Archive
January 15th
Breaking News: Governator About to Hire Lazard to Find DIP
Submitted by Tyler Durden on 01/15/2009 18:20 -0500*SCHWARZENEGGER SAYS CALIFORNIA IS IN `STATE OF EMERGENCY'
Blackstone Doesn't Owe Break-Up Fee to ADS
Submitted by Tyler Durden on 01/15/2009 18:11 -0500Insider trading powerhouse Blackstone has been granted some relief over its scuttled $6.6 Billion acquisition of Alliance Data Systems, and Delaware Chancery Court Judge Leo Strine has ruled they are off the hook for the $170 million break up fee.
Lehman Carcass: Feeding Ground for 513 Lawyers
Submitted by Tyler Durden on 01/15/2009 17:59 -0500A notice sent out yesterday to all known and unknown lawyers involved in the "biggest bankruptcy of all time" can be found here.
Lehman Carcass: Feeding Ground for 513 Lawyers
Submitted by Tyler Durden on 01/15/2009 17:59 -0500A notice sent out yesterday to all known and unknown lawyers involved in the "biggest bankruptcy of all time" can be found here.
Breaking News: GM Cuts 2009 Sales Outlook as Economy Worsens
Submitted by Tyler Durden on 01/15/2009 17:45 -0500
Translation: taxpayers, give us your wallets. Allegedly, GM will present a new top end estimate (which recently was the absolutely worst case estimate) of 10.5 million, down from 12 million, at a Deutsche Bank conference later today.
Turkey Central Bank Rate Cut To 13%
Submitted by Tyler Durden on 01/15/2009 17:02 -0500Now that's some aggressive rate cutting
Chris Whalen: Bankruptcy Inevitable "End Game" for Citi
Submitted by Tyler Durden on 01/15/2009 16:19 -0500In a Bloomberg TV telephonic interview, Christopher Whalen, managing director of Institutional Risk Analytics, discusses the possibility that Citi may file for bankruptcy, which according to him is "inevitable". Our advice to Vikram regardless of what he does - don't hire Lazard if you need a DIP.
Ezra Merkin's 6/7B Duplex at 740 Park About to Go For Sale
Submitted by Tyler Durden on 01/15/2009 15:08 -0500According to CNBC sources, NY AG Cuomo has issued a subpoena to Merkin to explain his relationship to Madoff, some charities, and encompasses Ezra's Ascot and Ariel funds.
********UPDATE********
"At least 10 prosecutors are involved in the investigation"..... uh oh, they really are regrouping forces on this one
Moody's Lowers JPM to Aa3 from AA2
Submitted by Tyler Durden on 01/15/2009 15:05 -0500Buffett's cronies finally waking up
Despite Huge Cash Hoard, Potential DIP Lenders Say Throw To Lions
Submitted by Tyler Durden on 01/15/2009 14:45 -0500Death List Keeps Growing
Submitted by Tyler Durden on 01/15/2009 14:23 -0500We made some predictions yesterday about the bankruptcies to hit dockets today.... and they are starting to roll in:
January 14th
Breaking Expose: So... Where are Frank and Charlie?
Submitted by Tyler Durden on 01/14/2009 23:53 -0500With the public's attention having been exclusively focused on Bernie, his sons Marc and Andrew, and Bernie's "three-man accountant company" lead by David Friehling, a question that is intriguing more and more people is who/what/where are Frank DiPascali, the 51 year old CFO of Bernard L Madoff, and Charles Wiener, Bernie's 50 year old nephew, listed as Director of Administration, who were the only other tenants on floor 17 of 885 Third Avenue.
Breaking News: Steve Jobs to take Medical Leave Until End of June
Submitted by Tyler Durden on 01/14/2009 21:36 -0500"Team, I am sure all of you saw my letter last week sharing something very personal with the Apple community. Unfortunately, the curiosity over my personal health continues to be a distraction not only for me and my family,but everyone else at Apple as well. In addition, during the past week I have learned that my health-related issues are more complex than I originally thought.
And The Hits Keep on Coming
Submitted by Tyler Durden on 01/14/2009 21:27 -0500According to TrimTabs, record $148 Billion in Hedge Fund outflows in December.
Deleveraging may have a day or two to go.






