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Index director John Prestbo comments that the Dow Jones Index has no intention of kicking out JPM and Bank of Financial Lynch. No reindexing for now.

CNBC reports John Thain had bought 84,600 shares yesterday. This translates to a loss of over $70,000 in one day. Enough to buy two commodes on legs or about 14 port-a-potties, which may be more prudent as the New York Unemployment Benefits hotline is still off the hook for the 4th week running.

****UPDATE****

The purchase apparently was at$5.71 so no major commode loss

$5.10 4Q EPS vs. $4.96 consensus.

More as our fingers unfreeze and we can type

Seems all is well.. They just need to not hire any more people...ever
Also about 85% of employees have stock options under water... Sergei and Larry? Not so much

As we were bored and there is only so much you can stare at MC Cabrera's.... face, we decided to investigate if the rumors of a mass exodus at Bank of Financial Lynch were true. We happened to pass by 133 East 64th and sure enough things seemed like an ordinary Thursday at Bernies.

As we were bored and there is only so much you can stare at MC Cabrera's.... face, we decided to investigate if the rumors of a mass exodus at Bank of Financial Lynch were true. We happened to pass by 133 East 64th and sure enough things seemed like an ordinary Thursday at Bernies.

*NEW YORK STATE LABOR DEPARTMENT PRESENTS DATA IN RELEASE
*NEW YORK STATE LOST 100,000 JOBS IN LAST 3 MONTHS OF 2008
*NEW YORK STATE UNEMPLOYMENT RISES TO 7% IN DECEMBER :NYC US
*NEW YORK JOBLESS AT HIGHEST SINCE JUNE 1994, STATE REPORTS

Good to see that mutual funds, even smallish ones, aren't faring any better than their BSD "hedging" brethren. In the words of Janus Capital CEO Gary Black, "the 4th quarter, for us and for everyone else, was dead." Janus' largest fund, the $7 billion Janus Twenty Fund fell 42% last year while the somewhat smaller Janus Orion Fund dropped 50%. Maybe they can rename it something cooler and people will forget all about this abysmal performance?

The Brits are scared... very scared

The Brits are scared... very scared

The Donald managed to convince his bondholders and senior lenders that he is worthy of yet another temporary reprieve, and announced a two week forbearance extension early today. At this point February 4 is the D-Day at which point the $53 million unpaid interest on the $1.25 billion 8.5% Notes due 2015 become fully due.

The Donald managed to convince his bondholders and senior lenders that he is worthy of yet another temporary reprieve, and announced a two week forbearance extension early today. At this point February 4 is the D-Day at which point the $53 million unpaid interest on the $1.25 billion 8.5% Notes due 2015 become fully due.

Dubai's Istithmar investing company, which purchased the Company for $942 million in 2007, says it is sick of this whole aspirational consumer bullshit and wants a refund...

Per Charlie; WSJ Confirms

The $87 thousand rug really did tie the office together though.

****UPDATE*****

Bloomberg reports that Thain is resigning by "mutual agreement"