Home » Archive for January, 2010
Citigroup (NYSE:C) Star Andrew Hall Ready to Battle for $100 Million Compensation Package
Although the current economic circumstances seem to make the $100 million compensation package offered by Citigroup (NYSE:C) to its superstar trader Andrew Hall sound outrageous, he in fact had the contract in place before the crisis... More of this article »
Business as Usual for Bank of America (NYSE:BAC), Citigroup (NYSE:C), J.P. Morgan (NYSE:JPM) and Wells Fargo (NYSE:WFC)
Watching the unfolding compensation situation at banks after the last couple of years, shows that for Bank of America (NYSE:BAC), Citigroup (NYSE:C), J.P. Morgan (NYSE:JPM) and Wells Fargo (NYSE:WFC), the largest banks in America,... More of this article »
Wells Fargo (NYSE: WFC) Mortgage Relief Efforts Help Nearly Half A Million Customers In 2009
Wells Fargo (NYSE: WFC) announced on Friday that through the Home Affordable Modification Program (HAMP) and other modification programs it has provided mortgage relief for nearly a half million customers. The bank stepped up efforts... More of this article »
Why Citigroup (NYSE:C) Cash Cap at Below $100,000 is Meaningless
The latest move by a big financial institution, in this case Citigroup (NYSE:C), to limit cash bonuses in order to shore up their pubic relations campaigns, are in my estimation largely a waste of time. First of all, I personally really... More of this article »
Major Citigroup (NYSE:C) Shareholder Saudi Prince Alwaleed bin Talal Pressures CEO Vikram Pandit to Perform in 2010
Saying that it was understandable for the last couple of years with the global recession cutting into revenue and profits, Saudi Prince Alwaleed bin Talal told Citigroup (NYSE:C) CEO Vikram Pandit that this year is crucial, and he... More of this article »
J.P. Morgan Chase (NYSE:JPM) Fourth-Quarter Results Show Street Far Too Optimistic for 2010
With J.P Morgan Chase (NYSE:JPM) considered among the top-run banks in the country, and having survived the economic and banking crisis better than most in the industry, the disappointing fourth-quarter results underscores the reality... More of this article »
Will New Morgan Stanley (NYSE:MS) CEO James Gorman Remain Committed to Less Risk Under Increasing Pressure?
One of the key strategies articulated by new Morgan Stanley (NYSE:MS) CEO James Gorman is he’s going to manage risk far closer and better than the company leadership has in the past, and the company won’t be as aggressive... More of this article »
Bank Closures in 2010 Begin in Earnest: Three More Closed, One with No Buyer
Three more banks in the U.S. were closed on Friday, and the FDIC wasn’t able to find a buyer for the largest of them all, forcing them to create what they call a bridge bank, which will exist temporarily for the purpose of customers... More of this article »
Citigroup’s (NYSE: C) Home Mortgage Affordability Program Data for December 2009 Released
Citigroup’s (NYSE: C) numbers under the Making Home Affordable loan modification program through December of 2009, showing an increased number of temporary modifications, but still relatively few permanent loan modifications. Previously,... More of this article »
Quarterly Reports for Bank of America (BAC), Citigroup (C), Wells Fargo (WFC), Morgan Stanley (MS) and Goldman Sachs (GS) Due This Week
Now that the first major bank reported last week on its quarterly results, and the strong profits weren’t enough to convince shareholders there was a turnaround of any sort, we know the upcoming quarterly reports from Bank... More of this article »
Mixed News for Capital One Financial Corporation (NYSE: COF) Ahead of Earnings Report – Delinquencies Ease, Charge-Offs Rise
In an announcement that summarizes the concerns banks and investors share surrounding the consumer, credit cards, and banks, Capital One Financial Corp. (COF) reported credit-card delinquencies eased in December, but charge-off levels... More of this article »
JP Morgan Chase (NYSE: JPM) Reacts to Public Outcry Over Bonuses
JP Morgan Chase (NYSE: JPM) gave in to public pressure to rein in compensation packages on Friday, cutting the revenue earmarked for compensation in an attempt to defuse some of the political outrage against large cap banks that are... More of this article »
Credit Card Losses Mounting for Bank of America (NYSE: BAC), Chase (NYSE: JPM), Capital One (NYSE: COF), Discover (NYSE: DFS) and Others.
