PharmaNet Going Private (PDGI)
This may be far from a super-merger and may be far from a return or thrust from private equity. But it is a deal in the drug and research sector. PharmaNet Development Group, Inc.…
Banking, finance, and taxes
All Banking, finance, and taxes Articles
Newest first · Page 251Destroying Bank Of America (BAC) While Saving It
While the battle between Bank of America (BAC) CEO Ken Lewis and former Merrill Lynch CEO John Thain goes on over who knew about large bonuses and large losses and when they knew it,…
“Bad Bank” May Force Another Look At Accouting Rules
Robert Rubin, former Treasury Secretary, head of Goldman Sachs (GS), and recently departed senior board member at Citigroup (C) has been telling anyone who will listen that "mark to market" accounting ruined big banks.…
Bad Bank Snag, Nationalization, Nothing But Questions
Everyone waited last week for the government to set up a "bad bank" last week where banks and major financial institutions would get to sell their toxic debt and credit instruments. So, it won’t…
The Government’s Insane Bailout Of AIG (AIG) Continues (BAC)(C)
The federal government has put $150 billion into rescuing AIG (AIG), which was once the most profitable insurance company in the world. With financial relationships linking it to banks and brokerages all around the…
Julian Robertson Stays Very Bearish, With Picks (GS, V, MA, PTY, PCN)
If you hadn’t gotten your full round of pre-weekend economic gloom, famed investor Julian Robertson of Tiger Management just gave an interview with CNBC’s Erin Burnett. He is cautious about what lies ahead. If…
The Bank Repair Plan: Neither Fish Nor Fowl
The Administration is looking at a hybrid plan to save the nation’s banks. It world involve buying some toxic assets from the firms and putting them into a "bad bank." The value of other…
Fed Stays Low, Looks At Buying Treasuries
According to MarketWatch, "The Federal Reserve said Wednesday that it would keep intact its current policy of record-low interest rates. In a statement following its meeting, the central bank also said it’s prepared to…
Can Colonial Make It? (CNB)
Colonial Bancgroup Inc. (NYSE: CNB) is looking like it is the next banking institution on the verge of tipping over into the abyss. Its earnings report leaves nothing to be desired. But a 44%…
Huge Loss At Wells Fargo (WFC): Blame Wachovia, But Government Rescue Plan Drives Shares Up
The shares in Wells Fargo (WFC) are up 22% to $19.76. The bank’s modest results are not the cause. There is optimism that the federal government will create a "bad bank" to take toxic…
A New Attempt To Build A “Bad Bank”
Creating a "bad bank" is on the wish list of an extraordinarily large number of regulators and members of Congress. It is a sort of miracle cure to the problems in the banking industry.…
Another Group of ETF’s Bite The Dust (NTRS, AUS, BRU, SNO, FRC, DAX, HKG, IQE, TAV, ITL, TYI, AEX, LIS, SGT, JNB, LDN, MYG, JRE)
Northern Trust Corp. (NASDAQ: NTRS) has announced today that the group plans to close the Northern Exchange Traded Shares (NETS) used to track single country investments on February 20, 2009. These funds were launched…
American Express Earnings Left Home (AXP)
American Express Company (NYSE: AXP) posted earnings from continuing operations of $0.21EPS, down about a 70% year-over-year decline. Revenue plunged 11% to $6.51 billion. First Call expectations were $0.22 EPS and $7.22 billion in…
IPO Filing: Penn Millers Holding Corporation (PMIC)
We have a new IPO filing from Penn Millers Holding Corporation. This is far from a traditional IPO, and it looks as though it is destined to be in the micro-cap stock offerings. What…
No New News: Banks Won’t Lend Money
Despite getting cash from the government, banks aren’t lending more money. It makes a good headline, but it does not have any shock value. Why would anyone be surprised? According to The Wall Street…