Daily Archives: November 27, 2008

Saks (SKS): A Poison Pill For A Dying Company

R218533_855025_2Saks (SKS), which was up until recently one of the world’s premier brands for high-end shoppers, has voted itself a "poison pill". The purpose of this may be to block Mexican billionaire Carlos Slim from taking the company over.

According to The Wall Street Journal, "Just days after Mexican billionaire Carlos Slim Helu raised his stake in Saks Inc. to nearly 18%, the beleaguered luxury retailer has adopted a shareholder rights plan intended to thwart a potential takeover."

The board at Saks should let him have the company.

Read More »

Posted on: November 27, 2008 – 8:18 am in Retail,

Media Digest 11/27/2008 Reuters, WSJ, NYTimes, FT, Bloomberg

NewspaperAccording to Reuters, markets in Asia and Europe ross about 2%

Reuters reports that the downturn in the Chinese economy deepened.

Reuters reports that BHP Billiton (BHP) was gloomy about its prospects and defended it bid for Rio Tinto (RTP)

Read More »

Posted on: November 27, 2008 – 6:26 am in Press Digest, , , , , , , , ,