Posted by Linda_in_MI on 8/27/13 7:58am
Msg #482067
FNF - deals in title insurance and a whole lot more
Now don't get me wrong. They say every business must diversify and have more than the proverbial one stake in the fire. And I have seen first-hand through former employer of husband the results of relying only on one primary resource (that account left and the business almost closed). But I never really thought to go deep to see just what other things the bigger title companies may be involved in or how intertwined they may be with other industries. In Fidelity's case, not only do they have SEVERAL major title insurance companies, they are a majority stake holder in a couple of pretty well-known restaurant chains, majority stake holder in a company that manufacturers automotive electrical components and they hold small interest in an company global human capital management and payment solutions. And now, an association with an environmental company. Doesn't make it bad or good. Just didn't know.
On the new association with an environmental company: "The new name is more than just a reflection of our increased ownership stake in the company," said William P. Foley, II, Chairman of FNF. "It represents FNF's commitment to protecting vital water resources and becoming the leading provider of environmental water treatment solutions to the global energy industry."
http://online.wsj.com/article/PR-CO-20130827-904417.html
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Reply by 101livescan on 8/27/13 8:09am
Msg #482068
Re: FNF - you didn't mention all the wineries he owns
The man is brilliant. I interviewed with Mr. Foley 25 years ago...he's strategic and never gets into anything that won't make him $$$.
Mr. Foley lives in Hope Ranch, an exclusive residential community in Santa Barbara. Years ago, FNF was headquartered in Newport Beach, but Mr. Foley liked it up here more, and moved his company here. Then he realized the cost of doing business was skyrocketing and he moved the headquarters to Jacksonville, FL. He invited everyone to go to Jacksonville, FL where the jobs would be. Very few took him up on it. So he hired all new people for the Jacksonville operation.
After everything kind of settled down, he opened a small office in Santa Barbara where he offices. He spends most of his time in Santa Barbara. There are many Fidelity offices all over the nation. They are leaders in commercial title, FATCO is no. 1 in residential. Fidelity owns Ticor, Lawyers and Chicago Title, probably more.
Very smart businessman, graduated West Point, and he is also a lawyer.
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