Charles Bobrinskoy, vice chairman of Ariel Capital Management LLC, which oversees $13 billion, talks with Bloomberg's Julie Hyman and Ellen Braitman from Chicago about JPMorgan Chase & Co.'s first-quarter earnings reported today and its agreement to acquire Bear Stearns Cos. JPMorgan, the third-biggest U.S. bank, said net income fell 50 percent to $2.37 billion, or 68 cents a share, after $5.1 billion of writedowns and provisions linked to subprime mortgages, bad home-equity loans and financing for leveraged buyouts.
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Added: Apr 16, 2008 |
| Category: Business |
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