morning call ... 05 18 2007

Fed Chairman, Bernake, -saying the housing market will continue to struggle and the Fedsees ``significant risks'' in the leveraged-buyout boom. -curbs in subprime lending might be a restraint on home purchases -housing market slump won't have a broader effect on economy Blackstone acquire Alliance Data Systems Inc. for $6.76 bil -30% premium, fend off rival offer -third M&A in payment-processing systems -EBITDA grow at 30% compound rate since 2000, 17% cash flow growth, KKR took First Data out $25.6 bil, 8.43% annual growth, 10.23% cash flow growth Welsh, Carson, Anderson & Stowe Inc., Transfirst $683