Chrysler Declares Bankruptcy

As expected troubled automaker Chrysler has filed for Chapter 11 bankruptcy protection. This was a necessary move in order to get suppliers and unions to renegotiate contracts for the broke car maker. Chrysler Financial will no longer offer auto loans as of today while the firm seeks to restructure. The UAW will receive up to […]

GM Dropping Pontiac Brand

General Motors (GM) will soon stop producing Pontiac automobiles. The troubled US automaker will close down its Pontiac brand by next year. GM is also planning to discontinue its Saturn brand by the end of this year as well. While not an easy decision GM is making the tough decisions that are necessary to become a […]

Bank of America Needs More Capital

I have read a few articles late tonight that state that government stress tests show that Bank of America and Citigroup will need to raise billions more in capital. These 2 banks have already received almost 100 billion in funds through the government’s TARP program. These findings illustrate a larger problem facing US banks. IF B of A […]

Bank Stress Tests

Tomorrow the US government will release the results of its stress tests performed on 19 major US financial institutions. The stress tests judge the financial strength of banks by rating the individual loan quality and toxic assets. The difficulty in valuing troubled assets is that a subjective value has to be placed upon them because no […]

Are Bank Earnings Really Better Than Expected?

Bank of America (BAC) announced a profit of 4.2 billion dollars for the 1st quarter which surpassed analysts expectations. Analysts expectations were for a profit in the millions but not the billions. This is the latest bank to report earnings that exceeded Wall Street’s low expectations. Wells Fargo, Citigroup, JPMorgan Chase and Goldman Sachs all had […]

Stocks on Tear, But Krugman Isn’t Convinced Worst Is Over

Tech Ticker Article These results seem to confirm the “the worst has passed” consensus that has developed in recent weeks. This view has both fueled the market’s six-week rally and, simultaneously, been “confirmed” by higher stock prices in the eyes of many. (This gets to the essence of George Soros’ theory of reflexivity, but Soros […]

General Growth Properties Declares Bankruptcy

The largest mall owner in Maryland and the second largest mall owner in the US has finally declared bankruptcy. General Growth Properties(GGP) has fought off bankruptcy for months but could no longer hold off its creditors. General Growth has amassed over 27 billion in debt from acquisitions and other financing loans. The acquisition of Rouse […]

General Electric

GE has risen all of the way past $12 over the past five weeks. The stock was at the $5 level just a month ago and has been on a tear. The higher that financial stocks continue to rise, the more that I think that we are overdue for a major pullback.

5 Major Retirement Risks

From MarketWatch article by Robert Powell Full article can be found here. 1. Longevity Risk This is, in many ways, the biggest risk and the most difficult to figure out. We know that life expectancy in the U.S. is now 78 years and that on average women outlive men. But that doesn’t tell us a […]

UltraShort ETF’s

Added more shares of ProShares UltraShort Financials ETF (SKF) @ $76.00. This sector has been on fire and I continue to believe that it is due for a pullback. I will be paying close attention to bank earnings when they are reported next week. Added more shares of ProShares UltraShort Real Estate ETF (SRS) @ […]