By Mike CaggesoAssociate Editor Money Morning With $17.4 billion owed to the U.S. government amid falling auto sales, General Motors Corp. (GM) and Chrysler LLC may be forced into bankruptcy to reassure loan repayment. And in a separate story yesterday – which underscores that the auto sector's woes are going global – Nissan Motor Corp. […]
Archives for February 2009
February 2009 - Page 8 of 11 - Money Morning - Only the News You Can Profit From
As Stimulus-Package Debate Continues in Congress, New-Look Bank Bailout Plan is Set to Debut This Week
By William Patalon IIIExecutive EditorMoney Morning/The Money Map Report As the worst financial crisis since the Great Depression continues to worsen, decades of deregulation and the growing independence at the state level are being reversed as a deteriorating national economy forces the federal government to increasingly take on responsibilities that no other institution has the […]
Mutual Funds With Low Minimums Can Put Investors Back on the Winning Path
[Editor’s Note: This is the first installment of a new series that will explore sound strategies for investing during the ongoing financial crisis.] By William Patalon III Executive Editor Money Morning/The Money Map Report Just this week, a friend told me that he wanted to jump-start his long-neglected saving-and-investing efforts, but was worried it wouldn’t […]
Are We Nearing a Housing Market Bottom?
By Mike Caggeso Associate Editor Money Morning It’s been a long, downslide for homeowners or anyone trying to buy a house. But a Moody’s Economy.com report, “Housing in Crisis: When Will Metro Markets Recover?”, says we could be nearing the end. Specifically, the study estimates that: House prices will stabilize by the end of this […]
Watchdog Agency Says TARP Overpaid $78 Billion for Bank Assets
By Don MillerAssociate EditorMoney Morning The watchdog agency overseeing the Troubled Asset Relief Program (TARP) said Friday that the Treasury Department paid banks $78 billion more for assets than they were worth. The Congressional Oversight Panel said the Treasury dispersed $254 billion for capital purchases of bank assets worth about $176 billion under the TARP […]
Auto Suppliers in Discussions with Treasury Over Bailout
By Jason SimpkinsManaging EditorMoney Morning U.S. companies that make and supply auto-parts to major carmakers could seek as much as $25.5 billion in government aid, the Motor & Equipment Manufacturers Association (MEMA) said in a statement. "We have had constructive conversations with Treasury and elected officials in Washington, but no official request has been submitted […]
U.S. Unemployment Reaches Another Record, Still Looking for Ceiling
By Mike Caggeso Associate Editor Money Morning The U.S. unemployment rate rose to 7.6% in January, the highest level since 1992, as payrolls knocked off 598,000 jobs to start the year. The nearly 600,000 jobs is the biggest monthly loss since December 1974. Since the recession began in December 2007, 3.6 million jobs have been […]
The Market's Safest Sector Also Has Enormous Potential to Rise
In the past few years, a strange new "defensive" asset has appeared in the market. Investors use the "defensive" label to describe businesses that enjoy steady demand for their products – like food, cigarettes and electric utilities. The thinking goes, you want to own these sectors when the economy stinks. Their sales and cash flows […]
Global Investing News Briefs
MasterCard Posts 4Q Profit; Buffet's Berkshire Investing in Swiss Re; Rogers Staying Out of Russia; Ford in Volvo Talks with Geely Auto; Louis Vuitton Misses on Earnings; Brown Refuses to Ban Bonuses; Mortgage Rates Jump; Retail Trade Group Wants Tax Holidays MasterCard Inc. (MA) reported better-than-expected fourth-quarter earnings, surprising some analysts given the tightened credit […]
Financing the Stimulus May be a Massive Challenge, Treasury Market Shows
By Martin HutchinsonContributing EditorMoney Morning As I watch the $900 billion stimulus bill wind its way through Congress, knowing this will be piled atop the estimated 2009 deficit of $1.19 trillion, the longtime banker in me keeps asking the same worrisome question: How the devil are they going to finance all this rubbish? A report […]