So the rich are hurting - cry me a river. Thats the tone of many recent articles about the luxury bust and the declining fortunes of the fortunate. The derision is understandable: Who can be sympathetic to Richistanis cutting back on their private-jet flights or selling off their oversized mega-mansions [...]
U.S. automakers are in the midst of releasing another round of terrible monthly sales reports, and General Motors just reported a $15 billion loss. Those waiting for auto sales to recover may find it similar to waiting for the housing recovery - it's a task tailored for the very patient. [...]
CEO Jerry Yang looks pleased in this company photo (Yahoo.com) After weeks of watching the likes of Carl Icahn, T. Boone Pickens and others treat Yahoo like a punching bag, executives at the Internet giant hit back Friday, with chairman of the board Roy Bostock noting that the company still [...]
Rob Curran of Dow Jones Newswires has this report one hedge fund manager's guide to protecting profits. Hedge fund manager Jeffrey Pavlik will take the ant over the grasshopper every time. Mr. Pavlik says the best way to survive shocks like the credit-crunch-inspired bear market is to sock away portfolio [...]
Sooner or later, every company in a hyper-growth industry becomes part of the rest of the economy, with cycles like any other. Satellite television has been around for a while, and has had ups and downs, but Dish Network Co.'s first-ever decline in subscribership in its most recent quarter illustrates [...]
Wachovia's CEO indicated that the recent shakeup in the bank's executive suite is over. There had been speculation that more executives could be forced out of the bank after it announced the departure of its CFO and chief risk officer.[...]
Bill Stone, chief investment strategist at PNC Wealth Management, tells Andrew O'Day the market has been soothed by less-than-the-worst economic reports such as today's July employment reading. But the trend is still down.[...]
China Development Bank, which funds the nation's public works, is interested in buying Allianz’s Dresdner Bank unit to gain a foothold in the European market, reports Bloomberg. The Beijing-based lender has conducted due diligence on Dresdner, say people familiar with the matter. CDB has acquired 3.1% of UK lender Barclays [...]
Fortis, the stricken Belgo-Dutch bank, may have to write off some of the value of its €24bn (£19bn) acquisition of part of rival ABN Amro.[...]
The Times |
August 5th, 2008 |
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A billion here, a billion there and pretty soon you're talking real money. HSBC has now notched up $21 billion in bad debts and structured credit losses in the past 18 months, yet has managed to paint itself as one of the more responsible and prudent of banks. It is [...]
NYT Dealbook |
August 5th, 2008 |
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After a strong performance last week, Wachovia shares appeared to fall back to earth on Monday, having dropped as much as 10.3 percent. That's a sobering change from last week, when Wachovia shares gained 31 percent. But according to Robert Patten, an analyst at Morgan Keegan whom press reports named [...]
NYT Dealbook |
August 5th, 2008 |
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Barclays Capital, the investment arm of the British bank Barclays, said Monday it hired an energy banking team in Houston, adding to a string of recruiting moves in the United States. The firm said that Joseph C. Gatto Jr., formerly a managing director at Merrill Lynch; and Russell A. Johnson, [...]
There are many things to admire about the United States, but one of them certainly is the swiftness with which certain questionable commercial activities find themselves under the regulatory microscope. And, in full view of the public. In part, this is due to the legions of public office holders and [...]
CA-Los Angeles, PNC Aviation Finance: PNC Aviation Finance, is one of the industry's leading providers of asset-based corporate aircraft finance. Our suite of flexible financing solutions which includes credit loans u[...]
PA-Pittsburgh, Manager of External Communications - PNC Financial Services, Inc The primary objective of this position is to help build a positive external image and reputation for PNC through effective communicatio[...]
PA-Philadelphia, The PNC Financial Services Group, Inc. (NYSE: PNC) is a Fortune 500, award-winning financial services company. Since it's founding over 150 years ago, PNC has grown into one of the nation's largest fi[...]
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