• Dunkin’ Donuts president quits – After Thursday’s success, he must have wanted to go out on top. [BBC]
• Strong dollar ‘very important’: Geithner – Not only that but we have to convince the world that we’re thrifty. Then we wouldn’t be Americans, would we? [Reuters]
• Heads Should Have Rolled at Raters: Congresswoman – Pols using hindsight for grandstanding? [CFO]
• CIT Discloses Its Restructuring Plan – “By simultaneously soliciting votes for a prepackaged bankruptcy alongside the debt exchange offers, the company is hoping to scare enough bondholders into supporting the out-of-court restructuring effort.” Run away. [DealBook]
• Don’t forget to vote in the poll for our Caption Contest. It closes at 3 pm EDT.
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Preliminary Analytics | 09.15.09
• Citigroup Explores Bid to Pare U.S. Stake – “Citigroup officials said they planned to raise outside capital in order to repay the outstanding bailout funds. Treasury officials responded to Citi that they didn’t object to the company paying back Washington as long as Citi first raised offsetting capital” In other words, everyone calm down. It’s more like Citi actually got the stones to call up the Treasury. At this point, Treasury is still a little grossed out. [WSJ]
• Bank of America Ruling Leaves SEC With Few Options for Pursuit – Judge Rakoff: ‘the proposed consent judgment was a contrivance designed to provide the SEC with the façade of enforcement and the management of the bank with a quick resolution of an embarrassing inquiry.’ So much for winning anybody’s respect Schapester. [Bloomberg]
• A Tough Crowd on Wall Street – Shockingly, very few lined up to congratulate the President on the speech, which probably caught him off guard a little bit. [NYT]
• How accounting changes can create a world of investment banks – So, accountants will be blamed for the next crisis too? Awesome. [FT Alphaville]
Preliminary Analytics | 11.17.09
• Bernanke Signals ‘Extended’ Low-Rate Period May Become Longer – In other words, we’re going to start blowing bubbles. Don’t worry, it’s fun! [Bloomberg]
• America’s Newest Land Baron: FDIC – Anyone looking for “a failed condo development on a noisy freeway ramp next to a Motel 6, a Waffle House and a Do-It-Yourself Pest Control.” Sheila Bair is selling. [WSJ]
• Volcker Criticizes Accounting Proposal – Criticism like the idea for the Treasury Department, FDIC, and the Fed to oversee accounting rules is ‘terrible’. [NYT]
• Playboy CFO Resigining – Linda Havard is ‘looking forward to new challenges’ after a dozen years on the job. Tracking Viagra expenses for the founder just doesn’t float her boat anymore. [CT]
Preliminary Analytics | 10.06.09
• Burned Bondholders Demand Movie, Bowling Alley Claims for Junk – “Blockbuster Inc. sold $675 million of debt on Sept. 17, agreeing to pay a 15.2 percent yield and pledge movies and video games as collateral. Brunswick Corp. used its bowling alleys and headquarters in Lake Forest, Illinois, to back a $350 million bond sale in August.” [Bloomberg]
• United States calls for rigorous IMF surveillance – ‘Cause were sure as hell not able to do it, TImmay [Reuters]
• PwC asks: When will banks learn? – Around the same time as accounting firms, probably. [Reuters]
• Justices Turn Down Appeal From Qwest’s Nacchio – Does this mean that this story is over? [Reuters via NYT]
• United Airlines to get $35.8 million in city incentives for Willis Tower move – Deloitte should have held out. [Chicago Tribune]