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In Other News: TED Spread "Down"
Submitted by Tyler Durden on 01/14/2009 18:19 -0400In seeming vindication of Kudlow's theory that all shall be well, the TED spread is ignoring the slew of bankruptcies, the bottom falling out of the market, Zimbabwe's trillion % inflation rate, Vikram's impending pink slip birthday present, and tightening to 0.98%, its tightest spread in 5 months.
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ETF Pick of the Week: SRS
Submitted by Tyler Durden on 01/15/2009 16:35 -0400
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Banc of America Moving Earnings Date to Coincide with Citi
Submitted by Tyler Durden on 01/15/2009 23:42 -0400The previously scheduled January 20 conference call is being pulled to January 16 Friday bright and early at 7am. Ken Lewis undoubtedly has many good news he cant wait to share. At least it is not at same time as Citi (8am), or one would think one is trying to hide behind the other... which is simply ludicrous
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Count Vikula Mid-Term Grade in Accounting Alchemy: A+
Submitted by Tyler Durden on 01/12/2009 03:17 -0400
In the latest round of government-mediated financial synesthesia, Citi is parting with its brokerage crown jewel and making it seems like a sweet deal for investors, tax payers (also investors), and the three or four other people who care about the mass insanity that occurs in present day capital
Too Much Bad Fish Scuttles Landry's LBO
Submitted by Tyler Durden on 01/12/2009 22:58 -0400
Landry's stock tumbled today to an all time low of $6.63, before regaining a little and closing 50% down after announcing in a very cryptic press release that it is cancelling its LBO/MBO with Fertitta Holdings, the family that own
U.S. Renaissance Late, Ted-Spread Blamed
Submitted by Tyler Durden on 01/13/2009 17:25 -0400Is anyone else tired of hearing Larry Kudlow's claims that the "Ted Spread is down" (which we assume is the new way of saying a spread is tighter, or alternatively the CNBC grammer nazis could be on strike, as evidenced by such pearls from Trish Regan as "Retail consumer spending changing for the good") will be the reason for the next American golden age?
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Count Vikula Mid-Term Grade in Accounting Alchemy: A+
Submitted by Tyler Durden on 01/12/2009 03:17 -0400
In the latest round of government-mediated financial synesthesia, Citi is parting with its brokerage crown jewel and making it seems like a sweet deal for investors, tax payers (also investors), and the three or four other people who care about the mass insanity that occurs in present day capit
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Ze Germans Are Spending
Submitted by Tyler Durden on 01/12/2009 23:14 -0400BN *GERMAN COALITION PARTIES AGREE TO SPEND EU50 BLN ON STIMULUS
Good thing people are at least buying their bonds...mmm wait, nevermind... Oh well, fire up the reichsmark printing press and get those wheelbarrels ready
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Wall Street's diarrhea shi(f)ting to Park Street er... Avenue
Submitted by Tyler Durden on 01/09/2009 22:00 -0400
One can follow the daily creation and destruction of wealth simply by looking at the constantly shifting landscape in New York. Could Ezra Merkin's recent fall from grace, from the top of GMAC, and potentially from duplex 6/7B spell some days of uncertainty in this otherwise inperturbable bastion of high money, 740 Park.
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I've got a stomachful of Xanax. I took what was left of a bottle. It might have been too much.
Submitted by Tyler Durden on 01/12/2009 15:22 -0400
You can't make this shit up. All you Hollywood agents scouring under the skirts of Daily Grill waitresses for your next script look no further (I will merely accept a firm virtual handshake and advance rights for my upcoming book), and all you employed sales people, here is a brilliant idea for how to bring your career to new heights...
Just as All The Media Choppers Vacate Midtown...
Submitted by Tyler Durden on 01/12/2009 23:54 -0400BN 17:55 *U.S. GOVERNMENT SAYS IT WILL APPEAL MADOFF BAIL RULING
Time to refuel the Embraer
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Bulumics Can Not Save Fake Sugar from Chapter 11
Submitted by Tyler Durden on 01/09/2009 23:06 -0400
If only sugar free meant debt free... In sweet vindication for fat people everywhere, Merisant today filed for bankruptcy. The maker of Equal and Canderel fake sugar sought Chapter 11 protection. The Pegasus Capital portfolio company (hm...
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I've got a stomachful of Xanax. I took what was left of a bottle. It might have been too much.
Submitted by Tyler Durden on 01/12/2009 15:22 -0400
You can't make this shit up. All you Hollywood agents scouring under the skirts of Daily Grill waitresses for your next script look no further (I will merely accept a firm virtual handshake and advance rights for my upcoming book), and all you employed sales people, here is a brilliant idea for how to bring your career to new heights...
Nortel Bondholders Biting Their Nails
Submitted by Tyler Durden on 01/13/2009 01:09 -0400As we reported on January 9, the likelihood of a Nortel bankrtupcy filing this coming Wednesday (coupon payment date) is high to quite high. Recent rumors from the underground community had suggested that Huawei was licking its chops at NT's metropolitan ethernet business and would pay up to $1 billion. However, based on reports from forbes and debtwire from earlier today, the deal is dead in the water. Ooops.
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...But Can Lose Even More Weight By Walking There
Submitted by Tyler Durden on 01/09/2009 23:38 -0400
Is Business Week merely slapping the faces of all those investors who in recent weeks bought a slew of follow-on stock issued by airline companies (probably the only companies raising capital in the past few months as $35 barrel/oi
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