Kevin Dayhoff - Soundtrack Division of Old Silent Movies - www.kevindayhoff.net - Runner, writer, artist, fire and police chaplain. The mindless ramblings of a runner, journalist, and artist: National and International politics. For community see www.kevindayhoff.org. For art, writing and travel see www.kevindayhoff.com
Thursday, August 26, 2010
In Striking Shift, Small Investors Flee Stock Market
Saturday, May 08, 2010
Smoking Gun: Frank Memo Exposes Dem Campaign To Protect Financial Crisis Culprits
GOP Leader: “The Only Reason For Democrats To Continue Coddling Fannie Mae And Freddie Mac Is To Protect Themselves, Not American Taxpayers.”
Washington, May 6 - Just hours before one of the government mortgage companies responsible for triggering the financial meltdown reported that it will need another taxpayer bailout, one of its chief enablers on Capitol Hill, House Financial Services Chairman Barney Frank (D-MA), issued a memo urging the Obama Administration to circle the wagons.
For years, Republicans consistently raised red flags about Fannie and Freddie’s financial condition and proposed responsible reforms only to be thwarted by Democrats such as Chairman Frank who have deep political ties to the worst offenders. These same powerful Democrats are now pushing for a financial reform bill that doesn’t even address the need to fix these government mortgage companies. Now, with Freddie Mac set to ask American taxpayers for another massive bailout check, Chairman Frank is pleading with fellow Democrats to hold the line.
According to Politico, Chairman Frank’s memo – which was not written for public consumption expresses concern “that the GOP is scoring points with its attacks on housing giants Fannie Mae and Freddie Mac, and he’s urging the White House to fight back.” House Republican Leader John Boehner (R-OH) responded to Chairman Frank’s memo and Washington Democrats’ coordinated effort to protect Fannie Mae and Freddie Mac:
“After freely enabling the high-risk lending that allowed Fannie Mae and Freddie Mac to run our economy into the ground, Washington Democrats are shamelessly propping up their political benefactors at taxpayer expense. The only reason for Democrats to continue coddling Fannie Mae and Freddie Mac is to protect themselves, not American taxpayers. But with Americans clamoring for an end to backroom deals and permanent bailouts, Chairman Frank and Washington Democrats have nowhere left to hide.”
A must-read editorial in today’s Wall Street Journal notes how “reforming the financial system without fixing Fannie and Freddie is like declaring a war on terror and ignoring al Qaeda”:
“One sign that the White House financial reform is less potent than its advertising claims is that it doesn't even attempt to reform the two companies at the heart of the housing mania and panic, Fannie Mae and Freddie Mac. …
“Unreformed, they are sure to kill taxpayers again. Only yesterday, Freddie said it lost $8 billion in the first quarter, requested another $10.6 billion from Uncle Sam, and warned that it would need more in the future. This comes on top of the $126.9 billion that Fan and Fred had already lost through the end of 2009. The duo are by far the biggest losers of the entire financial panic—bigger than AIG, Citigroup and the rest.
“From the 2008 meltdown through 2020, the toxic twins will cost taxpayers close to $380 billion, according to the Congressional Budget Office's cautious estimate. The Obama Administration won't even put the companies on budget for fear of the deficit impact, but it realizes the problem because last Christmas Eve it raised the $400 billion cap on their potential taxpayer losses to . . . infinity. Moreover, these taxpayer losses understate the financial destruction wrought by Fan and Fred.”
In an editorial last week, The Christian Science Monitor asked the obvious question:
“How can Wall Street itself be reformed without a Fannie-Freddie overhaul? The US mortgage market remains the second largest market for securities in global finance. The two GSEs represent nearly half of the residential mortgage market. And even as Mr. Obama promises no repeat of the big bailouts of 2008-09, he’s still putting money into these big players.”
Much like the backroom deal-laden health care law President Obama and the Democratic Congress forced upon a nation that didn’t want it, President Obama’s Wall Street bailout bill contains a host of special-interest carve-outs and loopholes designed to favor Democrats’ most powerful campaign contributors, bureaucrats, and political allies. Today’s Politico takes a look out how “when Democrats set out to reform Wall Street, they also included a few provisions that benefit their allies in the labor movement.” To learn more, visit the GOP Leader Blog.
