Business

GMAC’s convention on their bank’s survival plan took the decision to rebrand their company as Ally Bank. According to the company’s executives, the rebranding will help in deposit growth. GMAC was initiallly founded in 1919 and was intended to finance GM vehicles customers. “We certainly value our relationship with GM and GM continues to be [...]

General Motors has announced it’s plans to close about 1,100 dealerships and they are currently waiting for the letters to find out if they remain in business or not. According to GM, the dealers are expecting to get the letters, becuase they are only closing the ones that didn’t met the minimum sales volume and [...]

Intel broke a fine record after being penalized with almost one and a half billion dollars by the E.U. for using unfair sales tactics in the computer chip market. The only ones happy about the fine were the people from Advanced Micro Devices (AMD), Intel’s number one rival, who sued them and requested regulators to [...]

When the American International Group chief executive Edward M. Liddy returned to Washington to handle Congress today, there were rumors that the federal officials were known of the company’s recent bonus payments including the inflammatory percentage. If documents are to be checked, it shows that senior officials at the Federal Reserve Bank of New York [...]

Everything is going from bad to worse for crude oil due to the worldwide economic crisis. Today, the crude oil futures have dropped a lot in Asia as the traders wanted to make a profit instead of letting others win. The traders wanted to remain cautious, and not take any risks during this economic downturn [...]

One of the best chefs over at Cape Olive Garden is Jennifer Dineen. Of course, she would probably prefer us to use the title “culinary manager”. And a manager she is, as she misses no opportunity to improve and learn about the trade. Her last experience was no less than some 4.000 miles away, in [...]

Even though General Motors Corp are operating under a federal bailout, reports show that it burned through $10.2 billion in the first quarter. As we all know, the car sales declined drastically all over the Globe, leading to a 50% drop of GM’s revenue to $22.4 billion. On Thursday, General Motors posted a quarterly net [...]

Most people who stay up to date via blogs and news subscriptions already know the story of Nikki Catsouras and the rest of the Catsouras family. Some three years ago, the tragic death of Nikki grieved her family, as well as friends and neighbours in Orange County, California. Post-traumatic stress does not bother a dead [...]

We are anxiously waiting for the stress results, but the problem is that the predictions are worse than first thought. It was said that overall we find ourselves in good condition, however, an inside source says that 10 out of the 19 banks under stress tests will need more capital. We’ve already told you yesterday [...]

This week can be regarded as decisive for our economy as the US Government will release the results of the stress tests on banks. Although many have said that the financial crisis will end soon, this isn’t even close to the reality. The most optimistic estimations show that regional banks, Citigroup and the Bank of [...]