<?xml version="1.0" encoding="UTF-8"?>
<rss version="2.0">
   <channel>
      <title>Latest News Current Issue</title>
      <link>http://www.iddmagazine.com/news/index.html</link>
      <description></description>
      <language>en-us</language>
      <copyright>Copyright 2008 Investment Dealers' Digest. All rights Reserved.</copyright>
<managingEditor>editor@iddmagazine.com</managingEditor>
      <webMaster>webmaster@iproduction.com</webMaster>
      <pubDate>Wed, 14 May 2008 20:20:10 EDT</pubDate>
      <lastBuildDate>Wed, 14 May 2008 20:20:10 EDT</lastBuildDate>
      <generator>IPS - www.iproduction.com</generator>

      <item>
         <title><![CDATA[Gordian Acquires Distressed Research Firm]]></title>
         <description><![CDATA[Gordian Group, already a half-owner of distressed research firm Distressed Debt Investor, acquired the remaining 50% stake from investment research firm FridsonVision.]]></description>
         <link>http://www.iddmagazine.com/news/181809-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Mitsubishi UFJ Names European Chief]]></title>
         <description><![CDATA[Mitsubishi UFJ Securities International named Clifford De Souza chief executive of its European banking and brokerage operations.]]></description>
         <link>http://www.iddmagazine.com/news/181790-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Fitch: 80% of Subprime Losses Reported]]></title>
         <description><![CDATA[Banks have disclosed nearly 80% of their total estimated losses from subprime mortgage debt, according to a Fitch Ratings report published on Wednesday.]]></description>
         <link>http://www.iddmagazine.com/news/181791-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[UBS Alters I-Banking, Risk Management Leadership]]></title>
         <description><![CDATA[UBS Wednesday made several management changes within investment banking and reorganized its risk control function group. ]]></description>
         <link>http://www.iddmagazine.com/news/181801-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Freddie Lost $151 Million In First Quarter]]></title>
         <description><![CDATA[US housing agency Freddie Mac Wednesday reported a first-quarter loss of $151 million, or 66 cents a share, compared to a net loss of $133 million, or 35 cents a share, for the quarter ended March 31, 2007.  ]]></description>
         <link>http://www.iddmagazine.com/news/181804-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[RSM EquiCo Launches Restructuring Practice]]></title>
         <description><![CDATA[RSM EquiCo Capital Markets, a Costa Mesa, Calif.-based investment bank, has added a restructuring services practice to advise companies with underperforming assets.]]></description>
         <link>http://www.iddmagazine.com/news/181807-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Five ABN Bankers Land At BarCap]]></title>
         <description><![CDATA[Although its efforts to acquire ABN AMRO last year were unsuccessful, Barclays managed another coup: hiring five investment bankers from the Dutch financial institution.]]></description>
         <link>http://www.iddmagazine.com/news/181753-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Settlement Near in Clear Channel Dispute?]]></title>
         <description><![CDATA[Thomas H. Lee Partners and Bain Capital Partners, and the bank lending group that had committed to finance their $26 billion buyout of Clear Channel Communications, are involved in settlement talks, according to the San Antonio radio station operator.]]></description>
         <link>http://www.iddmagazine.com/news/181754-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Blackstone Unveils Asia-Pacific Fund]]></title>
         <description><![CDATA[The Blackstone Group said Tuesday it is launching Blackstone Altius Advisors, an event-driven strategy fund focused on opportunities in the Asia Pacific Region. ]]></description>
         <link>http://www.iddmagazine.com/news/181757-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Fridson, BNP Unveil New Venture]]></title>
         <description><![CDATA[BNP Paribas' asset management business on Tuesday said it has teamed up with Marty Fridson, the highly regarded corporate debt strategist, to create Fridson Investment Advisors, an investment management business focused on corporate credit.]]></description>
         <link>http://www.iddmagazine.com/news/181762-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Legatum, Omidyar Launch Microfinance Fund]]></title>
         <description><![CDATA[Legatum, a private firm that invests in global capital markets and initiatives that support social development, and Omidyar Network, a philanthropic investment firm, are launching a $40 million co-investment fund, Unitus Equity Fund II.]]></description>
         <link>http://www.iddmagazine.com/news/181772-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Wachovia To Cut 1/3 of Fixed Income]]></title>
