TPM Muckraker reports about possible conflicts of inflict in TARP administration. Imagine!Highlights:The department has hired outside private contractors to administer parts of the bailout program, notes GAO. In their responses to Treasury's requirements, six of the eight service providers selected as of November 25, 2008, identified potential or actual sources of conflict. According to our rev...
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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...
Stocks lose steam in volatile afternoon trading after General Motors' worse-than-expected November sales and after another drop in oil prices drags down the energy sector.
General Motors will drastically cut jobs, factories, brands and executive pay in a desperate attempt to persuade Congress to give it $12 billion in loans and a $6 billion credit line to stave off a financial collapse, The New York Times’s Bill Vlasic reports from Washington. In an unabashed plea for an emergency government rescue, G.M. [...]
Stocks in the U.S. finished on the upside Tuesday, as General Electric narrowed its earnings forecast and the Big Three automakers returned to Capitol Hill hoping to secure a bailout.
Darn, those stocktwits people sure do love UltraShort Financials ProShares (NYSE: SKF). It came out on top of their list today, so of course I had no choice but to select it again. Sigh…. But, as you can see, performance is quite good. Check the end-of-trend indicator at the bottom, which gave many good clues about when to exit the positions. So, by my scorebook, I count the first two sho...
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...
WASHINGTON (AP) -- General Motors Corp. said Tuesday it needs $12 billion in government loans to keep operating, telling Congress in a bluntly worded report that its collapse could have "severe, long-term consequences to the U.S. economy."...
DETROIT (Reuters) - General Motors Corp on Tuesday asked the U.S. government to save it from failure by extending $12 billion in loans and another $6 billion in credit as part of an unprecedented federal intervention into the struggling auto industry.
General Motors Corp. shares lose gains as investors assess the automaker's long-term business plan submitted to U.S. lawmakers, and Marvell Technology Group Ltd. shares climb after the chipmaker swings to a quarterly profit.