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☆ This is the best buying opportunity in retail banks in years, Baird says
▼ + stars: | 2023-03-14 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

The rout in regional banks has resulted in one of the best buying opportunities in "many years," according to Baird. KRE 5D mountain KRE's five-day performance Regional bank stocks nosedived after the failure of Silicon Valley Bank, even after U.S. regulators backstopped all depositors in the banks. George noted that while liquidity movement is generally hard to predict, the average retail or corporate customer of most regional banks is not at all similar to those at SVB. Among his coverage universe, he has overweight ratings on 11 regional bank stocks. But even after Moody's comments, bank stocks were still recovering some lost ground on Tuesday, including Fifth Third Bancorp shares, which rose nearly 3%.

☆ What are dual-class shares and why do they matter for investors like us?
▼ + stars: | 2023-03-13 | by ( Paulina Likos | ) www.cnbc.com time to read: +10 min

Alphabet (GOOGL), Meta Platforms (META), Ford Motor (F) and Estee Lauder (EL) are the four Club holdings that maintain a dual-class structure. Dual-class stock structures generally designate shares as part of Class A or Class B, with one carrying more weight than the other. Google Co-founders Sergey Brin and Larry Page took their nascent firm, now Alphabet, public in 2004 with a dual-class stock structure. Advantages A dual-class structure allows founders, C-suite executives or key investors to maintain control and execute their long-term vision for the business. Bottom line Dual-class shares are not ideal, but they're not a deal breaker either.

☆ Norfolk Southern wants to 'make things right' after Ohio train crash, CFO says
▼ + stars: | 2023-02-23 | by ( ) www.reuters.com time to read: +2 min

Feb 22 (Reuters) - Norfolk Southern (NSC.N) will take responsibility for cleaning up the environmental damage from this month's train derailment and controlled detonation of hazardous materials in East Palestine, Ohio, its finance chief said on Wednesday. "We take responsibility ... We're fully dedicated to making things right," George said at an investor conference hosted by Barclays. Norfolk Southern will quantify costs of the clean up no later than its first-quarter earnings, he said. The National Transportation Safety Board (NTSB) has said it would release a preliminary report on its initial findings on Thursday into the derailment. He will be joined by representatives from the Federal Railroad Administration and Pipeline and Hazardous Materials Safety Administration.

☆ Norfolk Southern takes responsibility for Ohio crash environment cleanup, CFO says
▼ + stars: | 2023-02-22 | by ( ) www.reuters.com time to read: +2 min

"We take responsibility ... We're fully dedicated to making things right," Mark George, Norfolk Southern's (NSC.N) chief financial officer, said at an investor conference hosted by Barclays. A day earlier, the head of the U.S. Environmental Protection Agency (EPA) ordered Norfolk Southern to "pay for cleaning up the mess" created by toxic chemicals that spewed into the air, water and soil after the accident. Norfolk Southern plans to quantify related costs no later than its first-quarter earnings. The National Transportation Safety Board (NTSB) plans to release a preliminary report on Thursday on its initial findings into the fiery crash. He will be joined by representatives from the Federal Railroad Administration (FRA) Hazardous Materials Safety Administration (PHMSA).

☆ Some Goldman Sachs partners want to tell the board about their concerns over CEO David Solomon
▼ + stars: | 2023-02-08 | by ( Dakin Campbell | ) www.businessinsider.com time to read: +15 min

A decline in morale at the Wall Street firm concerns some Goldman partners. Here are their concerns about CEO David Solomon, who addressed the partners in Miami. CEO David Solomon addressed Goldman Sachs' partners today at the firm's annual partners meeting in Miami. There's little history for Goldman partners taking their concerns directly to the board. Since then, according to someone who has spoken to investors, more shareholders have questioned how long Solomon can last as Goldman's CEO.

The Fed currently holds about $2.6 trillion of MBS as part of its roughly $8 trillion securities portfolio. That is about a quarter of the total MBS market, what George referred to as an "enormous" share that raises questions about the appropriate extent of the central bank's presence. In theory, that puts upward pressure on long-term interest rates by lowering demand for those assets. George said she did not have a specific plan in mind, but felt her colleagues should get to work on one. More important than the details of any plan "is just to say how will we go about doing that earlier rather than later.

