Toyota And Maybe Honda And Mazda Asking For A Bailout
By Meg Marco, 9:59 AM on Wed Mar 4 2009, 6, ... would follow Toyota Motor Corp., Japan's biggest carmaker, in seeking loans from the government as the global recession hammers auto demand. U.S. auto sales in February slid to the lowest rate since [more...]
Date: 2009-03-04 14:59:09
Blog posts
(89) |
Videos
(166)
Deloitte Issues Going Concern Opinion on General Motors
In GM’s 2008 10-K , filed this morning, Deloitte’s audit opinion contained a “going concern” clause: ... gravity of the situation as auto sales plummet to their lowest levels in more than a quarter century and revenue continues to drop sharply. GM has already taken $13.4 billion in government loans [more...]
Date: 2009-03-05 17:37:29
$85 billion deficit: The Canadian budget
Federal Finance Minister Jim Flaherty has released the budget, and the spending is gargantuan. It is monstrous. It is ginormous ... billion in short-term loans to the auto industry. * More than $1.4 billion for aboriginal schools ... a slight increase in the basic personal exemption and raising the upper limit on the two lowest [more...]
Date: 2009-01-27 22:08:31
Thursday Market Preview: The Bears Are Firmly In Control
Ouch, the Dow closes at its lowest level since 2003. There were several reasons including:Fears that a bailout of the key auto sector will fail ... the NASDAQ.The now non-TARP for banks has let them again be saddled with all those toxic loans [more...]
Date: 2008-11-20 12:27:23
Positive Psychology Workshops to boost happiness at work
THE fear of looming job losses is affecting workers’ morale so much some employers have resorted to “happiness classes” for key personnel. Even companies that seem to be weathering the storm are suffering from “pre-absenteeism” among staff who can’t focus because of the fear of losing their jobs, according to a survey by Drake recruiters [more...]
Date: 2009-03-10 07:53:53
Scanning the News: Tough Times Require Decisive Action
Though I get most of my in-depth commentary on business and technology from blogs, I augment that with mainstream news headlines and alerts ... Stocks in U.S. Retreat; S&P 500 Index Falls Below Lowest Close Since 2003 •Berkshire Credit Risk ... ' as Shares Fall •Senate's McConnell Calls for Expediting $25 Billion of Loans to Automakers •Hijacked [more...]
Date: 2008-11-19 16:04:32
Weekly Economic Potpourri November 29, 2008
Every week there are a numerous headlines that are worthy of mentioning but I simply run out of time. Here are a few headline news reports of interest from the past week.Japan’s Factory Output Falls as Turmoil Hurts ExportsJapanese manufacturers reduced production in October and plan further cutbacks as a worsening global financial crisis weakens [more...]
Date: 2008-11-29 18:46:00
“A Funny Sort of Depression” by Victor Davis Hanson
Are we headed to something like the Great Depression? There is clearly much to be worried about. Most of America’s private retirement 401(k) ... may be nationalized. The American auto industry will not survive as we have known it for nearly a century. Abroad, the news is worse. European banks have lost trillions of euros in bad loans [more...]
Date: 2009-03-03 13:45:16
New Bank Bailout Could Cost $2 Trillion
Wall Street Journal | Jan 29, 2009By DEBORAH SOLOMON, DAVID ENRICH and JON HILSENRATHWASHINGTON — Government officials seeking to revamp the U.S ... been earmarked for other efforts, including aid to auto makers and to homeowners facing foreclosure.The ... loans and distressed securities. The so-called “bad bank” that would buy these assets could be seeded [more...]
Date: 2009-02-01 07:51:28
Bolshevik Musings Walking home from work late last night I passed the Bank of America building on Federal Street ... , comes courtesy of my taking compensation in equity rather than salary, as I continue to be the lowest ... to people who took out loans they cannot afford. Five years ago, I passed up a nice condo [more...]
Date: 2009-02-19 20:44:53
Unemployment Now A Driver Of Foreclosures
Our current foreclosure crisis over the last three years was mainly driven by subprime adjustable rate mortgages with skyrocketing rate hikes at ... employment hit by dropping oil prices. Michigan employment is dropping do to the auto industry tanking ... . When fixed rate loans are going into default, you know the cause can’t be exploding rates. The [more...]
Date: 2009-03-08 18:07:44
Checks and Balances
Four people close to me were laid off from three different companies on the same Wednesday in January and selfishly, I really, really wish it hadn’t happened because some of those people were also co-workers and I miss them every day and the survivor’s guilt coupled with the lonely absence that is now the desk adjacent to me are a bad combination [more...]
