Bashing Chase: American banks. (analysis of Heine Securities purchase of 6.1% of Chase Manhattan Bank's stock raises questions about the value of US bank stocks)
Economist (US), The, April, 1995
ARE shares in America's money-centre banks undervalued? Since April 5th, when it emerged that Heine Securities, an investment firm known for its avid pursuit of shareholder value and willingness to break up businesses, had accumulated a 6.1% stake in Chase Manhattan, the common answer has been Yes. Michael Price, who runs Heine Securities, has made a fortune for the fund's investors by seeking out and roughing up companies whose shares he thinks are cheap.
Shares in Chase have risen by more than 16% since April 5th, boosted by the "Heine factor"--and by speculation that Nations- Bank, America's third-biggest bank, wants to merge with Chase. Shares in Citibank and Chemical, two other big banks, have also risen by around 7% since then. Yet even after their ascent,...
- 5 Rules for Immediate Annuities
- Death in the Family: 12 Things to Do Now
- Dumbest Things You Do With Your Money
- 6 Online Networking Mistakes to Avoid
- 401(k) Mistakes to Avoid
- 5 Economic Scenarios to Keep You Up at Night
- The Real ‘Best Places to Retire’
- Best Credit Cards for You
- 12 Tough Questions to Ask Your Parents
- The Real ‘Best Colleges’
- Home Buyer Tax Credit: How to Cash In
- Why You Shouldn't Bash Cash
- 8 Phony 'Bargains' and Better Alternatives
- Danger: 3 Debit Card Scams to Avoid
- 6 Myths About Gas Mileage
- 29 Fees We Hate Most
- Quick and Easy Ways to Boost Returns
- Best Stocks to Buy Now
- Lower Your Taxes: 10 Moves to Make Now
- New Jobs: 8 Lessons from Real-Life Career Switchers
- The New Job Market: Who Wins and Who Loses?
- Health Care Reform's Public Option: Everything You Need to Know
- Volunteer Work When Unemployed: Should You Work for Free?
- Whose Recovery Is This?
- Long-Term-Care Insurance: 4 Biggest Risks to Avoid
Most Recent Business Articles
Most Recent Business Publications
Most Popular Business Articles
- 7 tips for effective listening: productive listening does not occur naturally. It requires hard work and practice - Back To Basics - effective listening is a crucial skill for internal auditors
- LIFO vs. FIFO: a return to the basics
- FAS 109: a primer for non-accountants - Financial Accounting Standards Board's "Statement 109: Accounting for Income Taxes"
- Using object-oriented analysis and design over traditional structured analysis and design
- Design a commission plan that drives sales - Sales Commissions
