The integration of Barclays Capital and Lehman Brothers’s North American investment banking team continued apace on Monday, as the British firm announced its deal-makers leadership team. Of the executives named in Barclays Capital’s announcement, all but a few are veterans of Lehman, which collapsed in September. All of the 15 sector verticals hail from Lehman, whose [...]
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GM (GM) distributed its turnaround plan to Congress. It was almost exactly what the market expected, but it fudges one key issue, which is what happens to the company's finances if it loses a great deal more market share. According to the firm, "GM is seeking a term bridge loan facility from the Federal government of $12 billion to cover operating requirements under a baseline forecast of 12 mi...
View SEC Filings View Insider Trading View Annual Reports Consolidated-Tomoka Land Co. (AMEX: CTO) directors may face some competition at the company’s next annual meeting. Wintergreen Advisors, which owns a 25% stake in the firm, made several proposals aimed at improving corporate transparency and generating shareholder value in a regulatory filing with the Securities and Exchange Commission....
Filed under: Politics, Comic Relief, Financial CrisisThe Baltic country of Latvia is struggling through the recession along with the rest of the world, but its leaders have taken an unusual approach to the situation. According to the Wall Street Journal, Latvia's Security Police recently detained economics lecturer Dmitrijs Smirnovs for two days for expressing pessimism about the current crisis...
Buy, Sell or Hold Insight: GM Remains a High Risk Profit Play – Even as it Files its Turnaround Plan Today
Tue, Dec 2, 11:31 AM ET
With America’s “Big Three” automakers all due to submit turnaround plans to Congress today (Tuesday) – a requirement if General Motor Corp. (GM), Ford Motor Co. (F), and Chrysler Corp., are to receive $25 billion in government loans – I couldn’t help but recall the moment eight years ago when I realized the U.S. auto industry was skidding toward a financial c...
Dec. 1 (Bloomberg) — Treasuries rose, pushing yields to record lows, as Federal Reserve Chairman Ben S. Bernanke said the central bank may purchase Treasuries and target long-term interest rates to combat the deepening recession. …and the monetizing of debt begins. I’ve talked extensively in several issues of Bourbon and Bayonets about the coming turmoil in long dates U.S. tre...
Boeing Co. engineers approve a four-year labor contract that promises to raise wages, improve benefits and give union leadership a voice on potential outsourcing.
With taxpayers’ money now sunk into struggling banks, can Main Street stomach the high salaries that some argue it takes to keep Wall Street’s leaders in place? One thing the financial crisis has demonstrated is that Wall Street’s old pay systems failed, Andrew Ross Sorkin writes in his latest DealBook column. But its failure raises [...]
Local United Auto Workers leaders from across the U.S. will hold an emergency meeting Wednesday to discuss concessions the union may make to help auto companies get government loans.
Automakers Major U.S. market indices held firmly positive through out the trading session. The gains still did not make up for the hefty losses realized in the markets yesterday but, it was a session in the hands of Bulls. Trading activity during the session was seen sluggish and lack luster. Auto sales data released during the trading session by General Motors (NYSE: GM) and Chrysler Corporati...