Laidlaw Acquisition Looks a Better Bet Than Us Form Would Suggest Firstgroup
Sunday Herald › February 13, 2007
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Summary
IT was a piece of unfortunate timing for FirstGroup that reports of the Scottish transport company's deal to take over Laidlaw of the US emerged on the same day as headlines that banking group HSBC had issued the first profit warning in its 142-year history.
The HSBC debacle, which has caused a series of management heads to roll, comes from the bank's exposure to the US. Bad debt provisions for the bank's American operations will be dollars-1.76 billion (GBP900 million) higher than estimated two months ago.See the full content of this document
Extract
Laidlaw Acquisition Looks a Better Bet Than Us Form Would Suggest Firstgroup
The bank has admitted that it misjudged the US housing market.
As it said last week, "mistakes were made people ...See the full content of this document
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