It looks like "The Big 3" are very close to working something out in hopes the government will give them a hand out of $25 billion or more. On another note it looks like a BIG company will look at bankruptcy to resolve it's financial woes....Tribune Company is short cash to pay it's creditors interest payments coming due on $12 billion in debt and has now hired a company to look into a possible Chapter 11 bankruptcy filing. This news has simply been shoveled "under the rug" on Wall Street as the DOW has opened up triple figures on the auto bail out plan and President Elect Barrack Obama's infrastructure plan.
The hits keep coming for other major employers in the U.S. as both 3M and Dow Chemical cut their earnings outlook and in turn slashed jobs and possible plant closings. I only hope as we near 2009 we have a wholesale list of good news to talk about. I am optimistic that 2009 will be better but by how much and how quickly are the key questions. Let's hope our soon to be President has the answers!
Brought to you by Professional Mortgage Group, Inc.
Your Columbia Missouri Mortgage Broker
Monday, December 8, 2008
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment