An Economics Lesson From Norway
Norway has something to teach almost every other nation in the developed world. Unemployment in the country moved to 2.8% last month. That is very high by Norway’s standards. Last year the figure was…
All Work
Douglas A. McIntyre
Geithner Says He Can Fire Bank CEOs
Secretary Geithner has been late to every party he has attended since talking over Treasury. His plans have often been tardy and full of holes. He seemed to redeem himself with the new public/private…
China Working On Leading Global Car Industry
Two years ago, the Chinese were viewed as car industry amateurs. Most of their design and manufacturing skills came from joint venture partners in the US and Europe. Chinese cars where shown at the…
What If The G-20 Summit Works?
What if the G-20 is like the stock market four weeks ago? No one thought the market would go up over 20% in less than five weeks. Many people did not think it would…
Media Digest 4/2/2009 Reuters, WSJ, NYTimes, FT, Bloomberg
According to Reuters, the G-20 began the work of addressing the economic crisis. Reuters reports that US auto sales may have bottomed. Reuters reports that the House backed new laws for pay curbs at…
The “Green” Hypocrisy: America’s Corporate Environment Champions Pollute The World
“Green is green as in the color of money” – Brand director of General Electric, Brandweek, July 26, 2006 “Greenwashing” is the act of misleading the public regarding the environmental practices of a company…
24/7 Wall St. G-20 Primer
This year’s first G-20, or the Group of Twenty, meeting being held in the United Kingdom is getting more coverage than perhaps any other recent G-20 meeting. These are historic times. President Obama set…
March Car Sales: When Better Is Awful (GM)(F)(TMC)(HMC)
Like a number of other numbers which have come out in the last month, US light vehicle sales were slightly better than expected. Tell that to the US car companies which are still losing…
Moody’s Now Calls J.C.Penney Junk (JCP)
Moody’s Investors Service put the heat on the credit ratings of J.C. Penney Co. (NYSE: JCP). While a cut in the retail sector may not be anything shocking in this climate, this downgrade took…
New Application Allows RIM (RIMM) Blackberry To Become A TV
Video software company QuickPlay Media has launched a new application that will allow users to watch full-length TV on a RIM (RIMM) BlackBerry. According to the company,”The monthly subscription fee-based service will be available…
I Just Called To Say I Own You
Apple, Google and Microsoft are muscling into the mobile phone market. What’s really at stake? By Daniel Stacey of The Big Money This month’s launch of Google Voice, an application that offers U.S. customers…
More ‘Going Concern’ Notes Hitting Companies (AWBC, AHR, BWTR, CHCI, DCGN, GST, MLP, OXGN, TMI, XCR)
This might be a record year for auditor “going concern” notes being included in annual report filings with the SEC. If it isn’t a record, it sure feels like it. This note in an…
Newmont Divesting Indonesian Mining Interest (NEM, FCX, CVX)
A ruling by an international arbitration court will lead to the divestiture by Newmont Mining Corp. (NYSE:NEM) of a portion of the company’s stake in an Indonesian mining firm. Newmont has 180 days to…
NRG-Reliant, When A Deal Looks Done (NRG, RRI, EXC)
The US Department of Justice and the Federal Trade Commission have granted NRG Energy, Inc. (NYSE:NRG) early termination of the Hart-Scott-Rodino Act waiting period related to NRG’s proposed acquisition of the Texas retail business…
Evidence That Manufacturing Declines Are Moderating
The Institute for Supply Management has issued some data for March showing that the decline in manufacturing has at least moderated. The report came in at 36.3, which is above estimates of 35.0 and…
NiSource Buying Back Debt (NI)
NiSource Inc. (NYSE:NI) looks to be tendering some of its debt. The company announced a tender offer after yesterday’s close for up to $300 million of its 7.875% Notes due 2010. That’s not so…
Wachovia Downgrades Boeing (BA) To Market Perform; Defense Growth Is Unlikely To Offset Commercial
Wachovia downgrades Boeing Company (NYSE: BA) to Market Perform. Lowers valuation range from $51-54 to $38- $40. Wachovia analyst says, “Given the declines in traffic, financing and overall aircraft demand, we expect BA to announce…
Some Good News for Solar Industry? (SPIR, FSLR, SOLF)
Spire Corporation (NASDAQ:SPIR) is a small-cap supplier of turnkey solar factories and capital equipment. Its products are used to manufacture PV modules and cells. The company reported its fourth quarter and full-year results after…
Palm Dances Around April Fools With ‘Real’ Announcement (PALM)
Palm Inc. (NASDAQ: PALM) is about to make an announcement later today, if the company can keep from dancing around how it wanted to make an April Fool’s joke on the company blog. It…
March Job Losses Are Huge, National Unemployment Could Hit 8.5%
Based on ADP numbers for private sector lay-offs, the official government unemployment numbers could set an all-time record. ADP says that payrolls dropped by 742,000 in March. The revised figure for February was 709,000.…