Anchor ads are not supported on this page.

4S Ranch Allied Gardens Alpine Baja Balboa Park Bankers Hill Barrio Logan Bay Ho Bay Park Black Mountain Ranch Blossom Valley Bonita Bonsall Borrego Springs Boulevard Campo Cardiff-by-the-Sea Carlsbad Carmel Mountain Carmel Valley Chollas View Chula Vista City College City Heights Clairemont College Area Coronado CSU San Marcos Cuyamaca College Del Cerro Del Mar Descanso Downtown San Diego Eastlake East Village El Cajon Emerald Hills Encanto Encinitas Escondido Fallbrook Fletcher Hills Golden Hill Grant Hill Grantville Grossmont College Guatay Harbor Island Hillcrest Imperial Beach Imperial Valley Jacumba Jamacha-Lomita Jamul Julian Kearny Mesa Kensington La Jolla Lakeside La Mesa Lemon Grove Leucadia Liberty Station Lincoln Acres Lincoln Park Linda Vista Little Italy Logan Heights Mesa College Midway District MiraCosta College Miramar Miramar College Mira Mesa Mission Beach Mission Hills Mission Valley Mountain View Mount Hope Mount Laguna National City Nestor Normal Heights North Park Oak Park Ocean Beach Oceanside Old Town Otay Mesa Pacific Beach Pala Palomar College Palomar Mountain Paradise Hills Pauma Valley Pine Valley Point Loma Point Loma Nazarene Potrero Poway Rainbow Ramona Rancho Bernardo Rancho Penasquitos Rancho San Diego Rancho Santa Fe Rolando San Carlos San Marcos San Onofre Santa Ysabel Santee San Ysidro Scripps Ranch SDSU Serra Mesa Shelltown Shelter Island Sherman Heights Skyline Solana Beach Sorrento Valley Southcrest South Park Southwestern College Spring Valley Stockton Talmadge Temecula Tierrasanta Tijuana UCSD University City University Heights USD Valencia Park Valley Center Vista Warner Springs

RBS Sempra Commodities sale to JP Morgan off the table?

After comments by President Obama on regulating the size of the nation's largest banks, it appears that leading bidder JP Morgan will not purchase the Royal Bank of Scotland share of RBS Sempra Commodities LLC (http://money.cnn.com/news/newsfeeds/articles/djf500/201002011217DOWJONESDJONLINE000318_FORTUNE5.htm).

According to Margot Patrick of Dow Jones Newswires, "The RBS Sempra business now looks likely to be carved up, resulting in a less-straightforward outcome for RBS than if it had fully divested the stake in one go."

Sempra Energy, owner of SDG&E, earlier reported $105 million in quarterly income from its stake in RBS Sempra Commodities, compared to $107 million in the same quarter from SDG&E. There is no indication from Sempra Energy that difficulties in the RBS sale of its share is a factor in Sempra Energy's recent executive re-structuring. In any case, it seems that both SDG&E and Sempra Energy are now spending a lot less on television advertising compared to the last two quarters of 2009.

Previous published comments by Sempra Energy had the company looking forward to a "one go" sale of the RBS share, and that RBS would continue to be involved in financing the commodities venture. At least a portion of Sempra Energy was derived from an Enron commodities trading unit over a decade ago, to become "a new kind of energy company" which "would realize one-third of earnings from our unregulated businesses by 2003" (Simply Stated: Sempra Energy 2000 Annual Report).

It is possible that Sempra Energy might sell off its portion of RBS Sempra Commodities, a comment that surfaced earlier today at TheStreet.com.

Here's something you might be interested in.
Submit a free classified
or view all

Previous article

Nation’s sexy soldiers stage protest at Pendleton in wake of change in Marine uniform policy

Semper WHY?

After comments by President Obama on regulating the size of the nation's largest banks, it appears that leading bidder JP Morgan will not purchase the Royal Bank of Scotland share of RBS Sempra Commodities LLC (http://money.cnn.com/news/newsfeeds/articles/djf500/201002011217DOWJONESDJONLINE000318_FORTUNE5.htm).

According to Margot Patrick of Dow Jones Newswires, "The RBS Sempra business now looks likely to be carved up, resulting in a less-straightforward outcome for RBS than if it had fully divested the stake in one go."

