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Good afternoon . . . not really. We have a fresh round of awful news from the markets, of course. Tyler Durden over at Zero Hedge brings us tidings of the travails of Louisiana Pacific (NYS: LPX) The maker of paper and would products whiffed on earnings, is trying to raise $350 million in cash via a bond offering. And that giant sucking sound? That's insurance cripple AIG (NYS: AIG) sucking another $30 billion out of taxpayer pocketbooks. (Naturally, AIG is on the Piqqem Sentiment list for Lowest Rated Stocks!).You read about it earlier today but then the company announced a stunning $62 billion loss and THEN the AIG CEO had to come out and say he could pay everything back to the TARP. Which can only mean one thing -- he can't or else he wouldn't open his mouth. Meanwhile, watch AIG shares on the yo-yo trade tomorrow -- someone could make a killing trading AIG options if any more bad news comes out. Microsoft to temps with no health insurance -- you get a 10% paycut! Yikes. More dark tidings coming shortly.
Alex Salkever is the Director of Research at Piqqem.com, an online stock research company that uses Wisdom of Crowds methodology to track sentiment towards stocks.
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Reader Comments (Page 1 of 1)
3-02-2009 @ 6:10PM
Philip said...
Ford Motors say they have enough money to ride till the end of 2009. In fact they morgaged all the company's assets to borrow their 27 billions 3 years ago. They watch these billions melt away and brag about their credit line.
That's curious: Cash-in by morgaging all,
burn all shareholder's investment, don't ask for governmennt help and walk away free and remorseless, after ruining every body's dream and capital.
That's curious: that's dumb: For nobody
complains about this irresponsible behavior from both the company, the lending banks, the shareholders, the press and the government.
No wonder we're falling straight into a deep depression, without even a sense of responsibility or remorse.
If the US is an inventive society, how can it comes out of these troubles if everybody's head is buried under the sand.
Wake up, back to economics 101.