nate mcguire

I’m feeling a little more up to speed following my lunch, therefore I actually do have some knowledge to bestoy upon you today. There are quite a few things going on in the marketplace this week and last that are going to have a lasting affect on our economy and many corporations’ futures.  With all of the hoopla surrounding President-Elect Obama (I had never heard this term so much before this election), the media outside CNBC is largely ignoring the current economic crisis to the best of its ability.

So here is the short and dirty of what is going to fuck us in the coming days.

• The government decided that $70bn wasn’t enough for AIG - how does $150bn sound? Oh and how about a $40bn stake in the nation’s largest insurer? No big deal right?
• Not really big news, but sort of funny, mostly because I’ve always hated them: Circuit City is filing for Chapter 11, aka they suck at making money. They’ll be allowed to keep operating while they develop a restructuring plan.
• DHL is cutting 9,500 jobs and is closing its US service centers. As in you won’t be able to send something domestically via DHL anymore. At all. Only service from the US to other countries. Good news for UPS and FedEx though!
• Google hit a 3-year low. Enough said.
• And Oil is back up, whoo. China’s stimulus plan will help to increase demand, even though OPEC is cutting production, oil has fallen from approx $150 a barrel to around $60 today.  Good news for us, seeing as comparatively, oil is still way too expensive.
• The iPhone has also been the best selling phone, even in the downturn. I really hope that RIM goes out of business so my freakin’ company will support iPhones with email and stuff. Expensing my phone would be nice.