Citigroup (C) Continues To Hang Its Own Noose
Citigroup (C) CEO Vikram Pandit may have simply locked himself in the executive washroom and thrown away the key. No one has anything encouraging to tell him and if he does not come out,…
Banking, finance, and taxes
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Newest first · Page 260Level 3 Scores Credit Downgrades (LVLT)
Level 3 Communications Inc. (NASDAQ: LVLT) has just seen another negative development, this time from Standard & Poor’s Ratings Services. S&P lowered its corporate credit rating Level 3 to ‘CC’ from ‘B-‘ and it…
Evidence of Corporate Debt Issues Stabilizing (T, DUK, PCG, MO, TWC, BA)
We have been tracking the developments in corporate bond spreads and the lack of liquidity for new capital. Over the last ten days or so we have witnessed several corporate bond offerings of size…
Transocean’s Move to Switzerland Pays Off for Note Holders (RIG)
The world’s largest offshore drilling contractor, Transocean (NYSE:RIG) is moving its incorporation location from the Cayman Islands to Switzerland. Pending final approvals, the move will be effective on December 18th.
Will Citigroup (C) Be Sold To JP Morgan (JPM) Or Taken Over Like AIG (AIG)?
If the press is right, Citigroup (C) is about to hold a big pep rally with its CEO Vikram Pandit raising the cheer followed by an announcement that it will fire another 35,000 people.…
Brilliant Move: Goldman Sachs (GS) Says Top Seven Execs Will Skip 2008 Bonuses
In a remarkably shrewd move, the top seven executives at Goldman Sachs (GS) will give up their 2008 bonuses. That should keep Congress and regulators off the investment bank’s back and allow it to…
Citigroup (C) May Cut 35,000 More Jobs
Citigroup (C) CEO Vikram Pandit will have an employee meeting on Monday in the hope that he can calm concerns that the huge financial company is falling apart. With its stock below $10 there…
Citigroup (C) CEO Pandit Say Bank’s Revenue Is “strong and stable”: Shares Stay Below $10
According to Bloomberg, Citigroup Inc. Chief Executive Officer Vikram Pandit sought to reassure employees today, saying in an internal memo that the bank’s revenue is “strong and stable” and its capital “plentiful.”’. For some…
Freddie Mac (FRE) Manages To Lose $25 Billion
Freddie Mac (FRE) reported a net loss of $25.3 billion, or $19.44 per share, for the quarter ended September 30, 2008, compared with a net loss of $1.2 billion, or $2.07 per share, a…
Citigroup (C): Vikram Pandit’s Grand Strategy Of Cutting People
Perhaps it is a remarkable failure of imagination or just animal panic. A day after Citigroup (C) hit a multi-year low and spent time below $10, CEO Vikram Pandit’s answer was to buy a…
City Holding Company Files To Raise Cash (CHCO)
City Holding Company (NASDAQ: CHCO) has filed to raise up to $100 million. The company will be able to issue any combination of common stock, preferred stock, warrants to purchase common stock, warrants to…
Institutional Broker Defends Goldman Sachs (GS)
Sandler O’Neill is an institutional brokerage firm that many individual investors have not ever heard of, yet it has been around for roughly 20 years. It also does business in some form or fashion…
Treasury Starts To Run Out Of Bailout Money
When the Congress approved the bailout fund requested by Mr. Paulson, it earmarked $700 billion for the program, but the first installment was half of that. Only $60 billion of the initial piece is…
Berkshire Hathaway Earnings Could Set Next Week’s Trends (BRK-A, BRK-B, GS, GE, BNI)
After today’s close, we’ll get to see earnings out of conglomerate, insurance giant, and recent bailout investor Berkshire Hathaway Inc. (NYSE: BRK-A) NYSE: BRK-B). Warren Buffett and friends do not get many analysts covering…
E*TRADE and $800 Million E*TARP Funds (ETFC)
E*TRADE FINANCIAL Corporation (NASDAQ: ETFC) has announced its intent to participate in the Treasury’s TARP bailout funding program. The online brokerage firm confirmed that it filed an application to receive $800 million of funding.