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Battered Markets Crawl Into 2009
 Battered Markets
 Crawl Into 2009 
ANALYSIS
Jan 1, 2009 9:22 AM CST

Battered Markets Crawl Into 2009

2008 finishes as the worst year for the Dow since 1931

(Newser) - Weary relief that 2008 was finally over greeted the final bell at the New York Stock Exchange yesterday, but shaken investors worry about what 2009 holds, the New York Times reports. The final tally confirmed that the year was the worst for stockholders since the Great Depression. Stock plunges across...

Stocks Flat Despite Auto Help
 Stocks Flat Despite Auto Help 
MARKET Open
Dec 30, 2008 8:53 AM CST

Stocks Flat Despite Auto Help

(Newser) - Stocks continued their holiday nap today, opening only modestly higher despite an expansion of the auto bailout. The Dow rose 57 points, while the Nasdaq and S&P each rose 0.6%. GM and Ford climbed11% and 2.7% respectively on news that the government would toss $6 billion to...

Bank Woes Push Dow Down 196
 Bank Woes Push Dow Down 196 
MARKETS
Dec 11, 2008 3:23 PM CST

Bank Woes Push Dow Down 196

JPMorgan Chase, Bank of America, Citigroup all see big drops

(Newser) - The markets slid today as JP Morgan’s CEO made pessimistic comments about home prices, the Wall Street Journal reports. Adding to investor malaise was a Labor Department report that unemployment insurance claims are at a 26-year high, and continued uncertainty about the Detroit bailout. The Dow was down 196....

Palin Charged Alaska $21K for Children's Travel

Uninvited children were said to be on 'official business'

(Newser) - Sarah Palin billed the state of Alaska repeatedly for costs incurred by her children accompanying her on trips, sometimes altering expense reports to indicate that they were on official business even though they were not invited, an investigation by the AP finds. Palin charged the state a total of $21,...

Wolfe: Stars Went to Hedge Funds Long Ago

Tom Wolfe watches as the Masters of the Universe flee New York for Greenwich hedges

(Newser) - Tom Wolfe has been fielding a lot of questions about where the Wall Street crisis leaves the Masters of the Universe now, writes the author of the seminal book about the excesses of 1980s traders in the New York Times. But, he notes, the real investment banking superstars left for...

Storied Equity Firm KKR Goes Public Today

Firm's aggressive moves inspired Barbarians at the Gate

(Newser) - Legendary buyout firm Kohlberg Kravis Roberts & Co.—battling the credit crunch and moribund in the deal-making department this year—will go public this morning in an attempt to kick-start its business and take over its flagging European affiliate, reports the Wall Street Journal. KKR could be worth up...

Former NYSE Chief Wins Fight for $187M Pay

State can't block Grasso payout, says court, after bitter battle

(Newser) - The former chairman of the New York Stock Exchange has won an ugly 4-year battle to retain a mammoth $187.5 million compensation package.  A New York appeals court  dismissed an action initiated by then-Attorney General Eliot Spitzer challenging the payout for Dick Grasso as excessive, the Wall Street ...

Bridge 'Suicide' Ruled Fugitive
 Bridge 'Suicide' Ruled Fugitive 
Jun 17, 2008 3:57 AM CDT

Bridge 'Suicide' Ruled Fugitive

Hedge fund founder on the lam: marshals

(Newser) - A New York hedge fund manager who bilked investors out of $400 million has been declared a fugitive by federal authorities, reports Bloomberg. "Suicide has been ruled out,'' said a spokesman for the US Marshals Service. Samuel Israel disappeared the day he was scheduled to begin a 20-year...

Stocks Fall on Dismal Earnings
 Stocks Fall on Dismal Earnings 
MARKETS
Apr 8, 2008 3:38 PM CDT

Stocks Fall on Dismal Earnings

Housing data, WaMu bailout not helping investor confidence

(Newser) - Stocks fell today as the first-quarter earnings report season began with dismal results and a grim new report confirmed that the housing slump hasn't bottomed out, Bloomberg reports. Washington Mutual, freshly bailed out by TPG, led financials lower after it slashed its dividend 93%. The Dow fell 35.99 to...

Stocks Fall on Consumer Data
 Stocks Fall on Consumer Data 
Markets
Mar 28, 2008 3:47 PM CDT

Stocks Fall on Consumer Data

Weekly losses for Dow and S&P

(Newser) - Stocks erased morning gains on poor consumer spending news to wrap up today's session in negative territory. The Dow and the S&P 500 racked up weekly losses of 1.2% and 1.1%, Bloomberg reports. The Dow fell 86.38 today to close at 12,216.08. The Nasdaq...

