Archive - 2009

Jon Moulton, head of the cool sounding Alchemy Partners (I thought that was reserved for Paulson and Bernanke's upcoming hedge fund), has said that nearly one-third of mid-market buyouts could fall into receivership (UK equivalent of bankruptcy).

Jon Moulton, head of the cool sounding Alchemy Partners (I thought that was reserved for Paulson and Bernanke's upcoming hedge fund), has said that nearly one-third of mid-market buyouts could fall into receivership (UK equivalent of bankruptcy).

Every time I hear the CNBC jingle for the Obama Coverage (1:15:04 on the countdown ticker - exciting) i expect to see Louis XIV. Did they get this jingle from some decade old MIDI file? Did someone actually make money "composing" this?

Olga Kogan, wife of Russian billionaire Valery Kogan, is again asking the Greenwich P&Z commission for permission to add a more reasonable, 21,000 sq. foot, 15-toilet anex to their existing 21,127 sq. foot house at 18 Simmons Lane. The commission initially threw up on the original plans of an expansion 27,000 sq. foot house with 26 toilets.

Olga Kogan, wife of Russian billionaire Valery Kogan, is again asking the Greenwich P&Z commission for permission to add a more reasonable, 21,000 sq. foot, 15-toilet anex to their existing 21,127 sq. foot house at 18 Simmons Lane. The commission initially threw up on the original plans of an expansion 27,000 sq. foot house with 26 toilets.

...Before it hits $0
17% down today. What is over/under days until Ken Lewis' resignation. We say 10

*******UPDATE********

$5.65 to zero now

And y'all thought Lyondell is going to be the only spectacular chemical LBO bankruptcy. The list is long and focuses mostly on plastics makers: Ineos, Chemtura and Georgia Gulf. The third-largest producer of polypropylene sealed its fate in 2005 when it bought BP's Innovene unit for $9 billion. Net debt most recently was $9.7 billion, 4.3x more than LTM EBITDA according to CFO John Reece. Of course there is the matter of plummeting EBITDA... Doubt leverage will be there for long time.

Or at least according to Nouriel Roubini. The NYU professor and longtime pessimist fired the latest shot across the bow of the financial house of cards. His claim: financial losses from the credit crisis may reach $3.6 trillion, suggesting the banking system is "effectively insolvent."

Or at least according to Nouriel Roubini. The NYU professor and longtime pessimist fired the latest shot across the bow of the financial house of cards. His claim: financial losses from the credit crisis may reach $3.6 trillion, suggesting the banking system is "effectively insolvent."

State Street (STT) stock tumbled 33% in premarket trading (last at $24/share). The world's largest money manager for institutions said 2009 profit will be little changed from last year after Q4 earnings fell 71%. What is curious is that according to Bloomberg out of the 18 analysts who cover the stock, 9 have a buy rating, 9 have a hold and 0 are at sell...yup, good to see sell-side research ahead of the ball on this one too.

• The pound is dead, long live the pound (Bloomberg)
• Banc of America expected to cut up to 4,000 in its capital markets group (CNBC)
• UAW's Ron Gettelfinger "Deadline may be almost unattainable" (Detroit Free Press)
• Fiat getting 35% of Chrysler, forming global alliance (

CEO of Russia in Perpetuity, Vladimir Putin, was faced Monday with the tough truth of plummeting oil prices. Oil, of course, has been the lifeblood of Russia's renaissance in recent years.

CEO of Russia in Perpetuity, Vladimir Putin, was faced Monday with the tough truth of plummeting oil prices. Oil, of course, has been the lifeblood of Russia's renaissance in recent years.

Just out: The New York Times Company Enters into Agreement with Banco Inbursa and Inmobiliaria Carso for $250 Million in Senior Unsecured Notes.

In what some might consider a minor case of about-face and an even more minor case of hypocrisy, the Oracle of Omaha is quoted by Reuters as saying the stimulus plan under consideration by the U.S.