Thinking About Ollie, Wolf, Roger, Empty Seats In The Bronx and the New Name For Mets Stadium
Derek Lowe got his money and his fourth year. I guess it's hard to give a 35 year old a fourth year, thing stend not to work out (cough, Pedro) ... ," said William Smith at Smith Asset Management, who owns Citigroup shares. He has been calling ... . .. Morgan Stanley Stadium in 2010? Is there a single person out there who thinks the present Name [more...]
Date: 2009-01-14 02:59:44
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Citibank to sell is brokerage business
Jump to CommentsCitigroup Inc.’s brokerage business is reportedly for sale as the giant bank tries to recover from a near-collapse that’s left it on government life support. Citi is in talks to sell its Smith Barney brokerage unit and its asset-management business, according to The Wall Street Journal. One option being seriously considered [more...]
Date: 2009-01-10 15:24:19
GREEN RELIGION
"The earth is the LORD's and all it contains"-Psalm 24:1I've poked some fun at how for some people, environmentalism is essentially a religion; ... was founded in 2004 by Mr Gore and David Blood, former head of Goldman Sachs Asset Management ... Church Estates Commissioner, Andreas Whittam Smith reported that in late September the Commissioners [more...]
Date: 2008-12-31 16:33:00
Bob Rubin Leaves Citi
Presented without comment from Bloomberg News. (no comment because I'm still laughing uncontrollably at Pandit's comments!). Jan. 9 (Bloomberg) ... Smith Asset Management’s William Smithfor collecting more than $150 million in pay in a decade while [more...]
Date: 2009-01-09 20:46:02
AIG to pare itself down
NEW YORK (CNNMoney.com) — The beleaguered insurance giant AIG announced plans Friday to hold on to its property and casualty insurance businesses, ... its aircraft leasing unit, asset management division, retirement services and U.S. life insurance ... and nimble after the asset sales. –From CNNMoney.com’s Tami Luhby and Aaron Smith [more...]
Date: 2008-10-03 19:41:53
Evil Short Sellers Part III Gordon Brown's Millions from Hedge Fund Shorters
Paul Myners is a director of the hedge fund manager GLG, which with $25 billion under management is one of europe's biggest hedge fund managers ... , Marble Bar Asset Management (Cayman), contributed to Hilary Benn's deputy leadership campaign ... campaign and he also gave money to Gordon Brown's think-tank the Smith Institute. Gordon rewarded [more...]
Date: 2008-09-29 17:11:00
AIG to sell some units
NEW YORK (CNNMoney.com) — The beleaguered insurance giant AIG announced plans Friday to sell off parts of the company to pay off its massive debt ... its aircraft leasing business, asset management division, retirement services and U.S. life insurance operations. –From CNNMoney.com’s Tami Luhby and Aaron Smith [more...]
Date: 2008-10-03 15:45:08
The Last Post: 2008
At Cjunk we'd like to close out the year by featuring the biggest scam of 2008.No, it wasn't the Madoff ponzi scam .. ... , formerhead of Goldman Sachs Asset Management ... Management.On Nov 18 the First Church Estates Commissioner, Andreas Whittam Smith reported that in late [more...]
Date: 2008-12-31 23:45:00
Citi Breakup in Sight (Reuters)
This just in from Reuters; Robert Rubin's departure from Citigroup appears to have been a prelude to this ... (Reuters) - Citigroup Inc agreed to merge its Smith Barney brokerage with Morgan Stanley's wealth management unit on Tuesday, and is expected to make further asset sales to raise capital and to isolate [more...]
Date: 2009-01-14 08:05:44
Citi breakup in sight after Morgan Stanley deal (Reuters)
NEW YORK (Reuters) – Citigroup Inc agreed to merge its Smith Barney brokerage with Morgan Stanley's wealth management unit on Tuesday, and is expected to make further asset sales to raise capital and to isolate toxic assets from the rest of the bank. Citigroup, once the world's largest bank, may announce plans on January 22 [more...]
