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Monkeys are ruling Maharashtra: Bal Thackeray
Financial Express (India), The | 8 hours 58 minutes ago
Bal Thackeray lashed out at Congress leader Narayan Rane for making unwarranted remarks over his health.... (more)
GE mulled bank charter as credit markets chilled
Boston Globe, The | 9 hours 5 minutes ago
WASHINGTON/BOSTON (Reuters) - As General Electric <GE.N> faced a recent credit crunch, the U.S. conglomerate considered seeking a bank charter that would give it access to government lending channels, sources familiar with the company's thinking said on Friday.... (more)
GE profit declines as expected
Los Angeles Times | 14 hours 58 minutes ago
General Electric Co. spared investors any nasty surprises Friday as it reported a 22% drop in third-quarter earnings, meeting its own lowered forecast.... (more)
Digest
Houston Chronicle | 16 hours 18 minutes ago
FINANCES Finance unit pulls GE earnings downGeneral Electric Co. spared investors any nasty surprises as it reported a 22 percent drop in third-quarter earnings on Friday, meeting its own lowered forecast and blaming the decline on its struggling finance arm. GE reported net income of $4.3 billion, or 43 cents per share. Sales rose 11 percent to $47.23 billion. A year earlier, GE earned $5.56 billion, or 54 cents.... (more)
GE profit falls 22 pct, meets lowered expectations with finance unit hammered by credit crisis
Orlando Sentinel (Fla.) | 22 hours 16 minutes ago
HARTFORD, Conn. (AP) _ General Electric Co. spared investors any nasty surprises as it reported a 22 percent drop in third-quarter earnings on Friday, meeting its own lowered forecast and blaming the decline on its struggling finance arm. The company's loan and lease business has been hammered by the worst financial crisis since the 1929 stock market crash.... (more)
UPDATE: Wachovia Upgrades Public Storage
Los Angeles Business Journal | 22 hours 29 minutes ago
Shares of Public Storage Inc. surged 20 percent on Friday after an analyst upgraded the company's stock, arguing the self-storage company's secure financial position can be seen as a safe harbor for investors in the unsettled market climate.... (more)
GE 3Q profit off 22%, but meets lower forecast
San Diego Union-Tribune | 23 hours 52 minutes ago
General Electric Co. spared investors any nasty surprises as it reported a 22 percent drop in third-quarter earnings on Friday, meeting its own lowered forecast and blaming the decline on its struggling finance arm. The company's loan and lease business has been hammered by the worst financial crisis since the 1929 stock market crash.... (more)
BioMed Raises $212M Despite Turmoil
GlobeSt.com | 1 day 14 minutes ago
Last week's stock offering marked the second time this year that BioMed has raised funds in a difficult capital markets environment. In April, the San Diego-based REIT raised $149.7 million. In both offerings, BioMed said the funds would be used to pay down its line of credit and cover general corporate uses.... (more)
Collateralized Damage: Commercial Mortgage Securities Are at a Standstill - Knowledge@Wharton
Knowledge@Wharton | 1 day 3 hours 36 minutes ago
With so much media and federal regulatory attention focused on the global credit crunch, especially the securitization of massive pools of home loans, there has been little notice of what's been happening with the market for commercial-mortgage backed securities, a younger cousin in the structured finance family.... (more)
After the Bailout: How Can the Fed Clean Up the Fannie and Freddie Mess? - Knowledge@Wharton
Knowledge@Wharton | 1 day 3 hours 36 minutes ago
When federal officials met with top Wall Street executives the weekend of September 13, they made one thing clear: The collapsing securities firm Lehman Brothers would not get the kind of taxpayer-backed bailout given to another Wall Street firm, Bear Stearns, just a few months earlier.... (more)
DeStefano, AT&T Take 66,000 SF in Former IBM
GlobeSt.com | 1 day 4 hours 13 minutes ago
"You can't improve upon AT&T's credit and name," Anita Pallardy, Prime Group Realty SVP, tells GlobeSt.com. "DeStefano is expanding globally and they're a good, professional firm. These tenants join other internationally-recognized tenants in the building, like Perkins+Will and Thornton Tomasetti."... (more)
GE Pays Now For Profit Later
Forbes | 1 day 5 hours 5 minutes ago
General Electric is making its shareholders suffer some short-term pain for what it hopes will be long-term gain. The conglomerate on Thursday priced a secondary stock offering at a significant discount to its Wednesday close, pushing down the outstanding shares but giving the company a dollop of capital that will reduce its dependence on the stressed-out commercial paper market.... (more)
Burnout
Forbes | 1 day 5 hours 5 minutes ago
Does General Electric deserve its AAA rating? The long debate over General Electric (nyse: GE - news - people )'s true identity--an industrial conglomerate or a finance outfit--is over. The Fairfield, Conn. company is a bank in drag, and its makeup is starting to run.... (more)
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