William Patalon III
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Citigroup Lands Government Rescue Plan
By William Patalon IIIExecutive EditorMoney Morning/The Money Map Report Banking giant Citigroup Inc. (C) received $306 billion of U.S. government guarantees for troubled mortgages and toxic assets, in a rescue package that will save the embattled bank from a possible breakup or sale after its stock plunged 60% last week. Citigroup will also receive a [...] -
Will "Black Friday" be Just a "Black" Friday for Retailers as the Holiday Shopping Season Begins?
By William Patalon IIIExecutive EditorMoney Morning/The Money Map Reports As Thanksgiving approaches, the American people should be thankful for the declining gasoline prices that help enable many of them to afford holiday travel this year. Speaking of the holiday, after the traditional bird has been devoured, one additional time honored tradition remains – shopping. The [...]
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Timothy Geithner, Career Finance Official, is Obama's Nominee for Treasury Secretary
By William Patalon IIIExecutive EditorMoney Morning/The Money Map Report Timothy F. Geithner, the New York Federal Reserve Bank president who rose to prominence earlier this year as a key official in the government's financial rescue measures – is to be secretary of the Treasury, designated White House senior advisor David Axelrod told Fox News yesterday [...]
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Citigroup Board to Meet Today to Weigh Options for Embattled U.S. Banking Giant
By William Patalon IIIExecutive EditorMoney Morning/The Money Map Report The board of directors of Citigroup Inc. (C) will meet today to look at beleaguered banking giant’s options after its shares hit a 15-year low, and speculation is escalating that it will have to look at a break-up, spin-off or sale of at least part of [...]
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Hot Stocks: Citigroup to Buy Back Billions in SIV Assets, May Face Another Write-Down
[“Hot Stocks” is a new Money Morning feature that analyzes the investment outlook of global companies that are in the news. This is the seventh installment of this ongoing investment series.] By William Patalon III Executive Editor Money Morning/The Money Map Report Embattled U.S. banking giant Citigroup Inc. (C) has agreed to buy back $17.4 [...]
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The Five Financial Crisis "Aftershocks" Investors Can Play for Profit
[The first installment in an ongoing occasional news series that looks at the anticipated “aftershocks” of the global financial crisis, in some cases even exploring possible profit opportunities.] By William Patalon III Executive Editor Money Morning/The Money Map Report It used to be that buying a stock was like buying a house. You’d find a [...]
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Bank of America to Boost Stake in China's No. 2 Bank
By William Patalon IIIExecutive EditorMoney Morning/The Money Map Report Bank of America Corp. (BAC) will almost double its stake in state-owned banking giant China Construction Bank Corp., and will control nearly 20% of China’s second-largest bank when the deal is finalized. The official announcement yesterday (Monday) ends months of speculation that the Charlotte, N.C.-based BofA [...]
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U.S. Automakers, Freddie Mac and Foreign Exporters Next in Line for Bailout Handouts
By William Patalon IIIExecutive EditorMoney Morning/The Money Map Report This week is shaping up to be another active one on the bailout-and-financing front. First and foremost, Congress returns to work this week to consider a once-unthinkable proposal: Put up billions in taxpayer-backed loans so that Detroit’s “Big Three” can be saved. Expect a fight, however, [...]
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Hot Stocks: Priceline.com Shares Poised to Beam Up, Barron's Says
[“Hot Stocks” is a new Money Morning feature that analyzes the investment outlook of global companies that are in the news. This is the fifth installment of this ongoing investment series.] Money Morning Staff Reports With Priceline.com Inc. (PCLN) – the name-your-own-price travel-services player – it’s time to either beam up or buy in. Priceline [...]
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Bank of America Seeks to Boost Stake in China Construction Bank, Influential China Biz Magazine Reports
By William Patalon III Executive Editor Money Morning/The Money Map Report Bank of America Corp. (BAC) will likely boost its stake in state-owned banking giant China Construction Bank Corp., paying about 36 cents a share (2.46 yuan), or 1.2 times the Beijing-based lender's book value, China's Caijing magazine reported yesterday (Friday), citing unidentified sources. No [...]
