Newspaper wrap-up: Bank of America's investment may hold strategic value

Posted Nov 29th 2007 9:09AM by Eric Buscemi
Filed under: Newspapers, Magazines, Apple Inc (AAPL), Amazon.com (AMZN), AT and T (T), Bank of America (BAC), Countrywide Financial (CFC), Verizon Communications (VZ), iPhone

MAJOR PAPERS:

According to the Wall Street Journal, Bank of America Corporation's (NYSE: BAC) $2B investment in Countrywide Financial Corporation (NYSE: CFC) may still hold important long-term strategic value for Bank of America. In order to strengthen Countrywide, the company may be forced to make another infusion.

OTHER PAPERS:

Top executives from Chrysler will meet with the president of Russian automaker GAZ to discuss the possibility of building Chrysler vehicles in Russia, the Detroit News reported.

WEBSITES:

Barron's Online's "Weekday Trader" reported that after falling 28% since it spun off from Verizon Communications Inc (NYSE: VZ) a year ago, Idearc Inc (NYSE: IAR) represents a bargain worth considering. It offers high cash flow from a no-growth business that offers quarterly dividends totaling $1.36, for a rich 7% yield.
AT&T Inc's (NYSE: T) CEO Randall Stephenson said Apple Inc (NASDAQ: AAPL) will unveil a new version of its iPhone next year that will be able to download the Internet at a faster rate, Bloomberg reported.
Amazon.com Inc's (NASDAQ: AMZN) Clickriver advertising system is design to target Amazon's sponsor's in their product listing, reports the rumormonger at ValleyWag.com. This is part of a plan to "build next generation advertising products" using Amazon's "world-class personalization technologies."

Tags: BAC, Bank of America, BankOfAmerica, CFC, Chrysler, Countrywide Financial, CountrywideFinancial, IAR, Idearc, Russia, Verizon, VZ

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Reader Comments (Page 1 of 1)

11-29-2007 @ 1:18PM

grayed said...

This bank is the worst bank to do anything with. When a bank charges 35.00 late fee and a 15.00 fee for paying your bill on the phone. Time to get out. That is why the smart people have not done anything with this bank. This is what payday loans do to people. Listen to Clark Howard about this Bank. Have got out of this bank in the early 2000"s

11-29-2007 @ 1:23PM

grayed said...

Not sure where this went. But I AM TALKING ABOUT BAC

11-29-2007 @ 4:07PM

ServicePlease said...

I agree with grayed..on BAC, & many other companies. They're unaware of what customer service is. The charges & inability to get to your lock box (except at specified times) are terrible. Logic would tell you that being good at CS would bring you more customers..but their infintile minds can't fathom it. I wish more papers & magazines would comment about it. And bring all of it back to the U.S.