The bloom is off the rose as both Office Depot (ODP -18.5%) and OfficeMax (OMX -7.8%) tumble from early trading levels after the merger was announced. A conference call this morning covered a number of important financial details of the combination but here's what was missing: 1) What is the new company called? 2) Who is running the new company? 3) Where will the yet-to-be-named company run its operations from? 4) Can a board split 50-50 between OMX and ODP pedigree get things done? [View news story]
Fidelity Bank of Dearborn, Michigan is the 16th U.S. bank to fail this year. Huntington National Bank, a part of Huntington Bancshares (HBAN) will buy the $818.2M in assets and assume the $747.6M in deposits at Fidelity's 15 branches. The cost to the FDIC's deposit-insurance fund is $92.8M . Fidelity is Michigan's first failed bank of the year. [View news story]
HBAN is one of the top 5 bank stocks in the US whoever disagrees is ignorant or holding short.
The bloom is off the rose as both Office Depot (ODP -18.5%) and OfficeMax (OMX -7.8%) tumble from early trading levels after the merger was announced. A conference call this morning covered a number of important financial details of the combination but here's what was missing: 1) What is the new company called? 2) Who is running the new company? 3) Where will the yet-to-be-named company run its operations from? 4) Can a board split 50-50 between OMX and ODP pedigree get things done? [View news story]
Fidelity Bank of Dearborn, Michigan is the 16th U.S. bank to fail this year. Huntington National Bank, a part of Huntington Bancshares (HBAN) will buy the $818.2M in assets and assume the $747.6M in deposits at Fidelity's 15 branches. The cost to the FDIC's deposit-insurance fund is $92.8M . Fidelity is Michigan's first failed bank of the year. [View news story]