When the lawyers are scared, the ship is sinking:
One issue arising now is how to replace the work provided by its anchor client, Ameriquest. The privately held lender has fed Buchalter a steady stream of work in recent years. In 2005, Buchalter lawyers helped it hammer out a $325 million settlement of predatory lending claims. But the company has let 4,000 employees go over the last year amid mounting worries, on Wall Street and elsewhere, that defaults are swamping it and other subprime lenders.How many Angel fans are being foreclosed on by this monster as they get away from it all for a night at the park only to see the sacred BIG A carry the Ameriquest Bell? Or maybe worse, the Centerfield Billboard that dongs-out a gong for each Angel run scored. May the Angels score in droves without it!
"It's clear that a tsunami is hitting this industry and Ameriquest is one of the worst players -- how they could possibly survive is beyond me," said David Olson, a founder of Wholesale Access Inc., a research firm that studies market lending. Olson expects Ameriquest to go under within several months.
From LAW.COM (scary url or what?)
Ameriquest has ditched its naming of Ameriquest Field for the Texas Rangers (after dumping $75 Million their way) and now, according to REUTERS, they are dumping NASCAR as well:
According to Nascar's Web site, the unit of Orange, California-based ACC Capital Holdings Corp. asked Roush Fenway Racing to release it from the final two years of its three-year sponsorship of the No. 16 car, a Ford Fusion driven by Greg Biffle. Ameriquest had replaced the National Guard as a sponsor after the 2006 racing season.
In addition to making the 2003 Fan Appreication Day "3,000,000 Fans" teeshirt a heightened curiosity (the ugly Ameriquest logo is on the back), the Stadium signage may need replacing before season's end. Besides the obvious dream of a Halos Heaven Billboard in Centerfield, what company would be a suitable replacement for the Vulturesque Ameriquest?