Market song o’ day: Nice Fox.
Strike while the layoff iron is hot. Don’t let get left behind: SAP To Cut 3,000 Jobs. AOL Laying Off 700 Employees, Or 10% Of Work Force.
Evidently buying a $35,000 antique commode using taxpayer money is called capitalism. Take that, Adam Smith. Not enough losses yet: New York Stock Exchange member firms lost more than $35 billion. Good news: Roubini: stocks down another 20%, emerging markets to have hard landing.
Venti: Starbucks to close 300 stores. Commerce Secretary: Write-down leads to $6.8 billion quarterly loss for Symantec. Exposed: Kodak lets go 4,500.
Time for another tax cut, right? Continuing claims for benefits rose to 4.776 million in the week ended Jan. 17, the highest since record-keeping started in 1967. Time for another tax cut, right? new orders for durable goods fell for a fifth straight month in December.
Note to Wall Street: Stop hiring from Harvard!
We (Italy) are somewhat not in this mess because our banks did not understand the last 5 years of finance and did not pretend to understand it, so they stayed out. We are now in the spot where stupidity and luck meet.
STFU Tony Blair. Who listens to this clown anymore? “The free enterprise system has not failed,” he said. “The financial system has failed.” Fuck the WTO. China does:
A controversial “buy-American” provision in the bill would mostly bar foreign steel and iron from the infrastructure projects funded by the stimulus. Critics charge that this provision constitutes protectionism and could violate existing WTO agreements.
Oooo. An email petition is sure to convince the commie heads to change their minds. Was this Jeff Jarvis’s idea? A pro-democracy e-mail petition is gathering steam in China.
Reason enough to buy a Ford: Ford Has Its Worst Year Ever but Won’t Ask for Aid.
But, but, Larry Kudlow claimed that housing reached a bottom in 2004? Right, Larry? New home sales plunge to lowest on record. P.S. Fuck you, Larry.
The reason we shouldn’t nationalize banks is because the private bankers were doing a great job and continue to do so with our money! Bailout Rate of Return: -1,096%. Evidently the bailed out crew doesn’t like the stimulus plan. That’s enough for me to like it then.
“Wall Street was looking for a TARP 2.0, which they’re not going to get,” said Smith.
“The stimulus isn’t a one-shot injection like the TARP. It’s actually staggered over years, which doesn’t help the liquidity crisis on Wall Street in the short term.”
Umm, it’s not supposed to help the liquidity crisis. It’s supposed to help create jobs because wall street fucks took taxpayer money and used it for bonuses and/or m&a activity.
