Friday’s announcement the government will convert up to $25 billion of its Citigroup preferred stock into common equity represents Uncle Sam’s third direct attempt to rescue the floundering bank.The conversion would give the government up to 36% control o
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Posted on February 28th, 2009 by
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With the market heading lower again and the Dow hitting yet another new 11-year low intraday Friday, it’s hard to believe stocks will ever be a good investment. But “there’s a bull market in our future,” says John Mauldin, president of Millenni
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From The Business Insider, Feb. 27, 2009:If the latest Citi bailout goes as planned, US taxpayers will now own 36% of Citigroup. They will have paid way too much for the stock, thanks to Timothy Geithner, but ever-cheery Citi CEO Vikram Pandit is ha
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John Mauldin, president of Millennium Wave Advisors, was among the few analysts whose forecasts for 2008 proved accurate. Mauldin, author of the popular “Thoughts from the Frontline” e-letter, joined us to discuss the economic situation in Easte
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There have been a lot of analogies to describe the financial pain of the current economic recession, but CCMP Capital Chairman Gregory Brenneman evoked a more holy view.
“A prolonged recession feels a little Biblical to me. It’s like the story of Joseph — seven years of feast, seven years of famine. It feels like we’re […]
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Blackstone’s CEO Stephen Schwarzman, who didn’t take a bonus this year, sounds pretty frustrated with the public market’s attitude to Blackstone’s stock.
A discussion about the firm’s dividend — it is eliminating the fourth quarter but thinks 2009 will be OK — turned into an exercise in thinking aloud tinged with annoyance.
COO Tony James explained succintly on […]
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Financial public relations firms, who elevated the honing of corporate messages to a highly profitable art form, are having to adapt their businesses and in some cases cut staff as the economic gloom intensifies.
With far fewer deals to publicize and lucrative “retainer” contracts under pressure, companies are cutting costs and are increasingly focusing on work […]
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Deal-making in the U.S. media and entertainment sectors is going to be down this year, says a new PricewaterhouseCoopers survey (request a copy here). Now, that’s not a new or startling conclusion given the state of the economy, but it’s just another piece of evidence that when consumers and advertisers get thrifty, deal makers can […]
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