Washington Mutual (WM) More banking concerns. Hammered to $7.12 from 52-week high of $44.19. Bank of America (BAC) Death to all bank stocks. Sees $30.56 from 52-week high of $52.96. National City…
There was nothing wrong with relying heavily on pick-ups and SUVs for the bulk of GM’s (GM) sales. That is what CEO Rick Wagoner told the FT. The fact that "light trucks…
Tautology has raised it ugly head in Detroit where car company executives insist that the more people they fire, the more productive they become. So they fire more people each month and…
Short sellers sharply increased their bets against big US banks based on data from the NYSE as of May 30. The number compare with those onMay 15. Short interest in Washington Mutual…
According to Reuters, a survey of sovereign wealth funds found concerns about their investment is overblown. Reuters reports that Verizon Wireless (VZ)(VOD) will buy Alltel for over $28 billion. Reuters reports that…
Everyone in the car industry waits for the once-a-year JD Power Initial Quality Study to come out. The poll looks at how many defects a car has in the first 90 days…
According to Reuters, nuclear energy is beginning to make a comeback Reuters reports that Vodafone (VOD) said Verizon Wireless is in talks to buy Alltel. Reuters writes that Corporate Express will open…
According to Reuters, domestic car sales took a huge dip in May. Reuters writes that UAL (UAUA) will announce more job cuts and rate cuts. Reuters reports that Yahoo! (YHOO) has set…
GM (GM) reported a 28% drop in May domestic sales to 268,892 cars and trucks from 371,056 a year ago. Cars dropped 14% while trucks fell 37%. GM blamed strikes, including the…
A lot of analysts thought that Cerberus management, usually so clever and sharp, made a buffoon’s move when they bought into Chrysler and GMAC. The auto market immediately went South. It turns…
One of the most brilliant theories in business is that large companies are destroyed by more nimble competitors. Over time, the small companies become the large ones. The genius and capacity for…
According to Reuters, the head of Harris Bank said the company was not for sale. Reuters writes that Toyota (TM) will cut its sales forecasts for the US. Reuters reports that Nomura…
Kirk Kerkorian may be able to join Carl Icahn as a billionaire who has taken a lot of mad gambles recently. According to Reuters, "Kerkorian’s investment vehicle Tracinda Corp said it would…
It is not 1876, and GM (GM) CEO Rick Wagoner does not have long blond hair. But, Mr. Wagoner is in mortal trouble and there may not be much he can do…
According to Reuters, Yahoo! (YHOO) says Microsoft (MSFT) is not longer anxious for a merger. Reuters said Exxon (XOM) investors voted to keep the chairman and CEO jobs together. Reuters reports that…
