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Leigh Baldwin & Co.

112 Albany Street, Cazenovia, NY 13035 | Phone: (315) 655-2964 Toll Free: 1-800-659-8044

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Diamonds and Dogs

Zombie Stocks

Zombie Stocks Dead in the Water

A year ago, who would have thought that the US government would have a pay czar controlling the pay of some of America's formerly great companies? Kenneth Feinberg, appointed by the Treasury Department, is the pay czar in charge of letting the lovable loser firms that have taken government aide, know what their top people can be paid. The stocks of these companies (think Citigroup (C), AIG, and BankAmerica (BAC), are done, over and out. They may rally here and there with the market, but for the most part, these companies will not be able to attract the best and the brightest as long as Uncle Sam is controlling the payroll and they will be crushed by competition like Goldman et al. Wall Street is all about the survival of the fittest and the fittest will stay clear of the zombie government owned firms. Maybe so should you.
Diamonds and Dogs market commentary is a journal of daily observations on anything that happens to be of interest to our author. Obviously, our primary focus is the stock market and world economic events, but for this page we have no defined topics. We want this page to be dedicated to the interests, concerns, and possibly to the financial gain of our clients and friends. All comments contained herein are for informational purposes only, and should not be considered as a solicitation to buy or sell any security. The firm does not guarantee the accuracy or completeness of the information or make any warranties regarding results from it's usage.