Last Wednesday, an 8-K from Icahn Enterprises L.P. reported that its chairman, Carl Icahn, intends to use Tumblr, Facebook, Twitter and a particular website (www. www.shareholderssquaretable.com) to communicate about the company and “other issues.” The 8-K acknowledges that it is possible that the information he posts could be deemed to be material information, and therefore the company encourages investors, the media and other interested parties to review this information along with traditional investor relations communications channels such as its own website, SEC filings and press releases.  

(posted 1 week 7 hours ago)

Receiving Wide Coverage ...

Big Changes at Citi: Citigroup probably won't want to include this week in its highlights reel. Its Mexican unit, Banamex, is embroiled in another scandal; not unrelatedly, reports are circulating that Manuel Medina-Mora, the bank's head of consumer banking and chairman of Banamex, is planning to step down; and in a separate decision, the so-called "everywhere bank" is shutting down businesses in 11 countries, including El Salvador, Japan and Egypt. The Times...

BankThink
(posted 1 week 7 hours ago)

Finding the right financial advisor can make a significant impact on your investment dollars. Are you approaching the financial advisor hunt in the wrong way? AIMkts has advice for how to begin your search.

Read the entire article here.
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(posted 1 week 7 hours ago)

Here’s the latest news and events from DailyDAC, LLC. Don’t forget to check out the newest listings on the Opportunistic Deal Database and the Mature Deal Database!
Click here to read the full newsletter.

(posted 1 week 18 hours ago)

When I first heard about the NY Fed's Doomsday book, my initial thought was, "Wow, they've got a comprehensive survey of land titles, so MERS really isn't an issue!" Then I realized it was a Doomsday book, not a Domesday book. Apparently the Doomsday book is some sort of "in case of emergency" do-it-yourself bailouts manual that outlines the steps the NY Fed believes it can legally take to stave off economic Armageddon. 
I'm rather puzzled by the NY Fed's claim that it should be kept under seal.  I guess we'll find out more of the Fed's reasoning soon enough, but it hardly seems to be particularly sensitive of secret information.  This isn't the Coca-Cola recipe or some sort of trade secret. It's hard to believe that we didn't see the full panoply of the Fed's bailout powers on display in 2008, and perhaps then some. (A colleague has suggested that they might be developing some sort of secret, stress-tested, boilerplate clad bailout machine in the basement of the NY Fed. Of course such a bailoutbot would exercise its own free-living-will. Its only vulnerability would be following a haircut.)
The fact that the Doomsday book apparently contains legal advice is not a seal issue--that's a privilege issue. Once that privilege is waived (I'm guessing it has been), I can't see why the fact that the document includes legal advice presents cause for remaining under seal. 

Credit Slips
(posted 1 week 19 hours ago)

The question arose recently as to whether or not a person should pay off their chapter 13 with inherited money that was received after the case was filed. The answer to that really depends upon whether or not the person is in a 100% paid back or whether or not the person is in a+ Read More
The post There Are Times When Not To Pay Off Your Chapter 13 appeared first on David M. Siegel.

(posted 1 week 23 hours ago)
An employee assists customers ordering baked goods during the reopening of a Crumbs Bake Shop Inc. store in New York on Tuesday.
Bloomberg

In a Midtown Manhattan storefront partially obscured by scaffolding, a crowd gathered Tuesday to welcome back Crumbs Bake Shop, the cupcake chain that shut its doors and filed for bankruptcy in July.
Two of the chain’s new owners, self-styled turnaround guru Marcus Lemonis and Scott Fischer, whose company also owns Dippin’ Dots, milled around the room. Employees, press reps and others from the new management team squeezed into the space not already occupied by hulking video cameras.
The crowd left little room for what some might call an important contingent—the customers.

WSJ.com: Bankruptcy Beat
(posted 1 week 1 day ago)

Creditors can take your self respect, and leave you holding a financial catastrophe. What creditors can take should be up to you, not to them. But it rarely works out that way. Consumers dealing with a bill collector usually feel powerless and helpless.
Receiving a phone call from a bill collector is not pleasant. But, it isn’t supposed to be. For one thing, it is intimidating. People see the bill collector as an authority figure. The collector knows their call makes you feel small, and powerless. What is behind this fear reflex we feel when a collector calls us?

Los Angeles Bankruptcy Blog
(posted 1 week 1 day ago)

Real-time payments would undoubtedly benefit some consumers and companies, but same-day payments can address many current needs. To that end, Nacha is working on a phased-in approach to implementing multiple same-day settlement windows.

BankThink
(posted 1 week 1 day ago)

A risk-based approach to anti-money laundering rules would allow regulators to be sure mobile transactions are being screened for suspicious activity without hindering the technology's potential to do social good.

BankThink
(posted 1 week 1 day ago)