Wall Street Addict

Mary Thomson began with a story regarding Stanley O'Neil at risk for losing is position as CEO of Merrill. Laurence Fink may be up next to replace him. Michael Mayo was next, saying that it was quite possible for Merrill to not see an improvement, solely by replacing the CEO. Stock price performance from beginning to present day, is regarded as high priority of judgment for next CEO. O'Neil's severance package is estimated at $159 million, says Michael Kelly of CT Partners. His package is dependant on rank, profit, and performance of stock price during the entirety of his tenure with Merrill beginning in Dec. 2002.
John Merrill from Tanglewood Corporate Management was next, saying energy commodities are making stocks soar higher. Foreign investments and tech are his picks for the day.
Global recession was the next topic with Tony Crescenzi. He says rising level of Baltic shipping index is a negative for treasuries, and positive for world economy.
Warren Buffet and Chinas booming market was next topic. He says top five performing IPO's are from China. Zachary Karaber from Fred Alger Management says Chinese investments in technological commodities are rising. He still is negative on prospects for U.S dollar. He says buying stocks at moderate prices is not a risk, it is a smart move. Visit buffetwatch.cnbc.com for more.
Rick Santelli with the Bond Report was next. Fed Funds at 3.5% will be needed to stabilize economic growth.
Dennis Kneale was next, reporting on his interview with Chrysler boss; Nardelli. Nardelli says he can sympathize with Stan O'Neil, about consumers identifying with poster boys for corporate overcompensation. Complete interview at cnbc.com.
Jim Cramer with stop trading was next. He says "Baltic trade index is the barometer of the world." And he loves Diana. He says food stocks are doing well. He says sell General Mills and Kellogg. Also, Cleveland Cliffs on Fire (CLF) Could be bought at a 50% premium. He disagrees with any compensation package given to Stan O'Neil.
John Harwood, an electoral news correspondent, says you can keep track 2008 election news at politcalcapital.cnbc.com

Labels: CNBC, Erin Burnett, Jim Cramer's Stop Trading, MER, Street Signs, street signs recap, Warren Buffett