User name:
Password:
Register now |  Forgot your password?  
Tuesday, January 6th, 2009
articles.php?which=ClosuresShake-UpsandDeadDeals
Closures, Shake-Ups, and Dead Deals

-Exxon Mobil announced today that it's getting the hell out of dodge and the retail gas business here in the US. It plans to sell its remaining 2,220 stations throughout the US, and says that the decision is a result of narrowing profit margins because of high crude prices. Shocker!

-The death knell finally sounded this week for the potential Microsoft-Yahoo deal, with the announcement on Thursday that talks were officially done. No, really - this time it's o-v-e-r. Seriously. Yahoo, of course, then did the mature thing by immediately making a deal with Microsoft's top rival, Google. Take that Ballmer!

-After $3 billion in total losses, Lehman Brothers shook up upper management this week, replacing COO Joseph Gregory and demoting finance chief Eric Callan. While the ouster of the two execs was intended to placate investors, it's unclear whether that will be enough, given a four day stock plunge that dropped Lehman's market value by a whopping $4.5 billion.

Happy Friday!

Lehman

You must be registered
and signed in to leave comments.

Have the first word.