House Republicans have listened to the American people and introduced comprehensive financial reform legislation that would end the endless bailouts, reform Fannie Mae and Freddie Mac, and hold Wall Street accountable. For more information on the House Republican plan, click here.
http://republicanleader.house.gov/News/DocumentSingle.aspx?DocumentID=184451
*****
Kevin Dayhoff Soundtrack: http://kevindayhoff.blogspot.com/ = http://www.kevindayhoff.net/ Kevin Dayhoff Art: http://kevindayhoffart.blogspot.com/ or http://kevindayhoffart.com/ = http://www.kevindayhoff.com/ Kevin Dayhoff Westminster: http://kevindayhoffwestgov-net.blogspot.com/ or http://www.westgov.net/ = www.kevindayhoff.org Twitter: https://twitter.com/kevindayhoff Twitpic: http://twitpic.com/photos/kevindayhoff Kevin Dayhoff's The New Bedford Herald: http://kbetrue.livejournal.com/ = www.newbedfordherald.net Explore Carroll: www.explorecarroll.com The Tentacle: www.thetentacle.com
Thursday, May 06, 2010
TVNewser: Greece Protests Drive Dow Down. Biz Nets, Cable Nets go Full-Bore
mediabistro.com's DAILY TVNEWSER FEED
http://www.mediabistro.com/
------------------------------
Thursday, May 06
GREECE PROTESTS DRIVE DOW DOWN. BIZ NETS, CABLE NETS GO FULL-BORE
At 2:48pmET, as the cable news channels showed live pictures of riots in Athens, Greece, the Dow Jones Industrial Average plunged 995 points. Several correspondents from the business channels began appearing on the news channels, including CNBC's Carl Quintanilla from Athens and Trish Regan from Lisbon both phoning in to MSNBC, while CNNMoney.com's Poppy Harlow appeared on CNN. While FBN's Nicole Petallides and Eric Bolling went on FNC. > At 2:58pmET, ABC News broadcast a...
http://www.mediabistro.com/
MORNING SHOW RATINGS: WEEK OF APRIL 26
NBC's "Today" show was again the top-rated morning show last week. Season-to-date, "Today" is the only program to show increases in the demo. NBC and ABC's "Good Morning America" were both down a bit week-to-week, while CBS "Early Show" saw an increase. All three were down slightly in the demo. The averages for the week of April 26: Total Viewers: NBC: 5.22M / ABC: 4.35M / CBS: 2.56M A25-54 rating: NBC: 2.44M / ABC: 1.73M...
http://www.mediabistro.com/
SUNDAY SHOW RATINGS: MAY 2
NBC's "Meet the Press," which launched it's new HD set this week (more here), was the top rated morning show this week. "MTP" as well as CBS' "Face the Nation" and ABC's "This Week" saw week-to-week growth in total viewers. Cable and network rebroadcasts of "MTP" drew an additional 1,105,000 viewers. "Fox News Sunday" drew an additional 1.342M million total viewers on the 6pm cable replay (the 2pm airing was preempted by live coverage) and...
http://www.mediabistro.com/
Thursday, May 06
AFGHAN ORPHANS SING HAPPY BIRTHDAY TO BRIAN WILLIAMS
•A group of orphans in Afghanistan -- whom "NBC Nightly News" anchor Brian Williams profiled last year -- sent the newsman a special video for his 51st birthday. The children's orphanage was featured in a "Making a Difference" segment, which helped raise over $50,000. Video after the jump. (h/t HuffPost)...
http://www.mediabistro.com/
'AC360' AMERICAN AL-QAEDA SPECIAL; O'BRIEN'S DOCUMENTARY REVIEWED
•Next week on "AC360," CNN correspondent Nic Robertson examines the life of Bryan Neal Vinas, a young man from Long Island who was convicted of supporting Al-Qaeda terrorist plots. Release in the jump. Another note, Anderson Cooper anchors the show from Nashville, Tennessee tonight following flooding in the area. Also, NY Daily News' David Hinkley reviews Soledad O'Brien's "touching new documentary 'Rescued.'"...
