• OTB Is in Financial Trouble, but It’s Ready to Roll – Sometimes, time-honored traditions such as OTB are allowed certain concessions. [NYT]
• Madoff Details, and Property, on Tap – “[Inspector General David] Kotz turned over the report to SEC Chairman Mary Schapiro late Monday, and it is likely to be released within a week after the SEC’s five commissioners review it.” Probably no details on girth, etc. [WSJ]
• Disney Deal Could Spark Imaginitive M&A Ideas “When merger momentum really gets going, companies splash out for takeovers that make little sense to anyone except the investment bankers involved.” [DealBook]
• Stanford Back in Jail After Medical Tests – An aneurysm can’t keep Stan out of jail. DON’T MESS WITH TEXAS. [DealBook]
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Preliminary Analytics | 09.03.09
- Caleb Newquist
- September 3, 2009
• Treasury Retreats From Standoff With TARP Watchdog – “Neil Barofsky, special inspector general for the Troubled Asset Relief Program, a position also known as Sigtarp, declared victory Wednesday in his effort to clarify that he doesn’t answer to Treasury Secretary Timothy Geithner.” [WSJ]
• Oracle Faces In-Depth EU Probe Over Sun Purchase – Larry Ellison will not stand this aggression. [Bloomberg]
• Will AIG Rein In Its Brash CEO? – “Mr. Benmosche said New York Attorney General Andrew Cuomo ‘doesn’t deserve to be in government’ and that Mr. Benmosche would leave dealing with ‘all those crazies down in Washington’ to the company’s chairman, according to an account by Bloomberg News that was confirmed by Mr. Benmosche.” For the sake of the rest of us, let the man say his piece. [WSJ]
• Stanford Has Surgery; Receiver Defends $27 Million Fee – “Jailed fraud defendant R. Allen Stanford had surgery for an aneurysm in his leg Wednesday morning and was back in a Conroe-area prison before noon.” Recovery time for a stud such as Stan is not nearly as long for you mortals. Meanwhile, the receiver in the case is telling the SEC to BTFO. [Houston Chronicle]
• Stanford’s Bellagio debt, redux – Stan’s attorney suggests that if the Bellagio wants its money it should go after the aforementioned receiver, Ralph Janvey. Old school style of course, ‘Maybe the Bellagio should revert to the time-honored method of Vegas debt collection and send someone to make the receiver an offer he can’t refuse, or just break his legs,’ or may we suggest a hammer? [FT Alphaville]
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Preliminary Analytics | 08.04.09
- Caleb Newquist
- August 4, 2009
• UBS CEO Expects Swiss Government to Sell Stake by Year-End – Does this mean that the Swiss are better at capitalism than the Americans? [WSJ]
• Geithner Vents at Regulators as Overhaul Stumbles – Sounds like someone needs a hug. Can anyone recommend a good shrink for T. Geith? [WSJ]
• Biggest Banks Come Up Short on List of Mortgage Modifications BofA. Citi. Meh. [Bloomberg]
• Bill Clinton Lands in North Korea, May Ease Tension – “Former President Bill Clinton arrived in North Korea on a surprise visit that may help defuse tension over the communist regime’s nuclear program and secure the release of two U.S. journalists sentenced in June to 12 years.” Arkansas moxie to the rescue. [Bloomberg]
• Sizzling summer for white shirts – So sayeth Charlie Tyrwhitt [BBC]
• Goldman Princes Told: Spend Like Paupers – Apparently, LB is concerned that pubic hangings may regain popularity. [New York Post]
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Preliminary Analytics | 12.17.09
- Caleb Newquist
- December 17, 2009
• Ben Bernanke: Time’s “Person of the Year” – The JDA almost fools you into thinking that she wasn’t that upset over Time’s selection. [JDA]
• BofA Taps Moynihan as CEO – The search is now on for the location for the Ken Lewis send-off. [WSJ]
• Proxy Disclosure Of Stock-Based Comp To Change Under SEC Final Rule Approved Today [FEI Financial Reporting Blog]
• SAC Capital, Steve Cohen (And His Brother) Sued By Ex-Mrs. C – She’s alleging insider trading, concealing of assets during their divorce, and wants $300 mil for her trouble. [DB]
• Citi to Suspend Foreclosures for 30 Days – “The New York-based bank said Thursday the suspension will run from Friday through Jan. 17. It applies only to borrowers whose loans are owned by Citi. Borrowers who make payments to Citi but whose loans are owned by other investors are out of luck.” [AP via NYT]