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15 May 2009 20:47

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Biz, Politics: So, what’s next for GM’s laid-off dealers?

  • Good question. Maybe I’ll become a newspaper guy. I’ve been very fortunate. My kids are grown, college is done, weddings are done. I worry about my employees, though.
  • Chevy dealership owner Frank Videon • Who found out today that, after 53 years in the auto industry, GM was pulling the plug on his dealership. Regarding the newspaper thing: Haha, nice answer … jerk. (But we admit, we deserve it.) • source
Posted by Ernie Smith • 0 Comments • Permalink

15 May 2009 12:57

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Biz: GM begins its long, crazy trip to screwing over its dealers

  • 1,100 dealers learned today that GM’s not working with them anymore source
Posted by Ernie Smith • 4 Comments • Permalink

15 May 2009 12:46

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Biz, U.S.: Year-over-year consumer prices take a historic tumble

  • -0.7% That’s the biggest tumble since Elvis’ heyday source
Posted by Ernie Smith • 0 Comments • Permalink

14 May 2009 21:20

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Biz: Thought the Chrysler dealer cuts were bad? Check out GM’s.

  • 2,500 dealers will get no deals anymore; that’s 42% source
Posted by Ernie Smith • 0 Comments • Permalink

14 May 2009 12:04

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Biz: The quick, painful decay of Chrysler continues

  • 789 dealerships, or a quarter of its dealers, are going away source
Posted by Ernie Smith • 0 Comments • Permalink

14 May 2009 08:01

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Biz, U.S.: Former treasury secretary Paulson strong-armed the banks

  • If a capital infusion is not appealing, you should be aware that your regulator will require it in any circumstance. We don’t believe it is tenable to opt out because doing so would leave you vulnerable and exposed.
  • Former Treasury Secretary Henry Paulson • In a one-page memo of talking points prepared for a meeting last October, when he essentially forced the hand of nine banks the Bush administration felt were “central to any solution” to the credit crisis. The situation already sucked enough; did they really need to be strongarmed? • source
Posted by Ernie Smith • 0 Comments • Permalink

14 May 2009 07:48

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Biz: Wal-Mart’s profits stay almost exactly the same as a year ago

  • $3.02 billion in profits in both Q1 ’08 and Q1 ’09 source
Posted by Ernie Smith • 0 Comments • Permalink
 

13 May 2009 23:34

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Biz, U.S.: Cheerios’ health claims are a little too blatant for the FDA

Cheerios claimed in too big of type it was heart-healthy for the FDA’s liking. General Mills says the claims of healthiness are accurate. source
Posted by Ernie Smith • 0 Comments • Permalink

13 May 2009 12:40

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Biz, U.S.: Let’s pour a 40 for the Craiglist “Erotic Services” section

  • It’s so hard to say goodbye to yesterday’s erotic massages. After much prodding from attorney generals across the country, not to mention the terrible PR of a guy labeled the “Craiglist killer” killing massage therapists all over the Boston metro area, Craigslist is finally getting rid of one of their most, uh, popular sections, the “Erotic Services” section. It’ll be replaced with a moderated adult category which we’re sure is going to put massage therapists working out of sketchy hotel rooms out of work. source
Posted by Ernie Smith • 0 Comments • Permalink

13 May 2009 09:09

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Biz, U.S.: Nothing like watching foreclosures accelerate in speed

  • April was a shocker. I would have bet on a dip because March foreclosures were so high.
  • RealtyTrack spokesman Rick Sharga • On April’s cruddy foreclosure numbers, which saw a record 342,000 homes receiving default notices. On the plus side, though, repossessions fell 11%. Still though, that’s like saying torture’s way up but beheadings are down. • source
Posted by Ernie Smith • 0 Comments • Permalink
 
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