Bank of America…Bubble ?…Bankrupt ?….Breaking Down ?….Going ? …Going?….Gone?

A year ago,USA’s biggest bank ,Bank of America quoted at US $ 43.Yesterday is sank below US $ 4  and recovered to close at US $4.84…down 66 % in January alone this year

Market Cap has sunk below US $ 31 Billion…Bloomberg puts it rather tongue in cheek…One share of Bank of America will not even buy you a Big Mac in New York City.The Big Mac Meal costs US $ 6.59 at McDonald’s in midtown Manhattan

Bank of America received a US $ 45 Billion bailout package from the US Government late in 2008….It awaits and expects more

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‘citi never sleeps’…well ! Citigroup should !

Their Ad Tag line says it all ‘ citi never sleeps’…. Well ! Citigroup should !… so that others too can !

Citigroup is facing serious survival issues

It’s share price has dipped below US $ 4, closing on Friday at US $ 3.77, from over US $ 30 just a year ago when Vikram Pandit, of Indian origin, took over to try and save the bank. This past week itself it crashed 60%. On Friday it even reached a low of US $ 3.05 before recovering. It’s now quoted at a fraction of the Book Value and may look very attractive as it does to it’s major shareholder and saviour more than once, Prince Alwaleed bin Talal of Saudi Arabia who announced that he is raising his stake to 5% in Citigroup

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Bhilwara Spinners under Hostile Bid by Ashok Kumar Parmar…Parmar ? Aha ! Suzlon !

Ashok Kumar Parmar has surfaced yet again to make an unsolicited hostile Bid for Bhilwara Spinners.He is making the Mandatory Public Offer to acquire atleast 20% of the Equity of the  Company at Rs 15,having already accumulated 15% of the equity stake…Bhilwara is locked up by 5% on Upper Circuit at Rs 11.99 today on the BSE 

Does this name,Ashok Kumar Parmar, ring a Bell ,other than his efforts to buy into the Videocon Group ?

Is it the same Parmar who made a killing in SUZLON ? If so, all else is Petty Cash for Parmar except for Suzlon

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