Wednesday, February 4, 2009

Late Wednesday Headlines

Brief headlines here as we go thru the Madoff list and try to determine if Kim Kardashian is now trustfundless:

  • Ford in talks to sell Volvo to China's Geely Auto (Bloomberg)
  • Here come the Treasuries (FT)
  • Bank Rossii's generosity will be the reason for its downfall (Bloomberg)
  • Credit card delinquencies at record high (FT)
  • Hedge Fund Galleon Group is expanding aggressively into Asia (Bloomberg)
  • Unlike the U.S., Russia tells businesses not to rely on state (Moscow Times)
  • Bankrupt copper miner Asarco likely to be acquired by Sterlite (Bloomberg)

Oh and a bit more on Aleris: sources inform us that the Company has hired Weil Gotshal and Alvarez & Marsal, both of Lehman bankruptcy fame, to advise on the upcoming restructuring, and that the extruded aluminum products maker is seeking an up to $400 million DIP. However, when it heard about the cost (at least L+1000) it may have decided against it. As a reference point, if the situation at Aleris goes from bad to worse, it will likely imply that debt-free aluminum heat-plate competitor Kaiser Aluminum may stand to benefit as Aleris' woes mount.

Sphere: Related Content
Print this post

1 comments:

thevisiblehand said...

Check this out:

http://www.creditwritedowns.com/2009/02/goldman-says-fund-managers-expect-deflation.html

Goldman's survey has 83% of macro managers expecting deflation.