gistfile1.txt

[2013-03-26 04:20:21,116][DEBUG][action.bulk              ] [Fatale] [reloaded][0] failed to execute bulk item (index) index {[reloaded][news][UjRLaqaaSvORZLIZU2Yx6A], source[{"partnerName":"archiver","relatedSources":{"relatedSources":[{"Source":"Reuters","Link":null},{"Source":"Reuters","Link":null}]},"fetchTimeStamp":"18-10-2012 02:12:43","ACE-VERSION":"1.0.5","ExtractionAlg":"ReadabilitySnack","actualTimeStamp":"10-06-2010 01:17:00","wordCount":487,"Title":"Citi finds few buyers for unwanted retail cards","Tags":"News","Link":"http://www.moneycontrol.com/news/business/citi-finds-few-buyers-for-unwanted-retail-cards_463343.html","SourceName":"MoneyControl","ConceptTags":["Credit Card Loans","United States","John Grund","Chief Executive Vikram Pandit","Portfolio Brokers","Partner Cards","Citigroup Spokeswoman Shannon Bell","HSBC Holdings PLC","Industry Leader","Brokers Card Portfolio Sales","Higher-than-average Losses","Store Cards","Citigroup Inc","Banco Santander","Banco Santander Spokesman Peter Greiff","Fire-sale Prices","Credit Card Assets","Robert Hammer","Private Equity Firms","General Electric Co","Price Citigroup","Balance Sheets","Hammer Investment Bankers","Credit Card Businesses","Industry Consultant","Buyers","Credit Card Portfolios","Retailer Card Business","Credit Losses","Net Credit Losses","Label Credit Card Companies","GE Money Bank","Industry Analysts","Retailer Credit Cards","People","Credit Cards"],"Content":"<div class=\"gD_15n FL\" algoscore=\"299.0\">\n <table cellspacing=\"0\" width=\"185px\" align=\"left\" border=\"0\" class=\"MR15\"> \n  <tbody> \n   <tr> \n    <td> \n     <div> \n      <img src=\"/getBinaryFile.php?Id=994919\" border=\"0\" alt=\"Citi finds few buyers for unwanted retail cards\" /> \n     </div> </td> \n   </tr> \n  </tbody> \n </table> \n <p algoscore=\"38.0\">Citigroup Inc is having trouble finding buyers for its $50 billion portfolio of retailers' credit card loans, and it might end up holding onto the business for years, people familiar with the assets said.</p> \n <br /> \n <p algoscore=\"37.0\"> Buyers are reluctant to buy credit card assets of any kind now, because regulators are revamping rules for the industry, making profits more difficult to forecast.</p> \n <br /> \n <p algoscore=\"37.0\"> But the portfolio that Citigroup is selling is particularly difficult to unload, in part because it is big and because these types of cards are prone to higher-than-average losses.</p> \n <br /> \n <p algoscore=\"42.0\"> Citigroup once prided itself on being the industry leader in store cards, but in the first quarter of 2010, the bank's unwanted credit card businesses had net credit losses of $1.9 billion. The unwanted credit card assets include retail credit cards and about $5 billion worth of other partner cards.</p> \n <br /> \n <p algoscore=\"37.0\"> Citigroup is not willing to accept fire-sale prices that would-be buyers want, according to two people briefed in the matter who were not authorized to discuss it.</p> \n <br /> \n <p algoscore=\"33.0\"> Industry analysts and portfolio brokers said this kind of situation is common now.</p> \n <br /> \n <p algoscore=\"40.0\"> &quot;What Citi's trying to unload is some junk, and junk takes a lot longer to sell,&quot; said Robert Hammer, the chief executive of R.K. Hammer Investment Bankers, which brokers card portfolio sales and has managed private label credit card companies.</p> \n <br /> \n <p algoscore=\"32.0\"> &quot;It could take them a lifetime,&quot; he added.