ARS Buybacks Ignite Battle
August 19, 2008 by Joseph McCafferty
The gloves are off as Wall Street firms that have agreed to buy back auction-rate securities battle those firms who have not.
August 19, 2008 by Joseph McCafferty
The gloves are off as Wall Street firms that have agreed to buy back auction-rate securities battle those firms who have not.
Firms Seeking Auction-Rate Deals
August 14, 2008 by Joseph McCafferty
JP Morgan Chase and Morgan Stanley are close to buying back auction-rate debt from clients. The move would settle their case with government regulators.
August 14, 2008 by Joseph McCafferty
JP Morgan Chase and Morgan Stanley are close to buying back auction-rate debt from clients. The move would settle their case with government regulators.
Citigroup Working to Avert Charges
August 7, 2008 by Joseph McCafferty
Citigroup is in negotiations with state and federal regulators to resolve allegations of wrongdoing in the auction-rate-securities market. Ultimately, Citigroup could buy back several billion dollars of illiquid securities from investors and pay a significant fine.
August 7, 2008 by Joseph McCafferty
Citigroup is in negotiations with state and federal regulators to resolve allegations of wrongdoing in the auction-rate-securities market. Ultimately, Citigroup could buy back several billion dollars of illiquid securities from investors and pay a significant fine.
SEC Extending Short-Selling Rules
July 30, 2008 by Joseph McCafferty
The Securities and Exchange Commission will be extending the temporary rules it placed to restrict short selling of certain financial stocks.
July 30, 2008 by Joseph McCafferty
The Securities and Exchange Commission will be extending the temporary rules it placed to restrict short selling of certain financial stocks.
SEC Imposes ‘Emergency Order’ on Shorts
July 16, 2008 by Joseph McCafferty
The Securities and Exchange Commission took a rare step to police trading by short sellers by issuing what it called an 'emergency order' to limit short selling of 19 banking and Wall Street stocks during the crucial earnings period.
July 16, 2008 by Joseph McCafferty
The Securities and Exchange Commission took a rare step to police trading by short sellers by issuing what it called an 'emergency order' to limit short selling of 19 banking and Wall Street stocks during the crucial earnings period.
BATS Plans Nov. Opener in Europe
July 15, 2008 by Joseph McCafferty
BATS,Europe,European Commission,Turquoise,
July 15, 2008 by Joseph McCafferty
BATS,Europe,European Commission,Turquoise,
Bud Board to Go It Alone
June 20, 2008 by Joseph McCafferty
The independent board members of Anheuser-Busch, which is currently weighing a $46 billion offer from InBev, has decided not to hire its own advisers. The move goes along with the concerns of current advisers that another set of deal consultants could split the board.
June 20, 2008 by Joseph McCafferty
The independent board members of Anheuser-Busch, which is currently weighing a $46 billion offer from InBev, has decided not to hire its own advisers. The move goes along with the concerns of current advisers that another set of deal consultants could split the board.
Board Appointments at Perry Ellis, Sapient, and More
June 18, 2008 by Joseph McCafferty
Former CFO of Allied Deals, Anil Anand, was sentenced to seven months of time already served in prison.
June 18, 2008 by Joseph McCafferty
Former CFO of Allied Deals, Anil Anand, was sentenced to seven months of time already served in prison.
Layoffs Beset Wall Street
May 28, 2008 by Joseph McCafferty
The next phase of the crisis on Wall Street has begun: mass layoffs. Investment banks such as Citigroup, Lehman, and JPMorgan are cutting the ranks of executives.
May 28, 2008 by Joseph McCafferty
The next phase of the crisis on Wall Street has begun: mass layoffs. Investment banks such as Citigroup, Lehman, and JPMorgan are cutting the ranks of executives.
New Gripes Aired this Proxy Season
April 18, 2008 by Joseph McCafferty
Shareholders introduced new proposals for the 2008 proxy season. The mortgage meltdown, succession planning, and the safety of imported products were brought up for proposals.
April 18, 2008 by Joseph McCafferty
Shareholders introduced new proposals for the 2008 proxy season. The mortgage meltdown, succession planning, and the safety of imported products were brought up for proposals.
Sovereign Wealth Funds Invest in Merrill, Citi
January 15, 2008 by Joseph McCafferty
Foreign funds continue to pour into Wall Street’s big banks. Merrill Lynch said it is issuing $6.6 billion in convertible, preferred stock to Korean Investment Corp., Kuwait Investment Authority, and Mizuho Corporate Bank of Japan.
January 15, 2008 by Joseph McCafferty
Foreign funds continue to pour into Wall Street’s big banks. Merrill Lynch said it is issuing $6.6 billion in convertible, preferred stock to Korean Investment Corp., Kuwait Investment Authority, and Mizuho Corporate Bank of Japan.
