AIG’s Robert Benmosche: The Great Quitter
Robert Benmosche, the CEO of American International Group, threatens to quit his job so often that it could be timed by a metronome. He whined when the press criticized him for spending time at…
All Work
Douglas A. McIntyre
Concerns Of Global Recession Rise And China Slows
The list of reasons that show the global economic recovery is slowing grows longer by the day. The US employment and real estate troubles have extended into June after hopeful signs early in the…
Media Digest 7/1/2010 Reuters, WSJ, NYTimes, FT, Bloomberg
Reuters: The House passed the financial reform bill leaving the Senate to act Reuters: Work on the BP plc (NYSE: B) oil spill will be delayed because of Hurricane Alex. Reuters: China’s economic growth…
Microsoft Kills New Kin Phone After Only Two Months
CNET reports that Microsoft Corporation (NASDAQ: MSFT) will end production of its Kin social media smartphone. It has only been on the market for two months. Microsoft told CNET that “We have made the…
Moody’s May Downgrade Spain’s Aaa Rating, Contagion Rules
There is another reason for the embattled euro to sell off. Moody’s says it may downgrade Spain’s debt which currently has an Aaa rating. The agency said, “Moody’s decision to initiate this review was…
Chinese Bank To Make Commercial Real Estate Loans
The world’s most profitable bank, China’s Industrial and Commercial Bank of China, plans to begin making loans in excess of $100 million to US commercial real estate owners. The ICBC, as it is known,…
Monsanto Posts New 52-week Low on Weak Report
The hits just keep on coming for Monsanto Corp. (NYSE:MON). The company today reported third fiscal quarter EPS of $0.81 on revenue of $2.96 billion. EPS estimates had been $0.80 and revenues were expected…
Wal-Mart Shakes Up Executive Suite
For a while there, during the economic downturn that started in the second half of 2008, Wal-Mart Stores Inc. (NYSE:WMT) looked like it had found a large number of new customers for its low-priced…
The ADP Number And The Double-Dip Recession
The RealtyTrac numbers from this morning showed that improved housing activity in March and April was caused by federal tax breaks and low mortgage rates. Once those benefits disappeared, home sales and home starts…
Today’s Best Market Rumors (6/30/2010)
Updated throughout the day. Blackstone Group (NYSE: BX) is close to finishing fund-raising for its sixth global buyout fund–$9 billion (Reuters) Mukesh Ambani, the Indian billionaire who controls Reliance Industries, is close to signing…
The Twitter-24/7 Wall St. Stock Market Report 6.30.2010 The Wisdom Of Crowds
Twitter has, by most estimates, 100 million members, which makes it one of the largest social networks in the world. All major media companies are on Twitter and some have more than one million…
Foreclosure Sales One-Third Of All Home Sales In Q1
The number of homes going into foreclosure is, by some measures, more than 300,000 a month. Buyers are taking advantage of that trend. RealtyTrac reports that “foreclosure homes accounted for 31 percent of all…
A $1 Trillion Cost For Financial Reform?
The International Swaps and Derivatives Association claims the financial reform bill, as its exists now, will require traders to post collateral for all over-the-counter derivatives that are not cleared, including those involving an end-user.…
Would The $19 Billion Bank Tax Kill Consumer Lending
The $19 billion bank tax which was a cornerstone of the financial reform bill appears to be dead. But in the ever-changing negotiations to get legislation to the President’s desk next month, the fate…
More Than Half Of National Workforce Hurt By Recession
The unemployment rate in the US is about 10%. The figure rises to 17% when people seeking full-time work who have part-time jobs and those who have stopped looking for work are included. But…
Media Digest (6/30/2010) Reuters, WSJ, NYTimes, FT, Bloomberg
Reuters: Democrats will make a final push for financial reform. Reuters: Hurricane Alex is likely to affect clean-up efforts in the Gulf significantly. Reuters: Oil will have its first quarterly drop in prices since…
S&P Puts Primary Competitor On CreditWatch, Will Moody’s Retaliate?
Moody’s (NYSE: MCO) has done many bad things including leading investors in mortgage-backed securities astray by giving the risky instruments AAA ratings. Some observers even believe that the credit ratings agency had a critical…
The TARP Leaves The Building Early
Via MarketWatch: The sweeping Dodd-Frank bank reform bill was amended Tuesday by a joint House-Senate conference committee to change the way the bill is funded, in order to address the objections of several key…
Does Killing Unemployment Benefits Kill The Economy?
The House of Representatives failed to pass a bill to extend unemployment benefits until November. The number of people who would be covered is more than a 1.5 million and increases by at least…
Note To William H. Gray III Of Dell’s Board: Save The Women And Children
Dell board member William H. Gray III, who runs the company’s Governance and Nominating committee, has a problem. He needs to replace CEO Michael Dell, but replacing a company’s founder is hard. He has…