MEREDITH WHITNEY: I Have Not Been This Bullish On The US And Equities In My Career

Meredith Whitney was just on CNBC's Closing Bell with Maria Bartiromo and the normally skeptical bank analyst came out as a super-bull for the U.S. economy and equities.

"Would you put new money to work in this market right here?" Bartiromo asked her.

"Yes, absolutely," said Whitney. "I have not been this constructive and bullish on US equities in my career."

Whitney discussed two specific financial stocks that she really liked. First she mentioned Bank of America saying that it came out of last week's Fed stress tests looking better than any other bank on the Street. This is partly because the bank started cutting costs back in 2010 before any other Wall Street bank, said Whitney. The stock has "value, catalyst, and momentum" and she expects it to shoot up another 15% in the coming months.

"This is not sexy stuff... it's all cost cutting it's all operational," she said....

Can't believe your eyes? ? Check out http://www.businessinsider.com/meredith-whitney-bullish-on-us-equities-2013-3

Worst Company In America Round 1: Best Buy Vs. Walmart

The first-round fisticuffs continue with today’s centerpiece bout that pits two big-box boxers to a fight to the death, all for the bloodthirsty enjoyment of WCIA fans around the world.

In one corner, wearing the blue and yellow trunks and trying to sell you an extended warranty, is the Minnesota Mauler — Best Buy! He’s had a rough go of it this year, losing head trainer and CEO Brian “The Dishes Are” Dunn to scandal. Meanwhile, the guy who got Best Buy into the game in the first place, Richard “Richard” Schulze, failed to woo his former pupil back to his gym.

In the other corner, wearing blue and white trunks and taking a smoke break just as you need his assistance, is the Brawler of Bentonville — Walmart!  It may be the nation’s largest retailer, but it never fails to disappoint. Just look at the latest American Customer Satisfaction Index, which had Walmart rated lowest in both the Supermarket and Discount/Dept. Store categories for 2012….

Read all about it at http://consumerist.com/2013/03/19/worst-company-in-america-round-1-best-buy-vs-walmart/

Business CEOs Push To Limit Taxes On Record-Breaking Offshore Profits

At a time when major U.S. corporations have a record amount of cash stashed abroad, a group of influential CEOs want to make it even easier for companies to pay less in U.S. taxes on those profits, HuffPo reports.

The Business Roundtable, a lobbying coalition of business leaders, plans to spend six figures on a campaign aimed at convincing lawmakers to lower the top corporate tax rate to 25 percent from 35 percent and shift to a territorial tax system, according to The Hill. The group argues that the changes would help U.S. companies compete against their foreign counterparts.

A territorial tax system allows businesses to put money overseas and only pay taxes to the foreign country where it’s parked. Currently companies pay U.S. taxes on any overseas profits they bring back home….

How can you not feel sorry for these poor guys?   Go to http://www.huffingtonpost.com/2013/03/19/business-rountable-offshore-profits_n_2906788.html?utm_hp_ref=business

FDIC begins to reveal settlements related to financial crisis

The online posting of previously undisclosed deals comes after a Times story on the regulator's policy of quietly settling claims involving failed banks.  The Federal Deposit Insurance Corp. has begun posting online more than 200 previously undisclosed settlements related to bank failures that accompanied the financial crisis.

The revelations come in response to a Los Angeles Times story last week that examined the FDIC's policy of quietly settling civil claims involving failed banks, sometimes with "no press release" clauses to help bankers avoid embarrassment.

The first three settlements, involving Florida banks that failed in 2008 and 2009, were put online Friday at FDIC.gov. The agency said all such agreements reached from 2007 through 2012 would be posted by the end of the day Monday. Settlements from 2013 were to follow "shortly," with regular updates made thereafter…

Find out more at http://www.latimes.com/business/realestate/la-fi-fdic-settlements-20130319,0,6161684.story

Apple Seen Raising Dividend More Than 50% to $16 Billion

Apple will probably lift its quarterly dividend 56 percent to $4.14 a share, for an annual payout of $15.7 billion, according to the average estimate from six analysts. The resulting yield of 3.6 percent would be higher than 84 percent of the companies in the Standard & Poor’s 500 Index paying dividends. Apple could fund a payout with existing cash flow without using profit from overseas, which can be subject to extra taxes, Gene Munster, an analyst at Piper Jaffray Cos told Bloomberg.

CEO Tim Cook, who a year ago this month reinstated a dividend and announced a $10 billion buyback, faces mounting pressure to take bolder steps to pay out more of Apple’s $137.1 billion in cash and investments. Investors including David Einhorn’s Greenlight Capital Inc. are pushing for more money as growth slows and competition from rivals such as Samsung intensifies....

More?  Check out http://www.bloomberg.com/news/2013-03-18/apple-seen-raising-dividend-more-than-50-to-16-billion.html

Hedgie couple go Hollywood with Frederick’s

Hedge-fund honcho Phil Falcone just got his fashionista wife, Lisa Maria, a hot gift — lingerie chain Frederick’s of Hollywood, according to a NY Post report..

A division of Falcone’s publicly traded Harbinger Group handed over $10 million to the troubled underwear retailer in exchange for the right to control the company, FOH announced.  If it exercises that right, Harbinger’s Five Island Asset Management will appoint a majority of the board.

FOH, founded 66 years ago by Frederick Mellinger, inventor of the push-up bra, was peddling sexy lingerie (left) 30 years before Victoria’s Secret emerged.  FOH operates 118 stores across the country and has been struggling amid sagging sales…

More?  Check out http://www.nypost.com/p/news/business/labor_of_love_CDDen0DLdMfLrwf5dM6FhP

Bank Holiday: Cyprus banks to remain shut Tuesday and Wednesday

Reuters reports that banks in Cyprus will be shut on Tuesday and Wednesday pending a decision by parliament to approve a levy on bank depositors, a government source told Reuters.

"Tuesday and Wednesday are bank holidays," the source said. A decree will be released shortly from the Finance Ministry to this effect, he said.

http://www.reuters.com/article/2013/03/18/us-eurozone-cyprus-banks-idUSBRE92H0M120130318