William Patalon III

Wracked by Problems, the U.S. Economy Keeps Digging Its Way Out

By William Patalon III Executive Editor Money Morning/The Money Map Report Where to start?  Market volatility is sure to continue for the indefinite future as investors, economists, analysts and politicos debate the merits of the federal government’s ongoing move – and try to make heads or tails out of the new financial landscape. Mega-financials that […]

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The Government's Financial Crisis Fix-it Plan Sends Stocks Soaring, Though Some Argue There's no Quick Fix for this Disaster

By Jennifer Yousfi, William Patalon IIIAnd Jason Simpkins Money Morning Editors U.S. stocks rallied the most in six years yesterday (Thursday) – with traders actually cheering the ticker action from the floor of the New York Stock Exchange – on the news that the federal government is taking steps to shore up the unraveling U.S. […]

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Buyout of Merrill and Bankruptcy of Lehman Heightens Worry of U.S. Credit Crisis Pain Still to Come

By William Patalon IIIAnd Jennifer YousfiMoney Morning Editors After a weekend in which the deepening U.S credit crisis sent one top investment bank to bankruptcy court and a second into the arms of a “White Knight” suitor, U.S. stocks yesterday (Monday) recorded their worst day since the 9/11 terrorists attacks seven years ago. Indeed, the […]

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With Buyout of Merrill, Bankruptcy for Lehman, Wall Street Plays "Let's Make a Deal"

By William Patalon IIIExecutive EditorMoney Morning/The Money Map Report In one of its wildest and weirdest stretches ever, Wall Street entered a weekend awaiting a government bailout of Lehman Brothers Holdings Inc. (LEH) and exited with Merrill Lynch & Co. Inc. (MER) agreeing to sell itself to Bank of America Corp. (BAC) for nearly $50 […]

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With Buyout of Merrill, Bankruptcy for Lehman, Wall Street Plays "Let's Make a Deal"

By William Patalon III Executive Editor Money Morning/The Money Map Report In one of its wildest and weirdest stretches ever, Wall Street entered a weekend awaiting a government bailout of Lehman Brothers Holdings Inc. (LEH) and exited with Merrill Lynch & Co. Inc. (MER) agreeing to sell itself to Bank of America Corp. (BAC) for […]

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Hurricane Ike is the Latest Wild Card in the "Guess the Gasoline Price Game"

By William Patalon IIIExecutive EditorMoney Morning/The Money Map Report Last week’s crude and gasoline inventories dropped more than expected as the effects of Hurricane Gustav resulted in some production disruptions. Gustav, which struck last month, was the fourth-most-destructive storm to hit the United States, causing $20 billion in damages. And then came Hurricane Ike. Ike […]

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With Tanker Deal Shelved, Boeing Must Dig in For Possible Long Strike

By William Patalon IIIExecutive EditorMoney Morning/The Money Map Report Just one day after The Boeing Co. (BA) was notified that a multi-billion-dollar U.S. Air Force tanker competition has been put on hold, the embattled aerospace firm said it was steeling itself for a long strike by its hourly work force. Boeing's commercial aircraft production areas […]

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Foreign Bondholders – and not the U.S. Mortgage Market – Drove the Fannie/Freddie Bailout

By William Patalon III Executive Editor Money Morning/The Money Map Report For anyone who still doubted the growing global influence of such emerging powerhouses as China, consider this: The U.S. government's decision to take control of foundering mortgage giants Fannie Mae (FNM) and Freddie Mac (FRE) was driven not by worries about the fading U.S. […]

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New Look General Electric Aims to Double its China Business by the Decade's End

By William Patalon IIIExecutive EditorMoney Morning/The Money Map Report General Electric Co. (GE) expects its business in China to double to $10 billion a year by 2010, as the U.S. industrial giant aims to overcome a sputtering U.S. economy by ramping up its emerging-markets focus.  "We've seen great growth in China," GE Chief Executive Officer […]

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With OPEC Meeting Looming, and Emerging Markets Growing, Oil Prices May Only be Temporary

By William Patalon IIIExecutive EditorMoney Morning/The Money Map Report Analysts are trumpeting the recent drop in oil prices as a step toward normalcy. But is this celebration premature? Or perhaps even misplaced? After all, we all know that over the long haul, energy prices are headed in only one direction – higher. Crude oil plunged […]

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News About Warren Buffett, Jim Rogers and the Presidential Elections are Money Morning Highlights; More to Come This Week

By William Patalon IIIExecutive EditorMoney Morning/The Money Map Report Although the Money Morning staff was off enjoying the Labor Day holiday today (Monday) – meaning that we didn't publish a regular issue today – I thought it was a good time to call your attention to several important stories that we have run over the […]

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Boeing Threatens to Pull Out of $35 Billion Air Force Tanker Program

By William Patalon IIIExecutive Editor Money Morning/The Money Map Report The Boeing Co. (BA) doesn’t believe it can win the controversial competition for a $35 billion U.S Air Force tanker contract without a six-month extension, and now has threatened to pull out of the competition altogether. The Chicago-based Boeing said it wants the extension to […]

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Worrisome Stagflation Becomes More Real All the Time

By William Patalon III Executive Editor Money Morning/The Money Map Report U.S. Federal Reserve Chairman Ben S. Bernanke didn't use the "S" word – stagflation – but he might as well have. On Friday, the U.S. central bank chief said that the financial crisis that has hammered the U.S. market is combining with rising inflation […]

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