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Corporate 401(k) stinginess has already set in. GM is suspending 401(k) matching and tuition reimbursement, as is Frontier Airlines. And in a recent survey conducted by Watson Wyatt, a human-resources consulting firm, 6% of companies said they either had already cut 401(k) contributions or planned to over the next 12 months. "Do people notice their retirement benefits as much as their health care? No, they don't," says Maureen Tarantello, a Watson Wyatt senior consultant. "They deal with health benefits every time they see a doctor, but retirement is something that comes into play much later...
...steel, when you look at the automobile industry and the fact that the whole supplier base is connected - to Ford, Chrysler, Toyota - it will have a ripple effect on the entire industry," says Nicole Y. Lamb-Hale, a bankruptcy expert at the Detroit office of Foley & Lardner, a law firm that represents some GM suppliers...
...There are a handful of midsize banks that a lot of investors feel like we should have heard from by now about TARP," says Kevin Fitzsimmons, a bank analyst at investment firm Sandler O'Neill. "But we haven't, and there is a growing sense of unease about...
...Shares of Colonial had fallen as low as $1.44, plunging 46% in a week, on fears the firm wouldn't qualify for government assistance. On Thursday, though, the firm said it had applied to receive TARP funds. The company's shares rallied on the news to a recent $1.98. Colonial, based in Montgomery, Ala., is one of the nation's largest regional banks, with more than 340 branches in Alabama, Florida, Georgia, Nevada and Texas, and $16.8 billion in customers' deposits...
...Bank and New York Community Bank have both made money in the past year and are probably examples of financial firms that may not need assistance from the government. Still, observers say the consensus among bank executives is that the TARP program is a good deal. So any firm that decides to opt out may raise concerns among investors and customers...