Continue reading Serious Money: Chavez & Gaddafi, Real Blues Brothers

Serious Money: Chavez & Gaddafi, Real Blues Brothers originally appeared on BloggingStocks on Thu, 24 Feb 2011 14:30:00 EST. Please see our terms for use of feeds.

Forgive me if I stray slightly, but I could not help thinking about how ironic it would be if someone leaked information as to the whereabouts of Wikileaks founder and "fearless leader" Julian Assange -- who is in hiding!

It would be even more ironic if a CIA operative who had his cover blown by Wikileaks decides what goes around comes around. Let's face it, in its own way Wikileaks has become a rogue nation, so why wouldn't the CIA get involved?

In the mean time, this has probably helped world markets as it has overtaken everything else as the big story of the past 48 hours. In a bizarre way, Assange may have achieved one of his goals by bringing the world closer together, sort of.

Continue reading Serious Money: Does BAC Have Anything to Fear from Wikileaks?

Serious Money: Does BAC Have Anything to Fear from Wikileaks? originally appeared on BloggingStocks on Wed, 01 Dec 2010 11:00:00 EST. Please see our terms for use of feeds.

Technology giant Hewlett Packard Company (HPQ) will be reporting its fiscal fourth quarter results following the market close Monday, with analysts expecting to see earnings of $1.27 per share.

During the same period last year, the company had earnings of $1.14 per share.

There will definitely be a lot of attention paid to the company's quarterly report, but that does not have so much to do with the company's figures as it does with the company's new CEO, Leo Apotheker.

Continue reading Hewlett-Packard Q4 Earnings Preview

Hewlett-Packard Q4 Earnings Preview originally appeared on BloggingStocks on Fri, 19 Nov 2010 17:00:00 EST. Please see our terms for use of feeds.

Continue reading How Robo Signing Intensifies the Mortgage Crisis

How Robo Signing Intensifies the Mortgage Crisis originally appeared on BloggingStocks on Fri, 22 Oct 2010 14:30:00 EST. Please see our terms for use of feeds.

Without naming names, the Federal Housing Finance Agency (FHFA) issued subpoenas to several big banks to obtain documentation on their mortgage servicing and securitization, as reported in the New York Times.

The purpose of the subpoenas is to determine is there was fraud in packaging and reselling bundles of mortgages to investors during the housing bubble.

Continue reading Federal Housing Finance Agency Issues Subpoenas to Big Banks

Federal Housing Finance Agency Issues Subpoenas to Big Banks originally appeared on BloggingStocks on Thu, 21 Oct 2010 17:30:00 EST. Please see our terms for use of feeds.

Imagine, if you would, that you lost your home to foreclosure, but you later learned that the entity that seized your property likely had no right to take it. It sounds unbelievable, right? Well, a recently initiated investigation involving GMAC indicates that may be exactly what has happened in tens of thousands of foreclosure cases across the country.

The investigation, undertaken by the Florida Attorney General, is examining three law firms for allegedly providing fraudulent affidavits that identify who holds the original mortgage note in foreclosure cases. According to a report from NPR, this action has caused GMAC to suspend pending eviction and foreclosure activities.

Continue reading GMAC Investigation Signals Possible Next Meltdown

GMAC Investigation Signals Possible Next Meltdown originally appeared on BloggingStocks on Tue, 21 Sep 2010 14:30:00 EST. Please see our terms for use of feeds.

Where did they go? Why have we not heard from them? We have heard what the rig survivors had to say, as well as the government inspectors, regulators and elected officials. BP (BP) senior management has spoken out often. We have heard from Gulf coast clean-up crews, the Coast Guard, insurance underwriters and affected business people.

Perhaps I just missed it, but I do not recall hearing anything from someone whose job it is to observe and report on safety and risk at BP facilities?

Continue reading Chasing Value: BP's Risk Manager Missing in Action

Chasing Value: BP's Risk Manager Missing in Action originally appeared on BloggingStocks on Wed, 08 Sep 2010 12:20:00 EST. Please see our terms for use of feeds.

The foolishness that goes on in the adult world sets a poor example for the next generation. The poor decisions, arrogance and even stupidity of the Hewlett-Packard (HPQ) board of directors and the equally unfit to lead NCAA is shameful. Larry Ellison, CEO of Oracle (ORCL) is correct in calling out the board of HP for firing CEO Mark Hurd, understanding the harm and injustice done to the company and its shareholders.

I can think of no more hypocritical organization then the NCAA, which has also shown itself to lack a sense of fair play and justice, while holding itself aloof and making demands of others. Its out-of-touch judgments and penalties for rules infractions make no sense, and USC students with no culpability were on the receiving end of it.

Continue reading Chasing Value™: HP and Hurd, NCAA and USC -- Misguided and Foolish

Chasing Value™: HP and Hurd, NCAA and USC -- Misguided and Foolish originally appeared on BloggingStocks on Mon, 23 Aug 2010 12:00:00 EST. Please see our terms for use of feeds.

Continue reading Hewlett Packard Slightly Lower Following Q2 Earnings Report

Hewlett Packard Slightly Lower Following Q2 Earnings Report originally appeared on BloggingStocks on Thu, 19 Aug 2010 18:30:00 EST. Please see our terms for use of feeds.

