The mayor of Birmingham, Ala., has been arrested on multiple charges of corruption stemming from the issuance of bonds and debt swap agreements that could lead to the largest municipal bankruptcy in American history. Mayor Larry P. Langford is accused of taking $235,000 worth of bribes from William Blount, chairman of the Alabama-based investment bank [...]
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General Motors Inc. is sort of the anti-Ross Perot, the company that informs you that no matter what the circumstance, it still needs a boatload of money just to make getting up in the morning worth it. The automotive giant (ish) asked for $18 billion in federal loans, one-and-a-half times the size of what it asked for a few weeks ago, amid a 41% decline in auto sales in November. But the thin...
Closing Bell: Markets bounce after yesterday's sell-off; BA, F, GE, DOW all up, GS down
Tue, Dec 2, 4:22 PM ET
Filed under: After the bell, General Electric (GE), Ford Motor (F), Market matters, Boeing Co (BA), Goldman Sachs Group (GS), Dow Chemical (DOW)Equities managed a comeback after yesterday's huge sell-off. Today was on little economic data, but "less bad" data from companies helped as well as overseas markets stabilizing before U.S. traders woke up this morning. We also did not see the continued...
Debra Borchardt reviews the most-searched stocks on TheSteet.com. Among the names are automakers GM and Ford and machinery companies like Caterpillar and John Deere.
The Carlyle Group appears to have lost interest in buying Neuberger Berman, Lehman Brothers‘ asset management unit. And it is unclear whether anyone else is interested besides two private equity firms, Bain Capital and Hellman & Friedman. Carlyle, the private equity firm that helped instigate the current round of bidding for Neuberger, has decided not to [...]
Options traders have descended on the smart phone sector Tuesday, with heavy activity in Research in Motion, Nokia and Palm, following poor earnings by the latter, and news of an introduction of Nokia’s entrée into this market. Research in Motion’s options were the most actively traded. The stock was getting hit, down 7.5% after Palm reported less-than-stellar results for its most r...
Yesterday's market is today's road map.
UnitedHealth Group Inc. (NYSE: UNH) has made some rather bold predictions for 2009. What is interesting here is that these projections are not the projections of old showing continued growth nor showing continued goals total dominance. But the possible surprise here is that this depends upon the state of just how bad things get in the economy and also upon several factors which might now be ou...
Filed under: Microsoft (MSFT), Sony Corp ADR (SNE), TechnologyI happened to be reading two articles on CIO.com yesterday concerning Nintendo (OTC: NTDOY) and its Wii distribution strategy. There was an older one from August discussing the reasons why the Wii has been in short supply. Was Nintendo purposely making the Wii a rare commodity? Were there indeed production problems? The second mentio...
I really have no insight today. I can watch the tells, but this relentless discussion of bottoming in a process that will probably take years to unwind is pretty nauseating. At least I'll admit I've got nothing, as opposed to the pundits or 'deciders' like Paulson and Bernanke who FUBAR'd the economy and now have all the answers?Illegitimi non carborundum.I sold my December VIX calls yesterday....