Talks regarding a merger between Morgan Freeman and Stanley have sadly fallen through but the Times reports that MS is considering joining up with Wachovia. John Mack apparently received a ring from WB this afternoon, interrupting his call with SEC Chair Chris Cox. Discussions are purely preliminary and like every could very well fall through.
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- Use the Bloomberg command
NH BLG_DEALBREAKER <GO>
to access Dealbreaker
BSB – Big Shitty Bank?
Best headline ever….
http://nymag.com/daily/intel/2008/09/cox_bans_naked_short-selling.html
well it should be a done deal by tomorrow morning ;-) no kidding
I wonder if Charlotte will be inundated with cheesy bottle services bars and over priced starchitect condos now?
-C
BSB= burgers, shots, beers. Ticker already taken.
Oh god please no.
What cowards – by looking into the merger, they have admitted that they cannot stand alone, so if it doesn’t go through….END GAME….they should have hunkered in and bought all the stock they could – all the pensions stopped their security lending
working over this weekend again, are we?
God no, don’t sell Morgan to hillbillies.
I hate to say it, but GS has won…MS is entertaining a harem of crap banks
Hilarious to see the white shoed wingtips at Morgan Stanley bought out by the “2nd tier” bankers they despise.
Who’s second tier now?
I thought it was going to be SachOvia, ticker SCV. (Though somebody already grabbed the domain sachovia.com).
f*ck, sigh…
two words: bad idea…
http://www.hulu.com/watch/10310/saturday-night-live-bad-idea-jeans
as reported, ms is having discussions with wb AND others…let’s hope there are some better looking others.
Charlotte, North Carolina will soon be a more important investment banking center than Manhattan. Fuck it, I’m leaving work early to go drown my sorrows in bourbon. Who’s with me?
Yeah, you’re working this weekend.
At least you’ll be able to tell your kids about this week if your laptop hasn’t made you sterile.
Hilarious to see the white shoed wingtips at Morgan Stanley bought out by the “2nd tier” bankers they despise.
Who’s second tier now?
Ha. That is a funny headline..
“Cox Stiffens Rules on Naked Short-Selling”
MS is bigger than WB. Bunch of hillbillies gonna get The Knife.
Still an absolutely terrible idea.
Charlotte, North Carolina will soon be a more important investment banking center than Manhattan. Fuck it, I’m leaving work early to go drown my sorrows in bourbon. Who’s with me?
So which is worse; merging with Wachovia or Bankruptcy?
karma is a b!@ ain’t it…
for years ms bankers used wachovia as the butt of their jokes and now…WOW.
karma is a b!@ ain’t it…
for years ms bankers used wachovia as the butt of their jokes and now…WOW.
Merging with Wachovia, definitely.
Still, Morgan’s bigger so they should just keep both brand names and HQ in NYC.
@22 Ha!
I was going to merge with Wachovia but I decided to have a hot coffee enema instead!
blame the devil. btw charlotte seems to have growing business of woreouses
@22 – I’ll tell you what’s worse: merging with wb, then falling into bk b/c the damn hillbillies bought a bunch of sub-prime mortgages in california that are going to explode in the next few quarters.
DOES THIS MEAN STAN O’NEAL CAN HAVE HIS JOB BACK?
I hope WB tanks on the news and they end up having to trade the firm for a ham sandwich.
wachovia is still the butt of jokes
i dont see wachovia as a controlling partner
just the deposits and “confidence”
Suite and RiRa will soon be inundated with guys from “my new haircut.”
-S&J
@17 Go fuck yourself. Morgan’s going back to JP bitches
@14 and 29 are exactly right. Morgan Stanley will never, ever merge with Wachovia. It would solve nothing: Wachovia is in even deeper trouble than MS. Without help from Bernanke and Paulson, both firms will be dead in two months. It is ironic that Morgan Stanley was called in to devise a solution to the problems of Fannie and Freddie. Physician, heal thyself.
Wasn’t Morgovia the eastern European nation ruled by Dr. Doom in the Fantastic Four?
The venerable Morgan Stanley merging with that shithole…christ…
@ Cluzo – you got it.
WB – 60% of thier subprime exposure is in California and Florida. In thier estimates they are using %20 peak to trough for the housing market. IMO peak to trough in california and florida is going to be closer to %60 and for subprime i am going to guess
%80.
