An Obama administration task force considering the fate of General Motors and Chrysler is discouraging bankruptcy protection as an option for the struggling companies, two senators said Tuesday.
Executives with Wachovia and Buick better start scaling back now because this much is now clear: If you or your parent company are receiving federal funds as part of the bailout, having big bashes and spending big money at sporting events is no longer acceptable.
Remember when Barack Obama was campaigning for President and he went to Detroit with a very unpopular message in Motown? In essence he told an audience filled with auto execs it was time for them to start building fuel efficient vehicles, hybrids, and models that would lead Detroit out of its money losing ways.
Finishing the day at 7,114.78 yesterday, the Dow closed at its lowest level since May 7, 1997. 7 of the 30 current Dow components were not in the index when the Dow last saw these levels.
The development boom that turned Poland, Hungary and other former Soviet satellites into some of Europe’s hottest markets is on the verge of going bust, raising worrisome new risks for the global financial system that may ricochet back to the United States.
The Dow and S&P slumped to 11-year lows on Monday as investors lost faith that the U.S. government will be able to stabilize the financial system.
Stocks fell flat as investors grew more confident that the government will stabilize the battered financial sector, but technology remained weak.
The man many thought would be "Car Czar" will now be leading the task force looking at how to fix General Motors and Chrysler. Steven Rattner is joining the Obama team as counselor to Treasury Secretary Timothy Geithner.
As the Dow now contains five stocks under $10 (GM, C, BAC, AA, & GE), the Dow Industrials index has come under greater scrutiny on whether it is still a good gauge of the overall market.
With the UAW and Ford announcing they have agreed on a plan to re-work funding of union's Voluntary Employee Beneficiary Association, it is an important step not only for Ford, but GM and Chrysler as well.
The U.S. unemployment rate -- now at 7.6 percent, the highest in more than 16 years -- is expected hit a peak of 9 percent this year, according to the latest survey by the National Association for Business Economics to be released Monday.
When I woke this morning and surveyed what the morning papers carried about the auto industry, one article in the Detroit News about what cars the Obama Auto Team members own caught my attention -- It brings up the question: Will the cars these members drive influence their decisions regarding GM and Chrysler?
Regarded as a safe investment, gold often shines during turbulent times when increased demand typically drives up prices. For the first time since last March, gold settled above $1,000 an ounce on Friday. Since its low back in November, when gold was just over $700 an ounce, the bullion has risen 42%. During the same period the S&P 500 has plunged 15%.
US stock index futures pointed to a higher open Monday as shares of Citigroup soared over 25 percent in pre-market trading, following reports the government could up its stake in the Wall Street giant.
The performance of certain companies will tell us how well the new president’s doing.
The Oscars aren't just the biggest night of the year for film buffs and the celeb-obsessed, they're also one of the biggest annual events for advertisers, second only to the Super Bowl.
Halfway through the trading day, GM shares hit levels not seen since 1938....A lot investors are starting to wonder if GM stock is worthless.
With the markets testing new lows, here are the [surviving] S&P 500 companies that have fallen / gained the most since the market peaked on October 9, 2007.
Friday: Bank nationalization is the big topic du jour. Everyone seems to dislike the idea, but more and more analysts are begrudgingly calling nationalization the inevitable next move in the financial crisis. UBS widened its tax probe; a survey of U.S. homeowners showed more depreciation; and gold rose over $1,000 on investors' flight to safety. CNBC heard from experts who said the U.S. dollar will emerge as the ultimate safe haven; and Citigroup and Bank of America will indeed survive.
The Presidential Automotive Task Force is meeting today, and there is no shortage of advice for them from the Street.