Antony's Feed
Jan 24, 2013

Wall Street finds new way to put investors second

(The author is a Reuters Breakingviews columnist. The opinions
expressed are his own.)

By Antony Currie

NEW YORK, Jan 24 (Reuters Breakingviews) – Wall Street has
found a new way to put shareholders second. While many banks are
finally bowing to pressure to restrain compensation, Goldman
Sachs (GS.N: Quote, Profile, Research) and JPMorgan (JPM.N: Quote, Profile, Research) are now trying to stifle
investors from voting on legitimate matters at their upcoming
annual meetings.

Jan 24, 2013

Breakingviews:M&A boutiques show signs of staying power

(The author is a Reuters Breakingviews columnist. The opinions
expressed are his own.)

By Antony Currie

NEW YORK, Jan 24 (Reuters Breakingviews) – If Greenhill’s
(GHL.N: Quote, Profile, Research) results are anything to go by, M&A boutiques should have
a certain degree of staying power. The firm led by Scott Bok on
Wednesday reported a 4 percent drop in advisory revenue last
year, a week after larger rivals JPMorgan (JPM.N: Quote, Profile, Research) and Morgan
Stanley (MS.N: Quote, Profile, Research) posted declines of 17 percent and 21 percent,
respectively. It’s a good sign for smaller shops if they can
handle a weaker market as well as a strong one.

Jan 22, 2013

Breakingviews-U.S. Bancorp puts rivals big and small to shame

(The author is a Reuters Breakingviews columnist. The opinions
expressed are his own.)

By Antony Currie

NEW YORK, Jan 22 (Reuters Breakingviews) – Don’t look to
Wells Fargo (WFC.N: Quote, Profile, Research) for the best earnings among America’s top 20
banks. The San Francisco-based lender bested the likes of
JPMorgan (JPM.N: Quote, Profile, Research) and Goldman Sachs (GS.N: Quote, Profile, Research) and dusted laggards
Bank of America (BAC.N: Quote, Profile, Research) and Citigroup (C.N: Quote, Profile, Research). But it’s U.S.
Bancorp (USB.N: Quote, Profile, Research) that puts both industry behemoths and smaller
peers to shame.

Jan 17, 2013
via Breakingviews

Citi, BofA give investors only reasons to fret

Photo

By Antony Currie and Agnes T. Crane

The authors are Reuters Breakingviews columnists. The opinions expressed are their own.

Bank of America and Citigroup are giving investors nothing but reasons to fret. The two U.S. banks’ stocks were among the best performers last year – BofA’s doubled, while Citi’s jumped by 50 percent. But their fourth-quarter earnings, which both unveiled on Thursday, offer little to support further optimism.

Jan 14, 2013
via Breakingviews

Fiat pegs Chrysler as most undervalued carmaker

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By Antony Currie
The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

Fiat Chief Executive Sergio Marchionne seems to want Chrysler to be the most undervalued automaker. That’s the implication of his latest offer to buy a slice of the Motown manufacturer from the United Auto Workers’ retiree healthcare trust. Marchionne has put $198 million on the table for 3.3 percent, valuing 100 percent of Chrysler’s stock at $6 billion. It’s worth much more.

Jan 3, 2013
via Breakingviews

SeaWorld IPO may not make second investment splash

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By Antony Currie
The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

SeaWorld’s next investment splash might be smaller than its last. Blackstone Group is ready to take public the amusement parks it bought in 2009 from Anheuser-Busch InBev. Dividends have helped the buyout firm recoup a big part of its original cash outlay already and it may end up trebling its money. But new buyers hoping for a similar performance after the initial public offering should beware getting soaked.

Jan 3, 2013

Breakingviews-SeaWorld IPO may not make second investment splash

(The author is a Reuters Breakingviews columnist. The opinions
expressed are his own.)

By Antony Currie

NEW YORK, Jan 3 (Reuters Breakingviews) – SeaWorld’s next
investment splash might be smaller than its last. Blackstone
Group (BX.N: Quote, Profile, Research) is ready to take public the amusement parks it
bought in 2009 from Anheuser-Busch InBev (ABI.BR: Quote, Profile, Research). Dividends
have helped the buyout firm recoup a big part of its original
cash outlay already and it may end up trebling its money. But
new buyers hoping for a similar performance after the initial
public offering should beware getting soaked.

Jan 3, 2013

Breakingviews-Wall St could learn a thing or two from Detroit

(The author is a Reuters Breakingviews columnist. The opinions
expressed are his own.)

By Antony Currie

NEW YORK, Jan 3 (Reuters Breakingviews) – Wall Street could
learn a thing or two from Detroit about getting the business
back on the road. Both needed government aid in 2008. But it is
the automakers that have restructured and become decently
profitable in straitened times. Motown’s chiefs can more easily
justify big pay days too.

Jan 2, 2013
via Breakingviews

Avis gives Zipcar a faster lane to profitability

Photo

By Antony Currie
The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

Avis Budget is giving Zipcar a faster lane to profitability. Selling to the mainstream car rental giant for $500 million means a 32 percent loss for those who bought shares in Zipcar’s 2011 initial public offering. But it will allow the car-sharing company to boost its margins by tapping into Avis’s underused fleet.

Jan 2, 2013

Breakingviews-Lehman could be 2013′s Humpty Dumpty

(The author is a Reuters Breakingviews columnist. The opinions
expressed are his own.)

By Antony Currie

NEW YORK, Jan 2 (Reuters Breakingviews) – Lehman Brothers
could be the Humpty Dumpty of 2013. It’s not quite as crazy an
idea as it sounds. The defunct firm’s two biggest operating
businesses – both snapped up by rivals in 2008 – could be up for
grabs in the next 12 months. Stitching the old firm back
together could be an enticing project.

    • About Antony

      "Antony Currie has more than a decade of experience as a financial journalist, having worked with Euromoney since 1996, most recently as a U.S. editor. He has worked on assignments in the major financial centers of Europe and the U.S. and written stories on capital markets, global economies and the investment banking industry. He holds a bachelor's degree in German language and literature and a master's degree in politics and international relations from the University of Bristol."
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