Bankers

What Does MSFT/YHOO Debacle Mean for Their Bankers?Ashkan Karbasfrooshan submits: Yahoo (YHOO) blew the deal, sure, and you have to wonder what that says for its bankers? Allen & Co. is trying to raise money for Linkedin at a whopping $1B valuation.  It's worth noting that Allen & Co. is encroaching more and more on West Coast startups - it raised $50M for Ning and Slide at monster $500M valuations.Complete Story » Link - Tue, 06 May 2008 01:31:06 GMT - Feed (1 subs) Sent using SendMeRss.com. Visit here to unsubscribe from "2-business" via X2 in Google. Recommended Feeds/Actions Subscribe DealMeRSS.com - Great Deals Delivered Every Day

With the huge amount of debt on airline balance sheets and rising fuel costs, the big carriers may have trouble meeting their debt service or loan covenants.... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

As most of you know the Prince is a fan of Jonathan Knee and his book Accidental Investment Banker.  Mssr. Knee wrote a really interesting article yesterday in the WSJ entitled "Must I Bank?".  Not sure many people saw it since it was buried in the paper. Here is an excerpt: "When the music of financial-services contraction stops, there will be a lot of investment bankers without seats. Merrill Lynch alone recently said it would lay off another 2,900 people, on top of the 1,100 jobs already eliminated this year. The total number of eliminated banking jobs is likely to dwarf the 90,000 over the two years following the Internet bust of 2000. For many of these bankers, getting fired could be the best thing that ever happened to them. Rainer Maria Rilke, in "L

Last night on Channel 4 News there was a chap from the Leek Building Society talking to Jon Snow. Snow is like Paxman. He can spot waffle and weasle words. The chap in question (didn't get his name) said he thought this injection of taxpayers' money was a "start". Jon Snow, asked him how much money was required. "If you're going to drop cash in the ocean, how much is needed?" The answer seemed less than satisfactory, but he did say one thing that I thought, well, that sums it all up.This money is to rebuild confidence. Apparently, it's all down to us, the suckers who feel we can't trust the banks. It's all our fault! We should be thinking more positively. House prices aren't falling, it's all a bad dream. But when this money finally comes across from the sticky fingers of Mervyn King and h

Commercial banks have been criticizing the Viet Nam Banking Association (VNBA) for imposing the illogical ceiling interest rate on them, causing the capital supply tension. The bankers said that VNBA’s insisting on the ceiling interest rate scheme shows that the association does not stand for banks’ interests. They all believe that the 11% ceiling interest rate agreed by VNBA and 12% ceiling

NEW YORK - LEHMAN Brothers Holdings Chief Executive Richard Fuld joined a growing chorus of investment bank executives in saying on Tuesday that the worst of the credit crisis is behind Wall Street. Mr Fuld, speaking at the investment bank's annual shareholder meeting, said that credit markets have begun to ease but still believes the environment 'will remain challenging.' Steep losses tied to mortgage-backed securities has cost the world's biggest banks and brokerage about US$200 billion (S$271 billion) since last year. Similar comments came last week from two other investment bank CEOs - Goldman Sachs Group's Lloyd Blankfein and Morgan Stanley's John Mack. Both said during shareholder meetings that Wall Street is closer to the end of the crisis, and that it might last a few more quart

Bankers Box 6100301 Bankers box 8-compartment literature sorter, 19-1/2w x 12-3/8d x 10-1/4h (Office Product)By Bankers Box Buy new: $25.98$18.9916 used and new from $12.86 Customer Rating: First tagged “scrapbooking” by Jacquie “posh organizer” [...]

Today we hear in the news that the government has lowered the interest rate to 5%. But before anyone gets all excited, we need to think about what happened the last time they lowered the interest rate. The bank lowered their interest rates, on their saving accounts but because of the so called credit crunch a lot of them didn't lower it on their lending side.So, while those feeling the money pressures at the moment might think, "Oh goody, 5%," you're more likely to lose out in any saving account you have and not make it back in the loan or mortgage.I remember, as a kid, we all used to like banks. They were nice people. You opened an account and you got a free pencil case or a pig or something. They were nice as pie back then. But now they have become the villains of the piece.Some of

Financial Mirror Group of Seven finance chiefs will hold discussions with around 10 private sector bankers at a meeting this week to help shape their response to the global credit crisis, a Japanese finance ministry official said on Wednesday. Central bankers and finance ministers of the world's biggest industrial economies meet on Friday, with pressure growing for a common response to the crisis that has roiled markets, battered banks and put the skids under global economic growth. "Uncertainty in the markets remains very strong as a whole," the ministry of finance official said in a pre-G7 briefing. "In such conditions, the focus of discussions will likely be what steps should be taken to ease risks (for the markets)," he told reporters. The official, speaking on conditi

It’s not just the millions of families across America who are coming to terms with a tougher financing environment for home loans. The Mortgage Bankers Association is scheduled to close on a 160,000-square foot workspace valued at about $100 million in the coming weeks, but the terms associated with the deal are expected to be much [...]

