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Monthly Archives: April 2009

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IMF Says Toxic Asset Damage Getting Much Worse

Posted: April 7, 2009 at 6:16 am

Every time the IMF issues an estimate for the cost of the losses from toxic assets at the world's financial institutions, the numbers get worse. According to the Times, ";Toxic debts racked ...
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GM’s (GM) Future May Ride On Two Wheels And Not Four

Posted: April 7, 2009 at 5:15 am

GM's (GM) domestic car sales are off almost 50% this year, so selling cars is no longer the company's strength. Since it is an auto firm, coming up with an ...
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Freezing The Pay Of Everyone In America

Posted: April 7, 2009 at 5:00 am

One alternative path to firing people used by some companies is to freeze the pay of  employees. In some cases firms have such tremendous revenue problems that they lay off people ...
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Another Setback But Blockbuster (BBI) Is Likely To Survive

Posted: April 7, 2009 at 4:45 am

Blockbuster's (BBI) auditors gave the company a "going concern" letter which is often a kiss of death. The document is a way for the accounting firm to say the operation is ...
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Making The Markets Nervous: Annual Federal Deficit Already $1 Trillion

Posted: April 7, 2009 at 4:30 am

The Congressional Budget Office issued its estimate for the deficit created in the federal government's fiscal first half, which ended on March 31. The number was $953 billion. Depending on ...
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Capitalism Finally Takes Root In Russia

Posted: April 7, 2009 at 3:55 am

The people in a perfect society should all earn nothing, or alternatively, should all earn the same amount, depending on the interpretation of the most important Communist manifestos. The exception ...
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Banks Are Worth What Their Stock Prices Say They Are

Posted: April 7, 2009 at 3:46 am

Several prominent bank analysts came out with statements yesterday saying that the largest US financial firms would post more heavy losses and that their accounting methods would obscure the worst ...
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Media Digest 4/7/2009 Reuters, WSJ, NYTimes, FT, Bloomberg

Posted: April 7, 2009 at 2:56 am

According to Reuters, some members of Congress were unhappy with Defense budget cuts. Reuters reports that Americans are more optimistic about the economy since Obama came into office, according to ...
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Asia Market And Europe Open 4/7/2009

Posted: April 7, 2009 at 2:23 am

Markets in Asia were narrowly mixed. The Nikkei fell .2% to 8,833. The Hang Seng was off .5% to 14,917. The Shanghai Composite rose .8% to 2,435. At the open ...
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PetroQuest Energy Files To Raise Cash (PQ)

Posted: April 6, 2009 at 6:21 pm

PetroQuest Energy Inc. (NYSE: PQ) has filed to raise up to $200 million million in securities in a mixed securities shelf.  Technically, this filing is to replace an existing shelf ...
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Junk Bonds To Get Their “Junk” Back

Posted: April 6, 2009 at 1:06 pm

Three years when credit was plentiful and corporate earnings tended to be good because of a booming economy, junk bonds were considers a relatively safe investment. Over the next five ...
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Another New Apple (AAPL) iPhone Sighting

Posted: April 6, 2009 at 11:53 am

The fate of Apple's (AAPL) shares seems to rise and fall based on rumors that the company will release a new version of its iPhone. Apple's shares are up 35% ...
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The Political Risk of Toxic Assets

Posted: April 6, 2009 at 10:55 am

The administration’s plan is attractive, but are there too many strings attached? By Ian Bremmer and Sean West  of The Big Money Last week, markets bounced 7 percent the day ...
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Proxy Battle Begins in Fertilizer Deal (AGU, CF, TRA)

Posted: April 6, 2009 at 9:39 am

Canadian fertilizer giant Agrium Inc. (NYSE:AGU) today filed its definitive proxy materials with the SEC in its effort to acquire CF Industries Holdings, Inc. (NYSE:CF)  Agrium is asking CF shareholders ...
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Royal Gold Buys into Another Mine (RGLD, TCK)

Posted: April 6, 2009 at 9:05 am

Royal Gold, Inc. (NASDAQ:RGLD) has agreed to purchase an interest in a Chilean gold mine owned by Teck Cominco Ltd. (NYSE:TCK) for $100 million in cash and about 4.5 million ...
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