tag:blogger.com,1999:blog-40407372243652948542008-07-18T10:20:26.184-07:00Adminhttp://www.blogger.com/profile/12287881382462338718noreply@blogger.comBlogger208125tag:blogger.com,1999:blog-4040737224365294854.post-34342875106887800542008-07-18T09:43:00.000-07:002008-07-18T10:20:26.198-07:00

Say what you will about Jerry Yang's management capabilities, the guy is a sheer visionary, when it comes to the internet. Yahoo! Inc. just upped the proxy fight with Ichan/Microsoft by putting an ad on the Yahoo home page (see image or visit http://www.yahoo.com/) And in an internal video to Yahoo! employees, posted on Yahoo's intranet site, Yang said that "Today, I’m excited to tell you that

Adminhttp://www.blogger.com/profile/12287881382462338718noreply@blogger.comtag:blogger.com,1999:blog-4040737224365294854.post-11424875165722303502008-07-16T10:13:00.000-07:002008-07-17T10:21:55.441-07:00

The Senate Permanent Subcommittee on Investigations (PSI), chaired by Senator Carl Levin (D-MI), after a 6 month probe, has released a report which says that Swiss banking giant UBS AG and Lichtenstein based LGT Bank have aided and abetted wealthy Americans evade taxes, cover up ownership of accounts and hide assets. Background on the LGT investigation and updates on the UBS tax evasion here,

Adminhttp://www.blogger.com/profile/12287881382462338718noreply@blogger.comtag:blogger.com,1999:blog-4040737224365294854.post-72703522860293538432008-07-15T09:24:00.000-07:002008-07-15T11:23:38.656-07:00

I wasn't planning to write anything about Microhoo until there were any 'new' developments, but if the U.S. Senate Judiciary Committee is getting in on the act, I figure its time to update. The Senate Judiciary Committee's Subcommittee on Antitrust, Competition Policy and Consumer Rights is holding an anti-trust hearing on the Google-Yahoo search advertising agreement, and in attendance are

Adminhttp://www.blogger.com/profile/12287881382462338718noreply@blogger.comtag:blogger.com,1999:blog-4040737224365294854.post-67981729679872506452008-07-14T10:06:00.000-07:002008-07-14T10:56:09.204-07:00

In response to 'market rumors' National City has put out a press release intended to tamp down the rumors and reassure investors. "National City is experiencing no unusual depositor or creditor activity. As of the close of Friday's business, the bank maintained more than $12 billion of excess short-term liquidity. Further, as a result of our recent $7 billion capital raise, National City

Adminhttp://www.blogger.com/profile/12287881382462338718noreply@blogger.comtag:blogger.com,1999:blog-4040737224365294854.post-82003694103771673312008-07-12T20:41:00.000-07:002008-07-12T21:04:38.438-07:00

Yahoo! Inc. confirmed that it has rejected, again, a joint proposal from Microsoft Corporation and Carl Icahn for a complex restructuring of Yahoo! that would include the acquisition of Yahoo!'s search business by Microsoft. The proposal was made on Friday evening and Yahoo! was given less than 24 hours to accept the non-negotiable proposal. Yahoo! also offered to sell the entire company to

Adminhttp://www.blogger.com/profile/12287881382462338718noreply@blogger.comtag:blogger.com,1999:blog-4040737224365294854.post-66264381189454292922008-07-12T08:08:00.000-07:002008-07-12T08:57:10.071-07:00

On July 11, 2008, IndyMac Bank, F.S.B., Pasadena, CA was closed by the Office of Thrift Supervision (OTS) and the Federal Deposit Insurance Corporation (FDIC) was named Conservator. All non-brokered insured deposit accounts have been transferred to IndyMac Federal Bank, F.S.B., Pasadena, CA ("assuming institution") a new FDIC-insured Federal Mutual Savings Bank. - FDIC Closing information for

