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Carlyle, Crown Wrap Up Real Estate Buy

The Carlyle Group and Crown Acquisitions said Wednesday they have completed their $525 million joint venture purchase of a controlling interest in the retail segment of 666 Fifth Avenue from the building’s owner, Kushner Cos.

CIT Exits Mortgage Business

CIT Group will sell its home lending business and manufactured housing portfolio in a move to reduce mortgage exposure as the global finance company redirects its focus on commercial finance.

Merrill Hires 30 Ex-UBS Muni Bankers

Merrill Lynch has scooped up nearly 30 public finance bankers from the ranks of the now-shuttered municipal group at UBS--taking advantage of a 'once-in-a-decade opportunity' as its Wall Street neighbors shed staff to cope with subprime market-related losses, the firm's municipal chairman said.

Spain's Restructuring Pull

Spain may be on top of the soccer world after its recent win in the European Cup, but it’s apparently just as proficient at something else: luring restructuring pros.

'Big Dig' Builder Files For Protection

Modern Continental Construction Co., the builder involved with the Big Dig project in Boston, filed for bankruptcy protection just days after it was charged by federal regulators with false statements about the quality of construction in two Boston public works projects.

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Merrill Snags UBS Muni Bankers

Merrill Lynch has scooped up nearly 30 public finance bankers from the ranks of the now-shuttered municipal group at UBS Securities--taking advantage of a 'once-in-a-decade opportunity' as its Wall Street neighbors shed staff to cope with subprime market-related losses, according to the firm's municipal chairman.

Carlyle, Crown Wrap Up Real Estate Buy

The Carlyle Group and Crown Acquisitions said last Wednesday they have completed their $525 million joint venture purchase of a controlling interest in the retail segment of 666 Fifth Avenue from the building's owner, Kushner Cos.

CIT Exits Mortgage Business

CIT Group will sell its home lending business and manufactured housing portfolio in a move to reduce mortgage exposure as the global finance company redirects its focus on commercial finance.

Balance Sheet Minefield

Sales have swooned and home prices have plummeted while inventories of homes--new and existing--have ballooned. At the same time, credit conditions have tightened and the economy has seen a dramatic slowdown, leading restructuring professionals like Ron Greenspan of FTI Consulting to believe there is more trouble down the road for homebuilders.

Gelband, Kirk Return To Lehman

Several weeks after demoting its chief financial officer and chief operating officer, Lehman Brothers announced it brought back two senior managers and promoted two others.

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