A major US retailer announced job cuts Monday amid worries about the fate of the stimulus plan, while a big Wall Street firm has further job cuts in store, according to reports.
A major US retailer announced job cuts Monday amid worries about the fate of the stimulus plan and the economy.
For GM and Chrysler, this is when the good stuff will start happening. After a month of seeing relatively little from GM and Chrysler about how they plan to restructure their operations, we could be on the verge of a couple busy months.
In truth, few Super Bowl car ads ever really stick with viewers. Think about it? How many can you remember? Aside from Cadillac's "break through" ads featuring Led Zeppelin, few have staying power.
More companies announced layoffs on Thursday as the employment picture continued to dim.
Government bail-outs in the wake of financial wreckage have inundated news headlines across the globe. Capital injections by the government into leading American banks under the U.S. Troubled Asset Relief Program (TARP) have been redefined across multiple sectors. With so many institutions holding bad assets and seeking to tap TARP, a new index by the NasdaqOMX Group was introduced as the Government Relief Index (QGRI) to track the performance of U.S. listed companies that are participants of U.S. government sponsored relief programs such as TARP.
Any time a company burns through 59 million dollars in cash every day, it's not good. But for Ford, burning through $5.5 Billion in the fourth quarter is a huge improvement from burning 83 million dollars a day in the third quarter.
Despite the downturn in advertising — some experts expect overall ad spending to drop nine percent this year — the biggest ad event of the year is thriving.
The United Auto Workers will suspend its jobs bank program at General Motors next Monday, CNBC confirmed.
I asked the questions, and you told me in no uncertain terms what you think the President should do with the auto makers. Your reasons for each answer varied, and there were some you disagreed on more than others. With that said, let me give you a sense of some answers.
We need a coherent plan for dealing with troubled companies, not just the financials but also the automakers that have borrowed federal money like General Motors and Chrysler. If you ask me, we should nationalize everything we can get our hands on.
More companies announced layoffs on Tuesday as the employment picture continued to dim.
"We don't always know which ones are going to be the amazing turnarounds," says one market pro. "But there's opportunity out there, there's no question about it."
I hear it all the time. "Those guys know how to build a car that can get 50 MPG, but they just don't want to."
You know what's worse than finding out that Citigroup is buying a $50 million top-of-the-line corporate jet? Finding out that Citi actually owns a whole subsidiary called CitiFlight that manages its fleet of corporate jets.
Another round of layoffs was announced by big-name companies Monday, adding to the gloom over rising unemployment.
When I strolled into the New Orleans Convention Center this weekend for the National Auto Dealers Association annual meeting, I expected optimism. Even in a recession, these guys are sales people. It's what they do.
General Motors said in a Securities and Exchange Commission filing Friday that it used the proceeds of an $884 million Treasury department loan to increase its equity stake in its financing arm to about 60 percent.
The Nasdaq launched a Government Relief Index on Jan. 5 to measure the performance of companies receiving TARP money, and now investors want a piece of the action.
Wondering what President Obama is planning to do to save the auto industry? Just ask some of the people the President's advisors have been consulting.