Archive for February 14th, 2009

More Info On The Failing GM Workout

See my post below for a more complete discussion, but the United Auto Workers walked out of the restructuring talks this evening. This is devolving into a political exercise, not a good faith attempt to resolve the problem. more: here-NY Times

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Eastern Europe: The Next Lehman Brothers?

And you thought that the financial crisis was contained. I’ve been harping on this for some time and now it appears to be closer to reality than many thought. The European banking system is dangerously close to being taken down by their version of subprime loans. As the ultra-bear Ambrose Evans-Pritchard explains in the Telegraph.co.uk, [...]

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Home Value Distortions

Here are some numbers for Phoenix residential real estate sales in January. The picture they paint won’t surprise you but the way the numbers come together is interesting and contains a cautionary tale. First, look at Maricopa County as a whole. Foreclosures were up 8.3% increasing from 3,110 in December to 3,370 in January. January [...]

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GM: Give Us More Money Or We Go BK

On February 5th I had a short post that noted GM was falling behind on the survival plan it is required to submit to the government on Tuesday. The lack of a car czar was blamed for slowing discussions with its bondholders and unions. Now, according to the Wall Street Journal, it appears as if there [...]

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