US Stocks are looking to open about 1/3 of a percent higher based on premarket trading. Two straight weeks of declines may have exhausted some selling. Financials are higher, after Goldman Sachs raised their rating on the domestic large cap bank sector.
Bank of America (BAC) +2%
Wells Fargo (WFC) +4%
Citigroup (C) +1.3%
JP Morgan (JPM) +1.7%
Goldman Sachs (GS) +.7%
WSJ agrees with me - Cash For Clunkers was one of the worst ideas in history.
Hey it happens. Thanks to LBO-related debt, Simmons is headed into bankruptcy.
Simmons says it will soon file for bankruptcy protection, as part of an agreement by its current owners to sell the company — the seventh time it has been sold in a little more than two decades
Late-night hustler Cash4Gold is doing well swiping grannies' gold for pennies on the dollar
Despite growing competition and complaints that it pays pennies on the dollar, the late-night marketer reportedly made $30 million in profit on $90 million of revenue in 2008, its second year of operations. Sales are supposed to hit $160 million this year. Cash4Gold urges people to send in their gold pieces in exchange for a check. If customers don't like the amount, they can send the check back to the company within 12 days for a full return. Critics say the company and those like it prey on consumers because they are basically buyers of scrap metal, paying "melt value" for baubles, which means sellers may fetch a higher price from pawn shops and jewelry stores. In fact, consumers have lodged hundreds of complaints accusing it of making low-ball offers.
Grumblings over another bankruptcy-mired firm paying $66million in bonuses.
Under questioning, Chandler Bigelow III, the chief financial officer, said the bonuses would help “incentivize our key managers to battle all of the intense challenges that unfortunately our local media businesses are facing,” according to The Associated Press.
Is the bond market's resurgence a good sign going forward, or has it come too far too fast?
Some see this as good news, a sign that credit markets are humming along after their near-collapse last year. Others believe Wall Street’s next big bubble is now inflating as investors chase down returns, and they warn that the big spike in bond prices could roll backward if the economy stumbles and investors again run for safer ground. “I don’t quite see the fundamentals of how this works,” said Thomas H. Atteberry, of First Pacific Advisors. “If I don’t think I have a sustainable economic recovery, how do I justify these prices? How do I justify these yields? You go, wait a second.”