Automakers reported improved sales in April compared to a year ago, as consumers continued to open their wallets and spend money on new cars and trucks. Ford, General Motors, Toyota and, surprisingly, Chrysler all saw double digit growth.
Continue reading April Showers Automakers with Improved Sales
April Showers Automakers with Improved Sales originally appeared on DailyFinance on Mon, 03 May 2010 16:30:00.
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The aid package to bail out Greece hardly ends its problems. The country's debt is over 100% of GDP, and the national deficit was 13.6% of GDP last year. The major concern is that Greece's citizens won't accept what's expected to be $40 billion in budget cuts over three years.
Continue reading Greece Seals the Deal, Finally, But What's Next?
Greece Seals the Deal, Finally, But What's Next? originally appeared on DailyFinance on Sun, 02 May 2010 14:45:00.
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Ratings downgrades for Spain, Portugal and Greece have alarmed already-rattled credit markets, sending borrowing costs sky-high. As contagion spreads, Europe's politicians need to stop dithering over the bailout and take dramatic steps to reassure markets.
Continue reading Greek Debt Crisis: Europe Needs to Act Decisively Now
Greek Debt Crisis: Europe Needs to Act Decisively Now originally appeared on DailyFinance on Wed, 28 Apr 2010 16:15:00.
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It's not yet profitable, but the struggling carmaker has dramatically improved its finances since emerging from bankruptcy last summer. It lost nearly $4 billion in 2009's second half, but in first-quarter 2010 it showed an operating profit of $143 million. More is promised.
Continue reading Chrysler Reports More Losses -- but Also Some Hope
Chrysler Reports More Losses -- but Also Some Hope originally appeared on DailyFinance on Wed, 21 Apr 2010 09:30:00.
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The feds's $700 billion bailout program has helped big banks but hasn't done much for the little guy, a key government official said Tuesday. Long-term unemployment remains at the highest rates in memory and this year's foreclosures are expected to eclipse the 2.8 million in 2009.
Continue reading Bailout Has Been Good for Wall Street, Not Main Street
Bailout Has Been Good for Wall Street, Not Main Street originally appeared on DailyFinance on Tue, 20 Apr 2010 19:00:00.
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An aircraft leasing arm of American International Group has snagged a deal to sell 53 airplanes to Macquarie Aerospace, in a deal worth nearly $2 billion. It'll help in AIG's effort to repay its $182 debt to the U.S. government.
Continue reading AIG's Aircraft Leasing Arm Lands a $2 Billion Sale
AIG's Aircraft Leasing Arm Lands a $2 Billion Sale originally appeared on DailyFinance on Wed, 14 Apr 2010 10:20:00.
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A year ago, the Feds estimated bailout costs at more than $250 billion. But thanks to a faster-than-expected economic rebound, Treasury now forecasts that the real price to taxpayers could drop to approximately $89 billion. Of course, some big ifs still lurk.
Continue reading Federal Bailout Costs Now Look $161 Billion Slimmer
Federal Bailout Costs Now Look $161 Billion Slimmer originally appeared on DailyFinance on Mon, 12 Apr 2010 16:34:00.
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The financial results show "there is still significant work to be done," said Chris Liddell, General Motor's Chief Financial Officer. "However, I continue to believe we have a chance of achieving profitability in 2010."
Continue reading Slimmed-Down GM Posted a $4.3 Billion Loss in 2009
Slimmed-Down GM Posted a $4.3 Billion Loss in 2009 originally appeared on DailyFinance on Wed, 07 Apr 2010 12:10:00.
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While the overall 2010 cash pay of AIG's top earners will fall, the two senior managers have been awarded hefty raises. This likely won't help in soothing public anger about excessive executive compensation at bailed-out companies.
Continue reading Two AIG Execs Get Eyebrow-Raising Pay Jump
Two AIG Execs Get Eyebrow-Raising Pay Jump originally appeared on DailyFinance on Sat, 03 Apr 2010 12:35:00.
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American International Group,
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The government could garner some $8 billion in profit when it sells its common stock in the troubled banking giant over the course of the year. Treasury received its Citi stake of about 27% last year in the $45 billion federal bailout.
Continue reading Treasury Will Sell Its Citi Stake -- and Reap Billions in Profit
Treasury Will Sell Its Citi Stake -- and Reap Billions in Profit originally appeared on DailyFinance on Mon, 29 Mar 2010 11:35:00.
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