After Chrysler filed for bankruptcy one month ago, it was the turn of General Motors to file for bankruptcy under Chapter 11 protection. Today at 8 A.M. local time, General Motors declared bankruptcy at the federal court in Manhattan after they reported $81 billion losses in the last four years. GM is the biggest car [...]
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 [...]
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 [...]
Porsche is going through a tough time as the automaker has huge debts and it seems like nothing can save it. However, Wolfgang Porsche, the head of the supervisory board of Porsche, says that he will not sold the company after some recent rumors showed that Porsche could be sold to Volkswagen. It is said [...]
These are some tough times for Chrysler as everything points to a bankruptcy. The company was hoping that the US Treasury Department would reach an agreement with the lenders of the car manufacturer, however, the negotiations were stalled and then broken down. Chrysler will now file bankruptcy under Chapter 11 protection, and they will be [...]
This is something we all expected from Warren Buffett who said yesterday that Berkshire Hathaway is not planning to re-purchase its shares are the company is doing well and its intrinsic value is not too high than where the shares are traded. Berkshire’s Chairman also said that his company was thinking to buy back its [...]
Last year a deal between Microsoft and Yahoo seemed very possible because Yahoo wasn’t in a strong financial position while Microsoft was running wild. Also, Yahoo had a flexible management team meaning that it was open to business, however, with the new CEO Carol Bartz everything has changed. Although Yahoo’s new CEO Carol Bartz is [...]
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