Archive for July 1st, 2009
White House staff safe from Obama tax hike
President Barack Obama’s White House staff appears to be safe from a tax increase, for now.
Manhattan home prices plunge
The housing bust has finally clobbered super-pricey Manhattan home prices.
Obama widens mortgage refi program
The Obama administration is widening its mortgage refinancing program to allow more borrowers hit hard by falling home prices to take part.
Auto supplier Lear to file for bankruptcy
Read full story for latest details.
Stocks rise on recovery hopes
Stocks climbed Wednesday, with investors starting off the third quarter on a positive note, after reports on manufacturing and housing added to bets that the pace of the recession is slowing.
Beazer settles $50M mortgage fraud case
Read full story for latest details.
Banks brace for tough second half of ‘09
Stress tests. Massive government interventions. Speculation that the government would nationalize Citigroup and Bank of America.
Weak auto sales continue into June
Most major automakers reported weaker than expected U.S. sales for June, proving yet again that the industry’s pain hasn’t ended. But there are some glimmers of hope.
Visa’s surprising resilience
“More people go with Visa” — the company’s slogan may hold true for credit card holders, but it’s a tougher sell for stock pickers who wonder how safe the business is during a recession.
New GM, old faces
General Motors CEO Fritz Henderson has argued this week that a bankruptcy court needs to approve plans to create a new GM, one unburdened by many of the contracts and liabilities of the past.
