The Masters is full of religious overtones since the most famous three holes in golf make up the "Amen Corner." We're in a bit of a dream-like state with the market right now after Wells Fargo's announcement last Thursday that banks can indeed make money.
You can hear them virtually everywhere. You can call them pessimists, but I prefer the term realists. They are people within GM, the Obama administration, the auto industry, and elsewhere who now see GM filing for bankruptcy as the best move for a company with few good options.
Stocks looked set to fall at the start of trading Monday, with the Treasury Department instructing Dow component General Motors to prepare a contingency plan for bankruptcy.
With stocks rallying for 5 weeks in a row now, dividend yields are falling back to Earth. The average dividend yield of the Dow 30 has fallen over 25% since the rally began in early March. See how the 30 companies in the Dow compare.
The Treasury Department is directing General Motors to lay the groundwork for a bankruptcy filing by a June 1 deadline, despite GM's public contention that it could still reorganize outside court, the New York Times reports.
With General Motors now negotiating with debtors and union leaders for a drastic revision to current agreements, it's time to stand back and reflect on the bigger impact of this drama.
Inspired by AIG? Humored by unemployment? As humbling as the economic crisis has been, some creative characters have managed to find inspiration amid the wreckage of the economy and their personal lives.
The auto task force, lead by Steven Rattner, wants GM to emerge with as little debt as possible once the restructuring process is done, according to numerous sources familiar with the situation.
The New York Auto show opens its doors to the public this holiday weekend to an ever more economy-conscious public. Click to see what they have to offer.
Shortly after the doors opened to press days at the New York Auto Show someone asked me, "Do these auto shows really serve a purpose anymore?"
Because of the money it borrowed nearly three years ago, Ford is in far better shape than its two crosstown rivals, GM and Chrysler. The loans have kept it independent and on a course to survive the worst new-vehicle market in nearly 30 years.
Aggressive price cuts and a lack of good-quality used cars has sent the price of some new autos below their second-hand equivalents, the Financial Times reported Thursday.
Stocks snapped a two-day slide on Wednesday largely due to optimism about insurance firms and retailers.
Is bailout nation about to strike again? Sure looks like it. According to this morning’s front-page Wall Street Journal story, life-insurance companies are about to get TARPed. This is nuts.
Chrysler is working hard to complete a deal with Fiat, but is also prepared if the deal doesn't go through, Vice Chairman and President Jim Press told CNBC Wednesday.
As I walk around the New York Auto Show and talk with executives from GM, Toyota, and Chrysler there is one question you hear over and over: Are buyers actually coming back into showrooms?
Stocks slipped Tuesday as investors fretted over the state of the banking industry and braced for what could be a dire first-quarter earnings season.
Do Pres. Obama and Treasury man Geithner want to control the banks, just as they have taken over GM? Will the government assert political direction of the financial system in place of market forces, or in place of the rule of law as enforced by bankruptcy judges?
Stocks slipped at the open Tuesday as investors fretted over the state of the banking industry and braced for what could be a dire first-quarter earnings season.
The bankruptcy option for GM seems to be gaining momentum. If the automaker does file for Chapter 11 protection, are you worried about unitended consequences?