Detroit’s Big 3 carmakers beg for US$25 billion as aid stalls
Nov 19 2008
Julie Hirschfeld Davis, The Associated Press November 18, 2008 - 8:59 p.m. WASHINGTON - Detroit's Big Three automakers pleaded by a reluctant Congress Tuesday for a US$25-billion lifeline to save the once-proud titans of U.S. industry, pointedly warning of a national economic catastrophe should they collapse. Millions of layoffs would follow their demise, they declared, as damaging effects rippled across an already-faltering economy. But the new rescue plan appeared stalled attached Capitol Hill, opposed by the Bush superintendence and Republicans in Congress who dress in't want to dip into the Treasury Department's $700-billion financial bailout program to come up with the $25 billion in loans. ...
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Ctrip shares dive as analyst downgrades on weaker forecast for travel in 4th quarter
Nov 19 2008
November 18, 2008 - 8:27 p.m. PHILADELPHIA (AP) - Shares of Ctrip.com International Ltd. plunged on Tuesday after an algebraist downgraded the Chinese online travel company based on a weaker-than-expected business forecast for the fourth quarter. Ctrip said it expects net revenue to become greater by dint of. 5 to 15 percent in the fourth quarter, a disclosure that came with the third-quarter earnings release. But Citi Investment Research algebraist Catherine Leung called the forecast "disappointing" and below the 27 percent shooting expected by Wall Street analysts. She downgraded the stock to "Sell" from "Buy," cut her mark price to $18 from $53 ...
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Baseball cap maker Genesco says it’ll post third-quarter gains on sales boost
Nov 19 2008
November 18, 2008 - 7:58 p.m. NASHVILLE, Tenn. (AP) - Genesco Inc. said Tuesday it expects to post a earn in its third-quarter with net sales up 5 percent. The visitor pre-announced its proceeds for the quarter ending Nov. 2. It expects to officially announce those results upon Nov. 25. Genesco declared it expects earnings from continuing operations of between $9 million and $9.5 million, or between 41 cents to 43 cents a share. The company said that would be up from the $5.6 million, or 23 cents a share, it earned last year. The society said the quarter includes restructuring ...
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Cleanup time
Nov 19 2008
Cleanup time <!-- Cleanup time John Gray Securities regulation, Derivatives, SEC, alan greenspan 20081104 Once more, a call for a national securities regulator. /columnists/john_gray/ --> Whoever wins today’s U.S. presidential power to choose is going to face a laundry list of critical issues that must be addressed quickly. One of the chiefly difficult may be to what degree to restore and reinvigorate America’s financial regulatory system in the wake of the worst fiscal crisis since the Great Depression. Both Barack Obama and John McCain have been critical of the hands-off approach U.S. regulators took for the period of the run-up to the ...
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