CBL

CBL

Feds Probing Potential Insider Trading By Senator Bob Corker

A real-estate firm that has been a favored investment of Sen. Bob Corker, R-Tenn. is under investigation by federal law-enforcement officials for alleged accounting fraud. The FBI and the SEC are focusing their examination of CBL & Associates Properties on whether officials at the Chattanooga, Tenn., company falsified information on financial statements to banks when applying for financing arrangements. The FBI and SEC are also inquiring into the trades of Bob Corker who has made millions of dollars in profits trading the company’s stock in recent years

Frontrunning: January 22

  • ECB to decide on bond-buying plan to revive euro zone (Reuters)
  • Draghi Is Pushing Boundaries of Euro Region with QE Program (BBG)
  • Investors Wonder Whether ECB Will Do Enough (WSJ)
  • Treasuries Drop With Bunds Before ECB; U.S. Futures Rise (BBG)
  • European shares hit seven-year high (Reuters)
  • At least eight civilians killed in shelling of Ukrainian trolleybus (Reuters), both sides blame each other
  • OPEC Will Blink First in Battle With Shale Drillers, Poll Shows (BBG)
  • China Injects $8 Billion Into Banking System (WSJ)
  • New York says Barclays not cooperating in 'dark pool' probe (Reuters)

Frontrunning: January 22

  • Winter Storm Expected to Make Northeast Commutes Harder  (BBG)
  •  Invasion of Spanish Builders Angers France Struggling to Compete  (BBG)
  • Toronto mayor, caught ranting on video, admits drinking a 'little bit" (Reuters)
  • IBM's Hardware Woes Accelerate in Fourth Quarter (WSJ)
  • Sharp Divisions Come to Fore as Peace Talks on Syria Begin (NYT)
  • Afghanistan cracks down on advertising in favor of U.S. troops (Reuters)
  • Microsoft CEO Search Rattles Boards From Ford to Ericsson (BBG)
  • Banks Sit Out Riskier Deals (WSJ)
  • Netflix Seen Reporting U.S. Web Users Reach 33.1 Million (BBG)

Frontrunning: December 17

  • Fed’s $4 Trillion Assets Draw Lawmaker Ire Amid Bubble Concern (BBG)
  • Ex-Goldmanite Fab Tourre fined more than $1 million (WSJ)
  • EU Banks Shrink Assets by $1.1 Trillion as Capital Ratios Rise (BBG)
  • Japan to bolster military, boost Asia ties to counter China (Reuters)
  • China condemns Abe for criticizing air defense zone (Reuters)
  • Insider-Trading Case May Hinge on Phone Call (WSJ)
  • Republicans Gird for Debt-Ceiling Fight (WSJ)
  • Mario Draghi pushes bank union deal (FT)
  • German Coalition Plans More Pension Money (WSJ)
  • Oil Supply Surge Brings Calls to Ease U.S. Export Ban (BBG)

Frontrunning: May 6

  • Lesson From Buffett: Doubt Yourself (WSJ)
  • Gold Bulls Split With Buffett as Traders Say Sell (BBG)
  • Apple Misses IPhone Customers as Global Carriers Balk (BBG)
  • Russia extends Cypriot loan by 2 years, cuts interest: troika document (Reuters)
  • Tax Rewrite in Play in Capitol (WSJ)
  • No early warning for U.S. on Israeli strikes in Syria (Reuters)
  • Germany riveted at start of neo-Nazi murder trial (Reuters)
  • JPMorgan Investors Urged to Split Chairman Role, Oust Directors (BBG)
  • Leniency for Offshore Cheats (WSJ)
  • Brussels steps up efforts over tax avoidance (FT)
  • Ambulance chasing: Mesothelioma Doctors, Lawyers Join Hunt for Valuable Asbestos Cases (WSJ)
  • Web Sales-Tax Bill Set to Face Bumps (WSJ)
  • Colleges Cut Prices by Providing More Financial Aid (WSJ)

Frontrunning: February 8

  • Rate-Rig Spotlight Falls on 'Rain Man' (WSJ)
  • Blizzard Cancels U.S. Flights, Threatens Snow in New York (BBG)
  • Monti says he did not know of bank probes (FT)
  • Japan's Aso: yen has weakened more than intended (Reuters)
  • Japan Pledges Foreign-Policy Response to Territorial Incursions (BBG)
  • Paratroops mutiny in Bamako in blow to Mali security efforts (Reuters)
  • China, Japan engage in new invective over disputed isles (Reuters)
  • Asteroid to Traverse Earth’s Satellite Zone, NASA Says (BBG)
  • EU leaders haggle over budget tightening (FT)
  • China Trade Tops Forecasts in Holiday-Distorted Month (Bloomberg)
  • Buffett’s Son Says He’s Prepared Whole Life for Berkshire Role (BBG)