Date: 2009-02-23 23:56:43
Post Session Commentary - Feb 24 2009
Indian market ended slightly below the dotted line after trimming most of its earlier losses on expectations that RBI may cut policy rates to support ... the world. The US markets on Monday plunged to their lowest levels in nearly 12 years due ... , FMCG, Auto and Oil & Gas stocks remained in limelight as witnessed most of the buying [more...]
Date: 2009-02-24 13:43:00
Economic Potpourri December 9, 2008
News is flying out of every corner at record speed now. It is very difficult to keep up with ... reports of interest from the past few days.Japan’s Economy Shrinks 1.8%, More Than ExpectedJapan’ ... States worked toward a rescue package for its battered auto makers.The economy shrank 0.5 percent [more...]
Date: 2008-12-09 09:19:00
DrumBeat: November 18, 2008
Credit crisis dims the lights for power industry GREAT FALLS, Montana: As workers scramble to build an $800 million coal-fired power plant on a patch of farmland here, a crisis that began on faraway Wall Street threatens to stretch America's power supplies to the brink — driving up prices and laying the stage for future shortages [more...]
Date: 2008-11-18 13:23:42
A Bottom-Up Bailout Rather Than Trickle-Down
Hank Paulson has just about burned through $300 billion, and it's not clear what the public has got out of it ... banks have not significantly stepped up their loans to small businesses, college students, car buyers, or distressed homeowners. Much of the auto industry is on the verge of bankruptcy. And the rate [more...]
Date: 2008-11-18 21:33:00
WORLD CRISIS: -- WEEKLY WRAP-UP -- 2009/Feb/21
MY SNAPSHOT, PLAIN-LANGUAGE ASSESSMENT OF LAST WEEK’S OUTSTANDING ECONOMIC EVENTS SHAPING OUR WORLD: ——- ——- SUMMARY ( ... zloty vs home loans. Russia -2.2% 2009. Rouble fell . Japan 4th q GDP - 3.3 ... b. To be fully nationalised? (now 43% UK’s). GLOBAL AUTO-INDUSTRY: GM, Chrysler [more...]
Date: 2009-02-21 10:49:00
How Near Is The Czech Economy To Recession?
The highly open Czech economy is set to slow down considerably, affected by the deteriorating outlook for its main trading partners ... ), and that the dependence on car exports is a real achilles heal at a time when a generalised credit crunch means that the financing which is needed for people to make car purchases often quite simply isn’ [more...]
Date: 2009-01-25 09:20:29
Ford Sales Decline 48%, Toyota 32%, Honda 21%, Nissan 35%
Once again the auto sales statistics were grim with Ford leading the way. GM and Chrysler have yet to report. Please consider Ford’s February U.S ... loss in 59 years, may ask for 200 billion yen ($2 billion) in loans for its credit unit from the Japanese government as private financing has become too expensive, public broadcaster NHK reported [more...]
Date: 2009-03-03 18:02:00
Wall Street Breakfast: Must-Know News
'Bad bank' funding starts to take shape. The White House is said to be considering creating multiple investment funds to buy some of the bad loans ... for loan assistance as the company faces its first loss in 59 years and private investors demand ... of the loan request or the timing. The company is expecting a ¥350B net loss after vehicle sales [more...]
Date: 2009-03-03 12:18:10
Japanese automakers may also need bailout
March 4, 2009in Asides It’s not just the Big 3 automakers that are in trouble.Honda Motor Co., suffering from a 38 percent plunge in U.S ... from the government as the global recession hammers auto demand. U.S. auto sales in February slid to the lowest rate ... . auto sales in February, may ask to borrow money from Japan’s government to lend to U.S. car [more...]
Date: 2009-03-04 15:28:28
Daily Update: February 19, 2009
Again, no saints to honor; so again we turn to History, and find that on this date in 1942 President Franklin D. Roosevelt signed Executive Order 9006. This order authorized the Secretary of War and U.S. armed forces commanders to declare areas of the United States as military areas “from which any or all persons [more...]
Date: 2009-02-20 00:46:28
Auto Industry Bailout Opening Offers In Phase II
GM and Chrysler made another round of bailout requests today. General Motors and Chrysler LLC . . ... worldwide by the end of the year. . . . A newly-appointed auto panel will review both plans and determine ... loans, a move that would likely force them into bankruptcy. . . . the companies also submitted [more...]
Date: 2009-02-18 02:38:00
Weekly Economic Potpourri December 7, 2008
Every week there are a numerous headlines that are worthy of mentioning but I simply run out of time. Here are a few headline news reports of interest from the past week.Bank of England mulls ... that Countrywide buy every mortgage loan for which it agrees to reduce payments under a predatory [more...]
