Archive - Story

January 21st

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Irish Billionaire Next Victim of Financial Meltdown





The man who had lent Bill Clinton his chopper, was found dead on Monday in an apparent suicide. Patrick Rocca, 41, died from a single gunshot to his head in his home in Holmeleigh, an exclusive residential enclave on the edge of Dublin's Castleknock Golf and Country Club.

 

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Irish Billionaire Next Victim of Financial Meltdown





The man who had lent Bill Clinton his chopper, was found dead on Monday in an apparent suicide. Patrick Rocca, 41, died from a single gunshot to his head in his home in Holmeleigh, an exclusive residential enclave on the edge of Dublin's Castleknock Golf and Country Club.

 

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Media Popularity Rater Nielsen Coming to a Vicious HY Market with Bond Offering





The expectation is that Nielsen Co. (Caa1/CCC+) will be coming to market momentarily to take advantage of "demand" for junk debt. Apparently the issue will be $300 million maturing in 5 years. We say the OID will be 25 points and we also take the under.

 

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GM Beginning To Share Erin Burnett's Outlook on Life





9:21 *GM SAYS JANUARY U.S. SALES RATE MAY BE BELOW 10 MILLION

So you are saying 10.5 million was optimistic huh

 

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January 21 Early Headlines





  • Citigroup and Bank of America "surge more than 4 percent" (Bloomberg)
  • Foreigners buying up newspapers: first Slim-NYT, now Lebedev-Evening Standard (Moscow Times)
  • Fiat catches Chrysler virus, drops to 24-year low (Bloomberg)
  • American Airlines posts $69 million loss (
 

Tyler Durden's picture

January 21 Early Headlines





  • Citigroup and Bank of America "surge more than 4 percent" (Bloomberg)
  • Foreigners buying up newspapers: first Slim-NYT, now Lebedev-Evening Standard (Moscow Times)
  • Fiat catches Chrysler virus, drops to 24-year low (Bloomberg)
  • American Airlines posts $69 million loss (
 

Tyler Durden's picture

Hedge Fund Secondary Market Update





Today's vomitfest in the markets apparently was greeted by holders of HF LP interests with a sense of utmost urgency/capitulation. In a nutshell - not a single bid, and over $150 million in ask interest just on Feb. 21. Among the more notable parties on the selling block:

SAC Multi Strat - $15 mm
Eton Park - $7 mm
Atticus - $20 mm
Pershing Square - $20 mm
Conatus - $20 mm
Wexford (Spectrum and Catalyst) - $30 mm

If anyone has color as to where these clear we would be very interested.

 

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Breaking News: SEC's Cox Has Pulled Out; Mary "Kappa Beta Phi" Schapiro Stepping In





Chris Cox has said enough and resigned today at noon. After single-handedly destroying the primary U.S. regulator Cox took the back door. His replacement is Kappa Beta Phi sister Mary Schapiro who ran FINRA - the second most ineffectual regulator in the U.S.

Well, Mary, after Cox's stellar performance, it should not be tough to improve on expectations that are really low, kinda like Obama and all.

 

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General Motors Blames Worsening Global Economy for Not Knowing How to Work Excel





These headlines just hit. Let me paraphrase: "We are f@*&#d. Send guns, ammo and lawyers." Oh, and GM needs to take down breakeven level for future. Hey Bob Lutz, good work reading our suggestions. Curious just how many times the new "conservative" plan will have to be reworked.

 

Tyler Durden's picture

General Motors Blames Worsening Global Economy for Not Knowing How to Work Excel





These headlines just hit. Let me paraphrase: "We are f@*&#d. Send guns, ammo and lawyers." Oh, and GM needs to take down breakeven level for future. Hey Bob Lutz, good work reading our suggestions. Curious just how many times the new "conservative" plan will have to be reworked.

 

Tyler Durden's picture

Leverage Behemoth Freescale Downgraded, Bonds Pounded





S&P, which lately seems to be paying its credit "analysts" at a rate of $1/word and has imposed a minimum quota of 10 downgrades a week, whacked LBO titan Freescale late on Friday with a downgrade of its corporate rating from B+ to B-, its secured loans from BB to B- and bonds from B- to CCC.

 

Tyler Durden's picture

Leverage Behemoth Freescale Downgraded, Bonds Pounded





S&P, which lately seems to be paying its credit "analysts" at a rate of $1/word and has imposed a minimum quota of 10 downgrades a week, whacked LBO titan Freescale late on Friday with a downgrade of its corporate rating from B+ to B-, its secured loans from BB to B- and bonds from B- to CCC.

 

January 20th

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Tuesday Night Ponzi: Forte Capital





Florida, Indiana, Georgia, even Idaho, ponzis seem to pop up in the strangest of places. Next up: Philadelphia, where Joseph Forte, 53, was charged by U.S.

 

Tyler Durden's picture

Tuesday Night Ponzi: Forte Capital





Florida, Indiana, Georgia, even Idaho, ponzis seem to pop up in the strangest of places. Next up: Philadelphia, where Joseph Forte, 53, was charged by U.S.

 

Tyler Durden's picture

ETF Pick of The Day: TBT





Thank you Fast Money for pushing our other ETF pick and holding - double negative on treasuries but no negative carry: you get a dividend if you care about that kind of stuff. Cheap entry point at $40.33, with historical average $61.03. Thesis: the sell off in treasuries once people go back to risky assets, or once everyone stops buying them. China, Russia, Japan and Europe will have massive internal budget deficits to fund to care about buying treasuries, and the US can only print so much money to buy its own paper.

 
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