Archive for the 'Collapse' Category
TOYOTA: UNPRECEDENTED JOB CUTS AHEAD
January 23rd, 2009Via: Reuters: A warning of unprecedented staff cuts at Toyota, the world’s biggest auto maker, and word of a possible first quarter loss by Volkswagen piled fresh pressure on struggling car manufacturers on Friday. The bleak news came after a halt in dividend payments on Thursday by Italy’s Fiat SpA, the first European car maker […]
Good Bank, Bad Bank All Adds Up to Nationalization
January 23rd, 2009Via: Reuters: Whether it’s called good bank/bad bank, troubled asset relief or some new acronym, the United States appears to be on a course that will lead to the effective nationalization of some of the largest U.S. lenders. Investors have little confidence in the banks’ ability to pull themselves out of the credit mess and […]
Millionaire Widow Wiped Out by Madoff Swindle; Now an Elder Care Worker and Maid
January 23rd, 2009WARNING: This is not a recommendation to buy, sell or hold any financial instrument. What word—besides WARNING—do I generally include in posts about investing? DIVERSIFICATION What the *&%$ are people thinking when they put ALL OF THEIR EGGS IN ONE BASKET!? Any one basket. For f*&%’$ sake. If my tone seems… apoplectic, you simply wouldn’t […]
Who Is Going to Lend the U.S. $2 Trillion?
January 23rd, 2009Guys, I dunno. There are far more questions than answers here. On the one hand, you might think, “Who would be stupid enough to lend the U.S. any more money?” But, the answer might be, “The countries that have already strapped themselves to the mast of the United States.” The U.S. appears to be running […]
Tijuana Off-Limits to U.S. Marines
January 22nd, 2009Via: USA Today: For tens of thousands of U.S. Marines in Southern California, new orders from the brass amount to: Baghdad si, Tijuana no. Citing a wave of violence and murder in Mexico, the commanding officer of the 1st Marine Expeditionary Force based at Camp Pendleton has made the popular military “R&R” destinations of Tijuana […]
Japan Exports Plummet Record 35%, Signaling Job Cuts
January 22nd, 2009Via: Bloomberg: Japan’s exports plunged by a record in December, signaling companies will be forced to shut factory lines and fire more workers, driving the economy deeper into recession. Exports plummeted 35 percent from a year earlier, the sharpest decline since 1980, the earliest year for which there is comparable data, the Finance Ministry said […]
Growing Stocks of Unsold Cars Around the World (13 Pictures)
January 22nd, 2009Man oh man, this is chilling. Guardian
Foreign Workers Abandoning Vehicles by the Thousands at Dubai Airport as They Flee the Country
January 22nd, 2009Via: Daijiworld.com: It’s the great escape by Indians who’ve hit the dead-end in Dubai. Local police have found at least 3,000 automobiles — sedans, SUVs, regulars — abandoned outside Dubai International Airport in the last four months. Police say most of the vehicles had keys in the ignition, a clear sign they were left behind […]
UK Cabinet Minister: ‘The banks are fucked, we’re fucked, the country’s fucked.’
January 22nd, 2009Via: Guardian: As the Treasury last night finalised its second sweeping banking revival package in three months, Downing Street was preparing to go on the offensive, justifying the package not as a bail-out for the banks, but an attempt to protect companies and families trying to secure a mortgage. The £200bn insurance scheme is not […]
UK Cannot Take Iceland’s Soft Option
January 21st, 2009Well, anyone who thought that my comparison of New Zealand to Iceland was a stretch can bask in the Reykjavik on Thames reference from earlier today and now this. Holy shit. Via: Telegraph: The British government faces an excruciating choice. It cannot let Royal Bank of Scotland and its fellow mega-banks go to the wall. […]
