BUSINESS
By Ellen James Martin and Ellen James Martin,Staff Writer | August 25, 1992
Spain and Italy are potential areas of growth for PHH Corp.'s fleet management business over the next two years, with Mexico a possible growth area later, PHH Chairman Robert D. Kunisch said yesterday.But Mr. Kunisch, speaking after the company's annual meeting, said the exploration of new markets in Europe and Mexico must await conquest of the difficult -- yet promising -- German market.On a global scale, PHH manages more than 460,000 vehicles used by corporations. And while analysts consider its U.S. business in this field to be strong, the company is seeking to expand its scope around the globe, said Joachim Diedrich, senior vice president of European vehicle management services.
NEWS
By DeWitt Bliss and DeWitt Bliss,Sun Staff Writer | June 18, 1994
William B. Hendricks, retired vice chairman of the board and general counsel and secretary of the PHH Corp., died Wednesday of cancer at his home in Rockland. He was 73.He retired in 1983, 30 years after he joined the company that provides vehicle fleet, mortgage banking and executive relocation services primarily to businesses.He became secretary of PHH in 1957, vice president in 1958 and senior vice president in 1967. He was elected to the board in 1971 and was named vice chairman in 1976.
BUSINESS
By Kim Clark and Kim Clark,Sun Staff Writer | February 12, 1995
In the simple religion of Wall Street -- work hard, grow profits, and you'll be rewarded with an earthly paradise of high stock prices -- the folks at PHH Corp. feel a little like capitalism's version of Job.The company appears to have done just about everything right. It has reported 12 straight quarters of improved profits, raised dividends almost yearly since going public in 1958 and shows every sign of continued profitability.Yet PHH shares have suffered the investor's equivalent of a curse, with the stock price languishing below what it would bring the company were broken up and sold.
BUSINESS
By Ross Hetrick and Ross Hetrick,Sun Staff Writer | August 22, 1995
Boosted by more mortgage service sales to membership organizations, PHH Corp. yesterday reported a 10.8 percent increase in net income for its first fiscal quarter.The results marked the 15th consecutive quarterly increase for the Hunt Valley-based company and the fifth in a row that reached 10 percent or more."We are very pleased," Robert D. Kunisch, PHH's chairman and chief executive officer told about 200 stockholders at the company's annual meeting yesterday. "PHH is consistently meeting the changing needs of the marketplace."
BUSINESS
By Michael Dresser | September 20, 1991
Hunt Valley-based PHH Corp. will help the federal savings-and-loan cleanup agency unload 929 Texas homes under a contract that could open the door for millions of dollars of future government business.The Resolution Trust Corp. announced yesterday that it ha awarded the contract for disposition of the properties to PHH Asset Management and Southwest Harvard Group, a Hispanic-owned asset management company. The homes are either in conservatorship or receivership under the RTC Dallas office.
BUSINESS
By Liz Atwood and Liz Atwood,Staff Writer | April 15, 1992
A Baltimore County grand jury has indicted the former director of PHH Corp.'s tax department, charging him with embezzling nearly $540,000 from the Hunt Valley-based business-service company.Marion Holmes, 51, of the 300 block of Sherwood Road in Hunt Valley, was indicted Monday on three counts of theft for allegedly taking $538,228.37 between Jan. 14, 1988, and Aug. 14, 1991, according to Terry King, an assistant state's attorney in Baltimore County.PHH filed suit last year against Maryland National Bank and Signet Bank/Maryland, charging breach of contract and negligence for allegedly cashing or transferring 40 checks written on PHH accounts on behalf of Mr. Holmes.