Mark Mariotti

Mr. Mark Mariotti

Chief Executive Officer, Future Management Holdings Inc


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GLG News by Mr. Mark Mariotti, Chief Executive Officer

Analyses are solely the work of the authors and have not been edited or endorsed by GLG.

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$77 BILLION FED speculation - $1 BILLION equity market cap speculation

April 13, 2009

$77 billion more to bail out bankrupt gm? | www.dailyfinance.com

Current $77 BILLION FED speculation - $1 BILLION equity market cap speculation places General Motors as risky as the lottery.  

GM stock shares still receiving bids with bankruptcy prep

April 7, 2009

gm in "intense" bankruptcy prep: source | www.reuters.com

Our Private Equity firm has experienced tremendous (during the recent trailing 12 months) equity stripping (by market conditions and government interventions), and has left us wondering why would General Motors  (GM), a bankruptcy candidate still receive bids? Twenty-Seven (27) millions shares trading as of 3:15 pm eastern. On the other hand Ford (F) shares have rallied (Ninety-Eight (98) million shares trading today) during the recent months and makes more sense for share accumulation, since they rejected TARP funds and have been executing a recovery plan for several years.

RBS - along for the ride.

April 7, 2009

Taxpayers take 70% of Royal Bank of Scotland | business.timesonline.co.uk

When the take of 70% of anything, including Royal Bank of Scotland's taxpayers take of the equity shares - you own it, others are along for the ride.

Budgets - Actual vs Estimated

March 31, 2009

fdic: 2009 budget executive summary | www.fdic.gov

The strength of a properly estimated budget, and the conviction to execute within budget sends a strong positive fiscal message.

US Automotive The Future Way

March 30, 2009

text - president obama's remarks on u.s. car industry� | uk.news.yahoo.com

The US president obama's remarks on u.s. car industry has given the green light to the future way of making automobiles.

Prime, sub-prime totally sub-optimal cost of funds margin.

March 27, 2009

HDFC cuts retail prime lending rate | economictimes.indiatimes.com

HDFC (India's largest housing finance company) has attributed the cut in its retail prime lending rate (RPLR) to a reduction in its cost of funds.

The risk of heavy outflows versus reality of transparancy

March 19, 2009

Swiss warn lifting secrecy ‘will take time’ | www.ft.com

Most of the financial community has demanded transparency within publicly traded corporate organizations - which seems appropriate if the public is to risk capital and buy stock of these equities. Now it seems the next directive is following the actual capital and making the global banking repositories provide transparency as well. Switzerland had succumbed to pressure on easing bank secrecy, but the full automatic exchange of tax information, as demanded by countries such as Germany, remained out of the question for Switzerland.

Tread very carefully

March 9, 2009

HBOS, RBS U.K. Deposits Fell; Government Banks Gained | www.bloomberg.com

The US Senator Dodd has suggested a $500 Billion line of credit for the FDIC.  FDIC chair Shelia Bair has acknowledged a good idea for US depositors would be to continue the higher ($250k) FDIC Insurance limits on depositors bank deposit principal.

Business Risk Management First - Before Quant or Qual

March 9, 2009

Deutsche Bank’s Quantitative Team to Leave, Start Hedge Fund | www.bloomberg.com

Some of the The Frankfurt- based bank's DWS funds have recently suspended dividends due to previously exposed risk and current market conditions (1). Further, the Frankfurt- based bank,  will cut risk by shifting resources from areas such as proprietary trading after “unprecedented market conditions revealed some weaknesses” in trading operations. (1) DWS RREEF Real Estate Fund, Inc. (AMEX:SRQ - News) and DWS RREEF Real Estate Fund II, Inc. (AMEX:SRO - News) (the “Funds”) announced today that they will not declare any distributions to common shareholders in March 2009 because market conditions have resulted in a decline in portfolio values causing the Funds to currently not meet the preferred share asset coverage ratio that is a precondition to the declaration of common share distributions under the Investment Company Act of 1940.

I did not have nationalization relations with that bank!

