Market Currents

• Tuesday, November 24, 2009

• 16:52 PM Berkadia - a partnership between Berkshire Hathaway (BRK.A) and Leucadia National (LUK) - wins court approval to buy the loan-servicing unit of bankrupt Capmark Financial Group for about $468M, beating an affiliate of PNC Financial Services (PNC). (previously) 1 Comment

• Wednesday, September 2, 2009

• 17:25 PM Capmark Financial Group - which agreed to sell its loan-service and mortgage unit to Berkshire Hathaway (BRK.A) and Leucadia National (LUK) - may file for bankruptcy after its Q2 loss of about $1.6B. The FDIC will likely order the firm to boost capital and liquidity, and KKR wrote their Capmark investment down to zero in March. Comment!
• 15:32 PM Buffett banking on real estate again, as Berkshire Hathaway (BRK.A) and Leucadia National (LUK) form a joint venture that will pay $490M for Capmark Financial Group's loan-servicing and mortgage business. Comment!

• Friday, July 24, 2009

• 08:54 AM CIT Group (CIT) reportedly turned down offers from Berkshire Hathaway (BRK.A) and Leucadia National Corp. (LUK) last spring to buy parts of the lender because the offer prices were too low. CIT is now looking at a similarly structured breakup, with its aviation-finance and rail-finance operations units the most likely to be sold. Comment!

• Wednesday, May 13, 2009

• 13:15 PM S&P leaders: GM +7%. MRK +3%. PFE +3%. FHN +3%. JEC +3%. Laggards: GNW -24%. LIZ -23%. ODP -18%. MTG -16%. FITB -15%. DDR -15%. HBAN -14%. AKS -14%. HIG -13%. ATI -12%. GT -12%. ACAS -12%. IP -12%. MI -12%. MTW -12%. AIG -12%. RF -11%. JNY -11%. UIS -11%. PLD -11%. DOW -10%. CBG -10%. GCI -11%. MEE -10%. ZION -10%. TEL -9%. TIE -9%. LUK -9%. HAR -9%. MWV -9%. AA -9%. NUE -9%. XL -9%. WYN -9%. AIV -9%. MAS -9%. Comment!

• Sunday, December 7, 2008

• 06:20 AM With both savvy management and cheap assets, Barron's Andrew Bary says Leucadia National Corp. (LUK) may be the closest thing to what Berkshire Hathaway (BRK.A) was 20 years ago. 1 Comment

• Tuesday, June 10, 2008

• 15:32 PM Financials that have bucked the trend, with gains since last August. Part I: USB +7.7%, BLK +39.8%, SCHW +12.3%, NTRS +17.9%, TROW +15.5%, LUK +36.7%, HCBK +42.3%, NYB +22.9%. Comment!