Anglo Irish Bank (Part 1)
The first in a multipart series looking at the companies and subsidiaries of Anglo Irish Bank, now a State-owned entity. Happily the series almost coincides with the first anniversary of the bank guarantee announcement. Onto the details: First up is Anglo-Irish Bank (Nominees) Ltd . Second a definition: A nominee company is a company formed by a bank or other organisation for the purpose of holding shares on behalf of the beneficial owner. [more...]
Date: 2009-09-29 04:05:42
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Why You Don't Want A "Top Producer" Listing Your Property
The completely frenzied micro-market currently manifesting in the Eastlake area of San Diego is a wonderful illustration of several pieces of advice I consistently give. First, What Happens When You Over-Price Real Estate?: properties priced correctly are getting multiple offers, properties priced a little under are seeing bidding wars, [more...]
Date: 2008-12-22 14:47:11
Experts confused by Dubai's transparency
The Financial Times: An understated press conference to announce details of the 2009 budget should have been a run-of-the-mill event ... us all that wiser in terms of actual spending and debt obligations,” said one economist. “There isn’t much ... the last official figure of about $50bn for 2006. The Dubai government has said its overall debt [more...]
Date: 2009-01-14 02:55:29
Ethics Exam
I have often wondered (never having been to business school myself) what happens in the interim between one's MBA ethics classes and the real world execution of fraud, cheating and malfeasance. Does one's conscience (if they ever had one) merely extinguish one day under the incessant pressure of keeping up with the Paul Tudor-Jones', [more...]
Date: 2009-01-13 21:12:00
Titan Machinery, Inc. – Value – Zacks Rank Buy
Titan Machinery Inc. ( TITN ) reported fiscal second results on Sep 9 that surprised on the Zacks Consensus Estimate by 50%. The agriculture equipment retailer also confirmed its prior fiscal 2010 earnings guidance. Earnings per share rose to 27 cents from 19 cents a year ago. The Zacks Consensus Estimate called for 18 cents per share. Revenues jumped 43.2% to $193.2 million from $134.9 million in the year ago period. All three of the company's segments saw growth in the quarter. [more...]
Date: 2009-09-28 05:00:00
The Global Capitalist Crisis & India
The following is an editorial from Analytic Monthly Review. Published in Kharagpur, West Bengal, India, is a sister edition of Monthly Review. From the mrzine site.At Kasama, we are eager to see creative new work analyzing how global capitalism now operates in major Third World countries — and what that means for revolutionary possibilities and [more...]
Date: 2009-01-13 15:03:48
Wednesday Options Update: WFC, HBC, MON, FDO
Wells Fargo & Co. (WFC) – Banking stocks took a punch in the gut when Oppenheimer’s rather accurate banking analyst forecast further loan loss ... . Included in the dispatch was Wells Fargo, but as if that wasn’t enough, ratings agency Moody’s cut its senior debt rating based on indigestion of Fargo’s acquisition of Wachovia last year, which might [more...]
Date: 2009-01-07 17:59:15
Wednesday Options Update: WFC, HBC, MON, FDO, LAMR
Wells Fargo & Co. (WFC) – Banking stocks took a punch in the gut when Oppenheimer’s rather accurate banking analyst forecast further loan loss ... . Included in the dispatch was Wells Fargo, but as if that wasn’t enough, ratings agency Moody’s cut its senior debt rating based on indigestion of Fargo’s acquisition of Wachovia last year, which might [more...]
Date: 2009-01-07 18:41:15
Fix Bad Credit
by John Cooper You do not have to just wait for negative marks on your credit report to fall off. You can remove them and improve your credit score ... card account the debt has been sold to a collection agency, and the lender has no need to save any ... dispute information requests, and debt validation. You can also help your credit score by opening [more...]
Date: 2009-01-14 19:07:31
Lending Woes: A Deeper Consumer Analysis
This may seem like an odd analogy, but I remember this story about my Mom when she was having her 7th baby. She was in “a ward” with only curtains drawn around each bed. She overheard some people telling the lady in the bed next to her that she should have “her tubes tied”. They were explaining the procedure to her [more...]
Date: 2008-12-29 21:19:46
Top Ten Things to Know if You’re Interested in a Reverse Mortgage
Reverse Mortgages are becoming popular in America. The U.S. Department of Housing and Urban Development (HUD) created one of the first ... that lets a homeowner convert a portion of the equity in his or her home into cash. The equity built up over years of home mortgage payments can be paid to you. But unlike a traditional home equity loan [more...]
