Updated from 10:39 a.m. EDT Stocks tumbled around the world Monday in reaction to Friday’s post-bailout slide in the U.S. and a growing crisis in Europe’s banking system. …
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On a day when global markets were routed amid quantitative signs of investor panic, there were more than a few strange sights on Monday. But perhaps none stranger or more sobering than CNBC’s famously bullish analyst Jim “Mad Money” Cramer interrupting middle America’s morning coffee with a warning to sell its stocks. Right. Now.
“Whatever money […]
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From Silicon Alley Insider, Oct. 6, 2008:eBay is finally acknowledging its new reality and cutting its global workforce by 10%
(1,000 employees plus temps and open job reqs). The company got fat
during its salad days, and now that buyers and sellers are
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Bristol-Myers decided against holding a protracted bidding war for ImClone Systems and instead decided to let Eli Lilly & Co win the biotech company without much of a fight.
Instead, Bristol-Myers decided to cash in its 16.6-percent stake in ImClone for $1 billion and walk away.
Bristol said there were advantages to letting go of its hopes […]
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From ClusterStock, Oct. 6, 2008:As a backdrop to the global market crash, Lehman CEO Dick Fuld will
get his public lashing on Capitol Hill today. Members of Congress will
compete for that one knockout soundbite that will reduce Fuld to jelly
and domina
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It seemed like the natural order of things had returned for a short while last week. Wells Fargo had outbid Citigroup to take over Wachovia, and as an added treat, they did not plan to tap government funds to do it. Apparently caught unawares, the jilted suitor sued saying its exclusivity agreement had been broken. If […]
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