Unfortunately, it does indeed appear as if the Clunkers program may have at least somewhat robbed Fall and Winter to pay Summer. Charts courtesy Calculated Risk. (Click images for full size)


( Read more... )

Crossposted to darksumomo

The stories below are part of a planned year-long series in Time and other publications in the Time-Warner media conglomerate entitled Assignment Detroit. More stories, including a blog, can be found at the link.

Time: Assignment Detroit: Why Time Inc. Is in Motown
By John Huey

This summer the editors at Time Inc. did something a ( Read more... )

And its worth How Much based on all its outstanding shares? We paid 5 times as much as its worth, eh? Really. So, another finance leader who can't do math. Should I feel surprised? Meanwhile California is going under and will take the USA with it, 8th largest economy or not, because the Current President refused to help the state. How do they get ( Read more... )

After a brief upswing in consumer spending in the first two months of this year, retail sales have resumed their downward trajectory since, even dropping by about a half a percent, month-on-month (SA), during the Easter holiday month of April. (See graph below)

( Read more... )

CNBC:
Ford Shares Plunge, While GM Hits 76-Year Low
Investors dumped shares of both Ford Motor and General Motors on Tuesday, with GM hitting its lowest level since the Great Depression.

Ford Motor [F 5.01 -1.07 (-17.6%) ] dropped almost 9 percent a day after disclosing a public offering of 300 million shares of common stock that will help it ( Read more... )

Financial Post:
Detroit fears GM decampingDetroit is growing anxious over the possibility that General Motors Corp. could vacate its glass-towered corporate headquarters and leave Motown after the automaker's chief executive refused to rule out the move ( Read more... )

Almost all of the reporting here in the states on Chrysler's entrance into bankruptcy has been about the uniquely quick, surgical and decisive overhaul and return to normalcy that is anticipated.

I find less sanguine takes from financial press across the pond...

Financial Times:
Chrysler in doomsday jobs warning
By Julie MacIntosh and Nicole ( Read more... )

Economic Populist writes:GM Layoffs will Boost Unemployment Through the RoofI just has a truly frightening experience. During a conversation about the auto industry one of my colleagues who researches the auto industry told me that according to his calculations, the GM shutdown is going to send 250,000 off the job in Ohio ( Read more... )

Say, peoples. Let's hear your inputs and outputs! I know most members read at least a little bit of every post that goes up in this community. We have seekrit spies infiltrating your windoze! ;)

Here is a some summary posts of recession stories
of significance making the rounds this weekend:

File under: General Mopers
Bloomberg reports:
GM Fund ( Read more... )

Many bulls and optimists over the past few months have suggested that the recession is now ending, or has even ended, and most have looked to initial unemployment claims and home sales for historical validation ( Read more... )