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Student Loan Corp. 2Q Profit Increases

STAMFORD, Conn. — Educational lender Student Loan Corp., which is majority owned by Citigroup Inc., said Monday its second-quarter profit grew 26 percent primarily due to a gain on a loan securitization.

Second-quarter earnings climbed to $101.8 million, or $5.09 per share, from $80.9 million, or $4.05 per share, in the prior-year period. The improvement is mostly due to a $42.3 million gain related to the securitization of $2.2 billion in student loans, which was $13 million higher than the 2005 securitization.

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Chuck Shepherd : News of the Weird

Ron "King Suki" King won the U.S. checkers championship in June in Medina, Ohio, claiming the $6,000 first prize by emerging from a field of 41 competitors whose intensity rivals that of participants in more popular and complex games. King, the world "freestyle" champion, is known as the Muhammad Ali of checkers for trash-talking his opponents. Also competing was another world champion (in a form of checkers in which the first three moves are always at random), Alex "The Mad Russian" Moiseyev, who assured an Agence France-Presse reporter that, as in chess, the top players have to think 10 moves ahead. .

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