☆ Fed policymakers call for further rate hikes to beat inflation
▼ + stars: | 2023-01-18 | by ( Howard Schneider | Lindsay Dunsmuir | ) www.reuters.com time to read: +5 min

(Reuters) -Federal Reserve policymakers on Wednesday signaled they will push on with more interest rate hikes, with several supporting a top policy rate of at least 5% even as inflation shows signs of having peaked and economic activity is slowing. REUTERS/Jason Reed“I just think we need to keep going, and we’ll discuss at the meeting how much to do,” Cleveland Fed President Loretta Mester said in an interview with the Associated Press. The remarks appeared to reflect a widely shared view among her fellow policymakers, most of whom as of December had penciled in a 5.00%-5.25% policy rate in coming months. Mester said that for her part she expects the Fed’s policy rate to need to go “a bit higher” than that, and stay there for some time to further slow inflation. Dallas Fed President Lorie Logan also supports a slower rate hike pace ahead because of the uncertain outlook and the need to be flexible.

☆ 2 top executives at consulting giant McKinsey broke down 3 ways Gen Z is transforming the workplace
▼ + stars: | 2023-01-16 | by ( Cadie Thompson | Pete Syme | ) www.businessinsider.com time to read: +4 min

Gen Z is starting to transform the workplace, according to two McKinsey executives at Davos. They told Insider how Gen Zers are more open to collaborate than millenials, but still have strong values. "The millennial generation was like 'Let's blow up all the institutions and start from scratch'," she said, noting that Gen Z takes a more "pragmatic" approach. George told Insider how the company has changed its talent model to accommodate this. McKinsey is working hard to be "more open about who we are, and what we do, because that's how Gen Z sees the world," she added.

☆ KBW's best trades for 2023, including a short bet against Coinbase
▼ + stars: | 2023-01-06 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

In the meantime, KBW has shared a list of several names to trade in 2023, many of which are short bets. Perhaps the most high-profile name on the list is Coinbase – and the firm has it down as a short bet, thanks to deteriorating volumes and regulatory overhang. The firm has an underweight rating on Coinbase and a price target of $37. Its price target of $6 is 18% below its Thursday closing price. The firm's price target on Allstate is 11% above where the stock closed Thursday.

☆ Fed's Esther George sees rates staying high at least into 2024
▼ + stars: | 2023-01-05 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

As her 40-year central banking career comes to a close, Kansas City Federal Reserve President Esther George is advising her colleagues to stay tough in their efforts to stamp out runaway inflation. George said Thursday that she thinks the Fed should raise its benchmark borrowing rate above 5% and keep it there until there are substantial signs that prices are stabilizing. At the December Fed meeting, the rate-setting Federal Open Market Committee voted to raise the fed funds rate half a percentage point to a range of 4.25%-4.5%. Asked whether her view is that the funds rate should hold above 5% into 2024, George replied, "It is for me." George is leaving the Fed this month as she hit the mandatory retirement age of 65.

☆ Fed's George: It will be key to hold rates up once hikes end
▼ + stars: | 2023-01-05 | by ( Michael S. Derby | ) www.reuters.com time to read: +3 min

In the interview, George said her colleagues should press forward with their ongoing efforts to shrink the size of the Fed's balance sheet. "I think it's very important that the Committee follow through on its plans to significantly reduce the balance sheet," George said. She noted that she still views the Fed using its balance sheet as a tool of monetary policy as experimental and full of the possibility of unintended effects on the economy. "I think we still have a lot to learn about what the consequences are of these balance sheet policies," George said. George said that she doesn't believe the size of the Fed's balance sheet has created major financial stability risks but said it's something that needs watching.

☆ Deion Sanders is hired as the next football head coach for the University of Colorado
▼ + stars: | 2022-12-03 | by ( Jacob Lev | ) edition.cnn.com time to read: +1 min

Football legend Deion Sanders has been named the new University of Colorado football head coach, the school announced Saturday. The Tigers won the Southwestern Athletic Conference (SWAC) championship earlier Saturday, defeating Southern University 43-24. “There were a number of highly qualified and impressive candidates interested in becoming the next head football coach at Colorado, but none of them had the pedigree, the knowledge and the ability to connect with student-athletes like Deion Sanders,” Colorado athletic director Rick George said in a statement. In October, Colorado fired Karl Dorrell after an 0-5 start and an 8-15 overall record in three years as head coach. Interim head coach Mike Sanford went 1-6 as the Buffaloes finished the season with the worst record in the Pac-12 Conference.

