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Monthly Archives: January 2009

Winter

The Imbecile’s Ball: Citigroup (C) Dances Around Management Change

Posted: January 12, 2009 at 5:40 am

What will happen next on Citigroup's board or among the ranks of its senior management involves a guessing game. By several accounts, chairman Win Bischoff is leaving. But, he has ...
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Bank

Twelve Major Media Brands Likely To Close In 2009

Posted: January 12, 2009 at 4:27 am

No one working in the media industry will ever have seen a year as bad as 2009 will be. The sharp slide in advertising began in 2008, and, based on ...
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Media Digest 1/12/2009 Reuters, WSJ, NYTimes, FT, Bloomberg

Posted: January 12, 2009 at 4:07 am

According to Reuters, Citigroup (C) is near a deal to form a venture putting its brokerage business together with the one at Morgan Stanley (MS) Citi would be paid about ...
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Empire

Asia Markets And Europe Open 1/12/2009

Posted: January 12, 2009 at 3:22 am

Markets in Asia were lower.The Nikkei did not trade due to a holiday.The Hang Seng fell 3% to 13,946.The Shanghai Composite was off .2% to 1,900.At the open in Europe, ...
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Old_car

Americans Growth To Like Old Cars

Posted: January 10, 2009 at 6:47 am

Imagine millions of Americans owning antique cars. A 1966 Ford Fairlane is worth almost $140,000. A 2001 Chrysler Prowler $40,000.Consumers are keeping their vehicles much longer because they cannot afford ...
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Hearst To Dump Seattle P-I

Posted: January 9, 2009 at 4:13 pm

It seems that the newspaper industry changes are not going to slow down any time soon.  An ominous announcement came across Business Wire today saying Hearst Corporation intends to jettison ...
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Rubin Out At Citi (C)

Posted: January 9, 2009 at 3:13 pm

The WSJ first reported that famed ex-Treasury Secretary Bob Rubin will be leaving the board of directors at Citigroup Inc. (NYSE: C).  This has now been confirmed in multiple reports ...
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Counter-Cycle Upgrades in YRC Worldwide (YRCW)

Posted: January 9, 2009 at 3:03 pm

The business of trucking and transporting goods has not  been a stellar for quite some time.  In 2007 to 2008, the sector was hurt by escalating gas prices and an ...
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More Nukes in the Pipeline (CEG, PPL, EXC)

Posted: January 9, 2009 at 2:15 pm

UniStar Nuclear Energy, a joint venture between Electricite de France (EDF) and Constellation Energy Group Inc. (NYSE:CEG), and PPL Corporation (NYSE:PPL), a UniStar partner, have passed the first regulatory review ...
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Boeing Goes Boing Boing With Pink Slips (BA)

Posted: January 9, 2009 at 2:06 pm

Boeing Co. (NYSE: BA) has decided that it wanted to get into the business of pink slips.  The aerospace and defense giant announced that it plans to shed some 4,500 ...
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Rig Counts Fall in December (BHI)

Posted: January 9, 2009 at 2:05 pm

Baker Hughes Incorporated (NYSE:BHI) released its monthly rig count report this morning. Compared with November counts, drilling rigs in North America are off about 9%. Compared with December 2007, North ...
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A Big Writedown At Macy’s (M)? A Question Of Who Is Next

Posted: January 9, 2009 at 1:57 pm

It is beginning to dawn on Wall St. that jobs are not the only thing that retailers will be cutting. The value of their stores, inventories, and any past M&A ...
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More Layoffs Coming in the Oil Patch (CVX, SLB, XOM, COP, BP)

Posted: January 9, 2009 at 1:52 pm

Chevron Corporation (NYSE:CVX) already gave its severe earnings warning and we have already seen layoffs coming out of Schlumberger Limited (NYSE: SLB). [] and its dragging down share prices for ...
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Nordstrom Gets New Largest Shareholder (JWN)

Posted: January 9, 2009 at 10:59 am

It looks like Nordstrom Inc. (NYSE: JWN) has a new largest shareholder.  An existing holder called Capital World Investors has increased its ownership in the upscale retailer and now owns ...
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Recession Fallout: Layoffs in Wrestling (WWE)

Posted: January 9, 2009 at 10:38 am

As if you would not have guessed, wrestling is apparently not a recession-proof business.  This morning there was an announcement from World Wrestling Entertainment Inc. (NYSE: WWE) that it was ...
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