While Bank of America/Merrill Lynch can’t wait to see Beringer vanish beyond the distant horizon of a planet in another solar system, the Australian operation has found favor at the center of the banker’s heart. (See related article: BofA Throws Beringer Under Bus, Urges Treasury To Divest ASAP No Global Wine Shortages: The Real Data […]
BofA Throws Beringer Under Bus, Urges Treasury To Divest ASAP
Throwing a company under the bus seems like an odd way to kick off an asset sale, but that’s what Bank of America./Merrill Lynch seems to be doing with the U.S. assets of Treasury Wine Estates. On the other hand, it could work well especially if you have two other major brokerages — Citi and […]
Hambrecht’s Debt and Legal Woes Keep Mounting
October 25, 2013
Taking a millionaire to court carries its own set of problems, but when the defendant is William R. (Bill) Hambrecht, winning is only the start of the battle. Trying to collect the monetary judgement awarded by the court may be even harder. This lesson has been brought home to five parties who have won judgments […]
BofA Bullish On Silicon Valley Bank & Wine “Niche”
October 15, 2013
Bank of America has rated Silicon Valley Bank (Nasdaq: SIVB) at the top of its “Buy” list of three banks its analysts have begun following. The other two are Iberiabank Corp (Nasdaq: IBKC) and Texas Capital Bankshares (Nasdaq: TCBI) “SIVB is our Top Pick among the Buy rated names. We believe valuations have further room […]
The Coup d’Etat At Treasury Wine, Foley Shops A Portfolio Winery, Truett-Hurst’s Margin Magic
October 4, 2013
TREASURY WINE INTRIGUE Investment and brokerage sources tell Wine Executive News that David Dearie’s ouster came as a result of an “institutional investor coup d’etat” over Dearie’s refusal to unload TWE’s US operation following the company’s $147 million, old-plonk, U.S. train wreck. “They [investors] never really got over the $300 million write-down the company had […]