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2.7%  Q1 GDP    4.57%  avg. 30-year mortgage     9.5%  Unemployment

Economy Watch: February 7, 2010 - February 13, 2010

Greece debt crisis exposes flaws in euro, one-worldism

Wouldn't it just make sense if there were one world currency, one world government and everyone were on the same page? Sure, if that were possible. But Greece is showing why it probably is not. I'm not talking about totalitarianism....

By Frank Ahrens  |  February 12, 2010; 5:27 PM ET  |  Permalink  |  Comments (0)
Categories:  Deficit/debt , The Ticker  | Tags: Greece debt crisis, euro, one-worldism, yuan  
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Dow snaps four-week losing streak

UPDATED at 5:16 p.m. Even though the Dow closed down for the day, it managed to erase its losses on the week and closed up nine-tenths of 1 percent, snapping a four-week losing streak. The Dow closed down four-tenths of...

By Frank Ahrens  |  February 12, 2010; 5:16 PM ET  |  Permalink  |  Comments (4)
Categories:  The Ticker , Wall Street  | Tags: China, Dow Jones, nasdaq, retail, s&p 500  
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Buying a piece of Buffett

Today, regular Americans get a chance to buy a piece of billionaire super-investor Warren Buffett for the first time. Buffett, chief executive of Berkshire-Hathaway investment fund/holding company, has been priced out of the reach of most American investors, thanks to...

By Frank Ahrens  |  February 12, 2010; 3:19 PM ET  |  Permalink  |  Comments (0)
Categories:  Corporations , Personalities , The Ticker , Wall Street  | Tags: Berkshire Hathaway, Warren Buffett, Washington Post, baby-B Berkshire shares  
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MyerEmco's death tells larger tale of Internet's disruptive change, housing bubble's many victims

I want to draw your attention to this story that I wrote in today's Post, because even though it looks like nothing more than the bankruptcy of a seven-store electronics chain, I believe it's actually perfectly illustrative of the past...

By Frank Ahrens  |  February 12, 2010; 1:04 PM ET  |  Permalink  |  Comments (2)
Categories:  Crisis 101 , The Ticker  | Tags: MyerEmco, NV Homes, home equity lonas, housing bubble  
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February consumer confidence drops

The early read on consumer confidence in February shows it has dropped from January, disappointing forecasters. According to the Reuters/University of Michigan monthly survey released moments ago, the consumer confidence index dropped from a recent high of 74.4 in January...

By Frank Ahrens  |  February 12, 2010; 10:11 AM ET  |  Permalink  |  Comments (1)
Tags: consumer confidence  
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Chrysler follows Hyundai lead, offers money-back guarantee on new vehicles

Struggling Detroit automaker Chrysler is taking a page from the Hyundai playbook and offering a money-back guarantee on some vehicles to appeal to buyers who may be turned off by Chrysler's current image. Chrysler is offering the deal on the...

By Frank Ahrens  |  February 11, 2010; 6:05 PM ET  |  Permalink  |  Comments (5)
Categories:  The Ticker  | Tags: Chrysler, Hyundai  
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Stocks shake off early blues, stage strong rally

UPDATED at 2 p.m. Stocks shook off a slow opening but have since rocketed to a strong day on all major indexes. As of 2 p.m., the Dow is up 1 percent. The broader S&P 500 is up 1 percent...

By Frank Ahrens  |  February 11, 2010; 2:00 PM ET  |  Permalink  |  Comments (3)
Categories:  The Ticker , Wall Street  | Tags: Dow Jones, Greece, jobless claims, nasdaq, s&p 500  
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Obama: I don't 'begrudge' certain kinds of big bonuses

President Obama can't seem to make up his mind on big Wall Street bonuses. In an interview on Tuesday with Bloomberg, Obama said he doesn't "begrudge" the $17 million bonus received by J.P. Morgan Chase chief executive Jamie Dimon or...

By Frank Ahrens  |  February 10, 2010; 2:35 PM ET  |  Permalink  |  Comments (20)
Categories:  Obama , The Ticker , Wall Street  | Tags: Blankfein, Goldman Sachs, JP Morgan Chase Jamie Dimon, Obama, bonuses, executive compensation  
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Stocks rebound after morning slump

UPDATED at 1 p.m. Stocks are back to where they started today, after shaking off a big late-morning slump. As of 1 p.m., the Dow is almost even on the day. The broader S&P 500 and the tech-heavy Nasdaq are...

By Frank Ahrens  |  February 10, 2010; 1:00 PM ET  |  Permalink  |  Comments (1)
Categories:  The Ticker , Wall Street  | Tags: Dow Jones, nasdaq, s&p 500  
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Recallapalooza: Honda pulls back 438,000 vehicles for airbag problem

Lest you think it's just Japanese auto giant Toyota that appears to be recalling every vehicle it's ever made, Honda this morning announced a massive recall. Japan's No. 2 automaker said today that it is recalling 438,000 cars to replace...

