Categorized | the roundup

The Biz Roundup February 10

We plan to make the plan we’re planning a good plan if everything goes according to plan. Details to come after we spend a trillion dollars.

The gravity of the financial crisis confronting the Obama administration was brought into stark focus as Geithner unveiled a financial stability plan that would more closely scrutinize the risks banks are facing and offer public and private capital to those that need it; create a fund, with a starting value of $500 billion, to buy up toxic real estate loans; and commit up to $1 trillion to reopen lending markets for consumer, student, small business, auto and commercial loans

Stock markets plunged after the announcement, led down by financial stocks amid wariness and disappointment among investors. The Dow Jones industrial average, the Standard & Poor’s 500-stock index and the tech-heavy Nasdaq each fell more than 4 percent by today’s close.

(“Geithner Announces New Bailout Plan,” Washington Post, February 10) The real plan, of course, will come in “several weeks” and five hundred thousand pink slips later.


Stimulate this.

The Senate voted on Tuesday to approve an $838 billion economic stimulus plan that stands to become the most expansive anti-recession effort by the United States government since World War II. . . .

Despite numerous differences in the two bills approved in the Senate and the House, the overall scope of the economical recovery effort is now clear — sprawling in its reach, with tax cuts for individuals, families and businesses, assistance for jobless and low income Americans, aid to states, and huge spending on education, healthcare, energy and technology.

(“,” New York Times, February 10) World War II, of course, being the ultimate in “stimulus” plans. On a side note, Mitch “Economics For Dummies” McConnell said today that it’s a proven fact that government spending prolonged the Great Depression and only World War II pulled America out of the depression. Like World War II wasn’t government spending? Who paid for it? Warren Buffett?


Just in case you believe all the alarm and apocalyptic news about credit markets.

A growing number of big companies are taking advantage of the thawing credit markets to raise large sums of money at low interest rates, with Cisco Systems Inc. Monday selling $4 billion in bonds to bolster its war chest for acquisitions.

The big Cisco offering follows a string of successful efforts just in the past five weeks to tap the market for corporate debt. The size of the offering — and the relatively low-risk premiums attached to the bonds — indicate that investors are hungry for debt from highly rated companies.

(“Bond Market in Winter Thaw,” Wall Street Journal, February 10) I follow the bond markets very closely and, yeah, things have been tight. But frozen? I’ve watched several issues like this over the past month — ignored by all the screaming newspapers and bloggers who want to believe that the credit spigot is locked shut.


Nike joins the club. (“Nike May Cut Workforce By Up To 4% As Part Of Restructuring,” Fox Business, February 10)

Advice to all you entrepreneurs and producers planning a reality show (you know who you are because I’ve worked with dozens of you). Avoid contestants that have killed their parents in cold blood. Creates bad blood. (“Man who killed parents as youth outed via TV reality show,” Guardian, February 10)

What happens when California goes out of business? Part Duh. (“Governor moves to lay off 10,000 state workers,” Los Angeles Times, February 10)


Be Sociable, Share!

Leave a Reply

Shoestring Book Reviews

Shoestring Venture Reviews
Richard Hooker on Jim Blasingame

Shoestring Fans and Followers


Categories

Archives

Business Book: How to Start a Business

Shoestring Book

Shoestring Venture in iTunes Store

Shoestring Venture - Steve Monas & Richard Hooker

Shoestring Kindle Version # 1 for e-Commerce, # 1 for Small Business, # 1 for Startup 99 cents

Business Book – Shoestring Venture: The Startup Bible

Shoestring Book Reviews

Shoestring Venture Reviews

Invesp landing page optimization
Powered By Invesp
Wikio - Top Blogs - Business

YouWish Wishlist Builder for Android