General Motors Inc. is sort of the anti-Ross Perot, the company that informs you that no matter what the circumstance, it still needs a boatload of money just to make getting up in the morning worth it. The automotive giant (ish) asked for $18 billion in federal loans, one-and-a-half times the size of what it asked for a few weeks ago, amid a 41% decline in auto sales in November. But the thin...
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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 [...]
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 [...]
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 of operating and support businesses at Sears Holdings, the company announced Tuesday. Sears, whic...
The Treasury yield curve is really starting to look ridiculous. I’m going to start looking closely at the UltraShort Lehman 20+ Trsy ProShares (TBT) and UltraShort Lehman 7-10 yr Trsy ProShares (PST) as possible shorting opportunities. I’ve got to believe that the bonds have rallied on anticipation that the Treasury is going to start making purchases on the long end of the curve....
Gradualism may end up being the failing global economy's worst enemy. Many analysts don't think that the Paulson plan's $700 billion war chest was enough. Obama's economic team may have to go back to Congress for more. The Fed has cut rates, but why hasn't it cut them faster? The same question can be asked of any major central bank in the world. China only announced its huge stimulus package tw...
The all-out bleeding ceased in November. Yes, it was still a painful month for some asset clases, but November offered a break from the across-the-board losses that humbled September and October. Bonds made all the difference. With the exception of high yield debt, bonds generally staged a comeback in November, providing some respite from dramatic declines otherwise still in force. U.S. bonds l...
Stocks in the news: C, YHOO, MSFT, GM, BA, DAL, RYAAY, AIG, WMT, JNJ ... (update)
Mon, Dec 1, 8:16 AM ET
Filed under: Deals, Microsoft (MSFT), Yahoo! (YHOO), Apple Inc (AAPL), Wal-Mart (WMT), General Motors (GM), Citigroup Inc. (C), Target Corp. (TGT), Johnson and Johnson (JNJ), Best Buy (BBY), Boeing Co (BA), Sears Holdings (SHLD), Amer Intl Group (AIG), Delta Air Lines (DAL)Citigroup Inc. (NYSE: C) plans to sell its Japanese trust banking unit NikkoCiti Trust and Banking for about 40 billion yen...
Is Richard Fuld Jr., who presided over the fall of Lehman Brothers, a victim of his own hubris or a convenient scapegoat? A long cover story in the latest issue of New York magazine looks at Mr. Fuld’s attempts to save the firm and suggests he is, in some sense, a victim. The article reconstructs Lehman’s [...]
Is Richard Fuld Jr., who presided over the fall of Lehman Brothers, a victim of his own hubris or a convenient scapegoat? A long cover story in the latest issue of New York magazine looks at Mr. Fuld’s attempts to save the firm and suggests he is, in some sense, a victim. The article reconstructs Lehman’s [...]