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Top stories of 2008
With the speed of a supermarket thriller, Wall Street was upended and remade in 2008. First, investment bank Bear Stearns teetered near collapse, then was sold in a shotgun deal to JPMorgan Chase & Co. in a deal that valued each of Bear's shares at $10 --...
Articles 2008-12-28
Rays of sunshine amid the gloom
THIS YEAR has been traumatic for investors. We have lived through a financial crisis of mammoth proportions. The sheer size of the bail-outs and write-offs have been astounding. According to the Bank of England, the total losses worldwide could reach $2.8 trillion (about 1.8 trillion). The current...
Articles 2008-12-20
Fitch Ratings Affirms Bear Stearns 2002-PBW1; Assigns Outlooks
NEW YORK -- Fitch Ratings affirms and assigns Rating Outlooks for Bear Stearns Commercial Mortgage Securities Inc.'s mortgage pass-through certificates, series 2002-PBW1 as follows: --$142.2 million class A-1 at 'AAA'; Outlook Stable; --$385.9 million class A-2 at 'AAA'; Outlook Stable; --Interest-only classes X-1 and...
Articles 2008-12-16
Piper Jaffray Expands Financial Restructuring Team with the Addition of Victor Caruso
NEW YORK -- Piper Jaffray announced Victor Caruso has joined the firm's financial restructuring team as a managing director in the New York office. Caruso brings to Piper Jaffray more than 25 years of experience providing strategic financial restructuring advice to management teams, investor groups and other constituencies...
Articles 2008-12-15
Schaeffer's Option Activity Alert: JPMorgan Chase & Co. Pummeled with Put Volume
CINCINNATI -- JPMorgan Chase & Co. (NYSE: JPM) is weathering the broad-market storm better than its fellow financial components on the Dow Jones Industrial Average. JPM is down just 31.4% year-to-date, compared to losses of more than 60% for American Express AXP and Bank of America BAC. Meanwhile, Citigroup C...
Articles 2008-12-12
Commentary: It's not a fun time to be the governor
Being governor of a populous state is a tough job. A budget deficit of $15 billion could turn any mortal into a basket case. Add the unwanted task of finding a new U.S. senator and how to stop the Senate Democrats from imploding, and you get a very frazzled David...
Articles 2008-12-10
New York State Supreme Court rules Bear Steans directors did not
In Re Bear Stearns Litigation, 600780/08; New York State Supreme Court, New York County; decision from Judge Herman Cahn Did the directors of Bear Stearns violate their fiduciary duty to the stockholders by approving a merger with JPMorgan where various deal protection devices were inserted into the...
Articles 2008-12-10
Residential Finance Corp. Deepens Commitment to Service Excellence; Appoints Mortgage Training Expert Julie Dietz
Training leader from Bear Stearns & Co., Oak Street Mortgage, and Delta Financial to direct sales and operations training initiatives for fast-growing FHA refinance specialist COLUMBUS, Ohio -- Residential Finance Corporation RFC (http://www.residentialfinance.com), a nationwide mortgage lender specializing in refinance, today announced the appointment of Julie Dietz as...
Articles 2008-12-09
Sir Fred is 'World's worst banker' BANKING: GOODWIN
DEPARTED RBS chief executive Sir Fred Goodwin's hopes of a lucrative new career in the US have been dealt a blow after the influential American magazine Newsweek nominated him as the "Worst Banker in the World". In an article that also appeared in the online magazine Slate...
Articles 2008-12-07
On the Move.(OnTheMove)
Byline: Editorial Staff * Belzberg Technologies' Electronic Brokerage Systems hired four investment pros. New sales director Robert Stanley arrives from Trade Station, after nine years as head trader at B-Trade Services. Anthony Stamos joins as a director in sales from Interactive Brokers'...
Articles 2008-12-04
Features: Cover story - Prime brokerage - Changing relationships.(Company overview)
Byline: Henry Smith The dramatic downfall of Bear Stearns and Lehman Brothers and ensuing collapse of the pure investment bank or broker-dealer model in the US has further jolted a global hedge fund industry already reeling from the impact of massive investor capital...
Articles 2008-12-04
2009 Executive Hot Jobs: Strategic Hiring in, Volume Hiring Out
CTPartners' Annual Hot Jobs Report Released Today NEW YORK -- CTPartners, the performance-driven executive search firm, today released its 14th annual list of hot executive jobs. The 2009 report reflects a shift from volume hiring to strategic hiring against the backdrop of stark economic data emerging from the...
Articles 2008-12-01
Cut back or push on? Shopping the real estate revelation: in spite of increasingly threatening financial news, restaurant developers move forward
[ILLUSTRATION OMITTED] Even though the economy can, at times, remain on the sidelines for many consumers and business owners, it has now been brought to the forefront during the past few months with the collapse of investment banking firms Bear Stearns and Co. and Lehman Brothers, as well...
Articles 2008-12-01
B-school blues
WHAT DO YOU DO WHEN YOUR INSTITUTION'S MISSION IS TO PREPARE THE business leaders of tomorrow--and then the bottom fails out of the market? With Bear Stearns, Lehman Brothers, and Merrill Lynch gone, and other firms reducing staff, the employment picture isn't particularly encouraging for business school graduates....
Articles 2008-12-01
How politically driven has the economy become?
WASHINGTON - In the old days - from the Venetian Republic to, oh, the Bear Stearns rescue - if you wanted to get rich, you did it the Warren Buffett way: You learned to read balance sheets. Today you learn to read political tea leaves. You don't anticipate Intel's third-quarter...
Articles 2008-11-30
Commentary: We're waiting for real change
Decisions, decisions. Whether you are a Washington politician or a New York legislator, the moment of truth has arrived. There is no way to avoid the necessity of cleaning up the national recession or the state's disastrous financial condition. The big question is when?...
Articles 2008-11-25
Independents' Day On Wall Street
This year's collapse of several major financial institutions--A.I.G., Bear Stearns, Fannie Mae, Freddie Mac, Lehman Brothers, Merrill Lynch, Wachovia, and Washington Mutual--has earned September 2008 comparisons to October 1929. "Last month's U.S. government bailout seems to be just the beginning of a major paradigm shift on Wall Street,...
Articles 2008-11-24
Repatriation flows boost the dollar, but will it last?
The dollar has staged an astonishing recovery over recent months. From its nadir in mid-July, the trade-weighted dollar index has appreciated some 16%, with a 10% appreciation since midSeptember. The dollar has now regained all the ground lost during 2007 and 2008. Against the euro, the dollar has returned to...
Articles 2008-11-24
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