Sean Egan
Sean Egan
Sean Egan is a software engineer at Google, where he worked on Google Talk and is currently working on Google Maps. He is the former project leader of Pidgin, a popular instant messaging client. He is also the author of the book Open Source Messaging Application Development: Building and Extending Gaim...
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We think the consolidation in the banking business is going to accelerate. The reason for consolidation remains as strong as ever. It is a national market. It's no longer a regional market.
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With such a low premium of 4 percent to the prior day's close and the fact that there is a significant breakup fee of $225 million, it doesn't give us much comfort that investors are being protected. There has been a huge turnaround among the credit card issuers over the past three years, and with MBNA being acquired, there's some scarcity value for Providian. But their shareholders are not getting it.
bells portion
The old AT&T is practically put together. A big portion of the split-up of the Bells has been reconstituted.
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Delphi alone will put them in an extremely vulnerable position.
lawsuits
There may be more lawsuits and a fine, but I think they will be manageable,
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It's one thing to buy an S.U.V. when gasoline prices are at $1.80, it's an entirely different matter to buy them when they are over $ 2.70. G.M. and Ford have no alternative but to boost the discounts to maintain their sales,
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It's crazy. There's no reason why a couple of private firms should be given market information ahead of everybody else.
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Moody's chairman, Clifford Alexander, was on the board of WorldCom up until last year, ... The biggest bankruptcy in U.S. history, and the chairman of Moody's was on the board. There's no way that should happen. He also shouldn't be on the board of the National Association of Securities Dealers. They're supposed to be independent.
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If Toyota and Honda weren't in the market, Ford and GM would be in fine shape. We don't see anything on the horizon that is going to substantially change the slide.
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It is going to put a major dent in GM's profitability, but GM is stuck right now.
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It dodged a bullet by avoiding punitive damages in this case. But if it is forced to clean up lead paint, the company's exposure could be huge.