Master-worthy articles for 10/25/2007
Posted October 25th, 2007 by theStockMasters...
Pink Slips on Wall Street: The Latest TallyWashington Mutual, the largest U.S. savings and loan, is laying off 1,000 employees as it copes with slumping housing demand.
Countrywide Financial, the largest U.S. mortgage lender, plans to cut 10,000 to 12,000 jobs, or up to 20 percent of its work force. It said on Oct. 16 that it expected a $125 million to $150 million pretax restructuring charge from the move.
Bank of America, the No. 2 U.S. bank, said it was cutting 3,000 jobs, a majority of them in corporate and investment banking, and the rest elsewhere. The cuts amount to 1.5 percent of the bank's 198,000-person work force.
Motorola (NYSE:MOT), the largest U.S. maker of mobile phones, posted its first profit in three quarters and gave a forecast that surpassed analysts' estimates after eliminating more than 5,000 jobs and unveiling a new version of the Razr phone.
The 
earnings surprise helped Motorola rally the most in nine months in New York trading. For Master Picks subscribers, you're welcome, for the recommendation and the 9% ride since July (Our asking price is only $45 for a 12 month subscription - click here to learn more)
Full Story here - Motorola Has First Profit in Three Quarters on Cuts (Update6)
The Greed of Facebook
New York Times - 
By Saul Hansell.
A week after I wrote that the current Internet bubble is different from the late 1990s because it is driven by defensive fear rather than boundless greed, the Facebook deal with Microsoft yesterday shows that there are still some who think they can make untold billions by changing the world. Facebook now has a $15 billion dollar valuation, not bad for a 24 year-old CEO.
Berkshire Hathaway vs Sears Holdings: The Early Years
By Todd Sullivan - The comparisons have been rampant about Warren Buffett's Berkshire Hathaway (BRK.A) and Eddie Lampert's Sears Holdings (SHLD). Let's look and rather than comparing the 42 year old Berkshire with the 2 year old Sears in both their current states, let's look at Berkshire's beginnings and take an apples to apples approach when making the comparison.
Other related articles on the subject:
BusinessWeek - The Next Warren Buffett?
SA - Sears Holdings: What's Lampert Thinking?
DealBreaker.com - Sears Holdings: Is Eddie Lampert The New Mr. Met?
Pink Slips on Wall Street: The Latest Tally
And coming soon...
Welcome to WallStNewsletters.com
- Login or register to post comments
Email this page
Please Review the StockMasters Disclaimer and remember that information provided by our site is at the investor's sole financial risk. Please Review for more Details
