The News Review:
- Flowers Soros Michael Dell team to buy IndyMac
- Manufacturing index at 28-year low
- Manufacturing Reports Show Depth of Global Downturn
Flowers Soros Michael Dell team to buy IndyMac
The Associated Press
The Federal Deposit Insurance Corp. said Friday that a holding company led by Steven Mnuchin co-chief executive of private equity firm Dune Capital Management agreed to buy IndyMac in a deal reached Wednesday. The investors have formed a partnership called IMB Management Holdings LP that includes Dell’s investment firm MSD Capital. nce the deal closes the investment group will pour $1. 3 billion in new capital into IndyMac and continue to operate the Pasadena Calif-based bank the FDIC said. “We have assembled a group of experienced private investors in financial services to acquire the former IndyMac and operate it under new management with extensive banking experience” Mnuchin said in a statement. “We will inject significant private capital into IndyMac so that it can once again effectively serve its customers and communities.
Manufacturing index at 28-year low
CNNMoney.com
com) — A key index of the nation’s manufacturing activity fell to a 28-year low in December according to a report released Friday. The Institute for Supply Management a purchasing management group based in Tempe Ariz. said its manufacturing index was 32. That’s the lowest reading since June 1980 when it stood at 30.
Manufacturing Reports Show Depth of Global Downturn
New York Times United States
4 in December down from 36. “Manufacturing activity continued to decline at a rapid rate during the month of December” said Norbert J. re chairman of the Institute for Supply Management Manufacturing Business Survey Committee.
Related from Ytbao: Manufacturing Reports Show Depth of Global Downturn