Date: 2009-01-14 01:46:29
Citi breakup in sight after Morgan Stanley deal
Citi breakup in sight after Morgan Stanley deal Posted by UK Economy News In UK financial news 14Jan 09 Citigroup Inc agreed to merge its Smith Barney brokerage with Morgan Stanley's wealth management unit on Tuesday, and is expected to make further asset sales to raise capital and to isolate toxic assets from the rest of the bank [more...]
Date: 2009-01-14 06:29:00
No Floor For Industrial Metals
The base metals continued on their quest for a floor on Friday ... s Tiberius Asset Management, who predicted that the global recession will reduce demand for industrial ... to any kind of bad economic news,” said Michael K. Smith, of T&K Futures & Options in Port St [more...]
Date: 2008-12-08 18:45:44
Rubin Resigns from Citi; Bank to Sell Smith Barney
Rubin's departure from Citigroup would seem to imply that his continued service there, ... (brokers have increasingly migrated towards asset under management pricing structures) would presumably [more...]
Date: 2009-01-08 07:05:35
"AIG: The Looting Continues"
Yves Smith wasn't very happy with the initial terms of the AIG bailout, and she is even less impressed with the " ... stock. – The loan was to be repaid by asset sales Now this could and should have been treated as a nationalization in all but name. The very top management was replaced... Look at the list [more...]
Date: 2008-11-10 06:34:16
AIG Gets All the Free Beer and Hot Dogs It Wants
AIG The Troubled Asset Relief Program was renamed over the weekend to Troubled American International Group Relief Program ... In the case of ruined firms like AIG, management no longer has the capacity to repair the broad damage ... commitment, and the terms are being made more favorable. And not by a little,” writes Yves Smith in Naked [more...]
Date: 2008-11-10 14:12:21
Wall Street rallied today as the Federal Reserve chairman urged more government spending and tax breaks to stimulate the economy, ... in terms of rate cuts or economic stimulus," Ryan Larson, head of equity trading at Voyageur Asset Management, told AP. "And, with credit easing in slow baby steps, the market has started to realize [more...]
Date: 2008-10-20 14:04:38
Could the Satyam/PwC fraud be the visible part of an iceberg? Where are India’s “Generally Accepted Accounting Principles”? Isn’t governance rather poor all over corporate India? Bad public finance may be a root cause
In a March 5 2007 article in The Statesman, I said: “Our farmers are peaceful hardworking people who should be paying taxes and user-fees normally but should not be otherwise disturbed or needlessly provoked by outsiders. It is the businessmen wishing to attack our farm populations who need to look hard in the mirror – to improve their [more...]
Date: 2009-01-08 07:40:36
How Shall We Then Invest?
Warren Buffett says buy. Jeremy Grantham says it will get worse. Both are celebrated value investors. Who is right? It all depends upon your view of the third derivative of investing. Today we look at valuations in the stock market. This is the second part of a speech I have given in the past few weeks in California and Stockholm [more...]
Date: 2008-10-30 18:56:27
THE WEEKEND
Not a lot of exciting stuff in Barron's but a nice interview with Birinyi- whose market expectations are about in line with my own(Lots of volatility but not much headway in either direction). Also, an interesting article on bonds (get out now!) by Andrew Barry.What does Laszlo say:You spend a lot of time looking at various market indicators [more...]
Date: 2009-01-04 12:45:00
Value At Risk
by hilzoy One of the things I love about bogs is that they allow people who really know what they're talking about to respond, publicly, ... . There's a wonderful example today. It starts with a long NYT article by Joe Nocera on a risk management tool called 'Value at Risk', or VaR. "Built around statistical ideas and probability theories [more...]
