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Janus Capital Hits All Time Low
Submitted by Tyler Durden on 01/22/2009 18:59 -0400Good 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?
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New York Times in Sale Leaseback Talks with W.P. Carey
Submitted by Tyler Durden on 01/23/2009 04:56 -0400
In one of those nauseating mirror-in-a-mirror type of news events, NYT reports that the NYT is in advanced sale-leaseback talks with W.P. Carey.
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REITs Next To Receive Bail-Out Funding?
Submitted by Tyler Durden on 01/20/2009 20:46 -0400REITs are in trouble. Let me paraphrase that - REITs are in very big trouble. These companies whose very existence presumes significant equity value in their underlying investments are feeling a lot of pain these days with commercial mortgages on the verge of a default tsunami.
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General Motors Blames Worsening Global Economy for Not Knowing How to Work Excel
Submitted by Tyler Durden on 01/21/2009 02:50 -0400
These headlines just hit. Let me paraphrase: "We are f@*&#d. Send guns, ammo and lawyers." Oh, and GM needs to take down breakeven level for future. Hey Bob Lutz, good work reading our suggestions. Curious just how many times the new "conservative" plan will have to be reworked.
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Downgrade Watch: First Greece, Then Spain, Now Portugal... Make it Stop
Submitted by Tyler Durden on 01/21/2009 18:23 -0400
Well, can't say we didnt see it coming. Portugal was downgraded with impunity by S&P from AA- to A+ on the belief that "the government's structural reform measures relating to the economy and public finances have proven insufficient to bring about convergence with the 'AA' peer group." And what a high quality peer group it is.
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January 22 Early Headlines
Submitted by Tyler Durden on 01/22/2009 14:42 -0400- The Mattress Savings plan (OptionARM via FT Alphaville)
- Russia reserves lost $30.3 billion last week in ongoing failed attempt to prop ruble (Bloomberg)
- Gold from the British Pound perspective (FT Alphaville)
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NYS Unemployment Highest Since 1994. And This Only For Q4
Submitted by Tyler Durden on 01/22/2009 19:13 -0400*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
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January 23 Early Headlines
Submitted by Tyler Durden on 01/23/2009 14:15 -0400»
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Anton Valukas Named Examiner in Lehman Bankruptcy Case
Submitted by Tyler Durden on 01/20/2009 21:55 -0400
Anton Valukas, a Jenner and Block lawyer who specializes in criminal law and business litigation, was appointed the role of examiner in Lehman's bankruptcy case.
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Breaking News: SEC's Cox Has Pulled Out; Mary "Kappa Beta Phi" Schapiro Stepping In
Submitted by Tyler Durden on 01/21/2009 03:01 -0400Chris Cox has said enough and resigned today at noon. After single-handedly destroying the primary U.S. regulator Cox took the back door. His replacement is Kappa Beta Phi sister Mary Schapiro who ran FINRA - the second most ineffectual regulator in the U.S.
Well, Mary, after Cox's stellar performance, it should not be tough to improve on expectations that are really low, kinda like Obama and all.
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Update: Nielsen Price Talk Confirmed
Submitted by Tyler Durden on 01/21/2009 18:41 -0400Investors with $300 million burning a hole in their pocket will be able to pick up the triple hook rated piece of media paper at a 14.5-14.75% yield. We say no way jose.
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Bank Bailout: Two Sides of The Non-Nationalization Coin
Submitted by Tyler Durden on 01/22/2009 15:06 -0400The drama in U.K. financials this week highlighted the systemic division as to how different governments approach the "bail out" problem absent of an outright nationalization. The current two main options on the table, which Obama's administration will have to pick and choose from unless he decides to nationalize Citi, BofA, and others outright, are the "aggregator bank" and the "bad bank" models, as seen in the U.K. and in Switzerland, respectively.
Swiss National Bank (SNB) Model
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Midday Trip to Bryant Park One
Submitted by Tyler Durden on 01/22/2009 21:45 -0400As 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.
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Bank of Countrywide Lynch Layoff Update
Submitted by Tyler Durden on 01/23/2009 15:20 -0400Yesterday all of the F/X research desk
Today virtually all the F/X sales and traders
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Standard 'N Poor in Full Downgrade Mode: Jefferies and Whirlpool Now
Submitted by Tyler Durden on 01/20/2009 22:07 -0400Whirlpool debt downgraded to BBB- from BBB, while Jefferies goes to BBB from BBB+. S'n'P now only 10 steps behind the back of the bus.
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