Date: 2008-12-07 08:57:00
Market seen extending two-day losses as recession worsens
Key benchmark indices are seen opening sharply lower, extending two-day losses, in a global backlash following renewed global economic worries ... gloom and fears about the health of the global finance sector pushed Asian shares to their lowest level this month and Japan's Topix index toward the lowest close in 25 years. China's Shanghai [more...]
Date: 2009-02-18 04:20:00
Popular Express chugs in
Everybody's private motto: It's better to be popular than right ... like Housing, Infra, IT, Auto and export-centric industries. Some tinkering with indirect ... had lost as much as 245 points in the afternoon, hitting its lowest [more...]
Date: 2009-02-13 03:49:00
GM Bankruptcy Option Under Discussion
Bloomberg is reporting GM, Chrysler May Accept Bankruptcy to Receive BailoutGeneral Motors Corp ... in bridge loans, about one- third larger than the $25 billion Energy Department loan program the White ... Angeles, said Democrats’ goal of preserving a U.S. auto industry is not doable without a bankruptcy [more...]
Date: 2008-12-04 19:09:00
Happiness and healthiness
Recent scientific studies prove what ancient people have known from, well, Antiquity, and namely that individuals who are always in a good mood and remain positive throughout the day experience less diseases and less sickness than those who are always gloomy. Researchers from the University of Kansas (UK) [more...]
Date: 2009-03-05 23:18:21
Portugal Sustains
“Art has a function of teaching about the human condition. We live in hope, hope is fundamental” - Manoel de Oliveira Manoel de Oliveira (photo and quote above) is a living example for the Potuguese people of how to force their way out of the low growth/low per capita income trap into which they have steadily stuck their neck. Oliveira [more...]
Date: 2009-01-12 14:37:23
The Chrysler recovery plan
The Chrysler recovery plan February 17th, 2009 by DaveAdmin Chrysler LLC today submitted its viability plan to the U.S ... the requested working capital loan is the least-costly alternative and will help provide an important ... technology as a primary strategy for developing fuel-efficient, low emission vehicles, including an electric [more...]
Date: 2009-02-17 21:58:31
Wall Street Breakfast: Must-Know News
New acronym on the block... The government unveiled its newest initiative, called TALF, or Term Asset-Backed Securities Loan Facility. The $200B facility will support consumer finance, including student, auto and credit card loans ... Mac (FRE) and the Federal Home Loan Banks. According to the statement released by the Fed [more...]
Date: 2008-11-26 12:14:47
Automakers Go Electric
More electric-powered vehicles will be commercially available in the next three years, according to U.S. automakers ... details at next month's North American International Auto Show in Detroit. The announcement adds ... at the January auto show. GM has rested its company's future on the Chevy Volt, the world's first electric [more...]
Date: 2008-12-09 11:00:00
if you want to find suitable mortgage rates you may be better of asking a mortgage broker
When you are tying to find a new mortgage there are plenty of web sites available with mortgage best buy comparison charts, a whole variety of frightening mortgage tools and a lot, lot more. But the big problem with these tools is that although they are great for quickly showing and finding you the best mortgage products on the market and which [more...]
Date: 2009-02-24 19:15:26
Getting A Car Loan The Easy Way
by James Gangrut The big American car makers are in deep trouble. The automobile companies were already in deep trouble before the crisis hit ( ... to get a new car now, consider purchasing American because of the cheap financing and take care of your credit ... t have to worry about your credit. About the Author: James writes about financial [more...]
Date: 2009-03-08 10:27:32
Stop The Auto Bailout Campaign - Phase Three
The automakers have made another push for money, now asking for $34 billion when two weeks ago they only needed $25 billion ... for this campaign come from Auto Sales Plunge To Lowest Level Since 1982.Here is the first thing ... . It's time once again to let our representatives we want to stop the madness.Stop The Auto [more...]
Date: 2008-12-04 09:44:00
WSJ: New Bank Bailout May Cost $2 Trillion
From the Wall Street Journal: New Bank Bailout Could Cost $2 TrillionBy DEBORAH SOLOMON, DAVID ENRICH and JON HILSENRATH JANUARY 29, ... aid to auto makers and to homeowners facing foreclosure. TARP Participants See how TARP funds ... loans and distressed securities. The so-called "bad bank" that would buy these assets could [more...]
Date: 2009-01-29 05:03:30
This is what happened.
Last February I fell apart. I held it together professionally and all, but in hindsight: I fell apart. I was deeply disoriented by what felt like having the ground drop out beneath me and I was living alone for the first time which was exhilarating and comforting and claustrophobic all at the same time [more...]
Date: 2009-02-20 00:41:54
The Stimulus... and Billions More
On Tuesday afternoon, President Barack Obama signed his first bill into law. And it was a hefty, too! ... Corp (GM) and Chrysler LLC requested nearly $22 billion in additional U.S. government loans and said they had reached tentative deals with the United Auto Workers union to reduce labour costs [more...]
