Opening Bell: 08.07.2009

Posted by William Richards, Aug 07, 2009, 7:36am

Oh For The Love Of Love (DealBreaker)
Yesterday on one of Greg's posts I noticed a little calf showing, a snip here or there, perhaps even some honest flirting (one can't be sure where hatred and horny meet with this crowd). We care about our readers; we want you to be happy.It's just what we do, people. That said, after speaking with InvestorCluzo (who has been a remarkably good sport about this), if Tax Chick can summon the gumption to accompany that mouth we'd be happy to arrange for the two of you lovebirds to shake hands.

AIG Reports First Profit In Seven Quarters (Bloomberg)
AIG has managed to pull its head from its ass for at least a quarter, as they report second quarter income of $1.82B or $2.30 a share.

RBS Posts $7.52B Loss (Bloomberg)
""There is every sign that our financial performance over the next two years, at a group level, will be poor due to the severe economic downturn in 2008 and 2009 and consequent impact on impairments and funding costs," Chief Executive Officer Stephen Hester said today in a statement."

Small Banks Picking Up Talent (WSJ)
Regionals are dipping into the talent pool of the larger firms, though the article doesn't expressly define what positions these finance geniuses are interested in. Is this a sign of times to come (people looking for the stability of smaller/less risky operations), or of desperation?

President Obama Not Saying Shit About Replacing Bernanke (Reuters)
Bernanke's term expires January 31st, 2010; as is we don't have any clue as to whether or not the President will be stepping in to replace him. There's a good point to be made in cutting him down now, though - you don't give him the authority or respect that tenure demands.

ProShare Getting Sued Over Leveraged ETF (WSJ)
It's a failure to disclose risk suit, which is comical on so many levels. Labaton Sucharow LLP is leading the charge.

Citigroup Considers Options With Philbro (NYT)
"After putting out feelers to sell its Phibro commodities business, including a brief talk with the billionaire investor Warren E. Buffett, Citigroup is considering a variety of options. Among them is a deal that would give control of the unit to Mr. Hall, the energy trader who runs Phibro, two people close to the negotiations said."

NYT Hires Goldman To Explore Boston Globe Sale (Reuters via CNN)
"The New York Times Co has enlisted Goldman Sachs to explore a sale of its New England Media Group, which owns the 137-year-old Boston Globe and other media assets."

Bankers Beat Odds In Toxic Pay Plan (WSJ)
Despite its detractors, it turns out the CS plan to pay bankers with bonds hasn't been all that bad.

0Recommend this! 35Comments
Posted in: Opening Bell

Comments

Comments hidden for your protection. Show them anyway!

Post Your Comment