Date: 2009-01-15 19:53:15
The Massachusetts Mess
By The Honorable Arlene Wohlgemuth News coming out of the Massachusetts experiment with “socialized medicine lite” – the combination of insurance coverage that is free, subsidized, or mandatory to make it near universal – continues to be distressing for reasons other than the predictable, ever-escalating cost to the state [more...]
Date: 2009-01-15 19:10:42
China to Relax Bad Debt Rules to Encourage Lending
In another sign that China's slump is serious enough to evoke crisis responses from the officialdom, ... . The objective is to encourage banks to continue to extend credit to borrowers experiencing short-term ... ,” said Liao Qiang, the rating company’s Beijing-based analyst, in an interview. “Governments tend [more...]
Date: 2009-01-12 06:19:21
Dow Chemical’s Tale of Woe
Sometimes, it feels like the whole world is working against you. If Dow Chemical CEO Andrew Liveris is thinking that, maybe he’s right. Suddenly his pending $15 billion acquisition of rival Rohm & Haas looks like an uphill battle, with myriad competing interests who can’t all be kept happy [more...]
Date: 2009-01-02 12:53:00
Dow Chemical’s Tale of Woe
Sometimes, it feels like the whole world is working against you. If Dow Chemical CEO Andrew Liveris is thinking that, maybe he’s right. Suddenly his pending $15 billion acquisition of rival Rohm & Haas looks like an uphill battle, with myriad competing interests who can’t all be kept happy [more...]
Date: 2009-01-02 12:53:00
Weighted Average Cost of Capital Doesn't Include Everything
Or: Figures don't lie, but Liars Sure do Figure! We've got a lot of people with loans in the low fives, interest rate wise, ... : $350,000 first at 5.25% $100,000 second at 8.5% $50,000 consumer debt at 12% This person then used ... that there's enough equity in the property to absorb the full amount of excess debt without PMI. Robert [more...]
Date: 2009-01-11 17:50:23
FHA Mortgage Insurance Fund Down 40%
Mortgage Law Central reports today on FHA’s Oversight Capability. The House Committee on Financial Services held a hearing to look into the recent Business Week story alleging that predatory lenders are alive and well originating FHA loans. The committee listened to testimony from HUD on the approval process for FHA lenders, [more...]
Date: 2009-01-14 22:30:06
Lennar sues ex-con who questions O.C. exec’s mortgage
Jaffe (Register photo) Lennar Corp. said today it added an ex-con who became a fraud detective to an existing federal lawsuit, ... since it comes on top of about $5 million in existing debt on the property. He intimates that the loan could be a “disguised kick-back” by mortgage broker Robert Venneri, possibly because Lennar [more...]
Date: 2009-01-15 01:56:17
Stimulus Plan: The Need and the Size
The core problem we face is not access to capital. The Treasury has already flooded Wall Street and the banking system with money, committing nearly $350 billion; the Federal Reserve Board has exchanged Treasury bills for some $2.2 trillion of troubled assets; other agencies, such as the FDIC, have guaranteed trillions more [more...]
Date: 2009-01-06 14:05:44
Will All Be Well, And End Well, In Estonia?
by Edward Hugh: Barcelona Well, there doesn't seem to much room for doubt at this point does there, the Baltic Economies are in the van of the European economic slowdown for 2009, just as they were leading the charge up in 2007, and all that debate about whether we were going to get a hard landing or a soft one seems now so out of date and and [more...]
Date: 2009-01-13 16:04:03
2008: Annus Horribilis, RIP
I meant to take yet another Friday away from my writing, but as I am researching for next week’s annual prediction issue, there is so much material that begs to be covered that I thought I would put out a short letter with 3 or 4 points as a preface to my prognostications of next week [more...]
Date: 2009-01-03 12:42:15
At Meredith Corp., “Improvement Plan” Leads to Big Raises
Publishing companies are still taking a beating, and that’s certainly true at Meredith Corp. (MDP), the Iowa-based media giant that owns 12 television stations and a radio station; it also publishes books and countless magazines, including classics such as Ladies’ Home Journal, Better Homes and Gardens, and Family Circle. [more...]
Date: 2009-09-28 05:48:27
Bush Ties Stalin and Other Numbers From The Bush Years
Some numbers from Harper’s Index: Percentage of Bush’s first 189 appointees who also served in his father’s administration: 42 Minimum number of Bush appointees who have regulated industries they used to represent as lobbyists: 98 Years before becoming energy secretary that Spencer Abraham cosponsored a bill to abolish the Department of Energy: [more...]
Date: 2009-01-15 00:13:05
Will All Be Well, And End Well, In Estonia?