http://www.mediabistro.com/
SIGHTINGS: MATT LAUER
From the tipbox, 11:13amET: Matt Lauer spotted in the lobby of News Corp./Fox News building... But since it's across the street from where he works, he could just be headed to Wendy's for a Frosty. > Update from the tipster: Lauer was headed into an elevator inside the Fox building...sans Frosty. > Update 2: from "Today" show Executive Producer Jim Bell: We went to a screening of "Wall Street: Money Never Sleeps" in advance of...
http://www.mediabistro.com/
Thursday, May 06
ROLAND MARTIN'S ASCOT MAY BE JON STEWART'S FAVORITE THING ON CNN
Jon Stewart spent five minutes on "The Daily Show" last night discussing CNN's Roland Martin and his genteel, on-air ascot. Stewart can barely contain himself for most of the segment, saying, "It may be my favorite thing I've seen on CNN." CNN's recent ratings issues also get a couple of jabs, but its mostly about the ascot. As regular news viewers know, Martin is no stranger to splashy fashion, on air and off. (Martin's been...
http://www.mediabistro.com/
KNBC NEWSROOM STAFFER WINS MEGA MILLIONS
She wanted KFC, he wanted BBQ, now they're millionaires. Los Angeles KNBC-TV overnight assignment editor Jacki Cisneros and her husband Gilbert, who'd recently lost his job, were the lucky winners of the $266 million jackpot in California's Mega Millions lottery. Though they initially tried to stay anonymous, the couple revealed their identity last night and sat down with the "Today" show's Matt Lauer and Meredith Vieira this morning. Jacki was still in the office today...
http://www.mediabistro.com/
WAS CBS CORP.'S LES MOONVES OVERPAID?
In a study for Bloomberg News, pay expert Graef Crystal looked at the compensation of 271 CEOs and found the average slipped 4.7% last year to $9.95 million, with extremes ranging from $43.2 million for CBS Corp.'s Leslie Moonves to $245,322 for Google Inc.'s Eric Schmidt. Using formulas developed over 30 years in the business, Crystal crunched the numbers and found CBS overpaid Moonves, who is married to CBS Early Show co-anchor Julie Chen, by...
http://www.mediabistro.com/
Thursday, May 06
PERFECT YOUR DEMO REEL
Next Monday evening, mediabistro.com is offering a one-night-only workshop in New York City on perfecting your television news demo reel. "CBS Morning News" anchor and "Early Show" correspondent Michelle Gielan will instruct you on how to best assemble and present one of the most essential tools in getting an on-air gig. The interactive workshop is limited to 12 students, so if you're interested go here for the full details on how to sign up. And...
http://www.mediabistro.com/
'MORNING EXPRESS' ON A QUIET RATINGS STREAK
April marked a small milestone for HLN's "Morning Express with Robin Meade" in the cable morning show race. Though still trailing the morning leader, FNC's "Fox & Friends," by 131,000 demo viewers (and a considerable 653K total viewers), "Morning Express" has now finished ahead of MSNBC's "Morning Joe" for a full year in the A25-54 demo. It's also finished ahead of CNN's "American Morning" consistently. In April, "Morning Express" averaged 316,000 total viewers with 188,000...
http://www.mediabistro.com/
Wednesday, May 05
JOHN MCKENZIE LEAVING ABC NEWS
ABC News medical correspondent John McKenzie is leaving the network. McKenzie is one of more than 300 ABC News employees who took a buyout. He'll remain with the network for another couple months. McKenzie was brought to ABC News by the late Peter Jennings in 1980. Jennings hired McKenzie away from Canada's CTV to cover the Solidarity movement in Warsaw, Poland. McKenzie returned to the U.S. and was a Boston-based correspondent from 1982-1988. He later...