Continue reading Whistleblowing Provision in Financial Reform Act Could Mean Big Payouts

Whistleblowing Provision in Financial Reform Act Could Mean Big Payouts originally appeared on BloggingStocks on Mon, 09 Aug 2010 09:30:00 EST. Please see our terms for use of feeds.

Continue reading AIG Settles Fraud Charges for $725 Million

AIG Settles Fraud Charges for $725 Million originally appeared on BloggingStocks on Mon, 19 Jul 2010 09:30:00 EST. Please see our terms for use of feeds.

The daily cost of operations, clean-up and restitution to BP plc (BP) has reached $100 million per day (over the last three days), according to the company. Unless this is being broadcast to garner unlikely sympathy from a angry crowd, then the costs have reached a magnitude I would have thought unlikely, and my contrarian bet on BP may be at risk.

It's important for me to disclose from the beginning (not just in the footer) that I have wagered that BP is oversold through options and equity. How much so depends on a lot of factors. I made this calculated risk based on the assumption that forcing the company into bankruptcy is not in anyone's best interest. However, I am once again reminded of a great line from the The Maltese Falcon, in which Kasper Gutman cautions Sam Spade:

Continue reading Whose Best Interests Are Served If BP Is Pushed into Bankruptcy?

Whose Best Interests Are Served If BP Is Pushed into Bankruptcy? originally appeared on BloggingStocks on Mon, 28 Jun 2010 11:10:00 EST. Please see our terms for use of feeds.

Since the April 20th explosion of BP's (BP) deepwater rig Horizon, the stock has been steadily falling, and shares fell to a 14 month low today.

The stock finished the day down 6% to $26.97, down $1.77, and traded as low as $26.83 during the day.

Oil has been gushing into the Gulf of Mexico for 62 days now, and no one is expecting BP to be able to stop it until at least August, and that is assuming that the two relief wells the company is drilling will be ready in time.

Continue reading BP Hits New Low as Company Continues to Deal with Oil Spill

BP Hits New Low as Company Continues to Deal with Oil Spill originally appeared on BloggingStocks on Fri, 25 Jun 2010 17:00:00 EST. Please see our terms for use of feeds.

Continue reading BP Trades Lower as CEO Testifies Before Congress

BP Trades Lower as CEO Testifies Before Congress originally appeared on BloggingStocks on Thu, 17 Jun 2010 18:30:00 EST. Please see our terms for use of feeds.

Continue reading Exxon Mobil and Chevron Executives Say BP Spill Unlikely to Repeat

Exxon Mobil and Chevron Executives Say BP Spill Unlikely to Repeat originally appeared on BloggingStocks on Tue, 15 Jun 2010 13:50:00 EST. Please see our terms for use of feeds.

It's been a few weeks now that Google (GOOG) and its Street View mapping service has been in the spotlight after it was discovered that the search giant collected and stored personal data from unencrypted Wi-Fi networks. Now, Google's intentions are in question.

"This was a failure of communication between and within teams," the BBC quotes a Google spokesperson. It is the first line of defense in what has already become an international scandal striking directly at the heart of Google and allegations of serious misconduct by that company. The BBC report indicates that Google's actions of collecting and recording the personal data is in violation of the data interception laws of as many as 30 countries.

Continue reading Google Intentions over the Street View Data Collection Now Questioned

Google Intentions over the Street View Data Collection Now Questioned originally appeared on BloggingStocks on Thu, 10 Jun 2010 11:00:00 EST. Please see our terms for use of feeds.

Continue reading Financial Reform Has No Credit Default Swap

Financial Reform Has No Credit Default Swap originally appeared on BloggingStocks on Wed, 09 Jun 2010 15:00:00 EST. Please see our terms for use of feeds.

Continue reading Sunday Funnies: Gov't Can't Clean Up Its Own Act

Sunday Funnies: Gov't Can't Clean Up Its Own Act originally appeared on BloggingStocks on Sun, 06 Jun 2010 16:00:00 EST. Please see our terms for use of feeds.

Continue reading SEC Levels Charges in $40 Million Ponzi Scheme

SEC Levels Charges in $40 Million Ponzi Scheme originally appeared on BloggingStocks on Thu, 03 Jun 2010 14:40:00 EST. Please see our terms for use of feeds.

BP Plc (BP) is facing many problems as a result of the oil spill in the Gulf of Mexico -- and now we are getting an idea of the financial ramifications of the spill (or at least one research firm's estimate). According to research firm Tudor Pickering Holt, BP and other companies face a liability of $35 billion to $40 billion as a result of the ongoing oil spill in the Gulf.

Analysts from the firm compared the current spill to the costs associated with the Exxon Valdez spill and added in some timing estimates and "guess work" to come up with a potential price tag. The analysts told Fox Business, "You've got to try and put some realistic projections on oil spill liability before you can try to value any stock involved."

Continue reading BP Oil Spill Liability Estimated at $40 Billion

BP Oil Spill Liability Estimated at $40 Billion originally appeared on BloggingStocks on Wed, 02 Jun 2010 11:10:00 EST. Please see our terms for use of feeds.