Daily Archives: November 7, 2008

Airline Bankruptcies: A Great Tradition (DAL)(LCC)(CAL)(UAUA)

95129cOne of the recurring themes found in the history of the airline industry is the ability of carriers to go into Chapter 11 often emerging with little debt and fewer employees. Aloha Air, ATA, and Alitalia are among well-known carriers that declared bankruptcy this year. There has been much speculation that the Delta (DAL) buyout of Northwest  was to help insure that both could weather higher fuel prices and falling traffic during the recession.

Read More »

Posted on: November 7, 2008 – 4:00 am in Airlines, , , ,

A Post-Election Shift Against Free Trade?

By John Tamny, Real Clear Markets

In his Tract on Monetary Reform, John Maynard Keynes made the essential point that when money is debased, enterprise is discredited, and trade barriers soon reveal themselves. Having witnessed the worldwide monetary errors of the ’20s that led to economic isolationism in the ’30s, Keynes knew well the importance of the 1944 Bretton Woods monetary standard, of which he was a chief architect.

Read more…

Posted on: November 7, 2008 – 3:54 am in Uncategorized

Media Digest 11/7/2008 Reuters, WSJ, NYTimes, FT, Bloomberg

NewspaperAccording to Reuters, the government is set to announced the country’s tenth straight month of jobs losses.

Reuters reports that Chrysler is burning through it cash quickly and the company may have to be broken up.

Reuters reports that GM (GM) and Ford (F) investors are preparing for steep losses.

Read More »

Posted on: November 7, 2008 – 3:52 am in Press Digest, , , , , , , , , , , ,

Asia Markets And Europe Open 11/7/2008 (TM)(HBC)

BritMarkets in Asia were mixed.

The Nikkei fell 3.6% to 8,583. Shares in Toyota (TM) fell on a profit warning.

The Hang Seng rose 3.3% to 14,238. HSBC (HBC) rose.

The Shanghai Composite moved higher by 1.8% to 1,748.

At the open the FTSE was up 1.1% to 4,318. The CAC 40 was up .9% to 3,419. The Dax was higher .8% to 3,841.

Data from Reuters.

Douglas A. McIntyre

Posted on: November 7, 2008 – 3:19 am in International Markets, ,