Newspaper wrap-up 7-13-07: GE in the news
Posted Jul 13th 2007 9:10AM by Eric Buscemi
Filed under: Newspapers, Magazines, General Electric (GE), Morgan Stanley (MS), Zoltek Co (ZOLT)
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MAJOR PAPERS:
- General Electric Company (NYSE: GE) has hired Morgan Stanley (NYSE: MS) to find a buyer for its WMC Mortgage subprime mortgage unit, signaling its exit from the mortgage business, reported the Wall Street Journal (subscription required).
- GE's CNBC cable business news channel and the Financial Times Group are in discussions to share resources and shore up their Web business, reported the Wall Street Journal.
- VeriSign Inc (NASDAQ: VRSN), which oversees dot-com and dot-net domain names registry, has recorded an additional $160M in compensation expenses related to stock option grants made between 1998 and 2006, causing the CFO to resign, reported the Wall Street Journal.
- The Financial Times (subscription required) reported that Virgin Media Inc (NASDAQ: VMED) has hired financial services company UBS AG (NYSE: UBS) yesterday to pursue strategic buyers.
OTHER PAPERS:
- From BusinessWeek's "Inside Wall Street" column:
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