Adminhttp://www.blogger.com/profile/12287881382462338718noreply@blogger.comtag:blogger.com,1999:blog-4040737224365294854.post-24541695291087670622008-07-11T10:00:00.000-07:002008-07-11T12:09:28.739-07:00

Wall Street rumor is a vicious creature. And its been swirling around Lehman Brothers (NYSE: LEH) ever since the fall of Bear Stearns. There's got to be one prime candidate headed for a fall, and Lehman has been nominated to be the star of the show, cast as the next sacrificial lamb. The latest rumor was that the world's largest bond fund PIMCO, the hedge fund giant SAC and other institutions

Adminhttp://www.blogger.com/profile/12287881382462338718noreply@blogger.comtag:blogger.com,1999:blog-4040737224365294854.post-46979974082865992862008-07-10T09:17:00.000-07:002008-07-10T10:22:35.470-07:00

At a Full Committee Hearing (Systemic Risk and the Financial Markets) of the House Committee on Financial Services, Treasury Secretary Henry Paulson and Federal Reserve Board Chairman Ben Bernanke urged Congress to consolidate more power with a single regulator for the oversight of investment banks. This is the first hearing on this subject, and Congress has plans to continue the series of

Adminhttp://www.blogger.com/profile/12287881382462338718noreply@blogger.comtag:blogger.com,1999:blog-4040737224365294854.post-69914489628840638242008-07-08T11:00:00.000-07:002008-07-08T20:41:14.804-07:00

For Michael W. Perry, Chairman and CEO of IndyMac BankCorp Inc. (NYSE: IMB), the hits just keep rolling in. The latest news is that Paul Miller, a Friedman, Billings, Ramsey & Co analyst, cut his price target for IndyMac to zero per share from $1.00. Zero? He could at least have kept it 10 cents or so... Anyway, that solves at least one problem. IndyMac shareholders don't have to worry about how

Adminhttp://www.blogger.com/profile/12287881382462338718noreply@blogger.comtag:blogger.com,1999:blog-4040737224365294854.post-2428752278916180462008-07-07T08:18:00.000-07:002008-07-07T11:19:56.364-07:00

Carl Icahn has issued a letter to Yahoo shareholders detailing the summary of his talks with Microsoft CEO Steven Ballmer. Here's an excerpt from the letter. During the past week I have spoken frequently with Steve Ballmer, CEO of Microsoft. Several of our conversations have lasted as long as an hour. Also, a few of our discussions have taken place while other top executives, such as Kevin

Adminhttp://www.blogger.com/profile/12287881382462338718noreply@blogger.comtag:blogger.com,1999:blog-4040737224365294854.post-85348059662257113752008-07-06T23:24:00.001-07:002008-07-07T00:34:52.423-07:00

The Swiss Federal Banking Commission (SFBC) wants UBS and Credit Suisse to raise an additional $68.3 billion in capital (70 billion Swiss francs - 40 for UBS, and 30 for Credit Suisse) to avoid problems due to the banks' subprime exposure, expected write-downs and losses. AFP reports a quote from a Swiss parliamentarian Hans Kaufmann in the Swiss newspaper Sontagg to this effect, and a

Adminhttp://www.blogger.com/profile/12287881382462338718noreply@blogger.comtag:blogger.com,1999:blog-4040737224365294854.post-60729011213991555972008-07-03T19:12:00.000-07:002008-07-03T20:14:01.785-07:00

In late June, the Federal Reserve completed its financing of the Bear Stearns bailout arrangement, contributing $28.8 billion to the newly created Maiden Lane LLC, a Delaware limited liability company. JP Morgan, for its part, put up $1.15 billion. The Bear Stearns assets being financed were valued at about $30 billion in March, consisting mainly of mortgage backed securities and related assets.

