John Dingell and other slippery congressmen and governors who get free meals and martinis from car company lobbyists went to the Federal Reserve and begged for $10 billion to help GM (GM)…
It was no secret that US auto sales were going to be down the drain. Frankly, it is hard to find many who really expect any sudden recovery. The election on Tuesday…
According to Reuters, South Korea launched a major economic stimulus package. Reuters reports that nearly 1,800 publicly held institutions could apply for U.S. government investments. Reuters reports that HBOS took an $8.5…
American car companies hoped the day would never come. Data from October is expected to show the market shares of Toyota (TM) and Honda (HMC) for US vehicle sales is expected to…
Because Chrysler is now a private company, no one outside the corporation and its investors has a precise picture of its finances. Through the first nine months of this year, Chrysler sold…
In a recession, people are supposed to be able to buy soap, hamburgers, beer, and video games. This downturn may be worse than most. Electronic Arts (ERTS), posted a net loss of…
According to Reuters, the economy contracted in the third quarter as consumer spending dropped sharply. Reuters writes that Fidelity Magellan Fund bought shares in big banks in September including Bank of America…
It has only taken a week for the global auto business to rebound from one of its worst periods in decades. GM (GM) is close to a deal to buy Chrysler. The…
In a sign that the car industry is alive and well, the market cap of VW passed Exxon (XOM) to move it into first place worldwide. According to Bloomberg, the stock rose…
Porsche is not a very big car company, but it has had some special rights to buy a significant amount of equity in the largest car company in Europe–VW. The VW management…
For the period ending October 15, short sellers got out of most banks and brokerage stocks. That is a shame for them. They could have made a killing this week. The short…
According to Reuters, disappointing earnings pushed Wall St. down. Reuters reports that Yahoo! (YHOO) profits dropped and the company will cut jobs. Reuters writes that Kirk Kerkorian sold part of his Ford…
Billionaire, or at least still multimillionaire, Kirk Kerkorian sold a large piece of his stake in Ford (F). The transaction amounted to 7.3 million shares at $2.43 each. The is only a…
Douglas A. McIntyre GM (GM) may not be able to come up for the money to marry Chrysler. The deal could involve firing 60,000 people and paying their severance. The process of putting the two…
There is an arcane rule in the Federal Reserve charter that allows it to provide funding to organizations outside the banking system. It is buried under dust and cob webs somewhere in…