Sempra Energy, owner of SDG&E, earlier reported $105 million in quarterly income from its stake in RBS Sempra Commodities, compared to $107 million in the same quarter from SDG&E. There is no indication from Sempra Energy that difficulties in the RBS sale of its share is a factor in Sempra Energy's recent executive re-structuring. In any case, it seems that both SDG&E and Sempra Energy are now spending a lot less on television advertising compared to the last two quarters of 2009.

Previous published comments by Sempra Energy had the company looking forward to a "one go" sale of the RBS share, and that RBS would continue to be involved in financing the commodities venture. At least a portion of Sempra Energy was derived from an Enron commodities trading unit over a decade ago, to become "a new kind of energy company" which "would realize one-third of earnings from our unregulated businesses by 2003" (Simply Stated: Sempra Energy 2000 Annual Report).

It is possible that Sempra Energy might sell off its portion of RBS Sempra Commodities, a comment that surfaced earlier today at TheStreet.com.

Sponsored
Here's something you might be interested in.
Submit a free classified
or view all
Ask a Hipster — Advice you didn't know you needed Big Screen — Movie commentary Blurt — Music's inside track Booze News — San Diego spirits Classical Music — Immortal beauty Classifieds — Free and easy Cover Stories — Front-page features Drinks All Around — Bartenders' drink recipes Excerpts — Literary and spiritual excerpts Feast! — Food & drink reviews Feature Stories — Local news & stories Fishing Report — What’s getting hooked from ship and shore From the Archives — Spotlight on the past Golden Dreams — Talk of the town The Gonzo Report — Making the musical scene, or at least reporting from it Letters — Our inbox Movies@Home — Local movie buffs share favorites Movie Reviews — Our critics' picks and pans Musician Interviews — Up close with local artists Neighborhood News from Stringers — Hyperlocal news News Ticker — News & politics Obermeyer — San Diego politics illustrated Outdoors — Weekly changes in flora and fauna Overheard in San Diego — Eavesdropping illustrated Poetry — The old and the new Reader Travel — Travel section built by travelers Reading — The hunt for intellectuals Roam-O-Rama — SoCal's best hiking/biking trails San Diego Beer — Inside San Diego suds SD on the QT — Almost factual news Sheep and Goats — Places of worship Special Issues — The best of Street Style — San Diego streets have style Surf Diego — Real stories from those braving the waves Theater — On stage in San Diego this week Tin Fork — Silver spoon alternative Under the Radar — Matt Potter's undercover work Unforgettable — Long-ago San Diego Unreal Estate — San Diego's priciest pads Your Week — Daily event picks
4S Ranch Allied Gardens Alpine Baja Balboa Park Bankers Hill Barrio Logan Bay Ho Bay Park Black Mountain Ranch Blossom Valley Bonita Bonsall Borrego Springs Boulevard Campo Cardiff-by-the-Sea Carlsbad Carmel Mountain Carmel Valley Chollas View Chula Vista City College City Heights Clairemont College Area Coronado CSU San Marcos Cuyamaca College Del Cerro Del Mar Descanso Downtown San Diego Eastlake East Village El Cajon Emerald Hills Encanto Encinitas Escondido Fallbrook Fletcher Hills Golden Hill Grant Hill Grantville Grossmont College Guatay Harbor Island Hillcrest Imperial Beach Imperial Valley Jacumba Jamacha-Lomita Jamul Julian Kearny Mesa Kensington La Jolla Lakeside La Mesa Lemon Grove Leucadia Liberty Station Lincoln Acres Lincoln Park Linda Vista Little Italy Logan Heights Mesa College Midway District MiraCosta College Miramar Miramar College Mira Mesa Mission Beach Mission Hills Mission Valley Mountain View Mount Hope Mount Laguna National City Nestor Normal Heights North Park Oak Park Ocean Beach Oceanside Old Town Otay Mesa Pacific Beach Pala Palomar College Palomar Mountain Paradise Hills Pauma Valley Pine Valley Point Loma Point Loma Nazarene Potrero Poway Rainbow Ramona Rancho Bernardo Rancho Penasquitos Rancho San Diego Rancho Santa Fe Rolando San Carlos San Marcos San Onofre Santa Ysabel Santee San Ysidro Scripps Ranch SDSU Serra Mesa Shelltown Shelter Island Sherman Heights Skyline Solana Beach Sorrento Valley Southcrest South Park Southwestern College Spring Valley Stockton Talmadge Temecula Tierrasanta Tijuana UCSD University City University Heights USD Valencia Park Valley Center Vista Warner Springs
Close

Anchor ads are not supported on this page.