Tag: funeral financing

Cremation Preneed

Preneed is the answer

This article picks up on yesterday’s discussion of what could happen as more crematories are built expanding the supply of crematories in the United States.  Yesterday’s discussion then went to the thought process and question of, “Will this excess capacity in cremation move cremation to a lower and lower retail cost as death care companies vie for the limited number of clients?” Shortly after I wrote that article I came to the conclusion that, even if that does happen, the […]

Finance

Moodys upgrades Carriage Services. . . . can you find savings in financing?

Upon the heels of a very profitable quarter and yearly report of funeral and cemetery consolidator Carriage Services, Moody’s Investor Services last week raised the credit rating of the company as you can see in this article here.  A better credit rating should drive down borrowing costs for Carriage Services and, according to the Year End 2020 Annual report, Carriage Services management is counting on that to lower cash outlays for those needs. It’s also very interesting as to what […]

Afternoon Edition

Axar Capital pulls back bid to take StoneMor Inc. private

In this public relations release from Globe Newswire you can read that Axar Capital Management has withdrawn its proposal to acquire all of the outstanding shares of StoneMor Inc. and take the company private. In the press release, StoneMor made this announcement by Stephen J. Negrotti, Chair of a special committee to evaluate the Axar proposal, “We have worked closely with Axar over the last six weeks to evaluate its most recent proposal. We have consulted with our financial and […]

Regulations

Australian pre-need insurer faces investigation and civil action

This article from the Sydney Morning Herald relates to the Australian Securities and Investments Commission (ASIC) that, according to that article, commenced action last week against funeral and accident insurance company Select AFSL  and its director, Russell Howden. The article mentions that the company faces a lawsuit from Australia’s corporate regulator over what they call “coercive sales tactics”.  It is alleged that Select AFSL offered staff trips to Las Vegas and other prizes for pushing funeral insurance policies to vulnerable […]