Archive for July 2nd, 2008

Columbia Business School : Columbia Business School

College of Business & Behavioral Science

Apple - Business

Small Business Lawyer, Attorney, Law, Legal Help - FindLaw for …

Business and Financial News - New York Times

The Arizona Republic

Yellow Pages : Superpages Yellow Pages, Maps, Driving Directions …

Technology news and opportunities - Business 2.0 on CNNMoney

Long Island Business and New York City Business, including NYSE …

Raleigh Business | News & Observer

Business, financial, personal finance news - CNNMoney

Comments No Comments »

Filed under: , , ,

More states have filed charges against Countrywide (NYSE: CFC) for aggressive marketing and giving loans which were highly risky. Washington and California have joined Illinois in the actions.

Up until now, Bank of America (NYSE:BAC), which is buying Countrywide, has been sticking to its story that it will close on its purchase of the mortgages company. The media has written a million times that the huge money center bank might pull out of the deal. That actually became a bit more likely with the new states’ actions.

According to The Wall Street Journal, Kurt Eggert, a law professor at the School of Law at Chapman University stated, “Countrywide could be required to give back its profit on all those loans and conceivably give back houses on which it has foreclosed.” Since that number could be well into the billions of dollars, the potential damages are rising fast.

Countrywide could spend tens of millions of dollars on legal fees and countless hours in court over the next several years. That has become much clearer in the last few days.

BAC would be superior off to let CFC go out of business and just purchase its assets. Maybe the bank never intended to close the deal. Maybe that was its plan all along.

Douglas A. McIntyre is an editor at 247wallst.com.

Comments No Comments »

Filed under: , , ,

Jerry Yang, Yahoo! (NASDAQ: YHOO)’s CEO, and the company’s chairman Roy Bostock sent a letter to shareholders defending the company’s actions following the Microsoft (NASDAQ: MSFT) bid. There was nothing to defend. Those owning the web portal company’s stock got slaughtered.

“Our board of directors and management made a great effort — and conducted in-depth negotiations — to elicit a feasible proposal from Microsoft that made strategic and financial sense for Yahoo, but without success,” the executives wrote, according to The Wall Street Journal.

The comments are bogus on the face of it. Microsoft’s offer got as high as $33 toward the end of negotiations. Yahoo! now trades at $22. That number almost certainly factors in two things that the market already knows. One is that Yahoo! plans to reorganize management to make the company more efficient. The other is that Google (NASDAQ: GOOG) will sell some of Yahoo!’s search ads, which should make the process more profitable.

Looking back on the entire Yahoo! and Microsoft mess, there’s only one thing to remember. Yahoo! traded at $21.94 a week before the offer. It trades near the same price now. The only reason the company was ever worth more is because Microsoft needed it.

And, now that’s over.

Douglas A. McIntyre is an editor at 247wallst.com.

Comments No Comments »

Filed under: , , , ,

Microsoft (NASDAQ:MSFT) may try to buy Yahoo! (NASDAQ:YHOO) again, but it does not want the whole company. It finds the search business useful as part of its battle with Google (NASDAQ:GOOG). The content portal business does not have much attraction, and Redmond wants a company like Time Warner (NYSE:TWX) to pick up that piece. According to The Wall Street Journal, Microsoft “approached other media companies in recent days about joining it in a deal that would effectively lead to Yahoo’s breakup.”

The new deal just might work. Yahoo! dropped below $20 yesterday, putting its stock back where it traded before the first buy-out offer. The No. 2 search company’s shares reached as high as $33. Investors, especially Carl Icahn, are steamed that Yahoo! didn’t grab all of that extra money.

Even if Microsoft can’t find a partner to take the Yahoo! content business, it might move ahead. It only has 10% of the US search business. Yahoo! has about 20% and Google around 60%.

Microsoft still needs Yahoo!, and with its stock down by a third, Yahoo! needs a buyer.

Douglas A. McIntyre is an editor at 247wallst.com.

Comments No Comments »

Business for Sale - Over 30,000 Businesses for Sale at Business Broker
Business for Sale Search - 30,000 businesses for sale, business brokers, and franchise opportunities. Sell a business for sale or hire a business broker. If you are thinking of

Kelley School of Business: Indiana University Bloomington
Founded in 1920 as the Indiana University School of Commerce and Finance, the Kelley School has grown into one of the most respected business schools in the world with programs

Business
INTRODUCING THE FASTEST INTERNET SERVICE IN HAWAII. Hawaiian Telcom is now the fastest and most reliable world wide web service in Hawaii with download speeds of up to 11 Mb per second.

State College, PA - Business links and information
Retail and Service companies in and around Say College, PA, Penn State University, Central Pennsylvania, and Centre County.

Welcome to College of Business Administration - CSUS
College of Business Administration - CSUS, California For more than five decades, the College of Business Administration at Sacramento State has consistently achieved its

Business Services
The mission of Business Services is to assist the colleges in carrying out their goals and objectives in providing quality education to our students.

The Money Channel at Business.com: Finance News and Expert Advice
Discover business finance solutions for your company at the Business.com Money Channel. Read our Money Insider news blog for the latest buzz on financial products and services

Business - The Connecticut Post On the web
Connecticut Post Business NEW YORK (AP) — Stocks extended their decline into a third session Monday as investors contended with another spike in oil prices, which fanned

Houston Business Directory, Online Business Directory for Houston
Business directory for Houston, offering on the internet advertising, web design, marketing and promotion for Houston area businesses

College of Business
Recommended ISU home page or bookmark for current students at Idaho Say University. Idaho State University • 921 South 8th Avenue • Pocatello, Idaho, USA 83209

Business Intelligence from Business Objects
Business intelligence software and solutions including the BI industry’s most advanced and complete solution for performance management, planning, reporting, query and analysis

Business & financial news headlines, latest market updates, breaking
Msnbc.com publishes an up-to-the-minute report of business and financial news with personalized stock quotes as well as investing tools and tips. The business report combines the

WSDOT - Business with WSDOT
Administrative and Information Technology Contracts. Aerial Photography. Consultant Services Advertisements and Statements of Interest. Contract Ad and Award

Comments No Comments »

Close
E-mail It