When Joblessness Becomes Homelessness
If the current recession is the longest since WWII and continues for another year, one of its most frightening characteristics is that the number of people whose jobless benefits run out is going to…
All Work
Douglas A. McIntyre
Media Digest 4/6/2009 Reuters, WSJ, NYTimes, FT, Bloomberg
According to Reuters, HSBC (HBC) has a successful rights offering to raise $18.9 billion. Reuters reports that a deal for IBM (IBM) to by Sun (JAVA) is near collapse. Reuters writes that Geithner denies…
Asia Markets And Europe Open 4/6/2009
Markets in Asia were mostly higher. The Nikkei rose 1.2% to 8,858. The Hang Seng was up 2% to 14,831. The Shangha Composite fell .2% to 2,420. At the open, in Europe, the FTSE…
Sun (JAVA) Heads Back Toward $5
It appears that IBM (IBM) may be walking out on its deal to buy Sun Microsystems, or could just be playing hardball to lower the price it is willing to pay. In either case,…
Rumor Of The Day: Goldman Sachs (GS) Will Raise Capital
There are more rumors that Goldman Sachs (GS) will pay back its TARP funds. The latest comes from the London Telegraph which says that Goldman may announce that it is raising money when it releases…
When Do The Jobless Become The Homeless?
The federal government cannot give financial assistance to each person who losses a job for a years after they are terminated. It would cost too much. So, the current limit is 59 weeks. What…
The Congressional Budget Office Says Taxpayers Are Shafted
The cost of the TARP is going to be more expensive than originally budgeted and the taxpayer will be left holding the bag. What a surprise. The government will underestimate the costs of a…
Fannie & Freddie Play AIG Bonus Game, Truth or Dare? (AIG, FNM, FRE)
Did you think that American International Group Inc. (NYSE: AIG) was a cluster-something on the bonus front? The ‘retention’ bonuses of some $210 million that Fannie Mae (NYSE: FNM) and Freddie Mac (NYSE: FRE)…
The New York Times Threatens To Fold The Boston Globe
The New York Times Company (NYT) has threatened to close The Boston Globe, one of the papers on the 24/7 Wall St “Ten Major Newspapers The Will Fold Or Go Digital” list. According to…
First Solar Sees Less Dilution For Acquisition (FSLR)
First Solar, Inc. (NASDAQ: FSLR) has completed its acquisition of OptiSolar’s photovoltaic project pipeline. The company said that it expects to construct the solar power plants developed under the pipeline over the next several…
The Anatomy of a Web Advertising Scam
Investigating the people behind those sketchy flat-stomach ads. By Chadwick Matlin for The Big Money The Internet wants me to have a flat stomach—and it wants me to have it for free. Over the…
Less Natural Gas Drilling, More LNG Imports? (BHI, LNG, BP, CHK, XTO)
We’ve been closely tracking the weekly rig counts published by Baker Hughes Inc. (NYSE:BHI) for a while now. Drilling for oil has slowed significantly in the US, and drilling for natural gas has slowed…
Legalized Medical Marijuana Company Now Public Stock, Really (CVIV)
If you thought that the legalized marijuana for medicinal purposes was a controversial, imagine how controversial it would be if a company was public in the sector of legalized marijuana. Forget the “if” in…
Apple (AAPL) Without Jobs Now Seeing A Six-Month High
Apple Inc. (Nasdaq: AAPL) today is hitting levels not seen since October. Apple today crossed the $114 level and is up over 33% for 2009. Apple’s stock sold off in the middle of January…
NRG is the Company of ‘No’ (NRG, EXC, RRI)
NRG Energy Inc. (NYSE:NRG) has sent a long letter to shareholders counseling them not to vote for the new slate of directors being proposed by Exelon Corporation (NYSE:EXC). NRG notes that the price of…
Kimco’s Huge Stock Offering (KIM)
Kimco Realty Corporation (NYSE: KIM) has priced its huge secondary offering of common stock. The size was a lofty 91,500,000 shares at a price of $7.10 per share. Shares closed yesterday at $7.49 and…
Double-Digit Unemployment, Now ‘When’ Rather Than ‘If’
Unemployment is said to be a lagging indicator. Even if we had not been calling for higher rates than this for quite some time, the data on employment is bad enough that you have…
Top Analyst Downgrades (AKAM, BMY, KMX, ESLR, GOL, HGSI, MON, SCHN, TDC, UA, DIS, WFMI)
These are the top pre-market analyst downgrades and negative research calls we have seen from Wall Street early this Friday morning: Akamai Tech (AKAM) Cut to Hold at Citigroup. Bristol-Myers Squibb (BMY) Cut to…
Top Analyst Upgrades (STD, DVN, ELN, RIMM, TJX, VOD)
These are some of the top pre-market analyst upgrades and positive research calls we have seen early this Friday morning: Banco Santander (STD) Raised to Outperform at KBW. Devon Energy (DVN) Raised to Outperform…
Letting Banks Use TARP Money To Make Profits On Other Banks
A lot of people and members of Congress are upset that banks that took TARP money may buy toxic assets from other banks. There does not seem to be any problem with the arrangement.…