LaSalle

ALSO NOTED: Fitch puts Countrywide on evolving credit watch; Bank of America ready to integrate LaSalle; and much more...

Tue, 06 May 2008 06:59:50 -0400

Company News:
> Interactive Brokers Group to sell shares in Dutch auction. Article
> Fitch puts Countrywide on evolving credit watch. Article
> Ladenburg Thalmann buys Punk, Ziegel & Co. Article
> First Marblehead to slash jobs, costs. Article
> More on Citigroup's Old Lane funds redemptions. Article
> Bank of America ready to integrate LaSalle. Article
> Eddie Lampert faces his shareholders. Article

Industry News:
> Asia pools $80 billion to address liquidity issues. Article

Regulatory News:
> Feds create subprime crime task force. Article
> SEC lowers the boom on Safevest commodities fund. Article

And Finally... Five ways to protect your job in tough times. Article

SPOTLIGHT: RBS

Thu, 11 Oct 2007 06:59:52 -0400

Well, after a whole lot of fighting, RBS has emerged victorious in the battle for ABN--the largest takeover in history. Bank of America also won, as it was able to buy LaSalle after all. Article | Unfortunately, RBS remains among the most exposed to the private equity slowdown. Article

ALSO NOTED: Goldman Sachs invests in Nordic Windpower; Citigroup and Merrill invest in Indian exchange; and much more...

Tue, 02 Oct 2007 06:59:50 -0400

Company News:
> Citigroup and Merrill invest in Indian exchange. Article
> Goldman Sachs invests in Nordic Windpower. Article
> Bank of America completes LaSalle deal. Article
> Wachovia completes A.G. Edwards deal. Article
> Citigroup ratings affirmed by S&P and Fitch. Article
> Perella to buy Xerion hedge fund. Article

Industry News:
> Hedge funds recover a bit in September. Article
> What's next for high-yield bonds. Article
> Leveraged loan recovery may wait until 2008. Article
> Hedge fund suit against counsel to move forward. Article
> Suit filed to halt Reddy deal vote. Article
> Treasuries benefit from banking concerns. Article

And Finally... Big signs you should get a new job. Article

SPOTLIGHT: Bank of America Layoffs

Wed, 26 Sep 2007 06:59:52 -0400

It was big news when Bank of America prevailed in its attempt to buy LaSalle. Now comes the flip side. The banks will lay off 2,500 in Illinois over the next two years. Article

ALSO NOTED: Former Goldman Sachs team broken up at Fulcrum; Lehman wins in CalPERS share lending program; and much more...

Mon, 17 Sep 2007 06:59:50 -0400

Company News:
> Lehman wins in CalPERS share lending program. Article
> Bank of America offers special refinancing deals. Release l Article
> Barclays shareholders approve ABN deal. Article
> Former Goldman Sachs team broken up at Fulcrum. Article

Industry News:
> Commercial paper market shows signs of recovery. Article
> Analyst warned of subprime mess early. Article
> Few top companies answer investor emails. Article
> NASDAQ might bid for OMX. Article

Regulatory News:
> Bank of America deal for LaSalle okayed. Article

And Finally... Business school students learn how to dress for success. Article

ALSO NOTED: NYMEX confirms merger talks with the NYSE?; Carry traders making a comeback?; and much more...

Thu, 23 Aug 2007 06:59:50 -0400

Company News:
> Marketing: RBC to hire student bloggers. Release
> NYMEX confirms merger talks with the NYSE? Article

Industry News:
> Carry traders making a comeback? Article
> Bank profits dip in Q2. Article
> Business Week to start Chicago monthly. Article

Regulatory News:
> Fed's clear Bank of America-LaSalle deal. Article

And Finally... Should you stay connected on vacation? Article

RBS sweetens bid for ABN Amro

Sun, 15 Jul 2007 20:01:36 -0400

You've got to wonder about the new bid by the Royal Bank of Scotland-led consortium for ABN Amro. It said all along that LaSalle was the main prize in its efforts to buy the Dutch giant; it intended to use the purchase to grow in the United States. But then the courts ruled that ABN could go ahead with its plans to sell LaSalle to Bank of America. But the RBS Group has decided to sweeten its bid for the bank by boosting significantly the cash portion (to more than 90 percent from around 80 percent before) of its near $100 billion bid. RBS execs said the bank never considered giving up. So the court decision effectively boosted the value of all non-LaSalle assets it seems. You have to think that the assets are favorably valued right now. Barclays may have to go higher itself or give up the game.

For more:
- here's an article from The Times

SPOTLIGHT: Bank of America Victory?

Sun, 15 Jul 2007 20:01:32 -0400

A Dutch court has ruled that ABN Amro can sell its LaSalle unit to Bank of America, which is surely applauding. What happens to ABN Amro is still up in the air. All eyes are on RBS. Article

ALSO NOTED: S&P revises high yields ratings methods; CBOE adds credit derivatives; and much more...

Sun, 10 Jun 2007 20:01:30 -0400

Company News:
> Rydex nears a deal. Article
> Bank of America says LaSalle decision was "a shock." Article

Industry News:
> Bill Gross: Economy to rebound. Article
> CBOE adds credit derivatives. Article
> S&P revises high yields ratings methods. Article
> Amaranth says pension knew the risks. Article
> CEOs fare well in mergers no matter what. Article

Regulatory News:
> Japan to raise fines for accounting fraud? Article
> JC Flowers seeks more control of Sallie Mae. Article

And Finally... How to answer a tough questions from your boss. Article

Bank of America, RBS no longer talking

Tue, 05 Jun 2007 20:01:36 -0400

An ABN Amro update: It's still unclear who will emerge the victor in what would be the largest deal in history, close to $100 million. But Sir Fred Goodwin, CEO of Royal Bank of Scotland, did say that talks between Bank of America and RBS over LaSalle, the Chicago-based unit of ABN Amro, were no longer going on. Apparently, the two sides did not agree on a price, which is not surprising. One could argue that the whole point of RBS's gambit is to establish a larger beachhead in the lucrative U.S. retail market. LaSalle would fit nicely with those plans. Of course, they would fit nicely with Bank of America's as well. So the fate of LaSalle is also unclear. A key court decision is coming in July. This is really dragging on.

For more:
- here's the Financial Times article