February 25, 2009

RBS May Not Avoid Full Nationalization With Insurance | www.bloomberg.com

Well, did you or didn't you? Guess we are not sure any longer since we have various definitions floating around. Both the UK & US have essentially shored up the depositors principal, and stripped the investors equity.

Guarantee for life?

February 17, 2009

Axa Asia Posts A$372.9 Million Loss on Investments | www.bloomberg.com

In Southern California I watch Axa commercials on CNBC stating I can receive guaranteed payments for life.

Something is better than nothing

December 8, 2008

RBS Promises Borrowers Six-Month Respite Before Foreclosing on Mortgages | www.bloomberg.com

The last six months of this frm's operation has seen its share of challenges. Executives and equity holders have experienced severe penaltys for the onging global financial and real estate meltdown. If the equity holders can have something of a planned ROI, it is better than nothing. Sad that we are at this point, but unfortunately we are.

Here We Go Again

November 10, 2008

Banks to defy Government and raise mortgages rates | www.timesonline.co.uk

Peter Mandelson, the UK Business Secretary, added to the pressure on lenders to pass on the Bank of England's expected base rate cut to homeowners, saying that that banks who did not would face a customer backlash. Henry M. Paulson Jr., the US Treasury Secretary plans to call for the Federal Reserve to be given new, explicit powers to intervene in the workings of Wall Street firms to protect the financial system, adapting his vision of how the financial world should be regulated to reflect the lessons of the collapse of Bear Stearns.

Entertain and Educate

November 10, 2008

Hey, Barack: Hire Me! A four-day plan to restore the U.S. economy By James Cramer | www.thebigmoney.com

This is NOT Jim Cramer bashing! However, let's look at the man's and his employers disclosure! Personally I do enjoy the CNBC educators/entertainers/reporters especially those that have some action in the game, and I firmly believe if the viewer is tempered correctly, and takes this information with its proper disclosures... the information does no harm. And yes, perhaps even does some good!

TRUST BUT VERIFY

November 10, 2008

Automakers' $25 Billion Fast-Track Bailout | www.businessweek.com

For too many decades the US Auto Industry has presented its share of troubles to the employees, contractors, investors and customers of Automobiles. The US government recognizes the extreme hardship to the US workers and economy of failing auto enterprizes and desires some variation of a bailout.

Global Transparancy Needed

November 6, 2008

RBS unveils capital plan as writedown hits £6.1bn | business.timesonline.co.uk

Seems that still today (11/5/2008) that various US financial stock market reporting data indicates symbol RBS (Royal Bk Scotland Group Plc) has a per share price value of USD $1.08 and dividend yield of such an unbelievable nature as well as n/a (as of 12:19 PM EST on 11/05/2008 in USD - NYSE). Investors must have access to reliable information and data along with transparency to evaluate risk.

Another AT&T Cycle

November 5, 2008

AT&T's Troubling Trends | www.businessweek.com

Personally during the previous 30-years I have utilized the business and services of AT&T land line and wireless services. I have experienced the previous court break-up of AT&T - the dividend destruction of AT&T common stock, and never sure which company the current AT&T would purchase to bring it back to the AT&T of old.  

What EXACTLY is in this thing? The “mark-to-market” effect.

November 3, 2008

Deutsche Bank profit plummets 94% | www.bankingtimes.co.uk

Deutsche Bank posted a profit in the third quarter of 2008, but only after adopting EU accounting rules (avoiding a loss by making so-called “mark-to-market” valuations of its investments) that allowed it to apply a new method of valuing its assets. Deutsche Bank senior executives will not be paid bonuses this year and shareholders have been warned that future dividend payouts will be affected by falling profitability this year and next.

Slow, not dead

October 29, 2008

How Detroit Drove Into a Ditch | online.wsj.com

Ford is expected to move 124,000 units in October 2008

Cerberus, Means Business

October 28, 2008

GMAC Struggles With Financing | www.nytimes.com

Cerberus Capital Management's current issues with other holdings and issues such as Mervyns, the possible merging of GM and Chrysler, and a very difficult lending environment within GMAC reflect the firms focus towards an eventual profitable book.

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