Posts filed under “Financial Press”
The FT reports that:
“McGraw-Hill could reap just $1 from a sale of Business Week, according to people familiar with the 80-year-old financial magazine’s losses.
The publisher has appointed Evercore, the boutique investment bank, to sell the business after concluding it was non-core, two people familiar with the decision said. McGraw-Hill, which owns the Standard & Poor’s rating agency and a large educational publisher, would only say it was “exploring strategic options” for Business Week. Evercore did not return calls.
Auctioning a predominantly print business exposed to financial advertisers during a media recession will be challenging. According to the Publishers’ Information Bureau, Business Week’s advertising revenues fell by a third to $77.8m in the first half of 2009. The magazine says its circulation is 936,000.”
Perhaps I should bid $2 . . .
Business Week sale may fetch only $1
FT, July 13 2009
Category: Financial Press
Its Monday afternoon — time for a quick linkfest: • Why the ECB Isn’t Acting Like the Fed (Real Time Economics) • CIT Watch: Analysts Says Debt Load Isn’t the Only Problem (MarketBeat) • Lessons Learned (Kirk) • Why Don’t Lenders Renegotiate More HomeMortgages? Redefaults, Self-Cures, and Securitization (Fed Reserve Boston) • The Real AIG…Read More
This caught my eye: “McGraw-Hill Cos. hired Evercore Partners Inc., the boutique investment bank founded by Roger Altman, to sell BusinessWeek magazine, a person close to the situation said. The person declined to be identified because the information isn’t public. Spokesmen for McGraw-Hill and Evercore, which are both based in New York, declined to comment….Read More
The whispers are rampant: Goldman Sachs earnings are gonna top $2 Billion in Q2. On Tuesday, we will learn if they have pulled another rabbit out their hat — along with those $2B net. All the chatter has been about a surprise to the upside. The NYT has an interesting article in Monday’s paper (online…Read More
I will be otherwise occupied on this gorgeous Saturday with my M-in-L’s 85th B-day for whom we are hosting a BBQ /party! In the meantime, here are a few items I have NOT read, but want to get to in the coming days when time allows. • Cash is King: Take It to the Bank: …Read More
Some afternoon linkage before the weekend begins: • Geithner says derivatives blindsided the gov’t (Associated Press) • Beazer Homes, a one-company crime wave (Floyd Norris) • Subprime Resurfaces as Housing-Market Woe (WSJ) • Artificial Stimulus (Dan Gross, Slate) • ECRI on The Great Recession (2008-2010) (Canada Housing Crash) • Lost ‘Animal Spirits’ May Worsen Economy,…Read More
All good stuff: • A law to tame wild bankers (Guardian) • All of the jobs created in the US this century have been lost (Econbrowser) • Economists Oppose More Stimulus (WSJ) • Shipping industry in deep water (Los Angeles Times) see also Shipping flashes early warning signals again (Telegraph) • Capacity Utilization vs. Inflation…Read More
Category: Financial Press
Some interesting and random linkage: • Hall of Shame: 12 of the Worst Financial Gurus (Bill Shrink) • Wall Street’s Newest Product Is Tale of Denial (Bloomberg) • Quibbles With Quants (Psy-Fi) • Why U.S. Financial Markets Need a Public Credit Rating Agency (Berkeley Electronic Press) • Condo Boards Take On Lenders (WSJ) • Bob…Read More
Some interesting items that caught my fancy: • Picks and Pans From Market Pros (WSJ) • Study: Many Mortgage DefaultsAre Intentional (Time) • Interview: Rolling Stone Matt Taibbi of GS bashing fame (Wall Street Cheat Sheet) • Glut of oil could push gasoline prices back down below $2 a gallon (LA Times) • Oil, Gas…Read More
David Rosenberg has been on Squawk Box for the past hour. He has been dropping the unvarnished Truth on the kids, powering through a basic set of reality regardless of dropped jaws and stunned silence. It has been a thing of beauty to watch. None of the things he is discussing is at all radical….Read More