         <description><![CDATA[Wachovia chief executive Ken Thompson says the bank plans to cut one-third of its fixed income staff and make a 10% reduction in corporate and investment banking support staff. ]]></description>
         <link>http://www.iddmagazine.com/news/181776-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Earthquake Causes Minimal Finance Disruptions]]></title>
         <description><![CDATA[Monday's devastating earthquake in China did not seriously affect investment banking and other financial services operations in the country.]]></description>
         <link>http://www.iddmagazine.com/news/181777-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Rodman Buys Energy I-Bank COSCO ]]></title>
         <description><![CDATA[Rodman &amp; Renshaw acquired private investment bank COSCO Capital Management, which focuses on oil and gas sectors in the US and Canada, for $10.1 million. ]]></description>
         <link>http://www.iddmagazine.com/news/181686-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Week Starts Well For Mid-Market PE]]></title>
         <description><![CDATA[While new deals by large leveraged buyout firms are few and far between, middle-market private equity investors are busy arranging new deals.]]></description>
         <link>http://www.iddmagazine.com/news/181688-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Pre-Packs Continue Their Resurgence]]></title>
         <description><![CDATA[As the credit-market dislocation chugs on, one corner of the bankruptcy world is getting more attention: pre-packs.]]></description>
         <link>http://www.iddmagazine.com/news/181691-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Cumulus Buyout Terminated]]></title>
         <description><![CDATA[Cumulus Media said Monday that has terminated its $1.3 billion deal to be acquired by an investor group led by Merrill Lynch Global Private Equity.]]></description>
         <link>http://www.iddmagazine.com/news/181692-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Moral Bankruptcy]]></title>
         <description><![CDATA[As the economy slows, investigation of corporate malfeasance becomes a big business.  ]]></description>
         <link>http://www.iddmagazine.com/news/181739-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Infrastructure Investment Speeds Up]]></title>
         <description><![CDATA[The infrastructure investment business shows little signs of slowing as one general partner after another raises a new multi-billion dollar fund, underscoring the promise institutional investors see in infrastructure within the US, Europe and Asia.]]></description>
         <link>http://www.iddmagazine.com/news/181743-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Big Loss For MBIA In 1Q ]]></title>
         <description><![CDATA[US bond insurer MBIA Monday reported a first-quarter loss of $2.4 billion, or $13.03 a share, compared with net income of $198.6 million or $1.46, in the first quarter of 2007.]]></description>
         <link>http://www.iddmagazine.com/news/181745-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Pearlstine Joins Bloomberg]]></title>
         <description><![CDATA[Longtime Wall Street Journal and Time Inc. newshound Norman Pearlstine is leaving The Carlyle Group to fill a newly created position at Bloomberg LP, chief content officer.]]></description>
         <link>http://www.iddmagazine.com/news/181746-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Citi Poised To Unload Half A Trillion In Assets]]></title>
         <description><![CDATA[As Citigroup continues to attempt a recovery from the credit crisis, its embattled leader announced plans Friday to unload $500 billion of legacy assets and a goal of 9% revenue growth over the next few years. ]]></description>
         <link>http://www.iddmagazine.com/news/181589-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Dell Drives Into Luxury Auto Market]]></title>
         <description><![CDATA[MSD Capital, the New York private equity investment firm controlled by Michael Dell and his family, is interested in luxury cars. More specifically, the firm is aiming to back the acquisition and operation of luxury car dealerships across the US through a newly launched venture, MSD Automotive Partners.]]></description>
         <link>http://www.iddmagazine.com/news/181592-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Victoire Hires Former Goldman Vet]]></title>
         <description><![CDATA[Twenty-three-year financial services veteran Matthew Maslow has joined Victoire Financial Capital as president of the global asset management firm. Maslow most recently worked at Goldman Sachs, advising many of the largest hedge funds.]]></description>
         <link>http://www.iddmagazine.com/news/181598-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Hedge Funds Bounce Back In April ]]></title>
         <description><![CDATA[Returns were higher in April for hedge funds than March, with the Greenwich Global Hedge Fund index returning 1.68%, rebounding from a 2.05% loss in March.]]></description>
