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GM shares fall below $10 for first time since 1954
NEW YORK - Shares of General Motors Corp. plunged Wednesday to close below $10 for the first time in more than half a century, on worries about the company's cash needs and speculation about a possible bankruptcy protection filing down the road.
Activities:2008 U.S. Automakers Downturn Source:(AP)
2008-07-02
Bush: Housing deal possible with 'less politics'
NORTH LITTLE ROCK, Ark. - President Bush expressed confidence Tuesday he will reach a deal with Congress on a housing-rescue plan, but only if lawmakers show "less politics."
Nations:U.S. People:Trent Lott Activities:2007 Global Credit Crunch 110th Congress Bush Admin. Source:(AP)
2008-07-01
The Housing Abyss
The housing crisis is entering a new and frightening stage. On June 24, Standard & Poor's announced that the S&P/Case-Shiller 20-City Home Price Index had fallen more than 15% in April from a year earlier. Adjusted for inflation, the decline is the biggest since 1940-42, according to data collected by Yale University economist Robert Shiller.
Nations:U.S. People:Christopher Dodd Barack Obama John McCain George W. Bush Activities:2007 Global Credit Crunch Source:(BusinessWeek)
2008-06-30
The Next Victim of the Real Estate Crisis
State and local governments were flush with tax revenue during the five-year housing boom. They pulled from bulging pools of property, income, and sales tax to expand education, law enforcement, health care, and infrastructure programs without needing to burden residents and corporations with tax hikes.
Nations:U.S. People:Arnold Schwarzenegger Activities:2007 Global Credit Crunch
2008-06-30
Tips for Homeowners on the Brink
Mortgage rates are skyrocketing. Credit is locked up. Economic pressures are rising. Time to bail on that McMansion?
Nations:U.S. People:Jose Canseco Source:(BusinessWeek)
2008-06-30
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Company Bankruptcy