Today CNNMoney profiles an out of work mortgage banker who has been sending out 10 resumes a day since he was laid off in Feburary. He just got his first interview. This week, things are are looking up. Hager, a Jersey City, N.J., resident, went on one interview for a fraud investigator job at a mortgage [...]

The Reserve Bank proposes to make it mandatory for banks to give loan defaulters one last opportunity to repay before taking possession of the mortgaged property. In its second draft guidelines on recovery agents released today, RBI said the re-possession procedures should follow the “letter and spirit” of the Indian Contract Act and must provide borrowers [...]

There is something worse than bankruptcy. And, it can happen to you without you even knowing. As far as you know, you haven’t done anything wrong, but the next time you need to open up a checking account you’re declined. You protest, your credit is good. You have a personal and a business checking account [...]

Can we talk Real Estate? Specifically, I'd like to talk to you, Bankers.Now, I realize that you have lost money. I also realize that you have cut back on personnel. But it's time to really concentrate on your bottom line. You, Bank are in the business of making money, not owning houses. Houses cost you money. The longer you own the house, the more money it costs you.I have a solution. Instead of ignoring Short Sales like you've been doing. I suggest that you start accepting offers on Short Sales. That way, you won't have the expense of a foreclosure.Ok, I know, there is no tax write off with a short sale but hey what's your bottom line? Do you really think you are money ahead by having a house as an REO for 150 days? Please...give me a break.You need to hire more m

Can we talk Real Estate? Specifically, I’d like to talk to you, Bankers. Now, I realize that you have lost money. I also realize that you have cut back on personnel. But it’s time to really concentrate on your bottom line. You, Bank are in the business of making money, not owning houses. Houses cost you money. The [...]

I would imagine any one who has anything to do with the Carlyle Group might have a few restless nights in the future. Having missed four out of seven recent margin calls, expecting to miss another one soon, things do not exactly look ...

Last year, investment banking revenue across Asia soared. Specifically, the North Asia fee pool increased 26%, to $3.8 billion, according to Dow Jones citing data from Dealogic. Executive search firm, AE Feldman says the trend is ...

One of the news stories on our intranet has a highly ambiguous headline:Diligent Bankers' present in BudapestBefore you read on, I invite you to guess the main thrust of the story using only the headline as guidance. If it helps (which it doesn't), the headline was accompanied by a picture of a smiling woman.Ready? OK, here are my own wrong guesses and then the correct answer:At first I thought the headline might be referring to a gift given to or by a group of bankers. But why are they diligent? And why do they deserve a capped-up 'B'? Perhaps there is an organisation called 'Diligent Bankers'...My second interpretation was that the same group of bankers (or organisation) is simply present in Budapest, for some unknown reason. And of course, that would fail to explain the apostrophe.Only

The amount of investments in the project will approximately make up 130 million pounds ($260 million). This is quite enough to construct a 200 apartment residential complex with the area of 50 to 100 thousand square meters. Hammersmith is known as a district of business-class residences. The most popular apartments in Hammersmith are sold at 340 thousand pounds, while the average price on a one–bedroom apartment is 450 thousand pounds.

In a post not long ago I mentioned that New York was poised to approve the sale of indexed universal life, a form of universal life that uses market indexes to determine actual cash value above the guarantee. Well, they’re off to the races. I ran a spreadsheet for both indexed universal life and second to die indexed universal life today and New York is on the map and Bankers Life of New York, part of the Aviva Group, is leading the way. I’ve got to tell you that what I like most about the indexed universal life products, unlike variable universal life, is that they have a pretty nice potential upside in cash value, and the guarantees are great and there really is no downside as long as you pay the guaranteed level planned premium. Since all of my sales are based solidly on guarantees, my clients get the best of both worlds with this type of product. I will, as I have all along, sell the guarantees and leave the assumptions alone. Maybe someone will make money there, but I

