While shareholders may have suffered from the global financial crisis, executives have been doing pretty nicely. Like the CEO of Blackstone, whose executive pay in 2008 was US$702 million.
Blackstone group
Morning Market Report
The highlights and lowlights of this morning’s sharemarket activity.
Northern Rock bailout runs into the tens of billions
According to London reports, the rescue of the failed mortgage bank, Northern Rock could match or surpass the amount the British Government spends on defence, writes Glenn Dyer.
Cantankerous Elliott bows out of Orica defeated
The AFR’s Street Talk column today noted that hedge Fund, Elliott Associates, has quietly departed Orica’s share registry after failing in its attempted merger arbitrage attempt.
Coles deal: And then there were two
The chances of a private equity takeover offer for Coles Group have lessened with reports from New York this morning suggesting that the Blackstone Group is no longer interested.
Is the private-equity party about to be closed down?
Anyone familiar with the classic Tom Wolfe novel, The Bonfire of the Vanities, would have a sense of déjà vu working in US financial markets at the moment.
