BloggingStocks http://www.bloggingstocks.com BloggingStocks http://www.blogsmithmedia.com/http://www.bloggingstocks.com/media/feedlogo.gif BloggingStocks http://www.bloggingstocks.com en-us Copyright 2012 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[Chuck Adds optionsXpress to Schwab's Portfolio]]>http://www.bloggingstocks.com/2011/03/24/chuck-adds-optionsxpress-to-schwab-s-portfolio/http://www.bloggingstocks.com/2011/03/24/chuck-adds-optionsxpress-to-schwab-s-portfolio/http://www.bloggingstocks.com/2011/03/24/chuck-adds-optionsxpress-to-schwab-s-portfolio/#commentsFiled under: , , , ,

Charles Schwab (SCHW) has announced its decision to acquire optionsXpress (OXPS) in a friendly all-stock deal. This deal will help Schwab compete with other firms like E-Trade (ETFC), Ameritrade (AMTD), and Bank of America (BAC), which all have large online brokerage services and are vying to provide investors with the best tools and services.

The deal, which is expected to close by the third quarter of 2011, will cost Schwab $1 billion, and the company will issue 60 million new shares to swap each outstanding share of optionsXpress with 1.02 of its own shares. Our $19.74 price estimate for Charles Schwab is at a premium of almost 12% to its current market value.

Continue reading Chuck Adds optionsXpress to Schwab's Portfolio

Chuck Adds optionsXpress to Schwab's Portfolio originally appeared on BloggingStocks on Thu, 24 Mar 2011 09:10:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>AmeritradeBank of AmericaBankOfAmericacharles schwabchuck schwabChuckSchwabdealsE-Tradefeaturedinthenewsmergermergers and acquisitionsoptions tradingoptionsXpressThu, 24 Mar 2011 09:10:00 EST<![CDATA[Judge Approves 'Half-Baked Justice' SEC Settlement with BofA]]>http://www.bloggingstocks.com/2010/02/23/judge-approves-half-baked-justice-sec-settlement-with-bofa/http://www.bloggingstocks.com/2010/02/23/judge-approves-half-baked-justice-sec-settlement-with-bofa/http://www.bloggingstocks.com/2010/02/23/judge-approves-half-baked-justice-sec-settlement-with-bofa/#commentsFiled under: ,

It all started during the financial crisis. Banks and brokerage houses were tumbling down one after another. One of the biggest was the collapse of Merrill Lynch. Bank of America (BAC) negotiated the purchase of Merrill, but there was one hitch. BofA failed to appraise its stockholders that Merrill had approved $5.8 billion in bonuses to Merrill employees.

The agreement was struck. Everything was kept under the table until the SEC started an investigation into the matter. The SEC is famous for just giving a slap on the wrist to the biggest offenders. In this case the SEC agreed that BofA should pay a measly $33 million fine.

Continue reading Judge Approves 'Half-Baked Justice' SEC Settlement with BofA

Judge Approves 'Half-Baked Justice' SEC Settlement with BofA originally appeared on BloggingStocks on Tue, 23 Feb 2010 10:40:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>bacbank of americaBankOfAmericacuomofeaturedjed rakoffJedRakoffmerrill lynchMerrillLynchTue, 23 Feb 2010 10:40:00 EST<![CDATA[John Thain Takes the Top Spot at CIT Group]]>http://www.bloggingstocks.com/2010/02/08/john-thain-takes-the-top-spot-at-cit-group/http://www.bloggingstocks.com/2010/02/08/john-thain-takes-the-top-spot-at-cit-group/http://www.bloggingstocks.com/2010/02/08/john-thain-takes-the-top-spot-at-cit-group/#commentsFiled under: , , , ,

John Thain -- whom you may recall as the man who presided over the spectacular implosion of Merrill Lynch -- is looking to have some new business cards printed up. Over the weekend, CIT Group (CIT) officially announced that its board of directors has elected Thain as chairman and CEO.

Due to his controversial past, the decision to elect Thain wasn't an easy one. After shelling out a small fortune to tart up his office digs at Merrill Lynch -- and doling out lofty bonuses amid the bank's hasty takeover by Bank of America (BAC) -- Thain became something of a poster boy for Wall Street excesses.

