Word: stocked
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Dates: during 2000-2009
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...have our peculiar talents: an uncanny sense of direction, a knack for knowing when to dump a stock, an ability to bake the perfect cake. Larry Wood's forte is winning the New Yorker's Caption Contest, in which readers are invited to submit the perfect quip to accompany the magazine's back-page cartoon. At least 5,000 would-be wordsmiths play the contest each week; of those, three entries are selected by the magazine as finalists, and the winner is chosen in an online vote. On June 1, Wood, a 46-year-old attorney from Chicago, found...
...before, the month of preparation the banks have had before submitting their capital plans has in general shown that the banking industry is stronger than many thought. Banks were able to raise capital in May and early June with surprising ease. Selling new shares usually makes a company's stock price go down because the earnings-per-share pie gets cut up into more slices. But many of the banks have been able to raise cash and have their stock price continue to rise. J.P. Morgan, for instance, raised $5 billion in May, yet its stock price rose 14% over...
...from the Troubled Asset Relief Program back in October. Morgan Stanley, for instance, came out of the stress test a month ago in need of $1.8 billion in additional capital. But in the past month the bank was able to raise nearly $7 billion by selling new shares of stock. The result: Morgan says those stock sales and other moves will allow the bank to repay all of its TARP funds by the end of June. And Morgan won't be alone. All told, eight of the 19 banks will tell regulators that they plan to pay back their TARP...
...forced to replace its chief risk officer and four of its board members. Reportedly, the FDIC would like Citigroup to dump its chief executive Vikram Pandit. So far, members of the Citi board of directors have said they have no plans to replace Pandit. (Read "Has Wells Fargo Stock...
...month pulling off some fancy financial gymnastics to meet their capital requirements. The stress test found that Fifth Third was $1.1 billion short of the common equity it needed to be considered well funded. Earlier this week, the bank announced that it had raised $1 billion by selling new stock. But that left the bank $100 million short of its goal. So the bank couldn't stop there. Instead, it offered $365 million of the money it just raised to preferred shareholders in order to get them to convert their stock into common shares. Common shares counted as capital...