•Dollar Will Remain World’s Main Reserve Currency – Sayeth Robert Gibbs, Obama mouthpiece. But there’s more, “‘There are a lot of people that have talked about it, but we don’t think that’s really serious,’ U.S. Commerce Secretary Gary Locke said”. Hear that? Not serious! Wa-hoo! GO TEAM AMERICA! [Bloomberg]
•GM Will Exit Bankruptcy With $48 Billion in Debt – This will be the “new” GM. The “old” GM will get “unwanted assets, including contaminated factory sites, a parking lot in Flint, Michigan, and a nine-hole golf course in New Jersey.” Sounds like a winner! [Bloomberg]
•U.S. jobless claims drop steeply – Calm down. It’s new jobless claims. It’s not like the unemployed are finding work. [Reuters]
Related Posts
Scoping | 07.01.09
A Forecast With Hope Built In – Hope has got nothing on reality [New York Times]
Justice Department demands UBS client names – “Swiss bank UBS AG ”systematically and deliberately” violated U.S. law by dispatching private bankers to recruit wealthy Americans interested in evading taxes and must be forced to reveal the identities of 52,000 of those clients, the Justice Department said in a court filing in Miami Tuesday.” [AP via Miami Herald]
ADP Estimates U.S. Companies Cut Payrolls by 473,000 – Estimates ahead of tomorrow’s number keep us under 10% unemployment! Cross your fingers! [Bloomberg]
Scoping | 07.02.09
•California in ‘fiscal emergency’ – Can’t really decide which state capital has more clowns per capita, Sacramento or Albany [BBC]
•Former HealthSouth executive gets prison time – 3 months. Meh [AP via Miami Herald]
•Big Pay Packages Return to Wall Street – Paging Congressman Frank [WSJ]
Scoping | 07.24.09
• Warren Buffett to Teach Kids About Finance in New Web Cartoon [Bloomberg]
• U.K. GDP Shrinks More Than Expected – “Hopes that the U.K. economy was on the road to recovery after a severe recession received a major blow Friday with official data showing output contracted far more than expected in the second quarter.” [WSJ]
• After Buffett Rebuff, CIT Eyes a Breakup – “Conglomerates Berkshire Hathaway Inc. and Leucadia National Corp. made a bid to buy parts of CIT Group Inc. but were rebuffed by CIT, according to people familiar with the matter, because the price was too low.” [WSJ]
• The Man Who Sank New Jersey [Forbes]