Continue reading John Thain Takes the Top Spot at CIT Group

John Thain Takes the Top Spot at CIT Group originally appeared on BloggingStocks on Mon, 08 Feb 2010 11:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>BACBank of AmericaBankOfAmericaCITCIT GroupinthenewsJohn ThainMerrill LynchoptionsMon, 08 Feb 2010 11:00:00 EST<![CDATA[Treasury Does Not Have the Authority to Allow Ken Lewis to Violate Securities Laws]]>http://www.bloggingstocks.com/2010/02/05/treasury-does-not-have-the-authority-to-allow-ken-lewis-to-viola/http://www.bloggingstocks.com/2010/02/05/treasury-does-not-have-the-authority-to-allow-ken-lewis-to-viola/http://www.bloggingstocks.com/2010/02/05/treasury-does-not-have-the-authority-to-allow-ken-lewis-to-viola/#commentsFiled under:

Defenders of former Bank of America (BAC) CEO Ken Lewis, who is now being charged with civil fraud by New York Attorney General Andrew Cuomo, are quick to point out that Lewis may have been pressured not to reveal massive losses to shareholders by regulators -- namely Ben Bernanke and Hank Paulson.

Continue reading Treasury Does Not Have the Authority to Allow Ken Lewis to Violate Securities Laws

Treasury Does Not Have the Authority to Allow Ken Lewis to Violate Securities Laws originally appeared on BloggingStocks on Fri, 05 Feb 2010 16:20:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>BACBank of AmericaBankOfAmericaBen BernakeBenBernakeHank PaulsoninthenewsKen LewisKenLewisFri, 05 Feb 2010 16:20:00 EST<![CDATA[Bank of America Fourth Quarter Earnings Preview]]>http://www.bloggingstocks.com/2010/01/19/bank-of-america-fourth-quarter-earnings-preview/http://www.bloggingstocks.com/2010/01/19/bank-of-america-fourth-quarter-earnings-preview/http://www.bloggingstocks.com/2010/01/19/bank-of-america-fourth-quarter-earnings-preview/#commentsFiled under: , , , ,

bank of america earnings previewBefore the market opens tomorrow, Bank of America (BAC) is going to be reporting its fourth quarter earnings numbers.

Going into tomorrow's earnings release, Wall Street analysts are looking for the company to show a loss of 52 cents per share. For the same period last year, the company had a loss of 48 cents per share.

Continue reading Bank of America Fourth Quarter Earnings Preview

Bank of America Fourth Quarter Earnings Preview originally appeared on BloggingStocks on Tue, 19 Jan 2010 18:20:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>BACBank of AmericabankingBankOfAmericabanksearningsearnings previewEarningsPreviewfinanciallendersTue, 19 Jan 2010 18:20:00 EST<![CDATA[Cramer on BloggingStocks: BofA Got It Right on Moynihan]]>http://www.bloggingstocks.com/2009/12/17/cramer-on-bloggingstocks-bofa-got-it-right-on-moynihan/http://www.bloggingstocks.com/2009/12/17/cramer-on-bloggingstocks-bofa-got-it-right-on-moynihan/http://www.bloggingstocks.com/2009/12/17/cramer-on-bloggingstocks-bofa-got-it-right-on-moynihan/#commentsFiled under: , , ,

TheStreet.com's Jim Cramer says his conservative approach is just what this bank needs.

I like Brian Moynihan. I have wanted him from the get-go. Not because he is a lawyer -- that hasn't been much of a boost for others in banking (sorry Chuck Prince!). And not because he is an insider, although I think learning this story would be darned hard for an outsider.

I've liked him because he is from Fleet, the part of Bank of America (BAC) (Cramer's Take) from New England; Fleet is the least risky, most conservative portion of the bank. Fleet was a bank I loved. It gave you an amazing return and did it in a simple, conservative way: good banking.

