This week seems to be unprecedented for the financial powerhouses and bulge bracket brokerage firms. While Merrill Lynch had to throw in the towel and become a Bank of America subsidiary, Lehman…
AIG (AIG) plans to sell its auto insurance unit, annuity operations, and aircraft leasing division. It sounds a lot like Lehman’s (LEH) plan to spin-off its commercial real estate pool and sell…
Covering financial stocks this morning looks a bit like an assassination happening live on television. Futures are being pulled sharply lower by the financial stocks melting down. We are going to skip…
According to Reuters, Lehman (LEH) will seek Chapter 11 protection. Reuters reports that Bank of America (BAC) will buy Merrill Lynch (MER) for $50 billion. Reuters reports that AIG (AIG) is facing…
We few, we happy few, we band of brothers; For he to-day that sheds his blood with me Shall be my brother; be he ne’er so vile… Saint…
Several media reports say that large financial firms are trying to reduce their risk to deals that they have with Lehman (LEH) in the event that the firm begins a liquidation later…
Douglas A. McIntyre Lehman (LEH) may or may not open for trading on Monday morning. A number of experts believe that the broker’s problems must be resolved before Asia markets open, or that a panic…
According to Reuters, oil fell another $1 to $109. Reuters writes that Coca-Cola (KO) will pay $2.5 billion for Chinese juice maker Huiyuan, Reuters writes that Google (GOOG) believes the its new…
Lehman (LEH) will lay off about 6% of its work force according to The New York Times. That is about 1,500 people, but it is not nearly enough. Earlier in the day…
The AP announced its list of the top 10 paid CEOs for 2007. The figures were based on "AP’s compensation formula, which adds up salary, perks, bonuses, above-market interest on pay set…
Citigroup (C) cut is earnings estimates for Goldman Sachs (GS), Morgan Stanley (MS), and Lehman (LEH). Today, Bank of America (BAC) cuts its earnings targets for Goldman and Morgan Stanley. Sanford Bernstein…
It looks like we are about to get a new frontier markets investment vehicle for investors to invest in "emerging-emerging markets" or "pre-emerging markets" depending on which you prefer for a reference. …
Douglas A. McIntyre The rule on Wall St. is that securities analysts don’t rate their own firms. Now that brokerage research departments are no longer slaves to investment banking, the independence of analysts is supposed…
It is not hard to blame Goldman Sachs (GS) for failing to cut its own earnings estimates for the next quarter and the full year. That kind of action by analysts is…
Several of the modest-sized investment houses say they should not have to buy back auction-rate securities which they sold to their customers. The dog ate their homework.
