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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 them

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

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.

The primary debt market has taken advantage of people throwing money into the TARP pit, with two high yield energy companies on deck to raise capital over the next few hours (or as long as there is an uptick to the market): Chesapeake, in the form of $500 million 6 year notes, and Inergy, raising $200 million 6 year notes, both to refinance existing debt. As mattress are overflowing with worthless pieces of paper, it is likely that both these issues will be quickly digested by the market...

In what is likely the last step before officially declaring insolvency, California has halted the processing of state tax refunds. Per California State Controller John Chiang's office, "Unfortunately, we have asked the California Franchise Tax Board not to send over tax refund claims beginning today because we will not be able to process them and have them out the door by Feb.

*IMF SAYS U.S. ECONOMY TO SHRINK 1.6%, EURO AREA DOWN 2% IN '09
*IMF RAISES ESTIMATE OF BANK LOSSES FROM $1.4 TRILLION IN OCT.
*IMF: GLOBAL GROWTH TO BE 0.5% IN '09 VS 2.2% PRIOR ESTIMATE
*IMF SEES LOSSES FROM TOXIC U.S. ASSETS TOTALING $2.2 TRILLION

After costing most US hedge funds huge losses last year and Adolf Merkle his life, German prosecutors have finally opened an investigation into activities by "responsible people" at Porsche that have led to