THURSDAY MAY 08
Moody’s Comeuppance?

We are happy to announce that even dirty business on Wall Street has an upside: for instance, it really helped companies like Unilever sell a lot more soap in the latest quarter (though we always thought soap was more of a lagging indicator, the Dove-purveyor has shown us up, coming out with sales that topped analyst estimates for the first time in six years). Too bad soap is only now being discovered by some firms – albeit perhaps in limited quantities. Apropos of nothing, the departure of Brian Clarkson, president and chief operating officer of Moody’s, combined with the bond-rating firm’s assurance today that most of the criticism leveled against it in recent months has been “unfounded” certainly made us want to go take a shower. But before you reach for your own bar of soap, read about it for yourself.

May 2008

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