Word: buyer
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Advising companies on mergers has long been one of the big moneymakers on Wall Street. Companies doing an acquisition or being bought typically hire an investment bank, or a few, to steer them through the transaction. The companies pay fees for this work, which advisers for both the buyer and seller usually split. For large transactions these fees can be substantial: Pfizer is paying an estimated $207 million in M&A fees to the seven banks that are acting as advisors to both companies...
...appear two-edged, at least at first. Housing prices cannot go to zero, so, at some point, the rate at which home values are dropping will slow. Resale rates may go up, but buying homes which have been in foreclosure for months is an incorporeal piece of information. If buyers start to purchase homes on the normal economic basis of being a transaction between private buyer and private seller then the market will have something to celebrate. (See pictures of renting a modernist house...
...gets to keep the profit, if there is any? Does Uncle Sam let the private player keep it all, or does the government get some? How and when does the private player have to repay the government loan? And what if the toxic asset stays worthless - does the private buyer lose his money first, or does the government...
...world has changed for print media. On Jan. 9, the Hearst Corp. announced that the financially strapped paper was for sale. If no buyer could be found within 60 days, the paper would be forced to close its doors or produce a Web-only version with a fraction of its staff. The P-I's demise is a sign of the times, coming in the wake of the Feb. 27 closure of Denver's Rocky Mountain News weeks short of its 150th anniversary, while the San Francisco Chronicle, another Hearst paper, has been put on notice that its days...
Consider recent apartment buyer Hong Chang-Ying, who owns and runs a small electronics store in central Shanghai. She bought her apartment in Shanghai three years ago for the equivalent of about $80,000, and was "sure she could sell it by now at a profit, and buy a bigger place." Ask her if that plan still holds, and she just laughs. "I have no idea now what my place is worth now - and I don't intend to find out, because I'm not going to sell into this market." China may not confront the disastrous effect that huge...