While manufacturing alone no longer dominates the state's economy, its fortunes still rise and fall with the health of the state's industries.» Read More
For the week ending Friday, September 5, 2008, the U.S. markets ended in negative territory for the week after weak employment data and declines in auto and retail sales pointed to weaker consumer spending and a greater economic slowdown. The unemployment rate jumped to a 5-year high, soaring to 6.1%. On Thursday, the three major Indices fell back into bear market territory by dropping 20% from their market peaks set last fall. Both the Dow & Nasdaq Composite had their worst daily closes since July 26, with drops of more than 340 points for the Dow and 75 points for the Nasdaq.
A friend of mine said something the other day that surprised me. He said nothing, and I mean nothing, gets him stoked about the latest models out on the road right now. I suspect it's because he is like many other people and is tired of seeing cars touted for their fuel efficiency more than anything else.
The unemployment rate zoomed to a five-year high of 6.1 percent in August, proof of the mounting damage the economy is inflicting on workers and businesses alike.
Stephen A. Feinberg, one of the country’s most powerful — and secretive — financiers, hoped to make a fortune out of the detritus of the American auto industry. Instead, he seems to be losing one, reports the New York Times.
Much of Chryslers slump can be blamed on the fact trucks and SUVs have fallen out of favor because of high gas prices. And since Chrysler has the greatest exposure (percentage wise) to the so-called "gas-guzzlers" among the Big 3, it's suffering big time.
Rapid changes in the commodities market have left some investors badly bruised to say the least. However lower gas prices are good, right? Should you cheer or fear the drop in oil?
Stocks ended mixed Wednesday as economic worries continued to rain down on the market and dampen the post-Gustav rally. All three major indexes had been negative for most of the day, but the Dow tip-toed over the line at the last minute, helped by a 5% gain in GM.
Stocks wobbled Wednesday as economic worries continued to rain down on the market and dampen the post-Gustav rally.
Stocks wobbled Wednesday as economic worries continued to nag the market and rain on the post-Gustav rally.
It's getting harder to find a car to lease these days. Chrysler's financial arm recently pulled out of the car leasing business, and Ford Motor Credit, GMAC and many large banks also have announced pullbacks.
This morning BMW's president for North America told me something that might surprise more than a few people in the auto industry.
The Clean Energy Fuels CEO explains why a ballot initiative state will be a big boon to his company.
Filled up the tank lately? I have, and it's nice to see the cost of gas has come down a bit. I wouldn't call it a huge drop, but enough that it's noticeable.
A top General Motors executive said Thursday that automakers were “deserving” of as much as $50 billion in government-backed loans so that they can build more fuel-efficient cars, the New York Times says.
There's an interesting theory when it comes to the SUV market. It goes like this: now is the best time to buy an SUV because the used market has bottomed out and prices will soon start going up. The more I've heard this, the more I've talked with dealers. And you know what their reaction is? A good laugh.
Stocks advanced Thursday after second-quarter GDP was revised to show growth was more robust than first thought and oil receded to around $116 a barrel after earlier topping $120.
Stocks advanced Thursday after second-quarter GDP was revised to show growth was more robust than first thought and oil receded to around $118 a barrel after earlier topping $120.
See, even mighty Toyota Motor is shifting into a slower gear. This morning in Tokyo, the company gave its business outlook for 2009 and beyond. It was mixed -- which is not surprising, given the economy. Here's Toyota's plan to stay ahead.
Since I've started this blog I've have had people react strongly to some of the things I've said. But NOTHING compares to the e-mails I've read after advocating the need for Federal loans to help the Big 3 automakers re-tool and rebuild their operations.
Cramer makes the call on viewers' favorite stocks.