IndyMac Bancorp files to liquidate remaining assets

IndyMac Bancorp Inc., once the second-largest US independent mortgage lender, filed to liquidate its remaining assets three weeks after its bank was seized by US regulators and put under other management. IndyMac's liabilities are between $100 million and $500 million, according to the Chapter 7 filing by the bank holding company in US Bankruptcy Court in Los Angeles. IndyMac said it has fewer than 50 creditors, including law and accounting firms and other banks, none of whose outstanding claims were listed. IndyMac was seized by US regulators on July 11 with its $19 billion in deposits, after a run by depositors left the mortgage lender strapped for cash. The Federal Deposit Insurance Corp. is running a successor institution, IndyMac Federal Bank, and regulators have said they intend to eventually sell the seized bank. (Bloomberg)

New York Attorney General Andrew Cuomo plans to sue Citigroup Inc., the largest US bank by assets, accusing it of "fraudulent" tactics in selling auction-rate securities as safe, money market-like investments. Citigroup destroyed "documents under subpoena," Cuomo said in a letter of intent sent to the bank following a five-month investigation by his office. He said he plans to charge the bank under the state's Martin Act, which permits civil suits and criminal action in securities cases. Cuomo offered details for a possible settlement of the matter. A spokesman said he won't sue if his terms, including a fine, are met. A bank spokeswoman, Susan Thomson, said the company was cooperating with regulatory authorities. (Bloomberg)

Comcast Corp., the largest US cable television provider, was ordered by the Federal Communications Commission to stop blocking its customers from sharing videos and other files online. The 3-to-2 vote by the FCC allows consumers and entrepreneurs to keep using the Internet without interference, according to the Open Internet Coalition, a group that counts Google Inc. and EBay Inc. among its members. The agency ruled in response to a complaint from groups that accused Comcast of slowing traffic on its network and stopping users from uploading files. Comcast denies blocking traffic. (Bloomberg)

Yahoo Inc. investors reelected the Internet company's board, with 85 percent of votes supporting chief executive Jerry Yang after he fended off a proxy battle with billionaire investor Carl Icahn. Chairman Roy Bostock was reelected with about 80 percent of the votes, Yahoo said after its annual meeting in San Jose, Calif. Icahn was named to the board after the meeting. The vote gives Yang a boost as he seeks to revive Yahoo's stock price after rejecting a $47.5 billion offer from Microsoft Corp. While the company still trails Google Inc. in Internet search users and advertising, Yang said today Yahoo is closing the gap. Yahoo shares fell 9 cents to $19.80 on the Nasdaq. (Bloomberg)

US auto sales slumped to a 16-year low in July as automakers failed to keep up with consumers' growing demand for smaller, more fuel-efficient vehicles. While production changes may help that problem, trouble in the credit and auto leasing markets will continue to take a toll on sales. General Motors, Ford, Toyota and other automakers said their US sales fell by double-digits. Nissan Motor Co. was the only major automaker to report a gain. Nissan's overall sales rose 8.5 percent. (AP)

Anheuser-Busch Cos., the beer maker being acquired by InBev NV for $52 billion, said some laptops were stolen, including a machine with personal data about former and current workers. The computers were stolen from a St. Louis office building, Tim Farrell, a vice president, for human resources, said in an e-mail. Laptops from other tenants in the building also were taken, Farrell said. Anheuser-Busch said it reported the thefts and is cooperating with police. The beer maker will offer affected workers a year of free credit monitoring. (Bloomberg)