☆ Jeffrey Epstein Estate Settles Suit Brought by U.S. Virgin Islands Attorney General
▼ + stars: | 2022-12-01 | by ( James Fanelli | Corinne Ramey | ) www.wsj.com time to read: 1 min

Jeffrey Epstein’s former home on the island of Little St. James in the U.S. Virgin Islands. The estate of Jeffrey Epstein on Wednesday settled a lawsuit brought by the U.S. Virgin Islands that accused the disgraced financier of trafficking and sexually abusing girls and young women on his private island in the Caribbean. U.S. Virgin Islands Attorney General Denise George said in a statement that, under the settlement’s terms, the estate agreed to pay the Virgin Islands government $105 million, as well as one half of the proceeds from the sale of Little St. James, one of Epstein’s private islands. The estate also agreed to pay $450,000 to remediate environmental damage around Great St. James, another Epstein-owned island, Ms. George said.

☆ Jeffrey Epstein Estate Settles Suit Brought By U.S. Virgin Islands Attorney General
▼ + stars: | 2022-12-01 | by ( James Fanelli | Corinne Ramey | ) www.wsj.com time to read: 1 min

The estate of Jeffrey Epstein has agreed to pay the U.S. Virgin Islands more than $105 million to settle a lawsuit alleging that he used the territory as the base of an extensive sex trafficking operation. "We are sending a clear message that the Virgin Islands will not serve as a haven for human trafficking." The estate also agreed to pay $450,000 to repair environmental damage around Great Saint James, the other Epstein-owned island. Jeffrey Epstein's estate on Little Saint James in the U.S. Virgin Islands. Epstein bought Little Saint James, off St. Thomas, for $7.95 million in 1998, NBC News reported.

☆ Jeffrey Epstein estate settles Virgin Islands sex trafficking case for over $105 million
▼ + stars: | 2022-11-30 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +4 min

The estate of deceased sex offender Jeffrey Epstein and related entities agreed to pay the U.S. Virgin Islands more than $105 million as part of a settlement in a sex trafficking and child exploitation case, the territory's attorney general said Wednesday. "This settlement restores the faith of the People of the Virgin Islands that its laws will be enforced, without fear or favor, against those who break them," Virgin Islands Attorney General Denise George said in the press release. "We are sending a clear message that the Virgin Islands will not serve as a haven for human trafficking." The Virgin Islands brought civil claims against Epstein's estate in 2020 under a law similar to the federal RICO Act, which aims to combat organized crime. The announcement Wednesday evening noted that proceeds from the sale of Epstein's island will go toward a trust dedicated to funding efforts to help victims of sex trafficking and sexual abuse.

☆ Secret 9/11 memo reveals Bush rewriting the history of the 9/11 attacks and the warnings he'd tuned out
▼ + stars: | 2022-11-30 | by ( Mattathias Schwartz | ) www.businessinsider.com time to read: +19 min

The ten members of the 9/11 Commission got to ask him and Vice President Dick Cheney any question they wanted about the September 11th attacks. What the new memo makes clear is that the White House's lack of urgency in facing down the domestic Al Qaeda threat wasn't all that complicated. Fortunately for Bush, the 9/11 Commission Report was careful not to point the finger directly at the sitting president. Still, when set beside the newly declassified memo, their official version of history as described by the 9/11 Commission Report feels incomplete, and sanitized. On the question of whether Al Qaeda came up during the August 17 briefing, Morell said he did not remember.

Companies U.S. Virgin Islands FollowNEW YORK, Nov 30 (Reuters) - Jeffrey Epstein's estate has reached a nine-figure settlement with the U.S. Virgin Islands to settle claims the disgraced late financier used the territory as a base for his decades-long sex-trafficking operation. George also said Epstein bought the nearby Great St. James in 2016 to keep people from monitoring him and victims from escaping there. Epstein had also been accused of sexual abuse at his homes in Manhattan, New Mexico and Palm Beach, Florida. His former associate Ghislaine Maxwell is appealing her conviction and 20-year prison sentence for enabling Epstein's abuse of girls. The government's share of Little St. James sale proceeds will go toward counseling and other services for sexual abuse victims.

☆ Treasury yields rise as traders await Fed minutes, key economic data
▼ + stars: | 2022-11-23 | by ( Sophie Kiderlin | ) www.cnbc.com time to read: +1 min

The benchmark 10-year Treasury yield was trading at around 3.7650% at around 3:40 a.m. The yield on the 2-year Treasury was up by around two basis points to 4.5372%. Treasury yields climbed on Wednesday as investors looked to the release of U.S. Federal Reserve meeting minutes, which could provide clues about future monetary policy. Investors are hoping to gain further insights into whether the Fed will slow interest rate hikes and what it will take for them to be paused entirely when the central bank's November meeting minutes are released on Wednesday. Concern about the pace of rate hikes leading the U.S. economy into a recession has spread among traders.

