AlphaNinja - US stock markets are trading up a bit in premarket action. J.M. Smucker (SJM) surprised no one by beating Wall Street estimates for its first quarter. Shares up 3%.
Great NYTimes piece on banks losses. Despite the rampant reporting on "toxic assets" and other exotic products, most banks are failing the old fashioned way - poor loan decisions.
Despite the company warning that its stock is worthless, active trading in the "Old GM" continues...
Russian dam tragedy highlights a crumbling infrastructure left behind from the Soviet days.
AIG's new CEO, on why he took the position. (I LIKE this guy).
U.S. firms have to “start rebuilding themselves, without government regulation, government control, government decisions on how you pay people,” Benmosche said. “If we do it the right way, I’m convinced we can restore credibility in our industry, as well as for our country.”
Yikes. Paul Allen's troubles with Charter Communications may result in a $1billion tax hit, or 1/16th of his net worth.
China plans to reign in the country's banks, who have lent money to stock market speculators rather than business owners.
When institutional investors stayed away from CIT bonds, the company shopped them to less sophisticated investors, who're now sitting on over 50% losses.