Santa is for suckers. At least, that is the conventional wisdom
The 2008 holiday season was supposed to be the worst in years, or, perhaps decades. Analysts have forecast retail sales to be down 1% or 2%. Pessimists say those numbers are way off. Even e-commerce, which has grown at double digits for several years, is flat.
GM (GM) would like to get some unsecured debt-holders to swap their crumbling paper for equity in the failing auto marker. It may appear that this would solve a problem, but it creates several more and hardly cures what ails the firm.
Saudi Arabia says OPEC needs to drop production until oil moves back above $75 a barrel. As the largest member in the cartel, it would seem that the kingdom would get its way.
No such luck.
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