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.…
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…
It is time for Ben Bernanke to descend from Mount Olympus and join the Croesus of the administration, Henry Paulson, in the the trenches, or the tranches, depending on your perspective. Late…
Hartford Finl Svcs (HIG) Downgraded due to exposure to debt at troubled financial firms. Drops to $31.26 from 52-week high of $99.21. Circuit City Stores (CC) The end is near. Hard to…
According to Reuters, the credit crisis has sharply increased the chances of a deep recession. Reuters reports that the fall in the stock market is pushing investors into safe investments like Treasuries.…
Circuit City (CC) sacked the CEO who ran the company for the past four years. Philip Schoonover held every important job at the retailer from chairman to CEO to president. He was…
Hope is a fine human emotion until it moves to lunacy. A psychosis of optimism has seized the retail industry. The National Retail Federation says that sales will rise only 2.2% this…
According to Reuters, Wilbur Ross say the bailout package does not address the core of problem which is mortgage payments. Reuters writes that the National Retail Federation says that this will be…
The evidence that sales at many companies are struggling and that employment will suffer are almost everywhere. Recently, a division of GMAC said it would let 5,000 people go. According to MSNBC,…
Fannie Mae (FNM) Fear the mortgage firm will fail. Drops to $3.95 from 52-week high of $70.57. Freddie Mac (FRE) Ditto. Sells down to $2.95 from 52-week high of $67.20. McClatchy Newspapers…
Douglas A. McIntyre Circuit City Stores, Inc. (NYSE: CC – News) has appointed director James A. Marcum as vice chairman of the company. In this new position, Marcum is expected to play a key role…
Douglas A. McIntyre According to Reuters, JP Morgan (JPM) lost $1.5 billion in July. Reuters writes the UBS (UBS) posted a huge loss and will split itself into a wealth management operation and an investmen…
These are some of the top Downgrades or negative calls we are seeing early this Tuesday morning. Neutral and Hold ratings are not technically negative, but they aren’t ringing endorsements either. Best…
It is now no secret that we are in a very weak economic environment and if it is not an official recession it is for about 80% of the country. We’ve already…
Consider the following: Since 2006, shares of Circuit City have fallen from $30 per share to $2.22. In FY 2006, the company earned $140 million. In FY 2008, Circuit City lost $320…
Douglas A. McIntyre 