http://www.mediabistro.com/
**
To read more on TVNewser:
http://www.mediabistro.com/
*****
Kevin Dayhoff Soundtrack: http://kevindayhoff.blogspot.com/ = http://www.kevindayhoff.net/ Kevin Dayhoff Art: http://kevindayhoffart.blogspot.com/ or http://kevindayhoffart.com/ = http://www.kevindayhoff.com/ Kevin Dayhoff Westminster: http://kevindayhoffwestgov-net.blogspot.com/ or http://www.westgov.net/ = www.kevindayhoff.org Twitter: https://twitter.com/kevindayhoff Twitpic: http://twitpic.com/photos/kevindayhoff Kevin Dayhoff's The New Bedford Herald: http://kbetrue.livejournal.com/ = www.newbedfordherald.net Explore Carroll: www.explorecarroll.com The Tentacle: www.thetentacle.com
Friday, April 23, 2010
Washington Post: News Alert: Goldman Sachs readies forceful response
09:35 PM EDT Friday, April 23, 2010
--------------------
Goldman Sachs is preparing its most detailed defense yet to allegations that it misled clients in its mortgage securities business, arguing that it was unsure whether housing prices would rise or fall and did not take any action at odds with the interests of its clients.
An internal Goldman document, prepared for senior executives and obtained by The Washington Post, addresses the criticism that the bank invested its own money betting against the housing market while simultaneously urging clients to invest in securities that would increase in value only if the housing market did.
For more information, visit washingtonpost.com:
http://link.email.
Wednesday, April 21, 2010
Testimony Could Undercut SEC Charge Against Goldman
Paulson Confronts Goldman Fallout
Paulson reassures on Goldman role
Goldman is accused of defrauding investors by failing to say that prominent hedge fund manager John Paulson bet against a Goldman subprime debt product that he helped design.
Goldman is being investigated by the Securities and Exchange Commission (SEC) and Britain's market watchdog, which launched its own probe on Tuesday. Its shares are down 13 percent since the SEC laid its charges, and closed 2 percent lower on Tuesday despite thumping quarterly earnings expectations.
Goldman's troubles also caused political reverberations.
A top Republican congressman questioned whether politics affected the timing of the government's case, while in Britain, the Liberal Democrat party's leader said Goldman should be banned from UK government contracts until the case is settled.
Paulson, in a conference call on Monday and followed up with a letter to investors late on Tuesday, says neither he nor anyone else at the firm had received a so-called Wells notice indicating that charges might be filed against the fund, several investors who listened to the call said.
No one had yet notified the $32 billion fund of their intentions to pull money out, they said.
Read the entire article here: http://www.reuters.com/article/idUSTRE63K0C620100421?feedType=nl&feedName=usbeforethebell
- Paulson reassures on Goldman role 7:14am EDT
- WRAPUP 1-Paulson reassures on Goldman role; earnings eclipsed 12:23am EDT
- Arizona passes tough illegal immigration law 19 Apr 2010
- Village burned, looted in Kyrgyz ethnic violence 20 Apr 2010
- Apple seeks return of lost iPhone prototype 20 Apr 2010The case against Goldman Sachs may prove to be more rare than initially believed, a close reading of legal documents in the matter reveals. Full Article
- Why Goldman didn’t see the SEC suit coming
- Don't bank on clients to punish Goldman
- Strategies for trading Goldman Sachs securities
- Ex-Goldman employee surfaces in SEC complaintApr 20, 2010
- Time to tear down the wall around Goldman?Apr 20, 2010
- Apple seeks return of lost iPhone prototypeApr 20, 2010
- Village burned, looted in Kyrgyz ethnic violenceApr 20, 2010
- FX volatility, China drive companies to hedge moreApr 20, 2010
- Businesses You Can Start at Home 07 Apr 2010
- Apple seeks return of lost iPhone prototype 20 Apr 2010
- Arizona passes tough illegal immigration law 19 Apr 2010
- Added sugar increases heart risks: study 20 Apr 2010
- Iranian missile may be able to hit U.S. by 2015 19 Apr 2010
- Businesses You Can Start at Home
Monday, April 05, 2010
Marketplace Midday Update
THE NUMBERS as of 2:15 EDT
DOW +29.02; NASDAQ +22.01; S&P 500 +7.61
Click here to see the latest numbers in real time.
- Geithner delays exchange rate report
- Apple sells more than 300,000 iPads on Saturday
- Housing barometer shows strong signs for spring
- CPSC, HUD tell homeowners to remove Chinese drywall
STORIES FROM MARKETPLACE MORNING REPORT
Ready for 3-D?
