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The Faber Report


  Tuesday, 14 Jun 2011 | 9:00 AM ET

Avis Ditches Dollar Thrifty, Buys Avis Europe

Posted By: David Faber
It’s over. The on-again, off-again battle between Hertz and Avis to buy Dollar Thrifty has effectively ended, given Avis' decision to spend a billion dollars in cash to buy Avis Europe. »Read more
  Thursday, 9 Jun 2011 | 3:00 PM ET

Fairholme's Berkowitz Still Bullish on Bank of America

Posted By: David Faber
Berkowitz’s thesis is straight forward: he, like other large holders (think John Paulson) see a bank generating between $45 and $50 billion a year in pre-tax, pre-provision income and believe those provisions will continue their slow, but steady decline, significantly enhancing the bank’s bottom line. »Read more
  Tuesday, 7 Jun 2011 | 11:23 AM ET

The Containerboard Wars

Posted By: David Faber
Forgive me for having flashbacks to the arduous and unsuccessful battle Air Products and Chemicals waged to acquire Airgas, but International Paper's unsolicited bid for Temple-Inland is bringing back some bad memories, and not just because it’s in an industry that does little to excite the imagination. »Read more
  Thursday, 2 Jun 2011 | 11:59 AM ET

Avis Gets Manageable Solution for Dollar Thrifty Bid

Posted By: David Faber
After months of negotiations and delay, Avis Budget Group has finally received specifics from the Federal Trade Commission about what it must do in order to move ahead with any purchase of Dollar Thrifty Automotive Group. »Read more
  Wednesday, 1 Jun 2011 | 11:23 AM ET

Sealed Air Cheap Deal Rests on 'Cheap' Money

Posted By: David Faber
It’s a big move for Sealed Air, the the food packaging manufacturer, and a big win for Clayton, Dubilier & Rice. Sealed Air’s decision to diversify by buying Diversey is being pitched as a cheap buy of a good company. »Read more
  Wednesday, 25 May 2011 | 2:26 PM ET

Undistributed Foreign Earnings on the Rise

Posted By: David Faber
A report Tuesday from accounting analysts at JP Morgan seems to put a reliable number on the amount of cash that U.S. corporations hold in their foreign subsidiaries, and it’s a doozy. »Read more
  Friday, 20 May 2011 | 10:25 AM ET

Dissecting the Liberty, Founder Bid for Barnes and Noble

Posted By: David Faber
The $17 a share bid from Liberty Media for Barnes and Noble may not be enough for a market that has sent shares of the bookseller well above it, but it is the only bid that’s emerged for the company since it put itself up for sale nine months ago and perhaps most importantly it includes the participation of Barnes and Noble’s founder and chairman Len Riggio. »Read more
  Tuesday, 17 May 2011 | 1:57 PM ET

Value Act’s Cephalon Purchase and Disclosure Issue

Posted By: David Faber
In Value Act’s latest 13F filing it discloses a 1.9 million share stake in Cephalon. It’s a stake it did not own in the fourth quarter of last year. »Read more
  Monday, 16 May 2011 | 11:50 AM ET

Anti-Trust Impediment Forces Nasdaq to Exit NYSE Bid

Posted By: David Faber
“It was black and white. There was nothing we could do to get the deal done.” Those words from an architect of Nasdaq OMX Group and IntercontinentalExchange's unsolicited bid for the NYSE Euronext after a meeting between the management of those companies and the DOJ’s anti-trust division confirmed what many had believed on the day the bid was announced (April Fool’s Day). »Read more
  Friday, 13 May 2011 | 2:47 PM ET

Greece 'Unable to Avoid a Restructuring': Fixed Income CIO

Posted By: Gennine Kelly
Greece will be "unable to avoid a restructuring," Stephen Walsh, chief investment officer at West Asset Management, told CNBC Friday. Walsh manages $456 billion in global fixed income assets. »Read more