Business

All that and The Dow closed unchanged...

Good Luck tomorrow!!

The Defense Department on Tuesday denied it tried to quash a 2015 study that found it could save $125 billion in noncombat administrative programs but admitted it has so far only found a small fraction of those savings.

When we commented yesterday morning on the unexpected "going concern" notice in Sears' just filed 10-K which sent the stock crashing, we pointed out the immediate spin provided by Eddie Lampert's distressed retailer which promised that its comeback plan may help alleviate the concerns, “satisfying our estimated liquidity needs 12 months from the issuance of the financial statements", to which however we added the footnote that "the question is what happens when vendors start demanding cash on delivery as concerns about SHLD.'s liquidity concerns continue to grow."

Authored by Irinia Slav via OIlPrice.com,

Just when international oil benchmarks are sliding down, banks are preparing to review the credit lines of U.S. E&Ps. Starting in April, lenders will reassess companies’ creditworthiness on the basis of reserves, production trends, current prices, and future prospects for the industry, among others. Should anything spark worry, banks will be quick to start reducing their exposure, cutting credit lines and arresting producers’ recovery at a crucial point.

Once upon a time Eric Mindich was best known for being the Goldman "wunderkind" - the youngest-ever Goldman partner, who parlayed his reputation into the 2004 launch of his hedge fund Eton Park. Unfortunately for Mindich, after over a decade of running other people's money, the hedge fund apocalypse caught up with the ex-youngest partner, and after a year of losses, which led to an exodus of investors from Mindich’s $12 billion Eton Park Capital Management, which fell about 11% last year, the hedge fund is now said to be returning capital to investors.