IMF Predicts Global “Great Recession”; United Tech. Cuts 11,600 Jobs; Brazil Economy Grows 1.3% in 4Q; Malaysia Adds $16 Billion to Stimulus; GM to Sell Half of Opel; Big Corporate Bankruptcies Surge in 2009; Hedge Funds to Slash 20,000 Jobs; SEC Will Bring Back Uptick Rule
After a two-day “holiday” to start the week–Martin Luther King Day today (Monday) and Inauguration Day tomorrow (Tuesday)–it’ll be back to business on Wednesday as Congress begins to grill U.S. Treasury Secretary nominee Timothy Geithner – the appointment many observers believe to be the most important of the new Barack Obama administration.
If you like the car, will you love the company?
When it comes to Ford Motor Co. (F), a Canadian car dealer bet a month’s sales on that premise.
Rose City Ford dealership owner John Chisholm offered 100 shares of Ford stock to anyone who bought a new or used vehicle from the dealership during the month of November, the Windsor Star newspaper reported. Chisholm, the president and general manager of Rose City, said he got the idea from a General Motors Co. (GM) dealership in Texas that offered GM shares for each vehicle sold. So Chisholm opted to try it in Windsor, the Ontario, Canada city where Ford has both a long history and deep community roots.
“What a great way to show…
Wall Street is through the roof. The gains may not last. Take your profits on Mechel (NYSE:MTL), Vimpel (NYSE:VIP), and Nortel (NYSE:NT). During one of the worst weeks in financial history, you have a chance at profits of over 30%.
Right before yesterday afternoon’s spectacular rally in US stocks, Andrew Snyder recommended investors buy oversold shares. In particular, he said Nortel (NYSE:NT), which was down 45% since the start of the week, didn’t merit the plunge and was due a short-term bounce. NT today is up by only a fraction of a percent. This means there’s time to get in on this trade.
Editor’s Note: Money Morning’s Horacio Marquez says Cisco System’s beaten down share price is a great buying opportunity for investors. From a financial standpoint, Horacio says Cisco is virtually bulletproof. It has a $140 billion market cap and no debt. It has strong growth in emerging markets. And it’s shares are going at a bargain price…