Frontrunning: December 11

  • Fed Seen Pumping Up Assets to $4 Trillion in New Buying (BBG)
  • China New Loans Trail Forecasts in Sign of Slower Growth (BBG)
  • U.S. "fiscal cliff" talks picking up pace (Reuters)
  • Insider-Trading Probe Widens (WSJ)
  • U.K.'s Top Banker Sees Currency Risk (Hilsenrath)
  • Three Arrested in Libor Probe (WSJ)
  • Nine hurt as gunmen fire at Cairo protesters (Reuters)
  • Egyptian President Gives Army Police Powers Ahead of Vote (BBG)
  • Pax Americana ‘winding down’, says US report (FT)
  • Japan Polls Show LDP, Ally Set for Big Majority (DJ)
  • HSBC to pay record $1.9 billion U.S. fine in money laundering case (Reuters)

Frontrunning: December 6

  • MSM discovers window dressing: Fund Managers Lift Results With Timely Trading Sprees (WSJ)
  • White House Unyielding on Debt Limit (WSJ)
  • Obama, Boehner talk; Geithner prepared to go off "cliff" (Reuters)
  • Republicans urged to resist tax rises (FT)
  • China looms large over Japanese poll (FT)
  • As predicted here two months ago, Greek Bond Buyback Leads S&P to Cut to Selective Default (BBG)
  • Japan opposition LDP set to win solid election majority – polls (BBG), but...
  • Japan Opposition LDP’s Main Ally Cautions Abe on BOJ Pressure (BBG)
  • U.S. and Europe Tackle Russia Trade (WSJ)
  • King Seen Maintaining QE as Osborne Extends Fiscal Squeeze (BBG)
  • Syria pound fall suggests currency crisis (FT)
  • Irish budget seeks extra €3.5bn (FT)
  • U.K. Extends Cuts Due to Poor Outlook (WSJ)
  • ECB Seen Refraining From Rate Cuts as Yields Sink on Bond Plan (BBG)

Frontrunning: October 24

  • China May Forgo Easing as Economy Rebounds, Survey Shows (Bloomberg)... or as food and house inflation has never gone away
  • China Edges Out U.S. as Top Foreign-Investment Draw Amid World Decline (WSJ)
  • Fed to keep buying bonds despite firmer U.S. growth (Reuters)
  • Bernanke Seen Attacking Jobless Rate With QE Until His Term Ends (Bloomberg)
  • Mortgage applications plunge 12%, down for third week in a row (Dow Jones)
  • Exchanges Retreat on Trading Tools - Fund Managers, Regulators Say Certain Orders Are Risky, Aid High-Speed Firms (WSJ)
  • Europe Bank Chief to Defend Bond-Buying Plan (WSJ)
  • Japan, China Envoys Met Last Week for Talks on Island Feud (Bloomberg)
  • Goldman’s Pill Says ‘Guerrilla’ ECB to Impose Losses on Skeptics (BBG)
  • Chance rise of an Obama defeat (FT)
  • King Says BOE Is Ready to Add to QE If U.K. Recovery Fades (Bloomberg)
  • Rajoy Sees Case for Slowing Spain’s Austerity as Economy Shrinks (BusinessWeek)
  • Hong Kong Intervenes to Defend Peg as Upper Limit Tested (Bloomberg)

Daily Highlights: 11.16.2010

  • Asian stocks drop on signs regional governments acting to combat inflation.
  • China October FDI up 7.86% at $7.663B vs. September's $8.4B.
  • China's stocks decline to one-month low on inflation, property concerns.
  • Crude oil falls for a third day on signs fuel demand recovery may falter.
  • South Korea raises interest rate by 25 bps - for second time in 2010.
  • US retail sales rose 1.2% to $373.1B in October, compared with September.
  • Aeropostale announces $300M increase to its existing share repurchase program.

David Faber On Goldman CRE Write Downs And REIT Pain

David Faber discusses Goldman's real estate losses, and draws some conclusions about the upcoming pain for REITs. And yet, thanks to Goldman, which has been instrumental in upgrading and issuing stock for the REITs (and having a massive blow out quarter thanks in large part to its REIT underwriting activity), the sector is doing unprecedentedly well. Surely one has to wonder just what must happen at this point for people to realize what a ticking time bomb Commercial REITs are?

Merrill's New REIT Teams Marks REIT Territory

The brand spanking new team (and legacy boy Craig Schmidt) that Merrill recently acquired from some other bank (I wrote about this, but frankly don't remember where these clowns came from nor do I care), just went to town all over the REIT bathroom and marked their territory effusively. ML in fact distributed a 45 page reinitiation report, which I have no intention of ever reading.