Cracking Finance
Your only stop for Business, Finance, Jobs and Insurance news.
Chrysler seeks more financial aid from government
With the economy in such turmoil, everyone is asking government for help and another addition to this list is Chrysler LLC. With the firm urging its dealers to ask the Treasury Secretary to give more aid to the company, it is evident that Chrysler LLC needs government’s support to function. …
Citigroup heads for reverse stock split
According to Citigroup Inc, it wishes to execute a reverse stock split and also wants to increase its common shares outstanding in order to have a conversion from preferred shares to common shares. In terms with its announcement last month, Citi wants to exchange around $27.5 billion, due to its …
Google executive Tim Armstrong moves to AOL
Tim Armstrong, the executive of Google is soon going to adopt a new role of AOL’s chief executive. This has fueled the rumors regarding the separation of AOL from the parent Time Warner Inc. The idea of an independent AOL has been supported by Google also for some time now.
Google …
Wells Fargo Bank Cuts Its Dividend By 85%
On March 6, 2009, Wells Fargo bank announced that it would slash 85% of its dividend which would reduce the price to a nickel per share. According to Wells Fargo, this move will save them approximately $5 billion per year. Wells Fargo is a San Francisco-based bank which took over …
Blockbuster: Is It Going Bankrupt?
Rumors are flying all over the place about the possible bankruptcy of Blockbuster Inc. in the coming year. These rumors caused a fall of 77% for its shares. The shares doubled on Wednesday when the company made it clear that they aren’t going to file for bankruptcy.
Karen Raskopf, Blockbuster spokeswoman, …
Minnesota (MN) unemployment rate climbs to 7.6%
The unemployment rate is rising at an alarming rate in Minnesota. The situation is becoming worse day by day. Since January 20,700 jobs have been lost in Minnesota as indicated by The Department of Employment & Economic Development. The current Minnesota unemployment rate is 7.6% which is quite high as …
Obama Pledges To Cut Deficit In Half
Obama administration has pledged to cut the deficit that they have inherited since they moved into office to half by the end of their first term in office. This is a public and quite an ambitious pledge looking at the deficit which happens to be of 1.3 trillion dollars. This …
Obama implements tax cuts
With President Obama trying his best to fight the current recession, here is good news for American public. The President has announced the implementation of tax cuts for 95 % of Americans. This step is one of the steps of the 787 billion dollar plan of Obama to bring the …
Banks still continue to fail in US
Experts are predicting that bank failure will still continue as 13 banks have already failed this year. With 25 banks failing last year, it is clear that economic troubles are no way over.
Places where banks have failed the most in U.S.:
Nationalization of banks – not happening!
White House has said that nationalization of banks isn’t a solution and it has no plans to nationalize Bank of America and Citigroup. A big concern regarding the nationalization of these banks was the fate of shareholders. Robert Gibbs, press secretary of White House, has said that the government believes …
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