AN open letter to HSBC's Alex Hungate

Alex Hungate said: “I want to help HSBC grow by maintaining a relentless focus on the needs of its customers. In this role, with its combination of global leadership of the Personal Financial Services business plus the marketing function, I want to ensure that our services always deliver on the powerful promise of the HSBC …

Lehman Brothers Denies Subprime Exposure, HSBC Silent

Back on the 19th of July Lehman Brothers rejected suggestions that they are exposed to subprime problems. Another notably silent voice, other than quarterly and semi-annual results, is HSBC. Analysts at Household – HSBC Watch say the silence might say more than one realizes. Are we to assume HSBC cut Lehman out of the picture …

Cerberus Could Strip and Flip Chrysler and HSBC Finance Corporation

The Cerberus private equity group recently bought Chrysler. Cerberus already owned 51 percent of GMAC. Chrysler Financial is the only part of Chrysler that makes money. The handwriting is on the wall for Cerberus to strip and flip Chrysler, keeping the profitable finance portion. HSBC Finance Corporation may look attractive to Cerberus at this point …

Shareholders, Others, Poised to Sue Over Subprime Losses

When HSBC lost money due to HSBC Finance the bank worked very hard to turn a profit elsewhere. Developing nations held the wolves at bay as those opposed to HSBC’s Household International remain posed to file suit if the bank turned shareholder profits into a loss. Others may still file suit claiming $10.6 billion is …

Cerberus and HSBC Finance Corporation

Cerberus Capital Management LP is one of the largest private equity investment firms in USA. Cerberus Capital Management LP bought 80-percent of Chrysler Group for 7.4-billion dollars. The deal unwinds a 1998 merger. DaimlerChrysler will change its name to Daimler AG. Chrysler will become Chrysler Holding LLC. Under the deal, Daimler will keep a 19.9 …