MetLife Inc. has some $800 million in exposure to the now-collapsed Lehman Brothers Holdings Inc. and the just-rescued American International Group Inc. and is assessing the recoverability of those investments.
Dekania Corp., a special-purpose acquisition company looking to invest in an insurance business, announced Monday that it was merging with Chicago-based Advanced Equities.
The nation’s oldest money market mutual fund, The Reserve Primary Fund (RPRXX), fell below $1 in net asset value yesterday because of its exposure to debt from Lehman Brothers Holdings Inc.
An employer provided a worker with a lump-sum payment of approximately $35,000 during the first year of his disability, which he declared as income when he completed his tax return.
Morgan Stanley, which saw its stock fall as much 28% at one point on Tuesday after a drop of 13.5% on Monday, rushed out its fiscal third-quarter earnings report after the market closed today, trying to reassure investors that it is standing up to the market turmoil that has felled some top competitors.
“There will be massive defections of clients and advisers,” said Liz Nesvold, managing partner of Silver Lane Advisors LLC of New York. “The wirehouse model, which was damaged, is now broken.”
Unless you position your value as a retirement rollover resource for your top clients now, you risk losing out on the significant assets these clients hold away from you.
After a weekend of turmoil, shares of American International Group Inc. lost more than half their value in the first hour of trading.
Following this weekend’s turmoil on Wall Street, financial-sector job cuts may hit new heights, according to a report from Challenger Gray & Christmas Inc. of Chicago.
Companies involved in the operation of toll roads, airports and seaports represent a new asset class, according to some industry experts.
