Wahoo! I invested in General Motors
According to the Planet Money blog I just invested $192 in General Motors. Wonder if that employee/owner discount will cover the money I expect to lose on the investment.
Boiling Blood
I came across two stories in recent days that make my blood boil. One even used the term. The first was from the Planet Money blog and pointed me to Joe Nocera’s NY Times column. He talks about the AIG mess and how the company has to be kept alive: And yet — and this [...]
Citigroup Survives Management Failure
The New York Times is reporting that the government has approved a plan to “stabilize” Citigroup. MarketWatch also has some details. The plan includes a $20 billion cash injection via preferred stock with an 8% dividend. The government also gets to approve executive compensation, but I repeat, how do these folks deserve anything other than [...]
Citigroup: Another Management Failure We’ll Rescue
Citigroup has been in the new recently, since they announced that they’ll eliminate another 52,000 jobs, on top of a previously announced 22,000. Citigroup had a peak employment of 375,000 in 2007 so 1 out of 5 Citigroup emloyees have been affected. According to news reports about 1/2 the reductions will come from business sales. [...]
Circuit City Implosion
The recent news about the Circuit City bankruptcy tends to blame it on the economy and competition from the internet. Sorry folks, seems to me this was clearly due to wounds inflicted by it’s own poor management. The only good news is that there doesn’t appear to be any taxpayer bailout money involved. I used [...]
Can We Go Back? Please!
A couple finance stories caught my eye recently. While stockholders in general are bummed about the state of the market, there’s a couple groups that are more bummed than others. At least others can see an upside down the road (even if it’s years down the road), but Yahoo and and Circuit City owners may [...]
Paid For Failure
According to Fox News Washington Mutual’s new CEO will be paid $20 million for his 17 days on the job before his company collapsed. MSNBC.COM lays out a scenario where taxpayers could pay billions. U.S. taxpayers, meantime, could end up shouldering billions of dollars worth of shaky mortgages and other investments that contributed to WaMu’s [...]
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