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Posts Tagged ‘consumer spending’
June 1st, 2009
(Lee Siler) - After weeks of speculation an American Icon General Motors finally files for bankruptcy. GM's Bankruptcy would be the 4th largest in U.S. history. This reorganization will include additional money from the U.S. Treasury, which would give the U.S. Government a 60% ownership in the company.
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Tags: american icon, bondholders, canadian government, cisco systems, citigroup, consumer spending, dow jones, dow jones industrial, dow jones industrial average, economic recovery, general motors, gm shareholders, mid day, month of june, nod, reorganization, speculation, spinoff, u s treasury, united auto workers
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| Posted in News and Opinion |
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May 27th, 2009
(Lee Siler) - Things at General Motors are getting bleaker by the minute, as the company pulled an offering that would convert its debt to equity. The bondholders revolted the offer and gave GM no choice but to cancel the deal. This event will likely be the straw that breaks GM's back and pushes them into bankruptcy. On the news GM is down 12% and probably on its way to zero.
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Tags: Apple, bankruptcy, bondholders, consumer confidence report, consumer spending, costco, economy, etf, general motors, gm, impressive rally, money, Morgan Stanley, pmr, price target, retail stocks, stock, two thirds
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| Posted in News and Opinion |
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April 29th, 2009
(Lee Siler) - The U.S. economy shrunk more than expected, according to the Commerce Department. The U.S. saw economic contraction for the third straight quarter, a run not seen since 1974-1975. Analysts had expected the GDP to be down 4.9%, but the number actually came in down 6.1%.
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Tags: avnet, avt, commerce department, computer servers, consumer spending, damper, data storage products, durable goods, economic contraction, economic data, flu, gdp, rally, second half, semiconductors, stocks, straight quarter, swine flu, tents
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| Posted in News and Opinion |
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