Why Close the Markets Today?
 Why Close the Markets Today? 
Mar 21, 2008 3:10 PM CDT

Why Close the Markets Today?

Observing Good Friday one reason; superstition about 1907 panic another

(Newser) - The Big Board is closed today—but the reason is open to some debate, Bloomberg reports. The last time the markets opened on Good Friday was 101 years ago, when they saw one of two huge crashes that made up the Panic of 1907. Fear of repeating that catastrophe may...

Interest Soars Sky-High in Visa's $18B IPO

Record-breaking debut could mark turning point for markets

(Newser) - Visa pulled in almost $18 billion in its initial public offering yesterday, the San Francisco Chronicle reports. The credit card company's IPO was the biggest by far in US history and the second biggest ever. The $44-per-share price investors paid was $2 higher than the company's highest estimate, and the...

Corporate America Revels in Spitzer's Fall

Schadenfreude strikes onetime targets of 'Sheriff of Wall Street'

(Newser) - Wall Street is reveling in the fall of Eliot Spitzer, who as AG made exposing corruption highly personal, reports the Wall Street Journal. "He actually believes he's above the law," says ex-NYSE director Ken Langone, whom Spitzer sued for paying too much to the Big Board's CEO. "...

Stocks Recover After Big Losses
Stocks Recover After Big Losses
MARKETS
Mar 4, 2008 3:49 PM CST

Stocks Recover After Big Losses

Talk of Ambac bailout leads to late rally

(Newser) - News of an impending bailout for bond insurer Ambac helped the markets recover from steep losses and end today's session down only slightly, MarketWatch reports. Down by 200 points at 2:30, the Dow closed only 45.10 down, ending at 12,213.80. The Nasdaq rose 1.68 to...

Visa Plans $17B IPO in Risky Market
Visa Plans
$17B IPO in Risky Market
Feb 25, 2008 8:55 AM CST

Visa Plans $17B IPO in Risky Market

Public offering would be the biggest in Wall Street history

(Newser) - Visa is hoping to surpass rival MasterCard’s 2006 stock market debut with a $17 billion IPO that would be the largest in Wall Street history. The company today said it hopes to sell some 406 million shares for $37 to $42 each, reports the Wall Street Journal. The biggest...

Dow Falls as Nasdaq Posts Gains
Dow Falls as Nasdaq Posts Gains
MARKETS
Feb 8, 2008 3:57 PM CST

Dow Falls as Nasdaq Posts Gains

Wholesale inventories, financials struggle, but tech holds its ground

(Newser) - Stocks showed mixed results today, as the Dow rallied and then teetered to a loss off lingering fears of recession. Meanwhile, the Nasdaq posted moderate gains buoyed by strong showings by Amazon, Google, Apple, and Research in Motion, Marketwatch reports. The Nasdaq gained 11.82 to end at 2,304....

NYSE To Buy Rival Exchange
NYSE To Buy Rival Exchange
Jan 17, 2008 6:09 PM CST

NYSE To Buy Rival Exchange

Deal will save the struggling American Stock Exchange

(Newser) - The Big Board is about to get a bit bigger: The parent company of the New York Stock Exchange agreed today to snap up its smaller rival, the American Stock Exchange, for $260 million in stock, the Wall Street Journal reports. The deal ends a rivalry that began during the...

Computers Thin Ranks of NYSE Floor Traders

Iconic backdrop 'dead' as shares trade electronically

(Newser) - The famously frenetic NYSE trading floor is rapidly becoming history as more efficient computer trading replaces human traders. With most of the exchange's trading rooms shuttered, only two trading halls stay open to the 1,500 remaining traders, whose numbers are dwindling, AFP reports. "The floor as we knew...

In Thain, Merrill Picks CEO as Risk Manager

Chosen for steady hand in unsteady times

(Newser) - The choice of NYSE's John Thain as Merrill Lynch's new CEO signals a focus on a new kind of manager for the financial giant, the Wall Street Journal observes: a strong risk manager. A low-key, detail-oriented veteran, Thain resembles the top execs of the firms least damaged by the subprime...

Niederauer Will Succeed Thain at Big Board

Current COO has been with NYSE only a few months

(Newser) - Duncan Niederaurer, current co-COO and president of the New York Stock Exchange, is poised to replace John Thain as CEO of the Big Board, reports the Wall Street Journal.  Thain is expected to be named CEO of Merrill Lynch, replacing the departing Stan O'Neal. NYSE is expected to make...

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