Continue reading Cramer on BloggingStocks: BofA Got It Right on Moynihan

Cramer on BloggingStocks: BofA Got It Right on Moynihan originally appeared on BloggingStocks on Thu, 17 Dec 2009 10:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>bacbank of americaBankOfAmericaBrian MoynihanBrianMoynihanfeaturedjim cramerJimCramerThu, 17 Dec 2009 10:00:00 EST<![CDATA[Goldman Sachs had bigger role in AIG than realized]]>http://www.bloggingstocks.com/2009/12/14/goldman-sachs-had-bigger-role-in-aig-than-realized/http://www.bloggingstocks.com/2009/12/14/goldman-sachs-had-bigger-role-in-aig-than-realized/http://www.bloggingstocks.com/2009/12/14/goldman-sachs-had-bigger-role-in-aig-than-realized/#commentsFiled under: , , , ,

Were we all too fast to blame AIG (AIG)?

The insurance giant's role in precipitating the worldwide financial crisis has been covered at length since it teetered on the edge of disaster in September 2008, thanks to a series of high-risk transactions executed through its financial products group. Well, Goldman Sachs (GS), which has recovered quickly from last year's woes and is already figuring out how to pay some hefty bonuses, may have played a larger role in these transactions than everyone realized.

Continue reading Goldman Sachs had bigger role in AIG than realized

Goldman Sachs had bigger role in AIG than realized originally appeared on BloggingStocks on Mon, 14 Dec 2009 08:40:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>AIGamerican international groupAmericanInternationalGroupbacBank of AmericaBankOfAmericaGoldman SachsGSinsuranceinthenewsmerrill lynchMerrillLynchSociete GeneraleSocieteGeneraleMon, 14 Dec 2009 08:40:00 EST<![CDATA[Banks subsidizing auto TARP, extra money could be spent]]>http://www.bloggingstocks.com/2009/12/10/banks-subsidizing-auto-tarp-extra-money-could-be-spent/http://www.bloggingstocks.com/2009/12/10/banks-subsidizing-auto-tarp-extra-money-could-be-spent/http://www.bloggingstocks.com/2009/12/10/banks-subsidizing-auto-tarp-extra-money-could-be-spent/#commentsFiled under: , ,

The bailouts of late 2008 and 2009 have cost the American taxpayers $61 billion, according to the Treasury Department, but the banks aren't to blame this time. The auto manufacturer bailout, which includes Chrysler and General Motors (GRM), has cost the country more than $30 billion, with American International Group (AIG) consuming another $30 billion.

Meanwhile, Bank of America (BAC) has already made good with the government, and several banks -- such as Capital One (COF), JP Morgan Chase (JPM) and TCF Financial (TCB) -- only have to clean up situations regarding the warrants they've issued. And interestingly, the losses from the bailouts on AIG and auto manufacturers are being offset by profits from the bank bailouts, which could generate additional funds of up to $19.5 billion.

Continue reading Banks subsidizing auto TARP, extra money could be spent

Banks subsidizing auto TARP, extra money could be spent originally appeared on BloggingStocks on Thu, 10 Dec 2009 09:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>AIGamerican international groupAmericanInternationalGroupautoauto industryAutoIndustrybacBank of AmericaBankOfAmericaCapital One FinancialCapitalOneFinancialCOFgeneral motorsGeneralMotorsgrminsuranceJPMJpmorganChasetarpTCBTCF FinancialTcfFinancialtimothy geithnerTimothyGeithnertreasuryTroubled Asset Relief ProgramTroubledAssetReliefProgramThu, 10 Dec 2009 09:00:00 EST<![CDATA[Why isn't Bank of America updating its shareholders on CEO situation?]]>http://www.bloggingstocks.com/2009/11/27/why-isnt-bank-of-america-updating-its-shareholders-on-ceo-situa/http://www.bloggingstocks.com/2009/11/27/why-isnt-bank-of-america-updating-its-shareholders-on-ceo-situa/http://www.bloggingstocks.com/2009/11/27/why-isnt-bank-of-america-updating-its-shareholders-on-ceo-situa/#commentsFiled under:

Earlier this month, it was reported that Bank of America (BAC) might not announce a replacement for departing CEO Ken Lewis until Thanksgiving.

