Insiders at JPMorgan (JPM +1.1%) believe Jamie Dimon has the votes to support his dual roles of CEO and Chairman, reports Charlie Gasparino. Key will be big votes from BlackRock and T. Rowe Price due in a few days, and execs feel they have won those. If Dimon loses? "He won't leave them in the lurch ... he will groom a successor." [View news story]
This is nothing more than much ado about nothing played up by the uninformed and the media.
Pres. Obama calls for an energy fund that would spend $2B over 10 years to focus on research on green fuel sources for vehicles. The research would focus on a range of technologies and non-oil fuels such as biofuels and natural gas, and would be funded mostly from royalties the government gets from offshore drilling. [View news story]
Finally, T. Boone Pickens might just have his ideas taken seriously.
Congress is increasing its efforts to force the Postal Service to maintain Saturday deliveries, with the Senate considering a provision about the issue in a budget resolution after the House passed similar legislation last week. There are also dark mutterings that the decision, which would save $2B a year, would make it more difficult for Congress to make other changes the Postal Service wants. [View news story]
Saturday delivery is not necessary, even for Congress which is out of town very week beginning on Thursday.
Congress is increasing its efforts to force the Postal Service to maintain Saturday deliveries, with the Senate considering a provision about the issue in a budget resolution after the House passed similar legislation last week. There are also dark mutterings that the decision, which would save $2B a year, would make it more difficult for Congress to make other changes the Postal Service wants. [View news story]
I guess the Postal Worker Union had some objections to reducing head count and/or hours at the Post Office and the weenies on Capitol Hill just caved. Why save the American people $2.0Billion a year when you can buy some votes with other peoples money?
"It's fun to be able, for once, to place yourself on the cheerleaders' side of the U.S. markets," writes Richard Russell, advising his readers to buy the DJIA ETF (DIA). "It makes sense to be on the side of the (Fed)." Russell last week: I've never seen anything like this. [View news story]
"It's fun to be able, for once, to place yourself on the cheerleaders' side of the U.S. markets," writes Richard Russell, advising his readers to buy the DJIA ETF (DIA). "It makes sense to be on the side of the (Fed)." Russell last week: I've never seen anything like this. [View news story]
We are greedy when others are fearful and we are fearful when others are greedy, paraphrasing Warren Buffet.
You should rethink your assumptions in light of the age old concept of supply and demand. There is little evidence that there will be either a sharp uptick in demand nor is there likely to be any shortage of supply for some time. All of those corporate borrowers will need to drain their own liquidity before returning to borrowing from banks. With corporations itting on huge piles of liquidity that will take years. Additionally, Dodd Frank and Basel III will impact bank leverage. It is a new game and the banks will need to learn the rules after those rules are fully written.
President Obama is due to meet Republican Senators John McCain and Lindsey Graham today, ostensibly to talk about immigration reform, although you'd expect the looming $85B in spending cuts to crop up in conversation. There's otherwise little indication that Democrats and Republicans are in negotiations to cancel/postpone the sequestration. [View news story]
RBS (RBS) will reportedly unveil plans on Thursday, along with its FY results, to float its Citizens U.S. retail bank. While an IPO could eventually bring in £8B, RBS will initially sell just 25%. The move is part of RBS's response to political and regulatory pressure to boost its balance sheet and increase its U.K. focus. RBS also intends to continue reducing its investment bank ops, including slashing the size of its balance sheet by £20-30B. [View news story]
Who would buy this and why? The same inept European bank will continue to control this US Sub with even less incentive to reward shareholders once they have repatriated the cash proceeds. The fundamentals of banking have not gotten markedly better.
Citigroup: Optimism Everywhere, Are They Right? [View article]
I wonder what will happen to all of these bank's earnings once the mortgage refi boom ends. There is very low loan demand which has driven down the loan to deposit ratios to level not seen since the 70's. The yields on portfolios, via; net interest margin, continue to shrink. Where is the revenue growth going to come from. Oh yeah, they will just go back to making bad loans to unqualified borrowers in the name of earnings trying to buy themselves bonuses and time.
Flowers Foods (FLO) and Mexico's Grupo Bimbo are reportedly set to be the stalking horse bidders for Hostess Brands' bread ops, which the bankrupt company is likely to sell in at least two groups and which could fetch over $350M. Other possible suitors include Wal-Mart (WMT) and Kroger (KR). Wonder Bread, Nature's Pride, Home Pride, Merita and Butternut are among the brands on offer. [View news story]
Citigroup (C) plans to ask permission for a "minimal" buyback of its shares as part of the latest Fed stress test. The 19 largest U.S. banks are due to put forward their plans to return capital to shareholders as part of an annual Fed-supervised exercise, and due by Monday. Speculation is that, among other plans outlined for the remaining banks, JPMorgan (JPM) will seek a dividend increase and a share repurchase program. [View news story]
I am impressed by your prescience. Have you called Ben B to explain what is going to happen this year?
Flowers Foods (FLO) and Mexico's Grupo Bimbo are reportedly set to be the stalking horse bidders for Hostess Brands' bread ops, which the bankrupt company is likely to sell in at least two groups and which could fetch over $350M. Other possible suitors include Wal-Mart (WMT) and Kroger (KR). Wonder Bread, Nature's Pride, Home Pride, Merita and Butternut are among the brands on offer. [View news story]
I cannot remember the last time I saw anyone in my family eat any of these brands including Hostess Twinkies, Cupcakes or Ho Ho's.
