Word: tuesday
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...Ganley's used-car dealership. There he found a 2007 Impala with 13,000 miles that cost $5,000 less than new one. At that price, he could pay cash. "Now's a good time to buy, but it's a bad time to borrow," Groening, 75, said on Tuesday as the continuing credit crisis dominated the news...
...markets have devoured last week's passage of the titanic $700 billion bailout package without a trace. By the end of Tuesday, the Dow had dropped 1,400 points in five days, the biggest point loss ever. As increasingly gloomy job numbers pile on top of the continuing problems in the credit market, it seems the U.S. government may be running out of economic hash to sling...
...indefatigable Paulson, along with Federal Reserve Chairman Ben Bernanke, this week unveiled a slew of new initiatives to try and restore confidence in the markets. On Tuesday, Bernanke unveiled a plan to try and gig the frozen market for commercial paper, offering to loan companies unlimited amounts of money three months at a time, sometimes with little or no collateral, a move unseen since the Great Depression. And at the Treasury, Paulson appointed a 35-year-old former Goldman Sachs banker as temporary head of the agency charged with using the $700 billion to lift bad loans...
...rebound. Never mind that aluminum producer Alcoa missed earnings estimates after hours yesterday with a 52% drop in profit. Or that Bank of America was down again, 3.7% at one point, on continued worries over its need to recapitalize. Other financials, which had been battered hard on Tuesday, like J.P. MorganChase & Co. and Citigroup, seemed to be heading up significantly, as was bellwether General Electric, which had seen its shares hit hard the last few months over its exposure to the credit crunch. By day's end, however, J.P. MorganChase was down slightly while GE and Citi managed only slim...
...news story on Tuesday announcing Corsi's press conference, the Standard newspaper said the American author's media invitation "makes no secret of the intention to hurl dirt at Obama and undermine his campaign from his ancestral home." Among the scrum of reporters waiting for Corsi outside Kenya's immigration office on Tuesday, one local Kenyan television correspondent was wearing an "Obama '08" T shirt...