Archive - Jan 2009
January 26th
Sale Rumor Sends Quiksilver Bonds Up 60%
Submitted by Tyler Durden on 01/26/2009 21:23 -0500
According to an article in this morning's edition of Women's Wear Daily ($$$ link), the DC Shoes division of sportsware maker Quiksilver could be sold to VF Corp in as soon as a few weeks, and that upon a successful consummation of the deal, Nike could purchase Quiksilver
Sale Rumor Sends Quiksilver Bonds Up 60%
Submitted by Tyler Durden on 01/26/2009 21:23 -0500
According to an article in this morning's edition of Women's Wear Daily ($$$ link), the DC Shoes division of sportsware maker Quiksilver could be sold to VF Corp in as soon as a few weeks, and that upon a successful consummation of the deal, Nike could purchase Quiksilver
SEC Joining NY Attorney General in Investigating Merrill Bonus Scandal
Submitted by Tyler Durden on 01/26/2009 20:29 -0500Fannie, Freddie, FHLB About To Remind World Of Their Pathetic Existence
Submitted by Tyler Durden on 01/26/2009 19:29 -0500As Bloomberg reported last week, Tuesday, January 27, may be much more than consumer confidence / Case-(C)hiller day. On Tuesday the Federal Housing Finance Agency, the government oversight agency run by Jim Lockheart, will announce a new set of parameters for capital requirements and investment restrictions for Freddie, Fannie, and the Federal Home Loan Banks. Freddie and Fannie, which were nationalized in September, hold a combined $1.7 trillion in mortgages between them.
NYC Poised to Boost Cab Tax Collections by Offering "Fare Share" Program
Submitted by Tyler Durden on 01/26/2009 18:45 -0500
With MTA ridership about to to fall off a cliff once the new fare hike takes place, and the only time New Yorkers take cabs these days is to get to ever rarer interviews, mayor Bloomberg has recently come up with a scheme to boost mass transit tax collections. It seems that NY is considering a taxi sharing program to promote group ridership.
NYC Poised to Boost Cab Tax Collections by Offering "Fare Share" Program
Submitted by Tyler Durden on 01/26/2009 18:45 -0500
With MTA ridership about to to fall off a cliff once the new fare hike takes place, and the only time New Yorkers take cabs these days is to get to ever rarer interviews, mayor Bloomberg has recently come up with a scheme to boost mass transit tax collections. It seems that NY is considering a taxi sharing program to promote group ridership.
NYC Poised to Boost Cab Tax Collections by Offering "Fare Share" Program
Submitted by Tyler Durden on 01/26/2009 18:45 -0500
With MTA ridership about to to fall off a cliff once the new fare hike takes place, and the only time New Yorkers take cabs these days is to get to ever rarer interviews, mayor Bloomberg has recently come up with a scheme to boost mass transit tax collections. It seems that NY is considering a taxi sharing program to promote group ridership.
HartMarx Files for Bankruptcy
Submitted by Tyler Durden on 01/26/2009 16:36 -0500
The Chicago-based luxury apparel maker and owner of such brands as Hickey Freeman, was next in line today in bankruptcy court, this time in the Northern District of Illinois, with the pretext that it is seeking "strategic alternatives." The most recent (but definitely not last) luxury retailer seeki
HartMarx Files for Bankruptcy
Submitted by Tyler Durden on 01/26/2009 16:36 -0500
The Chicago-based luxury apparel maker and owner of such brands as Hickey Freeman, was next in line today in bankruptcy court, this time in the Northern District of Illinois, with the pretext that it is seeking "strategic alternatives." The most recent (but definitely not last) luxury retailer seeking
U.S. Treasury Purchases Surprisingly Not Reliant on China
Submitted by Tyler Durden on 01/26/2009 15:18 -0500
The Council on Foreign Relations has done a great independent analysis of who has been buying U.S. Treasuries in 2008. In a nutshell, the US managed to place $1.3 trillion of USTs with non-Chinese investors.
U.S. Treasury Purchases Surprisingly Not Reliant on China
Submitted by Tyler Durden on 01/26/2009 15:18 -0500
The Council on Foreign Relations has done a great independent analysis of who has been buying U.S. Treasuries in 2008. In a nutshell, the US managed to place $1.3 trillion of USTs with non-Chinese investors.
Smurfit Stone Files for Bankruptcy
Submitted by Tyler Durden on 01/26/2009 15:08 -0500As we surmised as recently as two weeks ago in our Death Watch summary, Smurfit Stone container finally caved and early this morning filed for Chapter 11. Surprisingly, the company managed to procure a $750 million DIP financing. Granted of this $400 million is merely a replacement of the existing A/R securitization facility, but it is still an impressive accomplishment even though the company does have a lot of hard assets.
Vikram To Fly in Style As Citi Teeters On The Edge
Submitted by Tyler Durden on 01/26/2009 14:10 -0500
NY Post has broken the news that the bank which is currently suckling on $45 billion of taxpayer money has just completed the purchase of a Dassault Falcon 7x jet for $50 million. We can just smell the Barney Frank hearing on this one.
Vikram To Fly in Style As Citi Teeters On The Edge
Submitted by Tyler Durden on 01/26/2009 14:10 -0500
NY Post has broken the news that the bank which is currently suckling on $45 billion of taxpayer money has just completed the purchase of a Dassault Falcon 7x jet for $50 million. We can just smell the Barney Frank hearing on this one.
Update: Standard and Poor's Keeping GE's AAA Rating
Submitted by Tyler Durden on 01/26/2009 13:41 -0500In a desperate attempt to post the funniest thing this morning/pander excessively, S&P has decided to keep GE's and GE Capital Corp's pristine AAA rating. The "rating" agency notes the AAA debt rating is not "immediately affected" by the most recent earnings. However, it does note that there are signs that 2009 will be even more difficult than when S&P had looked at the two previously on Dec. 18.