The National Credit Union Administration has filed a suit against J.P. Morgan (JPM) as successor-in-interest to Washington Mutual Bank, alleging it violated federal and state securities laws in connection with the underwriting and subsequent sale of $2.2B in mortgage-backed securities to three corporate credit unions. The complaint alleges the firms made numerous misrepresentations and omissions of material facts in the Offering Documents of the securities sold to the institutions, which ultimately led to their failure. [View news story]
Citigroup (C) plans to ask permission for a "minimal" buyback of its shares as part of the latest Fed stress test. The 19 largest U.S. banks are due to put forward their plans to return capital to shareholders as part of an annual Fed-supervised exercise, and due by Monday. Speculation is that, among other plans outlined for the remaining banks, JPMorgan (JPM) will seek a dividend increase and a share repurchase program. [View news story]
Insiders at JPMorgan (JPM +1.1%) believe Jamie Dimon has the votes to support his dual roles of CEO and Chairman, reports Charlie Gasparino. Key will be big votes from BlackRock and T. Rowe Price due in a few days, and execs feel they have won those. If Dimon loses? "He won't leave them in the lurch ... he will groom a successor." [View news story]
Pres. Obama calls for an energy fund that would spend $2B over 10 years to focus on research on green fuel sources for vehicles. The research would focus on a range of technologies and non-oil fuels such as biofuels and natural gas, and would be funded mostly from royalties the government gets from offshore drilling. [View news story]
Congress is increasing its efforts to force the Postal Service to maintain Saturday deliveries, with the Senate considering a provision about the issue in a budget resolution after the House passed similar legislation last week. There are also dark mutterings that the decision, which would save $2B a year, would make it more difficult for Congress to make other changes the Postal Service wants. [View news story]
Congress is increasing its efforts to force the Postal Service to maintain Saturday deliveries, with the Senate considering a provision about the issue in a budget resolution after the House passed similar legislation last week. There are also dark mutterings that the decision, which would save $2B a year, would make it more difficult for Congress to make other changes the Postal Service wants. [View news story]
"It's fun to be able, for once, to place yourself on the cheerleaders' side of the U.S. markets," writes Richard Russell, advising his readers to buy the DJIA ETF (DIA). "It makes sense to be on the side of the (Fed)." Russell last week: I've never seen anything like this. [View news story]
"It's fun to be able, for once, to place yourself on the cheerleaders' side of the U.S. markets," writes Richard Russell, advising his readers to buy the DJIA ETF (DIA). "It makes sense to be on the side of the (Fed)." Russell last week: I've never seen anything like this. [View news story]
Wells Fargo: 2 Huge Upside Catalysts [View article]
President Obama is due to meet Republican Senators John McCain and Lindsey Graham today, ostensibly to talk about immigration reform, although you'd expect the looming $85B in spending cuts to crop up in conversation. There's otherwise little indication that Democrats and Republicans are in negotiations to cancel/postpone the sequestration. [View news story]
RBS (RBS) will reportedly unveil plans on Thursday, along with its FY results, to float its Citizens U.S. retail bank. While an IPO could eventually bring in £8B, RBS will initially sell just 25%. The move is part of RBS's response to political and regulatory pressure to boost its balance sheet and increase its U.K. focus. RBS also intends to continue reducing its investment bank ops, including slashing the size of its balance sheet by £20-30B. [View news story]
Citigroup: Optimism Everywhere, Are They Right? [View article]
Flowers Foods (FLO) and Mexico's Grupo Bimbo are reportedly set to be the stalking horse bidders for Hostess Brands' bread ops, which the bankrupt company is likely to sell in at least two groups and which could fetch over $350M. Other possible suitors include Wal-Mart (WMT) and Kroger (KR). Wonder Bread, Nature's Pride, Home Pride, Merita and Butternut are among the brands on offer. [View news story]
Citigroup (C) plans to ask permission for a "minimal" buyback of its shares as part of the latest Fed stress test. The 19 largest U.S. banks are due to put forward their plans to return capital to shareholders as part of an annual Fed-supervised exercise, and due by Monday. Speculation is that, among other plans outlined for the remaining banks, JPMorgan (JPM) will seek a dividend increase and a share repurchase program. [View news story]
Flowers Foods (FLO) and Mexico's Grupo Bimbo are reportedly set to be the stalking horse bidders for Hostess Brands' bread ops, which the bankrupt company is likely to sell in at least two groups and which could fetch over $350M. Other possible suitors include Wal-Mart (WMT) and Kroger (KR). Wonder Bread, Nature's Pride, Home Pride, Merita and Butternut are among the brands on offer. [View news story]
The National Credit Union Administration has filed a suit against J.P. Morgan (JPM) as successor-in-interest to Washington Mutual Bank, alleging it violated federal and state securities laws in connection with the underwriting and subsequent sale of $2.2B in mortgage-backed securities to three corporate credit unions. The complaint alleges the firms made numerous misrepresentations and omissions of material facts in the Offering Documents of the securities sold to the institutions, which ultimately led to their failure. [View news story]
Citigroup (C) plans to ask permission for a "minimal" buyback of its shares as part of the latest Fed stress test. The 19 largest U.S. banks are due to put forward their plans to return capital to shareholders as part of an annual Fed-supervised exercise, and due by Monday. Speculation is that, among other plans outlined for the remaining banks, JPMorgan (JPM) will seek a dividend increase and a share repurchase program. [View news story]