Reading Time: < 1 minute GM was replaced by Cisco; Citi replaced by Travellers. Source: WSJ. (you may need to get the full article via Google). Interesing part (for me), quote WSJ: Why choose a tech company, Cisco, to replace an automaker? We did not need another consumer goods company after adding Kraft Foods when we removed AIG. In looking
Reading Time: < 1 minute GM is going to file bankrupcy. This was not expected 6 months ago. But it’s a reality now. Many people blame the UAW, the management for the problems at GM, which I think only tells part of the story. GM was doing fine after Sept 11, remember the 0% “Keep America rolling” Ad campaign? (Paula
Reading Time: < 1 minute (update) CNNMoney appears to agree with me. When did I sound like MSM (main stream media)? Obviously, that’s how the US goverment thinks. When bailing out the AIG, they were saying AIG is a systematic important institution, and they just could not let it fail. And here is the bailout (handout details).
Reading Time: 2 minutes Obviously the big 3 auto makers came back to news with the Congressional hearing today. This big 3 Washington show started before the Thanksgiving with the “corporate jet gate”, in which the reporters and some congressmen questioned the 3 CEOs taking corporate jets to ask for money: it like one begs for money while wearing
Reading Time: 2 minutes We all know GM is in trouble financially. Its stock (NYSE:GM) is around $6, a 50 years low. A lot pundits made fun of GM and its stock on TV or the web space. But I have a different feeling for GM. Among many reasons, I think of two: 1) In graduate school I worked
Reading Time: 2 minutes What recession? Last Friday evening we went to local Red Lobster restaurant at around 6:30, and we were told there could be 25 min wait as we saw a large crowd. Being impatient as I was, we decided to try Olive garden. When we went there, same thing: we were told the wait time is
Reading Time: 2 minutes Yesterday was another brutal day in the Wall Street, or the Bay Street (Toronto), or SSE (Shanghai Securities Exchange). According to the number, the Dow is now officially in bear territory. General Motor (NYSE:GM), a Dow component and an American icon, hit 53 years low. It closed at $11.43. So, should we go bottom fishing?
Reading Time: 2 minutes Gas and Panera: more saving tips Yeah, the $4 a gallon gas is finally coming, it’s $3.899 in recent 3 days here in STL. I tried to stretch the gas I put last time at $3.699 as much as I could, but it seems like I will need to put gas either tomorrow or Monday.
Reading Time: 2 minutes Stocks in review week of Dec 16 to Dec 22 1) I bought some MXB shares on Dec 19. After I read its prospectus more carefully, I found two things I don’t like: it will use the proceeds of the IPO ($225 m) and borrow some $425 m to pay the dividend to its parent,