Financial Holding Corporation
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FangKC
- City Hall
- Posts: 18196
- Joined: Sat Jul 26, 2003 10:02 pm
- Location: Old Northeast -- Indian Mound
Financial Holding Corporation
I've always admired the Financial Holding Corp. building on W. 11th and Central. Does anyone know what FHC does? Are they still in that building, or is it something else now?
There is no fifth destination.
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KCPowercat
- Ambassador
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- Joined: Mon Oct 07, 2002 12:49 pm
- Location: Quality Hill
- Contact:
Financial Holding Corporation
hold finances??? 
Not sure what they do.
Not sure what they do.-
FangKC
- City Hall
- Posts: 18196
- Joined: Sat Jul 26, 2003 10:02 pm
- Location: Old Northeast -- Indian Mound
Old Fire Dept. Headquarters
I've noticed that building appears to be connected to the old Fire Department Headquarters (now Central Exchange) next door on Central.
I'm under the impression that a financial holding company is an entity created so that a corporation can operate several different companies under one ownership. I think it allows the company to limit liability among companies too. For example, General Motors operates a auto manufacturing company, but they also operate a financial lending enterprise (GMAC). GM also builds components for the defense industry. I think a holding company allows GM to own several companies, but if there is a bankruptcy or huge financial disaster, it protects their other businesses from financial ruin, lawsuits, insolvency, seizure, etc.
Another example might be one of the big tobacco companies. One tobacco company might also own a candy company, a soft drink company, and a snack food company. With all the big health-related liability judgements that have been awarded lately to states, the tobacco company's liability is limited to the assets of the branch that makes cigarettes, not the others. The holding company protects the other assets, and acts as a conduit to funnel profits to the corporation as a whole.
I think it is also a tool to distribute the profits from all enterprizes to shareholders, and pay taxes, through one means.
I'm sure it does other things as well like establishing the percent of ownership in cases like where one car company may own 20 percent of another car company: Ford Motor Co./Mazda/Jaguar; GM/Saab.
This is what I perceive a holding company to be.
Anyone feel free to add to this definition, or correct it.
I'd still like to know what Financial Holding Corp is. Are they the holding company for an area business enterprise? Do they set up holding companies for others? Do they manage assets for investors and owners who appoint others to run the business?
I'm under the impression that a financial holding company is an entity created so that a corporation can operate several different companies under one ownership. I think it allows the company to limit liability among companies too. For example, General Motors operates a auto manufacturing company, but they also operate a financial lending enterprise (GMAC). GM also builds components for the defense industry. I think a holding company allows GM to own several companies, but if there is a bankruptcy or huge financial disaster, it protects their other businesses from financial ruin, lawsuits, insolvency, seizure, etc.
Another example might be one of the big tobacco companies. One tobacco company might also own a candy company, a soft drink company, and a snack food company. With all the big health-related liability judgements that have been awarded lately to states, the tobacco company's liability is limited to the assets of the branch that makes cigarettes, not the others. The holding company protects the other assets, and acts as a conduit to funnel profits to the corporation as a whole.
I think it is also a tool to distribute the profits from all enterprizes to shareholders, and pay taxes, through one means.
I'm sure it does other things as well like establishing the percent of ownership in cases like where one car company may own 20 percent of another car company: Ford Motor Co./Mazda/Jaguar; GM/Saab.
This is what I perceive a holding company to be.
Anyone feel free to add to this definition, or correct it.
I'd still like to know what Financial Holding Corp is. Are they the holding company for an area business enterprise? Do they set up holding companies for others? Do they manage assets for investors and owners who appoint others to run the business?
There is no fifth destination.
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SonicBoi
- New York Life
- Posts: 456
- Joined: Thu Jan 30, 2003 2:40 am
- Location: Independence or 2555 Grand, Crown Center
- Contact:
Financial Holding Corporation
This might help: http://www.smartkc.com/2_partners/2d_co ... olding.htm
Last edited by SonicBoi on Sun Dec 21, 2003 8:14 pm, edited 1 time in total.
SonicBoi
1 Samuel 18:3-4: And Jonathan made a covenant with David because he loved him as himself. Jonathan took off the robe he was wearing and gave it to David, along with his tunic, and even his sword, his bow and his belt.
1 Samuel 18:3-4: And Jonathan made a covenant with David because he loved him as himself. Jonathan took off the robe he was wearing and gave it to David, along with his tunic, and even his sword, his bow and his belt.