Financial Biz Review: Warren Buffett RULES!
In Tuesday’s JPMorgan (NYSE:JPM) news, it’s estimated the company might post a trading loss of $4.2 billion in its CIO, says International Strategy & Investment Group Inc. Such a loss could reduce the second quarter earnings per share to 65 cents, which is down 30 percent from the previous forecast of 93 cents.
Warren Buffett of Berkshire Hathaway (NYSE:BRKA) provided the best value as CEO, says a Bloomberg report detailing the 50 best-paid CEOs of financial firms, while KKR (NYSE:KKR) co-CEO Henry Kravis was the best paid, with $30 million. On average the salaries of the 50 increased by 20.4 percent in 2011, in the face of sharp decreases in earnings and share prices of most large banks and brokerages.
Blackstone (NYSE:BX) is in talks to acquire a $2 billion portfolio of 95 industrial properties from Chicago-based Walton Street, according to Bloomberg. The firm already owns $1 billion of junior debt on the assets, and they are now worth less than the $2.45 billion in loans which mature on Friday, that Walton took out to purchase them.
Ameris Bancorp (NASDAQ:ABCB), Farmers Capital (NASDAQ:FFKT), First Capital Bancorp (NASDAQ:FCVA), First Defiance Financial (NASDAQ:FDEF), LNB Bancorp (NASDAQ:LNBB), Taylor Capital (NASDAQ:TAYC) and United Bancorp (NASDAQ:UBCP) are seven banks whose Treasury investments will soon be auctioned, as the department continues its process of ending TARP.
Don’t Miss: Will Congress Make an Example of JPMorgan?
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