sam gustin submits its no secret that former aol chief executive jonathan miller wants a crack at running yahoo yhoo the beleaguered web giant. he was set to join the companys board a few months ago as part of carl icahns slate before time warner twx nixed the idea citing a noncompete clause in millers contract. miller is so confident that ...... [Show More]
ryan chittum picks up on a dog not barking in todays wsj story about goldman earnings
the paper reported that goldman sachss loss this quarter would be much worse than expected news it attributed to industry insiders.
thats funny attribution but okay. but scan the rest of the story and youll find that it appears nobody from goldman was ever g...... [Show More]
secrets and lies why analyst forecasts are useless.
motion sickness quantified the sp 500 moved more than 5 27 times between 1950 and 2000. and 22 times between october 1 and now.
expenditure vs investment thinking clearly why bailout money is real expenditure not just an investment.
more gawker layoffs even as ad revenues climb 39 related links a...... [Show More]
free exchange responds to my declaration that financesector salaries should be slashed
the problem however is with selfselection. the most talented people in finance would be the ones to go. even in the worst labour market talent is in demand. workers may go abroad where finance jobs still pay well or into another industry. the finance industry will be left with a lessskilled labou...... [Show More]
the incredible difficulties of promotional work in russia have led in recent years to a growing discrepancy between pla yers8221 and out siders.8 221a pr kingpins operate almost exclusively from moscow as do the most significant media outlets.
more above ruslan and liudmila
regional clout in the world of ar is minimal unless of course you ...... [Show More]
by now you have doubtless heard the media pundits rail against the alleged exorbitant wages of unionized autoworkers. nothing like creating a straw man out of workers to push through an antiunion agenda and deny automakers financial aid that could make or break the industry.
after all one out of 10 american jobs depends on the auto industry. according to a study by the center for automo...... [Show More]
matt apuzzos excellent article on how the goverment failed to reign back subprime mortgage lenders paints a picture of deregulation run amok
the administra tionrsquo s blind eye to the impending crisis is emblematic of its governing philosophy which trusted market forces and discounted the value of government intervention in the economy. its belief ironically has ushered in the most...... [Show More]
so michael wolff s longawaited bio of rupert murdoch the man who owns the news hit shelves yesterday. portfolio has a roundup reactions the times did not love. over at businessweek jon fine says that wolffs murdoch mumbles dissembles has cultural sensibilities predating elvis presley if not rudy vallee. fine separately posted s...... [Show More]
felix salmon submits justin fox rightly i think reckons that the repeal of glasssteagal was on net a good thing not a bad thing for the us banking system if only because it has allowed big commercial banks like bank of america bac and jp morgan jpm to buy failing investment banks like merrill lynch mer and bear stearns. but what of citigroup c...... [Show More]
mistakes were made. Post Source: www.prospect.org Posted: Dec 02 2008 19:39:31
ive spent part of the day reading about super senior tranches and synthetic bonds and all the rest and on some level i think were making this too complicated. the other day robert rubin was asked if hes made mistakes. i honestly dont know he said. in hindsight there are a lot of things wed do differently. but in the context of the fac...... [Show More]
greenbergs chutzpah Post Source: seekingalpha.com Posted: Dec 02 2008 18:56:32
felix salmon submits hank greenberg didnt like aig bailout i not aig bailout ii. so hes pushing for aig bailout iii which will be even nicer to aigs shareholders such as hank greenberg. more needs to be done to save aig. a new plan needs to be drawn up to allow private capital to replace the governments capital. and the company itself cannot be so burdened wi...... [Show More]
wsj.com deal journal wsj.com
give detroits big three credit they at least learned from one past mistake.
ford motor ceo alan mulally and general motors ceo rick wagoner avoided the airport and hit the road for their trek to the capitol tuesday. to complete the symbolism shouldnt they have gotten caught in beltway traffic.
and what about chrysler ceo rob...... [Show More]
she did it yet again britney spears was the most popular search term on yahoo for the fourth year in a row her seventh time topping the list. forget about current economic worries britney spears economy is worth 110 million to 120 million. here is yahoo top 10 searches for 2008
1. britney spears enter tainment 41
2. wwe sports entertainment
3. barack ob...... [Show More]
when looking at big threemonth losses for the dow there is no statistical support for the belief that such losses will be followed by yet another month of declines .a marketwatch.com
so what will the us stock market be worth if sp 500 earnings go to zero for three yearsa clusterstock
could it be this simple long term trend f...... [Show More]
felix salmon submits the reserve bank of zimbabwe reports between the 10th and the 20th of november 2008 total fraudulent cheques we intercepted in the clearing system had risen to 60 hexillion 600 00000000 0000000 0000041 . complete story ...... [Show More]
sam jones nails it . if you have any more appetite for these things go check his blog entry out its great stuff. youll even learn all about those canadian leveraged supersenior conduits related links how lahde capital makes money best idea of 2007 shorting mortgages sam jones explains the liquidity put...... [Show More]
the analysts are in full damage control mode.aa after a year of doom and gloom that was to be punctuated by one of the worst holiday seasons everaonline sales stats are now trickling in and it appears that paypal reported a 26 increase in online sales over last years black friday.a it seems the analysts were wrong.a now the analysts 8217aare hedging by sayingathat the hea...... [Show More]
felix salmon submits ive written myself into a corner now and cant think of any way to get out of writing the promised blog entry on supersenior tranches. especially when kevin drum asks so nicely. so here it is. deep breath... by now you understand how a synthetic bond can behave very much like a real bond. so consider the situation of a bank which has made a bunch of...... [Show More]
felix salmon submits superseniors are not easy things to understand as youll know if you managed to trudge through my attempted explanation. i got some good questions in the comments heres my attempt at the answers. eli and fresnodan both bring up the issue of counterparty risk after the bank has bought insurance on its cdos how does it know that its counterparty will ha...... [Show More]
felix salmon submits andrew ross sorkin is worried about what happens if you dont pay bankers enough money the trick of course is to dole out enough rewards to keep executives working and working hard but not to dole out too much... citigroup and other firms need to find ways to keep and attract talented people who can make smart decisions without lavishing pay on them or rewa...... [Show More]
the century foundation if tribune goes down sam zell will still be very rich but hell have presided over the evisceration of some of our best newspapers says peter osnos. in his session with portfolio editor joanne lipman zell singled out the new york times if you want to ......... [Show More]
nobodys debating plaxico burress is guilty of being an idiot. when he shot himself in the thigh friday night he likely ruined his career lost out on over 27 million and all indications are that he will do jail time .
but what about the hell is with nyc mayor mike bloomberg though hes done a fine job running manhattan for the last few years whyd he trash burress ye...... [Show More]
this is an absolutely fascinating story about what went wrong with wall street. its a case of greed and stupidity.
from the article
the era that defined wall street is finally officially over. michael lewis who chronicled its excess in liars poker returns to his old haunt to figure out what went wrong.
then came meredith whitney with news. whitney was an obscure analy...... [Show More]
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