Archive - Jan 2009

The real first black president (David Palmer) couldn't save this one.

*ALLSTATE SUSPENDED SHARE BUYBACK
*ALLSTATE INSURANCE HAS CAPACITY TO PAY DIVIDENDS $1.3B
*ALLSTATE SUSPENDED SHR BUYBACK PLAN
*ALLSTATE HAS $12.6B CAPITAL AT YEAR END 2008
*ALLSTATE 4Q OPER INCOME PER SHARE 97C; ANALYST EST. $1.
*ALLSTATE REMAINS WELL CAPITALIZED
*ALLSTATE 4Q PROPERTY-LIABILITY COMBINED RATIO 91.5
*ALLSTATE 4Q OPER EPS $0.97

With almost half the S&P having reported their earnings, we know all too well how bleak the employment picture is with a daily barrage of "streamlining" bullet points in each company's earnings press release. Another interesting factoid is to compare the estimated earnings growth rates of different companies by sector, whether based on company guidance or consensus estimates. What is surprising is the nearly 80% drop in the estimated growth rate for the S&P500 from only 3 months ago.

With almost half the S&P having reported their earnings, we know all too well how bleak the employment picture is with a daily barrage of "streamlining" bullet points in each company's earnings press release. Another interesting factoid is to compare the estimated earnings growth rates of different companies by sector, whether based on company guidance or consensus estimates. What is surprising is the nearly 80% drop in the estimated growth rate for the S&P500 from only 3 months ago.

Breaking on CNBC: Republicans to present alternative stimulus plan which will "create double the amount of jobs in the currently proposed plan." Enter stage left: partisan wrangling.

And just when you thought the market has enough on its mind to worry about politics.

I assume I am not the only one watching the big game of roulette on CNBC right now (i.e. the market). For all those clicking the buy button on E-Trade with the reckless abandon of Gary Busey doing... well, anything he does, we want to point out this interesting analysis on FT Alphaville.

I assume I am not the only one watching the big game of roulette on CNBC right now (i.e. the market). For all those clicking the buy button on E-Trade with the reckless abandon of Gary Busey doing... well, anything he does, we want to point out this interesting analysis on FT Alphaville.

Release Date: January 28, 2009

For immediate release

The Federal Open Market Committee decided today to keep its target range for the federal funds rate at 0 to 1/4 percent. The Committee continues to anticipate that economic conditions are likely to warrant exceptionally low levels of the federal funds rate for some time.

It The Boston Consulting Group and Nassim Taleb are right, and the latter has been right over the past 2 years where everyone else has been massively wrong, then private equity firms are about to get in line for government bail outs.

Overpriced, rumormongerous tabloid Debtwire (just kidding, we love our competition) apparently had a little extra free time and did a survey in which it polled "100 hedge fund managers, prop desk traders and other asset managers" to forecast how they perceived distressed debt opportunities in 2009 (we were not aware there are 100 specimens of this endangered species left out in the wild...it might make sense to put th

Overpriced, rumormongerous tabloid Debtwire (just kidding, we love our competition) apparently had a little extra free time and did a survey in which it polled "100 hedge fund managers, prop desk traders and other asset managers" to forecast how they perceived distressed debt opportunities in 2009 (we were not aware there are 100 specimens of this endangered species left out in the wild...it might make sense to put them

In a quest to "improve" transparency into its business, the New York Times will cease providing monthly sales updates beginning this month, and only give clarity on a quarterly basis said the CEO on a phone call this morning... Next quarter we assume this practice will be adjusted to providing any sorts of updates to once a decade.

In a quest to "improve" transparency into its business, the New York Times will cease providing monthly sales updates beginning this month, and only give clarity on a quarterly basis said the CEO on a phone call this morning... Next quarter we assume this practice will be adjusted to providing any sorts of updates to once a decade.

We wrote about what we think the implications for the private jetting industry would be after Falcon-gate, but did not expect this.

Jefferies, the self proclaimed "largest investment bank left out there" today announced that it has hired 2 managing directors to replace the massive defections in its restructuring group, which for all intents and purposes, picked up and left to join Moelis & Co.