FT Alphaville Blog ArchiveThis is why Tier 1 is irrelevent

Seeded on Tue Feb 24, 2009 8:55 AM EST (FT.com)

An interesting analysis of Tier 1 versus TCE.

business, banking, distressed

FT Alphavill Blog Archive Knowing our banks, knowing yours

Seeded on Tue Feb 24, 2009 8:53 AM EST (FT.com)

The Swedish approach to nationalization summarized.

business, banking, distressed

Collapsing Hedge Fund Industry - Wall Street Column - Jesse Eisinger - Portfolio.com

Seeded on Mon Feb 23, 2009 3:25 PM EST (Portfolio.com: Top 5)

The collapse of the hedge fund industry?

business, hedge-funds, distressed-investing

FT Alphaville Blog Archive We hate you guy even more now

Seeded on Wed Feb 18, 2009 3:38 PM EST (FT.com)

The Chinese and others continue to buy US treasuries, despite major misgivings.

business, economy

Corporate Debt Issues Continue the Recovery - - CFO.com

Seeded on Wed Jan 14, 2009 7:27 PM EST (cfo.com)

Non-high yield issues are successful in the market.

business, debt, capital-markets

Moody's: Uncertainty Fogs Junk Outlook - - CFO.com

Seeded on Wed Jan 14, 2009 7:24 PM EST (cfo.com)

Moody's predicts that the U.S. junk bond default rate will hit 15.3 percent by the end of 2009 (this compares with 3.3 percent in 2008 and .3 percent in 2007.

business, bankruptcy, distressed-debt

Stock Prices Should Not Stop Deals, M.&A. Lawyer Argues - DealBook Blog - NYTimes.com

Seeded on Tue Jan 13, 2009 2:09 PM EST (The New York Times)

Look to relative prices (exchange ratios) rather than absolute prices in public "stock for stock" deals. These should be more and more common given the credit market.

business, m-a

Gloom at the AEA meetings | Drastic times | The Economist

Seeded on Sun Jan 11, 2009 7:55 PM EST (The Economist)

Downturns that follow a financial crisis are long and deep, an interesting historical analysis of "severe banking busts."

economy, arts, distressed

Moody's sees severe recession, rising defaults | Reuters

Seeded on Sun Jan 11, 2009 2:01 PM EST (Reuters)

Moody's predicts 10-12% high yeild default rate, 1.5 reduction in GDP in 2009. Do the credit rating agencies have any credibility left?

business, economy, distressed-debt, high-yeild-debt

JPM Commercial Real Estate loan "Nightmare" predictions

Seeded on Sun Jan 11, 2009 9:48 AM EST (Online Stock Trading Investing Day Trading)

With commercial property prices falling by as much as 40 percent from peak-to-trough, servicers may adopt an "extend everything" policy since liquidating assets in a distressed and illiquid market may cause deeper losses.

business, bankruptcy, real-estate, restructuring, distressed-debt

XE.com - UPDATE 1-Moody's sees severe recession; default rates up

Seeded on Sun Jan 11, 2009 9:44 AM EST (xe.com)

Moody's predicts 10-12% high yeild default rate, 1.5 reduction in GDP in 2009. Do the credit rating agencies have any credibility left?

business, bankruptcy, restructuring, distressed-debt

Bankruptcy With A Twist - Forbes.com - Ed Altman

Seeded on Sun Jan 11, 2009 9:41 AM EST (Forbes)

Excellent analysis of the appropriate way to structure an automotive bailout.

business, bankruptcy, distressed-debt

Roubini forecasts recession will last 2 years - MarketWatch

Seeded on Fri Jan 9, 2009 9:40 PM EST (MarketWatch.com)

Title says it all.

business, economy

Calculate Your Financial Comeback - Interactive Graphic - NYTimes.com

Seeded on Fri Jan 9, 2009 1:45 PM EST (The New York Times)

How long will it take you to make back your investment losses? An interesting tool by the New York Times.

business

Banks may need to raise fresh capital in '09: Whitney | Reuters

Seeded on Fri Jan 9, 2009 1:43 PM EST (Reuters)

With banks facing increasing losses, is there any doubt fresh capital will be needed. What is the likelihood that they will be eager to lend in this atmospere?

business, bankruptcy, banking, distressed-investing

Loans to Companies in Bankruptcy Dry Up - BusinessWeek

Seeded on Fri Jan 9, 2009 1:03 PM EST (Business Week)

DIP financing is the lifeblood/oxygen of any restructuring inside of bankruptcy. The current lack of DIP financing in the marketplace is well known to turnaround professionals. There is no questions that this will lead to more liquidations than would otherwise be the case.

business, bankruptcy, restructuring, distressed-investing

Ten Percent of Cos. May Lack Liquidity in 2009: Moody's - Capital Markets - CFO.com

Seeded on Mon Dec 29, 2008 1:56 PM EST (cfo.com)

Although investment grade companies should have sufficient liquidity to operate through 2009, Moody s notes that 15% of non investment grade borrows face a likelihood of violating covenants.

business, capital-markets, distressed-investing

Days of Treasuries as risk-free benchmark now in rearview mirror - Financial Week

Seeded on Mon Dec 22, 2008 11:42 AM EST (financialweek.com)

Treasury bubble could be very risky to the world economy.

business

Debt Recovery Prospects Darken - WSJ.com

Seeded on Mon Dec 22, 2008 9:42 AM EST (Wall Street Journal)

PIK toggle and covenant light loans result workout delays and a corresponding decreased in leverage loan recovery rates.

business, private-equity, leveraged-buyouts, distressed-debt

FT.com / Companies / Media - Newspaper asset sales draw few buyers

Seeded on Fri Dec 19, 2008 4:35 PM EST (FT.com)

Distressed media assets not attracting much interest. Is this due to industry issues or a larger symptom of the deal market?

business, bankruptcy, private-equity, distressed-investing

A Requiem for Private Equity - Mergers, Acquisitions, Venture Capital, Hedge Funds -- DealBook - New York Times

Seeded on Wed Dec 17, 2008 5:34 PM EST (The New York Times)

A summary of the deals done at the end of this cycle indicate an exercise in overleverage. Private Equity is a creature of leverage. Has the model been pertinently changed or is this a temporary setback?

business, private-equity, distressed-investing

Chapter 11 May Not Deter Some Car Buyers - WSJ.com

Seeded on Wed Dec 17, 2008 11:45 AM EST (Wall Street Journal)

Is anyone really surprised that a federally guaranteed bankruptcy would not impact auto purchasers decision making? GM needs to go into a court supervised restructuring now and begin the process.

business, autos, turnaround, restructuring, private-equity

FT.com / Columnists / Martin Wolf - 'Helicopter Ben' confronts the challenge of a lifetime

Seeded on Wed Dec 17, 2008 11:28 AM EST (FT.com)

Deflationary risks defined.

business, economics

Limited horizons (The Deal Newsweekly)

Seeded on Mon Dec 15, 2008 12:23 PM EST ()

The pendulum never stops in the middle. LP's over allocating to private equity in 2005-2006 (combined with the denominator effect) has led to a dramatic pullback in 2008-2009. The question is whether the 2009-2010 vintage will have dramatically increased returns.

business, private, equity