General Motors announced on Wednesday six more safety recalls on 717,950 U.S. vehicles.» Read More
GM insists discussions had started earlier in the year, but it seems like more than just a coincidence that just as GM is slammed for overspending (i.e. on those private jets) it's very publicly dropping its high-paid spokesperson.
The latest job cuts in the banking sector come amid an overall wave of layoffs across the United States as companies move to cut costs in the face of slackening demand and a general economic downturn.
The foundering Detroit automakers owe more than $100 billion to their bankers and bondholders, and Wall Street is starting to wonder how much of that will be paid back, the New York Times reports.
Have you been listening to political leaders talk about what it will take for the Detroit 3 and the UAW to get Washington to sign off on a bailout for the industry? If so, you've heard several key words and phrases used to describe what the auto makers need to do.
The key audacity was Rick Wagoner’s claim that he shouldn’t step aside because nobody else would really know how to successfully run General Motors. With a huge salary, big bonus, hot and cold running jets and a constant supply of new cars to drive, it’s understandable that Rick doesn’t want to give up his job. But he should.
Still feeling shocked by how much your portfolio has fallen in value in the past couple of months? With the holidays upon us, here is a look at the purchasing power those shares still have. After all, a share of Berkshire Hathaway can still buy you a Porsche 911.
Following are the week’s biggest winners and losers. Find out why shares of Hewlett-Packard popped while JP Morgan and the New York Times dropped.
President-elect Barack Obama's announcement of an economics team Monday may soothe some tensions in financial markets, but investors will keep their eye on the economy, credit crunch and most particularly, Citigroup.
In the past we've had some harsh words about Tim Geithner, the President of the New York Fed and now Barack Obama's choice to head the treasury department. As Jim said on tonight's show, however, we're going to keep an open mind and give Geithner a chance. Jim predicted Geithner would get tapped for Treasury, and though we had hoped for someone else, we're giving Geithner the benefit of the doubt.
Stocks rallied Friday, with the Dow soaring nearly 500 points, following news that Obama has picked Geithner as Treasury Secretary. Friday's gains helped offset much of the week's losses, pushing the Dow back above 8,000.
The one thing everybody seems to remember from the auto bailout hearings this week is the private jets.
Discount and dollar stores are back in fashion and back in the black. Just about everyone else has his back to the wall.
General Motors will extend its holiday shutdown or make other production cuts at five factories at as it deals with a continued U.S. auto sales slump and fights to stay solvent.
Stocks woke up Friday following news that President-Elect Barack Obama is expected to announce two key cabinet posts.
Back when things made sense in the stock market, a company announcing layoffs would be greeted as a positive sign that it was shoring up its bottom line.
Stocks bounced back Friday after a two-day selloff that saw major indexes crash through support levels and shaved 872 points off the Dow.
None of my recent pharma-related posts have received nearly as much feedback as I got from my off-the-reservation blog Thursday about Jetgate. The poll drew more than 2,000 votes yesterday, running 4-to-1 in favor of the CEOs of General Motors, Ford and Chrysler flying commercial instead of on private aircraft to and from Washington this week.
House Speaker Nancy Pelosi is saying that Congress is ready to help Detroit on one huge condition. "You show us the plan (for using $25 billion to become healthier companies) and will show you the money," Pelosi said.
As the Dow opened to the upside on Friday, Jack Welch, former General Electric chairman & CEO, shared his insights on Detroit, the economy and Wal-Mart's new CEO.
Sales of many high-end luxury cars are bucking the trend of plummeting car sales, and their makers and industry watchers at the Los Angeles Auto Show this week are confident that they will weather the industry downturn just fine.