The wonderful and extraordinary thing about big federal spending programs is that the government does not have enough people to keep track of how the money is used. Grifters are everywhere. So…
Analysts continue to slash estimates on bank stocks. Today it was Bank of America’s (BAC) turn. Citigroup lowered its estimates and price target on Bank of America due to marks and higher…
Douglas A. McIntyre According to Reuters, JP Morgan (JPM), Bank of America (BAC), and Merrill Lynch (MER) will cut a total of almost 20,000 jobs. Reuters reports that Boeing (BA) will sign a new deal…
24/7 Wall St. will name its annual CEO of the Year next week. The executive will be picked from a field of ten which we will profile this week. The CEOs are…
According to Reuters, markets in Asia and Europe ross about 2% Reuters reports that the downturn in the Chinese economy deepened. Reuters reports that BHP Billiton (BHP) was gloomy about its prospects…
It was just this last summer that the heads of Merrill Lynch (MER), Lehman, and Morgan Stanley (MS) said the financial crisis had peaked and its energy was dissipating. It would be…
The Paulson/Bernanke bailout is now spreading across the financial system like a prairie fire in a stiff wind. AIG (AIG) got one deal. A number of banks got a piece of another…
Foot Locker (FL) Cuts earnings outlook. Falls to $3.65 from 52-week high of $18.19. Citgroup (C) Still concerns about whether government will have to step in to stop bleeding. Down to $3.05…
Verifone (PAY) JP Morgan cut rating. Drops to $2.38 from 52-week high of $48.61. Suntech (STP) Forecast below Wall St. estimates. Down to $5.60 from 52-week high of $90. Jones Apparel (JNY)…
Now that his company has its bailout cash from Henry Paulson, Bank of America (BAC) CEO Kenneth Lewis can say whatever he wants about the government. BAC has probably spent all the…
Douglas A. McIntyre According to Reuters, Japan exports hit their lowest level since 2002. Reuters writes that hopes for an auto bailout in this session of Congress are poor. Reuters reports that the US is…
According to Reuters, Yahoo! (YHOO) CEO Yang resigned. Reuters reports that Japan expects a long recession. Reuters writes that Congress will take a first look at a new auto bailout bill. Reuters…
These are some of the changes we have seen in the holdings of Warren Buffett’s Berkshire Hathaway Inc. (NYSE: BRK-A). We have consolidated these into groups and this group is alphabetical from…
Perhaps it is a remarkable failure of imagination or just animal panic. A day after Citigroup (C) hit a multi-year low and spent time below $10, CEO Vikram Pandit’s answer was to…
According to Reuters, concerns about the global economy are growing as the G20 nations are meeting. Reuters says that Congress challenged banks on how they would use bailout funds. Reuters reports that…
