According to Bloomberg, "Goldman Sachs Group Inc. increased its recession estimates, saying gross domestic product is declining at a 5 percent annual rate in the current quarter and will drop 3 percent…
Douglas A. McIntyre A quick look at bank stocks would indicate that Wall St. is not terribly impressed with the Paulson $700 billion bailout plan. Citigroup (C), the whipping boy of the group, may be…
According to Reuters, Japan exports hit their lowest level since 2002. Reuters writes that hopes for an auto bailout in this session of Congress are poor. Reuters reports that the US is…
In a remarkably shrewd move, the top seven executives at Goldman Sachs (GS) will give up their 2008 bonuses. That should keep Congress and regulators off the investment bank’s back and allow…
Douglas A. McIntyre Rumors that Goldman Sachs (GS) will have to raise more money have helped push its stock from $123 less than a month ago to $71 yesterday. Wall St. wants to believe that…
According to Reuters, Chrysler is running out of time and options for staying in business. Reuters reports that American Express (AXP) is seeking $3.5 billion from the government bailout fund. Reuters writes…
Sandler O’Neill is an institutional brokerage firm that many individual investors have not ever heard of, yet it has been around for roughly 20 years. It also does business in some form…
Douglas A. McIntyre According to Reuters, a weakening economy in China and poor US earnings are causing concern that the recession will be deep and long. Reuters writes that Vodafone (VOD) cuts its full-year revenue…
GM (GM) plunges on concerns about Chapter 11. Falls to $3.02 from 52-week high of $32.80. Citigroup (C) get caught in fears that big financials will have to raise more money. Sells…
After today’s close, we’ll get to see earnings out of conglomerate, insurance giant, and recent bailout investor Berkshire Hathaway Inc. (NYSE: BRK-A) NYSE: BRK-B). Warren Buffett and friends do not get many…
From Goldman Sachs (GS) by way of MarketWatch: "The unemployment rate is expected to rise to 8.5% by the end of next year and inch even higher in early 2010, economists for…
Douglas A. McIntyre Goldman Sachs Group (NYSE: GS) had been the one spot in the brokerage sector which was immune from the credit crunch and nearly immune from the mortgage mess. In fact, the company…
According to Reuters, Europe prepared rate cuts as the economy their worsened. Reuters reports that the administration cleared the way for the car companies to get access to $25 billion in loans,…
Depending upon where your local elections are held, it looks like we are the half-way mark for most voting poll times today. What has been a 19- or 20- month ordeal is…
Many of the layoff announcements which came over the last several days were as unexpected as they were large. If a recession is measured by the rapidity and breadth of job losses…