You may not have a 3-D TV set, but that hasn't stopped broadcasters from filming in three dimensions. Stacey Vanek-Smith reports.
Getting serious about smart meters
Smart meters can show you which appliances suck up the most power, and big companies want government help to install them in more homes. Brett Neely reports.
Calculating returns of the TARP
Money from the Troubled Asset Relief Program is starting to return to the U.S. Treasury. How do the numbers stack up? Bob Moon talks with Fortune Magazine's Allan Sloan.
LATER TODAY ON MARKETPLACE
- Many churches teach that the body is a temple for the spirit, so faith-based fitness programs have exploded over the last two decades. But the holy union of faith and fitness is raising some questions. Tanya Ott reports.
- Strawberries are selling for a lot less than usual these days, but a good deal for you means a bad year for some farmers. Florida farmer Gary Wishnatzki talks with Kai Ryssdal about how his strawberry season has shaped up this year and why some farmers are destroying their crops.
- Subway is rolling out a breakfast menu and everyone from Burger King to Starbucks has been stepping up their morning offerings. Stacey Vanek-Smith reports eggs seem to be the latest economic indicator.
MARKETPLACE MONEY PERSONAL FINANCE
- A new generation of bills
- The impact of student loan reform
- I'm going to Canada for my health care
- Where is the housing market now?
- The home loan modification minefield
- Employer lends a financial helping hand
To listen and read the rest of Marketplace Money's stories, go here.
*****
Kevin Dayhoff Soundtrack: http://kevindayhoff.blogspot.com/ = http://www.kevindayhoff.net/ Kevin Dayhoff Art: http://kevindayhoffart.blogspot.com/ or http://kevindayhoffart.com/ = http://www.kevindayhoff.com/ Kevin Dayhoff Westminster: http://kevindayhoffwestgov-net.blogspot.com/ or http://www.westgov.net/ = www.kevindayhoff.org Twitter: https://twitter.com/kevindayhoff Twitpic: http://twitpic.com/photos/kevindayhoff Kevin Dayhoff's The New Bedford Herald: http://kbetrue.livejournal.com/ = www.newbedfordherald.net Explore Carroll: www.explorecarroll.com The Tentacle: www.thetentacle.com
Wednesday, February 03, 2010
DealBook: Dodd Calls Obama Plan Too Ambitious
The New York Times
Wednesday, February 3, 2010
------------------------------
For updates throughout the day, visit:
http://dealbook.blogs.nytimes.
------------------------------
To view the latest DealBook headlines on
your mobile device, go to:
http://mobile.nytimes.com/
------------------------------
For tips, feedback: e-mail dealbook@nytimes.com;
1. Top Story: Dodd Calls Obama Plan Too Ambitious
2. M & A: MetLife Confirms Talks Over A.I.G. Unit
3. Banking: From Sydney: Interest Rates and Indiscretion
4. Private Equity: Istithmar Said to Shop Port Unit
5. Hedge Funds: Galleon Case Informant Faces S.E.C. Charges
6. Offerings: A Word of Caution on New Russian I.P.O.s
7. Venture Capital: Agnilux? It Means, 'Won't Say a Peep'
8. Legal: In Court, Challenges of Madoff Trustee's Plans
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------------------------------
1. Top Story: Dodd Calls Obama Plan Too Ambitious
------------------------------
Christopher J. Dodd, the chairman of the Senate Banking Committee,
warned that the Obama administration's new proposals to rein in Wall
Street firms ran the risk of derailing months of delicate negotiations
over overhauling financial regulations.
"It's not a movable feast," the chairman, Christopher J. Dodd, told
Paul A. Volcker, the former Federal Reserve chairman, who has become an
influential outside adviser to President Obama. "It's adding to the
problems of trying to get a bill done," he said at the end of a hearing
on the proposals, after all the other committee members had already
left, The New York Times reports.
Mr. Dodd, Democrat of Connecticut, added that the administration was
"getting precariously close" to excessive ambition for the legislation.
"I don't want to be in a position where we end up doing nothing because
we tried to do too much," he said.
