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17 May 2010 09:38

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Biz: GM’s financial outlook: What a difference a bailout makes

  • 40% increase in quarterly sales
    for the automaker
  • $865
    million     the company’s profits this quarter, their first since 2007
  • $6
    billion     the company’s losses in the same quarter a year ago source
Posted by Ernie Smith • 0 Comments • Permalink

10 May 2010 10:57

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Biz: Which mortgage firm is asking for another government handout?

The company lost $13.1 billion in their last quarter, so now they’re hitting up the government for another $8.4 billion. Fannie’s too big to fail. source
Posted by Ernie Smith • 0 Comments • Permalink

09 May 2010 20:29

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World: Greece gets the first part of that massive aid package of theirs

  • $38.6B
    will get loaned to Greece over the next three years by the IMF
  • $7B
    hits the country’s coffers as of right now; the rest comes later
  • $141B
    was offered to the country in an aid package accepted last week source
  • » Will this improve the country’s dismal state? It’ll improve the global market most likely but won’t ease tensions among its citizens. The extremely unpopular austerity measures were a condition of the aid package they got from the IMF, European Central Bank and European Commission. So they’re not going away, kids.
Posted by Ernie Smith • 0 Comments • Permalink

21 Apr 2010 10:16

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Biz: Chrysler: Big losses, bright spots since exiting bankruptcy

  • $4
    billion     the amount Chrysler has lost
    since exiting bankruptcy; they’ve turned a corner though
  • $143
    million     the company’s operating profit
    this quarter, due to all the cuts
    they’ve made source
Posted by Ernie Smith • 0 Comments • Permalink

26 Mar 2010 23:35

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Biz: The U.S. could make bank by selling their Citibank bailout stake

  • 27%
    stake     the share of bailed-out Citibank the government currently owns
  • $8
    billion     amount they’d make on their investment if they sold today source
Posted by Ernie Smith • 0 Comments • Permalink

23 Mar 2010 20:41

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Biz: Obama’s pay czar to bailed-out firms: Time for another pay cut!

  • 15% average pay cuts for highly-paid workers at bailed-out firms
  • 33% average pay cuts for their non-stock cash payments source
Posted by Ernie Smith • 0 Comments • Permalink

12 Mar 2010 10:32

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Biz: Lehman Brothers’ poison of choice named Repo 105

  • Among the toxins discovered was something called Repo 105. … Even if Repo 105 wasn’t lethal it was certainly poisonous.
  • Reuters columnist Antony Currie • Regarding the accounting trick that seems to have done in Lehman Brothers, among other things. An autopsy of the company’s corpse suggests that many of the top leaders – including CEO Richard Fuld – were responsible for a culture of ineptitude that allowed the company to fall apart, especially in its last year. Need a face for the financial crisis? Here’s a good one. source
Posted by Ernie Smith • 0 Comments • Permalink
 

08 Mar 2010 11:09

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Politics: Is Timothy Geithner getting the credit he deserves?

  • Barring something unexpected, the bailout will end up costing taxpayers less than the savings-and-loan implosion of the early nineteen-nineties. The government could conceivably end up making money.
  • New Yorker writer John Cassidy • Regarding Treasury Secretary Timothy Geithner’s much-maligned financial plan, which appears to be much less of a nightmare than it seemed a year ago. While many things are imperfect – the high unemployment rates and the bank’s seeming lack of desire to loan money to small business – it is looking like the government’s plan will likely put them in cash flow positive while helping to get the weakened economy out of its doldrums. Will Geithner get credit, though? source
Posted by Ernie Smith • 0 Comments • Permalink

08 Feb 2010 10:18

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Biz: CIT Group’s new CEO, John Thain, knows a thing or two about bailouts

  • $6
    million     amount of money John Thain will make in his first year as CEO for the emerging-from-bankruptcy small business creditor CIT Group
  • $15
    billion     amount of money Merrill Lynch lost on his watch in the fourth quarter of ’08; is this really the right guy for this particular job? source
Posted by Ernie Smith • 0 Comments • Permalink

28 Jan 2010 20:17

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U.S.: Ben Bernanke reconfirmed because he recovers well after a fall

  • Chairman Bernanke’s performance in addressing the economic crisis and his current efforts to significantly enhance financial regulation to help prevent future crises outweigh his past mistakes.
  • Michigan Sen. Carl Levin • Discussing why Ben Bernanke was worthy of getting reconfirmed as Federal Reserve Chair, despite populist sentiment against a guy seen as one of the main causes for the financial crisis. Ultimately, it was his inventive solutions to tough problems that saved his job. While not always graceful, he did successfully help get the economy back on track. source
Posted by Ernie Smith • 0 Comments • Permalink
 
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