Citigroup’s (C) CEO, Vikram Pandit, wasted the time of three dozen or so of his top executives. He took them on a retreat and laid out what he called “Rules of the…
Douglas A. McIntyre According to Bloomberg, GM (GM) will announce a major restructuring including moving more production to small cars. Reuters reports that regional bank stocks were hit hard by liquidity concerns. Reuters writes that…
The most important financial lifeline for most small businesses and consumers is their bank. More often than not these banks are regional or local. They are easier to approach and tend to…
The federal government has decided that Fannie Mae (FNM) and Freddie Mac (FRE) are too big to fail. The Fed and Treasury will offer a combination of loans and stock purchases to…
Shareholders at Citigroup (C) have been begging new management to auction off as much of the bank as the new CEO can find. They reckon that is the only way to get…
Douglas A. McIntyre The short interest in most financial and industrial companies rose sharply for the period ending June 30. Shares sold short in Washington Mutrual (WM) rose 21.6 million to 276.4 million. Short interest…
Fannie Mae (FNM) hit by rumors that it and Freddie Mac may have to raise $75 billion. Drops to $14.65 from 52-week high of $70.57. Freddie Mac (FRE) sells down to $10.28…
According to Reuters, NBC Universal and partners will by The Weather Channel for $3.5 billion. Reuters writes that Toyota (TM) will add solar panels to some of its Prius cars. Reuters writes…
Citigroup (C) may be facing another $8 billion in write-downs in the second quarter. It may also cut 18,000 people soon and have to raise more capital. According to The Times, "Although…
Douglas A. McIntyre Europe’s banks need to head back out on the fund-raising circuit. They may have to bring in as much as $141 billion, according to Goldman Sachs. Reuters writes that this capital will…
Lehman (LEH) falls on rumors of sale to Barclays (BCS). Down to $19.64 from 52-week high of $76.99. Ambac (ABK) drops on more concerns it will need additional capital. Sells off to…
Citigroup (C) has decided to change its bonus structure so that senior management will be paid on the results of the entire bank instead of the success of their individual operations. It…
Douglas A. McIntyre According to Reuters, Rhapsody, a music service owned by Real Networks (RNWK) and Viacom (VIA) will make a push against Apple (AAPL) iTunes by embracing the iPod as its player. Reuters writes…
Oshkosh (OSK) Comes out with extremely week outlook. Sells down to $22.20 from 52-week high of $65.83. GM (GM) Big sell rating and possible credit rating downgrade. Economy catches up to Detroit.…
Today’s selling does not look orderly like it has on many other down days this year. The drop is across almost every sector and most widely-traded shares. Much of it is out…
