Archive - Jan 2009

Looks like the commercial mortgage apocalypse is about to claim its next victim, this time in the form of the appropriately numbered 666 Fifth Avenue building, home to such previously flourishing tenants as

As previously reported, Steel Partners is trying to stick it to investors by unilaterally deciding to do a reverse merger something or another, ultimately to prevent investors from redeeming in a pseudo-liquid public vehicle called WebFinancial

As previously reported, Steel Partners is trying to stick it to investors by unilaterally deciding to do a reverse merger something or another, ultimately to prevent investors from redeeming in a pseudo-liquid public vehicle called WebFinancial Co

The Wall Street Journal reports that HeidelbergCement, whose CDS jumped by about 300 bps since when we wrote about the brewing troubles at the German cement maker, may be bailed out by Goldman Sachs and TPG who are allegedly considering buying

The Wall Street Journal reports that HeidelbergCement, whose CDS jumped by about 300 bps since when we wrote about the brewing troubles at the German cement maker, may be bailed out by Goldman Sachs and TPG who are allegedly considering buying

A Bill introduced today by House Democrats, highlights the $825 billion stimulus plan that is supposed to lead America out of its current deplorable state.

The previously scheduled January 20 conference call is being pulled to January 16 Friday bright and early at 7am. Ken Lewis undoubtedly has many good news he cant wait to share. At least it is not at same time as Citi (8am), or one would think one is trying to hide behind the other... which is simply ludicrous

According to debtwire, Smurfit Stone DID in fact make a payment on its 7,375% Notes. If you sold today, don't forget to reload tomorrow.

Apparently the plane is an Airbus 320 flying from LaGuardia to Charlotte, NC. The plane is semi-submerged in the Hudson River and is "slowly sinking". According to the US Airways website this is flight 1549. Media reports there were 148 passengers and 6 crew members onboard when the plane crash-landed into the river. The plane struck a flock of geese on take off. The crash occurred off of 50th street in Manhattan.

Death Watch candidate, greenhouse tomato producer and employer of illegal immigrants, Eurofresh Farms, does not disappoint.

CNBC reporting that Banc of America to receive more tax money to fund their phenomenally well-run operation. With purchases such as Angelo Mozillo's golden parachute and Merrill Lynch's empty cubicles this makes lots of sense. Looks like federal guarantee will be $100-$200 billion...

S&P posting a 20 point rally in past hour. Talking heads speculating this is due to expections of more taxpayer money about to come and bail everyone out via TARP 2 any second. This obviously did miracles last time around.

According to sources, the indenture trustee on Six Flags' 12.25% Notes due 2016 has confirmed that a $24.5 million interest payment on the notes was made. This buys the company a whopping two weeks before it has to make its February 1 coupon payment on its 8.875% Notes due February 2010.

Conference call with slides in progress...

DETROIT, Jan. 15 /PRNewswire/ -- General Motors today provided an update on company restructuring efforts included in the viability plan submitted to the federal government last month, and announced more conservative industry volume planning assumptions to ensure the viability plan is successful even in the most challenging of markets.