         <link>http://www.iddmagazine.com/news/181664-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Tropicana Files For Bankruptcy, Seeks $67 Million DIP]]></title>
         <description><![CDATA[Tropicana Entertainment filed for Chapter 11 bankruptcy protection last week in Delaware's bankruptcy court and was looking to borrow $67 million through a debtor in possession loan.]]></description>
         <link>http://www.iddmagazine.com/news/181685-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Ratings Actions]]></title>
         <description><![CDATA[The latest ratings upgrades, downgrades and outlooks from S&amp;P and Moody's.]]></description>
         <link>http://www.iddmagazine.com/news/181687-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Fremont Mulls Chapter 11 Filing ]]></title>
         <description><![CDATA[Fremont General said Friday it may file for Chapter 11, a day after disclosing its intent to sell the rest of its mortgage services operations to Litton Loan Servicing, an affiliate of Goldman Sachs.]]></description>
         <link>http://www.iddmagazine.com/news/181701-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Citi Relocates Top Banker To Dubai]]></title>
         <description><![CDATA[Citigroup is relocating Alberto Verme, global co-head of investment banking, from London to Dubai in order to strengthen its presence in the Middle East.]]></description>
         <link>http://www.iddmagazine.com/news/181575-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Moody's President Announces Retirement]]></title>
         <description><![CDATA[Brian Clarkson will retire as president and chief operating officer of Moody's Investors Service in late July after 17 years with the rating agency. He will be replaced as COO by Michel Madelain, who currently oversees the global fundamental ratings business. ]]></description>
         <link>http://www.iddmagazine.com/news/181578-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[BarCap Grabs Lehman Retail I-Banker]]></title>
         <description><![CDATA[Barclays Capital has hired Dominic Rispoli as managing director in the investment banking division, luring him from Lehman Brothers. ]]></description>
         <link>http://www.iddmagazine.com/news/181580-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Mortgage Rates Stay Steady]]></title>
         <description><![CDATA[The 30-year fixed mortgage rate in Freddie Mac's weekly survey slipped just one basis point to 6.05% this week, while the 15-year fixed rate rose one basis point to 5.60%.]]></description>
         <link>http://www.iddmagazine.com/news/181583-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Personnel File]]></title>
         <description><![CDATA[Comings and goings from the world of bankruptcy and restructuring.]]></description>
         <link>http://www.iddmagazine.com/news/181674-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Japanese Bank Streamlines Americas Businesses]]></title>
         <description><![CDATA[Bank of Tokyo-Mitsubishi UFJ is streamlining its US corporate banking group and Americas investment banking division, according to an internal memo obtained by IDD. To that end, the Japanese firm appointed Randall Chafetz to oversee both businesses.]]></description>
         <link>http://www.iddmagazine.com/news/181555-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Blue-Chip Banker Joins Sterling Stamos]]></title>
         <description><![CDATA[Sterling Stamos Capital Management, a firm with more than $6 billion in assets under management, has appointed veteran investment banker Robert Goodman to serve as global head of private equity and real assets. Goodman had been vice chairman and a member of the global operating committee at Deutsche Asset Management since January 2006.]]></description>
         <link>http://www.iddmagazine.com/news/181561-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Bear Holders Concede, Sort Of]]></title>
         <description><![CDATA[They might not be able to stop the deal, but they do want more money.]]></description>
         <link>http://www.iddmagazine.com/news/181562-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[More Bulge-Bracket Layoffs Coming]]></title>
         <description><![CDATA[Morgan Stanley is cutting 5% of its workforce, while Goldman Sachs is rumored to be laying off leveraged-finance professionals. ]]></description>
         <link>http://www.iddmagazine.com/news/181563-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[FTI's 1Q Revenue Jumps 35%]]></title>
         <description><![CDATA[FTI Consulting said Wednesday its first-quarter earnings rose 63.9%, to 59 cents a share from 36 cents in the first quarter of 2007. The company's first-quarter revenues increased 34.9% to a record $307.1 million.]]></description>
         <link>http://www.iddmagazine.com/news/181564-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Fitch Downgrades Chrysler]]></title>
