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Financial News
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GM Europe head says to sell Opel to Magna soon: report
FRANKFURT (Reuters) - General Motors Europe President Carl-Peter Forster expects to sell German unit Opel to Canadian auto parts supplier Magna soon, he told a German newspaper.
More bidders interested in Porsche stake: report
FRANKFURT (Reuters) - Three more bidders are interested in taking a stake in German sports car maker Porsche, rivaling investment plans by Qatar, German magazine Focus reported on Saturday.
Medici lawyer says Kohn didn't get Madoff payments
NEW YORK/VIENNA (Reuters) - Austrian fund manager Sonja Kohn did not receive any kickbacks from Bernard Madoff to steer Bank Medici customer funds to the swindler's investment business, a Medici lawyer said on Friday.
Teck to sell 17 percent stake to China for C$1.74 billion
TORONTO (Reuters) - Teck Resources said on Friday it will sell a 17.2 percent equity stake to state-owned China Investment Corp in a deal that will help the Canadian miner pay down its debt while expanding China's portfolio of commodity investments.
Earnings to set tone for stocks in week ahead
NEW YORK (Reuters) - With Wall Street stuck in a range since May, the start of second-quarter earnings season next week could prove to be a decisive factor for determining how much faith investors should have in an economic recovery.
Stanford clients sue insurance broker Willis Group
NEW YORK (Reuters) - Several Mexican clients of Stanford Financial Group have sued insurance broker Willis Group Holdings Ltd , contending it was a willing participant in a $7 billion fraud at the Texas-based investment company.
Dollar status unlikely to be in G8 communique: G8 source
(Reuters) - The dollar's status as the top global reserve currency is unlikely to be mentioned explicitly in the final communique at next week's Group of Eight summit, a European G8 source involved in preparations for the meeting said on Friday.
About 10 firms submit bids for AIG Taiwan unit: reports
TAIPEI (Reuters) - About 10 global and Taiwan financial firms have submitted bids to buy troubled AIG's Taiwanese insurance unit, newspapers said on Saturday, in a deal that could fetch up to over $2 billion.
Oil falls below $66 after bleak U.S. jobs data
LONDON (Reuters) - Oil dropped a dollar to below $66 a barrel on Friday after unemployment data hardened views economic weakness would sap energy demand and that last month's rally was overdone.
Shanghai plans own "Wall Street bull": report
BEIJING (Reuters) - Wall Street may be down on its luck, but China's growing business hub, Shanghai, plans to install its own version of the Street's famed charging bull statue, casting in metal its hopes to eventually rival New York.
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by Indianapolis Monthly
Even the most sophisticated are challenged to make the best financial decisions among a bewildering array of alternatives. At Hendrickson, C.H. Douglas, & Gray, LLC, we work closely with every client to develop and implement sound financial strategies.
Hendrickson, C.H. Douglas & Gray, LLC (HDG) is an independent wealth management firm registered with the State of Indiana. We offer our services to a diverse base of clients ranging from institutions to individuals and households.
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By Chris Douglas on
6/15/2009 1:10 PM
The bankruptcy and restructuring of Chrysler was nearly delayed... and potentially derailed... by a lawsuit of brought by a senior debt holder objecting to other creditors taking priority. The debt holder in question, none other than pension funds associated with the State of Indiana, bought that debt not ages ago before the current crisis hit, but last year as the crisis gained momentum. It is not surprising to me that we were not treated with sympathy.
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By Chris Douglas on
5/19/2009 8:29 PM
Brousing a shelf of old volumes at Half Price Books, I stumbled upon this verse by the Roman poet Catullus from the 1st Century BC on the burden of... his mortgage! Behold, an age-old problem:
FURIUS, my small estate, my charming villa/shall never be swept away by the south wind,/nor the west wind, nor the raging north,/nor the little breeze from Asia, but, O, a mortgage,/ fifteen thousand, two hundred pieces of gold, here is a blast,/ a storm that carries ruin and the plague.
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By Chris Douglas on
5/15/2009 9:19 AM
We have just received notification that we have been selected second year running for inclusion in Indianapolis Monthly's "Five Star Best in Client Satisfaction Wealth Manager", the result of a third-party administered scientific survey of 92,500 high net worth consumers in the Indianapolis community. Fewer than 7% of wealth managers are selected. Welcoming this designation of superior client satisfaction in a historically turbulent market environment especially, we are humble enough to know that we can always find ways to improve, and we are determined always to do so.
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By Chris Douglas on
4/28/2009 5:27 AM
Every once in a while, a new forecaster makes a confident prediction about the next leg of the stock market. One famous investor declares March 9th a market bottom. Another declares that we are in the midst of a massive bear market rally and will return to it lows and go lower. Still another declares the S&P will end the year at 1100... and yet another insists that the Dow will plummet to 6000 or lower. One will be right... but they are all wrong.
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By Chris Douglas on
4/17/2009 12:55 PM
The Banks have reported better than expected earnings from their trading operations, and these reports have contributed to a sense that the banks have turned a corner. But two accounting angles create a concern, which together reinforce a positive and perhaps unrealistic bias to their announcements.
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