Go to Article from The New York Times:
http://www.nytimes.com/2010/
Mr. Volcker pushed his plan on Tuesday to restrict the investment
activities of large banks, telling the Senate Banking Committee that
there was no "rationale for public funds -- taxpayer funds --
protecting and supporting essentially proprietary and speculative
activities."
Go to Item from DealBook:
http://dealbook.blogs.nytimes.
Does former Mr. Volcker know the difference between private equity
firms and hedge funds? One blogger wants to know.
Go to Article from Private Equity Analyst via The Wall Street Journal:
http://blogs.wsj.com/
Read More
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Add a Comment
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2. M & A: MetLife Confirms Talks Over A.I.G. Unit
------------------------------
MetLife on Tuesday confirmed that it is in talks with the American
International Group to buy a major life insurance unit, commonly known
as Alico.
Go to Item from DealBook:
http://dealbook.blogs.nytimes.
Go to MetLife Press Release (PDF):
http://www.metlife.com/assets/
Go to Article from Reuters via The New York Times:
http://www.nytimes.com/
Go to Previous Item from DealBook:
http://dealbook.blogs.nytimes.
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http://dealbook.blogs.nytimes.
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-----
Britain's consumer watchdog has asked for a say in the planned merger
of the U.K. arms of France Telecom's Orange and Deutsche Telekom's
T-Mobile, raising prospects of at least a delay to any deal.
Go to Article from Reuters via The New York Times:
http://www.nytimes.com/
Go to Article from The Financial Times:
http://www.ft.com/cms/s/0/
Go to Press Release from the O.F.T.:
http://www.oft.gov.uk/news/
Go to Related Item from DealBook:
http://dealbook.blogs.nytimes.
Read More
http://dealbook.blogs.nytimes.
Add a Comment
http://dealbook.blogs.nytimes.
-----
Pearson, owner of The Financial Times, has bought Medley Global
Advisors, a provider of macroeconomic intelligence to hedge funds and
banks, as the company shifts emphasis from advertising-funded
publications to subscription services.
Go to Article from Reuters via The New York Times:
http://www.nytimes.com/
Go to Press Release from Pearson:
http://www.pearson.com/media-
Read More
http://dealbook.blogs.nytimes.
Add a Comment
http://dealbook.blogs.nytimes.
-----
Bank of New York Mellon is growing, but at a price, Breakingviews says,
and PNC's shareholders seem to be getting the better end of the
transaction.
Go to Article from Breakingviews via The New York Times:
http://www.nytimes.com/2010/
Read More
http://dealbook.blogs.nytimes.
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http://dealbook.blogs.nytimes.
-----
Kraft declared victory on Tuesday in its pursuit of Cadbury, announcing
that it has won widespread support from the British confectioner's
shareholders.
Go to Item from DealBook:
http://dealbook.blogs.nytimes.
Hershey defended its decision to back away from a Cadbury bid and a
bigger stake in the global confectionery market, saying it remained
confident about its growth prospects and was raising its dividend.
Go to Article from Reuters via The New York Times:
http://www.nytimes.com/
Read More
http://dealbook.blogs.nytimes.
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3. Investment Banking: From Sydney: Interest Rates and Indiscretion
------------------------------
As Chris Bath, an announcer for 7 News, spoke with Martin Lakos on live
television about the possibility of the Australian central bank
eventually lifting interest rates, a Macquarie employee was looking at
what appear to be semi-nude photographs in the background.
Go to Item from DealBook:
http://dealbook.blogs.nytimes.
Go to Article from The Australian:
http://www.theaustralian.com.
Go to Article from Bloomberg News:
http://www.bloomberg.com/apps/
Go to Video from 7 News via YouTube:
http://www.youtube.com/watch?
Read More
http://dealbook.blogs.nytimes.
Add a Comment
http://dealbook.blogs.nytimes.
-----
Lazard, the independent investment bank, reported a $54.9 million loss
for its fourth quarter, as the firm took charges related to changes in
its compensation policies and stock payouts tied to the death of its
former chief executive, Bruce Wasserstein.
Go to Item from DealBook:
http://dealbook.blogs.nytimes.
