Summit Notebook

AUDIO – The ‘new normal’ for the U.S. auto industry

November 2, 2009

A few years ago, one of the guests at our annual Reuters Autos Summit — Tom Stallkamp from Ripplewood — pretty much stopped everyone dead in their tracks by predicting that auto sales in the United States was likely to fall to an obscenely low level of 14.5 million.

from Blogs Dashboard:

Count on it: in three generations your rich client will be poor

October 6, 2009

It turns out that advisers to ultra-rich aren’t always so flush themselves. So, what happens, if, say, you spend a day on your client’s fancy yacht, then go back to your own tiny dinghy?

Restructuring calls heat up

September 30, 2009

After a cool few months, the phones are heating up again for restructuring advisors. 

from Funds Hub:

The morgue after Christmas

September 28, 2009
Around this Christmastide banks will begin to take a strict approach to companies running out of money, according to Simon Davies, managing director of The Blackstone Group.  

AUDIO – Real estate’s ugly confluence

June 24, 2009

All week, we have been meeting real estate executives at Reuters Global Real Estate Summit who have discussed the many different areas of concern that have spread throughout the sector.

AUDIO – A new emerging market for real estate

June 23, 2009

Remember the good old days where — if you lived in the United States anyway — people would talk about “emerging markets”?

AUDIO – A record-setting blog!

June 22, 2009

Everyone likes to set records. Think about those two giant twins who felt the need to ride motorcycles for their Guinness Book of World Records picture. What were those guys thinking?

AUDIO – Pulte Homes and the Cycle

June 22, 2009

It’s not a motorcycle or a unicycle – we’re talking the overall real estate business cycle.

Lamenting the good ol’ days

May 13, 2009

    The sprouting of privately-held alternative trading venues has seriously mucked up the trading landscapes in the United States and elsewhere, or so says Thomas Caldwell, chairman and chief executive of Caldwell Financial.
    Caldwell, founder of a major exchange investment firm, sees a world that has quickly evolved into one of nimble, electronic players coupled with more and more trading venues with the proliferation of alternative trading systems, or ATSs.
    (They’re also called electronic communications networks (ECNs) in the United States and multilateral trading facilities (MTFs) in Europe).
    These new venues, which can include the ominously-named dark pools, or alternative venues, where they can secretly match buy and sell orders, leads to, among other things, “deeply flawed” pricing for market participants, in Caldwell’s view.
    The idea of bank-backed stock trading venues is also suspect, says Caldwell.
    “Publicly-owned exchanges, open and visible trading, an auction market environment,” he said during the Reuters Exchanges and Trading Summit in New York.
    “These are centerpieces if you really want an economy to grow and you want to encourage entrepreneurs with access to capital. The more we get into gamesmanship and side products and all this other stuff it depletes from this.”
    (Posted by Jennifer Kwan)

How to gum up an exchange merger: salt water

May 13, 2009

It’s a puzzle M&A bankers and corporate executives have been trying to solve for years: how far from your home market can an acquisition take place and ultimately stumble over cultural differences? It’s a question that looms large as quintessentially Italian automaker Fiat prepares to swallow up Chrysler – inventor of the K-car and the minivan – and which reportedly haunts St Louis-based employees of Anheuser Busch in the aftermath of their company’s takeover by the penny pinching Belgians and Brazilians at InBev.