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financial update
Tuesday 10-07-2008 3:55pm ET
Citigroup was said to be buying Wachovia with the help of the U.S. government. Citigroup had agreed to buy Wachovia's assets for $2.1 billion in a deal which was brokered by the Federal Deposit Insurance Corp. But, then on Friday, Wells Fargo upped the offer by saying they'd buy Wachovia for $15.1 billion and the deal would not require any government support. This lead Citigroup and Wells Fargo into both state and federal court this weekend in a battle over Wachovia. Citigroup sued Wachovia, Wells Fargo, and the directors of both companies for interfering with their planned takeover of Wachovia. They're seeking more than $60 billion in damages. The complaint says it's seeking more than $20 billion in compensatory damages and more than $40 billion in punitive damages from Wells Fargo for tortious interference. Well now new reports are stating that Citigroup, Wachovia, and Wells Fargo have all agreed to a standstill of all formal litigation while a decision is trying to be reached regarding the fate of Wachovia. The standstill agreement will end at noon this Wednesday, unless it gets extended. Citigroup spokesman Michael Hanrettasaid in a statement, "We are pleased to participate with the Federal Reserve Board in a fair-minded, good faith process to achieve a prompt and successful outcome." Frederick Cannon, an analyst at Keefe, Bruyette & Woods, said, "If this goes into a protracted legal battle, everybody loses. Wachovia is big enough that it would be a negative for the financial system. Given that situation, we will see a resolution pretty quickly."
new issue of elle to check out if you are a kidman or urban fan
Monday 10-06-2008 3:30pm ET
A very Photoshopped Nicole Kidman gets the two cover treatment for the new issue of Elle magazine. The red dress cover is quite exquisite! In the interview, the new mom to Sunday Roast opens up about life and her loves - including ex Tom Cruise. Here are some HIGHlights: On whether or not she felt she married Tom Cruise too young: “Would I want my kids to get married at that age? No! But that was an extraordinary thing for me. [Tom] taught me an enormous amount – as a girl into a woman. Absolutely, I would do it again.” On becoming a mother later in life: “At 41, it’s a more painful love. I look at that little girl, and I’m, like, Oh, no, what’s going to happen? It’s almost like my heart is stretching; I’m feeling all these muscles stretch with emotion. It’s a beautiful love but there’s a lot of fear and pain for her life, and for Bella’s and Connor’s life. I like to believe that nothing was stopping Sunday from coming into the world.” On natural childbirth: “It was the most beautiful thing to go through with him [husband Keith Urban]. I had a great team of women, too. At one point there were nine women in the room and Keith.” On husband Keith Urban: “He’s the greatest man besides my dad I’ve ever met. He’s loyal and he’s a soul searcher. He’ll kill me for…He’s very very private.” On living in Tennessee: “There’s something to be said for going back to a simple form of living – nature and family. There’s something very…there’s safety in that.”
interesting stuff
Wednesday 10-01-2008 6:42pm ET
Kellie Pickler is heading back to Iraq. Pickler was part of a USO tour that entertained troops last Christmas. She told "Live With Regis and Kelly" that she's returning with the USO some time in the future. How do you get kids to vote? Just say no. Leonardo DiCaprio, Halle Berry, Jennifer Aniston, Tobey Maguire, Eva Longoria Parker and other stars are using reverse psychology to get young people into voting booths on election day. In a new public service announcement that hit YouTube and other online outlets Wednesday, DiCaprio says: "Please — just don't vote." Others echo his plea: "Don't vote." But the stars soon twist the message: Voting is a civic duty and the only way to effect change. "I mean, seriously, ... after this whole video — if you're not gonna vote, I don't even know what to say. ... You know you have to vote," says DiCaprio, who produced the PSA. Also appearing: Ellen DeGeneres, Forest Whitaker, Dustin Hoffman, Demi Moore, Sarah Silverman, Jonah Hill, Ashton Kutcher, Courteney Cox, Laura Linney, Natalie Portman, Jamie Foxx, Usher, Kyra Sedgwick and will.i.am.
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