At the beginning of the decade a number of internet and next-generation technology companies raised money through venture capitalists and IPOs. Many of these companies had little, if any, revenue. Most had…
One of the more subtle parts of the government bailout of GMAC came after the financial arm of the car company, now majority owned by star-crossed hedge fund Cerberus, got its $6…
Douglas A. McIntyre The mathematics of the US car company bailout are simple. At least the car companies say that they are. Expenses get cut. Labor costs go down to what they are for Japanese…
According to Reuters, cities and states are facing shortfalls and potential defaults. Reuters reports that the US steel industry is starting a "buy America" campaign. Reuters reports that Fannie Mae (FNM) believes…
According to Reuters, Wall St. closed its worst year since The Depression. Reuters reports that GMAC did not hit its goal of trading debt for equity and cash. Reuters reports that GM…
Last summer, a gallon of gas cost over $4. Now the prices has dropped below two bucks and is still falling. The sharp drop in crude oil is to blame. Intuition would…
GMAC finally got its designation as a commercial bank. That allowed the firm to get $6 billion in federal money, $5 billion of which comes from the Treasury Department in exchange for…
Douglas A. McIntyre According to Reuters, GMAC will get $6 billion from the government with $1 billion coming through GM (GM). Reuters reports that violence in Gaza intensified. Reuters writes that Japan is looking at…
The executives in the automobile industry will go to any lengths to prove what boobs they are. GM management has elected to wait until next year before it begins to negotiate cuts…
Douglas A. McIntyre According to Reuters, authorities do not think Madoff could have acted alone. Reuters show that the US is sinking deeper into recession. Reuters reports that the SEC defended it response to the…
The easy answer to the question of what US operations of The Big Three are worth is that they are worth nothing. That assessment is entirely accurate based on the current encumbrances…
According to Reuters, a survey of 22 countries show three-quarters of households cutting spending and a sharp drop of confidence in emerging economies. Reuters writes that the US sold record debt and…
According to Reuters, Japan’s recession deepened as its exports fell sharply. Reuters reports that Ireland will spend $7.7 billion to bailout its largest banks. Reuters reports that Toyota (TM) will report its…
Canada will put up $3.3 billion in government loans for troubled car companies. GM (GM) and Chrysler have large operations there, particularly plants. A shutdown of the firms would cost thousands of…
Douglas A. McIntyre People who get to the end of 2008 and are still at work can be thankful. The unemployment rate will probably be over 7%. That does not count the people no longer…
