Bear Stearns

Senator Menendez: Economy Still Needs Strong Housing Response

By newsdesk - Posted on March 19th, 2008

Wall Street bailout, interest rate cut only pieces of the puzzle

March 18, 2008 -- Newark, NJ – U. S. Senator Robert Menendez (D-NJ), a member of the Senate Banking Committee, issued the following statement in the wake of the Federal Reserve interest rate cut and the recent purchase of Bear Stearns Co.: » read more »

Bear Stearns Bailout Leaves Underlying Instabilities Unaddressed By Fed

By newsdesk - Posted on March 18th, 2008

March 17, 2008 -- Responding to the Federal Reserve’s emergency action on the sale of Bear Stearns, John Irons, Research and Policy Director of the Economic Policy Institute, issued this statement:

“Emergency actions by the Federal Reserve over the weekend to back and coordinate the fire-sale of the investment bank Bear Stearns were necessary to ensure the stability of the financial market, but underlying instabilities remain unaddressed. » read more »

Bear Stearns Sold, Fed Cuts Rates, Asian Stocks Sharply Lower

By newsdesk - Posted on March 17th, 2008

17 March 2008 -- Asian stocks opened sharply lower and the dollar fell Monday morning despite steps taken by the U.S. Central Bank to avert a credit crisis that threatens to plunge the U.S. economy into recession.

Late Sunday, the Federal Reserve cut its lending rate to banks, about the same time U.S. banking giant JPMorgan Chase agreed to buy cash-strapped rival Bear Stearns. » read more »

JPMorgan Chase To Acquire Bear Stearns For $2 a Share

By newsdesk - Posted on March 17th, 2008

New York, March 16, 2008 -- JPMorgan Chase & Co. (NYSE: JPM) announced it is acquiring The Bear Stearns Companies Inc. (NYSE: BSC). The Boards of Directors of both companies have unanimously approved the transaction.

The transaction will be a stock-for-stock exchange. JPMorgan Chase will exchange 0.05473 shares of JPMorgan Chase common stock per one share of Bear Stearns stock. Based on the closing price of March 15, 2008, the transaction would have a value of approximately $2 per share. » read more »

Time Warner Cable's Senior Executive Vice President, CFO Robert Marcus to Participate in the Bear Stearns' Media Conference

By admin - Posted on March 11th, 2008

NEW YORK, March 10, 2008 - Time Warner Cable Inc. (NYSE:TWC) today announced that Senior Executive Vice President & CFO Robert Marcus will participate in the Bear Stearns' Media Conference on Wednesday, March 12, 2008 in Palm Beach, FL.

Mr. Marcus's remarks are expected to begin at approximately 10:00 am ET. An audio Webcast will be available online at imewarnercable.com/investors. . » read more »

Viacom, CBS Executive Chairman Sumner Redstone to Speak at the Bear Stearns 21st Annual Media Conference

By admin - Posted on March 6th, 2008

NEW YORK, March 5, 2008 -- Sumner Redstone, Executive Chairman of Viacom Inc. (NYSE: VIA and VIA.B) and CBS Corporation (NYSE: CBS and CBS.A), will speak at the Bear Stearns 21st Annual Media Conference in Palm Beach, Florida. Mr. Redstone's question-and-answer session will take place on Wednesday, March 12th beginning at approximately 8:00 AM (ET). » read more »