Newspaper article The Florida Times Union

Morning Briefs

Newspaper article The Florida Times Union

Morning Briefs

Article excerpt

FIDELITY NATIONAL TITLE SPLIT TO BE COMPLETED IN OCTOBER

Fidelity National Financial Inc. said Monday it will complete the spin-off of its Fidelity National Title Group Inc. subsidiary on Oct. 18 by distributing shares of the title insurance company to Fidelity stockholders of record as of Oct. 6. As previously announced, Fidelity stockholders will receive 0.175 shares of the title company's stock for every Fidelity share they own. After the shares are distributed, Fidelity National Title will trade on the New York Stock Exchange under the ticker symbol "FNT." Fidelity National Financial will continue to trade under the ticker "FNF."

FNT expects next month to declare the record and payable dates for its initial quarterly dividend of 25 cents a share.

Mark Basch/The Times-Union

DALLAS COMPANY TO CLOSE LOCAL OFFICE, CUT 59 JOBS

A company that processes mortgage defaults for lenders said Monday it is cutting 59 of its 65 Jacksonville jobs as it moves jobs to the Dallas area.

First American National Default Outsourcing, one of 60 divisions of Santa Ana, Calif.-based The First American Corp., said workers were notified Wednesday of the cuts that are effective Nov. 23. The remaining six workers are moving to the Dallas area, First American Corp. spokesman David Schulz said.

First American National Default Outsourcing, which employs about 700 workers nationally, acquired the Jacksonville office about a year ago. Jacksonville is the last of up to five offices the company is moving to the Dallas area as it centralizes operations there, Schulz said.

In August, First American National Default Outsourcing cut 169 jobs at a similar operation in Milwaukee, he said.

The First American Corp., a Fortune 500 company that traces its history to 1889, is the nation's largest data provider, according to the company's Web site. …

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