|chinaman - Mittwoch, 24. Oktober 2007 - 17:59|
| Als Antizykliker begebe ich mich mal in das Auge des Hurrikans. Dieses sind aktuell die amerikanische Hypothekenbanken. Ich gebe für mein Musterdepot ein Kauflimit für den Marktführer auf. |
Limit gilt für 300 Stk. CFC zu 13,75 USD an der Amex.
|chinaman - Mittwoch, 24. Oktober 2007 - 20:15|
| Auftrag zu 13,75 USD ausgeführt. |
|chinaman - Samstag, 27. Oktober 2007 - 05:10|
| Umrechnung des Kaufkurses in EUR: |
Wednesday, October 24, 2007
13.75 US Dollar = 9.67417 Euro
|chinaman - Samstag, 27. Oktober 2007 - 05:11|
| Market Scan |
Not As Bad As Expected For Countrywide
Andrew Farrell, 10.26.07, 10:00 AM ET
Countrywide Financial swung to a big loss during its latest quarter, but investors, glad that it wasn't worse, bought up the lender's shares.
Countrywide Financial (nyse: CFC - news - people ) announced a third-quarter loss of $1.2 billion, or $2.85 per share, from a profit of $647.6 million, or $1.03 per share, a year ago. Analysts polled by Thomson Financial expected a smaller loss of $1.28 per share.
Investors, though, had been preparing themselves for even greater damage. They had pushed down shares of Countrywide by 5.5%, on Thursday, and 20.8%, over the past five days. After the results were released, shares of Countrywide bounced back by $2.19, or 16.8%, to $15.26.
Investors were encouraged by the company's optimism. "During the period we also laid the foundation for a return to profitability in the fourth quarter," said Countrywide Chief Executive Angelo Mozilo. "Countrywide has responded decisively and taken the steps we believe are necessary to address the current challenging market environment."
Countrywide said it expected to earn between 25 cents per share and 75 cents per share, in the fourth quarter of 2007. Analysts had been expecting earnings of 21 cents per share.
Countrywide and other lenders are reeling as borrowers default on their loans at higher rates. The spiking defaults have forced Countrywide to lay off thousands of employees and line up billions of dollars in financing to stay afloat.
During the third-quarter, Countrywide put away $934 million to cover the cost of more loans souring. That was up from just $38 million, a year ago.
The spiking defaults have also decreased the attractiveness of mortgages to investors and sunk their value. Countrywide wrote down the value of its loans and securities by $1 billion, during the third quarter.
|al_sting - Samstag, 10. November 2007 - 18:47|
| Lower Ratings Would Hamper Countrywide |
By JAMES R. HAGERTY
November 9, 2007 8:35 p.m.
Countrywide Financial Corp. warned in a securities filing that further cuts in its credit ratings to junk-bond levels could "severely" limit its ability to raise money in public debt markets and cause it to lose bank deposits.
In a quarterly filing with the Securities and Exchange Commission late Friday, the Calabasas, Calif., home-mortgage lender said that a cut in its ratings to levels below investment-grade could prevent it from placing funds from custodial accounts at its savings bank subsidiary, Countrywide Bank. Ratings below investment grade also might cause Countrywide Bank to lose commercial deposits and limit the trading activities of the company's broker-dealer unit, Countrywide said.
The company's long-term debt is rated Baa3, the lowest investment-grade level, by Moody's Investor Service. All three ratings agencies "have placed our ratings on some form of negative outlook," the company noted.
Countrywide said it has lined up additional sources of funds to try to maintain its investment-grade rating. Among other things, Countrywide is relying more heavily on loans from the Federal Home Loan Bank of Atlanta. In addition, the company is promoting above-average interest rates on certificates of deposit to attract funds.
Countrywide said it believes it has "adequate funding liquidity," but that "the effect of future developments on the company may require us to … procure additional sources of financing." In August, Countrywide raised $2 billion by selling preferred stock to Bank of America Corp. That preferred is convertible into a stake of about 16% in Countrywide.
