• 28 Apr 2009 at 7:20 AM

Opening Bell: 04.28.09

Picture 1228.pngLondon Bankers Look For Exits After Tax Raise (Bloomberg)
Apparently the recent push to 50-something-percent was just too much to take; it looks like our London brethren are looking for exits to decidedly less tax-involved areas.
Swine Flu Hits Ernst & Young In Times Square (WCBS)
We always knew the trouble would start* in accounting.
*Manhattan edition.
Deutsche Bank To Keep Ackermann (FT)
“The decision to prolong Mr Ackermann’s tenure at the bank until 2013 is a sharp reversal of the bank’s repeated indication that the Swiss-born banker was ready to step down when his current contract ends in May next year.
Clemens Börsig, chairman of Deutsche’s supervisory board, said the decision “secures leadership continuity” for Germany’s largest bank. The bank said the offer to Mr Ackermann was made at the unanimous request of the supervisory board, which met on Monday. Mr Ackermann had agreed to the request, the bank said.”
In related news, Deutsche turned in its numbers:
“Deutsche Bank posted a better-than-expected net profit of €1.19 billion ($1.55 billion) for the three months ended March 31, compared with a net loss of €131 million a year earlier. Analysts polled by Dow Jones Newswires had forecast, on average, a €764 million profit.
The latest results included charges of €1.5 billion, including €1 billion in mark-downs, bringing total crisis-related charges to €10.7 billion. Year-earlier results, the bank’s first quarterly net loss in five years, were hit by additional asset write-downs, lower revenue and a trading loss in a deteriorating market.
Revenue in the first quarter rose 57% to €7.2 billion from €4.6 billion.”
Italy Seizes Millions In Assets From Banks (NYT)
“With municipal bond investigations spreading to Europe from the United States, Italian authorities have seized about $300 million in assets of four global banks — JPMorgan Chase, Deutsche Bank, UBS and Depfa — whose officials have been accused of fraud.”
Wilbur Ross To Join PIPP Effort (WSJ)
Bill Gross just makes it look too magical to pass up, doesn’t he?
Gulfstream, Cessna Sales to Slide for 2 Years as CEOs Shun Jets (Bloomberg)
Damn you, Congress. Damn you to hell.

21 comments (hidden to protect delicate sensibilities)
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Comments (21)

  1. Posted by guest | April 28, 2009 at 7:23 AM

    Accountants are swine

  2. Posted by guest | April 28, 2009 at 7:31 AM

    Thanks a lot AIG and American taxpayers.
    – Deutsche Bank

  3. Posted by guest | April 28, 2009 at 8:27 AM

    Seriously If you are in to the 62% [includes NI] tax bracket why would you stay in the UK? I didn’t.

  4. Posted by guest | April 28, 2009 at 8:29 AM

    UBS sucks.
    I almost missed today’s report of UBS wrong doing.

  5. Posted by guest | April 28, 2009 at 8:57 AM

    uk is making a fatal mistake. a country with such ugly women can not raise taxes that high – its simply not a good propositon.

  6. Posted by Anal_yst | April 28, 2009 at 9:21 AM

    Ooo, private jet sales down, SHOCKER! (no, not that shocker). lets start the fire sales, I’ll be bidding price is right, $1 for any otherwise abandoned jets

  7. Posted by guest | April 28, 2009 at 9:50 AM

    Guest@#5…
    “uk…a country with such ugly women”
    And what makes you such an expert on those women? And what might you have going for you that could possibly be of interest to any of them anyway?
    Your post sounds like the words of a tool.
    The Guy from Delaware

  8. Posted by guest | April 28, 2009 at 10:01 AM

    @7 You are kidding, right? Too much beer, smoking and god knows what. Hideo-Bitches to the Max in the UK!

  9. Posted by guest | April 28, 2009 at 10:40 AM

    Guest@#8/#5…
    Look in any gutter and you’ll always see what’s there. Your two posts tell me that your tastes are in that gutter, and then you complain that the inhabitants of said gutter are not up to your standards.
    When TGFD was in the UK, I didn’t see what you saw, quite the opposite, actually. TGFD must not have visited the swills that you frequent.
    The Guy from Delaware

  10. Posted by guest | April 28, 2009 at 10:45 AM

    @8 Ditto.
    Dude from Del: Seriously? Have you been to the UK? Do you realize that Elizabeth Hurley in an anomaly? Or are you simply charmed by Hugh Grant?

  11. Posted by guest | April 28, 2009 at 11:11 AM

    @ The Guy from Delaware
    because you’e easy to please you old pig – you’de hump anything with long hair

  12. Posted by guest | April 28, 2009 at 11:15 AM

    @7/9, 5 here
    i live in london, thats why i know. you have absolutely no idea what women should be like since you live in delaware in your mother’s basement, and the last time you touched a womwn that wasn’t family was when your kindergarten teacher smacked you over the head for jerking off in the classroom.

  13. Posted by guest | April 28, 2009 at 12:33 PM

    Guest@#12…
    You live in London, so you generalize about all the women in the UK. I guess, “That’s why you know” as much as you claim.
    You still haven’t answered my 2nd question from TGFD’s #7.
    Guest@#10…
    I’ve been to the UK but not to London. It’s not really on my list of places to visit. Besides, the UK is a big place, and London’s like any big city that can distort one’s perspective of an entire country.
    TGFD doesn’t know WhoTF Eliz Hurley is, and I don’t care anyway. Hugh Grant? I’ve seen him in a few movies.
    The Guy from Delaware

  14. Posted by guest | April 28, 2009 at 12:35 PM

    Guest@#12…
    You live in London, so you generalize about all the women in the UK. I guess, “That’s why you know” as much as you claim.
    You still haven’t answered my 2nd question from TGFD’s #7.
    Guest@#10…
    I’ve been to the UK but not to London. It’s not really on my list of places to visit. Besides, the UK is a big place, and London’s like any big city that can distort one’s perspective of an entire country.
    TGFD doesn’t know WhoTF Eliz Hurley is, and I don’t care anyway. Hugh Grant? I’ve seen him in a few movies.
    The Guy from Delaware

  15. Posted by guest | April 28, 2009 at 12:35 PM

    Guest@#12…
    You live in London, so you generalize about all the women in the UK. I guess, “That’s why you know” as much as you claim.
    You still haven’t answered my 2nd question from TGFD’s #7.
    Guest@#10…
    I’ve been to the UK but not to London. It’s not really on my list of places to visit. Besides, the UK is a big place, and London’s like any big city that can distort one’s perspective of an entire country.
    TGFD doesn’t know WhoTF Eliz Hurley is, and I don’t care anyway. Hugh Grant? I’ve seen him in a few movies.
    The Guy from Delaware

  16. Posted by guest | April 28, 2009 at 12:39 PM

    Brown and Co have done one good thing after all – even if unintended. Give banks billions to cover their losses due to greed and incompetence so as to keep this corrupt stinking industry kicking along, then try and claw some back but catch even productive folk in your net.
    May not seem like a good plan – but if only a few of these f*ckers leave then some good may come of it after all. Now f*ck off you w*nkers ! London will smell much better when your gone.

  17. Posted by guest | April 28, 2009 at 12:41 PM

    TGFD triple posted. I got an error message and reposted. Embarrassing.
    The Guy from Delaware

  18. Posted by guest | April 28, 2009 at 1:15 PM

    @17
    Embarrassing is your middle name. Like in:
    The Embarrassing Guy From Delaware

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