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Jefferson County OKs Seven-Day Forbearance Extension

Jefferson County, Ala., commissioners voted Thursday to approve a seven-day extension of its forbearance agreements with banks and swap counterparties at the request of Alabama Gov. Bob Riley.

Hearing Today In Jefferson Co. Sewer Case

US District Judge R. David Proctor today holds a second conference call with attorneys for Jefferson County, Ala., and the bond insurers and trustee who are seeking immediate appointment of a receiver for its troubled sewer system.

Ratings Actions & Outlooks

Select rating downgrades and outlooks from Moody's and S&P.

Jefferson Receiver Sought

With less than a week until the expiration of forbearance agreements that delay some of Jefferson County, Ala.'s sewer bond debt payments, insurers and the county's bond trustee Tuesday filed an emergency motion for the appointment of a receiver for the sewer system.

Morgan Stanley Merger Talks Advance

Morgan Stanley has reportedly advanced its discussions with Wachovia about a possible merger, which would leave Goldman Sachs as the nation's lone remaining independent investment bank.

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Articles

Remaking A Bank

Outside of Barclays Capital's fourth-floor boardroom in Midtown Manhattan hang two flags, one US and the other British. It is a nod both to the more-than-three-century-old bank's UK roots and its plans for a dramatic global expansion, plans that include Wall Street. The man behind Barclays' global push, Robert Diamond, almost took another career route: academia, following in the footsteps of his mother and father. He revealed that and more during a recent interview with IDD.

Only Strong Survive

A daunting market environment kept IPO issuance at bay last month and delivered a disheartening start to the third quarter. Only 47 IPOs were priced in July raising $748 million, the lowest monthly deal count in five years, according to Dealogic, making a traditionally slow summer month painfully slower.

Private Equity Gets Heated In India

When news surfaced this past week that Indian business mogul Anil Ambani's Reliance Capital was planning to raise $1 billion for a new India-focused private equity fund and Tata Capital had appointed banking veteran Shailendra Bhandari to run its private equity operations, the developments reinforced how much interest India's corporations have in investment prospects in their own backyard.

KKR Plans New Public Mart Move

When executives of Kohlberg Kravis Roberts were asked by Sandler O'Neill & Partners analyst Michael Kim about the timing of the firm's new plans to go public in a conference call last week, KKR member Scott Nuttall answered with the grace of a gazelle.

Bridging The Infrastructure Gap

Robert Aguallo Jr., formerly chief operating officer for investment operations at CalPERS, recently spoke to IDD sister publication Mergers & Acquisitions about opportunities in the infrastructure space.

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