March 2009 - Money Morning - Only the News You Can Profit From

Home Prices Drop Record 19% in January

By Don MillerAssociate EditorMoney Morning Home prices in the U.S. plummeted a record 19% in January from a year earlier, as demand plunged and foreclosures continued their relentless rise, according to an industry report released today (Tuesday). The January S&P/Case-Shiller index fell more than forecast and topped the 18.6% decrease in December. The gauge of […]

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The Slow Death of General Motors

By Martin Hutchinson Contributing Editor Money Morning U.S. President Barack Obama's firing of General Motors Corp. (GM) Chief Executive Officer G. Richard Wagoner Jr. may be the beginning of the final act of a long and sad drama – the slow death of GM. The company nameplate may soldier on in some form, but it […]

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Obama Rejects Automakers’ Reorganization Plans; Elevates Potential for Bankruptcy

By Jason Simpkins Managing EditorMoney Morning General Motors Corp. (GM) shares plunged more than 25% yesterday (Monday) – sparking a widespread stock-market sell-off – after U.S. President Barack Obama rejected turnaround plans that would have brought GM and Chrysler LLC billions in government rescue money and told the carmakers that bankruptcy might provide the best […]

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Global Investment News Briefs

Report: U.K. Financials Cutting More Jobs; OPEC Prez Forecasts $75/Barrel; Oil Falls With Global Stocks; Chalco Scaling Back Spending; S&P Cuts Ireland's Credit Rating; Investors Paid Cash for 40% of 2nd Home Purchases in 2008; Grain Prices Likely to Fall; Microsoft Settles Patent Suit The Confederation of British Industry forecasts that the United Kingdom's financial-services […]

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Geithner Hints Banks May Need More Bailout Funding

By Don MillerAssociate EditorMoney Morning U.S. Treasury Secretary Timothy Geithner made his first appearances on a host of talk shows on Sunday to promote the Obama administration's efforts to restart the economy. He also warned against attempts to tax investors who join a federal program to buy so-called "toxic" assets from banks. While Geithner hinted […]

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Why the Mining Sector Doesn't Need Banks

Money Morning Staff Reports In the magical world of FinanceLand, it seems evil Dr. Doom has landed on the capital (Stall Street), and with a zap from his freezing ray-gun, has permeated the landscape with a thick layer of frost.  The effect: Traditional sources of financing – indeed, virtually every type of credit – have […]

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