bankingqueen's Comments bankingqueen's Comments RSS Syndication from SeekingAlpha.com http://seekingalpha.com/user/913872/comments Fisker Automotive, the struggling government-backed hybrid sports car maker, terminates 75% of its staff in what sources said was a last-ditch effort to conserve cash and stave off a potential bankruptcy filing. The company, which raised $1.2B from investors and tapped nearly $200M in government loans, has only around $30M in cash remaining. About 160 workers were fired at a Friday morning meeting at its Anaheim, Calif., headquarters, and were told that the company couldn't afford to give them severance payments. http://seekingalpha.com/currents/post/929361?source=feed#comment-17291221 17291221 Fri, 05 Apr 2013 21:39:24 -0400 The U.S. economy is in a bubble inflated by “phony money” from the Fed and will burst within a few years, David Stockman warns; when it bursts, the U.S. "will descend into an era of zero-sum austerity and virulent political conflict." Paul Krugman calls Stockman’s conclusions "pathetic and embarrassing... full of big numbers that are scary because they’re big numbers.” http://seekingalpha.com/currents/post/919361?source=feed#comment-17098001 17098001 Mon, 01 Apr 2013 23:50:28 -0400 The U.S. economy is in a bubble inflated by “phony money” from the Fed and will burst within a few years, David Stockman warns; when it bursts, the U.S. "will descend into an era of zero-sum austerity and virulent political conflict." Paul Krugman calls Stockman’s conclusions "pathetic and embarrassing... full of big numbers that are scary because they’re big numbers.” http://seekingalpha.com/currents/post/919361?source=feed#comment-17092831 17092831
Not only you but I have been preaching it for years, but you are right and affirm my worst fears that I already knew. Enjoy where u are my friend.]]> Mon, 01 Apr 2013 19:49:03 -0400
Not only you but I have been preaching it for years, but you are right and affirm my worst fears that I already knew. Enjoy where u are my friend.]]> The U.S. economy is in a bubble inflated by “phony money” from the Fed and will burst within a few years, David Stockman warns; when it bursts, the U.S. "will descend into an era of zero-sum austerity and virulent political conflict." Paul Krugman calls Stockman’s conclusions "pathetic and embarrassing... full of big numbers that are scary because they’re big numbers.” http://seekingalpha.com/currents/post/919361?source=feed#comment-17092231 17092231 Mon, 01 Apr 2013 19:25:07 -0400 Toys "R" Us, which is partly owned by KKR (KKR) and Vornado Realty Trust (VNO), has finally ended its plans to go public, due to "unfavorable market conditions" and a change in CEO. The move comes a month after boss Gerald Storch said he was stepping down, and as Q4 revenue dropped 2.6% to $5.77B and profit slumped 30% to $239M. http://seekingalpha.com/currents/post/916931?source=feed#comment-17046861 17046861 Sun, 31 Mar 2013 20:53:43 -0400 Deposits over €100K at the Bank of Cyprus will be taxed at 62.5%, sources tell Reuters. The figure is far greater than officials originally indicated. Customers will get 37.5% of their deposits over the €100K threshold in bank shares while the remainder of their cash "may never be paid back."  http://seekingalpha.com/currents/post/916751?source=feed#comment-17004381 17004381 Sat, 30 Mar 2013 00:19:40 -0400 Our 5 Year Forecast Beginning February 4, 2013 http://seekingalpha.com/article/1257861/comments?source=feed#comment-16013101 16013101 Thu, 07 Mar 2013 22:01:21 -0500 Don't buy rumors J.C. Penney (JCP -10.6%) may have a buyer, or a savior CEO will be brought in, writes Jeff Matthews. Steven Roth sold not because he was in trouble, not because of a margin call, but because he wanted to sell. Roth's as tied in as they get and he's on the board - would he be unloading his stake if he had an idea something game-changing was imminent? http://seekingalpha.com/currents/post/869051?source=feed#comment-15884501 15884501 Tue, 05 Mar 2013 17:18:59 -0500 Las Vegas Sands (LVS) acknowledges it probably broke the law against bribing foreign officials, according to its 10-K filed yesterday. The WSJ ties the admission to dealings in mainland China by people no longer with the firm. The SEC subpoenaed the company Feb. 9, 2011, at which time the LVS board's audit committee opened a probe; LVS doesn't expect any material impact or restatement of past results. http://seekingalpha.com/currents/post/863541?source=feed#comment-15749941 15749941 Sat, 02 Mar 2013 22:20:43 -0500 Is Sheryl Sandberg plotting a departure from Facebook (FB)? In a column discussing Lean In, the COO's upcoming book on women in the workplace, the NYT's Jodi Kantor notes