Date: 2009-02-18 07:14:00
DrumBeat: January 27, 2009
Oil prices tumble on jobs, housing consumer data COLUMBUS, Ohio – Oil prices tumbled sharply on Tuesday with more evidence of decline in the U.S. housing industry, more job cuts and plunging consumer confidence, all of which can lead to cuts in energy spending. Light, sweet crude for March delivery lost $4 [more...]
Date: 2009-01-27 14:06:37
CBS ‘60 Minutes’: Barney Frank, ‘The Smartest Guy in Congress’
In a softball profile of the liberal Massachusetts Congressman Barney Frank on Sunday’s CBS 60 Minutes, ... Committee, which means his portfolio includes banks, housing, and now the auto industry. " Stahl later ... by asking Frank about the auto industry bailout: "True to textbook liberalism, Barney Frank worked [more...]
Date: 2008-12-18 18:19:27
Ford Predicts 9 million Selling Rate for February. Where Is The Bottom?
Ford Motor Co. said Friday that auto industry sales would be at an annualized selling rate of just around 9 million in February when it and other ... as Chrysler. Auto sales fell 37 percent overall from a year earlier. The annualized rate, a key measure ... Pipas said the company is still predicting a second half bounce for auto sales, but that the [more...]
Date: 2009-02-27 22:12:17
Saving Europe?
It appears that many of us have had quite a bit of a weekend these past days. Sitting here in Barcelona’s airport I can look back at some very nice dinners and conversations in the company of friends and colleagues as well as the odd stroll down La Rambla [more...]
Date: 2009-03-02 15:00:02
Hope And Change: Jobless Rate Hits 8.1%, Highest Point Since 1983
650,000 jobs lost according to the latest report . The nation’s unemployment rate rose to 8 ... consumer lending, such as credit cards and student and auto loans. The program, which could involve ... the collapse of the credit markets: hedge funds and private-equity firms. The initiative to revive [more...]
Date: 2009-03-06 19:13:07
They're Back!!
February 20, 2009, 12:10 p.m. They're Back!! (brought to you by FromDC2Iowa.blogspot.com *) [Credit: Carol Ann: "They're back ... loan money that G.M. requested would be used to cover its continuing losses. The company ... ? The auto companies -- GM and Chrysler. G.M., the nation’s largest automaker, . . . is assuming [more...]
Date: 2009-02-20 17:31:00
Economic Potpourri December 20, 2008
The barrage of noteworthy economic news continues unabated. Here are a few headline news reports of interest from the past couple days.Legg Mason to Add Miller to All Cap Fund Manager TeamBill Miller, the Legg Mason Inc. money manager whose two funds have each lost more than half their value this year, [more...]
Date: 2008-12-21 01:05:00
Seeking Bootcut Jeans in Dark Rinse, Must Love Dogs
For our second date D. invited me over to his apartment for dinner and after eating outside in his backyard we watched a movie and after we watched a movie I walked home, and as I walked home my dainty little silver sandals caught a jagged spot of sidewalk somewhere around 76th Street and I fell, [more...]
Date: 2009-03-03 01:49:28
GM Leads the Way with a 53% Sales Plunge
Congratulations of sorts go to GM for its industry leading sales effort. Please consider GM’s 53% U.S ... in U.S. loans. President Barack Obama’s auto task force may approve as much as $21.6 billion more aid ... loans, said its February U.S. sales plummeted 53 percent as the recession pushed industrywide [more...]
Date: 2009-03-03 20:58:00
Auto suppliers want US government bailout
Business: Of course they do and why not since everyone else is getting one. Auto suppliers are preparing to head to Washington to ask for government help in surviving a deep slump in car sales that has slashed the production of new cars and trucks to the lowest level [more...]
Date: 2009-02-01 06:32:50
Daily News Roundup - Feb 24 2009
ONGC’s onshore drilling schedules are expected to get delayed.(BL)Andhra Pradesh (AP) ... repurchases US$30mn worth FCCB.(BL)ICICI Bank to go slow on auto loans disbursal.(BL)Kingfisher ... and Gulf Coast to sell huge volumes of fuel.(FE)Banks refuse to finance term loans of Hindustan Oil [more...]
Date: 2009-02-24 03:59:00
DrumBeat: December 21, 2008
Shadowed by $200 oil It’s not too early to talk about the prospect of $200 oil ... of increases, according to a daily survey of gas station credit card swipes. Downturn Will Test Obama’s Vision for an Energy-Efficient Auto Industry His writings and speeches on the auto industry [more...]
Date: 2008-12-21 14:12:23
