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The Donald Avoids Bankruptcy AGAIN
Submitted by Tyler Durden on 01/22/2009 18:27 -0400
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.
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Latest Housing Starts and Unemployment Claims
Submitted by Tyler Durden on 01/23/2009 02:52 -0400Presented without comment
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Risk-Free Profit Idea of the Day
Submitted by Tyler Durden on 01/16/2009 19:47 -0400Buy: Barrels of Oil (we do not have a position in this "security" so we hope the SEC does not bust our front door in an hour for position peddling)
Why? You pocket $25 RISK FREE per barrel for just holding on to it for 11 months
What is the Catch? U need a place to store a couple of barrels of oil...
Death Watch: New Entrant - New York Times
Submitted by Tyler Durden on 01/17/2009 19:39 -0400
The WSJ reports ($$$ link) that Mexican billionaire (or is that millionaire now, we need to double check) Carlos Slim Helu may bail out the New York Times.
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Sentinel Management Trader Was Paid With Lap Dances To "Bring Firm Down"
Submitted by Tyler Durden on 01/19/2009 19:02 -0400In an update to the lawsuit filed by trustee Fred Grede against bankrupt cash management firm Sentinel Management Group, head trader Charles Mosley has been accused of accepting bribes including lap dances, expensive dinners and 2006 Orange Bowl tickets from Cohen & Co. and Keefe Bruyette & Woods (the original case description can be found here).
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Putin Can Teach West A Thing Or Two About Capitalism
Submitted by Tyler Durden on 01/20/2009 04:45 -0400
CEO of Russia in Perpetuity, Vladimir Putin, was faced Monday with the tough truth of plummeting oil prices. Oil, of course, has been the lifeblood of Russia's renaissance in recent years.
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JC Penney Firmly Denies It Should be On Death Watch
Submitted by Tyler Durden on 01/20/2009 19:50 -0400JC Penney just issued a great PR titled "JCPenney Clarifies Unfounded Market Concerns Regarding Its Revolving Credit Facility."
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Risk-Free Profit Idea of the Day
Submitted by Tyler Durden on 01/16/2009 19:47 -0400Buy: Barrels of Oil (we do not have a position in this "security" so we hope the SEC does not bust our front door in an hour for position peddling)
Why? You pocket $25 RISK FREE per barrel for just holding on to it for 11 months
What is the Catch? U need a place to store a couple of barrels of oil...
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- 756 reads
Death Watch: New Entrant - New York Times
Submitted by Tyler Durden on 01/17/2009 19:39 -0400
The WSJ reports ($$$ link) that Mexican billionaire (or is that millionaire now, we need to double check) Carlos Slim Helu may bail out the New York Times.
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Attention Steve Rattner: Please Check This Out
Submitted by Tyler Durden on 01/19/2009 20:02 -0400As the clock ticks on labor and creditor negotiations for the Detroit 3 (it seems like only yesterday that people called them the Big 3) ahead of the March 31 deadline for the thumbs up/down decision, it might be prudent to look at this. All over the world millions of brand new unsold cars are piling up in vacant lots.
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January 20 Early Headlines
Submitted by Tyler Durden on 01/20/2009 14:03 -0400- The pound is dead, long live the pound (Bloomberg)
- Banc of America expected to cut up to 4,000 in its capital markets group (CNBC)
- UAW's Ron Gettelfinger "Deadline may be almost unattainable" (Detroit Free Press)
- Fiat getting 35% of Chrysler, forming global alliance (
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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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Citi About to Bear the Brunt of Moody's Anger
Submitted by Tyler Durden on 01/16/2009 21:27 -0400Tha company has been put under review for a downgrade by Moody's.... What can you say - always one step ahead of the crowd. Their Prime Rating is most at risk at A-2. If this gets whacked several notches, no more access to commercial paper... Oops
*********UPDATE**********
Moody's just downgraded Banc of America/Merrill Lynch senior rating to A1 from Aa3. Kinda like Lehman was rated A1 on the day of its bankruptcy.
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$100 Trillion Note Unveiled in Zimbabwe
Submitted by Tyler Durden on 01/17/2009 20:43 -0400
It has been 4 days since we demonstrated Zimbabwe's recently issued $50 billion note...
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Death Watch: Greece, and What Its Default Could Mean
Submitted by Tyler Durden on 01/19/2009 20:35 -0400
The biggest threat to the U.S. Obama rally and the miracle recovery proposed by Democrats in the $825 billion bail out package may possibly reside about 6,000 miles away in Greece.
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