GM’s (GM) stock is racing toward $1 where it can join Citigroup (C) and a number of other famous American companies which could not hold that price point. Today GM trades at $1.43, and…
Wells Fargo (WFC) is supposed to be one of the healthier big banks. The market has not treated that way, driving its shares relentlessly lower–down 40% over the last five trading days…
According to Reuters, Obama will start work on getting his healthcare plan passed. Reuters reports that February joblessness is estimated to rise 648,000 for February. Reuters reports that the pick for the…
The Dow Jones industrial average, or DJIA, is perhaps the mostly widely recognized index in the world. When people talk about “The Market” in cabs and in bars, and on the phone,…
Citigroup (G), until recently the largest financial services company in the world, traded below $1 at 11.37 AM today, one more road mark on its trip to a becoming a firm which is essentially…
Douglas A. McIntyre GE (GE) Panic selling over concerns about balance sheet of financial division. Drops to $5.73 from 52-week high of $38.52. Citigroup (C) Worries about nationalization persist. Down to $1.11 from 52-week high…
Two years ago, Citigroup shares traded for $55. Last week, after the government said it might own as much as 36% of the company, the stock dropped to $1.40. Citigroup is about…
According to Reuters, too much dependence on government aid could cause a second recession when the companies are forced to stand on their own. Reuters reports that Obama is considering funds to…
Citigroup (C) Still fears of nationalization or a larger bailout. Falls to $1.15. from a 52-week high of $27.35. GE (GE) Market not comforted that GE’s financial services are is not in…
HSBC (HBC) proved two things as it raised just over $17 billion to offset substantial losses. The first is that a money center bank can still raise capital, even in a tight…
Douglas A. McIntyre On reading Warren Buffett’s much-anticipated letter to Berkshire Hathaway’s shareholders, one can’t avoid being struck by his faith in the ability of the American people to overcome adversity and to move the…
Citigroup (C) Government will take a 36% share. Drops to $1.42 from 52-week high of $27.35. AMBAC Inc (ABK) Market hates it earnings. Drop to $.56 from 52-week high of $12.37. Synta…
Whatever stock options Vikram Pandit, his management team and board have are almost certainly worthless now. News that the federal government will own 36% of Citi’s common shares through a complex deal…
Douglas A. McIntyre Citigroup (C) may not have picked up much in its deal with the federal government. It shareholders will get crammed down. Tax payers will own more of Citi, about 36%, which is not…
Douglas A. McIntyre It is a corporate governance issue as much as anything else. Can one shareholder essentially “fire” most of a public company’s board without the approval of other shareholders? That it what the…
Douglas A. McIntyre 