The GM IPO Loses Its Window
There are more rumors that GM will have an IPO before the end of the year. The latest gossip is that the Treasury will sell 20% of its shares in the process, get taxpayers…
All Work
Douglas A. McIntyre
Looking Back, The Fed Never Cut Enough
The housing market is in trouble, and perhaps enough trouble that it will be the one sector of the economy that will face a double-dip recession. The idea that housing is related to unemployment…
Media Digest 6/24/2010 Reuters, WSJ, NYTimes, FT, Bloomberg
Reuters: BP plc (NYSE: BP) began to siphon oil again. Reuters: The Wall St. reform bill is almost done. Reuters: Venezuela will nationalize some oil rigs owned by a US company. Reuters: The Fed…
YouTube Crushes Viacom In Court
According to Google: Today, the court granted our motion for summary judgment in Viacom’s lawsuit with YouTube. This means that the court has decided that YouTube is protected by the safe harbor of the…
Deepwater Horizon: Leak Increases
Several media outlets are reported another disaster at the Deepwater Horizon locations. MSNBC: Oil was again gushing uncontrollably from the BP spill site on Wednesday after the company was forced to remove the containment…
America’s Wealthiest CEOs To Renew Hiring
The chief executives of the nation’s most prosperous companies, members of The Business Round Table, said that they will begin hiring again. Put another way, 39% of them will add employees in the next…
More Signs Of Housing Double Dip
The Census Bureau and the Department of Housing and Urban Development reported more data indicating a second housing collapse is underway. Sales of new single-family homes were a seasonably adjusted 300,000 in May, down…
10 Law Schools Found Inflating Student Grades
By John Hudson Law school just isn’t what it used to be. According to The New York Times, law schools across the country are inflating students’ grades to increase their job prospects after graduation.…
Today’s Best Market Rumors (6/23/2010)
Updated throughout the day. Video site Hulu is in talks to carry content from CBS Corp. (NYSE: CBS), Viacom Inc. (NYSE: VIA), and Time Warner Inc. (NYSE: TWX). Lloyd Blankfein of Goldman Sachs Group…
The Twitter-24/7 Wall St. Stock Market Report 6.23.2010 The Wisdom Of Crowds
Twitter has, by most estimates, 100 million members, which makes it one of the largest social networks in the world. All major media companies are on Twitter and some have more than one million…
As Toyota And Honda Face More Strikes, Their Market Shares Are Threatened
At the depth of the recession when there was a falling market for new cars, strikes were almost welcome in the US and EU. Most car companies had so much inventory that a break…
The UK Austerity Plan And A Voter Revolt
UK unions may not take to the streets to protest the new austerity budget the way the Greeks or Spanish have. Or, they might. George Osborne, the finance minister, proposed a plan to wring…
TARP: A Profit For Taxpayers?
Treasury Secretary Tim Geithner made a number of important observations during his testimony before the Congressional Oversight Committee. The most outstanding of these is how much money from the TARP investment has been returned…
The Fifteen Nations With The Highest Unemployment In The World
The global unemployment problem is so huge that the total number of jobless in the ten most populous nations in the world totals 1.1 billion. That is only slightly smaller than the population of…
Media Digest 5/23/2010 Reuters, WSJ, NYTimes, FT, Bloomberg
Reuters: Auto dealers will not be subject to new financial regulations. Reuters: The FCC said AT&T Inc. (NYSE: T) could buy assets from Verizon Communications Inc. (NYSE: VZ). Reuters: Firm iFixit says the Apple…
Number Of Millionaires Hit 10 Million In 2009, No Word On Poor
According to the Merrill Lynch/ CapGemini “State of the World’s Wealth” report, the number of high net worth individuals rose 17.1% last year to 10 million. Their total assets combined increased 18.9% to $39…
Drilling Moratorium Killed By Court, Obama Plan Rejected
The US District Court for the Eastern District of Louisiana ruled that the six month moratorium set for deepwater drilling would cause irretrievable loss to the plaintiffs and irreparable harm to their business. Hornbeck…
Cracks Found in Boeing 767 Engine Pylons
Since its introduction in 1982, the 767 from Boeing Co. (NYSE:BA) has accounted for sales of more than 1,000 planes. Recent discovery of cracks in the engine pylons, which attach the engine to the…
Apple Sells Three Million iPads–Could Be A $5 Billion Product In 2010
Apple today announced that it sold its three millionth iPad yesterday, just 80 days after its introduction in the US. iPad is a revolutionary and magical product that allows users to connect with their…
Existing Home Sales Plummet
In another sign that HAMP and low interest rates are not helping home sales, The National Association of Realtors reported that existing homes sales dropped in May. Analysts had expected an increase. Housing market…