Network News

X My Profile
View More Activity
2.7%  Q1 GDP    4.57%  avg. 30-year mortgage     9.5%  Unemployment

Economy Watch: April 26, 2009 - May 2, 2009

Bank 'Stress Test' Results Delayed Until May 7

The results of the government's "stress tests" of some of the nation's 19 largest banks and financial institutions, scheduled for early next week, has been pushed back to May 7, government officials tell Post reporter Binyamin Appelbaum. The delay has...

By Frank Ahrens  |  May 1, 2009; 4:47 PM ET  |  Permalink  |  Comments (3)
Categories:  The Ticker  | Tags: Federal Reserve, stress test  
Save & Share:  Send E-mail   Facebook   Twitter   Digg   Yahoo Buzz   Del.icio.us   StumbleUpon   Technorati   Google Buzz  

April Sales Declines: Chrysler, 48%; Toyota, 42%; GM, 35%; Ford, 32%

UPDATED at 3:56 P.M. Chrysler said April sales were down 48 percent compared to April 2008 moments ago, only hours after the troubled automaker opened its bankruptcy hearing. Car sales were down a staggering 61 percent, while sales of SUVs...

By Frank Ahrens  |  May 1, 2009; 3:56 PM ET  |  Permalink  |  Comments (1)
Categories:  The Ticker  | Tags: Ford, GM, Nissan, Subaru, Toyota, auto sales  
Save & Share:  Send E-mail   Facebook   Twitter   Digg   Yahoo Buzz   Del.icio.us   StumbleUpon   Technorati   Google Buzz  

What A Deal! Treasury Offers 0 Pct. Interest On Bonds!

The Treasury Department is now selling savings bonds that pay an interest rate of 0 percent, The Post's Binyamin Appelbaum reports. That’s nothing. Nada. Give the government $5,000, and six months from now, you’ll get exactly $5,000. I Savings Bonds,...

By Frank Ahrens  |  May 1, 2009; 3:21 PM ET  |  Permalink  |  Comments (0)
Categories:  The Ticker  | Tags: I Bonds, deflation, inflation, treasury  
Save & Share:  Send E-mail   Facebook   Twitter   Digg   Yahoo Buzz   Del.icio.us   StumbleUpon   Technorati   Google Buzz  

U.S. Manufacturing Ticks Up in April, but Still in Contraction

U.S. manufacturing activity ticked up in April for the third straight month, although the overall industry still remains in contraction, according to a survey of purchasing managers released this morning. If this sounds confusing, it goes like this: The Institute...

By Frank Ahrens  |  May 1, 2009; 11:05 AM ET  |  Permalink  |  Comments (0)
Categories:  The Ticker  | Tags: manufacturing  
Save & Share:  Send E-mail   Facebook   Twitter   Digg   Yahoo Buzz   Del.icio.us   StumbleUpon   Technorati   Google Buzz  

Markets Flat At Opening

The markets opened flat this morning in the first day following an all-April rally. In the first 15 minutes of trading, the Dow is down about 35 points, or less than half of 1 percent. The broader S&P 500 and...

By Frank Ahrens  |  May 1, 2009; 9:48 AM ET  |  Permalink  |  Comments (0)
Categories:  The Ticker  | Tags: Dow Jones, nasdaq, s&p 500  
Save & Share:  Send E-mail   Facebook   Twitter   Digg   Yahoo Buzz   Del.icio.us   StumbleUpon   Technorati   Google Buzz  

Chrysler Files For Bankruptcy

Chrysler wasted no time in filing for Chapter 11 bankruptcy protection a mere two hours after President Obama's announcement of the move. The papers were filed with the U.S. Bankruptcy Court, Southern District of New York in Manhattan. For "total...