         <description><![CDATA[Chrysler was downgraded by Fitch Ratings on Wednesday, the second Cerberus Capital Management portfolio company to be downgraded in a week.]]></description>
         <link>http://www.iddmagazine.com/news/181565-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Jefferies Snags Bear Stearns Banker]]></title>
         <description><![CDATA[David Baxt, most recently a senior managing director and co-head of aerospace and defense investment banking at Bear Stearns, will join Jefferies &amp; Co. as head of its aerospace and defense banking business, Jefferies Quarterdeck, in the third quarter.]]></description>
         <link>http://www.iddmagazine.com/news/181527-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Silver Lake Closes Mid-Market Tech Vehicle]]></title>
         <description><![CDATA[Private equity firm Silver Lake said Tuesday it has closed on $1.1 billion for its first dedicated middle-market technology fund.]]></description>
         <link>http://www.iddmagazine.com/news/181528-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Fannie Posts Big 1Q Loss; To Raise More Cash]]></title>
         <description><![CDATA[US housing agency Fannie Mae on Tuesday said it lost $2.2 billion in the first quarter, or $2.57 a share, and the government sponsored enterprise announced plans to raise $6 billion through the sale of common stock, convertible and non-convertible preferred stock.]]></description>
         <link>http://www.iddmagazine.com/news/181534-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[BarCap Names Glascott Head Of Americas I-Banking ]]></title>
         <description><![CDATA[Barclays Capital named Jim Glascott as its new head of debt capital markets and investment banking for the Americas, a company spokesman confirmed with IDD Tuesday.]]></description>
         <link>http://www.iddmagazine.com/news/181536-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[ABI Appoints I-Banking Committee Co-Chair]]></title>
         <description><![CDATA[Lorie Beers, a managing director in KPMG Corporate Finance's special situations advisory group, has been appointed co-chair of the American Bankruptcy Institute's investment banking committee. ]]></description>
         <link>http://www.iddmagazine.com/news/181539-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Big 1Q Loss At UBS; Bank To Cut 5,500 Jobs]]></title>
         <description><![CDATA[UBS on Tuesday posted an 11.5 billion Swiss franc ($10.95 billion) first-quarter loss related to its mortgage holdings, and also said it will cut 5,500 employees.]]></description>
         <link>http://www.iddmagazine.com/news/181541-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Cash Is Indeed King For Hedge Fund Crowd]]></title>
         <description><![CDATA[As global market turmoil continues, investors are holding more cash and placing more emphasis on risk management when picking a hedge fund manager, a Deutsche Bank Alternative Investment survey found.  ]]></description>
         <link>http://www.iddmagazine.com/news/181542-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[WCAS Appoints Two Senior Operating Executives]]></title>
         <description><![CDATA[Welsh, Carson, Anderson &amp; Stowe (WCAS) said Tuesday it has appointed F. Stephen Larned and Daniel Lieber as senior operating executives. They will join the New York private equity firm's 13-member WCAS Resources Group, which assists WCAS with sourcing transactions, due diligence and portfolio company oversight and improvement initiatives.]]></description>
         <link>http://www.iddmagazine.com/news/181544-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Lenrock Lands Former BofA Healthcare Analyst]]></title>
         <description><![CDATA[Joseph France, a 25-year veteran healthcare analyst, joined New York-based hedge fund Lenrock Capital Management this week, sources say. ]]></description>
         <link>http://www.iddmagazine.com/news/181552-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Newspaper Brings In Blackstone For Help]]></title>
         <description><![CDATA[While denying reports that it has missed debt payments, the Minneapolis Star Tribune has hired The Blackstone Group to help it evaluate its finances.]]></description>
         <link>http://www.iddmagazine.com/news/181501-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Next Stop For Lionel: Life After Bankruptcy]]></title>
         <description><![CDATA[Lionel, the renowned toy train company, emerged from bankruptcy last week after a nearly three-and-a-half-year stint under court supervision.]]></description>
         <link>http://www.iddmagazine.com/news/181505-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Paul Closes Another Secondary Fund]]></title>
         <description><![CDATA[Paul Capital, a New York firm that invests in the secondary private equity market, has closed its ninth secondary fund at $1.6 billion, exceeding its target by $100 million.]]></description>
