April 2009
Martha Stewart Signs Hefty Contract Renewal with Martha Stewart Living Omnimedia Inc.
Martha Stewart Living Omnimedia Inc will pay the lifestyle guru, Martha Stewart, $2 million “for her services as a performer, for making public appearances, and as an author and provider of content” under a new employment agreement effectiv...
American International Group plans sale of U.S. auto business, 21st Century Insurance, to Zurich Financial Services
US taxpayer-bailed out insurance giant American International Group Inc. (AIG) is in advanced talks to sell its US personal lines insurance business, 21st Century Insurance, to Zurich Financial Services for about $2bn. Selling the unit, which includes ...
General Growth Properties Seeks Chapter 11 Bankruptcy
GENERAL GROWTH PROPERTIES, INC. (“GGP”), the second-largest U.S. shopping-mall owner, today announced that it is voluntarily seeking relief to reduce and restructure its debts under chapter 11 of the United States Bankruptcy Code in the United Stat...
Chrysler LLC Lenders Plan Debt Offer
Chrysler LLC’s lenders are planning to make a counteroffer this week to the U.S. Treasury, which originally asked creditors owed about $6.9 billion to accept $1 billion to keep the auto maker from liquidating. Late Sunday night, the lenders recei...
Citigroup likely to sell Nikko Citigroup with Nikko Cordial Securities and Nikko Asset Management Co.
Citigroup Inc. of the United States intends to add Nikko Citigroup Ltd. to its plan to sell Nikko Cordial Securities Inc., Japan’s third-largest brokerage and Nikko Asset Management Co. in Japan. Citigroup has proposed selling the three Nikko fir...
Express Scripts Agrees to Acquire Wellpoint's NextRx PBM Unit
Express Scripts Inc. plans to purchase Wellpoint Inc.’s pharmacy benefits management subsidiaries for $4.68 billion, the companies announced Monday. Express Scripts Announces Definitive Agreement to Acquire WellPoint NextRx Subsidiaries for $4.67...
What is Goldman Sachs GS Vintage Fund V?
US investment giant Goldman Sachs Group Inc has raised $5.5bn (£3.72bn) of investor commitments for a new fund that will buy private equity investments on the secondary market, wsj reported. The Journal said the new fund, called GS Vintage Fund V, wou...
GE Invests in Car-battery maker A123 Systems Inc
Car-battery maker A123 Systems Inc, world’s leading suppliers of high-power lithium ion batteries, is expected to announce Monday that it has raised $69 million as part of its most recent capital campaign, and that primary backer General Electric...
Steve Jobs back on top, Is he really in charge?
Although STEVE Jobs been on medical leave since January, the CEO of Apple Inc. (AAPL) is still in charge of key parts of the company, which he runs from his home. For example, Apple will release a new version of the iPhone operating system this June, a...
Motorola ex-CFO Paul Liska says fired for doubting forecasts
Former chief financial officer (CFO) Paul Liska sued Motorola Inc. in county court in Chicago on Feb. 20, a day after he was fired. Schaumburg-based Motorola filed its own response to Liska’s lawsuit in late March. Liska claims his dismissal was ...
Bristol-Myers eyes major acquisitions says James Cornelius!
With $9 billion in cash in hand, New York drug maker Bristol-Myers Squibb Co. is looking to do six or seven additional partnerships or acquisitions Chief Executive James Cornelius said. “There’s no urgency to put a ‘for sale’ si...
Taiwan firm Elan Microelectronics hits Apple with multitouch patent lawsuit!
Apple Inc. (AAPL) is being sued once again for patent infringement. This time law suit is being pursued by Elan Microelectronics, a Taiwanese integrated circuit design firm in U.S. District Court in San Francisco. Elan Microelectronics has apparently...
Pulte Homes and Centex Corporation Merge in $1.3 Billion Deal!