Now Thanksgiving has come and gone, and there is still no word of a new CEO for Bank of America.

"The selection process is continuing, internal and external candidates are being considered and a decision will be made in the near future," BofA spokesman Scott Silvestri told CNBC, which is speculating that the process could linger on into next year.

Continue reading Why isn't Bank of America updating its shareholders on CEO situation?

Why isn't Bank of America updating its shareholders on CEO situation? originally appeared on BloggingStocks on Fri, 27 Nov 2009 09:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>BACBank of AmericaBankOfAmericafeaturedKen LewisKenLewisFri, 27 Nov 2009 09:00:00 EST<![CDATA[Ken Lewis' successor could be... Ken Lewis?]]>http://www.bloggingstocks.com/2009/11/20/ken-lewis-successor-could-be-ken-lewis/http://www.bloggingstocks.com/2009/11/20/ken-lewis-successor-could-be-ken-lewis/http://www.bloggingstocks.com/2009/11/20/ken-lewis-successor-could-be-ken-lewis/#commentsFiled under:

In the past, I've covered Rochdale Securities analyst Dick Bove's inane ramblings about how fantastically awesome Bank of America (NYSE: BAC) CEO Ken Lewis is. Last month he called Mr. Lewis "phenomenally good" and his notes to investors are beginning to have more in common with 12-year old girls' Valentines to Zac Efron than conventional research.

But he has outdone himself this time. While Bank of America's chairman of the board goes on a cruise instead of devoting all his energy to finding a successor, Mr. Bove has found the solution to replacing Ken Lewis: "In sum, Mr. Lewis was a key architect in the creation and management of Bank of America. He knows this company better than anyone else and he knows how to operate it," Bove wrote in a research note issued this morning. "At this point in the company's history, this is the type of leader needed. Convincing him to return would be the biggest morale builder that management could get."

Continue reading Ken Lewis' successor could be... Ken Lewis?

Ken Lewis' successor could be... Ken Lewis? originally appeared on BloggingStocks on Fri, 20 Nov 2009 17:00:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>BACBank of AmericaBankOfAmericadick boveDickBoveken lewisKenLewisrochdale securitiesRochdaleSecuritiesFri, 20 Nov 2009 17:00:00 EST<![CDATA[Chasing Value: E-Trade, a word of caution]]>http://www.bloggingstocks.com/2009/11/20/chasing-value-e-trade-a-word-of-caution/http://www.bloggingstocks.com/2009/11/20/chasing-value-e-trade-a-word-of-caution/http://www.bloggingstocks.com/2009/11/20/chasing-value-e-trade-a-word-of-caution/#commentsFiled under: , , , , , , , ,

Look before you leap! All year long rumors have been swirling around that E*TRADE (ETFC) was on the auction block being prepared for an acquisition by a bigger fish interested in its customers and superior trading platform. I have not used E-TRADE so I do not have first hand experience. However, this has been acknowledged broadly and I have received very positive comments from regular users when I have written about it.

The leading suitor seems to be TD AmeriTrade Holding (AMTD), with Charles Schwab Corp (SCHW) mentioned as perhaps having similar but less conspicuous interest. For Schwab it may be as much about keeping E-TRADE out of a competitors hands as chasing the business.

Continue reading Chasing Value: E-Trade, a word of caution

Chasing Value: E-Trade, a word of caution originally appeared on BloggingStocks on Fri, 20 Nov 2009 13:40:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>AMTDBACbank of americaBankOfAmericacharles schwabCharlesSchwabchasing valueChasingValuee-tradeETFCfeaturedOptionsSCHWsheldon liberSheldonLibertd ameritradeTdAmeritradeWells FargoWellsFargoWFCFri, 20 Nov 2009 13:40:00 EST<![CDATA[CEO turnover down, not out]]>http://www.bloggingstocks.com/2009/11/13/ceo-turnover-down-not-out/http://www.bloggingstocks.com/2009/11/13/ceo-turnover-down-not-out/http://www.bloggingstocks.com/2009/11/13/ceo-turnover-down-not-out/#commentsFiled under: , , ,

It's still a tough time to be a CEO. In October, 89 top dogs moved on (by choice or not). Though this is 15% lower than the 105 in September and 29% off the whopping 125 CEOs who turned over a year earlier, it's still a sign that "stability" doesn't equal "recovery."

