On the eve of the presidential election…
I know yesterday I posted about going out and voting. I believe that the message can not be emphasized enough. Remember what happened in Florida in 2000? 600 Votes could have changed the outcome of...
View ArticleDelta picks up one of Northwest’s annoying fees
Recently, Delta and Northwest’s merger was cleared by the stockholders and signs went up around airports all over the country with Delta and Northwest terminals. In Memphis, a Northwest hub, signs went...
View ArticleUnemployment rate hits 14 year high
Today the Labor Department released information that showed the unemployment rate for the United States has hit a 14 year high of 6.5%. The report showed in October, 240,000 jobs were cut. The decline...
View ArticleWhat will happen to the US automakers?
There has been a lot of focus on United States’ automakers Ford, GM, and Chrysler. I have blogged about GM and Chrysler trying to merge to help keep their heads above water during these hard times....
View ArticleStock market news for November 13, 2008
Today the Dow rallied as investors were buying up stocks on the cheap.
View ArticleSun Microsystems to Cut 6,000 jobs
Roughly 18 percent of Sun Microsystems’s global workforce is set to be eliminated. Due to the drastic reduction in sales of high-end servers, the job cuts are a way to slash costs and reduce the budget...
View ArticleNo bonus for Goldman Sachs CEO
Goldman Sachs CEO, Lloyd Blankfein, and six other executives will not be receiving stock or cash bonuses this year. Surprisingly enough, the decision was made by the seven executives themselves because...
View ArticleColgate’s stock is lower than historical averages.
Colgate’s stock price has fallen about 25% to around $60 in the last year. The price is below the company’s historical average and with lower commodity prices and tinkering with its products, Colgate...
View ArticleMetals are down too.
Metal markets have also taken a hit with the stock market’s fall. The commodities and the firms that supply them have been falling steadily with the market. Since many people aren’t building anything...
View ArticleCitigroup stock drops to a 13 year low…
Citigroup’s stock fell today more than 20% to $6.40 a share. This is the lowest stock price that the group has seen since 1995. I guess this means that investors don’t believe the cost-cutting measures...
View ArticleCitigroup to go on sale?
Citi is doing everything that it can to keep the company afloat. Right now, however, the stock keeps slipping and one of its options may be to sale the company. However, the executives are doing...
View ArticleGood news on Wall Street
Stocks are up (so far) today due to Citi calming investors’ fears with a government bailout. The bailout will keep the huge financial company from going under. Not only is the Dow up (right now) over...
View ArticlePorsche pushes back VW buyout
Porsche currently holds just over 42% of Volkswagen stock and are planning on owning more than 50%, so it can “own” VW. In the past Porsche has said that it wants to purchase the extra stock by the end...
View ArticleCapital One to buy out Chevy Chase Bank
Chevy Chase Bank, a Bethesda, MD based bank will be bought out by Capital One. Capital One will buy the bank for $520 million in cash and stock. Capital One says it expects cumulative losses from the...
View ArticlePortable CD players making a comeback in the UK?
It seems due to a slump in the economy (among other factors) the gadget that was once written off and left for dead is making a small impact on retail stores across the UK. For around £15, someone...
View ArticleBest Buy hoarding Wii’s?
Over two years after its initial release some stores are still having trouble keeping Wii’s in stock. Just the other day Walmart.com said they had “tens of thousands” of them and still sold out within...
View ArticleOPEC president wants to cut production by “way more” than 1 million barrels
OPEC President Chakib Khelil, said that the OPEC meeting this week will likely come to the decision to cut production by “way more” than 1 million barrels. The reason he gave for such a high cut was...
View ArticleDid short selling almost destroy U.S. banking?
According to a CNBC report from Mad Money…yes. According to CNBC the hard numbers are these: “Just in the 12 days leading up to the Nov. 24 Citigroup bailout, short selling accounted for over 49% of...
View ArticleStock market reacts to Fed’s decision
Just after the Fed’s announcement to cut the interest rate the Dow rallied. The Dow started the day at 8565 and is now up over 2.19% and at 8784. Just before the announcement, it was trading around...
View ArticleAuto industry gets loans, stocks respond
The auto bailout was passed last week for GM and Chrysler. Bush signed the bailout for them to receive $17 billion in loans. There were some fairly steep stipulation to the loans, but at the same time...
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