Adminhttp://www.blogger.com/profile/12287881382462338718noreply@blogger.comtag:blogger.com,1999:blog-4040737224365294854.post-10940666967633633622008-07-01T23:53:00.000-07:002008-07-02T21:30:01.238-07:00

The Wall Street Journal reports that Microsoft is talking to Time Warner Inc. and News Corp., among others, about joining it in a deal that would effectively lead to Yahoo's breakup. It seems that a couple of weeks ago, Ballmer called Yahoo! Chairman Roy Bostock and suggested they meet to discuss a new proposal involving other 'partners'. The meeting, scheduled for Monday, was then scrapped

Adminhttp://www.blogger.com/profile/12287881382462338718noreply@blogger.comtag:blogger.com,1999:blog-4040737224365294854.post-43566253430658698752008-06-30T20:28:00.000-07:002008-07-02T21:13:24.427-07:00

According to court papers filed with the United States District Court for the Southern District of Florida in Miami by U.S. Attorney R. Alexander Acosta, the Department of Justice is asking the Court to allow the IRS to issue a summons to UBS AG demanding the names of wealthy U.S. clients who used the Swiss bank to keep 'undeclared accounts' in order to evade U.S. taxes. Background information on

Adminhttp://www.blogger.com/profile/12287881382462338718noreply@blogger.comtag:blogger.com,1999:blog-4040737224365294854.post-75278400298692636452008-06-28T09:26:00.000-07:002008-06-28T21:00:23.450-07:00

Having written Countrywide obituaries, Wall Street now moves enmasse from Calabasas to Pasadena, CA, towards its next victim in-waiting - IndyMac Bancorp. Inc (NYSE: IMB). As Indymac's share price crossed into sub-dollar area (81 cents as of now), warnings are starting to emit out of Wall Street and Washington. The same format applies - Mortgage security values and share prices plummeting,

Adminhttp://www.blogger.com/profile/12287881382462338718noreply@blogger.comtag:blogger.com,1999:blog-4040737224365294854.post-35000703291960476952008-06-27T21:31:00.000-07:002008-06-27T21:53:30.927-07:00

Senators Chris Dodd (D-CT) and Richard Shelby (R-AL), Chairman and Ranking Member respectively of the Senate Banking Committee, sent a letter to the Fed, SEC and the Treasury cautioning them against rushing into inter-agency 'Memorandum of Understanding' to reform regulation of financial institutions on Wall Street. In the letter, Dodd and Shelby recognize the agencies’ efforts to improve and

Adminhttp://www.blogger.com/profile/12287881382462338718noreply@blogger.comtag:blogger.com,1999:blog-4040737224365294854.post-24142265398930378622008-06-26T19:42:00.000-07:002008-06-26T20:16:07.541-07:00

Yahoo! Inc.'s 'realignment' to support core strategies by centralizing audience product development and forming a new U.S. region with three new groups reporting to President Sue Decker can be looked at from several viewpoints. But before we get into the why, let's clear out exactly what these changes mean for Yahoo! as an organization, and its employees and customers. The company is creating

Adminhttp://www.blogger.com/profile/12287881382462338718noreply@blogger.comtag:blogger.com,1999:blog-4040737224365294854.post-22914924001711146122008-06-25T10:21:00.000-07:002008-06-25T11:05:09.106-07:00

If ever there was a corporate version of the Titanic going down, this would it. Even as shareholders of Countrywide Corp. gathered in Calabasas to approve the sale of the company to Bank of America, the Attorney Generals of California and Illinois filed lawsuits suing Countrywide and CEO Angelo Mozilo (background) for unfair and deceptive conduct. Here's the copy of the California suit from the

Adminhttp://www.blogger.com/profile/12287881382462338718noreply@blogger.comtag:blogger.com,1999:blog-4040737224365294854.post-10500707355500528362008-06-24T18:46:00.000-07:002008-06-24T19:38:53.402-07:00

Who says corporate rivalry is a bad thing? Bloomberg report by John Hughes (June 24 2008) details how the 'competitive fighting spirit' between FedEx and main rival UPS has lead to an Ohio state investigation into FedEx's classification of its 15,000 truck drivers as independent contractors. The company has also faced a class-action lawsuit covering drivers in 20 states and been investigated in