Pulte Homes, Inc. said it’s buying rival builder Centex Corporation in a deal creating the country’s biggest home builder. Terms call for Centex holders to get 0.975 Pulte shares for each share they own, valuing Centex at $10.50 a share, a ...
Sun Microsystems-IBM fallout: What happens next?
This isn’t a good thing for Sun Microsystems Inc., its Shares fell nearly 23 percent (closed at $6.56, down $1.93.) Monday on news that IBM had withdrawn its $7 billion acquisition offer, and Sun is now vulnerable to shareholder lawsuits or chang...
March 2009
Home Depot CEO Frank Blake takes higher pay, but foregoes bonus!
That is a good raise he got. I hope revenue was up last year. HaHaHa, all window dressing. This year he refuses the bonus. Next year the board gives him double or triple bonus for “honorable” duty in a crisis. The Home Depot Inc., whose pro...
Wal-Mart to award $2 billion to U.S. hourly employees says CEO Michael T. Duke
Wal-Mart Stores Inc is giving approximately $2 billion to its U.S. hourly employees through financial incentives, including handing out $933.6 million in, after the world’s largest retailer gained market share amid a recession. In a memo distribu...
Cisco Announces Intent to Acquire Pure Digital Technologies, Makers of Flip VideoTM
Cisco to buy maker of Flip Video for $590 millionn Jonathan Kaplan joins Cisco Systems Inc. Networking Leader Adds Popular Flip Flip Videoto Consumer Portfolio Networking gear maker Cisco Systems Inc. said it will pay $590 million to acquire privately ...
Again: IBM Tech's Cash King in talks to buy Sun Microsystems
The company IBM is currently negotiating a deal in which it will buy Sun Microsystems for the hefty sum of US$7 billion. The deal will be a very important one, and according to The NY Times could result in an anti-trust challenge. IBM Corp. is in talks...
Legg money manager Bruce Sherman to retire from Private Capital
Private Capital Management co-founder Bruce Sherman, whose bad bets on the media industry led to pressures on his firm’s parent, Legg Mason Inc (LM.N), is retiring at the end of the month, the Wall Street Journal said. Bruce Sherman made prescien...
American Axle & Manufacturing Holdings Inc's Future, what about others?
American Axle & Manufacturing Holdings Inc said in a regulatory filing today that it may violate the terms of its loan agreements as the future of its primary customers are still in question. General Motors Corp. and Chrysler LLC are American Axle...
February 2009
Citigroup Inc. reaches aid deal with US government to increase stake.
Another day, another bailout! I feel like I’ve seen this movie before. I suppose until ownership goes over 50% they can claim it is still private but it’s the thin end of the wedge and nationalization is inevitable. Presumably this also dil...
January 2009
Layoffs hits U.S. economy: Spread to More Sectors of the Economy!
On Jan. 26, U.S. companies slashed nearly 60,000 jobs new layoffs were announced at companies as varied as telecom giant Sprint Nextel, construction equipment maker Caterpillar, semiconductor manufacturer Texas Instruments, and pharmaceutical house Pfi...
Circuit City negotiations continue; Golden Gate Capital, Pliego and Hilco Merchant Resources eyes
It seemes Circuit City has failed simply because of bad management and the decisions they made over the years. Just want to make a comment to circuit2. It has good people who work there, poor management and horrible leadership. I do think the some peop...
What is Morgan Stanley Smith Barney? Morgan buys controlling interest in Smith Barney brokerage unit of Citigroup Inc.
After days of speculation, Citigroup Inc. the nation’s third-largest bank by assets, after Bank of America and JPMorgan Chase & Co and Morgan Stanley unveiled plans Tuesday to merge their brokerage businesses in a new joint venture. - The c...
December 2008
What is Ex-Willbros James K. Tillery U.S. Bribery Conspiracy?
I am curious as to how the Feds plan to prove this case James K. Tillery, 49, the former President of Willbros International, Inc., a unit of Willbros Group Inc., the Panama-based provider of oil and natural-gas services, based in Houston, Texas, was c...
