Tag:
turnaround
Latest Headlines
Latest Headlines
Morgan Stanley might be turning around trading operations
Morgan Stanley CEO Gorman has said that his "No. 1" priority at the bank is fixing the fixed-income trading unit. The firm turned in a strong performance in the first quarter for trading in general, notching $3.47 billion in sales and trading revenue, more than triple its fourth-quarter figure, ac
Bank CEOs to win big on options
Stock options are supposed to incent top executives to do right by all shareholders. And they are often used to that end. However, there are some iffy uses. A new report notes that the top five executives at the 10 financial institutions that took the biggest taxpayer bailouts have received a big
Ross to tap PPIP, why not others?
Here's a tangible sign that businesses remain wary of government when it comes to financial reform. The government's PPIP offers, on the surface, some very sweet terms for asset management companies to speculate on distressed assets. Some are bent on jumping in. But not enough as of now.
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Wachovia turnaround underway?
The pressure is on for Robert Steel, the new CEO of Wachovia , who has raised the number of jobs the bank will cut. The AP reports that in a quarterly SEC filing, the bank says it expects to eliminate 11,350 positions, including 6,950 active employees and 4,400 open positions. That's about
Richard Bove: Sell Goldman Sachs
Analyst Richard Bove has reiterated his sell recommendation on Goldman Sachs and cut his earnings estimates. For the year ending November 30, he now predicts $14.16 per share, down from his $15.45 estimate. That puts him firmly on the low side. The average estimate (Thomson Financial) is $16.7
The case against a Citigroup break up
A post at Naked Capitalism makes some astute points about the value of a Citigroup break up. A break up only makes sense if parts can be sold in a way that improves the capital position of the remaining entity. Given current valuations, that does not seem likely. Indeed, it's a good bet th