@27…
Clap Clap Clap… brilliant.
let’s rewind the tape on this one. on yesterday’s conf call, colm kelleher (cfo and head of strategic planning) clearly stated in his opening remarks:
“let me also add at this point very clearly that depository institutions do not necessarily
better enable us to execute our business and in fact may bring with them their own set of
complications.”
if the reports are true, do the shareholders have a right to sue? I’d like to hear from the legal beagles out there – with the significant drop in today’s trade, I’m sure there are plenty of class action guys/girls waiting to pounce…
key word being “necessarily”. Like not necessarily if they are WaMu, otherwise “yes necessarily”
@39 – 60%/80%? That makes Meredith Whitney look optimistic.
- Dick in CLT
Bad idea. Just horrible. I can’t think of how merging with that bucket of toxic assets would improve MS’s position in anything but the extreme short term.
@cluzo – You’ve answered you’re own question:
Re-read your quote with an emphasis on “not necessarily” and “may bring their own complications.”
Plenty of wiggle room there – Especially when you consider that Kelleher has a congruent duty to extract the most value from MS should negotiations for a merger occur. Any decent lawyer will show that MS was working towards negotiating leverage in case a deal that “doesn’t bring complications” arises.
Correct me if I am wrong, but Wachovia is the bigger bank, more assetts, more deposits, more shit. MS, welcome to the CLT bitch.
The last time Morgan Stanley merged with someone Mack was sent packing after a few years. I hope he learned his lesson and will continue as CEO if/when they merge again. Announcement in 48 hours.
SPODE
@ 46:
uhhh
Market Cap MS – 24 B
Market Cap WB – 19.5B
Although yes I’m sure Wachovia has “more deposits, more shit”…..
48 hrs? they don’t have that kind of time – blood in the water with too many sharks – tonight?
but either way, as soon as MS is out of the way, all sights are set on GS, and if they start to look for someone to dance with, there won’t be too many options
@49. look at revenue, assets, pps based on forward eps, employees, etc.
wachovia will be the dominant partner.
20% peak to trough? LMAO @ hillbillies.
How about you clowns go out to Cali and take a look around?
SPODE – agreeing that MS would be acquiror. But don’t you think Steel (or at least a retail banker, to the extent Steel is at this point) is a better choice? The bigger bitch right now is WB’s mortgages. Assuming, of course, that Steel and/or WB agrees to keep its paws off MS for all intents.
There’s no way WB calls anyone to cede WB HQ to NY, BTW.
-Dick in CLT
I don’t think it will happen. The fundamentals on MS are sound, the stock is undervalued. No “undervalued” in the bullshit merger negotiation sense, but actually undervalued. WB is full of highly risky assets. I think MS is smart enough to know that this is the wrong partner at the wrong time.
@50
GS will merge with the Fed obviously.
This is so depressing. It would be like William Wallace tying a bow on his wife for prima nocta. Sickening…
ISSUER: LEHMAN BROTHERS HOLDING INC
SYMBOL: LEH
FILER: FULD RICHARD S JR
DATE TRANSACTION SHARES PRICE VALUE
9/15/08-9/16/08 Sale 2,878,302 $0.22 $638,983
OWNERSHIP: 420,382 (Direct) 83,362 (Indirect)
Looks like dick fuld sold 2.88 mln shares of LEH for $.22 for total proceeds of $638,983.
WASPs die, and die hard
Plenty of white pussy mercy/pity fucks to be had
@53
MS needs a partner not a liability. I’m thinking globally.
SPODE
I’m guessing…
Bank of Morgan Stanley China
I can’t wait to teach the MS bankers how we do things down here at The Wach…
Citic
SPODE
It’s either the hillbillies or the Chinese. Pick your poison.
White Shoe meets White Trash
am i good, or am i good?
@64 – nice
@61 – slow your roll, mack learned from his past mistakes. wb “investment bankers” (are there any?) will be looking for jobs if a deal materializes…
Post #62 was at 7:50 PM ET
CNBC 08:34 PM ET
Deal Breaker 8:50 PM ET
Not bad.
@64,
Why did you have to rin your otherwise fantastic joke with the request for recognition?
Please don’t do that again. Just make your joke and the adulation will follow.
@64,
Rin = ruin? doofus.
@68,
WTF? Weren’t you trying to correct the spelling error in 67 and not 64?
Your sir (or madam) are a raging douchebag.
@49:
Clearly, you’re not a banker.
@ 51 – Wachovia also has a larger number of nimrods, but that does not mean they will drive the bus. If this deal happens, Mack will have the reins, Bob Steel will be back in Manhattan, and all the me-too I-Bankers @ Wachovia will be rolling 401ks in the branch. Take it to the bank!
http://en.wikipedia.org/wiki/Mordovia -
Close enough. Not to be confused with Moldavia or Moravia.