Well, there doesn’t seem to much room for doubt at this point does there, the Baltic Economies are in the van of the European economic slowdown for 2009, just as they were leading the charge up in 2007, and all that debate about whether we were going to get a hard landing or a soft one seems now so out of date and and old hat as we watch how [more...]
Date: 2009-01-13 15:59:56
How gullible are we?
Scrolling through the $825 billion dollar monstrosity, my first question is–how many unemployed construction workers do they think there are? Don’t they realize that they will be competing with the private sector beyond those currently unemployed? We signed our name to a blank check. (CEI opposed it.) [more...]
Date: 2009-01-15 21:43:17
Crist to lawmakers: Cut less, borrow more
Gov. Charlie Crist carefully avoids direct criticism of the Legislature ... that I have is that we make these reductions without hurting the end user: the student. So we're watching closely," said ... of economic development experts to a "Tallahassee Tuesday" discussion of a new $10-million loan program [more...]
Date: 2009-01-06 16:06:09
Crist to lawmakers: Cut less, borrow more
Gov. Charlie Crist carefully avoids direct criticism of the Legislature ... that I have is that we make these reductions without hurting the end user: the student. So we're watching closely," said ... of economic development experts to a "Tallahassee Tuesday" discussion of a new $10-million loan program [more...]
Date: 2009-01-06 15:56:15
My Predictions for 2009… and What I Got Wrong in 2008
Hi Guys, Happy New Year! It’s been a while since we last caught up. I hope you are well and that you had a wonderful holiday and a very happy New Year. I was on vacation for the holidays. We had a terrific break. We took our three boys to Disney World. What a treat! We go once a year usually around President’s Day weekend [more...]
Date: 2009-01-06 21:43:37
Portugal Sustains
“Art has a function of teaching about the human condition. We live in hope, hope is fundamental” - Manoel de Oliveira Manoel de Oliveira (photo and quote above) is a living example for the Potuguese people of how to force their way out of the low growth/low per capita income trap into which they have steadily stuck their neck [more...]
Date: 2009-01-12 14:37:23
Travelling Through Latvia In Good Company (Ultra-Wonkish)
Well, it seems I’m not the only one who thinks that the IMF have made a bad decision over Latvia, ... devaluation and a real depreciation achieved through deflation should have exactly the same effect on debt service (unless some of the debt is in lats rather than euros, in which case devaluation would do less [more...]
Date: 2008-12-24 10:51:43
Stumble or fall?
Emerging marketsStumble or fall?Will the global financial crisis halt the rise of emerging economies?NOBODY talks about “decoupling” any more. Instead, emerging economies are sinking alongside developed ones. In 2008 emerging stockmarkets fell by more than those in the rich world, and financial woes forced countries such as Hungary, [more...]
Date: 2009-01-13 16:20:00
DrumBeat: December 31, 2008
The Peak Oil Crisis: Civil Unrest Before grappling with 2009, it might be useful to remind ourselves that there is a dark side to what lies ahead. There was a little flurry in the news last week when it was discovered that the Army War College had released a report talking about preparing for civil unrest in the U.S [more...]
Date: 2008-12-31 13:58:02
Resolution #9: We will return the Favor to our Bank
Resolution #9: We will return the Favor to our Bank A lot of blame is being put on the financial industry for getting the country into this ... to pull out of loan agreements or persuade Company’s not to draw down on credit facilities. As the economy worsens, more Companies will be at risk for failing banking covenants, especially on debt [more...]
Date: 2009-01-15 13:30:57
Cuervo’s Indicator Updates Jan 14, 2009
As mentioned last night, yesterday the Agosto indicator (for using the UUP to signal long/short signals on DOG) sparked off and today DOG was up 3% due to a bunch of reasons that are too lengthy to list. The Qsinator version 3 (aka wakisashi) is still riding the buy signal from Jan 8 and looks to post it’s first loss of the year as the average [more...]
Date: 2009-01-15 04:58:44
Economic Potpourri December 27, 2008
The barrage of noteworthy economic news continues through the holiday season ... or more weeks ago, had been counting on post-Christmas sales to help rescue what will probably ... - and credit-constrained than ever before. After a 25-year spending tsunami, they’ve shifted from spending [more...]
Date: 2008-12-27 22:24:00
Free Helpful Advice - Can The Hope For Home Ownership Relief Act Really Help Homeowners Avoid Foreclosure?
My take on this bill is that it will be a another government run fiasco ... be at least 31 percent; * They cannot afford their current loan; * They did not intentionally miss ... the new program include: * 30-year, fixed rate mortgage; * Maximum 90 percent loan-to-value ratio [more...]
