Hank Paulson almost completely changed the goals of the Treasury’s $700 billion bailout plan. He did so without checking with Congress which appropriated the funds and wanted to check in on Paulson from time-to-time.…
At the beginning of every alarming recession the questiongets raised whether this one is the next "Great Depression". The answer is "yes" for the millions of people who have lostjobs and homes. Their collective…
Over the last year, Google’s (GOOG) shares have dropped from $724.80 to just above $300. There is an argument to be made that they could go much lower, perhaps down to $250. The stock…
On Monday, NRG Energy (NYSE:NRG) management rejected an unsolicited buyout offer from Exelon (NYSE:EXC) that would have exchanged one share of NRG for 0.485 shares of Exelon. Exelon probably didn’t expect a different result…
Penn West Energy Trust (NYSE:PWE) this morning reported third quarter revenues of $1.235 billion and earnings per diluted unit of $2.73. The company stated that the quarterly net income of $1.062 billion was "primarily…
IBM (NYSE: IBM) is going into a new initiative, which is actually an old initiative which had been thought of as dead on arrival: Broadband Over Power Lines. Big Blue is partnering with International…
With oil moving in the direction of $50 a barrel, analysts keep moving their target price for crude lower. The argument is simple. A huge global recession will undermine demand in the nations which…
Best Buy Co., Inc. (NYSE:BBY) has issued an earnings warning this morning. The electronics and home appliances retailer is noting a fall in consumer spending, driven by the recent turmoil in the financial markets…
GM’s (GM) shares are up almost 15% to over $3.25 on new hope and old rumors that the government will bailout the company. Both Obama and a number of members of Congress are pushing…
It may be a way to make money, but it could also change the dynamics of how tens of millions of people get information about the outside world. Qualcomm (QCOM) announced a new PC…
These are the ten early bird analyst upgrades and downgrades we have seen early this morning with two and a half hours until the market opens: Bed Bath & Beyond Raised (BBBY) Raised to…
For some reason, retailers have been thinking that this holiday season would be bad but not brutal. Industry experts have been saying sales might only be up 2% or 3% year-over-year. Someone must have…
Apple’s (AAPL) iPhone does everything. It is a phone, a multimedia player, a web browser, and a washing machine. Now, Apple wants the iPhone to be a gaming platform and it is going to…
Mobile search is supposed to be the next big thing on the internet. Now that PC users have pretty much decided what search service they want to use, the war is moving to handsets.…
Rumors that Goldman Sachs (GS) will have to raise more money have helped push its stock from $123 less than a month ago to $71 yesterday. Wall St. wants to believe that the money…
Henry Paulson’s newest idea for his $700 billion bailout fund is to get private equity firms to invest side-by-side with him in the next series of financial firms that will get money. This will…
Short sellers are still betting that financial shares will fall but they have boldly moved into shares of companies which are considered healthy, those with both good balance sheets and relatively strong earnings prospects.Data…
According to Reuters, Chrysler is running out of time and options for staying in business. Reuters reports that American Express (AXP) is seeking $3.5 billion from the government bailout fund. Reuters writes that Goldman…
Markets in Asia were mixed. The Nikkei fell 1.3% to 8,696. The Hang Seng rose ,4% to 14,093. The Shanghai Composite was up ,8% to 1,859. At the open in Europe, the FTSE rose…
For the management that drove its company into Chapter 11, there is always the option of telling as many people as possible: Harold’s, an 18-state chain of traditional, classic styled ladies and men’s specialty…