         <link>http://www.iddmagazine.com/news/181509-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Microsoft Abandons Yahoo! Chase]]></title>
         <description><![CDATA[Microsoft backed off its months-long drive to merge with Yahoo!, rather than continue to up its bid or go hostile to execute a deal.]]></description>
         <link>http://www.iddmagazine.com/news/181516-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Merrill Taps Another Ex-Goldman Exec]]></title>
         <description><![CDATA[Only a week after hiring Goldman Sachs veteran Thomas Montag as head of global sales and trading, Merrill Lynch announced it appointed Goldman alum Peter Kraus as an executive vice president in charge of corporate acquisitions, global growth, and business strategy and investments. ]]></description>
         <link>http://www.iddmagazine.com/news/181526-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Record Number Of Firms At Risk Of Downgrade: S&amp;P]]></title>
         <description><![CDATA[Standard &amp; Poor's said last week that the number of corporate entities at risk of downgrade hit a new record last month, and most of the troubled businesses included mortgage companies, forest products and building materials businesses.]]></description>
         <link>http://www.iddmagazine.com/news/181510-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Central Banks Chipping In Again ]]></title>
         <description><![CDATA[The US Federal Reserve said on Friday that it and the European Central Bank and the Swiss National Bank further expanded their liquidity measures.]]></description>
         <link>http://www.iddmagazine.com/news/181401-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[CitiStreet Finds A Buyer]]></title>
         <description><![CDATA[Amsterdam's ING has agreed to acquire Citigroup and State Street's defined contribution joint venture for $900 million in a cash-only deal.]]></description>
         <link>http://www.iddmagazine.com/news/181402-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[S&amp;P Warns Of Possible ResCap Bankruptcy]]></title>
         <description><![CDATA[Standard &amp; Poor's Friday lowered selected ratings of GMAC's Residential Capital LLC, including the long-term corporate credit rating, which was cut to 'CC' from 'CCC+'. The rating agency also warned that ResCap may file for bankruptcy if the company's exchange offer for unsecured bonds fails. ]]></description>
         <link>http://www.iddmagazine.com/news/181429-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Lightyear Backs New Mortgage Insurer]]></title>
         <description><![CDATA[Lightyear Capital, a private equity firm that invests in the financial service industry, is planning to back a new monoline mortgage insurance company through a $400 million transaction with Triad Guaranty.]]></description>
         <link>http://www.iddmagazine.com/news/181438-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[IDD Exclusive: Morgan Stanley's Barnett Moving To BofA]]></title>
         <description><![CDATA[After a 20-year career at Morgan Stanley, most recently as managing director and head of the firm's global insurance business, Phil Barnett is joining Bank of America, IDD has learned.]]></description>
         <link>http://www.iddmagazine.com/news/181479-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[A Toast To Vinum Capital]]></title>
         <description><![CDATA[The San Anselmo, Calif.-based private equity firm is aiming to raise $250 million for its Vinum Capital Partners I LP fund. More specifically, the fund's managers aim to acquire mid-sized premium and super-premium wine makers, generating 20,000 to 150,000 cases of wine each year.]]></description>
         <link>http://www.iddmagazine.com/news/181480-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[S&amp;P Cuts Countrywide's Credit Rating]]></title>
         <description><![CDATA[Standard &amp; Poor's on Friday cut its ratings on Countrywide Financial Corp. and Countrywide Home Loans Inc. to 'BB+/B' from 'BBB+/A-2.' The agency also lowered its rating on Countrywide Bank to 'BBB/A-3' from 'A-/A-2.']]></description>
         <link>http://www.iddmagazine.com/news/181481-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Linens 'n Things, 'n Bankruptcy]]></title>
         <description><![CDATA[Linens 'n Things filed for bankruptcy on Friday, May 2, in Delaware's bankruptcy court, hammerd by a slowdown in consumer spending]]></description>
         <link>http://www.iddmagazine.com/news/181502-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Pandit Hires Former Morgan Stanley Colleague]]></title>
         <description><![CDATA[Citigroup has hired Derek Bandeen as head of global equities trading. Bandeen left Morgan Stanley, where Citi CEO Vikram Pandit used to work, in March 2007 after 22 years.]]></description>
         <link>http://www.iddmagazine.com/news/181361-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Merrill's Top Fixed-Income Guns Take Flight]]></title>
