Business News
« Previous EntriesOT: Wal-Mart’s Changing Its Logo
Saturday, June 28th, 2008From this:
To this:
Source: Wall Street Journal
According to the Wall Street Journal, the logo will be white letters on an orange background followed by a white sunburst. Another big change is that “Wal-Mart” will now be “Walmart”.
It’s definitely different. I suppose it does make Walmart look a little more up-to-date. Unfortunately, they still [...]
James Cayne: “We Ran Into a Hurricane.”
Friday, May 30th, 2008According to the Wall Street Journal that’s what Bear Stearns’ former CEO said during the final meeting as stockholders approved the sale of the company for $1.4 billion to JP Morgan.
To say such a thing would insinuate that what happened to Bear Stearns was out of management’s control. This is the typical BS we [...]
An Example of Deworsification: Blockbuster Buying Circuit City
Wednesday, April 23rd, 2008Okay, maybe the management at Blockbuster (BBI) knows something I don’t know but, I can’t understand why they would want to buy Circuit City. The article states that Blockbuster sees it as a strategic combination of retailers.
Circuit City has been struggling and Blockbuster is just now making headway on a turnaround. Call me [...]
Problems With Libor?
Wednesday, April 16th, 2008From today’s Wall Street Journal:
One of the most important barometers of the world’s financial health could be sending false signals.
In a development that has implications for borrowers everywhere, from Russian oil producers to homeowners in Detroit, bankers and traders are expressing concerns that the London inter-bank offered rate, known as Libor, is becoming unreliable.
The article [...]
Bank of America and Chevron Will Replace Altria and Honeywell in the Dow Jones Industrial Average
Monday, February 11th, 2008From this Wall Street Journal article ($):
Dow Jones & Co. announced that Bank of America Corp. and Chevron Corp. will replace Altria Group Inc. and Honeywell International Inc. in its benchmark Dow Jones Industrial Average effective Feb. 19.
The change is the first in four years and reflects the index’s continued shift away from industrial firms [...]
Another Trader Loses Lots of Money - $7 Billion to be Exact!
Thursday, January 24th, 2008How does this kind of stuff happen?
Société Générale, one of the largest banks in Europe, was thrown into turmoil Thursday after it revealed that a rogue employee had executed a series of “elaborate, fictitious transactions” that cost the company more than $7 billion, the biggest loss ever recorded in the financial industry by a single [...]
Did the Right Hand Know What the Left Hand Was Doing?
Tuesday, January 15th, 2008This comes to us from a very interesting article titled Trading in Deal Stocks Triggers Look at Banks ($), that was in yesterday’s Wall Street Journal:
In the spring of last year, two investment arms of J.P. Morgan Chase & Co. began accumulating shares in Rural Cellular Corp., a small Minnesota provider of mobile-phone service. The [...]
Countrywide’s CEO Will Walk Away With $110 Million
Friday, January 11th, 2008Countrywide (CFC) CEO, Angelo Mozillo, is going to walk away with a severance package of $110 million after the sale of his company to Bank of America (BAC) for $4 billion. At it’s peak in February 2007, Countrywide had a market value of nearly $26 billion.
Once again, a CEO gets a nice [...]
OUCH!
Tuesday, December 11th, 2007Here’s today’s chart for the Dow Jones Industrial Average:
I guess the market wanted a bigger cut in the discount rate .
How About a ‘Super 401(k)’?
Monday, December 10th, 2007I read an interesting Business Week article titled Redrawing the Route to Retirement, which is about Devon Energy’s ‘Super 401(k).’ The ‘Super 401(k)’ was set up to take the place of their traditional 401(k) and pension plan. Employees who sign up for the new plan and contribute 6% of their salary to the [...]
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