Circuit City Stores, Inc. (NYSE: CC) has finally capitulated. There are two separate announcements this morning, but in reality it is all part of the same issue. This will allow the company…
Hank Greenberg, former chief of AIG (AIG), still walks the avenues of Wall St. at night, plotting how to get his old job back. He has been in a series of disputes…
El Paso Corporation (NYSE:EP) has reported earnings of $0.29 EPS on net income of $219 million and revenue of $1.269 billion for the first quarter of 2008. Analysts were expecting $0.30 EPS…
Goldman Sachs (NYSE: GS) has come out and updated its "oil super-spike" prices today. In fact, it ponders whether or not the super-spike end game has begun. We covered part of this…
Douglas A. McIntyre UBS (UBS) telegraphed all ships in the known world as it sank into the Atlantic like the Titanic. The big bank will fire 5,500 poor souls and sell $15 billion of its…
Late word is that the hedge fund business that Citigroup (C) CEO Vikram Pandit sold to the bank for $800 million has lost a huge amount of its value. All of the…
When we saw the Mars acquisition of William Wrigley Jr. Co. (NYSE: WWY) in perhaps the largest food merger, the first thing that came to mind besides "what a premium" was "What…
The FBI is looking into why the subprime market fell apart. As a matter of fact, it wants those who are guilty to turn themselves in so they do not have to…
"So, we beat on, boats against the future, born back ceaselessly into the past"–F Scott Fitzgerald, "The Great Gatsby" John Thain, former co-president of Goldman Sachs (GS) and CEO of The New…
Douglas A. McIntyre According to Reuteres, Novartis will buy Nestle’s Alcon stakes for $39 billion. Reuters writes that Microsoft (MSFT) has given Yahoo! (YHOO) a dealine for buy-out talks. Reuters writes that Yahoo! will inform…
A decade ago, when there were big problems in the financial markets a very small group of people came in for the fix. E. Gerald Corrigan, a man of massive girth and…
The Fed does not want to see all the money it has give to brokerages in exchange for lousy paper to go down the toilet so it has stationed its own personnel…
MoneyGram International, Inc. (NYSE: MGI) has completed its recapitalization that was led by affiliates of Thomas H. Lee Partners and Goldman Sachs (NYSE: GS). Here is a breakdown of how the financing…
Douglas A. McIntyre Liberty Lane Acquisition Corp., another special purpose acquisition company, or SPAC, has filed to come public via an initial public offering of $350 million in units. Each unit will come with one…
According to The New York Times, JP Morgan (JPM) is in talks to raise it bid for Bear Stearns (BSC) from $2 to $10. Reuters writes that analysts now see a steep…
