January 2009

Monday I am taking a break from the coverage of the bailout, stimulus plan, TARP, TALF and all the other acronyms to do something very cool and very different. It involves two of my favorite topics: history and the high seas.   You have to tune in Monday to find out what it's all about. Have a great weekend everyone, and thanks again for taking the time to write into my blog.   Even ... read more

Hypothetical... A salesman for Company X - which makes widgets - has a quota of $1 million in sales per year.   His compensation is $50,000 per year base salary plus 10% of everything he makes over quota.   The salesman busts his rear all year, working the phones and hopping on airplanes.   He does well, bringing in $2 million in sales, doubling his quota.   His compensation is ... read more

Reaction to the stimulus plan (hereafter which should instead be called the "spending" plan based on the lack of stimulus and heavy dose of spending) has nearly universally been negative this morning. The problem is that there seems to be very little "stimulus" in the stimulus plan, at least in the way of promoting new spending by companies and individuals.   Much of the plan is instead ... read more

Stories I'm watching this Thursday. Most have to do with the stimulus plan passed by the House.    The bill passed easily but neatly split down party lines.  Not one member of the GOP voted for the plan.   It now moves to the Senate and unless the Republicans can somehow muster a filibuster it will pass easily. Even with changes to the House version it is very clear as to one ... read more

Reuters report via the Treasury on exactly where your TARP money has gone so far... The U.S. Treasury confirmed on Tuesday that 23 banks received $386 million from the government's $700 billion financial rescue fund on Friday, Jan. 23. The Treasury has already disbursed $293.7 billion from the Troubled Asset Relief Program, or TARP, to shore up the banking system and faltering U.S. ... read more

Wednesday stories I'm watching: Buy homes in Washington because D.C. is getting bigger with fat government jobs Warren Buffett's long bet on the S&P 500 Unless everyone gets their home loan modified then the system is ripe to be gamed Ex Lehman CEO sells mansion to wife for $100 bucks Why there seems to be so many ponzi schemes right now A chance for the stimulus to do read more

Tuesday stories I'm watching: Detailing Monday's job losses Beck: Obama's stimulus plan is meant to reshape - not rebuild - the economy Fannie and Freddie need more money American Express results are a negative sign for spending by the well-off and companies A bit of good news: the cost of your groceries is going down The bad news is ... read more

The UAW must be feeling betrayed.   At nearly the exact time the President announced he will push for tougher fuel economy standards, General Motors announced it will idle more plants and fire more workers.    The timing of that GM announcement is likely not accidental. The President began speaking about his push for higher fuel economy standards at 10:45am ET this morning.   Here is ... read more

Stories I'm watching this Monday: Many banks who received TARP money still aren't lending - is loan demand the real problem? Businesses know the only way to create jobs is to lower their own costs and are asking for tax breaks Pelosi says some people shouldn't have more kids and wants to put them on the pill Note to the President: small, individual tax refunds don't help the ... read more

There is nothing intelligent to say about a massacre - Kurt Vonnegut writing in Slaughterhouse Five Vonnegut must have heard of the Taliban because what's going on with the resurgent group is nothing more than hellish Big week for corporate earnings ahead Big week for likely very ugly economic data ahead The U.S. is not the only country suffering in the economic downturn as the ... read more