A company in the U.S. auto industry fails — and the government steps in as savior. Yet again. That’s right. Santa visits the automakers this year while the Grinch steals taxpayers’ Christmas.
The Bush administration is buying $5 billion in equity in GMAC – the finance arm owned by GM and Cerberus Capital Management. The Treasury has also […]
Posted on January 7th, 2009 by
Filed under: options news, stock news | No Comments »
American Greetings evidently found the perfect way to smoothe over a tiff.
Recycled Paper Greetings agreed to be bought by the second-largest U.S. greeting card maker, which was attracted to the smaller rival’s “witty, funny and fresh content.”
The agreement comes after a spat in September, when American Greetings said on an earnings conference call that it […]
Posted on January 7th, 2009 by
Filed under: options news, stock news | No Comments »
It doesn’t look like 2009 is going to be a happy new year for the chemicals sector.
LyondellBasell Industries, the world’s third-largest independent chemicals company, has told lenders it is considering filing for bankruptcy protection amid plunging sales and a cash crunch, the Wall Street Journal said, citing people familiar with the matter.
The company is one […]
Posted on January 7th, 2009 by
Filed under: options news, stock news | No Comments »
The cultured Irish classic Waterford Wedgwood is to be boxed up and sold for scrap. Hardly as stunning as its stock symbol (WTF) would imply, the decision to call in receivers is not expected to tempt any last-minute beaus for the debt-laden china and crystal maker. Consumers are looking to dress their tables with lower-priced […]
Posted on January 7th, 2009 by
Filed under: options news, stock news | No Comments »
Having largely held off from picking up cheap financial services assets last year, private equity firms will boost their buying as low valuations make assets in the sector too attractive to pass up, a new report predicts.
The increased interest will come as these firms look for ways to use funds raised in the last two […]
Posted on January 7th, 2009 by
Filed under: options news, stock news | No Comments »
Former AIG strongman Hank Greenberg is keeping up his steady stream of bull-horn bravado against what he says are fire sales at his old firm, of which he still owns 10 percent. But is anybody listening? The bailout bill shot from $80 billion to $150 billion in just a couple of months. Greenberg’s latest complaint, […]
Posted on January 7th, 2009 by
Filed under: options news, stock news | No Comments »
2008 had the largest number of cancelled deals ever, and the year isn’t even over yet.
Kuwait’s decision to pull out of a $17.4 billion petrochemical joint venture with Dow Chemical could hinder the chemical company’s plans to buy rival Rohm & Haas.
The company had planned to use the proceeds from the JV to repay a […]
Posted on January 7th, 2009 by
Filed under: options news, stock news | No Comments »
Kuwait’s decision to walk away from a $17.4 billion joint venture with Dow Chemical could hurt the prospects for the company’s $15.3 billion takeover of Rohm & Haas. But there could be other losers, too.
According to Thomson Reuters, Citigroup and Merrill Lynch advised Dow on the Kuwaiti deal and could lose some fees now that it […]
Posted on January 7th, 2009 by
Filed under: options news, stock news | No Comments »
