Last month Warburg Pincus agreed to buy 16.1 million shares of MBIA at $31 per share and also received warrants to purchase an additional 8.7 million shares at $40. Today MBIA reported a loss of $18.61/share ($2.3 billion) and the stock is trading at about $12 in pre market. Warburg is known as a savvy [...]
The market rallied and then fell on the news of the Fed cutting another 50 basis points. Obvioiusly, there are still plenty who are selling the rallies and with market sentiment so bearish that is not a surprise. From my viewpoint this is a good thing. Long term investors should be looking for the market [...]
Employment in the US private sector grew by 130,000 in the first month of the year, according to the ADP report released today. Economists had been expecting a number closer to 70,000 new jobs.
Service-oriented employment grew by 141,000, while manufacturing employment held steady after 18 straight months of decline. The one negative came in the [...]
The US gross domestic product slowed to a crawl in the last quarter of 2007. The number, reported by the Commerce Department, came in at a 0.6% annualized growth rate for the quarter. Economists had a expected a number in the region of 1.1%.
For all of 2007, the economy grew by 2.2%, the [...]