Go to Lazard Press Release via Business Wire:
http://www.businesswire.com/
Read More
http://dealbook.blogs.nytimes.
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http://dealbook.blogs.nytimes.
-----
Bank of America has approved more than $4 billion in 2009 pay for its
investment bankers and traders, according to The Wall Street Journal.
Go to Article from The Wall Street Journal:
http://online.wsj.com/article/
Go to Article from Reuters via The New York Times:
http://www.nytimes.com/
The bank is also poised to hire 2,000 retail brokers this year, The
Financial Times reported, citing unidentified sources.
Go to Article from The Financial Times:
http://www.ft.com/cms/s/0/
Read More
http://dealbook.blogs.nytimes.
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http://dealbook.blogs.nytimes.
-----
Mitsubishi UFJ Financial Group, Japan's top bank, swung to profit in
the quarter ending Dec. 31, buoyed by trading gains and an improvement
in its stock portfolio, and kept its full-year forecast.
Go to Article from Reuters via The New York Times:
http://www.nytimes.com/
Go to Press Release from Mitsubishi UFJ:
http://www.mufg.jp/english/ir/
Read More
http://dealbook.blogs.nytimes.
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http://dealbook.blogs.nytimes.
-----
What are the odds that 2010 will be as benign as last year for the
world's economies? In his latest column, Thomas Friedman writes that
the odds are low, and wonders whether the struggle between banks and
President Obama has a win-win resolution.
Go to Op-Ed from The New York Times:
http://www.nytimes.com/2010/
Read More
http://dealbook.blogs.nytimes.
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http://dealbook.blogs.nytimes.
-----
The Financial Services Authority of Britain has told banks in the City
to cooperate in deferring 60 percent of all pay, regardless of
contractual obligations, or risk having their banking licenses
withdrawn, The Telegraph reports, citing unidentified sources.
Go to Article from The Telegraph:
http://www.telegraph.co.uk/
Goldman Sachs's London-based partners expect the investment bank to
make them whole through stock grants, after having their 2009 bonuses
capped, The New York Post reported.
Go to Article from The New York Post:
http://www.nypost.com/p/news/
Read More
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http://dealbook.blogs.nytimes.
-----
The PNC Financial Services Group, one of the largest regional banks,
said Tuesday that it would pay back $7.6 billion in government bailout
money to the Treasury Department.
Go to Item from DealBook:
http://dealbook.blogs.nytimes.
Read More
http://dealbook.blogs.nytimes.
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http://dealbook.blogs.nytimes.
-----
Galileo Capital Management has started LGBT Capital, a specialist
corporate advisory and investment management unit that will focus
exclusively on the lesbian, gay, bisexual and transgender consumer
market.
Go to Item from DealBook:
http://dealbook.blogs.nytimes.
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http://dealbook.blogs.nytimes.
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http://dealbook.blogs.nytimes.
4. Private Equity: Istithmar Said to Shop Port Unit
------------------------------
Dubai World's investment arm Istithmar has put port and shipping agent
Inchcape Shipping Services up for sale for $600 million to $700 million
and has attracted interest from private equity groups, The Financial
Times reported Wednesday.
Go to Article from The Financial Times:
http://www.ft.com/cms/s/0/
Go to Article from Reuters:
http://www.reuters.com/
Read More
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http://dealbook.blogs.nytimes.
-----
Odyssey Investment Partners said Tuesday that it had inked a deal to
buy Wencor Group, a commercial distributor and maker of aircraft parts.
Go to Article from The Salt Lake Tribune:
http://www.sltrib.com/
Go to Article from The Deal (Subscription Required):
http://www.thedeal.com/
Go to Press Release from Odyssey via Earthtimes:
http://www.earthtimes.org/
Read More
http://dealbook.blogs.nytimes.
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-----
Avista Capital Partners, a private equity firm specializing in energy,
healthcare and media investments, said on Tuesday that it has hired
former Bush administration official Jim Nussle to its advisory board.
Go to Item from DealBook:
http://dealbook.blogs.nytimes.
