September 14 - September 20, 2008
Tuesday, Sep. 16
I's not a great time to be taking a few days off, but hey, it's not as if I can do anything about the collapse of the financial markets. $MTEntryExcerpt$>
If AIG gets done in today or tomorrow, it will be because of the company’s dangerous exposure to the credit defaults swaps market. $MTEntryExcerpt$>
The effort to prop up the massive insurance company through help from JP Morgan and Goldman Sachs seems to be dead. $MTEntryExcerpt$>
In case you haven't seen this, here's a little levity to break up the tension. P.S. The two guys are... $MTEntryExcerpt$>
More than $7 million isn’t chump change for Bruce Karatz – but it’s not exactly breaking his bank either. $MTEntryExcerpt$>
The Dow is down by more than 100 points in the early minutes of trading. Asian markets were battered. $MTEntryExcerpt$>
Monday, Sep. 15
Clearly, it still hasn't sunk in for many of the investment bank employees. Bottles of alcohol popped up on the trading floor around noon.
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As pump prices skyrocket in Chicago, Cleveland and Houston, L.A. showed a 7-cent-a-gallon decline from last week..
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Here's a sampler of local stocks (prices may not be final, but you'll get the idea). Amgen -1.1% Cheesecake Factory... $MTEntryExcerpt$>
The last hour was a doozy, especially for financial issues. After today's 4.4 percent drop, the Dow is under 11,000.... $MTEntryExcerpt$>
It's way too soon to talk layoffs and other cost efficiencies in the L.A. area. But make no mistake: They're coming. $MTEntryExcerpt$>
The Dow is down about 320 points, which is near its lows for the day. The good news is that investors didn't panic. $MTEntryExcerpt$>
Generally well-regarded - even in the final days before the government takeover - CEO Michael Perry is given only mixed reviews.
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Lots of mixed signals on what insurance giant AIG intends to do with 21st Century Insurance and International Lease Finance. $MTEntryExcerpt$>
The struggling L.A.-based music service is being bought for about $121 million. $MTEntryExcerpt$>
That's a $5-a-barrel drop from just last week because of falling demand - as well as early indications that Hurricane... $MTEntryExcerpt$>
We'll be updating throughout the morning. 10:49: During a White House press briefing, Treasury Secretary Hank Paulson says "Our banking... $MTEntryExcerpt$>
You're looking at a few hundred points on the Dow, which is bad but not a disaster. The big question... $MTEntryExcerpt$>
Sunday, Sep. 14
Bank of America will be buying the 94-year-old inventment bank for about $44 billion. $MTEntryExcerpt$>
With Lehman Brothers likely to go into bankruptcy, Wall Street is preparing for a very rocky trading day. $MTEntryExcerpt$>
NYT provides the first of what will likely be many scene-setters on Wall Street's weekend of fear. You really have... $MTEntryExcerpt$>
It'll be the largest failure of an investment bank since the collapse of Drexel Burnham Lambert 18 years ago.
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The move is seen as an effort to shore up what many consider the next likely investment bank victim if Lehman were to go under. $MTEntryExcerpt$>
Barclays, which had emerged as the leading contender to buy all or part of the investment bank, says it couldn't reach a deal. $MTEntryExcerpt$>
OC investors George Argyros and Larry Higby are in preliminary discussions about buying the Register, according to a report. $MTEntryExcerpt$>
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