Donald Trump: We’re in a depression. He says so.

Let’s face it, Larry, we are in a depression. If they didn’t do the bailout, you would be in depression No. 2 and maybe just as big as depression No. 1, so they really had to do something.
Donald Trump • talking to Larry King about the economy and the banks. Trump says that the executive salary caps are necessary and that the big problem is that banks aren’t loaning out their bailout money and instead are using it for other things. • source

Posted by Ernie Smith • 0 Comments • Permalink

Posted by Ernie Smith • 0 Comments • Permalink

Fiat to buy stake in Chrysler? Chrysler’s under the gun after getting $4 billion from the auto industry bailout, so it’s looking for some outside help. It needs to come up with a plan to stay alive to show to the U.S. government by March 31. Enter Fiat, the Italian car manufacturer with a long history of foreign interests. source

Fiat to buy stake in Chrysler? Chrysler’s under the gun after getting $4 billion from the auto industry bailout, so it’s looking for some outside help. It needs to come up with a plan to stay alive to show to the U.S. government by March 31. Enter Fiat, the Italian car manufacturer with a long history of foreign interests.
Scratching each other’s backs Fiat at the very least would offer some help to Chrysler. Both would benefit from the deal. Chrysler gets access to Fiat’s experience in building efficient small-to-medium-size cars; Fiat gets a foothold in the American market to introduce some of its vehicles to the States. Win-win, right? source

Posted by Ernie Smith • 2 Comments • Permalink

A minor glimmer of hope. Despite the forthcoming closing of the No. 2 electronics retailer in the country, an investor could still come to save the business. Otherwise, they’ll start liquidating, with an end date of March 31. Their Canadian business will remain open. source

A minor glimmer of hope. Despite the forthcoming closing of the No. 2 electronics retailer in the country, an investor could still come to save the business. Otherwise, they’ll start liquidating, with an end date of March 31. Their Canadian business will remain open.
An online business? Circuit City does about $1 billion in online-only sales, and there’s still a chance they could come back as an online retailer. “This would eliminate overhead costs, vendor conflicts and other issues,” said Love Goel, CEO of Growth Ventures Group, an investment banking firm. source

Posted by Ernie Smith • 0 Comments • Permalink

It’ll be fun to see them try to pull this off. Someone needed to combine the philosophy of Digg with a print product, right? And these guys are all about it – it appears that they’re not newspaper people, even, but smart people with a good idea (and hopefully, money). One interesting thing to note is that they plan to ultra-localize the content they distribute, with the possibility of 100 print editions in Chicago alone (!). Watch out for this one. source

Posted by Ernie Smith • 2 Comments • Permalink

Posted by Ernie Smith • 1 Comment • Permalink

05 Feb 2009 11:45