Archive for the ‘Economy’ Category

With the deadline for GM looming just 2 weeks away, bankruptcy is looking more and more probable. CEO Fritz Henderson still hopes to restructure before the June 1 deadline but the task maybe to large. Standing in GM's way are bond holders and unions who must accept lower than what is expected. GM is also looking at selling assets like Opel, Hummer and Saab to raise ... Full story

Yahoo has announced it will cut 700 jobs in a effort to turn the one time internet darling around. Yahoo has been sliding for years and its rejection of a take over offer from Microsoft has only made things worse as both companies are down well below what they were at the time of the offer. Recently the Yahoo has rallied on more rumors of a ... Full story

The market continues to rally on G20 news and lack of any real bad news showing things are worse. As I wrote at the end of my last article several had targeted this rally to hit 8k on the DOW which we have now broken through, we may not close above it but close enough. One very interesting stat I heard yesterday is that on ... Full story

Well blink and you missed it according to some news outlets and financial experts who claim that the bottom of the market is in, you're forgiven if you have lost faith in their judgement given their track records and perhaps their own self interest in seeing a end to this bear market. We were due for a rally as nothing goes straight down or up and ... Full story

Stocks continued the slide Monday, as they reached 1997 levels with still very few buyers to be found. Pessimism has taken hold and it appears that the Obama honeymoon will soon be over.  It feels like just a matter of time before the 7,000 level will be breached as there has been very little support after 8,000 was broken. The unfortunate thing is there seems ... Full story

With bank bailouts, auto bailouts, and a massive stimulus plan underway the next plan is to stop the flood of foreclosures. Obama's plan calls for increasing funds set aside to Fannie Mae and Freddie Mac as well as subsidising some mortgage payments. Mortgage payments over a certain percent of a persons income would qualify for subsidies. The ... Full story

Treasury Secretary Timothy Geithner has been chosen to over see the auto sector bailout. Originally it was though has so called car czar might be selected to administer the bailout funds. Geithner and Lawrence Summers will be responsible for $17.4 billion in loan agreements to help give the ailing auto makers  a much needed lift. Full story

A day after a New York Times report that claimed troubled Citi Group was buying a new Corporate Jet for $50 million after receiving $45 billion in federal bailout funds. Apparently Citigroup had a change of heart. With its stock tumbling under $5 Citi says it has no plans to follow through with the French made 12 seat luxury jet. Full story

Well lets hope so! The January Effect is a term investors use to refer to the stock  market gains that have been traditionally seen in the month of January. The January Effect focuses on small cap stocks outperforming. The theory is that many investors sell there small cap stocks in December to take advantage of tax ... Full story

After months of falling oil prices due to the global economic slow down and lack of demand. Oil prices are moving up again with recent violence in and rise in tension in the Mid East. Prices rose to over $40 a barrel on Monday largely due to fears of a widening conflict in the Mid  ... Full story