Archive - Story

• 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.

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.

*POUND WEAKENS ON SPECULATION U.K. CREDIT LOSSES WILL SPREAD
*POUND FALLS TO SIX-YEAR LOW OF $1.4295 AGAINST DOLLAR

Yes, we all know median home prices are down, nobody is buying or selling anything, 30 year mortgages are the cheapest they have ever been but nobody can get one, yada yada... However, this is all for California, Nevada and Detroit, right? Wrong.

Bridgewater quant guru and author of A Demon of Our Own Design, Rick Bookstabber, has found an unexpected role in this curious take on Dr. Seuss' The Lorax.

Cerberus is allegedly laying off 10% of its worldwide staff of 275 professionals. According to a spokesman "Any action we take will, of course, be consistent with the best interests of our investors." I wonder if those interests were consulted when the PE firm acquired Chrysler and/or the 51% stake of GMAC. Other PE firms performing actions consistent with investors' best interests include American Capital, Carlyle, Investcorp and 3i.

Ladenburg analyst Dick Bove (who understandably underestimated the stupidity of the Treasury and on Sept. 12 stated his belief that "Banc of America will win the auction for Lehman Brothers.") has just whacked his target price for Citi from $14 to $6, and is projecting a 2009 loss of ($1.45), a whole buck lower than consensus estimates.

Ladenburg analyst Dick Bove (who understandably underestimated the stupidity of the Treasury and on Sept. 12 stated his belief that "Banc of America will win the auction for Lehman Brothers.") has just whacked his target price for Citi from $14 to $6, and is projecting a 2009 loss of ($1.45), a whole buck lower than consensus estimates.

Ladenburg analyst Dick Bove (who understandably underestimated the stupidity of the Treasury and on Sept. 12 stated his belief that "Banc of America will win the auction for Lehman Brothers.") has just whacked his target price for Citi from $14 to $6, and is projecting a 2009 loss of ($1.45), a whole buck lower than consensus estimates.

The biggest threat to the U.S. Obama rally and the miracle recovery proposed by Democrats in the $825 billion bail out package may possibly reside about 6,000 miles away in Greece.

The biggest threat to the U.S. Obama rally and the miracle recovery proposed by Democrats in the $825 billion bail out package may possibly reside about 6,000 miles away in Greece.