It's Friday, and a big storm is approaching the West Coast, a fitting end to a wild week. The SEC is investigating whether certain hedge funds allowed employees and favored clients to redeem their money before less favored clients. If allegations are true, then this gives new meaning to the term "front running", and should prove a great way to rebuild the reputation of an industry already viewed as having questionable ethics.Meanwhile, in Northern California, home of reputably the strongest regional economy in the country, median home prices have plunged year-over-year a stunning 46% based on February numbers.That's on top of the unpleasant news that roughly 52% of all home sales in the region were out of foreclosure. Mall giant General Growth, already in arrears on numerous bond and loan payments, appears headed for bankruptcy as credit default swaps settlement procedures have been triggered. And in a sure sign that the Twitter bubble is peaking, the Chicago Tribune "twitterized" it's masthead. In a sure sign of end times approaching, the prestigious Greenbrier Resort -- once playground to presidents and potentates -- filed for bankruptcy. Meanwhile, on the impending bankruptcy beat, roughly 50% of all existing U.S. auto parts supplier companies face bankruptcy, according to a study by consulting firm A.T. Kearney. Have a great weekend, y'all!
Alex Salkever is Director of Research at Piqqem.com, a stock prediction community and research tool.
Alex Salkever is Director of Research at Piqqem.com, a stock prediction community and research tool.
Closing Bell: Dubai sends jitters throughout the market (S, BBY)
Heinz looking good after the second quarter?
Why isn't Bank of America updating its shareholders on CEO situation?
