Executives recruiters are estimating that total lay-offs at major Wall St firms could rise to 175,000 or more. Bloomberg writes that "As more employees are fired, workforce reductions may exceed those from the market…
The last round of earnings for Wall St. firms showed that the financial industry was in bad shape and getting worse. That has been followed by news that the brokerage executives who said in…
Cincinnati Financial Corporation (NASDAQ: CINF) issued its preliminary 2008 guidance after yesterday’s close. Based upon its insurance target market, you probably already know it is one of the stocks that has been a victim…
Syntroleum Corporation (NASDAQ: SYNM) has announced that Dynamic Fuels LLC, a 50-50 joint venture between Syntroleum and Tyson Foods Inc. (NYSE: TSN), has received final approval from the Louisiana State Bond Commission for $100…
Citigroup (C) came clean about what everyone with any sense already expected. Write-offs at the money center bank are not over. According to The Wall Street Journal, the "bank will see a fresh round…
Galiot Capital Corporation has filed with the SEC for its 16,666,666 shares of common stock in an IPO at $15.00 per share. The company will trade on the New York Stock Exchange under the…
Thornburg Mortgage (TMA) may not make it. The mortgage lender once has a market cap of well over $5 billion. Its shares are down to $.65 and its market value is only about $100…
A fed filing today from FRANKLIN RESOURCES INC. (NYSE: BEN) indicates that Chairman of the Board Charles Johnson sold 400,000 on June 13 in two transactions at $104.78. The value of the transaction before…
Martin Sullivan, the CEO of AIG (AIG), was sent to the guillotine yesterday. The beheading of financial company chiefs is now so commonplace that crowds don’t even gather anymore to witness the practice. As…
Big losses and having to raise $20 billion has been too much for AIG’s (AIG) largest investors. They are expected to get their way today. The AIG board will jettison CEO Martin Sullivan. According…
Dick Fuld, CEO of Lehman (LEH), may lose his jobs soon. Someone has to step in if the brokerage’s stock keeps falling. The company board knows that. Lehman’s COO and CFO has already been…
A large number of the banks and brokerages in the US and EU have turned to sovereign funds in Asia and the Middle East to replenish their reserves after taking huge losses on mortgage-backed…
This coming week is going to be a rather important week for brokerage and investment banking firms. We have three key firms in the sector reporting earnings: Lehman Brothers Holdings Inc. (NYSE: LEH), Goldman…
Fifth Third Bancorp (NASDAQ: FITB) is seeing a floodgate opened with sellers thrashing shares. The culprit for this is a downgrade out of BMO Capital, where the brokerage firm downgraded the stock to a…
Charter Communications, Inc. (NASDAQ: CHTR) has extended the early participation deadline for the pending private offer of its indirect units until 11:59 PM ET on June 27, 2008 and the exchange ratio range will…