| ||||
| ||||
|
Archive for October, 2006
Sunday, October 29, 2006 Rinker rejects buyout offer By Ian Mylchreest Mexican materials outfit Cemex made a hostile offer for Australia-based Rinker Group after the Australian Stock Exchange had closed Friday, reports Reuters. The offer values the company at $12.8 billion, a 27 percent premium to the closing price.
Rinker does 80 percent of its business in the U.S. and sees Nevada and Arizona as a big part [...]
Comments Off
Friday, October 27, 2006 Station revises history By David McKee Station Casinos bosses Frank & Lorenzo Fertitta are the subject of a lively and very flattering portrayal by writer Joel Stein, in the current issue of Business 2.0. Mostly it focuses on the brothers’ rescue of the Ultimate Fighting Championship from the dustheap of sports history. (Whether posterity thanks them for this remains to be [...]
Comments Off
Friday, October 27, 2006 Wynn goes to Oz By David McKee … as in Australia. Just a few days ago, Australian media reported that Jack Binion, new Far Eastern ambassador for Steve Wynn was Down Under, saying some interesting things. Most specifically, these concerned a possible joint venture with PBL/Melco, that alliance of the Packer and Ho families.
Binion floated the idea of a PBL-Melco-Wynn Resorts alliance [...]
Comments Off
Wednesday, October 25, 2006 Less glass, less smoke, less Gibbons? By David McKee Passing Glass: Word is that glass is in short supply. Which means, as Liz Benston breaks it down, good news for MGM Mirage, Sheldon Adelson and America’s leading Marxist, Steve Wynn. Since every silver lining cossets a dark cloud, this dearth of glass is bad news for Boyd Gaming and its Echelon Place, and for [...]
Comments Off
Wednesday, October 25, 2006 Some bad news and some good news on housing By Ian Mylchreest The latest figures from the National Association of Realtors show that the price of existing homes is falling across the country and that the inventory is growing, reports the New York Times. The average price of an existing home is now $220,000 and that’s a good way below the average in Clark County.
Compared to last September, [...]
Comments Off
Wednesday, October 25, 2006 SOX changes are on the way By Ian Mylchreest The chorus of complaints about Sarbanes-Oxley reforms seems to have finally reached some big ears in Washington. Treasury Secretary Henry Paulson promised reforms of the corporate reforms in an interview with Bloomberg.
There have been two main areas of complaint: the compliance costs are way too high and the new regulations are strangling capital markets in [...]
Comments Off
Wednesday, October 25, 2006 Vietnam is the next tiger By Ian Mylchreest The Vietnam War was fought to keep that country from falling into the Communist bloc, but now, reports the New York Times, it has become the latest country to follow the Chinese model of development. It is shaping up as the next “tiger” economy, clocking up growth rates that make it the second-fastest growing economy [...]
Comments Off
Tuesday, October 24, 2006 SEC will have to decide about shareholder rights By Ian Mylchreest The SEC, and particularly, its chairman Christopher Cox will have to face the music about shareholders’ ability to nominate directors and get their material into official voting packets, reports the Los Angeles Times. The need to decide on this issue threatens the consensus that has ruled the commission under the former California congressman, notes the paper.
This [...]
Comments Off
Tuesday, October 24, 2006 Insurance could get a shake-up By Ian Mylchreest The very highest heights of the insurance business could be in for some serious restructuring. Private equity giant Kohlberg Kravis Roberts is kicking the tires on insurance ndustry giant Marsh & McLennan, reports the Times of London. The plan is to break up the four key businesses of the financial services conglomerate.
This is an old-fashioned deal a la [...]
Comments Off
Monday, October 23, 2006 Skilling gets a big sentence By Ian Mylchreest Former Enron CEO Jeffrey Skilling was sentenced to 24 years and 4 months in jail, reports the Associated Press. Since the federal Enron task force got the guys at the top and the top man was given a big sentence, it looks as if the slow and methodical plan to work up the food chain [...]
Comments Off
|
|
|
Copyright © valleyblogs.com, Stephens Media | Privacy Statement valleyblogs.com is powered by WordPress Entries (RSS) and Comments (RSS). |