Countrywide also disclosed that 4.9% of the subprime loans it services were pending foreclosure as of Sept. 30, up from 2.9% a year earlier. For all loans in its servicing portfolio, the foreclosure rate rose to 0.9% from 0.5% a year earlier.
|al_sting - Mittwoch, 28. November 2007 - 15:49|
| The Stealth Public Bailout of Reckless |
“Countrywide”: Privatizing Profits and Socializing Losses
Nouriel Roubini | Nov 27, 2007
The letter by Senator Schumer questioning the $51.1 billion that Countrywide borrowed from the Federal Home Loan Bank system (specifically the Federal Home Loan Bank of Atlanta) has finally revealed the little dirty secret - that was known only to a few insiders and was noticed on this blog a month ago – that Countrywide, the largest US mortgage lender, has received a massive stealth public bailout that has put at severe risk taxpayers’ money. Here is Countrywide - the premier poster child financial institution of the reckless and predatory lending practices of the last few years – getting in severe financial trouble because of its rotten lending practice in subprime, near-prime and prime mortgages – and whose CEO Mozilo is under SEC investigation for potentially illegal activities – now receiving a massive $51.1 billion of public bailout money with little official supervision of such lending. Mozilo is under investigation for his accelerated sales of Countrywide stock under a 10b5-1 plan. Mozilo has made more than $100 million on stock sales this year, while Countrywide shares collapsed more than 50%.
As the Schumer letter correctly points out the collateral against this $51 billion loan is mostly toxic waste subprime garbage whose market value is now much lower than the face value of such mortgages; so $51 billion dollar of taxpayers’ money has been put at risk with garbage as collateral for it.
At least Northern Rock – that also received a massive official bailout in the UK – did so under the public scrutiny and serious criticism of such bailout by media, public, politicians and investors. Instead Countrywide – a huge mortgage lender that is most likely insolvent rather than illiquid – received a stealth bailout that only now is emerging to the public eye.
In the case of Northern Rock – another institution that is most likely insolvent rather than illiquid – the botched bailout led to public embarrassment for the Bank of England, the FSA and the UK Treasury. As authoritative analysts - such as Martin Wolf of the FT - have correctly argued, in cases where massive amounts of public money are at stake to bailout a nearly insolvent institution the fair punishment to the shareholders of such bank it to wipe out their equity and a public takeover – yes a nationalization – of the bank; that nationalization should be a temporary action to clean up the mess, get the incompetent and reckless shareholders and managers out, restructure the bank and then sell back to the private sector. Capitalism without punishment for reckless lending breeds moral hazard and pestilence.
As Wolf rightly put it:
If Northern Rock had been taken under public control at the same time, the Bank lending would have been unnecessary. Shareholders would have been wiped out, as was appropriate for an institution needing such a public rescue. The business would then have been sold off, in whole or in part, with any losses imposed on unsecured creditors (including the government). …What is now needed is better and more effective deposit insurance and bankruptcy provisions. If these had existed, Northern Rock would now be in some form of public administration and that is exactly where it should be today.
A fortiori the same public takeover should have been done in the case of Countrywide, the poster child of reckless mortgage lending and of the current mortgage disaster. Instead, rather than kicking out a reckless CEO - whose actions are now under SEC investigation – and putting the lender under public control, Countrywide has been rewarded with $51 billion of public money that was provided in a stealth bailout operation while the current shareholders and incompetent managers are still firmly in charge of the bank.
The right approach would have been - as Martin Wolf suggested for Northern Rock – to take over the bank and put it formally under public control. Instead the US Treasury, the FHFB, the Fed and the banking regulators have been tacit and/or explicit accomplices of the stealth public bailout of most egregious example of reckless and predatory lending, the core institution at the center of a subprime and mortgage disaster that is now taking the entire US economy into a recession.
The lesson of this sad and sleazy episode is that when profits are privatized and losses are socialized we get sleaze capitalism and corporate welfare that becomes public bailout of reckless lenders. All this from a US administration that hypocritically praises every other day the virtues of private markets capitalism. For all of us who do truly believe in free market economies where a variety of public goods are provided by governments and the financial sector is properly supervised and regulate this is not a capitalist system but rather socialism for the rich.
|chinaman - Mittwoch, 28. November 2007 - 15:58|
| Da mag sich aufregen wer will. Die Amis werden es nicht zulassen, dass der Marktführer die Wupper runter geht ... |
|al_sting - Donnerstag, 10. Januar 2008 - 21:58|
| Bank of America will Countrywide kaufen |
Die Bank of America zeigt Interesse an einer Übernahme der angeschlagenen US-Hypothekenbank Countrywide. Verhandlungen sollen bereits in fortgeschrittenem Stadium sein. Die Nachricht ließ die Countrywide -Aktie im Handelsverlauf zeitweilig um 62 Prozent steigen.
HB NEW YORK. Das Finanzinstitut Bank of America (BOA) führt Kreisen zufolge Gespräche über einen Kauf der angeschlagenen US-Hypothekenbank Countrywide.
