Jessica Sommar
The Archive
PLAINTIFFS' BAIT - J.P. MORGAN SETS ASIDE $900M FOR LAWSUITS, FEES
January 3, 2003 | 5:00amJ. P. Morgan Chase is setting aside a whopping $900 million to cover the cost of the myriad lawsuits facing the firm over Enron and analyst conflicts of interest. The...
CONGRESS BLASTS BANKS' SUPPORT FOR ENRON
January 3, 2003 | 5:00amNow it all becomes clear. As J. P. Morgan Chase was riding high on its good-news settlement yesterday, Congress released a scathing report damning the big bank, along with several...
FASTEN SEAT BELTS - MARKETS LOOK AHEAD TO A TURBULENT JANUARY
January 2, 2003 | 5:00amBattered investors, coming off a third year of bear market losses, are looking straight down the barrel of what could be another difficult year for stocks. Right off the bat,...
2003 OUTLOOK CLOUDED BY CONCERN - WALL STREET
January 1, 2003 | 5:00amWall Street will wake up with a doozy of a hangover New Year's Day. It's not just because stocks are entering what could become the fourth straight year of a...
MARTS CAP LOSING STREAK WITH LACKLUSTER DAY
January 1, 2003 | 5:00amStocks stumbled in lackluster trading as investors rang out the last session of the third down year for stocks - their longest losing streak since World War II. A dismal...
OIL PRICES WOBBLE ON SUPPLY FEAR
December 31, 2002 | 5:00amOil prices went on a wild ride, with crude soaring to a two-year high only to fall 4 percent as investors flip-flopped over uncertainty overseas. Brent crude on the New...
THE LEAN SEASON; WALL STREET STEELS FOR MORE CUTS IN EARLY 2003
December 30, 2002 | 5:00amWall Street staffers - already suffering from waves of layoffs this year - can expect more of the same in the new year, labor pros warn. "Wall Street isn't finished"...
A DEPRESSING DEC. FOR STOCKS
December 28, 2002 | 5:00amStocks edged closer to their worst December performance since the Depression as military tensions escalating across the globe squashed chances of a Christmas rally on Wall Street. Stocks hit their...
RELEASE OF TYCO E-MAILS SMEARS BELTWAY LAW FIRM
December 28, 2002 | 5:00amOutside lawyers knew for years that Tyco International chairman Dennis Kozlowski was raiding company coffers for his own personal use and did nothing to stop it, according to newly uncovered...
HIT THE ROAD JACK : GRUBMAN FINED $15M, BARRED FROM ST. FOR LIFE
December 21, 2002 | 5:00amJack Grubman's career on Wall Street is over, but the former high-flying telecom analyst seems to have escaped doing jail time for his bull market cheerleading. Grubman, the former Citigroup...
WALL STREET WALLOPED WITH $1.4B PENALTY
December 21, 2002 | 5:00amWall Street knuckled under yesterday and agreed to cough up $1.4 billion and undertake sweeping reforms to end regulators' probes into investment banks' conflicts of interest. The hard-fought settlement covers...
LAWSUIT-WARY BROKERAGES NOT OUT OF WOODS YET
December 21, 2002 | 5:00amEven though the Wall Street investment banks' deal with law enforcement isn't yet set in stone, investors gleefully piled into brokerage stocks yesterday, believing the worst is over. But is...
FEDS GO AFTER WIFE OF ENRON'S FASTOW
December 20, 2002 | 5:00amFeds are turning up the heat on tough-minded Andrew Fastow by preparing to charge the former Enron chief financial officer's wife. A federal grand jury reportedly has heard testimony about...
CONFLICT RESOLUTION; SPITZER IS ON VERGE OF BROKER SETTLEMENT
December 20, 2002 | 5:00amNew York Attorney General Eliot Spitzer is expected to announce today grondbreaking reforms and fines to resolve probes over conflicts of interest that have tarnished investment banks' reputations and crushed...
GRUBMAN LIKELY TO TAKE DRUBBING IN SETTLEMENT
December 20, 2002 | 5:00amFormer star telecom analyst Jack Grubman is likely to be slammed with multiple charges from regulators after global settlement talks conclude possibly as early as today. Wall Street's top banks...
BLOCKBUSTER HIT BY DVDS
December 19, 2002 | 5:00amShares of Blockbuster Inc. and its parent company were creamed yesterday after the home video rental giant admitted that it cut its year-end profit forecast by 16 percent because discounted...
ABOUT-FACE FOR GENERAL AT TECH FIRM
December 19, 2002 | 5:00amRichard Secord, embattled chairman of Computerized Thermal Imaging, bought back shares in his company after being subpoenaed by a federal grand jury probing the retired U.S. Air Force general for...
WORLDCOM BOARD MEMBERS QUIT
December 18, 2002 | 5:00amWorldCom cronies - board members who allegedly approved of senior executives' looting company coffers and cooking the books - resigned en masse, handing the new CEO a clean slate. Six...
GLOBAL TALKS STALL OVER NEW FEES
December 18, 2002 | 5:00amMillions in additional fees slapped on investment banks in talks with regulators to clean up tainted research on Wall Street are sending the hard-fought global settlement off track, The Post...
E-MAILS AGAIN HIT QUATTRONE, THIS TIME OVER EARTHLINK
December 17, 2002 | 5:00amA new set of e-mails appears to again finger Credit Suisse First Boston star banker Frank Quattrone as the man behind shifts in analyst coverage made to placate client company...