Saturday, November 03, 2007

MSNBC - "Making the most of spare time" (11-2-07)

"Anyone who has considered a full-time MBA program already knows about the ugly economics. Tuition and living expenses can set you back more than a year's salary, and taking two years off adds another two—in all, more than 300 large for a top program. That's why many managers opt for one of three basic alternatives: an executive MBA program, typically offered on weekends and designed for senior managers; a part-time degree program, designed for mid-level managers and offered in a nights-and-weekends format; and executive education, shorter nondegree courses that in many cases are created for specific corporate clients. BusinessWeek has been ranking executive MBA and executive education programs since the 1990s, and this year we are launching a new ranking of part-time MBA programs as well."


Yahoo - "Hot Spots That Have Cooled Lure Savvy Retirees" (11-2-07)

"Sinking housing prices are stressing homeowners. But behind 'for sale' signs in some desirable locales lie golden opportunities for retirees who can choose when and where they want to move. To identify some of the best values in places to retire, we talked to industry insiders who follow housing trends, checked national real estate databases, and contacted local brokers."

Bloomberg - "Merrill Falls on Concern Writedown May Be $10 Billion" (11-2-07)

"Merrill Lynch & Co. fell the most in six years, leading financial stocks lower for a second day, after Deutsche Bank AG said the world's biggest brokerage may write down an additional $10 billion for losses on subprime assets. 'We have increasingly lost confidence in the financials of Merrill,' Deutsche Bank analyst Michael Mayo said in a report today. 'Merrill may have additional credit rating downgrades' should the New York-based firm be forced to write down the value of its debt holdings, Mayo said."

Reuters - "Citigroup, Merrill bonds imply lower ratings" (11-2-07)

"Credit investors are betting top-rated bonds of Citigroup Inc and Merrill Lynchare ove and may be vulnerable to ratings cuts, as Merrill credit is now trading as low as junk. The spreads, or the yield premium over U.S. Treasuries investors demand to hold Citigroup and Merrill bonds, widened on Friday after Deutsche Bank said more than $10 billion in write-downs are expected from large U.S. banks in the fourth quarter, mostly from Citigroup and Merrill."

CNN - "Bond Insurers Slump Amid Subprime Mortgage Concerns" (11-2-07)

"Bond insurers slumped on Thursday amid concern that they may be hobbled by rising defaults on subprime mortgages and downgrades of the asset-backed securities tied to those loans. Shares of Ambac Financial (ABK) , a leading provider of guarantees on bonds, asset-backed securities and structured credit products like mortgage-backed securities and collateralized debt obligations, slumped 20% to close at $29.57 on Thursday. The company has lost half its market value in the past two weeks."


Bloomberg - "Emerging-Market Bonds Fall as Subprime Woes Spur Risk Aversion" (11-2-07)

"Emerging-market bonds fell, led by declines in Argentine securities, as losses related to subprime mortgages prompted investors to shed riskier assets. Developing nation debt fell for a second day as credit market worries continued with speculation Barclays Plc approached the Bank of England for emergency funding. The Wall Street Journal said regulators may be investigating whether Merrill Lynch & Co. violated accounting rules to delay reporting subprime losses."

Market Watch - "Congress asked to help contact at-risk borrowers" (11-2-07)

"A top U.S. Treasury official asked for congressional help Friday in reaching out to borrowers with risky mortgages. Robert Steel, undersecretary for domestic finance, said in prepared remarks to a House Financial Services Committee hearing that a direct-mail campaign to at-risk borrowers is starting up Nov. 19."

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