The latest study that Challenger, Gray & Christmas revealed to BloggingStocks reports that October was the eighth month this year in which CEO turnover was down year-over-year. Through the end of last month, 1,028 CEO positions changed hands -- down 18% from the 1,257 by the same point in 2008. In fact, the tally for the first 10 months of 2009 is the lowest since 2004, when the big office found only 561 new inhabitants.

The financial industry remains the toughest place for CEOs, with 19 leaving the job last month. Even though the situation has gotten easier, this industry still has the highest turnover. For the year, approximately 10% of all CEO departures (106) have been in the financial sector. "The financial industry is still incredibly volatile, as both October and September saw major announcements from leading companies including JP Morgan Chase (JPM), Bank of America (BAC) and last month's bankruptcy of CIT Group, which led to the exit of CEO Jeffrey Peek," John A. Challenger, chief executive officer of Challenger, Gray & Christmas, says.

Continue reading CEO turnover down, not out

CEO turnover down, not out originally appeared on BloggingStocks on Fri, 13 Nov 2009 16:40:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>bank of americaBankOfAmericaceoceo compensationceo payceoschallenger gray christmasChallengerGrayChristmascit groupexecutive compensationexecutive payexecutive salaryfinancial industryinthenewsjeffrey peekJeffreyPeekjpmjpmorganjpmorganchasejpmorganchasejpmturnoverFri, 13 Nov 2009 16:40:00 EST<![CDATA[Former Bank of America director says give CEO job to insider]]>http://www.bloggingstocks.com/2009/11/11/former-bank-of-america-director-says-give-ceo-job-to-insider/http://www.bloggingstocks.com/2009/11/11/former-bank-of-america-director-says-give-ceo-job-to-insider/http://www.bloggingstocks.com/2009/11/11/former-bank-of-america-director-says-give-ceo-job-to-insider/#commentsFiled under:

And now we're back with more from the "Who the hell cares what he thinks?" file:

Former Bank of America (NYSE: BAC) lead director Temple Sloan tells Bloomberg that the company should pick an insider from Bank of America to be its next CEO -- because an outsider wouldn't be familiar with how the company (doesn't) work. He supports handing the job to Brian Moynihan, consumer banking head, or Barbara Desoer, who runs home loans and insurance.

Interesting ideas! Why isn't Mr. Sloan still on the board of directors?

Continue reading Former Bank of America director says give CEO job to insider

Former Bank of America director says give CEO job to insider originally appeared on BloggingStocks on Wed, 11 Nov 2009 15:00:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>BACBank of AmericaBankOfAmericaBrian MoynihanBrianMoynihaninthenewsmerrill lynchMerrillLynchTemple SloanTempleSloanWed, 11 Nov 2009 15:00:00 EST<![CDATA[Bank of America delays CEO announcement]]>http://www.bloggingstocks.com/2009/11/02/bank-of-america-delays-ceo-announcement/http://www.bloggingstocks.com/2009/11/02/bank-of-america-delays-ceo-announcement/http://www.bloggingstocks.com/2009/11/02/bank-of-america-delays-ceo-announcement/#commentsFiled under:

After taking way too long to send CEO Ken Lewis packing, Bank of America (NYSE: BAC) is now taking way too long to find a successor.

Charlie Gasparino reports that "The board of directors of Bank of America is likely to delay a much-anticipated announcement of a replacement for CEO Ken Lewis until next week, an effort people close to the bank say, to conduct a wide-ranging search for the bank's next leader and appease some investors and analysts who want an experienced outsider to replace Lewis."

The problem is that Bank of America is having trouble finding qualified outside candidates -- because few sane people have a desire to walk into the mess that the current regime at the company has created.