         <description><![CDATA[Sources familiar with the company say that Stewart Cutler, David Sobotka and Scott Soltas have all opted to take generous packages and will leave the investment bank by the beginning of June, said sources familiar with the situation.]]></description>
         <link>http://www.iddmagazine.com/news/181366-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Moody's Appoints Global Surveillance Chief]]></title>
         <description><![CDATA[Moody's Investors Service announced the appointment of Jonathan Polansky, currently the group managing director of the rating agency's asset finance group, to the newly created role of structured finance global surveillance coordinator. In his new role, Polanksy will work closely with the rating agency's surveillance and line of business managers to monitor outstanding Moody's-rated structured transactions.]]></description>
         <link>http://www.iddmagazine.com/news/181374-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[S&amp;P Stops Rating Home Equity Loan Bonds]]></title>
         <description><![CDATA[Standard &amp; Poor's said on Thursday it will not rate any more new bonds pooling home equity loans to prime and subprime borrowers  because losses on some existing bond deals have been so great the agency cannot figure out how to rate the new deals.]]></description>
         <link>http://www.iddmagazine.com/news/181375-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Restructuring Pros Back McCain, Survey Finds]]></title>
         <description><![CDATA[A survey conducted by turnaround firm AlixPartners finds that 78% of restructuring professionals feel Sen. John McCain would do more to facilitate the restructuring of distressed companies as President than either of the two Democratic frontrunners. ]]></description>
         <link>http://www.iddmagazine.com/news/181486-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Ratings Actions &amp; Outlooks]]></title>
         <description><![CDATA[The latest ratings and outlooks from Moody's and S&amp;P.]]></description>
         <link>http://www.iddmagazine.com/news/181507-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[UBS FIG Banker Joins Goldman]]></title>
         <description><![CDATA[Matt Malloy has left UBS, where he was a FIG managing director, to take a job with Goldman Sachs Asset Management, IDD has learned. He helped launch the Swiss bank's insurance investment banking practice and oversaw the FIG markets and technology business.]]></description>
         <link>http://www.iddmagazine.com/news/181334-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Citi Comes Back For More]]></title>
         <description><![CDATA[Citigroup returned to the markets for more cash Wednesday morning, raising $4.5 billion through a common stock offering priced at $25.27 a share.]]></description>
         <link>http://www.iddmagazine.com/news/181341-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Catterton Closes New Fund With $300 Million]]></title>
         <description><![CDATA[Catterton Partners has closed its latest growth private equity fund with $300 million in commitments, the Greenwich, Conn.-based private equity firm said Wednesday.]]></description>
         <link>http://www.iddmagazine.com/news/181342-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Babson Hires GE Pro]]></title>
         <description><![CDATA[Babson Capital Management, a Boston- and Springfield, Mass.-based investment management firm, said Wednesday that it has hired Benjamin Silver to serve as a managing director in its mezzanine private equity group.]]></description>
         <link>http://www.iddmagazine.com/news/181354-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[The Fed Might Be Done For Awhile]]></title>
         <description><![CDATA[Citing the substantial rate slashing it's already done, the Federal Reserve Wednesday signaled its latest cut to the fed funds rate might be its last for some time. ]]></description>
         <link>http://www.iddmagazine.com/news/181356-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Personnel File]]></title>
         <description><![CDATA[Comings and goings from the world of restructuring and bankruptcy.]]></description>
         <link>http://www.iddmagazine.com/news/181485-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Home Interiors Files For Protection]]></title>
         <description><![CDATA[Home Interiors &amp; Gifts filed for bankruptcy protection April 29 in the US Bankruptcy Court in the Northern District of Texas.]]></description>
         <link>http://www.iddmagazine.com/news/181508-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Deutsche Posts €141 Million Loss In 1Q]]></title>
         <description><![CDATA[German banking giant Deutsche Bank on Tuesday said it posted a first-quarter loss of €141 million, or 27 cents a share, amid €2.7 billion worth of write-downs related to leverage loans, loan commitments, commercial real estate and residential mortgage bonds backed by alt-A home loans.]]></description>
