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03 Jun 2009 10:20

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Biz, U.S.: GM’s bankruptcy is not going to help Michigan’s economy one bit

  • 780,000 number of jobs lost in Michigan in the last decade; that’s a LOT source
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02 Jun 2009 11:07

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Biz, U.S.: GM sez parties making interested rings around Saturn

  • 16 interested parties approached GM about buying the brand source
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02 Jun 2009 10:24

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Biz: People are all about those foreclosed home deals

  • 6.7% increase in pending sales of existing homes in April source
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01 Jun 2009 22:08

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Biz: First to go in the GM bankruptcy? The corporate jets.

  • 7 number of “not necessary” corporate jets GM wants to ditch source
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01 Jun 2009 21:21

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Biz, Tech: Web advertising is more like the stock market nowadays

  • It’s nice to be able to tell your brand manager or the chief marketing officer which audience is interacting with the unit, what time of day, what day of the week, and what the response is on certain types of offers. Before, nobody could really tell you that.
  • Darren Herman • President of Varick Media Management, on what his company does – looks at statistics on how people are reacting to web advertising, rejiggers some things, and reacts accordingly. The large selection of statistics online make this much easier than it used to be and allow you to track response much better than you could with say, a billboard. As a result of the new data-heavy approach, it’s starting to make sense for laid off workers in the financial industry to move over from Wall St. to Madison Ave. • source
Posted by Ernie Smith • 0 Comments • Permalink

01 Jun 2009 21:12

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Biz, U.S.: Currently on Obama’s plate: Financial industry regulation

  • How do we make sure this never happens again? Re-invent FDIC? Kill the Office of Thrift Supervision? Throw out the rule book? The Obama administration is considering all sorts of MacGyver-like techniques to prevent future financial industry screw-ups. Don’t expect them to combine a bunch of organizations together like a puzzle, though. Obama doesn’t think he’ll get enough political support for that, and even some of his closest colleagues in Congress think it’s a bad idea. source
Posted by Ernie Smith • 0 Comments • Permalink

01 Jun 2009 10:39

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Biz, U.S.: How did General Motors go from pioneering to bankrupt?

General Motors circa 1906
  • There’s a long, winding story of how GM got from hand-crank to Hummer to handouts. For a company this essential to our country – especially the Midwest, but really everywhere – it’s a sad, bastardized legacy.source
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01 Jun 2009 08:57

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Biz: An acquisition pays off in the form of a landmark cancer drug

  • $500 million The amount French drugmaker Sanofi-Aventis SA paid for BiPar Sciences Inc. of San Francisco, which has just 18 employees source
Posted by Ernie Smith • 0 Comments • Permalink

01 Jun 2009 08:44

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Biz, U.S.: Big auto news #2: GM files for bankruptcy protection

  • One of the country’s greatest icons of industry is no longer independent. After years of mounting losses and an inevitable couple of weeks, General Motors filed for bankruptcy this morning. source
  • The automaker, which has been eroding market share since the ’80s and lost $30 billion last year alone, will likely be 60% owned by the federal government, which is sarcastically awesome. source
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01 Jun 2009 08:31

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Biz, U.S.: Big auto news #1: Judge approves Chrysler’s Fiat sale

  • A speedy bankruptcy Chrysler, which has been trying to breeze through its bankruptcy as quickly as possible so it doesn’t lose its value in the meantime, got federal bankruptcy Judge Arthur Gonzalez to approve the sale of most assets to Fiat. source
  • A speedy bankruptcy Chrysler, which has been trying to breeze through its bankruptcy as quickly as possible so it doesn’t lose its value in the meantime, got federal bankruptcy Judge Arthur Gonzalez to approve the sale of most assets to Fiat.
  • A needed merger In case you’re wondering why this sale happened so quickly, it’s because the Obama administration is putting its muscle behind it. They made it the centerpiece of the automotive task force’s recommended reconstruction plan. source
  • A speedy bankruptcy Chrysler, which has been trying to breeze through its bankruptcy as quickly as possible so it doesn’t lose its value in the meantime, got federal bankruptcy Judge Arthur Gonzalez to approve the sale of most assets to Fiat.
  • A needed merger In case you’re wondering why this sale happened so quickly, it’s because the Obama administration is putting its muscle behind it. They made it the centerpiece of the automotive task force’s recommended reconstruction plan.
  • Sticking points Not everyone’s behind this merger – among the scorned lovers include a number of auto dealerships about to lose their franchises, some pension funds in Indiana with a $42.5 million stake, suppliers and ex-employees. source
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