In a bid to survive bankruptcy, Chrsyler is closing nearly 800 dealerships, a full quarter of the company’s dealers. The dealers themselves had no say. While bankruptcy may be a better long-term solution for Chrysler than continued government bailouts, the short-term will not be pretty. Car dealerships provide a lot of jobs and a lot [...]

With health care reform coming down the tracks, the private sector is left with two choices. Fight back against change or “join in” with the government’s efforts in an attempt to mitigate the damage. As of now, the private sector seems ready to play along. President Obama will announce Monday that he has secured the [...]

Despite all the government assistance and talk of providing more, GM lost $6 billion last quarter with earnings dropping by 47%. GM executives say car buyers are turning away from GM out of concern the company will end up in bankruptcy and won’t honor its warranties. Could the prospect of bankruptcy help force bankruptcy? To [...]

President Obama’s plan to crack down on what he considers to be overseas tax shelters is already creating a lot of backlash from the business community. The main complain? Taxing overseas profits will directly harm American jobs. [Martin Regalia, chief economist at the U.S. Chamber of Commerce] said the ability of companies under current tax [...]

This certainly turns the tables on the notion that unions are somehow “anti-business.” From USA Today: STERLING HEIGHTS, Mich. — The United Auto Workers union will own 55% of a restructured Chrysler LLC and its retiree health care trust will get a seat on the board if union members vote to approve contract concessions this [...]

On Thursday, President Obama announced support for a new bill aimed at protecting credit card holders. As early as next week, House Democrats expect to act on a bill that would make it harder for the industry to slap new fees and rates on cardholders while also requiring clearer disclosure of the costs and risks [...]

So, the ever-sophisticated minds at the Fox network have decided the recession could make for quality entertainment. The network plans to air a reality series where employees at struggling small businesses will decide who among them will be laid off (as distinct from the boss making the decision). Fox is attempting to position the show, [...]

At the center of President Obama’s overhaul strategy for Wall Street are the “stress tests” which will be applied to all financial institutions. But how accurate will the test results be? That will depend on whether the treasury takes off-balance-sheet assets into account, experts say. This is Danielle Ivory, reporting from the American News Project [...]

Of course this is populist rage, but it goes to show you how angry folks are about how out of whack the pay is right now; especially when it come to corporations that receive bailout money. The numbers… American voters say 81 – 16 percent that the government should limit executive compensation at companies receiving [...]

And after the AIG mess, I say we give it to him. How we allowed one company to take down the entire system still feels unreal to me. How on earth could we allow that to go down? Crazy, crazy, crazy. But it did happen and we are suffering massive fallout as a result, so [...]

This is more political theatre than anything, but the populist rage against those irresponsible bonuses is at a fever pitch and if Obama doesn’t handle this one smartly it could seriously hurt the administration’s chances to get more bailout money down the road if it’s needed. From CBS: (CBS/AP) The Obama administration is looking for [...]

While everybody is focused on the ups and downs of the top 30 companies, Obama and Geithner have plans to free up money for the little guys. From AP: Obama and Treasury Secretary Timothy Geithner on Monday planned to announce a broad package that includes reduced small-business lending fees and an increase on the guarantee [...]

TheStreet.com’s CEO quits immediately after last night’s interview. Not sure why. After all, the interview that Stewart used to bludgeon Cramer with has been around for quite some time…and on TheStreet.com. But nonetheless… Friday brought more tumult for CNBC anchor Jim Cramer, when the chief executive of his online financial news site, The Street.com, resigned. [...]

The flagging economy has accelerated the decline of the American newspaper industry. Already suffering from waning readership and declining ad sales, several major newspapers are now projected to fold or go exclusively on-line before the end of the year. Those papers include such stalwarts of the news business as the Miami Herald, the Boston Globe, [...]

CNBC with a great look at the ins and outs of the “industry” in Marijuana, Inc. Listen, I can understand bans on harder narcotics, but not marijuana. Everybody knows that marijuana is FAR less dangerous to your health and the public’s safety than alcohol. I could literally go out right now and buy enough alcohol [...]

Michelle Malkin and several other conservative bloggers are having a lot of fun with this particular statistic: On Nov. 4, after Barack Obama clinched the White House, the market closed at 9,625.28. In mid-morning trading today, the day President Obama signs his massive Generational Theft Act into law and a day before he unveils a [...]

o what extent did the Treasury Secretary and the executive branch permit misinformation and fear to be used to panic the Congress into abrogating their responsibilities to the American taxpayer and pass a very bad bill with very little consideration?

For those of you who would have done nothing, listen to the reality… Partial transcript… I was there when the secretary and the chairman of the Federal Reserve came those days and talked to members of Congress about what was going on… Here’s the facts. We don’t even talk about these things. On Thursday, at [...]