Loren C. Steffy's Blog, page 66
October 17, 2011
Kinder Morgan and El Paso: the deal's winners and losers (Updated)
Kinder Morgan's $21.1 billion offer for El Paso Corp. appears to be a good deal for both companies' shareholders, and of course, for Rich Kinder himself. Kinder controls about 219 million Kinder Morgan shares, which as of late morning had risen about $1.70 from Friday thanks to the El Paso deal. That means Kinder's stake [...]
Kinder Morgan and El Paso: the deal's winners and losers
Kinder Morgan's $21.1 billion offer for El Paso Corp. appears to be a good deal for both companies' shareholders, and of course, for Rich Kinder himself. Kinder controls about 219 million Kinder Morgan shares, which as of late morning had risen about $1.70 from Friday thanks to the El Paso deal. That means Kinder's stake [...]
Kinder Morgan's bid for El Paso shows timing is everything
Kinder Morgan's $21.1 billion offer for El Paso Corp. is awash in superlatives: one of the biggest mergers this year; the energy industry's biggest deal in more than a year; it will create the world's biggest pipeline network and if you put that network end to end; and it would encircle the globe three times. [...]
October 13, 2011
For BP and its partners, what does $45 million mean?
Ironically, the federal government began the process of fining the companies involved in the Deepwater Horizon accident just as major oil companies, including BP, are set to report third-quarter earnings. The numbers won't be as strong as investors had hoped, but Barclays is predicting that the 19 majors and big integrated companies in the Americas [...]
October 12, 2011
Wall Street is still too big
That's what the numbers show. Investment banks cut 22,000 jobs since the financial crisis, which is about 12 percent of its workforce, according to a report by New York State Comptroller Thomas DiNapoli. He predicts another 10,000 jobs will be lost between now and then end of next year. Even so, that will reduce Wall [...]
October 11, 2011
After Solyndra, the solar boondoggles continue
After the Solyndra debacle, the Department of Energy might have learned the folly of using federal grants to pay for jobs, but apparently not. The government, it seems, is still paying premiums for hollow promises. As David Phillips writes at 24/7 Wall Street, two publicly traded solar companies, SunPower and First Solar, have received billions [...]
October 10, 2011
Netflix: The Qwikster and the dead
Well, that didn't take long. Three weeks after Netflix announced plans to separate its DVD business from its streaming video service, the company has scrapped the idea. Netflix CEO Reed Hastings told customers that "it is clear that for many of our members two websites would make things more difficult" and also vowed there would [...]
October 7, 2011
An unexpected sign of the `Occupy Houston' protests
Christopher Keeble, though, seemed a little out of place. He was wearing a tie and holding a sign that read "I s his love of capitalism that caused him to show up.
October 6, 2011
Steve Jobs showed what our economy needs
Today will be filled with tributes to Steve Jobs from around the world as journalists, businessmen and geeks try to put the achievements of Apple's founder into perspective. Certainly, Jobs' designs — from the Apple II to the iPad — changed the world. Jobs' greatest achievement, though, is something more subtle: he showed us the [...]
October 5, 2011
CNN's Erin Burnett wields facts against Wall St. protests
Ezra Klein offers a more poignant look at some of the protestors. Beneath all the antics, there are those who are frustrated because they did what they were supposed to do and have only debt to show for it. As Klein puts it: The organizers of Occupy Wall Street are fighting to upend the system. [...]
