The UAW is dragging its feet in negotiations with GM (GM). That could be risky business. The federal government reserved the right to put the car company into bankruptcy if it did…
Douglas A. McIntyre According to Reuters, Detroit’s efforts to build "green" cars may come too late. Reuters reports that Obama is seeking the $350 billion still left in the TARP. Reuters writes that prosecutors will…
For the latest reported period, ending December 31, short sellers did not make any notable moves in or out of tech, financials, or industrial shares. What they did do was take impressively…
The list of problems that could hurt bank earnings is already pretty long. The first big problem was mortgage-backed securities. That was followed by consumer credit write-offs. Then came loans for commercial…
According to Reuters, Citigroup (C) is near a deal to form a venture putting its brokerage business together with the one at Morgan Stanley (MS) Citi would be paid about $2 billion.…
In the game of chess over how Detroit can be saved, one of the moves has been to try to keep the UAW from striking. A strike could end any chance that…
Douglas A. McIntyre According to Reuters, the world is waiting on US jobs data to measure recession. Reuters reports that a Congressional panel is upping criticism of the Treasury. Reuters reports that corporate fraud scandals…
According to Reuters, Microsoft (MSFT) Windows 7 is "on schedule" and will begin testing with consumers. Reuters reports that Obama will lay out his case for stimulus package in a speech. Reuters…
It is the Year of the Rat in China. Perhaps they could change that to the Year of the Dog so that it would be in keeping with the general mood. One…
Douglas A. McIntyre It would be hard to miss the headline that Alcoa (AA) fired 15,000 people yesterday. The actions of big companies are probably a much better indicator for what is ahead for the…
According to Reuters, Alcoa (AA) will fire more than 13,000 people. Reuters reports that Apple (AAPL) disappointed with no Jobs or big announcements at Macworld. Reuters reports that GM (GM) says government…
It is hard to imagine an industry where when sales are off 30% to 40% it is considered a good thing. Welcome, to the Detroit auto company bailout of 2009. Sales of…
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…