Wie die Nachrichtenagentur Reuters am Donnerstag aus mit der Sache vertrauten Kreisen erfuhr, befinden sich die Verhandlungen in einem fortgeschrittenen Stadium. Ob es noch im Laufe des Tages eine offizielle Ankündigung geben werde, sei nicht klar.
Auch das "Wall Street Journal" berichtete unter Berufung auf zwei mit dem Vorgang vertraute Personen über die Gespräche. Die Konzerne waren für eine Stellungnahme zunächst nicht zu erreichen. Die Nachricht ließ die Countrywide -Aktie im Handelsverlauf zeitweilig um 62 Prozent steigen und zog auch die US-Börsen nach oben. BOA-Titel fielen zunächst, um dann leicht im Plus zu liegen. Auch andere Hypothekenbanken erhielten Auftrieb.
Washington Mutual-Titel stiegen um zehn Prozent und Indymac Bancorp-Aktien um 14 Prozent. Countrywide wurde von der Hypothekenkrise in den USA schwer getroffen. "Jemand muss die massiven Verluste einstecken, die es mit sich bringen wird, Countrywide wieder aufzurichten", sagte Sean Egan von Egan-Jones Ratings. "Das ist machbar, aber die Kosten werden exorbitant sein. Aus Countrywides Sicht ist ihre beste Chance auf Rettung", sagt er zu den Gesprächen.
BOA, die zweitgrößte Bank der USA, hatte im August zwei Milliarden Dollar in in das Institut investiert.
|chinaman - Freitag, 11. Januar 2008 - 09:39|
| Am Dienstag wurden noch Konkurs Gerüchte gestreut. Wie auch immer, das Timing zum Einstieg war äußerst bescheiden ... |
|chinaman - Dienstag, 22. Juli 2008 - 20:28|
| Die Countrywide Financial Übernahme durch Bank of America wurde abgeschlossen. Pro ausstehender CFC Aktie wurden 0,1822 BAC Aktien eingebucht. Bei der nächsten Musterdepotpflege wird die Transaktion entsprechend verbucht. |
Thread wird geschlossen.
|lambo111111 - Sonntag, 21. September 2008 - 19:59|
| MONA - up to 5 separate dividends in cash and stock |
MonArc (MONA) Business Development Corporation New Business Model
Thursday September 18, 9:40 am ET
BEIJING, Sept. 18 /PRNewswire-FirstCall/ - MonArc Corporation, www.monacorporation.com, (MONA.PK) is pleased to announce that it has updated its website to provide a more detailed perspective on its recently announced new business model as a Business Development Corporation (BDC).
MONA CEO Yong Chen advised; "We have undergone a 'big picture' analysis of our corporate strengths and weaknesses. The outcome is a clear change in direction in what we consider to be our core business. In essence, see ourselves as a hybrid type of incubator for Chinese private companies seeking to go public. However, unlike a typical incubator, we only intend to work with companies that already have proven success, demonstrable growth capabilities and are well past the development stage. Returning visitors should refresh their web browsers to see the new information, on our corporate web site.
Frankly, this year was a bit of a learning curve that ultimately led us to this point. There were certainly a few missteps, but overall, we are very excited about the near future.
The most recent two projects we have announced, Chinese Marketing Company (Sino-Medica) and Hubei Chuguan Industry Co. Ltd. are successful, well-established companies in their respective markets. We are talking multi-million dollar asset bases, top line revenues in the millions and very serious growth opportunities.
We will be adding more information regarding specific projects in the coming weeks. In the mean time we felt it was a strong priority to provide more information regarding the Company's new direction.
Our shareholders can expect up to 5 separate dividends in cash and stock from these transactions as we move projects towards completion in the coming months. Not to tip our hand, however initial numbers that are coming back indicate a factor pay out of 20 to 30 times greater than the current share price of MONA as a return in cash and stock to our long time shareholders and followers. This is in addition to the first dividend distribution for Good Life China, (GLCC) issued earlier this year".
Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: Certain forward information contained in this release contains forward-looking statements that involve risk and uncertainties, including but not limited to, those relating to development and expansion activities, domestic and global conditions, and market competition.
Telephone USA: (702) 508-4172, Mark Hamilton, Investor Relations
CONTACT: email@example.com; Telephone USA: (702) 508-4172, Mark Hamilton, Investor Relations
|chinaman - Donnerstag, 3. Dezember 2009 - 18:54|
|Ich trenne mich von der bescheidenen Anzahl von 55 Bank of America Aktien zum US Kurs von 16,11 USD. (= 10,68 EUR)|