</p> \n <br /> \n <p algoscore=\"42.0\"> Citigroup spokeswoman Shannon Bell declined to comment, but pointed to the bank's efforts to clean up the portfolio. Net credit losses on Citigroup's unwanted credit card businesses have declined for the last three quarters, in part due to Citigroup's efforts to reduce the size of those assets.</p> \n <br /> \n <p algoscore=\"36.0\"> Citigroup's difficulties in selling the portfolio reflect how tricky it is for Chief Executive Vikram Pandit to remake the third-largest U.S. bank.</p> \n <br /> \n <p algoscore=\"38.0\"> Pandit hopes to shed some $500 billion of assets outside of Citigroup's main businesses, but as financial institutions around the globe shrink their balance sheets, there are few obvious buyers.</p> \n <br /> \n <p algoscore=\"44.0\"> Regulators frown on retailers buying credit card portfolios. Banks that specialize in retail cards, including HSBC Holdings PLC's U.S. arm and General Electric Co's GE Money Bank, are uninterested in taking on more assets, according to the two sources and John Grund, an industry consultant not briefed on the matter but familiar with retailer credit cards.</p> \n <br /> \n <p algoscore=\"36.0\"> GE put its own $30 billion retailer card business up for sale in late 2007 but did not find a buyer. Representatives for GE and HSBC declined to comment.</p> \n <br /> \n <p algoscore=\"43.0\"> Private equity firms and foreign banks that are expanding their operations in the United States, including Banco Santander, are more likely potential buyers for Citigroup's unwanted credit cards, according to one of the people briefed and to Grund, a partner at the card consulting firm First Annapolis Consulting.</p> \n <br /> \n <p algoscore=\"34.0\"> In the current market, those suitors are unlikely to pay the price Citigroup wants for the portfolio, they said.</p> \n <br /> \n <p algoscore=\"32.0\"> Banco Santander spokesman Peter Greiff declined to comment.</p> \n</div>","RedirectedLink":"http://www.moneycontrol.com/news/business/citi-finds-few-buyers-for-unwanted-retail-cards_463343.html","contentHash":1245181190}]}
org.elasticsearch.index.mapper.MapperParsingException: Failed to parse [relatedSources]
	at org.elasticsearch.index.mapper.core.AbstractFieldMapper.parse(AbstractFieldMapper.java:320)
	at org.elasticsearch.index.mapper.object.ObjectMapper.serializeObject(ObjectMapper.java:507)
	at org.elasticsearch.index.mapper.object.ObjectMapper.parse(ObjectMapper.java:449)
	at org.elasticsearch.index.mapper.DocumentMapper.parse(DocumentMapper.java:486)
	at org.elasticsearch.index.mapper.DocumentMapper.parse(DocumentMapper.java:430)
	at org.elasticsearch.index.shard.service.InternalIndexShard.prepareIndex(InternalIndexShard.java:318)
	at org.elasticsearch.action.bulk.TransportShardBulkAction.shardOperationOnPrimary(TransportShardBulkAction.java:158)
	at org.elasticsearch.action.support.replication.TransportShardReplicationOperationAction$AsyncShardOperationAction.performOnPrimary(TransportShardReplicationOperationAction.java:532)
	at org.elasticsearch.action.support.replication.TransportShardReplicationOperationAction$AsyncShardOperationAction$1.run(TransportShardReplicationOperationAction.java:430)
	at java.util.concurrent.ThreadPoolExecutor.runWorker(ThreadPoolExecutor.java:1145)
	at java.util.concurrent.ThreadPoolExecutor$Worker.run(ThreadPoolExecutor.java:615)
	at java.lang.Thread.run(Thread.java:722)
Caused by: org.elasticsearch.ElasticSearchIllegalArgumentException: unknown property [relatedSources]
	at org.elasticsearch.index.mapper.core.StringFieldMapper.parseCreateField(StringFieldMapper.java:276)
	at org.elasticsearch.index.mapper.core.StringFieldMapper.parseCreateField(StringFieldMapper.java:46)
	at org.elasticsearch.index.mapper.core.AbstractFieldMapper.parse(AbstractFieldMapper.java:307)
	... 11 more