November 2008

Quick anecdote... Went to my local Target store this weekend to do some retail recon and also pick up some basic items.   When I checked out and put my debit card into the card reader a message came up asking me if I "wanted to put the entire amount on one card."   Surprised by a message I couldn't remember seeing on previous visits, I asked the cashier if this was new.  She said she ... read more

There's been some debate on the comments board of this blog about the demand for auto-related jobs in the south and the supposed unhappiness of those workers. While no one can speak for every man or woman working for the foreign companies building cars in the South, there is no question about the desire to work here. I reached out to VW and asked about hiring at their upcoming ... read more

Under the mountains of Switzerland lives one of the biggest science projects of all time.  It's a $15 billion dollar operation called the Large Hadron Collider. It is designed to figure out what the universe is made of by accelerating particles to a rate just under the speed of light, bouncing them against each other, and seeing what happens.   Cool stuff. Opponents of the project ... read more

Hard hit Detroit is looking for money from the Federal government.   Not the Detroit-based automakers, but the city itself. From the Detroit Free-Press... The Detroit City Council passed a resolution today calling for a $10 billion bailout for the city of Detroit. Council President Pro Tem JoAnn Watson sponsored the resolution to use the money for public service employment, to fund ... read more

The mortgage lenders and banks have taken their fair share of heat for the mortgage crisis, so I think it's appropriate to show a side of the mortgage story that doesn't get as much attention: borrower fraud. Of course, this story from the Washington Post may be the ultimate example, but if someone can pull this off one can imagine it's a lot easier for a borrower to fib just a bit on the ... read more

The bull rides again! Not really, but believe it or not there are winners in the American stock market this year. We are reporting that Wal-Mart (WMT) is the only Dow component that is higher for the year.   Sad but true, and says a lot about the weakness of this market. The Dow and big caps get an unfair share of attention.   Time to tell stories is limited on TV.   But ... read more

"...and just like that - POOF! - he was gone" - Kevin Spacey in "The Usual Suspects" talking about Kaiser Soze The Troubled Asset Relief Program (TARP) as we know it is dead.   I would only half-jokingly suggest to the government marketing folks that the TARP should now be called the Consumer Asset Relief Program, or CARP. Today Treasury Secretary Hank Paulson announced that the $700 ... read more

Seems an odd time to have a dinner that costs $1,500 per person (is there ever a good time for a $1,500 dinner??) but that's exactly what happened in New York City the other night. If you are wondering what $1,500 buys you, here's the menu.   My favorite: lamb with "coffee-scented air." read more

Congress continues to debate where to dole out the latest round of taxpayer bailout monies.   GM (GM) and Ford (F) are pushing for cash.   Fannie Mae (FNM) may need more dough because the billions it's already been given have vanished like a cat burglar.   And apparently there are only a few of us paying our monthly AmEx (AXP) bills on time because American Express is the latest company ... read more

The stock market is a discounting mechanism.  It looks at all available data, adds that to what it believes will happen in the future and makes a prediction by buying or selling a stock. Most in the market that we have spoken with at Fox Business expect that Congress will authorize some kind of greater bailout/loan for GM and/or Ford & Chrysler. Consider that: if the market expects a ... read more