Everyone has been looking for the next shoe to drop in the financial sector where it ties in with the consumer. Everyone thought this would be credit cards now that primary mortgages,…
Word is starting to get around town that Citigroup (C) has some more trouble coming and it could show up as soon as the next quarter. In this case, Citi’s problems may…
American Express (AXP) decided to pole axe 7,000 poor souls. As is true with most mass firings, it is driving the company’s stock higher, in this case by 5% to just over…
Douglas A. McIntyre To hear some economists talk, the consumer does not have a dime and Christmas will not come this year. No one has cash for anything beyond gas, heating oil, mortgage payments and…
Douglas A. McIntyre According to Reuters, Japan markets were higher on a broad government bailout plan. Reuters reports that Merrill Lynch (MER) will cut 500 trading jobs. Reuters writes that low retailer prices and competition…
Expectations for American Express’s (AXP) earnings were less than modest. Analysts polled by Thomson Reuters, on average, forecast earnings of $.59 for the quarter. Friedman, Billings, Ramsey reported that American Express reported…
Douglas A. McIntyre According to Reuters, a number of retailers are cutting back holiday hiring as they anticipate lower sales. Reuters reports that GM’s (GM) interest in Chrysler’s cash is helping move a merger forward.…
The credit crisis has been so severe that even the largest companies in the US have had trouble getting access to the capital markets. Firms as large as GM (GM), Goodyear, and…
American Express (NYSE: AXP), whose stock is trading at 5-year lows, today tried to reassure Wall Street about its financial situation. It said that this year it has increased its surplus capital…
Douglas A. McIntyre Updated: 31 October 2008 Not all companies and industries will be hit equally hard by the consumer credit crisis. Operations such as Procter & Gamble (PG), McDonald’s (MCD), and Wal-Mart (WMT) may…
Frankly, we think the ban on short sales is not the right way to run a free market. But it doesn’t matter what we think. These are the new rules, but they…
This morning there was a rather long CNBC interview where Becky Quick got to interview Berkshire Hathaway’s (NYSE: BRK-A) Warren Buffett live in Omaha. He noted specifically that the economic weakness was…
The AP announced its list of the top 10 paid CEOs for 2007. The figures were based on "AP’s compensation formula, which adds up salary, perks, bonuses, above-market interest on pay set…
So far there are some changes seen in the holdings of Warren Buffett and Berkshire Hathaway Inc. (NYSE: BRK-A). We have consolidated these into groups and this group is from A to…
Wall St. cheered what seemed to be withering results from Washington Mutual (WM) and Wachovia (WB). WaMu lost $3.3 billion and reserved $3.7 billion to handle loan losses. Wachovia lost $9 billion…
