Billions of dollars in losses and a falling stock price can cost a CEO his job. Wachovia (WB) announced today that its current Chairman, Lanty Smith, has been appointed interim Chief Executive…
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…
According to Reuters, Microsoft (MSFT) is proposing to buy Yahoo!’s (YHOO) search business. Reuters writes that Barclays (BCS) is looking at a possible bid for Lehman (LEH). Reuters reports that customer satisfaction…
As each day passes, a larger and larger portion of the analyst community turns on banks and brokerages like a pack of wild dogs. The majority report now seems to be that…
Clear Channel (CCU) has a leveraged buy-out in place. Of course, like many of these deals cut last years, the banks tried to walk out a side door. often claiming that the…
According to Reuters, Cablevision (CVC) is close to buy newspaper Newsday Reuters writes that RIM (RIM) is releasing its Blackberry Bold, aimed at keeping its lead in the business market. Reuters writes…
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…
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…
The promise from Wall St. firms was implied, not spoken. The heads of operations like Morgan Stanley (MS) and Merrill Lynch (MER) said that the worst was probably over in the credit…
Former World Bank chief James Wolfensohn thinks the credit crisis will take $1 trillion in losses out of the market. That is a number much higher than most estimates. It also means…
Once a year, Barron’s publishes its "The Top 100 Financial Advisers List." Much of the research for the article is done by an outfit known as "Winner’s Circle", based in Boca Raton.…
It is not uncommon during a serious recession for the shares of many public companies to drop. 24/7 Wall St. has assumed, for the purpose of finding stocks which could rise sharply,…
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…
New York State Attorney General Andrew Cuomo wants the job his father used to have. He wants to be governor of the Empire State. He wants to fight evil. He want to…
Mack of Morgan Stanley (NYSE: MS) and Fuld of Lehman (NYSE: LEH) have both expressed the opinion that the worst of the Wall St. earnings crisis may now be in the past.…
