The Deal Blogs Network

Citigroup Inc.'s stock dipped below $4 a share Friday. "Rumor mongering" was the cause of the stock's cliff dive, according to CEO Vikram Pandit, as executives over at Citi continue to reiterate that its capital position is "very strong." Of course, we've heard that before from the likes of Bear Stearns Cos. and Lehman Brothers Holdings Inc. before they failed, so naturally bloggers and the Street are wary of what the executives are saying and speculating that over the weekend Citigroup will probably get rescued by the U.S. government or could even be acquired....

A disastrous week on Wall Street finished with a nice lift as the Dow Jones Industrial Average jumped 494.13 points to close at 8,046.42 on Friday, somewhat salvaging the nearly 950 points lost for the first four days of the week. The Street appeared to have been positive about new blood in the Treasury Department as reports surfaced Friday that New York Federal Reserve President Timothy Geithner may take over for Henry Paulson once President-elect Barack Obama takes residence at 1600 Pennsylvania Ave....

As far as bankruptcy filings go, BH S&B Holdings LLC's (once known as Steve & Barry's LLC) Thursday petition may have set a record, and a dubious one at that. Yes, the discount clothing store chain is bankrupt once again, a repeat offender that has entered the ignominy of Chapter 22 (not really part of the federal bankruptcy code, but just a colloquialism for a debtor whose filed for Chapter 11 twice)....

House Speaker Nancy Pelosi, D-Calif., and Senate Majority Leader Harry Reid, D-Nev., Friday sent a letter to the Big Three U.S. auto executives, calling on them to "submit a credible restructuring plan that results in a viable industry, with quality jobs, and economic opportunity for the 21st century while protecting taxpayer investments" by Dec. 2. The Capitol Hill leaders said the quality of the plans will determine whether they call Congress back into session the week of Dec. 8 to vote on a bailout of the U.S. car industry....

Senate confirmation of Neil Barofsky to be special inspector general of the Troubled Asset Relief Program is being delayed by resistance from at least one Republican senator. Senate Banking Committee Chairman Chris Dodd, D-Conn., revealed Friday that a "hold" has been placed on  Barofsky's confirmation by at least one senator. Senate rules allow any individual to block a vote on confirmation to a federal post for any reason. The identity of the lawmaker placing the hold is not made public, although it sometimes leaks out or is revealed by the senator placing the hold. Dodd did say that all Democratic...

After NBC News announced that President-elect Barack Obama would tap Timothy Geithner, Federal Reserve Bank of New York president, as his pick for treasury secretary, not only did stocks light up, so too did the blogosphere. Below are collection of some of the posts from around the Web: While The Wall Street Journal ran a short take announcing the news, the paper's Real Time Economics blog was ready for the announcement by offering a lengthy biography of the possible treasury secretary, and a separate post of notable quotes. Politico offered a rather approving post about the pick, noting that Geithner...

Now that InBev SA has closed its $52 billion deal to buy Anheuser-Busch Cos., will we see further beer industry consolidation? In this edition of Inside The Deal, Argus Research Group Inc. securities analyst Erin Ashley Smith says with InBev busy digesting A-B and Molson Coors Brewing Co. and SABMiller plc focused on their joint venture, we could see deal activity driven by smaller craft brands and midlevel independent brands such as Heineken International, which may look to M&A to gain scale and stay competitive. In addition, as demand for brew in emerging markets wanes, Smith tells The Deal's...

Now that InBev SA has closed its $52 billion deal to buy Anheuser-Busch Co., will we see further beer industry consolidation? In this edition of Inside the Deal, Argus Research securities analyst Erin Ashley Smith says with InBev busy digesting A-B and Moslon Coors Brewing Co. and SABMiller focused on...

Although rival personalized radio provider Last.fm Ltd. has been decking out its site with social networking features for years, Pandora Media Inc. has largely stuck to its core strength of...

Add e-mail certification provider Goodmail Systems Inc. to the list of venture-backed companies grateful to find some funds still flowing. Despite having successfully raised two prior rounds and demonstrating a 30-fold increase in business...