☆ Gold flat as market awaits Fed minutes for rate-hike path
▼ + stars: | 2022-11-23 | by ( ) www.cnbc.com time to read: +2 min

One kilo gold bars are pictured at the plant of gold and silver refiner and bar manufacturer Argor-Heraeus in Mendrisio, Switzerland, July 13, 2022. Gold prices were flat on Wednesday, as investors held back from making big bets ahead of the U.S. Federal Reserve's latest policy meeting minutes, which could offer clues on further interest rate hikes. "There is some nervousness in the market ahead of the Fed minutes," said Edward Meir, an analyst with ED&F Man Capital Markets. Market participants are awaiting the minutes of Fed's Nov. 1-2 policy meeting due at 1900 GMT. Although gold is seen as a hedge against inflation, rising U.S. interest rates dull non-yielding bullion's appeal.

☆ US stocks fall as comments from Fed officials dash hopes for a pivot on rate hikes
▼ + stars: | 2022-11-17 | by ( Carla Mozée | ) www.businessinsider.com time to read: +3 min

Fed officials Esther George and James Bullard separately indicated the Fed is still on course for more rate hikes. Stocks came under pressure with Treasury yields rising. Equities lost ground as Treasury yields scaled higher. The Fed in 2022 has jacked up the fed funds rate from 0% to a range of 3.75%-4%, including four consecutive, hefty hikes of 75 basis points. Along with viewpoints voiced by Fed officials, investors weighed quarterly results and economic data.

☆ Fed's George calls for 'more measured' pace of rate hikes
▼ + stars: | 2022-11-10 | by ( Ann Saphir | ) www.reuters.com time to read: +2 min

Nov 10 (Reuters) - Kansas City Federal Reserve President Esther George on Thursday reiterated her support for a slower pace of U.S. interest rate increases, calling for a "more measured" approach that allows the central bank time to judge how the rises in borrowing costs are affecting the economy. "I continue to see several advantages for a steady and deliberate approach to raising the policy rate," George said in remarks prepared for delivery to an energy conference co-hosted by her regional bank and the Dallas Fed. The goal has been to slow the economy and bring down inflation that's running far higher than the Fed's 2% goal. George dissented in June when the Fed pushed through the first of its extra-large rate hikes, and though she has not done so since, she has repeatedly called for a slower, steadier pace of increases than what the central bank has delivered. "A more measured approached to rate increases may be particularly useful as policymakers judge the economy's response to higher rates," she said.

☆ Midterm elections live updates: Pennsylvania races, New Hampshire Senate race too early to call
▼ + stars: | 2022-11-09 | by ( Brandy Zadrozny | Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Sahil-Kapur-Headshot.Jpg | ) www.nbcnews.com time to read: +109 min

Share this -Link copiedWisconsin Senate and governor's races too early to call It is too early to call the Senate and gubernatorial races in Wisconsin, according to NBC News. Share this -Link copiedNew Hampshire Senate race too early to call The Senate race in New Hampshire is too early to call, according to NBC News. Share this -Link copiedPennsylvania Senate and governor races are too early to call After polls closed at 8 p.m. While Maricopa County election officials initially categorized the problem as a “hiccup,” it took hours before a solution was identified early Tuesday afternoon. In Columbus County, election officials allegedly were harassed by an “observer following one-stop workers” and photographing or filming the workers, it said.

While Maricopa County election officials initially categorized the problem as a “hiccup,” it took hours before a solution was identified early Tuesday afternoon. According to the poll, 46% of voters said their family’s financial situation is worse than it was two years ago. Civil rights groups, including the American Civil Liberties Union and the NAACP, filed a similar complaint Friday against state election officials. The app and portal had been down for part of the morning and the state's election hotline also briefly experienced issues. In Columbus County, election officials allegedly were harassed by an “observer following one-stop workers” and photographing or filming the workers, it said.

By the end of Election Day, approximately 21,000 total interviews will be conducted. Civil rights groups, including the American Civil Liberties Union and the NAACP, filed a similar complaint Friday against state election officials. The app and portal had been down for part of the morning and the state's election hotline also briefly experienced issues. In Columbus County, election officials allegedly were harassed by an “observer following one-stop workers” and photographing or filming the workers, it said. Share this -Link copiedSunny weather in most battleground states on Election Day It’s a bright and sunny Election Day in many battleground states!

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