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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Smiling Bob who wrote (113222)	3/28/2008 10:11:55 AM
From: Smiling Bob	Read Replies (2) \| Respond to of 306849

Take another toke and hit that buy button ---- DJ Financial Services Top Stories Of The Day . FINANCIAL SERVICES TOP STORIES CITI, WACHOVIA SEEN CUTTING DIVIDENDS Citigroup and Wachovia will likely have to announce dividend cuts next month, as shrinking earnings will make it hard to support current payouts, Oppenheimer analyst Meredith Whitney says in a note to clients. LEHMAN CLIMBS AFTER CITI RATES IT A BUY Shares climb 3% after Citigroup analysts advise investors to buy shares of Lehman, saying the bank doesn't face a liquidity crisis and arguing its shares have been beaten down too far. CITI LEADERSHIP OVERHAUL CONTINUES Bank names Nick Roe to head its global equity finance and prime brokerage business, as CEO Pandit continues to overhaul Citi's senior leadership. Outsider Terri Dial, who currently runs Lloyds TSB Group's U.K. retail-banking business, will take over Citi's beleaguered U.S. consumer business. BLACKROCK LAUNCHES NEW $500M FUND IPO Fund management giant launches a $500 million initial public offer for a fund of hedge funds that will trade on the London Stock Exchange, in a deal that will test investor demand for a new entrant in a thriving market. Shares gain 2% in New York. FDIC ORDERS FREMONT'S BANK TO RECAPITALIZE Fremont General shares drop 13% after the cash-strapped mortgage lender says California and the Federal Deposit Insurance Corp. have ordered it to recapitalize the books of its investment and loan bank within two months or sell the unit. ASSURED GUARANTY RE-EXAMINING COUNTRYWIDE LOANS Assured Guaranty is re-examining lending documents for some of the $2.1 billion in guarantees it wrote for home equity lines of credit issued by Countrywide Financial to see if the loans meet Countrywide's stated terms. TISBURY CAPITAL MAY SEE $1.4B IN WITHDRAWALS Investors in Tisbury Capital are trying to withdraw $1.4 billion of the London hedge fund's $2 billion of assets under management after the fund abandoned a U.S. venture, reports the Financial Times. CHAIRMAN CAYNE SELLS BIG BEAR STAKE James Cayne, now chairman of Bear Stearns's board, and his wife sell 5.7 million shares at a price of $10.84 apiece, creating just $61.3 million in paper profit. Sale came a day after board agrees to JPMorgan's raised bid, suggesting he doesn't see a better offer coming. HAWAIIAN TELCOM NO PARADISE FOR CARLYLE When Carlyle Group bought the largest Hawaiian phone company from Verizon in 2005, it expected the deal to turn into big money. Instead, it's been a money drain for Carlyle and a headache for the customers of Hawaiian Telcom. DEUTSCHE BANK'S CREAKING CAPITAL RATIOS There was a time last year when Deutsche Bank management looked like the smartest guys in the room. But Germany's premier bank will enter the second quarter of 2008 with an unusually stretched balance sheet, writes Arindam Nag. CREDIT CRUNCH HITS UK HOUSING, FINANCIAL SERVICES The credit crunch is choking the key U.K. economic growth engines that are most vulnerable to a reduction in the supply of cheap loans -- and consumers are taking note, writes Paul Hannon. LEHMAN FALLS AMID HEAVY OPTIONS TRADE Lehman Brothers shares slide 8.9%, and options traders are placing heavy bets that they will continue to fall. The volume of trading in Lehman's options appears to be the highest since at least 1994 or perhaps ever. CITI SUED OVER AUCTION-RATE MARKETING Citigroup and its securities unit become the latest Wall Street bank to be sued over allegedly deceptive marketing of auction-rate securities. Suits allege that auction-rate securities represented as liquid equivalents to money-market funds. PRIMARY DEALERS TAP NEW FED CREDIT FACILITY Investment banks this week continue to tap extensively into a new U.S. Federal Reserve facility created to stem the credit crisis. Lending totaled $37.023 billion as of Wednesday, up from $28.8 billion the previous week. LEHMAN TAPS BOURGEOIS FOR GLOBAL POST Mark Bourgeois starts in May as managing director and co-head of global institutional distribution. He joins the current head of global institutional distribution, Eric Johnson, who focuses on traditional products since 2005. DEUTSCHE BANK LAYS OFF 20 IN CMBS DIVISION The bank, which has about 500 people in its commercial real estate team globally, lost a dozen folks from the U.S. team and the rest were in the U.K. Commercial mortgage loans and securities are at a virtual standstill. BANKS ASK TO MOVE CLEAR CHANNEL SUIT Banks backing Clear Channel deal ask to move litigation from a state court in Texas to a federal court, where they may find a friendlier judge. Clear Channel shares jump nearly 10% after court issues a temporary restraining order. ACCENTURE NET UP 37%, HELPED BY DOLLAR Consulting and outsourcing company reports net income of $406.6 million, or 64c a share. Revenue rises 17% to $6.06 billion. The company raises its fiscal 2008 EPS view amid surging revenue overseas. Shares rise 2%. A DECADE LATER, MERIWETHER SCRAMBLES AGAIN Ten years after overseeing a hedge-fund collapse that buckled the world's financial markets, Long-Term Capital founder John Meriwether again is scrambling to stem losses and keep investors from jumping ship as his biggest fund plunges 28%. (END) Dow Jones Newswires March 28, 2008 10:00 ET (14:00 GMT) Copyright (c) 2008 Dow Jones & Company, Inc.- - 10 00 AM EDT 03-28-08

To: Smiling Bob who wrote (113222)	3/28/2008 1:13:53 PM
From: Smiling Bob	Read Replies (1) \| Respond to of 306849

Prepare for another eod failure for longs Financials and retailers should be leading the drop

To: Smiling Bob who wrote (113222)	7/25/2008 2:56:24 PM
From: Smiling Bob	Read Replies (1) \| Respond to of 306849

Ethan Allen earnings down 45% Larry Thomas -- Furniture Today, 7/23/2008 7:36:00 AM Sales decline 8.7% in fiscal fourth quarter DANBURY, Conn. — Manufacturer and retailer Ethan Allen said its sales fell 8.7% in the fourth quarter of its fiscal year, while profits tumbled more than 45%. The company, which operates seven factories and two saw mills in the U.S., said fourth-quarter sales at its 295 retail locations were 5.9% below last year’s fourth quarter, while same-store sales in the quarter ended June 30 were off 11.1%. Farooq Kathwari, chairman and CEO, said he was pleased with the company’s performance, given the difficult economic conditions. “In these challenging times, it makes sense to be prepared for a further softening of the economy and also be ready for the next upturn,” he said. “We expect to continue to do relatively well.” Net delivered sales for the quarter totaled $235.9 million, compared with $258.5 million in the comparable period last year. Net income was $11.1 million or 39 cents per share, compared with $20.5 million or 66 cents per share in last year’s fourth fiscal quarter. The most recent quarter included one-time restructuring and impairment charges of $2.8 million. For the fiscal year ended June 30, sales were down 2.5% to $980 million. Net income for the year totaled $58.1 million or $1.98 per share. That was 16.1% below the previous fiscal year, when the company earned $69.2 million or $2.19 per share. The most recent fiscal year included one-time charges of $6.8 million. Same-store sales were 3.2% below the previous fiscal year.