Date: 2009-01-05 05:10:19
Work-Safe Readings for Macro
In response to my post on the porn that is modern macro, readers naturally asked me for alternatives. I think there are two difficult issues that puzzle me about macro. First, as much as some people hate the "Wall Street, Main Street" lingo, the question of how financial markets affect the real economy is really important and unsettled [more...]
Date: 2008-10-22 21:28:54
Reserved Seats for Big Credit Spenders
by The Mogambo Guru When I come to my senses, I find that I am in some dingy little bar on the other side of town, stinking drunk; and the bartender has grabbed me by the front of my shirt to haul me unceremoniously halfway across the bar, and is rudely in my face, telling me through gritted teeth that if I want to stay there, [more...]
Date: 2008-10-27 20:52:10
Will investors support Pandit's new plan for Citi?
Citigroup Inc.'s board is supposedly standing behind CEO Vikram Pandit as he pulls apart Sanford Weill's trumpeted financial ... that the banks reached a definitive agreement to combine Morgan Stanley's Global Wealth Management Group ... ? This restructuring is sounding similar to American International Group Inc.'s asset sell-off, and [more...]
Date: 2009-01-14 21:22:38
Ethical or Unethical?
I was recently approached by a web/graphic designer that is currently working full time for an agency. Business is currently a bit slow in the design area and someone within the company approached them about the possibility of using their personal online portfolio to show potential clients in hopes to attract design work [more...]
Date: 2008-12-10 04:09:27
New Year Scams 3
My Greeting To Me, I am Mr. Peter Phillip a Bank Manager here in Uk. I write you this proposal in good faith, believing that you will not betray me. I believe it is the will of God for us to meet through this means. One Mr. Pedro Brito Rodriguez a US citizen and businessman made a (Fixed deposit) [more...]
Date: 2009-01-12 08:13:15
Is Citigroup A Tommy? Big Business and the Martin Lawrence Connection
Watching Citigroup (Ticker: C) unwind reminds me of a familiar Wall Street story line and a character from a hilarious TV show ... . More asset sales will certainly follow. How does management decide what to sell and what to keep ... it, bank blames small part of senior management, stock goes down the tubes, etc., etc [more...]
Date: 2009-01-14 18:12:57
The Citigroup Bailout
It's bailout time. Let's start with Paul Kedrosky: Good Bank, Bad Bank, and F---ed Bank: Apparently Citibank and the U.S. government (i.e ... will go to the FDIC Any more losses will go to the Fed There will be no management changes at Citi ... that letting Citi fail -- but so far I'm not impressed. ... Yves Smith: WSJ: US Agrees to Bail [more...]
Date: 2008-11-24 07:43:10
Despite Early OPEC Meeting, Some See Even Lower Oil Price Near Term
What a difference six months makes. When we questioned the thesis that the oil price runup earlier in the year was due solely to supply and demand, we got a fair number of hostile comments (see here and here for some of many examples). And now the view that oil will keep falling has also developed a life of its own [more...]
Date: 2008-10-20 09:23:00
Where to next? The World’s economy in 2009
Will Brown looks ahead to 2009 and suggests it’s not a good time to be a capitalist ... management. These lessons have been learnt and the bold action taken by the Fed and the Bank of England ... of us who are not wealthy. But if there is a general fall in asset prices (land, houses, shares); retail prices [more...]
Date: 2009-01-04 08:50:14
Wall Street, Circa 2010: Disaggregation and Specialization
The Wall Street of today is almost unrecognizable from that at which I worked for almost two decades ... word. Securitization? Don't want to hear about it. Asset-backed what? Sell - sell now! What started ... complexity and distance from its intended goal, risk management, was a key contributor to the financial [more...]
Date: 2009-01-08 16:07:45
The Citi Never Sleeps - Only its Board, Risk Managers and Regulators
The Citigroup of the past decade is THE shining example of an array of costly failures: accounting policies; business strategies; management compensation schemes; risk management practices; and Government policies. And now we see that Citigroup is doing badly; more badly, in fact, than many thought likely. Rubin is out. Smith [more...]
