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Well, I guess it had to happen eventually. After Citigroup finally posted its first profit in a very long time, the Treasury Department finally feels it’s time to shed itself of all that stock that they bought when Citigroup was in trouble. How much are we talking about? The government, which by extension means we [...]
Talk about a nice run. The Dow Jones is on a very impressive run after taking a tumble 8 weeks ago. This weekend, the industrial average closed higher for the 11th time in 12 days, and that helped the index closed well, matching its longest string of gains since January 2004. Of course, marketers being [...]
So, is Chrysler still in major trouble, or are they okay? It was announced that Chrysler lost an astounding $3.8 billion dollars in the second half of 2009, but it doing much better now. Much better means that for the first quarter of this year they only “lost” $197 million. While I acknowledge that’s a [...]
I guess it had to happen eventually. Citigroup finally announced a quarterly profit after many quarters of massive losses. They reported a profit of $4.4 billion in the first quarter of this year, compared to a $670 million loss at the same time last year. Supposedly they’ve turned the corner because of trading of bonds [...]
I had to think about where to put this one, and decided to post it here because I think this is the way many companies of this type are going to go. It’s finance related and credit card related, and that’s what this blog is all about. There’s also customer service issues, which will destroy [...]
Interesting days for JP Morgan Chase, if you ask me. On the financial front, things look pretty good. They just reported another profitable quarter, $3.3 billion in profits, up 55% from last year at this time. Sure, last year was bad for awhile, but no one scoffs much as that type of profit number. They’ve [...]
You can keep believing that the economy is getting better and that unemployment has stabilized if you want to, but numbers seem to indicate otherwise. It seems that 33 states and the Virgin Islands have run out of money to pay unemployment benefits, and are borrowing heavily from the federal government to try to keep [...]