         <link>http://www.iddmagazine.com/news/181310-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Siemens Purchase Marks New Era]]></title>
         <description><![CDATA[When Siemens VAI Metals Technologies of Austria acquired steel equipment maker Morgan Construction Co. for just over $160 million this month, the transaction represented more than just the sale of a middle-market US company to a foreign strategic acquirer amidst a depressed M&amp;A market.]]></description>
         <link>http://www.iddmagazine.com/news/181331-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Goldman Loses Mortgage Chief]]></title>
         <description><![CDATA[Dan Sparks, the head of Goldman Sachs' mortgage business, is leaving the firm. He will be replaced by Thomas Cornacchia, who runs credit sales, and Justin Gmelich, who manages US credit trading.]]></description>
         <link>http://www.iddmagazine.com/news/181246-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Eos Is Latest Airline Headed To Bankruptcy Court]]></title>
         <description><![CDATA[Rising oil prices, a global economic slowdown and tough credit conditions have claimed another victim in the airline space.]]></description>
         <link>http://www.iddmagazine.com/news/181248-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[American Airlines' Other Issue]]></title>
         <description><![CDATA[The latest sign of trouble for the airline industry was the Saturday Chapter 11 filing of Eos, the most recent in a string of airline bankruptcies over the past several weeks. For now, the airlines seeking court protection have essentially been second-tier carriers, but as the Fort Worth Star-Telegram reports Monday, there could be a much larger filing on the way, this time from American Airlines.]]></description>
         <link>http://www.iddmagazine.com/news/181250-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Silver Creek To Expand International Business]]></title>
         <description><![CDATA[Silver Creek Capital hired Gideon Nieuwoudt as managing director to expand its non-US business. He will join the fund of hedge funds in July from Union Bancaire Privée Alternative Investments.]]></description>
         <link>http://www.iddmagazine.com/news/181261-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Summit Raises First European Fund]]></title>
         <description><![CDATA[Summit Partners said Monday it has closed a new European private equity fund with €1 billion of commitments, marking the Boston firm's first exclusively-dedicated European investment vehicle, and wrapped up fundraising for its latest mezzanine debt fund at $825 million.]]></description>
         <link>http://www.iddmagazine.com/news/181279-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Merrill Taps Another Goldman Alum]]></title>
         <description><![CDATA[Merrill Lynch hired Goldman Sachs veteran Thomas Montag as head of global sales and trading. Montag will report to John Thain, himself a former Goldman executive.]]></description>
         <link>http://www.iddmagazine.com/news/181289-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Babson Appoints New Chief Info Officer]]></title>
         <description><![CDATA[Babson Capital Management, an investment management firm which recently acquired Murray Capital Management's distressed debt management business in New York, said Monday it has named technology industry veteran Praveen Kumar to serve as its new chief information officer.]]></description>
         <link>http://www.iddmagazine.com/news/181291-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Galleon Set To Build Up Internationally ]]></title>
         <description><![CDATA[Hedge fund Galleon Group is expanding internationally from its New York base, setting up a Singapore operation to manage a $1.1 billion Asian long/short equity fund, according to Reuters.]]></description>
         <link>http://www.iddmagazine.com/news/181121-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Record Week For Corporate Debt Issuance]]></title>
         <description><![CDATA[Investment grade corporate debt issuance set a record this week, with more than $38 billion in proceeds. Financial names were big issuers. ]]></description>
         <link>http://www.iddmagazine.com/news/181124-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Merrill Doesn't Want TPG's Capital: Sources]]></title>
         <description><![CDATA[A media report claiming Merrill Lynch and TPG are in talks regarding a possible capital infusion is 'exaggerated,' a source familiar with the situation told IDD. A second source relayed to IDD, 'Merrill said they didn't want any money.']]></description>
         <link>http://www.iddmagazine.com/news/181125-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Charming Shoppes Mulls Catalog Sale]]></title>