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5. Hedge Funds: Galleon Case Informant Faces S.E.C. Charges
------------------------------
David R. Slaine, a former Wall Street hedge fund manager and head of
Nasdaq trading at Morgan Stanley who secretly recorded conversations
for the government in the Galleon Group insider trading case, was
accused of insider trading by the Securities and Exchange Commission on
Tuesday.
Go to Item from DealBook:
http://dealbook.blogs.nytimes.
The Securities and Exchange Commission admitted in court filings that
federal prosecutors mistakenly sent the agency confidential wiretap
information from the criminal insider trading case against Galleon
Group founder Raj Rajaratnam.
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-----
The hedge fund Paulson & Co., run by John A. Paulson, has received an
information request from the Securities and Exchange Commission, The
Financial Times reported, citing unidentified sources.
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Harold E. Ford Jr.'s potential bid for New York Senator Kirsten E.
Gillibrand's seat has touched off a war for the city's richest donors,
especially those on Wall Street, as both camps race to nail down
financial support and demonstrate the breadth of their Rolodexes.
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A key U.S. lawmaker, Senator Maria Cantwell of Washington, is set to
join forces with several business groups on Wednesday to call for
Congress to end the "reckless speculation" in commodity markets as the
Senate prepares to take on financial reform.
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The hedge fund and private equity industry may not have been too
pleased with some of the proposals put forth by President Barack Obama
in his 2011 budget blueprint Monday.
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6. I.P.O.s/Offerings: A Word of Caution on New Russian I.P.O.s
------------------------------
Russian initial public offerings are set for a comeback, and investors
should be able to drive a hard bargain, Breakingviews says.
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Investors rallied on Tuesday behind signs of stability in the housing
sector and indications that businesses had bolstered revenue, lifting
stocks for a second day.
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China First Heavy Industries set its $1.67 billion Shanghai initial
public offering price below the top of its range, the first to do so
since China resumed I.P.O.s last June, and a sign of growing realism as
markets weaken and regulators demand more rational pricing.
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7. Venture Capital: Agnilux? It Means, 'Won't Say a Peep'
------------------------------
There's only one thing more frustrating for reporters than a stealth
start-up, and that's a stealth start-up run by former Apple employees.
That would be Agnilux, a secretive venture populated by chip designers.
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Silicon Valley's venture capitalists and their investors are finally
feeling the full effect of the dot-com crash a decade ago, thanks to
the industry's long-term approach to tracking returns.
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Denham Capital said Tuesday that it has invested an additional $108
million in Vulcan Power, a developer of geothermal energy projects.
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8. Legal: In Court, Challenges of Madoff Trustee's Plans
------------------------------
Victims of Bernard L. Madoff got their day in court to challenge how
Irving H. Picard, the trustee in charge of dividing up what can be
salvaged from Mr. Madoff's record-setting scheme, is calculating
investor losses.
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A federal judge in Manhattan dismissed all of the Securities and
Exchange Commission's civil fraud complaints against Cohmad Securities,
a small brokerage firm that the S.E.C. said had played a role in the
long-running Ponzi scheme.
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http://www.nytimes.com/2010/
Britain's Serious Fraud Office said Tuesday that it would not pursue
legal action against the British operations of Mr. Madoff, now in jail
in the United States.
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-----
The Obama administration is prepared to impose fees on financial firms
for as long as necessary to ensure that every cent spent on bailing out
banks is repaid, Treasury Secretary Timothy F. Geithner said.
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Moody's Investors Service said Tuesday that unless the U.S. government
makes more moves to decrease the budget deficit or the economy improves
more than anticipated, the government's ''Aaa'' bond rating will
eventually be put under pressure.
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-----
The American International Group has agreed to cut employee bonuses by
$20 million and will distribute about $100 million on Wednesday,
according to people familiar with the negotiations.
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http://www.nytimes.com/2010/
A.I.G., which was saved from collapse by a $180 billion government
bailout, said Tuesday that it had named a former top lawyer from Lehman
Brothers as its general counsel.
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Representative Barney Frank, chairman of the House Financial Services
Committee, contends that regulators should force companies to disclose
the compensation for their best-paid employees, potentially forcing
Wall Street to reveal how much top traders and money managers earn.
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