speculation about "whether Lean In is the first step toward a new career for [Sandberg], perhaps in politics." New York's Kevin Roose, observing Sandberg has succeeded in her goal of turning Facebook from a hot startup into an online ad giant: "I predict she will leave Facebook within the next year. In fact, I think she would be crazy not to." http://seekingalpha.com/currents/post/847691?source=feed#comment-15451381 15451381 Sun, 24 Feb 2013 17:58:14 -0500 The pace and magnitude of flows into equity funds is flashing a contrarian sell signal says BAML. $8.6B flowed into equity funds last week, the 13th consecutive week of positive reads - the longest streak in 13 years. Also seen are $3.7B of flows into bond funds and $32B of redemptions from money market funds. http://seekingalpha.com/currents/post/846561?source=feed#comment-15371471 15371471 Fri, 22 Feb 2013 11:44:21 -0500 St. Louis Fed chief Jim Bullard appears to be back on the reservation, leading off his CNBC appearance by telling the gang Fed policy is very easy and going to remain so for a long time. Bullard made a few headlines (he likes them) yesterday, saying one model suggests a rate hike could come this summer. http://seekingalpha.com/currents/post/845601?source=feed#comment-15366851 15366851 Fri, 22 Feb 2013 10:27:04 -0500 Two days of losses is apparently enough: Ben Bernanke shrugged off concerns the Fed's policies are fueling asset bubbles at a meeting earlier this month, reports Bloomberg, citing anonymous sources. Does Jon Hilsenrath have the day off? http://seekingalpha.com/currents/post/845791?source=feed#comment-15361201 15361201 Fri, 22 Feb 2013 08:47:10 -0500 The selloff begun in the U.S. yesterday accelerates across the globe, with China -3% , Japan -1.4% , Europe -2% . S&P 500 futures -0.2% , Nasdaq 100 -0.4% . Apple off another 0.7% premarket. http://seekingalpha.com/currents/post/841441?source=feed#comment-15304361 15304361 Thu, 21 Feb 2013 08:52:52 -0500 Goldman's Jan Hatzius backs away from his worry about a 2013 recession, saying congressional Republicans have given up on the idea of using the debt ceiling as a way to force spending cuts. No worries on the deficit, which shrunk to 7% of GDP last year on its way to 3% by 2015, says Hatzius. http://seekingalpha.com/currents/post/834361?source=feed#comment-15201821 15201821 Tue, 19 Feb 2013 10:08:14 -0500 President Obama will lay out yet another plan for trying to spark some life back into the economy when he gives his State of the Union address on Tuesday. The program includes investments in infrastructure, manufacturing, clean energy and education. But as with countless proposals in the past, any new spending plans are likely to hit strong opposition from Republicans, who would probably prefer to hear about cuts and deficit reduction. http://seekingalpha.com/currents/post/816861?source=feed#comment-14808431 14808431 Sun, 10 Feb 2013 10:27:22 -0500 Despite nearly 11M borrowers being underwater on their mortgages, home equity lines of credit are suddenly on the rise again. During the housing boom, Americans used their homes like an ATM, withdrawing over $1T in home equity before the bubble burst. JPMorgan Chase says they've already seen a 31% jump in HELOC's over last year, and with home prices up another 8% year-over-year in December, the trend appears likely to continue unabated. http://seekingalpha.com/currents/post/816741?source=feed#comment-14779931 14779931 Sat, 09 Feb 2013 11:17:55 -0500 OPKO Health (OPK -4.7%) finished the day markedly lower, but off its lows after responding to statements regarding the sale of company stock by Adam Logal, it's vice president, chief accounting officer and treasurer. The company notes that no other officer has exercised options or sold any shares of company stock during the last 12 months and that the sale by Logal was done to address pressing family circumstances. No other sales by insiders are being contemplated. http://seekingalpha.com/currents/post/816621?source=feed#comment-14766941 14766941 Fri, 08 Feb 2013 19:55:22 -0500 According to a congressional official, Democrats on the supercommittee have rejected a last-ditch offer by the Republicans aimed at slashing $545B from deficits over the next decade, putting in question whether an agreement can be reached by the Wednesday deadline. Remember, the panel's mandate calls for $1.2T in savings over the next 10 years. http://seekingalpha.com/currents/post/101988?source=feed#comment-2050666 2050666 Sat, 19 Nov 2011 19:26:22 -0500 Does one hand know what the other is doing at Morgan Stanley (MS)? On Monday, the firm issued this call: Get Long Emerging Markets for the 39% Rally, China's Soft Landing Will Be Dandy. On the same day, it