Word: landesbank
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...case of BVG, the insurance was provided by Hypo-Vereinsbank, the Landesbank Berlin (LBB) and Credit Suisse. The LBB was privatized in 2007. Expecting that LBB would be downgraded by ratings agencies, BVG was planning to insure its assets through another state-owned bank in Germany, the Landesbank Baden-Wuerttemberg. But city officials say BVG's advisor, J.P. Morgan, suggested the transit company spread the risk by insuring the deal through a collateralized debt obligation, or CDO, backed by a consortium of some 150 banks and insurers that included AIG and Lehman Brothers...
Merckle's investment company, VEM, owes banks €5 billion. For the past two months, Merckle had been entrenched in negotiations with some 40 banks, including Commerzbank AG, Deutsche Bank AG, Royal Bank of Scotland Group PLC and public bank Landesbank Baden-Wüerttemberg, to get a bridge loan to keep VEM afloat...
Airbus' other planes, including the A320, are still selling well, and EADS's helicopter and other military divisions reported strong sales and earnings this year. Ulrich Horstmann, an aviation analyst at Bayerische Landesbank, reckons there's an 80% chance that Airbus will be able to bounce back. "But there is a danger it'll get sucked into a vicious circle of job cuts, sinking morale and political infighting," he says. As for Airbus as a model for industrial cooperation, James Foreman-Peck, a professor at Cardiff Business School who specializes in European industrial policy, says it remains valid...
...than commercial ones, where horse-trading trumps industrial efficiency, and where the national interests of its partners are balanced so carefully that many operations are needlessly duplicated. "It's very hard for Airbus to free itself from political strangulation," says Ulrich Horstmann, aerospace analyst at Munich, Germany-based Bayerische Landesbank. Christian Streiff, who took over as Airbus chief executive in July, is now trying to wriggle out of that choke grip. Last week, the board of EADS, Airbus' parent, signed off on his sweeping restructuring plan to replace political bargaining with industrial logic. Streiff says that Airbus urgently needs...
...types of aircraft (the 777 and the 737) that are selling well, and last month it said it would stop making its 717. "If Boeing doesn't make the 787 a success, it has no more trumps in its hand," says Ulrich Horstmann, an aerospace analyst with Bayerische Landesbank in Munich. Don't think Stonecipher isn't aware of that. He recently approved the firing of the head of Boeing's sales team. Stonecipher admits that his company has been overconfident in the past but says he sees the same trait among the Airbus troops: "Arrogance is just awful...