Word: kadlec
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...control of the country's failed banks and start shutting them down -- a course of action that the U.S. has been pushing urgently. "Our government has been telling Japan they have to get rid of the bad banks to let the good ones prosper," says TIME business correspondent Daniel Kadlec. "Without banks lending money, there can be no economic activity, and Japanese banks haven't been lending...
...percent over what TCI stock was before the rumors of the deal started flying. AT&T is even soaking up TCI's $11 billion in debt along with the $37 million it's paying for the cable business -- but it's worth it, says TIME Wall Street columnist Daniel Kadlec: "AT&T needed this. It gives them a way to get into the local phone market that they couldn't figure out before -- and spares them the antitrust uproar that would have come if they had bought back a Baby Bell...
...move isn't risk-free, of course. AT&T has a habit of buying things just to keep up with the Joneses. It swallowed NCR to get into computers, which was a disaster. But Kadlec says the TCI purchase simply extends the company in a natural direction -- allowing it to re-enter the lucrative local phone market that it once dominated. "AT&T has finally solved a strategic problem that brought down its last two CEOs," said Kadlec. Whatever happens, TCI stockholders ought to be happy today: Shares jumped another $4 to $42 on Wednesday's confirmation of the deal...
...used to it. "I'd be very suspicious," says TIME Wall Street columnist Daniel Kadlec. "This was a relief rally -- an excuse to bargain-hunt on the good yen news." Psychology, even on hair-triggered Wall Street, can only take the Dow or NASDAQ so far north. "There's a long history of central banks proving themselves unable to force a currency to stay up or down," says Kadlec. "The economic fundamentals always...
...Which, for like-minded Americans currently walking tall on Wall Street, is a sobering thought. Still, hard times in Tokyo can be good news for U.S. investors. "The time is coming when you should be buying Asian stocks," says Kadlec, who recommends placing around 5 percent of your portfolio in the troubled region. A tumbling yen also helps keep inflation down stateside, not to mention making it a little cheaper to vacation in the land of cherry blossoms...