Auditors: GM Bankruptcy Necessary; Ford Plans to Reduce Debt by 40%; Wal-Mart Feb. Numbers Strong; Google Sitting on $8.6 Billion in Cash; Mortgage Delinquencies Hit Record High; Blockbuster Won’t File for Bankruptcy; Citigroup Shares Break the Buck; Oil Falls Below $44

India Cuts Repurchase Rate to 5%; Private Employers Cut 697,000 Jobs in Feb.; U.S. Auto Sales Down 41% in February; Oil Rallies to Six-year High; Merrill’s Top 10 Execs Paid $209 Million Last Year

HSBC said it was cutting 6,100 jobs… closing offices all over America.

Laura Cadden of Today’s Financial News points out that the “commodity choice for investors” is Lithium. With the high global demand and the U.S. governments’ plan to invest over $2 billion on hybrid technology,  Lithium is a smart investment.

The action on Wall Street is nauseating. The more Washington acts, the more Wall Street drops. The folks with stomachs strong enough to keep them in the market are looking more like gamblers than investors. They are quickly realizing all roads lead to Washington.

In the closing paragraph of my comments yesterday, I said this about options expiry…”Will the U.S. bullion banks pull the pin…or will nothing much happen? Nobody knows…but we’ll find out soon enough.” I wrote that in the wee hours of Tuesday morning…not knowing that six hours later the bullion banks would do exactly that. It was ugly…and oh, so obvious. As I’ve said countless times before…no profit-maximizing seller ever sells like this…ever!!!

Sirius was a shaky company during a booming economy. Now that the economy is drowning in pain, satellite radio is doing exactly as we said it would. Crash and burn.

MasterCard Posts 4Q Profit; Buffet’s Berkshire Investing in Swiss Re; Rogers Staying Out of Russia; Ford in Volvo Talks with Geely Auto; Louis Vuitton Misses on Earnings; Brown Refuses to Ban Bonuses; Mortgage Rates Jump; Retail Trade Group Wants Tax Holidays

Oil prices are down over 60 percent from their peaks just last summer. With the economy crumbling across the globe, most investors think buying an oil company is the same as suicide.

But not Adam Lass, writing for the Taipan Publishing Group. He readily points out that ExxonMobil made $45.2 billion in pure profits last year alone.

For a company producing enormous amounts of cash in a “Cash is king” economy, he recommends you stay long ExxonMobil.

Thanks to President Obama’s love for green energy, Plug-in Hybrid vehicles will be everywhere in the next few years.

That opens up a promising opportunity for you to buy shares of one of the largest industrial battery producers before they soar in the years ahead.