According to Reuters, Wilbur Ross say the bailout package does not address the core of problem which is mortgage payments. Reuters writes that the National Retail Federation says that this will be…
General Motors (GM) said on Friday that it will draw down $3.5 billion on the $4.5 billion line of credit it put in place with JPMorgan Chase (JPM) and Citigroup (C) back…
According to Reuters, Goldman Sachs (GS) and Morgan Stanley (MS) will give up their investment banking status and become bank holding companies to have access to the government’s proposed $700 billion bailout…
Frankly, we think the ban on short sales is not the right way to run a free market. But it doesn’t matter what we think. These are the new rules, but they…
If you look at the auto stocks today, you might deduce that they are next in line for the government corporate bread lines and farm camp jobs. Ford Motor Co. (NYSE:…
According to Reuters, Citigroup (C) is considering buying Washington Mutual (WM). Reuters reports that US markets rallied on word of a potential plan for the government to take over the toxic assets…
As if the US auto industry wasn’t already under fire enough, today we have yet another ratings action. The good news is that this is on the stock rather than the debt…
Douglas A. McIntyre After years of speculation, Porsche has become the controlling shareholder in VW. The news seems counterintuitive because VW is by far the larger company, but Porsche’s ownership dates back years to when…
According to Reuters, the federal government bailed out AIG (AIG) The Fed will loan the insurance company $85 billion for two years in exchange for a 79.9% stake. Reuters says that Barclays…
The collapse of the stock market, particularly shares in large financial companies, will have immediate effects on small businesses. Now that it is clear the the government will not help large brokers…
According to Reuters, Lehman (LEH) will seek Chapter 11 protection. Reuters reports that Bank of America (BAC) will buy Merrill Lynch (MER) for $50 billion. Reuters reports that AIG (AIG) is facing…
The premise for Detroit going to Washington for $50 billion in loan guarantees is that the auto industry needs cheap money to retool factories that can build more fuel-efficient cars. US buyers…
According to Reuters, debt of Washington Mutual (WM) was cut to junk on a forecast of a $4.5 billion loss reserve. Reuters says that concerns about Lehman (LEH) spread to Merrill Lynch…
According to Reuters, Washington Mutual (WM) fell 30% to a 17-year low. Reuters reports that billionaire Carlos Slim has bought 6% of The New York Times (NYT). Reuters writes that Northrop Grumman…
Since almost no one in the US or Europe is buying cars, auto companies have been looking to China for salvation. That does not put them in a different class from other…
