Thursday, September 24, 2009

Thursday Morning

AlphaNinja - Markets opened up a little bit - we'll see if a reversal of yesterday afternoon's furious slide holds...Jobless claims came in lower than anticipated this morning, giving a boost to US indexes.

Amidst this recession, coupon-clipping has become even more widespread.
It may be the digital age, but when it comes to pinching pennies, most consumers are opting for a method that is well over a 100 years old: the paper coupon. Thanks to the miserable economy, coupons — like board games and family dinners around the kitchen table — have made a comeback. The recession has even made coupon clippers out of some groups that once avoided them, including well-to-do shoppers and young shoppers.

Of the 16,000 creditors clamoring for some $$$ in the Lehman bankruptcy, the largest is the bank's former landlord in London.
Lehman, Canary Wharf Group’s largest tenant, occupied more than 1 million square feet (93,000 square meters) of office space at 20-25 Bank Street in 2003 on a 30-year lease.

NYTimes notes the ridiculous extra fees that private equity firms charge the very firms they're repackaging to be IPO'd - at the expense of their investors.

Our pain is their gain. With multiple new fees and packed planes, airlines are making some money these days.
“Passengers just swallowed these fees with barely a whimper, and they’re not going away,” said Michael Boyd, president of aviation consulting firm Boyd Group in Evergreen, Colorado. “Why leave money on the table when people will pay you?”

More trouble for the Kraft-Cadbury deal - Kraft is not very far along in securing financing.
Kraft is only now asking banks for their best offers, said a person with direct knowledge of the situation. A second person confirmed Kraft went public with its proposal before coming to the market for financing.

In a race to replace reserves, the oil industry has had a successful 2009
“That’s the wonderful thing about price signals in a free market — it puts people in a better position to take more exploration risk,” said James T. Hackett, chairman and chief executive of Anadarko Petroleum.
More than 200 discoveries have been reported so far this year in dozens of countries, including northern Iraq’s Kurdish region, Australia, Israel, Iran, Brazil, Norway, Ghana and Russia. They have been made by international giants, like Exxon Mobil, but also by industry minnows, like Tullow Oil

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