Warren Buffett and Jamie Dimon are at it again. The pair joined forces today on a WSJ op-ed to call for an end to earnings guidance. Is this really the best advice they have to offer given the issues that dominate boardrooms today?
Three months after its IPO, Groupon reported earnings that were good but not as good as many expected, and the shares tumbled. You might expect the management team to be rattled and strike a defensive tone on its conference call with investors. Instead, the call was all business: detailed, candid and orderly. Groupon CEO Andrew […]
As reported today, the US Securities and Exchange Commission has introduced guidance for financial firms related to reporting of their European debt exposure. The SEC issued its recommendations to address the inconsistent approach firms have used to disclose their risk to sovereign and private borrowers: “In response to our comments on their disclosure documents, registrants […]
Embattled investment bank Jefferies reported stronger-than-expected earnings and a slimmed-down balance sheet, confounding critics and sending the firm’s shares on a surge. The news marks a victory for the firm’s management and vindicates its strategy of aggressive communication during a crisis, as the firm sought to dispel rumors about its trading exposure and liquidity. Of […]
At this hour, executives and MF Global are huddling with bankers and lawyers, trying to come up with a deal to sell the firm. It must seem like a surreal exercise, since just days earlier the firm held a solid investment-grade credit rating and a market cap of $620 million. Now, as its clients turn […]
The note earlier today by Morgan Stanley CEO Jim Gorman addressing what he called “confusion and misinformation” about the firm wasn’t too reassuring. It’s not likely to quell the rumors about the firm, nor does it do much to improve Gorman’s stature. By penning such a short memo (a mere 218 words), Gorman clearly did […]