April 2009

It's a little discussed sidebar to the government bailout programs that is helping polish the bottom line for the legal industry in this country. Government emails and documents obtained by FOX Business Network in its successful Freedom of Information Act lawsuit against the Treasury Dept. reveal that a cozy coterie of less than a dozen law firms have dominated the bank bailout work. The ... read more

Some things in life you learn the hard way. Like don't deep-fry frozen turkeys, unless you want your garage to look like an oil refinery explosion. Don't microwave Pop Tarts, because the jelly center heats first into molten lava and you'll have a tart melded like a shelf on to your front teeth. And never stick around in a job for so long that the President of the United States of America ... read more

Ford Motor Co. (F) cut $9.9 bn, or 38%, of its $25.8 bn automotive debt via a cash, debt and equity refinancing of its bondholders, a vote of confidence by its creditors. Its latest moves leaves the auto side of its balance sheet with $3.9 bn in cash (it was $6.3 bn) against about $15.9 bn in debt. Ford expects to reduce its debt by $9.9 bn when the deal is finalized on April 8. Don't ... read more

The stock market meltdown has unearthed lots of market fantasies--and deceptions. One of the biggest is what you may have heard from family members or co-workers: "Oh, my 401(K) is only down 20%." "Yes and I just saw Elvis ride past on a unicorn," says one of my analyst sources derisively. We're all feeling it. All of our 401(k)s have been slammed. But where do we go from here? One ... read more

Shares in life insurers have soared higher in trading on news they may get a government bailout via TARP capital injections. Hartford Financial, Genworth Financial, Lincoln National, Prudential Financial, all have stayed steadily in the green. But why should US taxpayer dollars, which were supposed to be used to help banks, be used to bail out insurers that are regulated by the states, which ... read more