So the government has decided to at least partially sell off its interests in GM. It announced it will sell 200 million of the 500 million shares it owns at a price of $27.50 per share. It initially invested $49 billion in the company and with the sale will have recouped about $34 billion. Whether […]
Posts Tagged ‘bailout’
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Detroit Blames No Car Czar For Lack Of A Plan
Posted by Tom Lindmark on February 5th, 2009
Well you knew this was coming, didn’t you. The WSJ reports late today that the auto companies are behind schedule in putting together their plans for financial survival. Naturally, it’s not their fault. It seems the lack of a car czar is to blame. According to the Journal, critical negotiations with their debt holders on […]
Now It’s The Credit Unions In Trouble
Posted by Tom Lindmark on January 29th, 2009
If it wasn’t so expensive, the falling dominoes in the economy might be somewhat amusing. Today’s case in point are the credit unions, more specifically the corporate credit unions. The WSJ is reporting that the government moved to guarantee $80 billion in uninsured deposits of the corporate credit unions and will inject $1 billion of […]
A Quick Look At The British Bank Bailout Plan
Posted by Tom Lindmark on January 19th, 2009
From the Telegraph.co.uk here are the primary features of the new British bank bailout. INSURANCE SCHEME * Banks will have to identify their riskiest assets which they can then insure with the government for a fee. They will still be liable for initial losses but could at least put in a ceiling, hence boosting confidence. […]
Now The Commercial Real Estate Guys Want A Bailout ll
Posted by Tom Lindmark on December 28th, 2008
You have to keep an eye on the commercial real estate guys. A week or so ago I wrote a post that drew on a WSJ report that the commercial real estate industry was trying to get in on the bailout gravy train. Now the New York Times has followed up with another article that […]
Congress Considers Bailing Out Its Ethanol Mistakes
Posted by Tom Lindmark on December 25th, 2008
From yesterday’s WSJ, here is a foretaste of what’s to come as Congress and the new administration ramp up their stimulus plans next month. The Journal points out that the ethanol industry is on the ropes due to the collapse in the price of oil. Three of the major producers are near bankruptcy despite federal subsidies. So […]
