Too Big To Fail

The access to credit via the Treasury and Fed means the implicit guarantee on the GSEs’ debt is now explicit. – Ian Shepherdson (subscription required), Chief US Economist, High Frequency Economics Capitalism without failure is like religion without sin. – Allan…

VMware Worn Out

VMware (VMW), last summer’s hottest tech IPO, is getting smoked today after announcing a CEO change and a slight downward revision to its 2008 revenue forecast (VMW Press Release). When they reported 1st quarter earnings on April 22 they forecast…

Pawn Shop Business Booming

Cash America (CSH), operator of about 500 pawn shops in the United States, today significantly increased their expectations for 2nd quarter earnings. Pawn shops make money by lending money that is collateralized by the borrower’s personal possessions such as jewelry…

GM At 50 Year Lows

GM’s shares are trading just above $10 a share this afternoon.  According to the WSJ’s David Gaffen, GM shares haven’t traded below $10 a share since September 1954.  Now that’s something you don’t see every day! Yesterday, GM rallied on…