MarketWatch.com - MarketPulse
NEW YORK (MarketWatch) -- Penn Treaty American Corp. said Monday that it has retained Friedman, Billings, Ramsey & Co. to assist its board in reviewing strategic alternatives, which could include partnerships or the sale of certain assets. Based on a preliminary report by its actuarial consultants, the Allentown, Pa., insurance company believes that it will have to increase claim reserves and that there may be offsetting or partially offsetting reductions in active life reserves. The valuation analysis is expected to be completed during the first quarter of 2008. Shares of Penn Treaty closed Friday at $6.49.
Business News from Times Online
A small 1950s bungalow in Stockton, California, is up for sale for $169,950. Sitting off a quiet road dotted with American flags, the Funston Avenue home has two bedrooms, one bathroom and a covered porch.$