Antony's Feed
Jan 2, 2013
via Breakingviews

Avis gives Zipcar a faster lane to profitability

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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.

Dec 27, 2012

Bank CEO survivors’ club may shrink again in 2013

(The author is a Reuters Breakingviews columnist. The opinions
expressed are his own.)(Refiles to correct date in dateline.)

By Dominic Elliott and Antony Currie

LONDON/NEW YORK, Dec 27 (Reuters Breakingviews) – At least
one of the three big bank chief executives to survive the
financial crisis could be without a job by the end of 2013.
Goldman Sachs’s (GS.N: Quote, Profile, Research) Lloyd Blankfein, JPMorgan’s (JPM.N: Quote, Profile, Research) Jamie
Dimon and Brady Dougan at Credit Suisse (CSGN.VX: Quote, Profile, Research) have each
suffered setbacks in the past year or more. The two U.S.-based
bosses have done a better job of shrugging those off. But Dougan
looks vulnerable.

Nov 27, 2012
via Breakingviews

Lehman’s Archstone saga twists till the end

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

The Lehman Brothers Archstone saga is twisting till the end. The U.S. apartment empire that helped buckle the investment bank in 2008 is being sold for $6.5 billion to rivals Equity Residential and AvalonBay Communities. Accounting changes and poor disclosure muddle the valuation. It’s a perfectly confounding denouement.

Nov 21, 2012

RBS’s Citizens unit all dressed up, nowhere to go

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

By Antony Currie

NEW YORK, Nov 21 (Reuters Breakingviews) – Citizens Bank, a
fixture of the northeastern United States, is a prize asset. And
its owner, RBS (RBS.L: Quote, Profile, Research), could be a forced seller. In theory,
that should mean a bidding war if the taxpayer-owned UK bank
decides to sell. But the need to pay cash, keep their own
investors happy and satisfy watchdogs may give buyers pause.

Nov 20, 2012

JPMorgan CFO rejig leaves only Dimon unpunished

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

By Antony Currie

NEW YORK, Nov 20 (Reuters Breakingviews) – JPMorgan’s
(JPM.N: Quote, Profile, Research) latest executive reshuffle is one more step in
consigning the disastrous “London Whale” trade to history.
Promoting Marianne Lake to replace Doug Braunstein as chief
financial officer ticks a number of boxes for the bank. But one
last trick is needed to harpoon the episode for good. Chief
Executive Jamie Dimon remains unpunished for the fiasco
responsible for more than $6 billion of losses. Clawing back
some of his pay would complete the clean-up.

Nov 13, 2012
via Breakingviews

Tesla’s risky vision puts Detroit to shame

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

Tesla’s risky vision for the car of the future is putting Detroit to shame. The Silicon Valley-based electric carmaker run by Elon Musk is racking up some prestigious awards for its new sedan. On Monday, Motor Trend became the third respected industry publication to bestow the Model S with a 2013 Car of the Year gong. That’s better than Motown, European or Japanese manufacturers managed.

Nov 5, 2012
via Breakingviews

Morgan Stanley thumbs its nose at UBS approach

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

Morgan Stanley is thumbing its nose at the UBS approach. The Swiss group decided last week to close large swaths of its fixed income business, putting Wall Street rivals on the spot. Morgan Stanley also has struggled to earn a decent crust buying and selling bonds, commodities and the like. But Chief Executive James Gorman is tapping FICC boss Colm Kelleher to run the entire investment bank, suggesting he thinks he can make a serious go of the business.

Oct 31, 2012
via Breakingviews

Disney puts faith and $4 bln in power of the Force

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By Antony Currie and Rob Cox
The authors are Reuters Breakingviews columnists. The opinions epxressed are their own.

Bob Iger and George Lucas are either flaunting their California roots, or they’ve got something to hide. The Walt Disney boss unveiled a $4 billion purchase of the Star Wars and Indiana Jones creator’s homegrown studio, Lucasfilm, on a day when Wall Street and stock markets were shut down by Hurricane Sandy. It’s just as well: Iger is asking his shareholders to put lots of faith in the power of the Force.

Oct 25, 2012
via Breakingviews

Lazard advises Wall Street on how to take the pain

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

Lazard is showing Wall Street how to take the pain. The M&A advisory and asset-management firm will slice off $125 million of expenses, or some 8 percent of the total, by the end of the year. That means Christmas has come early for investors, chiefly activist Nelson Peltz, though not for some of Lazard’s employees. While the firm still shells out more on its staff than rivals, the move is consistent with Chief Executive Ken Jacobs’ goal to boost shareholder returns.

    • 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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