Bruce Wasserstein, the Wall Street investment banker who helped pioneer the hostile takeover in the 1980s and reshaped the mergers and acquisitions business into a high art, died Wednesday in Manhattan.
Mr. Wasserstein, 61, was the chairman and chief executive of Lazard and had a home in Manhattan. The cause of death has not been determined, [...]
SAN FRANCISCO (MarketWatch) – The Federal Deposit Insurance Corp. said late Tuesday that a group of private investment firms led by Starwood Capital Group LLC has won the right at auction to buy a 40% stake in a firm that holds assets of Corus Bank, which failed last month, for $554 million.
The consortium of firms [...]
Corus’s Condo Assets Look Primed to Rebound Someday; FDIC Approves Sale
Barry Sternlicht’s Starwood Capital Group has a relatively straightforward game plan for the distressed condo assets of Corus Bank that he is set to buy in a closely watched federal auction: wait until the market recovers.
The deal, announced Tuesday evening by the Federal Deposit Insurance [...]
Federal regulators seized Chicago-based Corus Bank on Friday, bringing to 91 the total failures this year and marking one of the first banks to be undone by deteriorating construction and commercial real-estate loans during the downturn.
The branches and deposits of Corus will be assumed by MB Financial Inc., which has more than $8 billion in [...]
The worst buys of the past few years, such as real estate and stocks, may prove to be the best investments a few years from now, said David Dreman, chairman and CIO of Dreman Value Management.
“I think we’re factoring in some pretty major inflation,” Dreman told CNBC.
“There’s been a report that there has been $21 [...]
