This is insanity. Here’s an excerpt from an article in the WSJ concerning the C4C destruction program: What Mr. Mueller discovered is that sodium silicate is the designated agent of death for cars surrendered under the federal cash-for-clunkers program. To receive government reimbursement, auto dealers who offer rebates on new cars in exchange for so-called […]
Archive for August 3rd, 2009
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Revised Third Quarter GDP Predictions
Posted by Tom Lindmark on August 3rd, 2009
Interesting collection of third quarter GDP forecasts from the WSJ Real Time Economics blog: Analyst Q3 – Prev. Q3 – Revised Credit Suisse 1.3% 2.0% Deutsche Bank AG 0.0% 2.0% J.P. Morgan 2.5% 3.0% Moody’s Economy.com 1.1% 1.6% Morgan Stanley 1% 3%-4% UBS 2.0% 2.5% Wells Fargo 2.2% 3.0% Throw in C4C and a couple […]
Could “Cash For Clunkers” Lead To The Feared Double Dip?
Posted by Tom Lindmark on August 3rd, 2009
Could “Cash for Clunkers” be a net political negative for Obama? One analyst thinks that by moving forward sales via the program we’re setting ourselves up for a robust third quarter GDP number and a negative growth rate for the fourth quarter. The dreaded W or double dip recovery. The Wall Street Journal’s Real Time […]
Bank Pay Disconnected From Performance
Posted by Tom Lindmark on August 3rd, 2009
Here is a little bit more professional review of bank compensation versus performance than we saw from Andrew Cuomo last week. This comes via BusinessWeek citing a study by Presidio Pay Advisors, a San Francisco compensation consulting firm. They looked at 115 publicly traded banks, their profits or lack thereof and executive compensation. The results […]
A Positive Trend In July Car Sales
Posted by Tom Lindmark on August 3rd, 2009
Here is the meat of the car sales numbers. The seasonally adjusted annualized rate of sales stood at 11million for the month of July, up significantly from the sub 10 million mark in June. The major manufacturers that have reported so far show the following year-over-year results: Ford […]
The BofA SEC Flap Seems Minor
Posted by Tom Lindmark on August 3rd, 2009
OK, here’s the gist of the SEC complaint against Bank of America. It comes from the New York Times Deal Book. The lawsuit involves statements Bank of America made in its proxy statement to investors about the Merrill deal. The bank told its investors that Merrill had agreed not to pay year-end performance bonuses or […]
SEC Sues Bank Of America Over Merrill Acquisition
Posted by Tom Lindmark on August 3rd, 2009
I’ll mention this but absent any detail it’s pretty hard to offer any comments. The SEC according to CNBC is suing Bank of America for making false and misleading statements in connection with its acquisition of Merrill Lynch. Reports are that the issue involves bonuses paid to Merrill executives. As more information comes out, I’ll […]
