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To: Giordano Bruno who wrote (364137)	3/31/2008 8:17:51 PM
From: ldo79	Respond to of 436258

the stench continues.....government oversight is the ultimate oxymoron.....fucking clowns......... IBM temporarily barred from government business By John Letzing, MarketWatch Last update: 7:51 p.m. EDT March 31, 2008 SAN FRANCISCO (MarketWatch) -- International Business Machines Corp. has been temporarily banned from new business with the federal government and is being investigated by the U.S. Attorney's Office for the Eastern District of Virginia over a contract awarded by the Environmental Protection Agency, the company said Monday. more at tinyurl.com

To: Giordano Bruno who wrote (364137)	3/31/2008 8:24:09 PM
From: Secret_Agent_Man	Read Replies (1) \| Respond to of 436258

Idiots [GM DAL UA VLO]?, where do they get these Fund LOSERS?

To: Giordano Bruno who wrote (364137)	3/31/2008 8:31:40 PM
From: ldo79	Read Replies (1) \| Respond to of 436258

don't get in front of this one unless you want to smell the glove.............. UBS set for further writedowns By Haig Simonian in Zurich and Chris Hughes in London March 31 2008 22:01 UBS is poised to reveal further writedowns of up to $18bn and seek a capital increase of about SFr13bn ($13.1bn) only weeks after shareholders approved a similar-sized injection from outside investors. Switzerland’s largest bank, which wrote off $18bn last year as it became the most serious European casualty of the US subprime mortgage crisis, has suffered from further falls in the value of mortgage and other credit securities during the first quarter, especially in March. Details of the latest writedowns and capital-raising are expected to be released alongside the agenda for the bank’s annual meeting on April 23, which is to be published on Tuesday or on Wednesday. The revelations will compound the pressure on the bank’s chairman and former chief executive, Marcel Ospel. He has resisted calls to resign, arguing that he needs to stay in place to steer UBS out of the crisis. The annual meeting schedule includes a motion from a Swiss pension fund calling on UBS to raise SFr10bn via a rights issue. UBS is expected to recommend that shareholders reject it and propose a broader resolution giving maximum flexibility to raise new funds, probably via a traditional rights issue and further cash from strategic investors. UBS officials declined to comment on the content of the letter to shareholders with the agenda. In the US, meanwhile, Lehman Brothers said on Monday it would sell at least $3bn of convertible preferred shares to US institutional investors to help bolster its balance sheet and dispel persistent rumours that it could face liquidity problems similar to those that sank Bear Stearns. In February, UBS shareholders voted at an emergency meeting for a capital increase involving an SFr11bn injection from the government of Singapore and SFr2bn from another investor, believed to be Saudi Arabian. The latest writedowns are thought to be about $15bn to $18bn. Analysts had forecast that they could be as high as $25bn, within expectations ranging from $11bn to $26bn. UBS shares have fallen heavily in anticipation of this week’s announcement but have recovered slightly from last month’s nadir. The shares closed down 0.41 per cent at SFr28.86 after falling as low as SFr27.60. Analysts at Merrill Lynch said on Monday they expected the bank to announce a first-quarter loss of SFr8.2bn following writedowns of $11bn. They encouraged UBS to be more aggressive in marking down its asset portfolio. “The market is sick of the ‘death by a thousand cuts’ approach UBS has taken to marking down its legacy assets,” they wrote. “We would welcome a healthy $21bn writedown announcement from UBS. Further, at that level we think UBS would be able to sell some of its legacy assets.”