Triad Guaranty ends talks with Lightyear Capital to form new mortgage company - Forbes.com: "NEW YORK (Thomson Financial) - Triad Guaranty Inc. shares plummeted Thursday after the company said it has ended talks with Lightyear Capital LLC to form a new mortgage insurance company.
The stock sank 48.3% to a new 52-week low of $1.05 a share, trading on heavy volume.
Triad also said that Freddie Mac (nyse: FRE - news - people ) has denied the appeal of the suspension of a Triad subsidiary as an approved mortgage insurer. The subsidiary, Triad Guaranty (nasdaq: TGIC - news - people ) Insurance Corp., will stop issuing commitments for mortgage insurance effective July 15.
Triad plans to cut its work force by about 100 people in coming weeks..."
Norton's comment: Basicly they are shutting down in an orderly manner.
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