| PHH 4th-quarter profit climbs
MT. LAUREL, N.J.—PHH Corp. said late Thursday its profit climbed in the fourth quarter as it recorded lower expenses. PHH earned $12 million, or 21 cents per share, compared with profit of $1 million, or 3 cents per share, in the fourth quarter of 2006. Revenue slipped 11 percent to $550 million from $615 million, as total expenses fell to $582 million from $613 million. PHH runs three main businesses: a mortgage lending unit, a business that collects loan payments for other lenders and a truck rental company. Income from leasing its truck fleet sank 8 percent to $408 million. The company rented out fewer trucks because of shrinking demand from customers. Fees for collecting mortgage loans fell, and the value of PHH's contracts for collecting loan payments sank $277 million.
Historic organ returning to original home
After spending more than 40 years at its current home in Clute, a pipe organ that was once played in the 7th Street Theatre in Hoquiam, Wash., will make the journey back home with the assistance of several theater and organ enthusiasts.
The organ, a 2/4 Wurlitzer, was original to the theater when it opened and stayed there until there was no more use for it, 7th Street Theatre Association volunteer Lane Youmans said.
Betsy Seidel, also a volunteer with the association, tracked down the organ�s location and initiated contact with its most recent owner in Clute, who did not want to be named. They arrived Monday and spent the next two days preparing the organ to be shipped.
�I really appreciate that he is allowing five organ enthusiasts from Washington to come bring it home,� Seidel said.
Safford to put out qualification requests for police station
The city of Safford is embarking on a road the council approved in 2007 concerning the construction of a new police station.After Safford Mayor Ron Green read a statement Monday concerning allegations lodged against him regarding the Safford Commerce Park, he suggested the council begin the Request for Qualifications route. .
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