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...that out of the ordinary for a recession. Typically, companies ring up tax credits in down years and use the credits to plump up the bottom line when business picks up. But what is turning the run-of-the-mill tax credit into a bonanza this recovery is the huge amount that corporate America has lost in the past two years. Also, stimulus spending has turned around the economy and corporate profits faster than normal for a particularly deep recession. The speedy turnaround in corporate profits, which are expected to soar 60% in the fourth quarter, is raising the value...
...decision to back out of the sale of its European operations this week was a huge embarrassment for German Chancellor Angela Merkel. She had thrown her weight behind the bid by the Canadian-Austrian car-parts maker Magna and its Russian partner, Sberbank, to buy Opel and Vauxhall from the beginning, seeing it as the best way to save German jobs and offering both sides billions of dollars in loan guarantees to grease the wheels. Before GM made its sudden U-turn on Nov. 3, Merkel had also been riding high. She was coming off an electoral victory in September...
...this holiday season? Last year was a complete and utter disaster for retailers. They had too much inventory and it became common to see large discounts really early in the season. A lot of people have asked me this year if they should buy early or wait for the huge sales, and it's really kind of hard to tell. I'm pretty certain that you aren't going to see those incredibly deep discounts because the inventories are much leaner than they were a year ago. Companies have gotten very smart about not ordering too much...
...back the $2.2 billion bridge loan that Berlin gave it a few months ago to keep Opel's business afloat. Jürgen Reinholz, the Economy Minister of the eastern state of Thuringia, says GM will likely do this by the end of November. But a huge question for Merkel is whether GM will now receive any of the $6.7 billion in loans the government had previously promised to Magna to seal the deal. The pledge had raised alarm bells in Britain, Belgium and Spain, where leaders feared that Germany was trying to curry favor with Magna and that their...
Republicans would pay a huge price if they tried to run Doug Hoffmans in every race in the country. But they aren't doing that. They're running a slew of moderate candidates for the Senate next year. Michael Castle in Delaware, Rob Simmons in Connecticut and Mark Kirk in Illinois have provoked some grumbling from Republicans to their right but so far face no credible primary competition. In Florida, Charlie Crist does have a primary challenger in Marco Rubio. But since polls show that either one of them could win the general election, that challenge does not threaten...