August 20 Biz Minute

OK - Whether it's a matter of ignorance or greed, people are still buying General Motors stock, even though the company and the government have warned that the shares will someday be worthless. HELLO!!!
The number of first-time claims for unemployment benefits rose for the second straight week,.... and with the recession throwing thousands of people out of work daily, now more than 13 percent of American homeowners with a mortgage have fallen behind on their payments or are in foreclosure.
Tighter cost cuts and better inventory management helped several apparel and accessory retailers post second-quarter profits that topped market expectations today - After a recent spate of dealers bailing on the program, General Motors announced today that it will provide cash advances to dealers to cover "Cash for Clunkers" rebates while the incentives are being processed by the U.S. government - meanwhile the Obama administration is developing plans to wind down the popular program and could announce by tomorrow when the incentives will no longer be available.

Category:

News & Politics

Tags:

• GM
• General Motors
• stock
• wall street
• unemployment
• recession
• homeowners
• mortgage
• foreclosure
• inventory
• retailer
• cash for clunkers
• rebates
• obama
• administration