4 Stories

Hefner Sparks Bidding War for Playboy

Founder wants to take media company private

(Newser) - Founder Hugh Hefner wants to take Playboy private, and he mounted a bid today that values the struggling company at $185 million, Bloomberg reports . Playboy Enterprises stock closed up almost 41% and attracted interest from another party—but who would want a conglomerate that's lost $20 million in just 2... More »

Bankrupt Companies Now Look Like Great Bargains

Improving economy pulls companies from the brink

(Newser) - For big, public companies, it's a good time to be bankrupt. With earnings skyrocketing—77% of the S&P 500 has beaten expectations so far this quarter—a lot of companies that had been left for dead suddenly have life, and their shareholders have a fighting chance of keeping their... More »

Fannie, Freddie Employees Watch Assets Plunge

(Newser) - As the stock prices of mortgage giants Fannie Mae and Freddie Mac plunged 80% this year, employees of the companies helplessly watched their fortunes sink with the ship, the New York Times reports. For instance, Fannie Mae’s workers owned $116 million in company stock at the end of 2006;... More »

Bear Stearns Jumps on Hope for Higher JPMorgan Bid

Likely stockholder holdout drives spike

(Newser) - Bear Stearns shares jumped 23% today on hopes that stockholders will reject JPMorgan's bailout offer in favor of a higher offer, Bloomberg reports. The surge moved the price to nearly three times the current value of the fire-sale bid, which one major stockholder termed "derisory." "There's every... More »

4 Stories