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Daily Archives: September 15, 2008

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Take-Two (TTWO) Screws Shareholders, Shares Down Almost 30%

Posted: September 15, 2008 at 8:42 am

Take-Two Interactive (TTWO) could have taken an overly generous offer from Electronic Arts (ERTS). Instead, it held out for a higher price and hinted that it had other buyers. The ...
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Major Financials Crushing Their Own Stocks (MER, BAC, LEH, AIG, C, WM, MS, GS)

Posted: September 15, 2008 at 8:05 am

Covering financial stocks this morning looks a bit like an assassination happening live on television.  Futures are being pulled sharply lower by the financial stocks melting down.  We are going ...
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95129c

China Cuts Rates, Europe Central Banks Open Vaults

Posted: September 15, 2008 at 6:35 am

Central banks in Europe said they were ready to put billions of dollars into the financial markets to ease the current credit crisis.According to The New York Times, "The central ...
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Merrill

How Much Will John Thain Get For Selling Merrill Lynch (MER): Probably Not Much

Posted: September 15, 2008 at 6:24 am

When Merrill Lynch (MER) CEO John Thain signed the employment agreement that made him the S&P 500's best-paid CEO of 2007, shares of Merrill were trading at more than $55 ...
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Aig

Can AIG (AIG) Pay Back $40 Billion? Not Likely

Posted: September 15, 2008 at 5:10 am

AIG (AIG) may lose over $20 billion for the trailing four quarters ending with the current period. It says the unprecedented credit crisis bought on by the failure of Lehman ...
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Wamu

Washington Mutual (WM) Bail-Out Could Cost $24 Billion

Posted: September 15, 2008 at 4:32 am

A bail-out of Washinton Mutual (WM) could cost tax-payers another $24 billion. According to Bloomberg, Richard Bove, an analyst at Ladenburg Thalmann & Co., said the federal government may have ...
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Siri

Saving Sirius XM (SIRI) In A Credit Crunch: Mel Kamazin’s Last Stand

Posted: September 15, 2008 at 4:27 am

Mel Karmazin, CEO of the new Sirius XM (SIRI) satellite radio company, gone public with his plan to fix the firm. Shares in Sirius have traded around $.90 over the ...
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A Farmer’s And Truck Driver’s Guide To Lehman’s (LEH) Failure

Posted: September 15, 2008 at 4:04 am

Lehman (LEH) says it will go into Chapter 11. Richard Fuld, the company's CEO, will almost certainly end up being loathed more than the heads of Drexel, Long-Term Capital Management, ...
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US Financials Trading in Europe: Huge Sell-Off, LEH Down 84%

Posted: September 15, 2008 at 2:48 am

Shares of Lehman (LEH) were off 84% in European trading.Bank of America (BAC) was down 14%.UBS (UBS) shares fell 7% at the open.Douglas A. McIntyre ...
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Newspaper

Media Digest 9/15/2008 Reuters, WSJ, NYTimes, FT, Bloomberg

Posted: September 15, 2008 at 2:27 am

According to Reuters, Lehman (LEH) will seek Chapter 11 protection.Reuters reports that Bank of America (BAC) will buy Merrill Lynch (MER) for $50 billion.Reuters reports that AIG (AIG) is facing ...
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Angrybear

Overseas Markets 9/15/2008

Posted: September 15, 2008 at 2:06 am

Market across the world fell. Many markets in Asia were closed for holidays but the Straits Times fell over 3%.In Europe the FTSE dropped 2.3% at the open and the ...
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Aig_2

AIG (AIG) Begs For Cash

Posted: September 15, 2008 at 12:13 am

AIG (AIG) is seeking a short-term loan from the Fed in the amount of $40 billion.The Insurance firms says it will pay that back shortly from asset sales.In the current ...
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Lehman_logo

Lehman (LEH) Announces Bankrutcy Filing

Posted: September 15, 2008 at 12:08 am

Lehman (LEH) announced it would go bankrupt.Its broker dealer unit and investment unit will not file.Douglas A. McIntyre ...
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