OK, we have another bubbling scandal. According to a Wall Street Journal article, executive search firm Spencer Stuart, is getting all of the government’s business. The Journal reports they are the go to search firm when the feds need someone to fill a board seat or be the CEO of their growing portfolio of companies. [...]
Archive for August 5th, 2009
Here’s an item that should at least provide fodder to Zero Hedge and Matt Taibbi. The Wall Street Journal calculates that Wall Street firms stand to collect about $1 billion in fees from the Fed and AIG for services they provide in restructuring the company. Wall Street banks and lawyers could collect nearly $1 billion [...]
John Hempton has some interesting thoughts on the size of the boost to GDP from an inventory rebuild: Whilst there are inventory shortages in far more important industries (see this story from the WSJ about auto-dealer inventory shortages) they won’t quite be of the scale of Brunswick. But the risks to the inventory driven manufacturing economy [...]
Barry Gosin of Newmark Knight Frank talks about the state of commercial real estate. As tood a non-technical recap of the state of commercial real estate as you’re going to find. Listen and hold on.
Deutsche Bank and the Wall Street Journal are out with some numbers that paint a grim picture of the negative equity position of the nation’s homeowners. The numbers don’t add up precisely but the implications are pretty much the same. From the WSJ: Some 24% of owner-occupied homes had mortgage debt that exceeded the values [...]
This is a bit bizarre and there’s probably a lot more to it than appears on the surface. The WSJ is reporting that Taylor, Bean & Whitaker, the 12ht largest mortgage company in the US, has announced that it is immediately terminating its mortgage lending business. Taylor, Bean & Whitaker Mortgage Corp. announced that it [...]
A graph you’ve no doubt seen before but still worth revisiting. It traces the ISM Index over the past 60 years or so. A couple things pop out at me. One, historically, once the index starts moving up it tends to continue on that slope for a reasonable period of time. You don’t see moves [...]