JP Morgan Chase stated that they believed consumer spending would remain anemic throughout 2010 and new Credit-card master trust data also indicates continued weakness in consumer spending, which is driving credit-card related losses... More of this article »
Lending Club Investing Strategy: Red Flags to Lookout for When Shopping for Loans
Funding peer-to-peer loans is becoming a popular investment among many savvy investors and there is money to be made by becoming a lender via Prosper Marketplace or Lending Club, but it does require some work. To make a great rate... More of this article »
Citigroup May Cap 2009 Cash Bonuses to under $100,000
Citigroup (NYSE: C) may cap cash bonuses for 2009 at below $100,000 according to a new report from the Financial Times. The 2009 bonus pool is expected to be similar to 2008 levels, which was relatively low compared to previous years.... More of this article »
Citigroup (NYSE: C) Losses Haitian Headquarters to Earthquake
International companies, including as Citigroup (NYSE:C), have been working hard this week to learn the fate of their Haitian employees this week and keep their survivors safe. Many companies have still not determined whether or not... More of this article »
JP Morgan Chase (NYSE: JPM) Q4 Earnings Surge On Investment Banking Strength, But Loan Losses Remain High
JP Morgan Chase (NYSE: JPM) announced Friday fourth quarter earnings jumped more than 400 percent as profits from its investment banking unit were robust. However, the bank continued to face rising loan losses. For the quarter, JP... More of this article »
Citigroup (NYSE: C) Earnings under Pressure after JP Morgan Chase Announcement (NYSE: JPM)
Citigroup’s (NYSE: C) stock price is under pressure this morning after an announcement from JP Morgan’s (NYSE: JPM) that beat profit expectations but fell short on revenue, dragging down the rest of the financial sector. Citigroup... More of this article »
Citigroup (NYSE: C) To Donate $2 Million to Haiti Relief Effort
Citigroup (NYSE: C) announced on Friday that it will donate $2 million to the relief effort in Haiti following Tuesday’s earthquake. The New York-based bank said it will give $250,000 to the American Red Cross that can be used for... More of this article »
First of the “Big Banks” Report – J.P. Morgan Chase (NYSE: JPM) Profit Surges to $3.3 Billion
J.P. Morgan Chase & Co. (JPM) reported a $3.3 billion profit in the fourth quarter of 2009. And while that was 9% less than what it reported from the third quarter, it beat analyst expectations. Analysts noted that the earnings... More of this article »
Bank of America (NYSE:BAC), J.P. Morgan (NYSE:JPM) and Consumers Could Get Clobbered from Obama Tax
A5s we get deeper into the realization of the folly of the government bailout of banks and financial institutions – some of which were forced – the government is playing its big card now by proposing taxing many of the... More of this article »
Wells Fargo (NYSE:WFC) Cutting Back on Funds Offered, Dropping ‘Evergreen Investments’ Brand
After acquiring Wachovia last year, Wells Fargo (NYSE:WFC) inherited a lineup of funds which had a lot of overlap with the funds they offered, and so they’ve decided to cut back on the number of funds they manage and drop them... More of this article »
SEC Admits It’s Investigating Bank of America (NYSE:BAC), Wells Fargo (NYSE:WFC), Citigroup (NYSE:C), and Goldman Sachs (NYSE:GS)
The head of the Securities and Exchange Commission (SEC), Mary Schapiro, admitted today that it is investigating the sales practices of Collateralized Debt Obligations (CDOs) of Bank of America (NYSE:BAC), Wells Fargo (NYSE:WFC), Citigroup... More of this article »