Sponsored Links

Selasa, 21 November 2017

Sponsored Links

JG Wentworth Commercial Rap version 2014 - YouTube
src: i.ytimg.com

The J.G. Wentworth Company is a diversified financial services company, focused on providing direct-to-consumer access to financing solutions through a variety of avenues, including mortgage lending and refinancing, structured settlement, annuities, lottery payment purchasing, home lending, prepaid cards, and access to providers of personal loans. The firm is currently traded publicly on the OTCQX (symbol: JGWE).

In the United States, the company is known for its television advertisements featuring "Mr. Wentworth", but more recent commercials have included Wagnerian opera singers.


Video J.G. Wentworth



History

J.G. Wentworth was founded in 1991 as a merchant bank specializing in transactions in the healthcare industry. In 1992, the company began to purchase New Jersey's auto insurance deferrals from claimants who could not afford to wait 12 to 18 months for their settlements.

Prior to 1999 there was no state regulation for structured settlements in the state of New York. Eliot Spitzer entered into a contract with J.G. Wentworth to help protect New Yorkers from selling their settlements at exorbitant rates. The agreement stipulated that J.G. Wentworth could receive a rate of no more than 25 percent of the annual discount rate of annuities it had purchased from a citizen of the state of New York. At the time, a JGW executive told the New York Times that the firm sought the agreement because of the rate at which its business had grown in recent years.

In May 2009, following the financial crisis, J.G. Wentworth's parent company, JGW Holdco LLC, entered Chapter 11 bankruptcy protection. The company cited "liquidity problems amid a tightening credit market" as the catalyst for filing. In June 2009, JGW Holdco LLC received $100 million in equity from primary stakeholder JLL Partners, which allowed the company and its subsidiaries to emerge from bankruptcy.

In 2011, J.G. Wentworth and Peachtree Financial Solutions, which also purchased structured settlement, annuity, and lottery payments, formed a new holding company, JGWPT Holdings LLC. The two companies continued to operate independently after the transition.

In October 2013, the firm filed for an initial public offering, which was offered the subsequent month. The company was initially listed on the New York Stock Exchange under the symbol JGWE.

In 2015, J.G. Wentworth began expanding their financial offerings by purchasing WestStar Mortgage for $54 million in common shares and cash. In the same year, the company also announced a partnership with Visa to offer a prepaid card to customers.

In June 2016, J.G. Wentworth was delisted from the NYSE for failing to satisfy the continued listing rule. Later that month, the company began trading on the OTC Markets Group under the symbol JGWE.

On November 8, 2017, J.G. Wentworth filed for Chapter 11 bankruptcy for the second time in 9 years. JGWE stock plummeted as much as 87% on November 10, 2017. The company is expected to emerge from bankruptcy in or around January 2018 after coming to an agreement with lenders prior to filing.


Maps J.G. Wentworth



Commercials and awards

The commercials that run on daytime television in the United States featuring "Mr. Wentworth" are how the company is best known. The company has had many commercial series with Mr. Wentworth; however, more recent series feature Wagnerian opera singers. The tagline featured in the commercials is "It's my money and I need it now!" and "It's your money; use it when you need it!"

JGW has won several domestic and international awards for its television advertising, including a silver Davey award. The "Wagnerian Opera" commercial won two International Summit Awards for Best Humor and Best TV between US$75k and US$100k.


JG Boyz win national competition to create J.G. Wentworth jingle
src: media.local10.com


J.G. Wentworth brands and subsidiaries

J.G. Wentworth owns and operates under a number of brands. The main two brands owned by J.G. Wentworth are J.G. Wentworth and Peachtree.

Additional brands and subsidiaries include:


J.G. Wentworth
src: i.ytimg.com


References


The J.G. Wentworth CompanyA 2017 Q2 - Results - Earnings Call ...
src: static2.seekingalpha.com


External links

  • Official website

Source of the article : Wikipedia

Comments
0 Comments