Nearly everyone who could keep GM (GM) and Chrysler out of Chapter 11 has gone along with supporting painful restructuring plans. The UAW and managements at the two companies have given up…
Douglas A. McIntyre According to Reuters, Bank of America (BAC) shareholders voted to separate the chairman and CEO roles and Ken Lewis was replaced as chairman. Reuters reports that talks to keep Chrysler out of…
By the middle of the year, the federal government will own large, and in some cases, controlling interests, in two car companies and several major banks. There is a chance the the extent of rescue efforts…
GM (GM) must fire another 21,000 factory workers, as part of a plan to get an additional $11.6 billion in aid from the federal government. The restructuring plan would give creditors stock…
According to Reuters, world health officials are fighting to contain the new flu. Reuters reports that the government may be pressing Citigroup (C) and Bank of America (BAC) to raise more money.…
On news that GM (GM) has put together a new and very aggressive restructuring program, its shares are higher by 22% to $2.07, which gives the company a market cap of $1.28…
GM (GM) has decided to go for all or nothing with its bondholders. They can swap their debt of stock, under unfavorable terms, or take their chances in bankruptcy court. The final…
Douglas A. McIntyre According to Reuters, a new generation of netbooks may reshape the PC industry. Reuters reports that concerns about swine flu have spread across the globe causing health alerts. Reuters reports that John…
Short selling is among the most controversial investment practices and has been blamed for sharp sell-offs in the stocks of a number of large companies, especially financial firms. Governments in both the US and…
It makes the federal government look weak. GM (GM) got another $2 billion to stay afloat while it negotiates with the UAW and creditors. Both parties have to assume that the Treasury…
Douglas A. McIntyre “The Big 3” is now likely more than ever about to become a term of the past. Chrysler looks like it may be the first one out, and the question immediately after…
According to Reuters, tech giants reported reasonable earnings for last quarter because of cost cutting and a resilience in a bad economy. Reuters reports that Chrysler is still working on a deal…
The Treasury has started to sweeten terms for Chrysler creditors in an attempt to keep the car company out of Chapter 11. According to The Wall Street Journal, “The Treasury now proposes…
Douglas A. McIntyre According to Reuters, a bill to restrict credit card charges cleared a key committee in Congress. Reuters reports that Ken Lewis of Bank of America (BAC) says his firm what urged by…
