I have been telling everyone on the ArborUpdate the Ann Arbor Chronicle discussion boards that this is going to happen for about six months. Now it has happened. Things aren’t looking great for the Michigan economy for the next several years. Do we really need a $770,000 piece of public art for the new $47 million city new?
U.S. stocks declined on Monday after the Obama administration said that the best chance for success for General Motors and rival Chrysler may be bankruptcy.
The Dow Jones Industrial Average was down about 220 points. All its components were lower. GM shares, which have slumped to their lowest levels in decades in recent months, were down more by than 24% early on, falling below $3. Given the shares’ low price, however, the decline took less than 10 points off the Dow.
via Article – WSJ.com.
This has got to be the worst timed book in history. Unless maybe for DO-IT-YOURSELF SUBPRIME MORTGAGE SECURITIZATION or GET RICH WITH CHRYSLER.
Do-It-Yourself Hedge Funds
Everything You Need to Make Millions Right Now
By Wayne Weddingtonr
FULL DESCRIPTION
Even with the recent upheaval and turmoil on Wall Street, it’s still currently estimated that the hedge fund industry exceeds one trillion dollars in assets, and continues to expand. Hedge funds are all over the news, as their managers become multi-millionaires and seemingly come up with new, increasingly ostentatious ways to spend their massive fortunes. And until now, the average investor has been kept out of this world, being led to believe that one needs a MBA from a top university and millions of dollars to invest. … more
via Do-It-Yourself Hedge Funds – Hachette Book Group USA.
Ouch. I can’t imagine how Chrysler can survive this as a stand-alone company.
Chrysler U.S. December sales drop 53% – MarketWatch
Chrysler LLC said Monday that U.S. December sales fell 53% to 89,813 vehicles from 191,423 a year ago.
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