         <description><![CDATA[Charming Shoppes, the women's apparel retailer, is exploring the possibility of selling its misses catalog titles. The company's board has retained Banc of America Securities and Lehman Brothers to manage the strategic alternatives process announced by the Bensalem, Pa.-based retail and catalog company on Friday.]]></description>
         <link>http://www.iddmagazine.com/news/181179-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Ratings Actions &amp; Outlooks]]></title>
         <description><![CDATA[The latest in downgrades and outlooks from Moody's and S&amp;P.]]></description>
         <link>http://www.iddmagazine.com/news/181257-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Duff &amp; Phelps Opens Paris Restructuring Office]]></title>
         <description><![CDATA[The advisory firm, with an eye on the worsening credit environment, continues to build out its restructuring capabilities.]]></description>
         <link>http://www.iddmagazine.com/news/181099-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Wendy's Sells In Down Market]]></title>
         <description><![CDATA[Wendy's International, the fast-food chain founded by the late Dave Thomas, has agreed to a buyout by Triarc Cos. after a year of rumors and considering offers. Triarc will merge Wendy's with its Arby's business.]]></description>
         <link>http://www.iddmagazine.com/news/181103-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Buyers Target Utilities]]></title>
         <description><![CDATA[Utility deals aren't easy, but buyers are increasingly looking past the red tape to pick out targets in the space.]]></description>
         <link>http://www.iddmagazine.com/news/181106-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Personnel File]]></title>
         <description><![CDATA[Comings and goings from the world of restructuring and bankruptcy.]]></description>
         <link>http://www.iddmagazine.com/news/181245-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Kimball Hill Enters Chapter 11]]></title>
         <description><![CDATA[Homebuilder Kimball Hill filed for Chapter 11 last week, but plans to use $60 million in cash to continue building homes in Chicago's suburbs. ]]></description>
         <link>http://www.iddmagazine.com/news/181253-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Houston's Superior Offshore Files For Bankruptcy Protection ]]></title>
         <description><![CDATA[Superior Offshore said Friday it filed for Chapter 11 bankruptcy protection in the US Bankruptcy Court for the Southern District of Texas. The company, which traded on Nasdaq until it was delisted on April 23, provides subsea construction and commercial diving services.]]></description>
         <link>http://www.iddmagazine.com/news/181263-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Lehman Keen On SWFs]]></title>
         <description><![CDATA[Lehman Brothers tapped its head of European and Middle Eastern media, consumer and retail investment banking, Makram Azar, to fill a newly created position, global head of sovereign wealth funds. The move follows Morgan Stanley's establishment of a team to cover sovereign wealth funds and financial sponsors in the Middle East and North Africa.]]></description>
         <link>http://www.iddmagazine.com/news/181069-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[No More Free Lunch For UBS' I-Banking Business]]></title>
         <description><![CDATA[In a speech to shareholders Wednesday, the huge bank's chief executive, Marcel Rohner, said the I-banking business is going to have to cut it on its own, and will no longer siphon cash from UBS' wealth management business.]]></description>
         <link>http://www.iddmagazine.com/news/181075-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Smaller PE Players Stay On Aggressive Track]]></title>
         <description><![CDATA[A new survey indicates that small- and middle-market private equity firms may be well positioned in their segments of the investment business despite the economic downturn in the US economy, according to the new Private Equity in 2008 survey sponsored by Rothstein Kass.]]></description>
         <link>http://www.iddmagazine.com/news/181079-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Heidrick Adds To Hedge Fund Practice]]></title>
         <description><![CDATA[Heidrick &amp; Struggles International said Wednesday it has hired executives of Schwab Enterprise, a boutique search company specializing in the hedge fund industry, to bolster its hedge fund practice. ]]></description>
         <link>http://www.iddmagazine.com/news/181080-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Ambac Lost $1.7 Billion In First Quarter]]></title>
         <description><![CDATA[Bond insurer Ambac Financial Wednesday posted a first-quarter net loss of $1.7 billion, or $11.69 a share, compared with net income of $213.3 million, or $2.02 a share, in the year-earlier period. ]]></description>
         <link>http://www.iddmagazine.com/news/181086-1.html?CMP=OTC-RSS</link>
      </item>
   </channel>
</rss>
