Morgan Stanley, the sixth largest bank in the US, expects to cut investment banking bonuses. The expectation. The source declined to be named, but managers know they are dealing with a pool that is likely 10% to 30% smaller. The percentage of revenue awarded as compensation last year was 62% and something that CEO James Gorman promised to change. The Bloomberg article (here).
I don't think that this has any value to any of us whatsoever, other than giving you a laugh. The video is from the middle of October, and shows Mr. T at the Bloomberg studios to discuss the recent run-up in gold prices as well as his gold promise program. Enjoy (here).
In a very highly discussed M&A deal, AirProducts (from my hometown Allentown, PA) has raised its bid to $70 a share for Airgas. The bid for Airgas was labeled by AirProducts as their "best and final" bid for the firm that if accepts, will be valued at over $5.8B. These talks have been going on for 10 months now and the offer deadline has been extended to January 14th. The Dealbook article (here)
After a poor week of economic news, we have seen a slew of positive news. The most recent jobless claims data pushed stocks higher in early morning trading. Wall street economists predicted 428,000 would claim joblessness, compared to the actual 421,000. Stocks have since sold off, but this is getting us back on track on the economic front. The Associated Press article (here)
Kevin
No comments:
Post a Comment