This right here is a story that would intrigue any red-blooded investment and business junkie:
Citigroup. Money. A gigantic equity buyout fund. High-yielding convertibles. Buying low, planning to sell high.
Ah, yes, capitalism and value investing at its finest.
This article from AP is quite agenda-driven, but it’s about the best you can find in the liberal financial media on the topic. It’s worth a perusal.
This article from Bloomberg is somewhat better on the agenda front, and far more detailed, although it’s melodramatic.
BTW, it’s good to know someone out there is a sentient, professional investor. Citigroup is so obviously a good buy at these depressed levels it’s not even open for debate.
Law + Order
The U.S. Supreme Court will rule on a legal challenge to a nanny state law from Maine that regulates cigarette sales and deliveries.
The law already was ruled invalid by a federal trial judge and a federal appeals court. The Supreme Court almost certainly will affirm and thereby snuff out that law. Here’s a link to a decent enough AP article on the subject.
They can have my Marlboro when they pry it from my cold dead hands….
Speaking of business news and of the Supreme Court, here’s a link to a good article — especially by AP standards — with no agenda, and no bias, on a dispute that would warm the heart of any 1-L law professor:
Two states. One river. One plot of land. A century-old land grant. Supreme Court procedure. A potential tie vote. Modern technology. Energy. Liquefied natural gas. Jobs. National security. The threat of potential terrorism.
Yep, that case pretty much has it all.
As they say, read the whole thing.