Date: 2009-01-08 16:07:45
Live-Blogging the Citigroup-Wachovia Acquisition Conference Call
Citigroup, clearly looking to challenge J.P. Morgan for the conference-call speed title, announced its acquisition of Wachovia’s assets at 8:23 a.m ... and then a crisp “please hold.” Good instructions for Armageddon, too. Mozart — Symphony No. 25, this sounds ... in this transaction…we have contained the asset risk and the operational risk is also [more...]
Date: 2008-09-29 15:25:15
Paul Williams, Investigator and writer into all things islam! ... its stake in Smith-Barney retail brokerage to Morgan Stanley.To most readers, such news is economic ... which presents itself - - along with Well Fargo, J.P. Morgan Chase, and the Bank of America [more...]
Date: 2009-01-14 02:19:39
Boucher to Karzai: Stop sending terrorists to Pakistan from Kabul
Noticias de Rupia | Nouvelles de Roupie | Rupiennachrichten | новости рупии | 卢比新闻 | Roepienieuws | Rupi Nyheter | ルピーニュース | Notizie di Rupia | PAKISTAN LEDGER | پاکستاني کھاتا | Defensebriefs Translate to: RSS feed: | RUPEE NEWS | Moin Ansari | معین آنصآرّی | اخبار روپیہ | President Zardari also called upon the US and the world [more...]
Date: 2008-10-20 04:29:18
News Roundup: Nilgiris to Unlock Real Estate Holdings for Rs 100 Cr
KPCL and BHEL to Form JV to Operate Thermal Power Plants - Karnataka Power Corporation Limited (KPCL) and Bharat Heavy Electricals Limited (BHEL) ... is one of the highest oil-producing regions in the world. ONGC is looking at making Imperial's asset a platform ... of the Emergency Management and Research Institute (EMRI), a non-profit organisation [more...]
Date: 2009-01-13 04:09:47
Agent Interview: Sarah Davies of The Greenhouse Literary Agency
Sarah Davies runs the Greenhouse, a full-service literary agency exclusively for authors of fiction (though not picture books) for children and young adults. Greenhouse launched in January 2008 and has already developed and sold a number of debut authors.With offices in Virginia (just outside Washington D.C.) [more...]
Date: 2009-01-07 14:07:00
Hedge Funds Preying On Weak Peers
Hedge Funds Preying On Weak Peers Traders play to win, and hedge funds are unconstrained by big-firm considerations, ... Management meltdown, the firm had become so big in so many markets that it quickly became obvious ... The announcement last month that Ospraie Management was winding down its flagship fund encouraged predatory [more...]
Date: 2008-10-03 08:59:23
Market flat
Jump to CommentsMarket song o’ day: Where There’s Smoke There’s Fire ... Wealth Management? is running because he Madoff’d some dough? Related parachutes: Cessna to lay off 2,000 ... quarterly multibillion loss next week.Why not: Morgan Stanley and G.E. Seek Tax Waiver on Loans. Soon [more...]
Date: 2009-01-13 21:02:57
A Government of People-Eaters
by The Mogambo Guru In the essay "Madoff and Bernanke: Doing the math (or: Soylent Green Finance)" by David Goldman at blog.atimes ... Capital says, "The Federal Reserve estimates that in the past year, losses in real estate, stocks ... the figure at $20 trillion." Bud Conrad of CaseyResearch.com says that "a reduction in asset [more...]
Date: 2008-12-24 21:06:20
Citicorp:Bischoff under fire - Pandit questionable - Rubin says bye,bye
nytimesFederal banking regulators are pressing Citigroup to shake up its board and replace its chairman, Winfried F. W ... apart with a plan to spin off Smith Barney into a joint venture with Morgan Stanley. That news ... these changes."Separately, Citigroup (C, Fortune 500) is in talks with Morgan Stanley (MS, Fortune 500 [more...]
