For weeks, Goldman Sachs has been swinging in the wind as the SEC charges were made, Senate hearings (chest pounding) were conducted and it was announced that the DOJ was investigating Goldman and the rest of the Wall Street banking club.

This week, I posted How Much Further Can Goldman Sachs Drop? at the behest of one of our editors. Today, amid the rumors that settlement talks are under way between Goldman Sachs and the SEC, I am wondering how much the stock will bounce when rumors become reality? I would bet a lot. I have bet a lot.

Continue reading Get Ready for Goldman Sachs to Bounce!

Get Ready for Goldman Sachs to Bounce! originally appeared on BloggingStocks on Sat, 22 May 2010 14:40:00 EST. Please see our terms for use of feeds.

Continental Airlines (NYSE: CAL) just got the relief it needs to compete. Despite resistance from the Department of Justice (which can only recommend), the Department of Transportation has granted the airline immunity from antitrust laws. This clears the way for Continental to work with United Airlines (NASDAQ: UAUA) -- and other carriers -- on international routes. Now, the airline can join Star Alliance, which already has antitrust immunity.

At the same time, DOT approved a joint venture among Continental, United, Lufthansa (OTC: DLAKY) and Air Canada. This new relationship would involve trans-Atlantic routes.

Continue reading DOT overrides Justice, Continental Airlines wins antitrust relief

DOT overrides Justice, Continental Airlines wins antitrust relief originally appeared on BloggingStocks on Mon, 13 Jul 2009 14:20:00 EST. Please see our terms for use of feeds.

Continental Airlines (NYSE: CAL) is seeking immunity from antitrust laws to work more closely with United Airlines (NASDAQ: UAUA) and others on international routes. And, since airlines operate in a state of seemingly perpetual turmoil, what's the harm? According to the Justice Department: plenty.

The airline sought broad immunity as part of an effort to join Star Alliance, which includes US Airways, Lufthansa (OTC: DLAKY), and Air Canada -- along with United. Continental believes that it needs to join Star Alliance in order to remain competitive, especially with airlines that have this type of immunity already.

Continue reading Justice Department pushes back on Continental immunity request

Justice Department pushes back on Continental immunity request originally appeared on BloggingStocks on Tue, 30 Jun 2009 08:00:00 EST. Please see our terms for use of feeds.

FCC now decides if satellite radio lives or dies originally appeared on BloggingStocks on Mon, 24 Mar 2008 17:15:00 EST. Please see our terms for use of feeds.

Clear Channel secures an approval, closer to closing merger originally appeared on BloggingStocks on Wed, 13 Feb 2008 18:20:00 EST. Please see our terms for use of feeds.

Alberto Gonzales, probably the most incompetent and unpopular attorney general in history, resigned today effective September 17. This move is long, long overdue.

The Bush Administration is so out of touch with the American Public that it's frigtening. The anonymous official who leaked the resignation to the New York Times said, "The unfair treatment that he's been on the receiving end of has been a distraction for the department."

Oh brother.

People who are worried about negative publicity shouldn't do negative things.

Continue reading Alberto Gonzales should have quit long ago

Alberto Gonzales should have quit long ago originally appeared on BloggingStocks on Mon, 27 Aug 2007 11:10:00 EST. Please see our terms for use of feeds.

The hypocrisy is stunning.

Microsoft Corp. (NASDAQ: MSFT) is saying that Google Inc. (NASDAQ:GOOG) acquisition of DoubleClick could lead to privacy issues for online consumers. Microsoft has asked regulators to look into the deal.

"This proposed acquisition raises serious competition and privacy concerns in that it gives the Google-DoubleClick combination unprecedented control in the delivery of online advertising, and access to a huge amount of consumer information," said Brad Smith, Microsoft's chief legal counsel, in a statement. "We think this merger deserves close scrutiny from regulatory authorities to ensure a competitive online advertising market."

Rather than add my voice to the chorus of shock on this one, I'll just quote what other pundits are saying.

"Microsoft as the pot; Google as the Kettle" -CNBC's Jim Goldman

"How's this for the pot calling the kettle black" - ComputerWorld's Preston Galla

"Talk about the pot calling the kettle black." Wall Street Journal's James B. Stewart

The sentiment is right but these guys need to find a new cliche.

Is Microsoft seriously accusing someone else of antitrust violations? originally appeared on BloggingStocks on Wed, 18 Apr 2007 13:51:00 EST. Please see our terms for use of feeds.

The recent tidal wave of private equity deals may be attracting the attention of federal antitrust regulators, according to the Wall Street Journal.

General Electric Co. (NYSE:GE) has told buyers interested in its plastics unit, which is valued at as much as $10 billion, that they "face restrictions on their ability to team up with other private-equity buyers," the paper said.The exact nature of these restrictions isn't clear but you can bet that the bankers are complaining loudly about them.

At issue are so-called private equity clubs where two or more firms join forces to bid on large deals, such as GE's plastics business, to spread out the risk, the Journal said, adding that "some takeover professionals have voiced concern that clubs may also limit the number of competing bidders and the value of potential bids."

You can be that GE isn't alone. It also wouldn't surprise me if the DOJ was reviewing past private equity deals involving clubs going back a few years. Antitrust regulators are probably going to look for a pattern of behavior. Whether they will find one won't become apparent for a while yet. Meanwhile, bankers, who aren't the type that get scared easily, are no doubt emailing that Journal article around to their colleagues and wondering what's going to happen next.

Jonathan Berr is editor of http://www.desperateinvestors.com.

Federal government may be taking a closer look at private equity deals originally appeared on BloggingStocks on Tue, 09 Jan 2007 07:57:00 EST. Please see our terms for use of feeds.