Posted by Investorcluzo, May 03, 2008, 9:48pm
Microsoft Withdraws Yahoo Offer
After Sweetened Bid Is Rejected
By KEVIN J. DELANEY, MATTHEW KARNITSCHNIG and ROBERT A. GUTH
May 3, 2008 9:40 p.m.
Microsoft Corp. said it abandoned its offer for Yahoo Inc., as the two companies failed to bridge a gap between them on price.
Microsoft released a letter from Chief Executive Steve Ballmer to Yahoo CEO Jerry Yang saying that Microsoft had said it was willing to raise its offer to $33 a share for Yahoo, but Yahoo demanded at least $4 per share more.
looks like stevie is calling jerry out, this can't be the final chapter of this book (can it?). will he go back after yhoo drops to pre bid levels as investors unload the truck?
Posted by Investorcluzo, Mar 21, 2008, 7:44pm
on a sleepy friday when no one was at work (at least on the trading floors), S&P took a big leap and cut the “outlook”, but not the rating, (talk about going out on a limb) on golden slacks (thanks cramer) and the lehman sisters.
http://www.bloomberg.com/apps/news?pid=20601087&sid=awvTfLGlyzws&refer=home
seriously, do any institutions still read their propaganda? take a gander at some of the riveting analysis they provide as rationale for the “downgrade”: “our current expectation is that net revenues could decline 20%-30% year-on-year…” (let me guess, they were on the earnings call too); but wait, there’s more: “…we see some possibility, were there to be persisting capital markets turmoil and sharply weakening economic conditions, that financial performance could deteriorate significantly.''
talk about a crystal balls and deep analysis. perhaps we should take this as a sign of a market bottom for financials (never mind the bounce they had on thursday despite CIT). are the “major agencies” still relevant? just askin’…
Entry: Deposit Insurance For Sophisticated Investors?
posted by Investorcluzo
Mar 19, 2008 4:25PM
if we must continue to speak about this topic…while nicole does make some good points, she also makes certain assumptions that don’t hold water. people do learn from past mistakes. lehman, for example, was much better positioned for this liquidity crisis as a result of their experience in 1998. do you think the banks will go back to their lax lending standards any time soon? just because the fed came in this time, doesn’t mean that people will assume they’ll do it again. let’s not forget how this all began – rumors. if the fed didn’t step in, I believe the next one would fall with greater alacrity because no one would want to be left holding the bag. perhaps you wouldn’t even get rumors first, just redemptions as the “smart” money looked to get out before the herd.
let’s be honest here, everyone knew what the big bad bear was doing: mortgages 24/7. how long have we known that RMBS/CMBS/CDO’s and the like were black boxes? at the very least, it’s been a year - and we still don’t know the value of the bear portfolio. in the final analysis, it will be worth what someone is willing to pay for it – we just don’t know who that “someone” is…yet (wilbur/warren?). soooo, should we punish everyone to make a point to the hedgies and the well to do? not in an election year!