Constellation Energy Group Inc. (NYSE:CEG) continues to shed assets. This time it’s the company’s London-based international commodities trading operations, which Constellation will sell to a division of Goldman Sachs Group Inc. (NYSE:GS).…
According to Reuters, Steve Jobs will take a medical leave from Apple (AAPL) until June 30. Reuters reports that Bank of America (BAC) is in discussions with the government to get billions…
The conventional wisdom was that 2008 would be the worst year for bank losses in years, but that it would be the bottom. The damage of mortgage-backed securities has moved into the…
Berkshire Hathaway Inc. (NYSE: BRK-A) (NYSE: BRK-B) does not go for short-term gains, and short-term losses are part of the game for investing. Warren Buffett has even told employees to only to…
Chesapeake Energy Corporation (NYSE:CHK) has sold about $412 million worth of royalty interests in "long-lived, producing assets" in gas fields in Oklahoma and Arkansas. The buyer was a private equity firm, Argonaut…
The Fed will step into the market next year and buy mortgage-backed securities with a vengeance. It has finally dawned on the agency that cutting rates and providing banks with low-cost emergency…
According to MarketWatch, "Standard & Poor’s cut the credit rating or outlook of 12 major U.S. and European financial institutions Friday, saying the move reflected its view of the significant pressure on…
Goldman Sachs has come out with a new financial sector outlook for 2009, and much of how you receive it will depend whether you see things as"half empty" or "half full." It…
Douglas A. McIntyre Citigroup Inc. (NYSE: C) is getting a more "in-line" view from analyst and fan Dick Bove of Ladenburg Thalmann. Bove is capitulating at least a bit with the admission that the quarter…
According to Reuters, Chrysler will idle its plant for a month to cut inventory and costs. Reuters reports that the SEC is under fire over the Madoff investigation. Reuters reports that Obama…
For bankers used to making millions of dollars in bonuses, $400,000 might seem like a big comedown. Goldman Sachs (GS) has elected to make that the cap for cash compensation for everyone…
Douglas A. McIntyre Yesterday was a rather odd day in more than one way. The reaction to Goldman Sachs Group (NYSE: GS) was given a warm reception, despite the much wider losses than expected, the…
According to Reuters, the Fed may need to use a trillion dollars to halt the economy from moving into a period of deflation. Reuters reports that OPEC will make the largest production…
In another sign that the recession is deepening, the average employee at Goldman Sachs (GS) will make only $363,654 a drop of 45% from last year. In other words, that would still…
Douglas A. McIntyre Moody’s Investors Service downgraded the long-term senior debt ratings of Goldman Sachs Group Inc. (NYSE: GS) to A1 from Aa3, excluding FDIC-guaranteed debt. The Aa3 deposit ratings of Goldman Sachs’ banking subsidiaries…
Douglas A. McIntyre 