Continue reading Bank of America delays CEO announcement

Bank of America delays CEO announcement originally appeared on BloggingStocks on Mon, 02 Nov 2009 15:40:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>BACBank of AmericaBankOfAmericaMon, 02 Nov 2009 15:40:00 EST<![CDATA[Housing market to dip again next year; Goldman says by 10%]]>http://www.bloggingstocks.com/2009/10/27/housing-market-to-dip-again-next-year-goldman-says-10/http://www.bloggingstocks.com/2009/10/27/housing-market-to-dip-again-next-year-goldman-says-10/http://www.bloggingstocks.com/2009/10/27/housing-market-to-dip-again-next-year-goldman-says-10/#commentsFiled under: , , ,

If you've become comfortable with the current state of the housing market ... don't. Economists at Goldman Sachs (NYSE: GS) and Bank of America's Merrill Lynch (NYSE: BAC) say there's still plenty of risk in the housing market.

Alec Phillips, the head of Goldman's Washington office, said, "The risk of renewed home price declines remains significant." His "working assumption" is a drop of between 5% and 10% by the middle of next year.

Continue reading Housing market to dip again next year; Goldman says by 10%

Housing market to dip again next year; Goldman says by 10% originally appeared on BloggingStocks on Tue, 27 Oct 2009 10:20:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>bacbank of americaBankOfAmericafeaturedforeclosuresgoldman sachsGoldmanSachsgshome pricesHomePriceshousing marketHousingMarketmerrill lynchMerrillLynchmortgage backed securitiesMortgageBackedSecuritiesmortgagesTue, 27 Oct 2009 10:20:00 EST<![CDATA[JPMorgan Chase crushes third-quarter earnings forecast]]>http://www.bloggingstocks.com/2009/10/14/jpmorgan-chase-crushes-third-quarter-earnings-forecast/http://www.bloggingstocks.com/2009/10/14/jpmorgan-chase-crushes-third-quarter-earnings-forecast/http://www.bloggingstocks.com/2009/10/14/jpmorgan-chase-crushes-third-quarter-earnings-forecast/#commentsFiled under: , , ,

Tuesday morning greeted us with earnings from banking behemoth JPMorgan Chase (NYSE: JPM). The company said it earned $3.59 billion and that it nearly doubled the amount of money it saved for loan losses in the third quarter.

Breaking the results down into per-share earnings, JPM trounced the consensus estimate. The bank earned 82 cents per share, nearly double the expected 49 cents per share. Quarterly revenue increased to $26.62 billion from last year's same-quarter revenue of $14.74 billion.

Continue reading JPMorgan Chase crushes third-quarter earnings forecast

JPMorgan Chase crushes third-quarter earnings forecast originally appeared on BloggingStocks on Wed, 14 Oct 2009 08:30:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>bacBank of AmericaBankOfAmericacCitigroupfinancial sectorfinancial stocksFinancialSectorFinancialStocksinthenewsjpmJPMorgan ChaseJpmorganChaseWed, 14 Oct 2009 08:30:00 EST<![CDATA[What a deal! Office rents drop as demand slows ]]>http://www.bloggingstocks.com/2009/10/07/what-a-deal-office-rents-drop-as-demand-slows/http://www.bloggingstocks.com/2009/10/07/what-a-deal-office-rents-drop-as-demand-slows/http://www.bloggingstocks.com/2009/10/07/what-a-deal-office-rents-drop-as-demand-slows/#commentsFiled under: , , , ,

Starting your own business? Need some extra space for your needlepoint habit? You're in luck ... office space comes cheap these days. In fact, rent for office space is sliding lower at the fastest rate since 1995. In the third quarter, office rents dropped 8.5% on a year-over-year basis.

Falling prices typically go hand in hand with falling demand and in fact, vacancies are on the rise as layoffs increase. New York-based real-estate research firm Reis says the office vacancy rate has hit a five-year high of 16.5%. Last quarter, tenants returned 19.6 million square feet of commercial rental space to their landlords.

