Of course Randy Quirk, Maudsley, Abbenante, & Ernie Smith are the guys I am talking about) Bill and them are the primary reasons that FNF is the top Title company. Randy has been heading up the Title end of the business since Bill is concentrating on FNIS.
Willey and Sadowski were lawyers (Willey came from Bill's law firm). Stinson is an fantastic accountant, and Bickett has really came on strong concentrating on Mergers and Acquisitions.
The only one that might be a little pay back for Bill is Dewey. He was his classmate at WP, and when he retired, came to work at FNF. He is CAO. Logistics seem to be his forte, so probably is a good fit.
Of course the shining star is Bill himself. He received an engineering degree from WP, MBA from Seattle and his J.D. from Washington. Seems he got a lot of skills he needed in school.
I keep hearing that Ernie Smith is going to give up the Presidency of FNIS, if and when they split, and concentrate on Title. Have you heard anything about this? Who would be talented enough to assist Bill at FNIS when they split?
If you're suggesting this company has a weak bench, I'd take issue with you. Foley is certainly the guiding light and chief strategist here, but you don't get this kind of execution, with the best margins in the industry, without competent people.
And since when are all skills learned in school? Half the successful people I know are working at something other than their college major. Gee, no MBA program at WP. That's a negative?
"Business is centered around leadership ability and that's what WP teaches, among other things. In many respects the military dwarfs most private sector enterprises."
I agree it helps in leadership, however public businesses require other talents as well. Bill got one of his by becoming a lawyer after WP. Negotiation skills are very important in business and I certainly don't see that coming from WP. Lawyers are very skilled at that. No MBA degrees at WP. They do have accounting degrees at WP, but they are not pointed to the business sector. I hope you get my point here.
At the risk of alienating everyone else here for the rest of time, you've got my vote, Red. My openly gay brother is a banking exec of considerable talent, just leaving his current position for Operations Manager of another bank.
My aren't we defensive about living in a red state!
But we do need them. Without them, where would the airliners empty their purge tanks as we fly from Boston to San Francisco?
Kudos for hanging in there Faye.
May you always stay committed to equal rights! (I'm sure you will!)
But remember, it's more than just a man-woman issue. Gays and transgenders suffer even more discrimination!
Someone who looks like Boy George could have an IQ of 200 and be a great leader, but as things are now, he could never be CEO of Fidelity!
That's only a dream for now. But we can't give up. Otherwise, Peace, Justice, the Children, Education, and the Environment will all suffer!