Date: 2009-01-12 14:48:00
Gates of Vienna News Feed 11/9/2008
Don’t miss Bill Ayers’ op-ed in the Toronto Star.Also worth looking at: the “Axis of Evil” countries love Obama. Kenya is expecting a quid pro quo from its favorite son. Corzine is rumored to be in line for Treasury. And the recession hits China.Thanks to Abu Elvis, C [more...]
Date: 2008-11-10 04:33:00
Citi breakup in sight after Morgan Stanley deal (Reuters)
Citi breakup in sight after Morgan Stanley deal (Reuters) at 11:08 am People walk past the Citigroup headquarters in New York, November 24, 2008 ... . (Brendan McDermid/Reuters) Reuters - Citigroup Inc agreed to merge its Smith Barney brokerage with Morgan Stanley's wealth management unit on Tuesday, and is expected to make further asset sales [more...]
Date: 2009-01-14 12:32:02
CFA Designation: 1 Page Guide
CFA Designation 1 Page Guide to the CFA Designation Quick Links: Chartered Hedge Fund Associate (CHA) Chartered Alternative Investment Analyst (CAIA) ... , derivatives, venture capital, real estate, etc.), and Portfolio Management and Analysis (asset ... with the areas of investment banking, portfolio/investment management, and financial analysis of [more...]
Date: 2009-01-14 12:30:24
Win Smith (as in Merrill Lynch Pierce Fenner & Smith)
Thank you for allowing me to say a few words on this most important morning. I will say more about you in a moment, but I just wanted to thank you up front for your leadership and all you have attempted to do this past year. Fellow Shareholders, I speak to you today as a 28 year employee, [more...]
Date: 2008-12-06 16:00:28
The latest developments concerning The High Road forum
I think it's time those interested in the subject were told of the latest developments concerning The High Road (THR) firearms forum. I've posted about events there on September 25th, September 28th, October 3rd and October 17th last year. If this subject is new to you, please see those posts (and in that order) to get background information [more...]
Date: 2009-01-07 03:44:00
Pretend I Said Something Funny About Sir Mixalot and "Fat Tails"
Perhaps otiose to recapitulate a hilzoy post you all read already, but you might not have followed the links! She, like me, enjoyed the Nocera article in the NYT Magazine on VaR--a flawed risk-management tool ... of all right when it comes to risk management. As hilzoy notes, the great thing about blogs [more...]
Date: 2009-01-05 13:40:37
Legal News - LexBlogosphere: 9/29/08
Legal News - LexBlogosphere: 9/29/08 The Dow fell the most points in history and the bailout plan failed ... career sites and attorneys are starting to use them as a tool in jury selection. An Asset Search In A Chapter 7 Bankruptcy Case - New York attorney Fred Abrams in his Asset Search Blog Attorneys [more...]
Date: 2008-09-30 00:46:45
THE WORLD today!
———————————————————————————1. Barack Obama wins Presidential Election and becomes the 44th President of the United States starting January 20 - Hope for a Change - Yes we can -130 Million Americans, more than in any other election since 1960, voted for a change and choose Obama, [more...]
Date: 2009-01-13 00:09:08
Karol Boudreaux on Wildlife, Property, and Poverty in Africa
Karol Boudreaux, Senior Research Fellow at the Mercatus Center at George Mason University, talks with EconTalk host Russ Roberts about wildlife management in Africa. Their conversation focuses on community-based wildlife management in Namibia, a policy to give communities the incentives [more...]
Date: 2008-09-22 10:36:51
The Troubled Asset Pension Fund
by The Mogambo Guru Junior Mogambo Ranger (JMR) Phil S. was apparently as aghast as I was, so he sent the AP news item that "The Treasury Department opened the door…to using a Citigroup-style rescue package to help other troubled financial institutions", which referred to the scam of the government " [more...]
Date: 2009-01-08 01:41:18
