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…
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…
Some of AIG’s (AIG) big investors wanted to throw out management. But, that was not enough for them. With the smell of blood in their nostrils they have decided that the board…
One of the hedge funds that Citigroup (C) bought from its CEO Vikram Pandit’s money management company, an operation called Old Lane, has gone belly-up. Pandit got $165 million from the deal…
Douglas A. McIntyre According to Reuters, InBev made $46.3 billion offer for Anheuser-Busch (BUD). Reuters reports that AIG (AIG) shareholders are demanding board changes. Reuters writes that the GM (GM) Europe sales chief sees a…
From the viewpoint of pessimists, it was just a matter of time. The run-up in financial shares which began in mid-March would be tomahawked by a flailing economy and the leprosy of…
According to Reuters, volume sales are now the key to success for Apple’s (AAPL) new iPhone. Reuters reports that the head of Merrill Lynch (MER) supports ongoing regulatory access to data from…
UBS (UBS) may lose money every quarter from now until the end of time. As the Swiss bank raises $16 billion, it has acknowledged that past deficits may not be the last…
Meredith Whitney of Opperheimer covers financial stocks, but she clearly hates them. At least for the time being. She is no making the point that as MBIA (MBI) and Ambac (ABK) lose…
If US financial companies go shopping for more cash as the credit crisis drags on, Kuwait wants the world to know it has a big bank account. A good deal might just…
Douglas A. McIntyre After indicating that the worst was behind it, Lehman (LEH) may have to raise another $3.4 billion. That would be an indication that the brokerage will lose much more than expected in…
Standard & Poor’s has come out with a report that is actually weighing down on the entire market even though it is sector specific. The ratings agency has cut ratings on several…
With all its bleeding and huge losses, Wall St. should assume that the bad news is behind UBS (UBS). To repairs its balance sheet, the Swiss firm is making a 16 billion-franc…
UBS (UBS) had to raise money. The sins of its subprime addiction have come back to haunt it. US bank shareholders should shudder when they look at the pricing that the Swiss…
Against a back-drop of several Wall St. analysts saying the credit crisis will damage bank earnings into 2009, Lehman Bros. (LEH) will cut 5% of its work force, according to Reuters. The…
