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January 21 Early Headlines
Submitted by Tyler Durden on 01/21/2009 15:10 -0400- Citigroup and Bank of America "surge more than 4 percent" (Bloomberg)
- Foreigners buying up newspapers: first Slim-NYT, now Lebedev-Evening Standard (Moscow Times)
- Fiat catches Chrysler virus, drops to 24-year low (Bloomberg)
- American Airlines posts $69 million loss (
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Daily Ponz: Now in Texas
Submitted by Tyler Durden on 01/21/2009 19:57 -0400A hedge fund run by a former bail bondsman? He had a swimming pool in his office? $45 million hedge fund?
Sigh. Read all about Rod Cameron Stringer,43, and RCS Capital.
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NY City - NY State Rivalry Escalates to All Out War in Face of Apocalypse
Submitted by Tyler Durden on 01/22/2009 16:06 -0400New York Mayor Mike Bloomberg testified before the state assembly ways and means committee about what the proposed NY State budget would mean for NYC. In a nutshell, NYC is on the verge of 1970's Taxi Driver status.
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Adding Insult to Pink Slip
Submitted by Tyler Durden on 01/22/2009 22:06 -0400CNBC reports John Thain had bought 84,600 shares yesterday. This translates to a loss of over $70,000 in one day. Enough to buy two commodes on legs or about 14 port-a-potties, which may be more prudent as the New York Unemployment Benefits hotline is still off the hook for the 4th week running.
****UPDATE****
The purchase apparently was at$5.71 so no major commode loss
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Let's Hear it For The New Deathwatch Participants
Submitted by Tyler Durden on 01/23/2009 16:21 -0400
We usually make a lot of fun of Yahoo Finance for their sophisticated outlook on the economy. In this case they may have been on to something.
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MGM Selling Mirage to Penn National Redux
Submitted by Tyler Durden on 01/20/2009 22:23 -0400
Debtwire's secret spies reiterate the rumor we initially picked up almost two weeks ago.
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- 697 reads
GM Beginning To Share Erin Burnett's Outlook on Life
Submitted by Tyler Durden on 01/21/2009 15:25 -04009:21 *GM SAYS JANUARY U.S. SALES RATE MAY BE BELOW 10 MILLION
So you are saying 10.5 million was optimistic huh
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How to Get Invited To Secret Investing Societies
Submitted by Tyler Durden on 01/21/2009 20:46 -0400
As investment banking is now dead and sell side research is even more useless than it ever was, people are stumped over how and where to get their investing ideas.
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- 1013 reads
Ruble Crutches Coming Off Tomorrow
Submitted by Tyler Durden on 01/22/2009 16:27 -0400
After blowing over a hundred billion dollars propping up its currency, Russia's Central Bank has had enough and beginning tomorrow it has set the weak end of the Ruble's trading range against a basket of dollars and euros at 41.
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- 475 reads
Dow Jones Will Not Change Constituents
Submitted by Tyler Durden on 01/22/2009 22:27 -0400Index director John Prestbo comments that the Dow Jones Index has no intention of kicking out JPM and Bank of Financial Lynch. No reindexing for now.
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Xerox Joins The "We Reduce Guidance" Group
Submitted by Tyler Durden on 01/23/2009 16:41 -0400Xerox (XRX) announced in its Q4 press release that its earnings for 2009 will likely be about $1/share, significantly below the consensus estimate of $1.13. We will keep a close watch on them to see if they merit a Death Watch badge in the coming months.
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MGM Selling Mirage to Penn National Redux
Submitted by Tyler Durden on 01/20/2009 22:23 -0400
Debtwire's secret spies reiterate the rumor we initially picked up almost two weeks ago.
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- 586 reads
Media Popularity Rater Nielsen Coming to a Vicious HY Market with Bond Offering
Submitted by Tyler Durden on 01/21/2009 15:36 -0400The expectation is that Nielsen Co. (Caa1/CCC+) will be coming to market momentarily to take advantage of "demand" for junk debt. Apparently the issue will be $300 million maturing in 5 years. We say the OID will be 25 points and we also take the under.
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- 945 reads
How to Get Invited To Secret Investing Societies
Submitted by Tyler Durden on 01/21/2009 20:46 -0400
As investment banking is now dead and sell side research is even more useless than it ever was, people are stumped over how and where to get their investing ideas.
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- Read more
- 1265 reads
Ruble Crutches Coming Off Tomorrow
Submitted by Tyler Durden on 01/22/2009 16:27 -0400
After blowing over a hundred billion dollars propping up its currency, Russia's Central Bank has had enough and beginning tomorrow it has set the weak end of the Ruble's trading range against a basket of dollars and euros at 41.
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- Read more
- 538 reads