Best line of the morning from a friend of ours that runs Directive 10-289, "the FDIC forcing banks to lend it $36 billion is just a reversal of TARP."
Indeed, albeit unevenly meted out.
Showing posts with label TARP. Show all posts
Showing posts with label TARP. Show all posts
Tuesday, September 29, 2009
Wednesday, June 03, 2009
Chrysler Losing $100 Million Per Day
Chrysler is losing $100 million per DAY? How is that even possible? Doesn't that annualize to $30+ billion
per year? Wow.
Click here for a Bloomberg article on the subject.
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Update: We've received feedback from one of TILB's gearhead friends. Fantastic retrospective on Chrysler's green shoots from just two years (at the peak):
per year? Wow.
Click here for a Bloomberg article on the subject.
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Update: We've received feedback from one of TILB's gearhead friends. Fantastic retrospective on Chrysler's green shoots from just two years (at the peak):
I would say losses are directly tied to circumstance that current capacity utilization is at 40% but budgets were baked at 90%.
Which is not what executives were planning on...
Link to story below:Chrysler sees 100 pct capacity utilization in '08
Wed Feb 14, 2007 11:36am EST
AUBURN HILLS, Mich, Feb 14 (Reuters) - Chrysler Group's DCXGn.DE Chief Executive Officer Tom LaSorda said on Wednesday he expects the company to have 100 percent production capacity utilization going in to 2008. The money-losing U.S. unit of DaimlerChrysler announced a restructuring plan earlier on Wednesday that targets a 400,000 unit reduction in production capacity and slashing of 13,000 jobs by 2009.
Saturday, May 30, 2009
TARP-stuffed Lender Wells Fargo has the Gall to Oppose a Bid for BK'd Men's Clothier Hartmarx...
...a heavily unionized company that makes The President's suits, no less.
Wells believes a liquidation will recover maximum value. They seem to have forgotten that secured lenders have no rights.
Shockingly, politicians have decided to lean on their newly learned bankruptcy expertize as they opine on Wells Fargo's decision.
Right and just, indeed. How dare they decide how to pursue recovery from an asset they de facto control? Evil bastards.
Click here for more joy.
Wells believes a liquidation will recover maximum value. They seem to have forgotten that secured lenders have no rights.
Shockingly, politicians have decided to lean on their newly learned bankruptcy expertize as they opine on Wells Fargo's decision.
U.S. Rep. Phil Hare, a Democrat who represents the district that includes Rock Island, called Wells Fargo's statement "at best cynical and at worst deceitful." The bank misrepresented Emerisque's bid, Hare said.
Illinois Gov. Pat Quinn has said it is "only right and just" that Wells Fargo agree to a sale. Illinois Treasurer Alexi Giannoulias promised to cut off state business with the bank if it liquidates the company.
Right and just, indeed. How dare they decide how to pursue recovery from an asset they de facto control? Evil bastards.
Click here for more joy.
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