By Frank Ahrens  |  April 30, 2009; 2:18 PM ET  |  Permalink  |  Comments (1)
Categories:  The Ticker  | Tags: Chrysler, bankruptcy  
Save & Share:  Send E-mail   Facebook   Twitter   Digg   Yahoo Buzz   Del.icio.us   StumbleUpon   Technorati   Google Buzz  

Obama: Bankruptcy Is 'New Lease On Life for Chrysler'

UPDATED at 12:40 P.M.: Merging with Fiat and entering Chapter 11 bankruptcy will provide a "new lease on life for Chrysler," President Obama is saying right now. "This is not a sign of weakness but one more step on a...

By Frank Ahrens  |  April 30, 2009; 12:40 PM ET  |  Permalink  |  Comments (1)
Categories:  The Ticker  | Tags: Chrysler, Obama, bankruptcy  
Save & Share:  Send E-mail   Facebook   Twitter   Digg   Yahoo Buzz   Del.icio.us   StumbleUpon   Technorati   Google Buzz  

Holdouts on Chrysler Deal Say They Were 'Systematically Precluded' From Negotiations

A group of about 20 firms who declined to go along with the 11-th hour deal struck by the Obama administration to save Chrsyler from bankruptcy, has just released a statement claiming that the deal was unfair. The group, which...

By Sara Goo  |  April 30, 2009; 12:08 PM ET  |  Permalink  |  Comments (49)
Categories:  The Ticker  
Save & Share:  Send E-mail   Facebook   Twitter   Digg   Yahoo Buzz   Del.icio.us   StumbleUpon   Technorati   Google Buzz  

Quartet of Tough Corporate Earnings This Morning

Four big companies released first-quarter earnings today, and they were tough across the board. However, in the tone of the times, some were not as bad as expected: -- Chemical giant Dow reported that first-quarter profits were down 97 percent...

By Frank Ahrens  |  April 30, 2009; 11:40 AM ET  |  Permalink  |  Comments (0)
Categories:  The Ticker  | Tags: Dow Chemical, ExxonMobil, eastman kodak, procter & gamble  
Save & Share:  Send E-mail   Facebook   Twitter   Digg   Yahoo Buzz   Del.icio.us   StumbleUpon   Technorati   Google Buzz  

Markets Up At Opening

The markets are up at opening today, buoyed by a weekly jobless report that showed claims are still rising but at a rate that was less than expected. In the first 30 minutes of trading, the Dow is up 80...

By Frank Ahrens  |  April 30, 2009; 10:02 AM ET  |  Permalink  |  Comments (0)
Categories:  The Ticker  | Tags: Chrysler, Dow Jones, nasdaq, s&p 500  
Save & Share:  Send E-mail   Facebook   Twitter   Digg   Yahoo Buzz   Del.icio.us   StumbleUpon   Technorati   Google Buzz  

Cramdown Negotiations Fall Apart

Negotiations between a key Senate leader and the financial services industry over legislation to allow bankruptcy judges to modify troubled mortgages has ended without a deal, a congressional aide said today. Senate Majority Whip Richard J. Durbin (D-Ill.) has been...

By Sara Goo  |  April 29, 2009; 2:59 PM ET  |  Permalink  |  Comments (0)
Categories:  The Ticker  
Save & Share:  Send E-mail   Facebook   Twitter   Digg   Yahoo Buzz   Del.icio.us   StumbleUpon   Technorati   Google Buzz  

Fed Keeps Rates Steady

The Federal Reserve just said that it has left its key interest unchanged, noting that the economy has continued to contract but that the outlook seems to be improving. The federal funds rate will hold at 0 to .25 percent....

By Michael S. Rosenwald  |  April 29, 2009; 2:25 PM ET  |  Permalink  |  Comments (0)
Categories:  The Ticker  
Save & Share:  Send E-mail   Facebook   Twitter   Digg   Yahoo Buzz   Del.icio.us   StumbleUpon   Technorati   Google Buzz  

April 29, 2009

The Washington Post staff share their picks for readings around the Web. The Fetishization of Boldness New Yorker | James Surowiecki defends the Obama administration's handling of the crisis, arguing that much of the criticism amounts to a "fetishization...