Date: 2009-01-15 07:36:03
Loan Plan Gets Things in Order
Recently, a plethora of apps that help people manage their personal finances have found their way to the App Store ... Loans. Credit Capacity allows you to tap in your monthly income plus your debt. It asks what you want your maximum debt to income ratio to be. Then it gives you your credit capacity, current debt [more...]
Date: 2009-01-15 01:00:36
Focus On Clean Power Income Trusts
Last week, Tom brought you a piece on the Algonquin Power Income Fund (AGQNF.PK), in which he opined that shift in investor attention away from capital gains toward yield might eventually provide a catalyst for the prices of yield-focused securities such as income trusts to rise [more...]
Date: 2009-01-14 03:04:41
Yahoo stock: Still not worth it
Yahoo CEO Jerry Yang is stepping down and Carol Bartz has taken the reins as the company's new CEO. Most hope that she can fix Yahoo and return it to the place of dominance it once enjoyed. Or failing that, at least move it back into favor with shareholders. This will be difficult [more...]
Date: 2009-01-15 12:00:00
Credit - Loan Approval, Part 1
When it comes to loan approval, lenders will use different criteria for different situations. Unsecured debt is riskier than secured debt in general since there’s no collateral involved in unsecured debt. You see, it’s all about “what happens if you default?” A house or auto is collateral [more...]
Date: 2009-01-15 06:21:33
Useful Advice - Can The Hope For Home Ownership Relief Act Really Help Homeowners Avoid Foreclosure?
My view on this bill is that it will be a dismal failure ... must be at least 31 percent; * They cannot afford their current loan; * They did not intentionally miss ... program include: * 30-year, fixed rate mortgage; * Maximum 90 percent loan-to-value ratio [more...]
Date: 2009-01-15 16:06:21
Erase Bad Credit
by John Cooper If you have bad credit there is hope ... has received some form of payment. For example with a charged off credit card account the debt has been sold to a collection agency, and the lender has no need to save any record of your account. Recent [more...]
Date: 2009-01-14 18:52:30
Refinancing When You Owe More Than The Home Is Worth
I've been looking around for an answer to this but my searches haven't returned anything useful ... now, that's 50% equity even if you didn't have a down payment. So people who bought for $180,000 were refinancing ... $225,000, that's one loan at 6.25%, with a payment of $1089.82. This cuts $86.49 off the monthly [more...]
Date: 2009-01-08 09:54:12
Fazzari on Keynesian Economics
Steve Fazzari, of Washington University in St. Louis, talks with EconTalk host Russ Roberts about Keynesian economics ... About this week's guest: Steve Fazzari's Home page "Household Debt in the Consumer Age: Source of Growth ... of Economics. Government Debt and Deficits, by John Seater. Concise Encyclopedia of Economics. John [more...]
Date: 2009-01-12 11:29:25
Today's Financial Markets News - Jan-14-09
By The Greek - Economy & Markets:Visit the front pages of Wall Street Greek and Market Moving News to see our current coverage of economic reports and financial markets.We've compiled, sorted and analyzed the day's market-moving news for you. Today's financial news highlights: dire December retail sales; diving import & export prices; [more...]
Date: 2009-01-14 18:00:00
Refinancing Your Property with Less Income Then You Had When You Bought
Hello, When my husband and I bought our home 2.5 years ago (two bedroom condo) we qualified for the loan ($250,000) based on both our incomes. Then I had a baby and stopped working. We've never missed a payment or even been late, and we're getting by just fine by being frugal [more...]
Date: 2009-01-12 14:37:32
Credit Crisis Watch: Gaining Positive Traction
In order to gauge the progress being made to unclog credit markets and restore confidence in the world’s financial system, I monitor a range of financial spreads and other measures. By perusing these, as summarized in this “Credit Crisis Watch” review, [more...]
Date: 2009-01-14 11:35:53
Compute Your Net Worth Once a Year
The following is a guest post from Marotta Asset Management ... . The storm has blown you miles off course, and not making any adjustments is destined to end ... money would be left if you converted everything you owned into cash and paid off all your debts [more...]
Date: 2009-01-13 17:34:21
Credit Crisis Watch: Gaining Positive Traction
In order to gauge the progress being made to unclog credit markets and restore confidence in the world’s financial system, I monitor a range of financial spreads and other measures. By perusing these, as summarized in this “Credit Crisis Watch” review, [more...]
Date: 2009-01-14 09:22:42
Credit Crisis Watch: Gaining Positive Traction
In order to gauge the progress being made to unclog credit markets and restore confidence in the world’s financial system, I monitor a range of financial spreads and other measures. By perusing these, as summarized in this “Credit Crisis Watch” review, [more...]
Date: 2009-01-14 13:30:49
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