Key Developments Driving The Financial World Today (10/22/2011) Google Buy Yahoo, T-Mobile In Trouble, Kodak Battle To Survive
The Obama Administration will release a plan on Monday to help people with underwater mortgages and good credit to get new refinanced home loans at present rates which are the lowest in decades. This could change the housing market as…
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Negotiations between France and Germany about a massive bailout fund for the EU’s financially weak nations continue to be unstable. The lack of an agreement this week is likely to sharply increase the chances of a Greek default. Germany wants the region’s banks to take larger write-offs on Greek debt than was planned in July. Banks, led by Deutsche Bank, have balked.
Google (NASDAQ: GOOG) is in talks with private equity interests about a purchase of Yahoo! (NASDAQ: YHOO) Google has the financial reserves to make a premium bid that would probably push out other PE firms and probably an offer from Alibaba, the Chinese e-commerce operation. Yahoo! owns 40% of Alibaba. An offer by Google would leave Microsoft as the only company with the capital to make a counter-offer.
T-Mobile has began an aggressive campaign to get low income customers through no-contract cellphone wireless plans. The action may be the carrier’s action to prepare for the failure of a buyout by AT&T (NYSE: T) which has been blocked by federal regulators. T-Mobile is the No.4 carrier in the US with about 35 million subscribers. Many of these customers have probably already considered migration to Verizon Wireless and Sprint-Nextel (NYSE: S). That will leave T-Mobile orphaned
A pitched battle between Eastman Kodak (NYSE: EK) and its creditors has begun. Wall St. is concerned that Kodak will have to declare Chapter 11 before it can sell of license its patent portfolio.
Douglas A. McIntyre
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Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.
McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.
His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.
A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.
TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.
McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.