Summit Notebook

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 – ‘Off to the Outlets’ — A new real estate mantra

June 23, 2009

When it comes to shopping for bargains these days, retailers are expanding their window of possibilities the same way as increasingly price-conscious consumers.

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.

NYSE if Grasso were in charge? Bankrupt, says Liquidnet CEO

May 11, 2009

The emergence of off exchange stock trading in the United States in the past 10 years has eaten away at the market share of the New York Stock Exchange and Nasdaq by breaking their duopoly.

AUDIO – Wait a minute, we have to pay for all this stuff?

May 7, 2009

Unfortunately, we do.

All the infrastructure projects in the world sound great! They look awesome on paper, they’ll make people’s lives better and they’ll let us go visit our friends and families in about half the time it used to take.

AUDIO – Everything has a cost

May 6, 2009

There’s no such thing as a free lunch.

Or bridge. Or turnpike.

Every project we’re talking about at Reuters first-ever Reuters Infrastructure Summit has an enormous cost — sometimes in the hundreds of billions of dollars. And governments are looking for ways to pay for it all.

AUDIO – Finding a model; then build, baby, build!

May 6, 2009

Infrastructure spending. Public-private partnerships. Government buildouts.

This week, all of these kinds of phrases are much on the mind of our guests at the first ever Reuters Infrastructure Summit held in New York, San Francisco and Washington.