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JPMorgan No. 1 Investment Bank Amid New Deals
News from Businessweek:
Investment banking, after five long, hard years of negative or anemic growth, job cuts, pay cuts and public lashings, is on the verge of a comeback. Really, it is — if the data can be believed.
All the economic statistics show that the markets are ripe for a rebound in mergers and acquisitions and equity issuance in 2013, dealmakers say.
Yet Bank of America Corp. (BAC)’s top investment banker is guarded in his forecast, and he isn’t alone, Bloomberg Markets magazine will report in its April issue.
More from the April 2013 issue of Bloomberg Markets:
“I hesitate to be the one that says 2013 will be the year, because invariably it may not,” says Christian Meissner, BofA’s head of global corporate and investment banking. “But I think that we’re pretty close to it changing.”
The past five years haven’t been kind to investment bankers. M&A deal volume fell off a cliff after peaking at $ 4.1 trillion in 2007, according to data compiled by Bloomberg…………… continues on Businessweek
An efficient investment in schools
News from San Francisco Chronicle:
It has often been said that people do not mind paying taxes; it is how government spends their tax dollars that really makes them mad.
California now has a unique opportunity to get it right by wisely investing the $ 1 billion generated annually by the recently passed Proposition 39. With rapidly declining costs for energy efficiency technologies, Californians have a rare opportunity to save energy, create jobs and help our students succeed.
Prop. 39 closed a state tax loophole that allowed out-of-state companies to pay less in taxes. As a result, California’s coffers will receive an additional $ 5 billion over the next five years – half of which is earmarked for energy efficiency projects in schools and other government buildings.
Recent proposals from Gov. Jerry Brown and state Sen. Kevin de León have…………… continues on San Francisco Chronicle
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