Ireland to Accept Bailout? (Business Week) Prime Minister Brian Cowen may be signaling a willingness to begin negotiations in earnest over the terms of an Irish bailout by the European Central Bank. Then again, he may not. Says Cowen: “There’ll be further discussions there and, I’m sure, there’ll be discussions thereafter as well.” Although the Business Week article does not explicitly make the point, we can perhaps safely assume that Prime Minister Cowen is referring to ongoing negotiations regarding Ireland's budget plans—and not engaging in a playful imitation of Ireland's celebrated 20th century absurdist playwright, Samuel Beckett.
Investors Face Blind Decisions with Tax Policy Still up in the Air(CNBC) CNBC's Jeff Cox helps readers navigate the uncertainties surrounding investment decisions with a tax code that is still a work in progress.
J.P. Morgan to Buy Back Shares? (CNBC) CNBC's John Melloy writes about the possibility of JPM buying back shares, rather than issuing a dividend:"JPMorgan Chase is among the first companies mentioned by analysts and investors when discussing which financial firm will be the first to pay a dividend once regulators give the TARP-stained sector the OK to deploy capital to shareholders once again. But the firm may declare a buyback instead to send a message about how cheap its shares are, according to an analyst fresh off a meeting with CEO Jamie Dimon."
Weakening Dollar Likely no Help to Unemployment (New York Times) When a nation's currency weakens, it typically enjoys an increase in exports. But this isn't a likely scenario for the dollar because, among other reasons, American workers often manufacture goods that are consumed domestically. And when the dollar weakened against the Japanese yen in the 1980's, it did little to help our balance of trade with Japan.
General Motors May Exercise Greenshoe Option and Up Price on IPO (Bloomberg) Due to unexpectedly high demand, GM may exercise its so-called Greenshoe over-allotment option to raise the share price for its upcoming IPO above the current $26 - $29 price range. Former 'car czar' Steve Rattner explains why: "There is definitely a greater level of confidence in the ability of the carmakers to perform…That’s because of the profit numbers."
In End, Gordon Gekko Always Wins (New York Post) From the New York Post: "Academy Award-winner Michael Douglas today scored a huge victory in a Manhattan court after a judge threw out his ex-wife's bid to get half of the millions he is earning from reprising the role of financial villain Gordon Gekko in the sequel to 'Wall Street.'"