Comments on: Credit crunch hits start-ups: Comerica accounts frozen?

By: edhardy622

edhardy622 — Wed, 14 Oct 2009 12:36:33 +0000

My girlfriend bought me a pair of Chestnut color UGG boots short for Christmas.
http://www.uggboots365.co.uk

By: Anthony Ha

Anthony Ha — Sat, 19 Apr 2008 15:02:03 +0000

@Yuri-

We do moderate comment spam, but we definitely need to do a better job of it. I don’t know that that’s a huge problem in this particular story, though — most of the self-promoting comments are borderline acceptable. And by borderline I mean, “not obviously written by robots.”

By: Yuri Ammosov

Yuri Ammosov — Sat, 19 Apr 2008 09:18:33 +0000

Looks like there’s a bit too much advertising in comments. Do you guys ever moderate comment spam?

By: UBS, Merrill-Lynch and others hit start-ups with securities mess » VentureBeat

Fri, 18 Apr 2008 19:20:18 +0000

[...] amount to 75 percent in some cases when a client has other assets with the bank.Several weeks ago, we first reported that bank Comerica had frozen the auction-rate security funds for several start-ups, after those securities turned bad.Merrill [...]

By: ESER.org

ESER.org — Tue, 08 Apr 2008 05:46:57 +0000

As yet another unfortunate investor in these Auction Rate Securities, I’ve been befuddled that I can negotiate a price for durable goods on EBay any day-of-the-week, but I can’t get my stock broker to find a buyer for my Auction Rate Securities — no matter what discount I’m willing to sell at. Every asset has val\
ue, it’s just a matter of discovering the price.

So, we’ve created an electronic secondary market at ESER.org for investors to directly buy and sell Auction Rate Securities. The goal is for ESER.org to enable price discovery for illiquid Auction Rate Securities.

It’s frustrating that none of the banks that have previously back-stopped the auctions of these securities are willing to step in and redeem the issues from their clients.

We’re running ESER.org (Electronic SEcurities Registry) at http://www.eser.org as a public-service: sellers are free to list their Auction Rate Securities for sale; and buyers are free to browse the listings and negotiate pricing and settlement with the sellers.

Hopefully, a vibrant secondary market, such as ESER.org, will allow investors to cash-out of these illiquid Auction Rate Securities.

-ESER.org (Electronic SEcurities Registry): http://www.eser.org

By: StartupNewz.com

StartupNewz.com — Mon, 17 Mar 2008 16:06:32 +0000

Credit crunch hits startups?…

It has been learned that CoAmerica bank has frozen the money market accounts of venture backed startup companies as the credit crunch hits Silicon Valley. Venture Wire is reporting on an informal survey of 60 venture-backed start-ups that found that 2…

By: JP Morgan buys Bear Stearns for almost nothing — to head off financial chaos » VentureBeat

Mon, 17 Mar 2008 04:20:39 +0000

[...] reported on how this is also affecting start-ups, many of which were enticed by things like auction-rate securities, [...]

By: Roundup: Facebook IM?, RateMyCop beats the charges, and more » VentureBeat

Roundup: Facebook IM?, RateMyCop beats the charges, and more » VentureBeat — Sun, 16 Mar 2008 03:27:55 +0000

[...] with investments that were supposed to have high liquidity. A few days ago, we broke news about problems at start-ups banking with Comerica, and now the Wall Street Journal follows with a good overview. Ken Lawler of Battery Ventures says [...]

By: Anthony Ha

Anthony Ha — Fri, 14 Mar 2008 16:19:46 +0000

Mike – OK, looks like you were right, and what we were hearing was wrong. See the update above.

By: Anthony Ha

Anthony Ha — Fri, 14 Mar 2008 01:38:09 +0000

Mike — Could you elaborate? I’ll be the first to admit that I’m not a finance expert, and I’ve been trying to hook up with Comerica for further clarification. But again, what we’ve been hearing (not from Comerica, but from other sources) is that the liquidity issue in the auction rate market has affected Comerica’s money market accounts. Is this just flat-out wrong?

By: mike post

mike post — Fri, 14 Mar 2008 01:32:04 +0000

Anthony- you should understand what you are writing before putting it down on paper. The liquidity issue is with Auction Rate Securities, NOT Comerica’s on balance sheet money market accounts . The article is misleading and inaccurate.

By: Brendan M. O'Connor

Brendan M. O'Connor — Wed, 12 Mar 2008 13:24:29 +0000

For those looking for a place to sell your auction rate securities, I encourage you to visit the Restricted Securities Trading Network (RSTN) at http://www.RestrictedSecurities.net. The RSTN is the largest centralized secondary market for ARS. The firm I work for, Restricted Stock Partners, manages the RSTN. Alternatively, please feel free to call me directly at 212.668.3909 or via email at boconnor@restrictedstockpartners.com with any questions. Regards, Brendan O’Connor

By: Private Equity HUB - peHUB First Read

Private Equity HUB - peHUB First Read — Wed, 12 Mar 2008 11:38:28 +0000

[...] Is the credit crunch now hitting startups? VentureBeat reports that Comerica has frozen money-market accounts of certain VC-backed startups, while TechCrunch [...]

By: Bubble 2.0 ATM machines drying up - Screwdd!

Bubble 2.0 ATM machines drying up - Screwdd! — Wed, 12 Mar 2008 11:13:14 +0000

[...] Snyder didn’t explicitly confirm anything either, but pointed to this New York Times article about problems in the auction-rate note market (where Comerica has invested its money market accounts) and said, “At Comerica, we are working with customers on a case-by-case basis to assist them with their liquidity needs.” (Venture Beat) [...]

By: Anthony Ha

Anthony Ha — Tue, 11 Mar 2008 19:30:35 +0000

Argh, that’s the second time I’ve made that mistake today. Fixed!