By Sara Goo  |  April 29, 2009; 2:08 PM ET  |  Permalink  |  Comments (0)
Categories:  Neil Irwin's Must Reads  
Save & Share:  Send E-mail   Facebook   Twitter   Digg   Yahoo Buzz   Del.icio.us   StumbleUpon   Technorati   Google Buzz  

Vote Count on BofA's Lewis Delayed

Updated: 1:28 pm. Bank of America has delayed the release of results of a shareholder vote on whether CEO Ken Lewis should retain his position as chairman of the board. Lewis bore the brunt of strong criticism of his recent...

By Michael S. Rosenwald  |  April 29, 2009; 10:26 AM ET  |  Permalink  |  Comments (1)
Categories:  The Ticker  
Save & Share:  Send E-mail   Facebook   Twitter   Digg   Yahoo Buzz   Del.icio.us   StumbleUpon   Technorati   Google Buzz  

Time Warner to Spin Off AOL

In a regulatory filing this morning, Time Warner signaled its intention to spin off its struggling AOL unit. The New York company told investors that it anticipates "that it would initiate a process to spin off one or more parts...

By Michael S. Rosenwald  |  April 29, 2009; 10:20 AM ET  |  Permalink  |  Comments (0)
Categories:  The Ticker  
Save & Share:  Send E-mail   Facebook   Twitter   Digg   Yahoo Buzz   Del.icio.us   StumbleUpon   Technorati   Google Buzz  

Stocks Up at Opening

All of the major indexes opened today heading upwards. The Dow is up 60 points, or less than 1 percent, at 8,077. The S&P 500 is also up less than 1 percent -- 8 points to 863. The tech heavy...

By Michael S. Rosenwald  |  April 29, 2009; 9:43 AM ET  |  Permalink  |  Comments (1)
Categories:  The Ticker  
Save & Share:  Send E-mail   Facebook   Twitter   Digg   Yahoo Buzz   Del.icio.us   StumbleUpon   Technorati   Google Buzz  

Ernst & Young Backs Off Report of Employee With Swine Flu

Ernst & Young is backing off its announcement that a staff member at its headquarters in Manhattan was diagnosed with swine flu. The company last night released a statement that said in part: “An employee in our offices at 5...

By Sara Goo  |  April 28, 2009; 12:00 PM ET  |  Permalink  |  Comments (0)
Categories:  The Ticker  
Save & Share:  Send E-mail   Facebook   Twitter   Digg   Yahoo Buzz   Del.icio.us   StumbleUpon   Technorati   Google Buzz  

Consumer Confidence Reaches Highest Level This Year

Consumer confidence, which has been in the tank for months because of the recession, has reached its highest level of the year, according to new data out this morning. The Consumer Confidence Index rose to 39.2 in April, up from...

By Sara Goo  |  April 28, 2009; 11:30 AM ET  |  Permalink  |  Comments (0)
Categories:  The Ticker  
Save & Share:  Send E-mail   Facebook   Twitter   Digg   Yahoo Buzz   Del.icio.us   StumbleUpon   Technorati   Google Buzz  

Fall Home Prices Begin To Slow, But Not In DC Area

The fall in housing prices is beginning to slow nationally -- but not in D.C. This morning’s release of the Standard & Poor's/Case-Shiller housing index showed prices in 20 major cities declined 2.2 percent in February, compared with 2.8 percent...

By Sara Goo  |  April 28, 2009; 11:20 AM ET  |  Permalink  |  Comments (0)
Categories:  The Ticker  
Save & Share:  Send E-mail   Facebook   Twitter   Digg   Yahoo Buzz   Del.icio.us   StumbleUpon   Technorati   Google Buzz  

FDIC Chairman: Agency Should Have Expanded Powers

FDIC Chairwoman Sheila Bair said today that her agency should have the power to close bank holding companies, insurers and other large financial institutions -- not just commercial banks. The comments came during a speech she gave today before the...