The Federal Reserve today announced a new scheme to inject more liquidity into the money markets. It cobbled together a partnership arrangement: the Canadian, UK and European central banks also agreed to participate in the scheme.The process of 'injecting liquidity' is a euphemistic way of saying 'creating money out of thin air.' The Federal Reserve doesn't need a printing press to do this. They simply create a book entry on its balance sheet, and presto, $40 billion (or whatever amount they deem appropriate) of new "money' is created, which the Fed then lends to those bankers coming to it hat in hand. Creating money this way is a barbaric process because it further debases currencies, but is hailed by the banking insiders and their apologists as a brilliant maneuver to fight the worsening liquidity crunch. Of course it is a view of those with vested interests, and bluntly, is just their selling pitch to the masses. It is a view so horribly misguided these insiders obviously

Florence then dominated Europe with her bankers, from Flanders to Constantinople. Genoa and Venice were the queens of all the known seas; it was then were upreared to Heaven in every Italian city cathedrals and bell-towers that still remain the marvel of the world; our religious enthusiasm then gave St, Francis of Assisi to Christianity; Italian poetry at a leap had overwhelmed the Provençal; Guido Guinizelli and Guido Cavalcanti had proved it . . . But all that counted nothing for Dante. He saw but one thing: that the political unity of Christian society was broken; that the Roman Emperor lived beyond the Alps and that Italy had ceased to be "il giardin dell'Impero", the garden of the Empire. And as he thought so did others, less lofty in spirit but equally sincere. Giovanni Villani living in the luminous life of Florence only knew that one must "greatly fear the judgement of God". Another Villani saw nothing about him but "grave dangers and destruction", and the anonymous chronicle

I’ve seen lots of explanations of what investment bankers actually do, but none have seemed particularly good or satisfactory. I think I can sum up what we actually do in 2 words (ok, and 1 picture): Ari Gold. If you haven’t seen Entourage (shame on you, but I guess that’s possible), an alternate explanation will be offered at the end of this post. Investment bankers are agents, just like Ari. We don’t create anything and we don’t buy anything; we just sell things that aren’t ours to begin with. And we make a lot of money doing that, thank you very much. If the business world were like Entourage, bankers would be the agents, private equity firms and large companies would be the studios, and companies would be the actors and movies. Private equity firms buy and sell companies. Studios buy and sell actors and movies. Bankers make introductions and try to sell things. Agents make introductions and sell their clients. Vince Chase would be Faceboo

AP Bank is a nonprofit financial organization (NPO) that lends money at low interests for various environmental projects such as a natural energy research, eco-constructions, etc. Because it is not a one time charity, the activities can keep on going into the future. This bank was launched in 2003 by three stars of Japan's pop-music industry and is garnering attention for the contribution it is making to tackle environmental problems. Are you listening Bono?

The motion has been made and seconded that we stick our heads in the sand ->Citigroup's Prince Plans To Resignby WSJ - 11/2/07 snip:Charles Prince, the beleaguered chief executive of Citigroup Inc., is planning to resign at a board meeting on Sunday, according to people familiar with the situation. The move caps a four-year tenure as CEO for Mr. Prince, a longtime lawyer who took over the reins from Sanford Weill, who built Citigroup into a financial colossus...LI foreclosure rate climbs by double digitsby NY Newsday - 11/2/07 snip:The rate of foreclosure filings in Nassau and Suffolk counties rose by double digits in the third quarter, according to a report issued yesterday. Nassau saw 1,241 foreclosure filings from July to September, an increase of 27.4 percent from the previous three months, according to RealtyTrac, an online marketplace for foreclosure properties. Suffolk, meanwhile, had 1,080 foreclosure notices, up 14.4 percent from the prior quarter. RealtyTrac's numbers are

The 'Mio School of Lingerie for Men' helps guys who suffer from that most tragic and debilitating condition, 'buy a sexy present for your girlfrienditus'. This tragic and deeply distressing phobia affects many, many men and most cruelly their other half often suffers in silence as a result.The condition, only recently recognised by the medical...read more | digg story

According to Bloomberg, when investment bankers look into their Christmas stockings, all they will... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Getting ready for the conference call: Step one: Prepare a four by four square, randomly filling each cell with one of the below phrases / words. synergy accretive pitch bottom line revisit double check margin expansion 24/7 scrubbed benchmarking value-added aggressive premium impressive growth market leverage Step two: Tick off each block when one of the phrases is mentioned Step three: When

The mortgage crisis is threatening Russia, said Igor Kuzin, board chairman of DeltaCredit Mortgage Bank. The crisis will be similar to the one that hit the United States, and it will be caused by risky loans that the banks are giving in big numbers.