Adminhttp://www.blogger.com/profile/12287881382462338718noreply@blogger.comtag:blogger.com,1999:blog-4040737224365294854.post-55410530642721964162008-06-23T09:46:00.000-07:002008-06-23T10:06:07.929-07:00

The Harris Interactive Reputation Quotient(TM) (RQ) survey has come out with its list of 60 most visible companies in the U.S., ranked on the basis of reputation. Mountain View, CA based Google Inc. (NASDAQ: GOOG) tops the list, followed by Johnson & Johnson, Intel Corporation, General Mills, Kraft Foods, Berkshire-Hathaway Inc., 3M Company, The Coca-Cola Company, Honda Motor Co., and Microsoft.

Adminhttp://www.blogger.com/profile/12287881382462338718noreply@blogger.comtag:blogger.com,1999:blog-4040737224365294854.post-69553005080730976292008-06-22T20:09:00.000-07:002008-06-22T20:53:56.297-07:00

Motorola Inc. (NYSE: MOT) has big problems - Systemic problems - and they're not going away. If anything, they're going to get worse before a turnaround, if at all, and Wall Street seems to be out front and center trying to flog this dying horse by pricing its shares to a new five year low. The latest pressure on Motorola shares was triggered by bearish comments about Motorola from Samuel Chin,

Adminhttp://www.blogger.com/profile/12287881382462338718noreply@blogger.comtag:blogger.com,1999:blog-4040737224365294854.post-43865958833819370252008-06-20T19:46:00.000-07:002008-06-20T20:35:18.588-07:00

Swiss banking giant UBS AG is said to have agreed to disclose to U.S. federal prosecutors some of the names out of its 20,000 American clients - Those who may have broken U.S. tax regulations by using off-shore shell companies as fronts to hoard assets in overseas accounts without disclosure. This apparent cave-in by UBS will no doubt not only affect its existing clientele and business in the

Adminhttp://www.blogger.com/profile/12287881382462338718noreply@blogger.comtag:blogger.com,1999:blog-4040737224365294854.post-9134451217279740372008-06-19T19:28:00.000-07:002008-06-19T19:56:17.267-07:00

Like we said here, Yahoo's employees are jumping ship, but reports coming in now indicate that its not just a 'natural flow', but has been triggered and is being actively encouraged by certain actions on the part of both Yahoo & Microsoft, and I'm not talking about the ill-fated buyout. The Wall Street Journal reports that Yahoo is planning a reorganization of its various product groups which

Adminhttp://www.blogger.com/profile/12287881382462338718noreply@blogger.comtag:blogger.com,1999:blog-4040737224365294854.post-30436256863148126442008-06-19T07:31:00.000-07:002008-06-19T20:07:07.550-07:00

Two former hedge fund managers of Bear Stearns, Ralph Cioffi and Matthew Tannin, were arrested at their respective homes in New York, after a one year probe into the collapse of two hedge funds they were in charge of, according to the FBI. Cioffi was arrested at his home in Tenafly, New Jersey, and Tannin was picked up from his Manhattan residence. Both are expected to be indicted on securities

Adminhttp://www.blogger.com/profile/12287881382462338718noreply@blogger.comtag:blogger.com,1999:blog-4040737224365294854.post-54800333219346560662008-06-18T08:08:00.000-07:002008-06-18T08:37:46.512-07:00

This is one meanass bad penny which refuses to dissappear. You may have heard of him - Henry Ross Perot, Texan with big ears? Consumer advocate and Presidential sleeper candidate? 76th richest man in America worth $4.4 billion? No? Well, maybe you may have heard about Ross Perot the chart guy. Because that's his latest evil scheme to chart his way back into the limelight. He's come up with a

Adminhttp://www.blogger.com/profile/12287881382462338718noreply@blogger.com