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Overview Of The Travails At Norway's Sovereign Wealth Fund
Submitted by Tyler Durden on 02/03/2009 00:27 -0400Bloomberg has done a good (and lengthy) analysis of the worst year ever of the world's third largest sovereign wealth fund, the $300 billion Norway Government Pension Fund.
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Daschle Withdraws Nomination To Be Health and Human Services Secretary
Submitted by Tyler Durden on 02/03/2009 18:50 -0400
From Daschle's statement:
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Lehman Advisors to Pocket $1.4 Billion
Submitted by Tyler Durden on 02/04/2009 14:34 -0400
As we have pointed out before (here and here), the free-for-all that is the Lehman bankruptcy case is a gold mine for a whole lot of scavengers.
Cement Industry Really Stuck To Bottom Of River
Submitted by Tyler Durden on 02/04/2009 18:42 -0400
First HeidelbergCement, now Cemex.
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Late Wednesday Headlines
Submitted by Tyler Durden on 02/05/2009 04:32 -0400Brief headlines here as we go thru the Madoff list and try to determine if Kim Kardashian is now trustfundless:
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Eric Holder To Be Sworn In As U.S. Attorney General
Submitted by Tyler Durden on 02/03/2009 01:04 -0400
In other tax evading news (just kidding) Eric Holder won the Senate vote to be U.S. Attorney General with a 75-21 total vote. While nobody has found any irregularities with Eric's 1040 forms (yet), he has had his share of notoriety for pardoning fugitive financier Marc Rich when he was deputy AG under Bill Clinton.
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Daschle Withdraws Nomination To Be Health and Human Services Secretary
Submitted by Tyler Durden on 02/03/2009 18:50 -0400
From Daschle's statement:
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- 770 reads
Lehman Advisors to Pocket $1.4 Billion
Submitted by Tyler Durden on 02/04/2009 14:34 -0400
As we have pointed out before (here and here), the free-for-all that is the Lehman bankruptcy case is a gold mine for a whole lot of scavengers.
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- 1154 reads
Melissa Francis v. Gasparino Round 1
Submitted by Tyler Durden on 02/04/2009 19:04 -0400Extra, Extra, Gasparino threatens to quit! Read all about it!
This exciting exchange just on CNBC:
Gasparino: Let me finish!
Melissa Francis: But you never finish!
Gasparino: Really? I could do this for some other place.... Please don't go down that road.
Bill Griffeth and MC Cabrera: [awkward laughter and shifty glances]
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Early Feb 5 Headlines
Submitted by Tyler Durden on 02/05/2009 13:58 -0400- Second-biggest reinsurer Swiss Re asks for $2.6 billion from Warren to keep rating (Bloomberg)
- Russia in Asia - we wrote about this, but WSJ thinks it is serious enough to bear repeating (WSJ)
- Not Ken Lewis' fault? Blame Bernanke - U.S.
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Should Investors Buy What the Government is Buying?
Submitted by Tyler Durden on 02/03/2009 02:33 -0400Granted this topic deserves a much more extensive analysis and I hope to readdress it in the near future (but in the mean time welcome any thoughts), today Morgan Stanley is out with a note that brings up relevant good points.
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GM January Sales Out: Even Uglier
Submitted by Tyler Durden on 02/03/2009 19:50 -0400Total down -48.8% vs -39.3% Estimates.
Cars down -57.9%, trucks down -42.4%
Q1 2009 production forecast at 380,000 vehicles
Curious tidbits: there were no sales of the following cars and trucks in January countrywide:
Monte Carlo, SSR, GTO, Ion, Rendezvous, and Hummer H1
Working to calculate SAAR at this point, but it looks waaaaay lower than 10 million
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Goldman Reduced Risky Assets by 70% in 2008
Submitted by Tyler Durden on 02/04/2009 14:47 -0400As most financial firms were busy blaming each other and Lehman's bankruptcy for the upcoming $500,000 salary cap, Goldman was offloading bad assets (leveraged loans, residential and commercial real estate).
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Wells On The Hook for Vegas Boondoggle Cancellation Fee
Submitted by Tyler Durden on 02/04/2009 19:18 -0400
Just goes to show you never can win. Wells Fargo decided to cancel its Wynn Las Vegas boondoggle after someone leaked the dirty secret to the press, and now is stuck with the bill regardless.
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Jobless Claims Worse Even Than Worst Case
Submitted by Tyler Durden on 02/05/2009 14:30 -0400Actual: 626k, Survey: 580k, top end of estimate 620k.
and scene
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