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  • Maybe the dumbest deal ever

    Posted Mar 25 2008, 03:58 PM by Charley Blaine Rating:

    Al Copeland died on Sunday. You might not know the name. In Louisiana and certainly around New Orleans, he was about as well known as anybody both for the chicken you can get at Popeyes Famous Fried Chicken, the chain he started, and for his lavish, complicated and exuberant lifestyle.

    He liked getting married. But all four of his marriages ended in divorce -- often acrimoniously. He liked Christmas. His house along Lake Pontchartrain in Kenner, La., was so lit up with lights at the holidays that airline pilots would use it to line up their approaches to the airport.

    He liked fast cars and fast boats. He carried on a fun feud over the decor of one of his restaurants with no less than Anne Rice, the author of "Interview with the Vampire."   Read More...

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  • Poor, Unfortunate Bank of America

    Posted Oct 19 2007, 08:08 AM by Matt Koppenheffer Rating:

    Shareholders contemplating Bank of America's third-quarter earnings are likely reacting with one word: "yuck."

    The investment banking division of the bank -- which includes capital markets, advisory services, business lending, and treasury services -- was absolutely miserable. Net revenue for the segment was down 44% over the prior year, and the segment's net income, which accounted for more than a quarter of Bank of America's total net income in its third quarter of last year, fell an astonishing 93% to $100 million.

    Pretty much everything that could go wrong did go wrong in that segment. Most notable of all were the capital markets and advisory services, which managed to produce a negative $184 million in revenue. These guys might even make Bear Stearns look good. And what did Bank of America have to say for itself?

    "Unprecedented market disruptions impacted trading results."   Read More...

    Discuss ( 51 comments) 14,705 Views Digg this | Email this | Link to this