By Frank Ahrens  |  February 10, 2010; 10:24 AM ET  |  Permalink  |  Comments (1)
Categories:  The Ticker  | Tags: Fit, Honda, Honda recall, Jazz, toyota recall model and years  
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GM: No problems yet on our hybrid brakes

So far, we've seen Toyota and Ford recall some of their hybrids because drivers have been experiencing squishy-feeling brakes. So I wondered about the hybrids made by General Motors, which include the Cadillac Escalade SUV, the Chevy Silverado pickup, the...

By Frank Ahrens  |  February 9, 2010; 4:24 PM ET  |  Permalink  |  Comments (0)
Categories:  Corporations , The Ticker  | Tags: Ford, GM, Toyota Prius, Toyota problems, toyota recall model and years  
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What you need to know about Toyota, Lexus recalls

It may seem like every Toyota ever made is under some form of recall or investigation, but that's not quite the case. Here is what you need to know if you are a Toyota or Lexus owner. -- The first...

By Frank Ahrens  |  February 9, 2010; 2:29 PM ET  |  Permalink  |  Comments (2)
Categories:  Corporations , FDR's Fireside Chats  | Tags: Toyota Corolla, Toyota Prius, Toyota recall update, toyota, toyota recall model and years  
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U.S. govt. looks at Toyota Corolla steering complaints

The Transportation Department now says that it is looking into more than 80 complaints it has received from owners of the 2009-2010 Toyota Corolla about the vehicle's steering. The latest image hit to the Japanese auto giant comes on the...

By Frank Ahrens  |  February 9, 2010; 12:16 PM ET  |  Permalink  |  Comments (3)
Categories:  Corporations , The Ticker  | Tags: Toyota Corolla, Toyota Prius, Toyota recall update, toyota recall model and years  
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U.S. government reaction to third Toyota recall

Toyota issued a global recall of its 2010 Prius this morning during a marathon, emotional news conference featuring company President Akio Toyoda, the company founder's grandson. The recall ropes in 223,000 hybrids sold in Japan, along with 133,000 Priuses and...

By Frank Ahrens  |  February 9, 2010; 11:22 AM ET  |  Permalink  |  Comments (1)
Categories:  Corporations , The Ticker  | Tags: Camry recall, Ray LaHood, Toyota Prius, Toyota recall update, toyota recall model and years  
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Stocks rebound at opening

Wall Street rebounded at opening today on speculation that debt-troubled Greece will get some help from its neighbors and some strong reports from U.S. economic stalwarts McDonald's and Coke. In the first 20 minutes of trading, the Dow is up...

By Frank Ahrens  |  February 9, 2010; 10:03 AM ET  |  Permalink  |  Comments (0)
Categories:  The Ticker , Wall Street  | Tags: Dow Jones, nasdaq, s&p 500  
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Toyota will recall hybrids in Japan for braking problems

UPDATED at 12:05 a.m. Struggling Japanese auto giant Toyota is recalling the 2010 Priuses in Japan because of braking problems, following a government-ordered investigation of the brakes. No word yet on a recall for Priuses sold in the United States,...

By Frank Ahrens  |  February 9, 2010; 12:05 AM ET  |  Permalink  |  Comments (0)
Categories:  The Ticker  | Tags: Toyota Prius, Toyota recall update, toyota recall model and years  
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Dodge attempts turnaround -- by selling pink muscle cars

I hate to kick a guy when he's down, but sometimes people just bring it on themselves: Today, Dodge released pictures of the new color scheme for its top-end muscle car, the Challenger. The color is called "furious fuchsia." Click...

By Frank Ahrens  |  February 8, 2010; 4:26 PM ET  |  Permalink  |  Comments (2)
Categories:  Corporations , The Ticker  | Tags: Chrysler, Dodge, Dodge Challenger, Fiat, Ford, GM, General Motors, Lancia  
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Report: Toyota hires D.C.'s Glover Park Group lobbyists

Politico's Mike Allen is reporting that embattled Japanese auto giant Toyota has hired Democratic D.C. lobbyists/PR firm the Glover Park Group to plead its case in Washington. The Glover Park Group includes former Democratic heavyweights Joe Lockhart (former Clinton spokesman)...

By Frank Ahrens  |  February 8, 2010; 1:34 PM ET  |  Permalink  |  Comments (0)
Categories:  Corporations , The Ticker  | Tags: Glover Park Group, Toyota, lobbying  
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Another day, another Prius recall report

Today brings another unsourced report from another Japanese media outlet that Toyota is preparing a recall of its high-profile hybrid, the 2010 Prius, to take care of complaints from drivers that the vehicle's brakes are squishy. Today's report comes from...

By Frank Ahrens  |  February 8, 2010; 11:50 AM ET  |  Permalink  |  Comments (7)
Categories:  Corporations  | Tags: Ford Pinto, Prius, Toyota, Toyota recall update, toyota recall model and years  
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Stocks erase early losses, ease positive

UPDATED at 11:10 a.m. Stocks have erased their early losses and eased into positive territory. Nearly two hours into the trading day, the Dow is just above water. The broader S&P 500 and the tech-heavy Nasdaq are both up three-tenths...

By Frank Ahrens  |  February 8, 2010; 11:10 AM ET  |  Permalink  |  Comments (0)
Categories:  The Ticker , Wall Street  | Tags: Dow Jones, nasdaq, s&p 500  
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