Banking, finance, and taxes
Will Warren Buffett Take Control Of Bear Stearns
Published:
Last Updated:
The New York Times is reporting that Warren Buffett may be one of the people looking at taking a large interest in Bear Stearns (BSC), perhaps 20%. Bank of America (BAC) and Wachovia (WB) may also be kicking the tires.
For those who think it is far-fetched, recall that Buffett took control of Salomon Brothers in 1991, and pushed out "King of Wall Street" John Gutfreund.
The Times says that the investment may take the a form of convertible stock. A deal would probably be done at the current market value of the shares. No premium.
If the deal works like the Salomon one did, BSC CEO James E. Cayne may need a new job.
But, he probably does not need the money. Here are some related articles for this topic:
Douglas A. McIntyre
Credit card companies are pulling out all the stops, with the issuers are offering insane travel rewards and perks.
We’re talking huge sign-up bonuses, points on every purchase, and benefits like lounge access, travel credits, and free hotel nights. For travelers, these rewards can add up to thousands of dollars in flights, upgrades, and luxury experiences every year.
It’s like getting paid to travel — and it’s available to qualified borrowers who know where to look.
We’ve rounded up some of the best travel credit cards on the market. Click here to see the list. Don’t miss these offers — they won’t be this good forever.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.