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…
It has become just another trading day for GM (GM). Shares are up 11% to $4.09. Over the last two weeks, it has traded well above that level on several days. On…
Douglas A. McIntyre President Bush said that he will offer loans from the TARP to cover funding needs for three months or so. The package is meant to mirror the one narrowly defeated in Congress…
Douglas A. McIntyre The Bush White House let it leak out yesterday that it was looking at Chapter 11 as a possible way to deal with GM (GM). The news is an acknowledgment that suppliers,…
Douglas A. McIntyre According to Reuters, GM (GM) and Chrysler are close to a loan deal with the government. Reuters reports that Obama will ask for a major stimulus package focusing on infrastructure and helping…
Credit rating agencies and stock analysts have the habit of stating the obvious after the obvious is obvious to everyone else. S&P cut its price target on GM (GM) today. A bit…
Douglas A. McIntyre The latest big idea to help save the American auto industry is an old one–merge GM (GM) and Chrysler. It is a road the companies have been down before, but they are…
Douglas A. McIntyre According to Reuters, Chrysler will idle its plant for a month to cut inventory and costs. Reuters reports that the SEC is under fire over the Madoff investigation. Reuters reports that Obama…
These are some of the key analyst downgrades and negative calls we have seen this Tuesday morning: ADTRAN (ADTN) Cut to Neutral at Baird. Allianz (AZ) Started as Underperform at Jefferies. Cypress…
The car czar is a joke, a way to get a few billion dollars to GM (GM) and Chrysler while they move their companies in better shape for Chapter 11 filings. The…
Douglas A. McIntyre The recession has caused so much panic among Americans that it has addled their minds. According to a new poll from The Washington Post and ABC News, most citizens do not favor…
Douglas A. McIntyre The airline industry rule about Chapter 11 is to file whenever necessary and file early while there is still cash on the balance sheet. GM (GM) and Chrysler may be learning the…
Douglas A. McIntyre