Carlyle Reported Out of the Bidding for Neuberger

The Carlyle Group appears to have lost interest in buying Neuberger Berman, Lehman Brothers‘ asset management unit. And it is unclear whether anyone else is interested besides two private equity firms, Bain Capital and Hellman & Friedman. Carlyle, the private equity firm that helped instigate the current round of bidding for Neuberger, has decided not to [...]

A Post-Bailout Roundup

We are in a post-bailout era as the administration in its waning days begins the hard work of actually implementing its slew of rescue programs. Hopefully, this means a more steady rhythm of government action, compared to the administration’s haphazard crisis response, something my colleague David Zaring and I call “government by deal.” Given the relative [...]

G.M., Ford and the Corporate Jet Factor

After drawing fire for how they got to last month’s hearings, the chief executives of Ford Motor Company and General Motors have said they are selling their corporate jets and driving down to Washington to present their turnaround plans to Congress. Rick Wagoner, the chief executive of G.M., will make the trip in an eco-friendly Chevrolet [...]

Yahoo Climbs on Report That Bid May Be Brewing

Shares of Yahoo rose as much as 16 percent on Tuesday afternoon after The Wall Street Journal reported that the former chief executive of AOL, Jonathan Miller, was trying to raise money to buy a portion or all of the Internet company. The stock later gave back some of those gains. Mr. Miller has talked [...]

Fed Extends 3 Emergency Loan Programs

The Federal Reserve announced Tuesday that it was extending the term of three emergency loan programs for three months, to April 30, saying it was making the move “in light of continuing strains in the financial markets.” The Fed said the loan programs involved were the Primary Dealer Credit Facility, the Asset-Backed Commercial Paper Money Market [...]

Lehman Executive Joins Sears Holdings

Scott Freidheim, a right-hand man to the chief executive of Lehman Brothers, is leaving that bankrupt investment bank to join another embattled company. Mr. Freidheim, the former co-chief administrative officer and executive vice president of Lehman Brothers, will become an executive vice president at Sears Holdings, the company announced Tuesday. Sears, which is led by the financier [...]

GE Capital’s Low-Leverage Diet

The financial arm of General Electric, GE Capital, is going to get a lot leaner as the credit crunch rolls on. That was the theme of Tuesday morning’s conference call, in which GE Capital executives outlined their plan to get the unit — a financial giant involved in aircraft leasing, commercial real estate lending and [...]

Simpson Thacher Names Five New Partners

Simpson Thacher & Bartlett, an adviser in lots of marquee mergers and buyouts, has named five new partners. In a sign of the times, none of them is a New York-based deal lawyer. Simpson’s latest class is smaller than the eight partners it elected a year ago and less than half the 13 partners it named [...]

John Paulson on Hedging and High School

“There’s more to come.” That is the not-so-cheery prediction from John Paulson, the star hedge-fund manager, about the meltdown that is ravaging the markets. Bloomberg News interviewed Mr. Paulson, who has proved remarkably good at anticipating — and profiting hugely from — the financial debacle, for an article on the best-performing hedge fund managers s...

G.E. Damps Down Earnings Expectations

General Electric said Tuesday that it expects its fourth-quarter profits to be at the low end of its previous guidance and warned that restructuring and other charges were likely to top $1 billion after taxes. The grim outlook was more evidence that, despite access to multiple federal aid programs and a $3 billion investment from Warren [...]