Citigroup, Merrill Seek More Foreign Capital
January 10, 2008 by Joseph McCafferty
Citigroup and Merrill Lynch, two companies that just named new chief executives amid financial slides due to troubles in the U.S. housing market, recently raised billions of dollars from outside investors. Now, according to various news reports, they are in discussions to get additional infusions of capital from investors, primarily foreign governments.
January 10, 2008 by Joseph McCafferty
Citigroup and Merrill Lynch, two companies that just named new chief executives amid financial slides due to troubles in the U.S. housing market, recently raised billions of dollars from outside investors. Now, according to various news reports, they are in discussions to get additional infusions of capital from investors, primarily foreign governments.
Will Bear Stearns’ Cayne, who resigned as CEO, Stay as Non-Exec Chair?
January 8, 2008 by Joseph McCafferty
Jimmy Cayne has told the board of Bear Stearns that he plans to step down as chief executive of the Wall Street bank, which has suffered heavy losses in the credit market turmoil.
January 8, 2008 by Joseph McCafferty
Jimmy Cayne has told the board of Bear Stearns that he plans to step down as chief executive of the Wall Street bank, which has suffered heavy losses in the credit market turmoil.
Merrill Sells Lending Unit to GE
December 26, 2007 by Joseph McCafferty
Merrill Lynch buffeted by huge write-downs of mortgage-related securities, said Monday it would sell most of its middle-market lending business to General Electric Co's commercial finance arm in a deal to free up capital.
December 26, 2007 by Joseph McCafferty
Merrill Lynch buffeted by huge write-downs of mortgage-related securities, said Monday it would sell most of its middle-market lending business to General Electric Co's commercial finance arm in a deal to free up capital.
NYSE Euronext Names Deputy to Acting CFO
December 4, 2007 by Joseph McCafferty
NYSE Euronext CEO Duncan L. Niederauer has asked Joost van der Does de Willebois, deputy CFO and head of the company’s Amsterdam market, to assume the role of acting chief financial officer. He will replace CFO and Executive Vice President Nelson Chai, who is leaving to become CFO and EVP of Merrill Lynch.
December 4, 2007 by Joseph McCafferty
NYSE Euronext CEO Duncan L. Niederauer has asked Joost van der Does de Willebois, deputy CFO and head of the company’s Amsterdam market, to assume the role of acting chief financial officer. He will replace CFO and Executive Vice President Nelson Chai, who is leaving to become CFO and EVP of Merrill Lynch.
O’Neal’s Exit Package Stirs Reaction: Senate May Revisit Say on Pay
December 1, 2007 by Joseph Hinsey
The retirement of former Merrill Lynch Chairman and CEO Stanley O’Neal added some fuel to the fiery debate over CEO compensation, and the public’s perception of the disconnection between pay and performance.
December 1, 2007 by Joseph Hinsey
The retirement of former Merrill Lynch Chairman and CEO Stanley O’Neal added some fuel to the fiery debate over CEO compensation, and the public’s perception of the disconnection between pay and performance.
Citigroup Left with Handful of Candidates for Top Spot
November 20, 2007 by Joseph McCafferty
Now that Merrill Lynch has chosen John Thain to succeed retired Chairman and CEO Stanley O’Neal, Citigroup has lost out on one of its top candidates to replace its own CEO, Charles O. Prince III.
November 20, 2007 by Joseph McCafferty
Now that Merrill Lynch has chosen John Thain to succeed retired Chairman and CEO Stanley O’Neal, Citigroup has lost out on one of its top candidates to replace its own CEO, Charles O. Prince III.
Merrill to Give Thain $15 Million Bonus
November 19, 2007 by Joseph McCafferty
Merrill Lynch has agreed to grant incoming Chairman and CEO John Thain a cash bonus of $15 million for the fiscal year 2007.
November 19, 2007 by Joseph McCafferty
Merrill Lynch has agreed to grant incoming Chairman and CEO John Thain a cash bonus of $15 million for the fiscal year 2007.
Merrill Names Thain to Succeed O’Neal
November 15, 2007 by Joseph McCafferty
Merrill Lynch today announced that former President and COO of Goldman Sachs John Thain has been named chairman and CEO of the company, effective December 1.
November 15, 2007 by Joseph McCafferty
Merrill Lynch today announced that former President and COO of Goldman Sachs John Thain has been named chairman and CEO of the company, effective December 1.
As Executive Pool Thins, Big Firms Scramble to Fill Top Jobs
November 5, 2007 by Joseph McCafferty
Credit turmoil has claimed two scalps on Wall Street in a week -- and exposed the shortage of talent for the biggest jobs in finance.
November 5, 2007 by Joseph McCafferty
Credit turmoil has claimed two scalps on Wall Street in a week -- and exposed the shortage of talent for the biggest jobs in finance.