The Consumer Bankers Association today released a document to clarify and reaffirm banks’ dedication to their student loan customers. The publication of CBA’s Education Loan Customer Commitment is intended to reinforce that bank lenders operate at the highest level of ethical standards as well as under longstanding federal regulations. The commitment addresses key areas of public concern and was announced by CBA President Joe Belew. CBA is the recognized voice on retail banking issues in the nation’s capital. “Students, their families, and the educational institutions are our highest priority,” said Belew. “We understand that seeking funding for higher education and planning for the financial future can be a challenge. By publicizing our commitment to our customers, we are seeking to continue the well-earned public trust in the lenders that participate in the Federal Family Education Loan program, a trust that has prevailed for over four decades.&rdq

No comment needed. Just walk to the closest HMV or Virgin Megastore and buy your copy. What? Surely you mean, just drop that excel spreadsheet, log onto amazon dot com and order your copy. What a silly thought, going out of the office in broad daylight!

Indonesia believes the bankers took part in an astounding heist of more than US$13.5 billion looted from the Indonesian central bank’s recapitalization lifeline to 48 ailing banks. According to Indonesian authorities, the recipient banks, many owned by cronies and relatives of the ousted strongman Suharto, used much of the money for currency speculation, loans to affiliated business groups and repayment of subordinated loans and securities transactions instead of guaranteeing creditors’ deposits.But more than that, an astounding 18,000 Indonesians considered to be worth more than US$1 million are living in Singapore, population 4.5 million, with an aggregate wealth of US$87 billion, according to a 2006 study, the “Asia-Pacific Wealth Report” by Merrill Lynch and the consulting company Capgemini. Indonesia, with a population of 180 million, has only 17,000 millionaires itself.The city-state has always been a bolt-hole for Indonesian tycoons, many of them Chinese, a step ahead of

New York, NY, March 31, 2007 --(PR.com)-- California Bankers Association (CBA), the largest banking trade association, has published “A Call to Arms to Protect Our Seniors” by Dr. Linda Eagle, president of The Edcomm Group.The Edcomm Group partnered with CBA in September 2006 in an effort to combat elder financial abuse and deliver training to banks in California. California is at the forefront of protecting its elderly customers and has played a large role in elevating elder financial abuse to a national issue.With more than 5 million cases per year, elder financial abuse is the number one crime committed against persons age 65 and older.Elder financial abuse is defined as the illegal taking, misuse or concealment of funds, property or assets of elders, through trickery, intimidation or force, or without consent. Elder financial abuse can involve anything from a telemarketer's solicitation on behalf of a fake charity to a family member's misuse of power of attorney. The Edcomm G

So a few days ago I closed my bank account. I never went into detail, but it was a bizarre experience. After waiting in the ‘Customer Service - We Care’ line for fifteen minutes, I get some old bird to serve me who’s squinting at the computer in a fantastically bogan accent screaming; “Why do all computers hate me?! I swear they’re out to get me!” Awesome. I got the fruit of the group. After she finally gets to me, she has a beaming smile which drops as soon as I tell her; “I’m here to close my account” “Oh. Can I ask whyyyyyy?” “Another bank…” “Oh. Can I ask whyyyyyy?” (she’s about to cry) “Business, my father.. Just.. I don’t know” “Oh. Could I have done anything better for you?” (Jesus woman just close it) “No.. it’s just.. I just want to close it” “Oh. OK! Well thats done.. Have a nice day!” (beaming smile again….)

As i mentioned in the previous post - way too early in the game for any type of special help for the Wall Street bulls. (Click Here To Read). Keep an eye on Fed Funds futures in the weeks ahead. If problems in real estate intensify to the point of major spillover into other areas of the credit markets, then IMO May won't be too soon for some sort of Fed action, but even that may still be a long shot given on going FED inflation concerns unless things get extraordinarily dicey. "Dicey".. now there's a great economic term, I believe an Adam Smith favorite.

President Bush Meets with Small Business Owners and Community Bankers, Urban Trust Bank, Washington, D.C. 2:01 P.M. EDT. FULL STREAMING VIDEO In Focus: Jobs & Economy President George W. Bush is welcomed by Bob Johnson, founder and chairman of the RLJ Companies, to the Urban Trust Bank for a discussion on the economy with small business ownersand community bankers, Monday, Oct. 23, 2006 in

Denial is a ubiquitous psychological defense mechanism. It involves the repression of bad news, unpleasant information, and anxiety-inducing experiences. Judging by the German press, the country is in a state of denial regarding the waning health of its economy and the dwindling fortunes of its financial system. Commerzbank, Germany's fourth largest lender, saw its shares decimated by more than