Posts tagged as “recession”
Warren Buffett said the US economy is a “shambles” and that, “We haven’t got the economy moving yet.” In an interview with CNBC Wednesday. More…
A Very Lucky Dick… On September 18th, Federal Reserve Bank Chairman Ben Bernanke and then U.S. Treasury Secretary Henry Paulson met in a closed-door meeting with Congressional leaders. I wish I knew what was discussed in that meeting – don’t you? In less than a month, the S&P would drop by nearly 25 percent and Americans retirement savings would vanish.…
General Motors will discontinue the Pontiac brand in a restructuring effort by the struggling automaker. More…
The only US automaker to turn away government aid posted a less than expected first-quarter loss and reduced cash consumption sending stock up during early morning trading. More
The New York Times is reporting that the Treasury Department is preparing Chapter 11 bankruptcy filings for Chrysler that could come as early as next week. Chrysler’s lenders hold nearly $7 billion in debt and the government earlier offered 22 cents on the dollar for a 5% share in a reorganized corporation. More…
President Barack Obama is pushing for greater legal protection for consumers as millions face mounting credit card debt. More…
Boeing Corporation stated that its first-quarter profit had dropped by half over last year due to cuts in planned production from airline cancelation and delays placed on aircraft delivery. More…