The Bush Administration’s practice of ignoring what’s happening on Planet Earth in favour of a more convenient narrative is driving the Government’s handling of interest rate rises, writes David MacCormack.
Merrill Lynch
The problem with giving CEOs short-term bonuses
Outgoing Merrill Lynch CEO Stanley O’Neal’s was a true American rags-to-riches tale. The African-American son of a factory worker grew up in poverty, attended Harvard and rose to become CEO of one of the world’s largest brokerages, writes Adam Schwab.
US and Euro banks slump, Aussie banks strong
Citigroup and its CEO, Chuck Prince, are parting company after an agreed deal ahead of a board meeting in New York a few hours ago, a week after Stan O’Neal and the board of Merrill Lynch parted company with Stan walking with $US160 million, writes Glenn Dyer.
Morning Market Report
The highlights and lowlights of this morning’s sharemarket activity.
Golden goodbye for Merrill Lynch CEO as subprime fallout continues
Turning failure into incredible wealth is just another example of how Wall Street’s big financial groups refuse to do what they insist others must do, writes Glenn Dyer.
Morning Market Report
The highlights and lowlights of this morning’s sharemarket activity.
Morning Market Report
The highlights and lowlights of this morning’s sharemarket activity.
Investment banks warn tax cuts will boost inflation
Two leading Australian investment banks have warned that the Federal Government’s $34 billion in tax cuts over the next five years threaten to boost inflation and interest rates, writes Glenn Dyer.
The global cost of the subprime crisis continues to rise
The cost of the subprime crisis continues to mount around the world, not just on Wall Street. To date, the total cost stands at around $US50 billion and rising, writes Glenn Dyer.
Rams shareholders sold out by management
Shareholders in Rams Home Loans group who have been gutsy enough to hang onto their shares are entitled to feel a bit miffed about the way they have been stiffed by gutless management and founder John Kinghorn, writes Glenn Dyer.
Subprime expert forecasts more pain
Bill McDonough is still one of the most powerful and well informed people on Wall Street, especially in the current subprime crisis. He’s one of the few people who knows what damage the current subprime mortgage-induced credit freeze can and is doing, writes Glenn Dyer.
Need a good CEO? Use the Fairfax model, try an All Black
It continues to amaze what a strong, front foot player for a CEO can do to a company’s standing in the markets. Or a former All Black captain and halfback. Glenn Dyer reports.
Can Wesfarmers do a Myer with Coles?
Is the latest word on Coles and Wesfarmers a message from Cassandra (whose prophesy was correct, but was not believed) or Jonah (who got one right, was believed, then got one wrong)? asks retail commentator Rob Lake.
Packer mislays $57 million in PBL shares
James Packer and his minions have obviously been very distracted this year. How else could he allow a small, but significant, error in the reporting of his precise holding in PBL go uncorrected for more than six months?
Media briefs and TV ratings
Merrill Lynch predicts big things for Foxtel … Fun in the pun … Border Security reveals Seven’s programming depth … Last night’s TV ratings.
The Economy: RBA meets as global inflation rises
Last Friday saw Australia’s equity markets close up 30% (including dividends) for the year. This marks the forth year of annual returns above 20%. Surely it doesn’t get any better than this? But could it get much worse?
