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Overallotment makes GM IPO largest in World backed by Euro Money
The initial public offering of GM (IPO) is the world's largest at $23.1 billion. The underwriters are open to purchase large dividends of stock making the bid higher than the Agricultural Bank of China's IPO at...
created by UNCENSORED NEWS | 1 year ago | updated 1 year ago
185 views | 0 recommendations | 0 comments
185 views | 0 recommendations | 0 comments
President Obama to Hold Banking Summit Monday
" Click to enlarge. President Barack Obama plans to hold a Banking Summit Monday, according to a Bloomberg report today. Among those participating in the event, said to be a forum for discussing the president’s proposals to boost small-business lending and overhaul... Bank Foreclosure Prevention Program by Citi Up by 20 Percent
The bank foreclosure prevention program of CitiMortgage has been improving significantly. CEO Sanjiv Das also said that the bank has started implementing principal reduction for some deserving borrowers. " The bank...Hassan Nemazee CEO of Nemazee Captial Arrested: CitiGroup Fraud
The Department of Justice has charged Hassan Nemazee, the CEO of Nemazee Capital Corp., for attempting to defraud CitiGroup of $74 million. Hassan Nemazee was stopped by federal agents on Sunday before boarding a plane to Rome. The $74 million loan was secured with forged...Norway Towns Sue Citi Over Losses
Seven Norwegian municipalities are suing Citigroup Inc after losing millions of US dollars on investments. The towns are seeking $200 million in damages together with Norwegian firm Terra Securites. Terra bought the structured notes from Citigroup in May and June 2007, and...Dan Sontag Leaves Merrill Lynch after 30 Years
Dan Sontag will leave Merrill Lynch and Bank of America Corp, after 30 years with the company. This announcement comes one day after the bank hired Sallie Krawcheck, a former Citigroup Inc wealth management executive, but Sontag will stay on for a short time to work with...Citigroup Seeks Reverse Stock Split
Us banking corporation Citigroup, having sucked up $45 billion in bailout money, is considering a reverse stock split, which would give the US government a 36% stake in the financial giant. A reverse stock split is a...Will Allowing Banks to Fail Reduce Foreclosure Homes?
Allow banks to fail. That is what Republican Senators Richard Shelby of Alabama and John McCain of Arizona suggested even if it means shareholders will also suffer as a consequence. " Allowing some big troubled banks to close and funneling the relief funds to the housing... No, Please .... Don't Call It a Bonus! It's a 'Retention Award'!
While CEOs of eight banks sat before Congress on February 11, 2009, one of the CEOs there from Morgan Stanley, attempting to justify their questionable actions after having received Troubled Asset Relief Program...
created by Karen Hatter | 3 years ago | updated 3 years ago
852 views | 78 recommendations | 13 comments
852 views | 78 recommendations | 13 comments
What happens when the ad industry becomes nationalized?
Ad Age is asking some interesting questions about the impact of the various bail outs currently supporting major portions of the US economy. "BATAVIA, Ohio (AdAge.com) -- In the marketing and media industries, it's... Citigroup upgrading mile-high club
What can I say?"Beleaguered Citigroup is upgrading its mile-high club with a brand-new $50 million corporate jet - only this time, it's the taxpayers who are getting screwed. Even though the bank's stock is as cheap as a gallon of gas and it's burning through a $45 billion...Congress Gears Up Two Foreclosure Prevention Bills
Congress has been readying two foreclosure prevention bills to be presented to Barack Obama during his first working days as president in January. " One of the bills would allocate at least $40 billion from the second half of the $370 billion Troubled Asset Relief Program...Citigroup Reports Big Loss and a Breakup Plan
" By MATTHEW SALTMARSH and ERIC DASH Published: January 16, 2009 Citigroup capped a devastating 2008 by announcing Friday that it would split into two entities and that it had posted an $8.29 billion loss for the fourth quarter. Citigroup confirmed that it would... Citigroup Reports $8.29 Billion Loss, Will Split Up
Citigroup has just reported a massive loss for the fourth quarter of 2008, an amount which is much higher than had been expected. As a result, the banking giant is saying it will split up. " Citigroup Inc. posted...
created by Dave Keating | 3 years ago | updated 3 years ago
209 views | 16 recommendations | 4 comments
209 views | 16 recommendations | 4 comments
Obama: Hope of Foreclosure-Troubled Americans
The year 2008 was full of distressing events for Americans and for most other people in the world. Record numbers of homeowners across the country were forced out into the cold after their homes were put into... NowPublic on Facebook
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