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…
According to Reuters, a number of retailers are cutting back holiday hiring as they anticipate lower sales. Reuters reports that GM’s (GM) interest in Chrysler’s cash is helping move a merger forward.…
Founded during The Great Depression, the UAW is now more than seventy years old. Henry Ford once supposedly said that the union would organize Ford (F) workers over his dead body. Ford…
Toyota is not supposed to have to give out any incentives to sell its cars. They perform better than other vehicles in customer satisfaction tests. They get good gas mileage. Toyota virtually…
Google’s (GOOG) earnings are ancient news now. The search company did much better than expected. The economy did not bring it down like a rhino killed off in the wild. The company’s…
According to Reuters, policy makers around the world are trying to deal with the fact that the economy is moving into a deep recession. Reuters writes that Google (GOOG) exceeded forecasts and…
The merger talks between GM (GM) and Chrysler appear to be heating up. GM would like to have an agreement by the end of this month. Putting the two companies together would…
According to Reuters, Swiss banks are getting large amounts of capital to fight the global credit crisis. Reuters reports that AIG (AIG) is lobbying to loosen government oversight rules. Reuters reports that…
According to Reuters, economic attention has now turned to the recession. Reuters reports that a new survey shows that half of all workers are worried about their jobs Reuters reports that unions…
Analysts assume third quarter earnings for the companies in the S&P 500 will be bad. But, looking at the number which is the average of all firms in the index is misleading.…
According to Reuters, the Treasury will make $250 billion directly into banks. Ciitgroup (C) and JPMorgan (JPM) would get $26 billion each. Merrill Lynch (MER) and Bank of America (BAC) would each…
The credit crisis has been so severe that even the largest companies in the US have had trouble getting access to the capital markets. Firms as large as GM (GM), Goodyear, and…
The UK government is about to become the de facto largest shareholder in two of the country’s largest banks, HBOS and The Royal Bank of Scotland (RBS). Given the number of times…
According to Reuters, world markets are waiting to see how the bailout of banks in Europe and the US will work. Reuters reports that Japan’s Mitsubishi UFJ Financial Group is looking for…
The IMF said that the world banking system faces of meltdown if governments does not take immediate action to support that largest banks. Based on comments from Paulson, the US may be…
