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Monday, January 05, 2009 12:46 PM

Surprised, not really

From the "you really shouldn't pile on when they're down" file, GM has a new advertising campaign paid for by the taxpayers running during the NFL football playoffs (and college bowl games) - and how about this for a novel idea, maybe
Posted by Howard Arnoff | 0 Comments
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Monday, December 29, 2008 10:55 AM

From subprime to bailout, 2008 year in review

Who would have thought when HSBC (Hong Kong and Shanghai Banking Company), the third largest bank in the world, announced in early February 2007 that they were setting aside additional reserves to cover bad debt (from subprime loans) expected to be 20%
Posted by Howard Arnoff | 0 Comments
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Monday, December 08, 2008 2:32 PM

Does Tribune bankruptcy signal the death of print

Sam Zell took the Tribune Co. private last year in an multi billion dollar leveraged buyout. Today, they announced they would file for bankruptcy reorganization. I'm originally from Chicago and the bankruptcy of The Tribune, a Chicago institution
Posted by Howard Arnoff | 0 Comments
Thursday, November 20, 2008 3:02 PM

[Aargh!] Now we have pirates to worry about

As if there weren't enough problems, now we have pirates to worry about. Aargh! (I just love saying that). With a barrel of oil below $50 and gasoline finally under $2 per gallon, Somali pirates are demanding $25 million in ransom to release an oil
Posted by Howard Arnoff | 4 Comments
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Saturday, November 15, 2008 9:16 AM

Take your pick [bailout, foreclosure, bankruptcy, loan modification]

Late last month, I wondered when the government was going to get around to helping the financially troubled homeowner while spending big dollars bailing out banks and other financial institutions. After all, the Hope Now and some other programs offered
Posted by Howard Arnoff | 2 Comments
Monday, November 03, 2008 10:29 AM

Timeline of the financial crisis

The NY Times (love it or hate it) has wonderful interactive graphics. Here is an interactive timeline of the financial crisis over the last 8 weeks. Be sure to check out Eight Weeks of Financial Turmoil .
Posted by Howard Arnoff | 0 Comments
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Saturday, October 18, 2008 8:05 AM

First Redfin, now Zillow

A tough week in Seattle real estate circles with Redfin announcing layofffs of of 20% of their employees on Monday and Zillow following with a similar announcement yesterday, laying off 25% of their employees. Glenn Kelman, CEO of Redfin, A Very Tough
Posted by Howard Arnoff | 0 Comments
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Monday, October 13, 2008 8:32 AM

Paul Krugman wins Nobel Prize for Economics

... and he's probably very smart so what does he have to say about a solution to the financial crisis. Mr. Krugman thinks that British Prime Minister Gordon Brown and Chancellor of the Exchequer Alistair Darling did the right thing by injecting capital
Posted by Howard Arnoff | 0 Comments
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Friday, October 10, 2008 5:21 AM

What a long strange trip it's been

The stock market effectively crashed yesterday on October 9th exactly one year after setting a record high and how did we get here. To quote the Grateful Dead, "what a long strange trip it's been". Back in February of last year I wrote about
Posted by Howard Arnoff | 2 Comments
Sunday, October 05, 2008 6:48 AM

Drastic solutions

A 90 year old woman facing foreclosure in Akron OH attempted suicide as sheriff's deputies tried to evict her. The sad tale ended well as she is expected to survive the gunshot to her chest and Fannie Mae announced it would dismiss the foreclosure
Posted by Howard Arnoff | 0 Comments
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Tuesday, September 30, 2008 6:41 AM

The price of failure

No one seems to approve of Congress, The President, those running for President, The Fed, The Treasury, Wall Street, Banks or almost anything else these days. Interestingly, while a majority of people disapprove of the job Congress is doing, almost all
Posted by Howard Arnoff | 0 Comments
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Monday, September 29, 2008 8:48 AM

Trying times on South Tryon

Charlotte's banking landscape changed dramatically this morning when Citibank took over Wachovia in a deal brokered by the FDIC and the Treasury. Wachovia's downfall can be traced to the ill timed purchase of Golden West Financial and the Option
Posted by Howard Arnoff | 0 Comments
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Saturday, September 27, 2008 6:46 AM

Funny [phony] of the day

Sheila Bair, Chairman of the FDIC, approved and endorsed a new bank. Washington politicians follow her lead causing a run on mattress stores in the Greater Washington area and mattress stores around the country report unbelievable sales since Ms. Bair's
Posted by Howard Arnoff | 2 Comments
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Wednesday, September 24, 2008 8:59 AM

Is that house really only $2,634

I had an inquiry yesterday about a home for sale that was listed for just $2,634. Is that really possible with all the talk about today's distressed housing market. In a word, no (it was simply a data entry error by the listing agent putting the street
Posted by Howard Arnoff | 0 Comments
Friday, September 19, 2008 9:40 AM

Is this the mother of all bailouts

With all the talk about taxpayer bailouts lately, is today's announcement by Hank Paulson the mother of all bailouts. I don't think so. I think there is so much money involved that it is now divorced from reality. And I think that the government
Posted by Howard Arnoff | 0 Comments
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