Morgan Stanley Profit Surges (Fortune)
The bank made $1.1 billion, or 43 cents a share, from continuing operations. That’s up from $653 million, or 18 cents a share, on a comparable basis a year ago and ahead of the 35-cent analyst consensus estimate.Revenue rose 14% from a year ago to $7.8 billion, beating the $7.4 billion analyst target. Revenue rose 12% in institutional securities and 7% in global wealth management. Within institutional securities, principal transactions trading revenue fell 27% from a year ago.
FrontPoint’s Steve Eisman Weighs Leaving The Firm (WSJ)
Mr. Eisman, 48 years old, said Wednesday in response to questions about his plans, “At this point in my career, I want to have more control over my destiny.” He said he hasn’t decided on a structure for a potential new firm, and he plans to continue managing investments for FrontPoint, as well as for other investors, in any event.
David Tepper Is Cautious For 2011 (NYP)
Tepper said while “the biggest opportunities” will remain in equities, 2011 will be “harder and not without risk.” “When things go up too high, they will go down,” Tepper said, referring to the recent market surge, which saw the S&P 500 close the year up 13 percent, in line with his prediction.
Initial Jobless Claims in U.S. Fell to 404,000 Last Week (Bloomberg)
Applications for jobless benefits decreased 37,000 in the week ended Jan. 15, the biggest decline since February 2010, to 404,000, Labor Department figures showed today. Economists forecast 420,000 claims, according to the median estimate in a Bloomberg News survey. The number of people on unemployment benefit rolls fell, while those getting extended payments rose.
More Than 100 Suspected Mobsters Arrested (WSJ)
The arrests were made around the New York area on charges including racketeering, conspiracy, extortion and murder, a person familiar with the situation said. The takedown involved accused members and associates of all five New York organized-crime families: the Gambinos, Genoveses, Bonnanos, Luccheses and Colombos, this person said. Also arrested were members of the DeCavalcantes in Newark, N.J., and accused New England mobsters in Providence, R.I.
Spain To Ramp Up Bank Bailouts (WSJ)
In a first step, Spain is preparing to issue €3 billion ($4 billion) in debt in coming days, the people familiar with the matter said. Government officials are putting plans in place to eventually raise as much as €30 billion, according to these people, though some say the final tally will be less.
Blackstone on Pensions: ‘We Oppose Scapegoating Public Employees’ (Deal Journal)
“Blackstone’s view on public employee pensions is clear and unambiguous: We believe a pension is a promise. Working men and women should not have to worry about their retirement security after years of service to their communities. We oppose scapegoating public employees by blaming them for the structural budget deficits that cities and states face. We at Blackstone are committed to helping public employees retire with confidence in the strength and reliability of their pensions.”
Carlos Slim: Invest In Mexico Or Else (CNBC)
In fact, he says those choosing not to invest in Mexico are making a big mistake: They will lose. “If they are already here, they will lose market share. If they are not here they will lose a very big market. We are 110-112 million people, and growing the economy,” Slim says.
“Upon returning to Mexico, Mr. Slim was shot in the head as he was deboarding his plane. He was shot by the pilot of his Air Mexico flight, who was apparently also working for one of the Cartels involved in the current drug war.”
Thanks, but I think I’ll wait for some of that, uh, “stability” stuff first.
Encore, please.
pretty sure Carlos Slim doesn’t fly commercial…
If you haven’t invested in Mexico or thrown a grenade into a live audience, you haven’t killed it, new or old.
-Tenoch Gringo Negro
“Furthermore, we at Blackstone deplore the disappearance of capital from any of our other clients as well, particularly when said disappearance results in a drawdown in our AUM.”
Not at the table, Carlos.
for a second there i thought bonobos were arrested
-relieved
for a second there i thought bonobos were arrested
-relieved
That was Steve Jobs looking for fresh organs.
That was Steve Jobs looking for fresh organs.
I invest in mexico by the 8-ball
110M people equates to roughly 43 families in Mexico
~ guy who loves to stereotype non-Americans
You can’t arrest a movement.
-TAFKAP
Also equates to 3 cars.
Also equates to 3 cars.
Tenga en cuenta sus motivos.
Kill yourself.
Buying mini turtle/snail/sombrero magnets for 5 cents and having your toddler harrass tourists into buying them for $1 is the NKI….
-Gringo who loves Cabo but hates the toddlers
Then use an f*ing condom, chief. Or punch the mom in the uterus like everybody else.
Clever! Did you come up with that yourself?
Clever! Did you come up with that yourself?