September 21 - September 27, 2008
Saturday, Sep. 27
You'd almost expect Hank Paulson to take out his check ledger at the Treasury Department and begin scribbling. Reality is a lot different. $MTEntryExcerpt$>
The rescue package will look a lot like what had been agreed to on Thursday – before McCain blew into town. $MTEntryExcerpt$>
Friday, Sep. 26
The North Carolina banking giant has taken a huge hit with option adjustable mortgages.
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NBC Universal CEO Jeff Zucker has a different take on the economy than his boss, GE CEO Jeff Immelt. $MTEntryExcerpt$>
Service workers were asking for increased pay, improved medical coverage, and better training. $MTEntryExcerpt$>
Just to state the obvious: If banks aren't willing or able to lend much money, the economy stalls out. $MTEntryExcerpt$>
CEO Jeff Mezger says the housing market is unlikely to improve much in the near term. $MTEntryExcerpt$>
As far as Socal is concerned, the fed seizure and J.P. Morgan takeover should not be that a big deal.
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Thursday, Sep. 25
The WSJ just reported that the feds have brokered a deal for J.P. Morgan to buy deposits and branches of Washington Mutual. $MTEntryExcerpt$>
Gov. Arnold Schwarzenegger said legislation to crack down on state-licensed brokers put the brokers at a competitive disadvantage. $MTEntryExcerpt$>
Fasten your seat belts - House and Senate negotiators reached general agreement on the $700 billion rescue plan.
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WaMu seeking buyer, Valley home prices keep sinking, Countrywide has another VIP, and L.A.'s vertical mall. $MTEntryExcerpt$>
NY Sen. Charles Schumer says he hopes to have a bipartisan consensus on the rescue package sometime this afternoon. $MTEntryExcerpt$>
Wednesday, Sep. 24
The legendary bottom-feeder also says that the single-family housing market should bottom out next year. $MTEntryExcerpt$>
Not to sound like Andrew Sullivan, but there really is nothing the McCain people won't do to deceive voters.
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Despite urgent calls by Bernanke and Paulson, more and more voices are talking about taking a time out. $MTEntryExcerpt$>
Markets mixed after Buffett investment, ex-Countrywide executive loses B of A job, and old Tower Records store turns into boutique.
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The Anderson Forecast expects lower personal income and high unemployment.
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Tuesday, Sep. 23
Goldman Sachs, which was on the verge of collapse last week, might now be interested in Pasadena-based IndyMac Bank. $MTEntryExcerpt$>
Even as it struggles to stay afloat, the savings and loan has to deal with questionable loans and house flipping.
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The Dow has lost 533 points in two days, hardly a vote of confidence for the government's bailout plan.
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While the company has taken steps to tighten up its inspection process, the system is far from foolproof. $MTEntryExcerpt$>
More bailout talk from Bernanke and Paulson, California counties tops in home values, and Emmys telecast loses big. $MTEntryExcerpt$>
Monday, Sep. 22
After 14 consecutive weeks of declines, it’s a good bet that gas prices are going up. $MTEntryExcerpt$>
Just too many questions and too much nervousness about the government bailout plan. $MTEntryExcerpt$>
Valley-based Doll-maker MGA Entertainment has more on its hands than the nasty copyright infringement case with Mattel. $MTEntryExcerpt$>
Wowser! The $25-a-barrel jump is the biggest one-day price jump ever, though prices seem to be pulling back a little.... $MTEntryExcerpt$>
In the absence of any details on the government's $700 billion bailout plan, investors are getting antsy. $MTEntryExcerpt$>
For the third time in six months there are new plans to remodel the Tom Bradley International Terminal.
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Besides a big drop in state and local government employment – some of it seasonal - was a continuing decline in the retail sector. $MTEntryExcerpt$>
The L.A. billionaire could get involved during a meeting today of the insurance giant's other big-money investors. $MTEntryExcerpt$>
Stocks are down in early trading as investors take in the government's bailout proposal and a bunch of other stuff. $MTEntryExcerpt$>
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