By Ylan Mui  |  April 27, 2009; 4:37 PM ET  |  Permalink  |  Comments (0)
Categories:  The Ticker  
Save & Share:  Send E-mail   Facebook   Twitter   Digg   Yahoo Buzz   Del.icio.us   StumbleUpon   Technorati   Google Buzz  

Markets End the Day Down

The markets closed down after a volatile day of trading in which investors grappled with swine flu and the restructuring of the automakers. The Dow dipped .64 percent, or 51 points, to 8,025. The S&P fell 1 percent, or 9...

By Ylan Mui  |  April 27, 2009; 4:26 PM ET  |  Permalink  |  Comments (0)
Categories:  The Ticker  
Save & Share:  Send E-mail   Facebook   Twitter   Digg   Yahoo Buzz   Del.icio.us   StumbleUpon   Technorati   Google Buzz  

April 27, 2009

The Washington Post staff share their picks for readings around the Web. When Did Your County's Jobs Disappear? Slate | An elegant interactive map of where job losses have occurred--and when. Fair Pay Atlantic | Why do Wall Streeters...

By Sara Goo  |  April 27, 2009; 1:05 PM ET  |  Permalink  |  Comments (0)
Categories:  Neil Irwin's Must Reads  
Save & Share:  Send E-mail   Facebook   Twitter   Digg   Yahoo Buzz   Del.icio.us   StumbleUpon   Technorati   Google Buzz  

Portfolio Magazine to Fold

Happy birthday, Portfolio! Now, it's time to go. Conde Nast said today that it is shutting down the two-year-old magazine that catered to the bigwigs of the business world. In a statement, Conde Nast Chief Executive Charles H. Townsend said:...

By Ylan Mui  |  April 27, 2009; 11:37 AM ET  |  Permalink  |  Comments (5)
Categories:  The Ticker  
Save & Share:  Send E-mail   Facebook   Twitter   Digg   Yahoo Buzz   Del.icio.us   StumbleUpon   Technorati   Google Buzz  

Stocks Turn Positive

After opening in negative territory, stock markets have gone green. Swine flu was blamed in part for the low open, with the transportation sector down nearly 3 percent over concerns that the outbreak might curtail travel. The European Union today...

By Ylan Mui  |  April 27, 2009; 10:57 AM ET  |  Permalink  |  Comments (0)
Categories:  The Ticker  
Save & Share:  Send E-mail   Facebook   Twitter   Digg   Yahoo Buzz   Del.icio.us   StumbleUpon   Technorati   Google Buzz  

GM CEO Henderson Not Sure of How Many Credit Default Swaps

Update: 10:08 am: General Motors CEO Fritz Henderson just wrapped up his hour long news conference by noting that he wasn't entirely sure how many of its bond holders had credit default swaps. A credit default swap is essentially an...

By Sara Goo  |  April 27, 2009; 9:17 AM ET  |  Permalink  |  Comments (3)
Categories:  The Ticker  
Save & Share:  Send E-mail   Facebook   Twitter   Digg   Yahoo Buzz   Del.icio.us   StumbleUpon   Technorati   Google Buzz  

This Week: Consumer Confidence, Fed Meeting

There will be a stream of major economic news coming out this week, which should shed new light on how bad things were at the start of the year, what further steps the government may take, and whether things are...

By Sara Goo  |  April 27, 2009; 6:36 AM ET  |  Permalink  |  Comments (0)
Categories:  The Ticker  
Save & Share:  Send E-mail   Facebook   Twitter   Digg   Yahoo Buzz   Del.icio.us   StumbleUpon   Technorati   Google Buzz  

 
RSS Feed
Subscribe to The Post

© 2010 The Washington Post Company