Archive for November 11th, 2008
GM closes under $3 - first time since ‘46
Shares of General Motors plunged another 13% on Tuesday to a 65-year low, closing below the $3 mark for the first time since 1946.
U.S. mortgage plan falls short
The federal government’s plan to streamline modifications of troubled loans held by Fannie Mae and Freddie Mac won’t help the majority of people threatened with foreclosure, experts said.
No. 2 mall operator warns of bankruptcy
General Growth Properties Inc., the No. 2 mall operator in the United States, has warned that an ongoing slump in retail sales, combined with the credit market lockdown, has pushed the company to the brink of bankruptcy.
Stocks drop on recession jitters
Stocks slipped Tuesday as recession fears trumped a new government and mortgage industry plan to help troubled homeowners.
Goldman shares enjoy rebound
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U.S. unveils mortgage plan
The Bush administration on Tuesday unveiled a new program to modify mortgages and stabilize the battered real estate market, but the plan stops short of providing direct government financial help to at-risk homeowners.
Dollar rises on recession fears
The dollar resumed its climb against other major currencies for a second day in a row Tuesday as recession fears took center stage.
Express Scripts faces ID-theft extortion
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Pelosi backs bailout for auto industry
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Genworth stock hits all-time low
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