Continue reading What a deal! Office rents drop as demand slows

What a deal! Office rents drop as demand slows originally appeared on BloggingStocks on Wed, 07 Oct 2009 12:40:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>bacbank of americaBankOfAmericabanksccommerical real estateCommericalRealEstateregional banksRegionalBanksrentalswfcWed, 07 Oct 2009 12:40:00 EST<![CDATA[Bank of America's top pick for a new CEO? The one who created this mess]]>http://www.bloggingstocks.com/2009/10/07/bank-of-americas-top-pick-for-a-new-ceo-the-one-who-created-th/http://www.bloggingstocks.com/2009/10/07/bank-of-americas-top-pick-for-a-new-ceo-the-one-who-created-th/http://www.bloggingstocks.com/2009/10/07/bank-of-americas-top-pick-for-a-new-ceo-the-one-who-created-th/#commentsFiled under:

The Wall Street Journal reports on the top two in-house candidates to succeed CEO Ken Lewis on an interim basis: "The inside candidates are Bank of America (NYSE: BAC) Chief Risk Officer Gregory Curl and Brian Moynihan, the Charlotte, N.C., bank's consumer and small-business banking chief, these people said."

That's right: The guy who was chief risk officer when the company went from being one of the most powerful financial titans in the world to being one of America's biggest welfare recipients.

To borrow a line from tennis great John McEnroe, you cannot be serious. Mr. Curl was the lead negotiator for Bank of America during the negotiations to acquire Merrill Lynch. And what a fine job he did, helping the company to overpay badly for a toxic asset that it could have had for a heck of a lot less money a few days later.

Continue reading Bank of America's top pick for a new CEO? The one who created this mess

Bank of America's top pick for a new CEO? The one who created this mess originally appeared on BloggingStocks on Wed, 07 Oct 2009 09:00:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>BACBank of AmericaBankOfAmericainthenewsWed, 07 Oct 2009 09:00:00 EST<![CDATA[Ken Lewis hits the pension jackpot]]>http://www.bloggingstocks.com/2009/10/02/ken-lewis-hits-the-pension-jackpot/http://www.bloggingstocks.com/2009/10/02/ken-lewis-hits-the-pension-jackpot/http://www.bloggingstocks.com/2009/10/02/ken-lewis-hits-the-pension-jackpot/#commentsFiled under:

In a capitalist society, Milton Friedman and most other economists would tell you, the best way to get rich is to create a lot of value for other people.

But failing that, you can also get really rich destroying value for other people as well. Fortune's Colin Barr reports that Mr. Lewis will exit to $53 million in pension benefits -- which equates to about $3.5 million per year for the rest of his life. People who bought shares in Bank of America (NYSE: BAC) when Lewis took over in 2001are still badly in the red on their stake in the company.

Continue reading Ken Lewis hits the pension jackpot

Ken Lewis hits the pension jackpot originally appeared on BloggingStocks on Fri, 02 Oct 2009 15:00:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>BACBank of AmericaBankOfAmericaKen LewisKenLewisFri, 02 Oct 2009 15:00:00 EST<![CDATA[Bank of America execs facing charges ]]>http://www.bloggingstocks.com/2009/09/14/bank-of-america-execs-facing-charges/http://www.bloggingstocks.com/2009/09/14/bank-of-america-execs-facing-charges/http://www.bloggingstocks.com/2009/09/14/bank-of-america-execs-facing-charges/#commentsFiled under: ,

Let's dive into the world of breaking news here, as the New York Attorney General's office has decided to mark the one-year anniversary of the financial meltdown by preparing charges against some Bank of America (NYSE: BAC) executives. Reportedly, the charges stem from the failure to disclose details about the company's acquisition of Merrill Lynch.

The Attorney General (Andrew Cuomo) is likely to file charges against the executives because of their failure to alert shareholders to mounting losses and accelerated bonus payments at Merrill. Earlier, a federal district judge rejected a $33-million settlement between BAC and the SEC over the same executive bonuses. This settlement was in relation to the fact that BAC did not inform shareholders of an agreement to pay Merrill Lynch execs billions of dollars worth of bonuses, the deal was struck before BAC acquired Merrill.

Continue reading Bank of America execs facing charges

Bank of America execs facing charges originally appeared on BloggingStocks on Mon, 14 Sep 2009 17:00:00 EST. Please see our terms for use of feeds.

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