Japanese corporates appear to be super cash rich.
Given the domestic growth continues to be weak, they are scouting for growth elsewhere and taking on shopping spree during market turmoil.
Couple of months ago, Daiichi acquired Ranbaxy at a ridiculous 54% premium price for a global generic business. The Indian founders sold out all of their stakes to a Japanese companies. Why? Bc it is too sweet of a deal to let pass.
Mitsubishi UFJ taking up 20% of MS for more than $8bn, branching their keiretsu out to a major US i-bank.. or should I say commercial bank now? Has Japanese been fared well in US minority shareholdership?
Nomura is acquiring Lehman's Asia business, including JP and AU, which indeed an exceptionally good news to Lehman's employees....no layoff, no restructuring (as yet), the best part is - they will receive a bonus same as last year! no biggie, just 300mn for 3000 staff, 100K per person on average, SWEET! They have a lot of cash on hand anyway might as well spend on the existing staff rather than paying market rate for new hires. While Bear staff all left to look for jobs, ML may see sizable layoff, Lehman people went out to celebrate the takeover.
On a side note, although I don't concord with others that HK cabs are super cheap (if that's the case why there are so many empty cabs running on the street), ANOTHER 2 bucks raise in the base fare?! What the heck, I am feeling the pinch again..probably should consider moving out of HV or be more discipline with time management... or should I start carpooling?
Follow JoJo
My Photos
2 comments:
are you sure? i think nomura is paying ~$300mn for the entire asia ex-j business? even giving out HK$300mn bonus would be a lot... oh well, i heard lehman bonus sucked last year and almost next to nothing, so paying same amount this year probably means ZERO! hahaha... i'm so glad i didn't go last year
they gauranteed the senior mgt of Lehman two years of bonus and no layoff in two years.. and they were paid pretty well last year.
The lower level people are the worst off since they were not given that kind of package.
Nomura people may be at risk though.. there will still be duplication the company may take this opportunity to let go some of the existing lower quaity staff.
Post a Comment