said this: Recession Likely, Sell Stocks and Risk Assets, Overweight Cash and Bonds. Which Morgan Stanley should we listen to? http://seekingalpha.com/currents/post/101493?source=feed#comment-2043066 2043066 Wed, 16 Nov 2011 12:05:31 -0500 The Fed's last bullet: A blog post on the New York Fed's website explains why a "zero lower bound" on interest rates exists even though - in theory - the Fed could actually drop rates below 0%. The problem with a move below 0% is that it has the potential to further disrupt markets because many current institutional arrangements were not designed with near-zero or negative interest rates in mind - leaving the FOMC stuck for all practical purposes with the lower bound. http://seekingalpha.com/currents/post/101390?source=feed#comment-2042286 2042286 Wed, 16 Nov 2011 07:30:32 -0500 The Pension Benefit Guarantee Corporation (PBGC) reports a record deficit of $26B for the year ended September 30 as the economy leaves the insurance fund with growing exposure to weak companies. The agency plans to make up the shortfall over a period of years by raising premiums and through better investment returns. http://seekingalpha.com/currents/post/101346?source=feed#comment-2041445 2041445 Tue, 15 Nov 2011 18:54:39 -0500 After a long journey (and a buzzy week), Groupon (GRPN) prices its IPO at $20, above the expected range of $16-$18 - valuing the company at $12.65B. Next up: Nasdaq trading tomorrow, where flying high or fizzling could have implications for the sector. http://seekingalpha.com/currents/post/99515?source=feed#comment-2015580 2015580 Thu, 03 Nov 2011 19:45:29 -0400 Analysts Need To Get Real About OpenTable http://seekingalpha.com/article/304969/comments?source=feed#comment-2015270 2015270 Thu, 03 Nov 2011 17:18:52 -0400 Groupon (GRPN) will price its IPO tomorrow and begin trading on Friday, according to All Things D's sources. The company and its underwriters haven't decided whether to boost the IPO's offering price from its current $18 level, which would allow Groupon to raise $540M at an $11.4B valuation. (more) http://seekingalpha.com/currents/post/99118?source=feed#comment-2011826 2011826 Wed, 02 Nov 2011 13:32:51 -0400 Regulators are investigating whether MF Global (MF) diverted as much as $700M from segregated customer accounts to support its trades as the company teetered, according to sources. A major no-no, it's possible this is what nixed a desperate effort by MF to sell itself to Interactive Brokers (IBKR). (SEC/CFTC statement) http://seekingalpha.com/currents/post/98689?source=feed#comment-2007780 2007780 Mon, 31 Oct 2011 21:03:53 -0400 The rich have indeed gotten richer over the last three decades - and the very rich have gotten very richer - far outpacing the middle class, according to a new CBO study. The top 1% of households saw after-tax household income grow by 275% from 1979 to 2007, while income for the 60% in the middle of the scale rose by less than 40%; for the lowest quintile, the gain was just 18%. http://seekingalpha.com/currents/post/97957?source=feed#comment-1997405 1997405 Wed, 26 Oct 2011 19:08:41 -0400 The housing market is going to recover sooner than many think, according to Pershing Square's Ali Namvar, and he's positioning the firm's $10B portfolio now to take advantage of it. One of his favorite picks: Fortune Brands Home & Security (FBHS), the recent home remodeling and security business spin off of Fortune Brands (FO). The company's current valuation assumes almost no housing recovery in the next five years, Namvar says, making it a great low-risk play. http://seekingalpha.com/currents/post/96693?source=feed#comment-1983465 1983465 Wed, 19 Oct 2011 20:13:28 -0400 The housing market is going to recover sooner than many think, according to Pershing Square's Ali Namvar, and he's positioning the firm's $10B portfolio now to take advantage of it. One of his favorite picks: Fortune Brands Home & Security (FBHS), the recent home remodeling and security business spin off of Fortune Brands (FO). The company's current valuation assumes almost no housing recovery in the next five years, Namvar says, making it a great low-risk play. http://seekingalpha.com/currents/post/96693?source=feed#comment-1983433 1983433 Wed, 19 Oct 2011 19:50:38 -0400 Germany and France will this week formulate the details of a "shock and awe" plan that includes upping the eurozone bailout fund to €2T ($2.8T) from €440B, The Daily Telegraph reports. The program also includes recapitalizing the banks with €100B-€200B and a plan for Greece in which the private sector will takes losses of up to 50%. http://seekingalpha.com/currents/post/95969?source=feed#comment-1976394 1976394 Sun, 16 Oct 2011 09:55:42 -0400