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One Down, Few More To Go
Submitted by Tyler Durden on 01/14/2009 17:26 -0400Nortel already decided to pull the plug and set Lazard's plan for weekly trips to the slumdens of Toronto in motion.
Next on Deck are the following (di)stressed companies with coupon payments due today (this is not an exhaustive list):
AbitibiBowater - 15.5% Notes due 7/15/2015 and 10.6% Notes due 1/15/2011
Allis-Chalmers - 9.0% Notes due 1/15/2014
Ames True Temper - FRNs due 1/15/2012
Atlantic Broadband - 9.375% Notes due 1/15/2014
Charter Communications - 11.125% Notes due 1/15/2011 and 13.5% Notes due 1/15/2011
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Moody's Lowers JPM to Aa3 from AA2
Submitted by Tyler Durden on 01/15/2009 16:05 -0400Buffett's cronies finally waking up
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Breaking News: US Airways Plane Has Crash-Landed in Hudson River
Submitted by Tyler Durden on 01/15/2009 21:44 -0400
Apparently the plane is an Airbus 320 flying from LaGuardia to Charlotte, NC. The plane is semi-submerged in the Hudson River and is "slowly sinking". According to the US Airways website this is flight 1549. Media reports there were 148 passengers and 6 crew members onboard when the plane crash-landed into the river. The plane struck a flock of geese on take off. The crash occurred off of 50th street in Manhattan.
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Titanium Looking Kinda Rusty Too
Submitted by Tyler Durden on 01/11/2009 23:22 -0400People suffering from a morbid obsession with titanium dioxide and its principal producer, Tronox Inc., are frantically clicking refresh on Pacer to see the moment the company files for Chapter 11 in Southern District of NY on this cold evening. Reuters cites sources that the filing should come any moment.
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His Name Is Robert Paulson... Er, JP Morgan
Submitted by Tyler Durden on 01/12/2009 22:21 -0400All is well.... Repeat All is well.... In fact we can't wait to tell this to you asap.
BN 16:20 *JPMORGAN CHASE HAD EXPECTED TO RELEASE 4Q EARNINGS ON JAN. 21
BN 16:20 *JPMORGAN CHASE SETS NEW DATE OF JAN. 15 FOR 4Q RELEASE :JPM US
BN 16:20 *JPMORGAN CHASE SETS NEW DATE FOR 4Q EARNINGS RELEASE :JPM US
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U.S. Not Spain, S&P Claims
Submitted by Tyler Durden on 01/13/2009 16:52 -0400
Just as our opinion of S&P was notched up to deplorable from abysmal, they go ahead and pull this wool over our eyes:
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Ackman and Burkle Agree to Disagree over America's Illiteracy Trends
Submitted by Tyler Durden on 01/12/2009 00:00 -0400
Even as Barnes and Noble posts a scary -7.7% comp store number for the "holiday" period, two major holders play hot potato with a big chunk of the retailer's equity.
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. Not Spain, S&P Claims
Submitted by Tyler Durden on 01/13/2009 16:52 -0400
Just as our opinion of S&P was notched up to deplorable from abysmal, they go ahead and pull this wool over our eyes:
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- 963 reads
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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- 1059 reads
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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- 771 reads
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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