This page has been archived and commenting is disabled.
Gannett to Fire Everyone for a Week
Submitted by Tyler Durden on 01/14/2009 18:46 -0400In a memo to its employees, the struggling newspaper company announced that all workers, including CEO Craig Dubow, will take one week unpaid leave this quarter to help the publisher save money.
»
- 1100 reads
Breaking News: GM Cuts 2009 Sales Outlook as Economy Worsens
Submitted by Tyler Durden on 01/15/2009 18:45 -0400
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.
»
- 704 reads
Private Equity to Sift For Cement Shoes
Submitted by Tyler Durden on 01/16/2009 01:47 -0400
The Wall Street Journal reports that HeidelbergCement, whose CDS jumped by about 300 bps since when we wrote about the brewing troubles at the German cement maker, may be bailed out by Goldman Sachs and TPG who are allegedly considering buying
»
- Read more
- 1031 reads
Former NYT Editor To Control Car Industry
Submitted by Tyler Durden on 01/13/2009 19:06 -0400
In an article today, Bloomberg picks up on a theme that we commented on yesterday regarding Steve Rattner's imminent appointment to the throne of all things auto.
»
- Read more
- 913 reads
Have You Seen This Man?
Submitted by Tyler Durden on 01/14/2009 04:36 -0400
And the list is growing... First Schrenker and now Raoul Weil, Former Chairman and CEO of Global Wealth Management at UBS. In the order attached below, Judge James Cohn of the Southern District of Florida announced that Raoul is now a fugitive. The UBS bigman, had been previously charged with tax fraud conspiracy.
»
- Read more
- 887 reads
BWICs are Bwack As Funds Resume Dismantling Themselves
Submitted by Tyler Durden on 01/14/2009 19:53 -0400
In a first for 2009, a $200 million loan BWIC was distributed earlier this week, indicating the deleveraging of hedge funds' credit books is far from over.
»
- Read more
- 1731 reads
Lehman Carcass: Feeding Ground for 513 Lawyers
Submitted by Tyler Durden on 01/15/2009 18:59 -0400A notice sent out yesterday to all known and unknown lawyers involved in the "biggest bankruptcy of all time" can be found here.
Lawyers A Thru C, for full list click above
»
- Read more
- 957 reads
Icahn Making Sure Rust Really Sticks to Steel
Submitted by Tyler Durden on 01/16/2009 03:10 -0400
As previously reported, Steel Partners is trying to stick it to investors by unilaterally deciding to do a reverse merger something or another, ultimately to prevent investors from redeeming in a pseudo-liquid public vehicle called WebFinancial Co
»
- Read more
- 1023 reads
Hey S&P, Not Too Late To Hit Recall
Submitted by Tyler Durden on 01/13/2009 20:00 -0400*U.S. DEC. BUDGET DEFICIT AT $83.6 BILLION ON HIGHER SPENDING
*U.S. BUDGET GAP IN FISCAL 1ST-QTR SOARS TO RECORD $485.2 BLN
*U.S. DECEMBER BUDGET GAP IN LINE WITH FORECAST FOR $83 BLN
*U.S. DECEMBER SPENDING RISES 41% TO $321 BLN, TREASURY SAYS
*U.S. DECEMBER REVENUE FALLS 14% TO $238 BLN, TREASURY SAYS
*U.S. DEC. DEFICIT COMPARES WITH $48.3 BLN SURPLUS YEAR EARLIER
Or maybe this merits an upgrade in S&P's view?
»
- 846 reads
Schrenker Captured!
Submitted by Tyler Durden on 01/14/2009 05:01 -0400WSJ, and CNN report that Schrenker is in the custody of the Gadsden County Sheriff's Office. Lt. Jim Corder says Marcus is alive and well. Schrenker managed to traverse a distance of 275 miles, from the house he showed up at on Sunday night in Childersburg, Ala, to his current location at Tallahassee Memorial Hosptial as apparently he had slit his wrists shortly before being captured.
»
- Read more
- 550 reads
Lehman Posts Bankruptcy Status Update
Submitted by Tyler Durden on 01/14/2009 20:18 -0400
Once the 4th largest investment bank in the U.S., and the house that Dick Fuld built, Lehman Brothers' today posted an update of its reorganization status in an 8K with the SEC. In a very interesting analysis by Alvarez & Marsal, several things become obvious.
»
- 2 comments
- Read more
- 1931 reads
Lehman Carcass: Feeding Ground for 513 Lawyers
Submitted by Tyler Durden on 01/15/2009 18:59 -0400A notice sent out yesterday to all known and unknown lawyers involved in the "biggest bankruptcy of all time" can be found here.
Lawyers A Thru C, for full list click above
»
- Read more
- 981 reads
Icahn Making Sure Rust Really Sticks to Steel
Submitted by Tyler Durden on 01/16/2009 03:10 -0400
As previously reported, Steel Partners is trying to stick it to investors by unilaterally deciding to do a reverse merger something or another, ultimately to prevent investors from redeeming in a pseudo-liquid public vehicle called WebFinancial
»
- Read more
- 1240 reads
4 out of 5 Vultures Agree Excrement About to Go Nuclear
Submitted by Tyler Durden on 01/13/2009 20:06 -0400
As much as I hate to break it to Larry Kudlow and his unending "Ted-Spread is Down" monolog, the outlook for 2009 as per some people who actually know the business, although granted are heavily axed on the apocalypse bidside, is so bad, we should all just be buying rahmen noodles, crank radios, a
»
- Read more
- 1838 reads
Schrenker Captured!
Submitted by Tyler Durden on 01/14/2009 05:01 -0400WSJ, and CNN report that Schrenker is in the custody of the Gadsden County Sheriff's Office. Lt. Jim Corder says Marcus is alive and well. Schrenker managed to traverse a distance of 275 miles, from the house he showed up at on Sunday night in Childersburg, Ala, to his current location at Tallahassee Memorial Hosptial as apparently he had slit his wrists shortly before being captured.
»
- Read more
- 501 reads